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Stock Takes: NZX climbs on environmental bandwagon with carbon indices, TIL placement
2 May, 2021 10:09 PM
3 minutes to read
NZX has introduced two new indices to recognise companies environmental performance. Photo / Whanganui Chronicle
The NZX has launched New Zealand s first carbon-efficient indices to tap into growing investor demand for environment-friendly stocks. The exchange said it had launched the indices in partnership with S&P Dow Jones Indices to recognise investor interest in reducing carbon emissions in addressing climate change.
Two new indices, S&P/NZX 50 Carbon Efficient Index and S&P/NZX 50 Portfolio Carbon Efficient Index, use a Trucost environmental dataset to weigh companies listed on the NZX according to their carbon intensity and sector impact.
NZX/S&P Dow Jones Indices Launch Carbon-Efficient Indices - S&P/NZX Carbon-Efficient Indices Designed As Tools To Measure And Encourage Companies To Act On Emissions Date
03/05/2021
New Zealand’s Exchange (“NZX”) today launched New Zealand’s first carbon efficient indices in partnership with the world’s leading index provider, S&P Dow Jones Indices (“S&P DJI”), amid rapidly growing investor interest, and action globally to reduce carbon emissions and address climate change.
New Zealand’s first ‘carbon light’ index
Aligned with best global practice, the two new indices, S&P/NZX 50 Carbon Efficient Index and S&P/NZX 50 Portfolio Carbon Efficient Index, utilise Trucost’s environmental dataset to weigh companies listed on the NZX according to their carbon intensity and sector impact. The key objective behind the indices is to incentivise New Zealand companies to compare their carbon intensity to their industry group peers around the world.
New Zealand’s Exchange (NZX) and S&P Dow Jones Indices have launched two new carbon efficient benchmarks, New Zealand’s first, to spur companies to disclose their emissions data.
The new S&P/NZX 50 Carbon Efficient Index will be about 25% lighter on carbon emissions than the benchmark stock index, while the S&P/NZX 50 Portfolio Carbon Efficient Index will be around 19% lighter on emissions than the S&P/NZX Portfolio 50 Index.
“The key objective behind the indices is to incentivise New Zealand companies to compare their carbon intensity to their group peers around the world,” NZX and S&P say in a statement on May 3.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
New Zealand’s Exchange and S&P Dow Jones Indices launch carbon-efficient indices
May 2, 2021 GMT
WELLINGTON, New Zealand, May 2, 2021 /PRNewswire/ New Zealand’s Exchange (“NZX”) today launched New Zealand’s first carbon efficient indices in partnership with the world’s leading index provider, S&P Dow Jones Indices (“S&P DJI”), amid rapidly growing investor interest, and action globally to reduce carbon emissions and address climate change.
New Zealand’s first ‘carbon light’ index
Aligned with best global practice, the two new indices, S&P/NZX 50 Carbon Efficient Index and S&P/NZX 50 Portfolio Carbon Efficient Index, utilise Trucost’s environmental dataset to weigh companies listed on the NZX according to their carbon intensity and sector impact. The key objective behind the indices is to incentivise New Zealand companies to compare their carbon intensity to their