Climate Change Data

Makena Capital Management, LLC

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Carbon Tracking and Reduction
  • Diversity, Equity, and Inclusion

Environmental Achievements

  • Achieved net-zero emissions at the business level by acquiring 1,000 tons of carbon removal credits through the Carbon Direct Platform in 2022. In 2023, redirected equivalent sum to POST's Redwoods Program for carbon removal and ecosystem restoration.
  • Liquid portfolio generates ~36 tons of CO2e in terms of Scope 1 + 2 emissions for every $1 million invested, 43% lower than the blended benchmark.

Social Achievements

  • Established a DEI Committee in June 2021 to pursue strategic and tactical initiatives to increase and expand DEI across the firm, portfolio, and community.
  • Significant progress in expanding diversity in recruiting efforts, with 54% of recent hires being female and 59% ethnically diverse.
  • Increased female employees to 48% and non-white employees to 42% at year-end 2023.

Governance Achievements

  • Integrated DEI into all stages of the investment process, including initial screening, diligence, and underwriting.
  • Consistently engaged in partnerships and networking groups (UN PRI, Ceres, MSCI ESG Research) to guide frameworks and refine sustainability approach.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Assess the Scope 1 & 2 carbon emissions of our portfolio as a baseline and outline areas for potential improvement across managers (2024).

Environmental Challenges

  • Historically, the availability of detailed and accurate data has been the primary impediment to estimating portfolio-level carbon emissions.
  • Transparency around carbon accounting and offsets has long been a challenge across the industry.
Mitigation Strategies
  • Engaged MSCI to help measure Scope 1 and 2 carbon emissions in the Public Equity portfolio.
  • Working with peers and across working groups to continually advance measurement capabilities.
  • Leveraged MSCI ESG Research platform to track portfolio’s financed Scope 1, 2, and 3 carbon emissions.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Investing in the energy transition

Reporting Standards

Frameworks Used: UN PRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed