Baseline measurement Target Report
With regard to climate, a baseline measurement was carried out at the end of 2020 to determine the carbon footprint of our (almost entire) portfolio in developed markets equities. This measurement covers about 99.6% of the value of our entire portfolio in developed markets equities (2019: 93.9%) and about 33.1% of the value of our total portfolio (2019: 30.8 %).
Certain information ©2020 MSCI ESG Research LLC. Reproduced by permission
The CO2 emissions are measured by dividing our investment in a company by the market value of that company (this determines our share of ownership in that company) and multiplying this by the (scope 1 + 2) CO2 emissions of that company. These emissions, which can be attributed to our investment in this way, are then summed over all companies in which we have invested and for which CO2 emission data are available. The CO2 emission figures have been obtained from MSCI and relate to 2019. The investments in our portfolio were measured at the end of 2019 and 2020 respectively.
Moreover, the CO2 emission figures that are mentioned above do not only include emissions of carbon dioxide sec, but also of the greenhouse gases methane mentioned in the Kyoto Protocol (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PCFs), sulfur hexafluoride (SF6) and nitrogen trifluoride. (NF3). The emissions of these greenhouse gases have been converted into ‘CO2 equivalent’ emissions based on their relative greenhouse effect. Reporting CO2e instead of CO2 sec follows the “Greenhouse Gas Protocol Corporate Accounting and Reporting Standard” and is the standard reporting of greenhouse gas emissions within ESG reports.
As these figures indicate, there has been a huge reduction in CO2 footprint in our portfolio in 2020, mainly due to a change in our investment strategy to replace RAFI, a relatively large part in the industry and energy sector, with a multi-factor strategy.
Next year, the measuring instrument will be completed as far as possible with measurements for water, human rights and possibly other ESG criteria.
 Although Stichting Heineken Pensioenfonds information providers, including without limitation, MSCI ESG Research LLC and its affiliates (the “ESG Parties”), obtain information (the “Information”) from sources they consider reliable, none of the ESG Parties warrants or guarantees the originality, accuracy and/or completeness, of any data herein and expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. The Information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for, or a component of, any financial instruments or products or indices. Further, none of the Information can in and of itself be used to determine which securities to buy or sell or when to buy or sell them. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.