Moody's Strengthens its Sustainability Commitments in New Reports

Moody's Corporation, the global financial services company, has recently released a new report highlighting its sustainability commitments. The 2021 Stakeholder Sustainability and Task Force on Climate-related Financial Disclosures (TCFD) reports showcase the full breadth of work being done to establish a Better Business, support Better Lives, and deliver Better Solutions.

Moody's leadership in the fight against climate change is shown in the TCFD report, which explains how the company has made progress on its decarbonisation plan and how it improved its physical and transition risk analysis. The company also helps market participants deal with climate-related risks and opportunities through its wide range of products and services.

Moody's incorporates sustainability into all aspects of its business. With a 92 per cent reduction in absolute Scope 1 and 2 GHG emissions and a 95 per cent reduction in Scope 3 GHG emissions from a 2019 baseline, the company exceeded its near-term GHG reduction targets and made significant progress toward supplier involvement.

Moody's is one of the first corporations to have its near-and long-term net-zero targets confirmed by the Science-Based Targets initiative. It announced its net-zero validated target of 90 per cent emissions reductions in Scope 1, 2, and 3 emissions by 2040 (SBTi).

Moody's aims to provide a welcoming and supportive environment where every employee may succeed and provide communities with resources to help them prosper.

Moody's University, a framework for professional and personal employee learning, upskilling, and development was established in 2021, and the firm switched to a single performance management strategy, Grow, Perform, Succeed (GPS).

More than $6 million in charitable gifts were made through the Moody's Foundation and employee-driven philanthropy efforts, while the company's employees volunteered over 11,000 hours in their communities.

Moody's aims to hasten market transition and foster long-term economic growth. The company introduced many new solutions in 2021 that provide more transparency into ESG-related issues and help customers identify possibilities.

Furthermore, Moody's Investors Service (MIS) has updated its ESG Issuer Profile and Credit Impact Scores to provide more transparency into how ESG factors are factored into credit ratings. To strengthen its climate and catastrophe risk modelling and analytics capabilities, the company also purchased RMS, a market-leading firm.

TCFD, SASB, GRI, and WEF are among the other annual reports included in Moody's 2021 Stakeholder Sustainability Report.

Source: Moody's