State Street’s Corporate Responsibility Report Highlights Goals for Improving Workforce Diversity & Reducing Environmental ...
May 14 2018 - 12:00PM
Business Wire
State Street Corporation (NYSE: STT) today announced the release
of its 2017 Corporate Responsibility (CR) report, which highlights
its commitment to the environment, corporate citizenship, as well
as diversity and inclusion.
“The world has changed dramatically since State Street’s
founding more than 225 years ago,” said Jay Hooley, State Street
chairman and CEO. “However, one constant for us is our commitment
to conducting our business in a responsible manner. I am proud of
the corporate responsibility accomplishments outlined in this
report, and we are focused on delivering against our goals for the
future.”
2017 Corporate Responsibility Report highlights
include:
Environmental
- State Street pledged to reduce its
greenhouse gas emissions by 30% (an increase over the 20% target
achieved in 2017), reduce water consumption by 10% per full-time
employee and achieve a recycling rate of 80%– all by 2025.
- State Street and its asset management
business, State Street Global Advisors, joined the Task Force on
Climate-related Financial Disclosures, a global initiative aimed at
improving the quality and consistency of corporate reporting on
climate-related financial risk. Over the course of four years,
State Street Global Advisors has also held over 240 climate-related
engagements with 168 companies.
- In 2017, State Street Global Advisors
engaged a total of 610 global companies representing more than 45%
of its total assets (12,291 in portfolio) on Environmental, Social
and Governance (ESG) issues. Of those engagements, 271 were on
environmental and social issues alone.
Corporate Citizenship
- State Street’s charitable arm, State
Street Foundation—which celebrated its 40th year in 2017—provided
US$20.3 million in grants to charitable organisations
worldwide.
- In addition, more than a fifth of State
Street employees participated in community volunteer activities,
devoting more than 123,000 hours of their time and talents to
charitable causes.
Diversity and Inclusion
- State Street signed the CEO Action for
Diversity and Inclusion pledge to welcome and respect diversity and
inclusion, and share best practices with its peers.
- The company completed its second set of
three-year diversity goals in 2017, achieving or exceeding those
goals in five of eight categories. For example, in 2014, 18% of our
US workforce at vice president (VP) level were employees of color;
we set a goal of increasing this to 22% by 2017, this was then
exceeded by 3% reaching 25% during this timeframe.
- State Street has now set new three- and
five-year goals to increase the number of women and employees of
color in management roles.
For the fourth year in a row, State Street also received 100
percent on the Human Rights Campaign’s Corporate Equality Index,
which benchmarks corporate policies and practices pertinent to
LGBT+ employees. In addition, State Street was recognized for the
representation of women on its board, receiving “W” company
certification from US national campaign group, ‘2020 Women on
Boards’. Within the UK, it was also recognized by national
newspaper, The Times as a ‘Top 50 Employer for Women’ for the fifth
year in a row.
To view full details, see State Street’s 2017 Corporate
Responsibility 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 $33.30 trillion in assets
under custody and administration and $2.70 trillion* in assets
under management as of March 31, 2018, 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 website at www.statestreet.com.
Marketing Communication
* Assets under management include the assets (approximately $36
billion as of March 31, 2018), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
2091676.1.1.GBL.PR
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
The information contained in this communication is not a
research recommendation or ‘investment research’ and is classified
as a ‘Marketing Communication’ in accordance with the Markets in
Financial Instruments Directive (2014/65/EU) or applicable Swiss
regulation. This means that this marketing communication (a) has
not been prepared in accordance with legal requirements designed to
promote the independence of investment research (b) is not subject
to any prohibition on dealing ahead of the dissemination of
investment research.
(c) State Street Corporation. All rights reserved.
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State Street CorporationBrendan Paul, +1
617-662-2903BPaul2@StateStreet.com@StateStreetorLydia Cambata, +44
203 395 7319LCambata@StateStreet.com@StateStreet
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