Our Voting Record on Climate Related Shareholder Proposals for 2ºC Scenario Proposals
Our voting on climate change is typically prompted by shareholder proposals. However, we may also take voting action against directors even in the absence of shareholder proposals for unaddressed concerns pertaining to climate change. The number of climate-related proposals on company ballots has been steadily increasing over the past few years. Annually, we review and vote every climate-related proposal in our portfolio. We also endeavor to engage with the proponents of shareholder proposals to gain additional perspective on the issue, as well as with companies to better understand how boards are managing relevant risks.
Our Engagement Record - More than 600 engagements on climate-related issues since 2014
We engage with companies to understand their approaches to mitigating and managing the physical and transitional impacts of climate change. Since 2014, we have engaged with more than 600 companies across multiple industries on climate-related issues. Our engagement approach leverages the four dimensions of the Task Force on Climate-related Financial Disclosures (TCFD) framework: Governance, Strategy, Risk Management, and Metrics. We expect companies to disclose their approach to identifying climate-related risks and the management policies and practices in place to address such issues.
The Climate Action 100+ initiative seeks three central outcomes through engagement with companies on climate change: improving governance of climate change, reducing emissions, and strengthening climate-related disclosure. These goals are consistent with what State Street has advocated for in our company engagements, through our thought leadership, and, where needed, communicated through our voting process. The alignment between our climate stewardship approach and that of Climate Action 100+ is evident in our advocacy of the TCFD and Sustainability Accounting Standards Board (SASB) frameworks, which both are in line with the spirit of Climate Action 100+’s efforts.
We believe climate change is one of the biggest risks in investment portfolios today. These risks impact almost all segments and industries – not just the obvious polluters. However, with climate risk comes tremendous investment opportunity as the economy reworks against the impact of climate change.
UN PRI 2020 Leaders’ Group
Proud to be among the 20 asset managers named to the 2020 Leaders' group for climate reporting.
As a signatory of the Task Force on Climate-related Financial Disclosure (TCFD) recommendations, we are engaging with companies to review the quality of their climate reporting and to understand how boards oversee climate-related risks.
We are pleased to announce that State Street is committing to reducing our carbon emissions on an absolute basis over the next 10 years in accordance with the Science-Based Targets initiative (SBTi), and we will achieve carbon neutrality for our Scope 1 (natural gas) and Scope 2 (electricity consumption) emissions this year. Carbon neutrality is achieved by calculating a company’s carbon footprint and reducing it through a combination of reduction actions plus the purchase of renewable energy credit (RECs).
View More Information About Our Firm: FINRA’s Brokercheck
Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-800-997-7327, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SSGA Funds.
THIS SITE IS INTENDED FOR U.S. INVESTORS ONLY.
No Offer/Local Restrictions
Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors. Not all products will be available to all investors. The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.
All persons and entities accessing the Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. The Site is not directed to any person in any jurisdiction where the publication or availability of the Site is prohibited, by reason of that person's nationality, residence or otherwise. Persons under these restrictions must not access the Site.
Information for Non-U.S. Investors:
The products and services described on this web site are intended to be made available only to persons in the United States, and the information on this web site is only for such persons. Nothing on this web site shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.