Sustainability Consulting
Science Based Targets Partner Sustainability
Full Credential Description
Moody’s Corporation, a global integrated risk assessment firm, faced the challenge of significantly reducing its greenhouse gas emissions to align with climate goals. Initially committed to achieving net-zero emissions by 2050, Moody’s accelerated its target to 2040, a decade earlier than planned. This ambitious goal includes a validated science-based target of a 90% reduction in scope 1, 2, and 3 emissions.
To support this transition, Moody’s developed a comprehensive Decarbonization Plan with specific near-term targets: a 50% reduction in absolute scope 1 and 2 GHG emissions by 2030, a 15% reduction in scope 3 emissions from fuel and energy-related activities, business travel, and employee commuting by 2025, and ensuring that 60% of its suppliers by spend have science-based targets by 2025, all based on a 2019 baseline. The company has committed to procuring 100% renewable electricity across its operations and offsetting the remaining emissions from its operations, business travel, and employee commuting.
Moody’s has also integrated climate and ESG capabilities into its business strategy, significantly expanding its climate and net-zero solutions across various products and services. In 2021, the company published its TCFD report, which evaluates climate-related risks and opportunities, adhering to the 11 TCFD recommendations.
To address the challenge of scope 3 emissions, Moody’s actively engaged with its suppliers, earning recognition as the 2021 Supplier Engagement Leader by CDP for the second consecutive year. The company’s Supplier Code of Conduct encourages suppliers to disclose their carbon footprints and establish their own science-based targets. In 2021, Moody’s engaged nearly 500 suppliers and conducted targeted engagement with approximately 75 key suppliers. By the end of 2021, 28% of suppliers by spend had set science-based targets, moving towards the goal of 60% by 2025. This proactive approach not only helps reduce emissions but also contributes to ensuring a sustainable future for the planet.