Goldman Sachs Asset Management and Bloomberg Launch Clean Energy Index

Bloomberg and Goldman Sachs Asset Management announced 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. According to a story in MarketsMedia news, 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. 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 dynamic offering that promises to evolve alongside the energy transition.