SGX launches low carbon index in partnership with OCBC

The index uses a methodology that singles out companies with a heavy reliance on fossil fuels.

Going green was the next step forward as Singapore Exchange (SGX), in collaboration with OCBC, launched the iEdge-OCBC Singapore Low Carbon Select 50 Capped Index.

Developed by SGX as part of the SGX Sustainability Indices product suite, the product was done in association with product specialists from the OCBC Group.

A methodology was also applied that excludes entities that have a heavy presence in the fossil fuels sector. Best-in-class selections based on Scope 1 and Scope 2 greenhouse gas emissions per unit of revenue, were also highlighted.

Through this, the top 50 remaining companies by market capitalisation will make up the index, with a tiered capped weighting mechanism in place to enforce portfolio diversification.

Mega cap stocks will be capped at 10%, with other constituents following suit at 7%.

“The index provides an opportunity for investors to reduce the carbon footprint of their investment portfolios,” commented SGX.

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