Integrum ESG

What are the CTB and PAB exclusions?

1/15/2025 ~ 10:18:24 AM

The Carbon Transitional Benchmark (CTB) and Paris Aligned Benchmark (PAB) exclusions are lists of excluded corporate activities.

The CTB exclusions can be summarised as controversial weapons, tobacco, and violations of UNGC and OECD principles.

The PAB exclusions are more extensive.

Managers are also expected to disclose in their benchmark methodology any additional exclusion criteria they use which are based on climate-related or other environmental, social and governance (ESG) factors.

See the full breakdown below:

CTB Exclusions

PAB Exclusions

Companies involved in any activities related to controversial weapons

Companies involved in the cultivation and production of tobacco

Companies that benchmark administrators find in violation of the UNGC and OECD principles

Companies that significantly harm one or more of the environmental objectives referred to in Article 9 of the 'EU taxonomy for sustainable activities' regulation

Companies that derive 1 % or more of their revenues from exploration, mining, extraction, distribution or refining of hard coal and lignite

Companies that derive 10 % or more of their revenues from the exploration, extraction, distribution or refining of oil fuels

Companies that derive 50 % or more of their revenues from the exploration, extraction, manufacturing or distribution of gaseous fuels

Companies that derive 50 % or more of their revenues from electricity generation with a GHG intensity of more than 100 g CO2 e/kWh

Companies that significantly harm one or more of the environmental objectives referred to in Article 9 of the 'EU taxonomy for sustainable activities' regulation

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