Commercial, GHG Emissions, Sourcing Renewables - April 28, 2021
Bloomberg’s Emissions Targets Validated by SBTi
In its Annual Impact Report, Bloomberg LPannounced both progress towards its emissions goals and those goals’ validation by the SBTi.
“At Bloomberg, we are dedicated to playing our part and to achieving net zero carbon emissions across our operations by 2025,” said Beth Mazzeo, Chief Administrative Officer at Bloomberg, in a statement. “The validation of our targets by the Science Based Targets initiative underscores our commitment to driving climate action forward.”
Bloomberg’s science-based targets (using a baseline of 2018) include:
- 80% decrease in Scope 1 and 2 emissions by 2030
- 20% reduction in Scope 3 emissions by 2030
- 100% use of renewable energy by 2025.
The Annual Impact Report reveals Bloomberg’s current progress towards these goals:
- 50% electricity from renewable energy
- 7% reduction in its buildings’ energy intensity
- 26% decrease in Scope 1 and 2 emissions
- 69% decrease in Scope 3 emissions
- 75% of employees now work in environmentally certified spaces
Bloomberg is currently developing several new solar farms and increasing its number of LEED-certified buildings, among other climate-based initiatives.
“Despite the enormous challenges of the COVID-19 pandemic, the world is well-positioned to take great steps forward in the fight against climate change,” said Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies. “The year ahead can set the stage for a decade of transformational change – but only if we act boldly and urgently. Bloomberg is determined to help lead the way, and this report outlines the progress we’re making.”