ISS-ESG has been consulted to advise and calculate the WACI across a majority of the group assets, with a specific focus on BMS. BMS invests in 10 of the funds in the group and has indirect exposure to a large range of asset classes and strategies.
In order to calculate the WACI for the assets in scope, we applied the regular WACI methodology for corporates, and amended the WACI intensity measure so that it also can be applied across sovereigns and commodities. The results were compounded on portfolio levels, and the metrics were calculated for direct and indirect derivative exposure to equities, fixed income or commodities. As a result, it was possible to aggregate WACI on a BMS level with a significant coverage of the asset classes in scope.
The following asset level metrics are the results of that approach which is then appropriately aggregated on portfolio levels.
Tons Co2e / Million USD Revenue (Corporations)
Tons Co2e / Million USD GDP (Sovereigns)
Tons Co2e / Million USD Implied revenue (Commodities)