Source(s): Authors, CDP, ISS, MSCI, Trucost, Bloomberg, Robeco. The indices representing the asset classes are: MSCI World Index (equity developed markets), MSCI Emerging Markets Index (equity emerging markets), Bloomberg Global Aggregate Corporate Index (corporate bonds investment grade), Bloomberg Global High Yield Corporate Index (corporate bonds high yield). The two carbon accounting metrics are intensity (emissions per unit of revenue) and footprint (emissions per unit of enterprise value including cash). Missing values are excluded from the calculation, not set to zero. The two columns (“Intens.” Refers to “Carbon intensity” and “Footp.” to “Carbon footprint”) under “Plain” contain the data without applying inheritance (as in Table 3), the two columns under “With inheritance” contain the data with applying inheritance (as in Table 4), and the two columns under “With sector median” contain the data with applying sector medians (as in Table 5). Scope 3 emissions are included. The index weights are from 31 August 2022. The greenhouse gas emissions data are from 2020