OTTAWA (Reuters) - Investors can now track the performance of Toronto-listed green energy companies on the new SP/TSX clean technology index, launched on Thursday by Standard Poor"s and TMX Group Inc, parent of the Toronto Stock Exchange.
The index, created in response to growing investor demand, tracks 21 Canadian-based companies whose core business is the development and use of green technologies and sustainable infrastructure.
"Toronto Stock Exchange has become a key listing, financing and trading destination for clean technology companies," said Ungad Chadda, senior vice-president of the TSX.
"The creation of the SP/TSX clean technology index is a significant step forward for this important new industry sector."
The companies operate in five sectors: renewable energy production and distribution, renewable energy manufacturing and technologies, energy efficiency, waste reduction and water management, and low-impact materials and products.
"A growing number of investors are interested in the clean technology investing theme," said Jasmit Bhandal, director of SP Indices in Canada.
"This new index provides a gauge for investors to assess the hypothesis that global interest in clean technology will lead to a favorable environment for clean technology companies."
Securities, which must each have a float-adjusted market value of at least C$100 million ($98 million), are screened by Jantzi-Sustainalytics, which provides environmental, social and governance research and analysis.
The weight of each stock is based on its float-adjusted market cap, but is modified so that no one stock has a weight of more than 10 percent.
($1=$1.02 Canadian)
(Reporting by Susan Taylor; editing by Rob Wilson)
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