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CSR Press Release

Northern Trust Publishes 2011 Corporate Social Responsibility Report

Employees Submit 1,160 Efficiency Ideas; Goals for 2012 Set

Submitted by: Northern Trust Corporation

Categories: Corporate Social Responsibility, Research, Reports & Publications

Posted: May 08, 2012 – 12:33 PM EST

 

CHICAGO, May 08 /CSRwire/ - Northern Trust Corporation (NASDAQ: NTRS), a leading provider of financial services for institutions, affluent individuals and families, released its second annual Corporate Social Responsibility (CSR) report today, detailing 2011 global initiatives and setting CSR goals for 2012. 

“Being a socially responsible corporation can manifest itself in many ways – all of which ultimately help make life better for our clients, shareholders, partners and the communities we serve,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “Whether promoting environmental stewardship, creating innovative initiatives to serve communities and people at risk, or improving client and partner satisfaction, a rigorous CSR program ensures that we set priorities to best reflect our principles of service, expertise and integrity.”

Highlights from the report during 2011 include:

  • 187,000 volunteer hours donated to organizations by Northern Trust staff globally.
  • $48 million spent with minority and women-owned firms in the U.S., a 6 percent increase from 2010.
  • $13.9 million cash contributions to charities and civic organizations worldwide.
  • a 3.75 percent reduction of greenhouse-gas emissions per full-time-employee.

Northern Trust also announced CSR goals for 2012, including efforts to:

  • Reduce paper consumption by 25 percent.
  • Achieve emissions reductions of 3 percent per full-time-employee, based on 2011 baseline.
  • Introduce a broader array of responsible investing investment solutions. Currently, Northern Trust manages approximately $17 billion in socially screened strategies.
  • Conduct review of Human Rights standards for critical and key suppliers.

“Corporate social responsibility – combined with strategic stakeholder engagement – is smart business,” said Connie Lindsey, executive vice president and head of Corporate Responsibility. “We believe CSR creates measurable growth and value as a fully integrated part of our business strategy.”

As part of Northern Trust’s 2011 efforts, a Global Productivity Council developed a sustainable corporate-wide process to identify, drive and measure efficiency-improvement ideas.  Local councils were organized around business units, functions and regions to ensure integration into the ongoing management of the business.  Staff worldwide generated more than 1,100 ideas for review and possible execution.

Northern Trust is widely recognized for corporate excellence. According to the U.S. Department of Commerce’s Minority Business Development Agency, “CEO commitment is the single most important component in establishing a successful corporate diversity strategy.” In 2011, Waddell was named to the “CEO Leadership Circle of Excellence” by the Minority Business Development Agency of the United States Department of Commerce.

Other Northern Trust rankings include:

  • One of the World's Most Admired Companies, Fortune magazine
  • Best Private Bank – U.S., Financial Times Group
  • Top 50 Companies for Executive Women for Third Consecutive Year, National Association for Female Executives (NAFE)
  • 100 Best Companies for Working Mothers, Working Mother magazine, 20th Year on the List
  • One of the Top 50 Companies for Latinas to Work for in the United States, Latina Style magazine, Fifth Consecutive Year
  • Ranked No. 11 in the 50 Out Front Companies for Diversity Leadership: Best Places for Diverse Managers to Work and Top 10 Best in Class Category for: Representation, Diversity MBA Magazine
  • Top 5 Overall Companies for Asian American Professionals, Best Places for Asians to Work, National Association of Asian American Professionals (NAAAP)
  • Henry Betts, M.D. Employment Advocacy Champion Award, Rehabilitation Institute of Chicago
  • 2011 Top Corporate Citizens of Metropolitan Chicago, United Way Chicago
  • Named to the World and North American Dow Jones Sustainability Indexes (DJSI) based on corporate sustainability performance.

Northern Trust was one of just two large U.S. banking institutions that did not cut shareholders’ dividends during the financial crisis and maintained its dividend for the 115th consecutive year in 2011, which also was Northern Trust’s 24th year of consecutive annual profits. Northern Trust strives to invest 1.5 percent of pre-tax profits in social initiatives. In the last five years, Northern Trust corporate philanthropy has contributed more than $72.6 million in support of nonprofit organizations worldwide.

Northern Trust’s CSR report complies with reporting standards of the Global Reporting Initiative™, an organization that pioneered the world’s most widely used sustainability reporting framework. Northern Trust also worked with Deloitte & Touche LLP to validate the report’s factual accuracy in an external assurance report.  Northern Trust's adherence to GRI’s framework, its numerous disclosures, and third-party review earned it a B+ reporting level from GRI.

To view the full 2011 CSR report, a condensed highlights report or customized report for Northern Trust, visit here.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2012, Northern Trust had assets under custody of US$4.6 trillion, and assets under investment management of US$716.5 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.

For more information, please contact:

Connie Lindsey CSR Head
Phone: 312.444.3578
Doug Holt Public Relations Director
Phone: 312.557.1571
Shaelyn Otikor CSR Project Manager
Phone: 312.444.5522

For more from this organization:

Northern Trust Corporation

 

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