State Street Corp. said three out of four companies haven’t made meaningful progress on environmental, social and governance issues, and the asset manager is putting them on notice.

State Street Global Advisors is prepared to take voting action against board members at companies in the major stock-market indexes that have been “consistently underperforming” peers in the asset manager’s ESG performance scoring system. That’s according to a letter released Tuesday by Cyrus Taraporevala, chief executive officer of the unit that oversees $2.5 trillion in assets.

via State Street Tells Companies ESG Moves Are No Longer Optional – Bloomberg