MONTREAL & TORONTO--(BUSINESS WIRE)--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 $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 publically-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 15 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 trillions1 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 $2.72 trillion as of March 31, 2018. AUM reflects approx. US $36 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.
1 Assets under management were $2.67 trillion as of September 30, 2017. AUM reflects approx. $36 billion (as of September 30, 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.