1 International Energy Agency, Renewable Power Generation Costs in 2020, June 2021, https://www.irena.org/publications/2021/Jun/Renewable-Power-Costs-in-2020
2 International Energy Agency, Renewable Electricity Growth is Accelerating Faster Then Ever Worldwide, Supporting the Emergence of the New Global Energy Economy, Dec. 1, 2021, https://www.iea.org/news/renewable-electricity-growth-is-accelerating-faster-than-ever-worldwide-supporting-the-emergence-of-the-new-global-energy-economy
3 Nature Communications, Crop Switching Reduces Agricultural Losses From Climate Change in the United States by Half Under RCP 8.5, Oct. 5, 2020, https://www.nature.com/articles/s41467-020-18725-w
4 Morgan Stanley, U.S. Pat. No. 11,188,983
Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods.
The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria.
Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally, the longer a bond's maturity, the more sensitive it is to this risk. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to changes in market conditions or changes in the credit quality of the issuer. Bonds are subject to the credit risk of the issuer. This is the risk that the issuer might be unable to make interest and/or principal payments on a timely basis. Bonds are also subject to reinvestment risk, which is the risk that principal and/or interest payments from a given investment may be reinvested at a lower interest rate.
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Equity securities may fluctuate in response to news on companies, industries, market conditions and general economic environment.
Investing in Sector Investments Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.
Asset allocation and diversification do not assure a profit or protect against loss in declining financial markets.
Investing in emerging markets involves certain consideration not usually associated with investing in developed countries, including political and economic situations and instability, adverse diplomatic developments, price volatility, lack of liquidity and fluctuations in the currency exchange.
Investing in foreign markets entails greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks.
Investments in Private Funds which include private equity, hedge funds and real estate often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. These investments are appropriate only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. These investments typically have higher fees than traditional investments. Investors should carefully review and consider potential risks before investing. Private equity funds typically invest in securities, instruments, and assets that are not, and are not expected to become, publicly traded and therefore may require a substantial length of time to realize a return or fully liquidate. They typically have high management, performance and placement fees which can lower the returns achieved by investors. They may be highly illiquid with significant lock-up periods and no secondary market, can engage in leverage and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums. They may be highly illiquid with significant lock-up periods and no secondary market, can engage in leverage and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums. Hedge funds are not required to provide periodic pricing or valuation information to investors, may involve complex tax structures and delays in distributing important tax information, are not subject to the same regulatory requirements as mutual funds, often charge high fees which may offset any trading profits, and in many cases the underlying investments are not transparent and are known only to the investment manager. Risks of Private Real Estate include: illiquidity; a long-term investment horizon with a limited or nonexistent secondary market; lack of transparency; volatility (risk of loss); and leverage.
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