Report showcases Bloomberg's efforts to achieve its verified science-based goal of reducing net-zero emissions, and its efforts to speed up climate action.
Bloomberg published its 2023 Impact Report, which explains how the company continues to tackle climate change through its operations, philanthropy, and collaborations with partners and industry peers. The report also describes how Bloomberg incorporates sustainable business practices into its operations and decision-making and how it helps to advance progress in the communities where employees and clients live and work.
The report highlights Bloomberg’s latest ESG datasets, tools, and research, including products that assist companies in assessing risks and opportunities as the world shifts to a net-zero emissions economy and meets new climate-related regulatory requirements. Bloomberg also outlines its progress in achieving its verified science-based target of reducing net-zero emissions by 2040, including the recent signing of an 80 MW Power Purchase Agreement (PPA) for renewable energy.
“We're working to expand access to data and information that assists investors and policymakers in making informed decisions that support economic growth and drive investment in a clean energy future.” said Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies. “And, through our support of industry initiatives such as the Glasgow Financial Alliance for Net Zero, we advanced our work providing resources to financial firms to help them measure and manage emissions across their portfolios.”
Read the full letter here.
A selection of highlights from the 2023 Impact Report include:
Environmental Impact
Reducing emissions in line with a 1.5°C future
- Received validation from the Science Based Targets initiative (SBTi) for Bloomberg’s long-term science-based net-zero target to achieve net-zero greenhouse gas emissions across our value chain by 2040
- Made progress toward our SBTi-validated near-term science-based carbon emissions reduction targets with 21% Scope 1 and 2 reductions and 27% Scope 3 reductions
- Sourced 62.2% of Bloomberg’s global electricity consumption from renewable sources
- Signed an 80 MW Power Purchase Agreement (PPA)—our largest PPA to date—with clean energy developer Ørsted
Supporting coherent, impactful climate action
- Introduced new indices within the Bloomberg Climate Index family including the new Bloomberg Commodity Carbon-Tilted Index
- Released new Bloomberg Terminal tools for analyzing physical risk and net-zero transition risk
- Launched new Bloomberg Terminal data and analytical tools to provide a comprehensive view of the nature-related impacts and dependencies in investment portfolios
- Enhanced our solutions for disclosure, reporting, and analysis against key regulatory frameworks
- Published more than 2,500 research publications on the global low carbon transition and commodity markets
Social Impact
Investing in an increasingly diverse workforce
- Invested in our leaders, helping them build the skills needed to elevate and model inclusive leadership with the launch of three new inclusive leadership initiatives
- Started a group to address the difficulties and requirements of our coworkers with disabilities
- Worked together with more than 20 outside organizations, including creating new partnerships to help us find and hire candidates from minority communities
- Introduced the Bloomberg Veterans Impact Program, which aims to enhance how we recruit, keep, and advance veterans’ careers at Bloomberg
- Introduced a complete women’s health program in the UK to make women’s health normal at work, reduce discrimination, and provide ongoing support
Promoting Social Change
- Created a unique data tool to evaluate the potential impact of a company’s business on any of the United Nations’ 17 Sustainable Development Goals (SDGs)
- More than 19,000 employees offered their services in their communities
- Provided over 2.8 million meals and over 79,000 care kits to those in need
- Expanded cross-regional programs to clarify financial services and encourage women and minority communities to think about careers in finance
- Helped narrow the digital gap through mentoring interactions and by promoting employee-funded support for open-source software
- Supported varied voices in media and the arts by diversifying our news sources and extending programs to strengthen financial journalism
The Impact Report is third-party verified, and has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) standards specific to our industries and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), and it incorporates select content from the CDP (formerly known as the Carbon Disclosure Project). The 2023 Impact Report can be viewed and downloaded at www.bloomberg.com/impact, along with the GRI Content Index and SASB Disclosures.
