Financial Services / Banking

Scottish Mortgage Investment Trust sustainability score: 26/100

26/100
Significant gaps
Joint 51st of 61 in Financial Services / Banking

Better than 15% of Financial Services / Banking

Below expectations starts at 31. The highest score on SINK is 71.

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About Scottish Mortgage Investment Trust

Scottish Mortgage Investment Trust is a UK-listed closed-end investment company founded in 1909 and headquartered in Edinburgh. It manages a globally diversified portfolio of ~100 public and private growth companies across technology, healthcare, and consumer sectors.

More about Scottish Mortgage Investment Trust

The Trust is externally managed by Baillie Gifford and has no employees or direct operations.

Head office United KingdomStaff ~0 (externally managed; no direct employees)Revenue ~£14–15B AUM (investment trust, not a revenue-generating company in the conventional sense)Website ↗

Read Scottish Mortgage Investment Trust's own report ↗

Our verdict

Scottish Mortgage is a listed investment trust with negligible operational footprint but material financed emissions exposure through ~100 portfolio companies. It publishes partial portfolio-level climate data via TCFD but has no entity-specific emissions targets. Its manager withdrew from net-zero initiatives in 2024, and the Trust explicitly states ESG is secondary to returns.

Scottish Mortgage Investment Trust scores 26/100 (Significant gaps) on SINK's independent climate assessment, scored from public data only. Scores are free. Nobody can pay to change a score, speed it up or hide it. Last verified August 2026.

That places Scottish Mortgage Investment Trust joint 847th of 1,023 companies scored, and joint 51st of 61 in Financial Services / Banking.

The ten questions

What is Scottish Mortgage Investment Trust doing well, and where does it fall short?

Strongest on Controversies & Red Flags and Water Impact (5/10, 4/10). Weakest on Carbon Footprint: Operations and Emissions Trajectory (2/10, 2/10).

What's missing

Where Scottish Mortgage Investment Trust lost points

For each question that lost points, the evidence our public rubric looks for that we didn't find.

What would raise this score

  • Emissions from its own operationsPublish emissions figures for its own operations, even an estimate from energy bills.
  • Whether its emissions are fallingShow its emissions are falling, even from energy bills or mileage.
  • Its climate targetsSet specific targets with dates.

Every question that lost points

  • Emissions from its own operations2/10No emissions figures for its own operations, not even an estimate from energy bills.
  • Emissions from its supply chain3/10No assessment of where its supply-chain emissions come from.
  • Whether its emissions are falling2/10No evidence its emissions are falling, not even from energy bills or mileage.
  • How clean its energy is3/10No renewable energy tariff or major efficiency investment shown.
  • Its effect on nature3/10No assessment of its effect on nature, and no basic environmental policy.
  • How it uses materials and handles waste3/10No active waste reduction, reuse or repair shown.
  • Its effect on water4/10No measured water footprint with reduction targets.
  • Its climate targets2/10No specific targets with dates.
  • How openly it reports4/10No dedicated sustainability role, board oversight or public report.
  • Its record on controversies5/10Points deducted for controversies or its business model. The finding is under question 10.

A score changes when the evidence does. We use new published evidence at the next rescore. Anyone can send us new evidence, free. How to send it.

The calculation

How is Scottish Mortgage Investment Trust's SINK score calculated?

Same ten questions for every company. No private weighting.

SINK = (0.3 × Base + 0.7 × Performance) × Scale
Industry base impact
Financial Services / Banking sector ceiling.
50 / 100
Performance score
Sum of the ten questions, each scored 0 to 10.
31 / 100
Raw score
Weighted average before scale penalty.
(0.3 × 50) + (0.7 × 31) = 36.7
Scale penalty
Multiplier based on total emissions. Bigger polluters lose more.
× 0.7
Financed emissions
Banks and insurers that don't publish the emissions of the lending, investment or insurance they finance get a size multiplier of no more than 0.70×. This company publishes no such figure, so the 0.70× floor applies.
Not published (0.70× floor)
Final score
Rounded. Significant gaps.
26 / 100
How this score has moved

Has Scottish Mortgage Investment Trust's score changed?

Scottish Mortgage Investment Trust's score has been reviewed 2 times and currently stands where it started, at 26.

02550751002630 August 2026267 November 2026
  1. 26 → 267 November 2026

    Correction, 7 November 2026: removed an unsourced emissions figure. Score unchanged.

  2. Scored 2630 August 2026

    Initial public score 26 (publish-draft)

Where the evidence comes from

What evidence is Scottish Mortgage Investment Trust's score based on?

8 sources used in this assessment. All publicly available. Each row shows which of the ten questions it informed.

25% of them were published by Scottish Mortgage Investment Trust itself; the rest come from independent sources.

[1]Independent source
AIC ESG Company Data — Scottish Mortgage Investment Trust

“the Company being an externally-managed investment company with no employees”

Ongoing
Q1Q4Q5Q6Q9Q10
View →
[2]Public record
Companies House — Scottish Mortgage Investment Trust (SC007058)

“SCOTTISH MORTGAGE INVESTMENT TRUST PLC - Free company information from Companies House”

Ongoing
Q1
View →
[3]Self-reported
Scottish Mortgage Investment Trust TCFD Climate Report

“Material scope 3 emissions are very likely to be higher for the 2023 reporting”

2024
Q2Q3Q4Q7Q9
View →
[4]Independent source
Hargreaves Lansdown — Scottish Mortgage Investment Trust Research Update

“Baillie Gifford courted controversy in 2024 when it left the Net Zero Asset Managers' Initiative”

2025
Q3Q10
View →
[5]Public record
Investment Week — Baillie Gifford Withdraws Climate Action 100+ and NZAM

“Baillie Gifford has left the Climate Action 100+ group and Net Zero Asset Managers initiative”

2024
Q8Q10
View →
[6]Independent source
Brunel Pension Partnership — Biodiversity & Nature

“Baillie Gifford are integrating their screening tool into their firmwide Climate Audit tool”

Ongoing
Q5
View →
[7]Self-reported
Scottish Mortgage Investment Trust Annual Report 2025

“This strategic report, which includes pages 4 to 56, has been prepared in accordance with the Companies Act 2006”

2025
Q6
View →
[8]Public record
Portfolio Adviser — NZAM Relaunch and Asset Manager Commitments

“Baillie Gifford, which left NZAM in 2024... also has not rejoined”

2026
Q8
View →

If you believe a source has been misread or a newer version exists, submit a challenge.

For Scottish Mortgage Investment Trust

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    Scottish Mortgage Investment Trust: SINK sustainability score 26.

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Scottish Mortgage Investment Trust in context

How does Scottish Mortgage Investment Trust compare with other financial services / banking companies?

Where Scottish Mortgage Investment Trust sits among financial services / banking peers.

Among the 61 major financial services / banking brands we've scored, Scottish Mortgage Investment Trust is tied =51st of 61, with 1 other.

=51/61
Scottish Mortgage Investment Trust's rank
36
Industry average
20
Industry low
65
Industry high
See all 61 in Financial Services / Banking →
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