Carbon footprint in our funds

Carbon footprint in our funds2019-01-10T11:01:47+00:00

As a part of Enter Fonder’s sustainability work, we report the carbon footprint since January 2017. The report comprises our equity funds Enter Sverige, Enter Select and Enter Småbolagsfond and the equity part of Enter Preserve.

The carbon footprint is calculated using the intensity measurements that the Swedish Investment Fund Association recommends, that is a measure of the fund’s carbon intensity, where a low number means that the fund increasingly invests in companies with a business that has low emissions relative to their revenues. The value is also presented for each fund’s benchmark.

Each fund’s total CO2e are the total emissions (measured in tonnes) in relation to each company’s turnover per million (tonnes CO2e / MSEK) and multiplied by the fund’s ownership in the respective company. The measure provides information on carbon emissions per MSEK revenue for the companies the fund decides to invest in.

A certain part of the calculation is based on the value that the companies themselves report. For those companies who do not report emissions themselves, a calculated value based on the average value of companies with similar operations or companies in the same industry are presented. The percentage of reporting companies and companies for which the values are estimated are shown in the table.

Carbon dioxide data is retrieved from an external provider that primarily use the data for all the GHG emissions (Greenhouse Gases) in accordance with the GHG Protocol (Greenhouse Gas Protocol Corporate Standard) converted to carbon dioxide. The data shall comprise Scope 1 (the companies’ direct emissions) and Scope 2 (the companies’ indirect emissions from electricity, heating, or steam consumption).

The carbon footprint provides a basis for evaluating certain climate-related financial risks, such as the price of carbon dioxide, and facilitates influencing companies towards reduced emissions, e.g. as a result of requirements in relation to emission reduction goals, risk management, business strategies, and transparency. The metric shall be viewed in the context of the fund management company’s overall sustainability work. The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund’s equity portfolio. The values will vary as the companies’ emissions change, and as the composition of the portfolio changes. Exchange rate fluctuations also affect the metric. Please note that the carbon footprint does not show the investments’ total climate impact, in that, amongst other things:

 only some emissions are included. Indirect emissions from suppliers are not always included in the calculations, nor are the oftentimes substantial emissions that may result from the use of a company’s products;

 emissions data from companies is not comprehensive;

 measurements are only performed for some asset classes;

 emissions savings through products and services are not included;

 information on fossil reserves is not included;

 the metric says nothing about how well a portfolio is positioned in relation to, or its contribution to, a transition to a low-carbon society.

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