Using Data for Good Is Good for Business

Originally posted on Baseline Magazine

Can doing good be good for business? Bloomberg, the financial data company, measures a firm's sustainability in terms of its social and environmental impact.

We hear a lot about businesses looking for ways to tap into data to make better decisions. For Bloomberg, financial data is not just about the numbers that make up corporate profits. It's also about the metrics of a company's sustainability in terms of its social and environmental impact.

A recent Bloomberg article, "Sustainable Investing Is Booming. Is It Smart?" details the rise in "SRI (socially responsible investing) and ESG (environment, social and corporate governance)." Citing the Forum for Sustainable & Responsible Investment, the article points to a jump of 28 percent for "U.S. investment funds incorporating ESG criteria" whose assets have grown more than fourfold to $4.3 trillion in the two-year period ending in 2014.

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