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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 measures the carbon footprint of the Group’s direct equity and fixed income investments annually. The analysis includes If, Topdanmark, Hastings, Mandatum Life, and Sampo plc’s investments at the end of 2020. Hastings was included for the first time in 2020, which means that the results are not comparable to previous years.

The carbon footprint calculations included 93.7 per cent of Sampo Group’s total direct equity investments and 81.3 per cent of direct fixed income investments as at December 31, 2020. The equity and fixed income portfolios included in the carbon footprint report had market values of EUR 2,261 million and EUR 14,667 million, respectively. The carbon footprint analysis covered 61.5 per cent of all Sampo Group’s investments at the end of 2020.

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, 2020 Equity and Fixed Income Investments,
31 Dec 2020
31 Dec 2020
Net performance 2020 (equity investments vs. benchmark), %
Financed emissions scope 1 and 2 (tCO2e) 824,711 1,077,779 23.5
Financed emissions incl. scope 3 (tCO2e) 2,539,330 4,577,683 44.5
Relative carbon footprint (tCO2e/EURm invested) 48.72 63.67 23.5
Carbon intensity (tCO2e/EURm revenue) 176.55 182.72 3.4
Weighted average carbon intensity (tCO2e/EURm revenue) 68.11 169.54 59.8

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.

More information in Sampo Group’s Corporate Responsibility report, p. 131.

Updated 11 May 2021