Forest from above

    Nasdaq 2022 Sustainability Report

    Governance: Solidifying Corporate Excellence

    Our ESG Oversight Structure

    Our Board is committed to overseeing Nasdaq’s integration of ESG principles and practices throughout the enterprise. Thirty-six percent of our Board nominees have experience with environmental and social matters (including human capital management), which strengthens our Board’s review and oversight of our sustainability initiatives. The Board's Nominating & ESG Committee has formal responsibility and oversight for all ESG policies and programs and receives regular reporting on key ESG-related matters.

    #1
    “Best Proxy Statement” in Corporate Secretary Magazine’s 2022 Corporate Governance Awards

    35+
    ESG-focused investor engagements

    36%
    of our Board nominees have experience with environmental and social matters

    Board Diversity

    The Board values diversity in evaluating new candidates and seeks to incorporate a wide range of attributes across the Board of Directors and on each of our Committees. Our director nominees represent a wide range of diverse backgrounds, experiences, leadership, and skills that together embody the knowledge relevant to Nasdaq’s strategic long-term vision and global operations. Advancing diversity creates a competitive advantage that differentiates and elevates everything we do—and that commitment starts at the top.

    Ethics & Compliance

    The Nasdaq Ethics and Compliance Program is designed to meet or exceed applicable standards, including guidelines published by U.S. and European regulators. Our Global Ethics Program supports and promotes meaningful implementation of the Code of Ethics throughout our business.

    In 2022, we furthered the use of automation and analytics in supporting compliance programs to drive effectiveness and reduce risk, completed updates of our Code of Ethics and related policies to make them more engaging to our employees and address evolutions in our business, and enhanced employee training programs through additional focus on targeted topics.

    All employees are required to complete trainings and certifications on an annual basis and as part of their initial on-boarding. Training topics include: 

    • Ethics, Integrity and Conflicts of Interest 
    • Cybersecurity Awareness and Privacy 
    • Anti-Financial Crime & Anti-Money Laundering 
    • Economic Sanctions and Trade Controls 
    • Insider Trading 
    • Nasdaq’s SpeakUp! Program 
    • Anti-Corruption, Gifts and Business Entertainment 

    The Nasdaq Ethics and Compliance Program is designed to meet or exceed applicable standards, including guidelines published by U.S. and European regulators. Our Global Ethics Program supports and promotes meaningful implementation of the Code of Ethics throughout our business.

    In 2022, we furthered the use of automation and analytics in supporting compliance programs to drive effectiveness and reduce risk, completed updates of our Code of Ethics and related policies to make them more engaging to our employees and address evolutions in our business, and enhanced employee training programs through additional focus on targeted topics.

    All employees are required to complete trainings and certifications on an annual basis and as part of their initial on-boarding. Training topics include: 

    • Ethics, Integrity and Conflicts of Interest 
    • Cybersecurity Awareness and Privacy 
    • Anti-Financial Crime & Anti-Money Laundering 
    • Economic Sanctions and Trade Controls 
    • Insider Trading 
    • Nasdaq’s SpeakUp! Program 
    • Anti-Corruption, Gifts and Business Entertainment 
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    Cybersecurity & Information Security

    Cybersecurity is an integral part of risk management at Nasdaq. The Information Security Department is responsible for coordinating the protection of our core business operations and information against real-world cyber threats by employing technology, policy, processes, education programs and sound design techniques across the organization.

    On an annual basis, the Information Security team reviews and updates its governance documents, including the Information Security Charter, the Information Security Policy, and the Information Security Program Plan, and then presents the revised documents to the Audit & Risk Committee for review and/or approval.  

    In 2022, an external consultant performed an analysis of Nasdaq’s information security procedures, which included a review of program documentation and an overall maturity assessment of Nasdaq’s information security programs. The findings were presented to the Audit & Risk Committee. 

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    Climate-Related Risk

    Nasdaq regularly evaluates climate risks that may affect our products and services, value chain, operations and investments. We perform detailed evaluations focused primarily on the types of risks that are likely to increase direct costs or interrupt our primary business functions. 

    In accordance with Task Force on Climate-related Financial Disclosures (TCFD) recommendations, we examined the resiliency of Nasdaq's current strategy by conducting climate scenario analyses. Using this process, we assessed Nasdaq's exposure to physical and transition climate-related risks and opportunities deemed as having the potential to influence our businesses, strategy, and financial planning. 

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