State Street
State Street Corporation, commonly referred to as State Street, is a leading financial services provider headquartered in the United States. Founded in 1792, the company has established itself as a key player in the investment management and servicing industry, with significant operations across North America, Europe, and Asia. Specialising in asset management, investment research, and servicing solutions, State Street offers a unique blend of innovative technology and deep industry expertise. Its core products include investment management services, custodial services, and data analytics, which cater to a diverse clientele, including institutional investors and corporations. With a strong market position, State Street is recognised for its commitment to sustainability and responsible investing, making notable strides in environmental, social, and governance (ESG) practices. The company continues to evolve, leveraging its extensive experience to meet the dynamic needs of the global financial landscape.
DitchCarbon Score
How does State Street's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Services Auxiliary to Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
State Street's score of 60 is higher than 98% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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State Street's reported carbon emissions
In 2023, State Street reported total carbon emissions of approximately 58,437,000 kg CO2e, comprising 7,559,000 kg CO2e from Scope 1, 50,878,000 kg CO2e from Scope 2, and a significant 202,271,000 kg CO2e from Scope 3 emissions. This marked a notable reduction from previous years, with total emissions decreasing from about 95,725,000 kg CO2e in 2022 and 74,752,000 kg CO2e in 2021. State Street has set ambitious reduction targets, aiming for a 46.2% reduction in both Scope 1 and Scope 2 emissions by 2030, relative to their 2019 levels. This commitment reflects their ongoing efforts to assess and mitigate their environmental footprint quarterly across all locations. The company has consistently disclosed emissions across all three scopes, demonstrating transparency in their climate impact. Their emissions intensity ratio has also shown improvement, indicating a commitment to reducing carbon emissions relative to revenue. Overall, State Street's proactive approach to managing carbon emissions and setting clear reduction targets positions them as a responsible player in the financial services industry, aligning with global climate goals.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 9,814,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 78,678,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000 |
| Scope 3 | 95,888,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
State Street is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
