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Stocks of Indian companies which are committed to mitigating risks arising from climate change have fared better this year. The BSE Carbonex index has climbed 23.16% in comparison with an 18.91% jump in the benchmark Sensex so far this year.
In the three-year period till 6 September, the Carbonex has jumped 26.72% and the Sensex gained 17.15%, belying the belief that socially responsible investments find it tough to generate long-term performance.
The BSE Carbonex is a thematic index which measures companies’ ability to address climate change risk and opportunity. The index is based on the S&P BSE 100, with the constituent weights modified in accordance with the companies’ relative carbon performance as measured by the level of their greenhouse gas emissions and carbon policies.
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