S&P Global (NYSE: SPGI) today announced its support for the principles outlined in the Say on Climate initiative, reinforcing the Company’s existing pledges to support the transition to a global net-zero economy. The initiative is a disclosure-based plan focused on emissions with the goal of advocating for sustainable business practices and corporate climate action plans. It will be presented to shareholders for a vote in S&P Global’s 2021 and 2022 proxy statements.
The Say on Climate initiative is promoted by The Children’s Investment Fund Foundation (UK).
“Say on Climate’s principles complement our belief in the importance of transparency and disclosure as well as the market-leading steps we have taken towards becoming net-zero by 2040,” said Ewout Steenbergen,Executive Vice President and Chief Financial Officer of S&P Global. “We are working collaboratively with organizations in the private, public and nonprofit sectors to ensure that S&P Global meets our science-based targets and emissions reductions goals.”
S&P Global has taken a series of actions to solidify its commitment to corporate sustainability. The firm began publishing an annual disclosure of climate-related risks and opportunities in 2019, adhering to the guidelines endorsed by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). In 2020, the Company was also one of the first U.S.-based firms to introduce a Carbon-Adjusted Earnings Per Share metric, which reflects the cost of carbon emissions relative to profits. The Company will also explore potential emission-reduction opportunities within its real estate portfolio, and through its energy-efficiency and renewable energy initiatives.
Earlier this year, S&P Global’s corporate sustainability goals were validated by the Science Based Targets initiative, a coalition that assesses the soundness of private-sector climate action through a scientific framework. Steenbergen recently joined peers to draft and sign the CFO Net Zero Statement of Support, organized by Accounting for Sustainability (A4S). Steenbergen was a founding member of the East Coast Chapter of the A4S CFO Leadership Network.
Other climate-related commitments include S&P Global’s involvement in UN Climate Change, the United Nations entity charged with advancing progress on climate action, and Business Ambition for 1.5º C, a commitment to limit global temperature rise to 1.5º C above pre-industrial levels.
https://investor.spglobal.com/news-releases/news-details/2021/SP-Global-Affirms-Net-Zero-Commitment-by-Endorsing-Say-on-Climate-Initiative/default.aspx