NEW YORK, May 19, 2021 /PRNewswire/ — TIAA released its Responsible Business Report outlining how the company is making a positive impact on society and the people and institutions it serves.
The report provides an overview of TIAA’s corporate social responsibility and responsible investing policies and programs across impact areas including environmental stewardship, governance, community engagement, diversity, equity and inclusion and investing.
“Responsible business practices guide all that we do as an organization. This past year bolstered our commitment to our associates and our customers through enhanced inclusion, equity and diversity initiatives and sustainability and governance practices,” said Corie Pauling, Chief Inclusion Diversity & Equity Officer and Head of Corporate Social Responsibility at TIAA. “TIAA has a century-long history of innovative and responsible corporate citizenship and industry influence, but we recognize the need to stay focused and raise the bar on this work relentlessly. We are proud of our performance and progress to date and look forward to advancing this legacy with our new President and CEO, Thasunda Brown Duckett, who shares this deep commitment as key to both our values and our future success.”
Highlights from the report include:
- Received A to A+ for all reported UN Principles for Responsible Investment modules
- Recycled or salvaged more than 50% of construction waste
- Early adopter of responsible investing though Climate Action 100+, Global Impact Investing Network (GIIN), and Green Bond Principles
Diversity, Equity and Inclusion:
- Released our first EEO-1Audit Report outlining a detailed demographic breakdown of our workforce
- The TIAA Inclusion Index, an innovative approach to measuring inclusion throughout the employee lifecycle, increased 7 points to 81 in Q4 of 2020, with Black and Latinx associates matching or exceeding the overall score
- Introduced Transgender and Gender Non-Conforming Work Policy
- Recognized by Mental Health America for associate well-being efforts through the pandemic
- Launched “Be the Change” initiative to raise awareness of racial injustice and support communities in need
- Fifty percent of U.S.-based associates volunteered through community engagement programs and increased giving by 24%.
CSR – Rallying to Donate Critical Supplies
- Last March, after learning of dangerous supply shortages due to COVID-19, in just 48 hours, our teams rallied and collectively donated $300,000 for personal protective equipment (PPE), including N95 masks and medical supplies for New York City hospitals.
- We launched Operation Healthcare to collect and donate 70,000 PPE, sanitizer and other hygiene items from our buildings for our healthcare clients.
- Underrepresented racial and ethnic groups represented 55% of executive management team
- Women represented 47% of TIAA and CREF trustees and overseers
- Enhanced sustainability reporting with new alignment and disclosure from the Sustainability Accounting Standards Board (SASB)
To read the full report, click here.
With an award-winning1 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1.3 trillion in assets under management (as of 3/31/20212) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
1 The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. Lipper Leaders fund ratings do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. For more information, see lipperfundawards.com. The Award is based on a review of risk-adjusted performance of 39 companies for 2016, 36 for 2017, 35 for 2018 & 2019, and 30 for 2020. The award pertains only to the TIAA-CREF mutual funds in the mixed-asset category. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. Past performance does not guarantee future results. For current performance, rankings and prospectuses, please visit TIAA.org.
2 Based on approximately $1.3 trillion of assets under management across Nuveen affiliates and TIAA investment management teams as of 3/31/2021.