BNY Mellon launched its new set of long-term Corporate Social Responsibility (CSR) goals for 2016-2020 in its latest CSR Report, released today. The goals reflect the tremendous commitment BNY Mellon has made to further integrate CSR within its business and culture and lay out a plan for continued growth. They’re designed to drive results against BNY Mellon’s CSR strategy, emphasizing alignment with the business areas most able to benefit from CSR oversight, flexibility and measurement. The firm’s CSR strategy focuses its efforts on the areas where it can have the greatest impact through three pillars: Market Integrity, Our People and Our World. Based on BNY Mellon’s 2014 materiality refresh, the 2016-2020 goals incorporate an increased focus on risk, excellent talent, investment in employees, social finance and environmental management. View the full report and new long-term goals at www.bnymellon.com/csr.
These new commitments have been integrated into BNY Mellon’s executives’ performance objectives, further strengthening executive ownership and accountability at the highest levels of the organization. The long-term goals were reviewed and ratified by the CSR Committee of the Board of Directors, which will review progress against the goals on a quarterly basis.
“At BNY Mellon, we’re invested in improving lives – an aspiration that motivates us to maintain the highest standards of client focus, integrity, teamwork and excellence. We believe that our CSR practices help us to show meaningful achievement across these ambitions,” said Jyoti Chopra, Head of Global Citizenship and Sustainability. “We’re proud of our accomplishments since 2011, and our 2020 CSR goals build on that momentum, positioning us well to drive innovation and shared value for our stakeholders and society at large.”
BNY Mellon’s 2015 CSR Report also highlights notable achievements from its 2011-2015 goals:
- Named to the Dow Jones Sustainability World Index for two consecutive years – one of only two U.S. diversified financial services companies selected for inclusion
- Received a perfect score on CDP indices for three consecutive years – one of only two S&P 500 companies to do so
- Attracted and retained diverse talent with women representing 43% of our total global workforce and 37% of our employees at the vice president level1
- Reduced scope 1 and 2 greenhouse gas (GHG) emissions by 42% in 2015, against a 2008 baseline for our global tracked operations (excluding data centers), exceeding 2020 corporate goal of a 40% reduction
- Achieved carbon neutrality for scope 1 and scope 2 GHG emissions, as well as scope 3 business travel emissions in 2015
- Signed the White House American Business Act on Climate Pledge and the Paris Pledge for Action to support action on climate change leading up to the 2015 United Nations climate conference in Paris
- Partnered with the UN Foundation to advance the rule of law within the UN’s Global Goals for Sustainable Development
- Provided impact investments through UpPrize, a social innovation challenge in Pittsburgh to connect regional nonprofits to the private sector in pursuit of market-based approaches to advance critical social missions
- Increased employee participation in community and philanthropy programs by 97% and employee donations and company matching dollars by 14% from 2011 levels
- Completed key initiatives by the Broker-Dealer Services business in 2015 to reduce intraday credit risk as part of the BNY Mellon U.S. Tri-Party Repo Infrastructure Reform efforts
- Expanded employee communications and monitoring around ethics and risk mitigation, with 83 percent reporting risk management engagement in our 2015 employee engagement survey – 3% higher than the industry benchmark
To see more from BNY Mellon about how it’s improving lives through investing, follow the hashtag #WeAreInvested on Twitter.
1As of December 31, 2015