Bloomberg launches ESG compliance tool (2024)

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May 7, 2024

Bloomberg Professional Services launched a new tool last week that it argues will help investors better comply with ESG/sustainability regulatory requirements:

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According to Bloomberg, the new tool aims to help investors make investment decisions and meet regulatory compliance, amidst a diversification of sustainable investment strategies, and as regulators globally require investors to assess if the companies they invest in are meeting sustainability thresholds. … Using the new tool, investors are able to select from a wide range of criteria and input precise thresholds from categories including sustainability targets, exclusion or 'no harm' criteria, and good governance requirements, with the solution calculating a percentage figure that reveals how much of the portfolio, fund or index is aligned with the criteria, and providing a detailed list view of all holdings to detect outliers. The tool also enables investors to check whether funds align with regulatory obligations, including the EU’s MiFID II suitability rules and Sustainable Finance Disclosure Regulation (SFDR), the UAE’s new sustainable finance framework, the UK FCA’s forthcoming sustainability disclosure requirements, and future SEC guidance on ESG disclosures and fund labelling. According to Bloomberg, the tool could be used to help assess whether a fund meets classification under the SFDR framework, and the percentage of sustainable investment reported by the fund itself.

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