Hank would like to make ESG analysis a part of the equity selection process for his investments. At which stage in the equity selection process would that occur?

Establishing an investment universe

Identifying opportunities within industries

Setting selling criteria

Selecting individual securities

A$)$

IV only

B$)$

I and IV

C$)$

I, II$,$ and IV

D$)$

I, II$,$ III, and IV