Financial Innovation

Table 2 Correlation table

From: Financial markets implications of the energy transition: carbon content of energy use in listed companies

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)
TQ (1)	1	−0.256	−0.152	−0.140	−0.139	−0.017	0.182	0.061	−0.061	−0.012	−0.020	0.00004
Assets (2)	−0.256	1	0.319	−0.047	0.110	−0.050	−0.010	−0.060	0.072	−0.008	−0.314	−0.130
Carbon intensity (3)	−0.152	0.319	1	0.745	0.434	0.132	−0.050	−0.218	0.017	−0.034	−0.125	−0.329
Energy Intensity (4)	−0.140	−0.047	0.745	1	0.359	0.214	−0.090	−0.009	−0.040	−0.025	−0.119	−0.237
Energy Footprint (5)	−0.139	0.110	0.434	0.359	1	0.029	−0.041	−0.050	0.003	0.004	−0.024	−0.035
Corporate Leverage (6)	−0.017	−0.050	0.132	0.214	0.029	1	−0.098	0.074	−0.113	−0.016	0.074	−0.020
Dividend Payouts (7)	0.182	−0.010	−0.050	−0.090	−0.041	−0.098	1	0.127	0.096	−0.009	−0.061	−0.011
Operating Profit Margins (8)	0.061	−0.060	−0.218	−0.009	−0.050	0.074	0.127	1	0.012	0.124	−0.016	0.100
Retained Earnings Assets (9)	−0.061	0.072	0.017	−0.040	0.003	−0.113	0.096	0.012	1	−0.002	0.009	−0.015
Revenue Growth (10)	−0.012	−0.008	−0.034	−0.025	0.004	−0.016	−0.009	0.124	−0.002	1	−0.037	0.003
Price (11)	−0.020	−0.314	−0.125	−0.119	−0.024	0.074	−0.061	−0.016	0.009	−0.037	1	0.045
CCE (12)	0.00004	−0.130	−0.329	−0.237	−0.035	−0.020	−0.011	0.100	−0.015	0.003	0.045	1

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