Fearless Girl Campaign Comes to London
March 05 2019 - 7:11AM
Business Wire
State Street Global Advisors Reports Latest Impact Numbers
Including 445 Companies Adding Women to their Boards
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today brought its Fearless
Girl campaign to London with a new statue in Paternoster Square,
against the backdrop of St Paul’s Cathedral. The firm also
announced new global diversity impact numbers on the campaign’s
second anniversary.
Since first launching the Fearless Girl campaign in 2017 on the
eve of International Women’s Day, 445 companies of the 1,265
identified by State Street Global Advisors have responded to the
call to action by either adding a female director or committing to
do so.
“We are delighted to bring this impactful campaign to London and
continue to take a stand for the important issues of gender
diversity at the board and senior leadership level,” said Lori
Heinel, deputy global Chief Investment Officer for State Street
Global Advisors. “Studies have shown that companies with greater
gender diversity at the senior leadership levels generate better
returns than their peers. That drives our conviction to continue
our engagement and voting efforts as we look to make further
progress on this important topic.”
“We are delighted to welcome Fearless Girl to the City. This
builds upon the City of London Corporation’s continuing efforts to
increase the recognition of women in the City’s public realm,” said
Catherine McGuinness, chair of the policy and resources committee
at the City of London Corporation. “I hope that Fearless Girl will
serve as a reminder of the progress we have made and the progress
we still need to make.”
”We are delighted to welcome Fearless Girl not only to the City
of London, but to our home at Paternoster Square,” said David
Schwimmer, CEO of London Stock Exchange Group. “The London Stock
Exchange Group fully supports her mission of raising awareness of
the importance of diversity on boards and within senior corporate
leadership.”
State Street Global Advisors also announced today new impact
numbers demonstrating continued progress for the firm’s gender
diversity asset stewardship programs in the US, UK, Australia,
Japan, Canada and Continental Europe. Concluding its second year,
423 companies identified by State Street Global Advisors have now
responded to the firm’s call by adding a female director to their
previously all male boards and another 22 have committed to do
so.
Starting in 2020 in the US, UK and Australian markets, and in
2021 in Japan, Canada and Continental Europe, State Street Global
Advisors will vote against the entire slate of board members on the
nominating committee if a company does not have at least one woman
on its board, and has not engaged in successful dialogue on State
Street Global Advisors’ board gender diversity program for three
consecutive years.
As a result of State Street Global Advisors’ Fearless Girl
campaign, companies and shareholders worldwide have been inspired
to focus on the issue of gender diversity. Highlighting just two
examples since the firm last reported impact numbers, it has seen
the number of companies adding a female director increase by 57
percent in the UK and 48 percent in the US.
Fearless Girl by the Numbers Worldwide:
Companies identifiedas not
having a singlefemale board member
Number ofcompanies adding
afemale director
Number ofcompanies committing to
add afemale director
2017 2018
2017
2018
2017 2018 Global
1,228 1,265
301 423
28 22 Breakdown by region
US 816 839
215 318 14
10 Japan 281 281
40 43 11
11 Canada 66 66
13 20 02
1 UK 12 12
7 11 0
0 Europe 10 11
5 5 0
0 Australia 45 56
21 26 1
0
Fearless Girl represents one key component of the firm’s broader
asset stewardship program. Through that program the firm engages
with corporations to understand a wide range of risks that could
impact long-term value, and to drive conversation and action around
those risks which include climate change, corporate culture, water
& waste management and supply chain management
“Our active stewardship approach is the cornerstone of our ESG
offering and impacts every dollar that we manage for clients,” said
Heinel. “Industry research demonstrates that ESG factors impact
companies’ long-term performance and we are committed to helping
our clients understand the risks and opportunities in this rapidly
emerging sector.”
For more information on State Street Global Advisors’ asset
stewardship efforts and its Fearless Girl campaign, click here.
About State Street Global AdvisorsFor four decades, State
Street Global Advisors has served the world’s governments,
institutions and financial advisors. With a rigorous, risk-aware
approach built on research, analysis and market-tested experience,
we build from a breadth of active and index strategies to create
cost-effective solutions. As stewards, we help portfolio companies
see that what is fair for people and sustainable for the planet can
deliver long-term performance. And, as pioneers in index, ETF, and
ESG investing, we are always inventing new ways to invest. As a
result, we have become the world’s third largest asset manager with
nearly US $2.51 trillion* under our care.
* This figure is presented as of December 31, 2018 and includes
approximately $32.44 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
Tracking Number 2446113.1.1.GBL.PRExpiration date:
03/31/2020
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State Street CorporationBrendan
Paul617-943-5368bpaul2@statestreet.com
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