In 2024, Morningstar completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Morningstar has also provided a category-level breakdown for 3 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 239a | 290a | 367a | |
Total Scope 2 | ||||
Market-Based | 1,932a | 6,176a | 6,270a | |
Location-Based | 6,867a | 6,771a | 6,672a | |
Total Scope 3 | 5,663a | 4,102a | 2,953a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.1051a | 0.1423a | 0.1962a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Morningstar amounted to 7,106 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Morningstar increased by 0.64%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Morningstar were 239 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Morningstar's Scope 1 emissions have decreased by 49.58%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Morningstar's Scope 1 emissions decreased by 17.59%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Morningstar reported Scope 2 greenhouse gas (GHG) emissions of 1,932 tCO₂e using the market-based method and 6,867 tCO₂e using the location-based method.a
Since 2019, Morningstar's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 12.39%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Morningstar's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Morningstar's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Morningstar reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Morningstar reported 5,663 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Morningstar includes a breakdown across 3 of the 15 Scope 3 categories defined by the GHG Protocol, up from 2 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Morningstar reported total Scope 3 emissions of 5,663 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Morningstar's Scope 3 emissionshave remained relatively stable, indicating that Morningstar's emissions have plateaued with no significant change in its value chain footprint.a
Compared to the previous year (2023), Morningstar's Scope 3 emissions increased by 38.05%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Morningstar reported emissions for 3 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Morningstar's Scope 3 emissions were:a
In 2024, Morningstar reported Scope 1 greenhouse gas (GHG) emissions of 239 tCO₂e and total revenues of USD 2,274 millions. This translates into an emissions intensity of 0.11 tCO₂e per millions USD.a
In 2024, Morningstar reported a Scope 1 emissions intensity of 0.11 tCO₂e per millions USD. Compared to the peer group median of 0.16, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Morningstar ranked 11 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Morningstar is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Morningstar reported a total carbon footprint of 12,769 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 14.39% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Morningstar's total carbon footprint was Scope 2 emissions, accounting for 53.78% of the company's total carbon footprint, followed by Scope 3 emissions at 44.35%.a