Month: June 2024

Originally published on HBI Sustains

As part of an agreement with FESA, with a goal to prevent youth violence in socially vulnerable areas of the country, in 2014 HanesBrands ground on its sports complex “Viviendo Verde” (Green for Good) at its Textiles and Socks site in San Juan Opico, El Salvador. Funded by its Green for Good program, the complex now consists of a high-quality soccer field, basketball courts and volleyball fields.

HanesBrands launched its global Green for Good program in 2010 – a unique project that uses savings from its recycling efforts to fund vital community improvement projects. 

“We know that by promoting sports, we contribute to shaping better citizens, who are more committed to the principles of teamwork, solidarity and discipline, and will hold strong values necessary to build a better El Salvador,” said Ingrid Sánchez Landos, superintendent of sustainability – HanesBrands El Salvador.

This partnership creates opportunities where local schools lack sports infrastructure. For both soccer academies, FESA provided all the support for sports training, including physical trainers, nutritionists and psychologists, to foster the resilience and values of the students.

“This was the first time that FESA launched a soccer school in alliance with a textile company in these locations,” said Jorge Bahaia, president of FESA.

More than a dozen students from HanesBrands’ soccer schools have demonstrated strong athletic abilities and now are playing in the professional national league, with five of them receiving school and university grants.

Mauricio Guzmán, a seventh grader at FESA’s high-performing school for athletes said, “We are thankful to HanesBrands for granting us the opportunity to improve our athletic performance while we play, learn values, and help us reach our dreams.”

HanesBrands wants to build on decades of effort and continue being a positive force within our global communities, where 48,000 of us live, work and play. This important community work is an integral part of how we will contribute to improving the lives of at least 10 million people by 2030.

As the global demand for sustainable practices continues to grow alongside emerging regulation such as EUDR, ensuring environmental sustainability within various industries has never been more crucial. We are excited to share insights from our recent Sustainable Supply Chain Initiative Webinar Series, where we introduced the new Environmental Sustainability Benchmark. This benchmark, designed by the industry for the industry, aims to build trust, confidence, and clarity in expected standards across vital areas, including farming, forestry, and manufacturing.

In this informative session, held on June 20, 2024, industry leaders and experts came together to discuss the significance and development of the new benchmark. The webinar featured insights from representatives of the International Fresh Produce Association, Naturipe Farms and IDH (the Sustainable Trade Initiative). These experts provided valuable perspectives on the benchmark’s core topics, its implications for industry schemes, and the collaborative efforts involved in its creation.

Key Highlights:

Benchmark Genesis and Significance: The webinar began with an explanation of the benchmark’s genesis and its relevance in today’s regulatory landscape, especially with emerging EUDR regulations.Industry-Driven Design: Speakers highlighted the industry-driven design of the benchmark, emphasizing the importance of collaboration in setting and maintaining high sustainability standards.Scheme Alignment and Next Steps: Practical guidance was provided on how industry schemes can align with the benchmark criteria, with a focus on opportunities for benchmarking and recognition to support continuous improvement.Interactive Q&A Session: Attendees had the opportunity to engage with the panelists, ask questions, and gain deeper insights into the practical applications and benefits of the benchmark.

To learn more about the new environmental sustainability benchmark, download the criteria, and apply for recognition, visit benchmark.tcgfssci.com.

Press play to watch the full webinar recording and gain valuable insights into the future of environmental sustainability in our industry.

By using recognised schemes for social and environmental sustainability, businesses can benefit from the trust and assurance that SSCI Recognised standards meet the minimum requirements for sustainability as agreed upon by the industry. Join us in driving the global conversation on responsible sourcing and shaping industry expectations for a sustainable future.

PNC’s success is dependent upon our ability to create long-term value for all our stakeholders. Our unwavering focus on smart risk management and old-fashioned, relationshipbased customer service builds the foundation from which we can then engage deeply and meaningfully across the many constituencies we serve. We are active partners in strengthening our communities. We invest in building an inclusive workplace where all employees are heard and valued and can do their best work. We offer our clients practical, actionable advice for a rapidly changing world. We also provide the kind of steady, even-keeled management that gives our investors trust in our governance, management, business strategy and day-to-day operations.

It may not sound flashy, but our clients, investors, communities and employees know they can trust and rely on us to do right by them, market by market, coast to coast.

Building a more inclusive financial services system is a high priority for us and we continued to help our customers progress confidently in their financial journeys. We’re more than halfway to fulfillment of our $88 billion Community Benefits Plan to improve economic opportunities in low- and moderate-income (LMI) communities through new investments in homeownership, entrepreneurship and revitalization efforts. As of December 2023, we deployed $56 billion, nearly 64 percent of the total amount committed.

Our mobile branches completed more than 1,500 deployments, driving over 57,000 miles in 2023. This reach has positively impacted nearly 9,000 individuals through collaboration with more than 80 community organizations. We also served more than 27,447 LMI individuals via 1,584 financial education classes. And since 2021, PNC has reduced overdraft fees by more than 60 percent, saving our customers more than $672 million.

When our customers, communities, shareholders and employees flourish, we flourish. We know that being good environmental stewards is essential to supporting a high quality of life for our stakeholders. That’s why in 2023, we mobilized more than $7 billion in client environmental financing, cumulatively bringing us to $22.9 billion toward our $30 billion Environmental Finance Pledge. In addition, 2023 marks the first time that we disclosed our financed emissions using the methodology available through our membership in the Partnership for Carbon Accounting Financials (PCAF).

None these accomplishments would be possible without the dedication and strength of PNC’s 56,000-plus colleagues across the company who work each day to deliver for all our stakeholders.

Highlights for 2023 include:

5,000+ employees have enrolled in academic programs though PNC’s education benefit since the program expansion in late 202283,433 volunteer hours were completed by employees5,243 employees served as Certified Women’s Business Advocates31% of employees participated in PNC’s Employee Business Resource Groups (EBRGs)$56 billion of PNC’s $88 billion Community Benefits Plan has been deployed in the first two years of the plan, including:$38.3 billion to affordable homeownership (of $47 billion commitment)$9.8 billion to small business loans (of $26.5 billion commitment)$7.9 billion to community financing (of $14.5 billion commitment)$249.8 million in charitable giving (of $500 million commitment)$352.3 million spent with diverse suppliers (Tier 1 and Tier 2)1,500 mobile branch deployments traveled over 57,000 miles and impacted nearly 9,000 individuals1,584 financial education classes reached 27,447 in low- and moderate-income (LMI) individuals$672 million has been saved by our customers in overdraft fees using the features of Low Cash Mode® and through our pricing changes$6.48 billion in responsible investing assets were under management$22.9 billion was deployed toward our $30 billion environmental finance pledge, since the pledge announcementProgress was made on PNC’s operational targets by reducing energy use by 11%; carbon emissions by 10% and water by 4%48% of our renewable electricity purchased target was achieved (out of our 100% goal by 2025)Disclosed our financed emissions for the first timeEnhanced our capabilities related to data breach laws and regulations to PNC’s privacy program.Expanded our customer awareness campaign across online, social media and digital banking channels, helping customers recognize and prevent potential threats. This includes new content and alerts within the Zelle® experience in our mobile app and on our website, to help customers identify common peer-to-peer payment scams.

Media Contact: Kristen Pillitteri, SVP, Communications Director, Corporate Responsibility

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In this episode of ESG Talk, Brett Weaver, tax leader for the ESG Practice at KPMG US, joins Workiva’s Andie Wood to discuss everyone’s favorite topic. Together they explore how tax acts as both a driver and measure of sustainability, taking advantage of green tax incentives, and the different approaches to tax policy in the United States and Europe.

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Looking for more? Subscribe to the ESG Talk podcast on Apple, Spotify, and YouTube.

ESG Talk is brought to you by Workiva, the world’s only unified platform for financial reporting, ESG, audit, and risk. Learn more at workiva.com.

This spring, 10 interns with Fifth Third’s Project SEARCH program graduated, richer in knowledge, skills and work experience – and ready to take on gainful employment.

Project SEARCH, a one-year transition program for high school students with disabilities, aims to provide participants with marketable and transferable skills. Fifth Third’s program operates at the Bank’s Madisonville campus in Cincinnati.

Todd Reese, document custody administration manager, spoke at this year’s graduation about the positive impact Project SEARCH interns make on his team, the strides the interns made during their rotation in his department and the interns who have gone on to become full-time Bank employees.

“In the Document Management group, we’ve hired six Project SEARCH interns into full-time positions over the last 15 years,” Reese said. “This year, I was proud to point out that one of those graduates facilitates the rotation for the intern program in our group, bringing everything full circle. He is a shining example for the current students on what success looks like and what they can achieve.”

ABLE Account Panel

Recently, Mitch Morgan, director of inclusion, participated as an employer advocate in a panel discussion on the Achieving a Better Life Experience, or ABLE, checking account. In certain state-sponsored ABLE programs, the Fifth Third ABLE checking account allows those with disabilities to save for their future and pay for qualified disability-related expenses.

The panel was held by Ascensus, the third-party with which the Bank partners on its ABLE checking account. Ascensus has established a relationship with Project SEARCH to help build awareness around the product for program interns as they work toward gaining competitive employment after graduation.

“The panel discussion allowed participants to gain insight from those who use the ABLE checking account, how they use the plan, choose the program and spread the word.” Morgan said. “We also talked about challenges and future enhancements to the program.”

Fifth Third’s ABLE checking program offers all the features of a traditional checking account, including a debit card, checks, access to more than 50,000 fee-free ATMs nationwide and more, making it easier for people with disabilities to manage their accounts and pay for their expenses.

The program also features a notched ABLE Debit Card, with a physical notch in the card, which assists visually impaired customers in easily identifying the card and helping ensure the card is inserted correctly into ATMs and PIN pads.

Fifth Third’s ABLE checking account aligns both with the Bank’s commitment to inclusion and as a leading supporter of the disability community. It was created, in part, with feedback from the Individuals with Disabilities Business Resource Group and Project SEARCH.

About Project SEARCH

Fifth Third’s Project SEARCH program is a collaborative effort with Cincinnati Children’s Hospital Medical Center and multiple high schools, community partners and state vocational rehabilitation agencies. Each organization is an active partner in providing vocational training and employment for people with disabilities. Fifth Third is among more than 700 sites worldwide to host a Project SEARCH program.

Through the program, created in Cincinnati in 1996, students with cognitive disabilities gain experience building transferable work skills. By providing training and education, the program teaches interns skills they can use for gainful employment upon graduating.

Since 2005, Fifth Third Bank’s Project SEARCH program has provided interactive learning opportunities to over 400 interns, preparing them for gainful employment. Of those, 36 are now Bank employees.

Originally published on bloomberg.com

Bloomberg announced the release of new tools to help investors measure, manage and report on the sustainability characteristics of investment portfolios. The tools are accessible within Bloomberg’s widely-used portfolio and risk analytics solutions, PORT, which is available to all Terminal users, and the premium offering PORT Enterprise, for those seeking an integrated enterprise reporting solution.

With the diversification of sustainable investment strategies coupled with evolving regulatory frameworks, investors need portfolio management solutions that include sustainability tools in order to make well-informed decisions, meet investment mandates and comply with regulatory reporting requirements.

To address this need, PORT and PORT Enterprise incorporate Bloomberg’s high quality and transparent ESG datasets, including key ESG indicators mandated under the EU Sustainable Finance Disclosure Regulation (SFDR), greenhouse gas emissions for over 130,000 global public and private companies, and Bloomberg’s proprietary ESG scores used to assess company performance and disclosure. With a new dedicated ESG screen in PORT, users have the ability to easily compare portfolios, funds and indices using granular sustainability data on each holding. Users can identify the holdings or positions that are not in line with their ESG objectives and can also perform trend analysis.

The reporting capabilities of PORT Enterprise have been expanded to include the newly-released standardized SFDR report per ESMA’s template, in addition to fully customizable sustainability reports, to help clients disclose their sustainability metrics and meet EU regulatory requirements.

Soojin Lee, Head of ESG Integration and Analytics at Bloomberg, said: “Investors need increasingly sophisticated solutions to identify sustainability-related risks and opportunities, and meet their objectives and obligations. Bloomberg’s expanded PORT offering enables clients to manage and conduct detailed sustainability analysis on their portfolios, all in one place and through the click of a button. To ensure data consistency across the investment management process, from decision-making to reporting, clients can also access standardized reporting templates, or design their own reports with our PORT Enterprise functionality.”

Bloomberg’s sustainable finance solutions span ESG data and analytics, indices, scores, regulatory solutions, sustainable debt and climate risk. In addition, Bloomberg Terminal users also have access to ESG research from Bloomberg Intelligence and BloombergNEF. Clients can readily access ESG data on the Bloomberg Terminal via {ESGD <GO>} or across their enterprise via Data License at data.Bloomberg.com for use in proprietary or third-party applications in their cloud environment of choice. Through Data License Plus (DL+) ESG Manager, Bloomberg connects customers’ ESG data workflows to the full power of Bloomberg’s datasets as well as data from vendor partners, so clients can unlock maximum value with ease. For more information, visit Bloomberg Sustainable Finance Solutions.

Bloomberg’s portfolio and risk analytics solutions encompass PORT Enterprise for scalable enterprise usage and PORT for ad-hoc portfolio analysis on the Terminal. With 47,000 active users across 15,000 firms globally, PORT empowers clients to gain deeper portfolio insights through streamlined workflows that include intraday performance monitoring, historical performance attribution, risk forecasting and optimization. PORT Enterprise is a premium offering with more than 650 clients that provides sophisticated risk and return attribution capabilities with enhanced customization and batch reporting for enterprise usage. Access to Bloomberg’s Multi-Asset Class (MAC3) fundamental risk factor models provides clients with the most advanced suite of risk forecasting, including Tracking Error volatility, VAR, and scenario analysis. PORT Enterprise and PORT are part of Bloomberg Buy-Side Solutions, which deliver front-to-back technology across the investment lifecycle. For more information, visit Bloomberg Buy-Side Solutions.

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 Contacts 
EMEA – Anna Schoeffler, aschoeffler1@bloomberg.net, +33 6 75 54 70 92 
U.S. – Casey Sheets, csheets8@bloomberg.net, +1 212 617 6463