Driving Sustainable Finance
Climate change has profound economic consequences, and tackling it requires collaboration with partners and leaders in the private sector. Mike Bloomberg has been a global leader in involving the financial sector in the fight against climate change, and Bloomberg Philanthropies has launched and supported efforts to increase transparency around the risks caused by climate change and boost sustainable investments in climate solutions.
The Sustainability Accounting Standards Board (SASB) provides comprehensive standards to help companies assess and disclose sustainability-related information. SASB standards supplement traditional financial accounting standards that public companies follow in providing information to investors. Mike Bloomberg formerly served as chair.
The Climate Finance Leadership Initiative (CFLI) was created in January 2019 at the request of the UN Secretary-General to increase private sector investment in clean energy and climate solutions in emerging markets. In line with the Paris Agreement, the CFLI works to boost private sector investment in strategies, projects, and industries that lower carbon emissions, reducing the urgent health and economic risks posed by climate change. As chair, Mike Bloomberg convened seven founding members — the CEOs of Allianz Global Investors, AXA, Enel, Goldman Sachs, HSBC, Japan’s Government Pension Investment Fund, and Macquarie — to lead the work
Top photo: Contractors install SunRun Inc. solar panels on the roof of a new home at the Westline Homes Willowood Cottages community in Sacramento, California. Photo credit: David Paul Morris