Moody’s Corporation (NYSE:MCO) has published its 2022 Stakeholder Sustainability and Task Force on Climate-related Financial Disclosures (TCFD) reports, which highlight Moody’s sustainable business practices, track the progress of its decarbonization plan and long-term net-zero targets, and provide updates on its comprehensive suite of sustainability-related products and solutions.
“Our stakeholders look to Moody’s to help empower transparent and efficient markets,” said Christine Elliott, Chief Global Corporate Affairs Officer at Moody’s. “At the same time, we seek to embed key initiatives into our own corporate practices, and we’re excited to share the most recent developments of our journey toward a more sustainable future.”
The reports outline milestones and achievements across the three pillars of Moody’s sustainability strategy:
Last year, Moody’s became one of the first companies to have its near- and longer-term net-zero climate targets validated by the Science Based Targets Initiative. Additionally, 49% of Moody’s suppliers by spend set science-based targets, up from 28% in 2021. Moody’s also further integrated sustainability-related performance metrics to determine cash incentive payments for all senior executives, launched a cybersecurity education program for employees, and aligned its tax practices with its sustainability framework.
Moody’s continued to foster an inclusive culture in its workplaces and communities by placing an emphasis on wellness and empowerment. In February 2022, Moody’s launched Moody’s University, an expanded learning and development platform for employees. Through its Creating Opportunities for Racial Equity program, Moody’s joined the White House’s Economic Opportunity Coalition and made additional treasury deposits in Black-owned banks. Furthermore, Moody’s employees contributed over 14,000 volunteer hours toward local initiatives.
Moody’s made additional strides in 2022 toward helping market participants decode ESG and climate-related risks and identify growth opportunities. The company launched its ESG Insurance Underwriting Solution for commercial property and casualty insurers, and also expanded its Credit Impact Scores to cover over 10,000 governments, financial institutions, and corporations globally.
For more information on Moody’s sustainability efforts, visit https://sustainability.moodys.io/
Source: Moody’s Press Release