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Eaton Vance Corp.

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

Across the Eaton Vance affiliates, we include consideration of environmental, social and governance (ESG) factors in our evaluation of investment opportunities and in the construction of the investment portfolios we manage.

 Please see LEI 04.2 for a description of how screens are incorporated into both Calvert and Parametric investment processes.

スクリーニング実行者

説明

Across the Eaton Vance affiliates, we include consideration of environmental, social and governance (ESG) factors in our evaluation of investment opportunities and in the construction of the investment portfolios we manage.

 Please see LEI 04.2 for a description of how screens are incorporated into both Calvert and Parametric investment process.

スクリーニング実行者

          Treaty on Conventional Armed Forces in Europe and the UN Register on Conventional Arms
        

説明

Across the Eaton Vance affiliates, we include consideration of environmental, social and governance (ESG) factors in our evaluation of investment opportunities and in the construction of the investment portfolios we manage.

 Please see LEI 04.2 for a description of how screens are incorporated into both Calvert and Parametric investment process.

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

At Calvert, the Calvert Principles for Responsible Investment provide a framework for the research process and evaluation of issuers. As noted in that document, Calvert's commitment to these Principles signifies continuing focus on investing in issuers with demonstrated responsibility and sustainability characteristics. The application of the Calvert Principles generally precludes investments in issuers with particularly risky/detrimental operations/activities. The full list of such operations/activities can be found at https://www.calvert.com/media/34498.pdf.

As a responsible investor, Calvert clients invest in issuers that provide positive leadership in the areas of their operations and overall activities that are material to improving societal outcomes, including those that will affect future generations. Calvert seeks to invest in issuers that balance the needs of financial and nonfinancial stakeholders and demonstrate a commitment to the global commons, as well as to the rights of individuals and communities.

The Calvert Principles provide a framework for Calvert's evaluation of investments and guide Calvert's stewardship on behalf of clients through active engagement with issuers.The Calvert Principles seek to identify companies and other issuers that operate in a manner that is consistent with or promote: environmental sustainability and resource efficiency; equitable societies and respect for human rights; and accountable governance and transparency. The principles articulated in this document are based on the UN Global Compact and other global norms related to responsible corporate behavior. Calvert believes that most corporations and other issuers of securities deliver a net benefit to society, through their products and services, creation of jobs and the sum of their behaviors.

In the event that there are any changes to the Calvert Principles, they will need to be approved by the Board of Trustees for the Calvert Funds. Updated information would then be publicly shared on Calvert's website and with clients as appropriate.

For a separate account mandate, Parametric has the ability to incorporate ESG screens into the portfolio construction process. The firm currently utilizes ESG business involvement and scoring data from dedicated third-party providers, including MSCI, Sustainalytics, IWP Capital and JLens, which is incorporated into the rules-based implementation of a portfolio. Parametric offers over 40 standard screens including the following:

  • Faith-based (including Catholic Values, Baptist Values, Jewish Values, and Shariah Compliance)
  •  Environment (including Fossil Fuels, Carbon Intensity, and Factory Farming)
  •  ESG Controversies (including human rights and labor rights)
  •  Sanctions (including Iran, Sudan)
  •  Global Norms (including United Nations Global Compact)
  •  Governance - Gender Diversity
  •  Social (including Abortion, Animal Welfare, Firearms, Gambling, and Tobacco)
  •  Sectors and Industries (both US and Global)
  •  Countries

Parametric also works with clients to implement custom restriction lists from other data providers. The proprietary systems are designed to provide clients with a high degree of customization and allow account-specific restrictions to be enforced and monitored on an ongoing basis.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.4. 組織のESGスクリーニングを構築するための組織内リサーチを精査する頻度を示してください。

05.5. 補足情報 [任意]

Calvert subscribes to third-party ESG research at an indicator level, and brings thousands of third-party indicators into the Calvert Research System. In the peer group models created by Calvert's ESG research analysts within the Calvert Research System, select third-party indicators, as well as proprietary indicators developed by Calvert, are used to calculate issuer scores. These third-party data points are loaded into the underlying database monthly.

Please note, through Calvert, EVM and Atlanta Capital portfolio managers and fundamental analysts have access to leading proprietary ESG research conducted by Calvert's ESG analysts and collaborate with Calvert's ESG team regularly.


LEI 06. Processes to ensure fund criteria are not breached

06.1. ファンドの基準に違反がないことを確認するために組織が使用しているプロセスを記載してください。

06.2. ファンドのスクリーニング基準に対する違反が判明した場合、これらの違反を是正するために従うプロセスを説明してください。

At Calvert, The Calvert Principles for Responsible Investment provide a framework for Calvert’s research process and evaluation of issuers. As noted in that document, Calvert's commitment to these Principles signifies continuing focus on investing in issuers with demonstrated responsibility and sustainability characteristics. Certain issuers are deemed to be ineligible for investment. For Calvert Funds, if an ineligible security was purchased in error, the Fund must sell the security in the best interest of shareholders. If this results in a loss to the Fund, CRM typically makes the Fund whole.

Calvert periodically reviews its assessment of issuers, and may determine that an issuer is no longer eligible for investment, making its securities ineligible for their portfolios. When this occurs, if any such securities are held, CRM's disposition policy is followed. This policy specifies that if a security moves to ineligibility status, CRM will sell the security at a time and in a manner that is determined to be in the best interests of the client (a Calvert Fund and its shareholders, or a separate account following these criteria).

At Parametric, if breaches are found, all affected portfolios are analysed for potential impact and clients are notified if deemed necessary.

At Atlanta Capital, if breaches are found, all affected portfolios are analyzed for potential impact.The client is notified and made whole if necessary. Then processes and procedures are reviewed to insure it does not occur again.

06.3. 補足情報 [任意]


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