There are various data sets available to map environmental emissions of investments. These metrics focus on public equity and disclosure varies by region, sector, market capitalisation and on a business by business basis. Given the unreliability of the data, the structure of the fund and diversity of the portfolio – including public and private equity, credit and property – mapping individual positions is not possible. We have, however, sought to model the OEF on the basis of its sector exposure. The methodology is assumption based and results are highly estimated.
We have used sector exposures and Bloomberg data available for the MSCI All Country World Index (ACWI) to analyse the portfolio and establish how the fund is positioned vs the market. Findings at 31 December 2017 are included in the following chart:
Source: Bloomberg. GHG Scope 1 = All direct Greenhouse Gas (GHG) emissions. GHG Scope 2 = Indirect GHG emissions from consumption of purchased electricity, heat or steam.
This chart shows that due to OUem’s investment approach, the OEF is below ‘benchmark’ weighting in these areas of emissions and resource use (the horizontal blue line represents the MSCI ACWI). That is to say, that if the collegiate University was to choose to invest passively, there would be greater emission from the portfolio. Please note that while these results are encouraging, and we will continue to review, there is significant room for error in this analysis.