MSCI Inc has announced that it has committed to the goal of having net-zero emissions before 2040.

The announcement comes after MSCI’s previous pledge to reduce the company’s Scope 1 and 2 emissions by 50%, as well as Scope 3 emissions by 20% by 2035.

With the new commitment, MSCI says it will review and publish revised interim targets using a standard set of metrics and initiatives, such as those developed by the Taskforce on Climate-Related Financial Disclosures (TCFD).

MSCI will also supplement its transition strategy as best practices and technological developments emerge. 

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To ensure that the goal is achieved throughout its global operations, MSCI says it will prioritise reducing emissions by accelerating carbon-reduction initiatives that focus on the most material and controllable emissions such as electricity consumption and business travel.

It will also engage its suppliers on tackling emissions in the MSCI supply chain and prioritise engagement with major suppliers to achieve shared net-zero goals.

On the announcement, Henry Fernandez, Chairman and Chief Executive Officer, MSCI, says, “Companies have a fundamental responsibility to reduce their impact on the planet and join the journey to a decarbonised economy. MSCI’s commitment reflects our obligation to be good stewards of the capital that long-term shareholders entrust to our company.

“MSCI’s efforts to achieve net-zero before 2040 will drive a transformation of our company, culture and our actions to the benefit of all our stakeholders.  We believe this action is needed as we play our part to unshackle the world from the fossil fuel era and ignite a new world of sustainable growth,” he adds.