Climate Change High Yield Credit

Motivos para invertir

Por el bien del planeta

El objetivo doble de la estrategia pretende obtener una sólida rentabilidad financiera y generar un impacto positivo en el medioambiente a través de las descarbonizaciones.

Enfoque de alta convicción flexible

Nos centramos en empresas con fundamentales sólidos, que invierten en varias regiones, curvas de crédito y distintos tipos de instrumentos.

Medimos el cambio climático

Nuestro exclusivo marco de puntuación interno refleja el progreso de una empresa en la transición hacia la reducción de sus emisiones de carbono.

Queremos frenar el cambio climático

La implicación incentiva a las empresas a perseguir compromisos de descarbonización, con el potencial de generar un impacto positivo y significativo.

Somos expertos en inversión

Los principales miembros del equipo de inversión han trabajado juntos desde 2004 para lograr que la rentabilidad del crédito high yield sea atractiva.

Enlaces rápidos

EOS Stewardship

Harnessing investor capital to change companies for good, from within

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Overview

Nuestro objetivo es obtener una rentabilidad superior y generar un impacto positivo mediante la inversión de alta convicción en empresas que cuentan tanto con fundamentales sólidos como con el potencial de adaptarse a un modelo de negocio de bajas emisiones de carbono.

Fraser Lundie, CFA

Head of Fixed Income - Public Markets

¿Por qué invertir en Climate Change High Yield Credit?

Oportunidades atractivas en High Yield

Por el bien del planeta

Exclusións

The strategy aims to outperform the global high-yield market through high-conviction investment in companies with strong fundamentals that also demonstrate the potential to decarbonise and transition to low-carbon world.

Buscamos empresas con la voluntad y la capacidad de tener un impacto positivo en el planeta. Los inversores pueden obtener exposición al mercado de high yield y respaldar la transición hacia una economía con bajas emisiones de carbono.

We have a series of exclusions that help the Strategy achieve its sustainable objectives. For more information please see the relevant offering documents.

Cómo invertimos

High-conviction process

We overlay our dynamic investment process with a proprietary process that determines the climate change credentials of companies for portfolio construction and position-sizing purposes. Our high-conviction and flexible approach targets companies with strong fundamentals to generate returns across geographies, instrument types and credit curves. Through our disciplined, bottom-up research, we aim to identify issuers with attractive investment profiles that are contributing to the decarbonisation of the wider economy.

Climate change measurement

To determine a company’s progress towards decarbonisation and the materiality of its impact, we begin by analysing an aggregate of historical climate change data and scores. We then supplement the forward-looking perspectives of our credit analysts and engagers, including engagement insights. This enables us to really assess each company’s climate-related risks and its progress towards decarbonisation and potential impact. Designed by the Sustainable Fixed Income team, our bespoke framework – the Climate Change Impact (CCI) Score – conveys a company’s willingness to decarbonise, the potential to reduce its carbon footprint and the materiality of that decarbonisation path. These scores are key to issuer selection and sizing within the strategy.

Active engagement to bring about change

We engage with companies to bring about a positive impact that supports the transition to a low-carbon future. Our dedicated engagers in the Fixed Income team, supported by EOS at Federated Hermes, a leading global stewardship team, seek positive action on climate change. We will not hold a company’s credit where engagement on climate change transition has failed.

Filosofía de inversión

Nuestros objetivos simultáneos son ofrecer:

Rentabilidad financiera sólida
Impacto climático positivo a través de la descarbonización

Creemos que estos objetivos están interrelacionados y se refuerzan mutuamente.

Proceso de inversión

Taking a global universe and turning it into a high conviction portfolio

Screening

Company and security selection

Climate Change High Yield Credit-investment process-infographic

We begin with positive and negative screens. The negative screen excludes fossil fuels, tobacco, controversial weapons and companies in contravention of the principles of the UN Global Compact, as well as companies with a Climate Change Impact (CCI) score of 5. CCI scores measure a company’s decarbonisation in terms of progress and impact (the latter referring to the contribution the company makes to decarbonising the economy through its operations and products).

The positive screen selects innovators; companies with science-based targets; genuine transition stories encouraged by engagement and green bonds.

We assess the company fundamentals, scoring their operating, financial and ESG strengths based on analyst and engagement insight. Concurrently, our Sustainable Fixed Income team analyses the materiality of the company’s climate change agenda and assigns our CCI score.

Once we have established the company’s fundamentals and climate change agenda, we will identify which instrument within the capital structure it is best for us to use. Our analysts will produce a score for value.

Equipo

5888, 5972

Product information

For the latest performance and vital information – including prices, factsheets, key facts, identifiers and ratings

A fundamental investing approach, aiming to deliver financial outperformance across changing market environments.

Stewardship de EOS

Climate Change
High Yield Credit

Busca generar un impacto climático positivo y una rentabilidad superior a largo plazo.