UBS Asset Management has introduced a physically backed gold ETF called “Carbon Compensated” in Europe that aims to cater to climate-conscious investors. The ETF only holds gold bars that are certified carbon-neutral, which means that the CO2 emissions generated across the entire value chain have been independently measured and committed to being reduced each year. Any outstanding emissions are compensated by financing carbon offset projects with positive environmental impacts. The gold bars also comply with the London Bullion Market Association’s responsible sourcing guidelines. The ETF carries a management fee of 0.30%, which is a seven basis point premium compared to UBS’s existing physically backed gold ETF.
ETF Newz Says:
The launch coincides with increased demand for safe-haven assets, with gold ETFs reaching their highest values in over a year.
