As many readers will know, I have long been saying that companies with lower greenhouse gas emissions intensity outperform companies with higher emissions intensity. I rested my view on studies I have written about before (e.g. here) that show that there is a systematic outperformance of ‘green stocks’ vs. ‘brown stocks’. This is one of these posts where I have to put ashes on my head because it may well be that this research fell prey to an unintended forward-looking bias.
Acknowledging previous mistakes let alone apologising is rare and much appreciated.👍
Well done for publicly correcting the error.
Always good to look at the original data.