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Sumitomo Mitsui Trust Asset Management Selects Bloomberg Data Solution for SFDR Compliance

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Sumitomo Mitsui Trust Asset Management has adopted Bloomberg’s data solution dedicated to helping firms meet the European Union’s Sustainable Finance Disclosure Regulation (SFDR). The asset manager is one of the largest in Japan and Asia, a signatory of both Japan’s Stewardship Code and Principles for Responsible Investment, and is actively pursuing initiatives to address ESG issues.

The deciding factors in Sumitomo Mitsui Trust Asset Management’s selection of Bloomberg included being able to understand how the data service and support system work, along with the data vendor’s ability to quickly enhance services by keeping up with daily regulatory changes.

“We particularly appreciate Bloomberg’s expertise in ESG regulations and expect the company to provide appropriate data in response to changing regulatory developments in Europe,” says Hiroyuki Horii, senior managing executive officer at Sumitomo Mitsui Trust Asset Management. “Bloomberg’s SFDR data solution provides wide coverage, especially of Japanese equities, and we intend to use the Principle Adverse Impact (PAI) data to comply with SFDR while enhancing our ESG investments and information disclosure.”

Bloomberg’s SFDR data solution generates PAI indicators compliant with SFDR requirements and uses the company’s company reported ESG data covering over 15,000 companies globally.

Sumitomo Mitsui Trust Asset Management will also use Bloomberg’s carbon emissions dataset, which takes company reported data and estimates Scope 1, 2, and 3 emissions for over 100,000 companies.

Norman Tweeboom, Japan regional head at Bloomberg, concludes: “Our SFDR data solutions have helped a number of firms across the globe to navigate the complex regulatory landscape and turn challenges into competitive advantages.”

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