Exchange-traded fund
iShares MSCI Emerging Markets ETF
TickerEEM
Fund manager
BlackRock/iShares

Fossil fuel companiesare fueling the climate crisis.

Fossil fuel exposure of 11.42% places the fund in the F tier, between 9% and 100% exposure.

Methodology
F
Investments in major fossil fuel companies
Reliance Industries Ltd
Carbon Underground 200Top 200 carbon reserves
$318.15 MILLION
Petroleo Brasileiro SA Petrobras Participating Preferred
Carbon Underground 200Top 200 carbon reserves
$105.89 MILLION
Petroleo Brasileiro SA Petrobras
Carbon Underground 200Top 200 carbon reserves
$92.21 MILLION
Saudi Arabian Oil Co
Carbon Underground 200Top 200 carbon reserves
$80.6 MILLION
Adani Enterprises Ltd
Carbon Underground 200Top 200 carbon reserves
$40.18 MILLION
China Shenhua Energy Co Ltd Class H
Carbon Underground 200Top 200 carbon reserves
$34.81 MILLION
Fossil fuel holdings
Energy sector
Top 200 owners of carbon reserves
Top 200 owners of carbon reserves
Carbon Underground 200
43
holdings
$1.03B
invested
5.25%
of portfolio
Coal industry
Coal industry
Coal miners, coal services, owners of coal reserves
57
holdings
$862.03M
invested
4.38%
of portfolio
Oil/gas industry
Oil/gas industry
Oil/gas producers and refiners, oil field services and equipment companies, pipeline operators
62
holdings
$1.21B
invested
6.13%
of portfolio
Utility sector
Top 30 coal-fired utilities
Top 30 coal-fired utilities
Macroclimate 30
13
holdings
$117.15M
invested
0.6%
of portfolio
Fossil-fired utilities
Fossil-fired utilities
Utilities burning fossil fuels or distributing gas
75
holdings
$920.64M
invested
4.68%
of portfolio
  When calculating a portfolio's screen exposure, we only consider long investments, ignoring any shorts or liabilities.
All fossil fuel companies
139 holdings
139 holdings
  • 1. Reliance Industries Ltd
    Carbon Underground 200Oil/gas industry
    $318.15M
    1.62%
  • 2. Vale SA
    Coal industry
    $191.64M
    0.97%
  • 3. Petroleo Brasileiro SA Petrobras Participating Preferred
    Carbon Underground 200Oil/gas industry
    $105.89M
    0.54%
  • 4. Petroleo Brasileiro SA Petrobras
    Carbon Underground 200Oil/gas industry
    $92.21M
    0.47%
  • 5. Saudi Arabian Oil Co
    Carbon Underground 200Oil/gas industry
    $80.6M
    0.41%
See all
Share to spread the word.
Business as usual is fueling climate destruction.
iShares MSCI Emerging Markets ETF $EEM is 11% invested in fossil fuel stocks, with $2.25 BILLION invested across 139 equity holdings
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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: 10/31/22
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 
-2.98% less in annualized returns
Less invested in fossil fuels 
0.42% less invested
Higher carbon footprint 
105 tonnes CO2e/$1M USD higher
Less invested in Clean200 
1.79% 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: 10/31/22
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 
-2.98% less in annualized returns
Less invested in fossil fuels 
0.42% less invested
Higher carbon footprint 
105 tonnes CO2e/$1M USD higher
Less invested in Clean200 
1.79% 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: 10/31/22
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 
-2.98% less in annualized returns
Less invested in fossil fuels 
0.42% less invested
Higher carbon footprint 
105 tonnes CO2e/$1M USD higher
Less invested in Clean200 
1.79% 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
-31.34%
-5.12%
-3.74%
0.16%
11% 
Benchmark
ACWX - iShares MSCI ACWI ex U.S. ETF
-24.9%
-1.92%
-0.76%
3.14%
12% 
Fund compared to benchmark
 
-6.43%
-3.21%
-2.98%
-2.98%
0.42%  lower
Find more financial data on EEM at Morningstar.com
What's next?
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