Global X Funds [see profile] is throwing a big stink about its new offering. That's because the ETF provider today launched the Global X Waste Management ETF. Its portfolio is approximately evenly divided among the disposal of hazardous waste, non-hazardous waste and recycling sectors.

According to the firm, the world’s population growth and burgeoning middle class is creating a steady rise in demand for energy and consumer products, with an ever-increasing need for sanitation and waste-disposal services. The proper disposal of hazardous and non-hazardous waste is a critical and growing aspect of many industries, especially as corporations are held more accountable for the waste they produce. Investors in the new offering may stand to benefit from mandatory safety standards and environmental regulations imposed on these companies, which enforce the removal of pesticides, petrochemicals, nuclear, and industrial waste.

The Global X Waste Management ETF tracks the Solactive Global Waste Management Index, which tracks the price movements in shares of companies which are active in the hazardous waste, non-hazardous waste and recycling industries. As of April 7, 2011, the three largest components of the index were Stericycle Inc., Waste Management Inc., and Veolia Environnement SA. Global X charges a management fee 65 basis points for the ETF.  

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