BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), the world's leading provider
of financial services to institutional investors, today announced the
release of its fifth annual 2007 Corporate Social Responsibility (CSR)
Report, focusing this year on the theme of environmental and community
sustainability throughout the company.
As transparency, corporate social responsibility and environmental
social and governance investing (ESG) continue to surface as
increasingly important issues in the global business community, State
Street retained an independent assurance verification firm to verify
its 2007 CSR Report. State Street is one of the first US-based
financial services firms to undergo independent assurance verification
of its annual CSR report.
State Street included external feedback into content of the report
through a stakeholder team organized by Ceres, a Boston-based
environmental advocacy organization. A 15-member group reviewed the
report at two stages of the reporting process and provided feedback on
presentation, content and materiality. This is the second year State
Street has enlisted the Ceres stakeholder team, which is comprised of
socially responsible investors, labor specialists, environmentalists,
academics and nonprofit leaders.
"We are especially proud of the 2007 Corporate Social
Responsibility Report," said George Russell, executive vice president
of State Street Corporation. "It demonstrates our commitment to
operating with integrity, improving our environmental performance and
having a positive impact on our employees and our communities. The
report verification process demonstrates that we take CSR seriously
and want our performance to be transparent to all our stakeholders."
Highlights of the 2007 CSR Report include State Street's new Human
Rights Statement and expanded environmental reporting. The Human
Rights Statement was developed last year by the company's CSR Working
Group, an organization-wide committee that drives State Street's
sustainability (environmental, social and governance) issues and
provides policy recommendations. Last year the company launched its
environmental management system to its North American offices and
expanded tracking in Massachusetts to include energy, electric and
water usage, recycled paper and waste. This system is currently
launching in State Street's European offices and is expected to be
implemented in the Asia-Pacific region in 2009.
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $15 trillion in assets under custody and $2 trillion
in assets under management at March 31, 2008, State Street operates in
26 countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
Rachel Riccardella, +1 617-664-3576