1、Rising investor focus to quantify corporate decarbonization combined with increased disclosure/data availability results in opportunities for evolving frameworks to measure corporate climate transition progress based on the 3 Ps Plan,Path and Performance.We update our Climate Transition Tool,which c

2、ontinues to be applied across more than 7,000 publicly-traded companies.What has changed:We update our tool to introduce:(1)new data sources to enhance assessment of targets in the Oil&Gas sector,sustainable and coal lending for the Financials sector,climate policy engagement for the Oil&Gas and Fin

3、ancials sectors,and Just Transition considerations for select sectors;and(2)methodology and metric updates to further improve the assessment and distribution across all companies.Links to performance:We see clear preference for greater ESG fund ownership of Climate Transition Transparency/Performanc

4、e leaders,with Top Quintile(Q1)companies+49%/+60%overweight in ESG funds vs.benchmark weighting,respectively.Bottom Quintile(Q5)companies are-41%/-37%underweight,respectively.We observe valuation signals for Climate Transition Performance,with sector relative EV/EBITDA premiums of 16%for Q1,more tha

5、n 5x the 3%premium for Q5 companies.Interestingly,this correlation does not hold for Transparency.Emma Jones+61(2)9320-1041| Goldman Sachs Australia Pty Ltd Xavier Zhang+852-2978-6681| Goldman Sachs(Asia)L.L.C.Brian Singer,CFA+1(212)902-8259| Goldman Sachs&Co.LLC Derek R.Bingham+1(415)249-7435| Gold

6、man Sachs&Co.LLC Evan Tylenda,CFA+44(20)7774-1153| Goldman Sachs InternationalBrendan Corbet t +1(415)249-7440| Goldman Sachs&Co.LLC Shubham Jain+1(332)245-7652| Goldman Sachs India SPLRachit Aggarwal+1(212)934-7689| Goldman Sachs India SPLGrace Chen+44(20)7774-5119|Goldman Sachs International Madel