Task Force on Climate-related Financial Disclosures

In 2022, S&P Global continued its commitment to proactive and transparent disclosure and its ongoing assessment of climate-related risks and opportunities in the context of the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).

As with S&P Global’s prior TCFD reports, the assessments for S&P Global’s 2022 report were informed by Trucost ESG Analysis, part of S&P Global. Trucost ESG Analysis takes a robust, data-driven approach to the TCFD assessment that includes stakeholder interviews and surveys, physical and transitional risk assessment, and climate-related scenarios.

S&P Global’s 2022 TCFD Report

TCFD Disclosures

  • Governance
  • S&P Global’s Board of Directors (the Board) views oversight and effective management of environmental, social and governance (ESG) related risks and opportunities as essential to the Company’s ability to execute its strategy and achieve long-term sustainable growth. As such, the full Board receives regular updates on a variety of ESG topics as well as ongoing discussions and committee reports throughout the year.
  • Strategy
  • S&P Global integrates climate-related risks and opportunities into the larger enterprise strategy to fuel innovation and strengthen strategic decision-making with long-term, resilient operations in mind.
  • Risk Management
  • S&P Global leverages multiple Corporate Risk Management programs to manage climate-related risks, including:
  • Enterprise Risk Management (ERM)
  • Business Continuity Management (BCM)
  • IT Disaster Recovery 
  • Metrics & Targets
  • S&P Global’s corporate sustainability initiatives to decrease its carbon emissions and natural resource consumption are supported and integrated across its global operations through comprehensive global programs, proactive performance tracking and transparent reporting, and the introduction of metrics and targets, including:
  • Adjusted Diluted Earnings per Share (EPS) further Adjusted for the Estimated Cost of Carbon
    Metric that provides transparency into the previously hidden cost of carbon emissions from our operations
The full report including S&P Global’s TCFD scenario analyses is available here

Future Opportunities from ESG and Climate-related Product Development

S&P Global has developed a suite of products across its underlying business units that will help its clients mitigate challenges from climate change and drive opportunities as the world transitions to a low-carbon economy. The Company will continue to invest in innovative solutions that power sustainable markets of the future.

The Company enhanced the vital ESG intelligence it provides by:

  • Producing the first S&P Global ESG Scores based on CSA (Corporate Sustainability Assessment) data and launching them commercially via the Xpressfeed platform and S&P Capital IQ Pro 
  • Announcing a pioneering open-source climate data platform to empower investors

See pages 12 and 13 of the 2022 Investor Fact Book for current ESG
and climate-risk solutions

Projected Revenues from Ongoing Development of ESG Products

S&P Global is projecting a five-year revenue compound annual growth rate of approximately 46% from products and solutions that assist its clients in the transition to a low-carbon economy and improve their integration of sustainability.

* S&P Global considers ESG revenue to be synonymous with TCFD-related revenue as climate/environmental revenue is bundled in the broader ESG offerings