State Street Achieves Its Environmental Goals Three Years Ahead of Schedule & Details Corporate Responsibility Practices in A...
May 10 2017 - 3:16PM
Business Wire
Company Named to CR Magazine’s 100 Best Corporate Citizens List,
Ranked Highest Among Banks
State Street Corporation (NYSE: STT) today announced the release
of its 2016 Corporate Responsibility (CR) report, which highlights
the company’s commitment to corporate citizenship, and
environmental, social and governance (ESG) activities. The report
details how State Street exceeded its environmental goals set for
2020, three years ahead of schedule, including reducing greenhouse
gas emissions and water use by 20 percent per person, and diverting
90 percent of waste sent to landfills. State Street was recently
included on CR Magazine’s 100 Best Corporate Citizens list for
2017, jumping 30 spots since last year. The company ranked highest
among banks included on the list.
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“At State Street, corporate responsibility is central to our
culture and core values,” said Jay Hooley, chairman and chief
executive officer of State Street. “As a company celebrating its
225th year, we are very proud of the steps we have taken to advance
innovative ESG efforts across the globe as they become increasingly
integral to the long-term success of our clients, our business and
the communities in which we operate.”
2016 Corporate Responsibility Highlights Include:
- State Street is now aligning with new
industry best practice of using data-driven, Science-Based Targets
to measure greenhouse gas emissions. Strong progress has been made
against the company’s goal for 2025 of reducing our greenhouse gas
emissions by 30 percent. (Click here to see how State Street is
managing its carbon footprint.)
- The Boston Workforce Investment Network
(WINs) program, State Street’s four-year, $20 million effort to
advance job readiness and create meaningful career pathways for
Boston Youth employed 233 Boston WINs-students, hired 827 interns
and trainees through the partner WINs organizations, and launched
three new mentoring programs by the end of 2016. The program is now
present in 20 Boston Public High Schools.
- Employees recorded a record-breaking
120,000 volunteer hours and claimed $4.1 million through State
Street’s matching gifts program – both increases from 2015.
- State Street significantly increased
annual investment in compliance, audit and risk management and
adopted a comprehensive compliance framework across the company,
including doubling the size of its compliance staff and making risk
management part of each employee’s annual performance ratings.
- ESG is now integrated into State
Street’s vendor selection process, factoring in ethical business
practices, economic impact, environmental stewardship and broader
social issues such as human trafficking and slavery.
- State Street created a proprietary
gender diversity index and ETF. A percentage of the revenue from
the ETF is being directed to organizations and programs that
inspire and equip girls and young women to be future business
leaders.
“We know that over the long term ESG issues can have a material
impact on a company’s ability to thrive financially, grow, recruit
and retain good talent, and benefit the broader community, said
Rick Lacaille, global chief investment officer at State Street
Global Advisors and chairman of State Street’s Executive Corporate
Responsibility Committee. “With more than 30,000 employees and
offices in 30 countries, we help steward and safe-keep assets for
investors, including managing the retirement savings of more than
13 million people. Our activities must reflect the complexity of
our impacts. We’re excited to rise to this challenge and manage our
impact the right way.”
Click here to read 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 providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $29.83 trillion in assets
under custody and administration and over $2 trillion* in assets
under management as of March 31, 2017, State Street operates
globally in more than 100 geographic markets. For more information,
visit State Street's website at www.statestreet.com.
*AUM reflects approx. $33.33 billion (as of March 31, 2017) with
respect to which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street
Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2017 State Street Corporation - All Rights
ReservedCORP-2922
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State Street CorporationJulie Kane, +1
617-664-3001JEKane@statestreet.com@StateStreet
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