Month: March 2023

Sustainable companies are setting ambitious climate targets to cover their operations and supply chains.

To help those companies meet their commitments, SAP has become an innovation partner in the Value Chain Carbon Transparency Pathfinder program from the World Business Council for Sustainable Development (WBCSD), a global, CEO-led organization committed to accelerating the transition to a sustainable world.

Why Carbon Accounting Needs to Evolve

For corporate climate action to succeed, particularly in the supply chain, companies must be able to record, report, and act on reliable and accessible emissions data. Such data is needed to set accurate net zero targets, identify specific intervention areas to maximize decarbonization, and accurately track emission reduction initiatives.

The current accounting system for supply chain emissions relies on data that often needs more accuracy, granularity, and comparability. A carbon accounting system that mirrors the financial accounting world would help companies and consumers understand the real impact of their products. Companies should pass credible emissions data along the value chain from one company to the next, tied to specific products and services as a carbon invoice.

Two fundamental problems need to be addressed to strengthen the credibility of sustainable companies and their decarbonization activities: data quality and data access. Addressing the following issues with the help of technology will increase access to high-quality data:

Create transparency around emissions that sit outside a company’s direct controlEnable access to accurate data collected in real time through automationEnable different carbon accounting solutions to interact using data standardization within the network through technological interoperabilityCreate open and goal-oriented cooperation between technology companies and standardization bodiesUse primary data from own operations and suppliers instead of relying on secondary data taken from sources such as IEA, EPA/EEA, or Ecoinvent to understand emission hot spotsApply uniform standards for the same calculations throughout the value chain

What Carbon Accounting Based on Actuals Will Look Like

In financial accounting, profit and loss statements and balance sheets are maintained in the general ledger in a company’s enterprise resource planning (ERP) system. Companies share data via purchase orders and invoices from one value chain participant to the next. Global standards govern how the data is calculated; this same approach needs to be adopted for carbon accounting.

Three things are needed to remedy the lack of carbon transparency. Existing carbon accounting rules must be continuously updated, technology infrastructure should be agnostic, and greater collaboration must occur across value chains, industries, and private and public sector players.

The ideal system will provide a harmonized approach for calculating carbon footprint and enable data sharing in an open, digitalized, flexible manner across solutions and platforms. At each step of the value chain, companies will have access to standardized emissions data. With more accurate accounting of both product emissions and overall corporate emissions, organizations can set goals and track progress more effectively.

How Companies Can Start Shifting the Dial

To make a measurable difference in the near term, companies can adopt a hybrid carbon accounting approach until a more complete ledger-based solution is in place. They can begin by improving the accuracy and granularity of Scope 1 and 2 emissions, and implementing a credible Scope 3 strategy based on the following steps: identifying the source of emissions, collecting product carbon footprints (PCFs) from suppliers, collaborating to reduce emissions, expanding PCF data exchange, and continuously improving carbon data quality, granularity, and accessibility.

Sustainable companies achieve competitive differentiation for their products and services by taking these steps. This is already apparent in consumer-facing industries like food and beverage as well as heavy-emitting industries like cement and steel. Furthermore, these businesses are best prepared for future carbon pricing or carbon taxes

Carbon accounting, especially Scope 3, is a challenge solved through collaboration and standardization to achieve transparency and data quality.

For more details, download the full report here.

Sebastian Steinhaeuser is chief strategy officer at SAP.
Anna Stanley-Radière is director of Climate Transparency and member of the Extended Leadership Group at WBCSD.

The Biomimicry Institute is now looking for the next top nature-inspired startups!

The Ray of Hope Prize® by the Biomimicry Institute is an accelerator program designed to amplify startup founders commitment to sustainability, conservation, and purposeful business. All participating teams will receive startup training, science communication support, and an incredible nature retreat, in addition to the $150,000 in prize funding available.

Last but certainly not least, participants will join a network of peers dedicated to looking to nature to solve some of the biggest environmental and social challenges.

The Ray C. Anderson Foundation is the primary funder for the Ray of Hope Prize.

Learn more here.

PHILADELPHIA, March 9, 2023 /3BL Media/ – Aramark (NYSE: ARMK), a global leader in food and facilities management, announced today that it has entered into an equitable alliance with Triple B Hospitality Group (Triple B), a Black-owned leader in human-centric hospitality, to bring new avenues of value to Aramark Workplace Experience Group clients who want to empower their people and communities, to overcome labor challenges, and to drive more equitable impact from their businesses.

The alliance will support Aramark’s commitment to building more effective partnerships with women- and minority-owned businesses, bridging gaps in economic impact, and linking talented people to stronger, longer-term workplace opportunities.

Founded by three seasoned hospitality industry professionals, Triple B is powered by thought leadership grown from frontline roots and focused on fresh strategies that benefit businesses and broaden their scope of diversity, equity, and inclusion.

“Aramark understands the value in building and implementing diverse, equitable, and inclusive practices in the workplace,” said Keith Bethel, Co-President of Triple B Hospitality Group. “We are thrilled to be partnering with Aramark to share resources, expertise, and ideas that can help move our shared clients forward in their DEI commitments and make a lasting impact on the hospitality industry.”

In partnership with Triple B, Aramark will prioritize the needs of its workforce by going beyond diverse spending and focus on community building as well as mentorship opportunities and engaging professional development programs for frontline workers.

“Triple B’s knowledge and expertise are an invaluable asset as we continue to invest in people and planet,” said Ellen Wilson, Chief Growth Officer of Aramark Workplace Experience Group. “We are honored to play a part in the Triple B mission. This alliance is an important addition to our approach and underscores Aramark’s belief that a diverse and inclusive workplace fosters innovation and holistic prosperity. We are thrilled to expand upon our longstanding relationship with Triple B’s founders – Keith Bethel, Marc Brooks, and Junior Bridgeman – to support diverse communities and build a more equitable world.”

About Triple B Hospitality Group

Triple B Hospitality is led by three hospitality leaders, whose decades-long work has built a more diverse, inclusive, and equitable industry. Triple B creates renowned, best-in-class dining experiences for workplaces, educational institutions, and event venues. Their purpose is greater than simply providing nourishment, as they utilize their years of wisdom to provide high-quality services that enrich the lives of our guests, clients, and associates. Learn more at https://triplebhospitality.com.

About Aramark

Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world with food, facilities, and uniform services. Because our culture is rooted in service, our employees strive to do great things for each other, our partners, our communities, and the planet. Aramark has been recognized on FORTUNE’s list of “World’s Most Admired Companies,” DiversityInc’s “Top 50 Companies for Diversity” and “Top Companies for Employee Resource Groups,” Newsweek’s list of “America’s Most Responsible Companies 2023,” the HRC’s “Best Places to Work for LGBTQ Equality,” and scored 100% on the Disability Equality Index. Learn more at www.aramark.com and connect with us on Facebook, Twitter, and LinkedIn.

Originally posted on bloomberg.com.

At Bloomberg, we believe that advancing women and people from other underrepresented groups in the workplace is critical to our success as a business. However, many women in tech face huge obstacles and feel stuck in their careers. In fact, according to a study by Coqual, more than half of highly-qualified women in STEM quit their jobs over time. Notable challenges they face include alienation, extreme hours, bias, exclusion and isolation, and managers not seeing them as having leadership potential.

We can all take steps to value and amplify the knowledge, experience, insight, and ideas that women contribute to the workplace so everyone can benefit. Below, some of our women engineers and allies share some great suggestions for strategies, ideas, and advice to make the tech sector more inclusive for all of us.

Ash Brown

Global Head of Bloomberg UX

“Celebrate women and people from underrepresented groups in tech’s successes publicly and often.”

Julio Nicolas Bueno

Software Engineering Diversity Recruiting Programs Lead

“Organizations need to focus on building equity into their interview experiences by being more transparent about their expectations throughout. When candidates have insight into the process, they can determine if they are confident and ready to move forward or need more time, support, or resources to prepare for the interview. As Bloomberg is super focused on engaging and recruiting more women through our campus relationships, sourcing, and philanthropy partnerships, we’ve set out on a mission to level the playing field by revolutionizing the way we recruit. We host programs and interview workshops focused on upskilling candidates’ problem solving and coding skills, as well as boosting their overall confidence.”

Parul Jalota

Head of ESG and Credit Risk Engineering

“Most have heard the familiar adage ‘Diversity is a mix and inclusion is making the mix work.’ When we talk about inclusion, it boils down to creating a work environment that allows every individual to feel valued. The key to being inclusive starts with building awareness, understanding the challenges people may be facing, and meeting them where they are at right now.

If you notice that someone is struggling – maybe they are not speaking up or they are being interrupted – you could be the person who can intervene to ensure that they are heard. Little acts of encouragement, such as providing positive feedback, advocating, and supporting women’s ideas, can go a long way in boosting women’s confidence in the workplace and allowing them to perform at their best.”

Eliza Jonauskyte

Software Engineering Team Lead, Asset & Investment Manager (AIM) Engineering

“We should all continuously revisit our biases and put effort into becoming more aware of things happening around us. We should seek to have more conversations where women can share their insights and experiences, and sponsor women around us when we can.”

Shifalika Kanwar

Senior Software Engineer, Enterprise Trading Network; Co-Chair, Distributed Systems Guild

“We can all make a difference by sharing knowledge and learning from one another. That means supporting different communities at work by lending an ear, amplifying an idea, or helping implement a solution. If you’re at the table, honor your privilege by using your voice to elevate others.

As engineers, we are trained to solve problems, so each one of us can and must find one concrete way to increase equity. Similar to how we collaborate on our technical projects, inclusion happens when all of us join forces and do the right thing.”

Philiy Lander

Organizational Coach, Product Development Experience (PDX)

“Large meetings or collaboration sessions can often be dominated by the loudest or most senior voice in the room, and this is a barrier to inclusive contribution. Simple facilitation can improve this scenario greatly, such as sending an agenda and information in advance, agreeing upon protocols that give all participants the same opportunity to interact in the conversation, breaking up into smaller working groups, or allocating a few minutes after describing a problem for silent writing time for people to organize their thoughts. Increasing meeting facilitation skills will enable more diversity of thought and increase inclusion, which will lead to the development of better, more innovative solutions.”

Aylin Turhan Orakcal

Software Engineering Manager, Portfolio Analytics

“By each of us taking personal accountability in cultivating an inclusive culture in the workplace, we can transform the tech industry to be more inclusive towards women. There are so many ways to take action and empower women in tech: become an ally, call out non-inclusive behavior, be a sponsor or a mentor, support communities, and simply be a champion for women in tech!”

Obioma Richardson

Project Analyst, SAP Order Management/Billing

“As a woman working in tech for more than 20 years, I would say it is important to provide more opportunities for women to speak about their career paths. Companies must promote the need for women in the tech space and also facilitate learning opportunities. Self doubt or a fear of failure – despite success at work – are still very real for many women, and one way to overcome this is by creating safe spaces for women in tech to grow and learn.”

Cristiana-Stefania Stan

Software Engineer, Feeds EMEA

“Be proactive and speak out as soon as you notice something that doesn’t look right. Don’t wait for others to be visibly affected by a situation, but rather address it on the spot. This way we can make sure everyone feels safe and empowered in their workplace.”

Eleanor Wieschaus

Head of Product Development Experience (PDX); Executive Sponsor, Bloomberg Women in Technology (BWIT)

“If you are responsible for any kind of leadership pipeline, consider it part of your job to ask about longer term leadership aspirations with every single person you meet with, not just those already on a clear path. Start with an open mind and then come back with a “next step” that the person can take on that journey. It will make you a better leader, and people will surprise you all the time.”