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Carbon Footprint of Investments

For Sampo Group companies, investment activities are the most significant way of mitigating climate change. Sampo plc measured the carbon footprint of the Group’s direct equity and fixed income investments again in 2019. The analysis included If, Topdanmark, Mandatum Life, and Sampo plc’s investments at the end of 2019.

The carbon footprint calculations included 86.5 per cent of Sampo Group’s total direct equity and fixed income investments as at 31 December 2019. The equity and fixed income portfolios included in the carbon footprint report had market values of EUR 15,018 million and EUR 2,897 million, respectively. This means that the carbon footprint analysis covered 66.8 per cent of all Sampo Group’s investments at the end of 2019.

A global ETF, iShares MSCI World ETF, was used as a benchmark. However, it should be noted that the benchmark aims to provide a general baseline for analysis and should only be considered as suggestive. The ETF does not directly reflect Sampo Group’s portfolio.

Carbon Footprint of Investments, Sampo Group, 2019 Direct Equity and Fixed Income Investments,
31 Dec 2019
31 Dec 2019
Net performance (Sampo Group vs. benchmark), %
Financed emissions scope 1 and 2 (tCO2e) 449,078 1,188,919 62.2
Financed emissions incl. scope 3 (tCO2e) 1,655,927 5,137,135 67.8
Relative carbon footprint (tCO2e/EURm invested) 28 75 62.2
Carbon intensity (tCO2e/EURm revenue) 134 209 35.6
Weighted average carbon intensity (tCO2e/EURm revenue) 66 199 66.9

The financed emissions measure the carbon footprint of a portfolio taking Scope 1 & 2 as well as Scope 3 emissions into account. The relative carbon footprint is a normalized measure, defined as the total carbon emissions of the portfolio for each million euros invested. Carbon intensity is a metric that applies the ownership approach to also determine an investor’s share of revenue, subsequently dividing one by the other. By linking to revenue, the metric is intended to describe the carbon efficiency of the underlying holdings. The weighted average carbon intensity is derived directly from the TCFD recommendations, where GHG emissions are allocated based on portfolio weights rather than the ownership approach.

Further information can be found in the Corporate Responsibility Report (page 94).

Updated 7 May 2020