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Low Carbon Indices ensure minimum 50% less carbon intensity than benchmark - verified by South Pole
25 Sep 2014
von IMin Aktuelles
Launch of Solactive CK Low Carbon Indices. Montreal & Frankfurt, September 25, 2014 – Corporate Knights Capital has partnered with Solactive to launch a family of Low Carbon Indices, aiming to provide exposure to best-in-class companies in carbon intensive sectors, while maintaining benchmark exposure for companies in all other sectors.
The new indices available include: Solactive CK Low Carbon U.S. Index, Solactive CK Low Carbon Europe Index, and Solactive CK Low Carbon Canada Index. This new index family has been designed to serve as benchmark or underlying for low carbon investment strategies.
The Solactive CK Low Carbon Index family is the first in the industry to use the Sustainable Industry Classification System™ (SICS®), established by the Sustainability Accounting Standards Board® (SASB®) to categorize industries based on resource intensity, sustainability impact, and sustainability innovation potential.
A defining feature of these Low Carbon Indices is that they ensure a minimum 50% reduction in carbon intensity against the market benchmarks, as verified by South Pole Carbon.
The launch of these indices combines the expertise of Corporate Knights, an investment advisory and research firm specializing in sustainable investment solutions, and Solactive, one of the fastest growing index providers globally.
Toby Heaps, CEO of Corporate Knights Capital, said: “Our best-of-sector approach cuts carbon in half, while offering an efficiency upside in the sectors where it matters most.”
Steffen Scheuble, CEO of Solactive, added: “We are pleased to launch this innovative family of indices with Corporate Knights as demand from the market for sustainable investment solutions keeps increasing, while investors’ awareness and interest for that theme have considerably improved over the past few years.”
Maximilian Horster, Partner in the South Pole Group, said: “With our world-leading expertise on investment climate impact, we are proud to certify that investing into these low-carbon indices does indeed cut an investors direct investment carbon footprint by half.”
The starting index universe, composed of the largest companies in each region/country subject to liquidity and ownership screens, is provided by Solactive.
Corporate Knights then applies a carbon intensity screen to companies in high carbon sectors (Energy, Materials, Industrials and Utilities), removing companies which do not report or underperform relative to peers iteratively until a 50% carbon intensity reduction is achieved. To ensure sector neutrality, the weightings of remaining best-in-class companies in high carbon sectors are scaled up proportionately, with a condition that no company weighting exceed the weight of the largest company in that sector's starting index universe. This approach, by restricting the carbon screen to sectors accounting for the majority of carbon emissions, avoids introducing unintended bets in sectors for which direct and electricity-related carbon emissions are not significant.
Solactive calculates the three indices, which are market capitalization weighted. The Solactive CK Low Carbon Indices are net total return and rebalanced on a quarterly basis. The US, Canada and Europe Indices will respectively be calculated in USD, CAD and EUR. The three Indices were launched on September 25th, 2014 with an initial value of 100.
For more information on the Indices, please visit the Solactive website.
Corporate Knights Capital is an investment advisory and research company based in Toronto, Canada, with over a decade of experience quantifying corporate sustainability. Corporate Knights Capital’s research underpins the Global 100 Most Sustainable Corporations Index, Newsweek Green Rankings and the Sustainable Stock Exchanges Ranking.
Solactive AG is one of the key players in the indexing space. Focusing on tailor-made indices, the German multi asset class provider is developing, calculating and distributing them worldwide. As of 31st December 2013, Solactive AG calculates 1,000 indices for over 100 clients in Europe, America and Asia. Approximately 20 billion USD are invested in products linked to indices calculated by the Company globally, primarily via 125 ETFs.
South Pole Carbon is a well-recognized sustainability solutions and service provider. The company specializes in the design and promotion of market mechanisms to fight climate change. Its expertise includes renewable energy, forestry, agriculture and water. The company’s headquarter is located in
Zurich/Switzerland, it runs 17 offices worldwide. South Pole Carbon has been awarded Best Project Developer by Environmental Finance in 2014 for the fourth consecutive year.
The information in this document does not constitute tax, legal or investment advice and is not intended as a recommendation for buying or selling securities. Solactive AG and all other companies mentioned in this document will not be responsible for the consequences of reliance upon any opinion or statement contained herein or for any omission.
