Lord, Abbett & Co. LLC Sustainability Profile
Lord, Abbett & Co. LLC, commonly referred to as Lord Abbett, is a prominent investment management firm headquartered in the United States. Established in 1929, the company has built a strong reputation in the financial services industry, focusing on a diverse range of investment strategies, including equity, fixed income, and multi-asset solutions. With a commitment to delivering innovative investment products, Lord Abbett distinguishes itself through its rigorous research and client-centric approach. The firm serves a wide array of clients, including institutions, financial advisors, and individual investors, and has achieved notable recognition for its performance and service excellence. As a trusted partner in the investment landscape, Lord Abbett continues to adapt and thrive in an ever-evolving market.
DitchCarbon Score
How does Lord, Abbett & Co. LLC's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Lord, Abbett & Co. LLC's score of 28 is lower than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Lord, Abbett & Co. LLC's reported carbon emissions
In 2023, Lord, Abbett & Co. LLC reported total carbon emissions of approximately 10,567,000 kg CO2e. This figure includes Scope 2 emissions from purchased electricity, which accounted for about 1,371,000 kg CO2e, and significant Scope 3 emissions, including business travel (approximately 1,455,000 kg CO2e), employee commute (about 893,000 kg CO2e), and purchased goods and services (approximately 5,853,000 kg CO2e). Comparatively, in 2022, the firm recorded total emissions of about 9,411,000 kg CO2e, with similar contributions from Scope 2 and Scope 3 emissions. The increase in emissions from 2022 to 2023 highlights the ongoing challenges in managing carbon footprints, particularly in Scope 3 categories, which often represent the largest share of total emissions for many organisations. Despite the absence of specific reduction targets or initiatives, Lord, Abbett & Co. LLC is actively disclosing its emissions data, which is crucial for transparency and accountability in climate commitments. The firm has not cascaded any emissions data from a parent organisation, indicating that its reported figures are independently sourced. Overall, while the company has not set formal reduction targets, its commitment to disclosing emissions data reflects an awareness of the importance of addressing climate change within the financial services sector.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | - | - |
| Scope 2 | 1,341,000 | 0,000,000 |
| Scope 3 | 7,044,000 | 0,000,000 |
How Carbon Intensive is Lord, Abbett & Co. LLC's Industry?
How Carbon Intensive is Lord, Abbett & Co. LLC's Location?
Lord, Abbett & Co. LLC's Scope 3 Categories Breakdown
Lord, Abbett & Co. LLC's Scope 3 emissions, which increased by 18% last year and increased by approximately 18% since 2022, demonstrating supply chain emissions tracking. Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories, with "Purchased Goods and Services" being the largest emissions source at 70% of Scope 3 emissions.
Top Scope 3 Categories
Lord, Abbett & Co. LLC's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Lord, Abbett & Co. LLC has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
