S&P Global Endorses Say on Climate, Will Bring Climate Plans to Shareholder Vote
Leading credit ratings, benchmarks and analytics provider S&P Global announced today its endorsement of the Say on Climate campaign, aimed at improving the transparency and accountability of company climate initiatives.
The Say on Climate campaign seeks to implement sustainable business practices around the globe by advocating for corporate climate action plans. The campaign is sponsored by The Children’s Investment Fund Management (TCI) and The Children’s Investment Fund Foundation (UK). By committing to the initiative’s principles, organizations agree to climate transparency practices including providing annual disclosure of emissions, a plan to manage those emissions, and a vote on the plan at Annual General Meetings (AGMs).
Earlier this year, S&P Global announced the launch of a series of climate initiatives ranging from emissions reduction commitments to reporting and disclosure to advocacy, and including a target for the company to achieve net zero emissions by 2040, and an interim goal to reduce emissions by 25% by 2025. Additionally, the company announced that its targets have been validated by the Science Based Targets initiative (SBTi), and that it has also signed the Business Ambition Pledge for 1.5⁰C, a call to action from a global coalition of UN agencies, business and industry leaders.
S&P Global stated that it will present its climate action plans to shareholders for a vote in its 2021 and 2022 proxy statements.
Ewout Steenbergen, Executive Vice President and Chief Financial Officer of S&P Global, said:
“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. 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.”