Thrivent, a fraternal benefit society with over 120 years of history, is dedicated to empowering lives through service and faith, particularly within the Lutheran community and broader Christian demographic in the United States. Although its sustainability journey has only recently begun, Thrivent has been steadily building a foundation to drive tangible results that benefit its clients, employees, and the communities it serves.
The company’s sustainability initiatives are deeply rooted in its core values of empathy, impact, authenticity, gratitude, and commitment. Impact is a central focus, reflecting Thrivent’s mission to generate meaningful and positive outcomes. Thrivent’s history as a mutual aid organisation has always emphasised community support and disaster response, as evidenced by its founding response to a local catastrophe in the 1800s.
In the contemporary context, Thrivent is navigating a complex regulatory landscape in the United States, characterised by a polarised political environment and varying state and federal requirements related to ESG (Environmental, Social, and Governance) standards. Despite these challenges, Thrivent remains committed to being good stewards of its resources, prioritising a thoughtful approach to developing its ESG strategy. This includes fulfilling regulatory filing requirements, such as the NAIC Climate Disclosure survey, and enhancing corporate governance practices through detailed annual disclosures.
Thrivent has adopted a transformation strategy centred around three key pillars: driving impact, delivering value to clients, and growing sales. This transformation is supported by a “growth playbook,” which provides a structured framework for achieving greater focus and prioritisation across the organisation. The aim is to integrate ESG considerations into all aspects of the business rather than treating them as a standalone strategy.
Key initiatives within this framework include launching ESG-focused investment products, such as an ESG ETF and an ESG index, and developing impact-managed portfolios. These financial products align with Thrivent’s commitment to sustainable investing and offer clients opportunities to invest in line with their values. Additionally, Thrivent has taken significant steps to reduce its environmental footprint, such as relocating its corporate headquarters in Minneapolis to a smaller, more efficient building, supporting a hybrid working environment and reducing resource consumption.
Thrivent has been particularly successful in engaging its clients in volunteer activities through programmes like Thrive in Action Teams. These teams enable clients to lead community service projects, thereby amplifying the impact of individual efforts. In 2023 alone, Thrivent clients led over 157,000 action teams, involving approximately 2.5 million people and generating 14 million hours of volunteer time. Over the past decade, this programme has facilitated around a million action teams and raised nearly a billion dollars for community projects.
Financial education is another cornerstone of Thrivent’s sustainability efforts. The organisation offers a range of programmes to help clients and the general public achieve financial wellness. These programmes aim to improve financial literacy and stability within communities. Additionally, gender equality and diversity are integral to Thrivent’s sustainability strategy. The organisation prides itself on a diverse workforce and board of directors, ensuring representation across religious affiliation, race, ethnicity, and geography.
Thrivent continues to refine its approach to sustainability through regular materiality assessments, engaging various stakeholders to understand their priorities and expectations. Recent assessments have highlighted business ethics, data privacy, and human capital as top concerns. Thrivent uses these insights to guide its sustainability initiatives and ensure they align with stakeholder values.
