State Street removes diversity goals (2025)
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State Street removed corporate board diversity requirements from its 2025 proxy voting guidelines in a Feb. 28 update.
State Street is the third Big Three passive asset manager (following BlackRock and Vanguard) to scale back diversity, equity, and inclusion (DEI) voting policies this year. DEI is part of the social component of ESG.
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Last year, State Street Global Advisors said it expected corporate boards to be comprised of at least 30% women or it may vote against the head of the companies’ nominating committees. That policy no longer exists in the money manager’s 2025 guidelines for shareholder voting and corporate discussions, according to an update released Friday. The company manages $4.7 trillion. … The changes at State Street are salient given that the asset manager launched the “Fearless Girl” campaign in 2017, prompting large investment firms to vote against directors at companies that lacked women on their boards. State Street unveiled the Fearless Girl statue in New York’s financial district in lower Manhattan in the wake of the #MeToo movement.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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