Northern Trust Sustainability Profile
Northern Trust Corporation, commonly known as Northern Trust, is a leading financial services provider headquartered in the United States. Established in 1889, the firm has built a strong reputation in the wealth management, asset servicing, and banking sectors, with a significant presence in major operational regions including North America, Europe, and Asia. Northern Trust offers a range of core services, including investment management, fiduciary services, and private banking, distinguished by its commitment to client-centric solutions and innovative technology. The company has achieved notable milestones, such as being a pioneer in the development of trust services and maintaining a strong market position as a trusted partner for institutional investors and high-net-worth individuals. With a focus on sustainability and responsible investing, Northern Trust continues to set industry standards while delivering exceptional value to its clients.
DitchCarbon Score
How does Northern Trust's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Northern Trust's score of 52 is higher than 70% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Northern Trust's reported carbon emissions
In 2023, Northern Trust reported total carbon emissions of approximately 73.3 million kg CO2e. This figure includes Scope 1 emissions of about 4.4 million kg CO2e, Scope 2 emissions of approximately 29.98 million kg CO2e, and Scope 3 emissions totalling around 38.94 million kg CO2e. Notably, the company has committed to achieving net-zero emissions across all scopes by 2050, as part of its long-term climate strategy. Comparatively, in 2022, Northern Trust's total emissions were approximately 79.4 million kg CO2e, indicating a reduction of about 6.1 million kg CO2e year-on-year. This reduction reflects the company's ongoing efforts to lower its carbon footprint, particularly in Scope 2 emissions, which decreased from approximately 35.1 million kg CO2e in 2022. Northern Trust's climate commitments are further supported by its membership in the Science Based Targets initiative (SBTi), where it has set a net-zero target. The company is actively working towards these goals, with a commitment to review and enhance its strategies in line with the latest climate science. Overall, Northern Trust's emissions data and climate commitments demonstrate a proactive approach to sustainability, aligning with industry standards and expectations for financial institutions.
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| 2015 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 3,071,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 46,036,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 20,054,000 | 00,000,000 | - | - | - | 00,000,000 | 00,000,000 |
How Carbon Intensive is Northern Trust's Industry?
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Northern Trust's Scope 3 Categories Breakdown
Northern Trust's Scope 3 emissions, which increased by 7% last year and increased by approximately 94% since 2015, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 53% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 29% of Scope 3 emissions.
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Northern Trust's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Northern Trust has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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