At State Street, we are committed to increasing the economic well-being of our communities, both in the United States and globally.
Our Corporate Citizenship group and the State Street Foundation, Inc., the company’s charitable grantmaking arm, help equip less-advantaged citizens with the skills they need to succeed.
Every year, State Street devotes a portion of its pre-tax profits to the State Street Foundation. In turn, the foundation invests in communities through a strategic grantmaking program, an annual employee giving campaign and our Matching Gift Program.
We manage giving programs at 38 sites and 25 countries in Africa, Asia, Australia, Europe, Japan and North America. In our offices around the world, our employees volunteer to serve on regional committees that identify community needs and partner with local charities to implement real change.
Helping our employees do more
Our employees are passionate about giving. State Street’s Matching Gift Program helps make the most of their charitable donations in three ways:
> GiveMore — Matches their financial contributions
> CollectMore — Matches their fulfilled fundraising pledges
> DoMore — Matches their volunteer time
We also promote giving through State Street’s Global Giving Campaign, which brings our employees together from around the world to support the charitable cause of their choice. For the campaign’s first year we focused on education, a factor our employees believe is one of the most important in the world today. Whether fighting against poverty and hunger, supporting human rights, or promoting sustainable development, education is essential. Simply put, it helps make life better for everyone. Over a six-week period in 2011, our employees donated their time, energy and money to a variety of educationally focused charities worldwide.
Extending our support with community outreach
Through our Global Outreach employee volunteer program, State Street enables community organizations to draw on the resources and talents of our employees. In 2010, our employees around the world devoted 78,000 hours to community outreach activities.
Our current employees aren’t the only State Street volunteers with a tireless community commitment. In Massachusetts, for example, we offer the Spirit of State Street alumni volunteer program for retired and former employees, and provide summer jobs to high school students in Boston. In many of the markets where we do business, we sponsor charitable fundraising events and make contributions to small business and affordable housing investment funds. Our procurement division also manages a highly successful Supplier Diversity Program.
Earning high ratings for community support
Because State Street is classified as a wholesale bank under US Community Reinvestment Act (CRA) regulations, we are evaluated every two years on how well we meet the needs of the communities in which we operate — particularly in low- and moderate-income neighborhoods.
Reducing our impact on the environment
At State Street, we are working to impact our community in several ways — including by better managing our environmental footprint. In 2003, we issued our first Corporate Environmental Sustainability Policy Statement. In 2008, we established our Office of Environmental Sustainability, which spearheaded the roll out of our Environmental Management System to all of our offices globally.
These efforts have gained us industry-wide recognition. State Street is currently listed on the Dow Jones Sustainability Index’s World and North American Indexes, the FTSE4Good Index and the Carbon Disclosure Project’s S&P500 Leadership Index. For more information on our awards and rankings, please click here.
We know that being a responsible corporate citizen contributes to our success as a global company and is essential to our long-term sustainability. To learn more about State Street's commitment to corporate social responsibility (CSR) and to read our CSR Overview and full report, please click here.
