Goldman Lists Leveraged ESG Products in Europe
May 13 2019 - 1:01PM
Dow Jones News
By Dieter Holger
Goldman Sachs Group Inc. (GS) is listing at least six
sustainable finance products in Europe that track indexes from
STOXX Ltd., a unit of Deutsche Boerse AG (DB1.XE), STOXX said
Monday.
The leveraged products--which include derivatives--will invest
in companies found in three indexes: the EURO STOXX 50 Low Carbon
Index, the STOXX Europe Climate Impact Ex Global Compact
Controversial Weapons & Tobacco Index and the STOXX Europe 600
ESG-X Index.
The first two indexes focus on environmental performance by
screening out companies that don't score highly with ISS
environmental, social and governance ratings or receive at least a
B- rating from CDP, a nonprofit platform where more than 7,000
companies disclose environmental metrics.
The last index is a version of the popular STOXX Europe 600
benchmark that excludes companies involved in controversial
weapons, tobacco, thermal coal and those that don't adhere to the
UN Global Compact pact.
Goldman's new ESG products will first trade on Euronext
Amsterdam market as the first leveraged products linked to STOXX's
ESG indexes. The American investment bank could also bring the
products to other European markets, a STOXX spokesman said.
"After opening a new chapter in responsible investing with the
listing of futures on three ESG benchmark indices, we are now
reaching another milestone by entering into the leveraged-products
space," said Inderpal Gujral, head of product at STOXX.
STOXX offers more than 100 ESG and sustainability indexes,
excluding customized benchmarks with ESG features, STOXX said.
Write to Dieter Holger at dieter.holger@dowjones.com;
@dieterholger
(END) Dow Jones Newswires
May 13, 2019 12:46 ET (16:46 GMT)
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