State Street's 2012 Corporate Responsibility Report Highlights ESG Accomplishments and Goals
BOSTON--(BUSINESS WIRE)-- State Street Corporation (NYS: STT) today announced the release of its 2012 corporate responsibility (CR) report, which marks the tenth consecutive year of Environmental, Social, and Governance reporting.
"In today's competitive financial services industry, companies that create value for their stakeholders are the most likely to succeed," said Alison Quirk, executive vice president and chief human resources and citizenship officer. "Corporate citizenship reinforces our commitment to our stakeholders and a sustainable future."
Highlights for 2012 include:
Environmental Sustainability Accomplishments
- State Street achieved ISO 14001 certification, a global standard for environmental management systems, for seven of its office buildings, bringing the total number with this certification to ten
- State Street's manager initiated Flexible Work program saved a combined total of 190,000 miles of driving per week, eliminating 3,485 metric tons (mt) of greenhouse gas emissions
- Since 2010, State Street has reduced its carbon footprint by increasing renewable energy purchases by 81%, equaling 199 gigawatt-hours
Philanthropy and Volunteerism Accomplishments
- The International Association for Volunteer Effort presented State Street with their inaugural Global Volunteer Program Award, which recognizes a global company with an exemplary approach to global corporate volunteering
- State Street employees volunteered more than 87,000 hours to nonprofit organizations and the State Street Foundation invested $21.3 million globally on workforce development
- At Number 14, State Street is the only financial services company on Newsweek's "Most Transparent Companies in the US" list
- Forbes named State Street, "America's Best Bank" in 2012, reinforcing the ability to influence how the financial sector approaches CR
- State Street became a signatory to the United Nations' Principals for Responsible Investment, which support considering ESG issues in investment decisions. At year-end 2012, State Street Global Advisors managed $146 billion in assets incorporating ESG factors, accounting for seven percent of total assets under management
"We are dedicated to making better decisions that create a meaningful difference and positively impact our employees and the communities where we live and work," added Quirk. "I'm proud of our progress in 2012 towards making CR truly part of our business."
The corporate responsibility report can be accessed through State Street's Making Life Better portal (statestreet.com/better), an interactive website that highlights the company's commitment to corporate citizenship.
About State Street Corporation
State Street Corporation (NYS: 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 $25.4 trillion in assets under custody and administration and $2.2 trillion in assets under management at March 31, 2013, State Street operates in more than 100 geographic markets worldwide, including the U.S., Canada, Europe, the Middle East and Asia. For more information, visit State Street's web site at www.statestreet.com.
This AUM includes the assets of the SPDR Gold Trust (approx. $62.7 billion as of March 31, 2013), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.
State Street Corporation
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