State Street Bank Luxembourg's motivation to participate in IMS Luxembourg's activities:
We firmly believe that being a responsible citizen contributes to our success as a business and is essential to our long-term sustainability. In everything we do, we always find ways to make a positive impact — in the decisions we make and in the relationships we build along the way. With CSR at the heart of our business, we are confident in our ability to contribute to a better future.
State Street Bank Luxembourg's CSR policy:
State Street’s strong 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, customers, employees, communities and the environment. We are committed to the principles of sound governance and to helping our customers succeed. We are dedicated to ensuring a global and inclusive workplace where employees feel engaged and valued. 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.
State Street Bank Luxembourg's CSR actions and frameworks:
Protecting Shareholder Value
State Street’s financial objective is to create value for our shareholders. We seek to deliver consistent profitability highlighted by a disciplined expense culture. State Street manages the risks inherent in our business with systems, procedures and oversight that ensure transparency and long-term sustainability. The way we conduct business not only underscores our long-standing reputation for quality, integrity and consistency, but it also impacts those who rely on us to fully comply with laws that regulate our company. Our adherence to these standards is reflected in our established corporate governance approach and in the work we do every day across all business operations, from compliance to risk management to product development. Corporate governance is part of the very fabric of our company.
Conducting Our Global Business
State Street’s customers are among the largest institutions in the world, including governments, corporations, insurance companies, mutual funds, hedge funds, investment managers, central banks and monetary authorities, endowments and foundations, nonprofit organizations, health care institutions and unions. Our broad and integrated range of financial services spans the entire investment spectrum, including research, investment management, trading services and investment servicing — with investment servicing accounting for 82 percent of our total revenue and our investment management services representing 18 percent. By using any combination of these services, our customers can deliver more value to their clients, control costs, launch new products and expand globally.
Because of the close relationships we’ve developed with our customers, we understand the tremendous role CSR plays in the competitive bidding process.
Preserving the Environment
Given the nature of our business, State Street’s aim is to be an environmental leader among our peers within the industry. We believe our environmental practices have a direct effect on our ability to attract and retain customers, on our efforts to operate more cost-effectively and on our long-term sustainability. With this in mind, we look creatively at all of the ways we can affect our physical surroundings, taking actions that minimize negative impacts and maximize the positive ones. The company is gradually introducing a formal Environmental Management System (EMS) that tracks and monitors our environmental performance from an operations perspective. In recognizing the threat of climate change, we have also made it a corporate imperative to increase our efforts to reduce the use of fossil fuels.
Creating a Positive Work Environment
We recognize that highly skilled, productive employees are essential to our success. In all of our locations, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and job skills. Because we operate in countries with a variety of cultural norms, our Human Rights Statement emphasizes our commitment to respecting the dignity of all our employees. We understand that our long-term sustainability depends on our ability to attract and retain talented, dedicated employees. In periods of business downturn, we strive to balance the need for cost reductions with our commitment to investing in the skills and well-being of our employees.
Serving Our Communities
Active engagement with our communities around the world, both as a partner and as a leader, is a fundamental value at State Street. The very nature of our business means that long-term, sustainable success is linked to a strong global economy. We are committed to increasing the economic well-being of communities where we operate, especially by helping to equip the underserved with the resources to succeed. We provide monetary support through a variety of community investment initiatives, corporate donations and the State Street Foundation. Recognizing that our employees are a valuable resource in their communities, we encourage, support and celebrate their volunteer efforts. Our offices around the world take responsibility for developing relationships with their respective community leaders and organizations and, with the support of headquarters’ resources, initiate programs appropriate for their locales. We take pride in our tradition of community support, and we believe our efforts help to create a safer, stronger, more vibrant world.
Discover State Street good practice about Diversity Awards 2015