Rakhi Kumar, global head of asset stewardship and ESG with State Street Global Advisors (SSGA), has warned that her firm’s patience is running out with portfolio companies that aren’t heeding the asset manger’s warnings on topics such as board diversity, refreshment and climate change.
‘Given that we started talking about some of these issues in 2011, it’s really difficult to have patience with companies at this point,’ Kumar says in an interview with Corporate Secretary sister publication IR Magazine. ‘I understand having patience on emerging risks, but I don’t think investors are willing to wait for three years for management to respond to these issues. Why haven’t they prioritized them?’
Source: SSGA’s Kumar warns companies on ESG progress | Corporate Secretary
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I presume that based on this article and SSGA’s actions, Ms. Kumar must be on the enemies list of the so-called “Main Street Investors Coalition.” They’ve already practically declared war with such radical funds as BlackRock and Vanguard, as well as advisors ISS, Glass Lewis and Egan-Jones.