BALTIMORE, July 8, 2021 /PRNewswire/ --
NEWS
T. Rowe Price Group (NASDAQ-GS: TROW) has published its 2020 Sustainability Report, A Resolve to Reach Higher, highlighting progress on its sustainability journey, its commitment to increasing transparency and accountability, and plans for developing new environmental targets. The report is designed to provide a well-rounded picture of organizational initiatives related to the firm's corporate carbon footprint, social and human capital, continued response to the pandemic, and governance framework. It is available at troweprice.com/SustainabilityReport.
The report is anchored in two frameworks designed to provide a robust set of environmental, social, and governance (ESG) disclosures: The Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD). This is the second year the firm is following SASB standards for the asset management and custody activities industry and the first it is incorporating TCFD recommendations.
Supporting the firm's sustainability efforts, T. Rowe Price in 2020 became a TCFD supporter and earlier this year joined the SASB Alliance. The firm also hired Gaby Infante last year as the firm's first director of Corporate ESG. Ms. Infante was previously a corporate ratings analyst at S&P Global, an ESG specialist and advisor for the Inter-American Development Bank, and an international attorney for IDB Invest. She has an M.B.A. with a concentration in sustainability from the Yale School of Management and an LL.M. with a concentration in energy, environment, and natural resources law from the University of California, Berkeley.
More information about T. Rowe Price's ESG investing approach, including the ESG Annual Report, responsible investment guidelines, and proxy voting and engagement policies, is available at troweprice.com/esg.
QUOTES
Bill Stromberg, Chief Executive Officer:
"The series of overlapping crises of 2020 have brought to the forefront the need to think holistically about sustainability and to show progress in diversity, equity, and inclusion; community engagement; and climate change. This is a complex journey on which we are making progress, and despite the challenges of the past year the resolve of our associates to deliver results responsibly to our clients has never been stronger."
Gaby Infante, Director of Corporate ESG:
"T. Rowe Price remains committed to our sustainability journey and reporting on our progress in a timely and transparent manner. Utilizing both the SASB and TCFD frameworks provides our clients and stakeholders with decision-useful information and material ESG disclosures and, as an asset manager, is consistent with the recommendation we make to our investee companies for how they can enhance their own ESG disclosures."
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization with $1.59 trillion in assets under management as of May 31, 2021. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.
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SOURCE T. Rowe Price Group, Inc.
Public Relations: Brian Lewbart, 410-345-2242, brian.lewbart@troweprice.com; or Investor Relations: Linsley Carruth, 410-345-3717, linsley.carruth@troweprice.com
