The change in water usage by companies invested in by the fund is calculated by comparing companies’ water usage from the latest two reporting years (e.g. 2020 and 2021). Water recycled by companies invested in the fund is calculated based on the amount of water recycled by companies in the fund in the previous reporting year (e.g. 2021).

The water related data is obtained from Bloomberg. Coverage of water metric calculations varies depending on data availability. In the case of the Pictet-Water fund, around 20-25% of the companies in the fund disclose total water use and approximately 10-15% of companies report the amount of water recycled.

The total annual change in water usage or water recycled by companies in the fund might increase or decrease depending on the changes in the fund holdings. Usually companies aim to reduce the amount of water used and increase the amount of water recycled but changes in fund holdings could also lead to an increase in the water usage of fund companies compared to previous year.

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