Paris-aligned benchmark (PAB)

    ESG & Governance

    An EU-defined index type whose carbon intensity is at least 50% below its parent index and falls by at least 7% a year, with fossil fuel exclusions.

    The PAB and the less strict Climate Transition Benchmark (at least 30% below the parent index, with the same 7% yearly cut) are set out in EU benchmark rules. PABs also exclude companies above set revenue thresholds from coal, oil and gas. Passive funds that track them have lower carbon metrics than the broad market by design.

    Related terms

    Weighted average carbon intensity (WACI)EU TaxonomyImplied temperature rise (ITR)

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