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Bloomberg LP Retirement Plans

PRI reporting framework 2020

You are in Strategy and Governance » Objectives and strategies

Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Bloomberg Global Retirement Plans has an ongoing sustainable retirement initiative, which involves quarterly monitoring of ESG factors and the incorporation of ESG factors into manager searches. Progress against this plan is reviewed regularly with support from the organization's consultant, Mercer.

SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Actual training and education conducted

Progress achieved

The Investment Committee for Bloomberg's Global Retirement Plans received several presentations throughout 2019, led by staff and the plans' investment consultant that included:

- Training on how to understand and interpret ESG data.  This specifically included reviewing Impact Reports from Investment Managers, and discussing the key performance indicators that they were analyzing.

- Information on the April 10th, 2019 Executive Order that stipulated the Secretary of Labor shall review fiduciary responsibilities for proxy voting activities.  Out of extensive caution, this ultimately led to the decision to postpone the distribution of the Investment Manager Stewardship Letter.

- Details of how ESG considerations were informing current and prospective line-up strategies.

Key performance indicator

          Actual training conducted

Progress achieved

During the reporting year, Bloomberg Global Retirement Plans' investment consultant completed stewardship reviews of its equity and target-date fund investment managers. The reviews captured historical proxy vote analysis on executive compensation, climate change, and diversity and inclusion.

During 2019, in collaboration with its investment consultant, Bloomberg conducted more detailed stewardship monitoring activities, which entailed gathering data from investment managers related to their direct engagement with companies.  This activity was intended to assess transparency and disclosure standards in addition to the capabilities of managers related to direct engagements.

Findings showed that some managers in Bloomberg’s plans were forthcoming regarding their engagements and open to sharing with an investor.  Others, however, were either reluctant or were unsure regarding internal guidelines around sharing this request.  One manager, in particular, went through extensive discussions with upper management to determine their protocol regarding direct engagement disclosure, which Mercer indicated was an indication of a successful effort on Bloomberg’s part to promote transparency in stewardship activities.

Financial performance of investments

ESG characteristics of investments

Other description (1)

          Climate Analysis

Key performance indicator


Progress achieved

Ongoing climate risk assessments, including scenario analysis and carbon footprinting to support TCFD-compliant reporting, is embedded in the annual sustainable retirement relationship with Mercer.

Other activities

06.2. Additional information.