At EVC, our affiliates’ approach to responsible investing is both flexible and evolving. Portfolio managers and analysts seek to understand the potential impacts of how issuers manage ESG risks and opportunities using both proprietary and third-party research. Because these risks and opportunities vary across industries, geographies and business models, we believe that maintaining a focus on financial materiality is critical to effective ESG research.
Our governance structure for incorporating ESG insights into investment decisions and portfolio construction has two tiers. The first level is the Responsible Investing Leadership Team, which includes selected equity and fixed income chief investment officers from various affiliates, Calvert’s chief executive officer and other senior investment leaders. The Responsible Investing Leadership Team meets quarterly to discuss emerging developments and to track progress as it relates to responsible investing and ESG integration.
The second tier of the governance structure is the Research Working Group, whose membership consists of selected analysts and portfolio managers from our affiliates representing diverse investment strategies and multiple office locations across the globe. The group meets monthly to discuss new ESG information and best practices, and reports to the Responsible Investing Leadership Team at least quarterly.
Calvert: During the reporting period, the Boards of Trustees of the Calvert Funds (the "Funds") have oversight of Calvert, the adviser who implements the principles on behalf of the Funds. Calvert's President and CEO had ultimate oversight over Calvert's responsible investment activities alongside the Responsible Research Review Committee, of which he is a member. ESG research analysts, led by the Director of ESG Research, conduct ESG research designed to identify and measure financially material ESG risk exposures, based upon the Calvert Principles for Responsible Investment as a framework.
Parametric: Investment decisions are made as a result of feedback from the investment team, including portfolio managers, investment strategists, research analysts and traders. The firm's investment strategists and research team are responsible for creating and maintaining the quantitative systems and tools for use across the firm. These rules govern how the portfolios are constructed and managed, and are the implementation rules which dictate the actions of the portfolio management team. The Director of Responsible Investing is the strategist for the Parametric Responsible Investing product suite and guides the research agenda for these strategies under the direction of Chief Investment Officer and Head of Investment Management.
Eaton Vance Management: offers equity, income, alternative and multi-asset strategies that may integrate consideration of financially material ESG factors into fundamental research processes seeking to enhance each portfolio's risk/return profile. Their approach to responsible investing is both flexible and evolving. EVM's portfolio managers and analysts seek to understand the potential impacts of how issuers manage ESG risks and opportunities using both proprietary and third-party research. Because these risks and opportunities vary across industries, geographies and business models, we believe that maintaining a focus on financial materiality is necessary to effective responsible investing.
Atlanta Capital: The President and Chief Compliance Officer of Atlanta Capital has ultimate oversight over all investment activities, including integration of Calvert ESG research into the investment process where applicable. To support the effort, the Compliance Director and team ensure that both permitted and prohibited securities are correctly coded into the trade order management system where prohibited securities are blocked from purchase on a pre-trade basis and permitted securities are allowed to be purchased. The Portfolio Management team and Investment Specialist review and monitor securities as well.
The Portfolio Management team and Investment Specialist review and monitor holdings for changes in investment thesis or ESG profile and take action as necessary.