NEW YORK, Aug. 31, 2020 /PRNewswire/ -- As part of its commitment to a more sustainable future, S&P Global (NYSE: SPGI) released its 2019 Environmental, Social and Governance (ESG) Report, highlighting significant sustainability-related accomplishments and targets for employees, stakeholders and communities. In addition, the Company released its second report outlining climate-related risks and opportunities, following the recommendations of the Financial Stability Board's Task Force on Climate-Related Disclosures (TCFD).
"At S&P Global, we are committed to driving ESG efforts, both through our own sustainability practices and by providing the essential insights customers need to make informed decisions," said Ewout Steenbergen, Chief Financial Officer, S&P Global. "Providing critical transparency around ESG governance, risks, and metrics will help us drive positive change in behaviors and outcomes, build our resiliency and ultimately have a lasting impact on the world."
Annual ESG Report Captures Sustainable Milestones
S&P Global's annual ESG report details the proactive steps the Company took in 2019 to accelerate ESG progress in its own business practices and in the capital markets.
"The purpose of a corporation is more important in 2020 than at any time in history, and at S&P Global, we're committed to accelerating progress in the world," said Annette O'Hanlon, Chief Corporate Responsibility & Diversity Officer for S&P Global. "We are proud that our priorities, programs, partnerships and investments support a better and more sustainable future for all. We are excited to share the efforts we took in 2019 to support inclusive, sustainable economies in our communities."
In 2019, S&P Global drove key ESG accomplishments including:
- Offsetting close to 99,000 tons of greenhouse gas emissions (GHGs) since 2017, by supporting low carbon solutions in countries where it has major operations
- Contributing more than $7M to charitable causes through both the S&P Global Foundation and employee giving, an increase of 104% over the previous year
- Expanding volunteer efforts and introducing five "Give Back Days" (40 hours) of paid time off per year for employees to engage in volunteering
S&P Global is also a leading provider of data, analysis, tools and research that help companies and investors evaluate and improve their corporate sustainability performance. In 2019, the Company enhanced the vital ESG intelligence it provides by:
- Acquiring RobecoSAM's ESG Ratings Business, which publishes the prominent SAM Corporate Sustainability Assessment
- Expanding climate solutions from Trucost, part of S&P Global, to include analytics for TCFD reporting, enabling entities to stress test resilience to physical and transitional climate risks
- Releasing extensive research that builds on the successful launch of the #ChangePays campaign, which demonstrates the value of women's labor participation for the global economy, specifically in the energy sector and women in leadership
The full 2019 ESG Report can be found here.
Second Climate Disclosure Report Outlines Sustainable Path Forward
S&P Global also released its second report outlining climate-related risks and opportunities, following the recommendations of the Financial Stability Board's Task Force on Climate-Related Disclosures (TCFD).
Current climate-related risks remain low in the short- to mid-term with the potential to increase long-term, and S&P Global has already begun aligning its strategy to mitigate those risks. Since its inaugural report, S&P Global has:
- Appointed its first Global Head of ESG, overseeing ESG strategy, product development and market outreach, and leading a centralized team that coordinates ESG across business divisions
- Quickened the pace and volume of investment in environmental and climate-related products in response to corporate and governmental demand for actionable climate related data and insights
- Launched a Net Zero Working Group to explore setting a net zero carbon emissions target that would further minimize S&P Global's environmental footprint
Going forward, the Company intends to:
- Continue taking measurable actions in identified areas of climate-related risk and opportunity, and develop products helping clients make informed decisions on climate-related issues
- Drive efforts to both rethink and improve its operating model to neutralize its impact on climate change while providing tools to help our stakeholders minimize their environmental impact
- Strive to raise the bar by setting bold goals to be part of the solution to slow, and possibly reverse, the effects of climate change
To read the full report, please visit the S&P Global website.
About S&P Global
S&P Global (NYSE: SPGI) is the world's foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical economic, market and business factors. We've been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. Our divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. For more information, visit www.spglobal.com.
SOURCE S&P Global