Bloomberg expands carbon emissions dataset to cover 100,000 companies

Financial data provider Bloomberg has expanded its carbon emissions data to include 100,000 companies. The dataset includes emissions data reported by companies in addition to estimates produced by Bloomberg’s modelling techniques. Estimation, according to Bloomberg, is undertaken when data availability from company sources is constrained. For Scopes 1 and 2 emissions, the model applies a machine learning-based methodology to data from 2010 onwards. For Scope 3, top-down and bottom-up machine learning methodologies are combined to produce estimates. As investors refine and update their investment strategies, emissions data becomes an input of strategic significance. Brad Foster, Bloomberg’s head of enterprise data content, said, “Greater precision in Scope 1, 2 and 3 carbon emissions data will enable asset managers and banks to measure the extent of climate change risk within their investment and lending portfolios, and across their operations as a whole”.