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Understanding Implied Temperature Rise (ITR): A Key Climate-Related Metric

Climate change is one of the most pressing issues humanity has ever faced, and its impact will be felt far and wide in the investment world. As investors seek to make informed decisions about their portfolios, it's essential to understand key metrics that can provide valuable insights into a fund's environmental, social, and governance (ESG) characteristics.

One such metric is Implied Temperature Rise (ITR), which measures the estimated global temperature increase resulting from greenhouse gas emissions. In this article, we'll delve into what ITR means, how it's calculated, and the assumptions and limitations that come with this forward-looking climate-related metric.

What does Implied Temperature Rise (ITR) measure?

ITR is a key performance indicator used to assess a fund's carbon footprint and its contribution to global warming. It represents the estimated increase in global temperature rise over a specific period, typically 20-30 years, based on current greenhouse gas emissions.

How is ITR calculated?

The calculation of ITR involves several steps. First, an estimate of the total greenhouse gas emissions from a fund's portfolio is made. This includes emissions from investments such as stocks, bonds, and other securities. Next, these emissions are converted into carbon dioxide equivalent (CO2e) units to standardize the measurement. Finally, the CO2e emissions are used to calculate the ITR using a complex algorithm that takes into account factors such as the fund's portfolio composition and the projected rate of global warming.

Assumptions and limitations

While ITR provides valuable insights into a fund's carbon footprint, it's essential to understand its assumptions and limitations. For instance, ITR calculations rely on estimates of future greenhouse gas emissions, which can be subject to uncertainty. Additionally, ITR only measures the temperature rise resulting from direct emissions and does not account for indirect emissions or other climate-related factors.

In conclusion, Implied Temperature Rise (ITR) is a vital metric that helps investors assess a fund's environmental impact on global warming. By understanding how ITR is calculated and its limitations, investors can make more informed decisions about their portfolios and contribute to a more sustainable future.

For more information regarding the fund's investment strategy, please see the fund's prospectus. The metrics do not change the fund's investment objective or constrain the fund's investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. This fund does not seek to follow a sustainable, impact or ESG investment strategy. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. They are provided for transparency and for information purposes only.

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Owner of record to collect nvda dividend