State Street and TruValue Labs Partner to Improve Availability and Transparency of ESG Data for Investors
May 16 2017 - 1:13PM
Business Wire
Partnership Will Provide State Street Access to TruValue Labs’
ESG Signal Based on SASB’s Framework
State Street Corporation (NYSE:STT) and TruValue Labs, a
provider of artificial intelligence-driven environmental, social
and governance (ESG) data, today announced an agreement to promote
the adoption of industry-standard ESG data produced according to
the Sustainability Accounting Standards Board (SASB) framework.
TruValue Labs leverages artificial intelligence to review
thousands of information sources each day and provide signals
founded on real-time sustainability data analytics to investors,
financial institutions and corporations. As part of the agreement,
State Street will gain access to one of TruValue Labs’ ESG signals,
based on SASB’s industry-leading materiality framework, which
identifies sustainability issues at the industry level.
According to a recent study of both retail and institutional
investors from State Street’s Center for Applied Research, 60
percent of respondents note a lack of industry standards for
measuring ESG performance as a significant barrier to full
integration[1]. Additionally, benchmarking is also seen as one of
the greatest challenges, as more than half of respondents say they
find it difficult to benchmark performance against peers.[2]
“Successful ESG investing is not possible without full data
transparency into companies’ non-financial factors,” said John
Plansky, global head of State Street Global Exchange. “State Street
is committed to delivering timely and consistent ESG data and
insights to our clients. This partnership with TruValue Labs is the
next step in helping investors factor sustainability-related
impacts when making decisions.”
In addition to leveraging SASB’s framework, State Street and
TruValue Labs plan to collaborate on research and the development
of new products and solutions that will ultimately provide
investors with the tools they need to further integrate key
sustainability insights into their decision making processes.
“We’re thrilled to partner with one of the world’s leading
financial services providers,” said Hendrik Bartel, CEO and
co-founder of San Francisco-based TruValue Labs. “This will give
State Street clients the ability to use the SASB framework in
decision making.”
“State Street and TruValue Labs are united by a mission of
improving the transparency and availability of data that will allow
investment professionals to meaningfully analyze risk and identify
opportunities that can be found beyond compulsory financial
fillings,” said Mark McDivitt, head of ESG Solutions at State
Street Global Exchange.
"Sustainability issues impact financial performance in specific
ways that vary by topic and industry," said SASB Director of
Capital Markets Policy & Outreach Janine Guillot. "Today’s
announcement will help the investment industry begin to compare
company performance on material sustainability topics in the
context of industry characteristics and value drivers."
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $29.83 trillion in assets
under custody and administration and over $2 trillion* in assets
under management as of March 31, 2017, State Street operates
globally in more than 100 geographic markets and employs 34,817
worldwide. For more information, visit State Street's website at
www.statestreet.com.
*Assets under management were $2.56 trillion as of March 31,
2017. AUM reflects approx. $33.33 billion (as of March 31, 2017)
with respect to which State Street Global Advisors Funds
Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and
State Street Global Advisors are affiliated.
About TruValue Labs
TruValue Labs is a data and risk analytics company which
provides objective, timely, and alternative data sets that reveal
intangible value by leveraging artificial intelligence. The core
technology is the flexible InsightEngine,™ which captures
extra-financial signals from unstructured data with a focus on
Environmental, Social, and Governance (ESG) criteria. TruValue Labs
delivers increased transparency to financial markets by providing
analytics that go beyond traditional fundamentals, offering
SaaS-based platforms, as well as state-of-the art API’s that allow
for easy integration.
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
© 2017 State Street Corporation - All Rights Reserved
CORP-2958
[1] The study is based on a global survey of 582 institutional
investors who are, or plan to, implement environment, social and
governance (ESG) into their investment process and 750 individual
ESG and non-ESG investors.[2] The study is based on a global survey
of 582 institutional investors who are, or plan to, implement
environment, social and governance (ESG) into their investment
process and 750 individual ESG and non-ESG investors.
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version on businesswire.com: http://www.businesswire.com/news/home/20170516006466/en/
State Street CorporationBrendan Paul, +1
617-662-2903Bpaul2@statestreet.com@StateStreet
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