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Global Evolution, in partnership with our clients, aim to leave a legacy of impact in emerging markets through responsible investment.
Global Evolution, in partnership with our clients, aim to leave a legacy of impact in emerging markets through responsible investment.
As an emerging and frontier markets fixed income investment manager, we are on a dual mission to generate attractive returns for our clients while indirectly contributing to developmental progress in our investment universe through responsible investing.
Emerging market debt and foreign exchange markets play an important role in facilitating sovereign and corporate access to global capital and liquidity. When functioning effectively, these markets enable financing for public goods such as infrastructure, health, and education. Bond and FX markets reinforce market discipline, rewarding credible macroeconomic policies, sound institutions, and transparency while penalizing persistent imbalances. Over time, active participation in local bond and FX markets supports financial deepening, strengthens policy credibility, and improves resilience, creating the enabling conditions for sustainable development when guided by responsible investment practices.
Global Evolution’s responsible investment practices are informed by internationally recognized principles and frameworks through participation in selected industry initiatives and collaborative engagements.
Global Evolution is a signatory to the Principles for Responsible Investment (PRI). Our participation in the PRI informs the ongoing development of our responsible investment approach and internal policies. In the latest PRI* annual assessment, we received 5 starts for all areas assessed including Policy Governance and Strategy, Confidence Building Measures, and Fixed Income. Get access to the full Summary Scorecard by clicking the link.
With our membership of UN Global Compact (UNGC), we commit to the Ten Principles of UNGC and communicate on our progress annually. Our most recent Communication on Progress is reported in our latest Sustainability Report.
We are a supporter of the Task Force on Climate-related Financial Disclosures (TCFD) and the Taskforce on Nature-related Financial Disclosures (TNFD) and publish an annual integrated Climate and Nature report, informed by the TCFD and TNFD recommendations. Our latest Climate and Nature Report is available here.
Global Evolution’s responsible investment approach is based on negative screening, ESG integration, and engagement. Negative screening is applied to restrict exposure to certain issuers or activities based on ethical considerations and risk assessment. ESG integration involves the consideration of environmental, social, and governance factors alongside traditional credit analysis where relevant. Engagement with sovereign and corporate issuers focuses on dialogue and information exchange to enhance our understanding of issuer-specific risks and governance practices and to discuss policies and initiatives that could benefit all stakeholders.
This approach supports the management of ESG-related risks and underpins our responsible investment practices in pursuit of long-term, risk-adjusted returns.
Global Evolution’s negative screening approach balances responsible investment considerations with the developmental realities of frontier and emerging markets. We recognize that many issuers operate from low ESG baselines due to structural constraints and are at early stages of development, where access to capital can play an important role.
Our exclusion approach is therefore designed to screen out issuers with severe and persistent ESG deficiencies where underlying issues render investments incompatible with our responsible investment principles, while remaining open to issuers demonstrating potential for improvement and long-term convergence toward global sustainability standards.
Our investment approach is grounded in the understanding that financial performance and improvements in environmental, social, and governance (ESG) factors are mutually reinforcing with a particular emphasis on the dynamic relationship between improvements in ESG performance and enhanced financial outcomes. Sovereign and corporate issuers that demonstrate progress in governance practices, environmental resilience, and social development are more likely to strengthen their fundamentals, reduce credit risk, and enhance long-term financial stability. By integrating ESG considerations into our investment process, we seek to identify risks and opportunities that traditional credit analysis alone may overlook.
For sovereign issuers, the analysis is supported by a proprietary ESG scoring framework specifically developed for emerging and frontier markets. This framework evaluates ESG factors in the context of a country’s income level and trajectory over time, with the objective of mitigating income bias against frontier and EM commonly observed in conventional ESG ratings. For corporate issuers, ESG assessment combines external ratings with internal analysis that considers industry-specific and country-specific factors, as well as forward-looking ESG risks and developments. The resulting ESG assessments are used as key inputs into investment decision-making and ongoing risk monitoring.
Our engagement with emerging markets issuers focuses on constructive dialogue and information exchange through country visits, meetings with policymakers, participation in investor forums, and ongoing engagement. These activities enhance our understanding of economic conditions, policy frameworks, and issuer-specific risks, informing our investment decisions in line with our responsible investment approach. While we are not prescriptive on expenditure, we engage in respectful dialogue on initiatives and policies related to environmental sustainability, citizens’ wellbeing, and governance practices that may deliver long-term benefits for all stakeholders.
Here you can learn more about how sustainability is a cornerstone in Global Evolution’s business philosophy
*PRI annual assessment
Principles for Responsible Investment (“PRI”) is a group of signatories who have agreed to adopt and adhere to specific principles for responsible investment. PRI assesses signatories adherence in order to rate them. To be included in the Assessment Report, signatories report on their responsible investment activities by responding to asset-specific modules in the Reporting Framework. Each module houses a variety of indicators that address specific topics of responsible investment. Signatories’ answers are then assessed and results are compiled into an Assessment Report. Additional information regarding the assessment can be found here: www.unpri.org/signatories/reporting-and-assessment
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