Asset Allocation
A high-level asset allocation breakdown is as follows:
·
Public Equities: 48%
o
International DM Equities: 22%
o
Australian Equities: 15%
o
International EM Equities: 11%
·
Alternative Investments: 32%
o
Private Equity: 17%
o
Real Estate: 7%
o
Infrastructure: 8%
·
Fixed Income: 17%
o
Australian Sovereign Bonds: 10%
o
International Sovereign Bonds: 7%
·
Cash: 3%
Allocate the assets to Net-Zero pledge and decarbonization strategy. By 2050 all assets should be allocated with zero emissions.
How do you relate the asset allocation for the Australian pension funds.
Model Inputs MIPC 2022 Illustrative Model Model Inputs Year20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050Changes to Sectoral Allocations Portfolio Sector Allocation - Option 1 Energy5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%0% Utilities3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%0% Materials5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%5%0% Industrials10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%10%0% Consumer Discretionary12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%0% Consumer Staples7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%7%0% Health Care12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%12%0% Real Estate3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%0% Information Technology21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%21%0% Financials14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%14%0% Communication Services8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%0% TOTAL100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% Expected Decrease in Intensity by 2050 Carbon Intensity (tCO2e/$M Sales) - Option 1 Energy68026705660865106413631662196122602559275830573356365539544253445247515050534956485947614664456744704373427641784081-40% Utilities33583310326232143166311830703022297429262878283027822734268626382590254224952447239923512303225522072159211120632015-40% Materials39723915385938023745368836323575351834613405334832913234317831213064300729512894283727802724266726102553249724402383-40% Industrials958944931917903890876862849835821807794780766753739725712698684671657643630616602588575-40% Consumer Discretionary850838826814801789777765753741729716704692680668656644631619607595583571559546534522510-40% Consumer Staples626617608599590581572563554546537528519510501492483474465456447438429420411402393385376-40% Health Care401395390384378372367361355349344338332327321315309304298292286281275269264258252246241-40% Real Estate407401395390384378372366360355349343337331326320314308302297291285279273267262256250244-40% Information Technology407401395390384378372366360355349343337331326320314308302297291285279273267262256250244-40% Financials342337332327322318313308303298293288283278274269264259254249244239235230225220215210205-40% Communication Services217214211208205202198195192189186183180177174171167164161158155152149146143140136133130-40% Changes to Sectoral Allocations Portfolio Sector Allocation - Option 2 Energy5%5%5%5%5%5%4%4%4%4%4%4%4%4%3%3%3%3%3%3%3%3%2%2%2%2%2%2%2%-69% Utilities3%3%3%3%3%3%3%3%3%2%2%2%2%2%2%2%2%2%2%2%2%2%1%1%1%1%1%1%1%-69% Materials5%5%4%4%4%4%4%4%4%4%3%3%3%3%3%3%3%3%3%2%2%2%2%2%2%2%2%2%1%-69% Industrials10%9%9%9%9%8%8%8%8%7%7%7%7%6%6%6%6%6%5%5%5%5%4%4%4%4%3%3%3%-69% Consumer Discretionary12%12%12%12%12%12%12%12%12%12%12%13%13%13%13%13%13%13%13%13%13%13%13%14%14%14%14%14%14%20% Consumer Staples7%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%9%9%9%9%9%9%9%9%9%9%20% Health Care12%12%12%12%13%13%13%13%13%13%13%13%13%13%13%13%14%14%14%14%14%14%14%14%14%14%14%15%15%20% Real Estate3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%3%20% Information Technology21%22%22%22%22%22%22%23%23%23%23%23%23%23%24%24%24%24%24%24%25%25%25%25%25%25%25%26%26%20% Financials14%14%15%15%15%15%15%15%15%15%15%15%16%16%16%16%16%16%16%16%16%17%17%17%17%17%17%17%17%20% Communication Services8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%8%9%9%9%9%9%9%9%9%9%9%9%20% TOTAL100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% Expected Decrease in Intensity by 2050 Carbon Intensity (tCO2e/$M Sales) - Option 2 Energy680268026802680268026802680268026802680268026802680268026802680268026802680268026802680268026802680268026802680268020% Utilities335833583358335833583358335833583358335833583358335833583358335833583358335833583358335833583358335833583358335833580% Materials397239723972397239723972397239723972397239723972397239723972397239723972397239723972397239723972397239723972397239720% Industrials9589589589589589589589589589589589589589589589589589589589589589589589589589589589589580% Consumer Discretionary8508508508508508508508508508508508508508508508508508508508508508508508508508508508508500% Consumer Staples6266266266266266266266266266266266266266266266266266266266266266266266266266266266266260% Health Care4014014014014014014014014014014014014014014014014014014014014014014014014014014014014010% Real Estate4074074074074074074074074074074074074074074074074074074074074074074074074074074074074070% Information Technology4074074074074074074074074074074074074074074074074074074074074074074074074074074074074070% Financials3423423423423423423423423423423423423423423423423423423423423423423423423423423423423420% Communication Services2172172172172172172172172172172172172172172172172172172172172172172172172172172172172170% 10-Year Annualized Standard Deviation Energy23.12% Utilities12.38% Materials17.73% Industrials15.44% Consumer Discretionary16.12% Consumer Staples11.04% Health Care12.90% Real Estate14.07% Information Technology16.81% Financials16.94% Communication Services13.92% CorrelationEnergyUtilitiesMaterialsIndustrialsConsumer DiscretionaryConsumer StaplesHealth CareReal EstateInformation TechnologyFinancialsCommunication Services Energy10.5180.7600.7370.5810.5360.5170.5600.5230.7580.543 Utilities0.51810.6200.6800.5680.7880.6480.7780.5380.6420.619 Materials0.7600.62010.8760.7500.6850.6510.6780.6610.8390.679 Industrials0.7370.6800.87610.8430.7580.7480.7590.7670.9110.744 Consumer Discretionary0.5810.5680.7500.84310.6920.7290.7020.8760.7870.826 Consumer Staples0.5360.7880.6850.7580.69210.7600.7370.6480.7090.702 Health Care0.5170.6480.6510.7480.7290.76010.6670.7530.6940.687 Real Estate0.5600.7780.6780.7590.7020.7370.66710.6440.7380.675 Information Technology0.5230.5380.6610.7670.8760.6480.7530.64410.6990.782 Financials0.7580.6420.8390.9110.7870.7090.6940.7380.69910.721 Communication Services0.5430.6190.6790.7440.8260.7020.6870.6750.7820.7211 CovarianceEnergyUtilitiesMaterialsIndustrialsConsumer DiscretionaryConsumer StaplesHealth CareReal EstateInformation TechnologyFinancialsCommunication Services Energy0.0530.0150.0310.0260.0220.0140.0150.0180.0200.0300.017 Utilities0.0150.0150.0140.0130.0110.0110.0100.0140.0110.0130.011 Materials0.0310.0140.0310.0240.0210.0130.0150.0170.0200.0250.017 Industrials0.0260.0130.0240.0240.0210.0130.0150.0160.0200.0240.016 Consumer Discretionary0.0220.0110.0210.0210.0260.0120.0150.0160.0240.0210.019 Consumer Staples0.0140.0110.0130.0130.0120.0120.0110.0110.0120.0130.011 Health Care0.0150.0100.0150.0150.0150.0110.0170.0120.0160.0150.012 Real Estate0.0180.0140.0170.0160.0160.0110.0120.0200.0150.0180.013 Information Technology0.0200.0110.0200.0200.0240.0120.0160.0150.0280.0200.018 Financials0.0300.0130.0250.0240.0210.0130.0150.0180.0200.0290.017 Communication Services0.0170.0110.0170.0160.0190.0110.0120.0130.0180.0170.019 **MSCI ACWI indices are used as references for the above data. Index emissions data and initial sector allocation weights are as of August 31, 2022. Annualized standard deviations and correlations based on daily returns are calculated over a 10-year period from August 31, 2012 to August 31, 2022. Option #1 Year20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050 STD DEV (%) of equity portfolio13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6% Carbon intensity contribution per sector Energy356351346340335330325320315310305300295290285280274269264259254249244239234229224219213 Utilities1071061041031011009897959492918987868483818078777574727169686664 Materials184182179176174171169166163161158155153150147145142140137134132129126124121118116113111 Industrials9290898887858483818079777675737271696867666463626059585655 Consumer Discretionary9997969493919089878684838280797776757372706968666563626159 Consumer Staples4746454544434342414140393938373736353534333332313130292928 Health Care4948474746454544434342414040393838373636353433333231313029 Real Estate1111111111101010101010999999888888877777 Information Technology8786858482818079777675747271706967666564626160595756555452 Financials4948484746464544434342414140393938373636353434333232313029 Communication Services1616161615151515151414141413131313121212121111111111101010 Total carbon intensity of equity portfolio1097108210661050103510191003988972956941925909894878862847831815800784768752737721705690674658 Portfolio Sector Allocation - Option 120222050 Energy5%5% Utilities3%3% Materials5%5% Industrials10%10% Consumer Discretionary12%12% Consumer Staples7%7% Health Care12%12% Real Estate3%3% Information Technology21%21% Financials14%14% Communication Services8%8% Carbon Intensity and Volatility Trajectory (Option 1) Energy20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050355.74459999999999350.66253428571429345.58046857142853340.49840285714282335.41633714285712330.33427142857136325.25220571428565320.17013999999989315.08807428571419310.00600857142848304.92394285714272299.84187714285702294.75981142857125289.67774571428555284.59567999999985279.51361428571408274.43154857142838269.34948285714262264.26741714285691259.18535142857121254.10328571428548249.02121999999974243.93915428571401238.85708857142828233.77502285714257228.69295714285684223.61089142857111218.52882571428538213.44675999999998Utilities20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050107.456105.92091428571429104.38582857142858102.85074285714286101.3156571428571599.78057142857143498.24548571428572196.71040000000000795.17531428571429393.6402285714285892.10514285714286690.57005714285715289.03497142857143887.49988571428573985.96480000000002584.42971428571431182.89462857142859881.35954285714288479.8244571428571778.28937142857145776.75428571428574375.21920000000002973.68411428571431572.14902857142860270.61394285714288869.07885714285717467.54377142857146166.00868571428574764.473600000000005Materials20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050184.30079999999998181.66793142857142179.03506285714283176.40219428571427173.76932571428569171.1364571428571168.50358857142854165.87071999999995163.23785142857139160.6049828571428157.97211428571421155.33924571428565152.70637714285706150.0735085714285147.44063999999992144.80777142857136142.17490285714277139.54203428571418136.90916571428562134.27629714285703131.64342857142847129.01055999999988126.37769142857131123.74482285714274121.11195428571416118.47908571428559115.84621714285701113.21334857142844110.58047999999998Industrials2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205091.77639999999999590.46530857142856589.15421714285713587.84312571428570586.53203428571427585.22094285714284583.90985142857141582.59875999999998481.28766857142855479.97657714285712478.6654857142856877.3543942857142576.0433028571428274.73221142857138973.42111999999995972.11002857142852970.79893714285709969.48784571428566968.17675428571423966.86566285714280965.55457142857137964.24347999999994862.93238857142851161.62129714285708160.31020571428565158.99911428571422157.68802285714279156.37693142857136155.065839999999994Consumer Discretionary2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205098.51500000000000197.10764285714286495.70028571428572794.2929285714285992.88557142857145391.47821428571430190.07085714285716488.66350000000002887.25614285714289185.84878571428575484.44142857142861783.03407142857146581.62671428571432880.21935714285719178.81200000000005477.40464285714291775.99728571428578174.58992857142864473.18257142857149271.77521428571435570.36785714285721868.96050000000008167.55314285714294466.14578571428580764.7384285714286763.33107142857152661.92371428571438260.51635714285724559.109000000000002Consumer Staples2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205046.82480000000000346.15587428571428345.4869485714285744.8180228571428544.14909714285713743.48017142857141742.81124571428570442.14231999999998441.47339428571427140.80446857142855140.13554285714283139.46661714285711838.79769142857139738.12876571428568437.45983999999997136.79091428571425836.12198857142854535.45306285714283234.78413714285711934.11521142857141333.446285714285732.77735999999998732.10843428571427431.43950857142855830.77058285714284530.10165714285713229.43273142857142228.76380571428570928.09488Health Care2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205048.80170000000000448.10453285714285747.4073657142857146.71019857142856346.01303142857141645.31586428571426944.61869714285712343.92152999999997643.22436285714282942.52719571428568241.83002857142854241.13286142857139540.43569428571424939.73852714285710239.04135999999995538.34419285714280837.64702571428566136.94985857142851436.25269142857136735.5555242857142234.85835714285707434.16118999999992733.46402285714278732.7668557142856432.06968857142849331.37252142857134630.67535428571420329.9781871428570629.281020000000002Real Estate2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205011.19250000000000111.03260714285714410.87271428571428810.71282142857143110.55292857142857510.39303571428571810.23314285714286110.0732500000000059.91335714285714799.75346428571429249.59357142857143519.43367857142857969.27378571428572239.11389285714286688.95400000000000958.7941071428571548.63421428571429678.47432142857144128.31442857142858398.15453571428572847.99464285714287127.83475000000001487.67485714285715847.5149642857143027.35507142857144567.19517857142858927.03528571428573196.87539285714287466.7154999999999996Information Technology2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205087.30150000000000486.05433571428571384.80717142857143683.5600071428571682.31284285714288381.06567857142859279.81851428571431578.57135000000003877.32418571428576176.07702142857148474.82985714285719373.58269285714291672.3355285714286471.08836428571436369.84120000000007268.59403571428579567.34687142857151866.09970714285724164.8525428571429563.60537857142867362.35821428571439661.11105000000011259.86388571428583658.61672142857155957.36955714285727556.12239285714299854.87522857142870753.62806428571442352.380899999999997Financials2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205049.042848.34218857142857247.64157714285713846.9409657142857146.24035428571427545.53974285714284844.83913142857141344.13851999999998643.43790857142855842.73729714285712342.03668571428569641.33607428571426140.63546285714283439.93485142857139939.23423999999997138.53362857142853737.83301714285710937.13240571428568236.43179428571424735.73118285714281935.03057142857138534.32995999999995733.62934857142852332.92873714285709532.22812571428566731.52751428571423330.82690285714280230.12629142857137129.42568Communication Services1097 658 2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205016.40520000000000116.17084000000000215.93648000000000115.70212000000000115.46776000000000215.23340000000000114.99904000000000314.76468000000000414.53032000000000314.29596000000000414.06160000000000413.82724000000000513.59288000000000513.35852000000000613.12416000000000712.88980000000000612.65544000000000812.42108000000000712.18672000000000811.95236000000000811.71800000000000911.48364000000000811.24928000000000911.01492000000001110.7805600000000110.54620000000001110.31184000000001110.0774800000000129.843119999999999STD DEV (%) of equity portfolio202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045204620472048204920500.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.136267614099973120.13626761409997312 Weighted Average Carbon Intensity of Portfolio (Tonnes of CO2e/$ Million Sales) Standard Deviation of Portfolio (%) Option #2 Year20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050 STD DEV (%) of equity portfolio13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.6%13.5%13.5%13.5%13.5%13.5%13.5%13.5%13.5%13.5%13.5%13.5% Carbon intensity contribution per sector Energy356347338329321312303294285277268259250241232224215206197188180171162153144136127118109 Utilities1071051029997949189868481787673706865626057545249464441383633 Materials18418017517116616115715214814313913413012512011611110710298938984797570666157 Industrials9290878583807876747169676562605855535149464442403735333028 Consumer Discretionary9999100101101102103104104105106106107108109109110111111112113114114115116116117118119 Consumer Staples4747484848494949505050515151525252535353545454555555565656 Health Care4949505050515151525252535353545454555556565657575758585859 Real Estate1111111112121212121212121212121212131313131313131313131313 Information Technology8788898990909192929394949596969797989999100101101102102103104104105 Financials4949505050515152525253535354545455555556565757575858585959 Communication Services1617171717171717171718181818181818181919191919191919192020 Total carbon intensity of equity portfolio1097108210661050103510191003987972956940925909893878862846830815799783768752736721705689673658 Portfolio Sector Allocation - Option 220222050 Energy5%2% Utilities3%1% Materials5%1% Industrials10%3% Consumer Discretionary12%14% Consumer Staples7%9% Health Care12%15% Real Estate3%3% Information Technology21%26% Financials14%17% Communication Services8%9% Carbon Intensity and Volatility Trajectory (Option 2) Energy20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050355.74459999999999346.93992114999998338.13524229999996329.33056344999994320.52588459999993311.72120574999991302.91652689999989294.11184804999994285.30716919999992276.5024903499999267.69781149999989258.89313264999987250.08845379999985241.28377494999984232.47909609999982223.67441724999981214.86973839999979206.0650595499998197.26038069999981188.45570184999983179.65102299999984170.84634414999985162.04166529999986153.23698644999988144.43230759999989135.6276287499999126.82294989999991118.01827104999992109.21359220000002Utilities20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050107.456104.796464102.13692899.47739199999999596.81785599999999294.15831999999998991.49878399999998688.83924799999998486.17971199999998183.52017599999997880.86063999999996178.20110399999995875.54156799999995572.88203199999995370.2224959999999567.56295999999994764.90342399999994462.24388799999994159.58435199999993956.92481599999993654.26527999999993351.60574399999993748.94620799999993546.28667199999993943.62713599999994340.96759999999994838.30806399999994535.64852799999994932.988992000000003Materials20222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050184.30079999999998179.73935519999998175.17791039999997170.61646559999997166.05502079999997161.49357599999996156.93213119999996152.37068639999995147.80924159999995143.24779679999995138.68635199999994134.12490719999994129.56346239999993125.00201759999995120.44057279999994115.87912799999994111.31768319999993106.75623839999993102.1947935999999397.63334879999992293.07190399999991888.51045919999991483.94901439999991179.38756959999990774.82612479999991770.26467999999991365.70323519999990961.14179039999990656.580345600000008Industrials2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205091.77639999999999589.504934187.23346820000000484.96200229999999582.69053639999999980.41907050000000478.14760459999999475.87613869999999873.60467280000000371.33320689999999369.06174099999999866.79027510000000264.51880920000000762.24734330000000459.97587740000000257.70441150000000655.43294560000000453.16147970000000150.89001380000000648.61854790000000346.34708200000000744.07561610000000541.80415020000000939.53268430000000737.26121840000000434.98975250000000932.71828660000000630.44682070000000728.175354800000001Consumer Discretionary2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205098.51500000000000199.22952612844642399.94405225689286100.65857838533928101.37310451378571102.08763064223213102.80215677067855103.51668289912499104.23120902757141104.94573515601783105.66026128446426106.37478741291069107.08931354135711107.80383966980354108.51836579824996109.23289192669638109.94741805514282110.66194418358924111.37647031203566112.09099644048209112.80552256892852113.52004869737495114.23457482582137114.94910095426779115.66362708271421116.37815321116065117.09267933960707117.8072054680535118.52173159649999Consumer Staples2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205046.82480000000000347.16441876931714547.50403753863427947.8436563079514248.18327507726856148.52289384658569648.86251261590283749.20213138521997149.54175015453711249.88136892385425450.22098769317138850.56060646248852950.9002252318056751.23984400112280551.57946277043994651.91908153975708752.25870030907422152.59831907839136352.93793784770849753.27755661702563853.6171753863427853.95679415565991454.29641292497705554.63603169429419654.97565046361133155.31526923292847255.65488800224560655.99450677156274756.334125540880002Health Care2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205048.80170000000000449.15565716147393349.50961432294785449.86357148442178350.21752864589571250.57148580736964850.92544296884358351.27940013031751951.63335729179144851.98731445326538452.3412716147393252.69522877621324953.04918593768718453.4031430991611253.75710026063505654.11105742210898554.46501458358292154.81897174505685755.17292890653078555.52688606800472155.88084322947865756.23480039095259356.58875755242652256.94271471390045757.29667187537439357.65062903684832258.00458619832225858.35854335979619458.712500521270002Real Estate2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205011.19250000000000111.2736788427410711.35485768548214111.43603652822321211.51721537096428311.59839421370535511.67957305644642611.76075189918749711.84193074192856611.92310958466963712.00428842741070812.0854672701517812.16664611289285112.24782495563392212.32900379837499112.41018264111606212.49136148385713312.57254032659820512.65371916933927612.73489801208034712.81607685482141812.89725569756249112.97843454030356413.05961338304463513.14079222578570813.22197106852678113.30314991126785213.38432875400892513.465507596749999Information Technology2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205087.30150000000000487.9346949733803688.56788994676071589.20108492014107189.83427989352142690.46747486690178291.10066984028213791.73386481366249392.36705978704284893.00025476042320393.63344973380357394.26664470718392994.89983968056428495.5330346539446496.16622962732499596.7994246007053597.43261957408570698.06581454746606198.69900952084641799.33220449422677299.965399467607142100.5985944409875101.23178941436785101.86498438774822102.49817936112858103.13137433450893103.76456930788929104.39776428126964105.03095925465Financials2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205049.042849.39850585202428649.75421170404857250.10991755607285850.46562340809714450.82132926012142351.1770351121457151.53274096416999651.88844681619428252.24415266821856852.59985852024285452.95556437226714153.31127022429142753.66697607631570654.02268192833999254.37838778036427854.73409363238856455.0897994844128555.44550533643713755.80121118846142356.15691704048570956.51262289250998856.86832874453427457.2240345965585657.57974044858284757.93544630060713358.29115215263141958.64685800465570559.002563856679998Communication Services1097 658 2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046204720482049205016.40520000000000116.52418638829000116.64317277658000216.76215916487000316.88114555316000717.00013194145000717.11911832974000817.23810471803000917.35709110632000917.4760774946100117.59506388290001417.71405027119001517.83303665948001517.95202304777001618.07100943606001718.18999582435001718.30898221264002118.42796860093002218.54695498922002318.66594137751002318.78492776580002418.90391415409002519.02290054238002919.14188693067002919.2608733189600319.37985970725003119.49884609554003119.61783248383003219.736818872119997STD DEV (%) of equity portfolio202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045204620472048204920500.136267614099973120.136212894612523120.136159548046630860.136107576016622070.136056980097662260.13600776182552260.135959922696351320.135913464166449980.135868387652055690.135824694529128180.135782386133143250.135741463758891180.135701928660281160.135663782050151560.135627025100085950.135591658940234890.135557684659144060.135525103303588110.135493915878410670.135464123346370760.135435726627995020.135408726601436460.135383124102339520.135358919923711240.135336114815799270.13531470948597590.13529470459862880.135276100775058330.13525889859338108 Weighted Average Carbon Intensity of Portfolio (Tonnes of CO2e/$ Million Sales) Standard Deviation of Portfolio (%)