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Integral a nuestra filosofía de inversión
- La robusta capacidad de análisis integrada en nuestro proceso de inversión representa la piedra angular de nuestro enfoque en IR.
- Nuestro análisis cuenta con el respaldo de calificaciones de IR internas que nos permiten evaluar riesgos y oportunidades relevantes en materia ASG en más de 8.000 compañías de todo el planeta.
- Como gestores activos, el compromiso cobra una vital importancia, y atesoramos un excelente historial en la influencia sobre el cambio positivo mediante la administración y el voto.
- Tenemos una sólida cultura colaborativa que sustenta nuestro análisis y nuestro enfoque de inversión.
En Columbia Threadneedle Investments nos esforzamos por administrar de manera responsable los activos de nuestros clientes, y asignamos el capital dentro de nuestro marco de robusto análisis y buen gobierno corporativo. La integración de los aspectos ambientales, sociales y de gobierno corporativo (ASG) dentro de nuestro análisis dibuja un cuadro más completo de los riesgos y las perspectivas de futuras rentabilidades de todas las oportunidades de inversión.
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Aggregate sustainability risk exposure
The overall sustainability risk faced by a company or portfolio, taking account of a range of issues such as climate risk and ESG factors.
Best-in-class strategies try to make their portfolios better on ESG issues and/or carbon characteristics by excluding certain investments deemed negative in that respect or including certain investments deemed positive in that respect.
The carbon emissions and carbon intensity of a portfolio, compared with its investment universe (benchmark). The benchmark might be, for example, companies in the FTSE 100.
A company’s carbon emissions, relative to the size of the business. This allows investors to compare the company’s carbon efficiency with its competitors’.
The risk that an investment’s value could be harmed by climate issues such as global warming, energy transition and climate regulation. Investors normally assess climate risk by looking at carbon footprint data, climate adaptation risk, physical risk and stranded assets.
Climate adaptation risk
See Transition Risk.
A company’s operational failures or everyday practices that have severe consequences for workers, customers, shareholders, wider society and the environment. Examples are poor employee relations, human rights abuses, failure to follow regulations, and pollution. Controversies help to indicate the quality of a company.
The way that companies are organised and led. We look at how well companies are sticking to good practices set out in Corporate Governance Codes, which vary from country to country. Corporate governance is also part of the ‘G’ in ESG. In this context Governance may focus on the operational and management practices relating to social and environment aspects of the business.
Corporate Social Responsibility (CSR)
A company’s approach to (and engagement with) its stakeholders and the communities it operates in, reflecting its responsibility towards people and planet.
The reduction of the carbon emissions associated with a region, country, industry or organisation. It can also refer to the reduction of the carbon emissions associated with a fund’s investments.
The opposite of investment. In other words, either reducing or exiting an investment. We divest if we think the potential risks of investing in a company outweigh the potential returns. This may be because we have lost confidence in a company’s leadership, strategy, practices or prospects .
Talking to members of the board or management of a company – a two-way process that we might initiate, or the company might initiate. We use engagement to understand companies better. We also use it to give feedback, offer advice and seek changes – including change relating to ESG and climate risk. Engagement also means consulting with government and collaborating with other investors to influence policy and shape debate.
The «E» in ESG. This covers a focus on significant environmental risks and their management. In a climate change context it is a focus on the risks associated with a business having to adapt to climate change requirements or the physical impacts of climate change. We also look at companies’ environmental opportunities due to changing consumer demands, policy changes, technology and innovation.
Short for environmental, social and governance. Investors consider companies’ ESG risks and how well they are managed. To do this, we use the Sustainability Accounting Standards Board (SASB) framework. Considering ESG gives us a different perspective on how good an investment might be.
Always taking account of ESG issues when assessing potential investment opportunities and monitoring the investments in a portfolio.
Many investment managers use external providers, such as MSCI, to rate companies on their ESG practices. Each provider has its own way of doing things, so ESG scores can vary radically from one provider to another. We run our own ESG system to rate companies. This is based on 77 standards, each for a different industry, produced by the Sustainability Accounting Standards Board.
An ethical approach excludes investments that conflict with the client values and ethics that a fund is seeking to reflect. There are many different activities or issues that people prioritise as ethical. Common examples include tobacco, adult entertainment, controversial weapons, coal or activities that contravene religious social teaching.
Excluding companies from a portfolio. Exclusions can also be used to set minimum standards or characteristics for inclusion of investments in portfolios. Fund managers may exclude entire industries (e.g. tobacco), companies involved in ethically questionable activities (e.g. gambling), companies that fail to meet certain ESG standards, and companies with a bad carbon intensity.
Using research to work out the true value of an investment, rather than its curre