Catherine Felle
Andrew Klawiter
Corey Haynes
Christopher T. Khan
St. John's University
Charles Wankel
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BNY Mellon’s two key ideas are financing carbon neutrality and carbon offsets through business practices and social investing.
BNY Mellon has made it a priority to maintain a net zero carbon footprint by advancing technologies to reduce Scope 1 and Scope 2 Emissions. The company has successfully reduced their emissions by 42% since 2008, and continues to work towards greener technology all together.
BNY Mellon purchased carbon offsets, in connection with projects that provide financing across the world, that provide carbon reduction elsewhere. The company was appointed by the Voluntary Carbon Standard Association to be a Voluntary Carbon Unit registry provider being that it deals with asset management and servicing to green companies.
BNY Mellon financed $1.3 billion into wind energy products in 2014 to move towards a more sustainable and environmentally conscious method of energy. In addition, BNY Mellon consistently seeks new technology and resources to become in line with the Paris Agreement’s goal of limiting global warming temperatures below 2 Celsius.
BNY Mellon continues to globally measure, monitor, and reduce electrical energy consumption and associated greenhouse gas emissions against a 2008 baseline at tracked properties under company control. In addition, BNY Mellon has successfully incorporated sustainable design into new and retrofit construction projects, as well as operations and maintenance programs to improve efficiency and environmental performance of office spaces.
Sustainability and looking ahead to long-term value is important to BNY. “Managing environmental risks and promoting a healthy environment for our employees and communities is critical to business longevity and long-term value,” according to Todd Gibbons, Vice Chairman and Chief Financial Officer. A reduction in water consumption, improvement in landfill diversion rate, and implemented waste solution innovation such as composting promotes a more sustainable future for the company, clients, employees and communities.
BNY Mellon developed an education program to raise employee awareness of environmental issues and promote responsible behavior, thereby helping employees to positively impact the environment in their work lives.
BNY Mellon collaborated with key suppliers to increase purchases and use of products/services that reduce indirect impacts on the environment, while increasing the sourcing of recycled and sustainably sourced products and materials.
“The environment is really important to BNY Mellon, another area of strength for us, I believe. We are delighted to remain on the Climate A List with CDP. They are a highly respected organization, and we are delighted to continue our leadership here. Here are a couple of things that we're doing to hopefully maintain our position. One... we are a carbon neutral company. We achieve carbon neutrality by reducing our scope one and two emission. We have reduced scope one and two emission by 42% since 2008. Two, we also purchase carbon offsets to reduce our scope one and scope three emissions. We purchase these offsets from partners that provide financing around the world that's achieved emission reduction elsewhere. So this is sort of a double whammy in terms of impact.”
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Heidi DuBois, Head of Corporate Social Responsibility and Social Investing, Head of CSR and Social Investing
