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
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.
