Month: April 2024

The Whirlpool Foundation announced that it has awarded 30 scholarships to the students of Whirlpool Corporation employees through the Sons and Daughters College and Vocational Training Scholarship program. The scholarship program is in its 72nd year and has historically focused on traditional four-year colleges/universities. Beginning last year, the program was expanded to meet the post-secondary educational needs of students pursuing a vocational or technical career as well.

These scholarships celebrate the best and brightest among high school seniors across Whirlpool Corp. locations – including the company’s 10 U.S. manufacturing communities. The Whirlpool Foundation provides these scholarships through a competitive process in which children of more than 20,000 U.S. Whirlpool Corporation employees are eligible to apply.

“Each year we are honored to invest in the future of our employee’s children through the Sons & Daughters Scholarship Program,” said Deb O’Connor, managing director of the Whirlpool Foundation. “The scholarship has a real impact toward helping to pay for the education needed to start the career of their dreams.”

The following children of Whirlpool Corporation employees have been selected to receive a 2024 scholarship:

Morgan Adkison, child of James AdkisonKenyon Bilbrey, child of Ruben RosalesBrynn Butler, child of Alana ButlerMadison Brook, child of Amber HobbsJoseph Faber, child of Tad FaberAnecia Galvin, child of Annie GalvinBrooklyn Hamelink, child of Greg HamerlinkWilliam Inkrott, child of Chad InkrottAlayna Jones, child of Andrea FullerVishisht Khare, child of Vinay KumarLun Kim, child of Niang Lawh NuamMikayla Lieske, child of Amy FloresJacob King, child of Brandi KingNicole Marrie, child of Stephen MarrieMackenzie Nevison, child of Steve NevisonRylee Newland, child of Matthew NewlandHaylee Potter, child of Chad PotterAlexis Quickle, child of Edward QuickleRachel Schmitt, child of Matthew SchmittTaylor Schoen, child of Douglas SchoenAseem Singh, child of Atul SinghAnkith Sirigireddy, child of Thulasi Krishna Reddy SirigireddyGrant Spielbauer, child of Jodi SpeilbauerMakayla Stachler, child of Shawna StachlerNevaeh Stone, child of Nakicha StoneKimsey Turner, child of Brad TurnerChelsea Tyson, child of Corey MillerAudrey Wise, child of Jane WiseMegha Yeddula, child of Deepthi ReddyDaysia Ward, child of Parthenia Phillips

The Sons & Daughters Scholarship Program has provided more than 2,600 scholarships and honor awards totaling over $18 million, with more than 100 scholarship and award recipients currently attending colleges, universities and vocational schools across the U.S. Children of any full-time Whirlpool Corporation employee at the director level and below are eligible. Students pursuing a 4 year degree will receive $30,000 over 4 years and students working toward a 2 year vocational degree will receive $15,000 over 2 years toward their respective educational costs. Students must maintain a 2.8 grade point average to maintain their scholarship.

View original content here.

Throughout April, Qurate Retail Group has been celebrating our Annual Diversity Month. This is a time when we recognize and celebrate our unique cultures, backgrounds and rich traditions that contribute to our diversity at Qurate Retail Group.

One way we celebrate is through recognition of our Team Member Resource Groups (TMRGs) – our voluntary, team member-run groups, who collaborate to foster a culture of belonging and raise awareness of topics that matter to our communities. Our TMRGs provide a platform for team members to have a louder voice and play a vital role in shaping our company culture, as well as our business. Members of our TMRGs are ambassadors of our DE&I approach and enablers of the change towards more inclusive workplace environments where all team members can thrive. Watch the video above to learn more about our various TMRGs and the importance of being a member of the community or an ally.

For Qurate Retail Group, cultivating inclusive environments is both a human issue and a business issue. We believe this is the right thing to do. We also believe that a culture of diversity, belonging, and fairness can fuel engagement and innovation, leading to better business performance and stronger communities.

Learn more about our commitment to inclusion here: https://www.qurateretailgroup.com/lp/diversity-equity-inclusion/

April 30, 2024 /3BL/ – Otis India, a subsidiary of Otis Worldwide Corporation (NYSE: OTIS), the world’s leading manufacturer of elevators, escalators, and moving walkways, has embarked on a volunteer tree planting initiative in major cities across India. Since last November, colleagues from Otis India have planted 2,000 trees in Bengaluru and 2,000 trees in Kolkata, with the intent to plant an additional 2,000 trees in both Mumbai and New Delhi this year.

Thanks to the efforts of Otis India volunteers, these urban centers now have thousands of new trees and plants helping to preserve biodiversity, many of which yield ecological benefits. To ensure the longevity and wellbeing of the newly planted trees, Otis India has committed to maintaining the trees for one year, supported by specialists to take care of watering and weeding.

The tree planting initiative is a part of the company’s continuing focus on supporting vibrant communities. “This work supports our global sustainability and community engagement goal to contribute 500,000 volunteer hours by 2030, ensuring that our colleagues help sustain and improve the communities where they live and work,” said Sebi Joseph, President, Otis India. “Planting diverse, native trees is also an important step toward helping preserve biodiversity in these urban centers.”

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide – the industry’s largest Service portfolio. You’ll find us in the world’s most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.

April 30, 2024 /3BL/ – ClearBridge Investments, a leading global equity manager with $188 billion in assets under management, released its seventh annual Stewardship Report for the 2023 year, detailing its approach to creating shareholder value through the incorporation of environmental, social and governance (ESG) factors into its investment process. ClearBridge, a Franklin Templeton company, has used ESG integration as a core part of its active management approach for more than 35 years.

“Harnessing innovation to advance sustainability priorities and partnering with portfolio companies to drive progress for shareholders remain central to what we do,” said Terrence Murphy, Chief Executive Officer of ClearBridge Investments.

“It is important to reflect on how essential public companies are to the innovation that improves life on earth. Three-quarters of emission reductions needed for net zero will be from technology that is not yet commercial,” said Mary Jane McQuillen, Head of ESG and Portfolio Manager. “ClearBridge is seeing the potential for potential for new investment opportunities addressing nature-related risks, with new business models reducing demand for high-impact commodities, responsibly managing land and sea ecosystems, reducing pollution or enabling decarbonization.”

2023 Highlights

In 2023, ClearBridge earned top scores across all three categories of the U.N.-supported Principles for Responsible Investment (PRI) reporting assessment, scoring well above the median for the PRI universe. ClearBridge has been a PRI signatory since 2008.

In November 2023, ClearBridge joined a group of international investors representing $4.5 trillion in assets under management and advisement to sign the Interfaith Center on Corporate Responsibility’s Living Wage Statement calling on U.S. companies to take steps toward paying a living wage to both direct and contract workers in line with international human rights standards.

ClearBridge also made updates to its ESG policy to increase its focus on several material topics and bolster ESG oversight of its portfolio companies. These updates included articulating a clear biodiversity policy and formally endorsing internationally recognized standards and frameworks on human rights, such as the U.N. Guiding Principles on Business and Human Rights (UNGPs), the OECD Guidelines for Multinational Enterprises and the U.N. Global Compact.

“Human rights are relevant to businesses across sectors and in every part of the globe. They are therefore an essential part of ClearBridge’s company engagements,” added McQuillen.

Proxy Voting and Company Engagements

ClearBridge uses its influence as an active owner and top 20 shareholder at more than 200 public companies to promote positive change through its proxy voting and company engagement activity. In 2023, ClearBridge voted on 15,060 shareholder proposals at its portfolio companies, continuing its track record of casting 100% of its proxy votes.

As a long-term shareholder with an average holding period of five years, ClearBridge has cultivated strong and lasting relationships with company management teams. In 2023, the firm convened more than 1,000 meetings with companies and initiated over 600 ESG-related company engagements.

“Engagement to drive positive change in public equities is a long-standing part of ClearBridge’s investment decision-making process and a key element of active ownership,” said Murphy.

Net Zero Alignment

In 2021, ClearBridge joined the Net Zero Asset Managers initiative, a group of more than 300 asset managers with nearly $60 trillion in assets under management committed to playing their part in getting the world to net-zero carbon emissions by 2050. As of the end of 2023, 55% of ClearBridge’s in-scope assets were net-zero aligned, representing a 27% increase year over year of net-zero-aligned assets.

Building a Diverse and Inclusive Culture

The firm sustained strong representation of women and people of color among its workforce in 2023, with women and people of color representing 37% and 33% of its total staff, respectively. ClearBridge has continued to build diversity in its investment management team, and the percentage of women and people of color within ClearBridge’s investment analyst team has grown significantly since 2021.

“An effective way for us active managers to guide our portfolio companies is through leading by example. We are proud of the efforts we have made at ClearBridge to develop and maintain a diverse workforce, increasing the number of people of color in investment roles for three years in a row,” added Murphy.

Advancing the U.N. Sustainable Development Goals (SDGs)

ClearBridge contributes to the advancement of the U.N. SDGs through its active public equity ownership as well as its philanthropic efforts. In 2013, ClearBridge first partnered with WaterAid, an international nonprofit improving the accessibility of clean water and sanitation in Timor-Leste, one of the world’s least developed countries. These efforts directly support Sustainable Development Goal 6: Clean Water and Sanitation.

In 2023, ClearBridge’s collaboration with WaterAid facilitated the installation of a water pump, which serves four villages in Darulete, a rural community in the Liquiçá municipality of Limor-Leste. This pump, now owned and maintained by the local water collective action group, has transformed the lives of the community members, particularly young girls, who were previously burdened with hours of daily travel to collect water.

About ClearBridge Investments

With $188 billion in assets under management as of March 31, 2023, ClearBridge Investments is a leading global equity manager committed to delivering long-term results through authentic active management, offering investment solutions that emphasize differentiated, bottom-up stock selection to move clients forward. The firm integrates ESG considerations into its fundamental, bottom-up research and stock selection process across all strategies. Owned by Franklin Templeton, ClearBridge operates with investment independence from headquarters in New York and offices in Baltimore, Fort Lauderdale, London, San Mateo, and Sydney.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of March 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.

Originally published on Black & Veatch Insights Group

It’s finally happening. In a culmination of its deliberate “research, remediate and regulate” strategy, the U.S. Environmental Protection Agency (EPA) issued its final rule regulating PFAS chemicals in drinking water supplies on April 10, 2024.

The final PFAS regulation contains mostly minor changes to the EPA’s 2023 proposed rule. One big change includes a five-year compliance timeline for the maximum contaminant levels (MCL). While this is an improvement from the three years in the proposed MCL, this timeline will still be challenging when considering demonstration testing, design, construction, and procurement of high-demand materials. To meet the challenge, some quick, effective cost and treatment tools are available for consideration. Wherever government and water utilities might fit on the PFAS awareness-action spectrum, the time to address the challenge in earnest is here.

Download the PDF Summary: PFAS: Complying with the EPA’s Final Drinking Water Rule

Know the Rule

The final National Primary Drinking Water Regulation (NPDWR) for PFAS monitors six key compounds at the lowest levels ever regulated.

MCLs now are established for perfluorooctanoic acid (PFOA), and perfluorooctanesulfonic acid (PFOS), perfluorononananoic acid (PFNA), perfluorohexane-sulfonic acid (PFHxS), and hexafluoropropylene oxide-dimer acid (HFPO-DA, also known as GenX). The MCLs for PFOA and PFOS are each 4 ng/L, or parts per trillion (ppt). The MCLs for PFNA, PFHxS, and GenX are each 10 ng/L. The EPA also established a Hazard Index (HI) MCL of 1 (unitless) for PFNA, PFHxS, GenX, and perfluorobutanesulfonic acid (PFBS).

The HI is a summation of the individual concentrations divided by the associated health-based water concentration, or the level below which no adverse health effects are likely to occur. The EPA utilized the HI approach due to additive health risk from co-occurrence of these compounds. This HI is only applicable when two or more of these compounds are simultaneously detected.

Compliance with the rule requires public water systems (PWSs) to monitor for these PFAS, notify the public of their PFAS levels, and reduce their levels where they exceed the limits.

Initial Responses

The first concern for most utilities will be monitoring, followed by identifying the cost of compliance if they do exceed the MCLs. The Safe Drinking Water Act (SDWA) requires the EPA to conduct a thorough cost-benefit analysis for every new standard to determine whether the benefits of a drinking water standard justify the costs. Prior to the EPA’s proposed NPDWR for PFAS in 2023, the American Water Works Association (AWWA) contracted with Black & Veatch to provide an independent cost analysis and model the cost of compliance with various regulatory limits and to help inform the regulation. The changes to the EPA’s final NPDWR for PFAS are not expected to impact the compliance costs, given that most systems that would exceed MCLs for PFNA, PFHxS, or GenX would already require improvements due to exceedances in the PFOA/PFOS MCLs. Black & Veatch can use this model to develop compliance costs for individual utilities as well (both capital and lifecycle costs). The cost model enables water systems to develop cost scenarios by accounting for the systems’ unique parameters, from chemical makeup to site constraints, and their impact on possible PFAS mitigation options. Learn more about the cost model.

Without question, compliance with the final rule is a costly proposition; it’s also potentially, a lengthy one. Modular water treatment offers a reliable, cost-effective way to accelerate the compliance process. This solution is most appropriate for capacities from 50 gpm to 8 mgd. Available for rapid and emergency deployment, modular units can be deployed after upfront testing and assessments are complete. Using well-established treatment methods in compact configurations, the systems can be deployed independently as well as in multiple units to handle greater flows. Although temporary, they are a turnkey solution that offers reduced capital investment and a shorter lead time when speed is critical, helping owners relieve regulatory and customer pressure. Explore the benefits of modular PFAS treatment.

No Time to Wait

There is a five-year compliance schedule before the MCLs go into effect under the final rule. PWSs will be required to begin monitoring and reporting within consumer confidence reports (CCRs) within three years. Affected utilities and commercial entities might be tempted to sit tight as the schedule unspools. Not since 1998 has Congress agreed to regulate a new drinking water contaminant, and 2024 as an election year supports a wait-and-see approach.

However, waiting to act should be considered a risky approach, at best. Each primacy agency will consider if an additional two-year compliance “grace period” will be allowed after the 2029 deadline. Even during that grace period, the effects of PFAS regulation under the SWDA will continue to fuel litigation and provide impetus to other EPA efforts to regulate PFAS using the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and Resource Conservation and Recovery Act (RCRA). These federal statutes govern management and cleanup of hazardous wastes and materials.

The pressure to understand and mitigate PFAS impacts is significant for other reasons as well. Consider:

The National Academy of Science concurred with the EPA’s findings linking PFOA and PFOS exposure to certain cancers. The allowable exposure level in such instances is typically zero. The SDWA does not allow regulatory limits below the practical quantification levels (PQLs), or levels at which all certified laboratories can accurately measure. For that reason, the MCLs were set at the PQLs.The science behind the EPA’s final rule is foundational to PFAS regulations that have been and are being implemented across the country at the state and local levels.Led by the science, the attention by public, media and advocacy groups to PFAS exposure keeps increasing, posing a significant reputational risk to utilities and commercial entities alike.Also on the rise: legally required reporting and monitoring requirements tracking PFAS use and discharges, with the results available for public (and court) consumption. Examples are the Toxic Release Inventory (TRI) Database, the Unregulated Contaminant Monitoring Rule 5 (UCMR5), and the EPA’s upcoming survey of 400 POTWs to be executed under its Clean Water Act (CWA) authority.

Perhaps the two greatest incentives for acting immediately involve funding and litigation.

Funding and Litigation

Infusion of capital into the water sector via the Infrastructure Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law (BIL), is accelerating investments in controlling contaminants such as PFAS. The IIJA devotes $10 billion for fiscal years 2022–2026 to addressing PFAS. This is divided into three primary categories: $5 billion to help small and disadvantaged communities address PFAS drinking water issues; $4 billion to help water utilities remove PFAS from drinking water supplies; and $1 billion to help wastewater utilities. All of the IIJA funding for emerging contaminants will be provided as grants or forgivable loans and prioritizes small and disadvantaged communities. The majority of these funds flow through the state revolving fund (SRF) programs, are managed directly by state entities, and are first awarded as formula grants to states before they can flow to recipients implementing projects. This is a two-step process, which results in a one- to three-year delay between when the federal funds are made available by the EPA and when the recipients receive the funds. This means that funds will be available for projects past 2026 and potentially into 2029.

Projects eligible to receive funds include the construction of new treatment facilities or upgrades to existing facilities, planning and design costs, and creation of new community water systems to supply water when privately owned wells or surface water sources are found to be contaminated. Some funds can also be used to pay for activities unrelated to building infrastructure such as household water testing, technical assistance, local contractor training, public communication and water system consolidation.

When it comes to litigation, until recently, only a small number of cases were brought against PFAS manufacturers. Now, the pace and volume of litigation is intensifying. For example, some 13,000 claimants (including dozens of state attorneys general) are participating in a multi-district lawsuit in South Carolina against PFAS manufacturers. Also, bellwether lawsuits against utility companies, energy companies, paper companies and fire equipment distributors are quickly increasing the breadth and depth of PFAS-related litigation. To be able to participate in such litigation, entities must actively, consistently and precisely track their PFAS levels and mitigation efforts.

Needed: Situational Awareness

Utilities and commercial entities need to ensure they can describe the presence or absence of PFAS in their facilities, environs and operations, including inputs and discharges. They also must be able to show they are acting in a manner that protects human health and the environment while complying with all applicable regulations.

Source identification and monitoring (in facilities and their environs), material surveys, discharge surveys and mass balances can all be developed as part of a regulatory compliance or voluntary initiative. Information collected and analyzed on a voluntary basis may be made available to the public or regulators or remain internal for process optimization or under attorney-client privilege. Developing and updating (as appropriate) this situational awareness offers multiple benefits in addition to compliance with EPA’s final NPDWR for PFAS.

Understanding and analyzing real, potential or perceived risks to the public and to facility/utility operations.Compliance with voluntary monitoring or reporting programs.Alternative evaluation/feasibility analysis of technology or management strategies.Preparation for participation in lawsuits (as a claimant, litigant, or defendant).Preparation to apply for supplemental funding, grants or awards.Preparation for reaction to federal or state regulatory changes or litigation actions.Knowledge for input into community relations/stakeholder engagement regarding PFAS issues.

To learn more, visit www.bv.com/pfas or contact our experts today to discuss your specific needs.

Originally published on bloomberg.com

NEW YORK, April 30, 2024 /3BL/ – Bloomberg today published its 2023 Impact Report, which outlines how the company continues to address climate change through its operations, philanthropy and collaborations with partners and industry peers. The report also details how Bloomberg integrates sustainable business practices into its operations and decision-making and how it helps to drive progress in the communities where employees and clients live and work.

The report highlights Bloomberg’s latest ESG datasets, tools and research, including products that help firms assess risks and opportunities as the world transitions to a net-zero emissions economy and meet new climate-related regulatory requirements. Bloomberg also outlines its progress toward reaching its validated science-based net-zero emission reduction target by 2040, including the recent signing of an 80 MW Power Purchase Agreement (PPA) for renewable energy.

“We’re working to increase access to data and information that helps investors and policymakers make informed decisions that both grow the economy and help catalyze investment in a clean energy future.” said Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies. “And, through our support of industry initiatives such as the Glasgow Financial Alliance for Net Zero, we advanced our work providing resources to financial firms to help them measure and manage emissions across their portfolios.”

Read the full letter here.

A selection of highlights from the 2023 Impact Report include: 

Environmental Impact

Reducing emissions in line with a 1.5°C future

Received validation from the Science Based Targets initiative (SBTi) for Bloomberg’s long-term science-based net-zero target to reach net-zero greenhouse gas emissions across our value chain by 2040Progressed toward our SBTi-validated near-term science-based carbon emissions reduction targets with 21% Scope 1 and 2 reductions and 27% Scope 3 reductionsObtained 62.2% of Bloomberg’s global electricity consumption from renewable sourcesSigned an 80 MW Power Purchase Agreement (PPA)—our largest PPA to date—with clean energy developer Ørsted

Supporting coherent, impactful climate action

Introduced new indices within the Bloomberg Climate Index family including the new Bloomberg Commodity Carbon-Tilted IndexReleased new Bloomberg Terminal tools for analyzing physical risk and net-zero transition riskLaunched new Bloomberg Terminal data and analytical tools to provide a comprehensive view of the nature-related impacts and dependencies in investment portfoliosEnhanced our solutions for disclosure, reporting and analysis against key regulatory frameworksPublished more than 2,500 research publications on the global low carbon transition and commodity markets

Social Impact 

Investing in an increasingly diverse workforce

Invested in our leaders, helping them build the skills needed to elevate and model inclusive leadership with the launch of three new inclusive leadership initiativesEstablished a task force to respond to the challenges and needs of our colleagues with disabilitiesCollaborated with more than 20 external organizations, including forming new partnerships to help us identify and hire candidates from underrepresented communitiesLaunched the Bloomberg Veterans Impact Program, which seeks to improve how we recruit, retain and advance veterans’ careers at BloombergLaunched a comprehensive women’s health program in the UK to normalize women’s health in the workplace, break stigma and offer ongoing support

Driving Social Change

Launched a first-of-its-kind data tool to assess the potential impact of a company’s business on any of the United Nations’ 17 Sustainable Development Goals (SDGs)Over 19,000 employees volunteered in their communitiesDelivered over 2.8 million meals and over 79,000 care kits to those in needExpanded cross-regional programs to demystify financial services and encourage women and under-represented communities to consider careers in financeHelped bridge the digital divide through mentoring interactions and by promoting employee-driven funding for open-source softwarePromoted diverse voices in media and the arts through diversifying our news sources and extending programs to strengthen financial journalism

The Impact Report is third-party verified, and has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) standards specific to our industries and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), and it incorporates select content from the CDP (formerly known as the Carbon Disclosure Project). The 2023 Impact Report can be viewed and downloaded at www.bloomberg.com/impact, along with the GRI Content Index and SASB Disclosures.

About Bloomberg 
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

Media Contact 
Ty Trippet 
+ 1 212-617-2443 
ttrippett@bloomberg.net