2022 ESG Report

Our 2022 Environmental, Social and Governance (ESG) Report sets out State Street’s approach to managing and measuring ESG considerations.

2022 was an especially dynamic year in the ESG space, marked by several significant events, including Russia’s invasion of Ukraine in February and the war’s impact on fuel prices, transition finance planning, ESG ratings, and ESG-focused exclusionary investment screening.

Across our business lines in 2022, we supported our clients in their navigation of the evolving ESG landscape, offering investment solutions and reporting tools along with products to meet the wide and growing range of client needs, while managing ESG efforts within our own operations.

We continued to progress our corporate ESG agenda through the launch of our inaugural Sustainability Bond Framework and issuance of our first Sustainability Bond, maintained carbon neutrality on Scope 1 and Scope 2 emissions, and advanced the goals of our 10 Actions to Address Racism and Inequality. Our investment management business, State Street Global Advisors, extended proxy voting choice to more index fund investors, which will enable those investors to direct how shares they hold in index funds are voted. 

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 fulfils our obligations as a signatory to the United Nations (UN) Global Compact, describes how our activities support progress toward the UN Sustainable Development Goals, and includes our most recent EEO-1 disclosure.

During a year in which the topic of ESG spurred divided political and policymaker views, particularly in the United States, we maintained our commitment to ESG and remained consistent in our approach, which is underpinned by value.