State Street Releases 2018 Corporate Responsibility Report
July 11 2019 - 3:47PM
Business Wire
State Street Corporation (NYSE: STT) today
announced the release of its annual Corporate Responsibility (CR)
report for 2018, which highlights the company’s commitment to
environmental, social and governance (ESG) principals, responsible
investing, diversity and inclusion and corporate citizenship.
“Corporate responsibility is integral to how we conduct
business, as both a servicer and manager of global investments,”
said Rick Lacaille, global chief Investment Officer of State Street
Global Advisors and chairman of State Street’s Executive Corporate
Responsibility Committee. “Our focus is on creating long-term value
for our clients, employees, shareholders and the communities we
serve. I am proud of the progress we have made over the last year
and look forward to achieving even more in 2019.”
Highlights of the report include:
- The launch of a multi-year transition to monitor and disclose
material ESG risks to our business. By aligning our corporate
responsibility reporting with the Sustainability Accounting
Standards Board (SASB) framework and the Task Force on
Climate-related Financial Disclosures (TCFD), we’re focused on the
issues most likely to materially impact our performance
- To address the ESG data challenge, State Street Global Advisors
launched R-FactorTM, an ESG scoring system that uses
widely adopted materiality frameworks to generate ESG scores for
listed companies
- Since the launch of Fearless Girl in 2017, more than 423
companies have added a female director to their boards that
previously had none, and 22 companies have pledged to do so.
Continuing that commitment, State Street Global Advisors is calling
on portfolio companies to disclose gender diversity at all levels
of management. Because diversity on boards starts with a more
diverse workforce
Environmental Sustainability
- In 2017, we set new, quantifiable 2025 goals. In 2018, we
surpassed our goal to reduce water consumption by 10% per person,
achieving a 14% reduction; we reduced our carbon dioxide emissions
by 27%, well toward our 30% goal, and achieved a recycling rate of
67% globally
- Our renewable energy credit (REC) purchases funded several
innovative environmental improvement programs such as the Paradigm
Healthy Cookstoves and Water Treatment Project in Kenya and clean
power via windfarms in the US, Poland and India
- Our tax-advantaged investments group committed $139 million to
renewable energy projects in 2018 including energy storage, solar
power and offshore wind
Corporate Citizenship
- In its first three years since inception, our Boston WINs
partnership provided college- and career-readiness services to more
than 29,500 students — a 63% increase since the program’s
launch
- To encourage more women to pursue Science, Technology,
Engineering and Math (STEM) careers, our Foundation grant to the
United Way in Hyderabad, India will enhance STEM education offered
to women in 11 schools, benefiting 4,500 students
- Our community support comes to life through our more than
40,000 employees worldwide. In 2018, we recorded $5.1 million in
employee matching gifts and 112,000 employee volunteer hours
To view full details and learn more about State Street’s
commitment to corporate responsibility, click here to
visit the new mircosite.
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 $32.6 trillion in assets
under custody and administration and $2.8 trillion* in assets under
management as of March 31, 2019, State Street operates globally in
more than 100 geographic markets and employs approximately 40,000
worldwide. For more information, visit State Street's website at
www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33
billion as of March 31, 2019), for 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.
The whole or any part of this work may not be reproduced, copied
or transmitted or any of its contents disclosed to third parties
without State Street’s express written consent.
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.
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 7/31/2020
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Kerri Doherty +1 617 664 1898 KCDoherty@statestreet.com
@StateStreet
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