Bloomberg Launches New Tool to Assess Company Impact on SDGs
Business and financial markets information service provider Bloomberg announced today the launch of a new data mapping and materiality assessment tool, aimed at enabling investors to assess the potential impact of a company’s business on any of the UN Sustainable Development Goals (SDGs), and to support impact integration in portfolios.
The UN SDGs refer to the 17 categories of goals adopted as part of the 2030 Agenda for Sustainable Development, with the aim to protect the planet and improve the quality of life globally. SDG targets include ending poverty and hunger, improving education, and protecting the environment.
The new data mapping and materiality assessment integrates the UN Environment Programme Finance Initiative (UNEP FI) Sector Impact Map – which charts economic sectors and activities to different impact areas – into Bloomberg’s ESG data offerings, providing mapping of more than 500 sectoral activities to 38 impact topics and the SDGs, applied across 50,000 public companies, and distinguishing between positive and negative impact a company may have on the environment, people and economic development.
Bloomberg said that it is the first data provider to integrate the UNEP FI Sector Impact framework into its data offerings.
Careen Abb, SDGs and Impact Lead at UNEP FI, said:
“We have developed a range of impact management tools and resources across the three pillars of sustainable development and across economic sectors and activities, mapping related negative and positive impacts. We are delighted the available resources are being used to help to mainstream impact management, and to accelerate the transition to an economy that helps deliver the SDGs.”
According to Bloomberg, the new solution comes amidst increasing investor demand for objective SDG-related data, with the company noting that while the market for impact investing globally passed the $1 trillion mark in 2021, the UN estimates that the funding gap to achieve the SDGs by 2030 still stands at $2.5 – $3 trillion. Bloomberg stated that the new tool “will provide more clarity for investors seeking to direct capital towards sustainable assets and assess the alignment of private sector activity with the SDGs.”
Patricia Torres, Global Head of Sustainable Finance Solutions at Bloomberg, said:
“Bloomberg’s ESG data, research and analytics help clients mitigate risk and comply with new and emerging regulatory requirements, and pursue investments aligned with their sustainability commitments. By mapping the UN Sector Impact Map to our comprehensive and high quality ESG data, our customers can bridge the gap between ESG integration and Impact investing, acting with more clarity and transparency.”