Transition Finance Tracker
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Physical risk and the 2026 World Cup: 5 highlights from our latest Transition Finance Tracker
A hypothetical bond portfolio tracking an index designed to decarbonize in line with the goals of the Paris Agreement can finance an estimated USD 2.57 of low-carbon energy supply for every dollar of fossil-fuel energy supply, while one that tracks an emerging-market bond index finances USD 0.03 for every dollar.
Source: MSCI Sustainability & Climate Research, data as of Dec. 31, 2025. Low-carbon revenue refers to revenue from activities in the low-carbon energy sector, including generation, storage, transmission, and distribution infrastructure. Fossil-fuel revenue refers to revenue from activities in the exploration, extraction, production, transportation, distribution, refining or retailing of oil, gas and coal. For complete definitions, see “Financial Institutions Net-Zero Standard. Version 1.0,” SBTi, July 2025, esp. p.30 and Table 2 therein.