The framework which we have in place has been devised to provide accountability and transparency to the Bank of America ESG Committee organization.
Environmental, Social and Governance (ESG) awareness and concern is embedded in our values and informs how we conduct business, develop products and services and deliver on our goals and commitments. ESG is integrated across six core areas, where we continue to focus our resources – 1) responsible business practices; 2) strong economies; 3) environmental sustainability; 4) leadership and service; 5) arts and culture; and 6) diversity and inclusion. Prior to 2016, this was known as Corporate Social Responsibility under the Bank of America Global Corporate Social Responsibility.
The Sustainable and Impact Investing Strategy Working Group is organized across business heads who are tasked with driving strategy for internal sales, external marketing and public outreach; assets under management reporting and internal growth revenue metrics; and general program management and coordination across groups.
The purpose of the Investment Solutions Group Investment Oversight Committee (the “IOC” or the “Committee”) is to ensure proper oversight and coordination of GWIM’s investment processes, investment strategy, investment platforms and investment policies. It is critical that investment advice and processes be reviewed on a holistic basis to ensure that we continue to strive for consistency in the delivery of advice to clients, where appropriate, across its platforms.
The Investments Solutions Group (“ISG”) Product Management Investment Committee (“ISG PMIC” or the “Committee”) is responsible for the evaluation, review, approval, supervision and oversight of all products, platforms and/or services managed or maintained by ISG, including the Merrill Investment Advisory Program (MLIAP) and Legacy Third Party and FA-Directed Programs (“Advisory Programs”) sponsored by Merrill Lynch, Pierce, Fenner & Smith Incorporated and/or its affiliates, as well as domestic and global funds and exchange traded funds (“ETFs”) (“Global Funds Products”) (“collectively, “ISG Products”) distributed by Merrill and the Private Bank.
The Fiduciary Investment Committee (FIC or the Committee) purpose is to oversee the exercise of fiduciary powers and duties with respect to investment management activities of fiduciary accounts in BANA.