Which of these does NOT describe an approach within ESG portfolio integration?

The approach that does not describe an ESG portfolio integration method is green securitization. This concept refers to the process of creating securities backed by green projects or assets, such as renewable energy projects or energy-efficient buildings. While it is aligned with sustainable investment themes, it does not pertain to the integration of ESG criteria into investment decision-making or portfolio construction, which is the focus of ESG portfolio integration.

Impact investing, positive screening, and negative screening are all approaches that actively incorporate ESG factors into investment decisions. Impact investing seeks to generate both financial returns and positive social or environmental impacts. Positive screening involves selecting investments based on favorable ESG criteria, choosing companies or assets that meet specific sustainability metrics. Negative screening, on the other hand, excludes investments based on poor ESG practices or activities, such as fossil fuel production or human rights violations.

In summary, while green securitization plays a role in the broader context of sustainable finance, it does not directly fit into the category of ESG portfolio integration strategies, unlike the other options which specifically describe methods of integrating ESG considerations into investment processes.