S&P Global has announced ambitious targets to reduce its greenhouse gas (GHG) emissions with the goal of countering the adverse effects of climate change, supporting a net-zero economy and publicly reinforcing its commitment to sustainable corporate citizenship.
The Company committed to a 25% reduction in emissions by 2025 using 2019 as a base year. These targets were recently validated by the Science Based Targets initiative (SBTi), a partnership between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) that drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. Through actions taken to achieve these planned emissions reductions, S&P Global aims to be net-zero by 2040.
“Global firms play a significant role in addressing the environmental challenges that affect us all, and at S&P Global, we embrace this responsibility,” said Ewout Steenbergen, Executive Vice President and Chief Financial Officer for S&P Global. “We are proud that the SBTi validated our goals and see them as a step forward in S&P Global’s sustainability journey, building on our long history of transparency and disclosure – including our early support for the Task Force on Climate-related Financial Disclosures.”
Highlights of S&P Global’s commitments include:
A 25% reduction in emissions by 2025 from a 2019 base year, including both absolute scope 1 and 2 emissions from operations as well as absolute scope 3 emissions from business travel.
A target covering scope 1 and 2 emissions that is consistent with reductions required to keep warming to 1.5°C, the most ambitious scenario available in the SBTi process.
S&P Global also continues to lead in its commitment to proactive and transparent disclosure, and in its 2020 TCFD report, became one of the first companies to introduce a Carbon Adjusted Earnings Per Share metric into its financial reporting. The measure – calculated based on the theoretical cost per share of the tons of CO2 in each period subtracted from regular earnings per share – provides greater transparency into the cost of carbon emissions from company operations and integrates climate change considerations in the decision-making process.
Steenbergen recently signed the CFO Net Zero Statement of Support organized by Accounting for Sustainability (A4S), where he joined other global financial leaders in committing to continued emissions reductions in support of the transition to a net-zero emissions economy. He serves as a founding member of the East Coast Chapter of the A4S CFO Leadership Network.
Further demonstrating the Company’s focus on climate action, S&P Global is a proud sponsor of UN Climate Change to support and advance work for global climate action, particularly through upcoming events such as COP26 (the 26th UN Climate Change Conference).
The Company has also signed on to the Business Ambition for 1.5º C, reiterating its commitment to work toward a 1.5º C scenario on the road to a zero-emissions economy.
“Climate stewardship is a key focus of our broader sustainability efforts,” said Annette O’Hanlon, Chief Corporate Responsibility & Diversity Officer for S&P Global. “Through our work with UN Climate Change, as well as our support for Business Ambition for 1.5º C, we are contributing to tangible progress in bringing about a more sustainable future.”
To read S&P Global’s latest Environmental, Social and Governance (ESG) Report and learn more about the Company’s work to promote sustainability, visit the S&P Global website.