2019 Corporate Social Responsibility Report: Achieve Greater
Report for Content
This report has been created in response to interactions with key stakeholder groups. Each stakeholder group is expected to use this report to gauge Northern Trust's progress on achieving our goals pertaining to ESG matters.
Period, Scope and Boundary
This report is based on information obtained, created and compiled for the fiscal year ended December 31, 2019, unless otherwise stated. Our previous report was for the fiscal year ended December 31, 2018. The boundary of this report includes 100 percent of our leased and owned offices and 100 percent of our workforce in all global regions in which we operate. There were no significant changes to our operations in 2019. No joint ventures or other entities are included unless otherwise noted . There are no restatements from prior years and no significant changes in size, structure, supply chain or ownership from previous reporting periods.
Northern Trust actively engages in dialogue with our stakeholders, including clients, employees, shareholders, communities, regulators, suppliers and peers. These stakeholder groups are determined based on our business strategy of serving corporations, institutions and individuals worldwide. Each stakeholder group informs our reputation, policies and best practices. We believe it is imperative to consult regularly with these groups through periodic in-person meetings, electronic communication, conferences and other platforms. Through these interactions, we receive suggestions and concerns related to our business practices.
This is our tenth year using the Global Reporting Initiative (GRI) framework. We are a member of the GRI Gold Community, and this is our fourth report using GRI Standards, the GRl's fifth generation of guidelines for sustainability reporting. This report has been prepared in accordance with the GRI Standards: Core option.
The report and its index provide details on the material aspects and topics that reflect economic, environmental and social impacts relevant to our business. In 2019, we conducted a review of our materiality assessment. The results will be used to refresh our key performance indicators in 2020.
CORE ASPECTS- Governance, Ethics and Operations, Responsible Sourcing and Environmental Impacts
EMPLOYEES- Global Talent Management, Diversity, Equity & Inclusion
SHARED VALUE- Community Development, Global Philanthropy and Volunteerism
SUSTAINABLE PRODUCTS AND SERVICES- ESG Integration, Responsible Investment Products and Services