Tag: State Street

American Financial Titans Are Straying from Green Investment Strategies as GOP Pushback Mounts, Report Finds

Michigan Star Staff

Several leading American asset managers have decreased their support for environmental, social and governance (ESG) resolutions since 2021, according to a new report by InfluenceMap, a nonprofit that tracks climate policies in Western corporations.

InfluenceMap’s report assigned BlackRock, Vanguard, State Street and Fidelity environmental stewardship grades of C+ or lower, which indicates that each firm exhibits “a lack of effective climate stewardship processes and use of shareholder authority to engage companies to transition” to a green energy, net-zero carbon emissions future. The report also noted that 2022 saw a “considerable” drop in corporate support for ambitious green shareholder resolutions, a development that coincides with increased Republican scrutiny of corporate ESG policies and mandates.

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