Teachers Insurance And Annuity Association Sustainability Profile

In 2024, Teachers Insurance and Annuity Association (TIAA), headquartered in the US, reported total emissions of approximately 13,820 kg CO2e, comprising 6,820 kg CO2e from Scope 1 and 7,000 kg CO2e from Scope 2. This data reflects a commitment to transparency in emissions reporting, although no Scope 3 emissions data was disclosed for this year. For the previous year, 2023, TIAA's global emissions totalled about 72,353,000 kg CO2e, with Scope 1 emissions at approximately 3,639,000 kg CO2e, Scope 2 at about 28,791,000 kg CO2e, and Scope 3 emissions reaching approximately 39,232,000 kg CO2e. This indicates a significant operational footprint, particularly in Scope 3 emissions, which often represent the largest share of a company's total emissions. TIAA has set ambitious climate commitments, aiming for net-zero operational emissions by 2040 for both Scope 1 and Scope 2 emissions. Additionally, the organisation has pledged to achieve net-zero emissions across all scopes by 2050. In the near term, TIAA targets a 30% reduction in the intensity of landlord-controlled energy use by 2025 and a 46% absolute reduction in gross emissions by 2030, compared to 2019 levels. By 2040, TIAA aims for an 89% absolute reduction in gross emissions, with a commitment to 100% renewable electricity. It is important to note that TIAA's emissions data and climate targets are cascaded from its parent organisation, Teachers Insurance and Annuity Association of America, ensuring alignment with broader corporate sustainability goals.