S&P Global Inc. reports company news across data, benchmarks and analytics for capital, commodity and automotive markets. Coverage includes its credit ratings and market intelligence businesses, S&P Global Energy and Platts price assessments, and S&P Global Mobility products such as CARFAX vehicle history reports, listings, car care tools and recall data.
Recurring updates also include investor conference appearances, product and data launches, board and governance changes, and corporate-status developments involving the Mobility division.
Insulet Corp. (PODD) will replace SVB Financial Group (SIVB) in the S&P 500 index, effective March 15, 2023. This change follows the Federal Deposit Insurance Corporation's (FDIC) action to place SVB Financial Group into receivership, rendering it ineligible for the index. Insulet's addition highlights its growing presence in the health care sector, while the deletion of SIVB reflects the significant challenges faced by financial institutions. The S&P Dow Jones Indices oversees these adjustments, which can impact the market perceptions and valuations of the involved companies.
During CERAWeek 2023 in Houston, S&P Global will present the 2023 Energy Innovation Pioneers, celebrating groundbreaking companies in energy technology. Honorees include GreenFire Energy, Heaten, Mangrove Lithium, and others, recognized for their innovative strategies in promoting a lower-carbon economy. The event features sessions on adapting technologies for decarbonization and reconfiguring the global economy to meet energy needs sustainably. Key discussions will include the energy transition, sustainability challenges, and opportunities in energy security. CERAWeek runs from March 6-10, 2023, focusing on innovations that reshape the energy landscape.
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Kensho Technologies, a subsidiary of S&P Global, introduced its new Natural Language Processing (NLP) tool, Kensho Classify, on March 2, 2023. This innovative solution enhances the accessibility and analysis of vast textual data, enabling smart searches and content recommendations for business and finance professionals. Classify requires only 30 data points for training, making it user-friendly and efficient. The tool aims to assist various sectors including business content providers and finance professionals in deriving actionable insights quickly. This release follows the recent introduction of the NERD UI, another NLP tool by Kensho.
CARFAX Canada has launched a new vehicle valuation offering named History-Based Value, designed specifically for dealers. This innovative valuation model automatically adjusts for each vehicle's unique history, including past damage and maintenance. History-Based Value is refreshed weekly to stay updated with market trends, providing dealers with accurate pricing tools. The launch comes in response to rising consumer expectations, as 1 in 3 car shoppers may reject offers perceived as unjustified. This makes CARFAX Canada's service essential for transparent and profitable vehicle dealings.
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Novata, a technology platform for private markets, has announced the successful completion of its Series B funding, raising $30 million. This funding was led by Hamilton Lane (NASDAQ: HLNE) and included investors such as S&P Global (NYSE: SPGI) and Microsoft (NASDAQ: MSFT). The capital will enhance Novata's ESG data management platform, which now serves over 3,500 private companies. Launched in April 2022, Novata provides robust benchmarking capabilities and aims to increase ESG transparency in private markets. The company continues to position itself as a critical infrastructure for sustainable capitalism.
S&P Dow Jones Indices has launched the S&P GSCI Climate Aware index, incorporating environmental metrics into commodities tracking. Designed to provide exposure to global commodities while reducing reliance on fossil fuels, this index reallocates weights favoring essential commodities for the energy transition and maintains food commodity allocations.
The index aims for a 25% reduction in environmental impact per dollar compared to the S&P GSCI, with a yearly decarbonization target of 5%. Developed in collaboration with J.P. Morgan, the launch reflects growing market demand for sustainability-focused investment options.
John F. Kerry, U.S. Special Presidential Envoy for Climate, will address the 41st CERAWeek by S&P Global from March 6-10 in Houston. This year's theme is 'Navigating a Turbulent World: Energy, Climate and Security'. The conference will address energy transition challenges amidst global uncertainty, discussing key themes like energy security, geopolitics, and innovation. Kerry's insights are anticipated to enhance dialogues on climate and energy security among industry leaders, policymakers, and experts. The event will also feature a technology hub showcasing transformative energy solutions.
S&P Global Mobility announced the winners of its 27th annual Automotive Loyalty Awards. General Motors secured the 'Overall Loyalty to Manufacturer' award for the eighth consecutive year, while Tesla was recognized for 'Overall Loyalty to Make' among other accolades. The automotive industry faced challenges in 2022, with loyalty decreasing to 50.2%, down from 54.6% in 2019. The awards highlighted Tesla's significant loyalty among ethnic consumers, who accounted for 52% of its loyal customer base. Mercedes-Benz and Subaru received notable awards as well, marking a strong performance in customer retention despite market pressures.