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Bank of America Global Wealth and Investment Management

PRI reporting framework 2020

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

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

Screened by

Description

CIO:  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 you notify clients and/or beneficiaries when changes are made to your screening criteria.

IP/MAA:  We have a licensing agreement with a third party provider and our clients can leverage any of the 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. 

CIO:  As ESG quality and data improves and evolves with time, our team continues to develop scoring methodology to encompass this data. We keep clients apprised of improvements through ongoing conversations. 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 Governance. 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 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 CIO’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 ESG 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.

05.5. Additional information. [Optional]

IP/MAA:  Boxes 1 and 5 in LEI 05.1 is checked with respect to MAA activities.

CIO: All other responses in LEI 05.1 to LEI 05.4 pertain solely to the CIO Socially Innovative Investing suite.


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


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