MSCIInstituteTransitionFinanceA quarterly report on financing theshift to a low-carbon economyLinda-Eling LeeTanguy SeneKatie ToweyRumi MahmoodFourth quarter 2025Umar AshfaqTransition Finance Tracker-Q4 2025SectionsForeword→What can physical hazard data tell us about the 2026 World Cup?How have climate funds performed?HighlightsHow do tech giants'energy-related emissions compare?Key termsHow muchlow-carbon energy relative to fossil-fuel energy are bond investors financing?Acknowledgements→How much are companies investing in carbon credits?What percentage of companies have set climate targets?What percentage of companies disclose their emissions?Are companies on track to meet global climate goals?How do companies'emissions trajectories compare with those of their home countries?MSCIInstitute