正面筛选是指社会责任投资者在选择基金产品时，基于社会伦理性准则，更倾向于选择只投资于对社会有正面贡献的公司的基金。比如，社会责任投资者会选择只购买重视劳工关系、环境保护、产品安全品质及人权的公司股票的基金。

其英文为“positive screening”，英文释义如下：

Positive screening is the process of finding companies that score highly on environmental, social and governance (ESG) factors relative to their peers. These companies can then be selected for sustainable investing portfolios.

负面筛选则是指社会责任投资者基于社会伦理性准则，避免投资对社会造成伤害的公司，如烟草公司、赌博公司、杀伤性武器生产公司等。以美国为例，最常被基金筛选掉的公司前五类包括烟草公司、酒类公司、赌博公司和不重视劳工关系及环保表现的公司等。近年来，社会责任投资者更加重视人权、平等雇用机会、重视环保的公司，公司治理、董事会组成及信息披露质量也逐渐成为新的筛选标准。

其英文为“negative screening”，英文释义如下：

Negative screening is a process used in investing to eliminate certain types of companies or industries from consideration based on specific criteria, such as ethical or social reasons. This process involves identifying and excluding companies that engage in practices that are deemed unacceptable by investors.

原则筛选是指社会责任投资者基于经济合作与发展组织（Organization for Economic Co-operation and Development, OECD）、国际劳工组织(International Labour Organization, ILO)和联合国儿童基金会（United Nations International Children's Emergency Fund, UNICEF）等国际组织出台的企业行为准则来筛选符合标准的投资标的，剔除严重违反标准的标的，或者根据标的对标准的遵循程度调整投资金额。

其英文为“norms-based screening”，英文释义如下：

Norms-based screening may include exclusions of investments that are not in compliance with norms or standards, or over and underweighting in accordance with the degree of compliance evidenced. Also known as norms-based investment.

以下为相关双语示例，供参考：

The process of positive screening usually begins with identifying an issue where investors want to have a positive impact. Also, it needs to be determined what would be the best way to measure the company’s performance against that criteria. For example, an investor who is concerned about climate change might screen the universe for companies with the lowest carbon footprint (or carbon risk) in each sector. That would result in a “best in class” selection of companies. 

正面筛选的流程通常始于确定投资者希望产生正面影响的方面。同时，还需要确定，根据该标准衡量公司业绩的最佳方式。例如，关注气候变化的投资者可能会在全世界筛选各个行业中碳足迹（或碳风险）最低的公司。这将会选出“同类最佳”的公司。

Negative screening has a long history of being applied by socially responsible investors such as charities, religious organizations, and endowments. This approach excludes entire sectors or industries from the investable universe depending on the asset owner’s requirements. For example, faith-based investors are likely to avoid “sin industries” such as tobacco, alcoholic beverages, armaments, or gambling.

慈善组织、宗教组织以及捐赠基金等有社会责任感的投资者长期以来一直采用负面筛选这一策略。这一方法根据资产所有者的要求，将整个部门或行业排除在可投资范围之外。例如，有信仰的投资者可能会避开烟草、酒精饮料、武器或赌博等罪恶行业。