NEW YORK, May 27, 2021 /PRNewswire/ -- S&P Global (NYSE: SPGI) today published its 2020 Impact Report, highlighting key milestones as part of its continued commitment to corporate sustainability and a focus on ESG factors. In addition, the Company published its third Task Force on Climate-related Financial Disclosures (TCFD) report this week, demonstrating solid risk preparedness in the sustainability space.
"This year's reports are a testament to our continued focus on proactive disclosure and our commitment to do our part to promote a sustainable environment," said Ewout Steenbergen, Chief Financial Officer for S&P Global. "Through our own actions and the data, insights and resources we provide to the market, we are proud to accelerate the transition to a net-zero economy."
Impact Report Showcases 2020 Progress
The Impact Report, formerly known as the Environmental, Social and Governance (ESG) Report, was renamed to better reflect the way the Company relates to and impacts the broader markets as well as its commitment to share this knowledge.
"The progress captured in our Impact Report reflects our commitment to drive positive change for our people, customers and communities, both now and in the future," said Annette O'Hanlon, Chief Corporate Responsibility & Diversity Officer for S&P Global. "We are a purpose-led company and take seriously our responsibility as a global citizen, including our commitment to continued transparency in management of our own sustainability progress."
The 2020 report is grounded in a new materiality assessment that helped identify eight priority topics and six responsible business imperatives critical to S&P Global stakeholders, and ultimately to business success. Together, these areas will drive the Company's sustainability strategy, priorities, targets, reporting and allocation of resources moving forward. In line with assessment findings, S&P Global added Biodiversity & Natural Capital and Innovation & Technology as new topics covered in this year's report.
The Company crafted this year's report in accordance with both the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board (SASB) Standard for Professional & Commercial Services. In addition, for the first time this year, reporting aligns with the World Economic Forum Stakeholder Value Framework, which assesses an entity's response against four key pillars: principles of governance, planet, people and prosperity.
Despite an unprecedented year, S&P Global accelerated its efforts in several key areas of impact:
- Affirmed its commitment to be net-zero by 2040 and reduce its emissions 25% by 2025, goals which have been validated by the Science-Based Targets initiative.
- Included more comprehensive workforce demographics. Talent attraction and retention initiatives remain a global priority this year as part of the Company's commitment to fostering an inclusive workplace.
- Expanded support for communities in need through the S&P Global Foundation. Grantmaking increased by 170 percent, as the Foundation widened its reach to 128 nonprofit partners in 24 countries.
2021 TCFD Report Latest in Continued Proactive Disclosures
Also this week, S&P Global published its third annual TCFD report in line with the recommendations of the Financial Stability Board. This year's disclosures once again showcase progress in governance, strategy, risk management, and metrics and targets, assessing the Company's efforts to address climate-related risks and opportunities.
The 2021 report reflects both the growing focus on climate-related issues in the investor community and the corresponding acceleration of S&P Global's efforts to further sustainability work. The Company's commitment to achieve net-zero by 2040 will ensure continued momentum on strides taken since the inaugural report, and will be critical to counteract potential long-term risk in the climate space.
Learn more about S&P Global's work to further corporate responsibility and sustainability on its 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