Press release
T. ROWE PRICE RELEASES 2022 ESG CORPORATE REPORT, HIGHLIGHTING PROGRESS AND FUTURE COMMITMENTS
BALTIMORE, Aug. 29, 2023 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), a global investment management firm, recently released its 2022
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"BALTIMORE, Aug. 29, 2023 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), a global investment management firm, recently released its 2022 Environmental, Social, and Governance (ESG) Corporate Report. The report comprehensively outlines the firm's commitment to and advancements in its sustainability strategy. Key highlights include:\nEnvironmental\nWe announced a new target to reach net zero scope 1 and 2 greenhouse gas (GHG) emissions by year-end 2040. Additionally, we set an interim target to reduce scope 1 and 2 GHG emissions by 75% by year-end 2030, compared with the firm's 2021 baseline. We continue to make progress against our existing environmental targets and commitments:\nWork toward having 60% of our global real estate by square footage environmentally certified by year-end 2025. Our new London office recently achieved an Excellent standard in Building Research Establishment Environmental Assessment Methodology (BREEAM), advancing progress toward this goal.Partner with Climate Vault to purchase carbon allowances to address GHG emissions resulting from business travel.Social\nIn 2022, we increased the percentage of women in global senior roles to 33%. We are on track to increase the diversity of the global workforce to 46% women by 2025 (44% in 2022).We increased U.S. workforce diversity in 2022 to include 19% underrepresented talent. Governance\nEstablished an ESG Enablement team to drive cross-functional consistency and coordination of the ESG strategy in alignment with business strategies and ESG investing capabilities.Established an ESG Oversight Committee as a central and global oversight body to support governance of our ESG activities.Within the report, the firm continued to publish its Taskforce on Climate-Related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) disclosures. T. Rowe Price is a member of the IFRS Sustainability Alliance, which oversees the SASB standards, and a supporter of TCFD.\n\"This report reflects our commitment to transparency and accountability as we advance our ESG initiatives through comprehensive policies, goals, and programs,\" said Poppy Allonby, head of ESG Enablement at T. Rowe Price. \"We are proud of our progress and will continue to work toward achieving our corporate commitments.\"\nThe information included in T. Rowe Price's 2022 ESG...