Cardinal has Responsible Investment/ESG investing experience dating back to 1998, with the primary objective of producing high-quality investment results for investors. ESG is integrated into the fundamental analysis of invested and researched companies because Cardinal seeks investments that deliver long-term capital growth with reduced risk of loss as part of a diversified portfolio. Therefore, the team thoroughly evaluates the opportunities and risks of each investment, including material ESG considerations which affect the attractiveness of individual investment opportunities. Cardinal believes companies that responsibly integrate ESG factors into their strategic plans can enhance value by reducing risk. Formal policy and documentation of ESG analysis began in 2018.