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.”
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
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
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