It may pay to invest green, but Israeli green funds are momentarily in the red, reports the Israeli business newspaper, The Marker.
Israeli green mutual funds trading on the Tel Aviv Stock Exchange (TASE) invest primarly in foreign companies. The growth of the shekel, the nosedive of the dollar, plus a decline in the cost of oil have contributed to the crashing of green company stocks.
Altshuler Green Fund (see PDF), the first green fund on the Israeli scene (founded in 2005) reached a high of NIS 550 million and now manages NIS 390 million in assets. Late last year the company launched the Green Extreme to fund cleantech companies who have not yet proven their feasibility.
Despite the recent weak performance of its green shares, Altshuler reports that many green companies are growing by about 30 percent a year.
Says Elad Kook who heads the cleantech division at IBI, “figure we are at the beginning of an awakening to the global warming problem, and are just starting to understand the technologies of the companies in the green energy sector.”
For those with a green investment thumb, he recommends wind energy equipment manufacturers, such as Gamesa and Vestas, and energy demand management companies, such as Comverge, and Camco, which trades in carbon-dioxide emissions quotas.
But don’t stop here, read a Green Prophet interview on Israel green investments ::A Green Shekel, Ethical Financial Investment in Israel. Or :: Bjorn Lomborg Lectures Israel on Enviro-Funding