Adds US$2.7 trillion in Assets
under Management to Finance Montréal's Efforts to Enhance
Disclosures of Climate Related Risks
MONTREAL and TORONTO,
April 25, 2018 /CNW Telbec/
- State Street Global Advisors, the asset management arm of
State Street Corporation (NYSE: STT), and Finance Montréal, today
announced that the global asset manager with more than US$2.7 trillion in assets under management has
joined more than 30 other financial institutions and pension funds
as a signatory of the Declaration of Institutional Investors on
Climate-Related Financial Risks ("the Declaration"). The
Declaration, released in October
2017, calls on publicly-traded companies in Canada to commit to enhanced disclosures of
their exposure to climate change risks, and the measures they are
taking to manage them.
The signatories of the Declaration pledge to work with
Canada's publicly-traded companies
to help them mitigate their climate change risks, such as preparing
for a transition to a low-carbon economy. By signing the
Declaration, these organizations are also using their collective
financial strength to encourage other financial institutions to
join together to inspire more sustainable economic growth and
reduce their environmental impact.
"We are proud to join these other financial stewards in calling
on publicly-traded companies in Canada to commit to disclosing more
information on their exposure to climate change risks, and how they
will manage these risks moving forward," said Peter Lindley, head of State Street Global
Advisors Canada. "In signing this Declaration, State Street Global
Advisors reaffirms our commitment to ESG efforts that will help to
initiate greater transparency around climate change disclosure
principals."
"We are pleased to welcome State Street Global Advisors among
the signatories of the Declaration," said Louis Lévesque, Chief
Executive Officer of Finance Montréal. "As a leading financial
services company, State Street is sending a strong signal to
facilitate the growth of a sustainable and low-emission economy.
Such a commitment from the now 32 signatory organizations
demonstrates the role the financial services industry can play in
the global movement seeking to reduce climate impacts."
The Declaration was led by Finance Montréal's Responsible
Investment group, and remains open to new signatories who wish to
endorse it. The full text of the declaration, as well as a complete
list of signatories, is available here.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been
committed to helping financial professionals and those who rely on
them achieve their investment objectives. We partner with
institutions and financial professionals to help them reach their
goals through a rigorous, research-driven process spanning both
active and index disciplines. We take pride in working closely with
our clients to develop precise investment strategies, including our
pioneering family of SPDR ETFs. With trillions* in assets under
management, our scale and global footprint provide access to
markets and asset classes, and allow us to deliver expert insights
and investment solutions.
State Street Global Advisors is the investment management arm of
State Street Corporation.
*Assets under management were US$2.78
trillion as of December 31,
2017. AUM reflects approx. US$35
billion (as of December 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 Finance Montréal
Finance Montréal, Québec's
financial cluster, was created in 2010 by institutions in the
financial services industry at the invitation of the Québec
Government. Finance Montréal brings together 45 institutional
members. Its mission is to develop and promote Québec's financial
services industry. The organization works to enhance Montréal's
reputation as world-class financial hub and engages in
international business development activities to attract foreign
firms in Montréal by promoting various fiscal incentives including
the IFC tax credit. Finance Montréal fosters cooperation among a
vast range of institutions to stimulate the industry's growth while
raising awareness of the financial specializations found in
Montréal. To learn more about Finance Montréal, visit
www.finance-montreal.com.
SOURCE Finance Montréal