State Street’s Corporate Responsibility Report Highlights Commitments to Strengthening Local Communities, Protecting the Environment and Promoting Responsible Investing10/06/2016
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“At State Street, corporate responsibility is firmly ingrained in our culture and critical to our success. Being a responsible corporate citizen and making a positive impact on a global scale is a top priority for us and our key stakeholders — our employees, our clients, our shareholders and society at large.” – Joseph L. Hooley, Chairman and Chief Executive Officer
State Street’s 2015 Corporate Responsibility Report highlights how corporate responsibility is infused across our strategy. By investing with impact, protecting the environment and making community connections, we are upholding our corporate values.
Highlights from our 2015 performance include:
ESG Financial Solutions: We’re proud to be a leader in helping investors incorporate environmental, social and governance (ESG) factors into their decisions. We first started managing ESG portfolios in 1986. As of the end of 2015, we offer 17 ESG products to our clients and support more than $168.4 billion in ESG assets under management. From the launch of our new fossil fuel-free ETF in 2015 to working closely with clients to help them finance sustainable municipal projects, we remain committed to creating change through investments.
Environmental Sustainability: Protecting the environment while supporting sustainable development is a major priority for us. This year, we made strong progress against our 2020 environmental goals, lowering both our CO2 emissions and water consumption by 17 percent and closing in on our goal of drastically reducing waste to landfills.
Strengthening Communities: The strength of our business is directly linked to the well-being of the communities in which we operate. Through our Giving, Investing and Volunteering by Employees (GIVE) program, our employees devoted more than 116,000 hours to charitable causes, a 9% increase from 2014. The State Street Foundation made $22.7 million in contributions to non-profits in 2015, including matching employee contributions of $4.15 million to 2,222 charitable organizations. And the Foundation’s focus on education and workforce development became even sharper with the launch of our Boston WINs initiative.
Diversity and Inclusion: Building a diverse workforce and an inclusive environment are essential elements of our culture. To make sure our workforce represents the clients and communities we serve, we’ve set goals to increase diversity by the end of 2017, and we’ve made measuring progress on diversity and inclusion part of the annual performance review for all managers.
Risk Excellence: As a financial services provider, it’s more important than ever that our stakeholders see us as a trusted partner. To earn, and keep, this trust, we must hold ourselves to the highest possible standards. It’s our fundamental belief that over the long term, financial institutions that operate ethically and successfully manage risk excellence will distinguish themselves in the marketplace. In 2015, we took a significant step to achieve this by launching a program on risk excellence, including an emphasis on the importance of speaking up and dealing transparently with issues.
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