Moody’s Joins the Taskforce on Nature-related Financial Disclosures (TNFD), will Help Develop Reporting Framework
September 30 2021 - 1:05AM
Business Wire
Moody’s Corporation (NYSE: MCO) today announced that it has
joined the Taskforce on Nature-related Financial Disclosures
(TNFD), a new industry-led initiative working to significantly
shift global financial flows from nature-negative to
nature-positive outcomes. As a member of the TNFD, Moody’s will
join leading organizations across key sectors and geographies to
develop a reporting framework and act on evolving nature-related
risks.
“At its core, Moody’s role is to help others better understand,
measure, and manage risk. As our own research has identified,
biodiversity and nature-related risks are impacting corporate
performance and are increasingly important considerations in
building a more sustainable future,” said Rob Fauber, President and
Chief Executive Officer of Moody’s Corporation. “We are thrilled to
contribute to the TNFD’s efforts as organizations increasingly seek
to make better decisions and unlock opportunities across their
value chains.”
Research from across Moody’s has found that biodiversity and
nature-related risks pose a significant threat to a wide range of
industries and sectors. A Moody’s Investors Service report found
that 12 sectors with $2.1 trillion in combined debt, including all
extractive industries, face high or very high natural capital risk.
In addition, a Moody’s ESG Solutions study found that 38% of large
publicly traded companies have at least one facility associated
with habitat loss, based on a sample of 5,300 corporations.
Currently, financial institutions and companies do not have
complete information to help them understand how nature-related
risks impact long- and short-term financial performance. The TNFD
will assist financial institutions and companies with incorporating
nature-related risks and opportunities into their strategic
planning, risk management and asset allocation decisions. In the
coming years, Moody’s will work with TNFD members to develop a
practical framework for nature-related risks and a set of reporting
guidelines.
The announcement builds on Moody’s participation in the Task
Force on Climate-related Financial Disclosures (TCFD), which has
established and normalized a framework for reporting financial
risks related to climate change. It also follows Moody’s role as a
founding member of the Net Zero Financial Services Provider
Alliance, which is part of the Glasgow Financial Alliance for Net
Zero. Moody’s has also committed to achieve net-zero emissions
across its operations and value chain by 2040, bringing its
original target forward by 10 years. In addition, Moody’s has set
and progressed on validated, interim net-zero science-based
targets. Progress on these targets can be viewed in Moody’s recent
TCFD Report and Stakeholder Sustainability Report. Additional
information about Moody’s climate efforts is available on its
Climate Hub.
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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SHIVANI KAK Investor Relations 212.553.0298
Shivani.Kak@moodys.com JULIAN KNAPP Corporate Communications
+44.207.772.1967 Julian.Knapp@moodys.com
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