State Street’s Corporate Responsibility Report Highlights Philanthropy, Volunteerism and ESG Accomplishments in 2014
May 12 2015 - 8:30AM
Business Wire
State Street Corporation (NYSE: STT) today announced the release
of its 2014 Corporate Responsibility (CR) report, which highlights
the company’s commitment to economic development, environmental
sustainability and social governance and engagement.
“Corporate responsibility is a fundamental part of our values
and culture,” said Alison Quirk, executive vice president and chief
human resources and citizenship officer. “We believe that the
long-term success of our company is directly tied to positively
impacting the communities where we live and work.”
Highlights of the 2014 corporate responsibility report
include:
Environmental, Social and Governance
- State Street signed the United Nations
Global Compact, a global initiative whose signatories share the
conviction that responsible business practices contribute to a more
stable, equitable and inclusive global market and help build
prosperous societies. By signing the compact, State Street
committed to align its business operations and strategy with 10
universally accepted principles in the areas of human rights,
labor, the environment and anti-corruption.
- In December 2014, State Street Global
Advisors introduced the first low-carbon ETF product, LOWC.
Developed in conjunction with the United Nations Joint Staff
Pension Fund, LOWC is a new ETF that seeks to provide investment
results that, before fees and expenses, correspond generally to the
total return performance of the MSCI ACWI Low Carbon Target
Index.
- At the end of 2014, close to $220
billion in ESG assets were being managed on behalf of clients.
Philanthropy and Volunteerism
- Since 2010, State Street has focused
charitable giving on education and workforce development and has
partnered with non-profit organizations that prepare young people
and adults from low-income urban neighborhoods for professional
jobs.
- Our State Street Foundation invested
$18.8 million in grants to non-profit organizations around the
world. A sampling of our investment outcomes in EMEA and North
America report permanent job placements for more than 4,000
underserved individuals.
- State Street matched employee
contributions of more than $3 million to more than 2,000 charitable
organizations.
- During the year employees devoted more
than 100,000 hours of their time to charitable causes.
Environmental Sustainability
- State Street adopted an Environmental
Sustainability Policy, a Climate Change statement and a set of
20/20 goals that outline targets for 20 percent reductions in
greenhouse gas emission and water usage, and zero waste to
landfills by January 1, 2020.
- State Street reduced water consumption
per employee by 13 percent reduction, and also achieved a 6 percent
reduction in carbon emissions.
- Two additional facilities attained ISO
14001 certification in 2014, bringing the number of State Street
facilities with this designation to 16 out of 19.
- The new Channel Center building in
Boston, with its open work environment, energy-efficient use of
natural light and access to green space, has become State Street’s
global standard for new and redesigned buildings.
Click here to access the full corporate responsibility report on
State Street’s website.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading provider of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $28.5 trillion in assets
under custody and administration and $2.4 trillion* in assets under
management as of March 31, 2015, State Street operates in more than
100 geographic markets worldwide, including the US, 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 $28 billion as of March 31, 2015), for which
State Street Global Markets, LLC, an affiliate of SSgA, serves as
the distribution agent.
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Distributor: State Street Global Markets, LLC, member FINRA,
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CORP-1423
State Street CorporationBrendan Paul,
+1-617-662-2903Bpaul2@statestreet.com@StateStreet
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