Month: February 2023

Originally published on U.S. Bank company blog

The U.S. Bank Law Division has named Alston & Bird the recipient of the 2022 “Invested in Diversity” Award. Now in its fourth year, the award recognizes one of the Law Division’s close outside counsel partners for measurably advancing diversity in the legal profession.

“Alston & Bird has leveraged its distinct practice strengths and firm culture in partnering with the Law Division of U.S. Bank to develop its diverse legal talent working on U.S. Bank litigation matters,” said Jim Chosy, senior executive vice president and general counsel for U.S. Bank. “Together we have created, managed, and followed up on action plans that have advanced the careers of talented team members who bring sharp legal minds and rich perspectives to every assignment.”

While the U.S. Bank Law Division works with many Alston & Bird lawyers on a range of matters, this award recognizes recent efforts by Alston & Bird’s corporate trust litigation team, led by Alex Lorenzo, as part of the bank’s Diversity Dividends Collective program. 

The Dividends Collective program was created and is supported by Diversity Lab to focus on the inclusion, equity, and diversity of legal departments’ outside counsel teams — including who has access to high-quality work, who interacts with in-house counsel, and who receives credit for developing the work. Colleagues from both organizations jointly developed specific individual action plans designed to engage diverse associates in key projects with clearly defined steps, stretch opportunities, and leadership roles.

“We feel profoundly grateful to U.S. Bank for their relentless focus, innovation, and close collaboration in the advancement of diverse lawyers who are emerging as leaders in their fields,” said Richard Hays, Chairman & Managing Partner of Alston & Bird. “It’s a tremendous honor for my colleagues and me to accept an award that celebrates the advancement of diversity, equity, inclusion, and other important values we hold in common with U.S. Bank; this honor marks an important milestone in Alston & Bird’s long-standing commitment to advancing diversity in our profession.”

In bestowing the accolade, Chosy also cited Alston & Bird’s Mansfield 5.0 Certification and progress toward earning Mansfield 6.0 Certification, programs that encourage law firms to consider historically underrepresented lawyers when promoting attorneys into key roles. Notably, U.S. Bank also recognized the diversity of Alston & Bird’s Partners Committee members and local office leaders. 

U.S. Bank, its affiliates, and Alston & Bird have more than 20 years of collaboration between them on both complex legal matters and diversity efforts. In 2017, Alston & Bird was the first firm featured in the U.S. Bank Spotlight on Talent program, which invited a collection of diverse Alston & Bird associates to present in-person continuing legal education programs to the U.S. Bank Law Division.

The U.S. Bank Law Division “Invested in Diversity” award statue, presented to Alston & Bird at a ceremony in Atlanta on February 16, was designed by Minnesota artist and bronze sculpting specialist Kimber Fiebiger. To represent unity and the fight against inequities, the original sculpture depicts the Little Rock Nine – a group of Black students who challenged public school segregation in 1957 and played a significant role in the civil rights movement. 

About Alston & Bird 

Alston & Bird LLP has grown to become a leading international firm while remaining steeped in a culture with client service and teamwork as the cornerstones of all that it does. The firm develops, assembles, and nurtures the strongest and broadest array of legal talent and expertise necessary to meet its clients’ needs in an ever-changing and fast-paced environment. More information is available at www.alston.com.

For the eighth consecutive year, Boston Scientific has been recognized on Fortune’s list of the World’s Most Admired Companies. Companies are selected based on nine attributes encompassing leadership, innovation, quality, social responsibility and workplace culture.

“What makes Boston Scientific so extraordinary is not only our innovative technology, but the passion, commitment and strong values that unite us,” said Mike Mahoney, chairman and chief executive officer, Boston Scientific. “I’m so proud of the work our employees do to help improve the lives of millions of patients and customers in communities across the globe.”

Fortune’s list of World’s Most Admired Companies is developed annually in partnership with Korn Ferry. Candidates include 1,500 of the largest companies around the globe, spanning 27 countries and 52 industries. Winners are chosen based on the results of a corporate reputation survey administered to executives, directors and securities analysts in those industries.

Learn more about what makes Boston Scientific a “Best Place to Work” by exploring our benefits, culture and careers, and by watching the video above.

About Boston Scientific

Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for 40 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.

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Human activity. It’s so often the culprit in the climate change story, and rightly so. Since the Industrial Revolution, atmospheric levels of harmful greenhouse gasses have increased by as much as 50%.

In the climate change debate, we tend to pit progress and prosperity against the environment, as if humanity and the planet can only flourish at each other’s expense. As if less human activity would be a good thing.

But the world doesn’t need less human ingenuity or less human creativity. Especially now, we need more.

This is the story of our greatest natural, renewable resource. Of the human capacity to innovate. Of the people who are out there right now reimagining how the world could work, making a difference in the fight against climate change. This documentary provides hope for a better farming system that can heal the soil, balance our climate, and feed people all at the same time. 
 

Episode 1: Pulling fertilizer out of thin air 
We tapped scientists, innovators and partners to explain how leaps in human ingenuity are helping them confront climate change. In the first episode, plant scientist Howard-Yana Shapiro, Ginkgo Bioworks CEO Jason Kelly, and Jessica Christiansen, Head of Sustainability at Bayer Crop Science, explain why harnessing the power of plants and microbes could help to reduce the use of nitrogen fertilizers, decrease the impact on the environment and revolutionize agriculture.

// WATCH EPISODE 1

Episode 2: Beneath the Surface 
In the second episode, Illinois farmers Mindy and Justin Jefferson, explain why they are not a typical conventional farm and how their practices help fight climate change and conserve their land for the next generation. CoverCress geneticist Ratan Chopra and plant scientist Mark Messmer discuss how plant science and traditional breeding are creating new crops that hold great potential for protecting soil health and generating low-carbon biofuel.

// WATCH EPISODE 2 

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Though the traditional holiday season of giving has wrapped up, the new year presents a variety of opportunities for keeping that sentiment alive. In a recent Q&A with Children’s National Hospital, Brad Knox, senior vice president and counsel, Aflac Federal Relations, shared his thoughts on what it means to be an advocate for a cause near and dear to him — children’s health. Aflac and Children’s National have worked together for more than 10 years, aligning on a common goal: supporting the treatment and research for pediatric cancer and blood disorders.

Brad, now a member of the Corporate Advisory Council, began his relationship with Children’s National Hospital when one of his own children was treated for an injury. He saw firsthand the level of care they provided for his family and quickly learned about all they do for kids — including the incredible work they do for sickle cell disease patients. 

“The work Children’s National does to ensure that all children in the Washington, D.C., area are healthy and prospering is vital to the families and vibrance of our region,” said Knox. “I’ve also been impressed with their sickle cell research, especially given the diverse population of the community. It’s amazing to see the impact locally, nationally, and around the globe.” 

In 2022, Aflac announced $100,000 donation to Children’s National Hospital for research and treatment enhancements for sickle cell disease. This relationship is an extension of Aflac’s 27-year and more than $165 million commitment to helping those diagnosed with cancer and various blood disorders, including sickle cell disease. One way Aflac does this is through its My Special Aflac Duck® program, originally created in 2018 for children with cancer and expanded in 2022 with a version for kids with sickle cell. My Special Aflac Duck is a robotic duck that is provided to children above the age of 3, free of charge and helps them cope with their cancer or sickle cell diagnosis and treatments. Children and caregivers use the ducks for medical play to help kids better understand their treatments and communicate their feelings, which is sometimes difficult.

“I am incredibly fortunate to work for a company that is deeply rooted in caring for others and aligns with my personal values,” said Knox. “Serving on the Corporate Advisory Council at Children’s National is such a privilege and inspiration — meeting with patients and their families and learning about their lives and dreams, their excitement and joy is contagious, and I’m amazed by staff at Children’s National who make that future possible for them.”

How can you become an advocate for a mission that’s important to you? Brad offers a few ways to get started:

Be hands-on. Sometimes the best thing you can do is show up and be there for those in need and for your community. Is there a food bank in your area that needs help sorting donations? Or a kids’ organization that needs excellent storytellers to read books to neighborhood children? Maybe a nonprofit facility that needs cleaning services? If you are able, there are endless opportunities for hands-on service to organizations in your community. Make it even more fun by gathering a group of friends to volunteer together. Find a local cause and donate. It’s simple, but it’s also impactful. Find organizations in your area and research what their greatest needs are. While that may look different in each location, it’s about giving back and bettering the places you call home. Whether it’s a certain dollar amount per month or collection of needed items, give, and give regularly. You can also stretch your contribution further by checking with your employer to see if they offer a donation matching program.

Serve. If you want to take your commitment to the next level, are able to commit the time and an opportunity presents itself, consider becoming a board member of your local children’s hospital or nonprofit organization. Everyone has a special skill set, and by serving on a board, you get to help shape the future for organizations and the communities they support. 

Learn more about Aflac’s commitment to supporting children with cancer and blood disorders at https://www.aflacchildhoodcancer.org/.

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

Aflac | WWHQ | 1932 Wynnton Road | Columbus, GA 31999

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HOUSTON, February 22, 2023 /3BL Media/ – LyondellBasell and Nexus Circular announced they have signed a definitive long-term contract, which will supply LyondellBasell with approximately 24,000 tons of recycled feedstock per year. The material will be produced at Nexus Circular’s new advanced recycling facility, which will begin construction in 2023. The new facility will convert mixed plastic waste, which today mostly ends up in landfills or incineration, into recycled feedstock. LyondellBasell will use the recycled feedstock at its Channelview, Texas facility to produce new plastics which will be marketed under the CirculenRevive brand.

“Customers and brand owners need sustainable solutions to meet their 2030 recycling commitments, and this contract is a concrete step toward advancing partnerships across the value chain,” said Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. “This agreement is aligned with our circularity ambitions, advancing us closer to our 2030 goal.”

Nexus Circular is a commercial leader in advanced recycling with a proven proprietary technology and a leading process design that converts landfill-bound films and other hard-to-recycle plastics into high-quality liquids which are then used to produce virgin-quality plastics. Since 2018, Nexus has been consistently supplying commercial volumes of ISCC Plus certified circular liquid products, having diverted over 8 million pounds of used plastics from landfill.

Clint Thompson, Chief Commercial Officer at Nexus, stated, “We are pleased to collaborate with LyondellBasell to leverage our proven commercial solution that unlocks the full value of plastics and accelerates the transition to a circular economy.”

Forward-Looking Statements For LyondellBasell

The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, the successful construction and operation of the proposed facilities described in this release; and our ability to meet our sustainability goals, including the ability to increase production of recycled and renewable-based polymers to meet our targets and forecasts. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2021, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov.

About LyondellBasell
As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company’s products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and climate change. For more information, please visit www.LyondellBasell.com or follow @LyondellBasell on LinkedIn.

About Nexus
Nexus Circular is an advanced recycling company at the center of the circular economy. Nexus accelerates plastic recycling with a market-leading, environmentally efficient, and scalable process so that people, economies, and the environment can thrive. Using its end-to-end solution, Nexus works with sustainability-minded companies and recycling organizations to secure used plastics, especially hard-to-recycle films, having diverted millions of pounds to date from landfill. Nexus then combines proprietary technology with a leading process design to convert used plastics into clean high-quality, ISCC Plus certified circular liquid products for global companies who use them to produce virgin-quality plastics, which displace fossil-based materials to achieve their recycled content goals. With operations that scale and a team that delivers, Nexus is on a trajectory to convert billions of pounds of hard-to-recycle plastics into circular products to support their global partners’ 2025-2030 sustainability commitments. For more information, visit www.nexuscircular.com.

Nexus Circular. Advanced Recycling. Accelerated.

The public comment period for an exposure draft that proposes a significant revamp to the Biodiversity Standard (GRI 304) closes on 28 February. This reporting standard is being revised in response to growing pressures for organizations to do more to demonstrate accountability for their impacts, in the face of a global biodiversity crisis.

During the 12-week consultation, GRI has reached out to stakeholders around the world through a series of events. Following GRI engagements at COP15 (the UN Biodiversity Conference held in Montreal in December), six global webinars attracted high interest. Further sessions were held for Spanish and Portuguese speakers, as well as a dedicated event for the Africa region. Collectively, these events attracted some 2,400 attendees.

Judy Kuszewski, Chair of GRI’s Global Sustainability Standards Board (GSSB), said:

“I encourage all stakeholders and interested parties to participate in this consultation, and help shape a standard that will be the global focal point for accountability on biodiversity impacts. Improved reporting – across sectors, regions and supply chains – is crucial for addressing information gaps and informing global solutions.”

As the public comment period draws to a conclusion, reporting organizations, data users and other stakeholders are asked to review the draft and submit feedback by completing this online form. All contributions will be considered by the multi-stakeholder Technical Committee that is leading the review process, to inform final changes before the revised Biodiversity Standard is expected in Q4 2023.

Th exposure draft puts forward a package of revisions, including:

Broader reporting that reflects impacts throughout the supply chain;New disclosures to connect with the direct drivers of biodiversity loss, such as climate change;Requirements for disclosure on biodiversity-related human rights impacts;Emphasis on site-specific data, reflecting where the biodiversity impacts take place.

Crucially, the revision of GRI 304 builds on the latest authoritative insights in the field, including extensive engagement and alignment with other global biodiversity frameworks and initiatives.

Read the Medium article by GRI’s Elodie Chêne, reflecting on the Global Biodiversity Framework signed at COP15 and what it means in terms of increased disclosure expectations for the private sector.

Global Reporting Initiative (GRI) is the independent, international organization that helps businesses and other organizations take responsibility for their impacts, by providing the global common language to report those impacts.

The GRI Standards – the world’s most widely used sustainability reporting standards – are developed through a multi-stakeholder process and provided as a free public good. Organizations start with the Universal Standards, then use applicable Sector Standard(s) to determine material topics, and report on those with Topic Standards.

By Steven Rothstein, Managing Director, Ceres Accelerator for Sustainable Capital Markets

The new rule that the Department of Labor (DOL) issued last month that allows climate-aligned funds in 401(k) retirement plans is an important step in ensuring a more secure fiscal future is possible for America’s workers, Labor Secretary Marty Walsh explained during a virtual discussion Ceres hosted with investors, corporate leaders, and regulators in partnership with the Environmental Defense Fund on February 6.

“The objective of the DOL is to make sure retirement savings for American workers are safeguarded,” said Walsh.

The rule is a “return to neutrality” and levels the playing field for all financially relevant factors, added Assistant Labor Secretary Lisa Gomez.The new rule, Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights, followed years of contradictory and confusing rules from the Department of Labor (DOL) on how plan sponsors could take environmental, social, and governance (ESG) factors into account in their investment decision-making for retirement plans. A 2020 rule issued by the previous administration cast doubt on the financial relevance of climate and other sustainability factors when making investment decisions, having a chilling effect on fiduciaries using these factors to evaluate investments, even when doing so would be in the beneficiaries’ financial interests.

In response, the Biden administration proposed a new rule, which was adopted and took effect January 30 following a review of nearly 900 comments submitted by the public; Ceres’ analysis of the comments can be found here.

The new rule clarifies how retirement plan sponsors can include climate and other sustainability factors in their investment decisions under the Employee Retirement Income Security Act of 1974 (ERISA). The rule confirms that fiduciaries should consider ESG factors in investment decisions just as they would any other financially relevant factor. At its core, the rule reinforces the fiduciary responsibilities of prudence in evaluating risks and loyalty to people who entrust those fiduciaries with their money.

During the Feb. 6 discussion Walsh and Gomez joined other speakers from Ceres, union federation AFL-CIO, asset manager Legal and General Investment Management, and the American Retirement Association in unpacking the rule’s significance for investors, retirees, and financial markets.

WATCH THE RECORDING: Climate and 401(k) Plans: The DOL’s New Rule Levels the Field for ESG

The session took place against the backdrop of a pending lawsuit in Texas that a coalition of 25 states filed last month to halt the rule as part of broad efforts taking place nationwide to diminish investors’ ability to consider climate and other sustainability factors in their decision-making.

In her remarks, Gomez explained how the rule makes clear that fiduciaries may, but are not required to, consider the economic effects of climate change and other sustainability factors in retirement plan investing.

Gomez said the rule neither specifically promotes nor discourages consideration of factors such as climate or governance. Allison Wielobob, general counsel of the American Retirement Association, agreed that the federal government shouldn’t categorically forbid certain types of investments. With this rule, fiduciaries of ERISA funds are required to use their best professional judgement in evaluating all relevant factors to fulfill their obligations to their beneficiaries.

The rule also makes clear that fiduciary duty includes exercising shareholder rights, including proxy voting, and removes legal protection for fiduciaries who do not exercise those rights.

Brandon Rees, Deputy Director of Corporations and Capital Markets at AFL-CIO, noted how the rule will “strengthen the retirement security of working people” and provides retirement plan fiduciaries with legal certainty for considering ESG factors in their decisions.

Wielobob, Rees, and John Hoeppner, Head of U.S. Stewardship and Sustainable Investments at Legal and General, were in agreement on the importance of leveling the playing field. When climate and other sustainability factors are indeed relevant investment considerations, fiduciaries should be permitted to consider these factors too.

Climate emergencies are becoming more common and present significant threats to the nation’s financial markets, including the retirement plans of over 100 million working Americans. With the growing risks of fires and floods, it’s important that the people stewarding the retirement savings of hard-working Americans savings build these considerations into long-term retirement planning.

With this new rule in play, there is more opportunity to give Americans the options to invest in funds aligned with their values and safeguard their retirement savings from climate risks.

CNH Industrial brand New Holland Agriculture is always looking towards hiring talented young minds. That is one of the reasons why they have partnered with VIVES Higher Education College of Applied Sciences in Roeselare, Belgium.

The brand has loaned a New Holland CX combine harvester to the college. There, it will support the extensive training and practical guidance work undertaken by students studying for their bachelor’s degree in Agro and Biotechnology.

“Through our graduate and undergraduate programs, we want to train students to become agile professionals. As a university of applied sciences, we don’t have the resources ourselves to constantly invest in the latest technologies. This collaboration with CNH Industrial gives us the opportunity to prepare students even more specifically for the step into the working field. By associating ourselves with innovation champions, we guarantee our students the latest technologies. We are very grateful to CNH Industrial for this cooperation,” said Veerle De Mey, Director of Biotechnology and Technology at VIVES.

The presence of the latest agricultural machinery on campus sparks students’ interest. Their training becomes much closer to real farming. And with solid practical experience, the students improve their employability.

The machine donated is fully equipped. It was built in CNH Industrial’s pilot workshop and undertook three harvesting seasons in Canada.

After a thorough inspection, the New Holland product was put into functional working order. Then, alongside a folding 8-row maize combine, was handed over to VIVES. It is a great example of effective cooperation between industry and education.