Invesco has launched the Global Clean Energy Ucits ETF based on an index compiled by WilderHill, a California-based firm that produced the first clean energy indices.
Invesco will track the WilderHill New Energy Global Innovation Index for the London-listed ETF.
The fund avoids fossil-fuel companies and follows an equally weighted index to invest in companies focused on wind, solar, biofuels, hydro and other renewable energy sources. It also invests in companies involved in energy conversion, storage, conservation and efficiency.
Dr Rob Wilder, co-founder of WilderHill, said: “We have seen major fundamental changes to the clean energy space since solar and wind started breaking new ground in the noughties.
“First of all, the largest economies in the world are now committed to net-zero carbon objectives. Second, and even more significant, we now have economically viable alternatives to fossil fuels. In fact, solar will soon be the lowest- cost source of electricity generation.”
The ETF’s ongoing charges figure is 0.60% per annum.
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