Carbon audit of Henderson Global Care UK Income Fund
08 September 2008
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The overall result from this audit was that the Global Care UK Income Fund is nearly 45% (44.79%) more efficient than the FTSE All Share, the fund benchmark. On average, £1m invested in the fund produces 317 tonnes of CO2e compared with 575 tonnes of CO2e if the same amount were invested in the FTSE All Share. This represents a significant improvement on last year’s performance which was 402 tonnes of CO2e for every £1m invested. However, because the carbon footprint of the FTSE All Share has also improved, the relative performance has stayed approximately the same.
This report summarises the analysis of the carbon impacts of the Global Care UK Income Fund managed by Henderson Global Investors. The greenhouse gas emissions for each holding in the fund has been calculated and converted to tonnes of carbon dioxide equivalent (CO2e). The direct emissions from each company are taken into account as well as the indirect emissions from the first tier of suppliers (eg, from purchased electricity).
Each holding's contribution to the emissions profile of the fund is then calculated on an equity ownership basis. The carbon footprint of the fund is the sum of all of these contributions. The carbon intensity of the fund is the carbon footprint normalised by the turnover owned. This analysis has also been carried out on the fund’s benchmark, the FTSE All-Share, for the purposes of comparison.
Why did Henderson Global Investors commission the research?
2008 marks the fourth year that Henderson Global Investors have undertaken a carbon audit of their Global Care UK Income Fund. The research, produced independently by Trucost, analyses the levels of GHGs produced by companies held in the fund and helps Henderson Global Investors to understand how their companies perform against their peers.
Further Trucost research commissioned by Henderson