HSBC AM launches climate technology ETF with Nasdaq

investmentweek.co.uk:

The HSBC Nasdaq Global Climate Tech UCITS ETF was listed on 13 October on the London Stock Exchange.

The HSBC Nasdaq Global Climate Tech UCITS ETF was listed on the London Stock Exchange on 13 October .

The fund will track the Nasdaq CTA Global Climate Technology index, offering investors exposure to the climate technology industry through a thematic classification developed by the Consumer Technology Association and Nasdaq.

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Developed by HSBC AM, Nasdaq and CTA, the index is comprised of companies seeking to help facilitate the climate transition and mitigate climate risk. It spans sustainability-focused technologies supporting the transition, including power sources, power storage, infrastructure, agriculture and food technology, adaptation and fossil-free transportation.

The companies included in the index were assessed based on factors such as market capitalisation, revenue, market share, patents and product launches. They were also scored according to revenue share derived from climate technology and how their technology helps deliver on climate objectives such as carbon neutrality or net zero.

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Olga de Tapia, global head of ETF and indexing sales at HSBC AM, said: «At HSBC AM, we see climate change as a global issue. Scalable technology solutions have a significant part to play in addressing some of the challenges associated with climate change and we believe thematic ETFs present an exciting way for investors to build climate tech exposure into their portfolios and access this crucial theme.

»The launch of our new Climate Tech ETF reinforces our commitment to the future development of climate-focused technology and enables us to