Exchange-traded fund
iShares MSCI Emerging Markets ETF
Fund manager
BlackRock/iShares
Ticker EEM
Fossil fuel grade: Fossil fuel exposure of 9.81% places the fund in the range of between 9% and 100% exposure. Assigned a grade of F.Fossil fuel exposure of 9.81% places the fund in the range of between 9% and 100% exposure. Assigned a grade of F.How we track fossil fuel investments
F
Investments in major fossil fuel companies
Gazprom PJSC
Carbon Underground 200Top 200 carbon reserves
$199.86 MILLION
Vale SA
Carbon Underground 200Top 200 carbon reserves
$183.03 MILLION
PJSC Lukoil
Carbon Underground 200Top 200 carbon reserves
$137.72 MILLION
Petroleo Brasileiro SA Petrobras Participating Preferred
Carbon Underground 200Top 200 carbon reserves
$92.76 MILLION
NOVATEK PJSC DR
Carbon Underground 200Top 200 carbon reserves
$75.34 MILLION
Petroleo Brasileiro SA Petrobras
Carbon Underground 200Top 200 carbon reserves
$75.07 MILLION
Fossil fuel holdings
Producers energy sector
Top 200 owners of carbon reserves
Top 200 owners of carbon reserves
Carbon Underground 200
34
holdings
$1.29B
invested
4.45%
of portfolio
Coal industry
Coal industry
Coal miners, coal services, owners of coal reserves
44
holdings
$846.15M
invested
2.92%
of portfolio
Oil/gas industry
Oil/gas industry
Oil/gas producers and refiners, oil field services and equipment companies, pipeline operators
61
holdings
$1.76B
invested
6.07%
of portfolio
Consumers utility sector
Top 30 coal-fired utilities
Top 30 coal-fired utilities
Macroclimate 30
7
holdings
$79.63M
invested
0.27%
of portfolio
Fossil-fired utilities
Fossil-fired utilities
Utilities burning fossil fuels or distributing gas
65
holdings
$969.63M
invested
3.34%
of portfolio
  When calculating a portfolio's screen exposure, we only consider long investments, ignoring any shorts or liabilities.
All fossil fuel companies
124 holdings
124 holdings
  • 1. Reliance Industries Ltd
    Oil/gas industry
    $346.12M
    1.19%
  • 2. Gazprom PJSC
    Carbon Underground 200Oil/gas industry
    $199.86M
    0.69%
  • 3. Vale SA
    Carbon Underground 200Coal industry
    $183.03M
    0.63%
  • 4. PJSC Lukoil
    Carbon Underground 200Oil/gas industry
    $137.72M
    0.47%
  • 5. Petroleo Brasileiro SA Petrobras Participating Preferred
    Carbon Underground 200Oil/gas industry
    $92.76M
    0.32%
See all
Share to spread the word.
Business as usual is fueling climate destruction.
iShares MSCI Emerging Markets ETF $EEM is 9.81% invested in fossil fuel stocks, with $2.85 BILLION invested across 124 equity holdings
Tweet 
Financial performance
Performance data provided byMorningstarFind more financial data on EEM at Morningstar.com
Current fund
EEM
iShares MSCI Emerging Markets ETF
Family
BlackRock/iShares
Category
Diversified Emerging Mkts
vs.
Benchmark
ACWX
iShares MSCI ACWI ex U.S. ETF
Family
iShares from BlackRock
Category
Foreign Large Blend
Fund comparison settings
Investment timeline
Performance as of: 11/30/21
1 year
3 years
5 years
10 years
Benchmark
Suggested: MSCI ACWI Ex USA
ACWX - iShares MSCI ACWI ex U.S. ETF
Fund comparison results
Compared to the benchmark, this fund has:
Lower
 10-yr returns 
-2.08% less in annualized returns
More invested in fossil fuels 
0.33% more invested
Higher carbon footprint 
112 tonnes CO2e/$1M USD higher
Less invested in Clean200 
4.59% less invested
Current fund
EEM
iShares MSCI Emerging Markets ETF
Family
BlackRock/iShares
Category
Diversified Emerging Mkts
vs.
Benchmark
ACWX
iShares MSCI ACWI ex U.S. ETF
Family
iShares from BlackRock
Category
Foreign Large Blend
Fund comparison settings
Investment timeline
Performance as of: 11/30/21
1 year
3 years
5 years
10 years
Benchmark
Suggested: MSCI ACWI Ex USA
ACWX - iShares MSCI ACWI ex U.S. ETF
Fund comparison results
Compared to the benchmark, this fund has:
Lower
 10-yr returns 
-2.08% less in annualized returns
More invested in fossil fuels 
0.33% more invested
Higher carbon footprint 
112 tonnes CO2e/$1M USD higher
Less invested in Clean200 
4.59% less invested
Current fund
EEM
iShares MSCI Emerging Markets ETF
Family
BlackRock/iShares
Category
Diversified Emerging Mkts
vs.
Benchmark
ACWX
iShares MSCI ACWI ex U.S. ETF
Family
iShares from BlackRock
Category
Foreign Large Blend
Fund comparison settings
Investment timeline
Performance as of: 11/30/21
1 year
3 years
5 years
10 years
Benchmark
Suggested: MSCI ACWI Ex USA
ACWX - iShares MSCI ACWI ex U.S. ETF
Fund comparison results
Compared to the benchmark, this fund has:
Lower
 10-yr returns 
-2.08% less in annualized returns
More invested in fossil fuels 
0.33% more invested
Higher carbon footprint 
112 tonnes CO2e/$1M USD higher
Less invested in Clean200 
4.59% less invested
Month-end trailing returns  
Annualized returns
Climate analysis
1-yr
3-yr
5-yr
10-yr
Fossil fuel %
This fund
EEM - iShares MSCI Emerging Markets ETF
1.41%
8.37%
8.74%
4.47%
9.81% 
Benchmark
ACWX - iShares MSCI ACWI ex U.S. ETF
9%
9.75%
9.16%
6.55%
9.48% 
Fund compared to benchmark
 
-7.59%
-1.39%
-0.42%
-2.08%
0.33%  higher
Find more financial data on EEM at Morningstar.com
What's next?
Learn how to make a change and move your money
Get started with our action toolkit
Ask your employer about fossil free options for your retirement plan
Find sustainable funds that are A-grade fossil free
Divest Invest invites you to join them in pledging to invest fossil free
Visit Deforestation Free Funds to see exposure to rainforest destruction
More from Invest Your Values
See how mutual funds and ETFs are rated on issues ranging from fossil fuels, to deforestation, gender equality, guns, prisons, weapons, and tobacco:


We offer sustainable investment tools that highlight issues dealing with climate change, gender equality and more

About us

Invest Your Values is funded by contributions to As You Sow, a non-profit 501(c)3.

Donate

Invest Your Values is a project by As You Sow, a 501(c)3 nonprofit empowering shareholders to change corporations for good

Visit As You Sow

Legal    
© Copyright 2021 As You Sow. All rights reserved.
2020 Milvia St, Suite #500, Berkeley, CA 94704

Connect with As You Sow

Contact us      

Disclaimer: As You Sow is not an investment adviser

As You Sow is not an investment adviser as that term is defined under federal and state (California) laws and regulations. As You Sow is a tax-exempt, nonprofit organization dedicated to educating and empowering shareholders to change corporations for the good through the collection, analysis and dissemination of relevant information to the public, free of charge. As You Sow does not provide financial planning, legal or tax advice. Nothing on this website shall constitute or be construed as an offering of financial instruments, or as investment advice or investment recommendations.
See our full disclaimer