State Street Plans to Engage With Gunmakers After Shootings
- Joins BlackRock, which also plans to take up the issue
- Passive investing funds own about 25% of U.S. gunmaker shares
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State Street Corp. plans to engage with weapons manufacturers following the school shooting in Florida, the latest big investment firm to stake out that position.
“We will be engaging with weapons manufacturers and distributors to seek greater transparency from them on the ways that they will support the safe and responsible use of their products,” the Boston-based company said in a statement. “And we will also seek to ensure that any shareholder resources used to influence legislation and regulations, or fund other advocacy efforts is consistent with the company’s public views.”