Month: February 2024

Unsustainable land-use practices, including expansive agriculture and forest encroachment, pose a significant threat to landscapes, leading to deforestation, biodiversity loss, and habitat destruction.

Sustainable finance mechanisms at the landscape level, like the Cocoa Landscape Investment Facility (CLIF) in Ghana, can help steer countries, companies, and local producers toward sustainable landscape management. South Pole, in collaboration with Partnerships for Forests (P4F), has spent the last two years designing and developing CLIF and has recently published a report on its key learnings, with a focus on Asutifi Asunafo and Bia Juabeso landscapes. Here we share what we learned from the development of CLIF, the importance of valuing natural capital beyond carbon (such as water and biodiversity), and the critical role of public-private partnerships in addressing the complex issue of deforestation.

CLIF: an urgently needed sustainable finance mechanism

The current agri-food system’s damaging impacts on the environment are estimated at a staggering US$19.8 trillion, more than twice the market value of global food consumption. Severe consequences on ecosystem services, food security, and community livelihoods underscore the urgent need for a transformative approach to landscape management. It is clear that we need to transform our relationship with nature for a future of sustainable and equitable economic growth.

The urgency for finance that drives sustainable practices comes into sharp focus in Ghana, the second-largest cocoa producer in the world. The West African nation known for its rich biodiversity and lush forests has lost more than 60% of its forest cover since 1950. This rampant deforestation has largely been driven by the expansion of cocoa farming and unsustainable agricultural practices.

Deforestation in Ghana’s cocoa forest landscape is intricately linked to low yields, low incomes, poor agricultural practices, and unfavourable market conditions. Smallholder farmers – the backbone of Ghana’s agriculture sector – lack incentives for sustainable practices. A comprehensive landscape approach, with a holistic balance between agricultural productivity, nature conservation, and community well-being, is crucial to not only safeguard nature but also improve the lives and livelihoods of local communities.

In response to these challenges and to protect Ghana’s forests, the Government of Ghana and the private sector have joined forces to implement initiatives that address the sustainability of landscapes and improve the lives and livelihoods of local communities. This mechanism is designed to operate at the landscape level, with the goal of coordinating and increasing investments to deliver zero-deforestation, low-carbon, and sustainable landscape management in three priority landscapes in Western North Ghana.

Collaborate, invest, sustain

Collective action and structural investments are critical to address the complex issues in cocoa-producing landscapes. CLIF serves as a model for financing mechanisms that can coordinate investments, encourage public-private partnerships, and promote sustainable practices. By assessing the value of natural resources, collaborating with diverse stakeholders, and adopting a landscape approach, CLIF has the potential to pave the way for a more sustainable future in Ghanaian landscapes.

CLIF addresses the root causes of deforestation, empowering smallholder farmers, and fostering collaboration between diverse stakeholders by providing technical assistance and loans, and leveraging natural capital such as through climate-smart agriculture, forest conservation, and reforestation. The investment mechanism embodies a holistic and highly replicable investment model for sustainable landscape management.

Key lessons from the development of CLIF

The full report developed by South Pole – Lessons learned from the Cocoa Landscape Investment Facility (CLIF) development: Valorising natural capital – details the process followed for assessing the landscape potential for avoiding carbon emissions and presents potential pathways for valuing carbon and different ecosystem services. This serves as a valuable resource for project developers, development practitioners, investors, and other stakeholders involved in sustainable landscape management and smallholder farming ecosystems.

Insights from the development of the CLIF reveal a structured approach to landscape management that is replicable to products and geographies beyond cocoa and Ghana. The report emphasises the importance of inclusive governance, co-management, and coordinated investment in viable livelihood options for farmers. The prioritisation of forest restoration, agroforestry, community livelihoods, and improved governance highlights the need for a holistic and replicable strategy in tackling the challenges associated with sustainable landscape management.

Going beyond carbon

As CLIF progresses, it is becoming clear that sustainable landscape management demands a holistic approach. The lessons learned underscore the need to look beyond carbon and consider broader ecosystem services, including biodiversity and water resources. This comprehensive perspective ensures that natural resources are preserved and resilient landscapes are developed that benefit the environment and local communities.

Now, more than ever, finance partnerships and the involvement of key stakeholders in transforming sustainable landscape management are crucial. CLIF is now looking to explore a variety of finance partnerships and corporate sector commitments to prepare for a full pilot rollout in 2024.

Register to secure a virtual seat, cast a vote for your favorite nonprofit to receive funding for its technology-based solution

Greg Olsen, an American football sportscaster and former NFL player, named host

CHARLOTTE, N.C., February 26, 2024 /3BL/ – Truist Foundation today announced the opening of registration for its second Inspire Awards to be held on April 24 at the Knight Theater in Charlotte and online. The Inspire Awards is a pitch-style grant program celebrating nonprofits across the country that bring forward innovative solutions to support entrepreneurs from undercapitalized communities.

The live event will be hosted by Greg Olsen, an American football sportscaster and former NFL tight end. Olsen is a long-time supporter of philanthropic causes and the Charlotte community.

“I’m honored to be given the opportunity to host the Truist Foundation Inspire Awards this upcoming spring,” said Olsen. “Celebrating new technology and ideas in support of small businesses making an impact in the local community is so important to me, and I look forward to welcoming people from across the country to make their voices heard and helping drive meaningful change for underserved entrepreneurs.”

This event will be livestreamed so individuals nationwide can tune in and be inspired by the innovations of the finalists. Virtual attendees can participate by voting for the Audience Favorite Award, which earns the recipient a $75,000 grant.

“This is a unique opportunity to not only witness the power of innovation but to actively contribute to it. The audience’s participation will help enable one nonprofit’s tech-based solution and support small businesses by increasing the organization’s total grant,” said Truist Foundation President Lynette Bell. “The Truist Foundation Inspire Awards is an evening where inspiration meets action, and your registration is the first step.”

The following organizations will present their cutting-edge solutions on April 24 and are eligible for the Audience Favorite Award:

ACT! Albany Community Together Inc., increasing and enhancing its training and technical assistance programs to empower small businesses in a 38-county region of southwest Georgia.Aire Ventures Inc., partnering with Zirtue to support Opportunity Connect, a neighborhood initiative that aims to provide access to capital to small business owners in opportunity zones.Carina, offering an easy-to-use, mobile-first child care platform, available in English and Spanish, which matches unionized Family Child Care Providers (FCCPs) with families needing child care.Centro Community Partners, providing an AI-generated journey through a virtual hub of small business owner resources for low- to moderate-income entrepreneurs in underserved communities.Immigrants Rising & Community Initiatives, employing a gamification learning hub to cater to individuals facing barriers to traditional employment who want to earn a sustainable income through small business ownership.NCRC Community Development Fund, supporting an AI-based lending platform to make the loan application process more efficient and accessible to undercapitalized small businesses.Start Small. Think Big. Inc., developing a dynamic web portal to improve services for small businesses from marginalized communities that will serve as a hub for onboarding, project management and analytic tools as well as legal, financial, sales and marketing administration.

Leading up to the Inspire Awards, Truist Foundation collaborated with Solve, an initiative of the Massachusetts Institute of Technology, to identify and invest in nonprofits leveraging technology as a proven pathway to resiliency and sustainability. To qualify, the Inspire Awards finalists submitted proposals with transformative ideas and completed a six-month wraparound support program to grow their concepts into fundable solutions.

During the event, finalists will present their ideas and grants will be announced. The top organization will receive a $250,000 grant to bring its solution to life. Second place will receive a $150,000 grant and runners-up each receive a $25,000 grant. The audience favorite will receive an additional $75,000 grant.

Register and witness the power of collective impact at truist.com/InspireAwards.

About Truist Foundation 
Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. The foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the foundation’s leading initiatives — the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.

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Originally published on bloomberg.com

Philanthropy is at the heart of Bloomberg, and the Legal & Compliance Department’s mission is no different. The Department launched the Bloomberg Legal & Compliance Pro Bono Program in 2016 as a way for its attorney, compliance, operations and negotiation teams to use their knowledge, time and expertise to give back to underserved communities around the globe. In close partnership with Corporate Philanthropy, the Department built strong relationships with not-for profits, law firms, corporate legal departments and other organizations committed to service, and developed a pro bono program to help marginalized communities navigate legal issues and processes for complex matters related to asylum, veteran benefits, immigration, domestic violence, transgender name change petitions, and small business management.

“We measure our success in lives permanently changed for the better,” said Bloomberg General Counsel David Levine. “Helping those in need is a fundamental obligation of legal professionals, and our commitment to pro bono work is firmly established in the company’s culture.”

As the Department reflects upon the impact it has had over the last eight years, it is clear that service and community outreach has become embedded in the team’s culture. Since the launch of the program, 95% of the Department globally has contributed to a total of more than 30,000 hours of pro bono work. The strength of the Program is evidence of the Department’s desire and ability to collaborate, and to use its knowledge and resources to serve others effectively and efficiently.

“David Levine has fostered an environment that encourages our team to use its time and skills to work on pro bono matters. The steadfast commitment of our colleagues – volunteering over 4,900 hours last year and 5,000 hours in 2020 during the pandemic – is a true testament to their dedication and passion for this work. Leading the pro bono program has been one of the highlights of my professional career,” said Kim Rutan, Global Head of the Program.

Global reach, local impact

What began with a handful of clinical programs in the United States has grown into more than 100 unique pro bono opportunities across the Americas, APAC, and EMEA regions in collaboration with non-profit partners around the world.

In the U.S., for example, asylum seekers often face a catch-22: the asylum process is nearly impossible to navigate without the help of a legal professional, but lawyers are usually expensive and in limited supply. The Program in the U.S. has placed a strong emphasis on working with asylum seekers and providing legal aid throughout the process.

One recent asylum seeker who worked with the Program shared his story:

“Bloomberg made me feel comfortable, and I felt that they cared,” Mohammed said of his Bloomberg Legal & Compliance team. “The lawyer actually picked me up from my home and drove me to the interview site in Long Island. I went through a very dark time, and they gave me hope.”

While the process was lengthy, his case was successful and Mohammed was ultimately granted asylum in 2018. “It feels really good not to be scared anymore of being hurt and not being able to get help,” Mohammed said. “It wasn’t an easy journey, but having this kind of support, it means a lot.”

In the Americas, the Legal & Compliance team also works with: transgender individuals on legal name change petitions; immigrants applying for naturalization and individuals applying for Deferred Action for Childhood Arrivals (DACA); low-income, immigrant domestic violence survivors seeking legal status through the Violence Against Women Act (VAWA) petitions; individuals seeking assistance on family law matters (including orders of protection for survivors of domestic violence); low income New Yorkers on tax return preparation; and individuals who claim to have been wrongly convicted and are seeking exoneration.

In EMEA, the team mentors law and compliance students, assists the London Community Response Fund (LCRF) in reviewing grant applications, supervises Queen Mary University of London LLM students’ legal clinics, and provides legal advice on a wide range of issues to clean-technology and sustainability focused startups.

In APAC, the team works with artists and freelancers to develop negotiation skills, researches banking access for refugees without visa status, and mentors law students. The team also assisted a non-governmental organization in structuring and maintaining refugee pro bono projects and leveraged their professional skills and experience to provide training for advocates and applicants seeking asylum.

A source of pride

Pro bono work has become a major source of pride for members of the Department, and for members of the Bloomberg community at large. Working for a company where philanthropy and service are integral parts of the culture helps employees develop leadership skills by building relationships with pro bono partners and managing volunteers within their respective departments.

Since 2020, this has meant finding opportunities to support those hit hardest by the COVID-19 pandemic. For example, in April 2020, as the United States was locking down, the Pro Bono Committee collaborated with the City Bar Justice Center on their small business clinic and legal hotline to provide limited-scope consultations to address COVID-19 related concerns.

“When the pandemic hit [in 2020], the City Bar Justice Center quickly mobilized to roll out three COVID response pro bono projects to assist New Yorkers with pressing legal needs. Many Justice Center pro bono partners answered our call for assistance, but Bloomberg’s response was among those that stood out, with a number of its lawyers responding to and assisting with both our small business assistance initiative and expanded Legal Hotline project – on top of continuing work with our existing pro bono projects,” said Kurt Denk, Executive Director of the City Bar Justice Center. “Bloomberg’s commitment to pro bono is real, sustained, and makes a difference in the lives of countless New Yorkers in need.”

As the Department celebrates the program’s fifth year, the Pro Bono Committee is already looking ahead for new ways that members of the Department can put their expertise to work to benefit communities where our employees live and work. The Department’s commitment to pro bono has never been stronger and it is continuing to make positive and lasting changes that will benefit individuals and organizations who cannot afford legal counsel.

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February 26, 2024 /3BL/ – In March of 2022, Heads of State, Ministers of environment and other representatives from UN Member States endorsed a historic resolution at the UN Environment Assembly in Nairobi to End Plastic Pollution and forge an international legally binding agreement by 2024. The resolution addresses the full lifecycle of plastic, including its production, design and disposal. The voice of business will play an important role in providing input to this process, working together with governments and other interested parties.

The Healthcare Plastics Recycling Council (HPRC) proudly announces its support for the Business Coalition for a Global Plastics Treaty, an initiative convened by the Ellen MacArthur Foundation and WWF since September 2022.

With this support, HPRC joins over 200 businesses spanning the plastics value chain, financial institutions, and NGO partners, amplifying the call for an effective UN treaty that transitions plastics into a circular economy, preventing them from becoming pollution.

“Plastics are critical to effective global healthcare, and while healthcare plastics are just one small portion of the collective plastic pollution problem our world is facing, there are unique challenges and opportunities associated with these materials,” shared Peylina Chu, Executive Director of HPRC. “Supporting the Business Coalition for a Global Plastics Treaty allows organizations like HPRC to have our voices amplified and contribute to the greater goal of a circular plastics economy.”

The Business Coalition for a Global Plastics Treaty represents a diverse array of stakeholders committed to driving transformative change through the “Zero Draft” for a Global Plastics Treaty. The draft treaty text outlines various options aimed at advancing reduction, circulation, prevention, and remediation efforts in alignment with the coalition’s vision.

The UN Member States signaled the urgent need for a solution by establishing an aggressive timeline for development of an agreement. With under one year of negotiating time remaining, the Intergovernmental Negotiating Committee (INC) must prioritize the development of a treaty that enables gradual strengthening and future expansion of policy measures. It is imperative that the final treaty sets a course for immediate and sustained action to address plastic pollution on a global scale.

HPRC recognizes the critical importance of collective action in addressing the plastics crisis. By aligning with the Business Coalition for a Global Plastics Treaty, we reaffirm our commitment to driving meaningful change within the healthcare industry and beyond.

For more on the work and progress of the coalition, visit https://www.businessforplasticstreaty.org/

About HPRC

HPRC is a private technical coalition of industry peers across manufacturing, healthcare, and recycling industries seeking to improve the recyclability of plastic products within healthcare. Made up of brand-leading and globally recognized members, HPRC explores ways to enhance the economics, efficiency, and ultimately the quality and quantity of healthcare plastics collected for recycling in support of a circular plastics economy. HPRC is active across the United States and Europe working with key stakeholders, identifying opportunities for collaboration, and participating in industry events and forums. For more information, visit www.hprc.org and follow HPRC on LinkedIn.

About The Conveners

WWF is one of the world’s leading conservation organizations, working in nearly 100 countries for over half a century to help people and nature thrive. With the support of more than 5 million members worldwide, WWF is dedicated to delivering science-based solutions to preserve the diversity and abundance of life on Earth, halt the degradation of the environment and combat the climate crisis.

Visit http://www.worldwildlife.org to learn more and keep up with the latest conservation news by following @WWFNews on Twitter.

The Ellen MacArthur Foundation is an international charity that develops and promotes the circular economy in order to tackle some of the biggest challenges of our time, such as climate change, biodiversity loss, waste, and pollution. The Foundation works with its network of private and public sector decision-makers, as well as academia, to build capacity, explore collaborative opportunities, and design and develop circular economy initiatives and solutions. Increasingly based on renewable energy, a circular economy is driven by design to eliminate waste, circulate products and materials, and regenerate nature, to create resilience and prosperity for business, the environment, and society.

Further information: www.ellenmacarthurfoundation.org | Twitter: @circulareconomy | LinkedIn: Ellen MacArthur Foundation | Instagram: @ellenmacarthurfoundation