ESG Integration

A material impact area for our clients

Our Goal

Engage and educate the market, our clients, and the firm on how we incorporate ESG factors in our proprietary investment strategies.

As the world continues to evolve, ESG issues have become increasingly important to society, our stakeholders, and investment managers across the globe – including BBH. We believe investment strategies that reflect certain ESG attributes play an important role in helping to meet values-based goals while enabling us to preserve and grow our clients’ capital over long periods of time.

We provide investment management services to individual and institutional clients around the world – embedding ESG criteria in our investment process. Evaluation of ESG factors is a critical part of our investment philosophy and core principles that aid us in effectively assessing the long-term sustainability and durability of our equity strategies, corporate bonds, municipal debt and structured products. ESG criteria are embedded within our analysis and decision-making process and every new investment must meet rigorous fundamental standards, which includes passing tests on ESG-related issues. Each of our investment teams employ a tailored, bottom-up approach that is best suited to their specific strategy while remaining consistent with our overall investment philosophy and process. This approach allows us to arm our business development and relationship management team with the information they need to provide clear, comprehensive reporting to our clients.

To learn more on ESG Integration in Investment Management, read our ESG Position Statement.

In addition to identifying financially material risks and opportunities when building and managing portfolios, an important part of our investment process is our engagement with companies and issuers.

To learn more about how we engage with companies and issuers, read our Investment Stewardship Policy.

At BBH we recognize that climate-related risks present significant challenges to society, the global economy, and financial markets. We believe that physical climate risk and the global transition toward a lower-carbon economy present both potential risks and opportunities to our clients’ investments. To learn more about how we consider climate in our investment process, read our climate statement.

We recognize that industry ESG standards are stillevolving and not uniform across the various bond markets.What remains consistent, however, is our approachto integrating ESG risk factors into our fundamentalcredit analysis.

UN Sustainable Development Goal Alignment

Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all

Core Program Components

  • Our investment process integratesion of ESG-related factors in our investment process across all asset classes.
  • Read our ESG Position Statement.

  • We offer engagement with our clients about their goals, market trends, and how ESG criteria is incorporated into BBH’s investment process.

  • We offer educational sessions on ESG integration and best practices on a regular basis.
  • We collaborate with the Executive Sustainability Council and across lines of business on the ESG landscape and what it means to BBH, our clients, and our stakeholders.

  • We participate in ESG conferences and communicate with specialist research firms, thought leaders, and our international network of investors.
  • PRI

    BBH Investment Management became a signatory in 2020

  • 100 %

    of time where we analyze financial risk, we analyze ESG risk.

  • 52 %

    increase in ESG-related RFP responses

  • 2,000 +

    employee hours spent on ESG Training and Education

Based on 2021 data

2021 Stewardship Report

BBH has been in business for more than 200 years. Sustainability—a steadfast commitment to long-term value and well-being—is core to who we are. We will steward that commitment well into the future—for our clients, our people, and our communities. In this report we detail our accomplishments and progress in our ten focus areas in 2021.

Investing in securities that meet ESG criteria may result in the fund forgoing otherwise attractive opportunities, which may result in underperformance when compared to funds that do not consider ESG factors.  A less favorable ESG profile may not preclude the Adviser from investing in a company, as the consideration of ESG factors is not more influential than the consideration of other investment criteria.

Brown Brothers Harriman & Co. (“BBH”) may be used to reference the company as a whole and/or its various subsidiaries generally. This material and anyproducts or services may be issued or provided in multiple jurisdictions by duly authorized and regulated subsidiaries. This material is for general information and referencepurposes only and does not constitute legal, tax or investment advice and is not intended as an offer to sell, or a solicitation to buy securities, services or investment products.Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or other applicable taxregimes, or for promotion, marketing or recommendation to third parties. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed,and reliance should not be placed on the information presented. This material may not be reproduced, copied or transmitted, or any of the content disclosed to third parties,without the permission of BBH. Pursuant to information regarding the provision of applicable services or products by BBH, please note the following: Brown Brothers HarrimanFund Administration Services (Ireland) Limited and Brown Brothers Harriman Trustee Services (Ireland) Limited are regulated by the Central Bank of Ireland, Brown BrothersHarriman Investor Services Limited is authorised and regulated by the Financial Conduct Authority, Brown Brothers Harriman (Luxembourg) S.C.A is regulated by the Commissionde Surveillance du Secteur Financier. All trademarks and service marks included are the property of BBH or their respective owners. © Brown Brothers Harriman & Co. 2021.All rights reserved. FIRM-00412-2022-09-14


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