Bloomberg Named Most Innovative ESG Data Provider
We are pleased to announce Bloomberg has been named Most Innovative ESG Data Provider at the A-Team Innovation Awards 2022. These awards celebrate innovative projects and teams delivering high-value solutions for financial institutions. Award winners are selected by A-Team’s editorial team and independent Advisory Board.
Complying with evolving ESG regulations has become a top priority for financial market participants (FMPs), in particular the European Union’s EU Taxonomy and Sustainable Finance Disclosure Regulation (SFDR). To help firms comply, Bloomberg has built leading ESG regulatory data solutions, which provide structured access to a wide set of reported and estimated data to meet extensive disclosure and stakeholder requirements.
“Bloomberg’s ESG regulatory disclosure datasets have been designed to distill, streamline, and tailor vast amounts of ESG and financial company data. We aim to not only enable compliance but also to help clients take a strategic approach with their data to benefit their business,” said Rokhsana Saddighzadeh, Global Product Manager for Sustainable Finance Regulation at Bloomberg. “Bloomberg has solutions for a large range of global regulations and has been working in this space for over a decade. Modelling data for ESG requirements is a natural next step for us. We’re honored to be recognized for our unique approach to helping clients meet ESG disclosure demands.”https://player.vimeo.com/video/689329710?autoplay=1&background=0&loop=0
Bloomberg’s EU Taxonomy data solution enables firms to assess the proportion of their investment revenue that is Taxonomy-eligible and Taxonomy-aligned. Bloomberg does this by using company-reported EU Taxonomy data and, for companies outside the EU, provides estimates on up to 45,000 companies globally. These estimates significantly expand the limited scope of European companies mandated to report EU Taxonomy data enabling firms to have a more comprehensive view of the “greenness” of their investments. Bloomberg’s estimated EU Taxonomy data closely adheres to the regulatory technical specifications and maps company-reported data to each criteria to output EU Taxonomy-ready data.
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Bloomberg also helps investment firms with SFDR reporting, in particular the challenging disclosure of Principle Adverse Impact (PAI) indicators, for which many corporations do not currently disclose meaningful data. Bloomberg maps the SFDR’s PAI requirements to ESG data on over 12,600 companies in more than 100 countries, covering 88% of global market cap. Another key part of SFDR assessment is understanding the carbon footprint of the underlying portfolio investments. Since reporting on carbon emissions is not standard practice yet, Bloomberg provides a combination of as reported and estimated carbon emissions for over 50,000 global public and private companies. Bloomberg’s transparent carbon emissions estimate model uniquely provides a distribution and confidence score showing the quality and availability of data for each estimate.
As other jurisdictions closely follow the EU in establishing regulatory frameworks around sustainable finance, our ESG data solutions are continuously updated to meet the needs of today and into the future. Bloomberg’s ESG regulatory data solutions are available to Enterprise Data clients via Data License and to Bloomberg Terminal users.
“There are incredible innovations in the world of capital markets data and technology. Our A-Team Innovation Awards 2022 celebrate and reward those companies at the forefront of innovation within our industry,” said Angela Wilbraham, CEO of the A-Team Group, who hosted the A-Team Innovation Awards 2022. “We congratulate Bloomberg in winning the Most innovative ESG data solution award in recognition of their excellence in driving forward progress in capital markets capabilities.”
To see the full list of winners in A-Team Group’s Innovation Awards, click here.