Immediate steps to move toward our 2040 net zero operational target include:
– Analyzing our largest buildings that comprise more than 80% of our operational carbon footprint, and identifying specific actions to reduce our footprint.
– Updating our travel system to encourage associates to choose more carbon efficient travel options.
– Examining our flexible work arrangements to identify ways to decrease emissions associated with commuting.
– Working to educate associates on key topics and challenge them to adopt sustainable actions, while also coordinating with our Volunteer Council to encourage environmentally-focused volunteerism and philanthropy
Create our own financial education curriculum providing 20,000 hours of learning to more than 10,000 students by 2023.
The Bank intends to maintain no less than $150 million in community-based investments through 2023.
In 2021, TIAA remained in the top quartile for financial services in overall diverse procurement spend with over 1,300 diverse suppliers. Remaining competitive with our peers and aspiring to be industry leaders, we endeavor to increase our diverse spend to 14% at a minimum by the end of 2022, while also measuring diversity in those staffed on our accounts and in the investments we make.
As a part of the Supply Chain Sustainability Program, we are also challenging our suppliers to maintain a sustainability focus in the environment, human rights, health and safety, labor standards, corruption prevention and sustainable procurement.
In 2020, TIAA began the process to achieve Fitwel certification at TIAAâ€™s primary office sites. Aligned with completion of modernization projects at each location, TIAA aims to achieve Fitwel certification at our office sites in Denver, CO and New York City, NY in 2021 and at our office sites in Charlotte, NC in 2022.
Nuveen manages $1.3 billion through an investment in the Nuveen Global Impact Fund which channels capital to inclusive growth and social impact.
At the end of 2022, we will have active investments into more than 47,000 units. Of these, 94% were deeply affordable.
*TIAA will establish short term targets along the pathway to accomplish General Account net zero goal.
* We plan to achieve our General Account target through five core strategies:
– Encourage corporate action
– Influence emissions reduction of directly controlled assets
– Evaluate new investment activity
– Evaluate the disposition of assets that are not well positioned to transition to the low carbon economy
– Advocate for clear, consistent disclosure requirements for companies
* TIAA has a commitment to tackle the growing risks of climate change through the delivery of net zero carbon real estate portfolios by 2040, and has published its pathway to accomplish this goal.
Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.