ESG & Investing
A $97 Million Shortfall Leaves COP26 ETF on Brink of Liquidation
- NTZO launched at UN’s Glasgow summit with major backers
- Fund has just $3 million in ‘failure of collective action’
An iceberg floats along the eastern cost of Greenland near Kulusuk.
Photographer: Jonathan Nackstrand/AFP/Getty Images
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A climate ETF started by a group of major financial institutions is set to close after less than a year because none of the backers pitched in with anticipated funding.
The Impact Shares MSCI Global Climate Select ETF (ticker NTZO) launched in November at the United Nations’ COP26 summit in Glasgow, and since then has accumulated only about $3 million of assets.