State Street’s Corporate Responsibility Report Highlights Achievements in Energy Efficiency, ESG and Community Investments
May 28 2014 - 9:50AM
Business Wire
State Street Corporation (NYSE: STT) today
announced the release of its 2013 corporate responsibility (CR)
report, which highlights the company’s environmental, social and
governance (ESG) activities.
“We’re continually refining how we can have the
most positive impact on our economy, society and environment
through responsible business practices,” said Alison Quirk,
executive vice president and chief human resources and citizenship
officer. “In 2013, we conducted a global scan of sustainability
issues that are most important to our stakeholders and impact our
business. We’ve captured those insights in our 2013 CR report to
illustrate how State Street and its employees are giving back
through philanthropy, community service and a commitment to the
environment.”
Highlights from 2013 include:
Business
- ESG assets under management at State
Street Global Advisors reached an all-time high of $203.7 billion,
accounting for 9% of total assets under management as of December
31, 2013
- Over the past two years, State Street’s
investments in renewable energy projects have grown to more than
$400 million
- Continuing a three-year upward trend,
State Street received AA, nearly the highest rating, on the MSCI
ESG Research Intangible Value Assessment (IVA), which assesses
companies’ risks and opportunities arising from ESG factors
compared to industry peers
Environmental Sustainability
- State Street achieved a major milestone
with four new offices completing ISO 14001 certifications, a
standard for environmental management systems; 85% of State Street
employees work in buildings with this certification
- State Street’s enterprise data center
became Energy Star Certified; the Energy Star program aims to help
save US businesses and consumers money and promote energy
efficiency
- The number of employees with formal
flexible work arrangements grew by 10%, ultimately saving more than
200,000 driving miles a week and significantly reducing State
Street’s total carbon footprint
Community Investments
- The State Street Foundation invested
$19.6 million in grants to charitable organizations to strengthen
40 communities around the world
- State Street employees contributed
87,000 volunteer hours and $4.5 million dollars to nonprofit
organizations
- Locally in its headquarter location,
State Street was able to help 1,870 underserved youth and 1,255
underserved adults secure job placements
“As a global organization, an acute awareness
of corporate responsibility is imperative to creating economic
value for clients and the communities where we live and work,”
Patrick Centanni, executive vice president, realty, procurement,
continuity and chair of State State’s Executive Corporate
Responsibility Committee. “We’re dedicated to ensuring that CR is
central to our business practices.”
State Street’s CR Report adheres to the Global
Reporting Initiative’s G4 Reporting Guidelines, an international
framework for disclosures of governance, environmental, social and
economic performance. The report was independently verified against
the AA1000 principles of inclusivity.
Click here to learn more about State Street’s
commitment to corporate responsibility and read the report.
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 $27.5 trillion
in assets under custody and administration and $2.4 trillion* in
assets under management as of March 31, 2014, State Street operates
in more than 100 geographic markets worldwide, including the U.S.,
Canada, Europe, the Middle East and Asia. For more information,
visit State Street’s web site at www.statestreet.com.
* Assets under management include the assets of
the SPDR®® Gold ETF (approximately $34 billion as of March 31,
2014), for which State Street Global Markets, LLC, an affiliate of
SSgA, serves as the distribution agent.
CORP-1026
State Street CorporationAnne McNally, +1
617-664-8576aemcnally@statestreet.com@StateStreet
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