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Published

1 December 2015

Mistra’s carbon footprint


The Swedish Foundation for Strategic Environmental Research (Mistra) has signed the Montréal Carbon Pledge (www.montrealpledge.orgexternal link), an international initiative. Mistra has thus undertaken to measure and report the carbon footprint from its own investments on an annual basis. The Foundation invests mainly in funds and uses external asset managers.

Carbon footprint is one of several parameters for measuring sustainability of investments. The outcome depends on the quality of the underlying business information, the investment strategy and who performs the analysis.

Assisted by the analyst firm Trucost, Mistra measured the carbon footprint of its entire equity portfolio at 30 September 2015. The analysis included data on direct emissions (Scope 1) and indirect emissions from consumption of purchased electricity, heat or steam (Scope 2 plus work-related travel and logistics). Depending on the supply and quality of underlying data, supplementary or estimated figures were sometimes used. The carbon footprint was estimated on the basis of Mistra’s ownership stakes in the companies concerned through its investments in the respective equity funds. The results were compared with weighted benchmark indices (SIX PRX, MSCI World and MSCI Emerging Markets).

Mistra’s carbon footprint is expressed both as tonnes of carbon dioxide equivalent (tCO2e), an absolute value, and as carbon intensity, where the absolute carbon footprint is related to Mistra’s ownership stake in the companies’ turnover (tCO2e/SEK million).

The absolute carbon footprint is 13,842 tCO2e.

The figure for carbon intensity is 20.6 tCO2e /SEKm, against the benchmark index figure of 45.0 tCO2e /SEKm. Accordingly, Mistra’s equity portfolio is 54% less carbon-intensive than the weighted benchmark index.

The equity portfolio analysed had a market value of SEK 1,225m, excluding liquid assets in the funds. This means that 40% of Mistra’s aggregate investments were analysed.

Since 2007, Mistra has invested its assets according to sustainability criteria to reflect Mistra’s function of helping to solve environmental problems and working for sustainable development. As an institutional asset owner and investor, Mistra has the ambition that its asset management should set a good example to other investors wishing to assume responsibility and work for sustainable development. Mistra welcomes and will continue to support further development and standardisation of methods and relevant ways of measuring and reporting on the impact of investments in terms of climate change and their contribution to sustainable development.

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