Impact Report 2019


English / German

The Carnot Efficient Energy Fund is an impact investment fund. It invests in listed companies that develop and produce energy efficient products and technologies, that reach people all around the world. In addition to the financial return, the fund investor, as co-owner of the portfolio companies, has a substantial positive effect in terms of the UN's sustainable development goals. This impact report aims to illustrate and quantify this effect. Carnot Capital's full impact investing approach also relies on engagement to map, measure and create impact. It is detailed in the research paper titled "Investing into Energy and Resource Efficiency with a Measurable Impact", which can be found here and on Carnot Capital’s website.

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Carnot Impact Investing uses a Sustainable Development Goals (SDG) mapping to document the sustainability of external effects for selected portfolio investments in qualitative and quantitative reporting.

Reduction in the consumption of energy (= Energy efficiency)

7. Affordable and clean energy

8. Decent work and economic growth

9. Industry, Innovation and Infrastructure

11. Sustainable cities and communities

13. Climate action

For Carnot, financial return is the primary goal and a measurable part of fund performance. Pure environmental or social objectives at the expense of the financial return are excluded. All of Carnot's selected investments will continue to be subjected to a fundamental value analysis using financial measures.