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Community Capital Management, INC.

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy


SG 01. RI policy and coverage


01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。


01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

At CCM, we believe a fully integrated portfolio–one that includes environmental, social and governance (ESG) factors–can deliver strong financial performance while simultaneously having positive long-term economic and sustainable outcomes. Our strategies utilize an innovative bottom-up approach to fixed income and equity investing combining the positive impacts of impact and ESG investing with rigorous financial analysis, an inherent focus on risk management, and transparent research. We provide impact investing solutions coupled with hands-on client service and report to clients on the multiple positive impact outcomes of their investments.

We execute on this philosophy as follows:

- CCM manages assets that align with one or more of 18 impact themes. These themes include: affordable health/rehab care, affordable housing, arts & culture, disaster recovery, economic inclusion, education/childcare, enterprise development/jobs, environmental sustainability, gender lens, government supported communities, healthy communities, human empowerment, minority neighborhoods, neighborhood revitalization, rural community development, seniors/disabled, sustainable agriculture, and transit-oriented development. Clients are encouraged to tell us their impact preferences.
- We look for affirmative, bottom-up expressions of impact and ESG qualifications.
- Our two-fold approach seeks positive impact and ESG attributes that align with our impact themes while also avoiding investments which we believe are inconsistent with these themes.

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]


CCM’s fixed income strategies invest in high quality, well-researched bonds where we have confidence that the use of the proceeds will have positive societal impacts.  Each of the bonds that we select for a portfolio must meet our stringent impact and financial criteria.  Our impact criteria includes:

Use of Proceeds: The use of proceeds must positively impact a community in one or more ways and align with one or more of our 18 impact themes..
Transparency: Our proprietary approach, whereby we have visibility into the use of bond proceeds, allows us to better understand the financed programs and have confidence in their expected positive environmental and social outcomes.
Reporting: We must be able to quantify and report on the expected impact and/or detail the qualitative benefits of each investment. Quantitative data can include the number of jobs created or the number of affordable housing units created as well as dollar amounts invested in impact themes. Qualitative research is the “story,” so to speak, which includes detailed explanations of what the security is financing. We report to clients on the positive impact outcomes of their investments and offer institutional clients the opportunity to customize their fixed income portfolios by geographies or impact themes.


Similar to our approach in fixed income, we evaluate equity securities from an impact and financial perspective.  CCM supplements its in-house research with third-party data to determine where potential holdings fall in the following four categories:

Strong Positive Impact: companies that we believe are significant contributors to society such as those that generate more than 50 percent of their revenue from a product or service that aligns with one ore more of our 18 impact themes.
Moderate Positive Impact: companies which have characteristics that align with one or more of our 18 impact themes and that we believe are a net benefit to society.
Neutral Impact: companies that do not fall within the two categories above but where there exists the potential to be included in the two categories in the future.
Negative Impact: companies with excessive ESG-related risk such as fossil fuel exploration and production or any activity related to coal, tobacco, weapons, and prison management, among others. These securities are not eligible for investment.

For investment strategies that include both fixed income and equity investments in a single portfolio, we apply the same respective tools and techniques mentioned above to each investment when measuring, monitoring, and tracking impact and ESG metrics and outcomes.

01.6. 補足情報 [任意]


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。





02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。










02.3. 補足情報 [任意]

We publish an Annual Impact Report on our impact and ESG efforts. Our most recent report is attached in some of the sections above and may be found on our website at:

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

All policies on managing potential conflicts of interest in the investment process are included in CCM's compliance manual. A copy of the manual is available upon separate written request.

03.3. 補足情報 [任意]

SG 04. Identifying incidents occurring within portfolios (Private)