Reporting means that S&P Global will be better positioned to actively mitigate climate-relate risks and harness opportunities
NEW YORK, May 8, 2019 /PRNewswire/ -- S&P Global (SPGI) announced today the release of the company's first climate disclosure report in accordance with the recommendations of the Financial Stability Board's Task Force on Climate-related Financial Disclosures (TCFD). The report reflects the support of S&P Global for the recommendations set forth by the TCFD and represents an important step in examining and quantifying the climate-related risks and opportunities for the Company.
"The transition to a low carbon economy is vital for a sustainable future," said Ewout Steenbergen, Chief Financial Officer, S&P Global. "We take our responsibility as advocates for efficient and stable markets seriously and in order to make progress, it is necessary that we understand the material financial implications of climate change on businesses and investments. Our inaugural TCFD report is an important step on our journey to strengthen strategic decision making with long term, resilient operations in mind."
Our analysis for the report was informed by Trucost ESG Analysis, part of S&P Global. We assessed four aspects of the business from the lens of climate-related risks and opportunities: Governance, Strategy, Risk Management, and Metrics & Targets. The conclusions were:
- Current climate-related risks are low in the short- to mid-term, but could increase in the long-term.
- Current climate-related opportunities from products are available in the short- to mid-term, and benefits could increase significantly in the long-term.
- S&P Global has already begun aligning its strategy to support mitigation of climate-related risks and realize future opportunities.
- The Company plans to refine the data it uses to define next steps in its TCFD analysis.
Since the initial assessment in March 2019, S&P Global's Chief Financial Officer has launched a taskforce to support the ongoing monitoring of company-wide climate-related risks and take responsibility for driving revenue growth on climate-related products and services.
The Company is committed to ongoing monitoring, analysis and quantification of material climate-related risks and opportunities.
To read the full report please visit: https://www.spglobal.com/en/who-we-are/corporate-responsibility/sp-global-tcfd-report-may-2019.pdf
About S&P Global
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. The Company's divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 20,000 employees in 31 countries. For more information visit www.spglobal.com.