Press release
T. ROWE PRICE PUBLISHES 2023 SUSTAINABILITY REPORT, HIGHLIGHTING ACTIVE PROGRESS ON CORPORATE SUSTAINABILITY COMMITMENTS
BALTIMORE, June 20, 2024 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, recently published its 2023
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"BALTIMORE, June 20, 2024 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, recently published its 2023 Sustainability Report. The report provides insight into the firm's progress in its corporate sustainability strategy.\n\n\"Advancing our corporate sustainability strategy involves not only demonstrating progress on our corporate commitments, but also on improving transparency,\" says Heather McDonold, head of Corporate Sustainability. \"As voluntary sustainability reporting frameworks are becoming regulatory reporting requirements, we have actively worked to enhance our disclosures. We're pleased to offer a comprehensive summary of how our firm is embedding sustainability into its business and progressing our commitments.\"\nT. Rowe Price is a signatory of the United Nations Global Compact, committing to contribute to the advancement of the UN's Sustainable Development Goals (SDGs). The firm's sustainability strategy aligns with advancing the SDGs.\nInitiatives highlighted in T. Rowe Price's 2023 report include:\nGender equality (SDG 5): In 2023, women represented 44% of its global workforce and 32.5% of its senior leaders. Current trends indicate that the firm is on track to increase representation of women in its global workforce to 46%, with 33% in senior roles, by 2025.Water and Sanitation (SDG 6) and Life Below Water (SDG 14): Launched partnership with the International Finance Corporation (IFC), part of the World Bank Group, to deliver a pioneering global blue bond venture that will increase access to finance for blue projects in emerging markets. Blue projects support the health, productivity, and resilience of the world's oceans and resources.Reduced Inequalities (SDG 10): In 2023, underrepresented talent represented 17.5% of its U.S. workforce and 7.9% of its senior leaders. Current trends indicate that the firm is on track to increase representation of underrepresented talent in its U.S. workforce to 19%, with 10% in senior roles, by 2025. Additionally, the firm fostered economic inclusion for underrepresented suppliers in the U.S., spending $50 million in 2023.Sustainable Cities and Communities (SDG 11): Achieved 48% environmentally certified real estate by square footage by year-end 2023. The firm is on track to achieve its goal to have 60% of global real estate square fo...