Calvert
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CalvertFixed Income
Sovereign Credit & Biodiversity Risk: Calvert’s Framework | Calvert
Calvert Research and Management presents a proprietary Biodiversity indicator for sovereign credit analysis, built around seven financially material themes (land, ocean, freshwater, overexploitation, pollution, species, and goals/strategy) derived from IPBES and the Kunming-Montreal Global Biodiversity Framework. The framework uses 115 KPIs back-tested against sovereign bond performance, groups countries by income level and landlocked status for like-for-like comparisons, and argues that biodiversity loss poses a material and growing credit risk to sovereigns given that over $58 trillion of global GDP depends on natural capital.
CalvertESG
Investing Through the Next Phase of Energy Transition 2.0 | Calvert
Calvert's white paper outlines the macro forces reshaping the global energy transition, including rapidly rising electricity demand, shifting geopolitics, infrastructure constraints, and uneven policy environments. It identifies companies with durable positions that may create long-term value by addressing system-level needs within an evolving energy system.
CalvertESG
The Water Constraint | Calvert
Calvert's Emerging Markets Equity team argues that water, long treated as a free industrial input, is becoming a binding constraint on growth, permitting, and returns on capital - particularly for mines, semiconductor fabs, and data centers expanding in water-stressed regions. The piece examines how the hidden costs of water scarcity (treatment, permitting, operational disruption, reputational risk) are increasingly material to investment analysis in emerging markets.
CalvertESG
Investing in the Talent Economy: Human Capital Management Takes Center Stage | Calvert
Calvert Research and Management outlines four financially material human capital trends - declining OECD labor supply, AI's impact on employment, evolving employee preferences, and improved DEI data availability - and explains how these have prompted an expansion of their DEI research index methodology. The piece argues that strong talent management practices represent both investment opportunities and risks for companies in an increasingly skill-driven economy.