Corporate social responsibility
There are three key elements, or pillars, of our work in CSR. The three pillars relate to our corporate responsibilities to:
- our markets - we seek to protect client interests and operate our business with integrity and resilience
- our people - we seek to encourage effective leadership, well-being, diversity and inclusion for our staff
- our world - we seek to invest and act responsibly to protect the wider world and, locally, to support the community including through the sponsorship of the arts and sciences and charitable partnerships
In practice, this means:
Our markets: we aim to achieve our goals through robust risk management and governance. We aim for forward-looking identification and assessment of potential risks considering both quantitative and qualitative impacts. Clear reporting and escalation processes to ensure that the residual risk profile of the firm is appropriate and in line with the Board's risk appetite and timely setting and regular monitoring of actions required to reduce the risk profile or improve the control environment where these are deemed appropriate.
Our people: develop successful leaders and managers who drive high productivity and engagement within their teams while challenging ourselves and our recruitment partners to ensure we have the right initiatives in place to encourage the promotion and development of a diverse workforce. Be recognised as an employer of choice.
Our world: increase access to our ESG capabilities while seeking to develop vehicles that offer broader access to our responsible investment capabilities. Support a global charity partner that has been voted for by colleagues with fundraising and volunteering. In addition, we will launch an education programme to ensure future generations are financially astute. We are addressing the use of single use plastic in the office while encouraging colleagues to recycle more and reduce waste from printers.
Charity committee: the Insight Charity Committee comprises members from across the business who meet monthly to deliver events and initiatives that bring colleagues together while raising money for charities.
Charity partner: We have a relationship in place with a global charity partner, reviewed on a periodic basis that is able to fulfil the following criteria.
Our current partner is the Make-A-Wish Foundation. Make-A-Wish grant life-changing wishes for children with critical illnesses; making wishes come true for over 900 children in the UK alone last year. This is a global relationship with each of our offices supporting a local chapter. Over the course of 2019 fundraising initiatives have taken place in London, New York, Frankfurt and Manchester enabling us to grant three wishes.
Matched funding and support: for employees and initiatives in scope, BNY Mellon provides dollar matching on team and individual fundraising projects and volunteering events, including donations via salary sacrifice and board service. Employees are entitled to two paid volunteer days each year which can be used for our charity partner or for an organisation of their choice.
Moving to environmentally friendly printing: in 2019, we moved to environmentally friendly print production in all locations, including renewable and 100% recyclable card covers and paper sustainably sourced from FSC certified suppliers. It is acid-free, with cotton based fibres to minimise environmental impact and low carbon steel, PET coated wire binding. PET, a non-toxic material used in the food packaging industry, passes all safety and environmental guidelines. Notes have been added on our website to discourage printing of pdfs.
Carbon neutral flights: this year, we signed up with charitable partner ‘Trees for Cities’ and planted more than 2,000 trees in an initiative to offset the carbon generated by our flights. Insight was carbon neutral on all business travel as a result in 2018.
Reducing plastics in our offices: over the course of 2019, we remodelled our kitchen areas in London removing single use plastic items and rolling out keep cups and water flasks to staff globally. In New York, meeting suite visitors are now offered water from glass bottles (which has always been the case in London).
Enhanced brand protection services to prevent fraud: in 2019 we enhanced our ability to challenge online frauds targeting the general public and Insight contacts by adding an online brand protection service to identify groups seeking to use Insight’s trademarks and identity to mislead contacts and commit financial fraud. Several fraudulent enterprises have been identified and shut down in 2019 and ongoing monitoring of the digital landscape has been enhanced as an early warning system.
Insight places great importance on the integrity of its information processing and has a low appetite for information risk. As well as its own operational requirements, Insight commits to protecting clients’ information and individual privacy to the highest standards. The Information Security Management System (ISMS) operates in a governance structure which is visible and accessible to the firm’s senior management. To provide assurance to clients, regulators and others that management of these priorities is aligned with the best modern practice, with the appetite of the firm, and the needs of stakeholders, Insight has chosen to obtain and maintain public certification of compliance with the relevant standards, obtaining and retaining certification to ISO 27001 (Information Security) since 2008, and ISO 22301 (Business Continuity) since 2012.
Diversity and inclusion
In addition to our ongoing programme, we have supported a number of initiatives in 2019 to promote gender diversity; including a mentoring programme through the 30% Club for senior women and in partnership with Henley Business School, we have rolled out the third cohort of Women at Insight.
We have joined the Diversity Project and committed to adhere to their related standards as part of our efforts to demonstrate inclusivity within our organisation.
All colleagues have access to, and are encouraged to participate in, the employee resource groups (ERGs) that BNY Mellon operates. ERGs, comprise of employees who voluntarily convene and mobilise around a shared characteristic, interest or set of experiences, are key drivers for BNY Mellon’s diversity and inclusion strategy. As ERG members, employees increase their visibility inside and outside of their respective business units, express and establish their unique value outside of their day-to-day work and help ensure our differences contribute to the success of the company.The aim of the Diversity Project is to create a truly diverse and inclusive UK investment and savings industry with the talent to deliver the best possible results for clients and to reflect the society we serve.
BNY Mellon is proud to sponsor the following ERGs:
- Genedge taps into and shares the knowledge capital, energy and range of talents within our diverse, multigenerational workforce to solve business problems. Learn more
- Heart increases awareness and education around the needs of people with disabilities. Learn more
- Impact provides an invaluable resource for the recruitment, retention, professional development and advancement of multicultural employees. Learn more
- Prism fosters an open and supportive environment for lesbian, gay, bisexual, transgender, queer/questioning and ally employees (LGBTQA). Learn more
- Vetnet serves as a resource for the recruitment, retention, professional development and advancement of military members as they transition to new careers and civilian life. Learn more
- Win promotes a culture of leadership and sponsorship to recognize and support the professional development and advancement of our women. Learn more
Supporting public awareness of the sciences
We support institutions whose purpose is the further public engagement with the sciences including the Insight Investment Astronomy Photographer of the Year competition. In 2019, the ‘Annie Maunder prize for image innovation’ (for images processing big data from open source telescopes) was added to the Astronomy Photographer of the Year competition. Annie Maunder (1868-1947) was a leading researcher in solar physics. Her diligent management of data, and talent for exploiting the imaging systems of the day, supported her important advances in our understanding of sunspots, the solar wind and other phenomena of the solar magnetosphere. Mrs Maunder was unable to collect her degree, by law had to resign from her job upon marriage and was excluded from scientific organisations of the time due to her sex, but she preserved a long association with the Royal Observatory and its fieldwork, and was eventually made a Fellow of the Royal Astronomical Society.
We have been supporting the Royal Society Insight Investment Science Book Prize since 2016 where authors challenge conventional wisdom in the sciences. In 2019 Caroline Criado Perez won for her book, Invisible Women. Previously won by Gaia Vince (Adventures in the Anthropocene), Andrea Wolf (Invention of Nature) and Cordelia Fine (Testosterone Rex).
BNY Mellon use their resources and expertise to create positive social impact. Explore their stories and outcomes across four global trends within their CSR report which Insight contributes to.
Please contact Sarah Hale:
+44 (0)20 7321 1311