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SSGA launches S&P 500 Fossil Fuel Free ETF

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State Street Global Advisors (SSGA) has launched the SPDR S&P 500 Fossil Fuel Free ETF (SPYX) on the NYSE Arca.

This new addition to SSGA’s Environmental, Social and Governance (ESG) line-up is designed to help investors seeking to eliminate fossil fuel reserves from their portfolio while maintaining exposure to the core of the S&P 500 Index.
 
"Motivated by concerns surrounding climate change, a growing number of our clients are seeking solutions that can help them divest from fossil fuel reserves while maintaining their strategic asset allocations," says James Ross, executive vice president and global head of SPDR Exchange Traded Funds at SSGA. "With the launch of SPYX, investors may be able to divest their US large cap allocations from fossil fuel reserves while benefitting from the liquidity, transparency and convenience of an ETF."
 
The SPDR S&P 500 Fossil Fuel Free ETF (SPYX) was developed with the support of the Natural Resources Defense Council (NRDC) to meet the needs of climate conscious investors. NRDC is a cornerstone investor in the fund, having found it to be an effective tool to invest in S&P 500 companies that do not own fossil fuel reserves.

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