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Responsible sourcing
We are working to build a sustainable supply chain that upholds our rigorous standards and prioritizes environmental efforts, diversity and ethical codes of conduct. In addition to engaging our suppliers on climate and increasing our supplier diversity, we have enhanced our due diligence assessments to quantify and monitor potential sustainability-related risks in our supply chain.
Engaging suppliers on climate
Engaging suppliers to reduce their own emissions is a key element in our strategy to achieve net-zero emissions. In our Decarbonization Plan, we set a target for 60% of our suppliers by spend covering purchased goods and services and capital goods to have science-based targets by 2025. As of year-end 2022, our suppliers by spend that have science-based targets increased to 49% and exceeded our internal annual target of 33%.
Our target
60% of Moody’s suppliers by spend covering purchased goods and services and capital goods to have science-based targets by 2025
Increasing supplier diversity1
Our Supplier Diversity Program aims to increase our partnerships with small business enterprises and businesses owned by people of underrepresented racial and ethnic groups, women, people with disabilities, veterans and members of the LGBTQ+ community. In 2022, our small business and diverse Tier I spend increased by 44% over the previous year. We also work with our suppliers to encourage diverse spend within their own supply chains. We formally launched our Tier II Supplier Diversity Program, which aims to identify, track and manage the diverse spend for our highest spend and strategic suppliers.
Diverse supplier spend
Small businesses
Creating an ethical supply chain1
Our suppliers are held to standards sets forth in our Supplier Code of Conduct and Human Rights Statement. In addition, our Modern Slavery and Human Trafficking Statement is updated annually and describes our approach to preventing human rights violations in our workforce and supply chain.

As part of our due diligence process, we conduct sanctions screening on all new suppliers. We evaluate and segment applicable suppliers based on criticality and risk, and we screen all key suppliers2 with Compliance Catalyst, a Moody’s tool powered by the Orbis and Grid databases on private companies. As of December 31 2022, we have assessed 100% of our key suppliers and have not identified any high-risk suppliers.