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T. Rowe Price Global Impact Equity Fund
Annual Impact Report
Despite widespread recession concerns, markets performed unexpectedly well in 2023, particularly in the industrial and technology sectors.
Since its launch in 2021, the Global Impact Equity Fund has continuously refined its investment process, attracting increased interest in impact-focused investments. Our efforts are concentrated on health care, energy security, and sustainability, with notable innovations emerging in these areas.
Introduction: 2023 Impact Annual Report
We're really excited to bring you our latest Global Impact Equity Annual Report.
The annual report is our attempt to look back on the last year and measure the impact from our investments.
As a reminder, the companies we invest in provide positive environmental and social impact alongside of financial return.
Their products and services provide solutions for the environmental and social problems of tomorrow.
In the annual report, we've tried to be as transparent as possible, covering a whole range of real-world key performance indicators, engagement examples, as well as a whole range of case studies by sub pillar.
For instance, we talk about how Linde helps decarbonize heavy industry.
We look at how new bank in Latin America is enabling close to 75 million customers with financial inclusion and provide them with their first debit or credit card.
We look at how a company like Trex takes plastic out of landfill and converts that in a composite decking and diverts waste as a result.
We've also published two thought pieces, one on GLP-1s and how we believe we've reached a watershed moment where they can solve for diabetes, obesity and a whole range of other health problems.
In addition, we also cover microplastics and the damage they do to the human health as well as the environment, and we look at companies that can help solve that problem and provide solutions in that regard.
We couldn't be more excited about the prospects for impact investing in the years to come.
In this video, Hari Balkrishna, Portfolio Manager at T. Rowe Price, introduces our latest Global Impact Equity Annual Report, reflecting on the positive environmental, social, and financial outcomes of our investments over the past year.
He highlights key performance indicators, impactful case studies, and thought leadership pieces on health and environmental solutions, offering transparent insights into how companies are driving meaningful change and shaping a more sustainable future.
Impact goals and case studies
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Our easy-to-use Global Impact Equity Portfolio Tool gives you the ability to see exactly what companies we invest in and how they fit into our impact investment framework. Our select company case studies provide deeper insights on the rationale for their inclusion from both an impact and financial perspective.
All of the companies within the portfolio sit under our impact pillars and impact sub pillars.
Select a sub pillar below to view companies and their case studies.
Climate and Resource Impact Pillar
Reducing Greenhouse Gases (GHGs)
Aimed at decreasing greenhouse gas emissions through renewable energy generation, energy efficiency, and supporting technologies that facilitate decarbonisation.
Nurturing Circular Economies
Promotes waste reduction and materials reuse, aiming for economies that minimize waste and maximise resource use.
Promoting Healthy Ecosystems
Focuses on biodiversity, conservation, sustainable agriculture, and natural resource preservation aiming to restore ecosystems and promote sustainability.
Social Equity and Quality of Life
Improving Health
Focuses on companies advancing healthcare delivery, developing treatments, and improving affordability and access for better health outcomes.
Enabling Social Equity
Promotes equality and inclusiveness by providing services to underserved communities, enhancing education access, and ensuring equal opportunities for all.
Enhancing Quality of Life
Investments improve living standards via access to essential services like safety and cybersecurity, enhancing life quality in disadvantaged areas.
Sustainable Innovation & Productivity
Sustainable Technology
Investments in technologies that drive sustainability, supporting advancements that reduce environmental impact while enhancing technological capabilities.
Pillars and sub-pillar are proprietary to T. Rowe Price and were developed for the purpose of aligning portfolio holdings according to the impact being delivered. Data shown for T. Rowe Price Global Impact Equity Fund as of 31 December 2023. There were no holdings under the Building Sustainable Industry and Infrastructure sub pillar. Subject to change without notice. The securities represent 100% of the publicly traded securities in the portfolio. Figures may not total due to rounding.
All of the companies within the portfolio are aligned to at least one of the UN Sustainable Development Goals (UN SDGs).
Select a goal below to view companies and their case studies.
Data shown for the T. Rowe Price Global Impact Equity Fund as of 31 December 2023. Subject to change without notice.The securities represent 100% of the publicly traded securities in the portfolio. There were no holdings primarily aligned with UN SDGs 1, 2, 4, 11, 13, 14, 15, or 17. Figures may not total due to rounding . Source for images: United Nations. The trademarks shown are the property of their respective owners. Use does not imply endorsement, sponsorship, or affiliation of T. Rowe Price with any of the trademark owners.
The companies in the portfolio come from a broad range of industries.
Select an industry below to view companies and their case studies. Click here for the full list of industries.
Software
Application software enhances efficiency throughout the value chain, helping customers minimize their environmental impact or fostering SME development.
Fund: 11.19%
Index: 7.48%
Relative: 3.72%
Banks
Emerging Markets financial institutions enable financial inclusion, retail SME formation and economic growth.
Fund: 8.93%
Index: 6.45%
Relative: 2.48%
Pharmaceuticals
Pharmaceutical companies provide innovative medical treatment at scale to improve patient outcomes.
Fund: 8.07%
Index: 4.67%
Relative: 3.41%
Life Sciences Tools & Services
Life science tools companies help drive innovation and reduce manufacturing cost in healthcare which improves patient outcomes.
Fund: 7.65%
Index: 1.09%
Relative: 6.55%
Semiconductors & Semiconductor Equipment
Companies in the semiconductor ecosystem improve energy efficiency across the value chain, resulting in significant reductions in emissions.
Fund: 6.78%
Index: 7.06%
Relative: -0.28%
Health Care Equipment & Supplies
Healthcare equipment companies provide medical technology such as robotic surgery or orthopedics which improves patient outcomes.
Fund: 5.79%
Index: 2.06%
Relative: 3.73%
Commercial Services & Supplies
Commercial services companies include environmental and facilities services such as waste management and water treatment companies.
Fund: 4.25%
Index: 0.54%
Relative: 3.71%
Electronic Equipment Instruments & Components
Electronic equipment companies provide critical parts to environmental and healthcare solutions such as sensors or connectors.
Fund: 4.16%
Index: 1.00%
Relative: 3.16%
Machinery
Machinery companies include multi-industrial companies that enable environmental solutions such as metering or flow control products.
Fund: 3.90%
Index: 1.95%
Relative: 1.95%
Chemicals
Chemical companies we invest in help accelerate the decarbonization of heavy industries.
Fund: 3.88%
Index: 2.13%
Relative: 1.75%
Data shown for the T. Rowe Price Global Impact Equity Fund as of 31 December 2023. Subject to change without notice. T. Rowe Price uses the current MSCI/S&P Global Industry Classification Standard (GICS) for sector and industry reporting.
At T. Rowe Price we implement limited sets of exclusions on our portfolios. View Our Exclusion Policy
Primary United Nations Sustainable Development Goal:
Good Health & Well-being
Ensure healthy lives and promote well-being for all at all ages.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Daiichi Sankyo | Create innovative pharmaceuticals addressing diverse medical needs, especially in the field of cancer treatment. Read case study |
Delivery of medical treatments helped extend approximately 38,000 lives | 1.34 |
| Eli Lilly | Increase access to truly innovative care in diabetes, Alzheimer's disease, and oncology Read case study |
Delivery of medical treatments helped extend approximately 2,955 lives | 3.23 |
| Agilent Technologies | Improving health care innovation and patient outcomes by being the leading supplier of life science and diagnostic tools to a wide range of end markets. | Approximately 3.4 billion diagnostic tests enabled | 1.04 |
| AIA Group | Offer access to insurance products in a region where penetration rates remain very low. | Access to life and health insurance services helped extend approximately 347,000 lives | 1.65 |
| AstraZeneca | Push the boundaries of science to deliver life-changing medicines, while increasing access to essential medicines. | Delivery of medical treatments helped extend approximately 68,000 lives | 1.52 |
| Becton Dickinson | Provide solutions that improve health care delivery, treatment, and patient outcomes. | Approximately 30.3 million patients treated by the company's products | 1.73 |
| Danaher | Advance patient health and improve treatment outcomes through solutions that enable superior clinical decision-making, research, and manufacturing of therapeutics. | Approximately 1 million tests performed per hour on Beckman Coulter instruments | 2.05 |
| DSM-Firmenich | Reduce hunger and malnutrition in the food chain and improve nutrition for those who need it most. | Reached 227 million people with immunity-supporting products and 62 million people with plant-based food | 1.30 |
| Evotec | Provide sophisticated drug discovery tools and platforms that help reduce the cost and time involved in drug development. | Solutions help enable reduction in time and cost of drug development by 30% and 50%, respectively, vs conventional in-house discovery | 0.88 |
| Hamamatsu Photonics | Improve the detection of health care issues through better imaging as well as improving automotive safety through LiDAR technology. | JPY 12.3 billion spent on research and development | 1.16 |
| HDFC Life Insurance | Increase financial inclusion for retail and micro, small, and medium enterprises with a specific focus on semiurban and rural areas. | 65 million people protected from economic impact from health care costs or death of a family member | 1.29 |
| Intuitive Surgical | Make surgery more effective, less invasive, and easier on patients and surgeons through advanced robotics. | Surgical procedures assisted by Intuitive's da Vinci robotics systems helped extend approximately 1,300 lives | 1.85 |
| Sartorius | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 170 million spent on research and development | 1.41 |
| Sonova | Help diagnose and address hearing loss for patients and enhance their quality of life | Approximately 5 million patients treated by the company's hearing devices | 0.51 |
| Stryker | Provide innovative solutions that improve treatment outcomes and quality of life for patients. | Approximately 150 million patients served by the company's devices | 1.70 |
| Thermo Fisher Scientific | Provide innovative solutions to help improve lift for patients and therapeutic research and development outcomes. | Organ transplants enabled by Ther,o Fisher helped extend approximately 224,000 lives | 2.27 |
| UnitedHealth | Provide a health care safety net while improving coverage for aging populations and pursuing cost reduction initiatives. | Approximately 11,500 lives extended as a result of Medicaid membership | 2.39 |
| Veeva Systems | Enabling health care companies to engage in faster and more accurate clinical trials and achieve better health care outcomes. | Veeva's software solutions serve roughly 1,432 customers | 1.38 |
| Zoetis | Provide products and services that improve companion animal health and the quality of life in the livestock food chain. | USD 614 million spent on research and development | 1.99 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Gender Equality
Achieve gender equality and empower all women and girls.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Bright Horizons Family Solutions | Allowing working parents to more effectively manage careers while providing more opportunities for dual careers, reducing gender inequities. | Back-up care services helped families save approximately 100,800 missed working days due to emergency childcare needs | 1.50 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Clean Water & Sanitation
Ensure availability and sustainable management of water and sanitation for all.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Mueller Water Products | Help deliver clean, safe drinking water, enabling sustainable management and efficient use. Read case study |
Muellet Water Products 'EcoShore' solutions helped save 1.8 billion of gallons of water | 0.81 |
| Veralto | Help support cleaner and more efficient water supply at scale and enhance product quality and safety. Read case study |
Veralto's ChemTreat water treatment solutions helped save 81 billion gallons of water | 0.58 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Affordable and Clean Energy
Ensure access to affordable, reliable, sustainable and modern energy for all.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Linde | Accelerate environmental transition and a lower carbon future through innovation in green hydrogen and carbon capture, as well as decarbonizing heavy industries Read case study |
Solutions helped mitigate 91 million tCO2e | 2.59 |
| SPIE | Help customers increase energy efficiency, scale up renewable energy projects, and reduce emissions. Read case study |
Renovation of buildings helped mitigate 29,353 tCO2e | 0.83 |
| Brookfield Renewable Partners | Contribute toward the generation of zero-carbon electricity. | Renewable energy generation helped mitigate 42 million tCO2e | 1.90 |
| Canadian National Railway Co | Enable decarbonization of freight transport in the U.S. and Canada through conversion from road to rail. | Conversion from road to rail freight helped mitigate 13.1 million tCO2e | 1.80 |
| Hubbell | Enable electricity grid resilience through modernization and slectrification while also integrating renewables | Products helped mitigate 78,843 tCO2e | 1.86 |
| Ingersoll Rand | Increase energy efficiency while allowing customers to reduce their carbon footprint. | Products helped mitigate 27.1 million tCO2e | 1.45 |
| Li Auto | Develop NEVs, which have lower air pollution impact than internal combustion engine vehicles. | Li Auto electric vehicles sold helped mitigate 444,916 tCO2e | 0.88 |
| Monolithic Power Systems | Help improve energy efficiency of chips and aid decarbonization in end markets with high power density semiconductors. | Products helped mitigate 1.4 million tCO2e | 1.24 |
| PG&E | Enable decarbonization by increasing electrification. | Renewable energy generation helped mitigate 680,000 tCO2e | 1.69 |
| Roper Technologies | Increase resource efficiency. | Cloud-based productivity software helped mitigate approximately 1.2 million tCO2e | 2.77 |
| Schneider Electric | Enable electrification and industrial digitization, thus reducing emissions. | Products helped mitigate 112 million tCO2e | 1.46 |
| SolarEdge Technologies | Enable solar energy generation, mitigating carbon dioxide emissions from fossil fuel-based power. | Solar energy systems helped mitigate 40 million tCO2e | 0.87 |
| TE Connectivity | Enable the transition and adoption of EVs and enhance safety and autonomy features through connectivity solutions | Solutions helped mitigate 261 million tCO2e | 1.14 |
| Tesla | Accelerate decarbonization by improving access to electric vehicles and renewable energy sources in place of fossil-fuel powered alternatives | Electric vehicles helped mitigate 20 million tCO2e | 0.74 |
| Trane Technologies | Improve energy efficiency in commercial and residentail buildings. | Produts helped mitigate 64 million tCO2e | 0.76 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Decent Work & Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| MSA Safety | Protect workers from injuries and health-threatening incidents. Read case study |
Over 40 million workers protected by personal protection equipment | 0.82 |
| MercadoLibre | Facilitate transition from cash to online payments, helping advance financial inclusion. | Supported 110,840 jobs and 574,000 SMEs approximately | 1.41 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Industry, Innovation & Infrastructure
Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| ASML | Enable energy efficiency and digital connections through innovation in chip manufacturing. Read case study |
Downstream energy efficiency gains through products helped mitigate 724,000 tCO2e | 2.69 |
| Synopsys | Enabling innovative chip design that improves energy efficiency and reduces the digital divide. Read case study |
25% power reduction enabled by Synopsys Systems on a chip (SoCs) designs | 1.47 |
| Bank Central Asia | Supporting financial inclusion in Indonesia. | Supported 61,400 jobs and 79,000 underbanked people approximately | 2.04 |
| BDO Unibank | Increasing financial inclusion in the Philippines, enabling economic growth and reduction in financial inequalities. | Supported 109,900 jobs and 1.9 million underbanked people approximately | 1.31 |
| Taiwan Semiconductor Manufacturing Company | Improve energy efficiency and foster digital connections throughout the world. | Products helped mitigate 12.9 million tCO2e | 1.97 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Reduced Inequalities
Reduce inequality within and among countries.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Nu Holdings | Promote financial inclusion by providing low‑cost services to underserved or unbanked populations. Read case study |
Supported 5.7 million underbanked people approximately | 0.97 |
| OneMain Holdings | Improve credit access to those with limited access while also providing budgeting and financial literacy resources. Read case study |
Supported 2.3 million underbanked people approximately | 1.97 |
| Asia Commercial Bank | Increasing financial inclusion in Vietnam, enabling economic growth and reduction in financial inequalities. | Supported 46,200 jobs and 7.1 million underbanked people approximately | 0.99 |
| Axis Bank | Increase financial inclusion for retail and micro, small, and medium enterprises in India. | Supported 92,000 jobs and 3.9 million underbanked people approximately | 1.61 |
| Chailease Holding | Offer leasing services to SMEs often neglected by large institutions. | Supported 211,000 jobs and 226,888 underbanked people approximately | 1.49 |
| GoDaddy | Enable formation and growth in online presence of small businesses, individual entrepreneurs, and developers. | Supported 21 million SMEs approximately | 0.79 |
| HDFC Bank | Increase financial inclusion for retail and micro, small, and medium enterprises with a specific focus on semiurban and rural areas. | Supported 492,000 jobs and 4.9 million underbanked people approximately | 2.00 |
| HubSpot | Enable financial inclusion by providing affordable technology solutions to SMEs powered by energy-efficient solutions. | Supported 205,091 SMEs approximately | 1.42 |
| Intuit | Promote financial inclusion using new technology to help consumers and SMEs. | Supported 6,445 jobs and 100 million SMEs approximately | 2.07 |
| Kanzhun | Promotes greater inclusivity of employment by increasing opportunities for underprivileged groups. | Supported 11.6 million SMEs approximately | 0.79 |
| Shopify | Enable SMEs easy access and opportunity to create and manage online businesses enabling effective competition. | Supported 5.2 million jobs | 1.46 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Responsible Consumption & Production
Ensure sustainable consumption and production patterns.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Docusign | Improve paper-use practices and reduce waste by moving legacy processes onto digital platform. Read case study |
Electronic signature software services helped mitigate 635,029 tCO2e | 0.75 |
| Trex | Increase use of recycled plastic and wood, reducing landfill and deforestation. Read case study |
Use of recycled material helped avoid approximately 422,000 metric tons of waste | 1.03 |
| Ashtead Group | Reduce the need to produce new equipment units and, therefore, carbon emissions associated with equipment ownership and underuse. | Rental servcies helped save 595,581 tCO2e | 1.19 |
| Autodesk | Facilitate building and manufacturing processes that are more efficient in energy and raw material use. | USD 1.0 billion spent on research and development | 1.10 |
| Ball Corporation | Reduce reliance on single-use plastics and replace with highly recyclable material, decreasing waste that goes to landfills. | Use of recycled material helped avoid approximately 1.9 million of waste | 1.30 |
| Darling Ingredients | Contribute toward circularity by recycling and reusing byproducts of the rendering process. | Rendering business and biodiesel production helped mitigate 19.5 million tCO2e | 1.73 |
| IDEX Corporation | Supply engineered solutions to create efficiencies in manufacturing, life sciences, and health care. | USD 175 million spent on research and development | 1.64 |
| Keyence | Reduce manufacturing waste while improving product safety. | USD 162.8 million spent on research and development | 1.86 |
| Waste Connections | Enable improved waste recycling rates while mitigating methane emissions from waste. | Recycling operations helped mitigate 22.6 million tCO2e | 2.01 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Primary United Nations Sustainable Development Goal:
Peace, Justice & Strong Institutions
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Fortinet | Provide cyber protection for cloud and data center operations powered by energy‑efficient solutions. Read case study |
Over 730,000 enterprises protected by Fortinet solutions | 1.60 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact Sub Pillar:
Reducing Greenhouse Gases (GHGs)
Aimed at decreasing greenhouse gas emissions through renewable energy generation, energy efficiency, and supporting technologies that facilitate decarbonisation.
Below are the companies associated with this sub pillar and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Linde | Accelerate environmental transition and a lower-carbon future through innovation in green hydrogen and carbon capture, as well as decarbonizing heavy industries. Read case study |
Solutions helped mitigate 91 million tCO2e | 2.59 |
| SPIE | Help customers increase energy efficiency, scale up renewable energy projects, and reduce emissions. Read case study |
Renovation of buildings helped mitigate 29,353 tCO2e | 0.83 |
| Brookfield Renewable Partners | Contribute toward the generation of zero-carbon electricity. | Renewable energy generation helped mitigate 42 million tCO2e | 1.90 |
| Canadian National Railway | Enable decarbonization of freight transport in the U.S. and Canada through conversion from road to rail. | Conversion from road to rail freight helped mitigate 13.1 million tCO2e | 1.80 |
| Hubbell | Enable electricity grid resilience through modernization and electrification while also integrating renewables. | Products helped mitigate 78,843 tCO2e | 1.86 |
| Li Auto | Develop NEVs, which have lower air pollution impact than internal combustion engine vehicles. | Li Auto electric vehicles sold helped mitigate 444,916 tCO2e | 0.88 |
| Ingersoll Rand | Increase energy efficiency while allowing customers to reduce their carbon footprint. | Products helped mitigate 27.1 million tCO2e | 1.45 |
| Monolithic Power Systems | Help improve energy efficiency of chips and aid decarbonization in end markets with high power density semiconductors. | Products helped mitigate 1.4 million tCO2e | 1.24 |
| PG&E | Enable decarbonization by increasing electrification. | Renewable energy generation helped mitigate 680,000 tCO2e | 1.69 |
| Roper Technologies | Increase resource efficiency. | Cloud-based productivity software helped mitigate approximately 1.2 million tCO2e | 2.77 |
| Schneider Electric | Enable electrification and industrial digitization, thus reducing emissions. | Products helped mitigate 112 million tCO2e | 1.46 |
| SolarEdge Technologies | Enable solar energy generation, mitigating carbon dioxide emissions from fossil fuel-based power. | Solar energy systems helped mitigate 40 million tCO2e | 0.87 |
| TE Connectivity | Enable the transition and adoption of EVs and enhance safety and autonomy features through connectivity solutions. | Solutions helped mitigate 261 million tCO2e | 1.14 |
| Tesla | Accelerate decarbonization by improving access to electric vehicles and renewable energy sources in place of fossil fuel-powered alternatives. | Electric vehicles helped mitigate 20 million tCO2e | 0.74 |
| Trane Technologies | Improve energy efficiency in commercial and residential buildings. | Products helped mitigate 64 million tCO2e | 0.76 |
| Waste Connections | Enable improved waste recycling rates while mitigating methane emissions from waste. | Recycling operations helped mitigate 22.6 million tCO2e | 2.01 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact Sub Pillar:
Promoting Healthy Ecosystems
Focuses on biodiversity, conservation, sustainable agriculture, and natural resource preservation aiming to restore ecosystems and promote sustainability.
Below are the companies associated with this sub pillar and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Mueller Water Products | Help deliver clean, safe drinking water, enabling sustainable management and efficient use Read case study |
Mueller Water Products 'EcoShore' solutions helped save 1.8 billion gallons of water | 0.81 |
| Veralto | Help support cleaner and more efficient water supply at scale and enhance product quality and safety. Read case study |
Veralto's ChemTreat water treatment solutions helped save 81 billion gallons of water | 0.58 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact Sub Pillar:
Nurturing Circular Economies
Promotes waste reduction and materials reuse, aiming for economies that minimize waste and maximise resource use.
Below are the companies associated with this sub pillar and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Docusign | Improve paper-use practices and reduce waste by moving legacy processes onto digital platform Read case study |
Electronic signature software services helped mitigate 635,029 tCO2e | 0.75 |
| Trex | Increase use of recycled plastic and wood, reducing landfill and deforestation. Read case study |
Use of recycled material helped avoid approximately 422,000 metric tons of waste | 1.03 |
| Ashtead Group | Reduce the need to produce new equipment units and, therefore, carbon emissions associated with equipment ownership and underuse. | Rental services helped save 595,581 tCO2e | 1.19 |
| Autodesk | Facilitate building and manufacturing processes that are more efficient in energy and raw material use. | USD 1.0 billion spent on research and development | 1.10 |
| Ball Corporation | Reduce reliance on single-use plastics and replace with highly recyclable material, decreasing waste that goes to landfills. | Use of recycled material helped avoid approximately 1.9 million of waste | 1.30 |
| Darling Ingredients | Contribute toward circularity by recycling and reusing byproducts of the rendering process. | Rendering business and biodiesel production helped mitigate 19.5 million tCO2e | 1.73 |
| IDEX Corporation | Supply engineered solutions to create efficiencies in manufacturing, life sciences, and health care. | USD 175 million spent on research and development | 1.64 |
| Keyence | Reduce manufacturing waste while improving product safety | USD 162.8 million spent on research and development | 1.86 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact Sub Pillar:
Enhancing Quality of Life
Investments improve living standards via access to essential services like safety and cybersecurity, enhancing life quality in disadvantaged areas.
Below are the companies associated with this sub pillar and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Fortinet | Provide cyber protection for cloud and data center operations powered by energy-efficient solutions. Read case study |
Over 730,000 enterprises protected by Fortinet solutions | 1.60 |
| MSA Safety | Protect workers from injuries and health-threatening incidents. Read case study |
Over 40 million workers protected by personal protection equipment | 0.82 |
| AIA Group | Offer access to insurance products in a region where penetration rates remain very low. | Access to life and health insurance services helped extend approximately 347,000 lives | 1.65 |
| HDFC Life Insurance | Narrow the protection gap by providing insurance solutions to the most underprotected and vulnerable populations. | 65 million people protected from economic impact from health care costs or death of a family member | 1.29 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact Sub Pillar:
Improving Health
Focuses on companies advancing healthcare delivery, developing treatments, and improving affordability and access for better health outcomes.
Below are the companies associated with this sub pillar and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Eli Lilly | Increase access to truly innovative care in diabetes, Alzheimer’s disease, and oncology. Read case study |
Delivery of medical treatments helped extend approximately 2,955 lives | 3.23 |
| Daiichi Sankyo | Create innovative pharmaceuticals addressing diverse medical needs, especially in the field of cancer treatment. Read case study |
Delivery of medical treatments helped extend approximately 38,000 lives | 1.34 |
| Agilent Technologies | Improving health care innovation and patient outcomes by being the leading supplier of life science and diagnostic tools to a wide range of end markets. | Approximately 3.4 billion diagnostic tests enabled | 1.04 |
| AstraZeneca | Push the boundaries of science to deliver life‑changing medicines, while increasing access to essential medicines. | Delivery of medical treatments helped extend approximately 68,000 lives | 1.52 |
| Becton Dickinson | Provide solutions that improve health care delivery, treatment, and patient outcomes. | Approximately 30.3 million patients treated by the company's products | 1.73 |
| Danaher | Advance patient health and improve treatment outcomes through solutions that enable superior clinical decision‑making, research, and manufacturing of therapeutics. | Approximately 1 million tests performed per hour on Beckman Coulter instruments | 2.05 |
| DSM-Firmenich | Reduce hunger and malnutrition in the food chain and improve nutrition for those who need it most. | Reached 227 million people with immunity-supporting products and 62 milion people with plant-based food | 1.30 |
| Evotec | Provide sophisticated drug discovery tools and platforms that help reduce the cost and time involved in drug development. | Solutions help enable reduction in time and cost of drug development by 30% and 50%, respectively, vs conventional in-house discovery | 0.88 |
| Hamamatsu Photonics | Improve the detection of health care issues through better imaging as well as improving automotive safety through LiDAR technology. | JPY12.3 billion spent on research and development | 1.16 |
| Intuitive Surgical | Make surgery more effective, less invasive, and easier on patients and surgeons through advanced robotics. | Surgical procedures assisted by Intuitive's da Vinci robotic systems helped extend approximately 1,300 lives | 1.85 |
| Sartorius | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 170 million spent on research and development | 1.41 |
| Sonova | Help diagnose and address hearing loss for patients and enhance their quality of life. | Approximately 5 million patients treated by the company's hearing devices | 0.51 |
| Stryker | Provide innovative solutions that improve treatment outcomes and quality of life for patients. | Approximately 150 million patients served by the company's devices | 1.70 |
| Thermo Fisher Scientific | Provide innovative solutions to help improve life for patients and therapeutic research and development outcomes. | Organ transplants enabled by Thermo Fisher helped extend 224,000 lives | 2.27 |
| UnitedHealth | Provide a health care safety net while improving coverage for aging populations and pursuing cost reduction initiatives. | Approximately 11,500 lives extended as a result of Medicaid membership | 2.39 |
| Veeva Systems | Enabling health care companies to engage in faster and more accurate clinical trials and achieve better health care outcomes. | Veeva's software solutions serve roughly 1,432 customers | 1.38 |
| Zoetis | Provide products and services that improve companion animal health and the quality of life in the livestock food chain. | USD 614 million spent on research and development | 1.99 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact Sub Pillar:
Sustainable Technology
Investments in technologies that drive sustainability, supporting advancements that reduce environmental impact while enhancing technological capabilities.
Below are the companies associated with this sub pillar and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| ASML | Enable energy efficiency and digital connections through innovation in chip manufacturing. Read case study |
Downstream energy efficiency gains through products helped mitigate 724,000 tCO2e | 2.69 |
| Synopsys | Enabling innovative chip design that improves energy efficiency and reduces the digital divide. Read case study |
25% power reduction enabled by Synopsys Systems on a chip (SoCs) designs | 1.47 |
| Taiwan Semiconductor Manufacturing Company | Improve energy efficiency and foster digital connections throughout the world. | Products helped mitigate 12.9 million tCO2e | 1.97 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Software
Application software enhances efficiency throughout the value chain, helping customers minimize their environmental impact or fostering SME development.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Docusign | Improve paper-use practices and reduce waste by moving legacy processes onto digital platform. Read case study |
Electronic signature software services helped mitigate 635,029 tCO2e | 0.75 |
| Fortinet | Provide cyber protection for cloud and data center operations powered by energy-efficient solutions. Read case study |
Over 730,000 enterprises protected by Fortinet solutions | 1.60 |
| Synopsys | Enabling innovative chip design that improves energy efficiency and reduces the digital divide. Read case study |
25% power reduction enabled by Synopsys Systems on a chip (SoCs) designs | 1.47 |
| Autodesk | Facilitate building and manufacturing processes that are more efficient in energy and raw material use. | USD 1.0 billion spent on research and development | 1.10 |
| HubSpot | Enable financial inclusion by providing affordable technology solutions to SMEs powered by energy efficient solutions. | Supported 205,091 SMEs approximately | 1.42 |
| Intuit | Promote financial inclusion using new technology to help consumers and SMEs. | Supported 6,445 jobs and 100 million SMEs approximately | 2.07 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Banks
Emerging Markets financial institutions enable financial inclusion, retail SME formation and economic growth.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Nu Holdings | Promote financial inclusion by providing low‑cost services to underserved or unbanked populations. Read case study |
Supported 5.7 million underbanked people approximately | 0.97 |
| Asia Commercial Bank | Increasing financial inclusion in Vietnam, enabling economic growth and reduction in financial inequalities. | Supported 46,200 jobs and 7.1 million underbanked people approximately | 0.99 |
| Axis Bank | Increase financial inclusion for retail and micro, small, and medium enterprises in India. | Supported 92,000 jobs and 3.9 million underbanked people approximately | 1.61 |
| Bank Central Asia | Supporting financial inclusion in Indonesia. | Supported 61,400 jobs and 79,000 underbanked people approximately | 2.04 |
| BDO Unibank | Increasing financial inclusion in the Philippines, enabling economic growth and reduction in financial inequalities. | Supported 109,900 jobs and 1.9 million underbanked peopl approximately | 1.31 |
| HDFC Bank | Increase financial inclusion for retail and micro, small, and medium enterprises with a specific focus on semiurban and rural areas. | Supported 492,000 jobs and 4.9 million underbanked people approximately | 2.00 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Pharmaceuticals
Pharmaceutical companies provide innovative medical treatment at scale to improve patient outcomes.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Daiichi Sankyo | Create innovative pharmaceuticals addressing diverse medical needs, especially in the field of cancer treatment. Read case study |
Delivery of medical treatments helped extend approximately 38,000 lives | 1.34 |
| Eli Lilly | Increase access to truly innovative care in diabetes, Alzheimer’s disease, and oncology. Read case study |
Delivery of medical treatments helped extend approximately 2,955 lives | 3.23 |
| AstraZeneca | Push the boundaries of science to deliver life‑changing medicines while increasing access to essential medicines. | Delivery of medical treatments helped extend approximately 68,000 lives | 1.52 |
| Zoetis | Provide products and services that improve companion animal health and the quality of life in the livestock food chain. | USD 614 million spent on research and development | 1.99 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Life Sciences Tools & Services
Life science tools companies help drive innovation and reduce manufacturing cost in healthcare which improves patient outcomes.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Agilent Technologies | Improving health care innovation and patient outcomes by being the leading supplier of life science and diagnostic tools to a wide range of end markets. | Approximately 3.4 billion diagnostic tests enabled | 1.04 |
| Danaher | Advance patient health and improve treatment outcomes through solutions that enable superior clinical decision‑making, research, and manufacturing of therapeutics. | Approximately 1 million tests performed per hour on Beckman Coulter instruments | 2.05 |
| Evotec | Provide sophisticated drug discovery tools and platforms that help reduce the cost and time involved in drug development. | Solutions help enable reduction in time and cost of drug development by 30% and 50%, respectively, vs conventional in-house discovery | 0.88 |
| Sartorius | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 170 million spent on research and development | 1.41 |
| Thermo Fisher Scientific | Provide innovative solutions to help improve life for patients and therapeutic research and development outcomes. | Organ transplants enabled by Thermo Fisher helped extend 224,000 lives | 2.27 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Semiconductors & Semiconductor Equipment
Companies in the semiconductor ecosystem improve energy efficiency across the value chain, resulting in significant reductions in emissions.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| ASML | Enable energy efficiency and digital connections through innovation in chip manufacturing. Read case study |
Downstream energy efficiency gains through products helped mitigate 724,000 tCO2e | 2.69 |
| Monolithic Power Systems | Help improve energy efficiency of chips and aid decarbonization in end markets with high power density semiconductors. | Products helped mitigate 1.4 million tCO2e | 1.24 |
| SolarEdge Technologies | Enable solar energy generation, mitigating carbon dioxide emissions from fossil fuel‑based power. | Solar energy systems helped mitigate 40 million tCO2e | 0.87 |
| Taiwan Semiconductor Manufacturing Company | Improve energy efficiency and foster digital connections throughout the world. | Products helped mitigate 12.9 million tCO2e | 1.97 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Health Care Equipment & Supplies
Healthcare equipment companies provide medical technology such as robotic surgery or orthopedics which improves patient outcomes.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Becton Dickinson | Provide solutions that improve health care delivery, treatment, and patient outcomes. | Approximately 30.3 million patients treated by the company's products | 1.73 |
| Intuitive Surgical | Make surgery more effective, less invasive, and easier on patients and surgeons through advanced robotics. | Surgical procedures assisted by Intuitive's da Vinci robotic systems helped helped extend approximately 1,300 lives | 1.85 |
| Sonova | Help diagnose and address hearing loss for patients and enhance their quality of life. | Approximately 5 million patients treated by the company's hearing devices | 0.51 |
| Stryker | Provide innovative solutions that improve treatment outcomes and quality of life for patients. | Approximately 150 million patients served by the company's devices | 1.70 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Commercial Services & Supplies
Commercial services companies include environmental and facilities services such as waste management and water treatment companies.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| MSA Safety | Protect workers from injuries and health-threatening incidents. Read case study |
Over 40 million workers protected by personal protection equipment | 0.82 |
| SPIE | Help customers increase energy efficiency, scale up renewable energy projects, and reduce emissions. Read case study |
Renovation of buildings helped mitigate 29,353 tCO2e | 0.83 |
| Veralto | Help support cleaner and more efficient water supply at scale and enhance product quality and safety. Read case study |
Veralto's ChemTreat water treatment solutions helped save 81 billion gallons of water | 0.58 |
| Waste Connections | Enable improved waste recycling rates while mitigating methane emissions from waste. | Recycling operations helped mitigate 22.6 million tCO2e | 2.01 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Electronic Equipment Instruments & Components
Electronic equipment companies provide critical parts to environmental and healthcare solutions such as sensors or connectors.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Keyence | Reduce manufacturing waste while improving product safety. | USD 162.8 million spent on research and development | 1.86 |
| Hamamatsu Photonics | Improve the detection of health care issues through better imaging as well as improving automotive safety through LiDAR technology. | JPY12.3 billion spent on research and development | 1.16 |
| TE Connectivity | Enable the transition and adoption of EVs and enhance safety and autonomy features through connectivity solutions. | Solutions helped mitigate 261 million tCO2e | 1.14 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Machinery
Machinery companies include multi-industrial companies that enable environmental solutions such as metering or flow control products.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Mueller Water Products | Help deliver clean, safe drinking water, enabling sustainable management and efficient use. Read case study |
Mueller Water Products ‘EcoShore’ solutions helped save 1.8 billion gallons of water | 0.81 |
| IDEX Corporation | Supply engineered solutions to create efficiencies in manufacturing, life sciences, and health care. | USD 175 million spent on research and development | 1.64 |
| Ingersoll Rand | Increase energy efficiency while allowing customers to reduce their carbon footprint. | Products helped mitigate 27.1 million tCO2e | 1.45 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Top 10 Industries:
Chemicals
Chemical companies we invest in help accelerate the decarbonization of heavy industries.
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Fund |
|---|---|---|---|
| Linde | Accelerate environmental transition and a lower-carbon future through innovation in green hydrogen and carbon capture, as well as decarbonizing heavy industries. Read case study |
Solutions helped mitigate 91 million tCO2e | 2.59 |
| DSM-Firmenich | Reduce hunger and malnutrition in the food chain and improve nutrition for those who need it most. | Reached 227 million people with immunity-supporting products and 62 milion people with plant-based food | 1.30 |
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
Impact outcomes
The companies in which the Global Impact Equity Fund invests deliver positive contributions across several areas of impact. While the absolute level of impact associated with each company may be sizable, the extent to which impact is associated with any one strategy naturally relies on the level of investment made. As such, the below data1 are presented in two ways: (1) in aggregate at the company level and (2) normalised to represent the impact associated with USD 1 million invested in the Global Impact Equity Fund.
731.4 million
metric tons of CO2e2 avoided at the company level
226
metric tons of CO2e avoided per USD 1 million invested
Ashtead Group, ASML, Brookfield Renewable Partners, Canadian National Railway, Darling Ingredients, Docusign, Hubbell, Ingersoll Rand, Li Auto, Linde, Monolithic Power Systems, PG&E, Roper Technologies, Schneider Electric, SolarEdge Technologies, SPIE, TE Connectivity, Tesla, Trane Technologies, TSMC, Waste Connections
362.6 million
cubic meters of water saved at the company level
161
cubic meters of water saved per USD 1 million invested
Darling Ingredients, Docusign, Mueller Water Products, Veralto
78.9 million
megawatt hours of green energy produced at the company level
226
megawatt hours of green energy produced per USD 1 million invested
Brookfield Renewable Partners, PG&E
23.7 million
metric tons of waste avoided at the company level
28
metric tons of waste avoided per USD 1 million invested
Ball Corporation, Darling Ingredients, Docusign, Trex, Waste Connections
206.6 million
patients treated at the company level
117
patients treated per USD 1 million invested
AstraZeneca, Becton Dickinson, Daiichi Sankyo, Eli Lilly, Intuitive Surgical, Linde, Thermo Fisher Scientific
26.3 million
underbanked people served3 at the company level
117
underbanked people served per USD 1 million invested
Asia Commercial Bank, Axis Bank, Bank Central Asia, BDO Unibank, Chailease Holding, HDFC Bank, Nu Holdings, OneMain Holdings
133.4 million
small and medium-sized enterprises (SMEs) supported at the company level
35
small and medium-sized enterprises supported per USD 1 million invested
GoDaddy, HubSpot, Intuit, Kanzhun, MercadoLibre
120.2 billion
loans provided (USD) to SMEs at the company level
28,284
loans provided (USD) to SMEs per USD 1 million invested
Asia Commercial Bank, Axis Bank, Chailease Holding, HDFC Bank, Intuit, MercadoLibre
Read the full annual report
Our 50+ page report contains:
Portfolio alignment and changes (pg. 7)
Thematic insights (pg. 9)
Impact outcomes and case studies (pg. 18)
Active ownership (pg. 31)
Advocacy and engagement initiatives (pg. 41)
Thematic insights
Aug 2024
ESG
Could GLP-1s help rebalance the food trilemma?
Anti-obesity medications could play a key role in balancing the food trilemma.
Jul 2024
EQUITY
Artificial intelligence, health care, and energy transition: Three areas of focus for impact
How innovations in artificial intelligence, health care, and the energy transition can create value.
Hari Balkrishna
Portfolio Manager
The Global Impact Equity Fund
Since the launch of the fund in 2021, we have made several refinements to:
- Strengthen investment process and improve data quality.
- Enhance impact reporting focused on transparency and the environmental / social impact of investments.
- Improve our engagement with the management teams of the companies that we own to increase our understanding of real-world impact.
For the latest portfolio holdings, positioning and reports, visit our detailed product page.
1 For illustrative purposes only. The impact outcomes provided here can be susceptible to potential inconsistencies due to lack of precise information. Companies do not measure or report in a consistent or uniform way. Where information is not available, we have not included a company’s contribution within the impact outcome. This means that these estimates may actually be conservative, but as companies get better at measuring impact, we expect these data points to become even more precise. Additionally, normalized data estimates the impact of the portfolio’s holdings and is calculated by multiplying each core impact KPI at the aggregate company level by the fraction of the company’s total enterprise value including cash (EVIC) that is owned by the portfolio based on a hypothetical investment of USD 1 million for the period end. Individual company results may vary significantly and may not achieve the same level of impact in the future. Based on company reported data.
2 CO2e: carbon dioxide equivalent or CO2 equivalent. This metric is used to compare the emissions from various greenhouse gases on the basis of their global warming potential by converting amounts of other gases to the equivalent amount of carbon dioxide with the same global warming potential. Source: Eurostat.
3 Underbanked refers to people who do not have sufficient access to mainstream financial services.
Additional Disclosures
Holdings shown are for illustrative purposes only and are subject to change without notice.
The specific securities identified and described are for informational purposes only and do not represent recommendations or statement of opinion intended to influence a person or persons in making a decision in relation to investment. The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the portfolio, and no assumptions should be made that the securities identified and discussed were or will be profitable. T. Rowe Price may have ongoing business and/or client relationships with the companies mentioned in the report.
The use of impact key performance indicators ("KPI") is not intended to provide a forward-looking view on the likely performance of each issuer held in the portfolio. Instead, it is intended to document how we will assess the positive additional impact that each issuer’s economic activities are having on the real world. For example, we would note that increasing revenue streams from sustainable economic activities does not necessarily equate to increasing profits, nor does it necessarily equate to positive share price performance. Our investment analysis will also focus on the profitability and perceived value of each issuer and their sustainable initiatives, but this does not form part of the impact KPI.
Important Information
Equity Trustees Limited (“Equity Trustees”) (ABN: 46 004 031 298, AFSL: 240975), is the Responsible Entity for the T. Rowe Price Australian Unit Trusts ("the Fund"). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN: 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This webpage has been prepared by T. Rowe Price Australia Limited ("TRPAU") (ABN: 13 620 668 895, AFSL: 503741) to provide you with general information only. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither TRPAU, Equity Trustees nor any of its related parties, their employees or directors, provide and warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.
Past performance is not a reliable indicator of future performance. You should obtain a copy of the Product Disclosure Statement, which is available from Equity Trustees (www.eqt.com.au/insto) or TRPAU (www.troweprice.com.au), before making a decision about whether to invest in the Fund named in this material.
The Fund’s Target Market Determination is available here. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.
202502-4084771
Impact Sub Pillar:
Enabling Social Equity
Promotes equality and inclusiveness by providing services to underserved communities, enhancing education access, and ensuring equal opportunities for all.
Below are the companies associated with this sub pillar and the impact they aim to create.
Read case study
Read case study
Company specific data were provided by the company during an ESG engagement or are available through company reports. Information presented has been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness.
Data shown for the T. Rowe Price Global Impact Equity Fund as of December, 31 2023. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.