MSCI IndexMetrics®
MSCI WORLD LOW CARBON TARGET INDEXMSCI EM LOW CARBON TARGET INDEX

September 2022
© 2022 MSCI Inc. All rights reserved.
Please refer to the disclaimer at the end of this document.

MSCI World Low Carbon Target Index

Key Metrics
Key Metrics
MSCI World Index

MSCI World Low Carbon Target Index - Current

MSCI World Low Carbon Target Index - Simulated

Total Return* (%)

0.6

-0.0

-0.7

Total Risk (%)

15.8

15.8

16.0

Return / Risk

0.04

-0.00

-0.04

Sharpe Ratio

0.02

-0.02

-0.06

Active Return (%)

0.0

-0.6

-1.3

Tracking Error (%)

0.0

0.4

0.8

-1.50

-1.68

Information Ratio
Historical Beta

1.00

1.01

1.02

Number of Constituents***

1552

1310

1045

Turnover** (%)

1.6

11.4

20.0

Price to Book***

3.1

3.1

3.1

Price to Earnings***

22.6

22.1

22.1

Dividend Yield*** (%)

1.8

1.8

1.8

Period: Dec 31, 2020 to Aug 31, 2022. * Gross returns annualized in USD ** Annualized one-way index turnover over index reviews *** Monthly averages

Performance (%)
MSCI World Index

MSCI World Low Carbon Target Index - Current

MSCI World Low Carbon Target Index - Simulated

YTD

-17.5

-18.1

-18.9

1 Yr

-14.7

-15.4

-16.4

3 Yr
5 Yr
10 Yr
Gross returns for the period ending Aug 31, 2022. Returns are annualized for periods longer than a year

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Key Metrics

MSCI IndexMetrics®

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Key Metrics

MSCI IndexMetrics®

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Active Sector Exposures

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

MSCI IndexMetrics®

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Active Sector Exposures

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

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Active Sector Exposures
MSCI World Low Carbon Target Index - Current (%)

MSCI World Low Carbon Target Index - Simulated (%)

Min

Max

Average

Current

Min

Max

Average

Current

Energy

-1.6

-0.6

-1.0

-0.9

Energy

-1.6

-0.6

-1.0

-1.3

Materials

-1.1

-0.5

-0.8

Industrials

0.3

0.7

0.5

-0.6

Materials

-1.1

-0.5

-0.7

-0.5

0.3

Industrials

-0.8

0.7

0.5

Cons. Disc.

-0.4

0.2

-0.8

-0.1

0.2

Cons. Disc.

-0.4

0.2

-0.1

-0.2

Cons. Stap.

0.4

Health Care

-0.0

0.7

0.5

0.4

Cons. Stap.

0.1

0.7

0.5

0.1

0.2

0.1

0.1

Health Care

-0.0

0.2

0.1

Financials

0.1

0.6

1.1

0.8

0.6

Financials

0.6

1.7

0.9

1.7

IT

-0.1

0.3

0.0

-0.1

IT

-0.1

0.4

0.0

0.4

Comm. Serv.

0.1

0.4

0.2

0.2

Comm. Serv.

0.1

0.8

0.3

0.8

Utilities

-0.6

-0.3

-0.5

-0.5

Utilities

-0.6

-0.3

-0.5

-0.5

Real Estate

0.0

0.2

0.1

0.1

Real Estate

0.0

0.2

0.1

0.2

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

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Active Country Exposures Geo Map

As of Aug 31, 2022.

MSCI IndexMetrics®

9

Active Country Exposures Geo Map

As of Aug 31, 2022.

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ESG Metrics
Integration, Values and Norms
MSCI World Index

MSCI World Low Carbon Target Index - Current

MSCI World Low Carbon Target Index - Simulated

Integration
ESG Score

6.8

6.8

6.8

ESG Leaders (AAA-AA) (%)

38.7

39.8

39.1

ESG Laggards (B-CCC) (%)

1.9

1.8

1.8

ESG Trend Positive (%)

36.3

36.4

36.4

ESG Trend Negative (%)

2.7

2.5

2.7

Index ESG Rating

AAA

AAA

AAA

Environmental Pillar Score

6.1

6.3

6.3

Social Pillar Score

5.2

5.2

5.2

Governance Pillar Score

5.7

5.7

5.7

Board Independence (wtd Avg %)

80.0

79.8

79.4

Female Directors (wtd Avg %)

33.5

33.5

33.3

Deviation from One Share One Vote (%)

20.9

21.0

21.6

Tobacco Involvement (%)

1.0

1.1

1.5

Civilian Firearms Producers (%)

0.1

0.1

0.1

Ties to Controversial Weapons (%)

0.6

0.7

0.0

Global Compact Compliance Violation (%)

0.4

0.0

0.0

Red Flag Controversies (%)

0.5

0.0

0.0

Orange Flag Controversies (%)

34.3

33.8

32.4

Key Governance Metrics

Values and Norms

As of August 31, 2022.

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ESG Metrics
Climate Change
MSCI World
Index

MSCI World Low Carbon Target Index - Current

MSCI World Low Carbon Target Index - Simulated

354

256

135

Climate Footprint
Carbon Intensity – Scope 1 + 2 + 3 (Wtd Avg t CO2e/$M EVIC)
Carbon Intensity – Scope 1 + 2 (Wtd Avg t CO2e/$M EVIC)

45

18

17

Carbon Emissions to Sales – Scope 1 + 2 + 3 (Wtd Avg t CO2e/$M Sales)

1042

860

689

Carbon Emissions to Sales – Scope 1 + 2 (Wtd Avg t CO2e/$M Sales)

151

75

86

Low Carbon Transition Score

6.1

6.2

6.3

Solutions (%)

8.7

9.1

9.9

Product & Operational Transition (%)

15.2

11.9

9.0

Asset Stranding (%)

0.5

0.3

1.0

Potential Carbon Emissions (t CO2e/$M Invested)

1339

335

178

Fossil Fuel Reserves (%)

6.5

4.2

2.8

Thermal Coal Mining (%)

0.8

0.5

0.0

Thermal Coal-Based Power Generation (%)

2.8

1.1

1.3

Unconventional Oil & Gas Extraction (%)

4.2

2.5

2.0

Clean Technologies Solutions (> 20% Revenue)

9.8

10.1

10.5

Clean Technologies Solutions Revenue (wtd Avg %)

5.5

5.7

5.9

Green/fossil Fuel-Based Net Revenue Exposure

2.1

3.6

4.7

Exposure to Carbon-Related Assets (%)

8.2

6.5

5.9

Climate-Related Controversies (%, Score ≤ 4)

0.8

0.4

0.0

Low Carbon Transition Management Score (% Top Quartile)

72.1

74.0

72.5

Low Carbon Transition Risks

Exposure to Asset Stranding Risks

Exposure to Clean Technology Solutions

Other Climate Metrics

As of August 31, 2022.

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GEMLT Active Perf. Attribution

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Styles

Period: Dec 31, 2020 to Aug 31, 2022.

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GEMLT Active Perf. Attribution: Styles

Period: Dec 31, 2020 to Aug 31, 2022.

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GEMLT Active Perf. Attribution: Industries

Period: Dec 31, 2020 to Aug 31, 2022.

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GEMLT Active Perf. Attribution: Industries

Period: Dec 31, 2020 to Aug 31, 2022.

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GEMLT Active Perf. Attribution: Countries

Period: Dec 31, 2020 to Aug 31, 2022.

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GEMLT Active Perf. Attribution: Countries

Period: Dec 31, 2020 to Aug 31, 2022.

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MSCI EM Low Carbon Target Index

Key Metrics
Key Metrics
MSCI EM (Emerging Markets) Index

MSCI EM Low Carbon Target Index - Current

MSCI EM Low Carbon Target Index - Simulated

-11.9

-12.2

-12.5

Total Return* (%)
Total Risk (%)

10.8

10.7

10.7

Return / Risk

-1.11

-1.14

-1.17

Sharpe Ratio

-1.13

-1.17

-1.20

Active Return (%)

0.0

-0.3

-0.6

Tracking Error (%)

0.0

0.5

0.6

-0.55

-1.06

Information Ratio
Historical Beta

1.00

0.99

0.99

Number of Constituents***

1402

1169

1019

Turnover** (%)

4.8

12.7

16.9

Price to Book***

1.9

1.9

1.9

Price to Earnings***

15.5

15.3

15.3

Dividend Yield*** (%)

2.3

2.3

2.3

Period: Dec 31, 2020 to Aug 31, 2022. * Gross returns annualized in USD ** Annualized one-way index turnover over index reviews *** Monthly averages

Performance (%)
MSCI EM (Emerging Markets) Index

MSCI EM Low Carbon Target Index - Current

MSCI EM Low Carbon Target Index - Simulated

YTD

-17.2

-17.0

-17.5

1 Yr

-21.5

-21.4

-22.1

3 Yr
5 Yr
10 Yr
Gross returns for the period ending Aug 31, 2022. Returns are annualized for periods longer than a year

MSCI IndexMetrics®

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Key Metrics

MSCI IndexMetrics®

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Key Metrics

MSCI IndexMetrics®

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Active Sector Exposures

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

MSCI IndexMetrics®

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Active Sector Exposures

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

MSCI IndexMetrics®

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Active Sector Exposures
MSCI EM Low Carbon Target Index - Current (%)

MSCI EM Low Carbon Target Index - Simulated (%)

Min

Max

Average

Current

Min

Max

Average

Current

Energy

-2.0

-0.4

-1.3

-1.2

Energy

-2.5

-1.1

-2.0

-2.1

Materials

-1.7

-0.6

-1.0

Industrials

0.3

0.5

0.4

-1.2

Materials

-1.0

0.1

-0.4

-0.0

0.3

Industrials

0.1

0.6

0.5

Cons. Disc.

-0.2

0.1

0.1

-0.1

0.1

Cons. Disc.

-1.1

-0.6

-0.9

-1.0

Cons. Stap.

0.3

Health Care

-0.0

0.6

0.4

0.4

Cons. Stap.

0.1

0.5

0.3

0.1

0.1

0.1

0.0

Health Care

-0.1

0.2

0.1

Financials

0.2

1.0

1.7

1.3

1.6

Financials

1.6

2.3

2.0

1.9

IT

-0.1

0.2

0.1

0.0

IT

-0.3

-0.0

-0.2

-0.1

Comm. Serv.

0.3

0.7

0.4

0.4

Comm. Serv.

0.5

1.0

0.8

0.8

Utilities

-0.8

-0.4

-0.6

-0.7

Utilities

-0.7

-0.2

-0.5

-0.4

Real Estate

0.2

0.3

0.3

0.3

Real Estate

0.3

0.6

0.4

0.5

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

Period: Dec 31, 2020 to Aug 31, 2022, monthly data.

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Active Country Exposures Geo Map

As of Aug 31, 2022.

MSCI IndexMetrics®

28

Active Country Exposures Geo Map

As of Aug 31, 2022.

MSCI IndexMetrics®

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ESG Metrics
Integration, Values and Norms
MSCI EM (Emerging Markets) Index

MSCI EM Low Carbon Target Index - Current

MSCI EM Low Carbon Target Index - Simulated

Integration
ESG Score

5.3

5.3

5.4

ESG Leaders (AAA-AA) (%)

19.1

19.9

20.1

ESG Laggards (B-CCC) (%)

15.6

15.4

14.3

ESG Trend Positive (%)

29.2

28.8

29.6

ESG Trend Negative (%)

9.2

9.1

9.4

Index ESG Rating

BBB

BBB

A

Environmental Pillar Score

5.1

5.2

5.2

Social Pillar Score

5.0

5.1

5.1

Governance Pillar Score

4.3

4.4

4.4

Board Independence (wtd Avg %)

61.1

61.3

61.1

Female Directors (wtd Avg %)

14.9

14.8

15.0

Deviation from One Share One Vote (%)

42.7

42.7

41.7

Tobacco Involvement (%)

0.4

0.5

0.6

Civilian Firearms Producers (%)

0.0

0.0

0.0

Ties to Controversial Weapons (%)

0.4

0.5

0.0

Global Compact Compliance Violation (%)

0.9

1.0

0.0

Red Flag Controversies (%)

0.9

1.0

0.0

Orange Flag Controversies (%)

12.2

11.4

10.2

Key Governance Metrics

Values and Norms

As of August 31, 2022.

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ESG Metrics
Climate Change
MSCI EM (Emerging Markets) Index

MSCI EM Low Carbon Target Index - Current

MSCI EM Low Carbon Target Index - Simulated

Carbon Intensity – Scope 1 + 2 + 3 (Wtd Avg t CO2e/$M EVIC)

628

433

243

Carbon Intensity – Scope 1 + 2 (Wtd Avg t CO2e/$M EVIC)

127

45

51

Carbon Emissions to Sales – Scope 1 + 2 + 3 (Wtd Avg t CO2e/$M Sales)

1550

1147

895

Carbon Emissions to Sales – Scope 1 + 2 (Wtd Avg t CO2e/$M Sales)

368

184

179

5.9

6.1

6.2

Climate Footprint

Low Carbon Transition Risks
Low Carbon Transition Score
Solutions (%)

4.1

4.3

4.3

Product & Operational Transition (%)

20.3

17.2

16.8

Asset Stranding (%)

1.6

0.5

0.0

Potential Carbon Emissions (t CO2e/$M Invested)

4850

389

120

Fossil Fuel Reserves (%)

6.6

3.7

2.7

Thermal Coal Mining (%)

2.7

1.6

0.6

Thermal Coal-Based Power Generation (%)

2.7

0.8

1.5

Unconventional Oil & Gas Extraction (%)

2.2

1.6

1.7

Clean Technologies Solutions (> 20% Revenue)

5.4

5.4

5.6

Clean Technologies Solutions Revenue (wtd Avg %)

4.7

4.7

4.8

Green/fossil Fuel-Based Net Revenue Exposure

2.6

11.4

12.1

Exposure to Carbon-Related Assets (%)

7.3

5.7

4.8

Climate-Related Controversies (%, Score ≤ 4)

0.0

0.0

0.0

Low Carbon Transition Management Score (% Top Quartile)

27.5

28.1

27.6

Exposure to Asset Stranding Risks

Exposure to Clean Technology Solutions

Other Climate Metrics

As of August 31, 2022.

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GEMLT Active Perf. Attribution

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Styles

Period: Dec 31, 2020 to Aug 31, 2022.

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Styles

Period: Dec 31, 2020 to Aug 31, 2022.

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Industries

Period: Dec 31, 2020 to Aug 31, 2022.

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Industries

Period: Dec 31, 2020 to Aug 31, 2022.

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Countries

Period: Dec 31, 2020 to Aug 31, 2022.

MSCI IndexMetrics®

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GEMLT Active Perf. Attribution: Countries

Period: Dec 31, 2020 to Aug 31, 2022.

MSCI IndexMetrics®

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Appendix

Appendix
Risk and Return Metrics
Definition

Definition
Skewness

Skewness of index returns (based on monthly data), measures thedegree of asymmetry of the return distribution.

Kurtosis

Kurtosis of index returns (based on monthly data), measures thedegree of peakedness of the return distribution.

Maximum Active Returns Drawdown (%)

Maximum active return drawdown (based on daily data)

Maximum Active Returns Drawdown Period (months)

Maximum active return drawdown period (based on daily data)

Active Risk Contribution (%)

Asset active weight multiplied by its marginal contribution to active
risk and divided by the total index active risk

Cross-Sectional Volatility Contributions (%)

Contributions to cross-sectional volatility (based on monthly data, 12month moving average)

Thematic Exposure (%)

Weighted average of exposures to thematic relevance scores.
Thematic relevance scores are expressed as a percentage to gauge acompany’s economic linkage to a given theme.

Up/down Markets - Average Monthly Return (%)

Average return for the index when benchmark return ispositive/negative (based on monthly data)

Up/down Markets - Average Monthly Active Return (%)

Average active return for the index when benchmark return ispositive/negative (based on monthly data)

Up/down Markets - Beta

Historical beta computed for the index and benchmark returns whenbenchmark return is positive/negative (based on monthly data)

Up/down Markets - Correlation

Correlation between the index and benchmark returns whenbenchmark return is positive/negative (based on monthly data)

5th percentile of historical index returns (based on monthly data)

Up/down Markets - Capture Ratio (%)

Ratio of average index and benchmark returns when benchmark returnis positive/negative (based on monthly data)

VaR @ 99% (%)

1st percentile of historical index returns (based on monthly data)

Up/down Markets - Beta Timing

Ratio of up and down market betas (based on monthly data)

Expected Shortfall (CVaR) @ 95% (%)

Average of returns below Var @ 95% (based on monthly data)

Expected Shortfall (CVaR) @ 99% (%)

Average of returns below Var @ 99% (based on monthly data)

Maximum Drawdown (%)

Maximum index drawdown (based on daily data)

Maximum Drawdown Period (months)

Maximum index drawdown period (based on daily data)

Total Return (%)

Annualized index return

Total Risk (%)

Annualized index risk (based on monthly returns)

Return / Risk

Ratio of annualized return and annualized risk

Sharpe Ratio

The Sharpe ratio is computed as the ratio of index excess returns and annualized total
risk where excess return is defined as the difference between the annualized total index
return and the risk free rate corresponding to the currency of analysis

Active Return (%)

Difference of the annualized index return and the annualized benchmark return

Tracking Error (%)

Annualized standard deviation of active returns (based on monthly data)

Information Ratio

Ratio of index active return and tracking error (based on monthly data)

Historical Beta

Beta is a measure of the level of co-movement between an index and its benchmark. It is
calculated as the correlation between index and benchmark returns multiplied by theratio of total risk of the index and its benchmark (based on monthly data)

Average Number of Constituents

Average number of constituents (based on monthly data)

Turnover (%)

Annualized Average one-way index turnover over rebalancing dates

Price to Book

Price to book harmonic average (based on monthly data)

Price to Earnings

Price to earnings harmonic average (based on monthly data)

Dividend Yield (%)

Dividend yield (%) average (based on monthly data)

Downside Deviation (%)

Annualized lower semi-deviation of index total returns (based on monthly data)

Sortino Ratio

Ratio of the Average excess return (above a specified Acceptable Return, MAR, assumed
to be 0%) and downside deviation

VaR @ 95% (%)

MSCI IndexMetrics®

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Appendix
ESG: Integration, Values and Norms
Definition

Definition

ESG Score

Weighted average ESG Score. The ESG Score indicates how well the index companies
manage their most material ESG risks relative to sector peers. Scores range from 10 (best) to
0 (worst).

Deviation from One Share One Vote (%)

Exposure to companies flagged for any of multiple equity classes with differential
voting rights, golden shares or limitations on voting rights.

ESG Leaders (AAA-AA) (%)

Exposure to companies with an ESG rating of AAA or AA (best in class relative to peers).

Tobacco Involvement (%)

Exposure to companies flagged for involvement in tobacco. Specifically, tobacco
producers and companies that derive 5% or more aggregate revenue from the
manufacture, distribution, retailing, licensing, and supply of tobacco products, as
defined by the methodology of the MSCI Global ex Tobacco Involvement Indexes.

ESG Laggards (B-CCC) (%)

Exposure to companies with an ESG rating of B or CCC (worst in class relative to peers).

ESG Trend Positive (%)

Exposure to companies with a rating upgrade in the year prior to the most recent ESG rating.

ESG Trend Negative (%)

Exposure to companies with a rating downgrade in the year prior to the most recent ESG
rating.

Civilian Firearms Producers (%)

Exposure to civilian firearms producers.

Index ESG Rating

The letter rating equivalent of the calculation below: ESG Score * (1 + ESG Trend Positive ESG Trend Negative - ESG Laggards)

Ties to Controversial Weapons (%)

The Environmental Pillar Score indicates how well the index companies manage their mostmaterial environment risks. Scores range from 10 (best) to 0 (worst).

Exposure to companies with ties to controversial weapons . MSCI ESG Research's
Controversial Weapons definition covers cluster munitions, landmines, depleted
uranium weapons, biological/chemical weapons, blinding lasers, non-detectable
fragments and incendiary weapons, as defined by the methodology of the MSCI
Global Ex-Controversial Weapons Indexes.

Environmental Pillar Score

Global Compact Compliance Violation (%)

Exposure to companies in violation of the UN Global Compact principles.

Social Pillar Score

The Social Pillar Score indicates how well the index companies manage their most materialsocial risks. Scores range from 10 (best) to 0 (worst).

Red Flag Controversies (%)

Governance Pillar Score

The Governance Pillar Score indicates how well the index companies manage their mostmaterial governance risks. Scores range from 10 (best) to 0 (worst).

Exposure to companies with environment-, governance-, customer-, human rights-, orlabor rights-related controversies that are assessed as "Very Severe".

Orange Flag Controversies (%)

Board Independence (wtd Avg %)Weighted average % of independent board members

Exposure to companies with ongoing environment-, governance-, customer-, humanrights-, or labor rights-related controversies that are assessed as "Severe" andindicate structural problems at the company.

Female Directors (wtd Avg %)Weighted average % of female board members.

MSCI IndexMetrics®

42

Appendix
ESG: Climate Change
Definition
Carbon Intensity (Wtd Avg t CO2e/$M EVIC)

Definition

Carbon emissions normalized by Enterprise Value Including Cash (EVIC) for
the index.

Carbon Emissions to Sales (Wtd Avg t CO2e/$M
Sales)

Efficiency of the index in terms of carbon emissions divided by total sales.

Low Carbon Transition Score

Weighted average low Carbon Transition (LCT) score measuring
companies' level of alignment to the LCT. Companies with higher LCT scoreare more aligned with the LCT compared to the companies with lower
scores. Scores range from 0 to 10.

Solutions (%)

Exposure to companies involved in low/zero carbon solutions that would
have negative total carbon intensity and are likely to benefit in a low carbon
scenario.

Product & Operational Transition (%)

Exposure to companies with moderately to highly carbon intensive products
or operations. Such companies' products or operations could go undertransition in a low carbon scenario.

Asset Stranding (%)

Exposure to companies with very high risk exposure to transition risk andmay face asset stranding risk in the short to medium term.

Potential Carbon Emissions (t CO2e/$M Invested)

Carbon potential emissions normalized for the index.

Fossil Fuel Reserves (%)

Exposure to companies that own proved & probable coal and/or oil andnatural gas reserves used for energy purposes. The definition is based on
the MSCI Global Ex-Fossil Fuel Indexes Methodology.

Thermal Coal Mining (%)

Exposure to companies that derive some of their revenue from thermal coalmining.

Thermal Coal-Based Power Generation (%)

Exposure to companies that derive some of their revenue from thermal
coal-based power generation.

Unconventional Oil & Gas Extraction (%)

Exposure to companies that derive revenues from unconventional oil andgas including oil sands, oil shale , shale gas, shale oil, coal seam gas, andcoal bed methane. It excludes all types of conventional oil and gas
production.

Clean Technologies Solutions (> 20% Revenue)

Exposure to companies that derive 20% or more revenue from anyof the five clean tech themes: alternative energy, energy
efficiency, green building, pollution prevention, or sustainable
water.

Clean Technologies Solutions Revenue (wtd Avg %)Weighted average % revenue derived from any of the five clean
tech themes including alternative energy, energy efficiency, green
building, pollution prevention, or sustainable water.

Green/fossil Fuel-Based Net Revenue Exposure

The ratio of the weighted average clean technologies solutions
revenue (%) or "Green Revenue" to the weighted average fossil
fuel revenue (%) defined as the weighted average % revenue
derived from any of the fossil fuel-related activities including
thermal coal mining, oil and gas extraction, thermal coal-based
power generation, and oil and gas-based power generation.

Exposure to Carbon-Related Assets (%)

Exposure to companies that belong to the following GICS
industries: Energy Equipment & Services (101010), Oil, Gas &Consumable Fuels (101020), Electric Utilities (551010), Gas
Utilities (551020), Multi-Utilities (551030).

Climate-Related Controversies (%, Score ≤ 4)

Exposure to companies with climate change and energy-related
controversies that are flagged as Red, Orange and Yellow,
covering scores 0 to 4. Factors affecting this evaluation include ahistory of involvement in GHG-related legal cases, widespread or
egregious impacts due to corporate GHG emissions, resistance toimproved practices, and criticism by NGOs and/or other thirdparty observers.

Low Carbon Transition Management Score (% Top Quartile)

Exposure to companies that belong to the top quartile in terms of
their Low Carbon Transition Management Score relative tocompanies in the relevant GICS Sub-Industry that are constituentsof the MSCI ACWI IMI.

MSCI IndexMetrics®

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