Nasdaq's Net-Zero Target Approved by The Science Based Targets Initiative
Pledges to reduce absolute Scope 1 and Scope 2 GHG emissions 100% and Scope 3 GHG emissions 50% by 2030
Pledges to reduce absolute Scope 3 GHG emissions 95% by 2050
NEW YORK, November 16, 2022 /3BL Media/ - Nasdaq (Nasdaq: NDAQ) announced today that its near- and long-term science-based emissions reduction targets have been approved by The Science Based Targets initiative (SBTi). Nasdaq has pledged to reduce absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions 100% and absolute Scope 3 GHG emissions 50% by 2030. SBTi has also validated Nasdaq’s pledge to reduce Scope 3 GHG emissions 95% to reach net-zero by 2050.
Nasdaq is committed to using its environment, social, and governance (ESG) efforts to lead the shift toward creating more sustainable capital markets. Guided by our purpose to drive economic progress for all, Nasdaq seeks to extend its impact beyond its operations by empowering markets and communities with strategic solutions that have measurable and lasting impacts.
“Nasdaq’s climate strategy seeks to reduce our carbon footprint and corresponding emissions and diversify our energy mix with a focus on prioritizing renewable energy sources,” said Ann Dennison, Executive Vice President and Chief Financial Officer at Nasdaq. “We are encouraged by the early progress we have made toward our corporate sustainability goals and remain committed to increasing transparency with all our stakeholders through our robust ESG reporting as we continue on our journey to reach our 2030 and 2050 net-zero targets.”
Near-term: 2030 Targets
Nasdaq pledges to:
- Reduce absolute Scope 1 and Scope 2 GHG emissions 100% by 2030 from a 2021 base year.
- Annually source 100% renewable electricity through 2030.
- Reduce absolute Scope 3 GHG emissions 50% by 2030 from a 2021 base year.
- Ensure that 70% of its suppliers by spend, covering purchased goods and services and capital goods, will set science-based targets by 2027.
Long-term: 2050 Targets
Nasdaq pledges to:
- Maintain a minimum of 100% absolute Scope 1 and Scope 2 GHG emissions reductions from 2030 through 2050 from a 2021 base year.
- Reduce absolute Scope 3 GHG emissions 95% by 2050 from a 2021 base year.
Nasdaq’s ESG Journey
Nasdaq has increased its renewable energy use across its operations to 100%, up from 82% in 2020. In addition, the company’s ESG scores improved across multiple rating agencies, highlighting Nasdaq’s continued commitment to implement and advance ESG best practices across our operations. Nasdaq received recognitions from the Dow Jones Sustainability Index, Bloomberg’s Gender-Equality Index, and the Human Rights Campaign’s Corporate Equality Index. In 2022, Nasdaq received three significant sustainability rating upgrades: a “AA” rating from MSCI, up from “BBB,” to join MSCI’s “Leaders” category alongside peer organizations that show strong management of their most significant ESG risks and opportunities; “Gold Status” from EcoVadis, a recognition reserved for the top 5% of all rated companies; and a score of 58 in the 2022 S&P Corporate Sustainability Assessment, an increase of 16% from our prior rating and which score placed Nasdaq in the 95th percentile.
Nasdaq is also a participant in key associations that are essential to continue the effort on consistent and transparent ESG reporting. Our association memberships include UN Principles for Responsible Investment (UNPRI), UN Global Compact, the Sustainable Stock Exchanges Initiative, the Task Force for Nature-related Financial Disclosures (TNFD) Forum, and the World Federation of Exchanges’ Sustainability Working Group.
“ESG has become a key consideration across Nasdaq’s value chain – from how we engage with our suppliers, to how we create a sustainable environment for our employees and help position our clients for success,” said Nina Eisenman, Vice President and Head of Corporate ESG Strategy at Nasdaq. “From our position at the intersection of markets and technology, we believe we play a key role by engaging with our clients on climate risks and providing ESG-focused marketplace solutions that help clients achieve their own ESG objectives.”
To learn more about Nasdaq’s corporate responsibility and sustainability commitments, visit: www.nasdaq.com/esg.
About Science Based Targets initiative: The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such "will," "commit," “pledge,” “seek,” "believe" and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to Nasdaq’s net zero commitments and broader emissions reduction targets and initiatives, including involving suppliers, and reporting of progress on these targets and initiatives. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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