Underlying Asset Performance: BGWH39.SA tracks the S&P Global Clean Energy Index, so the performance of the companies within that index directly impacts the ETF's price.

Supply and Demand: Increased investor demand for the ETF can drive up its price, while increased selling pressure can lower it. Market sentiment plays a key role.

Interest Rates: Changes in interest rates can affect the attractiveness of clean energy investments and consequently, the demand for BGWH39.SA.

Currency Exchange Rates: As the ETF may hold global assets, fluctuations in exchange rates between the Brazilian Real (where it is listed) and other currencies can influence its price.

Economic Conditions: Overall economic growth or recession can affect investor sentiment towards renewable energy and influence investment decisions in BGWH39.SA.

Government Policies: Government subsidies, regulations, and tax incentives related to renewable energy can significantly impact the profitability of companies held by the ETF, affecting its price.