"Genus Capital Management today released ’The Carbon Emissions Report: The Effect of Carbon Emissions on Investment Returns,’ which concluded that an investment portfolio’s carbon intensity negatively impacted returns by 9.2 per cent over the past seven years, after adjusting for other variables and risk factors…

High intensity emitters tend to be penalized by the market because their businesses are neither efficient nor forward facing. Divesting from fossil fuels is one way to minimize the carbon intensity of a portfolio. By conducting this research, we’re pleased to see that the results support the case for divestment and sustainable investing."

[COMMENTARY] I’ve seen several studies of this nature. As ESG criteria are implemented by money managers, this type of outcome is to be increasingly expected.
Canadian companies among the most carbon intensive in the developed world, press release, June 28, 2017, Genus Fossil Free funds, Canada.