Moody’s Announces Participation in New GFANZ Alliance: Commits to Align Products and Services to Achieve Net-Zero Greenhouse Gas Emissions by 2050
Moody’s Corporation (NYSE: MCO) today announced its participation in launching the Net Zero Financial Services Provider Alliance as part of the Glasgow Financial Alliance for Net Zero (GFANZ). As a founding member, Moody’s commits to align all of its relevant products and services to achieve net-zero greenhouse gas emissions by 2050, in addition to reducing its own operational emissions.
“Climate change is the world’s greatest risk multiplier and a profound challenge for economies and communities alike. The entire financial industry must take on the shared challenge of enabling an urgent shift to a resilient and sustainable economy. Aligning products and services with net-zero by 2050 will improve decision-making and accelerate the flow of capital to support the transition,” said Rob Fauber, President and Chief Executive Officer of Moody’s Corporation. “We are delighted to join the Net Zero Financial Services Provider Alliance as our latest step to empower organizations in making more sustainable decisions.”
Moody’s aims to accelerate the flow of capital to support the transition to net-zero by providing financial institutions and other decision-makers with net-zero-aligned data, products, and services to identify climate risks and investments in emerging opportunities.
The company’s products help market participants evaluate and integrate environmental, social, and governance (ESG) risks into capital allocation and long-term planning by:
- Quantifying the effects of ESG on credit ratings and integrating ESG factors into creditworthiness assessments;
- Understanding and measuring ESG performance, exposure to climate and environmental risk, and strengthening and financing sustainable transition plans; and
- Evaluating and managing ESG risks through scenario analysis, quantitative modelling, and stress testing.
Moody’s joins the Alliance alongside leading investment advisors, auditors, exchanges, index providers, ESG research and data suppliers, and proxy researchers.
The announcement extends Moody’s efforts to cut emissions and tackle the growing climate crisis, and follows Moody’s commitment to achieve net-zero emissions across its operations and value chain by 2040, bringing its original target forward by 10 years. Moody’s has also set and progressed on validated, interim net-zero science-based targets. Progress on these targets can be viewed in Moody’s recent TCFD Report and Stakeholder Sustainability Report.
Learn more about Moody’s climate efforts on its Climate Hub.
ABOUT MOODY’S CORPORATION
Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With over 11,500 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for the business and operations of Moody’s Corporation (the “Company”) that involve a number of risks and uncertainties. Such statements may include, among other words, “believe”, “expect”, “anticipate”, “intend”, “plan”, “will”, “predict”, “potential”, “continue”, “strategy”, “aspire”, “target”, “forecast”, “project”, “estimate”, “should”, “could”, “may” and similar expressions or words and variations thereof that convey the prospective nature of events or outcomes generally indicative of forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this release are made as of the date hereof and the Company undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying examples of factors, risks and uncertainties that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, the impact of COVID-19 on volatility in the U.S. and world financial markets, on general economic conditions and GDP in the U.S. and worldwide, and on the Company’s own operations and personnel. Many other factors could cause actual results to differ from Moody’s outlook, including credit market disruptions or economic slowdowns, which could affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, credit quality concerns, changes in interest rates and other volatility in the financial markets such as that due to Brexit and uncertainty as companies transition away from LIBOR; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to Moody’s Investors Service’s rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which the Company may be subject from time to time; U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if the Company fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the ability of the Company to successfully integrate such acquired businesses; currency and foreign exchange volatility; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are currently, or in the future could be, amplified by the COVID-19 outbreak, and are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2020 and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SES-17 Successfully Launched on Ariane 524.10.2021 07:08:00 EEST | Press release
SES announced today that the SES-17 satellite was successfully launched into space onboard an Ariane 5 launcher operated by Arianespace from the Europe’s Spaceport in Kourou, French Guiana at 11:10 pm local time (02:10 am UTC). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211023005019/en/ SES-17 Successfully Launched on Ariane 5 (Photo: Business Wire) The multi-mission Ka-band satellite will provide comprehensive coverage across the Americas, the Caribbean and the Atlantic Ocean. From its orbital slot of 67.1 degrees West orbital slot, the very high throughput geostationary (GEO) satellite incorporating cutting-edge technologies is set to deliver the best connectivity experience for SES customers operating in the aeronautical, maritime, enterprise, and government markets. Built by Thales Alenia Space, SES-17 marks an important milestone in satellite technology as the first Ka-band geostationary satellite to embark a fully
Peru Holds a Ribbon Cutting Ceremony at Its Pavilion at Dubai Expo and Wins 4 World Travel Awards22.10.2021 20:15:00 EEST | Press release
The Dubai World Expo took place in an electrifying musical atmosphere where thousands of attendees were captivated by the variety of artistic, musical and cultural expressions that characterize the different regions of Peru. All this was part of the inauguration of the Peru Pavilion at the most important cultural event in the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211022005454/en/ Peru inaugurated its Pavilion at Expo 2020 Dubai and received four awards from the “Tourism Oscars.” (Photo: Business Wire) The Peru Pavilion was inaugurated by the Commissioner General for Peru at the Expo, Amora Carbajal, and Najeeb Mohammed Al-Ali, Executive Director of Expo 2020 Dubai, in front of official representatives from different country pavilions. “The purpose of the pavilion is to offer a complete learning experience about ancient Peruvian wisdom throughout the visit, communicating the importance of the heritage, biodive
Schlumberger Announces Third-Quarter 2021 Results22.10.2021 13:50:00 EEST | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the third-quarter 2021. Third-Quarter Results (Stated in millions, except per share amounts) Three Months Ended Change Sept. 30, 2021 Jun. 30, 2021 Sept. 30, 2020 Sequential Year-on-year Revenue* $5,847 $5,634 $5,258 4% 11% Income (loss) before taxes - GAAP basis $691 $542 $(54) 28% n/m Net income (loss) - GAAP basis $550 $431 $(82) 28% n/m Diluted EPS (loss per share) - GAAP basis $0.39 $0.30 $(0.06) 30% n/m Adjusted EBITDA** $1,296 $1,198 $1,018 8% 27% Adjusted EBITDA margin** 22.2% 21.3% 19.4% 90 bps 280 bps Pretax segment operating income** $908 $807 $575 12% 58% Pretax segment operating margin** 15.5% 14.3% 10.9% 120 bps 460 bps Net income, excluding charges & credits** $514 $431 $228 19% 126% Diluted EPS, excluding charges & credits** $0.36 $0.30 $0.16 20% 125% Revenue by Geography International $4,675 $4,511 $4,210 4% 11% North America* 1,129 1,083 1,034 4% 9% Other 43 40 14 n/m n/m $5,847 $5,634 $5,258 4% 11% *Schlumbe
Disruptive.Asia: Huawei's Ryan Ding and Peng Song Discuss How Operators Can Leverage Connectivity to Unlock New Growth22.10.2021 13:30:00 EEST | Press release
Disruptive.Asia reported that Ryan Ding and Peng Song stressed the growing importance of connectivity in driving industry growth and generating value amid a rapidly evolving landscape at the 7th Ultra-Broadband Forum (UBBF 2021) in Dubai, which is jointly hosted by the UN Broadband Commission and Huawei. Ding, Executive Director of the Board and President of the Carrier Business Group, Huawei, said that connectivity has made it possible to innovate, especially in a digital age where increasing efficiency has become paramount. The pandemic has also ushered a paradigm shift in connectivity, as homes turned into multi-functional centers for education, work, and business. It became increasingly clear that connectivity not only drives digital economies forward but also maintains the functioning of society. Peng, President of the Global Carrier Marketing & Solution Sales Department, Huawei, said that looking at connectivity through Huawei's C.A.F (Coverage, Architecture and Fusion) model can
Suzano Brings Its Target for Capturing 40 Million Tons of Carbon From the Atmosphere Forward To 202522.10.2021 13:19:00 EEST | Press release
Suzano, the world's leading eucalyptus pulp producer and a global benchmark in the manufacture of bioproducts developed from eucalyptus, announces today that it has revised one of its 14 long-term goals – collectively known as Suzano’s “Commitments to Renewing Life”*. Suzano’s goal to remove 40 million tons of carbon from the air by 2030 has been brought forward by five years to 2025. With this revision, Suzano reinforces its capacity to make an even more positive contribution to the planet's climate by achieving net carbon removals from the atmosphere at a faster pace than previously expected. The new five-year target will be supported by the expansion of Suzano’s forest covering which will involve both an uplift in commercial planting operations and setting aside new designated conservation areas that were previously anthropized. Alongside these improvements, Suzano will maintain its focus on reducing carbon emissions across its own operations and supply chain and will continue to im
AntChain Launches Its First Security Chip and New Blockchain Platform Powered by Privacy Computing Technology22.10.2021 13:01:00 EEST | Press release
AntChain, the flagship technology brand of Ant Group, today unveiled two new products at the Apsara Conference 2021 in Hangzhou – the FAIR platform and the T1 security chip – to ensure the security and trustworthiness of data flows within blockchain networks. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211022005166/en/ Yan Ying, technical director of AntChain, unveiled the FAIR platform at the Apsara Conference on October 22, 2021. (Photo: Business Wire) Based on AntChain’s upgraded technical architecture, the FAIR platform natively integrates privacy-preserving computation (PPC) and blockchain technologies in a unified platform, unleashing the value of data flows over their entire lifecycle. FAIR is designed to address pain points in multi-party collaboration on data flows, which is increasingly common on the industrial internet. It replaces traditional “PPC plus blockchain” dual-system architecture, integrating the two
Total Telecom: Maximizing the Value of Connectivity22.10.2021 13:00:00 EEST | Press release
Total Telecom reported that i ndustry leaders gathered recently at Ultra-Broadband Forum 2021, organized by UN Broadband Commission and Huawei, held in Dubai to discuss building future-proof networks sustainably. Total Telecom thinks that the expectations from digital connectivity have been redefined in the last one year. From conducting financial transactions online to remote factory management, the digital way of life is becoming pervasive. "Connectivity reshaped how we live and work when the pandemic hit in 2020. Connectivity is more than an expansion of functions, it is an emotional bond. As long as there is connectivity, there is a bond. Where there is connectivity, there is innovation. It presents us with unlimited possibilities. I believe in our shared mission to create a connected world," says Ryan Ding, Executive Director of the Board, President of the Carrier BG, Huawei, in his inaugural address. The C.A.F (Coverage, Architecture and Fusion) model is emerging as a way for the
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom