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Vegan-friendly ETF set to hit market

ESG investingA vegan-friendly and climate-conscious exchange-traded fund (ETF) is set to open for trading on the New York Stock Exchange in September in what is claimed to be a world first.

Created by vegan and cruelty-free investment platform Beyond Investing, the fund avoids backing companies whose business models rely on animal exploitation, as well as businesses that pose environmental threats.

“So many compassionate people go to great efforts to avoid buying products that contain animal ingredients or have been subject to cruel testing,” said chief executive Claire Smith.

“But when it comes to their investment options, they’re actively, albeit often unwittingly, supporting companies and industries that exploit and torture animals.”

The US Vegan Climate Exchange Traded ETF (VEGN) aims to change all that, according to Smith.

The ETF is currently accessible in most countries, Beyond Investing said, with the exception of the EU.

The firm claims that the EU’s Package Retail Investment and Insurance-based Products (PRIIPs) regulation means that US ETFs have had to be removed from brokerage platforms for retail investors.

But animal lovers in the EU need not fret yet – work is underway to design an EU-acceptable structure of the fund, the company said.

The fund itself was created by a team of “experienced vegan finance professionals” in the US, UK, and Switzerland.

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