Bank of New York Mellon (BNY Mellon)
Corprate Bias Ratings
Risk Level:
Summary:
Bank of New York Mellon (BNY Mellon), an American investment bank, allegedly fired a Christian employee due to disagreements over LGBTQ issues, and the resulting lawsuit ended in a settlement. The bank vets vendors according to LGBTQ policies and does not provide viewpoint protections for its employees. BNY Mellon does not discriminate against religious organizations in its charitable giving, though. BNY Mellon also covers abortion-related travel costs for employees and "medically necessary transition-related care” for its employees and their children. The company advocates for gender ideology in the public square. BNY Mellon is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. However, it has not used its political contributions to advance ideological causes. For these reasons, BNY Mellon receives a Medium Risk rating.
Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.
BNY Mellon received a score of 100 on the Human Rights Campaign’s (HRC) Corporate Equality Index. Among other requirements, this means the company has a written policy pledging to vet vendors for LGBTQ policies (1)(2). Additionally, a BNY Mellon recruiter claims she was fired because she publicly said that her religious beliefs prohibited her from supporting the LGBTQ community outside the workplace. BNY Mellon, however, claims she was fired for unprofessional conduct after an altercation (3). The dispute ended in a settlement in October 2021 (4).
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
BNY Mellon does not discriminate against religious organizations in its charitable giving (1).
Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.
BNY Mellon does not provide viewpoint protections for its employees (1).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
BNY Mellon is a member of LGBT Great (1). The CEO of BNY Mellon, Robin Vince, is a member of the Business Roundtable and Former CEO Charles Scharf signed its 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders and customers (2)(3). BNY Mellon has advocated for LGBT causes on its social media accounts (4). The company is a member of Climate Action 100+, committed to carbon neutrality by 2050 (5).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
BNY Mellon has a perfect score on the HRC’s 2022 Corporate Equality Index. This score indicates the company covers the cost of “medically necessary transition-related care” for its employees and their children (1)(2). BNY Mellon allegedly funded a Planned Parenthood event (3). BNY Mellon also will reimburse employee expenses for out-of-state abortions (4). BNY Mellon is a Bronze sponsor of Out & Equal (5).
All links were last accessed and all information was updated on:
December 6, 2023
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Voting History
| Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
|---|---|---|---|---|---|
| 4/12/23 | Governance | John Chevedden | Require Shareholder Approval of Termination Pay | Against | 11.70% |
| 4/12/22 | Governance | Kenneth Steiner | Special Meetings - Reduce Ownership Req. to 10% | Against | 38.12% |