Citing an increase in demand, UBS has partnered with PAMP-Suisse to create a new line of gold bullion bars that will be the investment vehicle that backs a new ETF geared towards “climate-conscious” investors.
The climate consciousness claims are derived from a partnership with not-for-profit-private company named Climate Trust.
Climate Trust has been providing solutions to the “Climate Crisis” since sometime between 1999-2001 and has raised at least $25 million from a variety of investors, according to Crunchbase.
The consultancy helps business and governments decarbonize using “industry standards” that appear to have been established by themselves. The organization reportedly audits the supply chain and helps facilitate the purchasing of carbon offsets to counter the CO2 emissions that are generated from mine to refinery and storage.
The carbon-neutral cast gold bars are refined and delivered to LBMA specifications.
The cost for investors to buy into this new ETF is significantly higher than the non-carbon neutral gold ETF already available to investors.
According to Greenpeace, carbon offsets are a part of a greenwashing scam and are part of the ESG movements efforts to guilt people into paying a higher amount for the sake of social or environmental justice.
It may be of greater impact for climate conscious investors to plant trees in their neighborhood or community as a more effective, less expensive and direct carbon offset rather than paying a higher premium to the bankers to invest in this new ETF.
