Moody's Sustainability Performance Highlights
Moody’s Corporation has released its 2022 Stakeholder Sustainability and Task Force on Climate-related Financial Disclosures (TCFD) reports, which highlight Moody’s commitment to sustainable business practices, progress towards its decarbonisation plan and long-term net-zero targets, and updates on its comprehensive suite of sustainability-related products and solutions.
Christine Elliott, Chief Global Corporate Affairs Officer at Moody’s, stated, "Our stakeholders look to Moody’s to help empower transparent and efficient markets. 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 provide details on milestones and achievements across the three pillars of Moody’s sustainability strategy:
Moody’s was one of the first companies to have its near- and longer-term net-zero climate targets validated by the Science Based Targets Initiative. Furthermore, 49% of Moody’s suppliers by spend set science-based targets in 2022, up from 28% in 2021. The company also integrated sustainability-related performance metrics to determine cash incentive payments for all senior executives, launched a cybersecurity education programme 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 prioritising 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 programme, Moody’s joined the White House’s Economic Opportunity Coalition and made additional treasury deposits in Black-owned banks. Additionally, Moody’s employees contributed over 14,000 volunteer hours towards local initiatives.
Moody’s made significant progress in 2022 towards helping market participants understand and address ESG and climate-related risks while identifying growth opportunities. The company launched its ESG Insurance Underwriting Solution for commercial property and casualty insurers and expanded its Credit Impact Scores to cover over 10,000 governments, financial institutions, and corporations globally.
For more information on Moody’s sustainability efforts, please visit https://sustainability.moodys.io/.
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