Our approach, guided by our Trust Principles and underpinned by the Thomson Reuters Code of Business Conduct & Ethics, is at the core to our purpose and values, and is articulated through our Social Impact Policy.
Thomson Reuters is dedicated to upholding the Trust Principles and to preserving its independence, integrity and freedom from bias in the gathering and dissemination of information and news.
We report annually on our progress and performance related to responsible business practices in our annual report.
We are members of the United Nations Global Compact, this commitment makes us accountable to the Ten Principles and also informs how we are supporting the Sustainable Development Goals.
On the 50th anniversary of Earth Day, Thomson Reuters announced that it will work to achieve net-zero emissions by 2050 or sooner. The new targets align to worldwide efforts to limit global temperature rise to 1.5°C above pre-industrial levels, the most ambitious aim of the Science Based Targets initiative.
Thomson Reuters goal to achieve net-zero emissions by 2050 contemplates a reduction of its current carbon footprint of 117,000 metric tons of CO2 emissions per year, which declined 6.2% in 2019 compared to the prior year. The company plans to target its reduction efforts on energy use for its data centres and offices, business travel, and the creation, support and delivery of products.
The new targets build on a decade of carbon reduction work at Thomson Reuters, including achieving carbon neutrality in 2019, and the company’s previously announced plans to source renewable energy for 100% of its global energy needs by 2020 through purchasing of renewable energy credits including wind energy in Brazil, Canada, India and the U.S.
Our employees bring their skills and their passions to their roles here at Thomson Reuters, and we know that they are keen to use and develop those skills outside of the business by supporting charitable organizations. In 2019 our employees volunteered over 116,000 hours to charitable organizations and causes across the world. In 2020 we shifted to virtual volunteering due to the COVID-19 pandemic and temporarily increased volunteer time off for regular employees from 16 hours to 32 hours due to the unprecedented events of the year. This allowed employees extra time to support the causes that mean the most to them. We also saw an uptick in volunteer hours logged from employees in our Legal Pro Bono program.
Our Global Volunteer Networks are employee-led groups which drive volunteering efforts across our locations, by arranging volunteering activities, supporting local projects and developing long-lasting relationships with community partners. The networks expand the reach and impact of the Social Impact Team initiatives to forward Thomson Reuters social goals and objectives. These groups are the fabric of our volunteering culture and successes.