Hello Gautam and Christopher - this analysis seems to be too simplistic. I would argue that you need to at a minimum control for sector exposures and sector weights in high and low ESG universes. It's highly likely that Tech companies have a relatively higher ESG score and have skewed the results. Again, I am not familiar with Refinitiv methodology as to how they calculate the ESG scores (including weights of E, S and G in a given sector) and what factors they take into consideration under each pillar.