Reorienting Health Care and Business Sector Investment Priorities Toward Health and Well-Being Proceedings of a Workshop (2022) / Chapter Skim
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6 A Case Example of Business Investment
6 A Case Example of Business Investment
Pages 37-42
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From page 37... ...
A specific team is dedicated to serving institutional nonprofit clients, endowments, and foundations. There is also a team of specialists who work with health care organizations both on aligning their mission and investment portfolio, and on organizational development (e.g., sustainability, impact measurement, donor development)
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From page 38... ...
When considering where to invest in health care in the public markets, Bank of America looks to companies engaged in healthy food, fitness, medical research and diagnostics, disease prevention, disease treatment, access to health care, employee benefits, agricultural technology, air quality, water quality, and product safety, for example. Bank of America chooses not to invest in companies that he said are "negatively impacting environmental and social-related 1 For the most recent ESG report, see https://about.bankofamerica.com/en/making-an impact/esg-reports (accessed June 23, 2021)
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From page 39... ...
Portfolio development starts with a financial analysis, but then takes into account ESG information that most investors are not considering. A recent quantitative equity strategy report on ESG by Merrill Lynch (another division of Bank of America)
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From page 40... ...
He personally speculated that, in the coming 5 to 10 years, ESG due diligence would be a fiduciary requirement. He added that the Department of Labor now mandates that trustees of Employee Retirement Income Security Act plans assess ESG as part of their fiduciary responsibility.
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From page 41... ...
ESG-Informed Investing in Practice Bobby Milstein suggested that, over the coming decade, ESG could evolve to become routine institutional practice in investing. He asked about training the next generation of ESG advisors, and the incorporation of population health science.
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From page 42... ...
Milstein also asked if working with multigenerational investors changes the investment strategy because there is the potential for a longterm outlook, and whether those families might be more directly engaged in the screening of potential investments. Rantanen responded that perhaps a long-term platform could be developed based on the family's interests, perhaps making angel/seed investments or providing venture capital to family-owned businesses that align the family's thematics.
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