Approach
Our directors are focused on managing ESG risks and opportunities at both the full Board level and on multiple Board committees. At the committee level, the Nominating and Corporate Governance Committee is charged with reviewing and assessing the company’s environmental, social and governance initiatives and making recommendations to the company to further its ESG goals (NCGC Charter). The Nominating and Corporate Governance Committee reviews ESG matters at two or more meetings each year.
In addition to the mandate of the Nominating and Corporate Governance Committee, important aspects of ESG management are a focus for the following committees:
- Risk Committee: Cybersecurity and climate related risks
- Compensation Committee: Human capital management issues, including diversity and pay parity
Our overall strategy is guided by an ESG Governance Committee comprised of senior officials from across the company, including the:
- President
- Chief Financial Officer
- Chief Regulatory Officer
- General Counsel
- Corporate Risk Officer
- Human Resources Officer
- President of the New York Stock Exchange
- President of Fixed Income & Data Services
- President of ICE Futures U.S.
- President of ICE Futures Europe
- President of ICE Mortgage Technology
This committee meets quarterly and communicates frequently to assess ESG risks and opportunities across the company. Our internal approach to sustainability and ESG disclosure is coordinated by our Vice President of Sustainability.
In addition to these formal structures, several departments play a critical role in our approach to sustainability, including the human resources, facilities, risk management and business continuity preparedness teams.
ICE has also developed a Sustainable Finance Product Steering Committee, which meets regularly to deliver on its mission to provide innovative market tools to help drive progress toward global climate and other sustainability goals. Additionally, we have designated a President for ESG products company-wide to guide and further reinforce our overall strategy.
We began publishing annual sustainability reports in 2016 and we continue to evolve and refine our reporting each year. Past years are archived on our website. Our website also includes additional details that are updated throughout the year to provide a more real-time view of what we are doing. Additionally, we use reporting standards to enhance our disclosures, including:
- Sustainable Accounting Standards Board (SASB) metrics for the exchange sector
- Taskforce for Climate-related Financial Disclosures (TCFD) aligned reporting
- UN Sustainable Development Goals
In addition to the actions we take within our own business, we monitor the impact we can have through our supply chain, including:
- Vendor Onboarding - Through our vendor onboarding and assessment processes we are collecting ESG data points to inform our decision making. This includes efforts to track and expand our spend with diverse-owned businesses and assess efforts by our vendors to measure and reduce carbon emissions. We are still in the early stages and are actively working to build out the appropriate framework.
- Code of Conduct - Our business partners and third parties are an extension of our organization. We expect that our suppliers, agents and business partners will follow ethical standards similar to our own when working with us or on our behalf. This means that we will consider terminating contracts with vendors or partners that do not strive to meet our high standards or contractual obligations.
- Human Rights - Our Modern Slavery Act Policy reflects our commitment to acting ethically and with integrity in all ICE business relationships, and to implementing and enforcing effective systems and controls to help ensure slavery and human trafficking is not taking place anywhere in our supply chains.