Company Directory - State Street Bank and Trust Company
Company Details - State Street Bank and Trust Company
State Street Bank and Trust Company
WebsiteBoston, United States
State Street Bank and Trust Company is a Massachusetts-based trust company that provides a range of financial services including asset servicing, fiduciary solutions, and investment management support. As a subsidiary of State Street Corporation, it plays a key role in one of the world's largest custodian banks and asset management firms.
CCI Score
CCI Score: State Street Bank and Trust Company
53.02
-0.03%
Latest Event
State Street 2023 Sustainability Report: Commitment to Diversity and Civil Rights
The 2023 Sustainability Report details State Street's robust sustainability initiatives, including an external civil rights audit, comprehensive diversity, equity and inclusion strategies, supplier diversity programs, and sustainable finance initiatives. These efforts underscore the company's commitment to strong ethical practices, worker rights, and countering systemic discrimination.
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LEADER
State Street Bank and Trust Company is currently rated as a Leader.
Latest Events
- APR252024
The 2023 Sustainability Report details State Street's robust sustainability initiatives, including an external civil rights audit, comprehensive diversity, equity and inclusion strategies, supplier diversity programs, and sustainable finance initiatives. These efforts underscore the company's commitment to strong ethical practices, worker rights, and countering systemic discrimination.
+80
Business Practices and Ethical Responsibility
March 18
State Street’s report highlights extensive actions in promoting humane labor practices and ethical responsibility, such as the external civil rights audit, robust diversity and inclusion initiatives, and policies to ensure supplier adherence to human rights standards. These actions indicate a strong commitment to counteracting systemic racism and fostering fair, equitable business practices.
- MAY182023
State Street Bank and Trust Company released its Modern Slavery Statement outlining comprehensive measures to prevent modern slavery within its operations and supply chains. The statement details robust supplier due diligence processes, mandatory compliance training, and stringent contractual requirements that safeguard labor rights and ensure ethical sourcing throughout its global operations.
+80
Labor Relations and Human Rights Practices
March 18
The statement outlines strong labor relations policies, including comprehensive anti-modern slavery measures, employee training on ethical conduct, and clear expectations for worker treatment across the organization. The detailed disclosure of modern slavery risks and actions taken demonstrates a significant commitment to upholding human rights within labor practices, garnering a positive score in this category.
+85
Supply Chain Ethics
March 18
The supply chain component of the statement emphasizes rigorous due diligence measures, supplier contract requirements, and adherence to global standards aimed at preventing forced and compulsory labor. The proactive approach to monitoring supplier compliance and integrating modern slavery risk assessments into procurement processes reflects high ethical standards in supply chain management.
- SEP012022
An extensive civil rights audit examines State Street's efforts to advance racial equity and civil rights across its operations. The report commends some initiatives—such as the willingness to undergo an independent audit and developing an ESG data repository—while highlighting gaps in leadership communication, unified strategy, diverse supplier engagement, and clear accountability measures.
- MAY302022
State Street Bank and Trust Company released its 2021 Modern Slavery Act Statement outlining rigorous supplier due diligence, mandatory modern slavery training, and contractual clauses that enforce compliance with human rights standards, reflecting a strong commitment to ethical business practices.
+80
Business Practices and Ethical Responsibility
March 18
The Modern Slavery Act Statement demonstrates State Street's proactive approach in ensuring ethical supply chain practices and labor rights. By instituting rigorous due diligence in supplier evaluation, mandatory modern slavery training, and embedding anti-forced labor clauses into supplier contracts, the company shows a robust commitment to upholding human rights and mitigating risks of modern slavery. This strengthens its position against exploitative labor practices and supports efforts against authoritarian business conduct.
- JUN172019
State Street Bank and Trust Company released its Modern Slavery Act Statement for 2018 detailing its commitment to ethical supply chain practices and fair labor standards. The document outlines due diligence processes for suppliers, requirements for anti-slavery policies, and third party risk management measures to combat human trafficking and forced labor.
+80
Labor Relations and Human Rights Practices
March 18
The Modern Slavery Act Statement highlights State Street's commitment to protecting labor rights and ensuring fair treatment of workers. The document outlines clear expectations for suppliers, requiring compliance with anti-slavery, human trafficking, and labor protection laws, which reflects positively on its commitment to human rights.
+80
Supply Chain Ethics
March 18
The statement provides detailed measures for ensuring supply chain ethics, including mandatory anti-slavery policies for suppliers and comprehensive due diligence procedures. These steps demonstrate robust corporate responsibility and transparency in addressing risks related to modern slavery and human trafficking within their global supply chain.
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Industries
- 522110
- Commercial Banking
- 524126
- Direct Property and Casualty Insurance Carriers
- 523930
- Investment Advice
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- Portfolio Management