This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

State Street’s 2011 Corporate Responsibility Report Highlights Reduced Environmental Footprint, Increased Philanthropy And Volunteerism

State Street Corporation (NYSE: STT) today announced the release of its full 2011 corporate responsibility report. Published annually since 2004, the report highlights the company’s environmental, social and governance (ESG) performance over the past year, and its goals for the future.

“Corporate responsibility is highly valued by our global client base who recognize its role in helping to drive innovation,” said chairman, president and chief executive officer, Jay Hooley. “From reduction of waste, water and carbon emissions to volunteering and charitable giving, it is integral to our values that we not only continue to minimize our environmental footprint, but also give back to the communities in which we and our clients operate.”

Highlights for 2011 include:

Environmental Sustainability accomplishments

  • State Street lessened its carbon dioxide emissions by 24,500 metric tons through the use of cloud computing.
  • State Street’s energy efficiency initiatives which included installing more than 2,000 efficient, light-emitting diode (LED) lights in our Massachusetts offices as well as modifying infrastructure equipment saved 11.84 million kilowatt-hours of electricity, $1.69 million, and an estimated 6,788 metric tons of carbon emissions.
  • A manager-initiated flex work program, launched at State Street in 2011, resulted in 1,574 new flex work arrangements. Employees participating in this environmentally and family-friendly program self-reported savings of more than 140,000 miles driven per week by the end of the year.
  • State Street also achieved ISO 14001 certification at its flagship buildings in Dublin, Edinburgh and London, a global standard that provides a framework for managing environmental responsibilities.

Philanthropy and Volunteerism Accomplishments

  • State Street’s charitable contributions rose 15 percent to $20.5 million from $17.8 million in 2010.
  • State Street matched $2,170,000 of employee charitable gifts, a seven percent increase from $2,027,000 in 2010.
  • The total number of employee volunteer hours grew to eight percent, totaling 85,000 hours and valued at $1.85 million.
  • Launched in fall 2011, State Street’s inaugural Global Giving Campaign, a six-week company-wide initiative focused on education, raised $3.5 million in gifts to participating charities worldwide.

Business Accomplishments

  • State Street Global Advisors (SSgA), State Street’s investment management business launched a new High Quality Green Bond strategy during 2011 that offers investors a way to direct fixed income investments to climate solutions through a portfolio of green bonds managed by SSgA.
  • At year-end 2011 SSgA managed $108 billion in assets incorporating ESG factors.

“We continue to take steps to further align our corporate responsibility strategy with State Street’s core value to be a global force and local citizen,” said George Russell, State Street’s director of Corporate Citizenship and president of the State Street Foundation. “Transparency and accountability are critical to this objective for which the publication of our annual Corporate Responsibility report is an important milestone”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs