ETRACS Gold Shares Covered Call ETNs due February 2, 2033.
GLDI.US | Trusts, funds and similar financial entities
The ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI.US) is an Exchange Traded Note (ETN). It provides a return linked to the monthly compounded return of the ISE Gold Shares Covered Call Index. This index tracks a strategy that combines a long position in shares of the SPDR Gold Trus...Show More
Better Health for All
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GLDI.US is an Exchange Traded Note (ETN).
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The 'Better Health for All' value assesses organizations that develop accessible medical treatments, provide preventative healthcare, or champion wellness programs. The provided articles describe GLDI.US as a financial product and explicitly state that no data relevant to 'Better Health for All' metrics is present for its direct operations or products.
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While several articles discuss the negative health and environmental impacts of gold mining in general, these impacts are associated with mining operations, not with GLDI.US as a financial instrument or its issuer's direct activities. Therefore, there is no direct evidence to score GLDI.US against any of the 'Better Health for All' KPIs.
Fair Money & Economic Opportunity
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No evidence available to assess ETRACS Gold Shares Covered Call ETNs due February 2, 2033 on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
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GLDI.US is an Exchange Traded Note (ETN) issued by UBS AG.
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, linked to the SPDR Gold Trust (GLD). As an ETN, it does not have its own workforce or operational activities that would generate data for 'Fair Pay & Worker Respect' KPIs. The provided articles discuss general issues within the gold mining industry, such as child labor and working conditions in artisanal and small-scale mining, or provide financial details about the ETN and its underlying asset. However, none of the articles offer specific, concrete data points related to the workforce, labor practices, or supply chain labor conditions directly attributable to GLDI.US, its issuer UBS AG, or the SPDR Gold Trust. Therefore, no KPIs can be scored based on the evidence provided.
Fair Trade & Ethical Sourcing
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No relevant evidence was found in the provided articles to assess GLDI.US against the 'Fair Trade & Ethical Sourcing' value. The single article provided resulted in a 404 error, containing no specific data points for any of the KPIs.
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Honest & Fair Business
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UBS AG, the issuer of GLDI.US, was fined 75,000 euros by a French court for psychologically harassing whistleblowers.
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The court also found UBS AG guilty of creating a tax evasion system.
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This constitutes documented retaliation against whistleblowers and a severe ethical controversy, indicating a failure in anti-corruption measures.
Kind to Animals
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UBS Arena, an operation associated with the ETN's issuer, UBS AG, sources 100% of its eggs from cage-free hens.
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The arena also sources antibiotic and hormone-free proteins and grass-fed beef where applicable.
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Furthermore, the arena's seafood meets the Monterey Bay Aquarium’s Sustainable Seafood Watch rating.
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The company's policy framework states 0% involvement in animal testing, which aligns with the N/A tier for animal testing policy for a service-oriented company.
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No War, No Weapons
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No specific, concrete evidence was found in the provided articles regarding GLDI.US's direct involvement in arms manufacturing, military contracts, conflict facilitation, or any related activities. The articles discuss general defense spending, ethical investment considerations, or details about the underlying SPDR Gold Trust (GLD), but do not provide data points for GLDI.US relevant to any of the 'No War, No Weapons' KPIs.
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Planet-Friendly Business
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The global gold market's total annual greenhouse gas emissions were 126.359 million tCO2e in 2019, with 45.49 million tCO2e from Scope 1, 54.914 million tCO2e from Scope 2, and 25.118 million tCO2e from Scope 3.
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The World Gold Council (WGC) has published guidance on Scope 3 GHG emissions accounting and reporting, and the industry has identified a credible pathway to net zero by 2050.
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However, the industry lacks validated science-based targets, with only vague commitments to limit warming to <2°C (80% reduction by 2050) and 1.5°C (92% reduction by 2040).
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The share of operational energy from renewables is increasing, with Kinross Gold Corp. increasing its overall renewable energy use from 36% to 66% between 2020 and 2023, and Ecuador's national electricity grid, which powers some mines, being 81% renewable in 2023.
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Gold mining is a significant source of waste, with the production of one wedding ring generating 20 tons of waste, and heap leaching resulting in 99.99% of the heap becoming waste.
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The industry has undertaken environmental impact assessments, with the Nature Risk Profile methodology applied to 122 gold mine sites.
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In 2021, all WGC members committed to reporting climate-related risks in line with TCFD recommendations.
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The WGC has also undertaken research on climate-related risks and opportunities.
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Biodiversity efforts include examining 15 local mine site-level responses, plans, and projects for risk mitigation and positive improvement.
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The industry faces significant environmental compliance issues, with metal mining being the number one toxic polluter in the United States in 2010, releasing 1.5 billion pounds of chemical waste annually, and over 221 major tailings dam failures recorded.
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The WGC supports a project to develop gold-based catalysts to convert CO2 into useful materials.
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Respect for Cultures & Communities
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No specific, concrete evidence was found in the provided articles regarding GLDI.US's performance on any of the KPIs related to Respect for Cultures & Communities. The articles discuss general impacts of gold mining or responsible sourcing principles, but do not provide data directly attributable to GLDI.US, its issuer UBS AG, or the underlying SPDR Gold Trust (GLD) in the context of these metrics.
Safe & Smart Tech
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No evidence available to assess ETRACS Gold Shares Covered Call ETNs due February 2, 2033 on Safe & Smart Tech.
Zero Waste & Sustainable Products
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The provided articles do not contain specific, quantifiable evidence related to the Zero Waste & Sustainable Products value for GLDI.US or its issuer, UBS AG. While mentions that UBS Group AG holds ISO 14001 and ISO 50001 certificates, these are general environmental and energy management system certifications and do not provide concrete data points for any of the specific KPIs in the rubric, such as waste diversion rates, product recyclability, or waste reduction targets.
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The other articles discuss the environmental impact of gold mining and gold recycling in general, but do not provide information specific to GLDI.US or its issuer's waste management practices or product sustainability.