BNY Mellon plays a critical role in the global financial system. We help markets function smoothly and provide investors with access to a broad range of banking and investment products. We embrace this responsibility with great accountability, transparency and integrity. This permeates every aspect of our culture and is why we are compelled and committed to use our reach, market influence and resources to address global issues, contribute to healthy economies that provide opportunities for all to thrive, and make a positive impact on people around the world. This becomes even more urgent in uncertain times.
While this report highlights progress toward our commitments to CSR in 2019, I would be remiss if I didn’t reflect on the first half of 2020—a period that will forever have a profound effect on society. Upon entering this new decade, we have been faced with the gravity of COVID-19, a global pandemic, and with societal unrest, spurred by racial injustice. Both have significant implications for how we operate as a business and as a corporate citizen. And we believe that what the world needs now is real action with a real purpose.
COVID-19 is a game changer, in many respects, for businesses, governments, the medical profession and communities everywhere.
During this unprecedented period, we have been a source of stability for our clients and employees, and a strong supporter of efforts to aid those affected by the virus (CSR Overview Report). The investments we’ve made in our infrastructure, operating platforms and cyber and information security enabled us to be there for our clients and the global financial system, and I could not be prouder of how BNY Mellon professionals rose to the occasion.
While a period of uncertainty lies ahead for all of us, our clients, communities and society at large can continue to rely on BNY Mellon to be their trusted steward—with a relentless ambition to have a more profound impact on the world around us.
To that end, we are issuing refreshed pillars with associated goals and key performance indicators (KPIs). Within this report, we are introducing our new CSR strategy pillars: Culture and Purpose, Responsible Business and Global Citizenship.
While we are focused on new challenges in 2020, we note some highlights of our commitment to CSR in 2019:
- Named to the Dow Jones Sustainability World Index, one of the most highly regarded global sustainability indices, for the sixth consecutive year
- Introduced 2020-2025 CSR Pillars and Goals
- Pledged to implement the Task Force for Climate-related Financial Disclosures (TCFD) recommendations to formalize our integration and communication of risks related to climate change
- Set new five-year environmental sustainability goals related to efficient use of natural resources
- Expanded the functionality of our ESG analytics tool to integrate fixed-income scoring for corporate bonds
- Paid women and minority employees in the United States more than 99% of their respective counterparts, on average, according to a 2019 global pay equity analysis
- Increased parental leave from 12 weeks to 16 weeks in the U.S., and global maternity company paid leave to 16 weeks in all countries
- Achieved carbon neutrality in our operations for the fifth year in a row1
We will continue to build on our momentum, and act with urgency to ensure we do our part as a good corporate citizen. We are energized to do more, do better and do what’s right.