Julius Baer considers investment grade money market instruments a greenfield for Responsible Investment, because the ability to pay back the credit is the utmost financially material factor for investment grade instruments. For corporate money market instruments with high yield credit rating, the issuers' MSCI ESG ratings are used to determine if an instrument is investable for Julius Baer. All the instruments with issuer ESG rating above CCC are investable. If the issuer's ESG rating is CCC, the responsible portfolio manager has to go through the Conflict Resolution Committee to assess whether the issuer is investable based on ESG risks analysis. If the issuer does not have an ESG rating, an internal ESG rating process must be triggered by the respective portfolio manager in order to obtain an ESG rating and identify if the Conflict Resolution Committee approval is needed.