Our Approach to Sustainability
Overview
S&P Global’s approach to sustainability is grounded in our purpose – to “Accelerate Progress” – and our core values of integrity, discovery and partnership. We prioritize the areas where we have or could have the most impact – positive or negative, now or in the future – based on careful assessment and ongoing input from our internal and external stakeholders. Through this focused approach, we strive to not only mitigate risks but also seize opportunities to drive long-term value creation while contributing positively to society and the environment.
Our Material Topics
In 2023, we refreshed our assessment of financial and nonfinancial material topics following the merger between S&P Global and IHS Markit, and in recognition of evolving standards, regulations and market expectations. The materiality refresh process drew on engagement with investors, suppliers, employees and internal subject-matter experts, as well as annual tracking of customer viewpoints. We also conducted desk research to understand the evolving expectations of rating and reporting frameworks, best practices among peer companies and thought leadership within the civil society sector. We used these inputs to review if our key topics remained valid and to consider their related impacts, risks and opportunities.
The updated materiality assessment reinforced the conclusions of our previous assessment but also made recommendations to restructure and combine some topics for ease of understanding. As a result, we have identified eight topics that are material based on S&P Global’s impacts and/or their importance to our business success. In addition, the assessment highlighted six other topics that are important in continuing to meet expectations for ethical and responsible business conduct, which sets the foundation for our overall strategy and approach. To go directly to a topic in this report, click on its link below.
We recognize that sustainability-focused materiality assessment is a rapidly maturing discipline. In particular, new regulations and standards such as the EU’s Corporate Sustainability Reporting Directive (CSRD), the International Financial Reporting Standards’ (IFRS) Sustainability Disclosure Standards and the recently announced SEC Climate Disclosure Rule are expected to drive changes in how companies perform such assessments. We will continue to monitor these developments and evolve our approach.
Stakeholder Engagement
The views and input of our stakeholders are critical to our ability to understand and address our most significant impacts, and to co-create solutions that accelerate progress for all. We conduct both regular and targeted engagement with internal and external stakeholders, as outlined below.
Senior Leadership
The Corporate Responsibility team presents the company’s sustainability performance, including risks, opportunities, best practice and industry trends, to S&P Global’s senior leadership and the Board of Directors at least once per year. There is also regular interaction with the senior leadership team and our Chief Purpose Officer to make timely decisions on our sustainability strategy, target setting and related programs.
Employees
Our people respond to VIBE (Voice, Insights, Belonging and Expectation) surveys at regular intervals throughout the year. VIBE results and verbatim feedback help the company respond to employees’ needs and, over time, serve as a measure of accountability for senior leadership on key actions. We also encourage employees to speak with their People Leaders and People Partners. Through our People Resource Groups and Corporate Responsibility and Green teams, we are also able to tap into feedback from local markets.
Customers
Our customers engage with us through multiple channels, including surveys, our corporate website, podcasts, webinars, dedicated events and divisional engagements. Net Promoter Scores across respective divisions help us gauge our customers’ experiences and satisfaction with us. Our senior leadership frequently engages key clients through virtual and face-to-face meetings to listen and respond to their direct feedback.
Investors
S&P Global engages with investors at our quarterly earnings calls and Annual Meeting. The company’s Investor Relations team and the Office of the Corporate Secretary also seek feedback and respond to queries from investors on the company’s sustainability performance.
Suppliers
We engage with suppliers through our Procurement team. All suppliers receive our Vendor Code of Conduct (VCOC) when they begin providing products or services to us, and we expect them to contribute to our long-term goals on supplier diversity and environmental responsibility. For more information, please see Responsible Sourcing and Supply Chain Management.
Communities
We primarily engage with communities through the S&P Global Foundation and our diversity, equity and inclusion (DEI) partners. These nonprofit partners serve as a proxy for the communities they serve and help us understand the best ways for us to make a positive impact in our key focus areas and to support the needs of our communities. For more information, please see Community and Economic Impact.
Policymakers and Regulators
We engage with policymakers and regulators on issues affecting our global business strategy, both through direct lobbying and through our involvement with certain trade associations. Through proactive dialogue and advocacy, we strive to contribute to the development of effective policy and regulations that address the needs of our stakeholders, including on sustainability matters. For more information, please see Policy Influence and Transparent Engagement.
Advancing the SDGs
The United Nations’ Sustainable Development Goals (SDGs) are a global blueprint toward a more inclusive and sustainable future. As part of our role in global markets and communities, we contribute to advancing several of the Goals through our business and our corporate responsibility efforts.
The table below highlights specific Goals in relation to the key topics addressed in this report.
