A global Exchange Traded Fund (ETF) of publicly traded plant-based food and cosmetics companies has launched on the New York Stock Exchange. VegTech Plant-based Innovation & Climate ETF is the first product from VegTech Invest and includes 37 publicly traded companies actively “innovating” with plants, plant-derived ingredients, and animal-free products.
“We are excited to be what we believe is the first pure-play ETF that invests in companies innovating with plants and producing animal-free products,” says VegTech Invest CEO and CMO Elysabeth Alfano.
“We believe that today’s investors want a more resource-efficient, climate-friendly, and cruelty-free food and materials supply system,” Alfano says.
“My partner Sasha Goodman and I are excited to offer an ETF that empowers the average person to invest with their values and participate in this large-scale, secular trend.”
Ethical enterprise
VegTech Invest is an ethical investment management firm that aims to drive ethical enterprise and innovation. The firm works with companies that produce products to help alleviate global issues such as climate change, food security, deforestation and animal cruelty.
“With this ETF, I am excited to drive capital to plant-based innovation companies. I also hope to encourage public companies to lead the way and replace animal products with innovations that are better for people, the planet and the animals,” says Sasha Goodman VegTech Invest president and fund manager.
A June 2020 study by Aramak found that 65% of Gen Zers want a more “plant-forward” diet, and that 79% either do or would agree to eat meatless meals once or twice a week. According to a March 2021 report by Boston Consulting Group, the alternative protein market will be around $290B by 2035.
“We believe that we are on the cusp of a long-term, secular trend of plant-based innovation that will result in the disruption of the global food and materials supply chain for a more efficient, climate-friendly and cruelty-free system. The VegTech ETF is dedicated to providing exposure to this key and growing trend,” the firm says.
Edited by Olivia Nelson
Source: foodingredientsfirst.com
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
