BNY Mellon's ESG Analytics service will now include fixed income scoring for corporate bonds, offering clients "new opportunities" to disrupt traditional portfolio management.
The service will now offer ESG and United Nations Global Compact (GC) scores on equities and fixed income at the portfolio level versus relevant benchmarks over time, as well as a stock level.
BNY Mellon's product helps clients manage and monitor ESG and other important sustainability considerations across their portfolio. Companies are evaluated on financially material information against similar companies in that sector.
The bank's Risk View service, which supports risk measurement and ex-ante analysis, now also includes ESG ratings across client portfolios across asset classes, including more opaque investments like hedge funds.
Managing director of global risk solutions in EMEA at BNY Mellon Fraser Priestley said the move provides a "better service" to institutional clients, which "continue to demonstrate increased interest in incorporating ESG analysis to their investment process".
He added: "New technology, big data and factor-based approaches are opening new opportunities for investors and disrupting conventional approaches to portfolio management."