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Bank of America Global Wealth and Investment Management

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

Implementation processes

FI 01. Incorporation strategies applied

Indicate (1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and (2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.
SSA
65 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
35 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (financial)
75 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
25 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (non-financial)
91 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
9 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

IP/MAA:  MAA offers negative screening capability for corporate fixed income strategies at the direction/request of the client.  Screening alone accounts for 100% of IP/MAA’s approach.

 

CIO:  the following description applies only to the CIO Socially Innovative Fixed Income Portfolio. CIOCIO utilizes a proprietary social innovation screening process, by which fixed income investment universes  are screened across data points related to ESG issues. CIOCIO segments these data points into three categories: environmental stewardship, human capital engagement, and corporate governance. The social innovation screening process serves to narrow down the investment universe to only those issuers that exemplify top stewards of the aforementioned categories. The screening process is proprietary and dynamic which allows the portfolio managers to customize for our clients based on specific ESG concerns. 

01.3. Additional information [Optional].


FI 02. ESG issues and issuer research (Private)


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]

IP/MAA: For the discretionary investment management in Merrill Lynch, Merrill Private Wealth Management, and the Private Bank, MAA uses screens provided by a third party provider to negatively screen accounts. These research screens encompass religious, industry, country, sector, and individual company screens. At present time, clients and/or beneficiaries are not notified when changes to the underlying screened components are adjusted. 

CIO:  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 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. 


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