Global X has launched net-zero emission focused Global Carbon ETF (Synthetic) (GCO2).
GCO2 tracks the ICE Global Carbon Futures Index to provide access to the world’s largest carbon markets, covering the European Union Emissions Trading Scheme, Regional Greenhouse Gas Initiative, Western Climate Initiative (California cap and trade program) and the UK Emissions Trading Scheme.
The fund has a management fee of 0.45 per cent per annum.
In an effort to support domestic climate change initiatives, Global X is also contributing 10 per cent of GCO2’s annual management fees towards the Yarra Yarra Biodiversity Corridor ‘Plant-a-Tree’ program, which is creating a green corridor to reconnect coastal regions with drier inland habitats.
Trees will be planted in Western Australia’s wheatbelt region, which is importantly one of only 36 biodiversity hotspots in the world.