![\"Amanda](\"https:\/\/oceana.org\/wp-content\/uploads\/sites\/18\/2023\/03\/Amanda-Lechenet-400x355.png\")
Now, as New York Life\u2019s Corporate Vice President of ESG (environment, social, and corporate governance) and Corporate Responsibility, Lechenet has once again found herself supporting sustainability initiatives, including an initiative by New York Life Investments (New York Life\u2019s global asset management business) to create a new suite of investment products aligned with leading nonprofit organizations like Oceana. These are called the IQ Dual Impact EFTs. <\/p>\n\n\n\n
\u201cETF stands for exchange traded fund, which is similar to a mutual fund – it invests in a basket of securities, but an ETF can be purchased or sold on a stock exchange the same way a regular stock can, making them widely and easily available,\u201d Lechenet explained. \u201cThink about the dual impact ETFs as having \u2018me-focused\u2019 returns and \u2018we-focused good.\u2019\u201d <\/p>\n\n\n\n
One of the Dual Impact ETFs that New York life created is the IQ Clean Oceans ETF (OCEN). It invests in companies that help \u201cprotect and\/or achieve cleaner oceans through reduced pollution and increased resource efficiency.\u201d Oceans not only perform essential roles like absorbing carbon dioxide and providing food to billions of people; they play an important role in the economy too, Lechenet pointed out. \u201cNinety percent of trade uses sea routes and it\u2019s a source of jobs for millions of people…The ocean will continue to play a bigger role in meeting people\u2019s needs through trade and food.\u201d The blue economy is growing at twice the rate of the mainstream economy and already contributes $2.5 trillion annually to the global economy. <\/p>\n\n\n\n
In connection with OCEN, New York Life Investments contributes an amount based on the ETF\u2019s management fee to support Oceana\u2019s campaigns, including the campaign to reduce the flood of plastic pollution entering the oceans. \u201cIt\u2019s fantastic that we can see the impact of our support for Oceana through their successful campaigns,\u201d Lechenet added, pointing to major victories last year including bold new legislation in California to reduce single-use plastics and a commitment from Coca-Cola to sell 25% of its products in reusable packaging. \u201cIt\u2019s clear that we can achieve great things when we work together toward a shared goal.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"