{"id":3534,"date":"2017-10-12T08:37:44","date_gmt":"2017-10-12T12:37:44","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-becomes-first-u-s-domiciled-corporate-retirement-plan-sponsor-sign-pri\/"},"modified":"2019-08-27T09:17:07","modified_gmt":"2019-08-27T13:17:07","slug":"bloomberg-becomes-first-u-s-domiciled-corporate-retirement-plan-sponsor-sign-pri","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-becomes-first-u-s-domiciled-corporate-retirement-plan-sponsor-sign-pri\/","title":{"rendered":"Bloomberg Becomes First U.S.-Domiciled Corporate Retirement Plan Sponsor to Sign the PRI"},"content":{"rendered":"
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Bloomberg today announced at the Bloomberg Sustainable Business Summit that it has become the first U.S.-domiciled corporate retirement plan sponsor (ERISA plan sponsor)[1]<\/a> to join the Principles for Responsible Investment (PRI). By joining, Bloomberg will incorporate the six, voluntary Principles for Responsible Investment into its investment practices. The principles align closely with Bloomberg\u2019s commitment as a financial data provider to integrate sustainable business and finance considerations into its operations, products and services.<\/p>\n

Bloomberg thoroughly reviewed opportunities to integrate environmental, social and governance (ESG) considerations into the company\u2019s global retirement plans. This included adding an ESG-themed equity fund to its U.S. 401(k) plan options and updating the plan\u2019s Investment Policy Statement to integrate ESG considerations into plan management and monitoring decisions.<\/p>\n

As a PRI signatory Bloomberg emphasizes its role as fiduciary \u2013 putting the interests of its retirement plan participants first. A primary driver for Bloomberg\u2019s decision to join the PRI was to enable its employees to pro-actively integrate ESG-themed funds into their own retirement investment strategies.<\/p>\n

\u201cBloomberg is committed to providing data and insights on ESG issues for its clients. This content is available on the Bloomberg Terminal. Research shows that firms who manage these issues well, often provide better long-term returns. Our employees are long-term investors, and giving them the choice to take ESG criteria into consideration in their retirement planning strategy was a logical next step,\u201d said Dom Maida, Global Head of Global Data at Bloomberg L.P. and Chairman of Bloomberg\u2019s Investment Committee.<\/p>\n

\u201cThis is really exciting \u2013 not many companies offer ESG-themed funds, as of yet, to their employees through their corporate retirement plans. By signing we are saying that we think the investment world has matured to the point where organizations like ours can think about integrating ESG issues into their investment policy considerations. The PRI is a great platform for sharing best practices with other companies,\u201d added Cathy Bolz, Head of Global Benefits at Bloomberg L.P.<\/p>\n

\u201cThis is a significant move by Bloomberg, which will send an important signal to other retirement funds that ESG should be a part of every investment vehicle,\u201d said PRI managing director, Fiona Reynolds.\u00a0 \u201cWe want workers to have a dignified retirement and part of achieving this is to ensure that the funds in which they are invested, and which they rely upon in later years, are taking advantage of using ESG factors to better manage risk and identify new opportunities.\u201d<\/p>\n

Bloomberg is already a PRI signatory in its capacity as a service provider since October 09, 2009. There are currently a total of 1,823 global signatories. Sixty-eight other PRI asset owner signatories are also categorized as corporate pension or retirement providers. These are either based in Europe, Australia, Brazil, Canada, Japan, Mexico or South Africa. As a signatory, Bloomberg will submit a yearly transparency report to PRI outlining its approach to integrating ESG factors.<\/p>\n

[1]<\/a> \u201cThe Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.\u201d https:\/\/www.dol.gov\/general\/topic\/retirement\/erisa<\/a><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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About Bloomberg:
\n<\/strong>Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company\u2019s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Terminal<\/a>. Bloomberg\u2019s enterprise solutions build on the company\u2019s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit www.bloomberg.com<\/a> or request a demo<\/a>.<\/p>\n

Contact:
\n<\/strong>Veronika Henze, +1.646.324.1596,\u00a0vhenze@bloomberg.net<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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