The world’s first, as deemed by financial experts, vegan/climate-friendly exchange-traded fund (ETF) is set to launch on the New York Stock Exchange the coming month. The investment fund is especially intended for animal rights advocates and environmentalists.
According to experts, the U.S. Vegan Climate ETF, which will be traded under the ticker “VEGN” on the floor of New York Stock Exchange, will be joining the fray of numerous funds which acknowledge environmental, social or governance (ESG) aspects of their investment resolutions will be one-of-its-kind in how it is free of animal cruelty.
As stated in a report by The Forum for Sustainable and Responsible Investment, a non-profit organization in Washington, the United States assets under management which follow environmental, social or governance values have been rising, expressing 1 in 4 dollars the previous year, an increase in 2016 from 1 in 5.
“Our aim is to help vegans and animal activists take the pain out of their portfolios,” stated Claire Smith, Chief Executive Officer and co-founder of ‘Beyond Investing’ based in Switzerland. “So many compassionate people go to great efforts to avoid buying products that contain animal ingredients or have been subject to cruel testing, but when it comes to their investment options, they’re actively, albeit often unwittingly, supporting companies and industries that exploit and torture animals. Our ETF offers them the opportunity to invest in line with their values. And because we love humans as much as other animals, we have defense and human rights screens as well.”
The fund will dismiss firms which Beyond Investing thinks are injuring animals or hurting the environment. This has led to the elimination of numerous firms. According to the firm it has cut out more than 40% of 500 large firms which were initially considered for the fund.
It is set to be listed on the New York Stock Exchange on the 10th of September.