We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of September 2022, Justin Chapman is on the board of AFME.
Justin Chapman (Northern Trust, Executive Vice President - Global Executive Securities Services and Global Head Market Advocacy & Innovation)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of September 2022, Northern Trust is a member of AFME
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of September 2022, Justin Chapman is on the board of AFME.
Justin Chapman (Northern Trust, Executive Vice President - Global Executive Securities Services and Global Head Market Advocacy & Innovation)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of September 2022, Northern Trust is a member of AFME
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of ICI.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Cynthia R. Plouché is on the board of ICI.
Cynthia R. Plouché (Independent Director, Northern Trust Funds)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of ICI.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Cynthia R. Plouché is on the board of ICI.
Cynthia R. Plouché (Independent Director, Northern Trust Funds)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of The Investment Association
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Marie Dzanis is a board member at The Investment Association
Marie Dzanis (Head of Europe, Middle East and Africa (EMEA) - Northern Trust Asset Management)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of The Investment Association
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Marie Dzanis is a board member at The Investment Association
Marie Dzanis (Head of Europe, Middle East and Africa (EMEA) - Northern Trust Asset Management)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of BPI.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Michael O'Grady no longer appears to be on the board of Northern Trust.
Michael O'Grady (Chairman and CEO, Northern Trust)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of BPI.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of BPI.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Michael O'Grady no longer appears to be on the board of Northern Trust.
Michael O'Grady (Chairman and CEO, Northern Trust)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a member of BPI.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a board member of the MFA. As of March 2023, this no longer appears to be the case.
Peter Cherecwich (President – Corporate & Institutional Services)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a strategic partner of the MFA
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a board member of the MFA. As of March 2023, this no longer appears to be the case.
Peter Cherecwich (President – Corporate & Institutional Services)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Northern Trust is a strategic partner of the MFA
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of October 2022, Northern Trust Global Services is a member of UK Finance which is a national association member of EBF
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of October 2022, Northern Trust Global Services is a member of UK Finance which is a national association member of EBF
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of September 2022, Northern Trust Asset Management is a member of the IIGCC
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of September 2022, Northern Trust Asset Management is a member of the IIGCC
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Open PDF file of Data Source
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: Northern Trust appears to have somewhat limited engagement on sustainable finance policy, generally supporting regulated corporate ESG disclosure and taking a more mixed position on policies to incorporate ESG factors into investor duties.
Top-Line Messaging on Sustainable Finance Policy: Northern Trust Asset Management has recognized the systemic risk climate change poses to the financial system, but appears to support investor-led actions to address this risk rather than systemic reform. Northern Trust has stated support for increasing green investments in line with a 2C target and advocated action to achieve net zero by 2050. Northern Trust has stated support for regulatory action on sustainable finance and characterized the EU’s approach to ESG regulation as a “well-designed plan” for other policymakers to follow.
Position on Regulated Corporate ESG Disclosure: Northern Trust appears to have taken mixed positions on regulated corporate ESG disclosure. In a May 2022 insights video, Northern Trust stated broad support for ESG disclosure regulation and aligning disclosure frameworks with the TCFD. However, in an April 2022 insights paper, Northern Trust appeared not to support the SEC’s proposed climate disclosure rule, emphasizing the cost of compliance with the proposed regulations and questioning the rule’s benefits. In comments to the SEC in June 2022, Northern Trust Asset Management took a mixed position toward the proposed rule, supporting the Scope 3 disclosure requirements and financial impact statement requirements but requesting an extended timeline for implementation and suggesting some companies and funds be exempt from reporting. In comments to the International Sustainability Standards Board in July 2022, Northern Trust Asset Management expressed strong support for the Board’s draft climate disclosure standards which are likely to inform government policy, including endorsing the draft’s Scope 3 disclosure requirements.
Position on Incorporating ESG Factors Into Investor Duties: In an insights paper from August 2020, Northern Trust Asset Management contended that Trump-era Department of Labor rules would not completely shut down ESG investing, while also asserting that consideration of ESG can enhance investment analysis. In comments on the Biden-era Department of Labor’s 2021 rule that sought to overturn the Trump regulation, Northern Trust Asset Management asked for specific references to ESG considerations to be removed from language governing fiduciaries’ investment duties. In a 2022 blog post, Northern Trust Asset Management stated support for the final rule, which had removed the specific ESG considerations from its language.
Industry Association Governance: Northern Trust has disclosed the primary trade associations to which it belongs but omitted others, with no detail about indirect influence governance.