Corporate Responsibility Policies

The way we do business is led by a set of policies that reflect our beliefs. By committing to integrity, social and environmental stewardship, human rights, and responsible conduct, we seek to benefit our clients and strengthen our communities.

Standards of Conduct

Corporate Responsibility Policy Statement

State Street's commitment to social and environmental responsibility and our belief in giving back to the communities in which we live and work are critical to our long-term success. We recognize that sustainable growth comes from operating with absolute integrity and in a way that respects our shareholders, clients, employees, communities and the environment.

We are committed to the principles of sound governance and to helping our clients succeed. We are dedicated to ensuring a global and inclusive workplace where employees feel valued and engaged. We believe we have a responsibility to enrich our communities, and to be a leader in environmental sustainability, both in the way we carry out our operations and in the products and services we offer.

Human Rights Statement

State Street Corporation supports fundamental principles of human rights, such as those adopted in the United Nations Universal Declaration of Human Rights.  We believe that upholding these principles is an important component of our culture and values.  As a signatory to the United Nations Global Compact (UNGC), we confirmed our support of the UNGC’s ten principles and our intent to advance those principles within our organization.

State Street’s future success is built on talent, culture, innovation and risk excellence.  We rely on our employees to represent and promote these critical characteristics and believe they are bolstered by diversity, inclusion and an environment that respects the dignity of all of our employees.  We want to support a workplace where people of all backgrounds and experiences can succeed.  We strive to increase the diversity of our workforce and the inclusiveness of our culture through a variety of employee resources and programs.

Our commitment to promoting an inclusive, safe and ethical workplace is expressed within the provisions of our employee Standard of Conduct and across our compliance, human resources and other corporate policies. We maintain policies designed to comply with local laws concerning employment and individuals’ rights in every country in which we operate.  We do not tolerate unlawful discrimination or harassment in any form. We are committed to providing equal employment opportunity to all qualified persons.

State Street has policies designed to prevent the illegal use of our products and services, including those that may result in human rights violations.  Our employees receive training on preventing money laundering, bribery and corruption and are expected to follow “know your customer” standards. Our employees have a duty to report actual or possible violations of policy or law, and we prohibit unlawful retaliation against employees who make such a report in good faith.

We expect the vendors with whom we interact to bear a responsibility to define their own policies with regard to human rights, while making them aware of our standards. At a minimum, we expect suppliers and their supply chain to comply fully with all applicable laws and regulations in the conduct of their business as well to meet appropriate standards related to labor practices, wages and workplace safety. Where practical, we also work with our vendors to encourage the utilization of responsibly and sustainably produced goods and services.

Our commitment to fair, ethical and responsible business practices is central to our way ahead.

(Revised June 2016)

Modern Slavery Act Statement  

This statement is made pursuant to Section 54 of the Modern Slavery Act 2015 (UK) in respect of the following subsidiaries of State Street Corporation:

  • State Street Bank & Trust Company;
  • State Street Global Advisors Limited;
  • State Street International Bank GmbH; and
  • State Street Europe Limited (together “State Street” or “We”).

State Street provides custody, depositary, investment, research and fund accounting, fund administration, asset management, investment banking and alternative investment services.

State Street is committed to fair, ethical and responsible business practices. We recognize that the risk of slavery or human trafficking exists in any supply chain and are taking steps to reduce that risk.

State Street supports fundamental principles of human rights, such as those adopted in the United Nations’ Universal Declaration of Human Rights. We believe that upholding these principles is an important component of our culture and values. As a signatory to the United Nations Global Compact (UNGC), we have confirmed our support of the UNGC’s ten principles and our intent to advance those principles within our organization, which include those principles relating to human rights abuses and forced labor.  

Our commitment to fair, ethical and responsible business practices is central to our way ahead.

Supply chain standards

We expect our suppliers and their supply chain to comply fully with all applicable laws and regulations in the conduct of their business; therefore although respecting human rights and environmental issues in the supply chain is ultimately our suppliers’ responsibility, we have taken the following steps to communicate clearly our expectations to our suppliers.

As part of the supplier due diligence process managed by our global procurement services team,  potential suppliers are asked to confirm whether they have a policy in place prohibiting child and/or forced labor, whether the policy extends to their own suppliers and subcontractors, and to provide a copy of the policy. Those potential suppliers are also asked for information about social compliance audits of their own suppliers and subcontractors, with particular reference to significant risks for incidents of child labor. That due diligence process also seeks information about a potential supplier’s equal opportunity, human rights, anti-corruption, and health and safety policies.

Since 21 June 2016, our global procurement services team is specifically asking potential suppliers to confirm their compliance with human rights laws, rules and regulations including the Modern Slavery Act 2015. Those potential suppliers are also being asked to provide information about how they monitor and comply with those legal standards.

Suppliers who are subject to our standard supplier agreement are asked to represent and warrant that they comply with all applicable laws, regulations and other legal obligations to their personnel specifically including, but not limited to, employment laws, and prohibitions against insider trading, bribery and corruption.

Additionally, from 22 March 2016, suppliers who are engaged using our standard supplier agreement have been asked to confirm that they:  

  • have not committed or been notified that they have been placed under investigation for any offences relating to human trafficking and/or slavery;
  • are not aware of any circumstances within their supply chain that could give rise to an investigation or a prosecution; and
  • will comply with the Modern Slavery Act 2015 and other legal standards relating to human trafficking and/or slavery.

Those suppliers are asked to notify us immediately if those circumstances change. Additionally, the standard supplier agreement asks them to provide us with an annual slavery and human trafficking report setting out the steps they have taken to ensure that slavery and/or human trafficking is not taking place in any of their supply chains or in any part of their business.

Executive sign off
Jeff Conway
Chief Executive Officer, Europe, the Middle East and Asia