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.

重要资料

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.

道明全球碳信用指数ETF

TSX Ticker

TCBN

基准

Solactive Global Carbon Credit TR CAD Hedged Index

Management Fee (%)

0.65

Risk Rating

高

分红次数

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”.

本文所含信息由道明资产管理有限公司提供，仅供参考。信息出自我们认为可靠的来源。图表仅供解说之用，并不反映任何投资的未来价值或未来表现。本信息并未提供财务、法律、税务或投资建议。具体的投资、税款或交易策略应根据每位投资者的目标和风险承受能力加以评估。 Commissions, management fees and expenses all may be associated with investments in ETFs. Please read the prospectus and ETF Facts before investing. 交易所买卖基金没有担保，其价值可能经常变化，且既往表现可能不会重现。交易所买卖基金单位在证券交易所按市场价格进行买卖，因此收益会因经纪人佣金的支付而减少。 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. 指数由Solactive AG计算和发布。Solactive AG会尽一切努力确保指数计算正确。无论对道明资产管理有限公司的义务如何，Solactive AG均没有义务向第三方指出指数的错误，包括但不限于投资者和/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.本文档中的部分陈述可能包含预测性的前瞻性陈述（“FLS”），其中包含“预计”、“预期”、“打算”、“认为”、“估计”和类似的前瞻性表述或其否定形式。前瞻性陈述基于当前对未来普遍的经济、政治、相关市场因素（例如利率和汇率、股票和资本市场）以及普遍经营环境的预计和预测，并假定不发生税法或其他法律或政府管制方面的任何变动或灾难事件。 Expectations and projections about future events are inherently subject to risks and uncertainties, which may be unforeseeable and may be incorrect in the future.前瞻性陈述并非对未来表现的保证。实际发生的事件可能与前瞻性陈述明示或暗示的事件存在实质差异。包括上文所述各项因素在内的多个重要因素均可能造成这种背离。您不应在任何程度上依赖于前瞻性陈述。所有商标均为其各自所有者的财产。 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.