Better Health for All

T. Rowe Price's sustainability initiatives generate positive health externalities. The firm partnered with the International Finance Corporation on blue projects to support ocean health, indirectly boosting public health through clean water and sanitation

. Additionally, its commitment to achieving net zero greenhouse emissions by 2040 contributes to better health outcomes by promoting cleaner environments . As an investment management firm, its core products and services do not have direct health impacts, nor does it engage in health-related R&D, clinical trials, or offer health products requiring accessibility or safety considerations.

Fair Money & Economic Opportunity

T. Rowe Price committed $50 million through a partnership with CNote to under-resourced financial institutions, facilitating loans where 65% went to minority borrowers and 68% to low- to moderate-income communities

. The firm spent $50 million in 2023 on economic inclusion initiatives for underrepresented suppliers . A $2 million grant was announced to organizations combating racial injustice , with $775,000 allocated to financial coaching and services and $825,000 to entrepreneur support programs . A collaboration with the IFC was recognized for enhancing access to blue finance projects in emerging markets . T. Rowe Price reached over 15.5 million individuals through financial education programs, including collaborations with institutions such as Morgan State University . As an investment management firm, T. Rowe Price does not offer consumer credit or debt products, nor does it operate financial service access points, making several KPIs not applicable.

Fair Pay & Worker Respect

The company settled a lawsuit for $7 million in July 2022, alleging it cost over 18,000 retirement plan participants $123 million by investing in more expensive in-house funds.

Voluntary employee turnover was 9% in both 2024 and 2023. The CEO's total compensation in 2023 was 82 times that of the median associate. Employee survey results indicate 79% of associates feel supported by their managers, 75% would recommend the company as a great place to work, and 71% feel it has a great culture. T. Rowe Price offers a comprehensive benefits package including health benefits for domestic partners, retirement benefits, stock purchase plans, gym reimbursement, life insurance, an Employee Assistance Program, and fully paid maternity and parental leave. , The company also implements diversity, equity, and inclusion initiatives, with two-thirds of new U.S. hires being diverse, and has received certifications and recognitions for its racial equity and inclusive workplace efforts, including MLT Black Equity at Work Silver Certification and being named to Constellation's 2024 DEI Honor Roll. , ,

Honest & Fair Business

T. Rowe Price agreed to a $7 million settlement in a fiduciary breach claim under ERISA, which was announced in July 2021

and required court approval in January 2022. The company received the highest rating of A+ across all seven categories for its 2020 PRI Assessment Report. , marking the third consecutive year it has been above median in every category. Furthermore, T. Rowe Price has established a Global Whistleblower Policy, enabling employees to report unethical activities without fear of retaliation.

Kind to Animals

T. Rowe Price Group Inc. is an investment management firm, and its core business does not involve manufacturing products, animal testing, animal agriculture, or direct sourcing of animal products. Therefore, KPIs related to cruelty-free certification, alternative testing usage, humane certified operations, ethical input substitution, supplier audits for animal welfare, cage-free sourcing, animal testing policy and volume, innovation investment in animal-free technologies, and animal-free R&D collaboration are not applicable to its direct operations. While the company engages with issuers on biodiversity, land use, and agricultural practices

, and has partnered on a blue bond venture and maintained oyster gardens , the provided articles do not offer specific, measurable data on the biodiversity impact of its own conservation initiatives, its direct animal agriculture practices, or its direct public policy advocacy for animal welfare, leading to the omission of those KPIs.

No War, No Weapons

T. Rowe Price, an investment management firm, does not derive direct revenue from arms or defense contracts. However, some of its funds hold minor positions in defense contractors, reflecting limited defense sector exposure.

While the Global Impact Equity Fund, launched in 2021, explicitly excludes armaments, this policy is specific to that fund and does not apply company-wide.

Planet-Friendly Business

T. Rowe Price's total Scope 1, 2, and 3 emissions, including financed emissions, were 430.98 million tCO2e in 2024

, with no binding Scope 3 target or SBTi validation for these significant emissions . The company's approach to carbon reduction is informed by SBTi methodology , but it has not pursued validation for its targets, citing fiduciary duty . It aims for net-zero Scope 1 and 2 operational emissions by 2040 , with an interim target of a 75% reduction by 2030 from a 2021 baseline . In 2024, 57% of its real estate square footage was environmentally certified , with a target to reach 60% by 2025 . The company's new Baltimore headquarters achieved LEED Platinum certification . The company achieved an 86.1% waste diversion rate in 2024 and reports zero environmental compliance violations . The firm publishes annual TCFD reports , integrating climate factors into its investment processes and conducting comprehensive climate scenario analysis using NGFS scenarios (1.5°C, 2°C, and NDC) to assess climate value at risk for investment portfolios over a 15-year horizon . Carbon offsets, including biochar credits and Climate Vault partnerships, cover approximately 10% of operational emissions . Biodiversity efforts are limited to minimal pilot projects such as oyster and corporate produce gardens . Disclosure on climate-related stranded asset risks is minimal, with only general statements about scenario analysis touching on asset valuations .

Respect for Cultures & Communities

T. Rowe Price has established over 20 formal partnerships with various community groups and organizations, including Management Leadership for Tomorrow, CNote, and the Maryland Institute College of Art.

The company provides multiple formal grievance mechanisms, including an anonymous whistleblower hotline and a confidential website, available across all operations for reporting concerns. No cultural appropriation incidents are reported. Free, Prior, and Informed Consent (FPIC) processes are not applicable to the company's operations, and no specific cultural impact assessment protocol is mentioned, consistent with its business model. The company allocated $350,000 of its $6.2 million total direct grant giving in 2024 to cultural preservation, representing 5.645% of direct grants. Additionally, 7.3% of the company's total spend directly impacts the local small business community. The T. Rowe Price Foundation collaborated to establish an indigenous history area at Point Park with educational placards, and no incidents disrupting cultural or heritage sites are reported.

Safe & Smart Tech

T. Rowe Price requires multifactor authentication for all participants and uses voice biometrics to passively authenticate callers.

The company has implemented governance structures for ethical AI use, including a Steering Committee, an AI Center of Excellence, and a global privacy, data protection, and AI legal team. , Regular audits of AI models are conducted to mitigate biases. Annually, T. Rowe Price undergoes external SOC 1 and SOC 2 examinations for key operational business units. Employee security awareness is supported by annual training and regular phishing tests. For the year ended December 31, 2024, no cybersecurity incident resulted in an interruption of operations, known losses of critical data, or a material impact on the firm.

Zero Waste & Sustainable Products

T. Rowe Price has set company-wide waste reduction targets, aiming to reduce waste sent to landfills by 92% by 2025 from a 2010 baseline.

The company also plans to phase out single-use plastics by 2025.