Goldman Sachs Group Inc said in a filing on Monday it would launch a new climate-focused index-tracking exchange-traded fund.
Launch of the Goldman Sachs S&P 500 Environmental & Socially Responsible ETF comes on the heels of the recent landmark agreement on climate change at the global climate summit in Paris.
Earlier this month, Boston-based custody bank State Street Corp launched its first fossil-fuel free ETF, citing investors' concerns over climate change.
The Goldman Sachs ETF will hold stocks in S&P 500 companies that are not heavily involved in the production of coal, oil, gas, tobacco and military armaments.
Goldman Sachs declined to comment on the new ETF.