More than just financial
Companies selected for more than their financial value
Responsible investment combines financial analysis with an assessment of a company's environmental, social and governance (ESG) practices, ultimately contributing to more informed investment decisions. ESG criteria provide a more complete picture of a company's long-term growth prospects and their potential to create value for investors.
Environmental criteria include biodiversity, climate change and water management.
Example: companies committed to reducing their greenhouse gas emissions.
Social criteria include human rights, social justice, and labour practices.
Example: companies committed to providing fair working conditions.
Corporate governance criteria include board diversity and independence, executive compensation, and shareholder rights.
Example: companies committed to fair executive compensation practices.
Overview of carbon intensity metrics
Carbon intensity refers to a fund's exposure to carbon-intensive companies. It can be used to evaluate the fund's exposure to transitional climate risks—such as those related to changes in regulations, consumer behaviours and attitudes, technological
progress, and the market. As a result, a fund that has a lower carbon intensity than its benchmark is less exposed to carbon-intensive companies and the associated risks.
As the world heads toward a more carbon-lean economy, the Sustainable Funds select companies that emit less greenhouse gas than comparable businesses.
Get a Desjardins Sustainable Fund
Learn more about responsible investing
View the Annual Report on Responsible Investment (PDF, 2.80 MB)
Sustainable Portfolios invest in all Desjardins Sustainable Funds, with the exception of the Sustainable 100% Equity Portfolio, which invests solely in Desjardins Sustainable Funds that are made up of equities, such as the
Desjardins Sustainable Canadian Equity Fund, the Desjardins Sustainable American Equity Fund, the Desjardins Sustainable International Equity Fund, the Desjardins Sustainable Diversity Fund, the Desjardins Sustainable Environment Fund, the Desjardins
Sustainable Positive Change Fund, the Desjardins Sustainable Cleantech Fund and the Desjardins Sustainable Emerging Markets Equity Fund.
Note: The carbon intensity of the Desjardins Sustainable Global Bond Fund is not currently available.
Learn more about calculating the CO2 emissions of a car with
annual kilometrage of 20,000 km
Source: Mirova SA. The information mentioned above belongs to its respective owners, Mirova and its data providers. The figures provided are from 2022, 2020 and, to a lesser degree, 2019. The contributions are
based on the annual impact of the assets held in the Desjardins Sustainable Environmental Bond Fund portfolio on December 31, 2022. Mirova will not be held liable for any financial loss or decision made or not made on the basis of the information
disclosed or for any use that a third party might make of this information. This information is based on present circumstances, intentions and beliefs and may require subsequent modifications. Mirova reserves the right to modify it at any time without
notice. No responsibility or liability is accepted by Mirova towards any person for errors, misstatements or omissions in this document or for the adequacy, accuracy, completeness or reasonableness of other such information or documents. Mirova does not
guarantee the accuracy, adequacy or completeness of information obtained from external sources included in this document. Difference in data between 2021 and 2022 can be explained by an update in the data provider's methodology to improve precision of
avoided emissions calculation as well as increased bond coverage.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable Canadian Equity Income Fund invests in
compared to companies in the benchmark, the S&P/TSX Composite Dividend Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a
specific market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further
distribution. This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may
not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants
or guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable Canadian Equity Fund invests in
compared to companies in the benchmark, the S&P/TSX Composite Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific
market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further distribution.
This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may not be
reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or
guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.
The S&P/TSX Composite Index, the S&P/TSX Venture Composite Index and all other S&P/TSX indices referred to herein are products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and of TSX Inc.
("TSX"). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and TSX® is a registered trademark of TSX. SPDJI,
Dow Jones, S&P, their respective affiliates and TSX do not sponsor, endorse, sell or promote any products based on the S&P/TSX indices and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they
have any liability for any errors, omissions or interruptions of the S&P/TSX indices or any data related there to.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable American Equity Fund invests in
compared to companies in the benchmark, the S&P Composite 1500 Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific
market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further distribution.
This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may not be
reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or
guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable American Small Cap Equity Fund invests
in compared to companies in the benchmark, the MSCI USA Small Cap Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific
market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further distribution.
This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may not be
reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or
guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable Low Volatility Global Equity Fund
invests in compared to companies in the benchmark, the MSCI World Minimum Volatility Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the
performance of a specific market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission;
no further distribution. This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an
investor, may not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG
Parties warrants or guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the
information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance,
analysis, forecast or prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including
lost profits) even if notified of the possibility of such damages.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable International Equity Fund invests in
compared to companies in the benchmark, the MSCI EAFE Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific market and
serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further distribution. This report
contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may not be reproduced or re
disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or guarantees the
originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to constitute
investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction.
None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of
the possibility of such damages.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable Global Dividend Fund invests in
compared to companies in the benchmark, the MSCI World Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific market and
serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further distribution. This report
contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may not be reproduced or re
disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or guarantees the
originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to constitute
investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction.
None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of
the possibility of such damages.
The percentage of women on the Boards of the companies included in the Desjardins Sustainable Diversity Fund managed by Lazard is 41%, compared to 30% for companies in the Fund’s benchmark, the MSCI All Country World Index.
A benchmark index is an
indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific market and serves as a comparison with the changes in the performance of an investment fund.
The percentage of women on the executive committees of the companies included in the Desjardins Sustainable Diversity Fund managed by Lazard is 33%, compared to 22% for companies in the Fund’s benchmark, the MSCI All Country World Index.
A benchmark
index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a specific market and serves as a comparison with the changes in the performance of an investment
fund.
Source: Lazard Asset Management LLC. Results as at December 31, 2022, calculated using simple averages. The information is provided in response to a specific request from Desjardins and remains the property of Lazard Asset Management LLC
(Lazard). Reproduced with permission by Desjardins; no further distribution. The information is for Desjardins use only and may not be reproduced or distributed in any form. Certain information included herein is derived by Lazard in part from an MSCI
index or indices (the “Index Data”). However, MSCI has not reviewed this product or report, and does not endorse or express any opinion regarding this product or report or any analysis or other information contained herein or the author or source of any
such information or analysis. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any Index Data or data derived therefrom. Information and opinions presented have been obtained or derived
from sources believed by Lazard to be reliable. Lazard makes no representation as to their accuracy or completeness. All opinions expressed herein are as of the date of this presentation and are subject to change. This material is for informational
purposes only. It is not intended to and does not constitute financial advice, fund management services, an offer of financial products or an offer to enter into any contract or investment agreement in respect of any product offered by Lazard and shall
not be considered as an offer or solicitation with respect to any product, security or service in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or unauthorized or otherwise restricted or prohibited.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable Global Opportunities Fund invests in
compared to organizations in the benchmark, the MSCI All Country World Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a
specific market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further
distribution. This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may
not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants
or guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.
Learn more about calculating the CO2 emissions of a car with annual kilometrage of 20,000 km
Source: Baillie Gifford Overseas Limited. The contributions are based on the annual impact of the assets held in the Desjardins Sustainable Positive Change Fund portfolio on December 31, 2022. For those holdings that have been in the portfolio for less than the full year, no attempt has been made to pro-rate the contribution. However, as we have a time horizon and aim to invest in our holdings for five to ten years or longer, portfolio turnover will be low. Headline Impact Data, while providing an indication of the impact of the portfolio, are vulnerable to inconsistencies. This may be due to underlying assumptions. How companies measure and report is not always uniform and, in some cases, requires conversion to allow for aggregation across the portfolio. Where information is not available, we do not include a company’s contribution within the Headline Impact Data snapshot. In time we hope to be able to encourage companies to increase their reporting. Data for CO2e saved is based on company reporting which is either in CO2 or CO2e; the aggregate data is presented as CO2e as this is the most conservative approach. Data related to money spent on healthcare services and prevention and disease is presented to date, covering multiple years.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable International Small Cap Equity Fund
invests in compared to companies in the benchmark, the MSCI ACWI ex USA Small Cap Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance
of a specific market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further
distribution. This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may
not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants
or guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.
Learn more about calculating the CO2 emissions of a car with annual kilometrage of 20,000 km
Learn more about annual waste production per Canadian (approximately 694 kg on
average)
Source: Impax Asset Management Limited. The strategy’s past performance does not guarantee future performance. Impact of CA$10 million invested in the strategy for one year. Based on the most recently published annual environmental data
for Desjardins Sustainable Cleantech Fund holdings on December 31, 2022. The impact methodology used by Impax is based on the company’s net value.
The information in this document is provided solely for illustration and discussion purposes and may be
changed without warning. The information and any opinions contained in this document have been compiled in good faith, but no representation or warranty, express or implied, is made to their accuracy, completeness or correctness. Impax, its officers,
employees, representatives and agents expressly advise that they shall not be liable in any respect whatsoever for any loss or damage, whether direct, indirect, consequential or otherwise however arising (whether in negligence or otherwise) out of or in
connection with the contents of or any omissions from this document. This document does not constitute an offer to sell, purchase, subscribe for or otherwise invest in units or shares of any fund managed by Impax.
Carbon intensity measures the quantity of greenhouse gases (GHG) emitted by an organization in relation to its revenue (tons of CO2 equivalent/revenue). The GHG emissions considered are the organization’s direct emissions (scope 1), that is, those under
its control (for example, emissions resulting from its industrial processes). Indirect GHG emissions resulting from the production and distribution of electricity, heat and steam (scope 2) are also taken into consideration. Carbon intensity can be used
to evaluate organizations that stand out from their peers in terms of GHG emissions in their internal activities.
Estimated carbon intensity on December 31, 2022, of organizations that the Desjardins Sustainable Emerging Markets Equity Fund invests
in compared to companies in the benchmark, the MSCI Emerging Markets Index.
A benchmark index is an indicator that measures the changes in a set of securities from issuers with shared characteristics. The index can assess the performance of a
specific market and serves as a comparison with the changes in the performance of an investment fund.
Source: Results as at December 31, 2022, calculated using data from MSCI ESG ©2023 MSCI ESG Research LLC. Reproduced by permission; no further
distribution. This report contains certain information (the “Information”) sourced from MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”). The Information may only be used for your individual use as an investor, may
not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants
or guarantees the originality, accuracy and/or completeness, of any data herein and they expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the information is intended to
constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or
prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if
notified of the possibility of such damages.