FAQ

Frequently Asked Questions
S&P DJI ESG Scores
COMPANY BACKGROUND
1. Who is S&P Dow Jones Indices? S&P Dow Jones Indices (S&P DJI) is home to iconic
financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. The
largest global resource for essential index-based market concepts, data, and research, it is amajor investor resource to measure and trade the markets.

ESG at S&P DJI
S&P Dow Jones Indices has been a pioneer in environmental, social, and governance (ESG)
indexing for 20 years, starting with the 1999 launch of the Dow Jones Sustainability World
Index. Today, we offer an extensive range of indices to fit varying risk/return and ESG
expectations, from core ESG and low-carbon climate approaches to thematic and fixed income
ESG strategies.
2. Where does S&P DJI get its ESG data? S&P Global provides the data that powers theglobally recognized Dow Jones Sustainability Indices (DJSI), S&P 500 ESG Index, and others in
the S&P ESG Index Series. Each year, S&P Global conducts the Corporate Sustainability
Assessment (CSA), an ESG analysis of over 11,000 companies. The CSA has produced one of
the world’s most comprehensive databases of financially material sustainability information andserves as the basis for the scores that govern S&P DJI’s ESG indices.

S&P DJI ESG SCORES
General Questions
1. What are the S&P DJI ESG Scores? S&P DJI ESG Scores are environmental, social, andgovernance scores that robustly measure ESG risk and performance factors for corporations,with a focus on financial materiality. They are a second set of ESG scores calculated by S&P
Global ESG Research, in addition to the S&P Global ESG Scores that are used to define the
Dow Jones Sustainability Indices constituents.
The S&P DJI ESG Scores are the result of further scoring methodology refinements to the S&P
Global ESG Scores that result from S&P Global’s annual Corporate Sustainability Assessment(CSA), a bottom-up research process that aggregates underlying company ESG data to scorelevels. The scores contain a total company-level ESG score for a financial year, comprisingindividual environmental (E), social (S), and governance (G) dimension scores, beneath which
there are on average over 20 industry-specific criteria scores that can be used as specific ESG
signals (see Exhibit 1).1

1

The number of criteria a company can be assigned depends on how many are material to the company, ranging from 16 to 27.

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S&P DJI ESG Scores

Exhibit 1: S&P DJI ESG Score Aspect Levels

Source: S&P Global. Chart is provided for illustrative purposes.

A company’s total ESG score is the weighted average of all criteria scores and their respective
weights. Each individual ESG dimension score (e.g., a company’s “E” score) is the weighted
average of all criteria scores and weights within a specific ESG dimension. Total ESG scores
range from 0-100, with 100 representing best performance.
2. How can the S&P DJI ESG Scores be used? The S&P DJI ESG Scores—criteria, dimension,or total scores—can be used for a broad range of research and investment purposes, including:
•

•

•
•

Portfolio Exclusions/Best-in-Class Screens: Defining an investable universe by
excluding securities based on their scores to reduce exposures to reputational risk or
to allay performance, ethical, or client concerns.
ESG Integration: Analyzing the risk of low (and opportunities of high) ESG scorecompanies on different ESG criteria and the correlation of ESG and financial
performance.
Tilts: Targeting improved ESG performance alongside benchmark returns or
integrating criteria-level ESG themes into other factor strategies.
Shareholder Voting and Engagement: Identifying laggards within industries to enabletargeted and evidence-based company engagements.

3. What is the coverage and history available for the scores? The S&P DJI ESG data
provides scores for companies participating in the Corporate Sustainability Assessment (CSA),
and those analyzed by S&P Global ESG Research’s analysts starting in 2013. Company
participation rates have seen a steady rise from the 280 initial respondents in 1999 to the 1,436
companies in 2020.

FAQ

2

S&P DJI ESG Scores

Exhibit 2: S&P DJI ESG Score Coverage Rates
Company Responses

14,000S&P Global-Analyzed

12,000Companies

10,0008,000
10,120
6,000
6,402

4,000

2,000

0

2,063

2,000

818

830

2,961

3,096

864

867

3,700

3,771

948

996

1206

1,436

2018

2019

2020

2013
2014
2015
2016
2017
Source: S&P Global. Data as of Dec. 31, 2020. Chart is provided for illustrative purposes.

The coverage of the S&P DJI ESG Scores for the 2020 methodology year was approximately
11,556 companies: 1,436 companies that responded to the CSA questionnaire directly, andanother 10,120 companies analyzed by S&P Global using publicly available company
disclosures.
4. Why are ESG scores important? Our scores do not simply measure company transparency
and completeness of public reporting, but they also critically assess company performance on
ESG issues. The majority of ESG scores available on the market are skewed toward rewarding
companies that simply disclose ESG issues, irrespective of how well the company may or may
not be managing its actual performance on these matters. Our methodology accounts for bothand further rewards companies that disclose material and underreported sustainability topics
that are of growing importance to investors. For example, the Corporate Sustainability
Assessment (CSA) asks questions on topics like corporate lobbying and tax avoidance, both ofwhich are often underreported by companies today.
This direct engagement with companies affords us a much deeper and time-sensitive review of
how they are managing certain ESG issues, with access to real-life examples to substantiate
their performance on such matters. The methodology also incorporates Media and Stakeholder
Analysis (MSA) using real-time information to account for company controversies on an ongoingbasis.
5. When are S&P DJI ESG Scores released? Scores are updated annually with one data
release per company, per methodology year, with the exception of possible updates to acompany score as a result of a Media and Stakeholder Analysis (MSA) case. Scoring based oncompany responses is conducted between June (the deadline for submissions) and September(when the Corporate Sustainability Assessment [CSA] results and DJSI members areannounced). Respondents have from April to June to submit their responses. Only companies
FAQ

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S&P DJI ESG Scoresthat are part of the DJSI-invited universe are eligible for the DJSI. Additional companies areassessed after September, using publicly available data, and results of this assessment are
made available in March before the following year’s CSA invitation letters are distributed.
S&P Global has a quarterly MSA review cycle, after which scores are updated. Major MSA
cases can be raised at any time throughout the year if deemed appropriate by the S&P Global
ESG Research analysts.
6. Are S&P DJI ESG Scores used in the calculation of the DJSI Series? No. The S&P DJIESG Scores are not used in the calculation of the DJSI Series, but the S&P Global Corporate
Sustainability Assessment (CSA) questionnaire responses from companies are used to derive
the S&P Global ESG Scores (see Exhibit 3 in question 7) that are used to define the eligibility
criteria for the DJSI. The S&P DJI ESG Scores are used in the S&P ESG Index Series.
7. What are the differences between the S&P Global ESG Scores and the S&P DJI ESG
Scores? While several components of the scoring process are the same, such as theunderlying research methodology, data collection, and quality assurance, there are meaningful
differences in the scoring process between S&P Global ESG Scores and S&P DJI ESG Scores.
Exhibit 3 helps to distinguish the main differences between the two types of scores.
Exhibit 3: Characteristics of the S&P Global ESG Scores and the S&P DJI ESG Scores
CRITERIA

S&P GLOBAL ESG SCORES

Underlying Research
Methodology

S&P Global Corporate Sustainability Assessment (CSA)

Calculation Agent

S&P Global ESG data, ratings, and benchmarking

Review Frequency

Annually (with quarterly controversy updates)

Data Collection
Quality Assurance
Company Controversy
and Risk Screening

S&P DJI ESG SCORES

Direct company participation through CSA or assessment of publicly available data by S&P Global
ESG Research analysts
Detailed, multi-tiered quality control process according to S&P Global guidelines. Annual
independent third-party assurance on research and quality control process
S&P Global Media & Stakeholder Analysis (MSA)

Aggregation of data points by predefined CSA
methodology. Unanswered questions that are not
Question Scoringmandatory are not scored. Mandatory questions thatare unanswered are given a score of 0. Questionlevel scores are normalized within industry.
Predefined industry CSA weights determined by S&P Global, based on financial materiality of
Question Weights
sustainability factors to the specific industry
Question scores are aggregated to a criteria score.
Question scores are aggregated to a
Weight of unanswered questions is redistributed
Criteria Scoring
criteria score.
among other questions within the criteria, if they are
not mandatory, to maintain criteria weights.
Predefined industry CSA weights determined by S&P Global, based on financial materiality of
Criteria Weights
sustainability factors to the specific industry
Criteria scores are aggregated to a dimension
score. If all questions in a criteria are unanswered,
Criteria scores are aggregated to a
Dimension Scoring
the weight of the criteria is redistributed among
dimension score.
other criteria within a dimension (environmental,
governance, and social).
Dimension weights are always preserved according to the original S&P Global weighting scheme,
Dimension Weights
irrespective of how criteria questions are answered.
Absolute score resulting from the weighted sum of
Absolute score resulting from the weighted
all criteria and dimension scores. Total ESG score is
Total ESG Score
sum of all criteria and dimension scoresthen adjusted using distribution standardization
approaches to place scores between 0 and 100.
Relative (scores are normalized within assessed
Score Type
Absolute
CSA industry)
Source: S&P Global and S&P Dow Jones Indices LLC. Table is provided for illustrative purposes.
Aggregation of data points by predefined
CSA methodology. Unanswered questions
are given a score of 0.

FAQ

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S&P DJI ESG Scores

8. How does the S&P DJI ESG Score data differ from that offered by S&P Global Trucost?
S&P Global Trucost provides several focused carbon, environmental, and fossil fuel quantitative
data sets, often providing the absolute quantities of a specific resource used or generated by acompany. The S&P DJI ESG Scores provide scores across broader ESG criteria anddimensions, in addition to an aggregate ESG score.
9. How can I find out more about the S&P DJI ESG Scores? For further information on thescores and the scoring methodology, please refer to the S&P DJI ESG Score Methodology. For
information relating to licensing the S&P DJI ESG Scores, please contact your S&P DJI accountrepresentative or visit spglobal.com/spdji/en/contact-us.

Methodology
10. What is the S&P Global Corporate Sustainability Assessment (CSA)? The CSA is a rulesbased questionnaire that provides a comprehensive and best-in-class assessment of acompany’s ESG performance. The assessment focuses on financially material and industryspecific sustainability issues that have a link to long-term financial performance. This
assessment identifies companies that are better equipped to recognize and respond to
emerging sustainability opportunities and challenges presented by global and industry trends.
Companies are evaluated based on a range of financially relevant sustainability criteria,
covering environmental, social, and governance dimensions. Their responses to questions are
assigned scores that are aggregated into criteria, dimension, and total ESG scores, using a
respective industry-specific weighting scheme.
Questions within each set of criteria aim to evaluate the following aspects of a company.
1. Awareness of the importance of ESG factors to company financial success
2. Determination of the potential financial impact (i.e., materiality) of company exposures to
ESG factors
3. Implementation of strategies to manage these ESG risks or to capitalize on related
opportunities in a manner that is consistent with its business models
4. Measurement of results in relation to stated Key Performance Indicators (KPIs) in orderto evaluate the effectiveness of its sustainability strategy
5. Validation or external audit of stated results
6. Transparent communication of its corporate sustainability strategies and extent to whichstated targets have been met
11. How does S&P Global ESG Research perform the Corporate Sustainability Assessment(CSA) annually? S&P Global ESG Research has separate questionnaires for each of its 61
industries, with general and industry-specific questions. This allows for comparison of ESG
performance across industries, while also accounting for significant differences in materiality ofdifferent ESG criteria across industries.
The 61 questionnaires contain up to 120 questions, with each question often containing several
elements. Across all questionnaires, up to as many as 1,000 different company data points arerequested from respondents, which S&P Global ESG Research then uses to score eachcompany’s performance in relation to each specific ESG subject using evidence-based
performance assessments. These question scores are then used to determine a criteria-level

FAQ

5S&P DJI ESG Scoresscore according to each industry questionnaire’s weighting methodology (see Exhibit 1 inquestion 1).
The CSA methodology also includes S&P Global ESG Research’s Media and Stakeholder
Analysis (MSA) that continually monitors companies for any specific ESG controversy. MSA
cases have the potential to negatively affect the score of one or several criteria, resulting in theadjustment of scores.
12. Who performs the Corporate Sustainability Assessment (CSA)? The CSA questionnaires
are either completed by companies directly, or on behalf of non-participating companies by S&P
Global ESG Research’s team of analysts using publicly available company disclosures.
13. What determines the weights assigned to each question in the Corporate Sustainability
Assessment (CSA)? How do the scores account for ESG materiality? Our methodology
strives to account for all relevant ESG issues and places a higher weight on the areas ofgreatest significance within specific industries. S&P Global ESG Research conducts a financial
materiality analysis to identify those sustainability factors that drive business value and thathave the greatest impact on the long-term valuation assumptions used in financial analysis. This
analysis results in a materiality matrix for each of the 61 CSA industries, which serves as thebasis for determining the question and criteria weights in the CSA. The analysis considers themagnitude of impacts on financial performance from a company’s ESG risks, and how likely
these are to affect the company.2
The weights of criteria will differ across CSA industries, depending on how material the criteria
are for the industry, as determined by S&P Global ESG Research’s annual materiality analysis.
Some ESG indicators are used across all industries, whereas some are industry specific. Some
criteria may not be material to an industry and would therefore be assigned a zero weight in anindustry’s assessment.
14. How often is the Corporate Sustainability Assessment (CSA) methodology revised? Aninterdisciplinary team of S&P Global ESG Research analysts design, monitor, and refine the
CSA annually with the purpose of generating additional insights into the value-creating and riskmitigating potential of companies. The CSA methodology is reviewed in light of any emergent
themes or disclosure trends once the CSA results and DJSI members are announced in
September of a given year and then finalized by the time next year’s participants are invited toparticipate in March of the following year. S&P Global ESG Research engages with corporates,
investors, and third parties to support its own research on emerging sustainability trends (seeExhibit 3 in question 7).
15. What if a company does not respond to questions in the Corporate Sustainability
Assessment (CSA), or the CSA itself? To account for the differences in transparency incorporate sustainability reporting, a framework is used to deal with missing data for questions
where a low level of publicly available information is available. This framework is applied only tothe companies that are assessed by S&P Global ESG Research analysts.
When a company is analyzed by S&P Global ESG Research, the following scenarios are
possible.

2

Please see: https://portal.csa.spglobal.com/survey/documents/DJSI_CSA_Measuring_Intangibles.pdf.

FAQ

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S&P DJI ESG Scores

•

•

•

If no relevant information was found for a company on a mandatory question in thequestionnaire, a score of zero is assigned to that question, and the total score for thecompany is calculated, including this zero question score. This penalizes the company
for a lack of reporting sufficient data.
If no information is found on a non-mandatory question, the question is disregarded in
the total score calculation. The weight of the indicator is redistributed among the weights
of all other indicators within the criteria.
If a company participates in the CSA and does not respond to a question (mandatory or
non-mandatory), a score of zero is assigned to that question, and the total score for thecompany is calculated, including this zero question score. This penalizes the company
for not responding to this question despite having had the opportunity to.

16. What makes questions in the Corporate Sustainability Assessment (CSA) mandatory?
S&P Global ESG Research industry experts mark specific questions as mandatory based on
their fundamental importance to the ESG materiality matrix analysis. A response rate of 50% ormore triggers non-mandatory questions to become mandatory within the same methodology
year. Questions with answer rates of over 50% can also be made non-mandatory in specificcircumstances if the question is deemed unfair.
17. What measures are taken to ensure the data’s quality? It is the responsibility of S&P Global
ESG Research’s analysts to validate and substantiate company responses to questions.
Analysts assign a question score and note a rationale for their allocation, which is logged in
S&P Global’s database. A second analyst then reviews this and escalates any scoring that does
not reflect the evidence provided by the company. Cases can be escalated to the Head of ESG
Ratings for further review. Companies analyzed by S&P Global ESG Research using public
disclosures follow the same approach.
In addition, senior S&P Global ESG Research analysts and the Head of ESG Ratings identify
outliers and any other inconsistencies as part of the quality assurance process. S&P Global’sinternal database also has built-in flags to identify outliers in more detail.
Finally, S&P Global’s processes are audited annually by a third-party consultancy.
18. What industry classifications are used in the data? The S&P DJI ESG Scores are derived
using the 61 CSA industry-specific questionnaires. These industries are similar to industries in
the Global Industrial Classification System (GICS®) and are defined by S&P Global ESG
Research as industries sharing similar financial materiality exposures. Appendix A shows the
CSA industries and how they map to the GICS industries.
19. What are aspect levels? Aspect levels are the three levels of the S&P DJI ESG Scoresprovided: criteria, dimension, and total ESG scores.
20. How and why are the S&P DJI ESG Scores normalized? Some Corporate Sustainability
Assessment (CSA) questions are harder than others for companies to score well on, due to thedispersion of scores for a given question. That is, for some questions the grouping of scores isrelatively tight, while for other questions there is a wide range of scores between the leadersand laggards. The CSA methodology is reviewed annually to maintain a sufficient range in thedata, while also progressively driving forward each industry’s ESG performance benchmark,FAQ

7

S&P DJI ESG Scoresand score normalization is used at the question scoring level to account for the biases
mentioned.
The normalized figures measure the difference between a specific value and the industry mean,accounting for the standard deviation of values for the industry. For example, in the case ofquestion score grouping, normalization acts to widen the absolute scoring of a densely clustered
set of companies.
Total S&P DJI ESG Scores can still be biased, since some industries tend to have better total
scores than others. Therefore, the total S&P DJI ESG Scores are also normalized.
21. What is a Media and Stakeholder Analysis (MSA)? How are ESG controversies handled in
the data? Throughout the year, S&P Global ESG Research’s MSA monitors media andstakeholder coverage relating to companies in its assessed universe. The MSA is used as a setof checks and balances to ensure companies are upholding the levels of business standards
they are claiming to their stakeholders. Any instance that shows a company to be inconsistent
with its stated business practices, where the company is deemed sufficiently responsible, may
create an MSA case. The impact of MSA cases is defined as minor, medium, or major. MSA
cases are reviewed by S&P Global ESG Research, which will then incorporate any changes to acompany’s MSA rating and score.
Severe cases relating to current Dow Jones Sustainability Index (DJSI) components may beraised to the DJSI Committee. Index Committee decisions will be communicated to all market
participants at the same time and may result in immediate score adjustment and possible
company exclusion from an index. Otherwise, the impact of any constituent controversy may berealized in its subsequent annual Corporate Sustainability Assessment (CSA) or at the next
quarterly review.3
22. Why may a company’s ESG score change from one year to another? A company’s total
ESG score may be different from the year before due to:
•
•

•
•
•
•

Changes in company reporting disclosures or ESG performance in any number of ESG
scoring criteria;
Changes to the underlying scoring methodology (i.e., raising the bar or expectations forcorporate reporting, scoring on corporate performance rather than simply by disclosures,or a revision of thresholds and industry benchmarks);
Changed criteria weights with little to no change in company ESG performance ordisclosures;
New questions added to existing scoring criteria, or new criteria to the questionnaire;
Questions changing from non-mandatory to mandatory or vice versa; andCompanies responding to the Corporate Sustainability Assessment (CSA) directly for the
first time, with S&P Global ESG Research having analyzed them on their behalf prior, orcompanies no longer participating in the CSA.
Companies responding for the first time could cause a significant increase in the level of
relevant ESG information disclosed. Even if a company ceases to respond to the CSA
directly, if it publicly discloses the same level of relevant ESG information as provided

3

For more information on S&P Global’s approach, see https://portal.csa.spglobal.com/survey/documents/MSA_Methodology_Guidebook.pdf.

FAQ

8S&P DJI ESG Scores

directly in prior years, its ESG score may not change substantially when S&P Global
ESG Research analyzes the company using these sources.

Data Delivery & Licensing
23. How are the S&P DJI ESG Scores delivered to clients? The S&P DJI ESG Scores areavailable via S&P DJI’s SPICE® platform and via monthly Secured File Transfer Protocol (SFTP)
scheduled data feeds, delivered using S&P DJI’s Enterprise Data Xchange (EDX) platform.
24. If I subscribe via the Secured File Transfer Protocol (SFTP), how often will this data bedelivered to my account? The data is delivered via SFTP on a monthly basis so that any
changes in the S&P DJI ESG Scores due to Media and Stakeholder Analysis (MSA) actions,and subsequent score adjustments are provided to clients in a timely way.
25. What is SPICE and how can I access it? SPICE is S&P DJI’s web-based delivery platform forindex and constituent data. SPICE provides subscribers with access to timely andcomprehensive data, corporate action alerts, and developments that affect index composition
and weighting. Subscribers can customize and schedule reports to suit their investment criteria.
For more information on SPICE, please see https://www.spice-indices.com/idp/#/.
26. Can I get a free trial of the S&P DJI ESG Score data? Trial SPICE accounts are available tointerested parties. For further information, please contact your S&P DJI account representative
or visit spglobal.com/spdji/en/contact-us/.
27. Does my existing S&P Dow Jones Indices contract allow me access to the S&P DJI ESG
Scores? Access to the S&P DJI ESG Scores requires a separate data license. For further
information, please contact your S&P DJI account representative or visit
spglobal.com/spdji/en/contact-us/.
28. Will the underlying questionnaire responses be provided within the S&P DJI ESG Score
data package? Questionnaire responses (answers) are not provided in the data. The S&P DJIESG Scores data package provides the criteria, dimension, dimension weights, and total ESG
scores for a company for each data methodology year. Questionnaire responses are scored at
the question level by S&P Global ESG Research and aggregated to criteria-level scores—thelowest level of scores available.
29. For which indices are the data available? The S&P DJI ESG Scores are only available forthe following indices.
•
•
•
•
•
•
•
•
•
•
•
•

FAQ

S&P 500
S&P MidCap 400
S&P SmallCap 600
S&P Asia Pacific LargeMidCap
S&P/ASX 200
S&P/BMV Total Mexico
S&P/BVL Peru General
S&P Emerging LargeMidCap
S&P Europe LargeMidCap
S&P Global Broad Market Index (BMI)
S&P Global LargeMidCap
S&P North America LargeMidCap

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S&P DJI ESG Scores

APPENDIX A: GICS AND CSA INDUSTRY MAPPINGGICS Sub-Industry

GICS CodeCSA Industry

Auto Parts & Equipment

25101010

Tires & Rubber

25101020

Automobile Manufacturers

25102010

Motorcycle Manufacturers

25102020

Home Furnishings

25201020

Household Appliances

25201040

Housewares & Specialties

25201050

Homebuilding

25201030

HOM Homebuilding

Consumer Electronics

25201010

Leisure Products

25202010

LEG Leisure Equipment & Products and Consumer
Electronics

Footwear

25203020

Textiles25203030

Apparel, Accessories & Luxury Goods

25203010

Specialized Consumer Services

25302020

Education Services

25302010

Restaurants

25301040

Leisure Facilities

25301030

Hotels, Resorts & Cruise Lines

25301020

TRT Hotels, Resorts & Cruise Lines

Casinos & Gaming

25301010

CNO Casinos & Gaming

Advertising

50201010

Broadcasting

50201020

Publishing

50201040

Cable & Satellite

50201030

Movies & Entertainment

50202010

Distributors

25501010

Internet & Direct Marketing Retail25502020

Department Stores

25503010

General Merchandise Stores

25503020

Apparel Retail25504010

Specialty Stores

25504040

Automotive Retail25504050

Homefurnishing Retail25504060

Home Improvement Retail25504030

Computer & Electronics Retail25504020

ATX Auto Components

AUT Automobiles

DHP Household Durables

TEX Textiles, Apparel & Luxury Goods

CSV Diversified Consumer Services

REX Restaurants & Leisure Facilities

PUB Media, Movies & Entertainment

RTS Retailing

Source: S&P Global. Table is provided for illustrative purposes.

FAQ

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S&P DJI ESG Scores

GICS Sub-Industry

GICS CodeCSA Industry

Food Retail30101030

Hypermarkets & Super Centers30101040

Drug Retail30101010

Food Distributors

30101020

Brewers30201010

Soft Drinks

30201030

Distillers & Vintners

30201020

Agricultural Products

30202010

Packaged Foods & Meats

30202030

Tobacco30203010

TOB Tobacco

Household Products

30301010

HOU Household Products

Personal Products

30302010

COS Personal Products

Oil & Gas Equipment & Services

10101020

Oil & Gas Drilling

10101010

Integrated Oil & Gas

10102010

Oil & Gas Exploration & Production

10102020

Oil & Gas Refining & Marketing

10102030

OGR Oil & Gas Refining & Marketing

Oil & Gas Storage & Transportation

10102040

PIP Oil & Gas Storage & Transportation

Coal & Consumable Fuels

10102050

COL Coal & Consumable Fuels

Regional Banks

40101015

Diversified Banks

40101010

Thrifts & Mortgage Finance

40102010

Diversified Capital Markets

40203030

Investment Banking & Brokerage

40203020

Asset Management & Custody Banks

40203010

Mortgage REITs

40204010

Financial Exchanges & Data

40203040

Consumer Finance40202010

Specialized Finance40201040

Multi-Sector Holdings

40201030

Other Diversified Financial Services

40201020

Reinsurance

40301050

Multi-line Insurance

40301030

Property & Casualty Insurance

40301040

Insurance Brokers

40301010

Life & Health Insurance

40301020

FDR Food & Staples Retailing

BVG Beverages

FOA Food Products

OIE Energy Equipment & Services

OGX Oil & Gas Upstream & Integrated

BNK Banks

FBN Diversified Financial Services and Capital Markets

INS Insurance

Source: S&P Global. Table is provided for illustrative purposes.

FAQ

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S&P DJI ESG Scores

GICS Sub-Industry

GICS CodeCSA Industry

Diversified REITs

60101010

Industrial REITs

60101020

Hotel & Resort REITs

60101030

Office REITs

60101040

Health Care REITs

60101050

Residential REITs

60101060

Retail REITs

60101070

Specialized REITs

60101080

Diversified Real Estate Activities

60102010

Real Estate Operating Companies

60102020

Real Estate Development

60102030

Real Estate Services

60102040

Health Care Supplies

35101020

Health Care Equipment

35101010

Health Care Facilities

35102020

Health Care Distributors

35102010

Managed Health Care

35102030

Health Care Services

35102015

Health Care Technology

35103010

MTC Health Care Equipment & Supplies

Biotechnology

35201010

BTC Biotechnology

Life Sciences Tools & Services

35203010

LIF Life Sciences Tools & Services

Pharmaceuticals

35202010

DRG Pharmaceuticals

Aerospace & Defense

20101010

ARO Aerospace & Defense

Building Products

20102010

BLD Building Products

Construction & Engineering

20103010

CON Construction & Engineering

Heavy Electrical Equipment

20104020

IEQ Machinery and Electrical Equipment

Electrical Components & Equipment

20104010

ELQ Electrical Components & Equipment

Industrial Conglomerates

20105010

IDD Industrial Conglomerates

Industrial Machinery20106020

Construction Machinery & Heavy Trucks

20106010

Agricultural & Farm Machinery20106015

Trading Companies & Distributors

20107010

REA Real Estate

MTC Health Care Equipment & Supplies

HEA Health Care Providers & Services

IEQ Machinery and Electrical Equipment

TCD Trading Companies & Distributors

Source: S&P Global. Table is provided for illustrative purposes.

FAQ

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S&P DJI ESG Scores

GICS Sub-Industry

GICS Code

Office Services & Supplies

20201060

Diversified Support Services

20201070

Commercial Printing

20201010

Security & Alarm Services

20201080

Environmental & Facilities Services

20201050

Research & Consulting Services

20202020

Human Resource & Employment Services

20202010

Airlines

20302010

Air Freight & Logistics

20301010

Marine20303010

Railroads

20304010

Trucking

20304020

Airport Services

20305010

Highways & Railtracks

20305020

Marine Ports & Services

20305030

Semiconductors

45301020

Semiconductor Equipment

45301010

Data Processing & Outsourced Services

45102020

Internet Services & Infrastructure

45102030

IT Consulting & Other Services

45102010

Systems Software

45103020

Application Software

45103010

Interactive Media & Services

50203010

Interactive Home Entertainment

50202020

Communications Equipment

45201020

Electronic Components

45203015

Technology Distributors

45203030

Electronic Manufacturing Services

45203020

Electronic Equipment & Instruments

45203010

Technology Hardware, Storage & Peripherals

45202030

Commodity Chemicals

15101010

Specialty Chemicals

15101050

Fertilizers & Agricultural Chemicals

15101030

Industrial Gases

15101040

Diversified Chemicals

15101020

CSA Industry

ICS Commercial Services & Supplies

PRO Professional Services
AIR Airlines

TRA Transportation and Transportation Infrastructure

SEM Semiconductors & Semiconductor Equipment

TSV IT services

SOF Software

IMS Interactive Media, Services & Home Entertainment
CMT Communications Equipment

ITC Electronic Equipment, Instruments & Components

THQ Computers & Peripherals and Office Electronics

CHM Chemicals

Source: S&P Global. Table is provided for illustrative purposes.

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GICS Sub-Industry

GICS CodeCSA Industry

Construction Materials

15102010

COM Construction Materials

Paper Packaging

15103020

Metal & Glass Containers

15103010

Gold

15104030

MNX Metals & Mining

Steel

15104050

STL Steel

Aluminum

15104010

ALU Aluminum

Precious Metals & Minerals

15104040

Diversified Metals & Mining

15104020

Copper15104025

Silver15104045

Paper Products

15105020

Forest Products

15105010

Alternative Carriers

50101010

Integrated Telecommunication Services

50101020

Wireless Telecommunication Services

50102010

Gas Utilities

55102010

Electric Utilities

55101010

Independent Power Producers & Energy Traders55105010

Renewable Electricity

55105020

Multi-Utilities

55103010

Water Utilities

55104010

CTR Containers & Packaging

MNX Metals & Mining

FRP Paper & Forest Products

TLS Telecommunication Services

GAS Gas Utilities

ELC Electric Utilities

MUW Multi and Water Utilities
Source: S&P Global. Table is provided for illustrative purposes.

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S&P DJI ESG Scores

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