Continued expansion of the company’s responsible investment practices drove strong achievements across its portfolio
New York, July 16, 2013 — TIAA-CREF announced today the release of its 2013 Responsible Investment Report. The report highlights many of the company’s responsible investment strategies across the various asset classes in which the company invests, as well as within its socially responsible investing portfolios.
"For nearly a century, TIAA-CREF has been driven by the guiding principle that long-term investing is the best way to create lifelong financial well-being for the people we serve,” said Roger W. Ferguson Jr., president and chief executive officer of TIAA-CREF. “We know that strong governance and responsible business practices can also provide financial benefits and add value to our investments. In addition, we’ve seen a growing demand from our clients for investment strategies that can help them achieve their goals while also considering the environmental, social and governance implications.”
TIAA-CREF has a long-standing commitment to responsible investing that is consistent with its not-for-profit heritage and mission to serve those in the academic and nonprofit sectors. The company continues to expand and enhance its responsible investment practices and has made progress over the last year in implementing and promoting responsible investing, while seeking long-term returns for clients.
Achievements highlighted in the 2013 Responsible Investment Report include:
TIAA-CREF has more than $14 billion in assets across its Social Choice product suite1, making it among the largest managers of responsibly invested assets incorporating environmental, social and governance (ESG) criteria.2
The company’s Global Real Estate Sustainability Initiative helped reduce electricity consumption by 124 million kilowatt hours and cut 57,897 metric tons of greenhouse gas emissions across its office portfolio—comparable to removing roughly 11,400 cars from the nation’s roads for one year.
TIAA-CREF has engaged with the companies in which it invests on a range of issues—from executive compensation to the environment. For example, in 2012 alone, TIAA-CREF held conversations with management teams of approximately 400 companies regarding their executive compensation policies.
TIAA-CREF’s Social Investment Program portfolio now totals $664 million. The company is directing future investments toward affordable housing, financial services to underserved populations, and services to low- to middle-income communities— including childcare, education, healthcare and environmental improvements.
Through TIAA-CREF’s $4 billion farmland platform,3 the company directed capital to land maintenance and development, making the investor community part of the solution to the financial challenges facing landowners.
For a fourth consecutive year, TIAA-CREF received the U.S. Environmental Protection Agency’s ENERGY STAR Sustained Excellence Award—the program’s highest honor. TIAA-CREF is the only financial services organization to be honored for its leadership and commitment in this area by earning the “Sustained Excellence” level of recognition.
In addition to these accomplishments, the report also highlights TIAA-CREF’s collaboration and thought leadership activities within the industry including:
Since 2009, TIAA-CREF has been a signatory to the United Nations-supported Principles for Responsible Investment (PRI), whose objective is to help investors integrate the consideration of ESG issues into investment decision making and ownership practices across all asset classes and regions.
The company is a proud member of USSIF—The Forum for Sustainable and Responsible Investment. TIAA-CREF is a benefactor sponsor of the USSIF Foundation’s flagship research project, the Report on Sustainable and Responsible Investing Trends in the United States—a biennial report that serves as a critical benchmarking measure for the industry.
In March 2013, TIAA-CREF launched the TIAA-CREF Center for Farmland Research at the University of Illinois to enhance the university’s research and educational initiatives for its students and the agriculture community, including investors, farmers, researchers and businesses.
) is a national financial services organization with $523 billion in assets under management (as of 06.30.13
) and is the leading provider of retirement services in the academic, research, medical and cultural fields.