Better Health for All
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Northern Trust's core business of financial services has no direct positive or negative health impact, and its products do not carry health risks, have addiction potential, or involve clinical trials, health data, or food production. Therefore, many health-related KPIs are not applicable. However, the company demonstrates strong commitment to mental health and healthcare education through its philanthropic efforts and internal programs. For mental health, Northern Trust launched internal campaigns in the UK (May 2017)
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and Ireland, including 'My Story' sessions, an internal website, and a Well-Being Day (January 2018).
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It partnered with Mental Health First Aid England, training 16 staff
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and planning mandatory training for over 90 managers in 2018,
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and received a bronze award in Mind’s Workplace Wellbeing Index 2017-18.
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Externally, it supports organizations providing mental health services to youth and vulnerable populations in Chicago, and helped Erie Family Health Centers increase access to behavioral health services for young people.
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In healthcare education, Northern Trust supported Erie Family Health Centers in providing health education to young people aged 16-24.
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It also supports organizations that provide nutrition education and training for health visitors.
Fair Money & Economic Opportunity
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Northern Trust's community investment portfolio totaled $5.3 billion as of December 31, 2024, representing 3.41% of its $155.5 billion in total consolidated assets.
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This portfolio is directed towards affordable housing, job creation, education, social services, and wealth accumulation. The company also invested $500,000 with Venture North, a Community Development Financial Institution, which facilitated $2.1 million in loans to diverse small businesses over six years, creating 89 new jobs and retaining 71.
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For fair lending, Northern Trust has consistently received an Outstanding rating on its Community Reinvestment Act exams since 1997, a period of 27 years.
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The Corporate Governance Committee of the Board of Directors annually reviews and approves the company's CRA and fair lending policies.
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Fair Pay & Worker Respect
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Northern Trust's CEO to median employee pay ratio was 150:1 in 2024, with the CEO's total compensation at $10,929,786 and the median employee's at $72,673.
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In Ireland, as of June 30, 2024, the median hourly pay for female partners was 3.5% lower than male partners, meaning women earned 96.5% of men's median hourly pay.
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The median bonus pay for female partners in Ireland was 18.8% lower than male partners.
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The company conducted a global salary review in 2023 using Fair Wage Network benchmark data.
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In 2024, Northern Trust launched an annual analysis of living wages globally to track and adjust pay rates.
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An employee engagement survey in 2024 achieved an 88% participation rate.
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Northern Trust commits to freedom of association and collective bargaining for its employees and mandates that suppliers recognize workers' rights to organize.
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The company prohibits hiring individuals under 18, except for a very small number of paid school interns.
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A review of Hotline reports during 2024 did not reveal concerns regarding Modern Slavery, and no notifications were received from suppliers about breaches of the Supplier Code.
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Northern Trust offers a broad range of health and wellness benefits, with executive officers participating on the same terms as other employees.
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As of December 31, 2024, Northern Trust employed approximately 23,300 full-time equivalent employees, with the large majority being full-time, permanent employees.
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In 2025, Northern Trust Company received a $6.9 million penalty for a benefit plan administrator violation.
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Fair Trade & Ethical Sourcing
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Northern Trust, a financial services provider, does not procure or trade physical commodities, thus fair-trade certification and material risk index are not applicable. The company reported zero substantiated forced or child labor incidents from its Hotline reports, supplier notifications, or screening processes during 2024, and also in 2021.
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Its Global Third Party (Supplier) Code of Conduct prohibits child and forced labor.
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In terms of ethical clause coverage, 87% of responding suppliers agreed to comply with Northern Trust's Supplier Code, with the remaining 13% having comparable codes, and Modern Slavery clauses were incorporated into contracts during 2024.
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The company directed 10% of its total procurement budget to diverse suppliers.
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However, no specific data is available on the average frequency of on-site audits for tier-1 suppliers, the percentage of suppliers with traceable provenance data, or the median days to close corrective action plans after violations.
Honest & Fair Business
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Northern Trust has a formal Whistleblowing Policy, implemented on April 30, 2025, which applies to all employees, contractors, and temporary staff across its entities.
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This policy provides protections against detriment for eligible whistleblowers, in line with the Corporations Act 2001 (Cth).
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Reports can be made 24/7 through confidential hotlines managed by NAVEX Global, an independent third-party, with international numbers available.
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The company endeavors to complete investigations within 90 days
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and provides annual whistleblowing training to applicable personnel.
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The effectiveness of the program is reported internally on an annual basis.
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Northern Trust also maintains a Global Anti-Bribery and Corruption Policy
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and a Global Anti-Money Laundering and Economic Sanctions Compliance Program,
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demonstrating its commitment to complying with laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act.
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In 2024, over 99% of employees completed annual mandatory training on the Standards of Conduct Policy, which includes anti-money laundering.
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The company conducts third-party due diligence for its suppliers, and 86% of responding suppliers have trained their workforce on anti-corruption topics.
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Kind to Animals
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Northern Trust Corporation, as a financial services company, does not directly engage in activities such as product manufacturing, animal testing, animal agriculture, or sourcing of animal-derived ingredients. Consequently, most direct animal welfare metrics, including cruelty-free certification, alternative testing usage, humane certifications for operations, ethical input substitution, cage-free sourcing, and animal testing volume or policy, are not applicable to its core business model. While Northern Trust Asset Management joined the FAIRR network in January 2023 to engage in collaborative efforts on animal welfare issues
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, this initiative focuses on investment risks in animal agriculture rather than developing animal-free testing or sourcing standards, thus mapping to N/A for animal-free R&D collaboration. No specific evidence is provided for wildlife conservation impact, supplier audits for animal welfare, innovation investment in animal-free technologies, or public policy engagement specifically related to animal welfare.
No War, No Weapons
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Northern Trust Corporation operates in financial services, distinct from military contracting, and neither produces nor trades military goods. However, the company acknowledges that potential indirect involvement in military goods could arise through investment strategies, with explicit details unavailable, meaning it cannot demonstrate verified zero exposure to controversial weapons. The company is committed to complying with sanctions laws, and all global vendors are screened against sanctions lists maintained by the U.S. Office of Foreign Assets Control.
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Its Global Third Party Code of Conduct expects suppliers to have a policy ensuring conflict minerals do not benefit armed groups and to respect human rights.
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Northern Trust Asset Management's engagement topics include monitoring for the production of cluster munitions and landmines.
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Northern Trust recognizes its responsibility to respect human rights as outlined in the UN Guiding Principles,
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its Code of Conduct is in accordance with UNGPs,
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and it became a signatory to the UN Global Compact in 2023.
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As a financial services firm, it is not subject to the Arms Trade Treaty and has no defense business or assets to oversee or divest.
Planet-Friendly Business
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Northern Trust has committed to achieving net-zero carbon emissions from business operations by 2050
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. However, these targets are not explicitly stated as SBTi-validated. In 2024, 16.5% of the company's total electricity consumption was sourced from renewable energy
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. 46% of its office square footage is covered by green building certificates
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. The waste diversion rate in 2024 was 28%
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. The company's approach to climate risk disclosure is aligned with the TCFD framework
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, and it has published an annual TCFD Report since 2023
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, which includes financed emissions data and mentions the use of scenario analysis and stress tests
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.
Respect for Cultures & Communities
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Northern Trust has established three formal partnerships with local community groups: the Public Education & Business Coalition (PEBC), Self-Help Federal Credit Union, and the Colorado Coalition for the Homeless (CCH).
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The company also collaborated with Leah Cummins of Bunya Designs for First Nations artwork as part of its Reconciliation Action Plan in Australia.
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No specific, quantifiable evidence was found for other Key Performance Indicators related to Respect for Cultures & Communities.
Safe & Smart Tech
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Northern Trust experienced a minor data breach in August 2022, affecting approximately 129 individuals.
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The company promptly disclosed the incident and offered free credit monitoring.
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Northern Trust has processes and controls in place to mitigate risks associated with AI solutions and monitors evolving laws and regulations to ensure compliance.
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The company maintains a comprehensive Information and Cyber Security Training and Awareness program, including required annual online training for all employees and contractors, supplemental and targeted training, simulated phishing/vishing attacks, and external learning subscriptions.
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Client-sensitive application data transmitted over the public Internet is encrypted using 128-bit encryption, PGP, or TLS.
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Communications containing personally identifiable information are not sent without encryption.
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The company also proactively manages digital certificates with a six-month SSL certificate renewal policy and has addressed outdated encryption practices.
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Northern Trust has implemented preventative controls such as addressing weak credentials and shared accounts, and system access is reviewed at least annually by management.
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No other incidents of unauthorized data use are documented. Northern Trust offers a form for individuals to submit rights requests, aligning with standard industry practices for user data control.
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The company maintains a regulatory change framework to monitor and respond to data privacy and security regulations, meets stringent financial sector requirements with audit-ready controls, and has implemented processes to ensure compliance with evolving AI regulations.
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It also received an "outstanding" CRA rating.
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Zero Waste & Sustainable Products
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Northern Trust recycled 28% of its waste in 2024.
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The company has implemented nine distinct waste reduction initiatives, including switching from paper to electronic documents, using QR codes to reduce printing, trialling plastic-free bin bags and compostable straws, and replacing plastic cups, plates, and cutlery with ceramic/stainless steel in some global locations. Other initiatives include chemical-free and plastic-free cleaning in City East Plaza, Ireland, the Dublin office using a national deposit return scheme, and the Chicago head office and Toronto site removing free disposable coffee cups.
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For hazardous waste management, specific members of the facilities team receive Legionella and Asbestos awareness training.
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