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Eaton Vance Corp.

PRI reporting framework 2020

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You are in Direct - Listed Equity Active Ownership » Outputs and outcomes

Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort

Indicate the proportion of companies in your listed equities portfolio with which your organisation engaged during the reporting year.
We did not complete any engagements in the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion of companies engaged with, out of total listed equities portfolio

Individual / Internal staff engagements

96
5

Collaborative engagements

4
0
Service-provider engagements
721
0

09.2. Indicate the breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf).

No. of interactions with a company
% of engagements
One interaction
2 to 3 interactions
More than 3 interactions
Total
100%

09.3. Indicate the percentage of your collaborative engagements in which you were the leading organisation during the reporting year.

Type of engagement

% leading role
  Collaborative engagements

09.4. Indicate the percentage of your service-provider engagements in which you had some involvement during the reporting year.

Type of engagement

% of engagements with some involvement
Service-provider engagements

09.5. Additional information. [Optional]

Engagement capabilities presented reflect the work of EVC's affiliate, Calvert.


LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

10.2. Additional information. [Optional]

Engagement capabilities presented reflect the work of EVC's affiliate, Calvert.

Calvert believes respectful and constructive direct dialogue with senior management, built on a foundation of trust and an understanding of shared goals, is a core part of active ownership. Calvert engages directly with companies both on its own, and as part of investor or broader stakeholder coalitions.

When Calvert's research team uncovers an opportunity to potentially enhance shareholder value and improve company performance by taking advantage of an opportunity or mitigating a risk, they engage directly with management through periodic phone calls, letters and meetings to raise concerns and identify opportunities, operating on Calvert’s commitment to encourage concrete progress across sectors of the economy.

As dialogue takes place, Calvert evaluates success based upon the concrete actions a company takes. In some cases, this involves the release of requested information or disclosure. As engagement develops, positive outcomes may include a company establishing or strengthening a policy, adding members to the board, developing risk management approaches or committing to specific performance improvements. Other positive outcomes include developing constructive relationships with companies they hold, raising awareness among investors broadly and contributing to industry best practices. When an engagement is completed, they typically maintain dialogue to track progress.


LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Diversity
Conducted by
Objectives

To increase representation of women and people of color on corporate boards of directors and in senior management.

Scope and Process

Calvert initiated a diversity engagement focusing on companies with less than 20% women on the board and no women among the top five executive officers. Calvert wrote to 37 companies and had dialogue with seven. Calvert is pursuing further engagement with another six companies by filing shareholder proposals seeking to increase representation of women and people of color on boards and in senior management.

Calvert has continued its engagement from prior years with several small regional banks on diversity. These companies are in the process of building out their engagement strategies, and have created leadership initiatives, strengthened diversity policies and formalized diversity programs, which address hiring, training and promotional opportunities. Ultimately, success will be measured by positive change in the numbers of women and people of color in senior roles.

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

As part of Climate Action 100+ Calvert has volunteered to engage three companies as a lead and is in a co-lead or supporting role with six other companies. Calvert’s focus is on high-emitting sectors including electric utilities, construction machinery and heavy trucks, transportation, industrial machinery and consumer products. The objectives are to enhance corporate governance of climate change, curb emissions and strengthen climate-related financial disclosures at companies with great opportunities to tackle climate change.

Scope and Process

Calvert engaged a company in the transportation sector, which is moving forward with plans to integrate climate change considerations throughout the business and developing strong science based goals for greenhouse gas emissions reductions for its operations and products.

Outcomes
ESG Topic
Other

specify

          
        
Conducted by
Objectives

Calvert engaged Walmart on its position on firearms sales following an August shooting at one of its stores in El Paso.

Scope and Process

The company subsequently announced changes to its policies on gun and ammunition sales, as well its position on gun policy. The company agreed to use its influence to argue for stronger gun safety regulations and conditions, share best practices and technology with smaller retailers to improve everyone's compliance with existing laws, request that customers not openly carry firearms into its stores, even in states with open carry laws, and stop sales of ammunition for handguns and assault weapons. In its statement announcing these changes, Walmart CEO Doug McMillon noted that, "We've also been listening to a lot of people inside and outside our company as we think about the role we can play in helping to make the country safer."

Outcomes
ESG Topic
Company leadership issues|General ESG
Conducted by
Objectives

In late 2018, the Sustainability Accounting Standards Board (SASB) officially published a set of standards that establish a framework to determine the financially material sustainability issues relevant to each industry and the companies within that industry. This gives companies a guide to focus their disclosure efforts appropriately, providing investors with ESG information most relevant to long-term financial performance. As founding members of both the SASB Investor Advisory Group and the SASB Alliance, Calvert has been able to voice their views as the SASB standards evolved over the past several years. Calvert engaged three companies as part of this initiative.

Scope and Process

Calvert’s collaboration extends across their organization. Calvert’s analysts - some of whom participated in SASB's standard-setting industry consultations and working groups and hold SASB's Fundamentals of Sustainability Accounting (FSA) credential - incorporate SASB's concepts of materiality into the research Calvert does on sectors and companies.

Outcomes
ESG Topic
Human rights|Diversity
Conducted by
Objectives

Calvert works with the 30% Coalition, a collaboration between corporations, investors and advocacy groups.The group issued a call to action to companies asking them to proactively strengthen governance policies by:

  • Embedding a commitment to diversity, inclusive of gender and race/ethnicity.
  • Including women and minorities in candidate pools for selecting board nominees and senior corporate leaders.

 

 

Scope and Process

Calvert works with the 30% Coalition, a collaboration between corporations, investors and advocacy groups. The investor members represented more than $5 trillion in assets under management.
 

Outcomes
ESG Topic
Conducted by
Objectives
Scope and Process
Outcomes
ESG Topic
Conducted by
Objectives
Scope and Process
Outcomes
ESG Topic
Conducted by
Objectives
Scope and Process
Outcomes
ESG Topic
Conducted by
Objectives
Scope and Process
Outcomes

11.2. Additional information. [Optional]

Engagement capabilities presented reflect the work of EVC's affiliate, Calvert.

 


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