Northern Trust Releases Sustainability Report
Company commits to reach net-zero carbon by 2050
“Sustainability is about how we operate as a business and as citizens in the broader global community,” Chairman and Chief Executive Officer
“We are pleased to share this update on Northern Trust’s approach to advancing sustainability in all areas,” said
Highlights from the 2021 Sustainability Report include:
We have taken a closer account of the impact climate change has, or may have, on operations, credit conditions and regulatory compliance across the globe, and established a cross-disciplinary group, known as the
Realizing that climate impacts threaten more than supply chains and physical infrastructure, we made the commitment to be net-zero carbon by 2050, using our 2019 baseline. In the coming months we will provide additional details on our strategy.
We are also continuing to reduce our carbon emissions, as well as expanding the types of emissions on which we report, such as the recent additions of water and waste emissions data.
Northern Trust ESG Vector Score™:
Our ESG reporting offers clients a real-world view of ESG exposures to their portfolios by providing transparency into ESG-labeled products. We also added Climate Focus to our ESG Insights, aligned to the
We launched eight new exchange-traded funds that use the new Northern Trust ESG Vector Score™ to assess climate risk.
Community Reinvestment Act:
$4.2 billionin affordable housing – supporting the creation and retention of affordable home rentals and homeownership in partnership with mission-driven lenders and developers.
$179 millionin education and social services – providing long-term capital and equity for the development of community and educational facilities and programs such as charter schools, health clinics and daycare centers.
$220 millionin job creation – supporting mission-driven micro-loan origination programs and the expansion of businesses and job creation.
Global Philanthropic Strategy:
In 2021, we continued to make progress on our philanthropic strategy, focusing our contributions in four key areas of fundamental impact proven to improve financial futures: educational excellence, food security, accessible healthcare and affordable housing. In 2021,
Community engagement opportunities and paid time off for volunteerism enhance our communities and put our values into action. Over the past 10 years, our employees have contributed nearly a million cumulative hours of volunteer service.
Diversity, Equity & Inclusion (DE&I):
Northern Trust’s DE&I strategy is designed to develop a diverse workforce, equitable policies and practices, and an inclusive culture that reflects our values and allows us to grow as a business. Our strategy focuses on three key areas: driving accountability, enhancing development programs and placement, and advancing culture. These priorities inform our hiring, development, advancement and retention of women and people of color at every level.
We've woven these ideals into all business practices, resulting in new initiatives like Business Diversity360, a program that helps us take a holistic look at our suppliers' diversity, going beyond ownership.