Company Introduces Refined CSR Focus on Ethics and Transparency, Operational Reliability, Stakeholder Engagement and Talent Management
NEW YORK, June 12, 2012 — BNY Mellon, the global leader in investment management and investment services, today released its 2011 Corporate Social Responsibility (CSR) report, highlighting a series of milestones, achievements and initiatives linked to sustainable business leadership.
Through examples and analysis that reflect guidelines established by the Global Reporting Initiative, the online report, available at www.bnymellon.com/csr, shows the company's strong CSR-related performance, leadership and progress. The report also introduces BNY Mellon's long-term CSR commitments and refined focus that will guide the company's actions going forward. The company's approach to CSR will focus on ethics and transparency, operational reliability, talent management and stakeholder engagement. This year's report also includes a Q-and-A with Gerald Hassell, BNY Mellon's Chairman, President and CEO on responsible business practices.
"When you've been in business for 228 years, focusing on doing what's in the best long-term interests of your clients and communities is deeply ingrained. That's what drives a sustainable business," Hassell said. "In nearly every business transaction or decision, there is an opportunity to benefit society beyond the immediate business objective. In fact, responsible business practices and increased transparency can open new doors, new markets and new relationships."
Notable successes include:
- Maintaining top rankings for client service;
- Delivering more than 1.2 million hours of employee training, or nearly 25 hours per employee;
- Contributing a combined $100 million to charity over the past three years through our Community Partnership program as a result of corporate and employee contributions, while also increasing employee volunteer service to 71,000 hours during 2011;
- Increasing assets screened for Environmental Social and Governance factors to $17.8 billion;
- Exceeding supplier diversity goals by awarding 27 percent of competitively bid contracts to businesses in the company's Supplier Development Program, with 13 percent awarded to women- and minority-owned firms;
- Progressing toward a 10 percent reduction in overall greenhouse gas emissions, with energy efficiency projects saving more than 147 million kilowatt hours, equivalent to more than $11 million in energy costs avoided, as part of the company's comprehensive five-point strategy for continued responsible environmental resource management; and
- Increasing stakeholder engagement and reporting transparency to help drive the company's sustainable business efforts.
"BNY Mellon must continue to be flexible, innovative and vigilant in our work to maintain the trust of our many stakeholders," said John Buckley, Director of Corporate Social Responsibility for BNY Mellon. "We conduct our business with integrity and are constantly working to earn and keep that trust as a socially responsible corporate citizen."
To view the full 2011 CSR report, a condensed highlights report or customized regional reports for BNY Mellon's major global employment centers, visit bnymellon.com/csr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.