Month: May 2023

No one should have to choose between food and safety.

But that’s the choice vulnerable people often face when it comes to spending limited resources—they quite often have to make decisions between stocking the fridge, and ensuring their homes have working life safety devices like carbon monoxide and smoke alarms.

To support vulnerable residents in southwestern Ontario, the London Fire Department distributed 600 combination smoke and carbon monoxide alarms in 2022 to homes in need, including to older adults, persons with disabilities and low-income households.

The alarms were provided through Safe Community Project Zero, an annual Enbridge Gas public education campaign delivered in partnership with the Fire Marshal’s Public Fire Safety Council (FMPFSC) to promote the installation of smoke and carbon monoxide alarms in homes in Ontario communities where Enbridge operates. Always committed to safety first, Enbridge Gas developed the program to bring fire and carbon monoxide-related deaths down to zero.

Coincidentally, the London fire department responded to a carbon monoxide call the night before the January 2022 event held to announce the distribution of the combination smoke and carbon monoxide alarms. It was a timely reminder of the importance of these life-saving devices to help keep families safe.

Safety is the foundation of everything we do at Enbridge. We put safety first in our work and operations, and we help bolster safety in the communities where we operate through programs like our Safe Community First Responder Program. In 2022, Project Zero distributed 8,000 combination alarms to residents in 50 Ontario municipalities. Since the project’s founding in 2009, more than 76,000 alarms have been provided to keep families safe.

“Evidence shows that prevention saves lives,” says Chris Doig, the Eastern Region Operations Supervisor for Enbridge Gas. Doig notes that the best way to avoid carbon monoxide exposure is to properly maintain fuel-burning equipment, such as propane stoves and natural gas or wood fireplaces.

“Alarms are a critical second line of defence to protect against carbon monoxide poisoning,” he explains. “Carbon monoxide is known as the ‘silent killer’ for a reason,” he adds.

Safe Community Project Zero is one of two of Enbridge Gas’ fire and carbon monoxide safety initiatives in Ontario. The second is Safe Community Project Assist, which supplements existing training for Ontario volunteer and composite fire departments in the communities where Enbridge Gas operates.

“Firefighting can be dangerous and unpredictable,” says Jon Pegg, Ontario Fire Marshal and Chair of the FMPFSC. “These training materials positively contribute to the health and safety of firefighters and the broader community.”

Through Safe Community Project Zero and Safe Community Project Assist, we renew our shared commitment to a relentless focus on safety every day—to keep our loved ones and communities safe.

Bill Nye, Billy Porter, Charlie Puth, Connie Britton, and Danai Gurira join Hugh Jackman, John Legend, Priyanka Chopra Jonas, Rachel Brosnahan and Usher and others as Global Citizen Ambassadors to Inspire Change and Action for a World Free from Extreme Poverty 

NEW YORK, May 18, 2023 /3BL Media/ – Today Global Citizen, the world’s leading international advocacy organization on a mission to end extreme poverty NOW, announced their newest lineup of ambassadors. Luminaries including Bill Nye, Billy Porter, Charlie Puth, Connie Britton, and Danai Gurira will join the international advocacy organization alongside long-term Ambassadors, including Hugh Jackman, Priyanka Chopra Jonas, Usher, John Legend, Rachel Brosnahan and  others, to inspire their fans to take action and leverage their voices for a world free from extreme poverty — achieving impactful and lasting results.

Over the past decade, Global Citizen has worked with artists and entertainers to launch and support campaigns to end extreme poverty, call on world leaders to take action, and bring global citizens around the world together to create real change. From supporting the Global Fund to Fight AIDS, Tuberculosis, and Malaria, to mobilizing critical funds to equitably distribute COVID-19 testing, treatments, and vaccines, to breaking down barriers to girls’ education, to fighting against climate change, Global Citizen Artist Ambassadors use their voice and platform to engage their fans to take action and call attention to critical global issues in order to yield tangible impact and results. 

“The ongoing commitment of Global Citizen’s Artist Ambassadors and Advocates has been integral to the growth and impact of our movement, and we’re thrilled to introduce Bill Nye, Billy Porter, Charlie Puth, Connie Britton, and Danai Gurira as our newest ambassadors,” said Katie Hill, Senior Vice President of Music, Entertainment & Artist Relations at Global Citizen. “The most pressing issues facing our planet – like climate change, equity for girls and women, and the global food crisis – require drastic action and immediate change. We look forward to continuing our partnership with these ambassadors to grow our community of global citizens, drive action and impact, and show people around the world how taking action can make a difference.” 

“I look forward to continuing my work with Global Citizen and doing what I can to help amplify their important work around the world,” said Connie Britton. “For years Global Citizen has been at the forefront of some of the most important and life changing advocacy and so, along with my fellow Ambassadors, I hope to help inspire people around the globe to join us in taking action to eradicate poverty and protect our planet for future generations.”

“I’ve enjoyed working with Global Citizen over the years, and I’m honored to be one of their new Ambassadors,” said Charlie Puth. “I love playing music for my fans and now we get to work together to change the world – I couldn’t be more excited. We must take action to end extreme poverty and protect our planet.” 

These new ambassadors join Global Citizen in time for their latest campaign, Power Our Planet: Act Today. Save Tomorrow, which is a global effort to mobilize critical financing for developing countries to fight climate change and extreme poverty. Power Our Planet will galvanize millions of global citizens around the world to take action, raise their voices and call on world leaders to demand urgent global financial reform to free up the funds needed to build a sustainable, equitable, and just world. 

Further details on the Global Citizen Ambassadors and program can be found here. 

About Global Citizen 

Global Citizen is the world’s leading international advocacy organization on a mission to end extreme poverty NOW. Powered by a worldwide community of everyday activists raising their voices and taking action, the movement is amplified by campaigns and events that convene leaders in music, entertainment, public policy, media, philanthropy and the corporate sector. Over the past 10 years, $43.6 billion in commitments announced on Global Citizen platforms has been deployed, impacting nearly 1.3 billion lives. Established in Australia in 2008, Global Citizen’s team operates from New York, Los Angeles, London, Paris, Berlin, Melbourne, Toronto, Johannesburg, Lagos and beyond. Join the movement at globalcitizen.org, download the Global Citizen app, and follow Global Citizen on Facebook, Instagram, LinkedIn, TikTok and Twitter.

Contact

Global Citizen media inquiries: media@globalcitizen.org

Kent Hargis, PhD| Co-Chief Investment Officer—Strategic Core Equities

David Wheeler, CFA| Portfolio Manager—Sustainable Climate Solutions; Senior Research Analyst—Sustainable Thematic Equities

Teresa Keane| Managing Director—Equities

Stock selection in a climate investing strategy takes more than just avoiding companies exposed to global warming risks. The process should intersect with an active search for diverse opportunities among companies helping to fight climate change, but with high-quality business models, too.

Concerns and action to stem global warming are decades in the making, although efforts have increased in recent years. The German city of Freiburg, for instance, pioneered the move to solar power in the 1980s and is quickly approaching its goal to nearly halve its greenhouse gas emissions by 2030. Freiburg’s early awareness is uncommon, however, and many economies and industries today are just waking up to climate-related risks.

Climate Risks Are High but There’s Still Time to Act

Europe experienced its second-hottest year on record in 2022; globally it was the fifth warmest. Against this backdrop, the UN’s environmental experts intensified demands to fast-track climate-fighting efforts by “every country and every sector on every timeframe.”

On a positive note, the same UN report underscored that it’s not too late. First, the widely adopted goal to limit annual rising temperatures to 1.5 degrees Celsius by 2030 is still within reach. And by mobilizing funds and sharing best practices, technology and effective policy measures, any entity can better manage, even prevent, carbon output.

More top-down support via government initiatives is helping, too, and the incentive is clear; research shows that climate change can strain or benefit economic output to the tune of –8% to 15% annually, depending on how governments and industries respond.

At last year’s UN COP27 conference, for example, delegates agreed to establish a multinational financial backstop for loss and damage, ideally to help poorer countries recover from climate-related impact. The US Inflation Reduction Act and the pending European Green Deal include well-funded incentives to shepherd economies toward low-carbon mode. China, arguably a top greenhouse gas producer, is also on board. Its 2060 carbon-neutral framework, while addressing climate change, also reveals its vision for the country’s economic future in light of it.

Many Industries Benefit From Climate-Related Economic Drivers

Combatting climate change goes deeper than macroeconomic policies. A growing number of industries, from electric vehicles to wind farms, are also on the front lines of a decarbonizing economy—and all are growing at a faster rate than the US economy (Display).

These are the innovative companies that will lead the way with climate-transition-specific business models, as well as products and services that enable the achievement of global decarbonization. And we expect they’ll enjoy multi-decade growth potential as a result.

Understandably, investors remain wary of today’s uncertain macro environment, mainly rising interest rates and high inflation. Clearly, these disruptors are factors in the investment selection process, too, but should be integrated right alongside climate risks—not in sequence—to find businesses likely to do well in the new economy.

Climate Solutions Are an Appealing Investment Factor

The growth potential among companies providing climate solutions is making a strong impression with investors. In 2022, for example, global investment in energy-transition products and services, such as renewable energy, electric vehicles, energy efficiency and hydrogen, reached a record $1.1 trillion, a 31% increase from the prior year (Display). China is by far the largest contributor to the growth, accounting for about half of all investment. More important, the recent groundswell put energy-transition investment levels on an even keel with fossil fuels for the first time. By the end of this decade, we anticipate investment in decarbonization products will dwarf spending on fossil fuels by at least four-fold.

The growing commitment to global carbon-reduction goals extends well beyond climate-friendly industries. More companies than ever are signaling support for science-based greenhouse gas reduction targets, particularly in the consumer discretionary, information technology and industrials sectors (Display).

This momentum is fostering a healthy competitiveness among innovative climate-resilient and climate-focused businesses, offering attractive growth opportunities. Companies such as AECOM, based in Dallas, Texas, offer consulting for carbon-intensive industries like transportation and construction that can help deliver aggressive emissions-reduction goals, up to 50% for most projects. Hexcel, based in Stamford, Connecticut, makes lightweight carbon fiber used in airplane construction that saves fuel and cuts airline annual greenhouse gas emissions by the tonnes. Norway-based recycling firm TOMRA continues to benefit from an expanding global commitment to reusable plastic in manufacturing, retail and food packaging.

Climate Resilience Also Needs Strong Fundamentals

A company’s climate resiliency also stems from the quality of its business model, so investors should focus on both. Besides navigating the near-term impact of climate change, companies need to plan their long-term contribution, and profitability, in a low-carbon economy. In our view, strong balance sheets and effective governance are as important to active climate investing as other equity strategies. It’s not enough to mitigate the financial impact of climate change; companies must demonstrate solid bottom-up fundamentals and top-down vision to benefit from current and future opportunities in the transition to a decarbonized world.

The global population will swell to 10 billion by 2050, so our worldwide Freiburg moment is now. Innovation is more important than ever to improve the environment, ensure clean water and produce enough safe food. That’s why holistically integrating the risks and opportunities in today’s economy is the linchpin of an effective climate strategy. Companies that can find their niche in this massive effort will prosper, providing they can mitigate today’s risks while setting the groundwork for future profitability. Climate investment solutions should focus on both sides of that equation.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AllianceBernstein 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.

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