We assess companies and not the financial instrument in itself. As such, our methodology for fixed income is the same as equity.
Our ESG analysis is based on a combined analysis of the ESG risks the company faces (the "Responsibility" rating) and the sustainable investment opportunities it is positioned to tap into (the exposure to the sustainable economic transition).
Our "Responsibility" rating is built on the assessment of 4 pillars: governance, environment, labour and society. It results in a rating out of 10 and a recommendation on the level of responsibility risk. Our "Sustainable Transition" assessment is based on the company's exposure to the sustainable transition themes that we have identified in the 4 transitions we follow (demographic, medical, economic, lifestyle, ecological).
We also exclude from our SRI funds companies facing high level of controversies, that we consider as being in breach with international norms (UNGC, OECD, ILO, UNGP).
Then, we do have a strict exclusion of controversial weapons for every funds; and we apply sector/activity exclusions for SRI strategies (tobacco, coal, unconventional oil and gas, defence).