Nyse Euronext and its partner, research company Bloomberg New Energy Finance, today announced that they have renamed their family of clean energy indices.
The indices have changed as of 1 March 2013 from NYSE BNEF to NYSE Bloomberg, to highlight more effectively the involvement of both NYSE and Bloomberg in this clean energy index series. The tickers of the indices will also be updated to ensure that they are easy to find and track.
The clean energy indices are based on Bloomberg New Energy Finance's database of organizations involved in clean energy and related sectors. This database has unique depth, incorporating the clean energy exposure of each company, ongoing expert analysis of sector definitions and boundaries, constancy of data upkeep and a true global approach to tracking all equities regardless of which exchange they are on. Bloomberg New Energy Finance analysts are presently tracking well over 1,000 non-OTC quoted organizations with a moderate (10% or greater) percentage of their activity in clean energy.
"The NYSE Bloomberg index family has proven to be a valuable addition to the NYSE Euronext Indices portfolio, providing a solid foundation for tracking the economic exposure for clean energy initiatives," said George Patterson, managing director European indices at NYSE Euronext Indices, "including the Bloomberg brand into the name will offer greater exposure for these innovate products"
Jon Moore, chief operating officer of Bloomberg New Energy Finance, commented: "This group of indices has already shown its value to investors in highlighting the different geographical and sector trends going within a global clean energy industry that is now large and diverse.
For instance, in the last year, the NYSE Bloomberg Americas Clean Energy Index and the NYSE Bloomberg Global Energy Smart Technologies Index have out-performed the other four sector and geographical indices. Meanwhile, the NYSE Bloomberg Global Solar Energy Index, which was the weakest performer for most of last year, hit a low in late November 2012, and has since rallied by no less than 35%."
Bloomberg New Energy Finance partners with NYSE Euronext, to benefit from the latter's experience in investable indices and exchange-traded products. NYSE Euronext has been involved in developing and calculating clean energy equity index products for the better part of a decade.
The NYSE Bloomberg Index family currently consists of the following six Indices:
• The NYSE Bloomberg Global Wind Energy Index (ticker WIND), is comprised of companies active along the wind energy value chain including the manufacture of generating equipment and the financing, development and operation of wind projects. This is an investable, modified market-cap-weighted index that uses Bloomberg New Energy Finance's proprietary rating system to determine company exposure to the wind sector.
• The NYSE Bloomberg Global Energy Smart Technologies Index (ticker EST), is comprised of companies active across the advanced transportation, digital energy, energy efficiency and energy storage sectors. This is an investable, modified market-cap-weighted index that uses Bloomberg New Energy Finance's proprietary rating system to determine company exposure to EST sectors.
• The NYSE Bloomberg Global Solar Energy Index (ticker SOLAR), is comprised of companies active along the solar energy value chain including the manufacture of photovoltaic and solar thermal components and equipment and the financing, development and operation of solar projects. This is an investable, modified market-cap-weighted index that uses Bloomberg New Energy Finance's proprietary rating system to determine company exposure to the solar sector.
• The three regional indices, NYSE Bloomberg Asia Pacific Clean Energy Index (ticker CLEANAPA), NYSE Bloomberg Europe, Middle East and Africa Clean Energy Index (ticker CLEANEME) and NYSE Bloomberg Americas Clean Energy Index (ticker CLEANAME), each follow a basket of between 125 and 325 companies with a moderate, or greater, exposure to renewable energy and energy-smart technologies. These industries have seen rapid growth in capital spending - with global new investment in clean energy reaching $269bn in 2012, more than five times the figure of eight years earlier - but also sharp shifts in market share and geographical profile.