MSCIENVIRONMENTAL
POLICY
Companies around the world have a fundamental responsibility
to reduce their impact on the planet and join the journey to a
decarbonized and sustainable economy. MSCI is committed toachieving ever higher levels of corporate environmental stewardship.
Our commitment reflects our obligation to be good stewards of thecapital that shareholders entrust to our company. Building a sustainable
future entails a dual role for MSCI. On the one hand, we provide our clientswith cutting-edge tools and products to help them assess the impact ofclimate change and other environmental, social and governance issues
on their investment portfolios; on the other, we hold ourselves tothe same high standards that we use to assess the risk profiles of thecompanies in those investment portfolios.

Our Environmental Policy (“Policy”) outlines theenvironmental commitments that guide ourcompany’s strategic, product and operational
business decisions. It also underscores ourcommitment to limiting our environmental
impact throughout our operations over timeand encourages our stakeholders — our clients,
shareholders, employees, suppliers and local
communities — to do the same. Our policy will
be revisited as conditions and needs change,
ensuring we continue to achieve higher levelsof corporate environmental stewardship.
MSCI remains committed to reducing our impact
on the environment in the following ways:
Reducing the environmental impact ofdirect operations
We are committed to the goal of net-zerocarbon emissions before 2040. To achievethis, MSCI will remove as much carbon dioxide fromthe atmosphere as we put in so that, in total, our carbon
footprint is net-zero.
Throughout MSCI’s global operations, we will prioritize
reducing emissions. We will also accelerate carbon-reduction initiatives on the most material and controllable emissions, such as electricity consumption, business travel
and employee commuting. We will also favor green-certified buildings for MSCI offices, promote a flexible working
environment for employees, and encourage virtual meetings and low-carbon options for business travel.
Engage suppliers
We will tackle climate change and othersustainability challenges in our supply chain
and prioritize engagement with our major andmost significant suppliers to achieve shared net-zerogoals. We will prioritize partnerships with product and data
suppliers and professional services firms which procure
products with lower environmental impacts and that have
responsible waste and water management programs aswell as protect biodiversity. Our expectations are spelledout clearly in our Supplier Code of Conduct, available athttps://www.msci.com/supplier-code-of-conduct

Engage employees
As citizens of countries around the world,
MSCI encourages its employees to take anactive role in tackling climate change andbroader sustainability challenges. We host events, including
collaborating with our employee-sponsored Climate
Action Networks, to educate employees on the history ofclimate change, evolving environmental trends, and how
MSCI is demonstrating leadership in helping clients solve
the investment challenges associated with sustainability
issues. Through our day-to-day operations we implement
initiatives to reduce our impact on the environment andare empowering our employees to adopt environmentallyfriendly practices.
Water, waste and biodiversity
MSCI is committed to protecting biodiversity
and the rights of local communities. Weemphasize the principles of a circular economy.
Our processes are intended to conserve materials andnatural resources, reducing waste across our global
operations, while navigating various geographic constraints to procuring, reusing, reducing, recycling, andcomposting. We are also committed to responsible water
management – we strive to use water in a responsible
way and prevent any pollution to water. We are committed
to maintaining policies that empower our staff to procure
renewable, reusable and recyclable products.
Environmental solutions for investors
At MSCI, we are committed to providing thenecessary research, tools and solutions to help
all market participants accelerate this economic transformation to a more sustainable economy. In
addition to climate indexes and other climate-related data,
MSCI will provide advanced analytical tools to help companies better measure their transition and physical risks
in order to better align with a net-zero trajectory and thus
better integrate environmental risks and opportunities into
their investment processes and strategies.
Targets and metrics
In December 2020, we announced our pledge
to reduce by 2035 the company’s Scope 1 and2 emissions by 50% and Scope 3 emissions by20%. With the commitment to transition to net-zero prior
to 2040, MSCI will review and publish revised interimtargets as well as report progress using standardized
metrics and initiatives, such as those developed by theTaskforce on Climate-related Financial Disclosures(TCFD). We will also supplement our environmental strategy as best practices and technological developments
emerge.
Governance
We are committed to having good management and governance structures in place that
underscore the importance of environmental,social and governance (ESG) as well as climate-related
issues to our company. Our management team has dayto-day responsibility for identifying, assessing and managing ESG and climate-related risks and opportunities, while
the MSCI Board of Directors ultimately oversees management’s execution of these responsibilities.
Our Governance and Corporate Responsibility Committee(“Governance Committee”) is responsible for overseeing
environmental (including climate), social and governancematters as they relate to MSCI’s business and long-term
strategy. The Chief Responsibility Officer provides
quarterly updates and reports at least semi-annually tothe Governance Committee. The quarterly updates are
made available to the full Board. They include progress on
the execution of the Corporate Responsibility Committee’soperating plan. This provides a framework for executing
on high-impact areas for improvement, including
MSCI’s practices and disclosures, and for developing andimplementing short- and long-term plans to address key
priorities, commitments and reporting.

MSCI evaluates evolving environmental considerations inalignment with its business decisions. We are committed
to continually assessing and reporting how our Policy isbeing implemented throughout our organization and iterateon established principles when necessary.
Updated August 2021