Environment / Portfolio: Energy and climate change
Energy and climate change in the portfolio
The majority of Oakley’s emissions come from the firm’s portfolio companies in the form of financed emissions.
Financed emissions
Oakley started monitoring carbon emissions from its investments for the first time in 2023 in line with the Greenhouse Gas Protocol and the Partnership for Carbon Accounting Financials (PCAF) standard. In 2024 we continued to actively support portfolio companies to improve data collection and accuracy. Investments made in Q4 2024 or later were excluded from the financed emissions footprint due the limited engagement period and level of influence post-acquisition in line with industry guidance1. As a result, a total of 65% of portfolio companies calculated their carbon emissions through their own initiatives or Oakley’s recommended carbon accounting platform.
Our priority in 2024 was to demonstrate the strategic value of carbon accounting, not just for reporting, but for identifying operational inefficiencies, informing business decisions, and uncovering growth opportunities.
Please refer to the TCFD report for more information about Oakley's financed emissions.
2023
Scope 1:
9,755tCO2e
Scope 2:
8,115tCO2e
Total:
17,870tCO2e
2024
Scope 1:
20,192tCO2e
Scope 2:
26,296tCO2e
Total:
46,489tCO2e
Weighted average carbon intensity
Scope 1+2
45tCO2e/€M
Total energy consumption
Renewable energy 26% of total energy consumption
231,744MWh
Climate risk and opportunity
At Oakley, we see climate change as both a systemic risk and source of opportunity. In a rapidly evolving global landscape, we seek to help our portfolio identify long-term value creation opportunities through sustainability initiatives and encourage more resilient business models and supply chains.
This year, we published Oakley’s second TCFD report. In Q1 of 2025, we undertook a climate risk assessment and scenario analysis for our 2024 portfolio. This analysis assessed the ways in which climate change could impact the portfolio through both physical and transition risks as well as potential opportunities under three scenarios across 2030-, 2024- and 2050-time horizons.
Please refer to the TCFD report for more information on Oakley's financed emissions and its scenario analysis methodology.
2°C
Orderly scenario
Assumes global temperature increase stabilises to 1.5°C or 2°C by 2100 as a result of the implementation of robust climate policies.
4°C
Hothouse world scenario
Assumes global temperature rise to 3°C or 4°C given limited global action taken to mitigate climate change.