Weighted Average Carbon Intensity (WACI) is a metric investors use to assess the carbon footprint of their investment portfolios. It calculates the Scope 1 and Scope 2 emissions of portfolio companies, weighted by the proportion of investment in each. Investors utilise WACI to evaluate climate risk, benchmark portfolio performance, and inform engagement with companies to encourage decarbonisation. This provides a clear indication of a portfolio's exposure to carbon intensive assets.