State Street ESG Solutions Provides Risk Analytics Enabling Climate-related Risk Disclosures and Reporting
March 08 2021 - 9:00AM
Business Wire
ESG tools allow clients to report risk disclosures and
assessment of metrics for Task Force on Climate-related Financial
Disclosures (“TCFD”)
State Street (NYSE:STT) today introduced an enhancement to its
ESG Solutions, ESG Risk Analytics, which provides clients with the
ability to address new global regulatory reporting requirements.
Through a single platform, this data coverage brings clients the
ability to cover most Principle Adverse Impact (“PAI”) and
disclosure requirements.
ESG Risk Analytics is designed to provide risk management,
metrics and target reporting capabilities for Task Force on
Climate-related Financial Disclosures (“TCFD”) on a platform that
allows clients to effectively measure their carbon footprint and
intensity, and offers clients monthly, quarterly and annual ESG
reporting. In addition, State Street’s suite of ESG solutions will
be providing regulatory support and complete data coverage for the
EU Sustainable Finance Disclosure Requirements (“SFDR”).
“ESG considerations are increasingly at the forefront of
decision-making for investment managers and asset owners and
there’s a growing demand for solutions that will provide the
necessary data, risk analytics and reporting capabilities at
scale,” said Rick Lacaille, senior investment advisor and global
ESG lead at State Street. “We continue to support TCFD
recommendations and with our new ESG Risk Analytics tools, we are
bringing our clients a holistic solution that helps assess ESG
portfolios, while also enabling added transparency to meet the
evolving global regulatory environment.”
“Through our multi-vendor ESG analytics reporting, State Street
clients have the ability to address the new regulatory package of
the EU action plan on sustainable finance, requiring financial
market participants to disclose extensively their ESG metrics,
performance and policies, as well as to integrate ESG
considerations in their risk management and investment decisions
processes,” added Brenda Lyons, executive vice president and global
head of product at State Street.
The 2020 TCFD Status Report indicated the number of
organizations expressing support for the TCFD has grown more than
85%, reaching 1,500+ organizations globally, including more than
1,340 companies with a market capitalization of $12.6 trillion and
financial institutions responsible for assets of $150 trillion.
As interest from investors continues to grow for ESG
integration, State Street’s suite of ESG solutions paired with
State Street Alpha℠, the company’s open architecture front-to-back
investment servicing platform, brings asset owners and asset
managers an integrated, fully automated, end-to-end experience
while meeting investment and reporting needs across asset classes.
This fully integrated offering through State Street Alpha will be
available to clients later this year.
To learn more about State Street’s industry leading ESG
Solutions, click here.
About State Street
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 $38.8 trillion in assets
under custody and/or administration and $3.5 trillion* in assets
under management as of December 31, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of December 31, 2020 includes
approximately $75 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.
© 2021 State Street Corporation - All Rights Reserved
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Ed Patterson EPatterson@StateStreet.com +1 404 213 3106
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