(Reuters) - Goldman Sachs Group Inc 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.
Earlier this month, Boston-based custody bank State Street Corp launched its first fossil-fuel free ETF, citing investors’ concerns over climate change.
The Goldman Sachs ETF will hold stocks in S&P 500 companies that are not heavily involved in the production of coal, oil, gas, tobacco and military armaments.
Goldman Sachs declined to comment on the new ETF.
Reporting by Rachel Chitra; Editing by Shounak Dasgupta