Appendices – continued Appendix 3: Carbon metric equations Total Financed Carbon Emissions in tonnes CO2e: i current value of investment in entity X entity’s GHG emissions ∑ n ( Entity’s Enterprise Value including cash ) Financed Carbon Emissions per million dollars invested metric (may be shown in other currencies too): i current value of investment in entity X entity’s GHG emissions ∑ n ( Entity’s Enterprise Value including cash ) current portfolio value ($m) Financed Carbon Intensity per million dollars revenue metric (may be shown in other currencies too): i current value of investment in entity X entity’s GHG emissions ∑ n ( Entity’s Enterprise Value including cash ) i current value of investment in entity X entity’s revenue ∑ n ( Entity’s Enterprise Value including cash ) Weighted average carbon intensity metric (where normalisation factor is entity’s revenues, but other normalisation factors can be used): i current value of investment in entity entity’s GHG emissions X ∑( current portfolio value normalisation factor ) n