The Tortoise Recycling Decarbonization Index℠ is designed to track the performance of publicly traded companies involved in waste-to-energy and recycling technologies as part of the global decarbonization mega trend.

Index Stats as of 3/18/2024:

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Price Return Ticker


Total Return Ticker


Base Date


Inception Date


Calculated by

Solactive AG



Number of Constituents


Market Capitalization

$785 billion

Average Constituent Size

$20,525 million

Median Constituent Size

$3,874 million


Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that primarily produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.

Key Eligibility Requirements

  • Decarbonizing waste-to-energy and recycling: Companies that derive revenue, operating profit, own assets or capital expenditures in decarbonizing waste-to-energy and recycling related businesses included in the TortoiseEcofin proprietary database of 462 global energy companies with an aggregative market cap of $8.0 trillion.
  • Market capitalization:Companies must have a total equity market capitalization of at least U.S $200 million for two consecutive quarters at the time of inclusion in the index.
  • Trading volume: companies must have a minimum U.S. $1 million average daily trading volume for 3 months before the index screening date.
  • Listing exchange: : In the developed markets, companies must list their shares on one of the stock exchanges in the U.S., Europe, the Tokyo Stock Exchange, or on stock exchanges in Australia, Israel, New Zealand, Hong Kong, Singapore or Canada. In the developing markets, companies must have their shares listed on a stock exchange in one of the following countries:  Brazil, Chile, China, Czech Republic, Hungary, Indonesia, Korea, Malaysia, Mexico, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, or Turkey.
  • No individual security in the index may be more than a 7% weight of the total index market cap as of the reference date



Index Performance (as of 6/30/2024) 1 Year Since Inception
Total Return -24.35% -10.63%

Net Total Return History

(as of 7/11/2024)

Price Return History

(as of 7/11/2024)


Sector Allocations

As of latest rebalance date (3/18/2024)

Top 10 Constituents

As of most recent rebalance date (3/18/2024)
Date Index Weight
Ameresco Inc
Clariant AG
PureCycle Technologies Inc
Casella Waste Systems Inc
Darling Ingredients Inc
Date Index Weight
Energy Absolute PCL
Waste Connections Inc
Republic Services Inc
Waste Management Inc.
Neste Oyj

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