Ben Colton has a fiery passion for ESG sustainability. In this episode, he guides us through companies’ responsibility in disclosing data, its financial benefits, and how his stewardship greatly influences businesses to eliminate hindrances in ESG reporting and allow diversity in thought among employees in all positions.
Watch ▶️ Embracing the Opportunity in ESG Stewardship with Ben Colton: https://youtu.be/r0-wSMGWabE.
Key points discussed in the episode:
✔️ Ben Colton defines his role as the Global Head of Asset Stewardship Team at State Street Global Advisors (SSGA). Regulatory advocacy, thought leadership, company engagement, and accountability mechanisms – these are the most powerful tools he uses.
✔️ All companies should report according to the TCFD framework. Engage with companies to understand sector specificity and disclosure laggards.
✔️ Ben Colton believes transition investing opens doors for business expansion and opportunities. He also points out polarizing the discussion and shaming companies can be counterintuitive. “Don’t ask them when they want to get there but how they want to get there.”
✔️ Ben Colton provides well-documented evidence on the positive impact of SSGA’s Fearless Girl campaign. Gender is just one facet of diversity, as his company aims to instill diversity in thought – more underrepresented communities in leadership positions.
✔️ SSGA has published guidance in 2017 on how companies can enhance diversity-related practices. They aim to imprint these methods on business in the United States and other prepared nations.
✔️ An SSGA article titled “The World Targets Change” says, “Climate strategies are driving economic transitions.” Ben Colton states the SSGA has outlined expectations based on the IIGCC, Climate Action 100+, and high-emitting companies.
✔️ With ESG, companies can be part of the solution. Bigger names shouldn’t receive the brunt of the blame as businesses of all sizes should be accountable.
✔️ The proprietary ESG score, created by SSGA, intends to establish credibility in disclosure expectations, engagement priorities, and voting activity.
✔️ Diversity is closely correlated with human capital management and corporate culture. Progressive diversity and inclusion practices promote employee satisfaction.
✔️ Companies that tap into the opinions of employees are willing to listen to diverse perspectives, putting them on equal footing with stakeholders.
Ben Colton is the Global Head of the Asset Stewardship Team at State Street Global Advisors (SSGA). His team is responsible for developing and implementing SSGA’s global proxy voting policies and guidelines across all investment strategies, and managing SSGA’s proxy voting activities and issuer engagement on environmental, social, and governance (ESG) issues. His team aims to generate a positive impact on financially material ESG issues through voting, engagement, thought leadership, and advocacy.
LinkedIn: https://www.linkedin.com/in/benjamin-colton-20b73521/
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Tag: SSGA
In this episode of Across the Board, I visit with Ben Colton- Global Co-Head of Asset Stewardship at State Street Global Advisors. He joins me to discuss the latest SSGA Asset Stewardship Report. Some of the highlights include:
- Key takeaways from the 2020 Report.
- How does SSGA uses its ‘voice and vote” to hold Boards accountable?
- The SSGA view on the need for corporate transparency on sustainability.
- Why is Board refreshment so critical?
- Where do companies need to be in 2025 on ESG and Diversity and Inclusion?
Resources
For a copy of the State Street Global Advisors 2020 Asset Stewardship Report click here.
In this episode of Across the Board, I visit with Ben Colton, Global Co-Head of Asset Stewardship at State Street Global Advisors. He joins me to discuss the latest guidance from State Street Global Advisors for companies on their racial equity efforts. Starting in 2021, the SSGA will ask companies in its investment portfolio to articulate their risks, goals and strategy as related to racial and ethnic diversity, and to make relevant disclosure available to shareholders. Some of the highlights include:
- What the Proxy Season Review is used for?
- SSGA has been working with companies since at least March on issues related to Stewardship Engagement. What were and are some of the key issues raised?
- How has SSGA engaged with companies around social issues such as BLM, employee health and safety and D&I.
- Has covid-19 heightened a focus on climate change?
- What are the types of questions/discussions you are having with shareholders and Boards at this point, as opposed to back in March and April?
Resources
See the latest letter from State Street Global Advisors’ global CIO Richard Lacaille, offering companies guidance on racial equity.
