Moody’s Accelerates Net-Zero Commitments to 2040; Recognized as a UN Global Compact LEAD Company
September 20 2021 - 07:30AM
Business Wire
Moody’s Corporation (NYSE: MCO) today announced its commitment
to achieve net-zero emissions across its operations and value chain
by 2040, bringing its original target forward by 10 years. The new
commitment date aligns with Moody’s published Decarbonization Plan
and coincides 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.
“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.”
By accelerating its net-zero target, Moody’s demonstrates its
continued commitment to advancing sustainability. In addition to
this new ambition, Moody’s set and progressed on validated, interim
net-zero science-based targets to reduce greenhouse gas emissions
in its operations and value chain. Progress on these targets can be
viewed in Moody’s recent TCFD Report and Stakeholder Sustainability
Report. These targets 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; and » 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 a LEAD company, 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 help market participants
evaluate and integrate environmental, social, and governance risk
considerations into their capital allocation and long-term
resilience planning.
Learn more about Moody’s climate efforts and recognition on its
Sustainability site.
ABOUT MOODY’S CORPORATION
Moody’s (NYSE: MCO) is a global integrated risk assessment firm
that empowers organizations to make better decisions. Its data,
analytical solutions and insights help decision-makers identify
opportunities and manage the risks of doing business with others.
We believe that greater transparency, more informed decisions, and
fair access to information open the door to shared progress. With
over 11,500 employees in more than 40 countries, Moody’s combines
international presence with local expertise and over a century of
experience in financial markets. Learn more at
moodys.com/about.
“SAFE HARBOR” STATEMENT UNDER THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements contained in this release are forward-looking
statements and are based on future expectations, plans and
prospects for the business and operations of Moody’s Corporation
(the “Company”) that involve a number of risks and uncertainties.
Such statements may include, among other words, “believe,”
“expect,” “anticipate,” “intend,” “plan,” “will,” “predict,”
“potential,” “continue,” “strategy,” “aspire,” “target,”
“forecast,” “project,” “estimate,” “should,” “could,” “may” and
similar expressions or words and variations thereof that convey the
prospective nature of events or outcomes generally indicative of
forward-looking statements. Stockholders and investors are
cautioned not to place undue reliance on these forward-looking
statements. The forward-looking statements and other information in
this release are made as of the date hereof and the Company
undertakes no obligation (nor does it intend) to publicly
supplement, update or revise such statements on a going-forward
basis, whether as a result of subsequent developments, changed
expectations or otherwise, except as required by applicable law or
regulation. In connection with the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995, the Company is
identifying examples of factors, risks and uncertainties that could
cause actual results to differ, perhaps materially, from those
indicated by these forward-looking statements. Those factors, risks
and uncertainties include, but are not limited to, the impact of
COVID-19 on volatility in the U.S. and world financial markets, on
general economic conditions and GDP in the U.S. and worldwide, and
on the Company’s own operations and personnel. Many other factors
could cause actual results to differ from Moody’s outlook,
including credit market disruptions or economic slowdowns, which
could affect the volume of debt and other securities issued in
domestic and/or global capital markets; other matters that could
affect the volume of debt and other securities issued in domestic
and/or global capital markets, including regulation, credit quality
concerns, changes in interest rates and other volatility in the
financial markets such as that due to Brexit and uncertainty as
companies transition away from LIBOR; the level of merger and
acquisition activity in the U.S. and abroad; the uncertain
effectiveness and possible collateral consequences of U.S. and
foreign government actions affecting credit markets, international
trade and economic policy, including those related to tariffs, tax
agreements and trade barriers; concerns in the marketplace
affecting our credibility or otherwise affecting market perceptions
of the integrity or utility of independent credit agency ratings;
the introduction of competing products or technologies by other
companies; pricing pressure from competitors and/or customers; the
level of success of new product development and global expansion;
the impact of regulation as an NRSRO, the potential for new U.S.,
state and local legislation and regulations; the potential for
increased competition and regulation in the EU and other foreign
jurisdictions; exposure to litigation related to Moody’s Investors
Service’s rating opinions, as well as any other litigation,
government and regulatory proceedings, investigations and inquiries
to which the Company may be subject from time to time; U.S.
legislation modifying the pleading standards and EU regulations
modifying the liability standards applicable to credit rating
agencies in a manner adverse to credit rating agencies; provisions
of EU regulations imposing additional procedural and substantive
requirements on the pricing of services and the expansion of
supervisory remit to include non-EU ratings used for regulatory
purposes; the possible loss of key employees; failures or
malfunctions of our operations and infrastructure; any
vulnerabilities to cyber threats or other cybersecurity concerns;
the outcome of any review by controlling tax authorities of the
Company’s global tax planning initiatives; exposure to potential
criminal sanctions or civil remedies if the Company fails to comply
with foreign and U.S. laws and regulations that are applicable in
the jurisdictions in which the Company operates, including data
protection and privacy laws, sanctions laws, anti-corruption laws,
and local laws prohibiting corrupt payments to government
officials; the impact of mergers, acquisitions or other business
combinations and the ability of the Company to successfully
integrate such acquired businesses; currency and foreign exchange
volatility; the level of future cash flows; the levels of capital
investments; and a decline in the demand for credit risk management
tools by financial institutions. These factors, risks and
uncertainties as well as other risks and uncertainties that could
cause Moody’s actual results to differ materially from those
contemplated, expressed, projected, anticipated or implied in the
forward-looking statements are currently, or in the future could
be, amplified by the COVID-19 outbreak, and are described in
greater detail under “Risk Factors” in Part I, Item 1A of the
Company’s annual report on Form 10-K for the year ended December
31, 2020 and in other filings made by the Company from time to time
with the SEC or in materials incorporated herein or therein.
Stockholders and investors are cautioned that the occurrence of any
of these factors, risks and uncertainties may cause the Company’s
actual results to differ materially from those contemplated,
expressed, projected, anticipated or implied in the forward-looking
statements, which could have a material and adverse effect on the
Company’s business, results of operations and financial condition.
New factors may emerge from time to time, and it is not possible
for the Company to predict new factors, nor can the Company assess
the potential effect of any new factors on it.
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version on businesswire.com: https://www.businesswire.com/news/home/20210920005282/en/
SHIVANI KAK Investor Relations 212.553.0298
Shivani.Kak@moodys.com
MICHAEL ADLER Corporate Communications 212.553.4667
Michael.Adler@moodys.com
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