Count Goldman Sachs (NYSE: GS) among the issuers of exchange traded funds mulling the launch of an ETF dedicated to environmental and socially responsible investing.
Goldman “said in a filing on Monday it would launch a new climate-focused index-tracking exchange-traded fund (ETF). Launch of the Goldman Sachs S&P 500 Environmental & Socially Responsible ETF comes on the heels of the recent landmark agreement on climate change at the global climate summit in Paris,” according to Reuters.
Goldman launched its first ETFs this year, but its three new funds are among this year’s most successful rookie ETFs. The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (NYSEArca: GSLC) is Goldman’s first ETF.
GSLC’s underlying index will implement multi-factor strategies through its patented ActiveBeta Portfolio Construction Methodology that provides exposure to factors commonly tied to a stock’s outperformance relative to market returns.