Dailycsr.com – 18 April 2018 – For the first time, Bloomberg includes the “FSB Task Force” recommendations given on “Climate-related Financial Disclosures” in its “Impact Report” for 2017.
The business strategy of Bloomberg “under a 2° or less Celsius scenario” is analysed with a “related scenario” in the report’s “dedicated section on climate” while the comparison is made with a scenario wherein “no concerted action is taken to mitigate climate change”.
Moreover, the report also outlines the company’s sustainable approach which reduced over “100 million USD in operational cost” over the past ten years’ time; while also resulting in the “integration of sustainable finance considerations” into Bloomberg’s services and products alike.
The report even incorporates Mike Bloomberg’s “introductory letter” while featuring a “a series of case studies” that demonstrate Bloomberg’s integrated sustainability “throughout the firm”. Bloomberg’s global head of “Sustainable Business & Finance”, Curtis Ravenel:
“At Bloomberg we have been a long believer that sustainable business is good business and our Impact Report continues to emphasize how we are proving the business case for sustainability. More disclosure on how companies will be affected by climate change will help investors make more informed decisions. We've led the work on TCFD and set an example by adopting the TCFD recommendations in our Impact Report.”
Here are the highlights from Bloomberg’s report under three categories, as mentioned by Ethical Performance:
Product
14,935 customers used ESG data on the Bloomberg Terminal (up 22% from 2016). Bloomberg launched a Gender-Equality Index (GEI) that is sector neutral, opening up Bloomberg's 2017 data survey to companies in all industries. Membership for the GEI published in January 2018 has doubled in one year to 104 member firms from ten sectors headquartered in 24 countries and regions. Bloomberg released two tools to help assess and disclose carbon emissions, the Portfolio Carbon Footprint Tool and the Carbon Tracker 2D Scenario Analysis Tool. The business strategy of Bloomberg “under a 2° or less Celsius scenario” is analysed with a “related scenario” in the report’s “dedicated section on climate” while the comparison is made with a scenario wherein “no concerted action is taken to mitigate climate change”.
Moreover, the report also outlines the company’s sustainable approach which reduced over “100 million USD in operational cost” over the past ten years’ time; while also resulting in the “integration of sustainable finance considerations” into Bloomberg’s services and products alike.
The report even incorporates Mike Bloomberg’s “introductory letter” while featuring a “a series of case studies” that demonstrate Bloomberg’s integrated sustainability “throughout the firm”. Bloomberg’s global head of “Sustainable Business & Finance”, Curtis Ravenel:
“At Bloomberg we have been a long believer that sustainable business is good business and our Impact Report continues to emphasize how we are proving the business case for sustainability. More disclosure on how companies will be affected by climate change will help investors make more informed decisions. We've led the work on TCFD and set an example by adopting the TCFD recommendations in our Impact Report.”
Here are the highlights from Bloomberg’s report under three categories, as mentioned by Ethical Performance:
Product
Operations
Bloomberg's new European Headquarters in London achieved the highest design-stage BREEAM rating of any major office development in the world. The building was rated "Outstanding" against the BREEAM sustainability assessment method, with a 98.5% score. Additionally, five new offices achieved LEED-certification, bringing our total portfolio to 35. Since 2008, the company's global efficiency measures and environmental projects have resulted in 834,209 metric tonnes of avoided CO₂ emissions — the equivalent of more than 4.5 years of Bloomberg’s carbon emissions — and avoided $103 million in operating costs. People
Bloomberg became the first U.S.–domiciled corporate retirement plan sponsor to incorporate the United Nations’ six Principles for Responsible Investment into its investment practices. In 2017, more than 12,000 employees in 92 cities around the world dedicated more than 145,000 hours of service to helping those in need, protecting the environment, strengthening our communities and volunteering for a wide variety of community-based efforts. The Bloomberg News team started the Women’s Voices project in Asia in 2016, and in 2017, made significant progress in increasing the number of female experts and officials featured in Bloomberg's stories and broadcasts. The program is expanding globally. The Impact Report of Bloomberg undergoes “third party” verification and is SASB framework as well as GRI compliant. For downloading a PDF of the above mentioned report, kindly visit:
www.bloomberg.com/impact
References:
http://ethicalperformance.com/