2023 Sustainability Report

2023 Sustainability Report

State Street's purpose is clear: To help create better outcomes for the world’s investors and the people they serve. As one of the world’s largest service providers and managers of institutional assets, our success depends on the success of our stakeholders — our clients, employees, investors, and the communities we serve.

May 2024

Over the past year, we have made progress across a number of areas that we believe contribute to long-term value creation for State Street and our shareholders. As a corporation, we continue to focus on the impact of our operational footprint, particularly for our buildings. For example, our new global headquarters in Boston and our operations and cyber fusion center in Kilkenny, Ireland, both of which opened last year, surpass industry standards across leading wellness and green building certification programs, including the US Green Building Council’s LEED certification.

The issuance of our first bond under the Sustainability Bond Framework in late 2022 reinforced our commitment to sustainable development across a variety of areas while also efficiently raising capital. As of September 30, 2023 (when our first Sustainability Bond Report was published), we had allocated an amount equivalent to US$365.8 million to sustainability projects that support one or more of the UN’s Sustainable Development Goals, and are areas in which we can be impactful.

Sustainability and impact necessarily include building capabilities. As a bank, we frequently raise capital, relying on our traditional investment banking partners. To aid further capabilities development, promote economic empowerment and foster entrepreneurship, State Street for the last several years has partnered with diverse-owned firms to underwrite our senior debt. Our debt issuances have included various minority-, women- and veteran-owned firms in our syndicates and as lead bookrunners. We are proud of these efforts and have seen strong outcomes, with diverse-owned firms having underwritten nearly 40 percent of the approximately US$10 billion of State Street-issued publicly offered debt from 2021 through 2023.


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