Sumitomo Mitsui Trust Asset Management (SuMi Trust) has adopted Bloomberg’s Sustainable Finance Disclosure Regulation data solution to help it adhere to the EU ESG regulation.
SuMi Trust will use Bloomberg’s company-reported ESG data to generate principal adverse impact (PAI) indicators that are compliant with SFDR criteria.
The Japanese asset management business will also utilise Bloomberg’s carbon emissions dataset, which estimates Scope 1, 2 and 3 emissions for over 100,000 companies, as part of its ESG efforts.
Under SFDR, investment firms must disclose PAI indicators to account for ESG factors in the firm’s investment activities.
SuMi Trust is already a signatory of Japan’s Stewardship Code and the Principles for Responsible Investment.
Hiroyuki Horii, senior managing executive officer of SuMi Trust, says: “We particularly appreciate Bloomberg's expertise in ESG regulations, and expect that the company will be able to provide appropriate data in response to changing regulatory developments in Europe.
“Bloomberg’s SFDR data solution provides wide coverage, especially of Japanese equities, and we intend to use the PAI data to comply with the SFDR while further enhancing our ESG investments and information disclosure.”
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