International Olympic Committee news

In less than a year, the world will gather for the Olympic Games Paris 2024.

We live in a turbulent, polarised world, and uniting people around sport, above political and social divisions, is needed more than ever.

At the same time, with climate change on the rise, the footprint of the Olympic Games is a valid concern which needs to be addressed. 

The Olympic and Paralympic Games Paris 2024 are stepping up to this challenge more than any Games before. And they are doing so by focusing first and foremost on reducing emissions.

The Paris 2024 Organising Committee plans to halve carbon emissions compared to the average of London 2012 and Rio 2016. This target reflects both the IOC’s Olympic Agenda 2020+5 and the Paris Agreement on Climate Change, which world governments signed in 2015.

Going forward, this focus on carbon reduction will become a contractual requirement for all Olympic hosts. From 2030, the Olympic Host Contract sets binding requirements to minimise direct, as well as indirect, carbon emissions. The same contract also obliges Games organisers to encourage stakeholders to take action against climate change.

In line with the IOC’s philosophy of lower-impact Games that adapt to the needs of the host cities and their residents, Paris 2024 is minimising new construction. Some 95 per cent of venues will be pre-existing facilities – refurbished and modernised, where necessary – or temporary structures. The venues have been specifically chosen so they can be accessed by public transport.

Paris 2024 is also setting new sustainability standards for major sporting events by encouraging energy conservation, innovation and creativity. These will be Olympic Games of a new era.

The Olympic and Paralympic Games will be powered by 100 per cent renewable energy – mainly clean electricity, but also biogas. All sites will be connected to the grid by network operator Enedis and supplied by EDF with renewable electricity sourced from wind and solar farms. Avoiding the use of diesel generators has made it possible to reduce the equivalent of 13,000 tonnes of carbon emissions. These solutions will remain in place after the Games, allowing other events, in sport and beyond, to reduce their emissions too.

Organisers have also reinvented the way sports events do catering, and pledge to serve 13 million meals and snacks in a more sustainable manner. The target is an average of 1kg of CO2 per meal, compared with the 2.3kg French average. Some 80 per cent of ingredients will be French, and at least 30 per cent organic. The amount of plant-based products will be doubled, while that of single-use plastic will be cut in half. 

And while there are currently no solutions to fully eliminate the carbon footprint of large events, Paris 2024 is showing how this can be reduced, setting a clear pathway on how to bring the world together, in a much more sustainable way.

With their mesmerising visibility, the Games already serve as an incubator for sustainable solutions that can be applied and further mainstreamed by sporting events around the world.

It’s fun to be a challenger—to spark innovation, invite change, operate sustainably. VMware customers see possibility where others see problems, transform obstacle into opportunity, face difficulty with determination. VMware customers challenge expectations.

Seizing opportunity at the 5G edge

The telco industry is poised to seize the tremendous potential of 5G technology—unprecedented levels of connectivity, ultra-dependable low-latency, and efficient energy use, including exponentially greater connection density and the capability to support mind-boggling levels of network traffic. But the eventual market leaders may not be the traditional heavyweights. Up-and-comers are making their mark on the market in a big way.

The smallest wireless provider in Norway—with a workforce of fewer than 300 people—is one of these upstarts, daring to compete against the country’s two market leaders. Less intrepid entrants might take one look at this scenario and walk away. Not Ice Norway. Since signing its first customer in 2015, the company now serves more than 700,000 customers. This rising star carved out a market by building its own 5G platform. To support its operations, the company developed a multi-cloud infrastructure incorporating telco, AWS and Azure cloud and on-premises resources, all supported by VMware Cloud Foundation. By creating a shared, flexible, scalable infrastructure across multiple environments—managed by only two people—this high-flying wireless challenger is edging to lead in the wireless market in Norway.

Setting the green standard for high-tech agriculture

Anyone who grows basil on a windowsill knows the challenge of keeping one small plant alive and thriving. But keeping millions of growing plants healthy, productive and producing a year-round harvest demands careful orchestration. An innovative greenhouse grower of cucumbers, peppers and tomatoes, Nature Fresh Farms harnessed an extensive suite of VMware technologies—VMware Horizon, Workspace ONE, SD-WAN, Edge Network Intelligence, vSphere and Carbon Black Cloud—to unite geographically dispersed operations and a workforce distributed across three countries.

“We have to monitor, in real time, about 1.7 million plants,” says Keith Bradley, Vice President of IT and Security, Nature Fresh Farms, “and each of those we control at the micro level, down to the milliliter of water, and any time that process is disrupted, it affects our growing cycle, and our quality.” By maximizing every square inch of its operations, Nature Fresh Farms has set the green standard for sustainable, climate-controlled farming. “We use technology to know exactly how produce is doing, from the time it’s picked from the vine, to when it needs to be packaged, and how quickly we can get it to your store.”

“We want to ensure our produce is the highest quality, freshest and most flavorful,” says Bradley. “And as odd as it may sound, we use technology to do just that. With these technologies, we have improved our farm-to-fork time, giving you a better pepper that tastes better and lasts longer.”

Rolling forward with sustainable purpose

At Quality Bicycle Products—known by fans as QBP—everything revolves around one gutsy phrase: “Every butt on a bike.” QBP aims to get everyone rolling. “We think the bike is a method of transport everyone should use,” says Joe Van Ert, systems architect, QBP. “And your local bike shop is our number one customer.”

A Certified B Corporation since 2021, the company’s core values advance sustainability and bicycling communities. “At QBP, we aim to be the common thread that weaves together retailers, suppliers, industry partners and riders,” says Van Ert. “All our warehouses and distribution centers use solar power,” says Van Ert. “Domestic operations are currently 52 percent solar powered and will reach 100 percent by 2029. All our distribution centers are electrified—we use no gas. And our main facility is a Gold LEED certified building, with all materials responsibly sourced.”

QBP walks the talk and encourages employees to do the same. “We pay our employees to bike to work—six bucks a day—and pay them to do errands by bike, both at work and at home,” says Seth Nesselhuf, director of Corporate Social Responsibility, QBP. “The folks who design the bikes ride the bikes. Our proprietary products allow us to engineer sustainable materials into every part of our manufacturing.”

As an environmentally conscious company, vendor flexibility allows QBP to align with vendors with genuine green commitments. “If a company we’re working with doesn’t have a carbon neutral policy, or they’re not making efforts in that direction, we want the ability to move,” says Van Ert. “As a Certified B Corporation, we don’t want that tarnishing our record. That’s one reason we chose VMware.”

Confronting challenges courageously

With its ancient history of dairying, India understands milk. And nowhere is this expertise more evident than at Chitale Dairy, one of the country’s most respected brands. The family-owned company traces its roots to 1939, with a family-owned local operation that now, seven decades later, comprises a network of state-of-the-art facilities processing half a million liters of milk a day.

Chitale Dairy eagerly embraced technology from its earliest beginnings. Adopting modern dairy processing technology enabled the company to qualify for one of India’s earliest ISO certifications for food science management. And its “cows to cloud” solution, developed in concert with VMware and Dell Technologies, uses IoT solutions to help farmers improve the health and productivity of cattle.

“We use technology to help farmers become more efficient and productive,” says Vishvas Chitale. “By monitoring the health and reproductive cycles of the animals we can help our farmers maintain their economic viability.”

The company’s ongoing commitment to innovation emerged in a big way during the COVID-19 pandemic when lockdowns prevented consumers from visiting newly shuttered shops. Chitale Dairy redesigned operations to include a business-to-consumer delivery model. Shifting to direct-to-consumer delivery rapidly and at scale might have discouraged some, but this company confronts challenges courageously. “If you are not agile enough to provide modern apps to consumers,” says Chitale, “you’ll be out of business in a short span of time. With VMware, we have progressed quickly on that journey, and transforming our software has helped us become a more agile business moving in the direction consumers want.”

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What You Need to Know

Biodiversity is taking on increasing importance as a consumer concern, but it isn’t always top of mind for investors. We think that could soon change. Beyond the obvious environmental benefits, there’s an economic case to be made for protecting biodiversity. New, innovative technologies are disrupting age-old systems that are both lower-yielding and environmentally destructive. We believe the next wave of innovation will be fueled by secular growth trends that could reshape the way we think about the world’s ecosystems. Ultimately, we believe protecting and maintaining biodiversity is an attractive financial proposition for growers, consumers and investors alike.

VIEW PDF—NON-US INVESTORS

90%

Percentage of global deforestation attributable to farmland expansion.

$824 Billion

Annual amount required to bridge current funding levels with what’s needed to reverse biodiversity loss.

10 Billion

Earth’s projected human population by 2050.

Author

Joseph Sun, CFA| Senior Research Analyst—Sustainable Thematic Equities

Just outside Gibson City, Illinois, a modern-day farmer named Greg is tasked with the responsibility of helping to feed America. Back when Greg’s father managed their farm, it took a full day to harvest just one bushel of corn by hand. Over the years, the introduction of innovative farm tools and equipment significantly enhanced production speed and efficiency, and when Greg eventually took over the farm, he benefited from the improved machinery and industrial chemicals. As a result, the farm’s yield and productivity experienced exponential growth.

But as Greg transitions the family’s assets to his son, their multigenerational farm faces the global challenge of biodiversity loss. Across the North American corn belt and beyond, a decline in soil health from years of excessive agrochemicals has impaired growers’ ability to deliver higher yields to feed the world’s expanding population.

Greg’s story highlights the power of technology in addressing farm productivity. But technology can also help us understand the dangerous loss of biodiversity in the ground beneath our feet—the very soil that feeds the world. Across every industry, we must look to technology to solve the challenges of declining marginal yields and the loss of ecosystem services.

As biodiversity awareness grows, companies that provide effective solutions to biodiversity loss are enjoying substantial growth potential. When science and industry combine to address sustainable development issues, exciting opportunities arise for investors. In recent decades, we’ve seen the decoding of the human genome open new markets in biotech and pharmaceuticals. Today, the nascent synthetic biology revolution is building on those developments to create new products in areas ranging from consumer goods to industrials. We’re now on the cusp of a new agricultural revolution that can harness the power of science to address these invisible threats to human sustenance.

It’s not too soon for investors to start discovering the opportunities that can be created by addressing the growing biodiversity funding gap. The market could be sizable. By some estimates, more than $800 billion annually will be required to bridge current funding levels with what’s needed to reverse biodiversity loss (Display). That could add up to roughly $8 trillion by 2030.

Past performance, historical and current analyses, and expectations do not guarantee future results.

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. Views are subject to revision over time.

Learn more about AB’s approach to responsibility here

Funding will help 25 nonprofits and organizations increase their capacity to serve Hoosier families impacted by food insecurity

PLAINFIELD, Ind., Aug. 1, 2023 /3BL/ – The Duke Energy Foundation is awarding more than $200,000 in grants to local food pantries and community organizations to feed Hoosier families in need. The grants will support the purchase of canned goods, fresh produce and essential supplies to address food insecurity across the company’s Indiana service territory.

“Too many Hoosiers struggle with economic instability and food insecurity,” said Stan Pinegar, president of Duke Energy Indiana. “When people don’t have enough food to meet their needs or are uncertain of where their next meal might come from, it weighs heavily on families and communities. With these funds, we hope to curb the number of Indiana families experiencing hunger and support local organizations extending a helping hand to their neighbors in need.”

The Center for Lay Ministries is the recipient of a $6,000 Duke Energy Foundation grant to support Clark County, Ind., residents who struggle with food insecurity. Each month, the nonprofit organization provides food for more than 1,100 individuals and their families.

“These funds will allow us to meet the increased needs of local families this summer while kids are home from school and food costs are rising,” said Kara Brown, executive director of the Center for Lay Ministries. “The support of partners like Duke Energy is instrumental in helping us continue to serve our clients with compassion, dignity and respect.”

Grants were awarded to the following organizations:

Anchor House (Jackson County) – $5,000 
 Center for Lay Ministries (Clark County) – $6,000 
 Clay County YMCA (Clay County) – $7,000 
 Food Finders Food Bank (Benton, Carroll, Cass, Fountain, Fulton, Howard, Miami, Montgomery, Tippecanoe, Tipton and Warren counties) – $29,000 
 Gleaners Food Bank of Indiana (Statewide) – $10,000 
 Good Samaritan Network of Hamilton County (Hamilton County) – $10,000 
 Hendricks County Food Pantry Coalition (Hendricks County) – $5,000 
 Henry County Community Foundation (Henry County) – $5,000 
 Hoosier Hills Food Bank (Brown, Lawrence, Martin, Monroe, Orange and Owen counties) – $22,000 
 Hope Center (Fayette County) – $5,000 
 Hope Southern Indiana (Floyd County) – $6,000 
 Knox County United Way (Knox County) – $12,000 
 The Princeton Salvation Army (Gibson County) – $10,000 
 Putnam County Emergency Food Pantry (Putnam County) – $5,000 
 The Rescue Mission (Huntington, Kosciusko and Whitley counties) – $5,000 
 The Salvation Army of Southern Indiana (Clark, Crawford, Floyd, Harrison, Scott and Washington counties) – $10,000 
 Second Harvest Food Bank of East Central Indiana (Blackford, Delaware, Grant, Henry, Jay, Madison, Randolph and Wabash counties) – $3,000 
 Shelby County Boys & Girls Club (Shelby County) – $10,000 
 South Madison Community Food Pantry (Madison County) – $2,500 
 United Way of Bartholomew County (Bartholomew County) – $12,000 
 United Way of Clinton County (Clinton County) – $7,000 
 West Vigo Community Center (Vigo County) – $5,000 
 Western Indiana Community Foundation (Vermillion County) – $5,000 
 Westfield Washington Schools (Hamilton County) – $15,000 
 YMCA of Morgan County (Morgan County) – $7,000

Duke Energy Foundation

The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $2 million annually in charitable gifts to Indiana and is funded by Duke Energy shareholders. More information about the Foundation can be found at duke-energy.com/foundation.

Duke Energy Indiana

Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 890,000 customers in a 23,000-square-mile service area, making it Indiana’s largest electric supplier.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,600 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2023 “World’s Most Admired Companies” list and Forbes’ “World’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Contact: McKenzie Barbknecht 
24-Hour: 800.559.3853

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Added 20,400 customers in Q2, entering Q3 with backlog of 20,000 retrofit customers and 39,000 New Homes customers  Increased GAAP Revenue 11% year-over-year   Reported Q2 GAAP Net Loss of ($30) million, Adjusted EBITDA of ($3) million  Previously announced updated Guidance to reflect…

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