Moody’s is one of the world’s leading credit ratings agencies
Credit ratings giant’s vision includes science-based emissions goals backed by carbon offset investments in immediate term
Moody’s has further expanded its sustainability vision, this week unveiling a range of new climate science-aligned carbon reduction goals to set the credit ratings giant on a path to net zero emissions by mid-century.
The NYC-based firm aims to halve its 2019 operational and power emissions by 2030 and reduce its indirect – or Scope 3 – emissions by 15 per cent by 2025 from the same baseline, having secured approval from the Science Based Targets Initiative earlier this month.
Moody’s chief financial officer Mark Kaye said the latest green goals were a “key business objective” for Moody’s, which employs more than 11,000 people across 40 countries.
“We are proud of the work we’ve done to enhance our environmental sustainability and will continue to expand and enhance our efforts to integrate best practices throughout our business, using science-based targets,” Kaye added.
Moody’s has also committed to encouraging its suppliers to operate more sustainably, with a promise that by 2025, 60 per cent of the companies it relies on for purchased goods, services and capital goods will also have science-based targets in place.
Alongside its efforts to drive absolute emission reductions, Moody’s said it would invest in an extensive carbon offsetting programme. The company is already ‘carbon neutral’ due to offsetting, but by 2040 it plans to have retroactively offset all greenhouse gases emitted by the firm from when if first became a public company in September 2000 up until December 2018.
In addition, Moody’s said it would procure all its electricity from clean sources by the end of 2020, up from around 11 per cent today.