Bloomberg Commits to American Business Act on Climate Pledge

Originally posted on bloomberg.com/bcause

Today, Bloomberg attended the White House Summit on Climate and the Road through Paris. The Summit gathered leaders from the government, private sector, academic, technical and scientific communities to focus on cross-sector efforts to tackle the climate change challenge here in the United States as well as on a global scale. Specifically, the event focused on how to further efforts around carbon mitigation, sustainability, and resiliency, as well as how technologies are emerging to support and scale these efforts. Additionally, participants discussed how to further engage and organize in support of the upcoming COP21 Paris climate negotiations.

At the event, Bloomberg announced that it has joined the American Business Act on Climate Pledge, joining more than 60 companies from across the American economy that are standing with the Obama Administration to demonstrate an ongoing commitment to climate action and to voice support for a strong outcome to the COP21 Paris climate negotiations.

THE AMERICAN BUSINESS ACT ON CLIMATE PLEDGE:

We applaud the growing number of countries that have already set ambitious targets for climate action. In this context, we support the conclusion of a climate change agreement in Paris that takes a strong step forward toward a low-carbon, sustainable future.

We recognize that delaying action on climate change will be costly in economic and human terms, while accelerating the transition to a low-carbon economy will produce multiple benefits with regard to sustainable economic growth, public health, resilience to natural disasters, and the health of the global environment.

We put forth our pledges as follows:
Bloomberg recognizes that carbon emissions have global environmental, social and economic implications.  And we are committed to addressing them through a combination of actions:  reducing consumption, buying renewable products and services, helping to set standards, encouraging disclosure and promoting clean technologies. 

As the premier information provider for banks, corporations, governments and others, Bloomberg is leveraging its data, news and analytics capabilities to help our customers identify, manage and seize sustainability and climate-related risks and opportunities.

* Reduce absolute emissions 20% by 2020 vs our 2007 baseline

* Improve Energy Efficiency 50% by 2020 vs our 2007 baseline

* Source 35% direct clean energy sources by 2020

* Generate a 20% or greater IRR on the investments described above

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