Month: March 2023

SAN JOSE, Calif., March 9, 2023 /3BL Media/ – Cadence Design Systems, Inc., (Nasdaq: CDNS) announced that it is making a $50 million USD purpose-driven investment in an impact investment program managed by RBC Global Asset Management (RBC GAM) to address racial wealth inequities in affordable housing, homeownership and small business. In partnership with RBC GAM, Cadence will invest in an impact investment strategy that seeks to positively support underserved Black and Latinx individuals and communities nationally, including those in the San Francisco Bay Area, CA; Austin, TX; Columbia, MD; the New York Metropolitan Area; Boston and Burlington, MA; Research Triangle Park in Raleigh, NC; and Pittsburgh, PA—locations where Cadence has significant operations and a community presence. Additionally, a portion of Cadence’s investment will be focused internationally on projects aimed at supporting women and people of color as well as climate justice initiatives.

“Fostering diversity, equity and inclusion is at the core of who we are as a company, and collaborating with RBC GAM to advance racial equity and community development was a very easy choice,” said Dr. Anirudh Devgan, president and CEO of Cadence. “We are dedicated to making a difference and look forward to seeing the impact that our partnership will have on Black and Latinx communities across the United States as well as on the international initiatives focused on supporting women, people of color and climate justice.”

“Following Black History Month, we’re taking a proactive approach to address the racial income gaps and racial homeownership inequality that exist throughout the United States in commemoration of this important period of reflection,” said KT Moore, vice president, Corporate Marketing at Cadence. “At Cadence, we are committed to supporting diversity and revitalizing communities where we operate and are proud to call home.”

Cadence’s investment will be allocated in RBC GAM’s Access Capital Community Investing Strategy, which will invest in U.S. government-backed securities to support lending in historically underserved communities.

Access Capital has a quarter century of history of supporting investments in underserved communities and was founded in 1998 by Ron Homer, Chief Strategist of U.S. Impact Investing at RBC Global Asset Management, who is a pioneer of impact investing in the U.S. Mr. Homer, who held executive roles at several Black-owned banks before joining RBC GAM in 2008, has dedicated the entirety of his six-decade career to supporting community development and homeownership in Black communities through impact investing.

“We are excited to work with Cadence on this initiative aimed at reducing racial disparities in income and wealth within the United States,” said Mr. Homer. “Through Access Capital’s 25-year history of impact investing, doors have opened that facilitated more people of color to enjoy the benefits of the American dream of wealth, homeownership and income appreciation. On the heels of Black History Month, we must understand the importance of building racial equity across America.”

To learn more, please read our blog at www.cadence.com/go/rbcracialequity.

About Cadence Design Systems, Inc.

Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For eight years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.

About RBC Global Asset Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $525 billion CAD in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.

© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.

Category: Featured

Cadence Media Relations Contact:
Cadence Newsroom
408-944-7039
newsroom@cadence.com

RBC Global Asset Management Media Relations Contact:
Tony Catinella
Sr. Manager, Communications, RBC Global Asset Management
617-722-4711
Anthony.Catinella@rbc.com

Source: Cadence Design Systems, Inc.

At Peloton, Black History Month is an especially important moment for us to come together as a community to uplift Black heritage. We celebrate and explore the transformational influence of Black communities, and make space for the reflection and action required to become an anti-racist organization and society.

On February 15th, 2023, we were honored to host and invite our team members and Member community to participate in a panel discussion exploring the intersection of anti-racism and mental wellness. The panel featured speakers from our valued Peloton Pledge partner, the Center for Antiracist Research of Boston University, and was moderated by Peloton Instructor Tunde Oyeneyin.

The Center’s mission is to build an antiracist society that ensures racial equity and social justice. Joining Tunde in conversation were the Director and Founder of the Center and Andrew W. Mellon Professor in the Humanities at Boston University, Dr. Ibram X. Kendi; Policy Office Chair and Professor at Boston University (BU) School of Law, Professor Jasmine Gonzales Rose; and Narrative Office Chair and Professor of Community Health Sciences at BU School of Public Health, Dr. Monica Wang.

A spotlight on mental health 

Much of the conversation centered on insights gleaned from the Center research study Peloton supported in 2022, titled: “Youth Participatory Action Research (YPAR) activism and organizing as a mental health intervention for Black, Indigenous, and people of color (BIPOC) youth”.

The study aimed to identify effective ways to promote mental health among BIPOC youth and approaches to empower them through political education and organizing.

“So much research is about understanding risk factors and negative consequences. This research team wanted to ask, what is positive…what can build resilience?” – Dr. Monica Wang, Narrative Office Chair at The Center for Antiracist Research and Professor of Community Health Sciences at Boston University School of Public Health

Participants in the study identified as 72% Black – the remainder LatinX and Asian – 43% as LGBTQIA+ – and the primary age range was 14 to 19.

As part of the research, BIPOC youth were brought together to talk openly about politics, activism, and health. These political education sessions revealed that when young people of color come together to talk about these topics, they feel more equipped to handle both system-level and personal challenges.

Following the study, participants identified as:

More able to identify healthy relationships;More confident and able to navigate mental health challenges;More empowered to give back to the community and make a difference.

At Peloton, we have always believed in the generative power of social connection and community. And the study’s findings showed just that – for young people of color, connecting with supportive peers, positive mentors, and being part of a larger community is key to improving their physical and mental wellbeing.

Healing as a foundation from which to build an anti-racist society

Expanding upon the findings from the research, the Center’s experts provided many of their own compelling insights, including Dr. Kendi’s views on the power and process of healing, and why it will be instrumental in building an anti-racist society.

From his perspective, healing society means building a world where no one is without housing or lives with food insecurity. It is a world where everyone is safe from race-based persecution and where all ethnicities, cultures, skin colors, and hair textures are celebrated. It is a kinder society in which we understand, respect, and appreciate one another.

Yes, getting there means “smashing the glass ceiling” – and that can leave scars – but it also creates opportunities to pull up those who come after us. Scars can be permanent, but so can the power of positive change. It might be hard and require the courage to act, but the end result is a better, more empathetic world.

“Courage is so important for healing.” – Dr. Ibram X. Kendi, Director and Founder of The Center for Antiracist Research at Boston University 

But as we do the work to undo systems of oppression and their effects, the panel made clear how essential it is to hold space for oneself. Dr. Wang discussed the importance of self-nurturing, and how something as simple as a morning workout can help us become better at tackling each day, and empowers us to be the best we can be because we’ve taken care of our needs.

She also shared empowering words from author Nic Stone that she draws on for inspiration: “we can do hard things and live softly.”

Taking it to the leaderboard

In true Peloton style, we took this message (and our partners) to the leaderboard. That evening, Tunde led Center staff members, the Black@Peloton employee resource group, and Members of the Peloton #BlackGirlMagic group on a live ride at Peloton Studios New York. Check out the 30 minute BHM Hip Hop Ride here.

Forward, together

Peloton remains honored to partner with the Center for Antiracist Research and support their life-changing work. Looking ahead, we are energized by the opportunity to continue bringing conversations like this to our communities and teams. Support from our Members and partners is what makes this possible. Thank you for being a part of the transformation and positive change.

Learn more about our journey to becoming an anti-racist organization and our community partners by visiting the Peloton Pledge website and reading our 2022 ESG report.

From electric and hydrogen fuel cell vehicles to ESG reporting and sustainability goals, the energy transition now influences a significant portion of the transportation industry’s day-to-day. And while the long-term benefits of transitioning to cleaner and greener energy sources and operations are plentiful, successfully getting from our current state of energy and transportation to a more sustainable future state will be a long and sometimes arduous journey. This will be especially true for smaller fleets with tighter budgets and fewer resources. 

The energy transition poses several challenges for fleets, many born from the need to balance cost-effective and reliable transportation with the growing demand for sustainable and low-emission vehicles. Luckily, convenient, efficient solutions can be found in mobile fuel delivery, data analysis, and technological advancements. 

As fleet managers prepare for a smooth transition, here are some of the key challenges they should look out for:

1. Upfront costs

One of the biggest challenges fleets face in the energy transition is the upfront costs associated with adopting zero-emission vehicles (ZEVs).  For example, electric and hydrogen fuel cell vehicles tend to be more expensive than traditional fossil fuel vehicles. This cost is compounded by the added expenses of fueling at different (and often rarer) stations or building the right charging and fueling infrastructure on-site, as well as the costs associated with training drivers on new vehicles with different maintenance and repair needs. 

While the total cost of ownership of ZEVs may be lower over time due to lower operating costs, the initial investment can be a significant barrier for fleets, especially smaller fleets with fewer resources. To mitigate the budgetary barrier, fleets may be best served by taking a mixed-energy fleet approach, in which they slowly phase in clean vehicles, shifting the ratio of their ICE vehicles to ZEVs over time. 

In the meantime, they can turn to mobile fuel delivery to save money and fuel a range of vehicle types with one simple system. Mobile fuel delivery is the ideal solution for mixed energy fleets due to its adaptable nature and ability to service customers with a vast selection of fuel options. It also saves fleets money over time — on average, mobile fueling saves fleets $1,600 per vehicle annually. 

2. Infrastructure

The need for charging and refueling infrastructure for alternative fuel vehicles poses another significant challenge to developing sustainable fleets. While governments and private companies are actively investing in expanding infrastructure, it remains challenging for fleets to find charging or refueling stations nearby or on route, especially in rural or remote areas. This can impact the range and flexibility of alternative fuel vehicles, making it harder for fleets to adopt them.

Again, mobile fuel delivery stands ready to help. The mobile fueling model is infrastructure-light, meaning it does not rely on fixed infrastructure to fuel vehicles. This is a large contributor to the adaptability of the fueling model because there is no construction, permitting, upfront investment, or route change associated with fueling a vehicle with a new energy source. Want to switch to renewable diesel by next week and add hydrogen FCEVs the week after? Mobile fuel delivery has you covered with on-site fueling for all your needs.

3. Maintenance and repair

Building and maintaining a sustainable fleet entails much more than simply onboarding the vehicles into your operations — you also must relearn many things you thought you knew about maintenance and repair. In most cases, ZEVs require different maintenance and repair procedures compared to traditional vehicles. It may be challenging for fleets to find qualified technicians and repair facilities. This can impact the reliability and uptime of ZEVs, which, in turn also impacts the overall efficiency of fleet operations.

Making careful use of data analytics can help. With telematics and fueling data, fleet managers can easily track what maintenance procedures may be needed and when. Predictive fleet maintenance leverages real-time analytics and long-term fleet data trends to optimize the timing of fleet maintenance activities, keeping fleets running in tip-top shape with their best fuel economy. 

Booster’s data portal offers one piece of the holistic data puzzle by providing easy-to-understand insights into fuel type, gallons, pricing detail, cost savings, labor hours saved, miles reduced, emissions prevented, and more, so you can always have the best information about your fleet’s status. 

Easing into Sustainable Fleets

As fleets transition to more sustainable, cleaner vehicles, they can overcome these challenges and more with innovation and creativity. Fleet operators, manufacturers, governments, and other stakeholders must all collaborate to support and drive the adoption of sustainable and low-emission transportation solutions. By overcoming these barriers with mobile fuel delivery, data analysis, and an iterative approach to transition, fleets can contribute to a more sustainable and secure energy future while meeting their transportation and budgetary needs.