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S&P Europe 350 ESG Index

Component of S&P ESG Index Family

Product Type: Index Owner Reviewed: 2016-07-14

Issue Coverage: Environmental/Social/Governance (ESG) Combined

Primary ESG Audience: Investors

Number of Companies: 355

The S&P Europe 350 ESG Index is part of the S&P ESG Index family and is designed to measure the performance of the constituent companies within the S&P Europe 350, with a weighting scheme that accounts for each company’s ESG Factor Score, as assessed by RobecoSAM.

URL for More Information:


S&P Dow Jones Indices

Primary Research Organization


Additional Research Providers


Part I: Product Attributes

Evaluation / Selection Criteria

All components of the underlying index are included, while overweighting more sustainable companies and underweighting less sustainable companies. Index constituent weights are determined in part from a company’s ESG Factor Score. The ESG Factor Scores are derived from RobecoSAM’s annual Corporate Sustainability Assessment (CSA). To arrive at the ESG Factor Scores required for the S&P ESG Index Series, a company's score is subjected to the following: 1. ESG Factor Scores are tilted towards financial materiality, and 2. ESG Factor Scores are neutralized with respect to factors such as GICS industries, sub-industries, and countries; traditional quantitative equity factors such as momentum, value, and size are also neutralized. As a result of the yearly corporate assessment, RobecoSAM generates a fully neutralized ESG Factor Score for each constituent of the underlying index. These ESG Factor Scores are then used as inputs for the S&P ESG Index Series.

Market Cap Coverage

Large Cap ($10 Billion +)
Mid Cap ($2 Billion to $10 Billion)
Small Cap (Less than $2 Billion)

Geographic Coverage


Underlying Universe

S&P Europe 350

Part III: Methodology

Evaluation Update Frequency

- Bi-annual (March and September)
- The RobecoSAM Corporate Sustainability Assessment is conducted on an annual basis. Company sustainability data is assessed at each semi-annual rebalancing using the latest RobecoSAM CSA scores.


- Not Included

Methodological Basis

- Disclosure-based
- Performance-based
- Trends-based
- Goals-based/normative
- Sector-based Comparison

Methodological Method

- Hybrid

Methodology Update Frequency

- Annual

Data Gaps

- Penalize company for missing data

Data Sources

- Company Disclosure
- Company Direct Contact
- CSO/NGO Disclosure
- CSO/NGO Direct Contact
- Trade Union Disclosure
- Media
- Government
- ESG Data Provider

Part II: Issues & Indicators

Total Number of ESG Issues Covered : 100

Environmental Issues: Water Related Risks; Hazardous Substances; Packaging; Operational Eco-Efficiency; Genetically Modified Organisms; Low Carbon Strategy; Recycling Strategy; International Production Standards; Releases to the Environment; Resource Conservation and Resource Efficiency; Fuel Efficiency; Transmission & Distribution; Environmental Reporting; Product Stewardship; Risk Detection; Electro Magnetic Fields; Environmental Policy/Management System; Climate Strategy; Sustainable Management of Forests; Sustainable Fiber and Pulp Sourcing; Raw Material Environmental: Sourcing; Building Materials; Mineral Waste Management; Manufactured Gas Plants; Biodiversity; Electricity Generation; Business Risks and Opportunities.

Social Issues: Access to Water; Social Impacts on Communities; Corporate Citizenship and Philanthropy; Social Reporting; Bioethics; Responsible Marketing Policies; Healthy Living; Controversial Issues, Dilemmas in Lending / Financing; Asset Closure Management; Service to Patients; Human Capital Development; Financial Inclusion Impact of Telecommunication Services; Talent Attraction & Retention; Partnerships Towards Sustainable Healthcare; Addressing Cost Burden; Occupational Health and Safety; Local Impact of Business Operations; Health Outcome Contribution; Social Integration & Regeneration; Responsibility for Alcoholic Products; Digital Inclusion; Promoting Responsible Gaming; Stakeholder Engagement; Labor Practice Indicators and Human Rights; Strategy to Improve Access to Drugs or Products; Responsibility of Content.

Governance Issues: Risk & Crisis Management; Anti-crime Policy/Measures; Codes of Conduct/Compliance/Corruption & Bribery; Combating Smuggling; Compliance with Applicable Export Control Regimes; Antitrust Policy; Corporate Governance; Financial Stability and Systemic Risk; Tax Strategy.

Other Issues: Innovation Management; Brand Management; Ecosystem Services; Reliability; Efficiency; Food Safety; Water Operations; Health & Nutrition; Gas Portfolio; Payment Transparency; Price Risk Management; Scorecards/Measurement Systems; Supply Chain Management; IT Security & System Availability; Privacy Protection; Customer Relationship Management; Diversification; Non-financial Project Evaluation; Marketing Practices; Market Opportunities; Exploration & Production; Strategy for Emerging Markets; Product Quality and Recall Management; Fleet Management; Independence of Content; Online Risks and Opportunities; Principles for Sustainable Insurance.

Total Number of ESG Indicators Covered : 3312

Part IV: Disclosure

Client Disclosure

- Issues - Complete List
- Indicators - Partial List
- Ratings Methodology
- Data Sources

Public Disclosure

- Issues - Complete List
- Indicators - Partial List
- Ratings Methodology
- Data Sources

Rated Company Disclosure

- Issues - Complete List at no charge
- Indicators - Complete List at no charge
- Ratings Methodology no charge
- Data Sources at no charge
- As part of the Corporate Sustainability Assessment, companies receive access to their individual profile/ rating. For the S&P ESG family of indices, companies do not however receive their ESG factor score, which is based on the same underlying data as the Corporate Sustainability Assessment, however using a different calculation and aggregation methodology.

Rated Company Interaction

- Rater responds to requests for assistance on survey/questionnaire
- Rater has protocol/policy to address errors or grievances- Rater provides free feedback to improve/enhance score and performance

Survey Use: Yes

Survey Cycle Date: April

Survey Cycle

Annual Survey. Start of Online Questionnaire Process: April 5, 2016. Deadline for submission of questionnaire, documents and signed approval form: May 31, 2016.

Response Time: 2 months