Earlier this year QUAERO CAPITAL became a signatory to the Carbon Disclosure Project (CDP), an organization that campaigns for better disclosure of environmental performance data from companies, cities, states and regions. It aims to make environmental reporting and risk management a business norm, and drive disclosure, insight and action towards a sustainable economy.
This year we took part of CDP’s annual Non-Disclosure Campaign with 87 other investors, targeting 707 companies with US$15.3 trillion market cap across 46 countries. The campaign targets companies with insufficient transparency regarding their environmental impact, encouraging them to disclose more information through the CDP platform. These companies have been selected due to low transparency relative to their estimated high carbon footprint. American companies make up a significant proportion of the list with 139 companies, followed by 121 Australian, 56 Chinese, 35 French, 18 German, and 13 Swiss companies. The list includes Exxon Mobile, BP, Chevron, Amazon, Volvo, Alibaba.
We took the role of lead investor for seven companies held by the Small Cap funds and three companies held by the Infrastructure fund, as well as adding our signature for an additional 11 companies across other QUAERO CAPITAL funds. We think this process of disclosure is essential for investors, as the information we’re encouraging companies to disclose will enable better evaluation and assessment of how these manage their ESG risks and opportunities.
We are increasing our engagement efforts at QUAERO CAPITAL, both directly and through campaigns such as that of the CDP. The results are so far positive; six of the companies we wrote to submitted a response to CDP, and three more are planning to report next year.
The information contained herein is provided for discussion purposes only, is not complete and is not, and may not be relied on in any manner as, legal, tax or investment advice or as an offer to sell or a solicitation of an offer to purchase an interest in securities. QUAERO CAPITAL believes the information contained herein to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions.
The estimates, investment strategies, and views expressed herein are based upon current market conditions and/or data and information provided by third parties and are subject to change without notice. There is no obligation to update, modify or amend these materials or to otherwise notify a reader in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
These materials include certain opinions, statements and projections provided by Quaero capital with respect to the anticipated future performance of certain asset classes. Such opinions, statements and projections reflect significant assumptions and subjective judgments by QUAERO CAPITAL’s management concerning anticipated future events. these forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond QUAERO CAPITAL’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. The data as presented has not been reviewed or approved by any party other than QUAERO CAPITAL.
Nothing contained herein shall constitute any representation or warranty as to future performance of any financial instrument, currency rate or other market or economic measure. Opinions expressed herein may not be shared by all employees of QUAERO CAPITAL and are subject to change without notice.