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Eaton Vance Corp.

PRI reporting framework 2020

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You are in Strategy and Governance » ESG issues in asset allocation

資産配分におけるESG問題

SG 13. ESG issues in strategic asset allocation

13.1. 貴社組織がシナリオ分析および/またはモデリングを実施するか記述してください。実施する場合、 シナリオ分析について説明してください(資産クラス別、セクター別、戦略的資産配分等)。

25語以内で説明してください 。 At Calvert, ESG issues, including climate change, are an integral part of our risk assessments across our investments and directly impact sector weightings.

13.2. 組織が戦略的な資産配分やセクターまたは地理的な市場間での資産の配分においてESG問題を考慮しているかどうかを記載してください。

以下を行っている

13.3. 補足情報 [任意]

The answers above reflect Calvert and their ESG research.


SG 13 CC.


SG 14. Long term investment risks and opportunity

14.1. 一部の投資リスクと機会は長期トレンドの結果として発生します。貴社では、以下のどの項目について考慮するか明示してください。

その他(具体的に記入してください)(1)

          Inequality
        

14.2. 気候に関するリスクと機会に対応して組織で実施されている活動を選択してください。

14.3. 次のツールの中から気候関連リスクと機会の管理に組織が用いているものを選択してください。

14.4. 排出量リスクの開示を選択した場合、採用している開示方法またはそのフレームワークの中で気候関連のものを挙げてください。

Climate change is an engagement priority that Calvert addresses in direct dialogue with companies and through collaboration with other investors. Cavert's engagement addresses governance of climate risk, and calls on companies to reduce greenhouse gas (GHG) emissions, and invest in energy efficiency and renewable energy when suitable. Calvert does this through dialogue, filing shareholder resolutions and engaging with policymakers.

Part of Calvert’s engagement was under the auspices of Climate Action 100+, a global investor initiative seeking to enhance corporate governance of climate change, curb emissions and strengthen climate-related financial disclosures at companies with great opportunities to tackle climate change.

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.

Calvert is leading the engagement with two electric utilities that are working to transition their electricity generation fleets away from coal and toward natural gas and renewable energy. Both of these companies have made commitments to reduce GHG emissions in line with climate science. Calvert's engagement seeks to understand how their investments and business strategies align with a low-carbon economy. In that regard, Calvert is asking these companies to conduct climate risk scenario analyses - and they are calling on them to align their public policy and lobbying practices with their stated sustainability priorities.

Calvert also continued prior engagement with a group of companies on climate and energy issues.

During the Reporting Period, on shareholder proposals related to climate change, Calvert voted:

  • For all six shareholder proposals to require companies to create a report on climate change.
  •  For all 10 shareholder proposals regarding GHG emissions.
  •  For both shareholder proposals to establish an environmental or social issue board committee

14.5. 補足情報 [任意]

Central to Parametric's investment philosophy is the observation that most capital markets are highly efficient and that risk control, diversification and careful cost management can help determine long-term investment success. Calvert offers engineered portfolio solutions that are transparent and rules-based and do not require tactical insights into valuations or market direction. Parametric is long-term owners of a broad, global set of publicly traded equities.

From this perspective, Parametric's approach to responsible investing focuses on exercising their ownership rights to encourage good governance practices in order to benefit shareholders while continuing to deliver the underlying strategy return. In their view, good governance includes a consideration of the environmental and social impact of a company's activities in order to reduce unnecessary risks and improve the company's competitive position.

To this end, Parametric's firmwide Proxy Voting Guidelines, which are applied to their commingled vehicles and are available to separately managed clients, do take into consideration a company's impact on the environment and are generally supportive of shareholder proposals calling for disclosure related to climate change as well as resolutions asking companies to commit to reducing their greenhouse gas emissions within reasonable timelines. Parametric may also support select sign-on letters or collaborative engagements.

Separately, their clients may independently decide to divest from companies they deem to be associated with climate change - those with high carbon emissions for example - which is something that we are able to implement within their separately managed public equity portfolio.

To this end, Parametric's firmwide Proxy Voting Guidelines, which are applied to their commingled vehicles and are available to separately managed clients, do take into consideration a company's impact on the environment and are generally supportive of shareholder proposals calling for disclosure related to climate change as well as resolutions asking companies to commit to reducing their greenhouse gas emissions within reasonable timelines. We may also support select sign-on letters or collaborative engagements.

Separately, Parametric's clients may independently decide to divest from companies they deem to be associated with climate change - those with high carbon emissions for example - which is something that Parametric is able to implement within the client's separately managed public equity portfolio.

 

 

 

 

 


SG 14 CC.

14.6 CC. 気候に関連するリスクと機会を評価するために使用されるこれらの重要な指標についての詳細を記入してください。

指標の種類
カバレッジ
目的
指標の単位
方法
カーボンフットプリント(スコープ1と2)
          1) assist in the analysis of companies environmental risk and opportunities, 2) Measure the Impact of Portfolios, 3) Input into portfolio construction
        
          Metric tonnes per dollar of revenue
        
          Scope 1 & Scope 2 emissions over total revenue
        
ポートフォリオのカーボンフットプリント
          ) Measure the Impact of Portfolios relative to the market, 2) Input into portfolio construction
        
          Metric tonnes per dollar of revenue
        
          Variety – Amount to reserves, Types of Reserves, Use of Fossil Fuel, Percentage of Portfolio exposed.
        
総炭素排出量
          
        
          
        
          
        
炭素濃度
          
        
          
        
          
        
炭素関連資産へのエクスポージャー
          1) assist in the analysis of companies environmental risk and opportunities, 2) Measure the Impact of Portfolios 3) assist in portfolio construction
        
          Variety – Amount to reserves, Types of Reserves, Use of Fossil Fuel, Percentage of Portfolio exposed.
        
          Variety example: Weighed averages of portfolio, Percent of Portfolio exposed, Amount of Reserves held…etc
        

14.8 CC. 気候関連のリスクが全体のリスク管理に組み込まれているかどうか記述してください。また、気候関連リスクを特定、評価、管理するために利用されたリスク管理プロセスについて説明してください。

500語以内で自由に記述。

Process for Climate change Risk Starts with Calvert's proprietary research process focusing on identifying the financially material ESG risks to which issuers are exposed, and evaluating management teams' ability to navigate those risk. As part of this process, Calvert analyst develop a research thesis on each industry. Through this thesis work, Calvert analysts develop a deep understanding of the potential environmental impacts, including climate change, of an industry. Calvert identifies potential operational risks, regulatory risk and environmental impact of the companies in the industry. Calvert's thesis work allows use to weight the climate change and environmental risk alongside other risks associated with the industry. Calvert's analyst identify how best to evaluate each company's management on key issues including climate change. Calvert analyst ultimately recommend companies which are taking appropriate steps to manage climate change and other risks for inclusion into portfolios.

14.9 CC. 貴社組織がTCFD採用を促すアクティブオーナーシップ活動を行うか記述してください。


SG 15. Allocation of assets to environmental and social themed areas

15.1. 貴社にて、特定の環境および社会をテーマとする分野に基づいてファンドに資産を配分したり、ファンドを運用しているかどうかについて明示してください。

15.2. 環境および社会をテーマとする分野に投資された合計運用資産(AUM)の割合を明示してください。

0.1 %

15.3. 貴社が投資しているテーマ分野を明示のうえ、AUMに対する特定の資産クラスの割合を記載し、その内容を簡潔に説明してください。

分野

投資している資産クラス

0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Global Energy Solutions Fund seeks to track the performance of the Calvert Global Energy Research Index (the Index). CRM derives the universe for the Index by identifying companies that manage energy useage in a sustainable manner or that are actively engaged in facilitating the transition to a more sustainable economy through the reduction of greenhouse gas emissions and the expanded use of renewable energy sources. Assets: 50% of the Fund assets are invested in clean technology as of 12/31/19.

The Calvert Green Bond Fund seeks to invest primarily in "green" investments; including securities of companies developing or providing products or services that address environmental solutions and/or support efforts to reduce their own environmental footprint; bonds supporting environmental projects; and structured securities collateralized by assets supporting environmental themes, including green buildings, consumer loans for energy efficiency home improvements and residential and non-residential solar financing contracts. Assets: 57.65% of the Calvert Green Bond Fund addresses energy efficiency; 12.22% SSA, 9.79 Corporate (financial), 17.36% Corporate (non-financial), and 18.28% securitized as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Global Energy Solutions Fund seeks to track the performance of the Calvert Global Energy Research Index (the Index). CRM derives the universe for the Index by identifying companies that manage energy useage in a sustainable manner or that are actively engaged in facilitating the transition to a more sustainable economy through the reduction of greenhouse gas emissions and the expanded use of renewable energy sources. Assets: 25% of the Calvert Global Energy Solutions Fund assets are invested in renewable energy as of 12/31/19.

The Calvert Green Bond Fund seeks to invest primarily in "green" investments; including securities of companies developing or providing products or services that address environmental solutions and/or support efforts to reduce their own environmental footprint; bonds supporting environmental projects; and structured securities collateralized by assets supporting environmental themes, including green buildings, consumer loans for energy efficiency home improvements and residential and non-residential solar financing contracts. Assets:Assets: 57.65% of the Calvert Green Bond Fund addresses energy efficiency; 12.22% SSA, 9.79 Corporate (financial), 17.36% Corporate (non-financial), and 18.28% securitized as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)
0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Green Bond Fund seeks to invest primarily in "green" investments; including securities of companies developing or providing products or services that address environmental solutions and/or support efforts to reduce their own environmental footprint; bonds supporting environmental projects; and structured securities collateralized by assets supporting environmental themes, including green buildings, consumer loans for energy efficiency home improvements and residential and non-residential solar financing contracts. Assets: 22.17% of the Calvert Green Bond Fund addresses green buildings; 1.11% SSA, 3.46% Corporate (financial), 3.59% Corporate (non-financial), 14.01% Securitized as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)
0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Special Equities Program invests in venture capital privately placed investments including limited partnerships and private debt, including in such areas as sustainable agriculture. Examples include a Peruvian company that packages and sells fresh mangos from local farmers to international markets, a Tanzanian company that processes seeds and beans to produce high quality proteins and edible oils with enhanced biologically active micro nutrients and an Indian food ingredient company. Roughly 10% of the program is devoted to sustainable agriculture as of 12/31/19.

The Calvert Green Bond Fund seeks to invest primarily in "green" investments; including securities of issuers developing or providing products or services that address environmental solutions and/or support efforts in developing standards and training for sustainable agriculture practices including pesticide use and equitable treatment of labor as well as providing financing to meet standards. Assets: 2.26% of the Calvert Green Bond Fund addresses sustainable agriculture as of 12/31/19.

Those Calvert Funds participating in the Calvert High Social Impact Investment Program hold a global sustainable agricultural note in ImpactAssets Inc. Roughly 40% of ImpactAssets Inc. focus on sustainable agriculture as of 12/31/19.

投資している資産クラス

0.01 % (AUMの)

簡潔な説明および投資尺度

Through the Calvert High Social Impact Investment Program, certain Calvert Funds have invested in Community Investment Notes, issued by Calvert Impact Capital (CIC) Inc., formerly the Calvert Foundation. These notes invest in microfinance institutions (MFIs) that empower entrepreneurs to start or grow their small businesses and provide for their families, among other things. Through microfinance, lower income individuals and communities who don't have access to traditional financial services are able to access loans and other financial products, ranging from $5 to $5,000. Assets: 32% of the Calvert Funds' investment in the Calvert High Social Impact Investment Program is invested through CIC. 18.6% of the CIC's assets focus on microfinance as of 12/31/19.

The Calvert High Social Impact Investment Program holds a microfinance plus note with ImpactAssets Inc. Roughly 55% of the Funds' investments with ImpactAssets focus on microfinance as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Special Equities Program allocated assets to early, direct investments in private companies, including private debt, run by visionary entrepreneurs who seek profitable ways to address society's needs. The investments were generally venture capital privately placed investments in small, untried enterprises. These include pre-IPO companies and private funds, including limited partnerships.

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Funds participating in the Calvert High Social Impact Investment Program invest in Community Investment Notes, issued by the Calvert Impact Capital Inc (CIC), formerly the Calvert Foundation. These notes include CIC's Ours To Own initiative to connect investors to community development in their own cities. Assets: 81% of the Calvert Funds' investment in the Calvert High Social Impact Investment Program is invested through CIC. 24.2% of CIC's assets focus on community development as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Funds participating in the Calvert High Social Impact Investment Program invest in Community Investment Notes, issued by the Calvert Impact Capital Inc. (CIC), formerly the Calvert Foundation, which includes investments in organizations and projects that enable people to live in safe, affordable housing. Lending in affordable housing is focused on providing flexible enterprise-level financing that enables affordable housing developers to most effectively create and preserve affordable housing across the U.S. Assets: 81% of the Calvert Funds' investment in the Calvert High Social Impact Investment Program is invested through CIC. 17% of CIC's assets focus on affordable housing as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Funds participating in the Calvert High Social Impact Investment Program invests in Community Investment Notes, issued by Calvert Impact Capital Inc. (CIC), formerly the Calvert Foundation, which includes invests in making high-quality education affordable and accessible to all, here in the U.S. and abroad. This includes the construction of new schools and the expansion of existing educational facilities. In addition, CIC's loans supported the creation of 33,402 new classroom seats, either by expanding school capacity or making education more accessible to lower-income communities. Assets: 32% of the Calvert Funds' investment in the Calvert High Social Impact Investment Program is invested through CIC. 1% of CIC's assets focus on education as of 12/31/19.

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Emerging Markets Equity Fund seeks to invest in companies whose products/services or industrial/business practices contribute to addressing one or more global sustainability challenges in their local or international markets in ten key areas, including development, poverty and health. Assets: Roughly 7% of the Calvert Emerging Markets Equity Fund assets focus on global health as of 12/31/19

The Calvert Emerging Markets Equity Fund seeks to invest in companies whose products/services or industrial/business practices contribute to addressing one or more global sustainability challenges in their local or international markets in ten key areas, including development, poverty and health. Assets: Roughly 1.7% of the Calvert Emerging Markets Advancement Fund assets focus on global health as of 12/31/19

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Global Water Fund seeks to track the performance of the Calvert Global Water Research Index (the Index). CRM derives the universe for the Index by identifying companies that manage water useage in a sustainable manner or that are actively engaged in expanding access to water, improving water quality, promoting efficient use of water, or providing solutions that address other global water challenges. Assets: 100% of the Calvert Global Water Fund focuses on water as of 12/31/19.

The Calvert Green Bond Fund seeks to invest primarily in "green" investments; including securities of companies developing or providing products or services that address environmental solutions and/or support efforts to improve water efficiency and the development of sustainable water infrastructure, including water technology and large scale municipal projects aimed at improving wastewater treatment and access. Assets: 2.67% of the Calvert Green Bond Fund addresses water management as of 12/31/19.

 

          Environment and Climate Change, Human Rights and Governance and Green Products and/or Services
        

投資している資産クラス

0.1 % (AUMの)

簡潔な説明および投資尺度

The Calvert Green Bond Fund seeks to invest primarily in "green" investments; including securities of companies developing or providing products or services that address environmental solutions and/or support efforts to reduce their own environmental footprint; bonds supporting environmental projects; and structured securities collateralized by assets supporting environmental themes, including green buildings, consumer loans for energy efficiency home improvements and residential and non-residential solar financing contracts. Assets: 33.1% of the Calvert Green Bond Fund focuses on green products and/or services not mentioned in the other categories above. Many of these same bonds are also held in our other Fixed Income portfolios and are not included in this calculation as of 12/31/19.

15.4. 含めたい補足情報があれば、添付してください。 [任意] 



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