State Street Global Advisors has launched the SPDR Nuveen Municipal Bond ESG ETF.
Sub-advised by Nuveen, SSGA says the ETF is actively managed and designed to invest in municipal securities from issuers that are leaders in their sector in delivering ESG outcomes or whose proceeds are used towards positive environmental or social projects.
Tim Ryan, Shawn O’Leary and David Blair of SSGA will use Nuveen’s proprietary ESG Municipal Bond Scoring Tool to select bonds from issuers that are leaders in environmental stewardship, strong governance and positive social outcomes. The strategy consists of investment-grade, tax-exempt municipal securities ranging from 2 to 17 years in maturity issued by US municipalities.
“The fund is also designed to provide exposure to bonds whose proceeds are used towards positive environmental or social projects addressing critical issues including climate change, environmental degradation, inequality, poverty, and justice and are aligned with the UN Sustainable Development Goals.” says Brie Williams, head of practice management at State Street Global Advisors.