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    Institutional Carbon Efficiency By Design

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    How Are Indices Fueling GPIF’s Green Objectives?

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Summary of Index Construction

  • Constituent Selection

    Constituent Selection

    Starting with a market-cap index as the universe, companies are screened for liquidity and to remove companies certified as “High Non-Disclosing Carbon Emitters.” Remaining companies are included in the index.

  • Weighting


    Constituent companies are weighted based on an approach that accounts for whether they sufficiently disclose their carbon emissions, their carbon-to-revenue footprint ranking relative to industry peers, and whether their industry is classified as high-, low-, or mid-impact.

  • Ongoing Maintenance

    Ongoing Maintenance

    The indices are rebalanced annually. Companies may be removed between rebalancings based on controversies monitoring.

Carbon-to-Revenue Footprint Assessment

Direct and First-Tier Indirect Greenhouse Gas Emissions

S&P Carbon Global Standard

Decile Classification

Decile thresholds are determined for each GICS® industry group based on the carbon-to-revenue footprints of companies in the S&P Global LargeMidCap, a global benchmark. Using these thresholds, every company is then classified, independently of its index membership, into its S&P Carbon Global Standard decile.

S&P Carbon Global Standard Decile Classification

Industry Group Classification

Each industry group is identified as high-, mid- or low-impact. This classification is based on the range of carbon-to-revenue footprints across the companies within that industry group in the S&P Global LargeMidCap. The range for each industry group is calculated as the spread between its first and last decile threshold.

Disclosure Status

Companies are divided into those that have been identified by Trucost as having sufficiently disclosed their carbon emissions and those that have not. Disclosure status is achieved when Trucost identifies companies as having full or partial disclosure in its largest carbon emissions category (between scope 1 and 2).

Carbon Weight Adjustments

Controversies Monitoring

About Trucost

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