NEW YORK – The latest sustainability report from Nasdaq, released in 2024, pulls back the curtain on how one of the world’s most influential financial technology companies is cutting its own emissions while building the tools others need to manage theirs. For a sector that consumes significant energy to power exchanges, data centers, and software, the report lays out both achievements and tensions: progress on net zero targets, and the broader sustainability risks posed by fintech’s rapid growth, as flagged by the U.S. National Institutes of Health.
Climate Commitments with Science-Based Validation
Nasdaq has secured Science Based Targets initiative (SBTi) approval for its decarbonisation pathway: eliminate Scope 1 and 2 emissions entirely by 2030 through renewable electricity and efficiency, halve Scope 3 emissions by the same date, and achieve a 95% cut in value-chain emissions by 2050.
“We remain dedicated to sourcing 100% renewable electricity for our global operations and achieving carbon neutrality by investing in high-quality carbon removal projects and projects that offer biodiversity co-benefits aligned with Nasdaq’s environmental priorities,” said Jason Gregoric, Senior Director and Global Head of Environmental Sustainability and Real Estate Project Office at Nasdaq.
The company reported a reduction in greenhouse gas emissions from 107,844 metric tons in 2023 to 97,488 metric tons in 2024, attributing progress to sustainable leasing strategies and real estate portfolio resizing. Scope 2 emissions have now been driven to zero, with 100% renewable electricity procured for offices and data centers.
Programmes Driving Carbon Reduction
Nasdaq’s climate action is anchored in two interlocking programmes:
- Carbon Net Zero Programme: long-term, science-based initiatives aimed at eliminating emissions directly at source.
- Carbon Neutrality Programme: full renewable energy procurement and verified carbon credits to address Scope 1, 2, and 3 emissions.
The company has simultaneously scaled waste audits, sustainable procurement, and office recycling measures. Simple but symbolic actions—like installing refill stations that eliminated more than 570,000 single-use bottles in five years—complement the bigger capital decisions.
“It’s inspiring to be part of a company that believes that integrity, transparency, and sustainable innovation are not just aspirations—they define who we are and how we show up every day,” said Nina Eisenman, VP, Head of Corporate Sustainability Strategy & Reporting.
Building Solutions for the Market
Nasdaq’s sustainability push is not confined to its own footprint. A suite of client-focused products positions the exchange operator as both practitioner and enabler of sustainable finance.
Key platforms include Metrio, a SaaS tool for ESG data management and disclosure; Sustainable Lens, a research and benchmarking service for investors; IR Intelligence, supporting investor relations teams with stakeholder engagement; and Puro.earth, a carbon removal crediting marketplace.
“With Nasdaq’s comprehensive solutions suite of built-for-purpose technology, corporate sustainability professionals can navigate complex regulations, access real-time insights, and receive expert guidance, all with the same provider,” said Gabriella Halasz-Clarke, VP, Head of Sustainability and Governance Solutions.
The integration of Adenza—acquired in 2024—into Nasdaq’s sustainability programmes further strengthened its capacity to serve clients managing regulatory reporting and emissions disclosures.
Culture, People, and Diversity
Beyond carbon, Nasdaq’s sustainability narrative extends into its workforce. Operating across 38 countries, the company reported that women represent 35.8% of its staff and people of Asian, Black, and other underrepresented ethnicities make up more than one-third of employees.
In 2024, Nasdaq delivered more than 210,000 hours of staff training and introduced new leadership and recognition programmes.
Bryan Smith, Chief People Officer, noted: “In 2024, Nasdaq continued to invest in our ‘talent engine’, including employer branding to attract top talent, hiring at scale, increasing employee and leadership development, rewarding for results, enhancing our office experience and focusing on employee recognition. As a result, we’ve achieved company record high engagement scores with company record-low attrition.”
The company also hosted “Purpose Week,” a series of sustainability workshops and forums designed to embed environmental awareness into corporate culture.
Rankings and Recognition
External benchmarks reflect Nasdaq’s positioning. In 2024, it scored AA with MSCI, 70 with EcoVadis, and achieved a 1 in ISS QualityScore—all indicators watched closely by institutional investors.
“I am proud of Nasdaq’s unwavering commitment to powering resilient growth across the global economy,” said Adena Friedman, Chair and CEO. “Over the course of the year, we made substantial progress on our vision to be the trusted fabric of the world’s financial system by helping our clients solve their most complex challenges.”
The Takeaway
For policymakers and investors, Nasdaq’s strategy illustrates the dual role of global market infrastructure providers: reduce their own considerable footprint while offering scalable, credible solutions that enable others to meet tightening disclosure requirements and net zero pledges.
As financial technology continues to expand—bringing with it heavier energy demand—the Nasdaq case offers a window into how the sector can align digital innovation with climate responsibility. The durability of its approach will be tested in coming years as disclosure mandates from ISSB, CSRD, and national regulators move from voluntary to compulsory.
Related Content: Nasdaq Launches Free Online Carbon Academy to Accelerate Climate Action Education
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