State Street has announced a partnership with S&P Global Trucost to assess climate change risks and opportunities for State Street’s ESG services.

The partnership will see State Street will offer its clients the opportunity to access Trucost environmental data through the reporting and analytics capabilities of State Street’s platforms. This functionality allows clients to access carbon footprint and other environmental data mapped to their portfolios, as well as increasingly influential Taskforce on Climate-related Financial Disclosure (TCFD) reporting features, applying Trucost’s Carbon Earnings at Risk, Paris Alignment, and Physical Risk data intelligence.

“For investment managers and asset owners globally, the demand for ESG reporting and data solutions continues to grow. As this need increases, our ESG Risk Analytics tools, combined with Trucost’s climate data services, are uniquely positioned to help clients meet the evolving global regulatory environment,” said Rick Lacaille, senior investment advisor and global ESG lead at State Street.