Northern Trust Releases Sustainability Report
September 19 2023 - 10:55AM
Business Wire
Northern Trust announced today it has released its latest
Sustainability Report, highlighting efforts to bolster inclusion in
the workplace, engage in philanthropic and social impact investing,
and minimize the environmental impact of business operations.
“Our approach to sustainability is grounded in our enduring
principles of service, expertise, and integrity,” said Kimberly
Evans, Head of Corporate Sustainability, Inclusion and Social
Impact. “While our stakeholders' expectations and demands vary by
topic and timing, it is our responsibility to navigate the
ambiguity in a way that honors our commitment to people, the planet
and prosperity for current and future generations.”
Highlights from the 2022 Sustainability Report include:
- Diversity, Equity and Inclusion: Northern Trust is
committed to advancing an inclusive culture in which all
individuals are valued, respected, supported and can fully
participate in and contribute to the firm’s success. Examples of
Northern Trust efforts include a Women’s Leadership Development
Forum in which more than 2,100 women have enrolled.
- Community Development: Northern Trust’s community
development portfolio exceeded $3.9 billion as of the end of 2022.
Investment priorities include affordable housing; community
financial entities that focus on unbanked, underbanked and
underserved communities, including support of micro-lending
programs; education and social services; and job creation.
- Corporate Philanthropy: In 2022, Northern Trust donated
more than $19 million to non-profit groups in support of a
philanthropic strategy that focuses on four areas of fundamental
impact to broaden opportunities and improve financial futures:
educational excellence, food security, accessible health care and
affordable housing. Over the past decade, Northern Trust has
donated nearly $170 million to charities across the globe.
- Materiality Assessment: Northern Trust conducted an
assessment in 2022 to evaluate post-pandemic shifts relative to
environmental, social and governance issues from our stakeholders'
perspectives, the competitive landscape, and needs of the
communities in which we work and live. Our expertise is aided by
participation with leading frameworks, in industry groups and in
stakeholder engagements. This report outlines what we learned and
how we're developing plans to address the top priorities. The
results will be used to establish our key performance indicators
for the next several years.
- Sustainable Operations: A fundamental principle of
sustainability is to meet the needs of the present generation
without compromising the abilities of future generations to meet
their own needs. We align our business to this concept by
integrating environmental considerations into company-wide
processes, continually improving business practices and delivering
tangible, positive results related to the environment. Northern
Trust managed its business operations to achieve carbon neutrality
for the first time in 2022. As of Dec. 31, 2022, Northern Trust
reduced its energy consumption by more than 30 percent compared to
a 2019 baseline. Additionally, Northern Trust in 2022 worked with
Climate Vault to reduce carbon emissions through a two-step
approach. Climate Vault first purchases and “vaults” carbon
emission allowances from government-regulated compliance markets.
Climate Vault will then leverage the value of the emission
allowances to fund an equivalent or greater amount of carbon
removals from new carbon dioxide removal (CDR) technologies through
a bi-annual grant process. Additional information about our GHG
emissions can be found in our Statement of GHG Emissions
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 25 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of June 30, 2023, Northern Trust had assets under
custody/administration of US$14.5 trillion, and assets under
management of US$1.4 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on Twitter @NorthernTrust or Northern
Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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Doug Holt 312-557-1571 Doug_Holt@ntrs.com
Northern (NASDAQ:NTRS)
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