Bloomberg has announced a significant expansion in its service offerings with the launch of a new data product specifically designed for ESG reporting.
This innovative offering, which will be accessible via the Bloomberg Terminal and Data License for enterprise-wide use, aims to facilitate a more efficient sustainability reporting process for financial firms.
The development of this product is primarily driven by the upcoming regulatory requirements set by CSRD, which mandates an increased transparency in the disclosure of ESG data. Starting in 2025, the directive will significantly expand the scope of companies required to report sustainability data, involving over 1,000 distinct metrics that span financial and impact materiality.
Bloomberg’s prowess in financial data integration is well-documented, and its new CSRD offering is poised to leverage this expertise. The service will incorporate European Sustainability Reporting Standards (ESRS) mapped against Bloomberg’s existing data frameworks. It includes both historical data from companies that have previously reported voluntarily or under older regulations, and new fields tailored to meet the mandatory quantitative disclosures required by the CSRD.
Furthermore, Bloomberg’s approach to this data offering is both comprehensive and anticipatory. It not only covers entities that must comply with the 2025 deadline but also extends to include firms that will start reporting in 2026. This forward-looking strategy ensures that all potential and existing clients have ample time and resources to align with CSRD stipulations.
Bloomberg has long been a leader in providing high-quality financial data, and its move into ESG reporting data underlines its commitment to supporting sustainable investment practices. The integration of ESG data with traditional financial metrics is designed to enhance investment decision-making and streamline the reporting processes for clients.
In terms of broader impacts, Patricia Torres, global head of sustainable finance solutions at Bloomberg, emphasized the strategic importance of the new offering: “Better data drives better investment decisions, which is why Bloomberg is taking steps to ensure its clients will benefit from the tremendous increase in the quantity, quality and reliability of ESG data reported under CSRD. By providing high quality ESG data alongside financial data to our clients, we help them seamlessly understand the sustainability profile of their investments and streamline their reporting.”
Nadia Humphreys, global head of sustainable finance data solutions at Bloomberg, also highlighted the company’s capacity to deliver these essential services efficiently: “Bloomberg has the scale and experience necessary to deliver the broad range of new ESG disclosures under CSRD to our clients in a timely and efficient way. This marks the first milestone of our CSRD solution, which will continue to evolve to capture the depth and breadth of available company-reported data, helping clients to take action and make well-informed decisions.”
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