S&P Global joins the Net Zero Financial Services Provider Alliance, part of the Glasgow Financial Alliance for Net Zero

Rhea-AI Summary

S&P Global has joined the newly launched Net Zero Financial Services Provider Alliance (NZFSPA), consisting of 17 members dedicated to achieving a net zero economy by 2050. This alliance, part of the Glasgow Financial Alliance for Net Zero (GFANZ), aims to mobilize capital for sustainable transitions by providing essential data and insights to financial institutions. Members will set Science Based Targets for emissions and report progress in line with the Taskforce on Climate-Related Financial Disclosures. CEO Doug Peterson emphasized the importance of collaboration in reaching net zero goals.

Positive

• Joining the NZFSPA positions S&P Global as a leader in sustainable finance.
• Collaboration with 17 other members to enhance capital flow towards net zero.

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• None.

NEW YORK, Sept. 21, 2021 /PRNewswire/ -- S&P Global has today announced that it is a founding member of the newly launched Net Zero Financial Services Provider Alliance (NZFSPA).  The seventeen members of the NZFSPA have committed to aligning their relevant services and products to improve consistency in financial decision-making with achieving a net zero economy by 2050, at the latest.

The newly launched alliance joins the Glasgow Financial Alliance for Net Zero (GFANZ), part of the UN Race to Zero campaign. This is a major step in mobilising the flow of capital committed to supporting the transition to a net zero economy, by helping to ensure that asset managers, banks and financial institutions have the data, information and products needed to achieve their own net zero goals.

The launch seeks to enhance and accelerate the efforts of asset managers, banks, and other financial institutions in the Race to Zero to allocate capital in line with net zero. 

Doug Peterson, CEO of S&P Global, said: "The global economic transition to net zero will be realized through a truly collaborative and aligned approach. I am delighted that S&P Global is joining the Net Zero Financial Services Provider Alliance, part of the Glasgow Financial Alliance for Net Zero to support our common goal of a resilient and sustainable future. More than ever, investors and companies seek evidence-based insights, high quality data and advanced analytics to explain the relationship between sustainability and business performance. For over a hundred years, S&P Global has powered the markets through its insights, data, benchmarks, indices and wider products and we are proud to be using this experience and expertise to inform the global market transition."

Alliance members will set Science Based Targets for their own emissions and have committed to report on their progress, including publishing disclosures aligned with the recommendations of the Taskforce on Climate-Related Financial Disclosures. The Principles of Responsible Investing, the UN-supported network of investors, will advise the alliance and help with the co-ordination with net zero asset owners and asset managers.

About S&P Global
S&P Global (NYSE: SPGI) is the world's foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical economic, market and business factors. We've been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. Our divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. For more information, visit www.spglobal.com.

Contact:
Sarah Whybrow
Director of Communications, S&P Global Sustainable1
Telephone: +44 7929 711556
Email: sarah.whybrow@spglobal.com

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SOURCE S&P Global Sustainable1

FAQ

What is the Net Zero Financial Services Provider Alliance (NZFSPA)?

The NZFSPA is a coalition of 17 financial service providers committed to aligning their services with achieving a net zero economy by 2050.

How does S&P Global's membership in NZFSPA affect SPGI investors?

S&P Global's membership enhances its reputation and positioning in sustainable finance, which may positively influence investor confidence and stock performance.

What targets will S&P Global set as a member of the NZFSPA?

S&P Global will set Science Based Targets for its emissions and commit to reporting its progress in alignment with the Taskforce on Climate-Related Financial Disclosures.

When was the Net Zero Financial Services Provider Alliance launched?

The NZFSPA was launched on September 21, 2021.