Bloomberg L.P. Publishes Comprehensive Sustainability Report
Findings Include Greater than 20% Reduction in Emissions Intensity, Millions of Dollars Saved, Successful Expansion of Sustainability-Related Products for Wall Street
NEW YORK--(BUSINESS WIRE)-- Bloomberg L.P. released its first comprehensive Sustainability Report today, providing an in-depth look at the financial services company’s work in sustainability. The report is the third of its kind produced by Bloomberg, and the first to be released publicly. The report, entitled The Sustainability Edge, is available online at: http://www.bloomberg.com/about/bsustainable.
Bloomberg began formally looking at Sustainability as a business issue five years ago, determining that adoption of a strong policy was consistent with the company’s forward-thinking culture and pioneering approach to business. Since then, the program has evolved from an employee engagement platform and highly-effective management tool, to a unique source of innovation and opportunity.
Bloomberg’s efforts include leveraging its core expertise to integrate sustainability information into business decision-making for its expanding customer base. In 2008, Bloomberg began to integrate Environmental, Social and Governance (ESG) data into its equity platform. And in 2009, the company acquired New Energy Finance, the leading provider of clean energy and carbon markets information.
“It is not only important for companies to develop sustainability strategies, but also to report on their results,” said Peter Grauer, Chairman of Bloomberg L.P. “Disclosure, transparency and access to information are critical drivers of shared knowledge surrounding sustainability. As members of the global business community, it is our responsibility to ensure this information is made available — and to elevate the conversation.”
“We’ve reviewed Bloomberg’s offerings and made significant enhancements to news coverage, equities analysis and environmental markets products,” said Daniel Doctoroff, President of Bloomberg L.P. “We are well positioned to integrate useful sustainability data and analysis into the valuation and decision-making process of the capital markets. And Bloomberg’s new products in energy, law and government address sustainability issues for their targeted community of users.”
The report highlights a number of achievements:
- In the past 3 years, Bloomberg has initiated over 300 sustainability projects in 24 countries
- BLP Core business CO 2e emissions were 145,914 metric tonnes, down 2.4% from 2007 emissions
- Core emissions normalized by revenue decreased by over 20% against the company's 2007 baseline
- Every $1 spent on sustainability, saves $2 in operating costs Bloomberg's sustainability efforts have resulted in over $25 million in net savings since 2008
- Bloomberg Markets and Bloomberg Businessweek are printed on paper from sustainable forests (FSC certified)
- Over 5,000 users in 29 countries have accessed more than 50 million sustainability data sets from the Bloomberg Professional service
- All new PCs and flat panels shipped to customers are Energy Star
- Bloomberg has avoided ~ 83k metric tonnes of CO2e since 2008, the equivalent of emissions from burning 410 railcars of coal
- Nearly half of Bloomberg's 13,000+ employees will sit in LEED Certified office space by 2012
- Bloomberg diverted 59% of its waste from landfills via recycling and composting programs
- Bloomberg.com carried 1,976 stories on clean energy and environmental issues in 2010
- In the past 3 years, Bloomberg News has won 43 journalism awards related to its coverage in social and environmental issues
Ceres, a national network of investors, environmental groups and other organizations, works with companies to address sustainability and climate change issues and collaborated with Bloomberg on their efforts. “Robust stakeholder engagement is critical for companies that are looking to integrate sustainability leadership and innovation across their entire enterprise,' said Mindy Lubber, president of Ceres. 'It helps them identify risks and opportunities before their peers. It's a competitive advantage. It's an especially welcome development to see private companies like Bloomberg embrace the value of this approach.'
The Bloomberg Sustainability report was prepared using the Global Reporting Initiative (GRI) G3 Guidelines. GRI, the world’s most widely used sustainability reporting framework, provides guidance to a wide range of interested parties – businesses, investors, non-profits, governments, communities and others – on how the reporting organization manages their commitment to sustainability. The report has been assessed as application level B+, reflecting a strong adherence to the G3/G3.1 Guidelines, a high degree of transparency and externally assured its carbon–related data.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength-delivering data, news and analytics through innovative technology, quickly and accurately-is at the core of the Bloomberg Professional service, which provides real time financial information to more than 300,000 subscribers globally. Bloomberg's enterprise solutions build on the company's core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. Through Bloomberg Law, Bloomberg Government and Bloomberg New Energy Finance, the company provides data, news and analytics to decision makers in industries beyond finance. And Bloomberg News, delivered through the Bloomberg Professional service, television, radio, mobile, the Internet and two magazines, Bloomberg Businessweek and Bloomberg Markets, covers the world with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries. Headquartered in New York, Bloomberg employs more than 13,000 people in 185 locations around the world.