Footnote 1 BofA Global Research, ESG from A to Z: a global primer. November 8, 2019.
Footnote 2 Hermes Investment Management, ESG investing: A Social Uprising, 2018.
Footnote 3 BofA Global Research, ESG Matters – US: Top 10 reasons you should care about ESG, September 2019.
Footnote 4 Governance & Accountability Institute, Inc., 2019.
Footnote 5 Hermes Investment Management, ESG Investing: A Social Uprising, 2018.
Footnote 6 BofA Global Research, “Thematic Investing: The She-conomy,” March 6, 2019.
Footnote 7 Hermes Investment Management, ESG Investing: A Social Uprising, 2018.
Footnote 8 "Climate change: The investment perspective." EY, 2016.
Footnote 9 "Deconstructing Risks in Impact Portfolios," Bank of America GWIM CIO, March 2018.
Impact investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance deviating.
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