State Street Achieves a Bronze Rating in Business in the Community’s 9th Corporate Responsibility Index

Wednesday, June 8, 2011 8:08 am EDT

Dateline:

LONDON
"We are proud to be included in BITC’s Corporate Responsibility Index for the first time this year"

State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that it has achieved a bronze rating in Business in the Community’s (BITC) 2011 Corporate Responsibility Index (CRI), the UK’s leading voluntary benchmark of corporate responsibility.

The CRI helps companies to integrate and improve corporate responsibility throughout their business operations by providing a systematic approach to managing, measuring and reporting on business impacts in society and on the environment.

Achieving a bronze rating means that State Street has demonstrated a clear outline of its mission, values and corporate responsibility principles, with clear roles and responsibilities being allocated right across its business. The bronze performance band is also an indication that State Street is at the early stages of environmental and social data collation and public reporting.

“We are proud to be included in BITC’s Corporate Responsibility Index for the first time this year,” said George A Russell Jr., Executive Vice President and Head of Corporate Citizenship at State Street. “We have built on the strong foundation of our community support programs to develop a comprehensive approach to corporate responsibility and reporting and look forward to continuing our work with BITC to better inform our strategy in the future.”

Stephen Howard, Chief Executive, Business in the Community said: “I congratulate State Street on achieving a bronze rating in the 2011 BITC Corporate Responsibility Index. It is a challenging time, but the results of this year’s Index demonstrate that companies are still focused on transforming their businesses in order to have a positive impact on society. All the companies that participated this year are at different stages in their responsible business journey, but they are all taking these issues seriously and are prepared to lead by example.”

The full results of the 2011 CRI, including commentary and analysis, are published in the Financial Times Responsible Business supplement today (8 June 2011).

State Street’s 2010 Corporate Responsibility Report can be found online at www.statestreet.com/cr.

Notes

For more information, please contact Elena Espinoza, CR Index Coordinator, Business in the Community: 020 7566 8795 / elena.espinoza@bitc.org.uk

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $22.6 trillion in assets under custody and administration and $2.1 trillion* in assets under management at March 31, 2011, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.

About the CR Index

Business in the Community's CR Index is the UK’s leading voluntary benchmark of corporate responsibility (CR). It helps companies to integrate and improve CR throughout their operations by providing a systematic approach to managing, measuring and reporting on business impacts in society and on the environment.

For the past seven years the CR Index has inspired and challenged over 350 companies to continuously improve their impact on society and the environment. This year we expect to have more than 100 companies participate publicly and use our tool to both improve their management practices and communicate to stakeholders how seriously they take their CR agenda.

Business in the Community stands for responsible business.

We are a business-led charity with a growing membership of 850 companies, from large multinational household names to small local businesses and public sector organisations.

We advise, support and challenge our members to create a sustainable future for society and to improve business performance.

Our members work with us to define what responsibility looks like in the workplace, marketplace, community and the environment - and we share what we learn about driving performance through responsible business practice.

www.bitc.org.uk

The Index bandings explained:

Platinum Plus

Platinum Plus was a new process introduced in 2009 to evaluate the extent to which the commercial business strategy is underpinned by thinking around long term sustainability.

Platinum 2009

These are companies who attained Platinum Status in the CR Index 2009. They have been able to retain Platinum band for the next two subsequent years, subject to the company holding same business structure.

Platinum

Companies achieving the Platinum performance band tend to have corporate responsibility (CR) integrated into their business model and clear CR responsibilities and incentive structures at both board and operational levels. These companies have a structured approach to data collection and social and environmental impact assessment. They can demonstrate 3-4 years of performance improvement across their keys impacts. They act and report with a high level of transparency and stakeholder engagement, and the materiality, completeness and responsiveness of their CR reporting and published data is often third party assured.

Gold

Companies that have achieved the Gold performance band tend to be able to demonstrate openness and transparency through effective public reporting of their material environmental and social issues, CR programmes and performance. They also expand and adapt their risk management processes by incorporating relevant aspects of corporate responsibility risk and opportunity, and their CR strategy is articulated in an effective manner, including clear and measurable targets.

Silver

Companies that have achieved the Silver performance band tend to conduct effective stakeholder engagement, having the right processes in place in order to identify and manage social and environmental risks and opportunities. They also tend to have reliable baseline data which enables them to demonstrate both management and performance improvement.

Bronze

Companies achieving the Bronze performance band tend to be at the early stages of environmental and social data collation as well as public reporting. A clear outline of their mission, values and corporate responsibility principles tends to be manifest, with clear roles and responsibilities being allocated across the business.

*This AUM includes the assets of the SPDR Gold Trust (approx. $56 billion as of March 31, 2011), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent.

Contact:

State Street
Lucy Davidson, + 44 203 395 4373

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