We are invested in 8 of the 11 S&P 500 sectors (we do not currently have exposure to Energy, Materials or Real Estate). Because of our emphasis on valuation our portfolio has a weighted average P/E less than 13x forward earnings and 10x EV/EBITDA, 20% and 30% discounts respectively to the S&P 500 Index average valuation. Each of these companies has a profitable long-term strategy and is well-prepared for the impact of climate change.
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