Responsible Investing:

Our Commitment

Responsibility Requires More Than Words

Behaving responsibly is more than just a buzzword. It’s a way of life, that defines how we at AB behave, both as a firm and as investors. Our vision is to become a recognized industry leader in responsible investing, with solutions that combine strong financial outcomes with excellence in ESG research, integration and product design.

AB employees are working to create a dynamic, diverse, inclusive and intellectually challenging environment. By bringing out the best in our people, we aim to help advance the many communities we serve.

10,800

Meetings with company management teams in 2023*

US $503

Billion in assets managed using ESG integration^

_{* Includes economic meetings with sovereign issuers.

^ As of 31 December 2023. Assets using ESG integration include active fixed-income and equity strategies. Portfolios with Purpose are included in the integration total.}

Responsibility Throughout AB

To implement our responsibility strategy and measure its progress, we’ve created a structure that reflects our firm wide commitment to responsibility, from the Responsibility Steering Committee to ESG analysts and investors as well as the infrastructure that supports them.

"By pursuing insight that unlocks opportunity, we can elevate our clients, communities and the world."

Seth Bernstein, President and CEO, AllianceBernstein

AB Global Stewardship Report

Our People Driving AB’s Responsible Investing Strategy

Our teams help drive and guide our firm-wide efforts in advancing AB’s corporate responsibility practices and polices, implementing strategy and providing clients with responsible solutions and communication that meet their needs.

Responsibility Team

The team develops our firmwide approach to responsibility and collaborates with investors.

Responsibility Steering Committee

The committee of experts, from across the spectrum of asset management disciplines, develops our responsibility strategy and oversees execution.

Proxy Voting and Governance Committee

The committee has formal oversight of our proxy voting process, establishing our policy and overseeing voting activities.

Team Members

Social Advancements Can Have Global Impact

Diverse and inclusive teams can generate better ideas and reach more balanced decisions. That’s why we seek to leverage the unique backgrounds of our employees to meet the needs of a broad range of clients and to best engage the communities in which we operate.

Building a Diverse Culture

Of our 2022 US new hires, 39% were ethnically diverse.¹
As of December 2022, 21% of our SVPs are women², and in 2022, female SVP promotions as a percentage of total SVP promotions were 25%.
In 2022, female vice president (VP) promotions as a percentage of all VP promotions were 35%³

Engaging Employees

Over 27 employee resource groups (ERG) and employee wellness groups (EWG), with 800+ participants⁴
Over 100 ERG and EWG events hosted globally⁴
Learning and dialogue encouraged across all levels of the firm
Annual "AB Voice" employee engagement surveys⁵

Serving Our Communities

Between 2019 and 2021, AB and its people logged more than 11,000 service hours and held 198 "Days of Service" globally
In total, AB’s charitable actions in 2022 was over $5 million, through a combination of corporate giving and employee gift matching⁶

Diversity Efforts at AB

1. Ethnically diverse includes African-American/Black, Hispanic/Latino, Asian and Other. Ethnic diversity information is for the US only. As of December 31, 2022.
2. As at December 2022.
3. All gender information is global. As of December 31, 2022.
4. For 2022.
5. Number of organisations worldwide.
6. Total charitable actions includes employee donations, the AB matching program and other firm contributions to more than 1,400 organizations in 2022.
Source: AB

History of Our Commitment

Joined the Access to Medicine Foundation as Signatory Investor
Joined the World Benchmarking Alliance as Investor Ally

Became Member of Sustainable Trading
Joined The Institutional Investors Group on Climate Change
Joined the One Planet Sovereign Wealth Funds Initiative
Joined the Net Zero Asset Managers initiative
Accepted as a Signatory to the UK Stewardship Code for the second year in a row

Joined the Forum of Investors—Japan
Joined the TCFD Consortium in Japan
Joined the Japanese Stewardship Initiative
Joined the Investors Against Slavery and Trafficking—APAC
Joined Ceres
Became Founding Member of the Corporate Affiliate Program at the Columbia Climate School
Became Member of Emerging Markets Investors Alliance
Accepted as a Signatory to the UK Stewardship Code

Joined the AIGCC and ACGA
Became Boston College Center for Corporate Responsibility Supporting Member
Became Eurosif Transparency Code Signatory
Became FAIRR Member
Became Investor Stewardship Group Principles Signatory

Joined Investor Group on Climate Change
Started climate change and investing initiative with the Earth Institute at Columbia University in New York
Became Associate Member of LuxFlag

Joined ICI Global ESG Task Force
Joined ICI Proxy Committee
Joined ICGN Board Governance Committee
Became TCFD Supporter
Became engagement colead for Climate Action 100+

Became committee member of Securities and Futures Commission of Hong Kong’s Public Shareholders Group
Published Engagement Policy

Became CII Corporate Governance Advisory Council Member

Joined Climate Bonds Initiative
Joined Catalytic Finance Initiative
Joined Climate Disclosure Project

Published formal response to Japan Stewardship Code
Chaired AN/Securities/IB Working Group PFA21
Joined International Corporate Governance Network (ICGN)

Released Statement on Controversial Weapons
Became Japan PFA213 signatory
Became PRI signatory
Published formal response to UK Stewardship Code1
Joined Council of Institutional Investors (CII)

Source: AB as of 31 December 2023

Memberships

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Principles for Responsible Investment

AB has invested responsibly for many years. We became a signatory to the Principles for Responsible Investment (PRI) in 2011. This formalized our commitment to identify responsible ways to unlock opportunities for our clients through ESG integration in most of our actively managed equity and fixed-income client accounts, funds and strategies.

Principles were developed by investors, for investors. In implementing them, signatories contribute to developing a more sustainable global financial system. We’re committed to implementing six principles as we continue to advance our responsible investing efforts.

Reporting

AB is committed to being transparent and our RI Policies and Statements, Reports and Global Related Proxy and Governance Information can all be found on our Corporate website.

Data Disclosures giving a comprehensive breakdown of corporate performance, data and reporting disclosures can also be found on our Corporate website.

CONTINUE TO INTEGRATION & ENGAGEMENT

This is a marketing communication. This information is provided by AllianceBernstein Limited, 60 London Wall, London, EC2M 5SJ. Registered in England, No. 2551144. AllianceBernstein Limited is authorised and regulated in the UK by the Financial Conduct Authority (FCA - Reference Number 147956). It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of investments in any of the Funds can go down as well as up and investors may not get back the full amount invested. Past performance does not guarantee future results. This information is directed at Professional Clients only and is not intended for public use.