Friday 5 February 2021

S&P Global aims to become net zero by 2040

S&P Global, a provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, has set out ambitious targets to reduce greenhouse gas emissions and become net zero by 2040.

It has committed to a 25% reduction in emissions by 2025, using 2019 as a base year, with the target validated by the Science-Based Targets initiative (SBTi), a partnership between CDP, UN Global Compact, World Resources Institute and the World Wide Fund for Nature that drives climate action.

The company also aims to reduce Scope 1 and 2 emissions consistent with reductions required to keep warming to 1.5°C.

S&P Global became one of the first companies to introduce a Carbon Adjusted Earnings Per Share metric into its financial reporting, which is based on the theoretical cost per share, providing greater transparency into the cost of carbon emissions from company operates and integrating climate change considerations in the decision-making process.

Ewout Steenbergen, Executive Vice President and Chief Financial Officer for S&P Global said: “Global firms play a significant role in addressing the environmental challenges that affect us all and at S&P Global, we embrace this responsibility.

“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.”