Month: March 2023

Originally published on International Women’s Day

As a world leader in electrical, communications, and utility distribution and supply chain services, Wesco helps our customers navigate business complexities. And, women are at the forefront in doing so.

From our distribution center floors to advisory services to our board room, women are engineers, strategists, problem solvers, innovators, mentors, and leaders, that power progress for our customers, suppliers and fellow colleagues.

Creating an environment where women thrive is a critical component of our inclusion and diversity strategy.

We invest in and shape strong female leaders by providing programs that help women develop skills, network and gain experiences that advance their careers.

Through our business resource group mentor circles and our Diverse Leadership Program we’re accelerating diverse talent development and creating visibility and opportunity to propel women into critical roles within our organization. Through these initiatives, we’re making progress, but it is a continuous improvement journey.

We’re also ensuring we have a positive impact on the supply chain.

Through our supplier diversity program, we strive to increase representation of businesses owned by women, minorities, veterans, people with disabilities, service-disabled veterans and the LGBTQ+ community.

We recognize the benefits a network of diverse businesses brings to our customers that we serve and to the communities in which we operate around the world.

We’ve been recognized in the Bloomberg Gender Equality Index, for the fifth consecutive year, reaffirming our commitment to gender equality and empowering women in our workplaces.

Wesco was also named by Latino Leaders as one of 30 best companies to work for in 2022 and is one of only eleven companies named a Vibrant Champion in inclusion and diversity for 2022.

When it comes to water scarcity, the numbers are global, but the impact is hyperlocal.

Community by community, neighbor by neighbor, the issue of water stress impacts humanity’s health and wellness as well as economic development. And yet, more than 1.7 billion people live in water basins that are being depleted by overuse and a 40% shortfall in freshwater resources is predicted by 2030. New water cannot be created, so we must be efficient with the water we use, and return what we take — particularly in highly stressed water basins. Water stewardship means taking care of the communities and ecosystems that share water resources.

In 2021, Meta announced an ambitious goal to be water positive by 2030 and in 2022, joined the Water Resilience Coalition of the UN CEO Water Mandate, a cross-sector initiative to raise the ambition of corporate water stewardship and foster collective impact in priority basins.

“Meta is honored to be a member of the Water Resilience Coalition alongside leading organizations and businesses committed to taking action on water. We’re committed to becoming water positive by 2030 by sourcing water responsibly, driving water efficiency across our facilities and operations, and investing in local water restoration projects where our facilities are located. Through the Water Resilience Coalition, we can work together to collectively protect this shared and precious resource.”

NICK CLEGG 
PRESIDENT, GLOBAL AFFAIRS, META

Striving for Water Positive and Water Stewardship

For Meta, being water positive is about using water efficiently in our operations and returning more water than we consume in water-stressed basins through projects that address local needs and context. We seek to be good water stewards in water basins where we have operations through water efficiency measures and by taking into account the local context and needs of the shared basin.

Water stewardship aims to make sure local access and use of water is culturally equitable, environmentally sustainable and economically beneficial. It requires understanding the ecological and geographical context of local water use — along with issues of governance, balance, quality, sanitation and hygiene — and calls for meaningful individual and collective action.

We are listening to that call. Good water stewardship is intrinsically linked to our other sustainability priorities, which affect how we operate, how we create and how we collaborate. As climate change continues to impact water scarcity on a global scale, good water stewardship will remain a critical collective concern, especially for those living in low-income and disadvantaged communities that face increased climatological risks. 

The road to water positive begins, of course, with saving as much water as possible in the first place. From there, Meta prioritizes the basins where we operate that face water stress and collaborates with partners to preserve and restore the health and resilience of local watersheds, based on local need, even as our need for water grows.

Minimizing Water Use in Our Data Centers

Around the world, our 21 data centers power our family of apps and services 24/7. Maybe it’s no surprise then, that they account for most of Meta’s water use as well.

Since 2012, we’ve tracked and reported water usage effectiveness at our data centers as a first step to good water stewardship, but we’re constantly seeking innovative ways to minimize our water use as well — like using direct evaporative cooling, which relies on outside air rather than chilled water and cooling towers, to keep internal temperatures down.

Additionally, we’re proactively choosing plant species, efficient irrigation, alternative water sources, Forestry Stewardship Council (FSC)-certified new wood products and smart scheduling technologies that together save more than 80,000 kilogallons of water per year at our data centers.

Restoring Local Watersheds

Our restoration efforts not only play a critical role in advancing our water stewardship goals, but promote biodiversity in neighboring communities too. Working with local organizations and utilities, we are investing in restoration projects in water-stressed regions that support the local water supply and help restore local habitats and wildlife.

Since 2017, we have invested in 25 water restoration projects in seven watersheds where we operate data centers. One of the most impactful has been in the Rio Grande basin in New Mexico, which faces water stress and drought. In partnership with the Middle Rio Grande Flow Restoration Project, the 2020 program leased 450 acre-feet of water from the City of Bernalillo, NM, to support wetland and channel areas in the Isleta Reach of the Rio Grande. The water was commingled with volumes acquired through other leases to help keep 35 river miles flowing to support the wetlands and water channels on which the area’s birds, fish and wildlife depend.

Water restoration will remain a high priority for us going forward. As of August 2021, we have invested in water restoration projects that will replenish more than 850 million gallons of water per year in water-stressed basins. You can read more about our ongoing efforts in our Volumetric Water Benefits report.

Increasing Water Efficiency in our Workplaces

With nearly 72,000 employees in our offices across 80 cities, our facilities teams work hard to track our water withdrawal. Many offices, including our headquarters in Menlo Park, CA, utilize on-site recycled water systems to reclaim water from a variety of sources. And across all facilities, we’ve reduced our water needs by installing efficient plumbing fixtures and planting low-water-use plants.

It’s a lot but we still have a long way to go to meet our goal of water positive by 2030. By combining transparency with collaboration and collective action to address local needs, we aim to be good water stewards for our local communities and our planet, ensuring a sustainable future for all.

Curious about what else we’re doing to be water positive? Check out our 2021 Sustainability Report.

One of the Biomimicry Institute’s Ray of Hope Prize® teams is applying biomimicry to create solutions for eliminating toxic chemicals from the built enviroment.

A team from Carnegie Mellon University’s Institute for Green Science has been studying liver enzymes for decades, and they’ve created a startup called Sudoc, to commercialize the research. 

Sudoc creates synthetic mimics of liver enzymes that dramatically reduce or even eliminate https://www.linkedin.com/company/sudoc-llc/toxic chemicals that we use to clean our built environment. From cleaning up mold, to treating emerging contaminants in wastewater, Sudoc is enabling nature-inspired chemistry. 

Sudoc was a participant in the 2022 Ray of Hope Prize program this year, and the Biomimicry Institute is now on the hunt for the 2023 cohort. If you are bringing a nature-inspired solution to life, please click here to learn more.

Originally published by Nexstar Media Inc. on wpri.com

Marissa Weidner, Chief Corporate Responsibility Officer with Webster Bank talks about her role and explains Webster’s significant community investment strategy.

Watch the interview here

About Webster
Webster Financial Corporation (NYSE:WBS) is the holding company for Webster Bank, National Association and its HSA Bank Division. Webster is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country’s largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $69.1 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Investors focusing on climate change often overlook Chinese firms. We think that’s a mistake. Chinese companies are playing an indispensable role in the global transition to a greener future—and carefully selected shares offer attractive return potential.

Most environmental funds have little or no holdings in China. Five of the 10 largest global environmental equity funds by assets under management had no exposure to China at all at the end of 2022, according to our research based on Morningstar data. Four of the remaining five had less than 5% of their holdings in China.

All Environmental Roads Lead to Chinese Companies

That seems like a missed opportunity. Accelerating decarbonization efforts around the world require Chinese products. Demand for solar energy, wind power and electric vehicles (EVs) draw on vast global supply chains. And Chinese companies dominate some global markets for raw materials, products and components that enable the green transition.

For example, Chinese copper and nickel are essential ingredients for wind turbines, solar panels and EVs. China also processes 58% of the world’s lithium and 87% of rare earths, which are used to manufacture wind turbines and EVs (Display).

Energy Transition: Here Comes the Sun and Wind

Solar energy installations are mushrooming. China accounts for 37% of global solar energy demand and is also the world’s largest consumer of solar equipment. About three-quarters of the global solar manufacturing supply chain is in China, according to BloombergNEF data.

Businesses and homeowners around the world seeking to install solar power will need equipment that relies on raw materials such as polysilicon, which China dominates. China also manufactures 97% of the solar wafers and 81% of the solar cells used around the world, according to BloombergNEF.

As a result, Chinese solar equipment makers are poised for tremendous growth both from increased demand in China and from other countries pressing ahead with net-zero agendas. Examples include JinkoSolar and JA Solar, two large integrated solar module suppliers, with a combined global market share of about 32% in 2022.

Chinese companies are also prominent in wind energy. Ming Yang Smart Energy Group is a leading Chinese wind turbine manufacturer, especially in offshore wind. The company has a 22% market share of global wind installations outside China as of 2021, making it second only to Siemens Gamesa Renewable Energy, the Spanish-German wind engineering group.

Empowering the EV Revolution

China is already the world’s largest EV market—and Chinese automakers are intensifying competition for EVs with global carmakers. For example, BYD of Shenzhen makes electric cars and buses and is the world’s second-largest EV supplier globally, after Tesla. When including plug-in hybrids, BYD is the largest supplier of vehicles powered by new energy sources, with an 18% global share.

Beyond the carmakers, the EV supply chain is brimming with opportunities. For example, about 75% of battery cells for EVs are manufactured in China, along with about 70%–80% of the cell components. As global demand for EVs continues to grow, fueled by subsidies, China will remain a dominant player in all the supply chains through the coming decade, according to Tom Moerenhout, Adjunct Associate Professor at the Center on Global Energy Policy at Columbia University’s School of International and Public Affairs. Dr. Moerenhout discussed China’s role in the global EV revolution in a workshop series last year conducted by AllianceBernstein and Columbia University entitled The Making of a Green Giant: Decarbonization with Chinese Characteristics.

Examples of Chinese EV enablers include CATL, the largest global EV battery maker with a 32% market share. The company is a supplier to some of the biggest US, European and Japanese carmakers.

Infrastructure Solutions for Environmental Efficiency

Achieving net-zero goals requires infrastructure solutions for EVs, alternative energy, as well as initiatives to make more efficient use of energy, water and environmentally friendlier materials. Copper miners, undersea electrical cable makers and smart grid solution providers are all contributing to the global efforts to upgrade and streamline infrastructure.

NARI Technology is a good example. The company is a provider of equipment for power grids, supplying technology solutions in areas including system automation, smart grids, renewable energy and energy conservation. NARI has a market share of 30%–40% in key product categories.

How to Invest in China’s Net-Zero Enablers

International investors may have some concerns about investing in Chinese companies given the significant influence of policy decisions on the economy. However, we believe a disciplined approach focused on Chinese enablers of the global energy transition that is aligned with China’s long-term policy objectives can help mitigate regulatory risks.

Investors who understand the nuances of China’s policy and the economic landscape can find resilient, long-term opportunities. China’s commitment to reaching carbon neutrality by 2060 is a key long-term policy trend that should support companies involved in the transition.

There are plenty of companies to choose from in sectors ranging from industrials to utilities, materials, consumer discretionary and technology. We’ve identified about 400 Chinese onshore and offshore stocks that are participating in the net-zero transition and have a market capitalization of at least $1 billion. From this pool, investors can find the strongest candidates by looking for industry leaders that are contributing to net-zero goals and addressing climate risks. Investment candidates should also have business models with wide competitive moats, the ability to generate sustainable long-term growth and attractively valued shares.

Despite challenging macroeconomic conditions, we think the push to wean the global economy off fossil fuels will continue unabated. This should translate into persistent growth drivers for companies empowering the energy transition. By focusing on Chinese companies with solid fundamentals that are deeply embedded in this global green effort, portfolios can capture an attractive source of return potential that has gone largely unnoticed by investment managers.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams and are subject to revision over time.

References to specific securities are presented to illustrate the application of our investment philosophy only and are not to be considered recommendations by AB. The specific securities identified and described do not represent all of the securities purchased, sold or recommended for the portfolio, and it should not be assumed that investments in the securities identified were or will be profitable.

Schneider-commissioned research finds most companies planning to spend under 2% of revenues on sustainability and decarbonization initiatives

On the demand side of the energy transition, only 31% of organizations currently push electrification as a way to decarbonize

BOSTON /3BL Media/ – Schneider Electric, the leader in the digital transformation of energy management and automation, issued an urgent call for governments and companies around the world to accelerate their sustainability action and step up investments into technologies that will help them reduce their carbon emissions and bolster their energy security.

The call comes amid spiking energy prices, an energy supply crisis and fast accelerating climate change, which together pose major challenges for companies, economies and societies around the globe. These challenges form the backdrop for the World Economic Forum’s annual meeting in Davos, Switzerland, from 16-20 January, which senior Schneider Electric executives will attend.

“Today’s climate and energy crises are an economic reality for ever-increasing numbers of people. As business leaders and policymakers come together at Davos, we must act in our own best long-term, not short-term, interests,” said Jean-Pascal Tricoire, Schneider Electric’s Chairman and CEO. “We must not avoid the tough decisions. There can be no long-term prosperity without a complete energy transition. At Schneider, our approach is to ‘Digitize Strategize, Decarbonize’ – businesses, governments and societies must do this now, to make good on the commitments they have made.”

With 38% of global CO2 emissions coming from the built environment, and a further 32% from industry[1], Schneider Electric’s products, software and services in the areas of industrial automation and energy management help companies, industries, building managers and households to decarbonize and digitize their energy usage.

Schneider Electric also offers deep insights into decarbonization trends and solutions, through surveys, research and in-depth reports compiled by the Schneider Electric Sustainability Research Institute.

An independent survey of more than 500 C-suite executives commissioned by Schneider last year found that corporate sustainability commitments and investments are often hampered by the complexity of decarbonization. On average, the financial commitment to sustainability and decarbonization initiatives across the companies surveyed was less than 2% of projected revenue over the next three years – despite the fact such investments are often efficient and cost-effective, with return on investment often under one to three years.

Respondents highlighted stakeholder alignment, budget, technology, skills and regulation as challenges to sustainability implementation. However, a majority noted that enhanced industrial automation and the upgrading of electrical infrastructure will form a key part of their sustainability plan for the next three years.

Renewable energy procurement is among the top initiatives pursued on the supply side, while electrification – a key demand-side measure – scores low among organizations’ sustainability priorities. Alongside electrification, delivering increased efficiency across existing infrastructure through digitization and automation will be among the most important levers in the next decade, being the fastest and most capital-efficient means for many organizations to reduce emissions.

Embracing sustainability as a business imperative, with digital solutions key to navigating the global energy crisis

A further recent Schneider Electric report on the EU’s electrification potential found that focusing on sectors in which electrification is both feasible and attractive could raise electricity’s share of the energy mix from around 20% to 50%. In turn, the share of natural gas and oil would drop by around 50%, contributing significantly to improved energy security. Schneider Electric offers specific, practical solutions to help companies navigate this transition more quickly and efficiently.

Schneider Electric points out that today’s European energy crisis follows decades of secure, reliably available energy and relatively stable pricing. Many are experiencing for the first-time unpredictable energy supplies and unaffordable prices, demonstrating a failure both of long-term energy security preparedness, and of the implementation of decarbonization plans. This in turn underscores the importance of reevaluating the entire energy equation, from the supply side (energy transition) to the demand side (energy efficiency).

“Purpose and profits must align to become powerful forces in the fight against climate change,” said Mr. Tricoire. “We already have the technology to avert the energy and climate crises, and to deliver safe, reliable, and sustainable energy distribution and energy use. Our data-driven approach, spanning industrial automation, digitization and the digital twin technology of the enterprise metaverse, combines to unlock a brighter, more sustainable and more prosperous future. The urgency for action has never been greater than it is now.”

Footnotes

^[1] IEA Global Energy Review: CO2 Emissions, 2021

Every Friday for more than two years, a community church in North Wales, U.K., would transform into a one-stop shop of social services for people experiencing homelessness. Everything from housing to haircuts, mental health services and foot care by local podiatrists were offered to at least 70 people who showed up specifically for these services each week.

It was here that lead blood-borne virus pharmacist Sarah Hulse and her colleagues at the Betsi Cadwaladr University Health Board set up a point-of-care diagnostic device that could deliver hepatitis C (HCV) test results in less than an hour. This enabled pharmacists to assess patients and prescribe medication for treatment to begin as soon as possible.

Previous testing methods in the community took at least a week for results to come back, and there were multiple appointments for treatment in settings that weren’t convenient.

“Individuals would have to return to a hospital or clinic for treatment, but they didn’t come,” explains Sarah. “Engaging a population that doesn’t have stable housing, reliable communication and transportation is a big challenge, thus delivering care closer to where the need was rather than asking patients to come to us was critical.”

HCV is a virus that attacks the liver and can cause cirrhosis and liver cancer, but it can be prevented with proper interventions, as well as treated and cured with today’s medicines. In fact, Gilead helped to pioneer medicines to cure HCV and is committed to addressing the unmet needs of people living with viral hepatitis. Because HCV is associated with drug use, there has historically been stigma around it.

Micro-Elimination Programs Help Overcome Barriers to Treatment 
Among the biggest barriers to testing and treatment are stigma and access, and experts believe that tailored outreach and treatment approaches are key to meeting people where they are and ensuring specific populations get the care they need. The global hepatitis community endorses micro-elimination programs that strategically target traditionally difficult-to-reach populations, such as those experiencing housing instability in North Wales, and Gilead has long supported grantee programs like this that address barriers to care.

In many U.S. regions, mobile treatment centers or syringe exchange programs in vans have proven effective. But for people living in the Appalachian Mountains areas, such as Ohio or Pennsylvania, there are fears around others knowing about an HCV diagnosis. That’s why Kathi Scholz, an infectious disease nurse practitioner at Central Outreach, teamed up with the director of a methadone clinic in Pennsylvania to create The Cure Squad, another Gilead grantee.  

“We leverage community partnerships within other programs to test and treat people,” says Kathi. “It makes no difference to us how you got it, where you got it or when you got it. We just want to cure your hep C.”

The Cure Squad provides outreach to various recovery and treatment centers, homeless shelters, transitional homes and other non-clinical settings to test people for HCV, HIV and sexually transmitted infections (STIs). As is the case in North Wales, this enables faster test turn-around times in order to ensure a path to care.

“Storing medication is also a challenge for people with unstable housing situations,” explains Kathi. “We’ve found that lanyards help keep their medications safe, and blister packs, as opposed to pill bottles, help with treatment adherence.”

In North Wales, the micro-elimination efforts were so successful in the initial rollout that the program was expanded across the region. The pandemic temporarily stopped the one-stop services offered at the church, but since the program launched at the end of 2019, nearly 100 people have received treatment.

“Being cured of HCV has had a really life-changing impact on a lot of the patients,” says Sarah.

Originally published by Gilead Sciences