State Street Global Advisors Publishes 2020 Proxy Season Review, Showcasing Recent Asset Stewardship Activity
Also Unveils Inaugural Annual Climate Report
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today published their 2020 Proxy Season Review, which details their voting and engagement record this proxy season, and provides an overview of key focus areas for the asset stewardship program. During the 2020 proxy season, State Street Global Advisors’ asset stewardship team had comprehensive engagements with 409 companies and voted on 113,595 proposals across 70 countries on behalf of clients. Key areas of focus included: companies’ response and resilience in the face of COVID-19, integration of State Street Global Advisors’ R-Factor™ ESG scoring system, and expanding the Fearless Girl campaign for gender diversity. The Proxy Season Review was supplemented by an inaugural Climate Report, to be published annually, which provides further granularity on the stewardship team’s voting and engagement activities related to climate. The asset stewardship team continues engagement beyond proxy season on the areas of focus highlighted in these reports.
“Stewardship is integral to our investment approach because we see it as an essential aspect of fulfilling our fiduciary duty,” said Rick Lacaille, Global Chief Investment Officer at State Street Global Advisors. “Our stewardship program is designed to have an impact, and we are pleased to share these reports showcasing the continued impact of our program, under the leadership of Benjamin Colton and Robert Walker.”
Guidance and Engagement on COVID-19
In light of the extraordinary circumstances induced by COVID-19, in a March letter, State Street Global Advisors shared perspectives on its 2020 asset stewardship agenda, offering assurance that as a long-term shareholder, the firm stood ready to help companies navigate these challenging times. The stewardship team has engaged with 150 companies globally specifically on COVID-19 and its impact on businesses and stakeholders. The pandemic has brought social issues to