Our 2021 ESG Report describes State Street’s approach to environmental, social and governance (ESG) matters across our company and industry, and our impact on the communities in which we operate and the wider world.
2021 was a noteworthy year for ESG issues. A heightened focus on climate change, plus the continuing impact of COVID-19, drove ESG to the forefront for many industries, including financial services. Investors responded accordingly, demonstrating a growing desire to deploy capital with a sustainable purpose. Our 2021 ESG Report highlights our progress in many areas of ESG – from operating in an environmentally responsible way, to launching new ESG investment strategies, to making progress on our 10 Actions to Address Racism and Inequality, to enhancing our ESG governance structures.
Consistent with prior reporting, we measure and disclose our ESG activities according to frameworks created by the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the Global Reporting Initiative (GRI). This report also fulfills our obligations as a signatory to the United Nations (UN) Global Compact, and describes how our activities support progress toward the UN Sustainable Development Goals, and includes our most recent EEO-1 disclosure.
There is still much work to be done to achieve consistent, comparable and verifiable ESG reporting across sectors and companies. But we welcome the increased engagement of market participants to unify disclosure standards and are proud to be part of those efforts.