Enterprise ESG Commitment Statement
At BNY Mellon, we’re committed to putting the Future FirstSM, by using our global reach, influence and resources not just to power success today, but to help safeguard the future. Delivering on our environmental, social and governance (ESG) framework, we Consider EverythingSM, starting with our own enterprise-wide practices addressing the business impacts of global issues and contributing to opportunities that help communities thrive. We expand our actions by providing leading products and services, which empower our clients to meet their own goals.
This way, we aim to accelerate the evolution of ESG — on behalf of clients, investors, communities and all stakeholders — to make a positive impact on people and the planet.
We have adopted this Enterprise Environmental, Social and Governance (ESG) Statement to articulate how we address these responsibilities, and work to mitigate risks and capitalize on opportunities related to ESG.
Given that macroeconomic ESG drivers such as limited natural resources and growing populations are global in nature, and coupled with the increased influence of the business sector, we believe we must all put the Future FirstSM by implementing long-term thinking and growing companies responsibly.
Therefore, at BNY Mellon we start with our own ESG practices and conduct, then extend that thinking to the way we serve clients. With regard to Enterprise ESG, the following definitions guide us:
- Environmental: we’re committed to the efficient use of natural resources, mitigating climate-related risks, and leveraging innovative energy solutions.
- Social: we’re dedicated to effectively managing our relationships with key stakeholders including clients, employees, regulators, suppliers and the communities in which we operate.
- Governance: we’re dedicated to operating with strong ethical business practices, fair and equitable compensation, a diversified board of directors and policies that acknowledge human rights principles.
All of these actions inform our client solutions, where we aim to help clients meet their ESG goals. As one of the world’s largest custodians, we have an unparalleled view of ESG trends and therefore, a distinctive ability to advise clients on how they may positively affect the long term. With our size, scale and significance at the heart of the financial system, we touch many points along the financial value chain — which means we’re uniquely positioned to collaborate with clients to establish market best practices and create innovative ESG solutions.
BNY Mellon is committed to addressing the key ESG factors, including climate change, that are relevant to our business and is steadfast in managing the resulting risks and opportunities. We periodically conduct an assessment to identify our most material issues, refresh our strategy and establish goals to drive action. Through formal materiality assessments, we identify ESG topics that are material to our business and engage internal and external stakeholders to ensure their input is included in our focus areas. As we work toward achieving these goals, we publicly report progress on a regular basis, generally annually, against various industry standards applicable at the corporate, global level.
Our ESG performance is broad ranging given that our strategy, execution and commitments reach across our global footprint, our lines of business, our business functions and various legal entities. At BNY Mellon, ESG encompasses both embedding an ESG lens in the way we operate, as well as how we serve our clients with exceptional ESG solutions. The following outlines our position and/or commitments in key areas encompassed in our Enterprise ESG work. Given the continually evolving nature of ESG, the topics addressed below are not meant to be exhaustive but rather highlights of our key focus areas.
Corporate Giving and Community Impact
A spirit of citizenship and service has inspired our corporate investment in communities, through our time, talent and treasure, for more than two centuries. Today, we mobilize the resources of our company and the talents of our employees to make a positive impact in the communities where we live and work.
Whether creating pathways to technology careers for diverse youth, engaging in STEM education or upskilling adults for more meaningful and better-paying work, we're helping to prepare communities for the workforce of the future.
Diversity, Equity and Inclusion
Diversity, Equity & Inclusion (DEI) is a business imperative that powers engagement, performance and growth while increasing value and competitiveness, making a positive impact in the lives of our stakeholders. Our DEI strategy aims to strengthen our values-based culture and support our purpose to power individuals and institutions to succeed across the financial world.
Environmental Sustainability and Climate Change
We are committed to addressing climate-related risks and opportunities through an environmental sustainability approach that considers all aspects of our business, in particular the management of our global operations and real estate footprint.
Please see our Environmental Sustainability Policy Statement for more information on how we approach sustainability.
Human and Workplace Rights
We support human rights and treat employees with fairness, dignity and respect at work. BNY Mellon is a staunch advocate of equal rights for all in our workforce and in society. We are committed to preventing modern slavery and human trafficking in our operations and supply chain. These values help define our company, and we reinforce them through policies governing our supply chain and employment practices.
Please see our related statements and policies such as the Human Rights Statement, Modern Slavery Statement, Supplier Code of Conduct, Health and Safety Statement, Equal Opportunity/Affirmative Action statement, Notice of Affirmative Action Programs and Notice to Veterans and Individuals with Disabilities Statement, Sexual and Other Discriminatory Harassment Policy and Drug- and Alcohol-Free Workplace Policy for more information.
BNY Mellon’s Supplier Code of Conduct describes our fundamental expectations and requirements for suppliers. As a practicing advocate of health and safety, labor and human rights, environmental sustainability, diversity, equity and inclusion, ethics and other responsible business practices, BNY Mellon holds its suppliers to similar standards of excellence.
Please see our Supplier Code of Conduct for more information.
Statement Governance and Scope
This statement is governed by the BNY Mellon Executive Committee and the BNY Mellon Corporate Governance, Nominating and Social Responsibility Committee of the Board of Directors, who oversee Enterprise ESG matters including long-term goals that support our strategy.
This statement applies to The Bank of New York Mellon Corporation, all of its subsidiaries and business relationships. In cases where local regulations impose a more restrictive commitment, the more restrictive commitment would apply.
This statement is reviewed, and updated with refinements and additional topics as necessary, on an annual basis.
Adopted and Published: September 7, 2021