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Eaton Vance Corp.

PRI reporting framework 2020

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

実施プロセス

FI 01. Incorporation strategies applied

以下を記載してください。 (1)組織でアクティブ運用する債券投資について、どのESG組み入れ戦略や組み合わせを使用しているか(2)各戦略が適用されるアクティブ運用債券投資合計の割合(+/- 5%)
SSA
0 スクリーニングのみ
0 テーマのみ
0 統合のみ
95 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
5 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
社債(金融)
0 スクリーニングのみ
0 テーマのみ
0 統合のみ
95 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
5 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
社債(非金融)
0 スクリーニングのみ
0 テーマのみ
0 統合のみ
95 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
5 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
証券化商品
0 スクリーニングのみ
0 テーマのみ
0 統合のみ
95 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
5 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%

01.2. 特定のESG組み入れ戦略を選択している理由と、使用する戦略の組み合わせを説明してください。

The fixed income breakout above reflects Calvert as well as the collaboration of EVM's Investment Grade Fixed Income team.

The Calvert Principles for Responsible Investment guide their selection of companies not only for all Responsible indexed investment strategies but also for many of their actively managed strategies. We believe that most corporations deliver a net benefit to society, through their products and services, creation of jobs and the sum of their behaviors. As a responsible investor, Calvert seeks to invest in companies that provide positive leadership in the areas of their business operations and overall activities that are material to improving societal outcomes, including those that will affect future generations. Calvert seeks to invest in companies 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. More details can be found at: https://www.calvert.com/the-calvert-principles.php

01.3. 補足情報 [任意]

Companies are assessed using the Calvert Research System (CRS), which is their proprietary platform that is optimally engineered to capture multiple sources of ESG data and evaluate this information through the perspectives of Calvert’s analysts' deep ESG expertise. Calvert applies a streamlined investment decision-making process that integrates both financial and sustainability insights and compares companies across these metrics. Calvert’s team of ESG research analysts leads this process and works closely with fixed income analysts to identify the most material ESG factors and data indicators.

EVM”s Investment Grade Fixed Income team collaborates with Calvert’s ESG research analysts to review how ESG themes/metrics are specifically relevant to a company given its sector and would affect the credit drivers of spread performance. The ESG research analysts examine ESG themes and related metrics that span across governance and ethics, environment, workplace, product safety, human rights, Indigenous People's rights, and community relations, depending on the sector, and assess their potential impact on a company's credit profile and ultimately to its valuation.

The Calvert Green Bond Fund seeks to invest in companies and other enterprises that demonstrate positive ESG performances as it addresses sustainability challenges that are primarily "green" investments. These include securities of companies that develop or provide products or services that address environmental solutions and/or demonstrate leadership in their efforts to reduce their own environmental footprint; bonds that support environmental projects; structured securities that are collateralized by assets supporting environmental themes; and securities that, in the opinion of the Fund's Adviser, have no more than a negligible direct environmental impact, which may include securities issued by the U.S. Government or its agencies, and U.S. Government-sponsored entities. In order to manage this fund effectively, ESG review, integration and thematic strategies are all incorporated.

The Calvert Absolute Return Bond Fund falls into the popular "go anywhere" non-traditional bond fund category. Unconstrained funds are not typically managed against a benchmark index, but rather strategically and tactically re-allocate to be best positioned in changing markets. This is the only mutual fund in the non-traditional bond category to feature the incorporation of environmental, social and governance (ESG) analysis in its investment process.

Additionally, Calvert has worked with academic partners on understanding how ESG and event risks are tied to credit risks, and are forming additional academic partnerships to build on their understanding around financially material ESG issues in the public debt space.


FI 02. ESG issues and issuer research

02.1. 発行体に対する分析の一部として体系的に調査するESG要因を明示してください。

SSA
社債(金融)
社債(非金融)
証券化商品
環境データ
社会的データ
ガバナンスデータ

02.2. 入ってくるESG情報のフォーマットと主な情報源を明示してください。

この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください

02.3. 使用されているESG情報を簡単に説明してください。ESG組み入れ戦略全体における情報源の違いを明らかにしてください。

Calvert relies greatly on the expertise of their in-house ESG Research team to provide intelligence on how a given company performs across certain ESG factors specific to the sector to which it belongs through the Calvert Research System (CRS), a proprietary platform that allows us to integrate both financial and sustainability insights, while comparing companies across metrics. ESG research analysts also share insights based on conversations with management, NGO reports, trade union reports, and other sources. Their findings are shared across various venues, including an information sharing platform for primary issues (which they refer to as the new issue evaluation process) and regular meetings and informal interactions. Calvert's fundamental portfolio managers and analysts are also well-versed in understanding the material ESG risks and opportunities for each debt issuance, and collaborate with thier respective ESG analyst on both buy and sell decisions.

02.4. 補足情報 [任意]


FI 03. Processes to ensure analysis is robust

03.1. 組織のESG調査プロセスの堅牢性を確保する方法を記載してください。

具体的に記載してください

          Calvert's 3RC Committee oversees all aspects of the ESG research process, including fixed-income issuances.
        

03.2. ESG情報または分析を投資チーム内で共有する方法を記載してください。

          ESG assessments for fixed income issuers are shared among the Calvert ESG research team and fixed-income portfolio managers leading to joint interactions and discussions.
        

03.3. 補足情報 [任意]

The responses above reflects Calvert as well as the collaboration of EVM's Investment Grade Fixed Income team.


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