Bloomberg 2023 Impact Report: Driving Social Change
Originally published in Bloomberg's 2023 Impact Report
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 to promote 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.
Promoting an inclusive global economy
We support efforts to make the world’s economy fairer and more inclusive.
Economic inequality presents a threat to the stability of the global economy and stifles innovation. Bloomberg provides corporate social and governance data, news and insights to help investors, corporations and regulators make well-informed decisions. In addition, we engage in a range of philanthropic initiatives to help make financial markets more transparent and accessible.
- Facilitating corporate action - Bloomberg’s transparent and actionable social and governance data, scores and insights help investors and companies better evaluate assets and report on social performance.
We currently provide more than 2,500 social and governance data points, including third-party data, offering insight on a wide range of issues such as workforce diversity, board composition, executive compensation, labor and employment practices, health and safety and much more. Our social and governance data is available on the Bloomberg Terminal, in our enterprise product solutions, including our Portfolio and Risk Management solutions, and 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 provide proprietary scores that investors can use to quickly and simply evaluate companies’ management of financially material industry-specific social issues and opportunities, as well as governance policies and practices, with adjustments for country-specific rules and regulations. Available for more than 14,500 global companies, Bloomberg’s Governance and Social scores are data-driven and fully transparent, allowing users to examine the company-reported social and governance data underlying each score.
- Advancing the discussion - Our Bloomberg Equality vertical is committed to reporting on issues of race, diversity and fairness. Its 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 healthcare.
In 2023, notable coverage included analysis of the progress of S&P 100 companies diversifying their workforces; reporting that showed how California is calculating the cost of reparations for the U.S. legacy of slavery and discrimination; how London lost its place at the heart of Black Britain; a series exploring India’s ruling on same-sex marriage; how Big Tech layoffs are hitting diversity and inclusion jobs; reporting on how race in college admissions became a U.S. flashpoint; and a Bloomberg Businessweek special issue dedicated to equality.
- Expanding horizons - Bloomberg employees build on our company’s legacy of helping to make financial markets more transparent and accessible by working with nonprofit partners to train and mentor individuals from underserved communities. A key focus for our company is demystifying financial services and motivating more young people to consider careers in financial services. In 2023, some of our programs included:
- The Bloomberg HBCU Trading Challenge
- The Greater Bay Area Fintech Talent Initiative
- MIDE Global Money Week
- Opening doors - In keeping with our work to bring transparency, efficiency and fairness to financial markets, we leverage our expertise to create opportunities for women and other underrepresented groups to pursue careers in finance and high-growth industries. Highlights from the year include:
- Women in Finance initiative
- Bloomberg Women’s Buy-Side Network (BWBN)
- Girls Who Invest (GWI)
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 expertise to help students and entrepreneurs acquire the technical and soft skills and support they need to unlock opportunity and drive progress in an increasingly digital world.
Supporting diverse voices in media and the arts
To broaden perspectives, enhance innovation and promote equality, we help women and people from diverse backgrounds share their ideas and insights with a wider audience.
We’re improving the mix of sources in our news stories to better reflect the demographics of our communities and working to ensure that a diverse range of voices are involved in reporting and shaping business news. We’re also helping cultural organizations expand audiences and amplify diverse voices through initiatives that support the work of artists from underrepresented 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 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 our communities — and support the causes about which they’re most passionate. In 2023, over 19,000 employees from 101 cities volunteered their time and talents, helping to provide food and assemble necessity kits for vulnerable neighbors, serving as educational mentors, sharing pro bono legal expertise with individuals and small businesses, engaging in environmental stewardship and much more. In all, employees provided 183,537 hours of collective service in 2023, a 39 percent increase over the previous year. Key areas of action included disaster relief, protecting the planet, and legal pro bono work.
Read Bloomberg's 2023 sustainability report to learn more about its environmental and social impact.
