Dependent: ESG & climate product line growth ~$200M (3% of total revenue) generated from ESG and climate-related offerings in 2023 across Moody's Ratings (SPOs, Net-Zero Assessments, ~120 SPOs delivered globally) and Moody's Analytics (temperature alignment data, GHG database, NGFS macro scenarios, climate-adjusted EDF, carbon transition indicators, physical risk data from RMS acquisition). Climate risk identified as a strategic growth driver.
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Primary: Business travel reduction via internal carbon price $50/tCO2e internal carbon price applied to business travel emissions since 2020 (raised from $15 in 2019). Travel-related emissions are tracked using SBTi Transport Guidance (well-to-wheel). Funds allocated to renewable electricity procurement and offset purchases. Plan to roll out employee awareness campaigns favoring trains over planes and economy over business class.
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Primary: Employee commuting via hybrid work model Hybrid work program permanently reduced commuting emissions. Moody's set a science-based target to reduce Scope 3 emissions from employee commuting, business travel, and fuel-and-energy-related activities by 15% by 2025 from 2019 baseline – achieved in 2023. Car-free week photo contests and sustainable commuting awareness campaigns are ongoing.
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Dependent: Supplier engagement on science-based targets Purchased goods/services + capital goods represent ~75% of Moody's 2023 footprint. Moody's SBTi-validated supplier engagement target requires 60% of suppliers by spend to set SBTs by 2025; reached 54% in 2023 (up from 25% in 2019). Joined CDP Supply Chain program in 2023, hosted webinars for top 500 suppliers, contract amendments now include SBT requirements (11 amended in 2023, raising covered spend to 18%). Sustainability Linked Facility (SLF) ties RCF cost to this target, saving $125,000 in 2023.
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100% renewable electricity achieved (fourth consecutive year) In 2023, Moody's achieved 100% renewable electricity across its entire property portfolio through renewable energy attribute certificates (EACs) and direct utility contracts, for the fourth consecutive year.
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UN Global Compact SDG alignment Moody's is a signatory of the U.N. Global Compact's coalition for the SDGs and supports the U.N. Global Compact's Climate Ambition Accelerator and Business Ambition for 1.5C.
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TNFD member Moody's is a TNFD member and contributes to defining nature-related risk measurements, informing customers about risk exposure and management. Published a TNFD Statement on environmental impacts.
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Restated 2019-2021 Scope 3 cat 1 & 2 baselines 2019, 2020 and 2021 purchased goods and services (Scope 3, Category 1) and capital goods (Scope 3, Category 2) GHG emissions were restated as a result of a change in methodology and access to improved data.
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Limited assurance on Scope 1, 2 and full Scope 3 inventory Third-party verification (limited assurance, ISO14064-3) covers 100% of Scope 1, Scope 2 (location & market), and all material Scope 3 categories including purchased goods/services, capital goods, FERA, waste, business travel, employee commuting and investments.
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Single-use plastics phase-out by 2025 As part of Moody's Environmental Policy, the company committed to phase out single-use plastics from global operations, where possible by 2025.
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