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SHOCKING: 4 | Mind Blowing Facts

Oklahoma pension system pushes back against treasurer’s ESG opposition

The Oklahoma Public Employees’ Retirement System (OPERS) recently voted to continue contracting with BlackRock and State Street—the managers of most of the state’s pension assets. Oklahoma Treasurer Todd Russ (R) published a letter arguing against the decision and saying it could violate state laws opposing ESG. OPERS last week responded…

Ballotpedia

Supreme Court takes up cases challenging Chevron

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Vanguard, BlackRock, State Street rejected environmental and social proposals this year

The "Big Three" investors are taking the ES out of ESG.

Fortune

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BlackRock To Give Clients Voting Power Amid Criticism Over Political Investments

World's largest asset manager responds to ESG critics by allowing investors to vote proxies

Zenger

BlackRock announces plans to allow investors to vote their own proxies

The Big Three passive asset management firms—BlackRock, State Street, and Vanguard—have been criticized for using investors’ money in pursuit of political goals. The firms use the funds that they invest on behalf of their clients and vote the proxies that, outside of a pooled index or mutual fund, investors would…

Ballotpedia

House Republicans Question Big Three Asset Managers’ Climate Change Efforts

Lawmakers express concerns over potential antitrust violations in firms' ESG initiatives

Zenger

Congressmen send letters requesting ESG information from Big Three asset managers

House Judiciary Committee Chairman Jim Jordan (R-Ohio), along with Reps. Thomas Massie (R-Ky.) and Dan Bishop (R-N.C.), sent letters to the Big Three passive asset management firms—BlackRock, State Street, and Vanguard—on July 6 requesting information about their efforts to combat climate change through ESG. Jordan said such efforts could violate…

Ballotpedia

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Financial Services Committee to hold four ESG hearings this week

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Proposed legislation would eliminate ESG in TSP pensions

Congressman Chip Roy (R-Texas) on May 23 reintroduced legislation calling for the elimination of the use of ESG in the Thrift Savings Plan (TSP), the pension plan for federal employees and members of the military. The private managers of the TSP are BlackRock and State Street, two of the largest…

Ballotpedia

Clutch of U.S. firms to expand operations in Hyderabad

Entities from the U.S. met Telangana Industries and IT Minister K.T. Rama Rao and his officials

The Hindu

First Thing: 20,000 Russian troops killed in eastern offensive failures, says US

Russian casualties mark acceleration even when compared with first days of the war, says White House national security council spokesperson. Plus, all the coverage from the Met Gala

The Guardian - UK

Green investment funds pushing money into fossil fuel firms, research finds

BlackRock and L&G among asset managers using funds with ESG label to invest in coal, oil and gas

The Guardian - UK

Does Elon Musk Now Have Fewer Tesla Shares Than Index Funds?

Elon Musk spent much of 2022 selling off Tesla stock, though he remains the company’s largest individual stakeholder. However, many firms have plenty of shares.

InsideEVs

Democrats push back against the ESG pushback

In response to House Republicans’ plans to use their new majority to investigate the ESG movement, three Democratic senators penned an op-ed accusing their GOP colleagues of overstepping. The three senators—Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawaii), and Martin Heinrich (D-N.M.)—also accused Republicans who oppose ESG of being anti-capitalist:

Ballotpedia

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Fortune

State Street's diversity chief says customers are key stakeholders in its racial equity push

Paul Francisco oversees diversity efforts at State Street, a global financial firm with $3.3 trillion under management.

Zenger

Kentucky Threatens To Divest From 11 Banks Over Environmental And Social Policies

Kentucky State Treasurer Allison Ball (R) notified 11 banks that their ESG policies had harmed the state’s economy.

Ballotpedia

Kentucky threatens to divest from 11 banks over ESG policies

On January 2, Kentucky State Treasurer Allison Ball (R) issued a statement notifying 11 banks that their ESG policies amounted to energy boycotts that harmed the state’s economy according to definitions passed into law last spring. The statement says the banks have 90 days to stop what Kentucky argues are…

Ballotpedia

Economy and Society, September 13, 2022: Former Attorney General highlights recent state action against ESG

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Benzinga

Why Did State Street's Stock Rally Despite Weaker Earnings?

- EPS was down 8% y-o-y. - Total revenue fell by 4%, to $3 billion, and down 1% ex adjustments. Fee revenues were down 6% due to lower equity and fixed income. FX trading partially offset the lower fees. - Expenses were largely flat for the year at $2.1 billion.

Benzinga

11 Analysts Have This to Say About State Street

Analysts have provided the following ratings for State Street (NYSE:STT) within the last quarter:

Benzinga

Benzinga's Top Ratings Upgrades, Downgrades For June 28, 2022

Upgrades

Benzinga

Where State Street Stands With Analysts

Over the past 3 months, 10 analysts have published their opinion on State Street (NYSE:STT) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Ballotpedia

Economy and Society: Passive fund ownership of US stocks overtakes active—for first time

Benzinga

Morning Brief: Top Financial Stories Dominating on Thursday, June 9

Reuters Blackstone Closes In Crown Bid After Australia Approvals: Reuters

Benzinga

State Street Might Tap Credit Suisse As Takeover Interest

Credit Suisse Group AG (NYSE: CS) could receive a takeover offer from U.S. financial giant State Street (NYSE: STT), stated a media report a day earlier.

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