UBS AM launches 'strict' ESG ETF for S&P 500

Represents around 25% index market cap

UBS Asset Management has launched an ETF offering investors access to the S&P 500 filtered through a “strict” ESG criteria.

The UBS ETF S&P 500 ESG Elite UCITS ETF tracks the S&P 500 ESG Elite index, which is comprised of companies with best-in-class ESG scores, around 25% of the index's market capitalisation. Fund managers with $9trn in assets make net zero carbon pledge It also excludes firms involved in tobacco, alcohol, GMO, gambling, adult entertainment, controversial and military weapons, small arms, predatory lending, nuclear power, fossil fuels and companies which violate the UN Global Compact. According to S&P Dow Jones Indices, the ESG Elite index offers a 40% reduction in carbon footprint com...