ReportAlert.info - State Street Corporation (NYSE:STT) Publishes 2013 Corporate Responsibility Report
The report, marks nine consecutive years that the company has publicly reported on its environmental, social and governance (ESG) performance
State Street Announces New Environmental Sustainability Goals, Strategic Approach for Corporate Responsibility and Discloses on G4 Reporting Framework
Boston, May 29, 2014 /3BL Media/ — State Street today announced the release of its 2013 Corporate Responsibility (CR) Report, marking eleven consecutive years that State Street has publicly reported on its environmental, social and governance (ESG) performance. The report is published online at www.statestreet.com. Together with their clients, State Street builds the foundations for the financial security and retirements of billions of people. That’s why they’re committed to creating economic value for clients, communities and society.
State Street embedded a holistic approach to CR with the completion of a comprehensive materiality assessment. The topics in the materiality assessment were based on the sustainability reporting guidelines provided by the Global Reporting Initiative (GRI), the ISO 26000 Guidance on Social Responsibility and topics identified in the Sustainability Accounting Standards Board (SASB) initiative. The company’s CR Report adheres to the Global Reporting Initiative’s G4 Reporting Guidelines and was independently verified against the AA1000 principles of inclusivity.
Beyond materiality, State Street achieved major CR milestones with the completion of ISO14001 certifications for 85 percent of its operations, globally. ISO14001 is an internationally recognized management tool for environmental impact identification and performance improvement. Last year, State Street set specific targets in this regard by 2020 (baseline 2012): reduction in carbon emissions (-20%); Reduction in water consumption (-20%); Waste reduction: zero waste to landfill. State Street engages employees worldwide in Green Teams covering 79 percent of the employee population.
Key highlights of the past year’s performance include:
- As of January 31, 2013, Environmental Social & Governance assets under management at State Street Global Advisors were at an all-time high of $203.7 billion
- State Street received nearly the highest rating at AA through MSCI’s ESG risk assessment
- Over the past two years, the company has grown its investment in renewable energy projects to more than $400 million
- The State Street Foundation made $19.6 million in grants to charitable organizations in 40 communities around the world
