3bl logo
Subscribe

By signing up you agree to our privacy policy. You can opt out anytime.

Eco-design, Energy Efficiency, CSR Practices, and Good Governance Reported at Bloomberg

Words by Brian Collett
Leadership & Transparency
hero

 

Bloomberg's new London HQ

Efficiency and environmental measures have cut carbon dioxide emissions by 834,209 tons in nine years reports Bloomberg, the Manhattan-based financial, software, data and media company.

As a result, operating costs have been reduced by an impressive $103m (£74m, €84m).

The emissions statistics are among the ethical achievements listed in Bloomberg’s 2017 impact report.

Another environmental bouquet is awarded for the company’s new European headquarters in London. The center received the highest design-stage rating of any large office development in the world from the UK Building Research Establishment assessment method for sustainable constructions.

At the same time five new Bloomberg offices were certified by the US Leadership in Energy and Environmental Design (LEED) system, the world’s most widely used rating body for green buildings.

The company’s customers are also showing increases in sustainability and CSR practices. Bloomberg reports that 14,935 used its environmental, social and governance data last year, 22 per cent more than in 2016.

More success is recorded for the company’s gender gap efforts. Membership of its gender equality index, which supports its work with companies in observing how they are moving women up the promotion ladder, has doubled in a year to 104. These members range over ten sectors in 24 countries and regions.

Still on the gender theme, the Bloomberg News section of the group, under its “Women’s Voices” project, increased its number of female experts and officials in stories and broadcasts. The company says the program continues to expand.

Bloomberg is equally proud of its record on pensions. During the past year the company became the first US-based corporate retirement plan sponsor to build the UN’s six Principles for Responsible Investment into its investing practices.

Employees have flown the company flag, too. In 2017 more than 12,000 of them in 92 of the world’s cities gave more than 145,000 hours’ service helping the disadvantaged, strengthening communities, protecting the environment and volunteering for various social duties.

Curtis Ravenel, the group’s head of sustainable business and finance, said: “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.”

Ravenel goes on to highlight Bloomberg’s contribution to the international Task Force on Climate-Related Financial Disclosures, which develops financial risk transparency to inform company stakeholders.

The task force was formed by the Financial Stability Board, which itself was created by the G20 nations to monitor the global financial system and make recommendations. The board is chaired by Mark Carney, governor of the Bank of England. Bloomberg has integrated the task force’s principles into its impact report.

Photo: Bloomberg

Brian Collett

More stories from Leadership & Transparency