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Citic Carbon Asset, BBVA to launch Jim Rogers-designed index

Thu, 02/17/2011 - 8:28am
Reuters

HONG KONG (Reuters) - A unit of China's CITIC Group and Spain's second-biggest bank Banco Bilbao Vizcaya Argentaria (BBVA) plan to launch an equity index based on resources-related companies picked by commodities investment guru Jim Rogers.

The main index, Rogers Global Resources Equity Index (RGREI), will be comprised of 200 stocks in five sub-sectors, including agriculture, alternative energy, forestry, energy and metals & mining, said Gao Ang, chief operating officer of CITIC Carbon Asset Management, a new unit of CITIC.

China's plans to cut carbon intensity -- emissions produced per unit of GDP growth -- by 40-45 percent from 2005 to 2020 have sparked investor interest in ways to tap into the opportunity presented by the shift.

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