HSBC’s global climate index has removed two climate finance firms due to their poor performance.
Climate Exchange and Trading Emissions, both London-listed firms, have been cut from the HSBC’s Global Climate Change Benchmark Index, according to a recent research report from the bank.
“A global agreement with specific hard targets would have allowed the carbon market to thrive,” Vijay Sumon, and index specialist at HSBC Global Research, said in a statement from the bank today.
“With (no agreement) the general downward trend of carbon trading seen last year has accelerated,” Sumon said, referring to the modest outcome of the UN climate summit in Copenhagen in December.
Between 1 September and 18 December 2009, the HSBC Global Carbon theme fell 16 per cent and post-Copenhagen, its decline has fallen more than 28 per cent, the bank said.
As a result, all of the stocks related to carbon trading fail the minimum market capitalisation threshold of $400 million for entry into the HSBC Climate Change Index, it said.
“This means the Carbon Trading theme will not now be represented as an investable theme within the HSBC Climate Change Benchmark Index as of 22 March,” according to the research report.
The index now reflects 17 out of the 18 investment themes, such as low carbon energy production, energy efficiency and management, and water, waste and pollution control.
By Jeff Coelho – jc@pointcarbon.com
London
Nenhum comentário:
Postar um comentário