Thread in which I try to give some perspective to BlackRock's and State Street's sustainability reports. Firstly, there is a qualitative difference in their approaches: State Street to me is the leader, BlackRock is finally starting to move, and Vanguard is missing in action 1/9 But we wont really know where we stand until we see how each of them vote this proxy season. We have had grand statements before. What is really important is to read between the lines and not to expect too much from the asset management industry 2/9