TIAA
TIAA is the United States’ leading provider of financial services in the academic, research, medical, cultural, and government fields. Our investment management subsidiary, Nuveen, is a global asset manager with more than $1 trillion in assets under management.  Founded over 100 years ago to help teachers retire with dignity, TIAA now serves five million individuals and more than 15,000 institutions across the entire not-for-profit sector, providing clients with financial solutions including investing, banking, advice and education, and retirement services. We manage money with a long-term perspective to help clients achieve financial well-being throughout their lives. Guided by our mission, we were one of the first institutional investors to engage its portfolio companies on social responsibility issues, beginning with corporate engagement on anti-apartheid in the 1970s. Today, we are a leader in Responsible Investing, with two-thirds of our assets committed to the United Nations Principles for Responsible Investment – and a goal to expand this to 100% of assets under management by 2020. Our aim is to achieve better outcomes for investors, our communities, and the planet.

Thasunda Brown Duckett

President and CEO, TIAA

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Roger W. Ferguson, Jr.

Roger Ferguson

Former President & Chief Executive Officer, TIAA

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We believe it is vital to state clearly to the world the set of our beliefs about Inclusive Capitalism. As such, we start with our Statement of Guiding Principles for Inclusive Capitalism. Knowing that words alone are not enough, each of us is making a series of commitments about how we will operate our institutions so that they help achieve Inclusive Capitalism. These commitments are forward-looking statements based on current goals, expectations and assumptions, which are not guarantees of future performance. For more information, please refer to our Terms of Use

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Summary

TIAA is committed to net zero emissions from our operations by 2040

Activities & Initiatives

We will continue to measure, manage and reduce our carbon footprint by setting and tracking of operational goals to move toward our 2040 net zero operational target.

Measures & Targets

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

SDG Focus Area(s):

Summary

TIAA is committed to addressing gaps in financial education among American students and by 2023 will provide more than 20,000 hours of learning to more than 10,000 students.

Activities & Initiatives

TIAA is committed to addressing significant gaps in financial education among American students, particularly in low- and moderate-income communities and among people of color.

Measures & Targets

Create our own financial education curriculum providing 20,000 hours of learning to more than 10,000 students by 2023.

SDG Focus Area(s):

Summary

TIAA Bank is committed to investing in the communities we serve and intends to maintain no less than $150 million in community-based investments through 2023.

Activities & Initiatives

TIAA Bank is committed to investing in the communities we serve and plans to make qualifying investments throughout its designated Community Reinvestment Act (CRA) Assessment Areas in proportion to the distribution of the Bank™s deposits and will also adjust annual goals relative to Tier 1 Capital.

Measures & Targets

The Bank intends to maintain no less than $150 million in community-based investments through 2023.

SDG Focus Area(s):

Summary

TIAA is committed to expanding our Supplier Diversity Program as we transition to Business Diversity by 2022.

Activities & Initiatives

TIAA is committed to partnering with diverse businesses and leaders, growing diverse spend, enhancing the Supply Chain Sustainability Program, and helping diverse businesses grow.

Measures & Targets

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.

SDG Focus Area(s):

Summary

TIAA is committed to following guidelines outlined by Fitwel, a certification system designed to strengthen health and well-being and promote adoption of healthy strategies though workplace design, with certification by 2022.

Activities & Initiatives

TIAA is committed to following guidelines outlined by Fitwel, with certification of all of our largest office sites by 2022.

Measures & Targets

In 2020, TIAA began the process to achieve Fitwel certification at TIAA’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.

SDG Focus Area(s):

Summary

TIAA’s General Account will provide impact-focused investments and will finance approximately 47,000 units of affordable housing by Year-End 2022.

Activities & Initiatives

Measures & Targets

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.

SDG Focus Area(s):

Summary

TIAA is committed to the transition to a low carbon economy through the decision to set the TIAA General Account target of achieving net zero emissions by 2050 and the delivery of net zero carbon real estate portfolios by 2040.

Activities & Initiatives

Through its asset manager, Nuveen, TIAA is committed to the transition to a low carbon economy and the effective management of its assets through identification and management of the physical impacts of climate change.

Measures & Targets

*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.

SDG Focus Area(s):

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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.