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EnvironmentDriving Sustainable Finance

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.

Sustainability Accounting Standards Board

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.

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The GE-Alstom Block Island Wind Farm off Block Island, Rhode Island. Photo credit: Eric Thayer and Bloomberg
The GE-Alstom Block Island Wind Farm off Block Island, Rhode Island. Photo credit: Eric Thayer

Climate Finance Leadership Initiative

The Climate Finance Leadership Initiative (CFLI) was created in 2019 at the request of the UN Secretary-General to tackle the challenge of unlocking climate finance at scale in emerging markets. As chair of CFLI, Mike Bloomberg convenes leading private-sector institutions across the financial value chain to work alongside corporates, policymakers, and multilateral institutions, to identify barriers to investment and deliver catalytic financing and policy solutions that accelerate the deployment of private capital for critical low-carbon, climate-resilient projects.

Since 2021, the CFLI has launched country pilots in India and Colombia designed to mobilize climate solutions tailored to these markets. Together with partners – including the Governments of India and Colombia, and multilateral development institutions – the CFLI originates and structures catalytic climate solutions across critical sectors including scaling electric vehicles and charging infrastructure, decarbonizing hard-to-abate industries, deploying renewable alternatives, and investing in circular economy measures.

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Photo credit: Shutterstock
The need for climate action has never been more urgent – and finance can play a powerful role in the transition to a sustainable and inclusive global economy. Photo credit: Shutterstock

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