Which of the following is NOT typically used by fixed income practitioners when assessing ESG aspects?

The focus on assessing ESG aspects in fixed income practices often involves evaluating direct financial implications related to credit quality and risk factors. Bankruptcy risk is a key consideration since it indicates the likelihood of a borrower defaulting on their obligations, which can be influenced by how well a company manages environmental, social, and governance issues. Negative credit events also fall within this assessment framework as they represent adverse changes in the creditworthiness of issuers, including those related to ESG failures.

Time horizons are significant in fixed income investing, as they help practitioners understand the duration over which risks may manifest, including those from ESG factors.

On the other hand, proxy voting is generally more relevant to equity investors and corporate governance situations. It allows shareholders to express their views and influence a company's direction, particularly regarding ESG matters. Since fixed income practitioners are often more concerned with the potential default risk and cash flow implications of their investments rather than being active governance participants, proxy voting does not commonly factor into their assessment of ESG aspects.