Bloomberg and Goldman Sachs Asset Management Launch Global Clean Energy Index
Bloomberg and Goldman Sachs Asset Management have launched the Bloomberg Goldman Sachs Global Clean Energy Index, tracking over 175 global equities in the clean energy sector. Developed with insights from BloombergNEF, this index utilizes a data-driven approach to identify companies significantly involved in clean energy. The index will be rebalanced quarterly, allowing for adaptability and potentially lower volatility. Bloomberg clients can access it using the ticker BGSCET Index. This initiative aims to support climate-focused investing and address the urgent need for capital in the clean energy transition.
- Launch of the Bloomberg Goldman Sachs Global Clean Energy Index offers a new investment avenue in clean energy.
- The index includes over 175 global equities, broadening investment options in the clean energy sector.
- Quarterly rebalancing of the index allows for dynamic adaptation to evolving energy technologies.
- None.
NEW YORK, Oct. 27, 2021 /PRNewswire/ -- Bloomberg and Goldman Sachs Asset Management are pleased to announce the launch of the Bloomberg Goldman Sachs Global Clean Energy Index. Designed with the energy expertise at both firms, the index is a modified free float-adjusted market capitalization weighted index tracking the performance of over 175 global equities with significant business exposure to the clean energy sector.
The index was developed jointly by Bloomberg and Goldman Sachs Asset Management using a proprietary approach informed by insights from BloombergNEF (BNEF) analysts who identify companies that are active and impactful in their respective sectors and assess their exposure to clean energy. The universe of eligible securities for the index is developed by using a data driven approach to select securities from the broader Bloomberg World Index based on BNEF estimates around their exposure to clean energy.
"Bloomberg and Goldman Sachs Asset Management are offering the market a new standard for clean energy indices," said Dave Gedeon, Global Head of Equity and Strategy Indices at Bloomberg. "With increased recognition of the significant global investments necessary for de-carbonization coupled with declining renewable energy costs and ever increasing technologies for renewable energy, our launch of a Clean Energy Index is particularly timely, and we look forward to offering this solution to the climate-focused investing community."
"Mainstream investors have an important role to play in financing the clean energy transition, especially as the battle against climate change intensifies. With new technologies and government policies emerging, however, the energy transition is rapidly evolving and requires a dynamic investment approach. As such, we are excited about leveraging BloombergNEF's real-time energy insights and proprietary datasets to help investors reallocate capital to align with their long-term climate goals," said Kyri Loupis, Head of Energy Infrastructure & Renewables at Goldman Sachs Asset Management.
The following sectors have been defined as having an upside exposure to clean energy for the index universe: wind, energy storage, clean power, networks, digitalization, bioenergy, solar and hydrogen. The index will be rebalanced on a quarterly basis, providing a highly dynamic offering that promises to evolve alongside the energy transition and result in lower volatility.
Bloomberg clients can access the index using the ticker BGSCET Index <GO>.
Bloomberg provides an independent, transparent approach to indexing for customers across the globe. For more information, please visit Bloomberg Indices. For more information on BNEF's energy transition research please visit https://about.bnef.com/.
About Bloomberg Index Services Limited
Bloomberg's index team has a proven track record in creating industry-standard and bespoke indices across asset classes, including market-leading fixed income and commodity indices. Bloomberg Index Services Limited (BISL) takes an innovative approach to delivering strategic benchmarks that help market participants address their evolving needs. As an integral part of Bloomberg, BISL has access to an unparalleled breadth of trusted data and reliable technology for calculations, analytics and workflow automation, along with distribution capabilities that can help amplify the visibility of our customers' products.
About Bloomberg
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than
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