Green energy themed exchange traded funds in China have outperformed other thematic and broad-based ETF strategies in the first half of 2021, amid signs of a shift in the economy towards greener energy and more environmentally friendly consumer products, reported the Financial Times.
ETFs investing in green energy have dominated the list of best-performing ETFs in China over the first six months of the year, with seven of the 10 ETFs being green energy themed products, Wind Info data shows.
E Fund Management’s E Fund CSI New Energy ETF gained 45.5%, leading the market, followed by China Asset Management’s ChinaAMC CSI New Energy ETF, which delivered 44.6% in returns.
“Against the backdrop of China’s 2030-2060 carbon targets, the electric power transportation and manufacturing sectors have been put under the spotlight and become the first movers to reduce carbon emission,” said Kevin Xu, partner, and mining and metals sector leader at Deloitte China.