Earlier this month, media company Bloomberg announced that they have achieved a 200% return on investments. The financial software, media and data company has an estimated revenue of $6.9 billion and makes up one third of the global financial data market (Source: NYT). The company was founded in 1981 by Michael Bloomberg, the current mayor of New York City.
Bloomberg first launched their public ESG (environmental, social and governance) data service in 2009. The program evolved from what was primarily an employee engagement platform to a unique source of innovation and opportunity. The company’s first publicly released sustainability report states that for every $1 spent on sustainability, it saves $2 in operating costs. Overall this has resulted in a net savings of $25 million since 2008.
In their report, Bloomberg found that most of the targets it hit resulted from management decisions. For example, all new data equipment that they shipped to clients complied with Energy Star efficiency standards. That being said, individual employees still play a crucial role in any company’s sustainability strategy and can add to the savings resulting from mechanical, equipment and purchasing changes.
Some highlights from the report:
- Nearly half of Bloomberg’s 13,000+ employees will be in a LEED-certified office space by 2012
- Emissions have been reduced by 20% over the 2007 baseline (measured as core emissions normalized by revenue)
- Bloomberg diverted 59% of its waste from landfills through recycling and composting programs
- All new PCs and flat panels shipped to customers are Energy Star certified
- Bloomberg has initiated over 300 sustainability projects in 24 countries over the past three years
- Over 5,000 users in 29 countries have accessed 50 million sustainability data sets through the Bloomberg Professional service
- Bloomberg.com carried 1,976 stories on clean energy and environmental issues in 2010
“It is not only important for companies to develop sustainability strategies, but also to report on their results,” said Peter Grauer, Chairman of Bloomberg. “Disclosure, transparency and access to information are critical drivers of shared knowledge surrounding sustainability. As members of the global business community, it is our responsibility to ensure this information is made available – and to elevate the conversation.”
Bloomberg’s full report is available online. For more information, visit the following articles:
- “Bloomberg’s Sustainability Edge”– triplepundit.com
- “Bloomberg Achieves 200% Return on Sustainability Investments” – sustainablebusiness.com
Image source: Bloomberg