BNY Mellon offers DR clients ESG service
BNY Mellon has teamed up with Sustainalytics, an environmental, social and governance (ESG) research and analysis provider, to introduce ESG advisory services for its depositary receipts clients.
BNY Mellon is the first depositary bank to offer such services to securities issuers.
“More investors are evaluating corporate ESG practices and performance as part of their decision-making process. Through Sustainalytics, we can create an important link to help global firms gain insight into the approaches of investors and asset owners,” said Christopher M Kearns, CEO of BNY Mellon’s depositary receipts business.
“This new offering
BNY Mellon will offer its clients access to Sustainalytics’ ESG research and ratings, as well as custom benchmark reports which aim to imitate an investor view of issuers. Sustainalytics will also offer clients access to in-house industry analysts who can provide deeper insight on ESG issues.
“Companies working with BNY Mellon will benefit from a deeper understanding of how investors view their sustainability practices and how they can improve upon them to attract new investments,” said Sustainalytics’ CEO, Michael Jantzi.There has been growing interest in ESG factors among investors and corporates over recent years. The number of institutional signatories participating in the UN-backed Principles for Responsible Investment (PRI) Initiative grew 19% last year to over 1,300 signatories representing more than $45trn in assets under management.
Institutions have been increasingly recognising ESG issues as a source of opportunities, rather than simply considering them as risk mitigation matters. To date more focus has rested on governance issues than environmental and social issues.
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