State Street Corporation, one of the world’s leading providers of financial services to institutional investors, and S&P Global company Trucost announced today a strategic engagement bringing Trucost’s carbon and environmental data and analytics solutions to State Street’s clients, representing more than $40 trillion of assets.

Dr. Richard Mattison, Chief Executive Officer of S&P Global Trucost and Chief Product Officer of ESG at S&P Global, said:

“We are excited to partner with State Street to accelerate the awareness of climate risks and opportunities. Market frameworks are being developed across many jurisdictions and S&P Global provides integrated approaches for market participants to manage and report on climate and ESG impacts.”

Last month, State Street announced the launch of ESG Risk Analytics, designed to provide risk management, metrics and target reporting capabilities for Task Force on Climate-related Financial Disclosures (TCFD), on a platform that allows clients to effectively measure their carbon footprint and intensity and offers clients monthly, quarterly and annual ESG reporting. The suite of ESG solutions also provides clients regulatory support and data coverage for the EU Sustainable Finance Disclosure Requirements (SFDR).

The new agreement brings together the reporting and analytics capabilities of State Street’s platform with ESG Risk Analytics and Trucost’s data intelligence on the risks and opportunities of climate change. State Street clients will access functionality including mapping carbon footprint and other environmental data to portfolios, and TCFD reporting features, applying Trucost’s Carbon Earnings at Risk, Paris Alignment, and Physical Risk data intelligence. The Trucost engagement also brings support for UN Sustainable Development Goals (SDG), EU Taxonomy, and Sector-Specific Revenue metrics, and expands asset class coverage to include Sovereigns.

Brenda Lyons, Executive Vice President and Global Head of Asset Servicing Products at State Street, said:

“This partnership furthers our commitment to offer clients a full complement of ESG analytics and reporting capabilities. Our ESG solutions, coupled with Trucost’s renowned climate data resources, allow State Street to deliver clients the critical data required to help them meet challenging global ESG regulatory guidelines and investor expectations.”

Rick Lacaille, Senior Investment Advisor and Global ESG Lead at State Street, added:

“For investment managers and asset owners globally, the demand for ESG reporting and data solutions continues to grow. As this need increases, our ESG Risk Analytics tools, combined with Trucost’s climate data services, are uniquely positioned to help clients meet the evolving global regulatory environment.”

The post State Street and S&P Global Trucost Partner to Bring Climate Data and Analytics to $40T Client Assets appeared first on ESG Today.