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New Climate Change Index Series Launched by S&P Dow Jones Indices

stock marketThree new climate change index series — S&P Global 1200 Carbon Efficient Index Series, S&P Global 1200 Carbon Efficient Select Index Series and S&P Global 1200 Fossil Fuel Free Index Series — have been launched by S&P Dow Jones Indices.

All three index series are derived from the constituents of the S&P Global 1200.

The S&P Global 1200 Carbon Efficient Index Series is designed to measure the performance of the constituents of the S&P Global 1200, overweighting those that have lower levels of carbon emissions and underweighting those with higher levels, in their respective GICS sectors.

The S&P Global 1200 Carbon Efficient Select Index Series is also designed to measure performance of companies in the S&P Global 1200 that have a reduced carbon footprint. The methodology excludes those companies that have the largest relative carbon footprints rather than reweighting the constituents.

The carbon footprint for both of the Carbon Efficient and Select Index Series is defined as the company’s annual greenhouse gas emissions and is calculated by Trucost.

The S&P Global 1200 Fossil Fuel Free Index Series is designed to measure the performance of companies in the S&P Global 1200 that do not own fossil fuel reserves. The exclusion rules are based on any use of fossil fuels, including third party and in-house power generation. With respect to coal, the exclusion relates to thermal coal only and does not cover companies that are exclusively engaged in the extraction of metallurgical or coking coal. RobecoSAM conducted the research for ownership of fossil fuel reserves.

Last week S&P Dow Jones Indices and investment specialist RobecoSAM, which focuses exclusively on sustainability investing, today announced the results of the annual DJSI review. Bank of America, Telefonica and BHP Billiton are the three largest additions to the 2015 Dow Jones Sustainability Indices while Cisco Systems, PepsiCo and Royal Bank of Canada are the three largest deletions (by free-float market capitalization) to the DJSI World this year.

Photo Credit: stock market chart via Shutterstock

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