Not all Commodity ETFs are Created Equal

Gain exposure to the carbon credit market through TD Global Carbon Credit Index ETF (TCBN). Managed by TD Asset Management Inc. (TDAM), one of the largest and most experienced investment managers in Canada. For more information on TD ETFs and ETFs in general visit our TD ETF Resource Centre.

What is a carbon credit?

TCBN seeks to track the performance of a global carbon credit index which measures the investment return of global cap-and-trade carbon credits. A carbon credit is a tradeable permit or certificate issued through a regulatory organization allowing the holder to emit a certain amount of CO2 or other greenhouse gases (GHGs). Carbon credits have emerged as an important alternative asset class as countries around the world have sought a meaningful way to reduce carbon emissions in an effective, market-friendly fashion.

Why invest in carbon credits?

  • A unique and growing sector

    With the proliferation of carbon pricing programs and as markets transition from traditional carbon-emitting fossil fuels to more sustainable energy sources, the carbon credit market is expected to continue to grow well into the future1.

  • Low correlation to traditional asset classes

    Gain exposure to an asset class that historically has low correlation to equity and fixed income markets. Choosing assets with low correlation with each other may help to reduce the risk of a portfolio.

  • Participate financially in the energy transition economy

    TCBN offers the opportunity to financially participate in the energy transition from carbon-emitting fossil fuels to more sustainable energy sources through exposure to the carbon credit market.

Key Features of TCBN

Exposure to largest and most liquid carbon credit markets
Access the global carbon credit markets, primarily the European Union’s (EU) Emissions Trading System, the largest and most liquid carbon market in the world and a cornerstone of the EU's policy to combat climate change.

A strategic investment approach
TDAM will conduct a semi-annual review of global carbon emission markets to determine suitability and may expand its exposure to carbon credits that trade on other global Emissions Trading Systems as those markets mature, offering further opportunities for growth.

Opportunity for enhanced portfolio returns
The supply and demand of carbon credits establishes the market price. The supply of carbon credits is set to decrease as jurisdictions commit to the goal of lowering carbon emissions to meet strict pollution standards. In addition, demand for carbon credits is estimated to increase in the future - offering significant growth potential. TCBN also leverages the decades of investment experience of one of the largest asset managers in Canada.

Low-cost
One of the lowest management fees in North America for its asset class.

重要資料

Below are the current target holdings of the TCBN ETF, subject to change. The portfolio manager in conjunction with the index provider intends to provide investors exposure to the most liquid carbon credit markets in the world. As new markets develop and become more liquid, they may be added to the index, and in turn the ETF.

Holdings (Notional Exposure)

*The ETF may use derivatives such as futures contracts, and/or total return swaps to gain needed exposures.

道明全球碳信用指數ETF

TSX Ticker

TCBN

基準

Solactive Global Carbon Credit TR CAD Hedged Index

Management Fee (%)

0.65

Risk Rating

高

分紅次數

Annually, if any

TCBN Additional Resources

Thought Leadership Papers

基金卡

Product Overview

Q&A

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1Source: Refinitiv 2022, “Carbon Markets Year in Review 2021”.

本文所含資訊由道明資產管理有限公司提供，僅供參考。內容乃出自可靠之來源匯編而成。圖表僅供解說之用，並不反映任何投資的未來價值或未來表現。本文並不提供任何財務、法律、稅務或投資建議。衡量個別投資、稅務或交易策略時，應考慮個別人士的目標和風險承受能力。 Commissions, management fees and expenses all may be associated with investments in ETFs. Please read the prospectus and ETF Facts before investing. 交易所買賣基金沒有擔保，其價值可能經常變化，且過去表現未必會重現。交易所買賣基金的單位在證券交易所按市場價格進行買賣，因此經紀人佣金的收取會減少回報。 TD ETFs are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank. The TD Global Carbon Credit Index ETF ("TD ETF") is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Solactive Global Carbon Credit Index (CA NTR) ("Index") and/or any trademark(s) associated with the Index or the price of the Index at any time or in any other respect. 指數由Solactive AG計算和發佈。Solactive AG會盡一切努力確保指數計算正確。無論對道明資產管理的義務為何，Solactive AG均沒有義務向第三方指出指數的錯誤，包括但不限於投資者和/或TD ETF的金融中介。 Neither publication of the Index by Solactive AG nor the licensing of the Index or any trademark(s) associated with the Index for the purpose of use in connection with the TD ETF constitutes a recommendation by Solactive AG to invest capital in said TD ETF nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in this TD ETF.本文檔中的部分陳述可能包含預測性的前瞻性陳述（「FLS」），其中包含「預計」、「預期」、「打算」、「認為」、「估計」和類似的前瞻性表述或其否定形式。前瞻性陳述基於當前對未來普遍的經濟、政治、相關市場因素（例如利率和匯率、股票和資本市場）以及普遍經營環境的預計和預測，並假定不發生稅法或其他法律或政府管制方面的任何變動或災難事件。 Expectations and projections about future events are inherently subject to risks and uncertainties, which may be unforeseeable and may be incorrect in the future.前瞻性陳述不是對未來表現的保證。實際發生的事件可能與前瞻性陳述明示或暗示的事件存在實質差異。包括上文所述各項因素在內的多個重要因素均可能造成這種背離。您不應在任何程度上依賴於前瞻性陳述。所有商標均為其各自所有者的財產。 TD Asset Management Inc. is a wholly-owned subsidiary of The Toronto-Dominion Bank. ® The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.