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Home › Banks ›
Bank
BNY MellonUnited States

Active

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

2023-03-20 00:00:00

ESG Commitment Statement

Date listed represents date as accessed on website
Bank policy
2023-03-20 00:00:00 | BNY Mellon
2022-02-28 00:00:00

Human rights statement

Bank policy
2022-02-28 00:00:00 | BNY Mellon
2021-09-30 00:00:00

Environmental sustainability policy statement

Bank policy
2021-09-30 00:00:00 | BNY Mellon
2019-03-31 00:00:00

Anti-money laundering policy

Bank policy
2019-03-31 00:00:00 | BNY Mellon
2019-02-11 00:00:00

Modern slavery act statement

Bank policy
2019-02-11 00:00:00 | BNY Mellon
2018-11-19 00:00:00

Supplier code of conduct

Bank policy
2018-11-19 00:00:00 | BNY Mellon
2018-09-30 00:00:00

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
0
United States
Profile
Score
Laggard
0.7
20220921
Last update: 2022-09-21
Explanation

The policy assessment covers the main forest-risk commodity sectors (Beef, Palm Oil, Soy, Timber, Pulp and Paper, and Rubber). Weighted scores are based on the scope of Bank of New York Mellon's relevant policies, taking into account different types of financing and the sectors in which the bank is active. Details about the scores per sector policy can be found on Bank of New York Mellon's profile.

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
0
United States
Profile
Score
Laggard
0.7
20220921
Last update: 2022-09-21
Explanation

The policy assessment covers the bank's policies related to beef. Weighted scores are based on the scope of relevant policies, taking into account what types and how much finance the bank provides to companies active in the beef industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on Bank of New York Mellon's profile.

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
0
United States
Profile
Score
Laggard
0.7
20220921
Last update: 2022-09-21
Explanation

The policy assessment covers the bank's policies related to palm oil. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the palm oil industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on Bank of New York Mellon's profile.

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
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External
Blog
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Major banks support rainforest oil project despite problems

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Financial sector pressured to cut exposure to carbon-intensive industries
2021-11-02 | Financial Times
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Bank of New York Mellon involved in potential Adani coal deal

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2021-08-19 | Forests & Finance
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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
2023-03-20 00:00:00

ESG Commitment Statement

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

Annual report 2022

Annual report
2023-03-20 00:00:00 | BNY Mellon
2022-04-05 00:00:00

Annual report 2021

Annual report
2022-04-05 00:00:00 | BNY Mellon
2022-02-28 00:00:00

Human rights statement

Bank policy
2022-02-28 00:00:00 | BNY Mellon
2021-12-14 00:00:00

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
2021-11-10 00:00:00

Considering climate

Bank document
2021-11-10 00:00:00 | BNY Mellon
2021-09-30 00:00:00

Environmental sustainability policy statement

Bank policy
2021-09-30 00:00:00 | BNY Mellon
2021-08-19 00:00:00

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
2021-07-06 00:00:00

CSR Report 2020

Annual report
2021-07-06 00:00:00 | BNY Mellon
2021-06-23 00:00:00

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

NGO document
2021-06-23 00:00:00 | Forests and Finance
2021-04-13 00:00:00

Annual report 2020

Annual report
2021-04-13 00:00:00 | BNY Mellon
2020-07-01 00:00:00

CSR report 2019

Annual report
2020-07-01 00:00:00 | BNY Mellon
2020-05-12 00:00:00

Annual report 2019

Annual report
2020-05-12 00:00:00 | BNY Mellon
2020-03-12 00:00:00

Open Letter to Sappi CEO

NGO document
2020-03-12 00:00:00 | GeaSphere
2020-02-29 00:00:00

Briefing: why Blackrock should divest from biomass

NGO document
2020-02-29 00:00:00 | Biofuelwatch
2019-05-14 00:00:00

Annual report 2018

Annual report
2019-05-14 00:00:00 | BNY Mellon
2019-03-31 00:00:00

Anti-money laundering policy

Bank policy
2019-03-31 00:00:00 | BNY Mellon
2019-02-11 00:00:00

Modern slavery act statement

Bank policy
2019-02-11 00:00:00 | BNY Mellon
2018-11-19 00:00:00

Supplier code of conduct

Bank policy
2018-11-19 00:00:00 | BNY Mellon
2018-09-30 00:00:00

Code of conduct

Bank policy
2018-09-30 00:00:00 | BNY Mellon
2018-05-01 00:00:00

Annual report 2017

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

CSR report 2017

Annual report
2018-05-01 00:00:00 | BNY Mellon
2015-04-16 00:00:00

Response to press release by NGOs issued on 15 April 2015

Company document
2015-04-16 00:00:00 | GAR
2015-04-15 00:00:00

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
2015-04-13 00:00:00

Annual Report 2014

Annual report
2015-04-13 00:00:00 | BNY Mellon
2014-04-17 00:00:00

Coal Finance Report Card 2014

Extreme Investments; Extreme Consequences
BankTrack publication
2014-04-17 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack
2014-01-01 00:00:00

CSR Report 2013

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

Annual Report 2013

Annual report
2014-01-01 00:00:00
2013-05-29 00:00:00

CSR Report 2012

Annual report
2013-05-29 00:00:00 | BNY Mellon
2013-04-29 00:00:00

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
2013-03-01 00:00:00

Annual Report 2012

Annual report
2013-03-01 00:00:00 | BNY Mellon
2012-06-20 00:00:00

Worldwide investments in Cluster munitions, a shared responsibility

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

BNY Mellon's webpage on corporate social responsibility

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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