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Climate change poses both risks and opportunities for business.

Bloomberg conducts climate scenario analysis annually to better understand the potential effects of climate change on our company and help us determine the best paths forward for our business in a range of different future scenarios.

Climate scenario analysis can help investors understand how a company’s strategy may be resilient as the climate changes, regulations evolve, new technologies emerge and consumer behavior shifts. As a private company, we do not have investors. However, demonstrating how our company is positioned to respond to climate change may strengthen our relationships with clients, employees and communities while informing policymakers on best practices for corporate reporting. Climate scenario analysis has also proven to be a useful tool for managing our own climate risks and identifying opportunities.

Our scenario analysis follows guidelines developed by the FSB Task Force on Climate-related Financial Disclosures (TCFD). Bloomberg is a key supporter of the TCFD.

This is the second year that we have undertaken climate-related scenario analysis. Our impact estimations and potential results have not changed materially since last year.

In 2018, we also added signals tracking to our analysis process. We established a set of signposts that will allow us to more rigorously monitor different scenario pathways to see if the world is moving closer to one potential scenario or another. This is useful to us because the climate-related issues that impact our business may not change significantly from year to year. Our signposts allow us to track and understand incremental market changes so we can adjust our business strategies.