Boston – San Francisco, June 2019
IdealRatings, Inc. today announced a new collaboration with State Street Corporation (NYSE: STT), demonstrating both entities commitments to support the global integration of ESG material risk management strategies into investment decision making processes, using unique ESG data elements.
IdealRatings will be providing State Street with underlying data points of up to 40,000 companies globally. Data delivery covers 200+ parameters, including individual ESG scores and more detailed information on company policies, targets, implementations, structure, and disclosure activities. Controversial involvements, whether in the manufacturing side or supply side, in industries such as: mining, weapons, chemicals, genetically modified organisms, medical research and tobacco are also researched.
With this agreement, State Street will expand its data source capabilities for current portfolios analyzed via State Street’s ESGX® product. ESGX® is an analytics tool launched in 2017 to provide information to help clients bring transparency and standardization to their ESG investing. Developed by State Street Global Exchange, State Street’s data and analytics business, ESGX® provides clients with a web platform through which they can assess ESG factor exposure in their portfolios, such as a company’s carbon footprint, the type of labor used in a supply chain and board diversity statistics.
Mohamed Donia, IdealRatings CEO commented on this agreement, “IdealRatings is delighted to partner with State Street Corporation in collaboration with their ESGX® platform. We believe with this partnership we are able to embrace the changes taking place in the world trend towards more Responsible Investments.”
“We are delighted to welcome IdealRatings as one of our new ESG data providers. IdealRatings has extensive experience in both ESG and responsible investing research. Through our analytics engine ESGX®, we strive to offer our clients insight into identifying non-traditional financial “tail” risks (and opportunities), within their portfolios. We are confident that IdealRatings will further complement our existing suite of ESG data providers.” commented Mark McDivitt, Managing Director, Head of ESG Solutions at State Street.
About IdealRatings, Inc.
IdealRatings, incorporated in San Francisco, is a global solutions provider for Responsible Investments. Its database solutions for Equities, REITs, and Fixed income are aimed at global investment managers and asset owners. IdealRatings solutions are licensed by leading financial institutions, asset managers, index providers and brokerage firms in over 25 countries. visit IdealRatings’s website at www.idealratings.com.
About State Street Corporation
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 $32,643 billion in assets under custody and administration and $2,805 billion* in assets under management as of March 31, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33 billion as of March 31, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
Mr. Magdy Eissa,
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State Street Corporation:
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