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Abstract

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  2. Abstract

Table 4 reports the environmental damages of investing $1,000 into equity funds. The line for the ecosystem quality damage in Ecoindicator (EI) points shows incorrect figures. In the relational database used to generate this table, the variable for the nonnormalized damage was mistakenly used instead of that for normalized damage. Below, the table is shown with the corrected figures in italic letters.

Table 4.  corrected: Comparative environmental damages of investing $1,000 into 13 conventional funds versus 13 sustainability funds
  Conv. fundsSust. fundsSig.
MeanStd. Dev.MeanStd. Dev.
  1. Note: The first block shows absolute damages inline image; the second block, the robustness check for damages inline image with correction factors y; and the third block, damages inline image relative to risk-adjusted performance RAP2004 of the funds. The significance of differences of the mean is tested with a t test (*p < 0.1 and **p < 0.05).

inline imageHuman health damage in EI points0.100.040.080.03*
Ecosystem quality damage in EI points0.010.000.010.00 
Resource damage in EI points0.560.420.340.19*
Total env. damage in EI points0.200.130.130.06*
inline imageTotal env. damage in EI points with y = 2.000.190.120.120.05*
Total env. damage in EI points with y = 1.000.200.130.120.06*
Total env. damage in EI points with y = 0.500.200.130.120.06*
Total env. damage in EI points with y = 0.250.200.130.130.06*
inline imageTotal env. damage in EI points to RAP20040.030.030.010.01*