BNY Mellon

The financial institution discloses its lobbying expenditures and maintains a gender balance of 40-60% at the senior executive level. Decision-making and oversight responsibility for the sustainability strategy is assigned to the highest governance body, with performance criteria for senior executive remuneration linked to specific sustainability targets. It delegates the responsibility for implementing its sustainability strategy to specific functions or teams within the institution.

The institution has a stewardship policy covering client and other stakeholder engagement as well as advocacy and partnerships. Furthermore, it discloses a publicly available policy statement committing to respect human rights and monitors its scope 1-2 emissions. Additionally, the institution also reports the monetary amount or share of products, services, and capital provided to usually excluded groups and small and medium-sized enterprises.

The financial institution commits to respecting the ILO’s fundamental rights at work but could strengthen its language to formalise this commitment. It expects suppliers to uphold specific workers’ rights but has the opportunity to reference all ILO fundamental rights at work.

While the institution identifies and prioritizes material sustainability impacts, it could enhance transparency by disclosing the objective criteria and evidence used in its materiality analysis. It has a stewardship policy that supports environmental transitions and social best practices but could align the policy with its sustainability strategy. Moreover, the institution has an opportunity to disclose the monetary amount of its provision of products, services and capital linked to high-emitting sectors and fossil fuel sectors.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Its risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Moreover, the institution could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition. It could also provide an example of actions taken in the past three years to address salient human rights issues identified through risk assessments related to the products, services, and capital it offers.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.