Northern Trust Releases Annual Corporate Social Responsibility Report

Northern Trust released its latest Corporate Social Responsibility report today, marking a full decade of transparent, detailed information across the company.

“During a period of extraordinary social, health and economic challenges, 2020 was a year that for Northern Trust focused on compassion, communication and support,” Chairman and Chief Executive Officer Michael O’Grady said. “We are pleased to report on progress toward creating long-term value for our clients, employees, shareholders, communities and other key stakeholders.”

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

Highlights from the 2020 Corporate Social Responsibility Report include:

• Global Philanthropic Strategy
  
  Northern Trust introduced a new, highly focused philanthropic strategy that concentrates volunteerism and contributions on four key areas of fundamental impact: educational excellence, food security, accessible health care and affordable housing. Northern Trust committed $20 million over the next five years to extending access around the globe to these essential human needs and creating more equitable opportunities to achieve long-term financial success for those who face unfair hurdles because of their race, ethnicity, gender, geography or socio-economic conditions.

In 2020, Northern Trust made charitable contributions of more than $16 million, equaling 1% of pre-tax net income, which is in the top quartile benchmark for financial companies. Over the past 10 years, Northern Trust has given approximately $160 million to charities globally. Northern Trust also committed $3 million to support communities most impacted by COVID-19, including support for nonprofit organizations around the world that provide healthcare, food and other humanitarian relief.

• Staff Engaged in the Community
  
  Northern Trust’s new global engagement platform, iVolunteer, helps Northern Trust employees identify, engage and develop relationships with local charities. During a year of primarily virtual work, a crucial component 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 & Inclusion
  
  Northern Trust’s Diversity, Equity and Inclusion (DE&I) strategy is driven by three priorities: Drive Accountability, Enhance Development Programs and Placement, and Advance Culture. These priorities are aimed at enhancing our focus on the hiring, development and advancement of women and people of color at every level. 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.
  
  
• Emissions Reduction and Renewable Energy
  
  We reduced our per-employee carbon emissions by 60 percent since 2015 – surpassing our goal of 25 percent.
  • Note: with the vast majority of staff working from home and significantly reduced business travel, we estimate that the reduction in global emissions due to COVID-19 was approximately 25 percent.
    
    
• New Environmental Social Governance Scoring Methodology
  
  Northern Trust Asset Management developed the Northern Trust ESG Vector Score™, a proprietary measurement that ultimately brings greater clarity to sustainable investing by focusing on key ESG-related business issues that could impact a portfolio’s investment return.
  
  
• Community Investments
  
  Northern Trust is dedicated to building stronger communities by investing its capital in direct investments that have a sustainable positive impact in locations where we do business. We have maintained an “outstanding” Community Reinvestment Act rating for 26 consecutive years. In 2020, Northern Trust originated $1.5 billion in new investments. 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 daycare centers.
  • $207.7 million in job creation, supporting mission-driven micro-loan origination programs and the expansion of businesses and job creation through private equity funds.

Visit northerntrust.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 to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 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 earned distinction as an industry leader for 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 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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