Social Impact 2022
Environmental, Social and Governance Report
SOCIAL IMPACT 2022 Environmental, Social and Governance Report About this summary This summary and linked datasheet contain statistics and updates on how Thomson Reuters is progressing on key Environmental, Social and Governance (ESG) activities and advancing justice, truth, and transparency. To learn more, visit thomsonreuters.com or contact us at [email protected]. We look forward to hearing from you. REUTERS/Go Nakamura
TABLE OF CONTENTS 3 CEO message 4 2022 at a glance 5 Trust Principles 6 Environmental, social and governance 9 Justice, truth, and transparency 15 Sustainable future 18 Diversity and inclusion 23 Community impact 28 Thomson Reuters Foundation 30 Datasheet 33 Appendix REUTERS/Carlos Osorio
® At Thomson Reuters , we recognize our governance structure is a critical We reaf昀椀rm our commitment of the Ten Principles of the United part of our ability to prioritize diversity, equity, inclusion, human rights, Nations Global Compact (UNGC) in the areas of Human Rights, Labor, and environmental responsibility as core growth mandates. Our Board Environment, and Anti-Corruption and we aligned with the UN Guiding of Directors and Corporate Governance Committee work closely with Principles on Business and Human Rights, which augments our our management to continuously evaluate our progress against our longstanding commitment to the UNGC, the UN Declaration on ESG strategy, assess ESG risks, and set the standard for responsible Human Rights, as well as other international standards. Informing the way business practice. We completed a comprehensive ESG materiality assessment of our global Our commitment to trust is at the center of everything we do, as operations, focused on identifying and prioritizing ESG topics and issues forward to a more underpinned by the Thomson Reuters Trust Principles. Our Trust most signi昀椀cant to our business and stakeholders. As part of this effort, we Principles are fundamental to our entire business and include the also completed a company-wide Human Rights Impact Assessment (HRIA) understanding, preservation of integrity, reliability of news, development of the news of our global operations, products, and services. In doing so, we sought to business, and related principles. Collectively, we act with integrity and proactively manage actual and potential human rights impacts in order to independence, holding ourselves and one another accountable. Our mitigate risks to both Thomson Reuters and to rightsholders. Moreover, we trusting world for all code of Business Conduct and Ethics allow us to measure our actions published our 昀椀rst human rights policy which seeks to inform our colleagues, against our Purpose. The Code encourages honesty and transparency, our customers, our shareholders, and those in the communities where we providing a safe space for asking questions and reporting challenges in operate and do business of our commitment and approach to human rights. our organization. In addition, we completed a Taskforce for Climate-Related Financial Our corporate culture is de昀椀ned by our people and Purpose. We are Disclosure (TCFD) report. The recommended disclosures are intended powered by the talents of over 25,000 employees across 70 countries, to highlight a company’s climate governance practices, strategy, and where everyone has a chance to contribute and grow professionally risk management, and evaluate the latest climate scenarios to identify in 昀氀exible work environments that celebrate diversity and inclusion. exposure to climate-related risks and opportunities. Steve Hasker Underpinned by the Flex My Way program, we are committed to The pages and stories that follow bring to life how our people, products, President and Chief Executive Of昀椀cer increasing knowledge, acting with courage and integrity in pursuit of Thomson Reuters and partnerships contribute to a better world for all. You’ll learn about justice, truth, and transparency. Our Mindsets and Behaviors program how our data and analytics have intercepted human traf昀椀cking efforts of builds on the strengths of our culture today as well as on the best of what Ukrainian women and children. You’ll be inspired by the 2022 Carla Jones we are becoming. Social Impact Award winner, Agnieszka Podgorska, who led colleagues to Amidst these challenging times, a free press is more crucial than ever — help refugees 昀氀eeing Ukraine. Our pro bono work in support of nonpro昀椀ts exposing truth, driving change, and paving the way for a fairer world. Our through IMPACTathon has now grown into a global event. And though Reuters photographers, including the late Danish Siddiqui who died while signi昀椀cant work remains, our senior leadership team representation is covering the war in Afghanistan, won the 2022 Pulitzer Prize in feature changing to include more racially and ethnically diverse talent. photography for their coverage of COVID-19’s impact in India, effectively We are committed to upholding high standards of governance and alerting the world to the pandemic’s toll. A team of Reuters reporters responsibility to inform the way forward. Thanks to our colleagues, was also honored with a George Polk Award, one of the top honors in customers, and partners for making this possible. Your support enables US journalism, for their reporting on the use of child labor in automobile us to work towards a more trusting, transparent, informed, and supply chains. prosperous future as the world evolves. 3
2022 AT A GLANCE 100% score Human Rights Campaign’s Corporate Equality Index 100% score Disability: IN Disability Equality Index 2022, Best Place to Work for Disability Inclusion Over 68,000 volunteer hours logged by employees 100% renewable energy for all global operations1 $18M globally facilitated by Thomson Reuters Foundation’s pro bono legal service TrustLaw in free legal assistance for OUR VALUES NGOs and social enterprises2 Trust Innovation Partnership Performance For a full list of awards, please visit Thomson Reuters Awards and Recognitions. We act with integrity and We innovate to serve our We work together — with each We deliver results, excelling 1 Sourced largely through the use of Renewable Energy Credits. independence by holding customers, drive growth, other, with our customers, and at work that positively impacts ourselves and each other to be and win in dynamic with industry partners — to deliver the world. 2 Pro bono valuation estimated using fees and hours ethical and reliable in all we do. business environments. superior results and experiences. data collected by the Thomson Reuters Foundation from pro bono legal teams. 4 REUTERS/Athit Perawongmetha
TRUST PRINCIPLES That Reuters shall at no That the integrity, That Reuters shall supply unbiased and That Thomson Reuters shall That no effort shall be spared to time pass into the hands independence, and freedom reliable news services to newspapers, pay due regard to the many expand, develop, and adapt the news of any one interest, from bias of Thomson Reuters news agencies, broadcasters, and other interests which it serves in and other services and products of group, or faction shall at all times be fully media subscribers and to businesses, addition to those of the media Thomson Reuters, so as to maintain preserved governments, institutions, individuals, its leading position in the international and others with whom Reuters has or news and information business may have contracts 5 REUTERS/Dylan Martinez
ENVIRONMENTAL Our purpose – SOCIAL GOVERNANCE To Inform the Way Forward anchors our environmental, social and governance (ESG) strategy As businesses around the globe scrutinize the impacts their collective actions have on the world around them, the acronym ESG has become a household term. While the bulk of the attention around ESG has focused on its Environmental and Social components, it’s the “G” that gets things done. Governance is the critical component of the ESG equation that enables businesses to prioritize diversity, equity, inclusion, and environmental responsibility as core growth mandates and commit to best practices to improve that performance over time. At Thomson Reuters, that governance structure is overseen by our Board of Directors and Corporate Governance Committee who believe that sound corporate governance practices are essential to the wellbeing of our company, our shareholders, our customers, and the communities where we operate and do business. This team, working closely with our company management, is continuously evaluating our progress on ESG strategy, assessing ESG risks and helping us set the standard for responsible business. For more information about our Corporate Governance and ESG initiatives, please see our Proxy Circular. 6 REUTERS/Brian Snyder
ENVIRONMENTAL SOCIAL GOVERNANCE Our Trust Center Our commitment to trust extends far beyond the based approach prescribed by the International OVER accuracy of our information and the integrity of our Organization of Standards and the National 25,000 people; it also includes the security and privacy of Institute of Standards and Technology Cybersecurity EMPLOYEES our data and that of our customers. To meet our Framework. ACROSS customers’ high expectations for data protection, To help demonstrate our focus on data security 70 we launched the Thomson Reuters Trust Center to and ensuring a best in class modernized security COUNTRIES provide critical information about how we safeguard organization, we hosted our annual SecureFest this data. We have a dedicated, global Privacy Of昀椀ce past October during Security Awareness Month. that is responsible for implementing, promoting, The event focused on Cybersecurity in the New and overseeing our privacy program in alignment World of Work, which featured a series of sessions Our values Our culture with the Privacy Management Framework and sharing guidance and practical tools for working national and local privacy and data protection laws At Thomson Reuters, we have one core value that One of the many lessons learned by businesses of around the globe. securely in remote and in-of昀椀ce settings and sits atop everything we do: Trust. We act with every type over the last few years of mass disruption ensuring the highest level of data protection was integrity and independence by holding ourselves is that corporate culture is not de昀椀ned by sleek of昀椀ce Protection and security is a cornerstone of our Trust achieved in these new ways of working. and each other accountable, and to high ethical buildings, water cooler conversations, or big town culture. We have a highly skilled and dedicated With the ever-changing threat landscape, our standards. We endeavor to live up to these hall meetings. It is a unique combination of people global team of security specialists and subject information security practices must also adapt. We standards in every aspect of our business. and purpose that de昀椀nes a business, whether those matter experts committed to the data security continue to enhance our offerings and participate in people are working across the hall, across an ocean, of Thomson Reuters products and services. Our industry and government forums and groups to stay To ensure that trust is central to our business, we or from a remote outpost that once would have been Information Security Risk Management program at the absolute top of our game. maintain and regularly update a Code of Business considered off-the-grid. is anchored on the industry recognized risk- Conduct and Ethics (the Code) which allows us to evaluate the actions of our company and our people At Thomson Reuters, we are powered by the talents against this higher purpose and address anything of over 25,000 employees across more than 70 that is not in line with the Code. The Code explains countries, where everyone has a chance to contribute who Thomson Reuters is and what we stand for, and grow professionally in 昀氀exible work environments and it reinforces what our partners, colleagues, that celebrate diversity and inclusion. Driven by a and customers have always known: Trust matters. higher purpose to inform the way forward, we are Among others, the Code sets out expectations and committed to increasing knowledge, acting with guidance related to anti-bribery, anti-corruption, courage and integrity, and pursuing justice, truth, and anti-trust, data protection, con昀氀icts of interest, transparency. Together, our amazing people working environmental responsibility, and employment toward a higher objective are a truly unstoppable practices. It also encourages honesty and force that has persevered through one of the most transparency while providing a safe space challenging periods in history to keep growing and for sharing, asking questions, and reporting improving. To reinforce that positive momentum, concerns or violations. All employees are required we’ve introduced a Mindsets and Behaviors program to certify annually that they have read and that builds on the strengths of our culture today understand this policy. and the best of what we are becoming to guide our thinking and behavior well into the future. REUTERS/Ognen Teo昀椀lovski 77
Alignment to external frameworks We continuously look inward to examine our role as At the heart of the UNGC are 17 Sustainable a company in supporting our employees, partners, Development Goals, meant to guide business shareholders, and clients. We also focus on the practices that focus on improving health and actions of our peers and the larger world around us education, reducing inequality, and spurring to ensure that we adhere to the highest standards economic growth while tackling climate change and of responsibility and sustainability. As proud working to preserve our oceans and forests. This signatories to the United Nations Global Compact year, leveraging our role as a hub of information on since 2018, we are committed to its Ten Principles legal, regulatory, government, and business affairs, of corporate sustainability focused on integrating we co-hosted a working group with the UN focused responsible business practices on human rights, on Sustainable Development Goal 16: Peace, labor, environment, and anti-corruption in our Justice, and Strong Institutions. The event convened global operations. 50 business leaders for a probing discussion on concrete steps members of the public and private sectors can take to lead change. REUTERS/Brendan McDermid As previously mentioned, we also completed a A summary of our ESG Materiality Assessment comprehensive ESG materiality assessment of and matrix is provided as an appendix at the end our global operations, which included a company- of this report. Additionally, as a key governance wide human rights impact assessment. The requirement from our alignment to the UNGPs, recommendations from this comprehensive we also published our Human Rights Policy which ESG assessment will continue to help us identify, underscores our commitment to human rights as assess, and proactively respond to risks across well as our approach to managing human rights our enterprise. impacts. A link to our policy can be found in the extended datasheet at the end of this report. 8 8
In partnership with our customers and other global organizations Our role at Thomson Reuters is to serve our customers, pursuing justice, truth, and transparency. Together with the professionals and institutions we serve, we help uphold the rule of law, turn the wheels of commerce, catch bad actors, report the facts, and provide trusted, unbiased information to people all over the world. JUSTICE TRUTH Through our people, products, and partnerships, we made signi昀椀cant strides TRANSPARENCY in 2022 in tackling crucial global issues. 9
JUSTICE TRUTH TRANSPARENCY Using technology to combat human traf昀椀cking Over 12 million Ukrainians have 昀氀ed their homes online sexual services was playing a role in fueling since Russia’s February 2022 invasion of the this risk. Online demand for sex with Ukrainian country, according to UN data. With an estimated women and girls spiked by 120% to 600% in 昀椀ve million 昀氀eeing to neighboring countries and European countries as the war in Ukraine entered the another seven million believed to be displaced inside Western news cycle. Ukraine, the war has created the ideal conditions Armed with this information, we were able to form a for human traf昀椀cking. For decades, organized crime public-private partnership with OSCE to launch the syndicates have leveraged geopolitical con昀氀icts to Be Safe campaign, a joint campaign to get critical prey on vulnerable populations, using sophisticated, safety advice to Ukrainians to help them spot the transnational networks to perpetuate acts of sexual Commemorating 150 years of West Publishing exploitation and forced labor. signs of traf昀椀ckers and how to get help. It included the launch of a new ‘Be Safe’ advisory website in Thomson Reuters celebrated an important mile- More importantly, though, West’s forethought to Thomson Reuters has committed to using our English, Ukrainian, and Russian and a social media stone in 2022, not only for our business, but also develop the underlying legal taxonomy — the ability data, analytics, and subject matter expertise to campaign. The campaign was also showcased at for the very foundation of the legal system as we’ve to code, catalog, and search judicial decisions help intergovernmental organizations and law key international forums such as the United Nations, come to know it today. It was 150 years earlier, in immediately after they were made — would create enforcement agencies stop these abuses. In helping to mobilize support from policymakers, law 1872, that a St. Paul, Minnesota-based book and a legacy that is still supporting access to justice response to the war in Ukraine, we partnered with enforcement, and NGOs around the world. of昀椀ce supply salesman named John B. West opened and continued innovation 150 years later. Today, the Organization for Security and Co-operation in We are proud to work with organizations such as the the doors of his eponymous publishing and book everything from basic legal research to AI-powered Europe (OSCE) to research the demand for Ukrainian sales operation. John B. West Publisher and Book contract review and litigation analytics are made women and girls for sexual exploitation and provide OSCE to support the 昀椀ght against human traf昀椀cking. Seller would become the 昀椀rst business of its kind in possible by the annotation process West pioneered. a data snapshot to arm policymakers and diplomats. Our partnership re昀氀ects the power of public-private the region specializing in gathering, publishing, and Using our investigative tools, our analysis of internet partnerships and demonstrates Thomson Reuters’ annotating legal texts, and it would eventually create purpose by informing the way forward using our patterns found clear signals that human traf昀椀ckers teams, technology, and our people to deter and the standard taxonomy used to catalog caselaw. were preying on Ukrainians, and that the demand for prevent human traf昀椀cking. It was West’s problem-solving spirit that would give the rapidly expanding western United States its 昀椀rst taste of equal justice. At the time, the US legal system was a collage of laws and caselaw. Then, just as now, access to justice under the law was predicated on a clear understanding of how courts have treated citizens in criminal and civil matters, and that required fair access and consistent interpretation of the nation’s laws. In 1872, Minnesota had only been a state for 14 years, and published Watch this video to hear from our Westlaw Attorney court decisions took months or years to 昀椀nd their way Editors about how these editorial enhancements from courts in the east to the state’s law of昀椀ces and courtrooms. West’s focus on fast, equitable access to help conduct more accurate and ef昀椀cient legal the latest legal opinions helped to close that gap. research. 10
JUSTICE TRUTH TRANSPARENCY Our IMPACT Celebrating our 昀椀rst global IMPACTathon In 2021, we launched a pilot program designed One of the IMPACTathon participants, Sara Jones, Our nonpro昀椀t partners brought forward strategic 560+ to combine our longstanding commitment to Executive Director of the Great North Innocence capacity-building challenges to the IMPACTathon pro bono legal work with our roots in technology- Project, described the initiative as excellent. Jones and were each matched with a team of pro bono hours volunteered driven innovation. It was called the IMPACTathon, and her team work to free the wrongfully convicted consultants who possessed the functional-area a small hackathon-style event that brought and prevent future wrongful convictions from expertise needed to address them. Each team together teams of Thomson Reuters employees occurring in Minnesota, North Dakota, and South created customized, implementable, and sustainable $ , solutions for their nonpro昀椀t partner by the end of the 110 000+ to support nonpro昀椀t organizations by hacking Dakota. “The [IMPACTathon] environment, even away at their challenges and producing tangible virtually, felt collaborative, intentional, and open. day. In total, our pro bono consultants provided: worth in pro bono consulting deliverables in just 昀椀ve hours. In 2022, after the From both words and actions, it was clear that unexpectedly huge success of the pilot program, we the consultants we worked with were committed went global with the IMPACTathon, and the results to contributing to our mission in a way that was were even more impressive. substantive, meaningful to us, and useful in the More than 70 Thomson Reuters employees served short and long term,” she exclaimed. The Great as pro bono consultants, offering expertise in North Innocence Project has received pro bono 98% of pro bono consultants and nonpro昀椀t technology, operations, strategy, communications, support from Thomson Reuters employees the participants would recommend IMPACTathon past three years, with each deliverable building off marketing, sales, and human resources, to nonpro昀椀t organizations across the US, Canada, India, and the the last, to help the organization more effectively % of nonpro昀椀ts state their project deliverables achieve its goals. 79 will strengthen their infrastructure Philippines. All told, Thomson Reuters employees 3 committed the equivalent of over $110,000 in consulting hours to the initiative, helping the % of pro bono consultants were able to develop organizations develop necessary capacity-building 71 in new ways as a result of their project tools to enhance their own abilities in areas not typically supported by foundation grants and individual donors. One of the pro bono consultants, Claire Richardson, Enterprise Community Manager at Thomson Reuters, shared how the experience shaped her view of pro bono volunteering. “Before The STATS Project variety by function signing up for the IMPACTathon, I didn’t realize how Nonpro昀椀t challenges spanned numerous Operations Marketing my professional skills and expertise could make functional areas bringing Thomson PR Hear how one team used their professional skills to Reuters colleagues — from new employees a difference to a nonpro昀椀t organization. It was a rewarding experience to help the organization help Wellspring Living tackle their challenge. to tenured senior leaders — around the Sales develop an action plan to better communicate their globe together. Projects ranged from Strategy key initiatives to the public.” highly tactical to big-picture strategy, but each nonpro昀椀t left with a deliverable and Communications HR an action plan for implementation. Technology 3 Pro bono valuation is calculated by using the average hourly value for pro bono service ($195 per hour), Program Measurement as referenced by the Taproot Foundation. 11
JUSTICE TRUTH TRANSPARENCY Thomson Reuters Institute launches ESG Resource Center A perfect storm of environmental crises, social evidence that aligns with global ESG reporting justice issues, and economic uncertainty has requirements. Many are still in the dark when it provoked a global awakening to the importance comes to understanding the nuances, which is of corporate responsibility and sustainability. why the Thomson Reuters Institute developed Accordingly, global regulators have been racing a comprehensive ESG Resource Center offering to launch new ESG requirements, and the largest insight into the most pressing current and future corporations, investors, and government leaders issues concerning ESG. Whether for foundational have all publicly backed sweeping sustainability knowledge, strategy planning resources, or initiatives. identifying new business opportunities, the ESG But it will take more than good intentions to Resource Center serves as a critical hub for all navigate this brave new world. Regulators in many stakeholders managing this complex transition. jurisdictions are requiring organizations, including With nearly 85,000 page views and counting, we know this resource will continue to provide vital ESG law 昀椀rms and tax and accounting 昀椀rms who serve At the Super Bowl and beyond: Tackling human traf昀椀cking every day information on various ESG related topics. large public and private companies, to provide hard Human traf昀椀cking has become one of the fastest- enforcement agencies, the NFL Super Bowl Host growing criminal activities in the world, affecting Committee, and nonpro昀椀t organizations to use our some 24.9 million victims globally. A toxic digital analytics capabilities to track patterns of combination of geopolitical unrest, pandemic, internet traf昀椀c consistent with human traf昀椀cking to and the proliferation of social media has helped stop this abuse in its tracks. This year, the initiative, organized criminal syndicates lure vulnerable led by the Los Angeles Regional Human Traf昀椀cking populations and create virtual marketplaces of Task Force, resulted in 182 arrests for solicitation sexual exploitation and forced labor. Along the way, and 30 arrests for suspected traf昀椀cking. More major events like the Super Bowl, which bring huge importantly, 65 adult victims and seven minors numbers of visitors and temporary workers, have were rescued. We continue that 昀椀ght every day, become hot spots for this type of activity. working with law enforcement agencies and support For the third consecutive year, Thomson Reuters organizations around the world to do our part to Special Services teamed with federal and local law combat these abuses. 12
JUSTICE TRUTH TRANSPARENCY Putting a face on the war in Ukraine More Reuters video and photo footage was viewed globally during the month of February 2022 than in any one- month period over the last 昀椀ve years. That’s saying a lot when you consider that Reuters, one of the world’s oldest and most trusted news organizations, has had a busy 昀椀ve years covering a pandemic, an endless string of natural disasters, a public reckoning on social justice, and a volatile political environment, among other things. But Russia’s invasion of Ukraine dominated the news and captured the hearts and minds of news consumers the world over. Those images, now shared across billions of screens worldwide, were made possible by a courageous team of journalists who continually faced peril to bring important stories to life. To view more of the Reuters images, visit In pictures: 300 days of war in Ukraine. REUTERS/Antonio Bronic REUTERS/Zohra Bensemra REUTERS/Alexander Ermochenko REUTERS/Valentyn Ogirenko REUTERS/Zohra Bensemra REUTERS/Yara Nardi 13
JUSTICE TRUTH TRANSPARENCY Justice in action: Legal Pro Bono Connection If you spend enough time at Thomson Reuters, you This year, our Legal Pro Bono Connection team logged will invariably hear the trope that, if this company nearly 3,200 legal pro bono hours and extended Pro were a law 昀椀rm, it would be the world’s largest. Bono Week to a full month-long series of volunteer In fact, we are not a law 昀椀rm, but we do employ activities to help close the access to justice gap for a large, talented group of attorneys committed those in need. A highlight of this year’s expanded to helping legal professionals navigate this push was a global series of four-hour pro bono sprints complicated world. That’s why when the last in partnership with the law 昀椀rm of Baker McKenzie, week of October arrives, we herald our global focused on research and analysis to create capacity- celebration of Pro Bono Week. The event is building tools for vulnerable populations who need to typically a week-long showcase of different understand the law. Our volunteers helped develop opportunities for our attorneys to volunteer know-your-rights guides for youth interacting with police Fighting misinformation one-tweet-at-a-time their expertise on issues ranging from assisting and resource information guides to help homeless survivors of domestic violence to media freedom. youth obtain ID and other vital documents and better “Falsehood 昀氀ies, and the truth comes limping after world’s largest multimedia news provider, Reuters understand their pregnancy and parenting rights. it.” The satirist Jonathan Swift made that keen is committed to combatting misinformation, and observation in 1710. In a 2018 study published in the has expanded its fact checking initiatives on new journal Science, researchers analyzed thousands platforms and in new countries. of stories shared on Twitter and found that a false Thomson Reuters also partnered with the National Offering legal pro bono support for Ukraine story reaches 1,500 people six times faster than a Association for Media Literacy Education for the The numerous ways in which Thomson Reuters true story. 7th annual Media Literacy Week, hosting an event employees leaped to action following the invasion of That fact should be particularly startling when focused on the essential role of media literacy in Ukraine is an inspiring reminder of the impact we can set against the backdrop of new research from education. High school students learned about have when we work together toward a common goal. the Reuters Institute, which found that almost debunking misinformation and disinformation That spirit of advocacy and empowerment was on two-thirds of Brazilians (64%) are now regularly circulating on social media. display when our legal pro bono team immediately getting their news from social networks. As the lent its hands to support PILnet, a global NGO creating country guidance for individuals 昀氀eeing Ukraine and groups that want to set up charities and nonpro昀椀ts to help Ukraine. Digital news trends in 2022 Pro bono volunteers provided vital local knowledge The Reuters Institute for the Study of Journalism, on access to housing, education, childcare, healthcare, funded in part by the Thomson Reuters mental health assistance, and other social services Foundation, publishes a yearly study on digital for refugees establishing themselves in the US, and news consumption. This year’s report reveals new research on the legal frameworks for registering a insights about digital news consumption based nonpro昀椀t in the US. The team has played a pivotal on a YouGov survey of over 93,000 online news role in supplying key information to support nonpro昀椀t consumers in 46 markets covering half of the organizations and help refugees 昀椀nd the safety world’s population. networks to meet their needs. 14
SUSTAINABLE FUTURE Committed to using 100% renewable energy for all our global operations We continue to reduce our environmental impact globally. Our commitment to sourcing 100% renewable energy for our global operations, achieved largely through the purchase of renewable energy credits, has helped reduce our greenhouse gas (GHG) emissions. Reuters IMPACT continued its mission to inspire and accelerate action on climate change. Almost 2 million people engaged with content from the event via livestream. Through our work with The Chancery Lane Project, employees continued to 昀椀ght climate change by making climate sustainability a part of every commercial agreement. 15 REUTERS/Roberto Samora
SUSTAINABLE FUTURE Importance of climate-related 昀椀nancial disclosure In 2022, Thomson Reuters conducted a Task Force disclosure recommendations designed to for Climate-Related Financial Disclosure (TCFD) facilitate the provision of information to support analysis and report for the 昀椀rst time. informed capital allocation. The disclosure The TCFD was established in 2015 by the Financial recommendations center around four thematic Stability Board to identify the information needed areas in which companies operate: governance, strategy, risk management, and metrics and by investors, lenders, and other key 昀椀nancial stakeholders to appropriately assess and price targets. At Thomson Reuters, we believe the climate-related risks and opportunities. In 2017, adoption of the TCFD recommendations helps support the advancement of climate action. the TCFD released climate-related 昀椀nancial REUTERS/Dominic Ebenbichler Update on climate change targets In 2020, Thomson Reuters joined the Science from our 2018 baseline. To date, business travel Based Targets initiative, committing to reduce emissions are 66% lower than our 2019 baseline Scope 1 & 2 greenhouse gas (GHG) emissions by and we have made progress on our engagement 50% by 2030 from 2018 baseline levels, as well target with our supply chain, with 32.5% of The following risk areas were identi昀椀ed for Thomson Reuters, with all areas presenting low risk as reducing absolute Scope 3 GHG emissions suppliers by spend committed to Science Based 4 from fuel and energy-related activities, business Targets. In addition to the switch to renewable to Thomson Reuters across all time frames except where noted : travel, and employee commuting by 25% by 2025 energy, Thomson Reuters remains carbon neutral • Increased pricing of greenhouse gas emissions • Increased costs arising from sea level rise from 2019 baseline levels. Additionally, Thomson through offsetting the remaining portion of its • Enhanced emissions-reporting obligations • Increased costs and disruption from heatwaves (medium risk in long-term) Reuters aims to require 65% of suppliers by GHG footprint through carbon offsets. We spent • Increased costs and disruption from 昀氀ooding spend to have Science Based Targets by 2025. an average of 8% of our total US-based spend • Mandates on use of lower emissions technologies/ • Business disruption and/or damage arising from Since 2021, we have sourced renewable energy with diverse suppliers and our commitment is to energy supplies (medium risk in long-term) hurricane events (medium risk in long-term) for 100% of our operations. We have achieved this maintain this for 2023 despite macroeconomic • Changing customer behavior • Increased costs due to water stress largely through the purchase of renewable power pressures and in昀氀ation impact. We continue to • Risk of supplier default or increased prices due • Business disruption and/or damage from to insuf昀椀cient supplier action on climate by matching our electricity usage with renewable re昀椀ne our procurement process to incentivize wild昀椀re events energy credits acquired around the world. working with suppliers who share our commitment • Increased stakeholder concern Largely through investment in renewable power to sustainability. Please see our Supplier Diversity A summary of Thomson Reuters responses to the TCFD recommendations is provided as an appendix at the for our facilities, we’ve been able to drive more and Sustainability Statement for more information. end of this report. than a 93% reduction in Scope 1 &2 GHG emissions 4 Short (0 – 1 years, up to 2023), medium (1 – 3 years, up to 2025), and long-term (3 – 30 years) time horizons were de昀椀ned to facilitate the grouping of 昀椀nancial and operational impacts and better integrate the results into Thomson Reuters existing risk management and strategic planning. 16
SUSTAINABLE FUTURE Making sustainability legally binding 2022 was the year the world 昀椀nally woke up to the commercial agreements and transactions, a dangers of greenwashing by corporations. The 昀氀ash corporation’s climate commitments can become point was a scathing report from the UN High-Level enforceable legal obligations. This year, our team Expert Group at the COP27 climate conference, helped work on solutions to embed climate clauses which said: “Too many of these net zero pledges are into the contracts and transactions businesses have little more than empty slogans and hype.” in place with their suppliers and others. Employees There have been several proposals since on ways volunteered hundreds of pro bono hours to peer to regulate the practice. Few have been quite so review model clauses, advising on TCLP’s clauses practical as the initiatives members of our Legal and content, promoting the use of sustainability business have been working on with The Chancery clauses, and adapting model clauses for use in Lane Project (TCLP), a collaborative effort of legal various jurisdictions. Together, these focused efforts professionals from around the world to make on developing and promoting model clauses will climate sustainability a part of every commercial help sustainability become a cornerstone of contract REUTERS/Lucas Jackson law and a key component of any transaction. agreement. By including climate clauses in Accelerating action with Reuters IMPACT Perhaps no event in Reuters history has been more optimism, urgency, and energy, Reuters IMPACT aptly named than our marquee annual leadership also saw its fair share of strong opinions and bold summit and global broadcast, Reuters IMPACT. The calls for all stakeholders to stop making promises event, which was conceived to bring together world and start taking action. leaders, big business, and forward-thinking pioneers In addition to Reuters IMPACT, two other marquee to inspire, drive action, and accelerate innovation events, Reuters MOMENTUM and Reuters NEXT toward the climate crisis, lived up to its billing by conferences, collectively brought together 10 introducing bold ideas that would reverberate million participants, both in-person and virtually. through all corners of the media and beyond. Reuters MOMENTUM is a tech-focused event that The live event in London welcomed over 400 convenes C-suite technologists from the world’s leaders from the worlds of politics, business, and most innovative businesses, regulators, and 昀椀nance, and its accompanying live stream was investors to tackle the toughest questions and viewed by nearly 2 million people worldwide. create the commercial roadmap for a new wave Ultimately, the event sparked some 600 news of tech innovation. Reuters NEXT is a global forum stories on topics ranging from big business’ over- for world leaders, innovators, CEOs, and policy reliance on carbon credits to local approaches makers to dissect the crucial challenges facing to renewable energy. Infused with a rich mix of our world today. REUTERS/Kacper Pempel 1717
Fostering an inclusive culture of world-class talent The way forward will be a diverse and inclusive one — for the customers and societies we serve, and for Thomson Reuters as a company. Diversity and inclusion is core to our purpose and values. In 2022, we continued to make progress in the face of signi昀椀cant change as a company. We remain committed to prioritizing diversity and inclusion as a business imperative, continually improving the inclusiveness and equity of our employee experience for all colleagues and achieving our goals. DIVERSITY INCLUSION 18 REUTERS/Dinuka Liyanawatte
DIVERSITY Progress and continued commitment to a more diverse and inclusive Thomson Reuters INCLUSION In 2020, we established aspirational goals for diversifying our Black talent and achieving diverse candidate slates for executive senior leadership (director and above). In 2022, we continued to recruitment. This was offset by attrition of existing talent in an increase the representation of racially/ethnically diverse talent extremely competitive talent market in 2022. Focused actions to in senior leadership. Racially/ethnically diverse representation in support growth and improve retention include highlighting Black senior leadership increased by 2% year-over-year and the number high potential talent in CEO talent reviews, stay interviews, career of Black employees in senior leadership increased by one year-over- coaching and opportunity matching, and mentorship by executive year. The representation of women in senior leadership remained team members. 昀氀at year-over-year. While we did not ultimately achieve our representation goals We have successfully increased Black senior executive hiring as in 2022, we are re-committing to them in 2023. a result of focused efforts to establish relationships with senior Goals 45% or more women in 20% or more racial/ethnically diverse Double our Black talent in senior leadership roles talent in senior leadership roles senior leadership roles (60) 2022 41%women in 18% racial and ethnically diverse 38Black employees in Year End senior leadership roles talent in senior leadership roles senior leadership roles (Flat YOY) (+2% YOY) (+1 YOY) Additional information and data can be found at the end of this report and in the extended data sheet. Early career programs focused on historically underrepresented talent segments At Thomson Reuters, we help professionals advance their To help ensure diversity in our ranks, we’ve spearheaded several the launching of the internship program in Brazil focused on businesses and gain competitive advantage with the trusted new initiatives focused on recruiting interns from historically black talent. We’ve also continued to grow our Autism Spectrum answers only we can provide. To do that, we need to be able underrepresented talent segments. These include our new Black Internship program in India, which is now entering its third year to walk in our clients’ shoes to understand all facets of the Employee Network (BEN) Europe Black Internship Scheme, to include anyone with an intellectual disability and has already challenges they face. It is critical, then, that our people also re昀氀ect which is designed to create a pathway for Black talent in the UK, added more than 40 new interns and six full-time employees onto the diversity of thought, culture, and perspective that exists in the a new internship in Manila focused on recruiting members of our team. communities in which we work. the LGBTQIA+ community and individuals with disabilities, and 19 REUTERS/Athit Perawongmetha
DIVERSITY INCLUSION Business Resource Groups at the heart of diversity & inclusion and our culture Our ten Business Resource Groups (BRGs), throughout our business. With the pandemic Network — focused on fostering inclusion, with more than 80 chapters and over 160 and our shift to a hybrid environment, belonging, and allyship for the range of co-leads and 50 sponsors, play a critical they proved essential to preserving and global faiths and spiritual diversity that exists role in cultivating a culture of belonging, promoting our culture and connectivity. in our workforce. We’re excited to see the driving awareness, understanding of diverse At the end of 2022 we announced the launch impact that this addition will have for our backgrounds, and experiences represented of a tenth BRG — the Interfaith Employee employees. Nine BRGs operated throughout 2022: Continued expansion of the Diverse Talent Asian Af昀椀nity Network (AAN) Early Careers Network (ECN) Pride at Work Academy program Black Employee Network (BEN) Indigenous Peoples Network (IPN) Veterans Network Recruiting diverse talent, of course, is just part of the equation. We also need to make sure Disability Employee Network (DEN) Latino Employee Network (LEN) Women at TR we’re doing everything we can to accelerate the careers of people from diverse backgrounds once they’re here, by exposing them to differentiated development opportunities and sponsorship. This year, we did that by expanding our Diverse Talent Academy program, in partnership with McKinsey, to equip our future leaders with the skills, peer networks, and sponsorship to achieve their aspirations and grow within Thomson Reuters. With speci昀椀c Academies focused on Hispanic/ Latino, Black, and Asian talent, the program reached over 200 racial and ethnically diverse colleagues across the company, more than doubling its reach and impact from the previous year. In addition, 33 executives participated as sponsors for participants in the Executive The Black Employee Network Europe promoted the Black Internship Scheme The Asian Af昀椀nity Network — with chapters across Dallas, Toronto, Leadership track of the program. Eagan, New York, and India — hosted a virtual Global Diwali Celebration 20
DIVERSITY INCLUSION Continuing to grow our global footprint Building on our diversity & inclusion foundations A big part of what de昀椀nes the Thomson Reuters culture is our global presence. With of昀椀ces and We continued to invest in and make progress on three employees around the world, we are continually key initiatives referenced in our 2021 report. We grew inspired and challenged by helping our clients the completeness of our voluntary self-identi昀椀cation address hyperlocal needs with a truly global vision. data by 10% through our internal Count Me In Future of work: Ensuring inclusivity and combating proximity bias This year, we expanded that global reach even initiative, further strengthening our global talent wider with the opening of new of昀椀ces in Mexico insights and informing our efforts to increase D&I As the world has changed so dramatically over for our employees. Delivering on that mandate is City, Mexico and Bangalore, India. at Thomson Reuters. We continued to highlight our the last few years, so too have conventional ways the job of our Design Accessibility Team, a cross- In both cases, our new locations have been Breaking Bias program and enroll new and existing of working, pushing us all into a heavier reliance functional group that’s helped ensure that we designed to accommodate remote and hybrid employees in this enterprise training, resulting in 66% maintain our designation as a “Best Place to Work on digital tools and new de昀椀nitions of what an work environments with large collaboration and global employee completion. Through Ten Thousand for Disability and Inclusion” and earn a 100% score of昀椀ce looks like. While many of these changes socialization spaces creating opportunities for Coffees, our digital platform that democratizes access have helped improve accessibility and inclusion on the Disability Equality Index, a benchmark teams to come together. To help launch the Mexico to social learning, networking, and mentorship, for people with disabilities, not every change developed by Disability:IN and the American over 16,000 meaningful connections were made by has had a positive impact. Digital accessibility, Association of People with Disabilities. Drawing on of昀椀ce, we hosted our 昀氀agship SYNERGY event in colleagues across the world through one-on-one for example, has become a critical issue as more input from our technology, people, sustainability, Mexico City, this year, drawing Thomson Reuters colleagues and clients from around the world to this coffee chats and leader-hosted of昀椀ce hours. professionals have shifted to remote and teleworking and facilities teams, Thomson Reuters has ensured vibrant, exciting place. In India, our new, state-of- arrangements, and we have committed to ensuring that our solutions are universally accessible and the-art green space in Bangalore opened its doors Reuters newsroom diversity report its tools, technologies, and physical workspaces are that our employees around the globe — whether in October. The of昀椀ce is now a hub for expanded Building a newsroom of diverse backgrounds and equally accessible to all. working remotely or in of昀椀ces — are part of an inclusive environment. news coverage of India’s 昀椀nancial markets from both perspectives will help us cover the globe more It’s an ethos that extends to the products we build Reuters and Re昀椀nitiv. faithfully, to report the facts more fully, and to for our clients and the environments we create uncover the truth more courageously, as referenced in the 2022 Reuters Newsroom Diversity Report, due to be published later on this year. 21
DIVERSITY INCLUSION Going all-in on wellness for employees The rise of remote and hybrid work has introduced in the workplace, and signposting employees to Through Flex My Way, we’ve introduced a six-month a level of 昀氀exibility that was never before possible. support and resources. By signing on to the Mindful sabbatical program to give our people the space they As many companies have learned, however, simply Business Charter, we joined a group of organizations need to get out from under the crush of deadlines to allowing people to work from home, then expecting committed to ensuring that mindful business practices pursue passion projects. Our global caregiver and them to sit on a never-ending cycle of video are embedded into the workplace and creating an bereavement leave policies enable employees to step conferences, is not a recipe for employee wellness environment where everyone can speak openly and away from work for the moments that matter. Our or building a higher purpose. To give employees the con昀椀dently about wellbeing. We delivered monthly Work from Anywhere program gives employees the runway they need to chase goals and 昀椀nd ful昀椀llment wellbeing campaigns on topics like gratitude, women’s opportunity to work in a different location for up to in their careers, employers need to provide resources health, and mindfulness, and provided resources to eight weeks per year, with up to four of those weeks in that support employee wellbeing. employees including Brave Spaces support groups for another country. Over time, we believe that programs Thomson Reuters has taken a leadership role among those impacted by life changing events such as cancer, like this, which shift the employer’s focus from Increased investment in career multinational corporations in leveraging new ways the Ukraine War, and Asian hate crimes. In addition, we productivity and facetime to employee wellbeing and development and internal mobility of prioritizing the mental health and wellbeing equipped employees with just-in-time resources like our maximizing personal potential, will create a much of our people. We launched a new mental health Employee Assistance Program, Headspace meditation more engaged workforce and a stronger company. As we continue to grow as a company, further training for all people leaders on reducing stigma, app, and on demand learning resources on resilience expanding our technological and geographic empathetic leadership, creating psychological safety and mental health. footprint in ultra-fast-moving business segments, we need to keep pushing the boundaries of innovation and challenging the limits of what’s possible. It’s essential that our people harness that spirit of innovation by continuously learning, expanding skill sets, and growing with us. In 2022, we launched our 昀椀rst-ever Career Month focused on increasing internal career development and talent mobility within the company. Featuring a series of events, networking opportunities, and resources, such as our Career Hub platform, which helps catalyze mobility within Thomson Reuters, the initiative was an important step forward in empowering our team to unlock their potential. Thanks to the increased awareness and available resources introduced in Career Month and sustained career development efforts throughout the year, we expect more than half our open positions to be 昀椀lled with internal talent in 2023. 2222
Employees helped COMMUNITY to donate over IMPACT $1 million to nonpro昀椀t organizations globally We have a shared responsibility to do business in ways that respect, protect, and bene昀椀t our customers, our employees, our communities, and our environment. To support this corporate value, we encourage employee volunteerism, provide 昀椀nancial and in-kind donations, and offer corporate matches for employee donations. Employees continued to use their time, skills, and money to make an impact in their communities and globally by logging over 68,000 volunteer hours, both virtually and in-person. Of these volunteer hours, over 14,000 were for pro bono support 3 valued at over US$2.7 million in consulting services to nonpro昀椀t organizations. Team volunteer efforts were rewarded with corporate grants and through the Matching Gifts and Volunteer Grants programs, we donated nearly US$1.4 million to over 1,400 nonpro昀椀ts in a dozen different countries. In addition, many teams participated in our inaugural Global Volunteer Day, coming together to make an impact. 3 Pro bono valuation is calculated by using the average hourly value for pro bono service ($195 per hour), as referenced by the Taproot Foundation. 23 REUTERS/Ibraheem Abu Mustafa
COMMUNITY IMPACT Supporting our communities on Global Volunteer Day With over 25,000 employees worldwide, Thomson This year, we honored that tradition of giving with Reuters recognizes strength in numbers. While we our inaugural Global Volunteer Day. Organized by all devote an enormous amount of that strength our Social Impact Institute, the event was supported to our day jobs empowering professionals with the by over 750 employees in 15 countries who intelligence, technology, and expertise they need to collectively helped over 100 nonpro昀椀t organizations. 昀椀nd trusted answers, we also make it a priority to When all was said and done, we had contributed volunteer in our communities. Whether it’s the pro over 5,000 hours of service in the communities bono work our Legal teams support every year or in which we live and work, showing the collective the individual contributions our employees make to impact we can have as a company. countless nonpro昀椀t organizations, volunteerism is at the center of our culture. Addressing the digital gap As the business world continues to de昀椀ne power of arti昀椀cial intelligence (AI) and natural competitive advantage with data- and analytics- language processing to improve their audio driven business intelligence and work昀氀ow platform for the visually impaired. Meanwhile, improvements, the divide between digital “haves” the datathon helped three organizations — the and “have-nots” has grown wider than ever. To Dignity Foundation, Janajariti, and Yuvakasangha — address this gap, the Thomson Reuters India Labs analyze member data, government data, and social team partnered with Amazon Web Services (AWS) media content to re昀椀ne outreach and engagement to host a hackathon and datathon where we could strategies. Together, these two initiatives helped lend our collective expertise to local nonpro昀椀t bring some of the data, analytics, and AI expertise organizations. we’ve been re昀椀ning over the last several years to The hackathon helped Enable India, an organization a group of organizations that would otherwise not supporting people with disabilities, harness the have had access. 2424
COMMUNITY IMPACT Addressing the revolving doors of the criminal justice system An estimated $350 million in damages were working with the GreenLight Fund Twin Cities’ Let sustained to businesses and some residences in the Everyone Advance with Dignity (LEAD) program. Minneapolis-St. Paul region, following a period of The breakthrough initiative takes a public health protest and unrest sparked by the murder of George approach to community safety that diverts Floyd. Thomson Reuters mobilized their resources individuals cycling in and out of the legal system following the tragic events with a $1 million into a long-term case management model of care. investment in an effort to rebuild the community. Focused on decreasing recidivism and improving But 昀椀xing damaged property and restoring physical stability for residents facing challenges with structures was just a small part of the healing non-violent offenses, the program is a critical part process that needed to happen in the Twin Cities of addressing the structural and systemic issues and beyond. that have historically limited access to justice Today, Thomson Reuters is continuing to help in the region and marginalized communities across multiple facets of that healing process by across the country. Update on Law Firm Anti-Racism Alliance In 2020, following the murder of George Floyd, As the program has grown, so has the need for Thomson Reuters banded together with a group resources to help members collaborate, share of top law 昀椀rms to 昀椀nd ways to identify and root resources, and track progress. Thomson Reuters out systemic and structural racism in the law. has helped support that need by developing a What started as a grassroots effort soon gained collaboration platform and searchable library that momentum. The group established the Law Firm allows all LFAA members to work together in real- Anti-Racism Alliance (LFAA) as a standalone time. We further supported a partnership between the nonpro昀椀t entity. Now, just over two years later, the LFAA and the Truth, Hope & Justice Initiative, working effort has garnered the support of over 300 law in conjunction with the law 昀椀rm Ropes & Gray, to 昀椀rms and 165,000 attorneys working together to compile thousands of records of police brutality help legal service organizations and community and subsequent legal actions in Chicago, in order to leaders participate in pro bono projects and amplify identify patterns of behavior that potentially could be the voices of those oppressed by racism. consistent with systemic and structural racism. This effort, which was a Thomson Reuters Awards winner, exempli昀椀es our commitment to social justice. 2525
COMMUNITY IMPACT Recognizing our employees’ achievements Each year, the Thomson Reuters Awards celebrates Alliance to help provide pro bono legal services and the extraordinary achievements of a select group of amplify the voices of those oppressed by racism. colleagues who go above and beyond while living our Other winners included Heather Fischer, Senior company purpose. Recipients of these awards acted Advisor for Human Rights Crimes at Thomson boldly and took risks that made a huge impact on Reuters Special Services, and Dave Moran, Head our people, our customers, and the communities in of Product and Consumer Communications, who which we serve. On behalf of each winner Thomson spearheaded an effort to raise awareness for a rise Reuters makes a $10,000 donation to a nonpro昀椀t of in sex traf昀椀cking following the war in Ukraine, and their choice. April Christenson, Vice President of Global Bene昀椀ts Among this year’s eight winners were Dan Calanca, and Wellbeing, who helped bring our Flex My Way a Client Success Consultant on our HighQ product work from anywhere and employee sabbatical team, who worked with the Law Firm Anti-Racism programs to life. Partnership with Social Business Trust in the UK For the past decade, Thomson Reuters has been a of expert panels, and direct advisory support on proud corporate partner of the UK-based nonpro昀椀t individual business issues. Social Business Trust, which is dedicated to helping Several domain experts participated in Advisory high-potential social enterprises grow and increase Boards — giving their time on a regular basis to their impact. The organization achieves this by support the social enterprises with problem-solving facilitating professional support and cash grants and best practice insights in areas such as Strategic from its leading corporate partners in a carefully Finance, Sales & Marketing, Digital, and Human selected portfolio of social enterprises. Resources. A hackathon event was held at of昀椀ces in In 2022 the partnership was strengthened due to London, where 昀椀ve social enterprises were aided by 45 the close working relationship between a group of volunteers, providing their knowledge and experience Thomson Reuters volunteers and SBT’s leadership to help solve several selected business challenges. team to increase the support provided to the 11 Our association with Social Business Trust offers social enterprises in their portfolio. These volunteers meaningful professional development and provided a wide range of domain expertise across networking opportunities, as well as the inherent several key programs, including the SBT Investment reward of contributing to the causes served by social Committee, directing speci昀椀c investments and enterprises themselves. projects within social enterprises, membership 2626
COMMUNITY IMPACT Bridging the education gap in Brazil Meeting the needs of local communities Showing support for Ukraine refugees ABADEUS Centro de Inovação Social [ABADEUS Social Innovation As costs continue to rise due to in昀氀ation, food banks have seen an Thomson Reuters recognizes employees who’ve demonstrated an Center] is the 昀椀rst Social Innovation Center in Santa Catarina, Brazil. increase in demand. To help with this global issue, our employees extraordinary commitment to volunteerism with its annual Carla The relationship between ABADEUS and Thomson Reuters started continued to support food banks through volunteer events and Jones Social Impact Award. Recognition is a testament to the power with campaigns to support children for an annual Christmas party. collection drives. In Minneapolis-St. Paul, over 300 volunteers of individuals to drive change. Afterwards, a more effective partnership began, which resulted packed over 101,000 meals through an annual event with Feed My The winner of this year’s award is Agnieszka Podgorska, who in volunteering that directly contributed to the improvement and Starving Children, continuing our partnership with the organization organized a group of nine colleagues to travel to the Polish-Ukrainian transformation of families. that has spanned over a decade. border to help refugees 昀氀eeing Ukraine. During their visit, the team Throughout the year, Thomson Reuters employees supported ABADEUS In Dallas, Texas employees packed over 30,000 meals for the North volunteered over 200 hours, working to provide meals, purchase through various educational and professional volunteer events. Our Texas Food Bank. Employees in London participated in two food groceries, and more. Agnieszka also set up a crowdfunder, which employees were involved in the 昀椀rst robotics class for 18 youth from drives to collect boxes of food to donate to the Newham Food Bank. raised nearly $10,000 to purchase food, clothing, and electronics to the neighboring municipality of Içara, carried out by ABADEUS in As part of Global Volunteer Day, volunteers in Torreón, Mexico took help refugee children continue their education. In recognition of her partnership with ACII — Association. Students from this program also a grassroots approach and assembled over 100 breakfast kits and efforts, Thomson Reuters made a $10,000 donation to Ukrainian received a lecture and guided tour of our of昀椀ce in Brazil. In addition, 42 delivered them to those in need around the city. Children, an organization currently aiding in Ukraine refugee relief. employees received training in agile methodologies and lectures for professional development, which resulted in more quality education for students served by the institution. To date, over 450 participants have bene昀椀tted directly, and over 1,300 indirectly, from the support of Thomson Reuters volunteers. This partnership continues to help support a promising future for the vulnerable families assisted by ABADEUS. 27 REUTERS/Go Nakamura
THOMSON REUTERS FOUNDATION Driving change in inclusive economies, media freedom, and human rights The Thomson Reuters Foundation works to protect media freedom, foster more inclusive economies, and advance human rights issues. The Foundation combines its unique media and legal expertise to drive change through several services, including its journalists who report from the ground in more than 70 countries. It also offers media development and support to independent journalism, facilitates free legal assistance to NGOs and social enterprises around the world, and hosts opportunities for cross-sector collaboration including its annual human rights forum Trust Conference. Its mission is to inspire collective leadership, empowering people to shape free, fair, and informed societies. Additional information on the Foundation can be found at trust.org. 28 REUTERS/Neil Hall
THOMSON REUTERS FOUNDATION Media freedom – Media Freedom Coalition Secretariat Inclusive economies – our work on ESG Inclusive economies + human rights – The Foundation was selected to host the Secretariat for the Media Freedom The Foundation’s work on the social component of ESG has launch of Context Coalition (MFC), via a grant from the UK’s Foreign and Commonwealth continued to grow since the publication of its Amplifying the ‘S’ 2022 saw the successful launch of one of the Foundation’s most Development Of昀椀ce. The MFC is a partnership of more than 50 governments in ESG: Investor Myth Buster white paper in 2021. This year, the ambitious projects to date, Context, its new media platform covering working together to promote media freedom through public and private Foundation hosted multiple convenings and trainings of key three of the most signi昀椀cant and interdependent issues of our time: diplomacy, legal reforms, and supporting journalists at risk. stakeholders all over the world to drive solutions towards fostering climate change, the impact of technology on society, and socio- more responsible and sustainable business practices. economic inclusion. The Secretariat helps the Coalition to run more ef昀椀ciently and effectively, by dealing with administrative tasks, coordinating activities, supporting Its projects have included a program aimed at combatting modern Context is positioned as an essential ‘second read’, providing insight decision-making, and managing all communications — a highlight of our slavery and human traf昀椀cking through ecosystem support in and analysis into both news-led and original stories, allowing readers work in the media freedom space. The Secretariat has signi昀椀cantly bene昀椀ted Thailand, India, Malaysia, and Colombia through multi-stakeholder to contextualize how critical issues and events affect ordinary people, from the Foundation’s experience in project and 昀椀nancial management, as convenings in all four countries, as well as journalism training on society, and the environment. The platform is a multi-media offering, well as its extensive networks and connections. supply chain accountability. The Foundation has also partnered with with stories ranging from text to audio to video to photography and Meanwhile the Foundation has built government-level relationships and Laudes Foundation to raise awareness of the connection between data visualization, targeted at English-speaking purpose-driven strengthen visibility of relevant media freedom issues, allowing it to adapt climate, inequality, and labor rights. Through this partnership, professionals who have the power to affect change through their work. its strategy and programming. the Foundation trained 12 CSOs and 12 journalists across India and published an investigative piece on the labor rights abuses in With the tagline ‘Know better. Do better.’, Context aims to inform Brazil’s ethanol supply chains that was presented to an audience at its audience’s actions and inspire them to look at the human and the Foundation’s annual human rights forum, Trust Conference. environmental impact of big news stories. The Foundation’s partnership with Wellspring to increase This is just a small piece of their work. To learn more about the awareness of gender-just economic policy alternatives saw Foundation’s programs and impact, please view their annual report. training for journalists and CSOs in East and Southern Africa, as well the publication of a series of news stories on women’s economic advancement in the Global South on our new media platform, Context. 29
EXTENDED DATASHEET SOCIAL In October 2018, we sold 55% of our Financial & Risk business, which is now known as Re昀椀nitiv. For these purposes, prior period results and IMPACT 2022 targets were not restated to re昀氀ect the sale. Therefore, 2018 results are not comparable to the prior periods, nor to the related targets. 2 People data 2022 2021 2020 2019 Racial/ethnic representation (continued) 2022 2021 2020 2019 Headcount Senior executives – white | racial/ethnic diversity 68% | 17% 65% | 21% 71% | 17% Started in 2020 Total employees 25,200 24,400 24,000 24,400 Asian+ 13% 15% Started in 2021 Started in 2021 Americas 15,100 14,700 15,300 15,800 Black or African+ < 5% < 5% Started in 2021 Started in 2021 Europe, Middle East, and Africa 3,300 3,600 3,600 3,500 Hispanic or Latino+ < 5% < 5% Started in 2021 Started in 2021 Asia Paci昀椀c 6,800 6,100 5,100 5,100 Middle Eastern or North African+ < 5% < 5% Started in 2021 Started in 2021 Training Native or Indigenous+ < 5% < 5% Started in 2021 Started in 2021 Total training hours 445,000 451,000 480,000 663,000 White or European+ 68% 65% Started in 2021 Started in 2021 Average training hours per employee 17.6 18.7 19.6 27.2 Multiracial < 5% < 5% Started in 2021 Started in 2021 Remuneration Director/VP – racial/ethnic diversity 73% | 18% 74% | 16% 74% | 14% Started in 2020 Total staff costs (US$ millions) 2,636 2,698 2,468 2,617 Asian+ 10% 9% Started in 2021 Started in 2021 1 Black or African+ < 5% < 5% Started in 2021 Started in 2021 Gender representation All employees – male | female 53% | 47% 53% | 47% 54% | 46% 55% | 45% Hispanic or Latino+ < 5% < 5% Started in 2021 Started in 2021 New hires (all levels) – male | female 54% | 46% 52% | 48% 53% | 47% 55% | 45% Middle Eastern or North African+ < 5% < 5% Started in 2021 Started in 2021 Senior executives – male | female 55% | 45% 60% | 40% 66% | 34% 66% | 34% Native or Indigenous+ < 5% < 5% Started in 2021 Started in 2021 Director/VP – male | female 59% | 41% 59% | 41% 61% | 39% 63% | 37% White or European+ 73% 74% Started in 2021 Started in 2021 Managers – male | female 57% | 43% 56% | 44% 57% | 43% 57% | 43% Multiracial < 5% < 5% Started in 2021 Started in 2021 Managers – racial/ethnic diversity 70% | 22% 72% | 21% 72% | 19% Started in 2020 Racial/ethnic representation2 Asian+ 12% 10% Started in 2021 Started in 2021 All employees – white | racial/ethnic diversity 69% | 24% 71% | 22% 69% | 21% Started in 2020 Black or African+ < 5% < 5% Started in 2021 Started in 2021 Asian+ 10% 9% Started in 2021 Started in 2021 Hispanic or Latino+ < 5% < 5% Started in 2021 Started in 2021 Black or African+ 6% 5% Started in 2021 Started in 2021 Middle Eastern or North African+ < 5% < 5% Started in 2021 Started in 2021 Hispanic or Latino+ < 5% < 5% Started in 2021 Started in 2021 Native or Indigenous+ < 5% < 5% Started in 2021 Started in 2021 Middle Eastern or North African+ < 5% < 5% Started in 2021 Started in 2021 White or European+ 70% 72% Started in 2021 Started in 2021 Native or Indigenous+ < 5% < 5% Started in 2021 Started in 2021 Multiracial < 5% < 5% Started in 2021 Started in 2021 White or European+ 69% 71% Started in 2021 Started in 2021 3 Multiracial < 5% < 5% Started in 2021 Started in 2021 LGBTQ+ representation New hires (all levels) – white | racial/ethnic diversity 58% | 37% 63% | 34% 63% | 27% Started in 2020 All employees – LGBTQ+ < 5% < 5% Started in 2021 Started in 2021 Asian+ 14% 16% Started in 2021 Started in 2021 Disability representation4 Black or African+ 11% 7% Started in 2021 Started in 2021 All employees – individuals with disabilities < 5% < 5% Started in 2021 Started in 2021 Hispanic or Latino+ < 5% < 5% Started in 2021 Started in 2021 5 Veteran representation Middle Eastern or North African+ < 5% < 5% Started in 2021 Started in 2021 All employees – veterans < 5% < 5% Started in 2021 Started in 2021 Native or Indigenous+ < 5% < 5% Started in 2021 Started in 2021 White or European+ 58% 63% Started in 2021 Started in 2021 Multiracial 7% 6% Started in 2021 Started in 2021 1 These data points on gender representation contribute to SDG 5, Gender Equality. Includes data from all countries in which Thomson Reuters operates. 2 Racial/ethnic representation includes employee data from the United States of America, United Kingdom, Canada, Brazil, South Africa, and Puerto Rico. Percentages do not equal 100% given we have not reported those who have identi昀椀ed as prefer not to say, unspeci昀椀ed, and other. 3 LGBTQ+ representation includes employee data from 44 countries in which Thomson Reuters operates which represents 96% of our total employee population. 4 Disability representation includes employee data from 69 countries in which Thomson Reuters operates which represents 99% of our total employee population. 5 Veteran representation includes employee data from the US only which represents 38% of our total employee population. 30
EXTENDED DATASHEET Financial data 2022 2021 2020 2019 Policies Revenue (US$ millions) 6,627 6,348 5,984 5,906 Social Impact Policy Thomson Reuters Human Supplier Diversity and Sustainability Community Support Policy Operating expenses (US$ millions) 4,280 4,370 3,999 4,413 Rights Policy Corporate Statement Trust Principles Environment, Health & Safety Policy Diverse and Minority Owned Small Data Privacy Depreciation (US$ millions) 140 177 184 154 Business Support Amortization of computer software (US$ millions) 485 474 485 449 Code of Business Conduct and Ethics Diversity & Inclusion Commitments Modern Slavery Statement Data Security Amortization of other identi昀椀able assets (US$ millions) 99 119 123 114 Supply Chain Ethical Code Other operating losses, gains, net (US$ millions) 211 34 736 423 Operating pro昀椀t (US$ millions) 1,834 1,242 1,929 1,199 United Nations Global Compact and Sustainable Development Goals (SDGs) Earnings from continuing operations (US$ millions) 1,391 5,687 1,149 1,570 We are proud signatories to the UN Global Compact and our commitment the Ten Principles as underpinned by our Code of Business Conduct and Ethics. With products supporting the backbone of legal and tax systems worldwide, we work in strong support of SDG 16: Peace, Justice, and Strong Institutions. Net earnings (US$ millions) 1,338 5,689 1,122 1,564 Our Diversity and Inclusion efforts support SDG 5. In addition, in 2022 our employee networks engaged in quarterly SDG focus campaigns supporting Basic earnings per share (US$) 2.76 11.53 2.25 3.12 SDGs 1, 2, 4, and 13, and our commitment to SDGs 5, 12, and 13 continued to drive improvements in gender equality and our carbon footprint. Additional alignments between SDGs and our work can be seen in the metrics above and in our markets overview at thomsonreuters.com Community investment 2022 2021 2020 2019 Additional information Volunteering hours 68,000 67,000 84,000 116,000 In-depth analysis on Thomson Reuters environmental data can be found in our annual CDP disclosure Matching gifts (US$) 737,000 710,000 705,000 686,000 Speci昀椀c initiatives within Community Investment, Diversity and Inclusion, and Sustainability Volunteer grants (US$) 613,000 387,000 675,000 1,046,000 Volunteer hours/employee 2.7 2.8 3.5 4.8 Thomson Reuters Environmental Veri昀椀cation Statement Volunteer grants/employee (US$) 24.3 16.1 28.4 42.9 Data Security These data points contribute to SDG 1(No Poverty) ,2 (Zero Hunger),4 (Quality Education), 5 (Gender Equality), 13 (Climate Action), and 16 (Peace, Justice, and Strong Institutions) Accounting metric Code Disclosure Environment 2022 2021 2020 2019 Description of approach to SV-PS-230a.1 We have a dedicated Information Security Risk Management (ISRM) team who is continually identifying and addressing data evaluating our security posture and mitigating risks as part of our information security program. Total carbon dioxide (CO2) emissions (location – tonnes)6 64,000 59,000 77,000 117,000 security risk The ISRM team is led by the Chief Information Security Of昀椀cer (CISO). The ISRM team maintains 7 a risk framework that sets forth the requirements and responsibilities for risk identi昀椀cation, Total CO2 emissions (market – tonnes) 14,000 8,800 10,500 34,000 registration, and treatment. With dedicated resources focused on improving information security Scope 1 4,200 3,900 3,800 7,100 practices throughout Thomson Reuters, we strive to identify risks to our information assets and Scope 2 (electric – location)6 49,000 50,000 67,000 84,000 guard against unauthorized access, loss, or misuse. As part of managing such risks, we use a 7 variety of controls, security devices, and monitoring tools to analyze our systems and network. Scope 2 (electric – market) 0 0 0 0 Scope 2 (leased heat + other purchased energy) 2,500 2,800 3,800 3,800 Description of policies and SV-PS-230a.2 Thomson Reuters respects the privacy rights of our customers and their users and is committed Scope 3 (category 6 – business travel) 7,700 2,100 2,900 23,000 practices relating to collection, to protecting their customer personal information. In the ordinary course of business, we may usage, and retention of customer collect, store, use, and transmit certain types of personal information from our customers, Electricity used (kWh) 107,784,000 113,461,000 125,361,000 162,420,000 information who are subject to an increasing number of different data protection laws and regulations, Renewable electricity used (kWh)8 107,784,000 113,461,000 125,361,000 0 which vary by jurisdiction (and may include, without limitation, the EU General Data Protection Regulation (GDPR) and various US state and federal laws and regulations). These data protection Emissions per US$ million (tonnes) 9.61 9.32 12.90 19.89 laws and regulations are continuously evolving. We have implemented our Thomson Reuters Real estate footprint (sq ft) 3,299,000 3,733,000 3,995,000 6,726,000 Privacy Statement, which generally explains how we collect, handle, store, and protect personal Scope 1 – 2 Emissions per 1,000 sq ft (tonnes) 16.96 15.29 18.60 14.08 information in the context of our services. However, where we process customer personal information on behalf of our customers as a processor to them, our policy is to enter into Year-over-year % decline in Emissions per 1,000 sq ft (10.92) 17.80 (32.10) 8.20 agreements with these customers which may further restrict how we may collect, handle, store, % of suppliers by spend that have committed and protect that customer personal information in accordance with our agreement. to Science Based Targets 32.5% 27% Started in 2021 Started in 2021 (1) Number of data breaches SV-PS-230a.3 Similar to other large global information companies, Thomson Reuters experiences cyber-threats (2) Percentage involving and cyber-attacks. We have dedicated resources at our company who are responsible for maintaining Business Travel appropriate levels of cybersecurity and protecting our customers’ data and our internal data. Thomson Total miles traveled 33,147,000 8,964,000 10,700,000 107,916,000 customers’ con昀椀dential Reuters is also dependent on security measures that some of its third-party suppliers and customers business information (CBI) are taking to protect their own systems, infrastructures, and cloud-based applications and services. Total travel CO2 emissions (tonnes) 7,700 2,100 2,900 23,000 or personally identi昀椀able None of these threats and related incidents to date have resulted in a material adverse impact for our Air miles 昀氀own 31,910,000 8,272,000 9,350,000 101,600,000 information (PII) business. We seek to mitigate these risks through our ability to escalate and respond to known and Air CO2 emissions (tonnes) 6,340 1,500 1,600 18,000 (3) Number of customers affected potential risks through our Enterprise Security Incident Management processes. We also maintain what Rail: miles traveled 135,000 89,000 119,000 780,000 we believe is suf昀椀cient insurance coverage that may (subject to certain policy terms and conditions Rail: CO2 emissions (tonnes) 8 5 7 61 including self-insured deductibles) cover certain aspects of third-party security and cyber-risks and business interruption. Our incident response program is designed to ensure that all security incidents These data points contribute to SDG 12 (Responsible Production and Consumption) and 13 (Climate Action) or data breaches that are required to be reported to regulatory bodies, in our public 昀椀lings, and/or members of the public and media are so properly reported. The existence (or non-existence) of non- reportable security incidents or data breaches is considered company con昀椀dential and is not shared with third parties, except as required by contract or applicable law. 6 A location-based method re昀氀ects the average emissions intensity of grids on which energy consumption occurs (using mostly grid-average emission factor data). 7 A market-based method re昀氀ects emissions from electricity that companies have purposefully chosen. These data points contribute to SDG 12 (Responsible Production and Consumption) and 13 (Climate Action). 8 Renewable energy credits not yet retired. 31
EXTENDED DATASHEET Workforce diversity and engagement Activity metrics Accounting metric Code Disclosure Accounting metric Code Disclosure Percentage of gender and racial/ SV-PS-330a.1 Executive management - male | female: 55% | 45% Number of employees by: SV-PS-000.A Thomson Reuters has 25,200 employees stationed throughout the world. 15,100 come from the ethnic group representation for All employees - male | female: 53% | 47% (1) Full Time and Part Time Americas, 6,800 come from the Asian Paci昀椀c region, and 3,300 come from the European, Middle (1) executive management Executive management - white | racial/ethnic diversity: 68% | 17% East, and African regions (EMEA). All employees - white | racial/ethnic diversity: 69% | 24% (2) Temporary (2) all other employees At Thomson Reuters, we are focused on fostering an Inclusive Culture of World-Class Talent. To (3) Contract bring this to life, we are continuing to intentionally embed diversity and inclusion across all that Employee hours worked, SV-PS-000.B Not currently disclosed we do, including how we: percentage billable • Attract, retain, develop, and 昀氀ow diverse talent at all levels and across our diverse talent pipeline Professional integrity • Foster an inclusive work culture in which all talent can thrive, feel valued and respected, and Accounting metric Code Disclosure grow their careers • Lead through inclusive product design and customer experiences Description of approach to SV-PS-510a.1 The Thomson Reuters Code of Business Conduct and Ethics (Code) sets out the standards we • Partner with our customers to drive this work in the markets in which we operate ensuring professional integrity expect our employees to follow. It requires Thomson Reuters employees to conduct themselves and our business at the highest ethical standards, with integrity, and within guidelines that In addition, we continue to strive towards three diverse talent representation goals to help prohibit actual or potential con昀氀icts of interest or the perception of impropriety. The full text of address disparities in our leadership teams. These goals include: the Code policy is provided here. • 45% or more women in senior leadership roles Thomson Reuters Trust Principles are fundamental to our entire business and guide all actions • 20% or more racial/ethnically diverse talent in senior leadership roles of Thomson Reuters employees. The Trust Principles are published here. The Trust Principles • Double Black talent representation in senior leadership roles include a requirement that the integrity, independence, and freedom from bias of Thomson At the close of 2022 across our senior leadership teams, we had 41% women representation, Reuters shall at all times be fully preserved, as well as other principles. 18% racial and ethnic representation, and 38 Black talent. To drive continued progress, we are Thomson Reuters ethical values and our resulting approach to the way we do business are focusing on talent mobility, retention, leadership development, and accountability to meet the re昀氀ected in the Thomson Reuters Code of Business Conduct and Ethics. Our Supply Chain Ethical current and forward-looking needs of our organization and customers. The key to achieving Code applies to our suppliers worldwide and seeks to encourage comparable standards of these goals is our focus on driving further inclusivity, growing a strong pipeline of diverse behavior, driving commitment to ethical improvements through our supply chain. talent, providing equitable access to opportunity, and being intentional in removing bias in our workplace. Total amount of monetary losses SV-PS-510a.2 Not currently disclosed as a result of legal proceedings (1) Voluntary SV-PS-330a.2 Not currently disclosed associated with professional invo integrity (2) luntary turnover rate for employees Employee engagement SV-PS-330a.3 At Thomson Reuters, we all have a shared responsibility to do business in ways that respect, as a percentage protect, and bene昀椀t our customers, employees, communities, suppliers, and environment. Our voluntary, employee-led engagement groups help us achieve these goals. Business Resource Groups bene昀椀t both our employees and the company’s business goals. Global Volunteer Networks help drive volunteering efforts across our locations, by arranging volunteering activities, supporting local projects, and developing long-lasting relationships with community partners. Green Teams arrange knowledge sharing events on sustainable topics and look for ways we can change our consumption of resources. While we do not measure employee engagement in percentage terms we measure and disclose other engagement and inclusion metrics. In 2022 our employees volunteered over 68,000 hours of service and committed nearly $1.4m in matching gift and volunteer grant donations. Employees also received 445,000 total hours of training, averaging 17.6 training hours per employee.
ESG MATERIALITY ASSESSMENT SUMMARY SOCIAL IMPACT 2022 As part of our ESG materiality assessment, we ESG Materiality Assessment Summary The 昀椀ndings of our assessment con昀椀rmed that As a leading provider of business information prioritize the ESG topics and issues that are most conducted a company-wide human rights impact Thomson Reuters has a strong, ethics-based, services, Thomson Reuters is a global, diverse assessment (HRIA) of our global operations, risk management approach and a clear culture of signi昀椀cant to our organization and could affect our products, and services. In doing so, we sought to responsibility, integrity, and focus on implementing company that is led by our values and guided by business and stakeholders. proactively manage actual and potential human effective risk mitigation measures. Further, our principles. As a major employer, a leading news For our ESG materiality assessment, we partnered rights impacts in order to mitigate risks to both Thomson Reuters has an extensive and robust organization, and a trusted provider of information to with one of the “Big Four” accounting/consultancy Thomson Reuters and to rightsholders. management framework that includes: both the private and public sectors, Thomson Reuters 昀椀rms and used “double materiality” as our lens — plays an important role in society — one that often not just how ESG topics affect our business, but We partnered with a specialized strategy • Code of Business Conduct & Ethics, which advances the protection of human rights. At the same how our business could positively or negatively consultancy with expertise in human rights and includes provisions on equal opportunities and time, we recognize that we face a number of adverse impact people, economies, and the environment. responsible innovation, to carry out the human ensuring a respectful workplace ESG risks in global markets. Given this recognition The process helped to identify our prioritized rights impact assessment. We also engaged • Supply Chain Ethical Code to manage supply and our continuous efforts to be better corporate material topics which serve to inform our strategy, outside legal counsel to assist us with part of our chain risks citizens, we conducted a comprehensive global ESG planning, risk management, and reporting. They human rights impact assessment work. • Enterprise Risk Management Framework, to materiality assessment, which helped us identify and are (in no particular order): As part of this effort, Thomson Reuters committed identify, assess, and manage risks across all to align with the United Nations Guiding Principles domains on Business and Human Rights (UNGPs), which • Privacy Program guided by a privacy management Salient Issues Description augments our longstanding commitment to the UN framework and the Thomson Reuters Privacy Global Compact, the UN Declaration on Human Statement Technology and Work to ensure that policies and procedures are in place to promote ethical and Rights, and other international standards. Information Integrity responsible use of technologies (e.g., arti昀椀cial intelligence, machine learning, etc.) • Information Security policies and a cyber Once the company’s universe of salient human and ensure high-quality standards, con昀椀dentiality, accessibility, and integrity of the compliance program information collected and published through the pluralism of sources, ideas, and rights risks and opportunities was determined participants. • Embedded Ethics and Governance in Thomson (as de昀椀ned by the International Bill of Human Rights), our consultancy assessed the degree to Reuters data and Al lifecycles through people, Business Ethics Operate with integrity while developing, documenting, and implementing policies which actual and potential impacts were being processes, and technologies and Transparency and procedures that prohibit bribery, fraud, and other forms of corruption by managed by the company’s existing policies and • Customer credentialing and compliance oversight employees, contractors, and suppliers. Promote transparency through relevant processes. This included a review of relevant for our public records business (CLEAR) and disclosure and reporting of the organization’s 昀椀nancials, policies, and strategies. internal processes, as well as interviews with training for teams interfacing with the customers Human Rights, Justice, Work to manage human rights risks by maintaining practices that support human policy owners and program managers across our and data rights, monitoring and assessing our supply chain, and completing due diligence and Diversity, Equity enterprise. The 昀椀ndings were then mapped against • Training and support for journalists operating in and Inclusion on our practices with respect to the communities in which we operate or intend to the expectations of the UNGPs, which inform our high-risk locations, including via the Handbook of operate. Work to facilitate an internal culture of inclusivity and provide external human rights strategy and roadmap. Journalism tools that promote justice, diversity, equity, and inclusion. Climate Transition Work to forecast, mitigate, and adapt to the risks and opportunities arising from our transition to net-zero emissions by 2050 and achieving Science Based Targets. 33
ESG MATERIALITY ASSESSMENT SUMMARY SOCIAL IMPACT 2022 The assessment work further found that Thomson Aligned to the Universal Declaration of Human At the same time, the assessment also found potential risks to human rights across Thomson Reuters Reuters is uniquely positioned to maximize Rights (UDHR), this includes advancing rule of value chain. These risks were categorized by rightsholder groups and included (in no particular order): opportunities for positive impacts on human rights law — a key tenet of human rights — as well as through its unique set of products and services. individual rights such as: UDHR Description Supply Chain Work to ensure all workers in Thomson Reuters supply chain are treated with respect UDHR Article Description Workers and dignity, and that our suppliers comply fully with all employment laws, abide by our Supply Chain Ethical Code, and share our commitment to respecting human rights. Freedom from 2 Through products and services that seek to reduce bias in algorithmic Discrimination decision-making partnerships with organizations such as the Law Firm Employees Work to make progress on providing equal career opportunities and pay through Anti-Racism Alliance (LFAA) and the National Organization of Black attainment of our diversity goals and global pay reviews; work to further ensure the Law Enforcement (NOBLE). safety of all employees with special emphasis on Reuters journalists, who are also human rights defenders. Freedom from 4 Through partnerships with law enforcement, and more recently, with Slavery the Organization for Security and Cooperation in Europe (OSCE) Data Subjects Work to ensure that Thomson Reuters tools and products are free from on a digital awareness campaign aimed at providing crucial safety discrimination and bias, and that consumers can access and correct data to ensure information and advice to Ukrainian refugees to help them spot the no harm to individuals. warning signs of human traf昀椀cking. Customers/ Work to further enhance/improve our cybersecurity requirements/systems to Free Expression and 19 Through Reuters News, which publishes and distributes fair and End Users safeguard sensitive consumer data from data breachers/harm by nefarious actors; Right to Information accurate news and information, as well as partnerships with the strive to ensure that people with disabilities can access and bene昀椀t from our products National Association for Media Literacy (NAMLE) and Facebook to and services. combat dis- and misinformation. Community/ Work to improve accessibility measures for consumers to policies and procedures; Right to Participate in 21 Through Reuters News reporting on political campaigns, the Society seek to leverage our work in virtual courts to improve access to justice; work to reduce Free and Fair Elections Thomson Reuters Pro Bono Connection program, and participation in carbon emissions to achieve net zero by 2050. Time to Vote. Right to 22 Through products such as CLEAR, which can detect and limit fraud in Social Security Based on the 昀椀ndings of the HRIA, Thomson we strive to unite our commercial and societal government programs, thereby helping ensure access to bene昀椀ts for Reuters has developed a human rights roadmap to those in need. responsibilities: to Increase Knowledge, to Act with address risks and close management gaps including Courage and Integrity, and to Pursue Justice, Truth, through the development of a holistic governance and Transparency, all the while guided by our Trust process, guided by our forthcoming Human Rights Principles, including that of integrity, independence, Policy, and on-going human rights due diligence and freedom from bias. in line with the UNGPs. Our commitment to Moreover, the recommendations from this respecting human rights throughout our operations comprehensive ESG assessment will continue to will continue to guide our work and re昀氀ects our help us identify, assess, and proactively respond to Purpose as a content-driven technology company salient and material risks across our enterprise. powering the world’s most informed professionals, © 2023 Thomson Reuters TR2906771/04-23
ESG MATERIALITY MATRIX SOCIAL IMPACT 2022 5 Material Business Technology and ethics and Community and social vitality Information transparency Foundational Workforce integrity attraction, Product innovation development, Emerging and retention Human Rights, Justice, and DEI ESG Materiality Matrix Health, safety, and wellbeing Climate transition The material ESG topics were selected based on the 4 materiality assessment process and executive validation. Corporate governance Regulatory compliance Customer engagement The 7 material ESG topics are shown in the upper right Stakeholder engagement quadrant of the materiality matrix demonstrating a high ders Employee engagement level of importance to both Thomson Reuters business and ehol stakeholders. ak t Greenhouse gas (GHG) emissions The light orange shaded area represents the ESG topics rated ernal s3 highest in importance: xt o e 1 Technology and information integrity e t anc t 2 Business ethics and transparency Energy ef昀椀ciency and renewables 3 Human Rights, Justice, and DEI Impor Biodiversity and resource stewardship 4 Climate transition 5 Workforce attraction, development, and retention 2 Waste management 6 Product innovation 7 Health, safety, and well-being *Note: cybersecurity embedded within #1 Circular economy 1 2 3 4 5 Importance to internal stakeholders Environment Social Governance 35
TCFD APPENDIX SOCIAL 1 IMPACT 2022 TCFD Theme Thomson Reuters Response Relevant Disclosure Strategy Transition-related risks are largely mitigated via Thomson Reuters net-zero commitment and interim c) Describe the (con’t) science-based targets. With Thomson Reuters’ focus on primarily digital products and services for resilience of the its customers, the business strategy is inherently resilient to multiple climate-related scenarios organization’s Task Force on Climate-Related Financial Disclosure (TCFD) Summary as it is less exposed to physical risks like price increases in raw materials or energy, for example. strategy, taking into Thomson Reuters sourcing of 100% renewable energy for its global operations further mitigates the consideration different 1 potential impacts of rising energy prices associated with fossil fuel-based energy sources. Our use climate-related TCFD Theme Thomson Reuters Response Relevant Disclosure scenarios, including a Governance The Corporate Governance Committee of the Board oversees Thomson Reuters overall approach a) Describe the board’s of cloud-based models for data services also ensures the resiliency of our digital services by limiting to ESG and ensures its alignment with our long-term business strategy. The committee receives oversight of climate- the exposure of our data to physical climate-related impacts. Thomson Reuters’ ongoing supplier 2°C or lower scenario. periodic updates from management to inform the evaluation of our ESG strategy and progress related risks and engagement program supports the alignment of our suppliers’ actions on climate and risk mitigation against climate-related goals. The Corporate Governance Committee is further supported by the opportunities. with our own climate commitments. Thomson Reuters also pursues operational leases in premium HR Committee as well as the Audit Committee and the Risk Committee of the Board, which has of昀椀ce locations with ef昀椀cient building systems, which helps mitigate the risks associated with ultimate oversight over Thomson Reuters risk assessment and management processes. In the past mandates on lower use of emissions technologies/energy supplies. Overall, our risk framework and site-level facilities monitoring enables the identi昀椀cation of adaptation measures needed across our year, Thomson Reuters conducted its 昀椀rst global ESG materiality assessment and developed our new company Purpose — to Inform the Way Forward — which now collectively anchor our ESG strategy. of昀椀ce locations and other facilities. Thomson Reuters operational climate-related management is led by an operating committee of b) Describe Risk Thomson Reuters uses an industry standard approach for assessing climate-related risks and their a) Describe the Management organization’s Thomson Reuters executives, representing the most senior body of executives responsible for setting management’s role potential impacts and integrates identi昀椀ed ESG risks into the enterprise risk management (ERM) and executing our company strategy. This committee is supported by additional management bodies, in assessing and process. The Risk & Compliance team performs an annual enterprise risk assessment exercise with processes for managing climate- each Business Segment and Enabling Function and partners with the heads of each division to assess identifying and including the Enterprise Risk Committee, which assesses the status of identi昀椀ed risks, reviews the assessing climate- related risks and and describe their top respective risks. The risks identi昀椀ed by each business function are categorized adequacy of applicable mitigation plans, and reports these 昀椀ndings to this committee. The Social related risks. Impact Institute, led by our Vice President, Government Affairs and ESG, leads the implementation of opportunities. within Thomson Reuters Enterprise Risk Taxonomy, which classi昀椀es risks into pre-de昀椀ned categories, our climate strategy, embedding climate initiatives within our departments and business segments establishing a common risk language and a consistent means of risk aggregation across our c) Describe how and engaging internal and external stakeholders. business. Upon aggregation, risks are assigned a Low, Medium, High, or Critical level of severity processes for based on the Enterprise Risk Management Framework. identifying, assessing, Strategy Over the course of the last year, Thomson Reuters completed a comprehensive update of our ESG a) Describe the and managing materiality assessment, with the results informing our strategy and guiding our reporting. In 2022, climate-related risks climate-related risks Thomson Reuters also conducted a comprehensive climate-related scenario analysis to identify and and opportunities are integrated into the evaluate exposure to climate-related risks and opportunities. As part of this process, various climate the organization has organization’s overall identi昀椀ed over the pathways were applied to Thomson Reuters direct operations, strategy, and value chain, re昀氀ecting risk management. a range of future states of global emissions trajectories. The scenario analysis assessment covered short, medium, and b) Describe the physical and transition climate-related risks on our direct operations, strategy, and value chain. This long term. As material climate risks are identi昀椀ed and assessed through our Enterprise Risk Management exercise has enabled Thomson Reuters to identify relevant climate-related risks as well as several process, the Risk & Compliance team reports these to the Enterprise Risk Committee, comprised of organization’s key areas of opportunity — primarily around the procurement of renewable energy and participation senior executives, as well as the Risk Committee of the Board. Many of Thomson Reuters relevant processes for climate risks are managed through our Business Continuity and Disaster Recovery Program (BCP), managing climate- in carbon markets, the shift to more ef昀椀cient buildings, and the development of new products and led by the Resiliency Team, and designed to address disruptions of varying scope — ranging from related risks. services through R&D and innovation. business unit-level incidents to large-scale multiple-location events. The Resiliency Team provides Short (0 – 1 years, up to 2023), medium (1 – 3 years, up to 2025), and long-term (3 – 30 years) time governance and counsel to our business units worldwide to ensure that continuity and disaster horizons were de昀椀ned to facilitate the grouping of 昀椀nancial and operational impacts and better recovery planning is performed consistently across our entire company. Business continuity plans integrate the results into Thomson Reuters’ existing risk management and strategic planning. are developed to support each business unit’s strategic and operational goals, as well as meet local regulatory requirements and customer expectations. Business units are responsible for handling The following risk areas were identi昀椀ed for Thomson Reuters, with all areas presenting low risk to Thomson Reuters across all time frames except where noted: increased pricing of greenhouse gas all application, product, and technology issues relevant to a climate-related incident or disaster, as emissions; enhanced emissions-reporting obligations (medium risk in long-term); mandates on use well as customer communications. In addition, climate-related risks located within our value chain of lower emissions technologies/energy supplies (medium risk in long-term); changing customer are managed by our Procurement Team, which is responsible for engaging suppliers on climate and requiring them to mitigate their climate risk. This occurs through the quarterly business reviews behavior; risk of supplier default or increased prices due to insuf昀椀cient supplier action on climate; increased stakeholder concern; increased costs arising from sea level rise; increased costs and conducted with key suppliers, and through the development of ESG-related clauses in our vendor contracts and the Supply Chain Ethical Code to which suppliers are held. disruption from heatwaves; increased costs and disruption from 昀氀ooding; business disruption and/ or damage arising from hurricane events (medium risk in long-term); increased costs due to water Metrics and Relevant metrics used by Thomson Reuters to assess climate-related risks and opportunities in line a) Disclose the stress; and business disruption and/or damage from wild昀椀re events. Targets with our strategy and risk management process are captured on pages 8-9 and in the “Environment” metrics used by the Exposure rankings to six climate-related hazards (heat stress, droughts sea level rise, cyclones, b) Describe the impact table in the Appendix of our Social Impact Report. organization to assess of climate-related climate-related risks heatwaves, 昀氀oodings, and wild昀椀res) were individually evaluated across our global facility locations risks and opportunities and opportunities in and fed into Thomson Reuters real-estate planning. These results are used to further re昀椀ne site- on the organization’s line with its strategy level tracking on risk indicators and adaptation measures (e.g., tracking water recycling and low 昀氀ow businesses, strategy, and risk management systems to mitigate against drought; and measuring HVAC system ef昀椀ciency to ensure employee process. comfort during heatwaves). The exposure results of each climate-related hazard represent a key and 昀椀nancial planning. input into our business impact models used to determine the overall potential business impact of each climate-related risk. 1 As discussed with Thomson Reuters, the corresponding recommendations will not be published, but we have provided here to facilitate review. 36
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