{"id":63811,"date":"2026-03-25T10:54:57","date_gmt":"2026-03-25T08:54:57","guid":{"rendered":"https:\/\/www.eticasgr.com\/?p=63811"},"modified":"2026-05-08T17:54:39","modified_gmt":"2026-05-08T15:54:39","slug":"carbon-footprint-2026-report-etica-sicav","status":"publish","type":"post","link":"https:\/\/www.eticasgr.com\/en\/storie\/insights\/carbon-footprint-2026-report-etica-sicav","title":{"rendered":"TCFD Report \u2013 SICAV Etica Funds"},"content":{"rendered":"\nThis document provides a summary of the Climate Impact Report prepared by ISS ESG <a href=\"#nota1\">[1]<\/a> , which is based on its proprietary methodology and refers to the holdings of the Etica <strong>SICAV<\/strong> (hereafter referred to as &#8220;the portfolio&#8221;). The report incorporates metrics that comply with the <strong>Task Force on Climate-related Financial Disclosures&#8217; (TCFD&nbsp;<a href=\"#nota2\">[2]<\/a>) guidelines<\/strong>.\n\nAll asset classes were analysed in accordance with the TCFD recommendations and grouped into two components: <strong>Equity Portfolio<\/strong> (including unlabelled equities and corporate bonds) and <strong>Sovereign Bond Portfolio<\/strong> (comprising only unlabelled sovereign securities).\n\n<strong>Green bonds were excluded from the calculation of issuers&#8217; emissions<\/strong>, as the proceeds are allocated exclusively to the financing of environmental projects. The TCFD analysis measures the contribution of each issuer to greenhouse gas emissions based on its weight in the portfolio, so that the correct share of emissions can be attributed to Etica&#8217;s investment. Including green bonds in this calculation would increase the weighting of the relevant issuer in the portfolio, and consequently the emissions financed. This would distort the results.\n\nA <strong>separate assessment of the use of proceeds<\/strong> from both corporate and sovereign green bonds is available in the report.\n\nThis illustrates the climate performance of the portfolio as of <strong>31 December 2025<\/strong> and compares it with that of the <strong>MSCI World Universal Net Total Return Index<\/strong> (hereinafter referred to as &#8216;the benchmark&#8217;), which is used as the market benchmark on the same date. The content is divided into the following sections: carbon metrics, scenario analysis, transition risk analysis, physical risk analysis, corporate green bonds, sovereign emissions analysis, conclusions.\n","protected":false},"excerpt":{"rendered":"<p>This document provides a summary of the Climate Impact Report prepared by ISS ESG [1] , which is based on its proprietary methodology and refers to the holdings of the Etica SICAV (hereafter referred to as &#8220;the portfolio&#8221;). The report incorporates metrics that comply with the Task Force on Climate-related Financial Disclosures&#8217; (TCFD&nbsp;[2]) guidelines. All [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":42675,"comment_status":"open","ping_status":"closed","sticky":false,"template":"custom-templates\/single-avanzato.php","format":"standard","meta":{"footnotes":""},"categories":[590],"tags":[37529,116],"yst_prominent_words":[1422,1516,10987,5873,616,612,33115,7934,22661,22674,1049,609,1074,5461],"class_list":["post-63811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights","tag-carbon-footprint-en","tag-carbon-footprint","temi-environment"],"_links":{"self":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/63811"}],"collection":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/comments?post=63811"}],"version-history":[{"count":35,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/63811\/revisions"}],"predecessor-version":[{"id":64480,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/63811\/revisions\/64480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media\/42675"}],"wp:attachment":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media?parent=63811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/categories?post=63811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/tags?post=63811"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=63811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}