T. Rowe Price Global Impact Equity Strategy
Annual Impact Report
In 2024, the rise of AI and ongoing geopolitical conflicts heightened the need for sustainable solutions to environmental and social challenges.
Companies are innovating, from datacenter cooling to financial inclusion and healthcare advances. Our impact investing framework seeks to identify and support these leaders, driving positive change while navigating evolving ESG debates.
- Introduction
- Impact Goals and Case Studies
- Impact Outcomes
- Read Full Annual Report
- Thematic Insights
Introduction: 2024 Annual Impact Report
We're really excited to present to you our 2024 Global Impact Equity Annual Report.
2024 saw two themes really dominate markets, the rise of the prominence of artificial intelligence, and unfortunately geopolitical strife.
We believe that impact investing goes a long way toward solving these sustainability challenges.
For instance, companies that help data centers cool their operations down, bringing greenhouse gases down and reducing the risk of global warming.
On the social front, companies that promote financial inclusion in underserved communities are ones we continue to remain excited about over many years.
These companies, in our view, have tailwinds attached to their business model that should last for many years to come.
Our 2024 annual report attempts to measure the impact from our portfolio companies by presenting case studies and key performance indicators.
We hope you enjoy our annual report.
In this video, Hari Balkrishna, Portfolio Manager at T. Rowe Price, offers a brief
introduction to the 2024 Annual Impact Report.
2024 saw two themes really dominate markets, the rise of the prominence of artificial intelligence, and unfortunately geopolitical strife.
Our 2024 annual report attempts to measure the impact from our portfolio companies by presenting case studies and key performance indicators.
Impact goals and case studies
Share via Email
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.
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 the representative portfolio as of December 31, 2024. Subject to change without notice. Figures may not total due to rounding.
Note: Effective 1 January 2025, we removed the third pillar, Sustainable Innovation and Productivity, from our impact framework. This decision was driven by several factors: (1) the Sustainable Innovation and Productivity pillar became redundant, as securities within the pillar report against impact objectives that fit within the other pillars; (2) adopting a two-pillar model aligns with regulatory developments in some countries related to impact measurement and reporting; and (3) simplifying to a two-pillar model enhances clarity for our clients. As part of this change and to enhance clarity around our framework, we also changed the "Enhancing Quality of Life" sub pillar to "Improving Safety & Security". As new information becomes available and we innovate upon our approach, individual alignments may change from time to time. In this case, changes will only be made if we believe it enhances clarity for our clients.
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 representative portfolio as of December 31, 2024. 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. As new information becomes available and we innovate upon our approach, individual alignments may change from time to time. In this case, changes will only be made if we believe it enhances clarity for our clients.
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.
Banks
Emerging Markets financial institutions enable financial inclusion, retail SME formation and economic growth.
Portfolio: 10.85%
Index: 0.13%
Relative: 10.72%
Software
Application software enhances efficiency throughout the value chain, helping customers minimize their environmental impact or fostering SME development.
Portfolio: 10.35%
Index: 0.55%
Relative: 9.80%
Pharmaceuticals
Pharmaceutical companies provide innovative medical treatment at scale to improve patient outcomes.
Portfolio: 6.97%
Index: 1.11%
Relative: 5.86%
Machinery
Machinery companies include multi-industrial companies that enable environmental solutions such as metering or flow control products.
Portfolio: 6.74%
Index: 0.25%
Relative: 6.50%
Life Sciences Tools & Services
Life science tools companies help drive innovation and reduce manufacturing cost in healthcare which improves patient outcomes.
Portfolio: 6.58%
Index: 0.46%
Relative: 6.12%
Electrical Equipment
Companies manufacturing and distributing electrical equipment like motors, transformers, and switchgear for industrial, commercial, and utility use.
Portfolio: 6.53%
Index: 0.30%
Relative: 6.23%
Commercial Services & Supplies
Commercial services companies include environmental and facilities services such as waste management and water treatment companies.
Portfolio: 5.95%
Index: 0.09%
Relative: 5.86%
Electronic Equipment Instruments & Components
Electronic equipment companies provide critical parts to environmental and healthcare solutions such as sensors or connectors.
Portfolio: 5.60%
Index: 0.19%
Relative: 5.41%
Health Care Equipment & Supplies
Healthcare equipment companies provide medical technology such as robotic surgery or orthopedics which improves patient outcomes.
Portfolio: 5.59%
Index: 0.42%
Relative: 5.17%
Semiconductors & Semiconductor Equipment
Companies in the semiconductor ecosystem improve energy efficiency across the value chain, resulting in significant reductions in emissions.
Portfolio: 4.26%
Index: 0.44%
Relative: 3.82%
Data shown for the representative portfolio as of December 31, 2024. Subject to change without notice. T. Rowe Price uses the current MSCI/S&P Global Industry Classification Standard (GICS) for sector and industry reporting. Index refers to MSCI All Country World Index (Net) .
At T. Rowe Price we implement limited sets of exclusions on our portfolios. View Our Exclusion Policy
Primary United Nations Sustainable Development Goal:
Zero Hunger
End hunger, achieve food security and improved nutrition and promote sustainable agriculture.
Below are the companies associated with this UN SDG and the impact they aim to create.
| Company | Impact Goal | KPI | % of Portfolio |
|---|---|---|---|
| Deere | Promote precision and sustainable agriculture Read case study |
Agricultural equipment sold helped mitigate approximately 10.8 million tons of carbon dioxide equivalent (mtCO2e) | 1.95 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Intuitive Surgical | Make surgery more effective, less invasive, and easier on patients through advanced robotics Read case study |
Surgical procedures assisted by Intuitive's da Vinci robotic systems helped helped extend approximately 2,440 lives | 2.02 |
| AstraZeneca | Push the boundaries of science to deliver life-changing medicines, while increasing access to essential medicines. | Delivery of medical treatments helped extend approximately 85,408 lives | 2.06 |
| Chugai Pharmaceutical | Treat haemophilia patients with its Hemlibra product, which is the current standard of care for treating the condition. | JPY 176.7 billion spent on research and development | 1.35 |
| Danaher | Advance patient health and improve treatment outcomes through solutions that enable superior clinical decision-making, research, and manufacturing of therapeutics. | Approximately 55.4 million patients treated by the company's devices | 2.57 |
| Eli Lilly | Increase access to truly innovative care in diabetes, Alzheimer’s disease, and oncology. | Delivery of medical treatments helped treat 58 million people extend approximately 2,960 lives | 3.56 |
| Hamamatsu Photonics | Improve the detection of health care issues through better imaging as well as improving automotive safety through LiDAR technology. | JPY 13.5 billion spent on research and development | 1.26 |
| Sartorius | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 197 million spent on research and development | 0.97 |
| Sartorius Stedim Biotech | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 136 million spent on research and development | 0.67 |
| 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 | 1.61 |
| Stryker | Provide innovative solutions that improve treatment outcomes and quality of life for patients. | Approximately 150 million patients served by the company's devices | 1.97 |
| Thermo Fisher Scientific | Provide innovative solutions to help improve life for patients and therapeutic research and development outcomes. | Approximately 1.12 million patients served by the company's devices | 2.37 |
| UnitedHealth | Provide a health care safety net while improving coverage for aging populations and pursuing cost reduction initiatives. | Approximately 50.6 million health insurance lives covered | 1.80 |
| Veeva Systems | Enabling health care companies to engage in faster and more accurate clinical trials and achieve better health care outcomes. | Veeva Systems' software solutions serve roughly 1,477 customers | 0.65 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Bright Horizons Family Solutions | Allowing working parents to more effectively manage careers while providing more opportunities for dual careers, reducing gender inequities. | Early education and child care centers served approximately 115,000 children | 1.19 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Astral | Advance India's infrastructure improvement through provision of pipes for services such as water supply, drainage, sewerage, and agricultural irrigation. | Astral's pipe and water tank capacity in India represents 381,960 MT per annum approximately | 0.73 |
| Veralto | Help support cleaner and more efficient water supply at scale and enhance product quality and safety. | Veralto's treatment solutions helped save 322 million cubic meters of water | 1.04 |
| Xylem | Help customers mitigate water scarcity, optimize water systems to improve water affordability, prevent stormwater pollution. | Xylem products helped save 1 billion cubic meters of water | 1.13 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| SPIE | Help customers increase energy efficiency, scale up renewable energy projects, and reduce emissions. Read case study |
Renovation of buildings helped mitigate 33,827 metric tons of carbon dioxide equivalent (mtCO2e) | 1.35 |
| ASML | Through innovation in chip manufacturing, enable energy efficiency and digital connections. | Downstream energy efficiency gains through products helped mitigate approximately 2.8 million tons of carbon dioxide equivalent (tCO2e) | 1.67 |
| Brookfield Renewable Partners | Contribute toward the generation of zero-carbon electricity. | Renewable energy generation helped mitigate 58 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.27 |
| 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 13.2 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.48 |
| Delta Electronics | Offer wide range of products and services designed to enhance energy efficiency. | Products sold helped mitigate 15.2 million tons of carbon dioxide equivalent (mtCO2e) | 1.61 |
| First Solar | Help the shift to renewables and to reduce greenhouse gas emissions in electricity generation. | Solar PV modules helped mitigate 9.1 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.93 |
| Hubbell | Enable electricity grid resilience through modernization and electrification, while also integrating renewables. | Products helped mitigate 87,037 metric tons of carbon dioxide equivalent (mtCO2e) | 1.89 |
| Infineon Technologies | Support electrification and energy efficiency. | Products helped mitigate 130.3 million tons of carbon dioxide equivalent (mtCO2e) | 1.66 |
| Ingersoll Rand | Increase energy efficiency while allowing customers to reduce their carbon footprint. | Products helped mitigate 34.2 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.57 |
| Linde | Accelerate environmental transition and a lower carbon future through innovation in green hydrogen and carbon capture, as well as decarbonizing heavy industries. | Solutions helped mitigate 96 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.88 |
| National Grid | In addition to electricity distribution, enable decarbonization of the power sector in the UK and the US by connecting additional renewables to the grid. | National Grid infrastructure helped mitigate 1.5 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.42 |
| PG&E | Enable decarbonization by increasing electrification. | PG&E infrastructure helped mitigate 679,707 metric tons of carbon dioxide equivalent (mtCO2e) | 1.74 |
| Rockwell Automation | Help customers improve productivity and reduce energy use and emissions for numerous industrial processes. | USD 477 million spent on research and development | 1.61 |
| Roper Technologies | Increase resource efficiency. | Cloud-based productivity software helped mitigate approximately 1.5 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.54 |
| Schneider Electrics | Enable electrification and industrial digitization, thus reducing emissions. | Products helped mitigate 126 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.70 |
| Synopsys | Enabling innovative chip design that improves energy efficiency and reduces the digital divide. | USD 2,082 million spent on research and development | 2.40 |
| TE Connectivity | Connectivity solutions enable the transition and adoption of electric vehicles and enhance safety and autonomy features. | Solutions helped mitigate 334 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.10 |
| Tesla | Accelerate decarbonization by improving access to electric vehicles and renewable energy sources in place of fossil-fuel powered alternatives. | Products helped mitigate 32 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.61 |
| Trane Technologies | Improve energy efficiency in commercial and residential buildings. | Products helped mitigate 80 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.98 |
| Vertiv | Enable datacenters and telecommunications networks to reduce their carbon footprint. | Cooling solution technology helped save 25,55 cubic meters of water | 1.32 |
| Waste Connections | Enable improved waste recycling rates, while mitigating methane emissions from waste. | Recycling operations helped mitigate 21.6 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.13 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| MSA Safety | Protect workers from injuries and health-threatening incidents. Read case study |
Over 40 million workers protected by personal protection equipment | 1.42 |
| MercadoLibre | Enabling small businesses to establish and grow their business online. Providing merchants with digital payment and credit solutions that promote financial inclusion. | Supported approximately 570,000 small and medium-sized enterprises (SMEs) | 1.83 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Bank Central Asia | Supporting financial inclusion in Indonesia. | Supported 14.7 million underbanked customers and helped create 65,382 jobs approximately | 1.72 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Nu Holdings | Promote financial inclusion by providing low‑cost services to underserved or unbanked populations. Read case study |
Supported 30 million underbanked customers approximately | 1.32 |
| Asia Commercial Bank | Increasing financial inclusion in Vietnam, enabling economic growth and reduction in financial inequalities. | Loans to SMEs helped create approximately 48,000 jobs | 1.17 |
| Axis Bank | Increase financial inclusion for retail and micro, small, and medium enterprises in India. | Supported 3.9 million underbanked customers and helped create 120,000 jobs approximately | 1.12 |
| Bank Rakyat Indonesia | Supporting financial inclusion in Indonesia. | Supported 2.4 million underbanked customers and helped create 455,000 jobs approximately | 1.50 |
| Chailease Holding | Offer leasing services to SMEs often neglected by large institutions. | Supported 93,600 underbanked customers and helped create 211,000 jobs approximately | 0.74 |
| GoDaddy | Enable formation and growth in online presence of small businesses, individual entrepreneurs, and developers. | Supported approximately 20.5 million SMEs | 2.26 |
| HubSpot | Enable financial inclusion by providing affordable technology solutions to SMEs powered by energy efficient solutions. | Supported approximately 248,000 SMEs | 1.63 |
| Intuit | Promote financial inclusion using new technology to help consumers and SMEs. | Supported 18,000 jobs and 100 million SMEs approximately | 1.67 |
| Kanzhun | Promotes greater inclusivity of employment by increasing opportunities for underprivileged groups. | Supported 603,000 individuals via their disability job assistance program | 0.77 |
| Kotak Mahindra Bank | Enable financial inclusion within India by reducing the financing barriers underbanked groups face. | Supported 500,000 underbanked customers and helped create 115,000 jobs approximately | 2.06 |
| OneMain Holdings | Improve credit access to those with limited access, while also providing budgeting and financial literacy resources. | Supported 2.6 million underbanked customers approximately | 1.78 |
| Popular | Enable financial inclusion in Puerto Rico by providing banking and credit solutions in underserved communities through the bank's large physical presence. | Supported 113,000 underbanked customers approximately | 1.96 |
| Prudential | Help spread the cost of insurance protection and reduce the protection gap in underserved populations. | Approximately 17.3 million financial insurance lives covered | 1.40 |
| Shopify | Enable SMEs easy access and opportunity to create and manage online businesses enabling effective competition. | Supported the creation of 5.2 million jobs | 1.54 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Trex | Increase use of recycled plastic and wood, reducing landfill and deforestation. Read case study |
Use of recycled material helped avoid approximately 525,500 metric tons of waste | 1.48 |
| Autodesk | Facilitate building and manufacturing processes that are more efficient in energy and raw material use. | Autodesk helps 396,333 customers with their industrial research & development activities | 1.92 |
| Docusign | Improve paper-use practices and reduce waste by moving legacy processes onto digital platform. | Electronic signature software services helped mitigate 944,164 metric tons of carbon dioxide equivalent (mtCO2e) | 0.74 |
| IDEX | Supply engineered solutions to create efficiencies in manufacturing, life sciences, and health care. | USD 178.6 million spent on research and development | 2.09 |
| Keyence | Reducing manufacturing waste, improving industrial efficiency, and increasing safety in the workplace. | USD 187.2 million spent on research and development | 1.62 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Fortinet | Provide cyber protection for cloud and data center operations powered by energy‑efficient solutions. | Over 830,000 enterprises protected by Fortinet solutions | 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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| SPIE | Help customers increase energy efficiency, scale up renewable energy projects, and reduce emissions. Read case study |
Renovation of buildings helped mitigate 33,827 metric tons of carbon dioxide equivalent (mtCO2e) | 1.35 |
| ASML | Through innovation in chip manufacturing, enable energy efficiency and digital connections. | Downstream energy efficiency gains through products helped mitigate approximately 2.8 million tons of carbon dioxide equivalent (mtCO2e) | 1.67 |
| Brookfield Renewable Partners | Contribute toward the generation of zero-carbon electricity. | Renewable energy generation helped mitigate 58 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.27 |
| 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 13.2 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.48 |
| Delta Electronics | Offer wide range of products and services designed to enhance energy efficiency. | Products sold helped mitigate 15.2 million tons of carbon dioxide equivalent (mtCO2e) | 1.61 |
| First Solar | Help the shift to renewables and to reduce greenhouse gas emissions in electricity generation. | Solar PV modules helped mitigate 9.1 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.93 |
| Hubbell | Enable electricity grid resilience through modernization and electrification while also integrating renewables. | Products helped mitigate 87,037 metric tons of carbon dioxide equivalent (mtCO2e) | 1.89 |
| Infineon Technologies | Support electrification and energy efficiency. | Products helped mitigate 130.3 million tons of carbon dioxide equivalent (mtCO2e) | 1.66 |
| Ingersoll Rand | Increase energy efficiency while allowing customers to reduce their carbon footprint. | Products helped mitigate 34.2 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.57 |
| Linde | Accelerate environmental transition and a lower carbon future through innovation in green hydrogen and carbon capture, as well as decarbonizing heavy industries. | Solutions helped mitigate 96 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.88 |
| National Grid | In addition to electricity distribution, enable decarbonization of the power sector in the UK and the US by connecting additional renewables to the grid. | National Grid infrastructure helped mitigate 1.5 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.42 |
| PG&E | Enable decarbonization by increasing electrification. | PG&E infrastructure helped mitigate 679,707 metric tons of carbon dioxide equivalent (mtCO2e) | 1.74 |
| Rockwell Automation | Help customers improve productivity and reduce energy use and emissions for numerous industrial processes. | USD 477 million spent on research and development | 1.61 |
| Roper Technologies | Increase resource efficiency. | Cloud-based productivity software helped mitigate approximately 1.5 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.54 |
| Schneider Electric | Enable electrification and industrial digitization, thus reducing emissions. | Products helped mitigate 126 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.70 |
| Synopsys | Enabling innovative chip design that improves energy efficiency and reduces the digital divide. | USD 2,082 million spent on research and development | 2.40 |
| TE Connectivity | Connectivity solutions enable the transition and adoption of electric vehicles and enhance safety and autonomy features. | Solutions helped mitigate 334 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.10 |
| Tesla | Accelerate decarbonization by improving access to electric vehicles and renewable energy sources in place of fossil-fuel powered alternatives. | Products helped mitigate 32 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.61 |
| Trane Technologies | Improve energy efficiency in commercial and residential buildings. | Products helped mitigate 80 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.98 |
| Vertiv | Enable datacenters and telecommunications networks to reduce their carbon footprint. | Cooling solution technology helped save 25,55 cubic meters of water | 1.32 |
| Waste Connections | Enable improved waste recycling rates, while mitigating methane emissions from waste. | Recycling operations helped mitigate 21.6 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.13 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Deere | Promote precision and sustainable agriculture. Read case study |
Agricultural equipment sold helped mitigate approximately 10.8 million tons of carbon dioxide equivalent (mtCO2e) | 1.95 |
| Veralto | Help support cleaner and more efficient water supply at scale and enhance product quality and safety. | Veralto's treatment solutions helped save 322 million cubic meters of water | 1.04 |
| Xylem | Help customers mitigate water scarcity, optimize water systems to improve water affordability, prevent stormwater pollution. | Xylem products helped save 1 billion cubic meters of water | 1.13 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Trex | Increase use of recycled plastic and wood, reducing landfill and deforestation. Read case study |
Use of recycled material helped avoid approximately 525,500 metric tons of waste | 1.48 |
| Autodesk | Facilitate building and manufacturing processes that are more efficient in energy and raw material use. | Autodesk helps 396,333 customers with their industrial research & development activities | 1.92 |
| Docusign | Improve paper-use practices and reduce waste by moving legacy processes onto digital platform. | Electronic signature software services helped mitigate 944,164 metric tons of carbon dioxide equivalent (mtCO2e) | 0.74 |
| IDEX | Supply engineered solutions to create efficiencies in manufacturing, life sciences, and health care. | USD 178.6 million spent on research and development | 2.09 |
| Keyence | Reduce manufacturing waste, improving industrial efficiency, and increasing safety in the workplace. | USD 187.2 million spent on research and development | 1.62 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| MSA Safety | Protect workers from injuries and health-threatening incidents. Read case study |
Over 40 million workers protected by personal protection equipment | 1.42 |
| Fortinet | Provide cyber protection for cloud and data center operations powered by energy-efficient solutions. |
Over 830,000 enterprises protected by Fortinet solutions | 2.00 |
| Prudential | Help spread the cost of insurance protection and reduce the protection gap in underserved populations. | Approximately 17.3 million financial insurance lives covered | 1.40 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Intuitive Surgical | Make surgery more effective, less invasive, and easier on patients through advanced robotics. Read case study |
Surgical procedures assisted by Intuitive's da Vinci robotic systems helped extend approximately 2,440 lives | 2.02 |
| AstraZeneca | Push the boundaries of science to deliver life‑changing medicines, while increasing access to essential medicines. | Delivery of medical treatments helped extend approximately 85,408 lives | 2.06 |
| Chugai Pharmaceutical | Treat haemophilia patients with its Hemlibra product, which is the current standard of care for treating the condition. | JPY 176.7 billion spent on research and development | 1.35 |
| Danaher | Advance patient health and improve treatment outcomes through solutions that enable superior clinical decision‑making, research, and manufacturing of therapeutics. | Approximately 55.4 million patients treated by the company's devices | 2.57 |
| Eli Lilly | Increase access to truly innovative care in diabetes, Alzheimer's disease, and oncology. | Delivery of medical treatments helped treat 58 million people extend approximately 2,960 lives | 3.56 |
| Hamamatsu Photonics | Improve the detection of health care issues through better imaging as well as improving automotive safety through LiDAR technology. | JPY 13.5 billion spent on research and development | 1.26 |
| Sartorius | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 197 million spent on research and development | 0.97 |
| Sartorius Stedim Biotech | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 136 million spent on research and development | 0.67 |
| 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 | 1.61 |
| Stryker | Provide innovative solutions that improve treatment outcomes and quality of life for patients. | Approximately 150 million patients served by the company's devices | 1.97 |
| Thermo Fisher Scientific | Provide innovative solutions to help improve life for patients and therapeutic research and development outcomes. | Approximately 1.12 million patients served by the company's devices | 2.37 |
| UnitedHealth | Provide a health care safety net while improving coverage for aging populations and pursuing cost reduction initiatives. | Approximately 50.6 million health insurance lives covered | 1.80 |
| Veeva Systems | Enabling health care companies to engage in faster and more accurate clinical trials and achieve better health care outcomes. | Veeva Systems' software solutions serve roughly 1,477 customers | 0.65 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Autodesk | Facilitate building and manufacturing processes that are more efficient in energy and raw material use. | Autodesk helps 396,333 customers with their industrial research & development activities | 1.92 |
| Docusign | Improve paper-use practices and reduce waste by moving legacy processes onto digital platform. | Electronic signature software services helped mitigate 944,164 metric tons of carbon dioxide equivalent (mtCO2e) | 0.74 |
| Fortinet | Provide cyber protection for cloud and data center operations powered by energy-efficient solutions. | Over 830,000 enterprises protected by Fortinet solutions | 2.00 |
| HubSpot | Enable financial inclusion by providing affordable technology solutions to SMEs powered by energy efficient solutions. | Supported approximately 248,000 SMEs | 1.63 |
| Intuit | Promote financial inclusion using new technology to help consumers and SMEs. | Supported 18,000 jobs and 100 million SMEs approximately | 1.67 |
| Roper Technologies | Increase resource efficiency. | Cloud-based productivity software helped mitigate approximately 1.5 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.54 |
| Synopsys | Enabling innovative chip design that improves energy efficiency and reduces the digital divide. | USD 2,082 million spent on research and development | 2.40 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Nu Holdings | Promote financial inclusion by providing low‑cost services to underserved or unbanked populations. Read case study |
Supported 30 million underbanked customers approximately | 1.32 |
| Asia Commercial Bank | Increasing financial inclusion in Vietnam, enabling economic growth and reduction in financial inequalities. | Loans to SMEs helped create approximately 48,000 jobs | 1.17 |
| Axis Bank | Increase financial inclusion for retail and micro, small, and medium enterprises in India. | Supported 3.9 million underbanked customers and helped create 120,000 jobs approximately | 1.12 |
| Bank Central Asia | Supporting financial inclusion in Indonesia. | Supported 14.7 million underbanked customers and helped create 65,382 jobs approximately | 1.72 |
| Bank Rakyat Indonesia | Supporting financial inclusion in Indonesia. | Supported 2.4 million underbanked customers and helped create 455,000 jobs approximately | 1.50 |
| Kotak Mahindra Bank | Enable financial inclusion within India by reducing the financing barriers underbanked groups face. | Supported 500,000 underbanked customers and helped create 115,000 jobs approximately | 2.06 |
| Popular | Enable financial inclusion in Puerto Rico by providing banking and credit solutions in underserved communities through the bank's large physical presence. | Supported 113,000 underbanked customers approximately | 1.96 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| AstraZeneca | Push the boundaries of science to deliver life-changing medicines, while increasing access to essential medicines. | Delivery of medical treatments helped extend approximately 85,408 lives | 2.06 |
| Chugai Pharmaceutical | Treat haemophilia patients with its Hemlibra product, which is the current standard of care for treating the condition. | JPY 176.7 billion spent on research and development | 1.35 |
| Eli Lilly | Increase access to truly innovative care in diabetes, Alzheimer’s disease, and oncology. | Delivery of medical treatments helped treat 58 million people extend approximately 2,960 lives | 3.56 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Danaher | Advance patient health and improve treatment outcomes through solutions that enable superior clinical decision‑making, research, and manufacturing of therapeutics. | Approximately 55.4 million patients treated by the company's devices | 2.57 |
| Sartorius | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 197 million spent on research and development | 0.97 |
| Sartorius Stedim Biotech | Improve patient outcomes by providing products that help make the therapeutic manufacturing process cheaper and more efficient. | EUR 136 million spent on research and development | 0.67 |
| Thermo Fisher Scientific | Provide innovative solutions to help improve life for patients and therapeutic research and development outcomes. | Approximately 1.12 million patients served by the company's devices | 2.37 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| ASML | Through innovation in chip manufacturing, enable energy efficiency and digital connections. | Downstream energy efficiency gains through products helped mitigate approximately 2.8 million tons of carbon dioxide equivalent (mtCO2e) | 1.67 |
| First Solar | Help the shift to renewables and to reduce greenhouse gas emissions in electricity generation. | Solar PV modules helped mitigate 9.1 million metric tons of carbon dioxide equivalent (mtCO2e) | 0.93 |
| Infineon Technologies | Support electrification and energy efficiency. | Products helped mitigate 130.3 million tons of carbon dioxide equivalent (mtCO2e) | 1.66 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Intuitive Surgical | Make surgery more effective, less invasive, and easier on patients and surgeons through advanced robotics. Read case study |
Surgical procedures assisted by Intuitive's da Vinci robotic systems helped helped extend approximately 2,440 lives | 2.02 |
| 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 | 1.61 |
| Stryker | Provide innovative solutions that improve treatment outcomes and quality of life for patients. | Approximately 150 million patients served by the company's devices | 1.97 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| MSA Safety | Protect workers from injuries and health-threatening incidents. Read case study |
Over 40 million workers protected by personal protection equipment | 1.42 |
| SPIE | Help customers increase energy efficiency, scale up renewable energy projects, and reduce emissions. Read case study |
Renovation of buildings helped mitigate 33,827 metric tons of carbon dioxide equivalent (mtCO2e) | 1.35 |
| Veralto | Help support cleaner and more efficient water supply at scale and enhance product quality and safety. |
Veralto's treatment solutions helped save 322 million cubic meters of water | 1.04 |
| Waste Connections | Enable improved waste recycling rates while mitigating methane emissions from waste. | Recycling operations helped mitigate 21.6 million metric tons of carbon dioxide equivalent (mtCO2e) | 2.13 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Delta Electronics | Offer wide range of products and services designed to enhance energy efficiency. | Products sold helped mitigate 15.2 million tons of carbon dioxide equivalent (mtCO2e) | 1.61 |
| Hamamatsu Photonics | Improve the detection of health care issues through better imaging as well as improving automotive safety through LiDAR technology. | JPY 13.5 billion spent on research and development | 1.26 |
| Keyence | Reducing manufacturing waste, improving industrial efficiency, and increasing safety in the workplace. | USD 187.2 million spent on research and development | 1.62 |
| TE Connectivity | Enable the transition and adoption of EVs and enhance safety and autonomy features through connectivity solutions. | Solutions helped mitigate 334 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.10 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
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 Portfolio |
|---|---|---|---|
| Deere | Promote precision and sustainable agriculture. Read case study |
Agricultural equipment sold helped mitigate approximately 10.8 million tons of carbon dioxide equivalent (mtCO2e) | 1.95 |
| IDEX | Supply engineered solutions to create efficiencies in manufacturing, life sciences, and health care. | USD 178.6 million spent on research and development | 2.09 |
| Ingersoll Rand | Increase energy efficiency while allowing customers to reduce their carbon footprint. | Products helped mitigate 34.2 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.57 |
| Xylem | Help customers mitigate water scarcity, optimize water systems to improve water affordability, prevent stormwater pollution. | Xylem products helped save 1 billion cubic meters of water | 1.13 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
Top 10 Industries:
Electrical Equipment
Below are the companies associated with this industry and the impact they aim to create.
| Company | Impact Goal | KPI | % of Portfolio |
|---|---|---|---|
| Hubbell | Enable electricity grid resilience through modernization and electrification, while also integrating renewables. | Products helped mitigate 87,037 metric tons of carbon dioxide equivalent (mtCO2e) | 1.89 |
| Rockwell Automation | Help customers improve productivity and reduce energy use and emissions for numerous industrial processes. | USD 477 million spent on research and development | 1.61 |
| Schneider Electric | Enable electrification and industrial digitization, thus reducing emissions. | Products helped mitigate 126 million metric tons of carbon dioxide equivalent (mtCO2e) | 1.70 |
| Vertiv | Enable datacenters and telecommunications networks to reduce their carbon footprint. | Cooling solution technology helped save 25,55 cubic meters of water | 1.32 |
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.
Impact outcomes
The companies in which the Global Impact Equity Strategy 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 representative portfolio.
980.4 million
metric tons of CO2e2 avoided at the company level
198
metric tons of CO2e avoided per USD 1 million invested
ASML, Brookfield Renewable Partners, Canadian National Railway, Deere, Delta Electronics, Docusign, First Solar, Hubbell, Infineon Technologies, Ingersoll Rand, Linde, National Grid, PG&E, Roper Technologies, Schneider Electric, SPIE, TE Connectivity, Tesla, Trane Technologies, Waste Connections, Xylem
1.3 billion
cubic meters of water saved at the company level
494
cubic meters of water saved per USD 1 million invested
Veralto, Vertiv, Xylem, Docusign
3.3 million
metric tons of waste avoided at the company level
2
metric tons of waste avoided per USD 1 million invested
Trex, Waste Connections, Docusign
406.3 million
patients treated at the company level
46
patients treated per USD 1 million invested
Intuitive Surgical, Sonova, Stryker, Danaher, Thermo Fisher Scientific, AstraZeneca, Chugai Pharmaceutical, Eli Lilly
54.7 million
underbanked people served3 at the company level
12
underbanked people served per USD 1 million invested
Axis Bank, Bank Central Asia, Bank Rakyat Indonesia, Kotak Mahindra Bank, Nu Holdings, Popular, OneMain, Chailease
3.65 billion
people provided with access to safe drinking water and sanitation at the company level
1303
people provided with access to safe drinking water and sanitation per USD 1 million invested
Linde, Veralto
Read the full annual report
Our 30+ page report contains:
Portfolio alignment and changes (pg. 6)
Impact outcomes and case studies (pg. 8)
Active ownership (pg. 15)
Thematic insights
Jul 2025
From the Field
What’s the outlook for the global energy transition?
Feb 2025
From the Field
Spotlight on plastic pollution in impact investing
The Global Impact Equity Strategy
Since the launch of the strategy 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, T. Rowe Price estimates, and Net Purpose estimates.
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.
The representative portfolio is an account we believe most closely reflects current portfolio management style for the strategy. Performance is not a consideration in the selection of the representative portfolio. The characteristics of the representative portfolio shown may differ from those of other accounts in the strategy. Information regarding the representative portfolio and the other accounts in the strategy is available upon request.
202511-5030652
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
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 representative portfolio as of December 31, 2024. Subject to change without notice. The securities shown represent 100% of the publicly traded securities held in the portfolio.
No securities were assigned to the Sustainable Innovation and Productivity pillar at the end of the period.