Moody’s accelerates its net zero commitments until 2040; Recognized as a United Nations LEAD Global Compact company
NEW YORK, September 20, 2021– (BUSINESS WIRE) – Moody’s Corporation (NYSE: MCO) today announced its commitment to achieve net zero emissions across its operations and value chain by 2040, advancing its original goal of 10 years. The new commitment date aligns with the decarbonization plan published by Moody’s and coincides with its recognition as a 2021 Global Compact LEAD company for its continued commitment to the United Nations Global Compact and its Ten Principles for a Business responsible.
âThe global economy is fundamentally realigning due to climate risk, and the transformation will affect us all,â said Rob Fauber, President and CEO of Moody’s Corporation. “Given the urgency of the need to adapt, we are accelerating Moody’s net zero target and continuing to integrate climate risk and sustainability into everything we do.”
By accelerating its net zero goal, Moody’s is demonstrating its continued commitment to advancing sustainability. In addition to this new ambition, Moody’s has set and made progress on validated intermediate scientific objectives of net zero to reduce greenhouse gas emissions in its operations and its value chain. Progress against these goals can be seen in the recent TCFD report and Moody’s Stakeholder Sustainability Report. These targets include:
Â»50% reduction in Scope 1 and Scope 2 emissions from its operations by 2030;
Â»15% reduction in Scope 3 emissions linked to fuel and energy related activities, business travel and employee home-work travel by 2025; and
Â»60% of Moody’s suppliers in spending covering purchased goods and services and capital goods to achieve science targets by 2025.
Moody’s climate and sustainable development commitments have contributed to its recognition as a LEAD company by the United Nations Global Compact. As a LEAD company, Moody’s has been identified as one of the most committed participants in the world’s largest corporate sustainability initiative. In addition to its corporate commitments, Moody’s product offerings help market participants assess 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 company that empowers organizations to make better decisions. Its data, analytical solutions and knowledge help decision makers identify the 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 more than 11,500 employees in more than 40 countries, Moody’s combines an international presence with local expertise and over a century of experience in the 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 press release are forward-looking statements and are based on future expectations, plans and prospects for the business and operations of Moody’s Corporation (the âCompanyâ) which involve a number of risks and uncertainties. Such statements may include, among others, “believe”, “expect”, “anticipate”, “intend”, “plan”, “” will “,” foresee “,” continue) will fly aspire “,” target “,” predict “,” project “,” estimate “,” should “,” could “,” could “and similar expressions or words and their variations which reflect the prospective nature of events or results generally indicative of forward-looking statements. Shareholders and investors are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements and other information contained in this press release are made as of the date hereof and the Company assumes no obligation (and does not intend) to publicly supplement, update or revise these statements in the future, whether as a result of subsequent developments, modified tents or otherwise, except as required by applicable law or regulation. Within the framework of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company identifies examples of factors, risks and uncertainties which could cause actual results to differ, possibly substantially, from those indicated by these forward-looking statements. . These factors, risks and uncertainties include, but are not limited to, the impact of COVID-19 on the volatility of the US and global financial markets, on general economic conditions and GDP in the United States and around the world, and on the operations and personnel of the Company. . Many other factors could cause actual results to differ from Moody’s outlook, including credit market disruptions or economic downturns, which could affect the volume of debt and other securities issued in domestic capital markets and / or global; other matters that could affect the volume of debt and other securities issued in national and / or global capital markets, including regulations, credit quality issues, changes in interest rates and ‘other volatilities in financial markets such as that due to Brexit and uncertainty as companies abandon LIBOR; the level of merger and acquisition activity in the United States and abroad; the uncertain effectiveness and possible collateral consequences of US and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; market concerns affecting our credibility or otherwise affecting market perceptions of the integrity or usefulness of independent credit rating agency ratings; the introduction of competing products or technologies by other companies; price 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 US, state and local laws and regulations; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation relating to Moody’s Investors Service rating opinions, as well as any other litigation, governmental and regulatory proceedings, inquiries and inquiries to which the Company may be subject from time to time; US law amending advocacy standards and EU regulations amending the liability standards applicable to credit rating agencies in a manner unfavorable to credit rating agencies; provisions in EU regulations imposing additional procedural and substantive requirements on the pricing of services and expanding the supervisory mandate to include non-European ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerability to cyberthreats or other cybersecurity issues; the outcome of any review by regulatory tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal penalties or civil remedies if the Company fails to comply with applicable foreign and US laws and regulations in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws and laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the Company’s ability to successfully integrate these acquired businesses; currency and exchange volatility; the level of future cash flows; levels of capital investment; and a decrease in 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 envisaged, expressed, projected, anticipated or implied in the forward-looking statements are currently, or could be, in the future. future, magnified by the COVID-19 outbreak, and are described in more detail under âRisk Factorsâ in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended. December 31, 2020 and in other documents filed by the Company from time to time with the SEC or in documents incorporated or incorporated therein. Shareholders and investors are warned that the occurrence of any of these factors, risks and uncertainties may cause the actual results of the Company to differ materially from those envisaged, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and unfavorable impact on the business, results of operations and financial condition of the Company. 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 factor on it.
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