Bloomberg 2017 Impact Report Adopts TCFD Recommendations Including Scenario Analysis; And Highlights Innovative New European Headquarters
Bloomberg's 2017 Impact Report integrates for the first time the recommendations of the FSB Task Force on Climate-related Financial Disclosures (TCFD). A dedicated section on climate -related scenario analysis explores Bloomberg's business strategy under a 2° or less Celsius scenario and under a scenario in which no concerted action is taken to mitigate climate change.
Additionally, our annual report highlights Bloomberg's business approach to sustainability, which has resulted in more than 100 million USD in operational cost avoidance over the past decade and the integration of sustainable finance considerations into our products and services. The report also features an introductory letter by Mike Bloomberg and a series of case studies demonstrating how sustainability is integrated throughout the firm.
“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,” said Curtis Ravenel, Global Head of Sustainable Business & Finance at Bloomberg. “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.”
Highlights from the 2017 Impact Report include:
- 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.
- 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.
- 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 Bloomberg Impact Report has been third party verified, and is in accordance with GRI (Global Reporting Initiative) and SASB (Sustainability Accounting Standards Board) frameworks.
A downloadable PDF version of the Impact Report, which includes 2017 highlights, is available at www.bloomberg.com/impact. More in-depth content and additional data across Bloomberg's product, operations, and people categories, including our GRI and SASB frameworks, and other supplemental information can also be found on the website.
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