Month: May 2023

“Don’t fool yourself: billions more needed to protect tropical forests”, warns a Guardian headline.

Similarly, a recent We Mean Business study revealed that a $4.1 trillion finance gap for nature-based solutions must be bridged to achieve global climate goals. And on Earth Day, millions echoed the rallying cry: #InvestInOurPlanet.

Yet, 93% of companies are neither compensating nor reducing their climate impact: in other words, they are doing nothing to address climate change.

This needs to change.

Climate action requires integrity, innovation, and, most importantly, financing. This raises two questions: firstly, what mechanisms do we have for companies to fund climate action, especially in the window until 2030? And secondly, how can we ensure that the finance is producing the promised impact?

Catalysing climate solutions with the Voluntary Carbon Market (VCM) 

The VCM provides an effective means for companies to finance activities at a scale that drives the global transition to net zero emissions. And the potential is huge.

If 1,700 high-emitting companies invested just 10% of their emissions in nature-based projects, over $1 trillion could be mobilised by 2030. This finance can support local communities, landowners and NGOs to overcome one of the biggest challenges that they face: securing access to funding.

Why carbon markets you might be thinking to yourself? It’s not the only solution, but investments in land-based solutions are tricky, as they typically involve small and aggregated deals, currency risks and complex ownership structures. Carbon markets, however, treat communities, farmers and land-owners as business partners – as opposed to making a direct investment with an expected financial ROI. Importantly, carbon finance – via the purchase of certified credits traded on carbon markets – is payments for results: it provides a results-based way to finance the implementation of transformative practices that don’t necessarily yield large financial returns, but that lead to measurable positive environmental and social impacts.

Over the next seven years, the VCM could grow by 13X and reduce and remove up to 2.6 GT of GHG emissions. That would account for up to 5% of today’s global emissions.

Promoting effective and transparent use of carbon credits 

For genuine climate impact, companies must adhere to simple, high-level principles. South Pole published their Principles for Carbon Credit Use to support the many companies that want to invest in the planet, and in financing the global transition – but who don’t know how to do it in a credible way.

Set a science-aligned net zero target.Pay for all unavoidable GHG emissions today and on the pathway to net zero.Use high quality carbon credits.Companies should transparently communicate their use of carbon credits.

Delivering high-integrity climate solutions

The VCM ecosystem is made up of many different actors, such as project developers, project owners, landowners and independent auditors; industry bodies like the International Carbon Reduction and Offset Alliance (ICROA); and architecture, including certification standards and methodologies. While the VCM is not regulated, these actors underpin the market, create standardisation, uphold and continuously update robust principles, and ensure real and measurable impacts from projects operating within the VCM.

On top of purchasing projects from internationally-recognised certification standards, another hallmark of quality are the co-benefits a project delivers. Simply put, co-benefits are the impacts beyond carbon, for example boosting food security, protecting biodiversity, and helping create new sustainable livelihoods. They can also support women with becoming more independent and improve their access to basic services, like water, education and healthcare.

Both Verra and the Gold Standard, leading certification bodies in the voluntary carbon market, have designed much-needed tools and even new standards to measure and certify co-benefits in a more standardised way. Although there is still a way to go in terms of monitoring co-benefits, choosing projects with strong impacts beyond carbon ensures a company is contributing to enhancing local standards of living in the host country and therefore a just transition to net zero where no one is left behind.

Upholding integrity 

Integrity demands meeting high-quality standards in carbon accounting, additionality, social safeguards, project activities, and co-benefits. Standards and methodologies set ever-improving performance standards for the green revolution and provide infrastructure for the market. They are by design nimble and ready to adapt proactively and reactively as new technologies and learnings come into play. It is key that actors advocate for globally accepted, harmonised benchmarking methods, particularly for sensitive scopes like Nature-Based Solutions (NBS).

South Pole has talked extensively about both the complexity as well as the urgent need for REDD+ projects (here & here), which play a critical role in protecting forests, preserving biodiversity and securing irrecoverable carbon to deliver rapid emissions reductions at scale. The VCM architecture integrates baseline updates, technological advancements, and new learnings to evolve in tandem with best practices. This evolution is pushing the envelope of best-practice and it calls for companies to keep directing finance to communities at the forest frontier through the REDD+ mechanism; we can’t let perfection be the enemy of good.

“Each and every project goes through a public comment period for around 30 days, where anyone – regardless whether they are involved in the project or not – can comment. This amount of transparency and stakeholder inclusion is not there in many, if not any, other forms of climate finance” —Chetan Aggarwal, Manager Sustainable Standards and Methodologies, South Pole.

Fostering innovation for a sustainable future

For over 17 years, South Pole has pioneered and scaled various approaches to achieve true climate impact at scale. Some initiatives have offered valuable lessons, while others have led to significant carbon emission reductions and benefits for vulnerable communities. One recent achievement is the NextGen CDR Facility (NextGen), a joint venture between South Pole and Mitsubishi Corporation. It purchased close to 200K tonnes of CDRs from three projects, including the world’s largest technological carbon removal project, demonstrating tangible corporate interest for various CDR technologies that offer long term removal of CO2. These actions are helping to push CDRs over the vital tipping point for them to become readily available at affordable prices. 
 

Conclusion

As global crises intensify and climate change exacerbates the situation, urgent action is needed to reduce global emissions and revolutionise how we can do business within our planet’s limits. Today, more than ever, we are under tremendous pressure to unlock trillions to help businesses, communities, and governments transition to a safe, sustainable future. The VCM is one of the few means for businesses to take responsibility for their impact while they decarbonise, especially in the crucial years we have left until 2030.

Market mechanisms have tangibly demonstrated that they can be part of the solution to financing critical new climate technologies, recognising the value of ecosystem services, and putting a price on emissions. Used effectively, the VCM can deliver finance at scale that helps to move the dial on runaway climate change and ensure tangible, measurable benefits for the people and communities most at risk from climate crisis.

Committed to operating responsibility based on the highest standards of ethics and integrity, Bread Financial today announced that it has been included on Newsweek’s Most Trustworthy Companies in America 2023 list, ranking #20 among other companies in the financial services sector.

“Building trust is one of the most important priorities for any business, but also one of the easiest things for it to lose, which is why I am so proud to receive this third-party validation that represents our culture in action,” said Ralph Andretta, president and chief executive officer, Bread Financial. “We rebranded to Bread Financial just over a year ago, and our inclusion on Newsweek’s list is a noteworthy acknowledgment of our commitment to deliver best-in-class, value-added experiences that build trust and confidence.”

To determine the top 700 most trustworthy companies across 23 industries, Newsweek, in partnership with market research partner Statista Inc., evaluated a pool of 3,100 U.S.-headquartered companies with revenues over $500 million along with a sample of approximately 25,000 U.S. residents who rated companies on three pillars of trust: customer trust, investor trust and employee trust

“Empowering customers in a way that inspires confidence, satisfaction and trust in our brand is rooted in our responsible business practices,” said Dana Beckman, head of sustainability, Bread Financial.  “As we continue to adapt and respond to evolving consumer expectations, our purpose-driven approach and unwavering dedication to operating sustainably remains essential to earning and maintaining the trust of our diverse stakeholders.”

In January, Bread Financial also announced its inclusion on Newsweek’s Most Responsible Companies 2023 list. For more information on Bread Financial’s ESG strategy, visit its sustainability page or download the 2021 ESG Report.

IRVINE, Calif., May 12, 2023 /3BL Media/ – Today, the Taco Bell Foundation announced it is awarding more than $10 million in Live Más Scholarships – the most in the nonprofit’s history. The scholarships will be distributed to 980 students, ages 16-26, eager to ignite powerful change within their community and beyond. This year, the Taco Bell Foundation is giving $2.5 million to Taco Bell restaurant team members and $7.6 million to Taco Bell fans nationwide. Award amounts range from $5,000-$25,000 per recipient.

The Live Más Scholarship is a passion-based scholarship that gives students the tools and resources to boldly pursue their educational dreams. To qualify for the scholarship, applicants must submit a two-minute video describing their passion, a positive change they want to make in the world, and how their education will help them achieve that goal.

This year, the Taco Bell Foundation received its highest number of scholarship applications – nearly 14,000. Recipients include more than 300 fans of the brand, 150 Taco Bell restaurant team members, and over 500 renewal recipients through the Taco Bell Foundation’s renewal application, allowing applicants to renew their scholarships up to three times.

Scholarships awarded to Taco Bell fans are funded 100% by customers who participate in the Taco Bell Foundation’s Round Up fundraiser by rounding up to the nearest dollar, proving change can change lives. While team member scholarships are funded completely by donations from Taco Bell Corp. and Taco Bell Franchisees.

“The Live Más Scholarship is more than a check. It provides a community for these young scholars where they can learn from one another and grow outside of the classroom,” said Jennifer Bradbury, Executive Director of the Taco Bell Foundation. “The Live Más Scholarship opens a door of connections, opportunities, and programs to help students flourish in their passions.”

Check out the stories of two 2023 Live Más Scholars who will be using their scholarships to create a better world for us all:

King A.: King is a passionate animator who is currently studying Art and Business Marketing at the University of Nebraska-Lincoln (UNL). The son of Togolese immigrants, he hopes to one day open his own animation and art studio that will help first-generation American animators, like himself, succeed in the industry. King is a Taco Bell team member and learned about his scholarship during a surprise party at the Taco Bell where he works and where his dad is the Restaurant General Manager.Stacy E.: Born deaf in a Spanish-speaking household, Stacy quickly learned the challenges that come with language barriers. Over time and with the proper resources, Stacy learned American Sign Language and fell in love with Deaf Education. Stacy, now working on her Associate of Arts, is planning to continue her education at Stephen F. Austin State University to pursue a degree in Deaf and Hard of Hearing Studies. With this education, Stacy hopes to return to the classroom as a resource for deaf and hard of hearing youth in order to make a difference in their lives and educational journeys.

Live Más Scholars will have the opportunity to travel to San Diego, California, and attend the Live Más Scholarship Summer of Connection this July. The in-person conference is designed for attendees to cultivate the necessary skills and connections needed to boldly pursue their careers and make a difference in their community.

About Taco Bell Foundation
Taco Bell Foundation, Inc. is a 501(c)(3) public charity that helps America’s young people pursue their educational goals and career aspirations. Since 1992, the Taco Bell Foundation has reached more than 5 million young people across the country and has awarded $155 million in grants and scholarships, focused on education and career readiness. For more information about the Taco Bell Foundation, visit www.tacobellfoundation.org.

Originally published on TriplePundit

On a pleasant April weekend, several hundred people carrying bags and pushing strollers meander through the Tanger Outlets National Harbor. Three years ago, this bustling shopping center across the river from the nation’s capital was brought to a standstill, temporarily shuttered like many retail and business sites nationwide to prevent the spread of COVID-19. Although some public health protocols remain in place here, most signs of the worst pandemic in a century have disappeared.

Yet, even as Tanger Factory Outlet Centers Inc., the property’s North Carolina-based owner, has embraced the return to normalcy, it is one of thousands of real estate companies executing a new strategy to promote long-term wellness and safety: Making its buildings healthier.

Earlier this year, Tanger announced it achieved the International WELL Building Institute’s (IWBI) WELL Health-Safety Rating for its 36 North American shopping centers and its corporate headquarters. The designation, launched by IWBI during the pandemic and now used globally across more than 3.8 billion square feet of space, defines health leadership related to cleaning and sanitation, emergency preparedness, air and water quality, and other facilities management criteria.

In a statement, Leslie Swanson, Tanger’s executive vice president and chief operating officer, said the designation is helping the company “build confidence that all our facilities are a safe place for communities to gather,” by protecting the health of shoppers and store workers.

Like video conferencing and remote working, the shift to healthier buildings predates COVID-19 but intensified at the onset of the pandemic. According to research by the nonprofit Global Wellness Institute, the number of healthy buildings collectively certified by providers grew nearly five-fold from 2018 to mid-2021. IWBI, which offers a suite of health and wellness designations for buildings and companies, recorded a total of about 500 million square feet of registered or certified space through its first six years of operation. Since 2020, it has added an astonishing 4 billion square feet of new projects across its WELL offerings.

Real estate owners are driving demand for healthy buildings as they seek to retain tenants and strengthen leasing activity at a time when the pandemic still casts a long shadow on occupancy, said Wendy Feldman Block, executive managing director at Savills, a global real estate advisory firm.

By adding protections for occupant health, the WELL Health-Safety Rating “gives owners a path to get tenants back in the building, and gives tenants a path to get their workers back in,” she said. “Seeing the WELL seal makes you feel better about going into your building.”

IWBI now says it is enrolling an average of nearly 4 million square feet of projects per day, with active engagements with more than 20 percent of the Fortune 500. Those projects include retail destinations like Tanger outlet centers, the offices of corporate giants like Goldman Sachs, Accenture and EY, and iconic structures like the Empire State Building and Yankee Stadium.

The surge in demand for healthier space — though remarkable — isn’t a surprise, said Rachel Hodgdon, IWBI’s president and CEO.

“The primary purpose of buildings has always been to serve the needs of the people inside of them,” Hodgdon said. “The pandemic sharpened that focus.”

Americans on average spend about 90 percent of their lives indoors where they are at significantly greater risk of exposure to pollutants, according to the U.S. Environmental Protection Agency. Building construction codes in most U.S. states have long specified minimum ventilation requirements for clean air delivery to reduce pollutants and disease transmission, while real estate sustainability frameworks such as the U.S. Green Building Council’s LEED rating system and the International Living Future Institute’s Living Building Challenge began referencing certain health measures before IWBI’s launch in 2014.

But while the rationale for healthy buildings is well established, the real estate industry is racing to understand just how far the benefits extend.

A study published in late 2022 in the Journal of Building and Environment found that healthier buildings significantly improve worker satisfaction, wellness and productivity. Participants in the study, which analyzed the impact of WELL Certification using more than 1,300 pre- and post-occupancy survey responses, reported a nearly 30 percent post-certification improvement in overall satisfaction with their workplace, a 10 percent perceived improvement in mental health, a 10-point increase in median productivity, and a 26 percent perceived increase in wellbeing, including energy levels and motivation at work.

Those results add to a growing body of research linking healthier space to reduced employee absenteeism, improved cognitive function and lower healthcare costs for companies, as well as stronger real estate financial returns from rental premiums and longer lease terms.

The overall progress in creating and quantifying healthier space is validating, Feldman Block said. She was involved in 2017 in the world’s first lease to receive both WELL and LEED certification at the Platinum levels and remembers when talk of certifying a building as “healthy” was met with indifference.

“At the time, nobody was familiar with WELL,” she said. “Landlords, contractors and most architects — they’d never heard of it.”

Now, many property owners and occupiers with portfolios are budgeting for certification in what she calls a “widespread embrace” of health and wellness. “Landlords know they have to talk about what they’re doing to protect health and safety. They have to be competitive,” Feldman Block said.

She expects healthy building enrollment numbers to potentially recede from their peak as the real estate industry faces headwinds from inflation, permanent remote working and job cuts, especially in the tech sector. Microsoft, Amazon, Meta, Salesforce and Doordash are among the scores of companies to recently announce layoffs. Property owners are expecting to feel the impact as certain employers pull back on space needs.

But the long-term prognosis for healthy buildings remains excellent. IWBI has spent the past several years expanding its infrastructure and offerings, which now include a credentialing program for real estate professionals, Fannie Mae’s inclusion of WELL in it its Healthy Housing Rewards program, a dual-certification partnership with Enterprise Community Partners for affordable housing, and a workplace equity designation launched at the end of last year targeted at a broad swath of employers. It is also exploring a foray into the single-family housing market.

All of those initiatives are designed to accelerate the post-pandemic reach and impact of healthy buildings in a world that is projected to add as much new real estate space as currently exists in North America by 2030, Hodgdon said.

“If part of the legacy of COVID-19 is that it helped make buildings across the world healthier for people and better prepared for future public health emergencies,” she said, “that would be an excellent outcome.”

This article series is sponsored by the International WELL Building Institute (IWBI) and produced by the TriplePundit editorial team.

Image credit: R ARCHITECTURE/Unsplash

Originally Published on GoDaddy LinkedIn

A NEW ERA: 44% of businesses are started by Gen-Z & Millennials WHO RUN THE WORLD? 58% of new businesses are woman-owned

CELEBRATING DREAMERS: NATIONAL SMALL BUSINESS WEEK 2023

We’re celebrating National Small Business Week 2023 by championing small business owners who are making an impact with our tools and support. Here’s our first editorial celebrating Jane Malone. We’re beyond proud of her business Cursed Drawings, and for being an inspiration to neurodivergent dreamers everywhere.

She did it differently. Cincinnati’s Jane Malone has always been an artist – and a little different.

Her childhood dream was to become a fashion designer, opening her first “store” out of her closet to sell decorated paper towel holders and other goods. But her teenage experiences with autism and “derealization” symptoms made her want to give up on her dream. When she started doodling during her junior year at a Creative & Performing Arts high school, she found hope and peace in her situation. Sharing her blob-like creatures and silly captions helped Jane make her classmates smile – and feel less alone.

From Creepy doodles to Cursed Drawings

Jane told her parents she was taking a gap year before committing to college. She wanted to try pursuing her dream and selling her own clothes. GoDaddy’s Website Builder made it easy for her to build her first website and start selling all by herself, which gave her a boost of self-confidence as a brand new entrepreneur. Her confidence and skills continued to grow alongside her small business.

“It’s impossible to fail when you’re doing what love.”  
-JANE MALONE

NEURODIVERGENT ENTREPRENEURS CAN DO ANYTHING NEUROTYPICAL ENTREPRENEURS CAN DO – THEY JUST MIGHT HAVE TO DO IT DIFFERENTLY.

Jane hopes her story inspires other neurodivergent dreamers and artists to turn their intrusive thoughts into inspired creations. Just because you exist in a “dream state” doesn’t mean you can’t pursue your “dream life”.

Want to support Jane’s small business? Shop Cursed Drawings: curseddrawings.com

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person. GoDaddy’s easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.GoDaddy.com.

In celebration of National Teacher Appreciation Week, May 8 – 12, 2023, and National Nurses Week, May 6 – 12, 2023, the LA Kings teamed up with Melissa’s Produce and SuperFd to show their gratitude to Los Angeles-based teachers and nurses by delivering fresh food and gifts.

On May 9, 2023, the LA Kings Ice Crew and Melissa’s Produce delivered balloons, fresh fruit baskets and lunch bags to all the teachers at the Los Angeles Elementary School. Additionally, on May 11, the LA Kings Hockey Development Team hosted a ball hockey clinic for the school’s students.

Separately on May 9, the LA Kings, SuperFd and Melissa’s Produce delivered food, t-shirts and personalized thank you cards from the LA Kings fans and staff to the nursing team at Children’s Hospital Los Angeles’ Blood Donor Center and the Neurology Unit.

“Both educators and healthcare providers give so much to support the community here in Los Angeles,” said Jennifer Pope, SVP, Community Relations and Hockey Development, LA Kings. “The selfless contributions of these individuals truly make a difference. The LA Kings are so proud to recognize and celebrate them during this time.”

To learn more about the LA Kings and the organization’s community programs, please click here.