Month: April 2023

ALSIP, Ill., April 11, 2023 /3BL Media/ – Griffith Foods is thrilled to announce that they have recently joined as members of the Plant Based Foods Association, the first and only U.S.-based trade organization supporting plant-based food companies.

The Plant Based Foods Association was founded in 2016 in conjunction with the acceleration of the plant-based foods industry. Today, the Plant Based Foods Association is composed of 350 members, consisting of diverse plant-based food companies such as ingredient suppliers, investors, and key stakeholders in the plant-based industry. The organization supports their members in meeting and exceeding growth goals and building a thriving market and prosperous future for plant-based foods.

Griffith Foods remains intentional about collaborating with early innovators in the alternative protein space to help pioneer the future of food. With over a century of industry expertise, comprehensive global insights, collaborative partnerships, and purpose-driven passion, Griffith Foods offers the innovation and guidance to create products that meet the needs of today’s consumers. With support from groups such as the Plant Based Foods Association, Griffith Foods can deliver the most delicious, nutritious, and sustainable plant-based food systems to nourish our growing planet.

To learn more about the Plant Based Foods Association, please visit https://www.plantbasedfoods.org/.

View original content here

The far-reaching effects of climate change touch every aspect of life, economy and even national security. With the growing challenges of climate change and Earth Day approaching, we’d like to invite you to a live discussion around Energy and Climate Policy. During the event Steve Ambrose, SAIC’s chief climate scientist and Pari Kasotia, senior director and head of policy for Distributed Solar Development (DSD) Renewables will discuss the impacts the Inflation Reduction Act  is having on our current and future generations.  

Join us and gain insights in: 

Cost, efficiency and incentives for using energy renewables State and Federal governments actions towards energy renewables such as wind and solar The Biden Administration’s Net Zero by 2050 goal Environmental justice and equity in climate change legislation 

We look forward to celebrating Earth Day with you! 

About SAIC

SAIC® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers’ missions.

We are approximately 25,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion , which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.7 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

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.

About the Authors

John Lin

John Lin is the Chief Investment Officer of China Equities. He has been the lead Portfolio Manager of China Equities since 2013 and is responsible for managing the China A Shares Value, China Net Zero Solutions, China Low Volatility and All China Equity Strategies. Lin is also a Portfolio Manager for Emerging Markets Value Equities since 2021. From 2008 to 2022, he served as a senior research analyst, responsible for covering financials, real estate and conglomerate companies in Hong Kong and China. Lin joined the firm in New York in 2006 as a research associate, covering consumer services companies for US Small & Mid-Cap Value Equities. Previously, he was a technology, media and telecom investment banker at Citigroup. Lin holds a BS (magna cum laude) in environmental engineering from Cornell University, and an MBA from the Wharton School at the University of Pennsylvania, where he earned the distinction Graduation with Honors. Location: Singapore

Lily Zheng

Lily Zheng is a Portfolio Manager for China Net Zero Solutions since 2022 and a Senior Research Analyst with a focus on consumer and utilities companies in Asia ex Japan, as well as auto companies in Asia. Before joining the firm in 2010, she spent three years as a management consultant with McKinsey & Company in Shanghai and worked for China Huadian Engineering Co. as an assistant project manager. Zheng holds a BS from Tsinghua University, an MS from the Chinese Academy of Sciences and an MA from Princeton University, all in thermal engineering, as well as an MBA from China Europe International Business School. Location: Hong Kong

As an organization that began as a small business, Gildan has grown over time into what it is today: a leading sustainable, ethical, and transparent apparel manufacturer, employing around 50,000 people in 12 different countries. This success has only been possible thanks to its people, and Gildan recognizes it by ensuring safe and ethical working conditions, upholding human rights and fair wages, creating an inclusive and welcoming work environment, and empowering employees with educational and learning opportunities.

“‘We believe in our people’ is one of our core values that runs deep at Gildan day in and day out,” says Arun Bajaj, Executive Vice-President, Chief Human Resources Officer and Legal Affairs. “So, it is only normal that we invest in our people because it is the right thing to do and the key to our success.”

One initiative that Gildan takes to ensure the well-being of its employees is to facilitate access to healthcare. The Company operates on-site medical clinics at its Honduras, Bangladesh, Nicaragua, and Dominican Republic operations where employees can conveniently consult healthcare professionals and receive medication, as well as some basic treatments at their workplace. This reduces some of the barriers to healthcare that employees may face in these regions. More importantly, it allows Gildan to give its employees the opportunities to lead and maintain healthier lives.

Gildan also actively invests in the education and training of its employees to drive development, through programs such as the Women in Leadership Program – Ignite Your Impact, which aims to empower women at the manager level and above to take their careers to the next level. This program provides training and opportunities to network with colleagues, Gildan leaders, and Board members. Programs like these drive greater satisfaction and engagement among employees, and ultimately set up the Company for success. The Women in Leadership program is a testament to this – 95% of graduates were satisfied with the program and many of them received promotions, or moved laterally, advancing their careers and contributing to the success of the organization.

“We are pleased with the work we have done so far and are determined to continue onward on this journey at the centre of which are our people, who are the greatest reflection of our success,” finishes Arun.

Find out more about Gildan’s Respect for People here.

Sappi North America is pleased to announce that Bakul Wadgaonkar has joined our team as Director of Sustainability. Bakul comes to Sappi with many years of experience in environmental health and safety, sustainability, manufacturing and quality management at Apple, Bose Corporation and DSM Coating Resins. 

She holds a master’s degree in mechanical/materials science and engineering from the University of Mississippi and a bachelor’s degree in polymer science engineering from Savitribai Phule Pune University in Maharashtra, India. A resident of the Boston area, Bakul first worked for DSM, a company that made powder coating and polyurethane coating, both types of polymeric coatings. At DSM, Bakul got involved in sustainability initiatives at the company, which is ranked No. 1 in the chemical sector on the Dow Jones Sustainability Index.

She then worked at Bose as Environmental Compliance Engineer III, where she was part of the team that banned phthalates, halogenated flame retardants and PVC from Bose products. At Apple, Bakul served in the Environment and Supply Chain Innovation Group, where she worked with global suppliers to assist with their sustainability-related initiatives, driving a more sustainable supply chain. With Bakul joining the Sappi team, we sat down recently to get her perspective on sustainability.

What attracted you to Sappi? 

Sappi’s direct dependence on renewable materials was an initial attraction. It seemed clear that if Sappi does not engage in sustainable practices, Sappi would cease to exist. That’s really what attracted me—sustainability is a core value for Sappi. I feel like that’s where I can apply what I’ve learned. The right next step for me is to work in an environment where sustainability as a value is part of the core business of the company.

How might you leverage your past experience here at Sappi?

At my prior companies, it was very global and diverse, very dynamic, and that’s where I learned the importance of not only doing sustainability yourself, but also empowering the supply chain to take on those same things. It’s been really interesting because the number of problems you come across in a global supply chain like that really teaches you a lot about sustainability and gives you a global perspective.

Another responsibility of directing sustainability efforts is to educate people and help them understand the long-term strategy. What I do is help people see your vision and get a buy-in so they collectively share that vision and work towards it. That is certainly the biggest skill a sustainability professional needs, other than the whole technical aspect of gathering the data, making sure that data is accurate—it’s reliable, it’s reproducible—and making sure that data is driving our decisions, that our decisions are grounded in reality. I think I can build relationships and bring those relationships and knowledge from other people back into our sustainability initiatives.