State Street’s 2011 Corporate Responsibility Report Highlights Reduced Environmental Footprint, Increased Philanthropy & Vo...
August 20 2012 - 9:00AM
Business Wire
State Street Corporation (NYSE: STT) today announced the release
of its full 2011 corporate responsibility report. Published
annually since 2004, the report highlights the company’s
environmental, social and governance (ESG) performance over the
past year, and its goals for the future.
“Corporate responsibility is highly valued by our global client
base who recognize its role in helping to drive innovation,” said
chairman, president and chief executive officer, Jay Hooley. “From
reduction of waste, water and carbon emissions to volunteering and
charitable giving, it is integral to our values that we not only
continue to minimize our environmental footprint, but also give
back to the communities in which we and our clients operate.”
Highlights for 2011 include:
Environmental Sustainability accomplishments
- State Street lessened its carbon
dioxide emissions by 24,500 metric tons through the use of cloud
computing.
- State Street’s energy efficiency
initiatives which included installing more than 2,000 efficient,
light-emitting diode (LED) lights in our Massachusetts offices as
well as modifying infrastructure equipment saved 11.84 million
kilowatt-hours of electricity, $1.69 million, and an estimated
6,788 metric tons of carbon emissions.
- A manager-initiated flex work program,
launched at State Street in 2011, resulted in 1,574 new flex work
arrangements. Employees participating in this environmentally and
family-friendly program self-reported savings of more than 140,000
miles driven per week by the end of the year.
- State Street also achieved ISO 14001
certification at its flagship buildings in Dublin, Edinburgh and
London, a global standard that provides a framework for managing
environmental responsibilities.
Philanthropy and Volunteerism Accomplishments
- State Street’s charitable contributions
rose 15 percent to $20.5 million from $17.8 million in 2010.
- State Street matched $2,170,000 of
employee charitable gifts, a seven percent increase from $2,027,000
in 2010.
- The total number of employee volunteer
hours grew to eight percent, totaling 85,000 hours and valued at
$1.85 million.
- Launched in fall 2011, State Street’s
inaugural Global Giving Campaign, a six-week company-wide
initiative focused on education, raised $3.5 million in gifts to
participating charities worldwide.
Business Accomplishments
- State Street Global Advisors (SSgA),
State Street’s investment management business launched a new High
Quality Green Bond strategy during 2011 that offers investors a way
to direct fixed income investments to climate solutions through a
portfolio of green bonds managed by SSgA.
- At year-end 2011 SSgA managed $108
billion in assets incorporating ESG factors.
“We continue to take steps to further align our corporate
responsibility strategy with State Street’s core value to be a
global force and local citizen,” said George Russell, State
Street’s director of Corporate Citizenship and president of the
State Street Foundation. “Transparency and accountability are
critical to this objective for which the publication of our annual
Corporate Responsibility report is an important milestone”
State Street’s report highlights additional corporate
responsibility accomplishments in 2011.
The corporate responsibility report can be accessed through
State Street’s Making Life Better portal (statestreet.com/better),
an interactive website launched in 2011 that highlights the
company’s commitment to corporate citizenship.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $22.4 trillion in assets
under custody and administration and $1.9 trillion in assets under
management at June 30, 2012. State Street operates in 29 countries
and more than 100 geographic markets. For more information, visit
State Street’s website at www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx.
$68 billion as of March 31, 2012), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors serves
as the marketing agent.
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