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BNY MellonUnited States

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This profile is actively maintained
Last update: 2023-03-20 15:59:48
BNY Mellon headquarters in New York. Photo: Joseph via Flickr (BY NC SA 2.0)

Active

This profile is actively maintained
Last update: 2023-03-20 15:59:48
About
Website https://www.bnymellon.com
Headquarters
1 Wall Street
10286 New York
United States
CEO/chair Robin Vince
CEO
Supervisor
Federal Reserve
Ownership
listed on NASDAQ OMX & NSE

BNY Mellon's shareholder structure can be accessed here.

The Bank of New York Mellon (BNY Mellon) is an American banking and financial services company. BNY Mellon was formed in 2007 as a result of the merger of The Bank of New York and Mellon Financial Corporation. It is the oldest banking corporation in the United States, tracing its origins to the establishment of the Bank of New York in 1784. BNY Mellon provides corporate banking, investment banking and private equity services.

Sustainability
Commitments
Policies
Voluntary standards

BNY Mellon's most important commitments to sustainability can be found at the website sections listed below.

In its 2021 Annual csr report BNY Mellon states that although BNY Mellon is not an Equator Principles signatory, the bank adheres to guidelines consistent with the Equator Principles for other lending activities, such as large-scale infrastructure projects.

Links

ESG web page

ESG and responsible investment

ESG statements and policies

ESG Commitment Statement

Date listed represents date as accessed on website
Bank policy
2023-03-20 00:00:00 | BNY Mellon

Human rights statement

Bank policy
2022-02-28 00:00:00 | BNY Mellon

Environmental sustainability policy statement

Bank policy
2021-09-30 00:00:00 | BNY Mellon

Anti-money laundering policy

Bank policy
2019-03-31 00:00:00 | BNY Mellon

Modern slavery act statement

Bank policy
2019-02-11 00:00:00 | BNY Mellon

Supplier code of conduct

Bank policy
2018-11-19 00:00:00 | BNY Mellon

Code of conduct

Bank policy
2018-09-30 00:00:00 | BNY Mellon
BNY Mellon has committed itself to the following voluntary standards:
Banking Environment InitiativeTags:
Business for Social ResponsibilityTags: corporate social responsibility
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Dow Jones Sustainability IndicesTags: sustainable development | transparency
Global Reporting InitiativeTags: sustainable development | human rights
Dodgy Deals

BNY Mellon is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of BNY Mellon's link to these deals.

Projects / Companies
Finance type
Year
Campaigns

Banks and Climate

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of BNY Mellon's fossil fuel policy below.

Assessment of BNY Mellon's coal policy in the Coal Policy Tool

Assessment of BNY Mellon's polices in the Oil & Gas Policy Tracker

Banks and Nature

BNY Mellon's policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 0.7 out of 10 and ranking it as a laggard. BNY Mellon achieved a score of 0.7 out of 10 specifically for its policies related to the beef sector and 0.7 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, BNY Mellon provided USD 120 million in credit to companies operating in these forest-risk sectors and held investments amounting to USD 394 million as of 2022. For more information, see the links below.

Forests & Finance

Banks and beef

Banks and palm oil

Forest & Finance Policy Assessment 2022: Overall scores

BankLast update
Country
Score
Ranking
Details
Bank of New York Mellon
2022-09-21
USA
0.7
Laggard
Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Beef

BankLast update
Country
Score
Ranking
Details
Bank of New York Mellon
2022-09-21
USA
0.7
Laggard
Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Palm Oil

BankLast update
Country
Score
Ranking
Details
Bank of New York Mellon
2022-09-21
USA
0.7
Laggard
Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

US banks and climate-related policy: How the sector engages on sustainable finance and real economy climate policies

New report from InfluenceMap
2023-06-29 | InfluenceMap
BankTrack news BankTrack blog Partner news Partner blog

CA100+ delists BNY Mellon subsidiary over engagement failure

Index specialist Mellon Investments becomes first and only CA100+ member to be delisted from investor engagement group
2023-02-02 | Responsible Investor
BankTrack news BankTrack blog Partner news Partner blog

Major banks support rainforest oil project despite problems

BankTrack quoted
2022-11-04 | London | AP
BankTrack news BankTrack blog Partner news Partner blog

Major banks support rainforest oil project despite problems

2022-11-04 | London | Washington Post/ Associated Press
Blog
BankTrack news BankTrack blog Partner news Partner blog

New Report: US banks and investors responsible for roughly the emissions of Russia

CAP and Sierra Club look at “financed emissions” to offer novel view of Wall Street's carbon footprint
2021-12-14 | Washington | Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

US bank BNY Mellon cuts ties with Adani’s Carmichael coal mine

Bank says Queensland mine and rail line do not fit in with its environmental, social and governance principles
2021-11-08 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Banks’ green pledges under scrutiny

Financial sector pressured to cut exposure to carbon-intensive industries
2021-11-02 | Financial Times
BankTrack news BankTrack blog Partner news Partner blog

Bank of New York Mellon involved in potential Adani coal deal

It has been revealed that an Australian subsidiary of Bank of New York Mellon (BNYM) could be playing a role in a new funding deal linked to Adani’s Carmichael coal project
2021-10-21 | MarketForces
Blog
BankTrack news BankTrack blog Partner news Partner blog

Forests & Finance Coalition warns foreign investors about the risk of the anti-environment agenda in the Brazilian Congress

2021-08-19 | Forests & Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

World’s 50 largest banks and investors driving deforestation through weak policies and major investments, new study finds

Top investors BlackRock, Vanguard, State Street, PNB, EPF, GPIF, and KWAP all amongst lowest scoring
2021-06-08 | Forests & Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Revealed: Businesses and banks behind global plastic waste crisis

Just 20 companies produce over 50 per cent of all single-use plastic - Top financial institutions enabling plastic waste identified
2021-05-18 | Minderoo Foundation
BankTrack news BankTrack blog Partner news Partner blog

TRT ratifica decisão liminar que obriga Eldorado a adequar jornada de trabalho de seus motoristas

2020-01-24 | Ministerio Publico do Trabalho
BankTrack news BankTrack blog Partner news Partner blog

Justiça condena indústria Eldorado a indenizar sociedade em R$ 2 milhões por infrações trabalhistas

2018-08-28 | Ministerio Publico do Trabalho
Blog
BankTrack news BankTrack blog Partner news Partner blog

Briefing to banks and potential investors on the ongoing risks and outstanding social conflicts in the palm oil agribusiness sector: Golden Agri-Resources (GAR) bond offering

Joint NGO statement
2015-04-15 | Nijmegen
Resources
Documents
Links

ESG Commitment Statement

Date listed represents date as accessed on website
Bank policy
2023-03-20 00:00:00 | BNY Mellon

Annual report 2022

Annual report
2023-03-20 00:00:00 | BNY Mellon

Annual report 2021

Annual report
2022-04-05 00:00:00 | BNY Mellon

Human rights statement

Bank policy
2022-02-28 00:00:00 | BNY Mellon

Wall Street's carbon bubble: the global emissions of the US financial sector

NGO document
2021-12-14 00:00:00 | Sierra Club, Center for American Progress

Considering climate

Bank document
2021-11-10 00:00:00 | BNY Mellon

Environmental sustainability policy statement

Bank policy
2021-09-30 00:00:00 | BNY Mellon

Recipients of the letter about the risk of the anti-environment agenda in the Brazilian Congress

NGO document
2021-08-19 00:00:00 | BankTrack

CSR Report 2020

Annual report
2021-07-06 00:00:00 | BNY Mellon

Forests & Finance 2021 Briefing - Is Your Money Destroying Rainforests or Violating Rights?

NGO document
2021-06-23 00:00:00 | Forests and Finance

Annual report 2020

Annual report
2021-04-13 00:00:00 | BNY Mellon

CSR report 2019

Annual report
2020-07-01 00:00:00 | BNY Mellon

Annual report 2019

Annual report
2020-05-12 00:00:00 | BNY Mellon

Open Letter to Sappi CEO

NGO document
2020-03-12 00:00:00 | GeaSphere

Briefing: why Blackrock should divest from biomass

NGO document
2020-02-29 00:00:00 | Biofuelwatch

Annual report 2018

Annual report
2019-05-14 00:00:00 | BNY Mellon

Anti-money laundering policy

Bank policy
2019-03-31 00:00:00 | BNY Mellon

Modern slavery act statement

Bank policy
2019-02-11 00:00:00 | BNY Mellon

Supplier code of conduct

Bank policy
2018-11-19 00:00:00 | BNY Mellon

Code of conduct

Bank policy
2018-09-30 00:00:00 | BNY Mellon

Annual report 2017

Annual report
2018-05-01 00:00:00 | BNY Mellon

CSR report 2017

Annual report
2018-05-01 00:00:00 | BNY Mellon

Response to press release by NGOs issued on 15 April 2015

Company document
2015-04-16 00:00:00 | GAR

Golden Agri-Resources (GAR) bond offering

Briefing to banks and potential investors on the ongoing risks and outstanding social conflicts in the palm oil agribusiness sector
NGO document
2015-04-15 00:00:00 | Joint NGO statement

Annual Report 2014

Annual report
2015-04-13 00:00:00 | BNY Mellon

Coal Finance Report Card 2014

Extreme Investments; Extreme Consequences
BankTrack publication
2014-04-17 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack

CSR Report 2013

Annual report
2014-01-01 00:00:00

Annual Report 2013

Annual report
2014-01-01 00:00:00

CSR Report 2012

Annual report
2013-05-29 00:00:00 | BNY Mellon

Coal Finance Report Card 2013

Extreme investments - US Banks and the Coal Industry
BankTrack publication
2013-04-29 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack

Annual Report 2012

Annual report
2013-03-01 00:00:00 | BNY Mellon

Worldwide investments in Cluster munitions, a shared responsibility

NGO document
2012-06-20 00:00:00 | IKV Pax Christi & FairFin
Accountability
Grievances

BNY Mellon does not operate a complaints or grievances channel for individuals or communities who might have been affected by its finance.

This page evaluates BNY Mellon's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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