The 'fearless girl' on State Street shakes the S&P 500: there are already women in all their councils
The archifamous statue of the sin fearless girl ’that State Street promoted in the heart of the financial district of New York turns three years old The American manager started the ‘Fearless Girl’ campaign to change the prevailing dynamics of machismo that prevail in the listed ones, with the aspiration that their funds will push in these companies a greater equality between men and women. His ‘lobby’ work, along with other institutions, has already given its first results and, in 2019, a historic milestone has been achieved in the S&P 500.
For the first time in history, all S&P 500 companies have at least one woman on their board, "Helping to define the strategy, set priorities, hire managerial staff and set the course for the future," the firm emphasizes. But not only that.
In a letter from Cyrus Taraporevala, president and CEO of State Street Global Advisors, to the clients of the management company, the manager states that The 681 companies around the world that previously had exclusively male boards of directors have responded to their call to incorporate the first woman into their ranks. According to the firm, in the last 36 months, has voted against the councils of 1,384 companies for not having taken the necessary measures to promote equality.
The sin fearless girl ’, located on Wall Street, represents the power and potential female leadership and, for Taraporevala," diversity in the board of directors has become a driver of long-term investment returns. " But the head of the manager goes one step further and believes that "this is only the beginning".
FROM EQUALITY TO CLIMATE CHANGE
State Street Global Advisors is applying the ‘Fearless Girl’ approach to a number of material issues that even exceed the income statement. Earlier this year, he announced that he would start using the results of his punctuation system ESG ‘R-Factor’ to put pressure on companies with a series of “essential sustainability metrics” to obtain long-term returns, which are From weather to data privacy.
The large institutional investors like State Street, whose funds move almost 2.5 trillion dollars in assets, they have an important challenge ahead to generate financial profitability and, in turn, make the world a more sustainable and equal place for generations to come.