AIMCo-financed carbon emissions down 9% in 2021
The Alberta Investment Management Corp.’s total financed carbon dioxide emissions fell nine per cent in 2021, according to its annual climate disclosure. According to figures released by the investment organization, its portfolio financed the release of about 424,300 tonnes of carbon dioxide, down from about 466,300 tonnes the previous year. For each million dollars invested by the AIMCo, it estimates it has released the equivalent of about 10 tonnes of carbon dioxide. One area of the portfolio that isn’t covered by the calculations are carbon emissions attributable to sovereign bond investments. Separately, the AIMCo calculated its sovereign bond investments have financed about 3,675,387 million tonnes of carbon dioxide emissions during the year - or about 309 tonnes per million dollars invested. The investment organization also acknowledged that the figure isn’t exact. “When reporting emissions associated with sovereign bonds beyond the emissions of the governmental organization only, double counting occurs with Scope 1 and 2 emissions generated by other sectors.”