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28 January 2021 General

In order to gain a proper understanding of the climate impact of the investments of financial institutions, it is important to consider inflation and exchange rate fluctuations. When one of the main indicators of climate impact is adjusted for these effects, the reduction in the relative CO2 emissions of the investment portfolios of Dutch insurers and pension funds for the period 2012-2019 is no less than a third lower than without adjustments for these effects. These findings follow from a study conducted by De Nederlandsche Bank (DNB).

Misleading Footprints Inflation and exchange rate effects in relative carbon disclosure metrics