2 0 2 1 I M P ACT R E P O R T

Taking Action
Here's how we'releading efforts to shapea sustainable future.

Contents

Approach

Approach

Environmental impact

Social impact

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Message from Mike

03

About this report

04

About Bloomberg L.P.

05

Governance

06

Stakeholder engagement

07

Risk management

08

Climate scenario analysis

10

Materiality assessment

15

Sustainability strategy

17

Reducing our emissions

19

Supporting climate action

30

Investing in our people

49

Driving social change

58

2021 Impact Report2Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Message from Mike.
We need all hands on deck to solve the challenge of climate change.

Climate change is not a problem with a single solution. And it’s not a challenge thatany one group — governments, companies, scientists or individual citizens — can solve
alone. To cut carbon emissions fast enough to avoid the worst impacts of a warming
planet, we need all hands on deck, addressing the challenge from different angles
and working together.
At Bloomberg, we’re taking action on multiple fronts — through our company’s
operations and products, our philanthropy and our collaborations with partners andindustry peers.
In 2021, the United Nations’ COP26 climate conference brought countries together
to advance strategies for tackling the climate crisis. Ahead of the summit, we worked
with other businesses to raise climate ambitions across the financial system andsupported the UN’s efforts to incorporate non-state leaders and organizations into
the climate process through its Race to Zero and Race to Resilience campaigns.
The climate talks affirmed that the private sector has a central role to play infinancing the global transition to clean energy, especially in emerging market
countries, which need trillions of dollars of investment to build sustainableinfrastructure and increase adoption of clean energy. We’re leading a numberof efforts to unlock private-sector investment in clean energy and low-carbon
solutions, including the Climate Finance Leadership Initiative, which has launched
a new program that will bring public and private institutions together to fundclean energy projects in countries like India and Colombia.
Climate-risk disclosure is one of the most important tools we have to mitigate climatechange, because it empowers businesses and investors to make informed decisions
and drives more investment to companies and industries that are helping address
the crisis. Over the past year, global momentum has grown behind a reporting
framework developed by the Task Force on Climate-related Financial Disclosures(TCFD), which I chair and Bloomberg is leading. More than 3,200 organizations
now support the framework, and it’s been endorsed by the G20. Standardizing risk
disclosure and public accountability for climate action will accelerate the transition
to a low-carbon economy, and the TCFD framework can show the way.

GRI: 2-22

In our own operations, we continue to move our company closer to net-zero carbon
emissions, following the latest climate science to ensure that our efforts align with
global action to limit temperature rise to 1.5°C above pre-industrial levels. We’realso offering customers more environmental, social and governance (ESG) data andresearch and developing new tools to help investors better assess climate-relatedrisks and opportunities.
Our company is also leading through our philanthropy and service. More than 12,000
Bloomberg employees participated in volunteer work in their communities in 2021,
including planting 11,390 trees and protecting local green spaces. In addition, virtually
all of our company’s profits go to fund the work of Bloomberg Philanthropies, whichlast year stepped up its efforts to move the world off coal. Working with partners, wehave already helped retire two-thirds of coal-fired power plants in the U.S. and half in
Europe. Our new initiative aims to close a quarter of the world’s remaining coal plants
by 2025 and block the more than 500 that are being proposed.
At the same time, we’re helping city leaders around the world take action and shareeffective strategies for addressing climate change. Cities account for the majorityof the world’s carbon emissions, and by accelerating their progress and championing
their efforts, we can push national leaders to aim higher and act faster.
The steps we take to fight climate change also grow the economy, create jobs,
clean the air and improve public health. Working together, we can not only preventthe worst from happening, but also build a healthier and more sustainable future forthe generations to come.

2021 Impact Report3Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

About this report.
Bloomberg L.P.’s 2021 Impact Reportprovides an overview of our company’ssustainable business activity.

The report features content from
Bloomberg L.P. and our subsidiaries
and affiliates describing business,environmental and social issues thathave a direct and significant impact
on our company, our employees andour strategic partners, as well as issues
that our organization has a unique
opportunity to influence. The content
is shaped by a formal materiality
assessment, refreshed in 2020,
that takes into account stakeholder
perspectives as well as global
megatrends such as climate change,social justice and health challenges.
Our business units and operational
divisions provided content and data forthis report. The annual data presented
in this report and on our Impact Reportwebsite covers our 2021 fiscal year
(January 1 to December 31, 2021).
This report has been prepared inaccordance with the GRI Sustainability
Reporting Standards; the Sustainability
Accounting Standards Board (SASB)
standards and its industry-specificaccounting standards; the Task Forceon Climate-related Financial Disclosures(TCFD) recommendations; and selectcontent from the CDP.

GRI: 2-2, 2-3, 2-5

In addition, we consulted with
the World Business Council for
Sustainable Development (WBCSD)
to ensure that our 2021 Impact Reportfollows sustainability reporting bestpractices. As a member company of
the WBCSD, we have agreed to adhere
to the new WBCSD membership criteria
by December 2022.
Bloomberg is a signatory of the
UN Global Compact, incorporating
the Ten Principles of the UN Global
Compact into our business. Bloomberg
is also a signatory of the Principles
for Responsible Investment (PRI),
demonstrating our commitment
to responsible investment.
The sustainability data, disclosuresand claims in this report have beenverified by Cventure LLC.
What do those small gray numberson the bottom of each page mean?
Where the report fulfills specific GRIor SASB standards, we note the standard
on the corresponding page. View our full
GRI Content Index and SASB Disclosure
at bloomberg.com/impact.

2021 Impact Report4Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

About Bloomberg L.P.
Bloomberg, the global business and financial informationand news leader, gives influential decision makers
a critical edge by connecting them to a dynamic networkof information, people and ideas.
Our company

Our business philosophyOur products

Our operationsOur people

Bloomberg L.P. is a privately
held limited partnership
headquartered in New York City.
We have approximately 21,000
employees based in 161 locations
around the world, with primary
offices in the United States,
the United Kingdom, Germany,
Japan, China, Hong Kong (SAR),
Singapore, Australia, Brazil, India
and the United Arab Emirates.

Since its founding in 1981,
Bloomberg has been guided
by the principle that transparent
markets empower investors,
fuel entrepreneurs and support
economic growth. Better data
leads to better decisions.

Bloomberg
Professional Services

Our business operates
in 5.5 million owned andleased square feet of spacein 72 countries, including
3 significant data centers
crucial to our operations
and customers, 16 television
studios, 10 radio studios and6 printing facilities.

Our employees include
engineers, developers, data
scientists, product designers,
journalists and professionals
in corporate roles.

Moving forward, the world
needs sustainable economic
growth; we have evolved
our mission to provide ourclients with the data they needto navigate the changing landscapeand successfully transition
to a low-carbon economy.

The vast majority of the profits
from Bloomberg L.P. goesto Bloomberg Philanthropies,
which works to improve the lives of
millions of people around the world.
GRI: 2-1, 2-6, 2-7
SASB: TC–IM–000.A; SV–ME 000.A; SV–ME–000.B; SV–PS–000. A

Bloomberg Professional
Services — the Bloomberg
Terminal® and our enterprisedata management andintegration services — provide
real-time data, breaking news,
in-depth research, powerful
analytics and world-classexecution capabilities tohelp financial professionals
make smarter, faster andbetter-informed decisions.
News & media
Bloomberg Editorial & Researchdraws on the work of 2,700
journalists and analysts across
120 countries. Bloomberg Media,
the company’s consumer-facing
media organization, delivers
a suite of content, products
and strategic marketing services
that connect audiences to ideas
and intelligence across every
platform — digital, TV, streaming
video, radio, print and events.

We publish three magazines,
Bloomberg Businessweek,
Bloomberg Markets andBloomberg Green, printing
and distributing 15 million
copies globally in 2021. In atypical year, our employees
travel a significant number ofmiles to conduct business,but the COVID-19 pandemic
continued to restrict thisactivity in 2021.

The vast majority of the profits
from Bloomberg L.P. goesto Bloomberg Philanthropies,
which works to improve the livesof millions of people aroundthe world.

To learn more about Bloomberg,
visit bloomberg.com/company.

2021 Impact Report5Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Governance.

Workplace Operations

Our company’s leaders drive
our sustainability efforts.

Business continuity planning

Building efficiency & resiliency

Bloomberg’s Management Committee oversees corporate
strategy and operations. The Management Committee consists ofeight members: the company Founder, Co-Founder, Chair, Chief
Commercial Officer and Chief Product Officer (who both also serve
as a Vice Chair of Bloomberg L.P.), Chief Enterprise Officer,
Chief Legal Officer and the CEO of Bloomberg Philanthropies.1
Responsibility for sustainability is embedded into relevantbusiness units, including External Relations, Human Resources,
Chief Risk & Compliance Office, the Sustainable Finance Solutionsgroup in our Core Product division and Workplace Operations& Supply Chain. Each business head is responsible for formulating
the company’s sustainability strategy for their business unit,
including addressing climate-related risks and opportunities.
The Management Committee is consulted and updated ona regular basis and provides direction and resource allocation.
Climate-related governanceBloomberg considers short-, medium- and long-term climate-relatedrisks and opportunities at the Management Committee level.
Internal sustainability professionals develop climate-related targets
and strategies to mitigate risks and foster opportunities acrossthe organization.
Operations develops infrastructure and business continuity plansto ensure that the company will be resilient in the face of physicalrisks posed by climate change. Business units identify opportunities
and develop climate-related products and content in response
to a market in transition to a low-carbon economy. The External
Relations department runs a Climate Workstream that regularly
convenes meetings for employees across the firm working on
climate-related issues; this group helped develop Bloomberg’s
strategy for supporting COP26.
We disclose our governance around climate-related risks andopportunities in accordance with the recommendations of the
FSB Task Force on Climate-related Financial Disclosures (TCFD).
1

GRI: 2-9, 2-13

The functional roles represented
on the board changed in 2021.

Driving social change

Employees &Community
Investing in people

Facilities & data centers

Benefits

Pantry & food services

Corporate Philanthropy

Renewable energy

Diversity & Inclusion

Supply chain

Leadership & Talent Development

Waste management

Products

Michael R. Bloomberg

Delivering ESG information,
tools, research & news

Founder, Bloomberg L.P. andBloomberg Philanthropies

Bloomberg Industry Group
Bloomberg Government
Bloomberg Law
Bloomberg Tax

UN Secretary-General’s Special
Envoy on Climate Ambition
and Solutions

Editorial & Research
Bloomberg Economics
Bloomberg Intelligence
BloombergNEF
Bloomberg News
Financial Products
Analytics
Data
Indices
ScoresGlobal Ambassador for Race to Zeroand Race to Resilience

Sustainability
at Bloomberg
Sustainability is embeddedin the Bloomberg ecosystem

Global Advisor to The Earthshot
Prize Winners
President of the Board, C40 Climate
Leadership Group
Co-Chair, Global Covenant ofMayors for Climate & Energy
Co-Chair, America Is All In

Media
Bloomberg Digital
Bloomberg Live
Bloomberg New Economy
Bloomberg Quicktake
Bloomberg Radio
Bloomberg TV

Co-Chair, Glasgow Financial Alliancefor Net Zero (GFANZ)
Chair, Task Force on Climate-related
Financial Disclosures (TCFD)
Chair, Climate Finance Leadership
Initiative (CFLI)
Chair Emeritus, the Value
Reporting Foundation

Bloomberg
Philanthropies

Government
Relations & Policy

Taking action to protect the planet

Scaling up transparency & climate financeGlobal Clean Energy Transition

Climate Finance Leadership Initiative (CFLI)

Local Climate Action

Glasgow Financial Alliance for
Net Zero (GFANZ)

Air Quality
Sustainable FinanceVibrant Oceans

Task Force on Climate-related Financial
Disclosures (TCFD)

2021 Impact Report6

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Stakeholder engagement.
Our stakeholders help shape our sustainability efforts
by sharing valuable feedback on new ideas, best practices,
emerging technologies and industry trends.
Stakeholder

Engagement channels

Top issues

Our response

Customers• Periodic customer surveys• Expansion of quality ESG data sets

• Clarifying climate risks and opportunities• Market research• Workflow tools that incorporate ESG factors into

• Reporting on the business and science ofBusiness and financial services professionals,
corporations, policymakers• Customer education• Help desk tickets• Sales visits• Market-led initiatives and events

investment decisions• Analytics that enable benchmarking sustainability
efforts against peers• Research to keep informed of trends

climate change• Advancing the conversation• Strengthening market-driven action on climate• Promoting an inclusive global economy• Customer advisory groups• Philanthropic partnerships

Employees
Engineers, developers, data scientists, productdesigners, journalists, professionals in corporate roles• Events and training• A diverse, equitable and inclusive culture• Creating a culture where innovation can thrive• Emails and newsletters• Programs, policies and benefits that support• Activating every employee’s potential• Surveys• Diversity & Inclusion (D&I) communities

and champions• Sustainability Squads• Employee giving and volunteer programs

Suppliers

work-life success, health and well-being• The company’s response to climate change andimpact on the community• Helping employees thrive• Making connections• Carbon emissions reductions and targets• Protecting the planet• Addressing the world’s most pressing needs• Supplier Code of Conduct• Security of IT systems and data storage• Risk management• Sustainability requirements in relevant RFPs

• Supplier diversity• Promoting an inclusive global economy• Sustainability of materials and products• Carbon emissions reductions and targets• Supply chain disruptions, lead times and• Facilities

Hardware and furniture manufacturers, energy
suppliers, facilities suppliers, retailers, external
corporate services agencies, consultants, software
vendors, benefits vendors, travel vendors

and master service agreements• Monthly and quarterly business reviews• Vendor performance assessments

Corporations• Gender equality reporting framework• Attracting talent• Clarifying climate risks and opportunities• Corporate Advisory Board• Gender equality• Reporting on the business and science of• Bloomberg and industry events• Social impact• Industry associations• Climate risks and opportunities• Emails and newsletters• ESG disclosures

C-suite, HR, sustainability teams, risk managers,
investor relations

freight options• Sustainable operations, including building
certifications and sustainable travel programs• Business activities

climate change• Advancing the conversation• Strengthening market-driven action on climate• Driving measurable, local action on climate change• Promoting an inclusive global economy

Communities
Local, national and global nonprofits, educational
and art institutions

GRI: 2-29• Meetings• Social and economic inequality• Strengthening market-driven action on climate• Strategic long-term relationship management• Unequal access to data and technology• Driving measurable, local action on climate change• Campaign development and support• Climate change• Promoting an inclusive global economy• Grants• Health crises and disasters• Expanding access to data and technology• Volunteering• Supporting diverse voices in media and the arts

• Events, forums and conferences• Addressing the world’s most pressing needs

2021 Impact Report7

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Risk management.
We identify, assess and manage risks for our products,
operations and people to enhance our sustainability.
Bloomberg is committed to appropriately managing risk and minimizing the impactof risk on the achievement of business objectives.

Here’s how we manage risk around some of our key material issues.

Bloomberg views risk management as an integrated business process essential
to the overall success of the business. Risk management is incorporated into
standard management processes such as business planning, investment analysis,
project management, operational management and management reporting.

Products

Our employees take a proactive approach toward the identificationand management of risks throughout their day-to-day activities.

Businessplanning

Investment
analysis

Management
reportingRiskmanagement

Projectmanagement

Operational
management

GRI: 2-23, 2-27, 201-2, 205-1, 206-1, 308-1, 308-2, 408-1, 409-1, 414-1, 414-2, 418-1
SASB: TC–IM–220a.1—a.6; TC–IM–230a.1—a.2; SV–PS–230a.1—a.3

Information security

Data privacy

Bloomberg’s Chief Information Security
Office (CISO), a division of the Chief Risk
& Compliance Office, works to minimize
the likelihood and impact of cyber attacks
and data incidents on Bloomberg systems.

Bloomberg is committed to compliancewith our privacy obligations throughout
the world. We respect the privacy rightsof our users and are strongly committed
to protecting our users’ information.

Three CISO teams — Product Security,
Threat and Vulnerability Management
and the Cyber Security Operations
Center — manage threats. Product
Security conducts security code andarchitecture reviews, testing and training
to ensure that Bloomberg products andsystems are built to reduce the number
and severity of vulnerabilities.

We restrict employee access to systems
and data, allowing access where it isrequired for carrying out employees’roles and responsibilities. The privacy
notices we provide explain our personal
data collection, use and disclosure
practices. All employees receive
mandatory data privacy training.

Threat and Vulnerability Management
continuously identifies, assesses andreports on vulnerabilities, working withstakeholders across the organization
to prioritize and guide remediation
efforts. The Cyber Security Operations
Center monitors cyber-security eventsand provides incident management
services, including security event triage
and escalation. CISO also provides
mandatory annual information security
training to all employees as well
as specialized training for employees
in certain roles.

2021 Impact Report8

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Risk management.
Operations

PeopleBusiness continuity

Climate risk

Business ethics

Unanticipated events such as flooding,fires and epidemics and anticipated
events such as hurricanes and politicalactivity may disrupt business activities
and affect Bloomberg facilities,
infrastructure, personnel, products,
services and/or functions. Bloomberg’s
Incident and Business Continuity
Management team systematically
identifies, analyzes and evaluates therisk of business disruptions to thecompany; designs, implements andtests our business continuity strategies;
and responds to incidents that may
compromise normal operations.

As the climate changes, natural disasters
such as hurricanes, droughts and wildfires
are becoming more common, sea levels
are rising and ecosystems are being
disrupted. These physical risks present
our business with potential threats
to assets, infrastructure and operations.
Bloomberg assesses risks to existing
facilities and potential new locations
through a systemic risk assessment
process that includes horizon scanningand peer review, in addition to
implementing mitigation and resiliency
measures to ensure the safety of ouremployees and uninterrupted service
to our customers. These measures include
infrastructure upgrades and renewableenergy procurement as well as delivering
personal protective equipment to ouremployees during air-quality crises andother disasters.

The Bloomberg Global Core Guide
provides employees with information
about their employment terms, benefits
and responsibilities. These clear andtransparent ethical standards serveas the foundation for our work culture
and create an environment in which
our employees can do their best work.

Our business continuity tools andprocesses protect the integrity of
our operations and allow us to continue
supporting clients while resolving
interruptions as quickly as possible.

In 2021, we conducted a firmwide
climate scenario analysis exercise withour business leaders to identify climaterelated risks to our business in the short,medium and long term.

Our Supplier Code of Conduct
and Sustainable Operating Guidelines
ensure that we source goods and services
from vendors who operate in a responsible
and sustainable manner.

Bloomberg takes allegations of
misconduct seriously and does nottolerate retaliation against employees
who raise ethical concerns in good faithor assist with investigations. Employees
and non-employees who wish to submit
concerns about ethical misconduct
anonymously can do so throughour Bloomberg Ethics Hotline.
Behavioral standards
Bloomberg requires employees to
conduct themselves and our businessat the highest ethical level, with integrity
and within guidelines that prohibit
actual or potential conflicts of interestor the perception of impropriety.
All employees must complete mandatory
training, including sessions on Bloomberg’s
anti-bribery and corruption policy,
our social media standards, our antiharassment and anti-discrimination
policies, sanctions compliance andavoiding conflicts of interest.
Bloomberg maintains a number ofpolicies, including the Bloomberg
Employee Code of Conduct and Ethics(part of the Global Core Guide), theJournalistic Code of Conduct and
The Bloomberg Way, that set out thestandards we expect our employees tofollow. The Bloomberg Way spells out
our guiding principles of transparency,
accuracy and integrity for the News
organization. Everyone across theorganization involved in news gathering
receives our code of conduct, which
they are required to sign in addition toreceiving training covering ethics,
conflicts of interest and fairness issues.
Human rights
Bloomberg complies with all applicablelaws and regulations protecting
employees’ rights to unionize in theworkplace as well as laws on modern-day
slavery, including forced and child labor.
We strive to ensure there is no modern
slavery or human trafficking in our supply
chain or any part of our business.
Supply chain
Our Supplier Code of Conduct andSustainable Operating Guidelines ensurethat we source goods and services fromvendors who operate in a responsible
and sustainable manner. Bloomberg
is committed to working with ourvendors to operate an efficient andsustainable supply chain that supports
corporate responsibility, creating
long-term value and mitigating risk.

2021 Impact Report9Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Scenario analysis.
Climate change poses both risks
and opportunities for business.
To better understand the potential effects of climate change on our company anddetermine the best path forward for our business, Bloomberg conducts formal
climate scenario analysis with our business leaders every few years.

Our process involved the following steps:•

In 2021, we partnered with global sustainable business nonprofit BSR to consider
the strategic implications of three possible climate-related futures unfolding
over the next 30 years. Since some of the most salient strategic implications ofscenario analysis are uncertain and hard to quantify — but no less real for that —we approached this process as a holistic strategic conversation rather thana narrow accounting exercise.

How to read our scenario analysis

11

Net Zero 2050 scenario

12

Delayed Transition scenario

13

Current Policies scenario

14•

Scenario development: BSR provided
three climate scenarios developedby the Network for Greening the
Financial System to serve as ourbase scenarios and extended eachnarrative to reflect how a range ofbusiness-relevant topics, including
social and political events, mightplausibly play out in each of thesethree scenarios.
Identification of climate-related risks
and opportunities: We convened five
workshops involving approximately
20 Bloomberg participants fromdiverse functions to analyze thebusiness impacts of the three
scenarios and identify risks andopportunities for Bloomberg.

••

Strategic implications: We helda cross-functional workshop withinternal Bloomberg stakeholders
to validate our risk and opportunity
assessment, identify ideas forenhancing resilience and help
refine our strategy around the mostdisruptive issues common to thethree scenarios.
Action planning: We hosted a
final workshop to identify next
steps for improving Bloomberg’s
climate resilience.

In all three scenarios, Bloomberg’s business strategy positioned the company
to perform well due to increasing demand for climate-related data, news andinformation; products that help clients to navigate uncertainty; and a relatively
light and agile physical footprint. Four key areas of risk for the company emerged:
supply chain and procurement; physical presence and workplace; management andgovernance of climate risks; and continued investment in building resilience. We also
spotted several areas of opportunity around new climate- and ESG-related products.
In the coming year, we plan to perform deeper quantitative analysis to better defineand strengthen our response to these topics. These scenario insights have been
incorporated into our strategy and risk management processes.

GRI: 201–2

2021 Impact Report10Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

How to read our scenario analysis.
In 2021, we looked at the viability of Bloomberg’s strategies under three divergent climate scenariosthat will be determined by policy and technology choices made over the next ten years.
The scenarios we considered were:
Scenario

Impact of transitionand physical risks

Net Zero 2050

Delayed Transition

Current Policies

Stringent climate policies and innovation,
reaching global net-zero GHG emissions
around 2050

Climate policies are delayed, which forcesa very aggressive policy response startingin 2030

A recovering economy fully embracing the
low-carbon transition in a cooperative way,
still subject to environmental shocks

Low to medium physical risks

Low to medium physical risks

High physical risks

Low to medium transition risks

Medium to high transition risks

Low transition risks

Temperature assumptions

1.5ºC policy ambition

1.8ºC policy ambition

3ºC+ policy ambition

Policy reaction

Immediate and smooth policy reaction

Delayed policy reaction

No policy reaction

Technology

Fast technology change

Slow to fast technology change

Slow technology change

Carbon dioxide removal

Medium use of carbon dioxide removal

Low use of carbon dioxide removal

Low use of carbon dioxide removal

Regional policy reaction

Medium regional policy variation

High variation in regional policies

Low regional policy variation

Timeline

Impact quantification

We explore impacts between 2020 and 2050 and quantify impacts over shorter timeframes. We use the following categories to indicate when each scenario will mostsignificantly impact each type of risk or opportunity:

We use the following levels to provide a rough assessment of the intensity of financial,
operational and/or reputational impact on our company:•

ST: Short-term (0 - 5 years)•

MT: Medium-term (5 - 10 years)•

LT: Long-term (10+ years)•

Low: ability to absorb financial operational or reputational impact•

Moderate: some impact to finances, operations and reputation•

High: substantial financial, operational, strategic and/or reputational impact

Impact classification

Notes

We use the following categories to indicate where climate-related risks andopportunities might affect Bloomberg financially:

These scenarios are not forecasts or predictions of the future, but a way for us toimagine plausible future worlds and plan for resilience.

•

Tangible assets

•

OpEx

•

Intangible assets•

Revenue•

CapEx

Bloomberg, as a private company, does not release segment financial information
due to confidentiality constraints.

These categories do not reflect accounting treatments, but simply indicate generalareas of financial impact.
2021 Impact Report11Contents

Approach

Reducing our emissions

Net Zero 2050

Low to medium physical risks

Supporting climate action

Investing in our people

Driving social change

Low to medium transitional risks

The view from 2050
The transition to a net-zero economy by 2050 required drastic and coordinated global
action, particularly in the 2020s. While the cost of this action in the 2020s was high as
many industries shuttered and jobs and work locations changed, the ongoing climate
impacts already being felt in the 2020s made clear the cost of inaction. Action was swift
and largely universal, backed by a wave of green tech and high levels of transparency(even surveillance).

Risks

Although global temperatures have continued to rise in the past three decades, thatswift action resulted in warming peaking at 1.6°C in 2050. With the debate on whenand how to act over, climate justice, including responsibility for refugees, reskilling
programs and international climate reparations, has risen to the top of the agenda.

Opportunities

Transition

Impactclassification

Impactquantification

Timeline

Potential result

Policyand legal

CapEx, OpEx

Moderate

ST; MT; LT• Limited access, increased cost and greater
competition to buy clean energy.
• Greater scrutiny and regulation of supply
chains, which may require sourcing products
and services from a reduced number of vendorsthat meet high sustainability standards.

Resource
efficiency andenergy source

Technology

Intangible
assets, OpEx

Moderate

MT; LT• Adapting to unanticipated technologicaldisruptions may be costly and time-consuming.
• Rapid technological development will require
recruitment and reskilling.

Products andservices

MarketRevenue

Moderate

ST; MT; LT• Increased competition for ESG products (i.e.,
increased demand, reduced barriers to entry)
may impact pricing.
• Scrutiny of ESG data and transparency
may become even more important, andstakeholder expectations and compliance with
global frameworks will be more demanding.
• Potential loss of small and medium-sized clientsthat are not able to adapt to this transition.

Markets

Resilience

Physical

Reputation

Intangible assets

Low

MT; LT

Increase in activist pressures and reputational risk
if the public perceives there to be a disconnect
between corporate values and actions.

Acute

Tangible assets,intangible
assets, CapEx,
OpEx

Low to Moderate

ST; MT; LT

Chronic

Tangible assets,intangible
assets, CapEx

Low

LT

• Investment in adapting workplaces to manage
physical impacts on infrastructure and theworkforce until 2035.
• Physical impacts on infrastructure and supply
chains, including damage to offices and data
centers from physical climate impacts(e.g., storms, heatwaves), and operational
challenges in critical geographies.
• Workforce productivity impacts due to potential
constraints on business travel, limited on-theground news coverage, climate disruption
and physical climate impacts and threats toemployee well-being.

Impactclassification

Impactquantification

Timeline

Potential result

OpEx

Moderate

ST; MT; LT

Use of lower-emission sources ofenergy, supportive policy incentives
and new technologies.

Revenue

Moderate

ST; MT; LT

Intangible assets

Low

MT

Increased need for transparent climaterelated risk and opportunity informationfrom companies. Demand for products
and services to address these changes
would accelerate.

• Our philanthropic work, values and ESG
performance attract new talent that wants
to work at “purposeful” organizations.
• Increased Bloomberg activity to support
communities that are being impacted
by climate change and efforts to raise
climate ambition in the financial markets.

2021 Impact Report12

Contents

Approach

Reducing our emissions

Delayed Transition

Supporting climate action

Low to medium physical risks

Investing in our people

Driving social change

Medium to high transitional risks

The view from 2050
A decade of inaction in the 2020s drove mounting public pressure for climate action.
What followed was a set of hasty and reactionary policies in the 2030s that soughtto rapidly halt greenhouse gas emissions and make up for lost time. The disorderly
approach came at high social and economic costs but ultimately led to a halvingof emissions by 2040 and peak warming at 1.8°C by 2050.

Risks

The physical impacts of rising temperatures led to disrupted supply chains, foodinsecurity, mass migration and displacement, reduced economic activity and tradeand social unrest. Companies, which had leaned heavily on voluntary commitments
to climate action, are faced with legal mandates to rapidly reduce emissions withinshort time frames.

Opportunities

Transition

Impactclassification

Impactquantification

Timeline

Potential result

Policyand legal

Intangible
assets, CapEx,
OpEx

Moderate

MT; LT• Greater volatility and unpredictability of
stakeholder expectations; need to adapt
quickly to a rapidly changing, fragmented
regulatory landscape.
• Challenges to operating in regions affectedby social unrest and national emergencies.

Resource
efficiency andenergy source

Technology

Tangible assets,
OpEx

Moderate

MT; LT

Substitution of existing products and services
with lower-emissions options.

Products andservices

PhysicalMarketRevenue

Moderate

MT; LT

Potential loss of client base from countries in
economic crisis resulting from climate-related
disruptions and macroeconomic damage.

Markets

Reputation

Intangible assets

Low

MT; LT

Reputational risk if Bloomberg is seen as
insufficiently ambitious or is not transparent
on ESG performance.

Resilience

Acute

Tangible assets,intangible
assets, CapEx,
OpEx

Moderate

ST; MT; LT

Investment in adapting workplaces to manage
physical impacts on infrastructure and theworkforce until 2035.

Chronic

Tangible assets,intangible
assets, CapEx

Low

MT; LT• Multiple climate-related incidents may affect
employees’ ability to work; coupled witha potential labor shortage, this may lead tostaff capacity issues.
• With ongoing disruptions, we may see a
decline in employee mental health; radical
climate activism and social unrest could
impact employee safety.

Impactclassification

Impactquantification

Timeline

Potential result

OpEx

Moderate

ST; MT; LT

Use of lower-emission sources ofenergy, supportive policy incentives
and new technologies.

Revenue

Moderate

ST; MT; LT

Intangible assets

Low

MT

Increased demand for news, data andinsights to help identify potential inflection
points and products for planning and risk
management.

Bloomberg involvement in influencing
policymaking and shaping the regulatory
landscape to achieve net zero can lead topositive brand perception.

2021 Impact Report13

Contents

Approach

Reducing our emissions

Current Policies

High physical risks

Supporting climate action

Investing in our people

Driving social change

Low transitional risks

The view from 2050
Emissions have steadily grown over the past three decades, reaching 2°C of warmingby 2050. As a result, physical climate impacts have also increased steadily, both inseverity and frequency. The world is on a trajectory to see at least 3.3°C of warming by
2100, and there is now no part of the globe where climate risks do not exist. Despite
this, investment in low-carbon energy remains slow, with limited investments inenergy efficiency. Oil consumption did not experience a decline until 2040 and coalconsumption continues to grow.

Risks

Irreversible physical changes such as sea level rise, desertification and jet stream
perturbation are gathering momentum. As a result, society faces constant climate
disasters, driving $4.1 trillion in GDP loss from macroeconomic climate damage
annually. In some cases, the wealthy can pay to avoid the worst of these, but everyone
else is challenged to adapt. As to be expected, we also see an intensification ofnationalism, trade wars and geopolitical fracturing.

Opportunities

Transition
Physical

Impactclassification

Impactquantification

Timeline

Potential result

Impactclassification

Impactquantification

Policyand legal

Intangible assets

Low

LT

Reduced access to talent in certain regions
and increased risks to employee safety
corresponding to heightened
geopolitical tensions.

Timeline

Potential result

Resource
efficiency andenergy source

Tangible assets,
CapEx, OpEx

Low to Moderate

ST; MT; LT

A slimmed down operational presence(i.e., reduced office footprint, transferring
data storage/processing to the cloud)to increase resilience.

Technology

OpEx

Low

MT

Increased cyber and ransomware attacks
with rising geopolitical tensions.

Products andservices

OpEx, Revenue

Moderate

ST; MT; LT

Development of new products and services
to meet increased demand for real-time
climate data and climate risk management
tools and related news and research.

MarketRevenue

Moderate

ST; MT; LT

Significant disruptions and negative impacts onfinancial markets that disrupt our core client baseand potentially impact our business.

Markets

OpEx, intangible
assetsLow

MT; LT• Ability to recruit more talent due toreskilling and expanded labor pool withincreased movement of people.
• Ability to mobilize Bloomberg’s
philanthropic work to drive climate action
beyond what’s possible within business.

Reputation

Intangible assets

Low

MT; LT

Blame for the climate crisis placed on financial
services companies with which Bloomberg is
associated, affecting the company’s public image.

Resilience

Tangible assets,
CapEx, OpEx

Low to Moderate

ST; MT; LT

A slimmed down operational presence(i.e., reduced office footprint, transferring
data storage/processing to the cloud) toincrease resilience.

Acute

Tangible assets,intangible
assets, CapEx,
OpEx

Moderate to HighST; MT; LT

Physical impacts on infrastructure and supply
chains, including damage to offices and data
centers from physical climate impacts (e.g.,storms, heatwaves), and operational challenges
in critical geographies.

Chronic

Tangible assets,intangible
assets, CapEx,
OpEx

High

MT; LT

Workforce productivity impacts due to potential
constraints on business travel, limited on-theground news coverage, climate disruption andphysical climate impacts and threats to employee
well-being.

2021 Impact Report14

Contents

Approach

Reducing our emissions

Materiality assessment.

Supporting climate action

Drawing on concepts of materiality
in the GRI, SASB, TCFD and
CDP reporting frameworks,
we developed an ESG issues list.

01
Identify
topics

Ceres experts helped us refine thislist based on our specific industry,factoring in megatrends, emerging
issues and the UN Sustainable
Development Goals (SDGs).

Defining the issues that have the most impact on our business —our most “material” issues — through a materiality assessment helps
us shape our sustainability strategy, prioritize our activities andensure that our strategy, business plans and reporting are aligned.

We conducted our most recent materiality assessment in 2020, using
the findings to guide us as we updated our sustainability strategy and set
new 2025 goals. We worked with a third-party partner, the sustainability
organization Ceres, to develop and validate our methodology.
View our materiality assessment on the next page.

Driving social change

Our assessment process

Our approach to sustainability
begins with a question:
What environmental, social andgovernance issues are relevant
to our business and our stakeholders?

In traditional financial reporting, material issues are those thathave a significant impact on a company’s operating performance.
From a sustainability perspective, material issues are those thathave a significant impact on how a company affects the environmentand society. Our materiality assessment includes both ofthese perspectives.

Investing in our people

In addition, we conducted
one-on-one interviews with
19 business leaders acrossthe company, asking themto rank ESG items as
Tier 1
issue

Tier 2issue

Tier 3issue

We followed up with questions
that dug deeper into their
top-tier choices to gain a better
understanding of their businesspriorities and how they intersectwith ESG issues.

We gathered external
perspectives from clients,
suppliers, academics,
NGO and community partners
and industry groups.

02
Gatherstakeholder
input e sought internal andWexternal stakeholder feedback
through surveys that asked
participants to rank our material
issues in three tiers and answer
open-ended questions.
We surveyed a representative
sample of Bloomberg employees
across departments andgeographies, including key
stakeholders across the firm
and members of our regional
Sustainability Squads.

We then calculated anaverage score per issue.

03
Validate
the results

GRI: 3-1, 3-2, 3-3

We analyzed survey results
by stakeholder group, ranking
ESG issues based on survey
responses and comparing acrossgroups to assess any notabledifferences, and incorporated
feedback from open-ended
questions and interviews.

We created several
different cuts of the data
and reviewed our findings
with our business leader
stakeholders.

2021 Impact Report15

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Materiality assessment.
Our materiality assessment identifies the internal and external issues
that have the most impact on our business.
Tier 1 issues are our priority issues —those that impact our company
and our employees from a business,environmental and/or social perspective.

Tier 2 issues are issues that may have alimited impact on our company/businessdirectly but impact our strategic partners
and stakeholders or the environment.

Tier 3 issues do not have a significant,direct impact on our company or
strategic partners.

Issue

Environmental

Tier 1•

Energy efficiency of offices/data centers•

Employee diversity/equity/inclusion•

Cyber security•

New/enhanced ESG products/services•

Utilization of renewable energy•

Employee attraction/retention/engagement•

Ethical conduct•

BLP Media/News focus on ESG issues•

Employee harassment/non-discrimination•

Disaster response/business continuity••

Social/racial equality•

External ESG disclosure creening suppliers for environmental/
Ssocial criteria•

Employee wellness, health and safety•

Board diversity••

Engagement in the community

Integration of ESG into non-ESG-focused
products/services•

BLP supply chain labor risks

Tier 2Tier 3BLP sustainable business travel practices
Waste reduction/diversion from landfill• Impact of BLP locations on
local communities

SocialGovernance

Cross-ESG••

Employee grievance mechanisms•

Board oversight of ESG

•

•

•

Poverty/wealth inequality•

 ormal management accountability
F
for ESG LP participation in advancing
B
an inclusive economy••

Public policy engagement

 arbon emissions from BLPC
upstream activities•

Water/wastewater management•

 reedom of association/F
collective bargaining

Non-confidential Tier 1 Environmental, Social and Cross-ESG issues are discussed in detailin our annual Impact Report. For additional discussion of our material issues, please see our2021 GRI Content Index and SASB disclosure at bloomberg.com/impact.
2021 Impact Report16

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Sustainability strategy.
Looking ahead.
With little more than a decade to prevent a devastating level of global warming,
governments and businesses are shifting their focus to building a low-carbon
global economy. Our sustainability strategy ensures that our company is not only
able to adapt to changing markets, but also able to maximize its contributions tocollective multinational efforts to hold the line on climate change.
We drafted our strategy based on the findings of our 2020 materiality assessment andrefined it through a process that included consulting with stakeholders and mapping ouralignment to the United Nations Sustainable Development Goals (SDGs). Our strategy
has been approved by business leaders across the firm and the Office of the Chairman.

Our strategy positions our business for success both today and in a future that willbe transformed by the transition to a low-carbon economy. As a financial informationand technology company with a relatively small operational footprint, we recognizethat some of our most significant impact comes from serving as an innovatorand a champion for new sustainability solutions — pioneering new technologies,
promoting new ideas and leading collaborative efforts with business and civic
partners to develop sustainable best practices. Our sustainability strategy elevatesthe opportunities we have to advance sustainability beyond Bloomberg.

Our sustainability strategy.

Environmental
impactMaterial issues

Strategic priorities

Goals

Energy efficiency; Renewable energy;
Waste; Supply chain

Reduce our emissions in linewith a 1.5°C future•

Obtain 100% of our electricity from renewable sources by 2025•

Find and maintain further energy efficiencies in data centers and offices•

Divert 95% of waste from landfill•

Eliminate use of non-renewable, non-recyclable and non-reusable materials•

Set and achieve science-based targets for emissions reductions on the path to net zero•

Develop sustainable finance products for a wide range of investors•

Expand energy transition research and analysis•

Be the indispensable guide to climate change•

Strengthen the financial markets’ response to the impacts of climate change•

Bring together diverse stakeholders to address climate challenges•

Drive measurable, local action on climate change•Improve recruitment, advancement and retention of underrepresented talent•

Drive business accountability for diversity and inclusion•

Foster a culture of inclusion•

Deliver best-in-class benefits and training•

Engage employees in Bloomberg’s philanthropic initiatives and culture•

Promote an inclusive global economy•

Expand access to data and technology

New/enhanced ESG products;
Media/News focus on ESG; Public policy
engagement; Employee engagement

Social impact

GRI: 201–2

Support coherent, impactful
climate action

Community engagement;
Employee diversity/equity/inclusion;
Employee attraction/retention/
engagement; Employee wellness,health and safety

Invest in an increasingly
diverse workforce

New/enhanced ESG products;
Media/News focus on ESG; Social/racialinequality; Community engagement

Drive change on critical social issues•

Support diverse voices in media and the arts•

Address the world’s most pressing needs
2021 Impact Report17

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Sustainability strategy.
Our strategy is aligned with the
UN Sustainable Development Goals.

The United Nations Sustainable Development Goals, adopted by all United
Nations member states in 2015, set forth an ambitious plan for achieving sustainableeconomic, social and environmental development by 2030. The 17 goals aredesigned to stimulate collective global action in areas of critical importancefor humanity and the planet. Our work contributes to nearly all of the SDGs.
Following best practices, we focus our efforts on the SDGs where we believe
we can have the greatest impact. Click on “Our efforts” below to read more.

Our highest priority SDGs and most relevant SDG targets are:SDG

SDG target

Our efforts

SDG 4: Ensure inclusive and equitable quality
education and promote lifelong learning
opportunities for all

4.4: By 2030, substantially increase the number of youth and adults who have relevant
skills, including technical and vocational skills, for employment, decent jobs andentrepreneurship•

Driving social change•

GRI 404: Training & Education

SDG 5: Achieve gender equality andempower all women and girls

5.5: Ensure women’s full and effective participation and equal opportunities forleadership at all levels of decision making in political, economic and public life•

Investing in our people•

Driving social change•

GRI 405: Diversity & Equal Opportunity

SDG 7: Ensure access to affordable,
reliable, sustainable and modern
energy for all

7.2: By 2030, increase substantially the share of renewable energy in the global
energy mix•

Supporting climate action•

Reducing our emissions

7.3: By 2030, double the global rate of improvement in energy efficiency•

GRI 302: Energy

SDG 10: Reduce inequalities

10.2: By 2030, empower and promote the social, economic and political inclusion of all,irrespective of age, sex, disability, race, ethnicity, origin, religion or economic orother status•

Investing in our people•

Driving social change

12.5: By 2030, substantially reduce waste generation through prevention, reduction,
recycling and reuse•

Supporting climate action•

Reducing our emissions

12.6: Encourage companies, especially large and transnational companies, to adopt
sustainable practices and to integrate sustainability information into their reporting cycle•

GRI 301: Materials•

GRI 306: Waste

13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural
disasters in all countries•

Supporting climate action•

Reducing our emissions

13.3: Improve education, awareness-raising and human and institutional capacity
on climate change mitigation, adaptation, impact reduction and early warning•

GRI 302: Energy•

GRI 305: Emissions

17.17: Encourage and promote effective public, public-private and civil society
partnerships, building on the experience and resourcing strategies of partnerships•

Supporting climate action•

Driving social change

SDG 12: Ensure sustainable consumption
and production patterns

SDG 13: Take urgent action to combat
climate change and its impacts

SDG 17: Strengthen the means of
implementation and revitalize the global
partnership for sustainable development

2021 Impact Report18

Contents

Approach

Reducing our emissions

We’re reducing our emissions
in line with a 1.5°C future.
Bloomberg strives to decouple company growth from environmental impact
while increasing the efficiency and resiliency of our operations. Our environmental
performance targets are aligned with multinational efforts to limit the global
temperature rise to 1.5°C above pre-industrial levels and avoid catastrophic
climate change.

2021 highlights
20

Carbon emissions reductions and targets

22

Energy24

Facilities

27

Business activities

29

Spotlight: Bloombees

Supporting climate action

Investing in our people

Goals
Obtain 100% of our electricity
from renewable sources by 2025

Driving social change

2021 progress•

51.2% of our electricity isfrom renewable sources

Find and maintain further energy
efficiencies in data centers and offices:••

10% reduction in energy intensity
in buildings by 2030
(from 2018 baseline)
5% improvement in energy efficiency
in data centers by 2030
(from 2018 baseline)

Divert 95% of waste from landfill

Eliminate use of non-renewable,
non-recyclable & non-reusable
materials

•

•

•

•

•

•

Set and achieve science-based targets
for emissions reductions on the pathto net zero

2% reduction in energy intensity
in buildings (from 2018 baseline)
2% improvement in energy efficiency
in data centers (from 2018 baseline)

88% of total waste diverted
from landfill & incineration
91% of office paper made fromrecycled content
1% of magazine paper made fromrecycled content
99% of all paper used by Bloomberg
is FSC-certified•

Short-term targets (2030): set•

Long-term targets: in progress••

Scope 1 & 2 emissions: 32%
reduction from 2018 baseline
Scope 3 emissions: 77% reduction
from 2018 baseline

For more details on our environmentally
impactful operational activities, see“Performance by the Numbers” atbloomberg.com/impact.

2021 Impact Report19

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Carbon emissions reductions and targets.
As nations step up climate action, we’ve set aggressive
emissions reduction targets in line with best practices.
Bloomberg is committed to reducing the company’s greenhouse gas (GHG)
emissions in line with a 1.5°C future. Our short-term science-based targets aim foran 80 percent reduction in our Scope 1 and 2 emissions and a 20 percent reductionin our Scope 3 emissions by 2030 from a 2018 baseline. These targets have beenvalidated by the Science Based Targets initiative (SBTi), confirming that they are in linewith the global emissions reductions necessary to limit the global temperature rise to
1.5°C. Our targets build on previous commitments we’ve made, including our RE100
pledge to obtain 100 percent of our electricity from renewable sources by 2025.
Achieving our RE100 goal will satisfy the 80 percent reductions in Scope 1 and 2
emissions we are pursuing.

Bloomberg’s science-based targets aim to reduce:

Progress toward science-based targets

Scope 1 emissions

Our science-based targets aim for an 80% reduction in our Scope 1 and 2 emissions
and a 20% reduction in our Scope 3 emissions by 2030 from a 2018 baseline.

Direct GHG emissions that occur from Bloomberg’s direct use of fuel,including natural gas, generator oil, refrigerants and aircraft fuelScope 2 emissions

2018
baseline

2021

Reduction frombaseline(2021 vs. 2018)

SBTi reduction
targetIndirect GHG emissions associated with Bloomberg’s consumption of purchased
electricity and steam

Scope 1

12,915

5,169

Scope 3 emissions

Scope 261,80145,569All other Bloomberg indirect GHG emissions, such as business travel, publishing
operations, global logistics, paper usage and landfill waste generation

Scope 1+2

74,71650,738-32%-80%

Scope 378,557

18,348-77%-20%

Note: Throughout 2021, our Scope 3 emissions remained atypically low due to ongoing impacts of the pandemic.

GRI: 305–1—305–7

2021 Impact Report20

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Carbon emissions reductions and targets.
The road to net zero

Emissions by activity

In February 2021, we pledged to achieve net-zero emissions by 2025, formalizing
this commitment by joining the Business Ambition for 1.5°C campaign, a partner of
the UN Race to Zero campaign. The Science Based Targets initiative (SBTi) has sincerevised its guidance on net zero and now requires that participating organizations
set and achieve additional long-term emissions reduction targets in order to achieve
SBTi’s official Net Zero Standard.

Energy consumption typically generates the majority of Bloomberg’s emissions; in 2021,
it accounted for an even greater share of our total emissions as emissions from our publishing
operations declined and our business travel remained significantly lower than normal due toongoing travel restrictions. Because of the COVID-19 pandemic, most of our workforce worked
remotely for much of the year, but our facilities and technology infrastructure remained fully
operational to support our clients and employees.

Bloomberg is committed to following the latest climate science and to maintainingalignment with the SBTi, so we will be setting a new, long-term science-based
emissions reduction target and revising our net-zero timing in the coming year.
We will honor the pledge we initially made for 2025. While we continue to focus
on emissions reductions, we will also make additional investments in projects
that produce carbon credits on the road to net zero. In 2021, Bloomberg beganpurchasing and retiring carbon credits from three climate change projects to offset
our ongoing business travel emissions. Starting in 2025, we will expand this effort
to cover all remaining CO2e emissions.
Once we meet our long-term science-based target reductions, these emissionsoffsetting efforts will result in Bloomberg receiving SBTi’s official net-zero designation.

Energyconsumption:

72.5%

Businesstravel:11.4%
Publishing
operations:

12.5%
Other:

3.6%

GRI: 305–1—305–7

2021 Impact Report21

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Energy.
Reducing our energy use is a top priority.
Bloomberg consumed 343 million kWh of electricity in 2021, an increase of 7 percent
from 2020. While a significant portion of our workforce and our clients were still working
remotely for much of 2021, more employees worked on site, driving an increase inelectricity consumption in our offices — up 8 percent globally versus 2020. In addition,a continued high level of service to employees and customers working remotely
contributed to a 10 percent year-on-year increase in data center energy consumption.

Total kWh and kWh per employee
As companies grow, total energy consumption typically increases. Therefore, we monitor kWhconsumption per employee as a measure of our overall energy efficiency. In 2021, our overall
kWh consumption increased by 7%. Our kWh consumption per employee increased by 4%.

17,14817,067

17,533

16,636

While electricity consumption was up, overall we generated 50,112 metric tonnesof market-based emissions in 2021, 8 percent less than in 2020. We benefited fromreduced fuel usage this year, an increase in sourced renewables and other marketbased impacts, including direct utility purchases and environmental certificates.
As a company with approximately 21,000 employees based in 161 locations
globally, mitigating our energy-related carbon emissions is critical to reducing ourenvironmental impact. Bloomberg’s energy strategy is comprehensive, focusing
on reducing total energy consumption, implementing energy efficiency projects at
our facilities, building new facilities to LEED/BREEAM environmental standards anddeveloping both on- and off-site renewable energy projects.

16,114

15,372

15,741

15,56916,187

343M

299M

305M

308M

2016

2017

315M
319M

303M

287M
266M

268M

2012

2013

2014

kWh/per employee

GRI: 302–1—302–5
SASB: TC–IM–130a.1

16,446

2015

2018

2019

2020

2021

Total kWh

2021 Impact Report22

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Energy.
Renewable energy

Path to RE100

In 2021, we secured 176 million kWh of renewable energy, an increase of 10 percent
from 2020, from nine on- and off-site solar and wind sites and a hydropower allocationfrom a local utility. Sourced renewable energy represents 51.2 percent of our purchased
energy, up slightly from 49.8 percent in 2020 largely due to the full-year impactof our newest installation, the North Carolina Solar Project, which provides us withapproximately 11 million kWh of energy annually. To date, our renewable projects havegenerated 592 million kWh of energy.

Bloomberg is a member of RE100, a global initiative of influential businesses committed
to using 100% renewable electricity. We have pledged to obtain 100% of our electricity
from renewable sources by 2025.

Bloomberg began investigating renewable energy projects in 2008; our first project,
a 1.8MW solar installation at our campus in Princeton, New Jersey, began providing
us with energy in 2012. In 2021, we expanded our solar energy capacity in Princeton,
developing an additional 2.55MW solar project at our offices there. In March 2022, theproject went live, with solar energy now providing 100 percent of the electricity needed
for the two buildings on site.

Owned renewables

Bloomberg is a member of RE100, a global initiative of influential businesses committed
to using 100 percent renewable electricity. We aggressively pursue renewable energy
opportunities where they make sense — environmentally, operationally andeconomically — in order to meet our RE100 commitment to obtain 100 percent
renewable electricity by 2025.

Bloomberg renewable energy at year-end
Bloomberg renewableenergy projects

2016

2017

2018

2019

2020

2021

MWh

222

242

263

280

281

261

Power purchase agreements (PPAs) MWh

4,719

4,150

3,642

4,204

3,970

3,245

Virtual PPAs

MWh

017,41534,646

136,311

128,744

135,560

Other renewables

MWh

4,831

11,646

12,013

11,97526,00336,457

Total project renewables

MWh

9,772

33,45350,382

152,770

158,998

175,523

Additional renewable energy
credits (RECs)

MWh85,61279,70079,301

4

6,910

36,60817MW

20MW

HillTopper
Wind Project

Arkwright SummitWind ProjectCurrently, our biggest challenge is procuring renewable energy outside the U.S. Countries
have different markets, incentives and availability, and Bloomberg has lower energy
needs in these markets. We continue to seek feasible projects; in 2022, we are focusing
on opportunities in the U.K. as well as further opportunities in the U.S.

20KW
London (UK) Solar Project

1.5MW
Queens Solar Project

184KW
Princeton Maintenance
Building Solar Project

4.4MW
Princeton Solar Project

41KW

5MW

San Francisco
Solar Project

Began investigating
renewable energy projects

2008

2009

2010

2011

2012

2013

2014

2015

2016

North Carolina Solar Project

RE100 goal:

51.2%

RE100
commitment
announced

First projects
completed

5MW

Hidalgo Wind Project100%

renewable energy

2017

2018

2019

2020

2021

2022

renewable energy

2023

2024

2025

Contents

Approach

Reducing our emissions

Facilities.
We push beyond conventional ideas
to minimize the environmental impactof our buildings and data centers.

Supporting climate action

Investing in our people

Driving social change

LEED and BREEAM office space
80% of Bloomberg employees are based in environmentally certified office space.
20,965
19,347

18,794

18,31019,974

17,276
15,617

21,27319,92580%

15,653

76%

75%

75%

Buildings
55%

In 2021, Bloomberg maintained 158 non-data-center locations globally, representing
5 million square feet, which consumed 149 million kWh of electricity.
Over the next decade, we are aiming to reduce energy intensity — the quantity ofenergy required per employee — across our portfolio of buildings by 10 percent
from a 2018 baseline. In 2021, we achieved a 2 percent reduction in energy intensity
against that baseline. We will be able to better assess our progress against this goal
when the majority of our employees return to their offices.
We seek to limit the environmental impact of both construction and occupancy at
our buildings by investing in environmentally certified office spaces. We incorporate
sustainability considerations into our search criteria when looking for new officespace and ensure that all new office developments, refurbishments and expansions
are certified or built to Leadership in Energy and Environmental Design (LEED) or
BREEAM standards.
At the end of the year, Bloomberg had 36 active environmentally certified projects
on six continents, with five more in progress. Our 2021 projects included our newest
New York City office space at 919 Third Avenue, which received LEED Gold forCommercial Interiors for ten floors. Our European headquarters in London received
an “Outstanding” rating in BREEAM’s In-Use assessment, which recognizes how abuilding is operated and managed through strategies that consider the environment,neighboring community and employees. With BREEAM “Outstanding” ratings inboth the Design and In-Use categories, the Bloomberg London office is now the mostsustainable office development in the U.K.

21%
19%

2012

2013

22%

21%
19%

2014

2015

2016

2017

Total headcount (includes Bloomberg L.P.
and Bloomberg Industry Group)

2018

2019

2020

2021

% of employees in environmentallycertified space

15 projects

19 projects

LEED Platinum

LEED Gold

Our European
headquarters
BREEAM “Outstanding” - Design
BREEAM “Outstanding” - In-Use

In 2021, we also achieved the WELL Health-Safety Rating on Facility Operations andManagement through the International WELL Building Institute for 78 locations,representing more than 90 percent of the company’s global office portfolio.

Our global
headquarters

3-star Fitwel certification

78 offices

WELL Health-Safety Rating

2021 Impact Report24

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Facilities.
Data centersOur data centers handle the large volume of data and analytics we provide to morethan 350,000 customers through Bloomberg Professional Services. These data centers
are critical assets and require significant amounts of energy to function. In 2021,
while many of our employees and clients were still working remotely, infrastructure
requirements increased and data center electricity consumption grew 10 percent as
we expanded our data center footprint to accommodate elevated demand. We areplanning for more growth and further expansion of our data center portfolio in the near
future, which will come with more energy consumption. While our overall objective is tolimit our energy usage, we cannot compromise the quality of data stored, Bloomberg
Terminal functionality, complexity of routinely performed calculations or uninterrupted
service to our customers.
Anticipating this data center growth, we have set a goal to achieve and maintain a
5 percent improvement in energy efficiency across our data centers versus a 2018baseline. In 2021, we achieved a 2 percent improvement against this baseline, basedon Power Usage Effectiveness (PUE).
We use PUE as a measure of how efficiently a data center uses energy. PUE is the ratioof the energy used by the facility to the energy delivered to the computer equipment.
(Lower PUE is better.) The PUE of Bloomberg’s data centers has been steadilydecreasing since 2010, when we started measuring it. Our 2021 data center PUE of 1.41
is 20 percent lower than in 2010, helped by the opening of our LEED V4 data centerin 2014 and an additional efficient data center in 2018.
Waste
Aggressive recycling, waste-to-energy utilization in New York City and London andcomposting programs in key offices globally have driven our waste-reduction andwaste-diversion success to date. Our ultimate goal is to reduce our waste sent tolandfill and incineration to zero, so we continue to seek out and implement newwaste-reduction strategies.
In 2021, Bloomberg generated 317 metric tonnes of landfill waste and diverted 88
percent of total waste away from landfills. This 61 percent reduction in landfill wastefrom 2020 is due in part to low occupancy in our facilities during the COVID-19
pandemic, but is also related to a new meal service we introduced in 2020.
Throughout 2021, we served lunch to employees in compostable containers, which
eliminated a lot of external waste that would have otherwise been brought into our

GRI: 306-1 — 306-5
SASB: TC–IM–130a.3

offices and ended up in landfill. We also expanded the recycling and composting
programs in several of our European offices, including Madrid, Paris and Stockholm.
We’re currently focused on initiatives to replace single-use items with reusable
materials. In our London headquarters, we introduced reusable cups and adishwashing service, avoiding the use of thousands of disposal cups per day
at this office alone.
We are also tackling food waste from our pantry and catering operations in New Yorkthrough a continued partnership with food-donation platform provider Copia. In
2021, we donated 23,000 pounds of perfectly edible food to local shelters and soup
kitchens like the Dwelling Place and St. Paul’s House.

Fill it Forward
We encourage our employees to reduce waste by using reusable waterbottles, cups and mugs while in the office. We’ve partnered with reusable
solutions company Fill it Forward to encourage more reuse. Employees
scan reuse tracking stickers via a mobile app each time they refill, generatinga donation to a clean water project. Since the program inception in 2020, we
have reached nearly 68,000 reuses that, according to Fill it Forward, equates
to 2,023 pounds of waste diverted from landfills and 405 poundsof plastic pollution diverted from oceans.
Employee participation in the program funded the installation of pipedsystem tap stands that distribute clean water in the Gicumbi District inRwanda, a region where only about 13 percent of households have accessto handwashing facilities. As of September 2021, clean water is now
flowing for 620 people in this community, transforming lives by providing
access to clean water close to home. Employee participation has also
contributed to current charitable projects with Dig Deep, Wine to Water
and One Tree Planted.

2021 Impact Report25

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Facilities.
CateringBloomberg has committed to serving more climate-friendly foods in its catering
operations and cafeterias in New York, New Jersey and London by signing the Cool
Food Pledge, part of a growing movement to reduce food-related GHG emissions by
25 percent by 2030. We’ve developed a number of strategies to promote sustainable
food options to our employees while reducing our environmental impact, including
gradually incorporating more plant-based ingredients into the foods we serve,
increasing the plant-based milks on offer and improving our communications andengagement in this area. Our GHG emissions per plate decreased by 22.4 percent
between 2018 and 2020.
In January 2021, over 200 employees participated in our first-ever Veganuary
workplace challenge to encourage plant-based diets. We offered special menus
throughout the month in several of our offices, as well as an educational webinar with
our Cool Food Pledge partner World Resource Institute (WRI) on the links between
food and climate change.

Bloomberg food-related GHG emissions (U.S. & London)
In 2021, Bloomberg worked with the Cool Food Pledge team at WRI to develop
a baseline emissions profile for our U.S. and London offices. We have pledged
to reduce our food-related GHG emissions by 25% by 2030; we will assess ourprogress against this baseline once we resume significant food service operations.

Food purchases 2020: 787 tonnes

Total food-related GHG emissions(carbon costs) 2020: 9,461 tonnes CO₂

Dairy & otheranimal–based
foods: 58%

Dairy & otheranimal–based
foods: 57%

Grains &other plant
proteins: 41%

Grains &other plant
proteins: 14%

Beef & lamb: 1%

Beef & lamb: 29%

2021 Impact Report26

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Business activities.
We seize opportunities in every area of our operations
to reduce our carbon footprint.
Business travel
Historically, business travel has represented a significant portion of Bloomberg’s
total emissions. However, due to worldwide COVID-related travel restrictions thatbegan in March 2020, our miles traveled and associated carbon emissions dropped
by approximately 80 percent in 2020 and remained depressed in 2021. In 2021, wetraveled 31 percent fewer miles than in 2020 and our associated carbon emissions
dropped nearly 20 percent. Our 2021 travel activity, measured by miles traveled, was
86 percent lower than our pre-pandemic travel activity in 2019.
As the pandemic diminishes and regular business dynamics resume, mitigating theenvironmental impact of our business travel will continue to be a key area of focus as
we work to reach our 2030 science-based emissions reduction targets.

Our Global Travel and Sustainability teams regularly meet with our vendors tounderstand and influence their strategies to reduce their emissions and are actively
exploring tools to help employees choose more sustainable travel options during
the booking process.
Additionally, Bloomberg is now purchasing and retiring carbon credits to offset travelemissions. We partnered with sustainability solutions company South Pole Carbon topurchase carbon credits that will support climate action projects in Brazil, Cambodia
and the Democratic Republic of Congo while covering all of our travel emissions forthe next three years. The projects we selected have co-benefits that align with severalof the UN Sustainable Development Goals in addition to carbon benefits.
Our carbon credits benefit:
Water filters in Cambodia
This project supports locally-made Ceramic Water Purifiers that provide
clean water to communities in Cambodia. With a filter in their home, families
no longer need to boil their water to make it safe to drink.

Bloomberg business travel
Miles traveled and CO₂e emissions by year

Year

Miles traveled

Metric tonnes
CO2eChange vs.
prior year

Metric tonnes CO2e
per full-time employee

Change vs.
prior year

2021

25,697,013

7,850(19.2%)

0.37(21.7%)

2020

37,077,346

9,710(82.2%)

0.47(82.6%)

2019

186,412,403

54,460(13.2%)

3.00(14.3%)

2018

213,651,581

62,725

9.4%

3.18

6.0%

2017

190,101,748

57,313

10.3%

3.00

7.1%

2016

174,073,931

51,971(6.3%)

2.80(9.2%)

2015

188,722,901

55,489

22.9%

3.08

11.7%

2014

153,383,876

45,151

5.6%

2.76

1.2%

2013

143,588,876

42,757

21.9%

2.73

20.7%

2012

128,650,352

35,0637.7%

2.26(18.0%)

GRI: 305-5

Forest conservation in Brazil
The Envira Amazonia Tropical Forest Conservation project in Brazil’s Amazon
basin protects 39,300 hectares of tropical forest from logging and encroaching
cattle ranches.
Forest conservation in the Democratic Republic of Congo
The Isangi Forest Conservation project in the Democratic Republic of Congoprotects over 187,000 hectares of one of Earth’s most biodiverse rainforestsfrom deforestation.

2021 Impact Report27

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Business activities.
Publishing operationsInternal paperIn 2021, we published three magazines — Bloomberg Businessweek, Bloomberg
Markets and Bloomberg Green — consuming 5 million pounds of paper anddistributing almost 15 million copies globally. Publishing operations generated
8,647 metric tonnes of CO2e, a 33 percent reduction versus 2020 due to reducing
our total number of print magazines by 46 percent, decreasing magazine paper
usage by 35 percent and increasing digital distribution to 17.4 percent of total copies.

We track our internal consumption of paper — paper used in our offices and at
our in-house print facilities in New Jersey, New York, London, Hong Kong, Tokyoand Singapore — separately from the paper we use in publishing. Internal paper
consumption typically represents less than 1 percent of Bloomberg’s carbon
emissions; in 2021, due to reduced business activity in our offices during the
COVID-19 pandemic, this consumption remained at roughly one-third of 2019 levels.

Publishing operations represented 13 percent of total company emissions, and wecontinue to employ a number of strategies to limit the environmental impacts of ourpublishing activities. These ongoing efforts include:

Paper consumption still presents an opportunity to mitigate our environmental
impact. Globally, 83 percent of office paper is FSC-certified, with an average recycledcontent of 91 percent. We will look to improve these metrics as paper consumption
rises to normal levels.

•

•

•

•

•

 ecycled paper: We print Bloomberg Green on 100 percent recycled-content paper.
R
Once sourcing is available, we will print Bloomberg Markets on 100 percent recycledcontent paper.
 SC certification: Bloomberg has used Forest Stewardship Council (FSC)-certified paperF
for all magazines since 2009.
Efficient printing: We seek to improve processes to limit paper waste during production.
 egional printing and distribution: We have consolidated some printing facilities, thusR
increasing distribution emissions, but we continue to look for opportunities to reduce
emissions via regional printing and distribution.
 igital publishing: Moving print subscriptions to digital is the most impactful measureDavailable to reduce the impact of our publishing activity.

Global paper usage
Bloomberg Businessweek accounts for the majority of our company’s paper usage andassociated emissions.
Bloomberg Businessweek: 74.8%
Bloomberg Markets: 19.8%
Bloomberg Green: 1.3%

Product transportation
Bloomberg ships B-Units, flat panels, keyboards, PCs and other products tocustomers globally, and our internal print shop distributes products internally.
We have six major distribution centers — in New York, Brazil, London, Hong Kong,
Singapore and Tokyo — and more than 200 stocking locations globally to provide
best-in-class customer service.
In 2021, we sent and received almost 490,000 shipments. Our global non-magazine
logistics activity generated 1,923 metric tonnes of CO₂e, an increase of 29 percent
from 2020 as we addressed our clients’ and employees’ needs at both work andhome. Approximately 93 percent of shipments were sent via ground or sea. On an
ongoing basis, we seek to improve the efficiency of our distribution network while
reducing its environmental impact through forward stocking and optimization andutilization of greener delivery options.
Across our warehouse network, we work to mitigate the environmental impactof our operations beyond the physical distribution of products. We strive to:•Reuse packaging materials whenever possible•

Recycle all materials that cannot be reused•Replace existing packaging with more sustainable options

Bloomberg Ink: 2.5%
Office paper: 0.9%
Bloomberg Industry Grouppublishing: 0.7%

GRI: 305–5

2021 Impact Report28

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

20,000 bees

80,000 bees

Spotlight

Bloombees
Bloomberg hosts beehives at five offices globally. In 2021, we installed beehives
at three offices in New York City, adding to our collection of hives in Princeton andLondon. In New York, we partnered with Alvéole, a social beekeeping company,
to install and maintain the Bloomberg bees on our office rooftops while providing
interactive, educational workshops for our employees. Employees tracked the bees’
journey as they pollinated the urban flora during the summer. At the end of theseason, we harvested their honey and shared hundreds of jars with our community.

4 hivesin New York City

per hive

total

Installing our New York City beehives.
GRI: 413-1

2021 Impact Report29

Contents

Approach

Reducing our emissions

We’re supporting coherent,
impactful climate action.
Structural and systemic shifts accompanying climate change such as resource
scarcity, new technologies and regulations pose business risks and offer
opportunities to issuers and investors globally. We provide data, analytics, indices,
news, insights and expertise to investors, lenders, policymakers and citizens
seeking to address climate challenges and drive the transition to a low-carbon
global economy.

2021 highlights
31

Financial products

38News & media

40

Events41

Public policy

43

Corporate philanthropy

47

Spotlight: COP26

Supporting climate action

Goals
Develop sustainable financeproducts for a wide range
of investors

Investing in our people

2021 progress
•
•

•
•

Expand energy transition
research and analysis

•

•

•

•

Be the indispensable guideto climate change••+18.75Strengthen the financial
markets’ responseto the impactsof climate change
Bring together diverse
stakeholders to address
climate challenges
Drive measurable,
local action on
climate change

•

•

•

As-reported and estimated Scope 1 and 2 emissions
data for 50,000+ companies
Bloomberg ES scores for 2,500+ companies
EU Taxonomy solution with coverage for
45,000+ companies
4,100+ BloombergNEF reports and research
pieces published
Bloomberg climate transition scoresfor 78 companies in 6 industries
Carbon emissions performance scores for284 companies
90+ interactive power and clean energy data sets
78% increase in climate-related stories publishedsince 2020
53% increase in overall ESG-related stories publishedsince 2020
3,200+ organizations supporting the TCFD climaterelated financial disclosure guidelines1
8 countries and jurisdictions with TCFD-aligned
reporting requirements
460 Bloomberg-hosted events, reaching
43,838 attendees with climate, environment andsustainability-related topics
11,390 trees planted by employee volunteers•

67% of U.S. coal plants retired since 2011•

As of April 2022

ESG data for 11,800+ companies

•

•

1

Driving social change

51% of European coal plants retired through Europe
Beyond Coal since 2016
9.3 million square miles of ocean protected throughthe Vibrant Oceans Initiative

2021 Impact Report30

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial products

Clarifying climate risks
and opportunities.
Bloomberg provides data, research, analysis
and analytical tools to help investors, lenders
and companies manage risks and opportunities
related to climate change.

All of our sustainable finance products
are designed to fit seamlessly into
an investment workflow or corporate
decision-making process.
Environmental data and insights are
displayed alongside fundamental financial
data on the Bloomberg Terminal and invarious Bloomberg solutions, allowing
users to incorporate this information into
critical investment decisions.

Our climate solutions
31

Company performance

33

Sustainable debt

34

Physical risk

34

Climate-related regulation

35

Energy transition

37

Industry guidance

Our environmental data is easy to
discover and explore via functions suchas ESG Data Discovery (ESGD <GO>)and Overview of Bloomberg ESG(BESG <GO>).

Company performance
We help investors and companies better evaluate assets and assess
environmental performance.
Data

Bloomberg ES Scores

Our data on corporate environmental performance stands out for its extensive breadthand depth. We provide comparable company-reported data for 11,800+ companies in100+ countries with 15+ years of history and as-reported and estimated greenhousegas emissions for more than 50,000 companies globally. We currently track more than
600 environmental metrics, including data on energy use, carbon emissions, waste
and water management. This data is available on the Bloomberg Terminal and as anenterprise data file delivery via Bloomberg Data License, which allows the information to
be used across a firm by multiple applications and people.

Our proprietary Environmental & Social (ES) Scores offer investors a unique, data-driven measureof environmental and social performance. In 2021, we expanded our reach to cover nearly 2,500
companies across 8 sectors.
Data-driven

Materiality-based

Fully transparent

Scores are based on datareported by companies —not subjective opinions andanalyst rankings

Scores focus on industryspecific issues that drive
financial impact

Users can access the scoring
methodology and thecompany-reported data
underlying each score,making them useful fora wide range of analysis

Clients can use Bloomberg Data Management Services (DMS) to streamline the processof integrating ESG data from multiple vendors into their investment systems.

ScoresBloomberg provides proprietary and third-party ESG scores that investors can use
to quickly and simply evaluate performance across a range of environmental issues
and assess company activities relative to industry peers. Our proprietary scores include
Bloomberg Environmental & Social (ES) Scores, which track corporate environmental
and social performance on dozens of financially material and industry-relevant issues
for companies; Governance Scores, which track corporate performance on board
composition and executive pay; daily Environmental & Social News Sentiment Scores,
derived from news coverage; and ESG Disclosure Scores, which rate companies on
their level of ESG disclosure. We also offer third-party ESG scores from leading ratings
providers on the Terminal. In 2021, we began providing Terminal users with accessto Sustainalytics’ ESG Research and Ratings, which offer a forward-looking view ofcompanies’ ESG risks and how well they manage these risks.

Industry coverage
2,500 companies in 8 industries
Oil and Gas

Materials: Chemicals

Materials: Metals & Mining

Materials: SteelMaterials:
Construction Materials

Materials: Containers& Packaging

Consumer Staples

Industrial Products

Industrial Services

Real Estate

Renewables

Utilities

Launched in 2021

2021 Impact Report31

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial productsCompany performance (continued)
Indices

Insights

As the investment community’s needs evolve and more clients look to incorporate
measures of sustainability into their portfolios — and track the performance thereof —Bloomberg has led the way in offering ESG index resources and customization capabilities.
Bloomberg’s ESG index offerings are built on our comprehensive, cross-asset indices,and we employ a flexible approach to ESG benchmarks by partneringwith leading ESG ratings, framework and data providers to create index alternatives
that meet the diverse needs of investors.

Four-hundred Bloomberg Intelligence research analysts provide both bottom-up andtop-down ESG analysis across all asset classes. In 2021, BI expanded its ESG scoring
analysis for companies and industries, increased its coverage of carbon reduction
commitments, launched the Clean Energy ETF Tracker and an ESG ETF Exposure
Scorecard and deepened its governance research.

For example, the Bloomberg SASB ESG Indices, created in collaboration with the
Sustainability Accounting Standards Board (SASB), cover both U.S. large-cap equities
and investment-grade corporate bonds. These indices are weighted using R-Factor™,
an ESG scoring system developed by State Street Global Advisors that is aligned withlong-term, industry-specific sustainability drivers identified by SASB. The Bloomberg
MSCI ESG Fixed Income Indices are produced in partnership with MSCI ESG Research.
They include Sustainability Indices, which feature issuers ranked highly for managing
ESG risks; Socially Responsible Indices, which exclude issuers that are involved inbusiness lines or activities that conflict with investment policies, values or social norms;
and ESG-Weighted Indices, which use ESG ratings and ratings momentum to reweight
issuers within an existing Bloomberg fixed income parent index.
Bloomberg also collaborates with investment managers to develop indices that meet
sophisticated needs, such as the Bloomberg Rockefeller U.S. All Cap Multi-Factor ESG
Improvers Index, which ranks a company’s improvement in performance on material
ESG issues relative to industry peers.

The sustainability research practice of BloombergNEF, Bloomberg’s strategic researchservice, provides insights into how leading corporations are setting targets and making
strategic technology and investment choices. Among other reports, BNEF publishes
the Corporate Energy Market Outlook, a semi-annual assessment of trends anddevelopments in corporate clean energy procurement.
Analytics
ESG data is integrated into Terminal applications designed for company analysis,
allowing Terminal users to seamlessly incorporate environmental performance data
into the investment process. Investors can screen equities for themes such as resource
efficiency, global water risk exposure and more. The Terminal also features a numberof stand-alone ESG analytics. The Terminal’s dedicated ESG function, Environmental,
Social & Governance Analysis (ESG <GO>), provides a quick snapshot of a company’s
historical ESG performance, including environmental performance, using the mostmaterial and best reported metrics and ESG scores. Additional analytics enable
Terminal users to generate their own ESG scores using third-party ratings, Bloomberg
sustainability scores and ESG data.

In 2021, we expanded our global equity index range to include thematic indicesand launched the Bloomberg Electric Vehicles Index. The index draws from proprietary
research from Bloomberg Intelligence (BI) and BloombergNEF (BNEF) analysts
to capture companies that derive significant revenues from electric vehicles, energy
storage technologies, autonomous navigation technology, lithium and copper mining
and hydrogen fuel cells.

2021 Impact Report32

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial products

Sustainable debt
Bloomberg’s sustainable debt data, indices, research and analytics help investors
identify securities that promote environmental benefits, social benefits or a mixtureof both. In 2021, more than $1.6 trillion in sustainable debt instruments were issued,setting a new record and bringing the total market to over $4 trillion. The growthcame against the backdrop of COP26, among other events, which brought renewed
commitments to mobilize public and private climate finance from governments andcompanies. As this unregulated market continues to ramp up, we’re enhancing ourdata and insights to drive transparency and enable innovation.
Data
We label five key types of sustainable debt instruments on the Terminal: green,social, sustainability, sustainability-linked and transition. The universe of coveragefor these securities now extends to corporate bonds and loans, preferreds andmunicipal bonds as well as asset-backed securities. Additional fields on the
Terminal identify securities that align with the guidelines and principles developedby the International Capital Markets Association and Loan Market Association.
More recent enhancements highlight disclosures relating to the UN Sustainable
Development Goals and the EU Taxonomy as well as project category andsubcategory designations.
We also help investors spot trends and see which firms are leading the market byproviding sustainable debt issuance rankings through the Terminal’s League Tables(LEAG <GO>) function. These data sets are integrated across the Terminal, including
in our Asset and Investment Manager (AIM <GO>), Portfolio & Risk Analytics (PORT<GO>), Trade Order Management Solutions (TOMS <GO>) and BQuant (BQNT <GO>)functions. The Sustainable Debt data set is available on the Bloomberg Terminal or as
an enterprise file delivery solution via Bloomberg Data License.

Insights
BloombergNEF publishes the Sustainable Finance Market Outlook, an assessment oftrends in sustainable finance markets, with particular emphasis on regulation and arange of sustainable debt instruments, twice a year. BI provides independent, datadriven analysis of the trends and players driving the sustainable debt market.
Analytics
BNEF’s Sustainable Debt and Sustainability-Linked Debt Viewers allow users to easily
track the sustainably-themed bonds and loans that have been issued to date and see
the sustainability performance targets set as part of sustainability-linked loan andbond deals. On the Terminal, our fixed income analytical tools enable users to analyze
new issue premiums of green debt relative to conventional debt offerings, discover
ESG-related new issues in the market and assess the liquidity of the sustainable debt
market, among other activities.
A meteoric rise for sustainable debt
Sustainable debt issuance more than doubled in 2021, hitting a new record of $1.64 billion.
Green bonds doubled in issuance, reaching more than $620 billion. Sustainability-linked loans
and bonds, performance-based instruments tied to sustainability targets, were the fastest
growing themes in the ESG fixed income market. Together, these reached more than $530
billion — four times the volume offered in 2020.
1643.7Issuance ($ billion)
Sustainability-linked bonds
Sustainability-linked loans
Green loans

Indices

Social bonds

In 2021, we launched the Bloomberg U.S. Municipal Impact Index, which isdesigned to track the market of municipal bonds categorized as Green, Social or
Sustainability. The index currently tracks more than 2,800 securities and is the firstsuch standardized measure of the U.S. municipal tax-exempt investment-grade
impact bond market. In addition, the Bloomberg MSCI Green Bond Indices offer
investors an objective and robust measure of global green bond issuance.

Sustainability bonds
Green bonds
762.7
577.0

314.8
241.6
28.7
2013

68.2

88.2

2014

2015

144.7

2016

2017

2018

2019

2020

2021

Source: BloombergNEF

2021 Impact Report33

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial products

Physical riskClimate-related regulation

Extreme weather is impacting financial markets in a number of ways, forcing market
participants to consider the changing climate in their short-, medium- and long-term
investment analysis. Bloomberg’s data and analytical tools enable traders, portfolio
managers, companies and policymakers to better understand and then mitigate therisks of climate change to company assets.

To improve climate-related financial data and help direct capital toward sustainable
activities, a growing number of jurisdictions around the world are introducing new
financial reporting requirements for companies, banks and asset managers. Bloomberg
provides data and tools to help firms comply with regulations like the European Union’s
Taxonomy Regulation and Sustainable Finance Disclosure Regulation (SFDR) andalign reporting with sustainability standards like the TCFD guidelines.

Data
We launched our Environmental Exposures data set in 2021; it provides daily weather
and extreme event data based on company asset locations for more than 10,000
public manufacturing and retail companies globally. The data set, available on the
Terminal or enterprise file delivery solution via Bloomberg Data License, shows users
which companies have the most — and least — exposure to environmental events likesnowfall, extreme temperatures, cyclones, floods, earthquakes, seasonal weather
trends and more.

Data

Analytics

Bloomberg offers analytics to simplify ESG disclosure and regulatory compliance,
including a data solution that automates the assessment of EU Taxonomy eligibility
and alignment and financial product alignment with the SFDR.

Bloomberg’s customizable and interactive maps help companies and investors
visualize physical risk. MAP <GO> allows users to view company assets, including
retail locations, supply chain facilities and energy and commodity assets, during
cyclones, earthquakes, fires, droughts and record-setting temperatures.

Track wildfires using the Custom Map tool on the Terminal.

As the EU’s SFDR and Taxonomy requirements and the U.K.’s climate-related financial
disclosure rules begin to generate new data sets on climate-related activities andinvestments, Bloomberg is distributing this data on the Terminal and as an enterprisedata feed via Data License.
Analytics

Our PORT Enterprise system streamlines ESG data extraction for internal andexternal reporting. Bloomberg Asset and Investment Manager (AIM) provides
global, multi-asset investment cycle analytics that firms can use to continuallymonitor execution against SFDR requirements.

Analyze a company’s estimated eligibility with the EU Taxonomy using the EU Taxonomy Tab on ESG <GO>.

2021 Impact Report34

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial products

Energy transition 
Our data, research publications, climate transition scores and growing collection ofdata tools help corporate strategy, finance and policy professionals better understandthe transition to a low-carbon economy, generate opportunities and navigate change.
In 2021, with COP26 spurring more countries, companies and investors to set net-zeroemissions goals aligned with the Paris Climate Agreement, we provided new insights
to help firms develop and execute strategies for achieving those goals.
Data
Bloomberg provides corporate and investment professionals with fundamental
and market-pricing data for commodities — key inputs for evaluating regulatory andbusiness risks represented by carbon and other emissions. This includes nodal/hub-level
power and fuel prices, which can shed light on marginal emissions factors acrossthe U.S. grid. More directly, a wealth of fundamental data monitors the evolutionof the U.S. power mix, including plant-level, hour-by-hour generation, fuel burn,sulfur dioxide, nitrogen oxide and carbon dioxide emissions. Our commodities data
consolidates information from the Environmental Protection Agency’s Continuous
Emission Monitoring System, the Nuclear Regulatory Commission, the U.S. Energy
Information Agency, the Federal Energy Regulatory Commission, Ventyx andindividual U.S. independent system operators.
We also help financial professionals assess carbon footprint and transition risk ininvestment or loan portfolios by providing as-reported and estimated greenhousegas emissions data for more than 50,000 companies globally. Our Greenhouse
Gas Estimates data set, designed to make up for companies that do not reporttheir carbon emissions, uses a proprietary machine-learning model leveraging
more than 800 data points to estimate company-level Scope 1 and 2 emissions andScope 3 estimates on certain industry sectors. The model provides a distribution
and confidence score showing the quality and availability of data for each estimate,allowing for the use of more conservative estimates, which incentivizes companies toreport their GHG emissions.

Insights
BloombergNEF published more than 4,100 reports and research pieces on clean
energy, advanced transport, digital industry, innovative materials and commodities
in 2021. With growing interest in climate pathways, BNEF explored net-zero emissions
scenarios in several annual reports, including the New Energy Outlook, its long-term
economic forecast of the world’s power sector to 2050, and the Electric Vehicle
Outlook, its forecast of global passenger and commercial electric vehicle adoption
to 2050. BNEF also released updated editions of its other flagship annual reports
and rankings, including Energy Transition Investment Trends, which tracks global
investment in the low-carbon energy transition; Climatescope, a country-by-country
assessment of energy transition investment conditions in 136 markets globally; andthe Global Lithium-Ion Battery Supply Chain Ranking.
In addition, BloombergNEF produced several publicly available reports forexternal partners. These included Multiplying the Transition, an analysis ofmarket-based solutions for catalyzing clean energy investment in emerging
economies, commissioned by the Climate Investment Funds; and Data Centers andDecarbonization, conducted in partnership with power management firm Eaton andenergy company Statkraft.

June 9, 2021

1H 2021
Corporate
Energy Market
Outlook
Rolling with the punches
January 26, 2021

2021 LithiumIon Battery
Price Survey
Rising commodity prices
start to bite
November 30, 2021

Indices
The Bloomberg Goldman Sachs Global Clean Energy Index, launched in 2021,
is designed to help investors allocate capital to align with their long-term climate goals.
Developed with the energy expertise at both BloombergNEF and Goldman Sachs
Asset Management, the index is a modified free float-adjusted market capitalizationweighted index tracking the performance of over 175 global equities with significant
business exposure to the clean energy sector.

BloombergNEF reports.

2021 Impact Report35

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial products

Energy transition (continued)
ScoresAnalytics

Bloomberg offers two types of proprietary scores to help investors and policymakers
better assess risk in a world transitioning to a low-carbon economy.

BloombergNEF offers a selection of data tools that allow users to explore individualcompanies’ current and potential activity related to the transition to a low-carbon
economy. These include the Corporate Net-Zero Assessment Tool, which assesses
the strength of the new net-zero targets of 500 of the world’s largest companies
in the heaviest emitting sectors. BNEF’s Corporate Power Purchasing Agreement
database allows users to identify how much clean power is being procured by leading
companies around the world.

Bloomberg’s climate transition scores provide a rare forward-looking indicatorof the energy-transition preparedness of companies relative to their peers. Using
disclosed and proprietary BloombergNEF and Bloomberg Intelligence data, wescore each company’s carbon emissions performance and business model now
and in a forecasted future, answering critical questions about how the company ispositioned to succeed in a low-carbon economy. The scores are industry-specific andtransparent, allowing users to glean additional insights from the underlying data.
In 2021, we expanded our climate transition scores universe; we now offer scores oncarbon performance for 284 companies and business model preparedness scores for
92 companies in oil & gas, metals & mining and steel, with other sectors in the works.
Bloomberg Government Climate Risk Scores, launched in 2021, measure the progressthat countries and regions are making in meeting the global Paris Agreement goals
relative to other countries. Incorporating proprietary sub-scores of carbon emissions
performance, power-sector decarbonization and climate policy, Bloomberg Government
Climate Risk Scores offer a transparent, comparable and quantitative measure for
137 countries that can be used in investment decisions, risk analysis and more.

BloombergNEF provides more than 90 interactive data sets that make it easier toexplore data on power and clean energy capacity, generation and assets; prices,tariffs and auctions; investment and valuation; equipment manufacturers; and specificsegments of the energy industry.
Bloomberg Intelligence offers additional data tools to help investors andpolicymakers evaluate how companies are positioned to handle the carbon transition.
These include tools for exploring BI’s enhanced quantitative carbon forecasts foroil and gas companies that feature qualitative targets and scenario analysis; carbon
forecasts for all companies covered by BI; and a basket of stocks that aim to becomecarbon neutral.

Preview the future
Bloomberg climate transition scores measure how prepared companies are, relative to peers,
for a world that’s designed to keep the increase in global average temperatures to less than
2°C above pre-industrial levels. 

Present

FutureCarbon Transition

Business Model Transition

Carbon Transition Risk Exposure

Business Model Risk Exposure

Where are they now?

Where are they most exposed?

Carbon Transition Forecast

Business Model Adaptation

Where are they going?

What are they doing about it?

2021 Impact Report36

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Financial products

Industry guidanceThe rise of environmental issues creates unique and profound implications for a wide
range of industries. Bloomberg Industry Group’s subscription-based news and analysis
services for legal, government and tax and accounting professionals provide key insights
into cross-cutting sustainability issues and practical guidance for company leaders.
Legal insights
Bloomberg Law delivers news and legal analysis on ESG trends impacting companies,
ESG-related reporting and disclosure, shareholder engagement, compliance with rules
governing ERISA plan fiduciaries and emerging risks to help attorneys provide
timely and optimal advice to clients. In 2021, Bloomberg Law launched a dedicatedEnvironment, Social & Governance news channel that provides thorough, consistent
coverage of ESG national and international news developments for legal professionals.

Law firm insights

Government insights
Bloomberg Government helps subscribers track the positions of corporations
and nongovernmental organizations trying to influence environmental andenergy policy. Its Lobbying Intelligence Tool provides visibility into which firms
are lobbying on oil, natural gas, environmental regulation and agricultural policy —as well as the congressional offices for which registered lobbyists used to work.
The service also provides detailed data on federal procurements used bycompanies to help them win new opportunities with the federal government.
Tax & accounting insights
Bloomberg Tax & Accounting produces the Credit and Incentives Navigator,
a database of state tax credits and incentives that includes non-tax incentives
that encourage the development and use of renewable energy and promoteconservation. Bloomberg Tax & Accounting also provides news and analysis ofgreen energy initiatives, sustainability accounting, environmental remediation,energy production and carbon taxes.

In 2021, Bloomberg Law surveyed attorneys about the ESG practice groups and programs
at their law firms. Some insights from the survey:
Does your firm have a dedicated ESG
team or practice group in place?

80

62%

Unsure:10%What ESG issues have you
advised your clients on
within the past 12 months?

60

47%
Yes:
38%

40%

No:
52%

40

38%

35%
20

0
Corporate
ESG
strategyESG
regulatorycompliance

Environmental General ESG
compliance disclosures involuntaryreports

Renewableenergy2021 Impact Report37

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

News & media

Reporting on the businessand science of climate change.
Bloomberg’s News and Media divisions provide
extensive content on climate and ESG acrossmultiple platforms.
Bloomberg Editorial and Research’s 2,700 Bloomberg journalists and analysts in
120 countries deliver over 5,000 stories a day to Bloomberg Terminal subscribers.
The Terminal features regular coverage of sustainable finance and corporate
governance, with a particular focus on how companies create (and destroy)
shareholder value, company supply chains and renewable energy trends. ESG isbecoming one of the biggest stories that Bloomberg Editorial & Research covers
as investors put pressure on executives to tackle issues from climate change andworkplace culture to race and gender, and investment pours into the space.
Bloomberg News also feeds our digital news site Bloomberg.com, the social andstreaming video network Quicktake and the publications and broadcasts produced
by Bloomberg Media Group. Bloomberg Media Group, our consumer-facing media
division, is a leading, global, multiplatform brand that provides decision makers
with timely news, analysis and intelligence on business, finance, technology, climatechange, politics and more. It reaches influential audiences worldwide across every
platform, including digital, social, TV, radio, print and live events.

Bloomberg Green

ESG coverageIn 2021, reporters and editors from Green broke new ground in the use of satellite
imagery, aerial surveillance and infrared cameras to report on methane, a supercharged
greenhouse gas. A series of scoops, investigative projects, a two-part documentary,data visualizations and a magazine cover helped expose energy companies andother powerful interests that are causing damage across the planet through methaneleaks while highlighting policies that can address the problem. Against the backdropof this reporting, lawmakers in the U.S. and Europe pushed new regulations, withmore than 100 countries pledging to reduce their methane emissions at the COP26
climate talks in Glasgow.

The Bloomberg News ESG team aims to help our readers understand ESG risk
and deploy all the resources of the Terminal. In 2021, we expanded the team andpublished 53 percent more ESG stories than in the previous year. Bloomberg
News deepened its collaboration with Bloomberg Intelligence and BloombergNEF,
brought the Equality team under the umbrella of the ESG team and expanded the arrayof ESG news products we offer clients.
To help investors stay on top of market-moving news, we provide a number of ESGand climate-related newsfeeds and alerts, including a new Top News page (TOPESG <GO>); ESG Daily Highlights (NI ESGDAILY <GO>), a compilation of the latest
ESG-related company, government, sustainable finance and investment news; Green
Bonds Weekly Wrap (NI ESGBONDWRP <GO>); and the weekly Good Business
Newsletter (NI GOODBIZ <GO>). We’ve also more than doubled the number of ESGrelated automated stories. Terminal users can curate their own ESG news feeds forthe specific companies or industries they track.
SASB: SV–ME–000.A–B

We created Bloomberg Green in 2020 to be the definitive resource for reportingon climate change and all its implications. Offering news, analysis and solutions,Bloomberg Green content appears on the Bloomberg Green website, a daily
email newsletter, a podcast, the Bloomberg Green magazine and the Bloomberg
Terminal, with integration across digital video, Bloomberg Quicktake, Bloomberg
Television, Bloomberg TV+, Bloomberg Radio and Bloomberg Live events.

Other notable projects included exclusive reporting on labor abuses in China’s
dominant solar supply chain and previously unreported emissions from its industrial
giants; a look inside next-generation battery startup QuantumScape; an investigative
challenge to a new form of carbon offsets being adopted by natural gas traders;
an expose of the unanticipated consequences of BP’s departure from Alaska;
and an up-close look at the science — and scientists — engaged in real-time analysis
of deadly heat waves.
2021 Impact Report38

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

News & media

Bloomberg Television

Bloomberg Radio

Bloomberg Television is available in more than 400 million homes worldwide inover 70 countries and also streams live on Bloomberg TV+. BTV+ is an enhanced
version of Bloomberg Television that combines the power of Bloomberg data andtrusted programming with a state-of-the art digital format. It streams live on AppleTV, Android TV, Fire TV, Roku and Samsung TV. Bloomberg TV delivers 24 hours ofcontinuous global business and financial news, taking advantage of global reporting
strengths and news gathering assets.

Bloomberg Radio can be heard on its five flagship stations in Boston, New York City,San Francisco, Washington, D.C., and London. Bloomberg shows and short-form
reports are also heard on more than 400 radio stations across the U.S. Bloomberg
Radio can also be heard nationally on SiriusXM satellite radio channel 119 and liveon Bloomberg.com and the Bloomberg Business, iHeart and Tune-In mobile apps.
The Bloomberg Green Business Report explores the latest developments in green
technology. The report profiles companies making breakthroughs in renewableenergy, zero-emission transportation and more.

Bloomberg TV covers global sustainability and clean energy through a unique lens,providing insight into and analysis of emerging technologies, policies and trends.
Our weekly program Bloomberg Commodities Edge focuses on the biggest stories
and trends in the commodities market, including sustainability, and draws on
proprietary BNEF research. The weekly Bloomberg Green program features news,
science and data on climate change. In 2021, Bloomberg TV launched Leaders with
Lacqua Goes Green, a new monthly series featuring interviews with climate leaders
working toward global change. Bloomberg TV also featured sustainability in its wider
programming throughout the year, with internal and external experts providing
insights and analysis of ESG investing.
Bloomberg Businessweek & Bloomberg Markets
Bloomberg Businessweek delivers the most comprehensive global business and financecontent of any magazine brand. In 2021, the magazine featured an investigation into the
Amazon rain forest that revealed Brazil’s government is engaged in an active campaign
to open up the land to privatization and development; exclusive reporting on how ESG
ratings that drive trillions of dollars into sustainable investing have little connection witha company’s impact on the planet; and a look at a chemical company that is rolling out
a new fire-resistant gel to prevent wildfires.

Bloomberg Quicktake
Originated in 2017 as a the first social-only news platform, Bloomberg Quicktake
launched as a global, 24/7 streaming news video network in November 2020. The
network pairs global, data-driven headlines with original premium content, covering
a diverse range of business topics for modern leaders. It’s available on major connected
TV platforms and streams daily on YouTube as well as Bloomberg owned andoperated digital platforms.
The network’s Bloomberg Green series covers climate change topics throughour global newsroom’s data-driven analysis. Additionally, programs such as
Gamechangers, featuring dreamers worldwide, Accelerate, which examines the futureof transportation and Spark, looking at radical tech and science, elevate people andbusinesses innovating to protect the earth.

Bloomberg Markets, our bimonthly magazine for a financial audience, featured stories
on carbon trading, climate-related policymaking, green power and climate risks lurking
within government debt.
Issue 4 Spring/Summer 2021
417.89 parts per million CO2 in the atmosphere

Cities vs. the End
Of the World

Cleaner, faster, smarter. Improving cities
is the key to thriving in a hotter future2021 Impact Report39

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

EventsAdvancing the conversation.
Our events connect forward-thinking business leaderswith climate innovators and inspire action.

BloombergNEF Summits

Sustainable Business Summits

Bloomberg New Economy Forum

Bloomberg Green Summits 

BloombergNEF provides a platformto generate ideas, deliver insights andestablish the connections needed tocapitalize on technological change
and shape a cleaner, more competitive
future. In 2021, BloombergNEF
hosted six Summits, supported by its
market-leading research, that focusedon industries in transition. The San
Francisco, New York, Munich, New Delhi
and Shanghai summits each took place
fully virtually, with a total of more than
2,400 leaders and strategists in energy,
industry, transport, technology, financeand government tuning in. The London
Summit, a hybrid conference, drew morethan 450 in-person attendees and 300
remote participants.

Bloomberg’s Sustainable Business
Summits bring together businessleaders and investors globally to drive
innovation and scale best practices
in sustainable business and finance.
We hosted two virtual summits in 2021
— Sustainable Business Summit Global
in July and a finance-focused summit inDecember in conjunction with
Bloomberg’s fourth annual Sustainable
Finance Week. The July summit
spanned key markets and time zones
to convene conversations about theroad to net zero, the financial case forsustainability and the “S” in ESG.
The December summit explored truth
and transparency, collaborating forsuccess and maximizing performance
while providing a positive social impact.

Each year, Bloomberg Media’s annual
New Economy Forum gathers theworld’s most influential public- andprivate-sector leaders to address theurgent problems of a global economy intransition. Mike Bloomberg hosted thefourth annual Bloomberg New Economy
Forum in November, welcoming
more than 300 heads of state, CEOs,
entrepreneurs and academics toSingapore. Occurring just days after theconclusion of COP26, climate change
was top of mind for many attendees,
and sessions on turning net-zerocommitments into action, financing thegreen transition, emerging technologies
and more drove substantive dialogue
among the delegates. Speakers
included U.S. Climate Envoy John Kerry,
who encouraged nations to reduce theirdependence on coal to keep global
emission reductions on track, and theheads of HSBC, Macquarie Group andTata Sons, who discussed funding agreen transition in emerging markets.

Bloomberg Green hosted two
Bloomberg Green Summits in 2021.
The April Summit, a virtual event,featured climate leaders in a series ofsolutions-oriented panels, presentations
and fireside chats focused on core
issues of climate action. The fall
edition of the Bloomberg Green
Summit convened executives andthought leaders in person at COP26
while broadcasting to a global virtual
audience. Focused on local solutions
for a global impact, the event included
a mixture of keynote interviews, panel
conversations and presentations.

2021 Impact Report40

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Public policy

Strengthening market-driven
action on climate.

Global growth
Global momentum behind the TCFD framework grew significantly in 2021,
with 1,000 more companies pledging support for the TCFD recommendations— an increase of over 70% since 2020. For the first time, more than 50% of
public company reports reviewed by the TCFD for its annual status reportdisclosed climate-related risks and opportunities. Brazil, the European Union,
Hong Kong, Japan, New Zealand, Singapore, Switzerland and the United
Kingdom proposed or advanced laws and regulations to require disclosurealigned with the TCFD recommendations. Meanwhile, multiple international
accounting standard setters and regulators, including the G7 and the G20,
endorsed the TCFD framework.

We’re leading efforts to unlock privatesector investment in clean energy andlow-carbon solutions.
Avoiding catastrophic climate change will require vast amounts of new investment— an estimated $100 trillion to $150 trillion over the next three decades — forbuilding sustainable infrastructure, developing new technologies and ramping
up adoption of clean energy. In 2021, as companies and countries developed new
net-zero carbon emissions goals ahead of the UN Climate Conference in Glasgow,
Bloomberg stepped up its efforts to accelerate private investment in clean energy
and climate solutions.

3,200+
supporters1

Businesses need information to evaluate opportunities and channel funds tosustainable and resilient investments, and Bloomberg has focused on increasing
and improving climate-related financial data for years. In 2015, we helped launch
the Sustainability Accounting Standards Board (SASB), which works with investors
and businesses to set standards for measuring, managing and reporting onsustainability factors that drive value and affect financial performance. In 2021,
SASB merged with the International Integrated Reporting Council to form
the Value Reporting Foundation; Mary Schapiro, Vice Chair for Global Public Policy
at Bloomberg L.P., serves as Co-Vice Chair of the new organization.

89

countries & jurisdictions
represented

120+

regulators &governmental entities

1,069

financial institutions$25 trillion
in total market
capitalization

Strengthening financial reporting
Mike Bloomberg chairs the Task Force on Climate-related Financial Disclosures(TCFD), which provides a reporting framework that helps companies more effectively
disclose climate-related financial risks and opportunities. As global momentum
behind the TCFD framework grew in 2021, the Task Force supported jurisdictional
initiatives to make climate-related disclosures mandatory and efforts to develop
a global baseline sustainability reporting standard built on its recommendations.
In November, the International Financial Reporting Standards (IFRS) Foundation
announced that its new International Sustainability Standards Board (ISSB) would
build upon the work of the TCFD as it developed its international climate-related
disclosure standards.
Countries & jurisdictions with TCFD supporters
Jurisdictions with TCFD-aligned reporting requirements

GRI: 203-2

1

As of April 2022

2021 Impact Report41

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Public policy

Unlocking climate financeMarket infrastructure support

The Climate Finance Leadership Initiative (CFLI), chaired by Mike Bloomberg,
tackles the challenge of unlocking climate finance in emerging markets. CFLI
launched its Country Pilots initiative, a series of multi-year capital mobilization
efforts that align public and private resources around a narrow set of highpriority, sector-specific opportunities in emerging market countries. In the nearterm, the initiative aims to catalyze immediate investment and identify upstream
policy reforms to facilitate private capital flows. In the long term, the effort hopes
to align influential private-sector financial institutions on sector-specific priorities
and elevate considerations for policymakers.

We’re supporting market-driven initiatives to improve both the supply sideand the demand side of sustainable finance.

Supply side

Demand side

Efforts that improve ESG data and help
companies better communicate theirlong-term strategies around material
sustainability issues and the transition
to a low-carbon economy.

Complementary efforts to “makea market in transition,” or empowercompanies, investors and creditors
to seize opportunities in the transition
to a low-carbon economy.

CFLI India, the first Country Pilot, launched in September. Supported by the
U.K. government, the government of India, the City of London Corporation,
the Global Infrastructure Facility and Bloomberg L.P., CFLI India is engaging
the multilateral community to strengthen the enabling environment for private
capital and partnering with local stakeholders with the aim of generating enoughon- and offshore investment to help India achieve its target of reaching 500 GWof new renewable energy capacity by 2030.
Earlier in the year, CFLI published Unlocking Private Climate Finance in Emerging
Markets: Private Sector Considerations for Policymakers, a report highlighting
policies that can facilitate private investment in sustainable infrastructure.
Raising ambitions
Ultimately, mobilizing sustainable capital at the scale needed will require every
company, bank, insurer and investor globally to adjust their business models,develop credible plans for the transition to a low-carbon, climate-resilient
future and then implement those plans. To help raise net-zero ambitions acrossthe financial system, Bloomberg joined the Glasgow Financial Alliance for Net
Zero (GFANZ), a new coalition of financial institutions that has secured net-zerocommitments from more than 450 financial firms in 45 countries responsible forassets of more than $130 trillion. In November, Mike Bloomberg became Co-Chairof GFANZ and Mary Schapiro was appointed Vice Chair of GFANZ. They will help
lead the next phase of the alliance’s work — creating the tools and industry-wide
coordination to turn these commitments into action faster.

2021 Impact Report42

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Corporate philanthropy

Protecting the planet.
We’re taking action from the ground up.
Our company invests in protecting the environment and provides opportunities forour employees, clients and communities to drive measurable, local action on climatechange. In 2021, these included a number of philanthropic activities during the COP26
climate talks in Glasgow as well as a limited return to in-person events when the
COVID-19 pandemic abated in different regions.

Engaging young people

Powering change

Count Us In

More than 250 Bloomberg employees, clients and community members — including
British Olympic gold medalists Jason Kenny and Laura Kenny — took part in theinaugural Bloomberg Power Ride, held in the Bloomberg Arcade outside our London
office in November. Riding 16 static RE:GEN bikes hooked up to battery packs in aseries of 30-minute sessions over two days, participants produced 32 kWh of green
energy, to be donated to local nonprofit partner Greenhouse Sports to power threeof its after-school sports clubs. We’re planning to bring Bloomberg Power Ride to offices
in other cities in 2022.

In 2021, Bloomberg joined the Count Us In Employee Challenge, an initiative thatencourages employees at leading businesses to take practical climate action in
their everyday lives to reduce carbon emissions. The project provides guidance on
the most effective steps individuals can take, like repairing items or eating moresustainably, and quantifies the carbon savings of employees’ actions. Hundredsof employees are tracking their climate-related activities through Count Us In; weplan to expand the campaign in 2022.

Building on our collaboration with the Mayor of London, Bloomberg L.P. supported
Climate Kick-Start, a week of climate-related activities for young Londoners during
COP26, awarding £50,000 to local schools to kick-start or accelerate exemplary
environmental projects.

Earthshot Prize Global AllianceBloomberg L.P. joined forces with 13 world leading companies and brands tocreate the Earthshot Prize Global Alliance, a business network backing the newenvironment prize. Established by Prince William and The Royal Foundation, The
Earthshot Prize aims to find and reward extraordinary solutions to environmental
challenges over the next 10 years. By harnessing employees’ skills and talent, as
well as the global resources of the company, Bloomberg will help scale theseambitious climate solutions for a better planet.

Bloomberg Power Ride.

GRI: 203-2, 413-1

2021 Impact Report43

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Corporate philanthropy

Supporting impactful organizations.
Bloomberg supports nonprofit organizations working to protect the natural world in
our cities, including Kew Gardens in London, Gardens by the Bay in Singapore andGovernors Island in New York City.
Employees regularly partner with nonprofit organizations to preserve naturalenvironments in our cities through activities including park and woodland restoration,
canal and river clean-ups and litter-picking.

Protecting the environment in New York: (L to R) Intern Day of Service on Governors Island, volunteering at the Billion Oyster Project, spring clean-up on Governors Island.
2021 Impact Report44

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Corporate philanthropy

Bloomberg Philanthropies’ Environment
program tackles the most serious threats to ourenvironment around the world.

Accelerating local climate action

Bloomberg Philanthropies is at the forefront of U.S. and global efforts to fight climatechange and protect the environment across a key array of issues. Bringing together
mayors and other government and business leaders, grassroots partners andenvironmental advocates, Bloomberg Philanthropies implements bold programs
that tackle the climate crisis and help build a more sustainable, resilient and equitableeconomy. Our efforts are accelerating the transition from coal to clean energy,
improving air quality and public health, advancing city climate action, protecting
and preserving ocean ecosystems and helping to unlock billions of dollars insustainable finance.

Our work supporting local leaders includes helping to lead America is All In, the most
expansive coalition ever assembled in support of U.S. climate action, including thousandsof cities, states, tribal nations, businesses and other organizations championing an all-in,
all-of-society approach to climate change mitigation. In recent years, bold climate action
by non-federal actors has kept the United States on track to reach its Paris Agreement
climate targets. America is All In is building on this progress by mobilizing U.S. non-federal
leaders to set a high bar for climate legislation and help the United States deliver on
its climate ambitions. In September, America is All In released Blueprint 2030: An All-In
Climate Strategy for Faster, More Durable Emissions Reductions, a set of policies andactions that can reduce emissions 50 to 52 percent below 2005 levels by 2030 byleveraging the capabilities of business, civil society and all levels of government.

America is All In is advocating for an “all-in” approach to tackling climate change that leverages

The
All-InClimateStrategy
the strengths
and capabilitiesof business,
civil society and all levels of government to cut U.S.
emissions in half by 2030.

P
SU

RT
PO

I NG

T I OU S C L I M
A MB I
AT

Accelerate ambition with local
action, codes and zoning

INF O
RC

CT

IO
N

Change markets, develop
new technologies

Civil SocietyYAB

L I NG P

I
OL

C

Local

N

RE
G,

G, &
IN

Push ambition and set
the pace of standards,
invest in state action

EA

Business

State

EN

In November, Bloomberg Philanthropies announced a major new initiative to close aquarter of the world’s 2,455 coal plants — and block all 500-plus proposed coal plants— by 2025. The campaign will expand current plant-closure efforts to an additional 25
developing countries where coal power is projected to grow. With the Powering Past
Coal Alliance, Bloomberg Philanthropies has also launched the Bloomberg Global CoalCountdown, a comprehensive online resource that tracks the status of every global plant.

The all-in climate strategy

FIGURE ES-1

I

Bloomberg Philanthropies is working to move the world off coal, the single largest
contributor to climate change and a major source of deadly pollutants. Since 2011,
Bloomberg Philanthropies’ backing of the Sierra Club’s Beyond Coal campaign has
helped retire more than 65 percent of coal-fired power plants in the United States.
The Beyond Carbon initiative, launched by Bloomberg Philanthropies and Mike
Bloomberg in 2019, is building on this progress to close 100 percent of all coal-fired
power plants in the U.S. by 2030, stop the construction of proposed gas plants
and enact state and local climate policy changes. Outside of the U.S., Bloomberg
Philanthropies’ support for Europe Beyond Coal has helped retire half of all coal plantson the continent in the past four years. These successes have inspired Beyond Coal
campaigns in Australia, South Korea and Japan.

C R EAT

Accelerating the global transition to clean energy

Bloomberg Philanthropies supports mayors and local partners to ensure that cities havethe resources they need to raise their climate ambitions, share learnings and makeprogress in the transition to a sustainable, healthy future.

Inspire, educate andmobilize the public

National
Set national standards, invest in
infrastructure, incentives and RD&D

Source: Blueprint 2030
2021 Impact Report45

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Corporate philanthropy

Improving global air qualityProtecting ocean ecosystems

Air pollution is a major threat to public health for millions of people worldwide andis often caused by the burning of fossil fuels. Bloomberg Philanthropies’ supports
ambitious clean air efforts through support for pilot projects in Brussels, Jakarta,
London and Paris as well as partnerships with national governments and organizations,
including in India and Indonesia. Using data gathered through collaboration with
Bloomberg employees, and using innovative new technologies, the program works
to identify the sources of air pollution, educate communities on the impact of low air
quality and develop science-backed solutions to clean the air.

Bloomberg Philanthropies’ Vibrant Oceans Initiative is protecting and preserving ocean
ecosystems from the threat of climate change by collaborating with a global networkof partners to advance evidence-based conservation practices. Launched in 2014, theinitiative focuses efforts on 10 countries that produce more than 80 percent of all fishcaught worldwide to increase fishing transparency, end illegal practices at sea andprotect coral reefs. By leveraging data, the Vibrant Oceans Initiative also shapes andadvocates for national policies that protect and strengthen our oceans’ resilience andits many contributions to life on this planet. This work has helped protect more than 9.3
million square miles of ocean.

In November, Bloomberg Philanthropies launched a partnership with the City of Milan
to monitor air pollution and promote clean air in schools. The new initiative will deploy
a network of sensors at schools to better understand air pollution in Milan and sharethe data with city officials and the public via a new digital platform.

In 2021, the Vibrant Oceans Initiative released a study of the 50 Reefs approach toconservation, which prioritizes protecting a global portfolio of coral reefs that havethe greatest potential to survive climate change and repopulate surrounding reefs.
The assessment confirmed that this conservation method safeguards reefs andidentified strategies for further action. The Vibrant Oceans Initiative also supported thedevelopment of MERMAID (Marine Ecological Research Management Aid), a first-of-itskind open-source platform that collects and shares real-time data on coral reef health.

Visit Bloomberg Philanthropies to learn more.

2021 Impact Report46

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Spotlight

Scaling the summit.
With critical negotiations taking place at the United Nations climate talks in Glasgow,
Bloomberg launched a company-wide effort to boost climate action.
Time is running out for policymakers, companies and communities to prevent
catastrophic climate change. Limiting global warming to 1.5°C can lessen the severity
and scope of climate-related extreme weather events, ecosystem collapse and humansuffering. However, to achieve this, countries must cut carbon emissions in half by 2030
and reduce emissions to net zero around 2050.
Given this narrow window of opportunity, the United Nations called on countries touse its 2021 climate conference, the 26th Conference of Parties (COP26) in Glasgow,
to commit to higher targets for reducing carbon emissions and bold plans forturning ambition into action. To build momentum for the most important climate
talks since the Paris Agreement was signed in 2015, Bloomberg L.P. and Bloomberg
Philanthropies launched dozens of climate-focused investments, partnerships,
capacity-building initiatives and educational efforts in 2021, supporting climate
action at COP26 and beyond.
In the two months leading up to the November conference, we focused our climate
actions on three key themes: accelerating the clean energy transition, elevating local
climate action and mobilizing climate finance. Once the conference got under way,
Bloomberg L.P. served as an official partner to COP26, providing delegates withaccess to Bloomberg data and expert analysis, including exclusive insights from
BloombergNEF and Bloomberg Intelligence, to support informed decision making.

60 days of climate action

Some highlights from our COP26 initiatives:
Elevating local climate action•••

Race to Zero/Race to Resilience: Bloomberg Philanthropies supported the Race To
Zero and Race to Resilience, two UN-backed campaigns to incorporate non-state
climate leaders and organizations into the climate process in the lead-up to COP26.
(Bloomberg L.P. is a Race to Zero member.) As the Race to Zero shifts into a newphase to accelerate the delivery of climate action and the Race to Resilience
continues to drive progress toward a safer and more secure world, Bloomberg
continues to support these initiatives, strengthening the capacity of businesses,
cities, regions, investors, educational institutions and health care institutions to
reduce emissions and build climate resilience.
Global Youth Summit on Net-Zero Future: In the lead-up to COP26, Bloomberg L.P.
served as the Convening Partner at the Global Alliance of Universities on Climate’s
week-long Global Youth Summit on Net-Zero Future. More than 400 students
from 50 universities joined the hybrid event, which included a climate-solutions
hackathon that Bloomberg employees joined.
Tiny Forests: Building on tree-planting initiatives, Bloomberg L.P. supported theplanting of eight miniature forests comprised of fast-growing native trees acrossGlasgow. The forests, planted by children from local schools and partners, will
provide the surrounding community with pockets of accessible green space andopportunities to connect with nature in the city.

To build momentum for the UN’s climate agenda ahead of COP26, Bloomberg
L.P., Bloomberg Philanthropies and Mike Bloomberg joined in a Bloomberg-wide
effort to turbocharge climate progress through a climate action a day.
Bloomberg and its partners took 85 actions in 60 days. Bloomberg
Philanthropies made a number of investments to spur wider action, including
a $10.5 million donation to strengthen climate capacity across the UN andpromote climate ambition and solutions ahead of COP26. Bloomberg L.P.
and Bloomberg Philanthropies hosted events with global leaders, supported
climate-related art installations and convened civil society leaders to discuss thechallenges and solutions needed to collectively achieve net-zero targets.
Read more at Bloomberg Philanthropies.
GRI: 203-2, 413-1

2021 Impact Report47

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Spotlight

Accelerating the clean energy transition••

Mobilizing climate finance

NetZero Pathfinders: In October, Bloomberg L.P. and Bloomberg Philanthropies
launched NetZero Pathfinders, a public resource for policymakers that simplifies
the search for climate solutions. The interactive Pathfinders web portal provides
actionable policy ideas and insights from BloombergNEF and numerous
partner organizations to help governments design and implement effective
decarbonization strategies.
Energy transition research: To increase transparency and inform policy priorities
ahead of COP26 and other international climate negotiations, BloombergNEF andBloomberg Philanthropies released the Climate Policy Factbook, a report outlining the
progress that each G20 member country has made toward moving to a low-carbon
economy. BloombergNEF also focused the 2021 edition of its New Energy Outlook,its annual long-term scenario analysis on the future of the energy economy, on
supporting strategy development and long-term planning in the lead-up to COP26.
The report offered three distinct pathways to achieving the Paris Climate Agreement
goal of net-zero emissions by 2050.

•

•

•

New Energy Outlook: Three scenarios
Each of BloombergNEF’s three scenarios for achieving net-zero emissions by 2050
requires major transformations in primary energy supply.
2019

83%
Fossil

12%

2050

2050

Green Scenario

Gray Scenario

10%

52%

Fossil85%

Fossil

42%

2050

7%

27%

Renewables

Renewables

Nuclear

Nuclear

Nuclear

Nuclear

Source: New Energy Outlook 2021

5%

Multiplying the Transition report: BloombergNEF and Climate Investment Funds
released Multiplying the Transition, a study that examines the role financial
intermediaries play in mobilizing clean energy investment in emerging markets,with a focus on clean power and transport. The report also presents five actionablecountry-specific clean energy finance road maps for key emitters, including Brazil,
India and Indonesia.

FossilRenewables

5%

Bloomberg Goldman Sachs Global Clean Energy Index: Working with Goldman
Sachs, Bloomberg L.P.’s index team developed and launched the Bloomberg
Goldman Sachs Global Clean Energy Index, a modified free float-adjusted market
capitalization-weighted index tracking the performance of more than 175 global
equities with significant business exposure to the clean energy sector. The Index
is designed to help mainstream investors play a larger role in financing the clean
energy transition, which is especially critical as the climate crisis intensifies.

Red Scenario

Renewables

5%

Net Zero Financial Service Providers Alliance: Bloomberg L.P. became a founding
member of the Net Zero Financial Service Providers Alliance, a new group thatbrings together the world’s largest ratings agencies, stock exchanges, data
providers and more to help put climate at the heart of every professional financial
decision. Along with the other members, we have committed to aligning our products
and services with achieving a net-zero economy by 2050 while continuing todecarbonize our own operations. The alliance is part of the Glasgow Financial
Alliance for Net Zero (GFANZ).

66%

Bloomberg News & Editorial: Critical coverageWith two dozen journalists on the ground, Bloomberg News & Editorial offeredcomprehensive daily news coverage, in-depth analysis and insightfulinterviews throughout COP26. Bloomberg Television aired a COP26 Special,
taped two episodes of its weekly Bloomberg Green program in Glasgow
and conducted numerous interviews with conference delegates and climate
leaders. Bloomberg Green, our editorial brand focused on climate change
and the energy transition, produced two COP26 newsletters daily and lifted
the paywall on its content for the duration of the event. Bloomberg Green also
hosted several events focused on creating solutions to support the goals set
forth at COP26 at the Bloomberg Green COP26 Hub, drawing 400+ attendees
in Glasgow.

2021 Impact Report48

Contents

Approach

Reducing our emissions

We’re investing in an increasingly
diverse workforce.
To shape the future, we rely on creative, collaborative employees with diverse
experiences and a global outlook. We inspire our employees by providing
opportunities to make a difference and supporting their personal growth.

Supporting climate action

Goals

Investing in our people

2021 progress

Improve recruitment,
advancement and retentionof underrepresented talent

•

•

•

2021 highlights
50

Diversity & inclusion

53

Leadership & talent development

54

Health and well-being

55

Spotlight: Providing healthy workspaces

56

Employee engagement

Driving social change

Drive businessaccountability for diversity
and inclusion
Foster a culture of inclusion

Deliver best-in-classtraining and benefits

•

•

•

•

•

Engage employees
in Bloomberg’s
philanthropic initiatives
and culture•• 25 diverse employees supported by targeted
5career development programs
 4% of GOAL 2.0 career accelerator program
6
participants experienced career growth during
or after the program 5% retention of employees who have8
participated in a career development program1 00% of Bloomberg departments havedepartment-level D&I plans ,800+ Bloomberg employees belong to at
8least one Bloomberg Community
 ,700+ new hires enrolled in 12-month program for2
new employees 00 new team leaders supported through TLx,
5
our leadership development experience 00,000+ on-site COVID-19 tests provided to4
employees at U.K. and U.S. offices
1 7,046 participants in our volunteer, giving andcultural access programs
614 team volunteering projects

Female: 34.3%

Not declared: 0.1%%
Male: 65.6%

Global gender ratio

2021 Impact Report49

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Diversity & inclusion

Creating a culture where innovation can thrive.
We believe that disruptive, breakthrough ideas
come about when diverse teams look at challenges
from different angles.
Our global diversity and inclusion strategy focuses on ensuring business andleadership accountability, understanding and tracking how diverse talent moves
throughout the organization and identifying strategic partnerships that can help
advance our D&I efforts.
Every department maintains a D&I plan that supports innovation through strategies
for recruitment, progression, product development and client relationships. Businessheads are held accountable for achieving goals. They participate in an annual D&I
Organizational Health Review to assess progress on representation and the impactof their initiatives and report their results to the Management Committee.
Systemic inequalities can only be tackled through inclusive practices. We strive
to eliminate bias from all communications to candidates globally by investing intechnology, systems and processes to promote diverse hiring and to build a strong
pipeline of talent.
In 2021, many of the stressors and challenges that arose in the prior year with the
COVID-19 pandemic and growing social inequality continued to challenge our people,
disproportionately affecting underrepresented talent. Bloomberg put several new
programs and supports in place to ensure that our employees can thrive both in theoffice and at home as we continue to adapt to a hybrid working environment.

Diversity at Bloomberg
Our year-old employee self-identification
campaign — “Share Today. Shape Tomorrow” — isimproving our understanding of our workforce,
especially in Europe, the Middle East and Africa.
It’s bolstering our ability to identify trends, support
employees’ needs and track the progress of our
D&I agenda.

Connecting with talentWe’ve forged strategic partnerships with global partners and nonprofits to expandand strengthen our pipeline of diverse talent at all levels. Bloomberg L.P. is a Founding
Partner of the newly launched CUNY Futures in Finance initiative, providing catalytic
funding to prepare City University of New York (CUNY) students for careers in finance.
The program aims to serve 4,500 students per year, with at least 25 percent ofstudents participating in internships at local firms, and will serve as a new sourceof diverse local candidates for financial services companies across New York City,
including Bloomberg.
In the U.S., our Diversity Sourcing Team added diverse talent to our candidate slates
while building a cohort of candidates we can leverage for opportunities as they arise
through engagement with organizations like Management Leadership for Tomorrow, Blackin HR, the National Association of Black Journalists and the National Association of Hispanic
Journalists. We are looking to expand this model in Europe, the Middle East and Africa
in the coming year, while continuing to foster strong partnerships that will help to raise
Bloomberg’s brand awareness in the U.S.

Global gender ratio

U.S. ethnicity ratio

U.K. ethnicity ratio

Male: 65.6%

White: 49.7%

White: 45.4%

Female: 34.3%

Asian: 34%

Not declared: 0.1%

Hispanic: 7.5%

Other orunknown: 32.5%

GRI: 2-7; 405–1
SASB: TC–IM–330a.1—a.3; SV–ME–260a.1—a.2; SV–PS–330a.1—a.3

Black: 4.4%
Other orunknown: 4.4%

Asian: 14.1%
Mixed: 4.6%
Black: 3.5%2021 Impact Report50

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Diversity & inclusion

Advancing careers

Fostering an inclusive culture

We offer several programs to support the careers of women and ethnically diverse
employees at Bloomberg. Our Growth, Opportunities, Access and Leadership(GOAL) 1.0 Development Program builds skills that help participants successfully
navigate Bloomberg and take on expanded roles and leadership opportunities
across the firm. GOAL 2.0 is an acceleration program that provides further
development, exposure and mentorship. In 2021, we significantly increased our
GOAL 1.0 numbers, with five global cohorts participating in development programs
for underrepresented groups. We expanded GOAL 2.0 globally in 2021, welcoming
149 participants, 64 percent of whom have since experienced career growth or madelateral moves.

We believe our employees have a responsibility to participate in nurturing an inclusive
culture at Bloomberg, and we are committed to providing the tools and resources
employees need to take action. Our online D&I learning center (BU DI<GO>) gives
employees access to core curriculum modules on disability, gender and cultural
inclusion in the workplace alongside resources on topics including minimizing bias,
developing inclusive behavior and managing across differences. We have mandatory
inclusion training for individual contributors and for team leaders and managers,
mandatory Inclusive Leadership workshops and online modules.

We also launched the GOAL Insights series in the Americas, Europe, the Middle
East and Africa to provide broader access to these development opportunities.
The series offered six modules of live instruction to 100 participants, each ona first come, first served basis. In addition, 125 employees participated in our
Diversity Mentorship Program, a six-month program with senior leaders serving as
mentors. Over the last four years, 35 percent of participants have progressed into aleadership role.
Our Senior Women’s Forum serves women further along in their careers. Supporting
our Bloomberg goal of improving female retention, development and advancement,
the forum provides a space for peer networking and advocacy. In 2021, the Senior
Women’s Forum established an Asia-Pacific chapter and reached 300 women
globally. We also launched the Multicultural Leaders Forum in the Americas,
Europe, the Middle East and Africa, providing more than 130 managers with newopportunities to connect, support the D&I agenda and gain visibility within the firm.

We adjust our training to address specific needs in regions as they arise. In 2021, welaunched the Culture Connect program in the Asia-Pacific region to help our teams
there foster a cohesive environment where differences can exist but respect andcollaboration are able to thrive. The program also offered training for leaders basedoutside Asia on understanding the cultural nuances of the workplace in the region.
Throughout all the work we undertook in 2021 to advance our diversity and inclusion
efforts, we engaged with our employees via the Communities to ensure that all
aspects of a person’s identity are recognized and supported. We embedded
discussion of intersectional identities in our diversity and inclusion training andconsidered intersectionality as we planned D&I events.

2021 D&I campaign.

2021 Impact Report51

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Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Diversity & inclusion

Continuing conversations
In 2021, we talked about issues of diversity and inclusion more often, more openly
and more candidly than ever before. Our leaders spoke out against hatred anddiscrimination — including anti-Asian rhetoric and antisemitism. The Diversity &Inclusion team hosted dozens of drop-in office hours to provide a forum for employees
to discuss the impact of these and other events from a personal perspective.
Our D&I team hosted Inclusion Dialogue sessions that explored difficult topics,
including privilege, advantage and disadvantage and tactics for countering religious
prejudice in the workplace. The Bloomberg Women’s Community launched BWC
Amplify, an event series featuring inspirational women and allies across Bloomberg
in a safe space promoting honest conversations about career development. And
our employee newsletter pushed the envelope further with pieces on culture andimmigration and the newsletter’s most-read story of the year: an article about
experiencing religious- or cultural-based violence or discrimination, featuring
interviews with Bloomberg employees around the world.

Bloomberg Communities
Members of our nine employee-run Bloomberg Communities serve as role models,spreading a message of inclusion throughout our global workplace andadvocating for their colleagues to support our philanthropic initiatives that
impact their communities. Many employees belong to more than one group,and Communities co-host events and collaborate with one another, providing
space to learn about and support intersectional identities.

Abilities
Community
Working Families
Community

Black Professional
CommunityAwards & pledges
•

•

•

•

•

 loomberg earned a perfect score on the Human Rights Campaign
BFoundation’s 2022 Corporate Equality Index
Bloomberg Japan won a Gold Award in the PRIDE Index 2021 andan ACE Award from the Accessibility Consortium of Enterprises

Women’sCommunity

8,800+

Diversity Network& Allies
Community

employees belong toa Bloomberg Community

Bloomberg signed the Armed Forces Covenant loomberg signed on to Human Rights Campaign’s Business Statement on
Banti-LGBTQ state legislation
Bloomberg signed the Business In The Community Race at Work Charter

Pan-AsianCommunity

LatinxCommunity

Military & Veterans
CommunityLGBT & Ally
Community

2021 Impact Report52

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Leadership & talent development

Activating every employee’s potential.
We empower our employees to do meaningful workthat has a global impact.
The Leadership & Talent Development team contributes to Bloomberg’s sustainability
by creating a range of opportunities for employees to grow in their careers, their roles
or as leaders within our businesses.
During 2021, we continued to evaluate and develop our leadership and talentofferings to address the current realities of the ongoing pandemic, the changing
nature of work and the important issues of mental health and burnout. We createdmore bite-sized learning modules and asynchronous and on-demand learning to help
combat Zoom fatigue and added training on topics such as leading in transition andhow to be successful working in a hybrid environment.
Welcoming new joiners
More than 2,700 new employees onboarded and assimilated to their roles, our culture
and our technology while working remotely or on a hybrid schedule. Our 365-day
new hire experience helps new employees fit in quickly, then builds their ability to be
productive and innovative at Bloomberg. As participants move through the four phasesof the program throughout their first year — Get Informed, Settle In, Dive Deeper and
Get Involved — they learn more about our business and our values, connect with ourDiversity and Inclusion and Corporate Philanthropy teams, meet with senior leadersand network with fellow new hires and the wider Bloomberg community.

Building up new leaders
Our Team Leader Experience (TLx) is a regional, cohort-based leadership programfor first-time team leaders and bureau chiefs that’s designed to help new leadersdevelop the core skills and network to be successful in their expanded roles.
TLx provides 12 months of leadership development in a mix of formats, including live
sessions and self-paced online learning. More than 500 employees globally wereactively engaged in or completed the program in 2021.

The TLx journey
Leadership starts here
First few weeks

Building a foundation
First few months

Leadership in action
4-6 months

Level up your leadership
12-15 months

TLx kickoff

New TL toolkit

Live event

Advanced modules

Support from managers, HR, peers and experts
TLx road map
Bloomberg Leadership
Attributes
Your leadership identity

GRI: 404–1 — 404–3

Foundational
leadership skills
Core policies

Goal-setting

Situational leadership

Delegation

Advancedleadership skills

Inclusive leadership
Feedback &coaching skills

2021 Impact Report53

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Health & well-being

Helping employees thrive.
We take care of employees so they
can focus on changing the world.
Bloomberg provides a comprehensive suite of programs designed to improve
the financial, physical and mental health and well-being of employees and theirdependents, reduce health risks and manage work and family demands. We support
employees’ work and family needs across all major life events with benefits that alignwith our diversity and inclusion priorities.
Throughout 2021, as the COVID-19 pandemic continued, we provided additional
support to our employees to help them manage challenging times and return tothe office safely.
Enabling health, wealth and wellnessWe offer programs and resources to assist with fertility, adoption, lactation, parenting,child care, education and adult/elder care. (Programs vary by location.) We also
provide a generous gender-neutral parental leave of 26 weeks for employees
worldwide. To help manage the ongoing child care challenges for families during
COVID-19, we maintained our enhanced work-family benefits, including offering extra
days of back-up dependent care in the U.S., waiving co-pays for in-home care andimplementing deeper discounts for tutoring services.

Supporting mental healthWith the pandemic continuing to add stress to daily life, supporting mental
health and resiliency was a key priority for Human Resources. Our mental healthbenefits include counseling, therapy and telehealth services in the U.S. Our global
support includes an interactive mental health portal that connects employees
to Bloomberg’s mental health benefits and additional resources, an online chat,mental health first aid training and dedicated wellness spaces in our offices.
Ahead of Mental Health Awareness Month in May, we launched the U.S. Mental
Health Advocate program, which provides leaders with training on mental healthissues, including risk factors and warning signs for mental health and addiction
issues, strategies to help colleagues and sources of help.

Our financial well-being benefits include financial education and access to financial
planners; student loan refinancing; income protection through insurance anda variety of retirement plans, including an ESG fund option in the U.S. and U.K.
fund lineups. In a number of our global locations, we provide discounts for gym
memberships, weight loss programs and other fitness-related activities andsubsidies for Bloomberg sports teams. In locations where we have a larger footprint,
we maintain on-site wellness services, including four health centers (three in the U.S.
and one in London) and wellness coaches in New York City and New Jersey.

GRI: 201–3; 401–2; 403–1 — 403–10

2021 Impact Report54

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Spotlight

Providing healthy workspaces.
Keeping our employees safe as they return toour offices around the world is a top priority.
As COVID-19 vaccination rates increased and travel corridors reopened, we encouraged
our employees to return to the office at least three days a week, when local regulations
allowed. We invested in a variety of measures to reduce the risk of infection while atwork, adapting our strategies as the pandemic evolved and scientific understandingof the virus improved.
These and other policies and procedures helped us achieve the WELL Health-Safety
Rating on Facility Operations and Management through the International WELL
Building Institute in 2021 for 78 Bloomberg locations, representing more than90 percent of our global office portfolio. The WELL Health-Safety Rating assesses morethan 20 features across the following areas: cleaning and sanitization procedures;
emergency preparedness programs; health service resources; air and water quality
management; stakeholder engagement and communication; and innovation.
Companies need to meet science-based standards on a minimum of 15 featuresto achieve the rating.

We also made better use of outdoor spaces, including expanding the terraces andoutdoor seating at our New York headquarters to give employees access to more
usable space around the building’s perimeter.
Encouraging safe behavior
Throughout the pandemic, we’ve strived to help employees protect themselves
and their colleagues from COVID, including providing free on-site COVID testing inseveral offices and free at-home tests, supplying face masks and covering up to $75
a day for employees’ out-of-pocket transportation costs to provide safer and lesscrowded commuting options. We also implemented a COVID vaccine requirement
for all U.S. employees.

Here are some examples of how we provided safe and healthy office space for
Bloomberg employees in 2021:
Focusing on air quality
As it became clear that COVID-19 spreads through airborne transmission, we focusedon monitoring and enhancing air quality in Bloomberg offices. We addressed indoor
air quality in three ways: increasing office ventilation, cleaning the air through upgradedfilters and investing in bipolar ionization technology to sanitize the air. Our European
headquarters in London took advantage of its built-in natural ventilation system —a bronze facade that we can open to allow fresh air to flow into the building — andincreased the amount of fresh air entering the office by up to 250 percent.
Office enhancements
We made several modifications indoors to reduce respiratory particle exposureand surface contact in common areas, including installing Plexi desk visors, adding
sensors to soap dispensers and other high-touch items and adding foot pedals
to trash cans and doors. We programmed our elevators to operate automatically,
reducing touchpoints, and enhanced our cleaning protocols, increasing cleaning
frequency and using products that met U.S. Centers for Disease Control andPrevention recommendations.

Our London building features bronze window blades that open, allowing us to increase fresh air
flowing through the space.
2021 Impact Report55

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Employee engagement

Making connections.
We provide opportunities for employees
to grow through new experiences.
Our employee engagement programs include volunteering opportunities, talks withleading thinkers in business, philanthropy and the arts and access to cultural institutions.
These activities expose employees to new perspectives that can spark ideas, strengthen
bonds with colleagues and inspire teams to better navigate business challenges.
Throughout the year, the Communications, Marketing, Corporate Philanthropy,
HR and Management teams helped Bloomberg employees stay connected to thecompany and each other through virtual, hybrid and on-site events, social media,
a weekly employee newsletter and more. Some networking innovations came from
Bloomberg engineers, such as Coffee Roulette, an automated tool on the Terminalthat randomly connects small groups of Bloomberg employees for conversations.
More than a third of Bloomberg employees participated in a virtual or live Coffee
Roulette meet-up after it was launched in 2021, including groups of new hires,interns and D&I Community members.
Best of Bloomberg

Access to culture
As communities around the world came back together, Bloomberg worked to placeculture at the center of recovery. In 2021, employees and their families benefited
from complimentary or discounted access to 276 world-class galleries, museums andperforming arts institutions in 88 cities. Leveraging this unique network, over 11,000
employees across 131 cities attended cultural and philanthropic events, both online
and in person, offering a unique way to connect as well as providing much-needed
support to arts organizations.
GivingFor every 25 hours of service an employee puts in, up to 50 hours, Bloomberg provides$2,500 to donate to a charitable organization of their choosing. The company also
provides a match on personal charitable donations and charitable dollars for successful
employee referrals. In 2021, 3,572 employees from 74 cities contributed more than $8.4
million to 1,059 nonprofit partners through our employee giving program.

As many societies shifted from COVID-19 relief to recovery, we worked to keep our
employees connected and supporting our communities. In 2021, we conducted 614
team volunteering events and engaged 17,046 employees from 167 cities through ourBest of Bloomberg volunteering, access and giving programs.
Volunteering
In 2021, 12,067 employees from 143 cities volunteered to support local causes
through necessity provision, environmental stewardship and educational mentoring.
From creating and distributing 93,991 necessity kits to support refugees, migrant
workers, vulnerable children and neighbors in need and delivering 25,148 educationaland career readiness mentoring interactions to support thousands of students fromunderserved communities to planting 11,390 trees and protecting local green spaces,
our employees continued to make a difference in the cities in which they live and work.

GRI: 413–1

20202021 Impact Report56

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Employee engagement

Supporting employee climate action
Employees play a critical role in Bloomberg’s climate work, and we provide
opportunities to learn more about climate change through our events and get
involved in sustainable activities in their communities. In April, we held a companywide climate town hall for employees, led by Mike Bloomberg, to discuss the climate
work happening across the company and at Bloomberg Philanthropies; throughout
the year, we updated employees on local climate initiatives that Bloomberg supports.
Our “Action is Everything” campaign encouraged employees to get involved inenvironmental stewardship projects in their communities.
Our climate benefits for employees include free electric vehicle charging at our
Princeton, Orangeburg and Ridge Road offices in New Jersey. In 2021, we expanded
this initiative to provide 56 chargers for employee vehicles.
Bloomberg’s partnership with solar provider Common Energy connects employeeswith solar projects that generate clean energy and lower emissions in theircommunities. Employees who participate in the program support new, local solar
projects and receive clean energy credits that reduce their electricity cost each month.
In 2021, we expanded access to the program to our New York City-based employees.
There are now over 200 employees in New York and New Jersey who are fully enrolled
and subscribed to clean energy projects across five states, with an additional 200+
employees in the enrollment process or on a wait list for the next project in theircommunity. Together, these projects will generate about 14 million kWh of clean
energy and prevent over 7 million pounds of carbon emissions each year. Bloomberg
will continue to collaborate with Common Energy on new projects that align with thecompany’s employee base across the U.S.

40th anniversary celebrations
In 2021, more than 5,000 employees celebrated Bloomberg’s 40th anniversary
with both in-person and virtual festivals around the world. A series of unexpected
activations, performances, food moments and activities re-immersed our employees
in the culture of our company and reminded them why working at Bloomberg is notlike working anywhere else.
Bloomberg stories
To commemorate Bloomberg’s 40 years in business, we invited employees to callone of three regional phone numbers and leave a voicemail describing a favorite
moment from working at the company. These messages were shared companywide via an online, interactive map. Employees clicked on different regions of the
map to hear colleagues’ stories — and see how individual experiences become
part of the larger story at Bloomberg.
Some of our employees’ favorite moments:

The summer picnic and trying
the chocolate crickets

Hosting the Prime Ministerof India

My transfer to the London
office and getting to expand
my horizons

Bloomberg’s caregiver leave policy
shows we really value employee
wellness

How incredibly energetic everything was
the first time I came to a Bloomberg office2021 Impact Report57

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Approach

Reducing our emissions

We’re driving change
on critical social issues.

Supporting climate action

Goals
Promote an inclusive
global economy

Investing in our people

2021 progress••

We provide data and news on sustainability and equality to help investors,
entrepreneurs and policymakers build more resilient and sustainable communities.
We use the time and talents of our employees and resources of our business topromote a more inclusive global economy, expand access to data and technology,
support diverse voices in media and the arts and meet urgent needs in the cities
in which our employees live and work.

•

•

•

2021 highlights
59

Global economy

63

Data & technology

65Media & the arts

67

Communities

Expand accessto data and technology
Support diverse voices
in media and the arts

•

•

•

•

Address the world’s mostpressing needs

Driving social change

7 50+ social and governance metrics tracked on
the Bloomberg Terminal
Bloomberg Governance Scores for 4,300+ companies
 18 companies included in the 2022 Bloomberg
4
Gender-Equality Index
 8 law firms recognized in Bloomberg Law’s
2inaugural DEI Framework Listing25,148 mentoring moments facilitated 0+ museums and cultural spaces sharing art and6
culture via the Bloomberg Connects app
 ,403 students and mid-level professionals in 24
2
countries from diverse backgrounds trained inbusiness journalism
 ew cohort of 100+ senior women and diverse
N
executives trained in media skills throughBloomberg’s New Voices program in 2021
7 ,000+ women in Bloomberg News’ expert
sources database•

12,067 employee volunteers•465 cities impacted•

1,704 nonprofits supported•

1.4 million meals distributed•

93,991 necessity kits assembled for people in need•

5,592 books, coats and toys donated2021 Impact Report58

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Global economy

Promoting an inclusive global economy.
We support efforts to make the world’s economy
fairer and more inclusive.
Economic inequality presents a significant threat to the stability of the global
economy and stifles innovation. Bloomberg provides corporate social andgovernance data, news and insights about equality and philanthropic support
to help investors, entrepreneurs and communities even the playing field.

Bloomberg’s other social scores include Bloomberg Gender-Equality Index Scores,
which assess company progress toward gender equality in the workplace; daily
Environmental & Social News Sentiment Scores derived from news coverage;
and ESG Disclosure Scores, which rate companies on their level of ESG disclosure.

Facilitating corporate action

In addition, we offer a variety of products and services for investors and companies
seeking to better understand and respond to emerging social trends. These include
data and commentary on the rise of social bonds — bonds that fund projects withsocial benefits — from Bloomberg Intelligence and BloombergNEF and practicalguidance on establishing programs and policies around human capital, humanrights and supply chain issues from Bloomberg Law, our subscription-based legal
research service.

Bloomberg’s transparent and actionable social and governance data, scoresand insights help investors and companies better evaluate assets and report onsocial performance.
We currently track more than 750 social and governance metrics, including genderequality data for the publicly held companies that report their data directly to
Bloomberg through the Bloomberg Gender-Equality Index Reporting Framework.
Our social and governance data is available on the Bloomberg Terminal and also as
an enterprise data feed via Bloomberg Data License, which allows this information
to be used across a firm by multiple applications and people.
We also provide EE0-1 data on the Bloomberg Terminal. This data set provides U.S.
workforce race and ethnicity demographics for companies on the Russell 3000 Index
that volunteer to publicly disclose this information from their U.S. Equal Employment
Opportunity Commission (EEOC) filings. (While U.S. companies with more than 100
employees are required to disclose details about the racial and ethnic compositionof their workforce to the EEOC, they do not have to publish this information publicly.)
We monitor disclosures across the Russell 3000 and update the data set as additional
reports are published.
We provide five types of proprietary scores that investors can use to quickly andsimply evaluate performance across a range of social and governance issues andassess company activities relative to industry peers. These include Bloomberg
Governance Scores, which score the relative performance of companies acrossindustries on board composition and executive compensation, and industry-specific
Environmental & Social (ES) Scores for companies in eight industries. These scores aredata-driven and fully transparent, allowing users to examine the company-reported
social data underlying each score.

In 2021, Bloomberg Law collaborated with Bloomberg’s Gender-Equality Index
team to develop the Bloomberg Law Diversity, Equity & Inclusion (DEI) Framework,
the legal industry’s first and only standardized and fully transparent methodology
to measure law firms’ performance in these areas. In October, Bloomberg Law
recognized 28 U.S.-based firms on its inaugural listing of law firms that meet or
exceed a rising standard for diversity, equity and inclusion.
Bloomberg Law also began offering complimentary access to its legal researchplatform to legal aid organizations and pro bono attorneys who serve low-income
Americans. It did so through partnerships with the Legal Services Corporation (LSC),
an independent nonprofit that funds 132 grantee organizations across the country,
and Paladin, a platform that helps connect law firms and lawyers with pro bono
opportunities. With access to Bloomberg Law, Paladin users and LSC grantees canleverage high-value content and time-saving technologies to provide legal assistanceto individuals most in need.

Our social and governance data, scores and insights
help investors and companies evaluate assets andreport on social performance.

2021 Impact Report59

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Global economy

Building organizational capacity

Bloomberg Gender-Equality Index
As investors seek out more information on how companies are managing diversity,
the Bloomberg Gender-Equality Index (GEI) increases visibility into this previously
opaque area of ESG reporting.
The GEI is a reference index that brings transparency to gender-related practices
and policies at publicly listed companies. Companies around the world submit
information to Bloomberg through the GEI Reporting Framework, providing
standardized data that investors can use to compare how these companies areinvesting in women in the workplace, the supply chain and the communities inwhich they operate. Companies included in the index have a relatively high levelof disclosure in five gender-related categories, demonstrating their commitment
to advancing gender equality.
In 2021, the number of companies that submitted their data to Bloomberg via
the GEI Reporting Framework increased by 20 percent, and the GEI member list
grew by 10 percent, even as we raised the threshold for inclusion in the index.
Companies domiciled in Colombia, Peru, Pakistan and Uruguay submitted data for
the first time. To position the GEI for further growth, Bloomberg’s Engineering and
Global Data teams created a new online portal in 10 languages that makes it
easier for companies to collaborate internally and report their gender-related data.
The 2022 GEI features 418 companies from 11 industries headquartered in 45
countries and regions, representing a total market capitalization of $16 trillion.

Score sheet
On average, companies on the Bloomberg Gender-Equality Index scored 96 percent outof a maximum score of 100 percent for their level of disclosure and 60 percent for theiroverall performance on data excellence.

71%

Average overall
GEI score96%

Averagedisclosure score

60%

Average data excellence
performance score

Performance score by data excellence pillars

Bloomberg is dedicated to developing the building blocks that small businesses
and nonprofit organizations need to innovate and support the growth of local
communities. As part of this commitment Bloomberg employees provided leadershipdevelopment and mentorship to smaller organizations aiming to strengthen theirdigital presence. Bloomberg also supported intrapreneurship and innovation awards
in the U.K. and U.S. with strategic education partners focused on identifying anddeveloping promising initiatives to address educational inequality. An additional
partnership provided direction and assistance to help leaders across five continents
tackle causes of structural inequality.
Advancing the discussionIn 2021, the newsroom expanded its Bloomberg Equality vertical to deepen its
commitment to reporting on issues of race, diversity and fairness. Bloomberg
Equality content is available on the Bloomberg Terminal and on all Bloomberg
Media platforms, and is integrated across all content pillars such as climate change,technology and health care.
Notable coverage included our data-driven “Race & Recovery” series exploring how
the U.S. economic recovery from the COVID-19 pandemic is playing out in minority
communities across the country; the third season of The Pay Check podcast, which
examined the racial wealth gap in the U.S.; exclusive data that showed London’s recent
property boom enriched White families while Black families were left behind; and a
Bloomberg Businessweek special issue on equality.
Bloomberg Live hosted two Bloomberg Equality Summits in 2021, convening
corporate executives, policymakers, thought leaders and advocates working to createa more just business and economic climate for all. The March event, “From Words to
Action,” gathered leaders at the front lines of industry and policy to showcase steps
they’re taking to repair the damage of the pandemic. The October summit, “Modern
Leaders & Allies,” explored the next phase of oversight and accountability for global
leaders facing challenges like labor shortages, supply-chain bottlenecks and returnto-office dilemmas.

score of
51% Average
Female leadership & talent pipeline
score of62% Average
Equal pay & gender pay parity
Average score of

68% Inclusive culture

Average score of

66% Anti-sexual harassment policies
Average score of

50% Pro-women brand
2021 Impact Report60

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Global economy

Following the data
To better understand how the economic recovery unfolded beneath the national
level, Bloomberg calculated local unemployment rates for racial and ethnic groups
across 15 U.S. metro areas using the monthly Current Population Survey (CPS)of about 60,000 households, which is sponsored jointly by the Bureau of Labor
Statistics and the U.S. Census Bureau. This analysis — combined with regional datasuch as housing prices, job listings and small business loans from the Paycheck
Protection Program — shows that many minority communities lagged behind in thebooming recovery.

Opening doors
Bloomberg employees work with our network of nonprofit partners to ensure moreindividuals from underserved communities have the skills and experience theyneed for employment and entrepreneurship. A key focus for our company is making
financial industry careers more accessible to historically underrepresented groups.
This year, we expanded our finance training initiatives, working with high school andcollege students and leading training sessions on how to use the Terminal to makefinancial decisions.
2021 highlights included:•••

Source: Bloomberg Equality•

View more data from the Race & Recovery series at Bloomberg Equality.

•

GRI: 203-2, 413-1

 loomberg Women’s Buy-Side Network: The Bloomberg Women’s Buy-SideB
Network launched two new chapters — Australia & New Zealand and Brazil. These
new groups, along with chapters in Singapore, India, Hong Kong and Japan, provide
members with support, mentoring and education to help them move into leadership
positions in asset management.
 UNY Futures in Finance: Bloomberg L.P. joined financial firms Centerbridge
C
Partners and Goldman Sachs to launch a comprehensive workforce development
initiative to cultivate and train City University of New York students for careers in thefinancial industry. Designed to help the financial industry connect with an untapped
pool of diverse local talent, the CUNY Futures in Finance initiative will provide CUNY
students with a range of resources, training, internship opportunities and guidancefrom local financial industry experts.
 IDE workshop for girls in Mexico: In March, Bloomberg partnered with MIDE,M
the Interactive Museum of Economics in Mexico City, to host a series of activities
promoting financial education among young women. These included a panel
discussion on financial careers moderated by the Bloomberg News Deputy Bureau
Chief for Mexico and a workshop on the financial marketplace and personal financethat drew more than 250 participants.
 ext-Gen Connect: Bloomberg co-hosted a global virtual exchange that connectedN
20 top investors from Asia and EMEA with female university students in both regions
to explore the world of investing. Over 600 students from leading universities across
48 countries participated; topics covered included the 2021 investment outlook,alternative investing, technology disruptions and impact investing.
I sDB-Bloomberg certification: Bloomberg collaborated with the Islamic
Development Bank (IsDB) to launch a financial education program for university
students in Asia, Africa and the Middle East. The program provides specialized
market infrastructure training to equip students with skills that are in high demandin banking and finance, including training in Islamic finance.
2021 Impact Report61

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Global economy

Addressing racial inequality
In the United States and across the world, individuals have been shut out ofopportunities in the workplace and systematically denied the ability to build andkeep wealth because of their race. Bloomberg is engaged in addressing racialinequity at both the individual and the systemic level.
In 2021, these initiatives included:
The Power of Difference: The Bloomberg Black Professional Community’s signature
event brings together leaders across industries to engage in dialogue on inclusive
leadership, leveraging difference and driving innovation and business impact.
In March, the employee group partnered with Bloomberg Philanthropies to launcha four-part event series that explored the structures that aid in Black wealthaccumulation and extraction.
Partnering for Racial Justice in Business: Bloomberg L.P. joined 47 other companies
in becoming a founding member of the Partnering for Racial Justice in Businessinitiative, a coalition of organizations committed to improving racial and ethnic
justice in the workplace. Founded by the World Economic Forum, the group seeks
to operationalize and coordinate commitments to eradicate racism in the workplaceand set new global standards for racial equity in business. To join the coalition,
Bloomberg committed to placing racial and ethnic equity on our board’s agenda;
make at least one commitment toward racial and ethnic justice; and put a long-term
strategy in place toward becoming an anti-racist organization.
iMentor anti-racism training: Many Bloomberg employees mentor students
in New York City through iMentor’s three-year program designed to empower
young people to graduate high school and achieve their ambitions. In February,
Bloomberg support allowed iMentor to expand its national anti-racism training
for mentors aimed at deepening mentors’ understanding of diversity, equity
and inclusion and the structural inequalities that have impacted U.S. education.
Bloomberg employee mentors were among the first to receive this anti-racism
training as they worked with iMentor’s diverse population of public school students.

GRI: 203-2, 413-1

The Greenwood Initiative
Named after the prosperous Black neighborhood in Tulsa, Oklahoma, that wasdestroyed in the 1921 Tulsa Race Massacre, Bloomberg Philanthropies’ Greenwood
Initiative works to accelerate the pace of Black wealth accumulation and address
decades of systemic underinvestment in Black communities. The Greenwood
Initiative’s first major investment, announced in 2020, was a $100 million gift toAmerica’s four historically Black medical schools to help increase the number
of Black doctors. Bloomberg Philanthropies’ gift to Meharry Medical College in
Nashville, Tennessee, Howard University College of Medicine in Washington,
D.C., Morehouse School of Medicine in Atlanta and Charles R. Drew University of
Medicine and Science in Los Angeles is allowing these schools to ease the debt
burden of approximately 800 medical students.
In 2021, Bloomberg Philanthropies provided an additional $6 million collectively tothese medical schools to expand their mobile unit COVID-19 vaccine operations intheir local areas. The support funded mobile medical unit upgrades, paid staffing
for the units, medical supplies and neighborhood outreach to help each institution
expand vaccine access in Black communities.
Bloomberg Philanthropies also partnered with Johns Hopkins University to launch
the Vivien Thomas Scholars Initiative, a $150 million effort to address the historic
underrepresentation of diverse talent in science, technology, engineering andmath (STEM) fields. The initiative will provide permanent funding to add a sustained
cohort of approximately 100 new slots for diverse PhD students in JHU’s 30+
STEM programs, representing disciplines ranging from neuroscience to physics toengineering. The program will cover up to six years of stipend, health insurance andtravel funding for each student, which will be coupled with significant mentorship,
research and professional development opportunities. In addition, it will provide
funding to Historically Black Colleges and Universities (HBCUs) and Minority
Serving Institutions (MSIs) to strengthen STEM pathways and summer and postbaccalaureate programs.

2021 Impact Report62

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Data & technology

Expanding access to data and technology.
We’re committed to creating a more level playing field
in society by improving access to information.
We share our data expertise with communities to improve civic outcomes, assist
cultural institutions in engaging a wider audience through technology and help
a diverse spectrum of students acquire the technical and soft skills they needto unlock opportunity and drive progress in an increasingly digital world. In 2021,
Bloomberg employees shared their data and technology expertise with more than
200 nonprofit organizations and cities.
Using data to solve social challenges
We believe that effective implementation of data can uncover unique insights andhelp solve real-world challenges. In partnership with Bloomberg Philanthropies andBloomberg Associates, Bloomberg L.P. shared engineering and design expertise on
a series of impactful projects. These included helping the City of Chicago create adashboard on equity and inclusion in the city workforce and supporting the launchof ONE Africa’s COVID-19 tracker, which includes data on how African economies,
societies and individuals have been affected by the pandemic, with key data points
on health, debt, food security and poverty rates.
In 2021, Bloomberg collaborated with J.P. Morgan in London to build upon our Data
For Good Exchange (D4GX) initiative, with experts from both companies leadinga week-long series of “Digital Data Journey” workshops focused on helping nonprofit
partners better leverage data to improve their effectiveness. Bloomberg hosted
a series of Data For Good Exchange events across India, in partnership with Dasra,
which convened more than 100 philanthropists, academics, government officials
and business leaders to discuss ways to work together to strengthen the data ecosystem
for India’s development sector.

Bridging the digital divide
With jobs changing and disappearing amidst the digital revolution, people need
opportunities that enable them to work outside of their local economy. While manygroups and regions worldwide benefit from rapid technological advancement,
the digital inequality gap continues to widen between those who have the means
to prepare themselves for the future of work — and those who do not. Bloomberg
works with a number of organizations to open up opportunities in the technology
industry and bridge the digital divide that begins in early education.
In 2021, Bloomberg employees taught students from underrepresented groups coding
and soft skills to help them succeed in the digital economy. Following programs in
New York City and Frankfurt, employees in São Paulo launched the third annual classof Python coding training for high achieving students from low-income backgrounds.
Employees in New York and Hong Kong also organized hackathons for students
and engineers in London worked with partner First UK to build a robotics simulator
to help young people learn core tech skills.
In addition, Bloomberg provided laptops and internet access to enable the continuationof education in India, Hong Kong, Singapore and Japan, where female andIndigenous students are most likely to fall behind as a result of social exclusion andextended lockdown restrictions.

D4GX and Dasra also launched the D4GX India Empowerment Challenge, a searchfor promising early-stage innovations that serve the interests of India’s mostvulnerable people.

Bloomberg employees share their expertiseto unlock opportunity and drive opportunity
in an increasingly digital world.
GRI: 203-2, 413-1

2021 Impact Report63

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Data & technology

Connecting audiences to culture
Digital technology has the power to make the art and offerings of culturalorganizations more accessible — not just to those visiting in person, but to people
around the world. Since 1999, Bloomberg Philanthropies has helped cultural
institutions stay up to date with relevant new technology to transform the visitor
experience, encouraging interaction and exploration on- and off-site.
The Bloomberg Connects app, built by Bloomberg engineers and UX designers,
is a free digital guide to cultural organizations around the world that makes it easy
to access and engage with the arts and culture from mobile devices, anytime,
anywhere. The app provides guided multimedia tours, expert commentary, video
highlights, pinch-and-zoom capability and exhibition and way-finding maps for art
galleries, sculpture parks and more. Bloomberg Connects’ cultural partners join theapp at no cost and pay nothing for the technology development, maintenance or
ongoing enhancements, which are all handled by Bloomberg.
In 2021, we expanded the reach of the app to over 60 cultural organizations globally,
with more joining monthly. As cultural institutions reopen, the Bloomberg Connects
team is working closely with partners to continue enhancing visitor experiences
via the app, including building out multilingual capabilities.

Experiencing art via the Bloomberg Connects app.
2021 Impact Report64

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Media & the arts

Supporting diverse voices
in media and the arts.
To broaden perspectives, enhance innovation andpromote equality, we help women and people fromdiverse backgrounds share their ideas and insights
with a wider audience.
We’re improving the mix of sources in our news stories to better reflect thedemographics of our communities and working to ensure that a diverse range ofvoices are involved in reporting and shaping business news. We’re also amplifying
diverse voices in the arts through Bloomberg Philanthropies initiatives that support
the work of artists and cultural organizations from underrepresented communities.

We’ve tripled the percentage of women external guests on Bloomberg TV
2022 target: 33%

35%

30%

30%

27%

25%

Diversifying our news sources
Bloomberg is committed to diversity in the newsroom, at every level in our workforce
and in our content. It matters who assigns a story, who reports and writes it, who edits
and shapes it — as well as whose voices are drawn upon to tell it.
In 2018, Bloomberg launched the New Voices initiative to increase the representationof women and minority executives as sources in both online and on-air content. The
program initially began with the establishment of a definitive global list of female
experts in finance and business, a system to track diverse sourcing and the fundingof media training for top women executives. In 2021, we brought New Voices media
training to Johannesburg for the first time, adding to the already-established New
Voices hubs of New York, Toronto, San Francisco, Washington, D.C., London, Mumbai,
Dubai, Singapore, Hong Kong and Sydney. In the U.S., where we also offer media
training to a cohort of Black executives of all gender identities, we added training fora cohort of Latinx executives of all gender identities. In 2022, we will be expanding toTokyo and Zurich.
To further raise the profile of the business and financial executives who participate in
New Voices training, we established a dedicated section of the Bloomberg Equality
website to showcase clips of broadcast interviews in which the executives appear.

16%

15%
10%

10%

5%
0
January 2018

2018

2019

2020

2021

We’ve increased the percentage of women sources in our top news stories
35%
30%
25%

2022 target: 20%

20%

16%
15%

10%

10%
5%

Since the program began, we’ve brought media training to 11 global cities, tripled thepercentage of external female guests on Bloomberg Television and grown our global
database of women sources from 500 to more than 7,000 names.

21%

20%

11%

7%
2%

0
January 2018

2018

2019

2020

2021

2021 Impact Report65

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Media & the arts

Strengthening financial journalism
The Bloomberg Global Business and Financial Journalism Education Initiative runs a
range of programs designed to strengthen reporting on financial markets and global
economies and increase diversity in business journalism. These include academic anduniversity-affiliated courses leading to a completion certificate or counting towards amaster’s or undergraduate degree; the Bloomberg Media Initiative Africa, launchedto advance financial journalism and contribute to economic development in Africa;
a one-week immersive course in business reporting; and community-based programs
that introduce students to careers in journalism. The Global Business and Financial
Journalism Training Initiative expanded to provide training to 2,403 mid-levelprofessionals and students in 24 countries in 2021.
We offered the Journalism Diversity Program again — in both New York City and
London — after a year’s hiatus during the COVID-19 pandemic. Bloomberg journalists
and executives joined journalism school faculties to teach the fundamental principles
of reporting, editing and applied business and economic knowledge to the largest
cohort to date. Additionally, employees from 14 Bloomberg News bureaus in Europeorganized online information sessions for more than 1,775 students about managing
their online presence and countering the spread of misinformation.
Spreading the word
Bloomberg Media and EBONY, the 75-year-old media brand focused on the Black
American perspective, launched a partnership to explore key issues facing the Black
community and shine a spotlight on Black entrepreneurs and innovators.

Reimagining & revitalizing public spacesWe believe that public art can bring communities together and amplify
underrepresented voices. In 2021, Bloomberg partnered with the Mayor of London
to help revitalize public spaces in the wake of the pandemic and helped share theboundary-breaking work of British-Ghanaian photographer James Barnor on the
famous lights at London’s Piccadilly Circus. Bloomberg also helped share diverse
female artistic talent with an audience of over one million through support of the
Art Night contemporary art festival in the U.K.
Bloomberg Philanthropies’ Asphalt Art Initiative grant program funds visual art
interventions by a diverse range of artists on roadways, pedestrian spaces andpublic infrastructure in cities across the world. The program is designed to improvepedestrian safety, revitalize and activate underutilized public space and promotecollaboration and civic engagement in local communities. In 2021, the program
awarded grants of up to $25,000 for Asphalt Art projects in 26 small andmid-sized cities that will be installed in 2022 and 2023. These new grants buildon the success of Asphalt Art Initiative projects in 16 U.S. cities that were awarded
support in 2020 and completed in 2021.

EBONY collaborated with Bloomberg Quicktake to choose the visionary Blackartists, designers and creators featured in a special four-episode installment of theBloomberg streaming video series MADE, and Bloomberg Television produced a
one-hour special on the return of the annual EBONY Power 100, which honors themen and women who make remarkable contributions in the Black community during
the year. Bloomberg Equality’s data-driven coverage of economic and social issues
is now featured on EBONY’s website, and the two brands cross-promote news andvideos on social media and in newsletters.

Bloomberg volunteers painting the public space on Queen Victoria Street outside
Bloomberg’s London office with artist Yinka Ilori’s distinctive, playful designs that fuseBritish and Nigerian heritage.
GRI: 203-2, 413-1

2021 Impact Report66

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Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Communities

Addressing the world’s most pressing needs.
Bloomberg gives back to the cities in which we live and work,
using our employees’ time and talents and our company’s resources
to address unmet needs in our communities and create lasting impact.
Our global employee giving and volunteer program, the Best of Bloomberg,
harnesses the collective effort and generosity of our employees to strengthen ourcommunities — and support the causes they’re most passionate about.
In 2021, through our Corporate Philanthropy programs, Bloomberg provided
immediate assistance to address acute needs. Employees offered financial assistance,
shared pro bono expertise and created care packages for vulnerable neighbors
and those in need of disaster relief. Bloomberg matched hundreds of employee
contributions in response to humanitarian crises and natural disasters.

1,704

465

cities impacted

12,067

employee volunteers

nonprofit partners
supported

25,148

mentoring interactions

5,592

books, coats & toys
donated93,991necessity kits assembled

1.4 million
meals provided

Bloomberg employees in Hong Kong helped pack rice for distribution to people in need.

GRI: 203-2, 413-1

2021 Impact Report67

Contents

Approach

Reducing our emissions

Supporting climate action

Investing in our people

Driving social change

Communities

Reorienting refugees
As extreme climate events and political violence displaced millions of people in 2021,
Bloomberg made the holistic needs of refugees, from immediate relief to long-term
job readiness, a focus throughout our Corporate Philanthropy programming.
We worked closely with humanitarian organizations on the ground to help us
understand the direct needs of affected areas and tapped into a network of highly
engaged employees across the world to deliver urgent relief and support withreintegration efforts in host countries.
For example, as the upheaval in Afghanistan displaced many people, the company
took action with humanitarian partners like the International Rescue Committee.
Bloomberg volunteers prepared meals, ran clothing drives and packed kits with food,hygiene items and phone cards for the refugees.
In all, more than 2,800 employees in 51 cities assembled kits with necessities forpeople experiencing homelessness or displacement and food for vulnerable families.
The company also matched employee contributions to nonprofit partners that provide
critical support to people fleeing natural disasters and conflict and provided grants,
in-kind donations and more to organizations supporting refugee communities.
Integrating into new communities
Refugees’ needs don’t end once they reach safe borders. Once they arrive at their hostcountries, the challenges of finding work and integrating into their new communities
await, which is why Bloomberg’s work extends beyond providing the essentials.
Bloomberg supported skills training and job readiness workshops for refugees in the
U.S., U.K. and Middle East. This included resume writing courses with the International
Rescue Committee in New York and the HeadStart Young Refugee Program in London,
where young refugees were supported with applications and job placements in thehospitality industry.

As part of Bloomberg’s A Fair Share initiative, which advocates for gender equality
in the Middle East’s financial sector, Bloomberg collaborated with nonprofit partner
Re:Coded to host a webinar with employees and clients to provide insights andsupport for tomorrow’s female finance and technology leaders. The session brought
together female participants, including many from refugee backgrounds, with
Bloomberg employees and financial professionals who shared insights on how tocarve out a successful career in the digital economy.
In the Asia-Pacific region, through work with Asian University for Women, Bloomberg
employees mentored students who had been displaced, while the company provided
targeted scholarships and financial support to the mentoring program.
Establishing permanent residence
Bloomberg employees also helped refugees establish a secure foundation for their
futures through the legal system. In the Americas, volunteers from Legal & Complianceprovided pro bono legal assistance to individuals seeking asylum; immigrants applying
for naturalization; and low-income, immigrant domestic violence survivors seeking
legal status through Violence Against Women Act (VAWA) petitions. In Asia, the teamresearched banking access for refugees without visa status and provided training
for advocates and applicants seeking asylum.

As extreme climate events and political violence
displaced millions of people in 2021, Bloomberg madethe holistic needs of refugees, from immediate relief
to long-term job readiness, a focus throughout our
Corporate Philanthropy programming.

A focus on equity
Refugees who are women face particularly steep hurdles to accessing meaningfulemployment, and they’re less likely to have access to the social and professional
networks to help them thrive in their new communities as a result.
Bloomberg committed to mentoring 50 refugee women in the U.K. and Germany
over three years as part of the Tent Partnership’s Refugee Women Mentorship
Initiative, a new program designed to help refugee women in Europe enter theworkforce. Volunteers from Bloomberg and 23 other companies will work withrefugee women on practical skills like writing CVs, interviewing and networking,collectively supporting 1,200 women.
GRI: 203-2, 413-1

2021 Impact Report68bloomberg.com/impact© 2022 Bloomberg L.P. All rights reserved.