Commercial, Energy Efficiency, GHG Emissions, Commercial  -  May 8, 2024

Bloomberg Lowers Emissions by 21%, SBTi Validates Long-Term Goals

Bloomberg, a financial data provider, received validation from the Science Based Targets initiative (SBTi) for the company’s long-term science-based net-zero target to reach net-zero GHG emissions across its value chain by 2040.

The company also made progress toward its SBTi-validated, near-term, science-based carbon emissions reduction targets, with 21% Scope 1 and 2 reductions and 27% Scope 3 reductions, and obtained 62.2% of its global electricity consumption from renewable sources.

As published in its 2023 Impact Report, Bloomberg also signed an 80-MW Power Purchase Agreement (PPA) — its largest PPA to date — with clean energy developer Ørsted. 

“We’re working to increase access to data and information that helps investors and policymakers make informed decisions that both grow the economy and help catalyze investment in a clean energy future.” said Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies, in a statement. “And, through our support of industry initiatives such as the Glasgow Financial Alliance for Net Zero, we advanced our work providing resources to financial firms to help them measure and manage emissions across their portfolios.”

The company also enhanced its solutions for disclosure, reporting and analysis against key regulatory frameworks, introduced new indices within the Bloomberg Climate Index family — including the new Bloomberg Commodity Carbon-Tilted Index — and released new Bloomberg Terminal tools for analyzing physical risk and net-zero transition risk.

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