Northern Trust publishes its annual Corporate Social Responsibility Report

CHICAGO–(BUSINESS WIRE)–Northern Trust today released its latest corporate social responsibility report, marking a full decade of transparent and detailed reporting across the business.

“During a time of extraordinary social, health and economic challenges, 2020 has been a year for Northern Trust that has focused on compassion, communication and support,” said Chief Executive Officer Michael O’Grady. “We are pleased to report the progress made in creating long-term value for our customers, employees, shareholders, communities and other key stakeholders. »

Connie Lindsey, Head of Corporate Social Responsibility and Global Diversity, Equity and Inclusion, added: “Northern Trust is committed to creating more equitable opportunities to achieve long-term financial success for those who face barriers because of their race, ethnicity, gender, geography, or socioeconomic conditions.

Highlights from the 2020 Corporate Social Responsibility Report include:

  • Global Philanthropy Strategy

    Northern Trust has introduced a new, highly targeted philanthropic strategy which focuses volunteering and contributions on four key areas of fundamental impact: excellence in education, food security, accessible health care and affordable housing. Northern Trust has committed $20 million over the next five years to expand access to these basic human needs around the world and create more equitable opportunities to achieve long-term financial success for those who face barriers unfair because of their race, ethnic origin, gender, geography or socio-economic conditions.

In 2020, Northern Trust made charitable contributions of over $16 million, or 1% of pre-tax net income, which is in the top quartile of the benchmark for financial companies. Over the past 10 years, Northern Trust has given approximately $160 million to charities around the world. Northern Trust has also committed $3 million to support communities hardest hit by COVID-19, including support for nonprofits around the world providing healthcare, food and other relief. humanitarians.

  • Staff involved in the community

    Northern Trust’s new global engagement platform, iVolunteer, helps Northern Trust employees identify, engage and develop relationships with local charities. In a year of mostly virtual work, a crucial part of this platform was a virtual volunteer hub, which enabled staff to find and participate in virtual volunteering activities. During the Achieving Greater Together volunteer campaign in October alone, partners contributed more than 5,500 hours of service and supported more than 180 global charities.
  • Diversity, Equity and Inclusion

    Northern Trust’s Diversity, Equity and Inclusion (DE&I) strategy is guided by three priorities: fostering accountability, improving development programs and job placement, and advancing culture. These priorities are intended to strengthen our focus on hiring, developing and advancing women and people of color at all levels. Business unit leadership, regional councils, and business resource councils facilitate the development of an inclusive culture that values ​​and leverages DE&I to achieve and sustain superior business results.
  • Reducing emissions and renewable energies

    We have reduced our carbon emissions per employee by 60% since 2015, exceeding our target of 25%.
    • Note: With the vast majority of staff working from home and work travel greatly reduced, we estimate that the reduction in global emissions due to COVID-19 was around 25%.

  • New methodology for rating social and environmental governance

    Northern Trust Asset Management has developed the Northern Trust ESG Vector Score™, a proprietary metric that ultimately brings greater clarity to sustainable investing by focusing on key ESG-related business issues that could impact performance portfolio investments.
  • Community investments

    Northern Trust is dedicated to building stronger communities by investing its capital in direct investments that have a lasting positive impact in the places where we operate. We have maintained an “outstanding” rating under the Community Reinvestment Act for 26 consecutive years. In 2020, Northern Trust generated $1.5 billion in new investment. As of December 31, 2020, our total community investment portfolio exceeded $3.5 billion, including:
    • $3.1 billion in affordable housing

    • $184.6 million in education and social services – providing long-term capital and equity for facilities and programs such as charter schools, health clinics and daycares.

    • $207.7 million in job creation, supporting mission-driven micro-loan origination programs and business expansion and job creation through private equity funds.

Visit northtrust.com to read and share the full report.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2021, Northern Trust had assets under custody/administration of US$14.8 trillion and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Please read our global and regulatory information.

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