When capturing impact for fixed income securities, we employ a proprietary quantitative and qualitative
approach to understand what each bond is financing and to report on its multiple positive-based outcomes.
Quantitative data can include the number of jobs created or the number of affordable housing
units as well as dollar amounts invested in impact themes. Qualitative research is the “story,” so to speak,
which includes detailed explanations of what the bond is financing. This data and research is primarily
focused on four subsectors of the bond market – single family agency mortgage-backed securities (MBS),
agency commercial mortgage-backed securities (CMBS), taxable municipals, and asset-backed securities
(ABS) – where we can identify, record, and track the environmental and social activity that each transaction