U.S. Bank to Provide ESG Data Solutions to Global Fund Services Clients
U.S. Bank announced that it will leverage Sustainalytics, a Morningstar Company and a leading global provider of ESG research and ratings, to offer environmental, social and governance (ESG) data solutions to U.S. Bank Global Fund Services (GFS) clients where independent ESG analytics and reporting services are required.
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“New regulatory requirements often introduce a level of uncertainty on how to address the requirements”
With this relationship, clients will have access to a wide range of market standard-based sustainable investment datapoints applicable to their portfolio. U.S. Bank has integrated Sustainalytics’ research and ratings to support portfolio analysis which enables regulatory compliance solutions and investor and financial reporting capabilities to address emerging regulatory and investor reporting demands. The sustainable investment data integration will also include a depositary oversight solution: U.S. Bank will use Sustainalytics’ ESG research and ratings to ensure qualifying EU depositary clients are compliant with Sustainable Finance Disclosure Regulation (SFDR) requirements.
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“New regulatory requirements often introduce a level of uncertainty on how to address the requirements,” said Breda Sullivan, U.S. Bank head of Depositary Services Europe. “U.S. Bank brings a wealth of resources and industry expertise that not every fund service provider can claim. We’re excited to work with Sustainalytics to offer this new level of customized oversight to clients with sustainable investment strategies.”
Sustainalytics has a team of more than 500 in-house research analysts dedicated to producing its ESG research and ratings. In addition, the company relies on public disclosures and artificial intelligence to mine and report on meta-datasets. The resulting data library – accessible to U.S. Bank clients – provides coverage on approximately 15,000 companies and is structured in a manner that allows GFS to extend this data to bonds and derivatives issued by the companies in scope.
Global Fund Services joins U.S. Bancorp Asset Management, which already utilizes Sustainalytics to implement ESG investing strategies.
U.S. Bank Global Fund Services, along with U.S. Bank Global Corporate Trust and Custody and U.S. Bancorp Asset Management, comprise the Investment Services division, which holds $9.5 trillion in assets under custody and administration as of Dec. 31, 2021. U.S. Bank offers Investment Services solutions from three European locations in Ireland, Luxembourg and the United Kingdom
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