Transparency Index™

EXCLUDED Industry:

Summary of Methodology

Transparency Index™ methodology applies the exclusionary screening process to filter out industries that do not align with a positive impact on investment performance and the well-being of people.

Description of Industry

Oil & Natural Gas industry is comprised of companies involved in the global process of exploration, extraction, refining, transportation and marketing of petroleum and natural gas products.

Oil & Natural Gas industry, as defined by the GICS sub-industry classification (Oil, Gas, & Consumable Fuels), includes Integrated Oil & Gas, Oil & Gas Exploration & Production, Oil & Gas Refining & Marketing, Oil & Gas Storage & Transportation, Coal & Consumable Fuels.

Reason for Exclusion

  1. Oil & Natural Gas industry failed two transparency factors: Terms and Conditions and Trust
  2. Air pollution and ozone damage – 13 million metric tons methane annual emissions.
  3. Negatively impacts performance.

Harmful Impact

Investment in Fossil Fuel Transportation industry has adverse impacts on human and environmental well-being.
  • 195 Million Gallons of Gas Spilled into Ocean Each Year damaging ecosystems and impacting human health.1
  • Oil Fracking Leaks 13 Million Metric Tons of Methane into Atmosphere Each Year leading to fatal air pollution and ozone degredation.2
  • ~20,000 Deaths linked to Oil & Gas Extraction each year.3
  • Health of 600 Million People Impacted by existing oil fields. Cancer, liver damage, immunodeficiencies and neurological symptoms, and child leukemia risks linked to oil and gas production.3

Performance Impact

The Transparency Index 5-year cumulative dollarized return is more than 1.9 times higher than the S&P 500 Index and 4.3 times higher than the S&P 500 Oil and Gas Portfolio.

Transparency Index Performance Impact vs. S&P 500 - Oil & Natural Gas Industry


  • The graph shows cumulative returns for the period from January 1, 2017 to December 31, 2021
  • Starting value $10,000 hypothetical investment, assuming no withdrawal and no dividends
  • Past performance is not an indicator of future performance
  • View Annualized Returns*

*The Transparency 100 Index (the “Index”) commenced on June 16th, 2021 following the market close. All information presented prior to this date is back-tested. Back-tested performance is hypothetical performance, not actual performance. Back-tested performance is prepared by retrospectively applying the Index methodology to historical information with the benefit of hindsight.  Back-tested performance, therefore, does not reflect the results of actual trading.  Back-tested, as well as actual performance, are not indicative of future results.  The back-tested performance uses the same methodology that was in effect when the Index officially launched on June 16th, 2021. The back-tested performance shown in this presentation are unaudited, and do not reflect the investment of dividends or other earnings. The Index does not reflect the reinvestment of dividends.