It's an exchange-traded fund looking to go green in more ways than one.
Run by DWS Group, the Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) invests in public companies that are reducing their carbon footprints. It's a global strategy that's appears to be paying off. It's up 57% over the past two years.
There's plenty of demand for this style of net-zero carbon reduction strategy, according to the firm's head of systematic investment solutions Arne Noack.
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"EMCR is a broadly diversified emerging market index that really seeks to track the market capitalization-weighted index," he told CNBC's "ETF Edge" last week.
Noack, who runs the ETF, wants to help reduce the carbon footprint by 60% even though the urgency is changing.
Prices in the carbon credit market have collapsed in connection with the Russia-Ukraine war.
"The agenda has shifted somewhat very understandably," Noack said Monday. "But in the long run, the topic of climate change and carbon reduction will come back to a broader agenda."
Despite the ETF's strong performance, it has run into trouble. EMCR is off 3% since Russia invaded Ukraine last month. Plus, it's off 5% so far this year.