|By Marketwired .||
|June 26, 2014 11:56 AM EDT||
NEW YORK, NY -- (Marketwired) -- 06/26/14 -- Fossil Free Indexes LLC --
- First US broad market fossil free index
- Supports a surging divestment movement
- Demonstrates that fossil free investing need not sacrifice returns
- Shields investors from risks associated with fossil fuel investments
Fossil Free Indexes LLC (FFI), an environmental, social, and governance (ESG) index and research company, today released its first index covering the US equity markets, Fossil Free Indexes US (FFIUS). Based on the S&P 500 and screened to exclude the largest oil, gas, and coal companies as identified by the firm's proprietary list, The Carbon Underground 200, FFIUS is the first index to leverage the long-term growth of US large cap indices while protecting investors from the risk of a carbon bubble. Over the ten years ending 5/30/14 the correlation between returns on FFIUS and the S&P 500 has been very high, suggesting that index investors need not sacrifice returns when choosing not to invest in the biggest carbon resource companies.
"Fossil Free Indexes US is a giant leap toward making fossil fuel divestment a practical choice," remarked Chuck Collins, co-founder of Wealth for the Common Good and the Divest-Invest Individual campaign.
FFIUS uses Standard and Poor's Dow Jones Indices as its calculation agent. The index can be used as a benchmark, and an investable product based on the index will be available in the coming months.
"FFIUS is the first of its kind in the US. We're primed to give investors a unique opportunity to invest in the broad market while avoiding the increasing risk of long-term investment in fossil fuels," said Stuart Braman, founder/CEO. "The science and effects of climate change are clear. Our products will be common-sense, accessible, low-risk options for institutions and individuals to help protect the planet along with their investments."
Experienced investors increasingly seek to direct their assets to fight climate change. Seattle-based venture capitalist Mike Slade of Second Avenue Partners commented, "Having the proven power of a broad index coupled with the removal of the risk associated with fossil reserves-based companies is a great investment strategy going forward. I plan to invest in the FFIUS index as soon as the investable product is available."
A steady stream of political actions, regulatory announcements, scientific reports, and market events, including President Obama's recent 2030 deadline for 30% reduction in carbon emissions by US power plants, highlights the risk of fossil fuel investments. The latest such action is this week's release of "Risky Business," by the Bloomberg-Paulson-Steyer-led group outlining the impact of climate risk on the US.
Fossil Free Indexes provides benchmarks and tools for ethical investing with an initial focus on broad market indexes ex-fossil fuels defined exactly in line with the divestment movement. http://fossilfreeindexes.com/
Lucy Di Rosa
Director of Communications
Fossil Free Indexes
Sep. 26, 2016 03:00 AM EDT Reads: 1,750
Sep. 26, 2016 03:00 AM EDT Reads: 923
Sep. 26, 2016 02:45 AM EDT Reads: 1,546
Sep. 26, 2016 01:45 AM EDT Reads: 1,661
Sep. 26, 2016 01:00 AM EDT Reads: 1,954
Sep. 26, 2016 01:00 AM EDT Reads: 1,613
Sep. 26, 2016 12:30 AM EDT Reads: 1,245
Sep. 26, 2016 12:30 AM EDT Reads: 1,537
Sep. 26, 2016 12:15 AM EDT Reads: 1,820
Sep. 25, 2016 10:45 PM EDT Reads: 1,584
Sep. 25, 2016 10:45 PM EDT Reads: 4,411
Sep. 25, 2016 10:00 PM EDT Reads: 1,700
Sep. 25, 2016 09:30 PM EDT Reads: 2,504
Sep. 25, 2016 09:00 PM EDT Reads: 932
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 25, 2016 07:30 PM EDT Reads: 2,619