Month: March 2024

Originally published on bloomberg.com

As the volume of ESG data continues to rise, firms are grappling with the best way to manage this information, according to a new Bloomberg survey of approximately 200 financial market participants based in Europe. The survey, taken by respondents from London, Stockholm, Geneva, Amsterdam, Frankfurt, Paris, and Milan throughout 2023, posed questions about ESG data prioritization, challenges, and data management practices.

Respondents reported that fulfilling regulatory requirements was the highest priority (35%) for accessing ESG data, followed by meeting climate risk and net zero objectives (18%). Potentially inhibiting these priorities are coverage and quality issues with company-reported ESG data, which unsurprisingly was cited by 63% of respondents as their biggest concern. With the entry into force of the Corporate Sustainability Reporting Directive (CSRD) in the EU, the quantity and quality of company-reported ESG data is expected to increase over the coming years. However, with this increased availability, the need for seamless integration and management of this data will become more pressing, or risk slowing investment decisions.

According to the survey, the leading ESG data management challenge was handling constantly evolving and new data content (41%). Linking ESG data content to existing entity and instrument data was the next biggest challenge (25%), followed by meeting reporting requirements (18%), and managing multiple ESG vendor feeds (16%). While ESG data coverage gaps are problematic, onboarding new ESG data can be a time and resource intensive process that firms may not have the bandwidth to do more than once or twice a year.

In the face of these challenges, firms are still deciding on how to best manage growing volumes of ESG data. Approximately a third (38%) managed their ESG data centrally with a proprietary solution, another third (32%) said it’s managed individually by each business unit, 10% outsourced to a third-party vendor, and 20% were still considering their data management strategy.

“While quality and comparability remain a global challenge, data management is coming into sharp focus for firms in Europe. If firms cannot organize their ESG data, they cannot effectively make decisions using that information,” said Nadia Humphreys, Head of Sustainable Finance Data Solutions at Bloomberg. “To help firms derive more insights from their data faster, Bloomberg’s sustainability data is modelled and linked to Bloomberg’s industry leading corporate structure, security master, and other foundational data for ease of use. Moreover, Bloomberg provides a fully managed service with Data License Plus (DL+) ESG Manager so customers can focus on making investment decisions rather than data wrangling.”

Bloomberg’s ESG data, research, and analytics span regulatory compliance, carbon emissions, sustainable debt, scores, indices, climate risk, and more. Clients can readily access this data on the Bloomberg Terminal via {ESGD <GO>} or across their enterprise via Data License at data.bloomberg.com for use in proprietary or third-party applications. Through Data License Plus (DL+) ESG Manager, Bloomberg connects customers’ ESG data workflows to the full power of Bloomberg’s datasets as well as data from vendor partners, so clients can unlock maximum value with ease. To learn more, visit our website here.

To view the full results of the survey, please click here.

About Bloomberg

Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

Media Contact

Jennifer Molgano | jmolgano2@bloomberg.net

Originally published on bloomberg.com

As the volume of ESG data continues to rise, firms are grappling with the best way to manage this information, according to a new Bloomberg survey of approximately 200 financial market participants based in Europe. The survey, taken by respondents from London, Stockholm, Geneva, Amsterdam, Frankfurt, Paris, and Milan throughout 2023, posed questions about ESG data prioritization, challenges, and data management practices.

Respondents reported that fulfilling regulatory requirements was the highest priority (35%) for accessing ESG data, followed by meeting climate risk and net zero objectives (18%). Potentially inhibiting these priorities are coverage and quality issues with company-reported ESG data, which unsurprisingly was cited by 63% of respondents as their biggest concern. With the entry into force of the Corporate Sustainability Reporting Directive (CSRD) in the EU, the quantity and quality of company-reported ESG data is expected to increase over the coming years. However, with this increased availability, the need for seamless integration and management of this data will become more pressing, or risk slowing investment decisions.

According to the survey, the leading ESG data management challenge was handling constantly evolving and new data content (41%). Linking ESG data content to existing entity and instrument data was the next biggest challenge (25%), followed by meeting reporting requirements (18%), and managing multiple ESG vendor feeds (16%). While ESG data coverage gaps are problematic, onboarding new ESG data can be a time and resource intensive process that firms may not have the bandwidth to do more than once or twice a year.

In the face of these challenges, firms are still deciding on how to best manage growing volumes of ESG data. Approximately a third (38%) managed their ESG data centrally with a proprietary solution, another third (32%) said it’s managed individually by each business unit, 10% outsourced to a third-party vendor, and 20% were still considering their data management strategy.

“While quality and comparability remain a global challenge, data management is coming into sharp focus for firms in Europe. If firms cannot organize their ESG data, they cannot effectively make decisions using that information,” said Nadia Humphreys, Head of Sustainable Finance Data Solutions at Bloomberg. “To help firms derive more insights from their data faster, Bloomberg’s sustainability data is modelled and linked to Bloomberg’s industry leading corporate structure, security master, and other foundational data for ease of use. Moreover, Bloomberg provides a fully managed service with Data License Plus (DL+) ESG Manager so customers can focus on making investment decisions rather than data wrangling.”

Bloomberg’s ESG data, research, and analytics span regulatory compliance, carbon emissions, sustainable debt, scores, indices, climate risk, and more. Clients can readily access this data on the Bloomberg Terminal via {ESGD <GO>} or across their enterprise via Data License at data.bloomberg.com for use in proprietary or third-party applications. Through Data License Plus (DL+) ESG Manager, Bloomberg connects customers’ ESG data workflows to the full power of Bloomberg’s datasets as well as data from vendor partners, so clients can unlock maximum value with ease. To learn more, visit our website here.

To view the full results of the survey, please click here.

About Bloomberg

Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

Media Contact

Jennifer Molgano | jmolgano2@bloomberg.net

Gen Blog | Community

By Erin Gallegos Corporate Responsibility Manager

Imagine a world where gender equality isn’t just a distant dream but a reality — a world where biases, stereotypes and discrimination are relics of the past. A world where diversity is valued and celebrated, every voice is heard and every achievement is recognized. We strive for this vision as we celebrated International Women’s Day and celebrate Women’s History Month.

This year’s theme underscores the importance of fostering a world that is diverse, equitable and inclusive – a world where differences are not just accepted but embraced. It’s a time to raise awareness about the ongoing struggles for gender equality and to take action to drive meaningful change.

Building a new talent pipeline 

Through partnerships with organizations like Women4Cyber and Czechitas, we work to expand cybersecurity skills among women and close the gender gap that still exists throughout the global tech sector.

One of the best ways to reach those goals is mentorship. Women4Cyber’s Mentorship programs are designed to help women advance their careers in cybersecurity and IT. Mentors, all of whom are working tech professionals, spend six months meeting regularly with their mentees to provide personal and professional guidance, share their experiences, and help mentees identify and achieve career goals. Since 2021, Women4Cyber has matched more than 300 mentors from across Europe with more than 500 women just starting in their cybersecurity careers.

Czechitas, another one of our nonprofit partners, provides reskilling and technical education programs for women in the Czech Republic. The organization engages working tech professionals and experts to lead their intensive long-term courses. Tech professionals also provide mentorship, advice and guidance for enrolled students as they work on their own projects.

Both organizations help to ensure that the future of the tech industry is a more inclusive one, with women having equal access to skills-building and career opportunities in cybersecurity and beyond.

Among those mentors are Gen team members, who have year-round opportunities to participate in these organizations’ mentorship programs. On February 13, Women4Cyber hosted a Speed Mentoring event to connect junior professionals working in cybersecurity with Gen experts. Each mentee had four one-on-one conversations with different team members, offering them a chance to gain well-rounded guidance to navigate their careers in the cybersecurity industry.

Later in March, Czechitas, and the Gen Corporate Responsibility and DEI teams, and our WONDER Community, will host a webinar on the future of work and technology, and the future of women in STEM.

Advocating for women 

At Gen, advocating for women is a year-round effort. We’re always supporting women, and we pay extra attention to helping them succeed in tech because that’s what we’re good at.

One example of this success is Leyla Bilge, Director of Scam Research Labs. She’s made cybersecurity her life since starting in computer science at the age of 18. After an internship with our company, she took on a full-time role. Twelve years later, she’s made tremendous waves as a Gen leader.

When asked about setting goals, she spoke frankly saying, “I never actually set goals because I always thought I could never achieve them. Then, at one turning point, I finally realized I could achieve them.”

Leyla set abstract goals for herself; she wanted to apply a different leadership style that’s not so common – she wanted to be an egoless manager, leading by motivation and making ambition contagious. She saw the results.

Recently, she was recognized for her work at the Seramount 2023 Women of Excellence Awards and was named STEM Steward. The awards honor women who are committed to their own success while selflessly mentoring and championing other women. And Leyla was a perfect example of this.

A message to others: Set goals that aren’t the most obvious or common. We can achieve them. Don’t be afraid to apply for awards or submit papers to academic conferences. That’s how we earn the recognition we deserve. And do what you can to uplift women, no matter what gender you are.

The work continues 

Our work is far from over. Discrimination, bias, and inequality persist in various forms. We must continue to challenge these injustices and work towards gender parity in all aspects of life. We must support and uplift each other, amplifying the voices of marginalized people and advocating for policies that promote equality.

Inclusion means that all actions taken throughout Women’s Month are valid. Whether participating in marches and rallies, organizing educational events or having conversations about gender equality. Every effort contributes to the larger goal of building a more inclusive world.

As we come together to celebrate, let the achievements of women inspire us. Let us raise awareness about discrimination and take action to drive gender parity. Together, we can forge a future where every person, regardless of gender, can thrive and succeed. Let’s continue to #InspireInclusion.

Gen Blog | Community

By Erin Gallegos Corporate Responsibility Manager

Imagine a world where gender equality isn’t just a distant dream but a reality — a world where biases, stereotypes and discrimination are relics of the past. A world where diversity is valued and celebrated, every voice is heard and every achievement is recognized. We strive for this vision as we celebrated International Women’s Day and celebrate Women’s History Month.

This year’s theme underscores the importance of fostering a world that is diverse, equitable and inclusive – a world where differences are not just accepted but embraced. It’s a time to raise awareness about the ongoing struggles for gender equality and to take action to drive meaningful change.

Building a new talent pipeline 

Through partnerships with organizations like Women4Cyber and Czechitas, we work to expand cybersecurity skills among women and close the gender gap that still exists throughout the global tech sector.

One of the best ways to reach those goals is mentorship. Women4Cyber’s Mentorship programs are designed to help women advance their careers in cybersecurity and IT. Mentors, all of whom are working tech professionals, spend six months meeting regularly with their mentees to provide personal and professional guidance, share their experiences, and help mentees identify and achieve career goals. Since 2021, Women4Cyber has matched more than 300 mentors from across Europe with more than 500 women just starting in their cybersecurity careers.

Czechitas, another one of our nonprofit partners, provides reskilling and technical education programs for women in the Czech Republic. The organization engages working tech professionals and experts to lead their intensive long-term courses. Tech professionals also provide mentorship, advice and guidance for enrolled students as they work on their own projects.

Both organizations help to ensure that the future of the tech industry is a more inclusive one, with women having equal access to skills-building and career opportunities in cybersecurity and beyond.

Among those mentors are Gen team members, who have year-round opportunities to participate in these organizations’ mentorship programs. On February 13, Women4Cyber hosted a Speed Mentoring event to connect junior professionals working in cybersecurity with Gen experts. Each mentee had four one-on-one conversations with different team members, offering them a chance to gain well-rounded guidance to navigate their careers in the cybersecurity industry.

Later in March, Czechitas, and the Gen Corporate Responsibility and DEI teams, and our WONDER Community, will host a webinar on the future of work and technology, and the future of women in STEM.

Advocating for women 

At Gen, advocating for women is a year-round effort. We’re always supporting women, and we pay extra attention to helping them succeed in tech because that’s what we’re good at.

One example of this success is Leyla Bilge, Director of Scam Research Labs. She’s made cybersecurity her life since starting in computer science at the age of 18. After an internship with our company, she took on a full-time role. Twelve years later, she’s made tremendous waves as a Gen leader.

When asked about setting goals, she spoke frankly saying, “I never actually set goals because I always thought I could never achieve them. Then, at one turning point, I finally realized I could achieve them.”

Leyla set abstract goals for herself; she wanted to apply a different leadership style that’s not so common – she wanted to be an egoless manager, leading by motivation and making ambition contagious. She saw the results.

Recently, she was recognized for her work at the Seramount 2023 Women of Excellence Awards and was named STEM Steward. The awards honor women who are committed to their own success while selflessly mentoring and championing other women. And Leyla was a perfect example of this.

A message to others: Set goals that aren’t the most obvious or common. We can achieve them. Don’t be afraid to apply for awards or submit papers to academic conferences. That’s how we earn the recognition we deserve. And do what you can to uplift women, no matter what gender you are.

The work continues 

Our work is far from over. Discrimination, bias, and inequality persist in various forms. We must continue to challenge these injustices and work towards gender parity in all aspects of life. We must support and uplift each other, amplifying the voices of marginalized people and advocating for policies that promote equality.

Inclusion means that all actions taken throughout Women’s Month are valid. Whether participating in marches and rallies, organizing educational events or having conversations about gender equality. Every effort contributes to the larger goal of building a more inclusive world.

As we come together to celebrate, let the achievements of women inspire us. Let us raise awareness about discrimination and take action to drive gender parity. Together, we can forge a future where every person, regardless of gender, can thrive and succeed. Let’s continue to #InspireInclusion.

Ronke Ekwensi

T-Mobile’s Vice President and Chief Data Officer

With over 25 years of experience, Ronke Ekwensi is a true champion when it comes to driving business outcomes through data strategy. She says her career journey is far from being a straight line, acquiring expertise across several fields before joining the Un-carrier nearly four years ago as VP and Chief Data Officer. After starting out in IT and moving onto information management where she focused on policy and privacy issues, Ronke eventually dove headfirst into the world of big data. She’s worked her magic across various industries too, making waves in healthcare, biopharmaceuticals, electrical power, technology, consumer electronics and management consulting.

“Ambition is a good thing to have, and I value my inventory of substantive skillsets,” she says. “I run my own race and I have a high bar set to be the best version of myself. I remember when I made VP at a previous company and some people asked if I was surprised. No! I had been working toward that for a year. At some point, you have to know your worth and speak up for yourself.”

After a solid decade of immersing herself in information governance, Ronke made a strategic move to ramp up her commitment to continuous learning. She went back to school at MIT to take a course on big data, choosing to pivot from lofty titles to focus on a field she believed could genuinely make a difference in our world.

“I believe in the transformative power of data, and I’m fascinated by the way it will affect not only business but humanity altogether,” she says. “We have the tools now with generative AI and large language models to make it happen. I can’t wait to see how it all unfolds.”

Ronke Ekwensi

T-Mobile’s Vice President and Chief Data Officer

With over 25 years of experience, Ronke Ekwensi is a true champion when it comes to driving business outcomes through data strategy. She says her career journey is far from being a straight line, acquiring expertise across several fields before joining the Un-carrier nearly four years ago as VP and Chief Data Officer. After starting out in IT and moving onto information management where she focused on policy and privacy issues, Ronke eventually dove headfirst into the world of big data. She’s worked her magic across various industries too, making waves in healthcare, biopharmaceuticals, electrical power, technology, consumer electronics and management consulting.

“Ambition is a good thing to have, and I value my inventory of substantive skillsets,” she says. “I run my own race and I have a high bar set to be the best version of myself. I remember when I made VP at a previous company and some people asked if I was surprised. No! I had been working toward that for a year. At some point, you have to know your worth and speak up for yourself.”

After a solid decade of immersing herself in information governance, Ronke made a strategic move to ramp up her commitment to continuous learning. She went back to school at MIT to take a course on big data, choosing to pivot from lofty titles to focus on a field she believed could genuinely make a difference in our world.

“I believe in the transformative power of data, and I’m fascinated by the way it will affect not only business but humanity altogether,” she says. “We have the tools now with generative AI and large language models to make it happen. I can’t wait to see how it all unfolds.”