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Bank of America Global Wealth and Investment Management

PRI reporting framework 2018

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

MSG/MAA:  To negatively screen accounts MAA uses screens from a third party provider, which encompass religious, industry, country, sector, and individual company screens.

Screened by

Description

U.S. Trust:  Screen tests the companies broadly against the key characteristics that are designed to identify corporations that achieve positive social impact through progressive policies believed to be creators of value.

04.2. Describe how the screening criteria are established, how often the criteria are reviewed and how you notify clients and/or beneficiaries when changes are made.

MSG/MAA:  We have a licensing agreement with a third party provider and our clients can leverage any of the available negative screens.  We can accommodate restrictions of up to 30% of an account and prorate cash proceeds of these restrictions across the rest of the model.  We currently don't disclose criteria used in our screens nor are clients informed when the screen is changed.

U.S. Trust:  The Social Innovation screen seeks to find companies that are best-in-class across the three focus areas within the screening process: Environmental Stewardship, Human Capital Engagement, and Corporate Citizenship. We also employ a Performance Review which is designed to measure how effectively corporations implement the policies and procedures described and evaluated in the previous step, and whether the company capitalizes on external incentives for good corporate behavior. We believe the the 400 data points used in the screening process identify companies that are having positive social impact while simulataneously creating economic advantages for their businesses. The scoring process takes place after each quarter-end and the portfolios are adjusted accordingly. Given U.S. Trust's discretionary approach, changes are implemented and clients may speak with their portfolio managers to be made aware of any changes in a client's portfolio. 


LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]

MSG/MAA:  Box 2 above is checked with respect to MAA activities.

U.S. Trust:  Boxes 1, 3, 5, and 6 are checked with respect to US Trust Activities.


LEI 06. Processes to ensure fund criteria are not breached (Private)


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