2022 End of Year Q&A

Thanks to everyone who asked me a question about how Bloomberg Philanthropies and 彭博资讯 worked to make an impact on some of the toughest challenges we faced in 2022. Hard work and collaboration have inspired our work since the very beginning - and the more we find ways to work together with our partners, the more progress we can make.

What is the biggest existential threat to peoplekind right now that you'd like to see the business community get behind the most? – Jeff Lichtenstein

Thanks, Jeff. Climate change may be the biggest challenge humanity has ever faced. It presents enormous threats to every country and every industry, and parts of the world that have contributed the least to the problem are now facing some of the gravest risks. The good news is: the fight against climate change also presents enormous opportunities – to create new jobs, grow the economy and expand opportunity, clean the air and improve public health. The largest sources of carbon emissions that drive climate change are also major sources of air and water pollution, especially coal-fired power plants. So cutting emissions by switching to clean energy brings many benefits.

Business leaders have strong incentives to lead the way, because they want to avoid risks and capitalize on opportunities. Many are doing exactly that, including Bloomberg: we’re on track to get 100 percent of our energy from clean sources by 2025, and every step we take in that direction helps our business. Energy efficiency reduces our costs and helping to lead the fight against climate change helps us attract talented people who want to be part of the solution. We’re also leading a number of efforts to bring better data to the climate fight, helping companies and investors make informed decisions that grow businesses and shrink emissions at the same time.?

More and more businesses are joining us, and the more we find ways to work together – across industries, across borders, and across the public and private sectors – the faster we can make progress.

You've been making quite impressive impacts with your organizations across the globe. Thank you for your relentless commitment!! How do you make sure your initiatives thrive or reach goals when dealing with competing stakeholders' agendas or pushing against large intimidating industries??– Aleksandra Popov

Thanks, Aleksandra. Special interests will always fight to protect their profits. When we banned smoking in bars and restaurants, the industry fought us every step of the way, but we knew we had the facts on our side – and ultimately, we had public opinion, too, once people began to go out without coming home smelling like smoke. Other cities and countries followed our lead, saving and improving hundreds of millions of lives, and it all started with our team having the guts to stand up to the special interests. Today, no one would ever accept a return to the old days of smoke-filled restaurants and bars – and anyone proposing it would never be elected to office. A critical part of taking on a special interest is to clearly and accurately communicate the benefits that come with victory.

The recent victory for public health in California is another example of how it’s possible to defeat a special interest when you have the facts on your side. The state had passed a law to ban flavored tobacco products. The industry managed to delay implementation for almost two years, by putting the issue on the 2022 ballot. But over 60 percent of voters chose to uphold the law, thanks to a campaign I was glad to support, and the industry’s last-ditch appeal failed in the Supreme Court earlier this month.

So, once again, the tobacco industry lost. Public health won. And when people start to see the effects of the California law, there is reason to believe other states and countries will look at it as a model, just as they did New York City’s smoke-free law.

I'd love to hear more specifically about "government innovation." Bloomberg as a company has been so successful with harnessing reams of data to help customers make impactful analyses. Is this what Bloomberg Philanthropies is after? Helping fund initiatives that help governments analyze data to make better decisions? Is there something in your aim that also addresses how efficient? – Laura J. Keller

Thanks, Laura. We have a saying at both Bloomberg and Bloomberg Philanthropies: “In God we trust. Everyone else, bring data.” Data is at the heart of our business, and it also plays a central role in our philanthropic efforts. It’s how we identify challenges that haven’t gotten the attention they deserve, like frequent childhood deaths from drowning in some parts of the world. It’s how we measure, evaluate, and adjust our programs, to make sure that we’re meeting our goals. It’s how we engage in advocacy: giving people facts that are often buried underneath politics. And it’s how we help cities around the world to take on their toughest challenges.

Some of our government innovation programs – like What Works Cities and our City Data Alliance – empower cities to collect and utilize data in ways that help them improve city services, create operational efficiencies, and deliver better outcomes for residents. Data can be a mayor’s best friend, including in helping to persuade the public to support a new, untested, and innovative idea. But many cities lack the tools they need to use data effectively, so we help them to bridge that gap. Mayors and county executives have been great partners for us, because they tend to be more nonpartisan than members of Congress or state legislators. After all, they’re the ones who the public holds accountable for delivering services they rely on every day, whether it’s filling potholes and picking up the trash or running the schools and keeping communities safe. Data can help them do all of that (and so much else) more effectively and efficiently, and we’ve seen great results from many of the local leaders we’ve worked with in the U.S. and around the world.

Thanks to everyone who shared such wonderful questions. I enjoyed reading them all and learning more about how our work has impacted you - and the causes you care most about, too.?

Until the new year,?

Mike?