UBS Asset Management has launched a new exchange-traded fund (ETF), the UBS Carbon Compensated Gold ETF, which holds gold bars that have been certified as carbon neutral. The ETF, listed on the Six Swiss Exchange, has a total expense ratio of 0.30%. UBS has partnered with precious metal trading group MKS PAMP, which has developed the carbon-neutral gold bars certified by the Carbon Trust. The gold bars are produced in line with the London Bullion Market Association’s responsible sourcing guidelines. Additionally, MKM PAMP has committed to reducing the greenhouse gas emissions of its carbon-neutral products by 1% a year across the entire value chain. The ETF will also use carbon offsets certified by Verra.
ETF Newz Says:
The move comes as gold prices continue to rise, up 9.2% in the month to 24 March, as investors seek safety amid contagion fears over the global banking sector.