The first sustainability exchange-traded funds are in the works. Pax World Funds plans to launch three ETFs in the next year that track newly licensed sustainability indexes–indexes that weight companies on a broad range of positive criteria including their environmental, social and governance (ESG) records. Joe Keefe, president and ceo, said Pax World chose the ETF route for the new indexes because those types of offerings are selling better than traditional mutual funds right now.
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