Moody’s Corporation announced its commitment to achieve net-zero emissions all throughout its operations and value chain by 2040. This advances the corporation’s original target by 10 years. Moody’s is a global integrated risk assessment firm, headquartered in New York City and with a revenue of $417mn, the company has over 11,500 employees in more than 40 countries.
The new and closer commitment date aligns with Moody’s published Decarbonisation Plan and concurs with its recognition as a 2021 Global Compact LEAD company, for its ongoing commitment to the United Nations Global Compact and its Ten Principles for responsible business. Moody’s has shown its continued commitment to advancing sustainability by setting it’s net- zero target ten years forward.
Additionally, Moody’s has set and progressed on validated, interim net zero science-based targets to reduce GHG emissions in its operations and value chain.
Moody’s recent TCFD Report and Stakeholder Sustainability Report demonstrates the progress on these targets, which include:
- 50% reduction of Scope 1 and Scope 2 emissions from its operations by 2030
- 15% reduction in Scope 3 emissions from fuel and energy-related activities, business travel and employee commuting by 2025
- 60% of Moody’s suppliers by spend covering purchased goods and services and capital goods to have science-based targets by 2025
Moody’s climate and other sustainability commitments have contributed to its recognition as a LEAD company by the UN Global Compact. As such, Moody’s has been identified as one of the most engaged participants in the world’s largest corporate sustainability initiative. In addition to its corporate commitments, Moody’s product offerings also include helping market participants evaluate and integrate environmental, social, and governance risk considerations into their capital allocation and long-term resilience planning.
“The global economy is fundamentally realigning due to climate risk, and the transformation will affect us all”, said Rob Fauber, President and Chief Executive Officer of Moody’s Corporation. “Given the urgency of the need to adapt, we are accelerating Moody’s net-zero target, and continue to embed climate risk and sustainability into everything we do.”