Nasdaq and an arm of Deutsche Bank launched a global alternative energy and clean technology stock index on Wednesday that attempts to provide a pure signal of how the business is performing.
DB Climate Change Advisors, the climate change investment and research branch of Deutsche Bank’s asset management business, and Nasdaq OMX Group, Inc said the DB NASDAQ OMX Clean Tech Index is comprised of 119 companies.
Mark Fulton, Deutsche’s global head of climate change investment research, said companies in the index derive at least a third of their revenues from clean technology. And 106 of the companies have more than half their revenues in the space.
“These are companies that have very definitely declared a large stake in the clean tech sectors,” Fulton told Reuters. “We tried to produce an index that sends a purer, concentrated set of signals.”
The index, the first between a global bank and a global exchange company, lists 30 companies in solar energy and 13 in wind power. It also includes companies in energy efficiency, transport, waste management and water companies.
The index is equal-weighted to offer greater exposure to smaller-cap companies. In addition to a price return index, it also calculates a total return version.
Deutsche Bank Asset Management had about $6 billion under management as of September 2009 in climate related investments.
