Morningstar

Morningstar, a US-based company in the Financial intermediation services industry, reported its global carbon emissions for 2025 as 14,580,000 kg CO2e. This total includes approximately 157,000 kg CO2e from Scope 1 emissions, and about 6,480,000 kg CO2e from Scope 2 (location-based) emissions. Scope 3 emissions for 2025 were approximately 7,953,000 kg CO2e, primarily driven by business travel at 4,219,000 kg CO2e and upstream leased assets at 163,000 kg CO2e.

Looking back, in 2024, Morningstar's total emissions were 15,742,000 kg CO2e, with Scope 1 at 239,000 kg CO2e, Scope 2 at 6,867,000 kg CO2e, and Scope 3 at 8,636,000 kg CO2e. For 2023, total emissions were 11,163,000 kg CO2e, comprising 290,000 kg CO2e from Scope 1, 6,771,000 kg CO2e from Scope 2, and 4,102,000 kg CO2e from Scope 3.

Morningstar has set ambitious near-term climate commitments. The company aims to reduce its Scope 1 emissions by 50% from a 2020 baseline by 2030. Similarly, it targets a 50% reduction in Scope 2 emissions from a 2020 baseline by 2030. These targets indicate a clear strategy to decarbonise its operations.