Sales & profit impacted by channel destocking while the Company is exercising inventory management through selective procurement of high margin products Second Quarter 2023 Highlights: Sales down 17% to $1,233 million (-12% in RMB terms; -15% in CER[1] terms), mainly reflecting 10%…
Month: August 2023
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Originally published on NRG Energy Insights
From our operations to our customers, sustainability is at the core of NRG Business. We have worked together, across functionalities, to develop a comprehensive sustainability framework, placing equal importance on decarbonizing our business and helping our customers — big and small — bridge the gap between traditional and renewable.
As Vice President of Sustainable Products and Innovation, I lead a team whose work is helping customers meet their goals and reduce their environmental impact. Expert, adaptable, and innovative, together we are leading the transition to a more sustainable future. I am proud to introduce the members of my team who seem to make anything possible.
Get to know me
Personally, I got my start right out of school as an analyst at an investment bank. My willingness and ability to learn new things helped me land my first role and has continued to be a core competency I have relied on throughout my career. Following this position, I had the opportunity to work at Enron for eight years and started a weather derivatives business, which works like an insurance policy against weather performance that could negatively impact business. I also started a sulfur dioxide + nitrogen oxides (SO2 + NOx) emissions trading desk, a market-based approach to controlling SO2 + NOx emissions. This kept me busy and stoked my passion for developing and implementing sustainable solutions.
In 2000, I left to co-found and serve as COO of XL Weather and Energy (a division of XL Capital Ltd.), a trading and insurance company based in Connecticut, before finally joining the team at NRG. Since 2012, I have led NRG’s sustainable products, renewables, innovation, and project management teams. I help run an incubator for growing businesses and early-stage opportunities within NRG Business, and my team is always working on new projects with the goal of enhancing our sustainability and renewables approach for customers.
Beyond the work, one of the reasons I have remained here for some time is the amazing team I get to work with every day. Together, we embody a culture that is collaborative and focused on education and sharing information. We try extremely hard to make sure that even the newest member of our team can understand, rather than using our own jargon. We also take the time to hear everyone’s perspective because oftentimes, it’s the newest teammate who brings the best idea to the table.
Work-life balance is something I have spent my life trying to perfect—especially as a mother of two daughters—and I encourage my team members to do the same. When I’m not in the office, I try to take time for myself by enjoying outdoor activities such as hiking, snowboarding, and gardening, and when it’s inevitably 100+ degrees in Houston, I’m probably inside on my Peloton or reading a good book.
My dream team
Our Sustainable Products and Innovation team is made up of four branches which come together to provide our customers with premier and innovative approaches to sustainability. Each group, within the larger team, is focused on their field of expertise, and when brought together they create a formative and multi-faceted foundation for sustainability at NRG Business.
Let me introduce you to each of the branches of our tree and highlight what they do.
Our Sustainability Advisory group, led by Greg Kandankulam, Director of Sustainability Advisory, educates customers on how to reach their sustainability goals by providing insight into their carbon footprint, helping them to decide the appropriate way for their company to buy/access renewable energy as well as the tools available for benchmarking and reporting. This team helps customers establish a solid strategy and make it easier to navigate the evolving clean energy landscape and improve business performance.Our Renewable Brokerage team, led by Miro Sutton, Head of Renewable Advisory, focuses on assisting Fortune 500 companies with virtual power purchase agreements, community solar portfolio origination and management, transferable tax credit financing solutions, distributed generation solutions, and long-term renewable energy credit purchases. This team supports our customers with the industry’s top talent and most innovative solutions. With over 2GW in recent transactions, the team continues to assist clients in an ongoing effort to maximize both ESG and financial benefits.Our Renewable Products team, led by Alan Cherkas, Senior Originator, focuses on Voluntary Market Carbon Offsets, Renewable Natural Gas (RNG), Producer Certified Natural Gas, Renewable Electricity (in Canadian Markets), and Hydrogen. Bernie Kinsella, Director of Origination – Environmental Products, heads up constructing and staffing our voluntary market carbon trading desk and supporting the Sales organization to market carbon offsets to NRG customers. This team is tasked with working with all necessary internal functions to commercialize the environmental products under development and to help train and support the Sales organization to educate our customers and prescribe the right products to meet their needs.Our New Product Innovation (Quantum) team, led by Lucas Spangler, Senior Manager of Commercialization and Schneider Otohwo, Manager of Product Strategy & Commercialization, is a cross-functional team working with Business Operations that focuses on bringing commercialized new products such as Renewable Energy Credits, Carbon Offsets, Renewable Natural Gas and Producer Certified Gas to market. They identify customer needs and market opportunities and collaborate with internal and external partners to design, develop, and launch innovative solutions that address sustainability challenges. This team also supports the scaling and adoption of these products across different regions and sectors, ensuring that they deliver value to our customers and stakeholders.
Our commitment to change
Our industry is at an inflection point and we have an opportunity to rethink what power can be. For NRG, customers are the driving factor pushing us forward with their sustainability goals. The ambition of our customers motivates the team to develop new and innovative sustainable solutions.
Paving a new path for the energy sector requires dedication to our customers, communities, and the environment we all share. I am proud of what my team’s work achieves and our shared commitment to propelling all of us toward a more sustainable future. I’ll let them share the reasons why they are passionate about the work we do.
“I am passionate about my work because I believe I am in a role at a company and industry in which I can truly make a difference. It is only through a clean, resilient, affordable grid that we will have the energy foundations that can support a more equitable future.” -Schneider Otohwo
“When I started my career, I found myself gravitating towards clean power – even before it was popular. To date, I have been part of nearly 6GW of projects, many of which would not have happened without my involvement. This gives me immense satisfaction and a sense of accomplishment in being able to make a positive impact in the world.” -Miro Sutton
“As an originator, It’s extremely rewarding to be able to help our suppliers advance projects that benefit the environment, while helping our customers achieve their own environmental objectives. It’s not always easy, but important work and every success is a stepping stone along the path to a more sustainable future.” -Alan Cherkas
“I want to help create a more sustainable and empowering energy ecosystem for our customers. With NRG’s position in the industry, we have the opportunity to lead by example for a cleaner and affordable energy future.” -Greg Kandankulam
“Small changes have big impacts. The size and scope of our customers can create significant effects by introducing one program or product. These products directly impact the planet and people. To me, that is making a difference.” -Lucas Spangler
This blog was written by Andre Heller, Program Director of Signpost. Signpost, is an International Rescue Committee (IRC)-led consortium project that creates digital information hubs to equip and empower clients in times of crisis.
This year’s World Humanitarian Day theme is “No Matter What” – a recognition that the humanitarian community strives to reach people in crisis with lifesaving assistance, regardless of the dangers or difficulties in making that happen. That tenacious spirit is both fitting and necessary this year. Since last August, long-standing humanitarian crises in places like Syria and Venezuela have not abated. At the same time, new crises have emerged or conditions have deteriorated to alarming extents in countries as far-flung as Afghanistan, Haiti, Niger and Sudan.
In the face of these mounting challenges, it is understandable to feel despair. But there are reasons to hope. People facing unimaginable difficulty constantly find new ways to persist, recover, and eventually thrive. The International Rescue Committee (IRC) sees their courage and resilience firsthand every day. And the humanitarian community that serves them, in partnership with donors and grassroots communities around the world, are developing new and more powerful ways to move humanity to a better place.
A powerful example of this is Signpost, an IRC-led consortium project that creates digital information hubs to equip and empower clients in times of crisis. Signpost platforms deliver critical information through local teams equipped with cutting-edge digital tools — providing communities with timely and actionable information. That information is vital for people to solve difficult and complex problems and make pivotal decisions on their course of action in times of crisis.
The correct information at the right time helps people understand big questions like: is it safe to flee the country? Am I eligible for a food program to support my family? Where can I find employment? Where to find the hospital that can help with a chronic illness? How do I enroll my children in a new school in a new city? Where can my family find shelter in a place that is safe from violence?
Signpost helps people approach these questions with up-to-date, accurate information. It is now active in 22 countries across five continents and plans to expand in the months and years ahead.
From the beginning, partnership has been a key element of Signpost’s power and success. Cisco’s support empowered the Signpost technology team to innovate and remove years of backlog. In just one year Signpost built the following technologies that helped exponentially grow the reach and impact of the program:
Service Map Rebuild
A low-code data management system for Service Mapping Officers across the globe to map service locations so our clients can better access the places they need. This tool can connect to chatbots, geospatial data, and manage real-time incoming information.
Universal Analytics Stack
A central hub where all Signpost data is securely stored to facilitate better targeting of humanitarian information and aid in humanitarian advocacy.
New Front End
A quick-deploy and centrally administered web-application deployed to over 10 countries. This template can function online and offline, and store critical information with a utilitarian approach.
In the past year of Cisco’s support, Signpost reached 32 million people, served 5.74 million users, with 131,830 unique two-way communications with clients, nearly doubling our impact numbers from all years (2015-2022) preceding. This support led to a 188% increase in reach, 187% increase in users, and 393% increase in two-way communications over last year’s annual count.
In recognition of Signpost’s success in connecting people in crisis with vital and vetted information, the United Nations recently awarded the project with a prestigious Sustainable Development Goal Action Award. There is no question that bold and innovative partnerships like Signpost have a huge role to play in helping the international community both reach the United Nations’ Sustainable Development goals and in helping the humanitarian community serve its clients more broadly.
To learn more about the International Rescue Committee (IRC) and its partnership with Cisco, as well as how you can support and donate, visit the Cisco Crisis Response page and IRC’s website.
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Joyce Tsoi, SAC’s Director of Collective Action Programs, participated in a conversation on “Making Carbon Finance Projects Work for Farmers” at the recent Better Cotton Conference. In addition to Tsoi, speakers included Maria Kjaer, Sustainable Livelihoods Manager for Better Cotton, Amelia Sidumo, Senior Regional Coordinator for Better Cotton, and Thomas Blackburn, Head of Business Development & Partnerships at SustainCERT.
At the conference, participants discussed the potential of carbon finance projects in the agricultural sector, with a specific focus on cotton production and how the industry can collaborate with farmers on successful projects.
Cotton producers face critical challenges related to climate change, including impacted germination and yield, deteriorating quality, and increased labor costs — to name a few. Because cotton farming communities can vary greatly in size and most reflect an extensive network of cooperatives, associations, and agribusinesses, organization of coordinated responses to these challenges can also be difficult.
However, collective action through data-backed solutions such as carbon financing can help build more resilient cotton farming communities and mitigate potential future damage to farming systems posed by extreme weather events such as droughts and floods.
To make these projects work, speakers explained, stakeholders must leverage expertise and data, as well as direct or indirect relationships with farming communities, to inform decision-making on purchasing and investments.
Speakers highlighted the need to move quickly on smart legislation, rather than delay in anticipation of a definitive data set. They also defined the need for traceability and verifiable data when setting climate mitigation targets and GHG accounting to meet regulatory compliance requirements, while acknowledging the complexity of communicating with consumers.
They discussed how the industry can collaborate on collective action with workers, such as developing insurance policies for climate adaptation, engaging the technology sector on improved mechanization for intercropping, improving conventional production, or supporting a just transition to organic and regenerative farming methods. Sharing costs for accessing and sharing data could involve roles for capital markets and governments.
Solutions raised included alternative irrigation systems, solar energy, and circular innovations to reduce carbon emissions, all of which have the potential to reduce overall costs, diversify incomes, and unlock access to premium markets. Finally, the speakers highlighted the potential impact on worker wellbeing, as well as ways that these projects could be designed to respect communities, such as trainings in local languages, technical capacity building, and including female workers.
The conference was well facilitated, with good Global South representation and room for diverse angles on solutions — such as analysis of whether and to what extent decreased production might be considered alongside climate adaptive practices. Speakers agreed that the need for primary data was paramount, and that traceability and impact measurement is critical in developing solutions. They were reminded to continually look outside of specific industries, learn from each other’s experiences, and share progress collectively to inspire others to take action.
LAUSANNE, Switzerland and SAN JOSE, Calif., August 30, 2023 /3BL/ – Logitech International (SIX: LOGN) (Nasdaq: LOGI) published its Fiscal Year 2023 Impact Report detailing the Company’s progress toward its sustainability commitments. Logitech is dedicated to removing more carbon than it produces, aiming to achieve climate positive by 2030. Since 2019, Logitech has reduced Scope 1 and 2 emissions by more than 56% and its carbon intensity has decreased by 74%. Scope 3 value chain emissions have reduced by more than 21% since 2021.
“As part of our long-term journey toward climate positivity, our 15th Impact Report illustrates how our teams, including our value chain partners, are making meaningful progress on lifecycle carbon reductions,” said Prakash Arunkundrum, chief operating officer at Logitech. “Our Design for Sustainability approach continues to scale, accelerating the transition to lower impact materials and circular alternatives across our product portfolio.”
Designing for Sustainability is a catalyst for reducing negative environmental impact and elevating social impact. Because sourcing materials and the manufacturing of Logitech products comprises 65% of the company’s entire carbon footprint, moving to renewable energy, partnering with suppliers, and focusing on removing and reducing hidden impacts early in the design process are critical to achieving the company’s climate goals. Highlights from this year’s report include the following:
Nearly two in three (2:3) products now use post consumer recycled plastic, lowering carbon and environmental impact across the portfolio.Over 50% of new products have FSCTM-certified packaging and 11% of all Logitech products use FSCTM-certified packaging, an initiative that not only supports the transition away from single-use plastic packaging, but ensures paper packaging is certified from responsibly managed sources.Logitech is transparent about its entire scope of impact and pledged to carbon label its products, holding itself accountable for reducing the entire scope of that impact. 42% of Logitech products shipped in 2022 had a product carbon footprint label compared to 17% in 2021.Logitech increasingly chooses materials made using renewable energy. 43 product lines use low carbon aluminum for lower carbon impact.Logitech facilities across the globe are powered by 94% renewable electricity and it is driving greater adoption of renewable energy within its supply chain with its renovated Renewable Electricity Buyer’s Program. Collaborative efforts with suppliers to match energy consumption with renewable electricity certificates led to over 75,000 tCO2 carbon savings.Logitech neutralized its entire carbon emissions across operations and its scope 3 value chain for the second year in a row.
“The programs across Logitech aim to advance the positive impact we can have on individuals, communities, and society,” said Kirsty Russell, head of people and culture at Logitech. “In particular, we have taken an accelerated approach to addressing the barriers that keep people from accessing inclusive technology. Creating programs that challenge existing stereotypes and enable all people to work, create, and play will make everyone successful.”
The company co-founded the Coalition for Gender Fair Procurement and adopted a new standard for gender equality in the procurement process by introducing Gender Fair’s Assessment Methodology.Logitech continues to elevate programs and products that promote equity and inclusivity in communities throughout the world. Logitech’s Aurora Product Collection and the Adaptive E-Sports Tournament were intentionally designed to challenge existing biases and stereotypes, enhancing inclusivity in gaming.
Logitech’s FY23 Impact Report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standard, recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD), and in alignment with the United Nations Global Compact (UNGC) and UN Sustainable Development Goals (SDGs).
More information on these and other sustainability accomplishments can be found in the FY23 full report. Learn more about all of Logitech’s sustainability initiatives and commitments on the website at Logitech.com/sustainability.
About Logitech
Logitech helps all people pursue their passions and is committed to doing so in a way that is good for people and the planet. We design hardware and software solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. Brands of Logitech include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones and Ultimate Ears.
Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @logitech.
Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A. and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com
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Editorial Contacts:
Marie Perriard, Head of Sustainability Communications – USA mperriard@logitech.com
Nicole Kenyon, Head of Global Corporate & Employee Communications – USA (510) 988-8553
Ben Starkie, Corporate Communications – Europe +41 (0) 79-292-3499
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