Energy Efficiency, GHG Emissions  -  August 28, 2023

Bloomberg Survey Shows More Demand for ESG Data

Companies continue to seek more ESG data and have prioritized spending for the information, according to a new Bloomberg and Adox Research survey of over 100 portfolio managers, climate risk executives and data management executives.

The survey shows companies are also seeking strategies to ESG data acquisition and management.

 The results of the survey show that over nine in 10 executives plan to increase spending to obtain ESG data, but believe that managing data from several vendors dilutes their value.

Almost all executives, or 92%, plan to raise their ESG spending by at least 10%, while 18% are planning to increase their spending by 50% or more. 

Companies are prioritizing their spending in the top four areas of ESG benchmarks and indices (29%); company-reported data (23%); ESG scores (20%); and sustainable debt (19%).

“Once categorized as an alternative data source, ESG data has quickly become integral to the value financial firms deliver to their clients. Executives are making significant strategic investments in ESG data acquisition and management to differentiate themselves and meet client and regulatory demand,” said Leila Sadiq, Global Head of Enterprise Data Content at Bloomberg, in a statement. “To help our customers derive meaningful insights from their data faster, we will continue to invest in and deliver high-quality, comprehensive ESG data and analytics that efficiently integrate with existing foundational data giving customers a holistic view of their operations.”

According to the survey, one challenge that companies face is how to manage the data they receive, with over 70% of firms report using an ad hoc or decentralized approach to acquiring and managing their ESG data. Only 29% of the respondents take a holistic, firmwide approach for evaluating, implementing and rationalizing their ESG data.

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