| Covariate |
| Environmental risk factors |
| Environmental disclosure score―measure based on the extent of a company’s environmental disclosure |
| Total energy consumption―includes energy consumed as electricity or through combustion in boilers, vehicles, etc. |
| Energy intensity per employee―energy consumed per employee |
| Total amount of electricity used |
| Total amount of water used |
| Water intensity per employee―water consumed per employee |
| Total CO2 emissions of the company |
| Number of employee representatives on the board |
| Environmental Cost―cost of environmental conservation and other environmental initiatives undertaken during the normal course of business |
| Environmental Quality Management―indicates whether the company has introduced any kind of environmental management system |
| Emission Reduction―indicates whether the company has implemented any initiatives to reduce its environmental emissions to air |
| Energy Efficiency Policy―indicates whether the company has implemented any initiatives to make its use of energy more efficient |
| Waste Reduction―indicates whether the company has implemented any initiatives to reduce its waste |
| Climate Change Policy―indicates whether the company has outlined its intention to help reduce global emissions of the Greenhouse Gases |
| Green Building―indicates whether the company has taken any steps towards using environmental technologies in construction of its buildings |
| Social risk factors |
| Research and development expenses divided by cash flow from operations |
| Personnel expenses per employee―personnel expenses divided by the number of employees |
| Number of employee representatives on the board |
| Social disclosure score―measure based on the extent of a company’s social disclosure |
| Total number of company employees |
| Percentage of the board of directors that is comprised of non-executive directors |
| Number of directors on the company’s board |
| Number of independent directors on the company’s board |
| Percentage Independent Director―independent directors as a percentage of total board membership |
| Social Supply Chain―indicates whether the company has implemented any initiatives to reduce the social risks in its supply chain |
| Human Rights―indicates whether the company has implemented any initiatives to protect rights of all people it works with |
| ESG Linked Bonus―indicates whether executive compensation is linked to Environmental, Social and Governance goals |
| Health Safety Policy―indicates whether the company has recognized its health and safety risks |