Month: August 2023

This article originally appeared on Fortune.com

Renu runs one of the millions of mom-and-pop stores, known as kiranas, located all over India. She wanted to expand her business, but as a cash-only operation, couldn’t show banks that she was a worthy investment. An initiative called Project Kirana, launched by Mastercard and its partners, helped Renu adopt digital payments, creating the formal transaction history that would show her business was booming.

Renu is one of the 25 million women entrepreneurs we’ve reached with business solutions since 2020, fulfilling a global pledge to bring greater opportunities to women who have been on the wrong side of the digital divide for too long. 

Measuring the number of women shop owners in India who went digital is the easy part. But how do you calculate the value of financially empowering a generation of women and creating role models for the generations to come? And more broadly, how do you measure any social impact project to show its economic benefits and that it reached its intended goals?

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Sappi follows the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard, also referred to as the Scope 3 Standard. The GHG Protocol divides Scope 3 emissions into 15 categories, and it is the reporting entity’s responsibility to determine which are significant for its operation.

These categories fall into two main streams: upstream (1–8) and downstream (9–15). In this case, “upstream” refers to emissions that occur before customers take ownership of Sappi’s products, whereas “downstream” includes emissions resulting from customers processing Sappi products and the final end-of-life treatment of the goods that Sappi’s customers produce.

In general, Scopes 1, 2 and upstream 3 are how our customers view and evaluate Sappi, whereas the combination of Scopes 1, 2 and 3—both upstream and downstream—is how the world evaluates the entire value chain.

Based on our review, we have concluded that due to the lack of control and the nature of the emissions of category 10 (processing of sold products), category 11 (use of sold products) and category 12 (end-of-life treatment), we will not focus on tracking those emissions. In total, downstream emissions (categories 9–15) are much less relevant to our evaluation and will not be tracked.

Also noted last year, much of the Scope 3 data is based on standard secondary emissions factors from publicly available databases, primarily the UK Department for Environment, Food and Rural Affairs (DEFRA), the US Environmental Protection Agency and ecoinvent, a nonprofit association that provides process data for products. Primary emissions factors are always preferred, as they are more accurate.

We remain committed to obtaining the most accurate emissions factors whenever possible from our suppliers and customers. In 2022, Sappi North America circulated its second vendor GHG survey to upgrade emissions factors and verify information required for emissions calculations. We look for added transparency each year from our supply chain partners.

As shown in the donut chart, the three most significant categories for Sappi are purchased goods (category 1), fuel- and energy-related activities (category 3), and upstream transport (category 4). These comprise approximately 98.5% of Scope 3 upstream emissions, based on data collected for fiscal 2022.

TARRYTOWN N.Y., August 21, 2023 /3BL/ – KeyBank and the Food Bank of the Hudson Valley announce a two-year grant from KeyBank Foundation, the non-profit charitable foundation of KeyBank, that will purchase and distribute 44,910 pounds of food per year to Poughkeepsie, Newburgh and Middletown NY residents. This equates to 37,000 healthy meals per year for needy individuals and families. KeyBank’s donation will help the Food Bank and their partner agencies address a 23% increase in the need for food since prior to the pandemic and an 11% since June of 2020.

“With this funding commitment KeyBank will make a very direct impact on feeding people in need and alleviating hunger in Poughkeepsie, Newburgh and Middletown. This is a tremendously thoughtful and meaningful contribution that will fill the shelves of food pantries and soup kitchens and go directly to children, families and others in need,” said Tom Nardacci, CEO of the Regional Food Bank of Northeastern New York “We are incredibly grateful for KeyBank’s long support and for this generous contribution.”

Food Bank of the Hudson Valley and the Regional Food Bank of Northeast New York work in partnership to alleviate hunger and prevent food waste by collecting large donations of edible but unmarketable food from the food industry and distributing it to 1,000 food pantries, soup kitchens and other charitable agencies in 23 counties of northeastern New York. Each year the Food Bank provides this network of agencies with more than 36 million pounds of food and other basic need items and helps feed 300,000 different people. KeyBank Foundation’s grant is directed to help feed food-insecure residents in the Poughkeepsie, Newburgh and Middletown communities served by KeyBank.

“At KeyBank, supporting the communities where we do business is at the core of our company’s culture,” said John Manginelli, KeyBank Hudson Valley/Metro New York Market President. “We are proud to support Food Bank of Hudson Valley and their partner agencies in their work to eliminate hunger and help provide basic needs to our most vulnerable neighbors.”

KeyBank Foundation grants are part of a $40 billion commitment for lending and investments across Key’s national footprint established in 2017 and supporting affordable housing and community development projects, home, and small business lending in low- and-moderate income communities, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.

KeyBank has 42 branches throughout the Hudson Valley, including branches in Poughkeepsie, Newburgh and Middletown.

About the Regional Food Bank of Northeastern New York

The Regional Food Bank of Northeastern New York is a 501(c)(3) not-for-profit organization that collects donated food from the food industry and distributes it to nearly 900 charitable agencies feeding the hungry in 23 counties of northeastern New York. The food provided by the Regional Food Bank helps to feed over 350,000 people each month. In 2022, the organization distributed 47 million pounds of food to our neighbors in need. The Regional Food Bank is a member of Feeding America, the national network of food banks. The organization is supported by foundations, private contributions, and fundraising events. For information on services offered by the Regional Food Bank, call (518) 786-3691 or visit www.regionalfoodbank.net.

About KeyBank Foundation: 

KeyBank Foundation serves to fulfill KeyBank’s purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation’s mission is advanced through three funding priorities – neighbors, education, and workforce – and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.

About KeyCorp 

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $195 billion as of June 30, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

Note to Editors: For up-to-date company information, media contacts and facts and figures about Key lines of business, visit our Media Newsroom at Key.com/newsroom.