Bank of New York Mellon

In terms of senior leadership accountability, the responsibility for sustainability issues within the financial institution lies with its board. The bank publicly commits to gender equality and women’s empowerment. Furthermore, the financial institution discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.

As a member of Climate Action 100+, the financial institution’s asset management arm discloses that it collectively engages with its clients on the topic of climate change. The Bank of New York Mellon discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are.

The Bank of New York Mellon has a publicly available policy statement committing it to respect human rights. The financial institution discloses the proportion of women in its total direct operations workforce for each employee category. The financial institution discloses the amount of finance it directs towards SMEs. The Bank of New York Mellon has a grievance mechanism accessible to all workers and all external indiviudals to raise human rights complaints or concerns. Moreover, the financial institution has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. The Bank of New York Mellon has a policy prohibiting bribery and corruption as well as a grievance mechanism for stakeholders to raise concerns and complaints regarding bribery and corruption. The bank discloses a public commitment to protect personal data. The financial institution discloses a global tax strategy for which the board has responsibility. Furthermore, in a public policy statement, the financial institution discloses its approach to lobbying and political engagement.

In terms of its approach to senior leadership accountability, there is no evidence that the Bank of New York Mellon links the remuneration of its executive or management teams to sustainability performance criteria. While the financial institution discloses the total ratio of basic salary to men and women, it does not provide a breakdown per employee category. The bank has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients.

There is no evidence that the Bank of New York Mellon discloses a target to reach net-zero financed emissions by 2050. The financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. The financial institution could align its climate solutions with internationally recognised frameworks. There is no evidence that the financial institution discloses time-bound targets explicitly for its climate solutions. Regarding nature and biodiversity, no evidence was found that the Bank of New York Mellon is committed to minimising its negative impacts or financing regenerative solutions.

The Bank of New York Mellon has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. Furthermore, the financial institution has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender or another indicator of diversity. To provide transparency on financial inclusivity, the Bank of New York Mellon has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses or low-income developing countries.