Month: May 2024

Despite being sustainable, nutritious and delicious, vegetables are often relegated to side dishes instead of center of the plate. No longer an afterthought, it’s time for vegetables to shine!

Today, many brands and chefs are looking at the plant-based revolution from a new perspective, taking a simpler approach that puts vegetables in a leading role. Vegetables are being elevated through flavor-boosting preparations such as fermenting, pickling, grilling and roasting.

An area where we’re seeing a clear shift toward whole-food formulations is in the alternative protein market, where vegetable-centric options are popping up alongside the plant-based meat analogues. Ingredients such as cauliflower, jackfruit, artichokes and beets are prominently displayed on ingredient labels and menus, often supplemented with nutritious chickpeas, yellow peas and quinoa.

IN THE PROTEIN SPACE:

Eggplant pâté, positioned as gluten-free and supplemented with green banana (Brazil)Mushroom meatballs, made with lion’s mane mushrooms, seasonings and non-GMO soybeans (Taiwan)Buffalo jack wings, a vegan option with whole jackfruit as the first ingredient (US)

In foodservice, chefs are taking advantage of seasonality to reinvent menu items with a vegetable-forward twist—think dishes like short ribs made with braised eggplant instead of beef. Vegetarian tasting menus take this creativity even further, celebrating the versatility of vegetables across preparation types and flavor profiles. This approach also helps to minimize food waste, with stems, leaves and bruised produce being repurposed into items like sauces and purées.

ON THE MENU:

Glazed turnips with turnip leaf onion sauce, hazelnut miso butter and togarashi pickles (US)Braised morchella with soy “brisket,” radish and golden tremella, served with kale rice (Hong Kong)Celery root shawarma with spinach pâté and fermented tomato (UK)

For the snack category, crisps, chips and jerky are common formats to showcase vegetables as the main ingredient. Brands are working to streamline their manufacturing processes to deliver products that are as close to raw as possible, with flavors that appeal to kids and adults alike.

ON RETAIL SHELVES:

Crunchy sweet potato biscuits made with brewers’ spent grain flour, flavored with rosemary and hazelnuts (France)Spanish tomato-flavored tapioca chips, serving as a source of calcium and iron (India)Corn-flavored plant-based ice cream, made with non-GMO corn (China)

Vegetable-driven menu items and product offerings are emerging all over the world, showcasing how vegetables can be tasty, indulgent and fun. They can attract not just to vegetarian and vegan diners, but flexitarians as well. And for regions with less direct access to fresh produce, packaged, canned and frozen vegetable items can help bring nutrient-rich options to an underserved population.

3 PERFECT BITES

FOODSERVICE:

Fine dining is leading the charge in developing creative dishes that celebrate whole vegetables at the center of the plate, but we’re seeing innovation across segments.

PROTEIN PROCESSORS:

Brands are experimenting with vegetable-forward meat alternatives that celebrate the integrity of the original ingredient, incorporating a variety of vegetables.

SNACKING:

Simple preparations (e.g. roasting and drying) are being used to preserve the nutrients in vegetable-based snacks, along with “hidden” ingredients to introduce more regular vegetables into diets.

PERFECTLY PLANT-BASED

Celebrate vegetables as a center-of-the-plate focus with Chef Andy Jones’ delicious Bhuna Baked Cauliflower, which is made with Griffith Foods Indian Spice Rub and Bhuna Sauce. This beautiful plant-based entrée is truly a showstopper!

CREATE AND INNOVATE

WHOLE INGREDIENT “SEAFOOD” SWAPS

Marinated celery root rounds serve as a playful take on plant-based seafood. They’re marinated and initially cooked sous vide style, then seared to perfection to intensify flavor.

Celery Root “Scallops”

Seared soy-miso celery root “scallops” served over a delicate ginger, garlic and shallot-forward celery root purée.

TAKE IT TO THE NEXT LEVEL

Thanks to exciting cooking methods and flavor profiles, today’s vegetable dishes are anything but boring. Contact your Griffith Foods representative to learn how our versatile products can enhance your culinary creations.

Seasonings

Authentic spices, tart flavors and richly satisfying notes come alive thanks to our topical seasonings, marinades and brines—perfect for enhancing veggie-forward dishes.

Chili and Tamarind GlazeMongolian Broccoli Stir-Fry SeasoningOld-World Polish Dill Brine

Sauces and Dressings

Whether you’re looking to replicate meaty flavors or differentiate classic vegetable sides, our sauces and dressings offer impressive versatility.

Szechuan Eggplant GlazeVegan “Ossobuco” Cooking SauceApple Cider Glaze for Roasted Vegetables

Textures and Coatings

Fried vegetables are in high demand. Our batters and coatings can help you achieve anything from a delicate crisp to a hearty, satisfying crunch.

Wakame Tempura BatterVegetable Pakora Batter

FUTURE BITES

Vegetable-forward products and dishes are going “back to basics” and focusing on their roots. What’s coming next?

BOOSTING SATISFACTION:

Protein brands are only scratching the surface of what can be achieved by utilizing whole, unprocessed vegetables. The next stage of development is demonstrating recipes that are just as satisfying as animal proteins.

NUTRIENT PRESERVATION:

For snack brands, exploring innovative processes will help to better preserve vitamins and nutrients inherently found in vegetables. More focus will be placed on communicating micronutrients that veggie snacks can provide.

SEGMENT GROWTH:

Seeing the success of vegetable-forward menu items in fine dining and local establishments, more QSR and fast casual brands will expand their offerings to accommodate demand.
 

Sources:
Bret Thorn, “New on the Menu: Eggplant standing in for short ribs and a crabcake Wellington,” Restaurant Hospitality, August 18, 2023.
Mintel, 2024 FlavorIQ® Food and Flavor Outlook Report, January 2024.
Rob Corliss, “Vegetables on Fire,” Flavor and the Menu, July 12, 2023.

View original content here.

Despite being sustainable, nutritious and delicious, vegetables are often relegated to side dishes instead of center of the plate. No longer an afterthought, it’s time for vegetables to shine!

Today, many brands and chefs are looking at the plant-based revolution from a new perspective, taking a simpler approach that puts vegetables in a leading role. Vegetables are being elevated through flavor-boosting preparations such as fermenting, pickling, grilling and roasting.

An area where we’re seeing a clear shift toward whole-food formulations is in the alternative protein market, where vegetable-centric options are popping up alongside the plant-based meat analogues. Ingredients such as cauliflower, jackfruit, artichokes and beets are prominently displayed on ingredient labels and menus, often supplemented with nutritious chickpeas, yellow peas and quinoa.

IN THE PROTEIN SPACE:

Eggplant pâté, positioned as gluten-free and supplemented with green banana (Brazil)Mushroom meatballs, made with lion’s mane mushrooms, seasonings and non-GMO soybeans (Taiwan)Buffalo jack wings, a vegan option with whole jackfruit as the first ingredient (US)

In foodservice, chefs are taking advantage of seasonality to reinvent menu items with a vegetable-forward twist—think dishes like short ribs made with braised eggplant instead of beef. Vegetarian tasting menus take this creativity even further, celebrating the versatility of vegetables across preparation types and flavor profiles. This approach also helps to minimize food waste, with stems, leaves and bruised produce being repurposed into items like sauces and purées.

ON THE MENU:

Glazed turnips with turnip leaf onion sauce, hazelnut miso butter and togarashi pickles (US)Braised morchella with soy “brisket,” radish and golden tremella, served with kale rice (Hong Kong)Celery root shawarma with spinach pâté and fermented tomato (UK)

For the snack category, crisps, chips and jerky are common formats to showcase vegetables as the main ingredient. Brands are working to streamline their manufacturing processes to deliver products that are as close to raw as possible, with flavors that appeal to kids and adults alike.

ON RETAIL SHELVES:

Crunchy sweet potato biscuits made with brewers’ spent grain flour, flavored with rosemary and hazelnuts (France)Spanish tomato-flavored tapioca chips, serving as a source of calcium and iron (India)Corn-flavored plant-based ice cream, made with non-GMO corn (China)

Vegetable-driven menu items and product offerings are emerging all over the world, showcasing how vegetables can be tasty, indulgent and fun. They can attract not just to vegetarian and vegan diners, but flexitarians as well. And for regions with less direct access to fresh produce, packaged, canned and frozen vegetable items can help bring nutrient-rich options to an underserved population.

3 PERFECT BITES

FOODSERVICE:

Fine dining is leading the charge in developing creative dishes that celebrate whole vegetables at the center of the plate, but we’re seeing innovation across segments.

PROTEIN PROCESSORS:

Brands are experimenting with vegetable-forward meat alternatives that celebrate the integrity of the original ingredient, incorporating a variety of vegetables.

SNACKING:

Simple preparations (e.g. roasting and drying) are being used to preserve the nutrients in vegetable-based snacks, along with “hidden” ingredients to introduce more regular vegetables into diets.

PERFECTLY PLANT-BASED

Celebrate vegetables as a center-of-the-plate focus with Chef Andy Jones’ delicious Bhuna Baked Cauliflower, which is made with Griffith Foods Indian Spice Rub and Bhuna Sauce. This beautiful plant-based entrée is truly a showstopper!

CREATE AND INNOVATE

WHOLE INGREDIENT “SEAFOOD” SWAPS

Marinated celery root rounds serve as a playful take on plant-based seafood. They’re marinated and initially cooked sous vide style, then seared to perfection to intensify flavor.

Celery Root “Scallops”

Seared soy-miso celery root “scallops” served over a delicate ginger, garlic and shallot-forward celery root purée.

TAKE IT TO THE NEXT LEVEL

Thanks to exciting cooking methods and flavor profiles, today’s vegetable dishes are anything but boring. Contact your Griffith Foods representative to learn how our versatile products can enhance your culinary creations.

Seasonings

Authentic spices, tart flavors and richly satisfying notes come alive thanks to our topical seasonings, marinades and brines—perfect for enhancing veggie-forward dishes.

Chili and Tamarind GlazeMongolian Broccoli Stir-Fry SeasoningOld-World Polish Dill Brine

Sauces and Dressings

Whether you’re looking to replicate meaty flavors or differentiate classic vegetable sides, our sauces and dressings offer impressive versatility.

Szechuan Eggplant GlazeVegan “Ossobuco” Cooking SauceApple Cider Glaze for Roasted Vegetables

Textures and Coatings

Fried vegetables are in high demand. Our batters and coatings can help you achieve anything from a delicate crisp to a hearty, satisfying crunch.

Wakame Tempura BatterVegetable Pakora Batter

FUTURE BITES

Vegetable-forward products and dishes are going “back to basics” and focusing on their roots. What’s coming next?

BOOSTING SATISFACTION:

Protein brands are only scratching the surface of what can be achieved by utilizing whole, unprocessed vegetables. The next stage of development is demonstrating recipes that are just as satisfying as animal proteins.

NUTRIENT PRESERVATION:

For snack brands, exploring innovative processes will help to better preserve vitamins and nutrients inherently found in vegetables. More focus will be placed on communicating micronutrients that veggie snacks can provide.

SEGMENT GROWTH:

Seeing the success of vegetable-forward menu items in fine dining and local establishments, more QSR and fast casual brands will expand their offerings to accommodate demand.
 

Sources:
Bret Thorn, “New on the Menu: Eggplant standing in for short ribs and a crabcake Wellington,” Restaurant Hospitality, August 18, 2023.
Mintel, 2024 FlavorIQ® Food and Flavor Outlook Report, January 2024.
Rob Corliss, “Vegetables on Fire,” Flavor and the Menu, July 12, 2023.

View original content here.

Kate Mead| Investment Strategist—Equity Business Development

Amelia Sexton, CFA| Director of ESG Strategy & Operations—Client Group

Active management can help investors address some of the especially tricky issues in sustainable equity portfolios. 

Investors with an environmental, social and governance (ESG) focus are increasingly leaning toward passive portfolios, which may seem to offer the simplicity they crave in a complex market landscape. But the path to passive is fraught with risks, particularly when it comes to sustainable strategies.

Passive portfolios continue to gain traction. In 2023, for the first time, equity assets managed by passive funds overtook actively managed assets, according to Morningstar data. The trend hasn’t been as acute for sustainable portfolios. Yet passive sustainable equity funds globally attracted $52.6 billion of inflows in 2023, while active sustainable funds bled nearly $16.7 billion, according to Morningstar (Display).

Is this the start of a rush toward passive sustainable funds? It’s too soon to say. Active funds still comprise the lion’s share of sustainable equity assets managed globally, worth $1.87 trillion. But we do know that it can be hard to compare active strategies amid different definitions of sustainability and diverse investing processes. And evolving ESG regulation, which may be intended to simplify sustainable investing, often adds to the confusion. As investors consider their options, we think the pros and cons of each approach deserve a closer look.

The Pull to Passive: Fees and Ease

The appeals of passive are well known. Passive portfolios offer lower fees than active peers and are typically based on a clear index-construction methodology that provides easy access to market returns. Investors can easily find a passive portfolio aligned with their individual preferences, given the explosion of specialized benchmarks in recent years.

For sustainable investors, the presumed simplicity of passive options might appear to be a suitable antidote to confusion over ESG regulation and the complexity of active options and diverse methodologies. But the simplicity of passive portfolios may be overstated. We believe that, in a rapidly changing environment, active portfolios offer several clear benefits for sustainable equity portfolios.

Evaluating Active Advantages in Sustainable Equities

Looking forward, not back. Passive portfolios are typically built to mimic an index. But benchmarks are inherently backward looking, as constituent weights are set based on their market capitalization, which reflects past performance. As a result, the largest weights aren’t necessarily the best opportunities. In our view, active managers are better equipped with research tools to identify structural growth opportunities and develop strategic outlooks for individual businesses. This enables them to position selectively in sustainable companies with ESG profiles that are forward-looking and aligned with an investment strategy, while offering attractive long-term return potential.

Fundamental analysis provides an ESG edge. Third-party ESG metrics are useful but have well-documented flaws. Providers may deliver very different ESG verdicts about the same company. And weightings attributed to each of the three ESG components may skew the outcome; for example, a strong governance score could outweigh a poor environmental score and paint a rosier picture of a company than it deserves—or vice versa.

Passive strategies rely on these types of ratings to construct portfolios. We believe ESG ratings are a helpful starting reference point, from which active managers can conduct their own research to determine a company’s sustainability credentials based on a clear investing philosophy—and decide how these fit into an overall risk/reward outlook.

Engaging for positive change. Active equity managers are typically longer-term investors who are interested in strategically engaging with the management of companies held in the portfolio. Focused engagement with executives on financially material ESG issues affords an opportunity to influence corporate behavior and promote positive change that can add shareholder value over time. We believe these types of interactions, combined with an active proxy voting policy, can be more fruitful for an active manager. While passive investors may possess voting power, they don’t usually have the same incentives to wield influence, given the breadth of their exposure and the shorter length of their holding period.

More diversification of return streams. Much has been said about the domination of the so-called Magnificent Seven stocks in equity markets. In some cases, ESG-focused benchmarks, which passive portfolios seek to replicate, are even more concentrated—particularly in the US. For example, the 10 largest stocks in the two key S&P ESG benchmarks accounted for more than 40% of the index weight—far more than the 31% weight of the 10 largest in the broad S&P 500. Popular global ESG benchmarks are less concentrated but feature many of the same names among their biggest holdings, including several US mega-caps (Display).

Passive portfolios that track a concentrated index will similarly hold large positions in a small group of companies. In our view, high concentration exposes investors to crowding risk if sentiment toward the dominant group of stocks sours. Concentration can also create unintended skews toward certain sectors and equity styles. Active managers can create portfolios with more diversified sources of returns to reduce these vulnerabilities.

Does the Portfolio Meet Your Sustainable Mandate?

Given the similarities between ESG and traditional benchmarks, investors may not actually be meeting their defined sustainability goals in an index-tracking fund. While passive portfolios do have a role to play in a wider sustainable allocation, we don’t think they can do the job alone. In our view, active strategies can function as a standalone ESG portfolio or as a complementary component of a core/satellite construction, for investors who prefer a passive anchor to market returns.

When assembling an allocation, investors should first clearly define their sustainability and financial goals. Then, they should search for active managers whose philosophy is aligned with those objectives and who offer transparency via clear, repeatable investment processes.

Not every active manager has the requisite skill to capture sustainable equity returns. We think effective active portfolios must integrate ESG research with fundamental analysis to target companies with long-term business advantages. With a well-defined approach, equity portfolios can selectively capture sources of market-beating returns that actively overcome the hurdles to sustainable investing success.

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.

References to specific securities discussed are for illustrative purposes only and are not to be considered recommendations by AllianceBernstein L.P.

Learn more about AB’s approach to responsibility here.

Kate Mead| Investment Strategist—Equity Business Development

Amelia Sexton, CFA| Director of ESG Strategy & Operations—Client Group

Active management can help investors address some of the especially tricky issues in sustainable equity portfolios. 

Investors with an environmental, social and governance (ESG) focus are increasingly leaning toward passive portfolios, which may seem to offer the simplicity they crave in a complex market landscape. But the path to passive is fraught with risks, particularly when it comes to sustainable strategies.

Passive portfolios continue to gain traction. In 2023, for the first time, equity assets managed by passive funds overtook actively managed assets, according to Morningstar data. The trend hasn’t been as acute for sustainable portfolios. Yet passive sustainable equity funds globally attracted $52.6 billion of inflows in 2023, while active sustainable funds bled nearly $16.7 billion, according to Morningstar (Display).

Is this the start of a rush toward passive sustainable funds? It’s too soon to say. Active funds still comprise the lion’s share of sustainable equity assets managed globally, worth $1.87 trillion. But we do know that it can be hard to compare active strategies amid different definitions of sustainability and diverse investing processes. And evolving ESG regulation, which may be intended to simplify sustainable investing, often adds to the confusion. As investors consider their options, we think the pros and cons of each approach deserve a closer look.

The Pull to Passive: Fees and Ease

The appeals of passive are well known. Passive portfolios offer lower fees than active peers and are typically based on a clear index-construction methodology that provides easy access to market returns. Investors can easily find a passive portfolio aligned with their individual preferences, given the explosion of specialized benchmarks in recent years.

For sustainable investors, the presumed simplicity of passive options might appear to be a suitable antidote to confusion over ESG regulation and the complexity of active options and diverse methodologies. But the simplicity of passive portfolios may be overstated. We believe that, in a rapidly changing environment, active portfolios offer several clear benefits for sustainable equity portfolios.

Evaluating Active Advantages in Sustainable Equities

Looking forward, not back. Passive portfolios are typically built to mimic an index. But benchmarks are inherently backward looking, as constituent weights are set based on their market capitalization, which reflects past performance. As a result, the largest weights aren’t necessarily the best opportunities. In our view, active managers are better equipped with research tools to identify structural growth opportunities and develop strategic outlooks for individual businesses. This enables them to position selectively in sustainable companies with ESG profiles that are forward-looking and aligned with an investment strategy, while offering attractive long-term return potential.

Fundamental analysis provides an ESG edge. Third-party ESG metrics are useful but have well-documented flaws. Providers may deliver very different ESG verdicts about the same company. And weightings attributed to each of the three ESG components may skew the outcome; for example, a strong governance score could outweigh a poor environmental score and paint a rosier picture of a company than it deserves—or vice versa.

Passive strategies rely on these types of ratings to construct portfolios. We believe ESG ratings are a helpful starting reference point, from which active managers can conduct their own research to determine a company’s sustainability credentials based on a clear investing philosophy—and decide how these fit into an overall risk/reward outlook.

Engaging for positive change. Active equity managers are typically longer-term investors who are interested in strategically engaging with the management of companies held in the portfolio. Focused engagement with executives on financially material ESG issues affords an opportunity to influence corporate behavior and promote positive change that can add shareholder value over time. We believe these types of interactions, combined with an active proxy voting policy, can be more fruitful for an active manager. While passive investors may possess voting power, they don’t usually have the same incentives to wield influence, given the breadth of their exposure and the shorter length of their holding period.

More diversification of return streams. Much has been said about the domination of the so-called Magnificent Seven stocks in equity markets. In some cases, ESG-focused benchmarks, which passive portfolios seek to replicate, are even more concentrated—particularly in the US. For example, the 10 largest stocks in the two key S&P ESG benchmarks accounted for more than 40% of the index weight—far more than the 31% weight of the 10 largest in the broad S&P 500. Popular global ESG benchmarks are less concentrated but feature many of the same names among their biggest holdings, including several US mega-caps (Display).

Passive portfolios that track a concentrated index will similarly hold large positions in a small group of companies. In our view, high concentration exposes investors to crowding risk if sentiment toward the dominant group of stocks sours. Concentration can also create unintended skews toward certain sectors and equity styles. Active managers can create portfolios with more diversified sources of returns to reduce these vulnerabilities.

Does the Portfolio Meet Your Sustainable Mandate?

Given the similarities between ESG and traditional benchmarks, investors may not actually be meeting their defined sustainability goals in an index-tracking fund. While passive portfolios do have a role to play in a wider sustainable allocation, we don’t think they can do the job alone. In our view, active strategies can function as a standalone ESG portfolio or as a complementary component of a core/satellite construction, for investors who prefer a passive anchor to market returns.

When assembling an allocation, investors should first clearly define their sustainability and financial goals. Then, they should search for active managers whose philosophy is aligned with those objectives and who offer transparency via clear, repeatable investment processes.

Not every active manager has the requisite skill to capture sustainable equity returns. We think effective active portfolios must integrate ESG research with fundamental analysis to target companies with long-term business advantages. With a well-defined approach, equity portfolios can selectively capture sources of market-beating returns that actively overcome the hurdles to sustainable investing success.

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.

References to specific securities discussed are for illustrative purposes only and are not to be considered recommendations by AllianceBernstein L.P.

Learn more about AB’s approach to responsibility here.

Las Vegas Sands

Over the past year, the corporate EmpowHER Team Member resource group for women and their allies have hosted “Women in Leadership,” an ongoing speaker series featuring a variety of women leaders who provided inspiration, tools and knowledge to help members advance in their careers.

Held in conjunction with the University of Nevada, Las Vegas, the EmpowHER Team Member resource group’s series included five sessions that began in 2023 with speakers including former first lady of Nevada, Lauralyn Sandoval, who spoke about building confidence; former Las Vegas mayor, Jan Jones Blackhurst, who provided guidance on mastering communication; gaming and hospitality executive, Kim Sinatra, who addressed the misperceptions of self-perception; speaker, trainer and writer, Punam Mathur, who provided insights on emotional intelligence; and vice president of global marketing for Gaming Laboratories International, Christie Eickelman, who outlined ways to spur innovation and creativity.

“The sessions have given me a comfortable environment to learn, self-reflect and explore new ideas, while being inspired by experienced female leaders,” Melissa Grande, Sands’ director of ESG and global sustainability, said.

According to member feedback, participants found the EmpowHER Team Member resource group’s speaker series to be beneficial for their current day-to-day responsibilities and inspiring for career development, especially with the unique access to sought-after women leaders.

For example, Mathur’s session on emotional intelligence provided relatable insights by demonstrating what it means to communicate effectively and confidently, leaving participants inspired to lead by example and with humility, according to one participant.

“I truly believe the Women in Leadership series is a wonderful opportunity for Team Members to take advantage of,” Debbie Morton, IT manager, contracts and assets, at Sands, said. “The series is a mentorship program on its own and embodies our company culture to foster opportunities for growth. The most recent session (a fireside chat with Sands board member Micheline Chau) gave me a renewed sense of confidence and enablement to do more and be more.”

EmpowHER will continue the speaker series this year with planned topics such as relating to different personality profiles, navigating team dynamics and resolving conflicts, among others.

In addition to the speaker series, EmpowHER provides members with mentoring, networking and volunteering opportunities to create a cohesive community and promote career development. The employee-led group is sponsored by Sands as part of the company’s commitment to ensuring a culture that celebrates the strengths of diverse groups and provides opportunities for growth and advancement.

To learn more about Sands’ comprehensive diversity, equity and inclusion initiatives in the workplace and with local communities and suppliers, read the latest ESG report: https://www.sands.com/resources/reports/