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Responsible Products and Marketing
S&P Global takes seriously our role in providing the world’s leading organizations with the Essential Intelligence® they need to make informed decisions. The company’s values of integrity, discovery and partnership are ingrained in the products and services we offer and in every step of the customer experience.
We continually seek new ways to deliver value and provide a positive experience for our customers. From ideation, prototyping and testing through launch, marketing and delivery, we strive to deliver products that exceed expectations through quality-focused, risk-informed protocols. Throughout, we prioritize our responsibility to customers and their needs and preferences.
S&P Global follows protocols to develop responsible, accurate, relevant and high-quality products. Any new product must have review and signoff from risk, legal, compliance, marketing and, in some instances, finance to confirm that all quality standards are met and any issues identified during development-phase risk assessments are addressed. We also have mechanisms for receiving and investigating complaints about our products and implementing corrective action plans.
To maintain strong risk-management governance and controls for our products, several business units or divisions have product development governance processes.
S&P Global Ratings, for instance, employs various first-, second- and third-line functions, as appropriate, to oversee the establishment, maintenance and enforcement of policies, procedures and methodologies for determining credit ratings and non-credit rating products. Through its New and Materially Changed Product Approval (NPA) Process, S&P Global Market Intelligence aims to ensure operational, legal, financial, compliance and other factors, as well as enterprise risks, are addressed prior to launch. At S&P Global Commodity Insights, commercial and editorial functions are managed separately, to ensure benchmarks are produced independently, transparently and free from any commercial influence. Index committees at S&P Dow Jones Indices support efforts for all indices to be appropriately developed, defined and structured, and regularly reviewed for compliance with our public methodologies as market conditions change. Likewise, S&P Global Mobility ensures product integrity through robust product governance. And S&P Global Sustainable1 uses a principle-based approach with policies and guidelines for governing the methodology and modeling underlying many of its product and service offerings (see box titled S&P Global Sustainable1 Builds on Methodology and Modeling Governance).
In 2023, S&P Global Sustainable1 developed a principles-based approach to governance of the methodology and modeling underlying many Sustainable1 product and service offerings. The approach includes policies and guidelines governing independence and objectivity, conflicts of interest management, use of information and confidentiality, issue complaints, disclosure, sale and licensing of ESG scores, data security, commercial interactions among S&P Global divisions and more. It applies to existing and future product and service offerings that use a methodology or model-based approach, offering a consistent framework for the assessment of quality, risk and potential regulatory issues.
This new approach is part of broader efforts to build on Sustainable1’s governance and control protocols. In 2023, Sustainable1 reorganized policy-oversight duties to separate policy responsibilities for analytical, commercial and associated products. The Sustainable1 Control and Governance teams also became fully operational, with Methodology Governance, the Product & Data Working Group, the Compliance and Analytic Risk & Quality Groups, and the Product Leadership Council leading governance activities; and groups for Methodology Governance, Data Quality, and Product & Data Governance leading control activities.
Our business depends on our clients’ trust. We maintain processes and policies to enable us to align marketing materials with responsible practices, legal requirements and customer expectations.
Safeguarding customers’ trust starts with protecting their privacy. See our Global Corporate Privacy Policy for details. We employ responsible sales and marketing practices in communicating the value of our products and services, including complying with transparency rules.
We believe a commitment to diversity, equity and inclusion is essential for our business to thrive, and we embed it in our marketing practices. In 2023, our in-house agency, The 199, updated S&P Global brand guidelines to include more diversity in both our written and visual content.
We have dedicated policies to enable us to meet and adhere to the highest standards. For instance, our Social Media Policy(opens in a new tab) prohibits our team members from taking any action that might suggest that the independence and objectivity of our products or services could be improperly influenced by our sales, marketing or other commercial interests. Failure to comply with our policies may lead to disciplinary action, up to and including termination of employment.
We strive to deliver consistently excellent value that customers can feel confident in, by providing an effortless experience that leaves customers feeling heard, understood and empowered. Our approach to supporting customers through every step of their experience with us has three main components:
S&P Global has been using AI and machine learning to accelerate innovation in the financial services industry since acquiring Kensho in 2018. We recognize the potential risk in areas related to AI ethics, bias, transparency, traceability, auditability, data privacy, intellectual property and others. In 2023, in response to rapid developments in Generative AI, S&P Global appointed its first Chief Artificial Intelligence Officer, responsible for defining and leading the company’s AI vision and strategy, including effective and responsible AI use across the company.
Among steps the company has taken to address AI-related risks, we updated our Acceptable Use Policy to include a new section on AI and applicable governance related to AI topics. The company developed various risk mitigation plans and review processes. This includes the creation of a diverse, enterprise-wide AI Council – a working group tasked with evaluating AI opportunities across the company – as well as additional governance mechanisms at the division level. The S&P Global Market Intelligence AI Steering Committee, for example, has established an AI Licensing Framework that includes ethical guidelines for the division’s business lines. Our AI policies for marketing are aligned to the corporate policies issued by S&P Global’s Chief Risk Officer.
As we look toward opportunities to embed both generative and traditional AI capabilities everywhere that makes sense, we are committed to doing so ethically. We have added a training module on AI to our 2024 Code of Business Ethics (COBE) Training and Affirmation and updated the COBE to include Q&A on the use of AI. We created a course on Ethical Considerations in Generative AI, available to all of our people, which explores ethical topics related to AI and tools and techniques for addressing challenges.
To improve accessibility in our client-facing applications, our A11y Quality Assurance (QA) team partners with the product and user experience teams to assess and help mitigate A11y issues. (“A11y” is a numeronym for “accessibility.” It keeps the first and last letter of the word and replaces the 11 letters in between with their count.)
In 2023, the A11y QA team offered training sessions and interactive events to educate our colleagues and help promote a culture of accessibility. The team itself includes diverse perspectives, including a person with vision disabilities, and offers insights that support our commitment to creating products catering to the needs of all users.