2 0 2 2 S U S T A I N A B I L I T Y B O N D F R A M E W O R K 1 3
investment or project must meet State Streets eligibility criteria set forth in this Framework while not triggering the exclusionary criteria detailed below (collectively,
the eligibility criteria). Each expenditure, investment or project (collectively, the ESG Bond project portfolio) will be recommended by State Streets ESG Bond Working Group (EBWG) and approved by State Streets
ESG Bond Issuance Committee (EBIC). The ESG Bond project portfolio will then be monitored by both the EBWG and the EBIC on at least a quarterly basis.
The EBWG
manages all activities related to project evaluation and selection, management of proceeds; and reporting and is responsible for reviewing, confirming, and screening potentially eligible projects tagged to either or both eligible Green Projects
and/or eligible Social Projects. The EBWG includes representation from Global Treasury, Global ESG, Global Inclusion Diversity Equity, Global Credit Finance, Tax-Advantaged Investments, Global Supplier Diversity, State Street Foundation, Legal,
Controller, Compliance, Corporate Audit, Enterprise Risk Management, Investor Relations, Corporate Communication & Marketing, and other relevant business teams.
The EBIC is responsible for the review, approval, and oversight of all State Street Green, Social and Sustainability Bond issuances executed by Global Treasury,
with the underlying use of the bond proceeds managed by the individual business teams within the committee. The EBIC is responsible for the Framework and all EBWG activities. The EBIC includes senior representation from the following State Street
teams: Global Treasury, Global ESG, Global Inclusion Diversity Equity, Global Credit Finance, Tax-Advantaged Investments, Global Supplier Diversity, State Street Foundation, Legal,
Controller, Compliance, Corporate Audit, Enterprise Risk Management, Investor Relations, Corporate Communication & Marketing, and other relevant business teams.
Any changes to the eligibility criteria or the ESG Bond project portfolio will be managed and reviewed by the EBWG and approved by the EBIC.
Exclusion Criteria
State Street will not knowingly allocate the proceeds of any Green, Social
or Sustainability Bond issuance to activities related directly to:
The exploration, production of, or transportation of fossil fuels (e.g. coal, oil, gas)
The exploitation of human rights including modern slavery, servitude, forced or compulsory labor (including child labor), and human trafficking
Private, for-profit prisons and immigration detention centers
Weapons
Gambling
Adult Entertainment
Tobacco
Alcohol