Along with business model, industry structure, company financials, management and valuation, ESG makes up one of the six pillars of research framework that Devon incorporates into its investment decisions. We allocate companies, within our investable universe, scores across their Environmental, Social, and Governance performance. Additionally, we will supplement our ESG views with ESG research provided by MSCI. Since the inception of the firm, ESG has always been incorporated into our investment process.