Exchange-traded funds (ETF) provider HANetf has listed the European Green Deal undertakings for the collective investment in transferable securities (or Ucits) ETF on London Stock Exchange and electronic German stock exchange – Deutsche Börse XETRA.
The ETF tracks Societe Generale’s SGI European green deal ESG Screened NTR Index.
It will be classified as an Article 8 fund under the sustainable finance disclosure regulation, defined as “a fund which promotes, among other characteristics, environmental or social.”
The European Green Deal is a set of policy initiatives suggested by the European Commission to reduce greenhouse gas emissions by 55% by 2030 and achieve net zero by 2050.
The European Green Deal Ucits ETF targets stocks selected by Societe Generale’s research department from within four key sectors that could benefit from the deal: clean energy, sustainable mobility, building and renovation and circular economy.
The plan requires the mobilisation of €1 trillion in sustainable investments over the next decade, representing 30% of the EU budget, as agreed upon by all 27 EU member states.
Hector McNeil, founder and co-CEO of HANetf, commented: “The European Green Deal will require considerable investment and should promote the growth of companies that have a role to play in the transition.”
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