Bloomberg LP Joins the Linux Foundation's OS-Climate

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Jul 31, 2024, 09:00 ET

SAN FRANCISCO, July 31, 2024 /PRNewswire/ -- OS-Climate is pleased to announce that Bloomberg LP has joined its growing community of members. As part of OS-Climate, Bloomberg will help support initiatives aimed at building data and software tools, available to all, that utilize open source technology to help foster the development of solutions in climate and sustainability risk analysis, risk management, and regulatory compliance.

In addition, Ben Carr, Bloomberg's Global Head of Climate Risk Products will represent the firm on OS-Climate's Governing Board.

OS-Climate's goal is to foster open source collaboration between technical experts from NGOs, governments, financial institutions, academia, and companies, with a view to accelerating the creation of software and data that can help inform individual decision making relevant for assessing progress towards the Paris Climate Accord goals. As an umbrella project of The Linux Foundation, the initiative aims to facilitate technical collaboration in a well-structured, open source environment, avoiding wheel reinvention, creating efficiencies, and tapping shared knowledge. All OS-Climate data and code are subject to open-source licenses that allow members and non-members to incorporate the relevant data and code in proprietary or commercial products and services.

"We are delighted to welcome Bloomberg LP to OS-Climate. As a trusted provider of data and analytics, Bloomberg's expertise will make a valuable contribution to open source collaboration within the OS-Climate community," said Truman Semans, CEO of OS-Climate. "We look forward to working together to develop an open source tool which can be used to quantify how companies are implementing their individually stated climate goals and aligning with other goals and benchmarks."

"Bloomberg LP is pleased to join OS-Climate to support open source collaboration and accelerate the development of tools that can help our clients, and the investment community at large, to succeed in a rapidly evolving world," said Ben Carr. "The financial services industry is in need of robust data and analytical tools to assess exposure to climate risk, enhance the credibility of sustainable finance and help investors identify climate-aligned companies."

Applying knowledge gained from its successful involvement in other Linux Foundation initiatives, Bloomberg will assess opportunities to support OS-Climate open source projects such as those projects to develop Data Mesh and geospatial data capabilities, a Physical Risk and Resilience Tool, a Portfolio Alignment Tool, and a Transition Scenario Analysis Tool.

Bloomberg LP's sustainable finance solutions span ESG data, sustainable debt and climate risk. In addition, Bloomberg Terminal users have access to ESG research from Bloomberg Intelligence and BloombergNEF. For more information, visit Bloomberg Sustainable Finance Solutions.

About OS-Climate

OS-Climate is a non-profit community of collaboration between companies developing data and analytics solutions for climate-aligned finance, investing, business, policy and regulation, and economic development. Its members include asset owners, asset managers, banks, and financial information, technology, and consulting companies. It is part of the Linux Foundation. To learn, please visit os-climate.org.

Media Contact:
Noah Lehman
The Linux Foundation
[email protected]

SOURCE The Linux Foundation