Clean Energy ETFs Rise Amidst Canada Wildfires
HEAT Fund Up By 0.2%
The actively managed Touchstone Climate Transition ETF closed 0.2% higher in light of Canada’s wildfires. This ETF began trading in May of this year and has already made a positive impact on the market by investing in companies that promote lower greenhouse gas emissions.
BECO and NETZ Funds Slightly Up
BlackRock’s Future Climate and Sustainable Economy ETF (BECO) invests in companies promoting lower greenhouse gas emissions and was up less than 0.1% while Engine No.1 Transform Climate ETF (NETZ) gained 1%.
Clean-Energy Funds Thrive
Several clean-energy ETFs such as the Invesco Global Clean Energy ETF, SPDR S&P Kensho Clean Power ETF, and First Trust Nasdaq Clean Edge Green Energy Index Fund all closed higher on Wednesday amidst the wildfires.
The smoke from Canada’s wildfires has spread to New York City, causing an Air Quality Health Advisory to be issued for all five boroughs. New York City Mayor Eric Adams tweeted about the advisory on Wednesday. The clean-energy ETFs are thriving in response to these concerns about greenhouse gas emissions.