Kolkata, (IANS) : Asia Index Pvt Ltd, a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, is planning to introduce a new Sustainability Index in India aiming to capture holistic sustainability parameters, a top company official said here on Friday.

According to the official, the new index is expected in the current fiscal. S&P BSE Indices have two sustainability indices — S&P BSE Carbonex and S&P BSE Greenex — which are environment-oriented and remained as “non-movers”.

“We are already working toward introducing a new sustainability index that will try to capture holistic sustainability parameters. We are working with our partners and hope it could be out by this year,” the index provider’s Business Head Koel Ghosh said.

She said the index provider is waiting for data from RobecoSAM, an investment specialist focused exclusively on sustainability investing.

“They are currently capturing sustainability data from BSE 100 companies and once they come out with data, we will create the index on the basis of that data,” Ghosh said.

“The two existing sustainability indices were created in 2012. They are non movers. Apart from carbon and green house gas emissions, there are other parameters in the sustainability category. The new index will capture more parameters in the sustainability space,” Ghosh added.

She, however, said gradually passive investments have been gaining popularity through index based products. Assets under management for equity exchange-traded funds (ETFs) amounted to Rs 27,203 crore as of December 2016-35 times higher than it was three years ago.

An ETF holds assets such as stocks, commodities, or bonds. It trades on the stock exchange like any ordinary stock over the course of the trading day. Most ETFs track an index, such as a stock index or bond index.