ETFMG Breakwave Sea Decarbonization Tech ETF begins trading on the NYSE. File Image / Pixabay
ETF Managers Group LLC (ETFMG) today claimed a world first as its exchange-traded fund (ETF) ETFMG Breakwave Sea Decarbonization Tech ETF (NYSE Arca: BSEA) today begin trading on the New York Stock Exchange.
With the IMO 2030, IMO 2050, and total decarbonization goals set, the marine shipping industry faces the prospect of spending trillions of dollars to achieve its ambition.
ETFMG says its ETF is designed to give investors access to those global players actively involved in the process of realizing those efforts to reduce the environmental impact of the global maritime sector.
Sam Masucci, Founder and CEO, ETFMG
answers investor demand for access to these disruptive technology companies at the forefront of ocean decarbonization
This includes technology developers, OEMs, service providers, those involved in cleaner propulsion (including alternative fuels, batteries and fuel cells), carbon capture technologies and offshore wind development.
"BSEA is a key step towards capitalizing on the ocean decarbonization transition by providing investors with an easy way to track the performance of publicly-traded sector leaders backed by comprehensive research and analytics," John Kartsonas, Founder and Managing Partner of Breakwave Advisors, said in an emailed statement.
With the industry being urged to act now on its decarbonization efforts, Sam Masucci, Founder and CEO of ETFMG, added that the product "answers investor demand for access to these disruptive technology companies at the forefront of ocean decarbonization."
BSEA tracks the Marine Money Decarbonization Index (MMDI) developed and maintained by Maritime Transformation Partners, a collaboration between Marine Money, Breakwave Advisors and Sea/Switch Partners.