Disclaimer
Confermo di essere un cliente professionale
Le informazioni e le opinioni contenute in questa sezione del Sito cui sta accedendo sono destinate esclusivamente a Clienti Professionali come definiti dal Regolamento Consob n. 16190 del 29 ottobre 2007 (articolo 26 e Allegato 3) e dalla Direttiva CE n. 2004/39 (Allegato II), e sono concepite ad uso esclusivo di tali categorie di soggetti. Ne è vietata la divulgazione, anche solo parziale.
Al fine di accedere a tale sezione riservata, si prega di confermare di essere un Cliente Professionale, declinando Robeco qualsivoglia responsabilità in caso di accesso effettuato da una persona che non sia un cliente professionale.
In ogni caso, le informazioni e le opinioni ivi contenute non costituiscono un'offerta o una sollecitazione all'investimento e non costituiscono una raccomandazione o consiglio, anche di carattere fiscale, o un'offerta, finalizzate all'investimento, e non devono in alcun caso essere interpretate come tali.
Prima di ogni investimento, per una descrizione dettagliata delle caratteristiche, dei rischi e degli oneri connessi, si raccomanda di esaminare il Prospetto, i KIIDs delle classi autorizzate per la commercializzazione in Italia, la relazione annuale o semestrale e lo Statuto, disponibili sul presente Sito o presso i collocatori.
L’investimento in prodotti finanziari è soggetto a fluttuazioni, con conseguente variazione al rialzo o al ribasso dei prezzi, ed è possibile che non si riesca a recuperare l'importo originariamente investito.
Sustainable Investing
Environmental Footprint Reporting
Environmental Footprint Reporting is part of Robeco’s sustainability reporting tool, ESGenius. The tool quantifies the environmental footprint of portfolio companies using data on their greenhouse gas emissions, water use and waste generation and helps investors measure the environmental footprint of their portfolios.
Footprint reports can be generated for Robeco’s entire range of products. Though reports are backward looking, when used in combination with other ESG research and other forward-looking data, they contribute to a company’s overall sustainability profile.
Which types of environmental footprint are measured?
Greenhouse gas (GHG) emissions – measures aggregate Scope 1 and Scope 2 emissions. Scope 1 are direct emissions generated by company-owned or -controlled sources. Scope 2 are indirect emissions associated with purchased electricity or heat from upstream utilities or other suppliers. Scope 3 include emissions generated downstream by company customers. The tool allows separate reporting on Scope 1, 2, and 3.
Water use – measures the total volume of freshwater used by a company to produce goods and services and includes water volumes consumed (evaporated or incorporated into a product) and/or polluted.
Waste generation – measures dry waste, the residual by-product of a company’s production processes that is intended to be discarded.
Creating returns that benefit the world we live in
How is a portfolio’s footprint calculated?
To calculate the environmental footprint associated with the portfolio, each type of footprint must first be converted (or normalized) into a portfolio’s unit of measure – asset value as measured in millions of USD. Each footprint is normalized by dividing it by the company’s enterprise value. The end result is expressed per 1 million USD invested in the company.
To illustrate, consider a company that emits 500 million metric tons of CO2-equivalents (tCO2-eq) per year and has an enterprise value of USD 10 million. Its end GHG footprint will be 50 metric tons of CO2-eq for every million USD invested. This normalized footprint is then multiplied by the respective company’s weight in the portfolio. If we assume investments in the company represent 10% of the portfolio, then the portfolio attributed emissions from holding this company is 5 tCO2eq per one million USD invested.
Footprint values are calculated for each portfolio company and then aggregated across all portfolio constituents to yield a final footprint value. For comparison, environmental footprints are also calculated for the constituents of the portfolio’s respective benchmark. Figure 1 displays the environmental footprints associated with both the portfolio and its benchmark.
The associated GHG emissions for the company above constitute around 9% (5/56.3 tCO2eq) of the portfolio’s entire emissions footprint. Moreover, the portfolio’s associated emissions are 18.9% lower than those of its market benchmark.
Figure 1 Sample – Environmental Footprint Report
Source: Robeco data based on Trucost data. S&P Trucost Limited © Trucost 2022. All rights in the Trucost data and reports vest in Trucost and/or its licensors. Neither Trucost, nor its affiliates, nor its licensors accept any liability for any errors, omissions or interruptions in the Trucost data and/or reports. No further distribution of the Data and/or Reports is permitted without Trucost's express written consent.
