Month: January 2025

CALGARY, Alberta, January 16, 2025 /3BL/ – Benevity, Inc., the market-leading global provider of social impact software, today released The Executive CSR Report, detailing new research that shows increased executive commitments to corporate social responsibility in the year to come. The report from Benevity’s research hub, Benevity Impact Labs, shows that 76% of executives plan to increase investment, despite growing public scrutiny around CSR and environmental, social, and governance (ESG) commitments. The data also highlights that CSR is evolving from a siloed function to business critical and integrated into operations, as executives increasingly see it as a way to achieve business goals. 

Among other trends, this report highlights the criticality of measurement in the current socio-political context. A third of leaders (32%) say measuring the social impact of their CSR initiatives is equally important to their company as measuring the business impact and improving measurement is needed to enhance accountability amid heightened scrutiny.

To understand executive sentiment toward CSR, Benevity Impact Labs surveyed 500 full-time leaders at the VP level and above in the U.S. and U.K. who work at companies with over $1B/£1B in annual revenue and with a level of insight and responsibility into their company’s CSR initiative planning and management. Other key findings from the study include:

Increased CSR investment is on the horizon: Nearly a third of executives say they are currently allocating more than 10% of their total corporate budget to CSR, with 47% allocating between 6-10%. 15% of respondents anticipate more than a 15% increase in CSR budgets over the next year.CSR aligns with core business goals: Among companies increasing their CSR investments, 43% cite direct business ROI as the driving factor. Employee interest in working for companies with impactful CSR programs (53%) and consumer demand for brands that invest in CSR (49%) are also top motivators.Top investment areas focus on employees and ethical AI: Over the next 12 months, 52% of executives plan to increase support for employee resource groups (ERGs), while 44% will boost efforts to encourage employee volunteerism. Additionally, 40% intend to enhance their focus on developing ethical business practices around AI during this same time period.Measuring CSR impact is critical: While investments in CSR are on the rise, and almost half (47%) of executives strongly agree their company’s CSR initiatives are creating a positive business impact, the same percentage said CSR initiatives can be difficult to push forward because of low perceived value. 52% said competition for funds is a top obstacle. This gap shows the value of CSR initiatives remains a challenge for senior leaders and underscores the need for stronger measurement.Strategic leadership is the key to aligning CSR with business outcomes: Only 15% of leaders surveyed said they have helped set clear targets to make the impact of CSR initiatives a measurable business priority in the past 12 months. As the need for strategic oversight grows, robust planning and measurement systems will be crucial for ensuring CSR’s continued success.The U.K. excels in CSR compared to the U.S.: U.K. leaders dedicate more of their annual budgets to CSR than U.S. leaders, with 55% of U.K. leaders allocating 6-10% compared to 42% of U.S. leaders. Additionally, U.K. leaders are more likely than U.S. leaders (50% vs. 39%) to attribute increased CSR investments to direct business ROI, indicating U.K. organizations may secure CSR budgets more effectively by adopting a more business-aligned approach.

“Our data shows that even in today’s unpredictable socio-political landscape, most executives are increasing their commitments to social investments. This commitment comes with a pressing need to measure the business and social impact of those initiatives,” said Sona Khosla, Benevity’s Chief Impact Officer and head of Benevity Impact Labs. “This urgency for measurement needs to be matched with investment in robust data and reliable tools, but also embedding CSR into the business’s overall strategy with clearly set targets.”

Benevity’s solutions enable businesses to measure their outcomes holistically by embedding purpose-driven initiatives directly into the core of their business operations. Using innovative tools for data analysis and storytelling like Benevity Reporting Studio and Impact Reports, the platform allows company goals to be backed by clear, measurable actions across your organization through giving, volunteering, granting, DEI or sustainability efforts. Leading with data and insights, CSR programs can demonstrate tangible progress and help companies build trust with stakeholders, ultimately enhancing company reputation and brand value.

To learn more, read the Executive CSR Report here.

More information about how Benevity helps companies create and measure social impact programs is available here. 

About Benevity 
Benevity, a certified B Corporation, is the market-leading provider of corporate social responsibility (CSR) solutions supporting corporations around the world to activate their CSR strategies and measure impact. Recognized as one of Fortune’s Impact 20, Benevity offers cloud solutions that power purpose for many iconic brands in ways that better attract, retain and engage today’s diverse workforce, embed social action into their customer experiences and positively impact their communities. Through community investment and employee, customer and nonprofit engagement solutions in over 22 languages, Benevity has processed more than $15 billion in donations and 79 million hours of volunteering time to support 470,000 nonprofits worldwide. The company’s solutions have also facilitated 1.3 million micro-actions and managed 845,000 grants worth $16 billion. For more information, visit benevity.com.

About Benevity Impact Labs 
Benevity Impact Labs is a social innovation lab that brings new data, research and insights to help companies, nonprofits and individuals accelerate their impact and inclusion efforts. With unparalleled access to the world’s most iconic brands, Benevity Impact Labs combines Benevity’s robust data and insights with third-party research to report on the top trends shaping corporate purpose and to provide measurable proof of the value of social impact.

Originally published on Illumina News Center

The platypus is a venomous mammal that lays eggs, can sense electricity, and has 10 sex chromosomes. The tuatara is a reptile from a lineage that evolved before most dinosaurs (and all lizards). The bluehead wrasse is a fish that can change sex. And the Loch Ness monster is, according to the most popular theory explaining over a thousand sightings since the 19th century, a Jurassic-era plesiosaur—a “living fossil” whose descendants have somehow survived to the present day.

What do these zoological oddities have in common? They’ve all been the research subjects of Professor Neil Gemmell at the University of Otago, New Zealand.

Gemmell first trained as a geneticist in the 1990s, and his interests have always leaned toward the stranger corners of the animal kingdom. So the recent development of environmental DNA (eDNA) collection piqued his interest: All creatures leave behind tiny scraps of DNA in their habitat by nature—skin cells, hair, scales, blood, feces, and so on. By analyzing soil, water, and even air samples, genomic sequencing can reveal an accurate, detailed picture of all the species found there.

A cryptid, or undiscovered animal, must leave behind molecular traces of its presence, same as any other organism. What better way to prove, once and for all, what may be lurking in Loch Ness?

Sequence and ye shall find
In 2016, paleontologist Darren Naish had just published a book on cryptozoology, and Gemmell asked him on social media whether anyone had considered using eDNA sequencing to look for cryptids in Loch Ness.

The discussion didn’t get very far, and Gemmell soon forgot about it—until about six months later, when an article speculating on the feasibility of such a project was published, and soon Gemmell’s phone and inbox were exploding with inquiries. “It was so much attention for this idea,” he says, “more so than for any of the highfaluting science I’d ever done. I’d only opened my mouth and said, ‘Hey, we might be able to do this’—I hadn’t actually done anything yet!”

He leaned into the wave of public interest. Some of his colleagues thought he might’ve lost his mind, but he says “there was an opportunity to explain how you do an experiment. How you test for an idea. I thought we could take people on a journey of discovery…and my kids were pretty excited about it too.”

How eDNA identification works
When you find a random piece of DNA in a water, soil or air sample, how can you tell what it came from—especially if that creature has never been sequenced before? By comparing the DNA to that of other species we have studied.

For decades now, scientists have been sequencing organisms of every shape and size and adding pieces of their genomes and, increasingly, their whole genome, to vast reference libraries. DNA from an unknown animal would show varying similarities to known animals, based on how closely they’re related.

For example: Plesiosaurs were marine reptiles that evolved along a different branch from terrestrial dinosaurs. Plesiosaur DNA would have a lot in common with modern reptiles, but it would diverge in distinct places compared to other creatures it would’ve shared a common ancestor with—turtles, crocodiles, and dinosaurs. In the same way, a previously unknown kind of, say, giant fish or river dolphin would carry some telltale genes from those branches of the tree of life.

The more species whose genomes have been fully described, the more reliable eDNA identification becomes for discovering new ones, or finding them in unexpected habitats. And the more affordable genomic sequencing becomes, the sooner biologists can achieve this goal.

The eel McCoy
In 2018 the idea became a reality, and Professor Gemmel found himself flying across the world to the Scottish Highlands in pursuit of a monster. He and his team set out into the pleasant midsummer weather in the Deepscan, a tour guide boat conscripted for the task, and lowered their cylindrical sampling containers into the murk.

They traveled the loch’s 35-kilometer length, taking just over 250 samples, each consisting of a liter of water sampled, in triplicate, some from close to the loch’s deepest regions, 220 meters below the surface. They even traveled upriver to some connected lochs—Cluanie, Oich, Tarff, and Dun Seilcheig—for good measure.

Once their collection was complete, they took the samples to the University of Hull for DNA extraction, then on to the Université Grenoble Alpes in France, where they worked with Senior Researcher Pierre Taberlet, PhD, to prepare them for sequencing. Gemmell, his University of Otago colleague Gert-Jan Jeunen, and Taberlet then personally drove them to Fasteris in Geneva, which used Illumina technology to conduct metabarcoding, a kind of genomic sequencing that can distinguish and identify many different species from a single sample. “Illumina was really integral to making the project happen,” Gemmell says. “They provided a lot of the sequencing reagents and technology for free, and other partners, like Fasteris, did the same.”

The moment of truth arrived. Had this landmark, first-of-its-kind survey finally revealed a time-lost leviathan?

In a word…no.

In fact, the survey found no reptile DNA of any kind. But it did accurately identify dozens of other species: frogs, toads, ducks, all 13 species of fish known to live in the loch—and plenty of cattle, dog, and human DNA besides. Gemmell explains that the loch sits in the Great Glen, with steep-sided hills and mountains surrounding it that act like a natural funnel, collecting a biological record even from the surrounding land: “We found evidence of species that we knew existed in the area, including some that are reasonably rare or endangered.”

So what accounts for all the monster sightings? Well, the only hypothesis he could dismiss was that the monster is a giant eel. Eels were already known to be plentiful in the loch; their DNA was indeed found at every single location sampled, and their slender, undulating bodies may resemble a humpbacked reptile from a distance. But are there giant eels? Gemmell thinks probably not…but that remains at least a possibility.

Back to the drawing board
Case closed? Of course not.

Nessie’s true believers remain unconvinced by the results, partly because of the project’s necessarily limited scope in what is, by volume, the largest body of water in the British Isles. “Sampling a few hundreds of cubic liters of water is not much in a lake which is estimated to have something like 10 million,” Gemmell admits. He heard other objections, too: “‘You went at the wrong time of year,’ they said. ‘You didn’t look in the right place.’ ‘Nessie was on holiday.’”

It’s true that the first survey lacked an important dimension: It captured a snapshot of the loch’s biodiversity at a single point in time, but its insights could be multiplied by taking further samples on a regular basis.

Water flows northward through the loch and exits to the River Ness (and ultimately the North Sea) at a series of boat locks. Gemmell is now developing a passive eDNA collection system that could be installed in these locks, or even on boats traveling the lake, that would continuously collect and filter samples for sequencing over a year or longer.

He refers to the first survey as a baseline to grow on, for learning how the loch’s environment is changing as a whole. “The power is really unlocked when we go back and sample serially, over time,” he says. “Then we can see if things are changing. Are there ongoing threats?” He mentions one invasive species, pink salmon, which is native to the Pacific but spread to the North Sea from farms in northern Russia, and can now be found in rivers in the UK. Knowing where pink salmon spawn and where they are emerging would help limit their displacement of native species, such as wild Atlantic salmon.

Gemmell is currently seeking sponsorship for “Loch Ness 2.0,” in which he plans to use “shotgun sequencing” rather than targeted sequencing, which can show the proportional change in a species’ population over time—the data could track the spread of new pathogens in the area, and be used to make informed predictions about the ecosystem’s future health.

He maintains that he doesn’t expect to find a monster, but that an updated collection system could accomplish two goals: Shedding further light on the unknown, while serving as a proof of concept that similar studies could be done at scale, to help conservationists understand the biodiversity of ecosystems around the world.

Ultimately, what brings him back to the loch is the enduring mystery it holds in the imagination of so many—the thought of spurring the same excitement he saw in his kids, by telling a fantastic story about science that might reach hundreds or thousands more.

“That’s something we all share as humans,” he says. “A desire to understand our natural world. One of the things I think we may have forgotten is that we are all explorers and discoverers. Each of us makes new observations every day. Working in science, I have the privilege to embark on that journey of discovery every day in the laboratory. And last time around with Loch Ness 1.0, being able to capture that excitement and communicate it to the world was so much fun.” 

Authored by Michael Patti, Darren Jones, Kevin Coonan, and Mark Ross

In 2024, the healthcare industry found itself navigating a pivotal year of transformation and resilience. Rapid advancements in artificial intelligence, a shifting regulatory environment, possible impacts from the presidential election, and the growing threat of cyberattacks underscore the urgency for strategic adaptability. At the same time, economic pressures and an unrelenting wave of mergers and acquisitions highlight the need for efficiency and innovation. As the industry faces these multifaceted challenges, it’s the ability to adapt that will define its future.

Amid these changes, the industry faces sustained economic pressures, grappling with rising costs and complex regulations, making adaptability and strategic planning more essential than ever to continue to protect patients and operations.

The impact of the 2024 presidential election on healthcare

The 2024 presidential election has sparked significant speculation about the future of healthcare policy. Medicare Advantage could see major changes, including a potential shift to make it the default enrollment option, while Medicaid may face stricter eligibility requirements. Changes to the Affordable Care Act are expected to focus on subsidies and compliance adjustments rather than repeal.

Price transparency will remain a priority, with enforcement likely to intensify under the new administration. Providers should continue planning for regulations, such as minimum staffing requirements for nursing facilities, while the life sciences sector navigates uncertainties around the Inflation Reduction Act and CMS drug price negotiations. In this highly regulated and evolving landscape, organizations must stay agile and prepared for what’s ahead.

Cyberattacks: A persistent threat to healthcare

Cyberattacks remain a critical challenge for the healthcare industry, impacting providers, payers and life sciences organizations alike. High-profile breaches have highlighted the vulnerability of organizations of all sizes. As cyber threats become increasingly inevitable, having robust systems to identify, respond to and mitigate breaches is essential. Emphasizing the importance of vendor risk management and comprehensive business continuity planning is crucial to minimize disruptions like claims processing delays and cash flow issues.

From a payer perspective, managing vast amounts of sensitive data adds complexity, emphasizing the need for strong security measures and vendor oversight. In life sciences, the FDA’s recent guidance on cybersecurity for medical devices underscores the growing focus on integrating cybersecurity into quality management systems, particularly for data-driven MedTech innovations.

Across all sectors, the need for up-to-date HIPAA risk assessments and customized compliance plans is critical. Cybersecurity isn’t just about technology—it’s about proactive preparation and workforce training to safeguard patient data and ensure operational continuity in an increasingly targeted industry.

Merger and acquisition trends across healthcare sectors

Mergers and acquisitions (M&A) remain a driving force in reshaping the healthcare industry. In provider systems, there’s a shift from larger entities acquiring smaller hospitals to large-scale system integrations, such as Kaiser’s Ryzen Health initiative. These mega-mergers aim to create geographically diverse systems, though they’re not a fit for every organization. Successful M&A depends heavily on effective integration, which often determines whether anticipated benefits are realized.

For payers, M&A is often driven by economies of scale and competitive leverage as provider systems grow larger. Vertical integration is also on the rise, with companies like UnitedHealth and Elevance acquiring home health and specialty services to streamline operations and align payer-provider dynamics.

In life sciences, smaller-scale acquisitions dominate, targeting niche areas like rare diseases and chronic conditions with genetic or cellular specificity. While blockbuster mergers have waned, the industry is sitting on significant cash reserves—over $230 billion for pharma and another $50-$60 billion for MedTech—poised to drive transformative deals in the future. This could significantly impact the market when deployed, signaling potential shifts in strategy as interest rate impacts subside.

AI in life sciences and healthcare

AI is no longer a buzzword but an active and growing presence in various sectors, particularly in life sciences. AI has had a significant impact on drug discovery, accelerating molecular modeling and identifying ideal drug candidates faster. In clinical development, AI enhances patient-reported outcomes (PROs) by enabling more honest and reliable data capture. As AI evolves, both payers and providers are working to incorporate it into processes like care management, reauthorizations and interactions with patients.

On the administrative side, AI is also reshaping healthcare, but its implementation requires careful planning. It is crucial to establish a governance framework to guide AI usage within organizations, along with a legal framework to navigate emerging regulations. While no comprehensive federal regulations exist yet, states are beginning to create their own, making it crucial to stay ahead of legal developments.

AI offers significant ROI when organizations focus on practical, relevant use cases and ensure the right frameworks are in place for governance and compliance.

Regulatory changes and cost pressures

Regulatory attention on AI is increasing, with states considering its role in managing pre-authorizations and denials. It’s important to monitor these developments closely.

Value-based care continues to grow, with more providers focusing on optimizing these arrangements. Price transparency regulations have been implemented, and the No Surprises Act has experienced some legal fluctuations, particularly concerning how patient portions are calculated.

Hospitals and health systems are facing ongoing margin challenges. Efforts are focused on increasing revenue and controlling costs. The continuing care retirement community (CCRC) sector has seen improvements, with a shift in outlook from negative to neutral for 2025, signaling a positive trend for healthcare providers.

In the life sciences field, the impact of the Inflation Reduction Act (IRA) on drug pricing remains significant, and the potential for price controls in the U.S. continues to be a key concern.

How we can help

As we move forward into the year ahead, the healthcare industry’s resilience is being tested by regulatory shifts, technological advancements, and persistent economic pressures. Yet, these challenges also present unprecedented opportunities for innovation and growth. By staying agile, prioritizing security and compliance, and embracing transformative strategies, healthcare organizations can not only navigate these changes but thrive in a rapidly evolving landscape.

Baker Tilly is committed to helping healthcare leaders overcome obstacles and achieve their goals. The team of experienced professionals provide tailored solutions to help healthcare organizations bolster financial sustainability, support improved care outcomes, facilitate data flow and collaboration, strengthen cybersecurity measures, manage an evolving regulatory environment and seize opportunities for innovation and growth. Connect with a Baker Tilly specialist today to explore how we can help your healthcare organization succeed.

Rockwell Automation, Inc. (NYSE: ROK) today published its 2024 Sustainability Report, which highlights the company’s sustainability strategy, outcomes, and progress to help build sustainable customers, a sustainable company, and sustainable communities. 

“We are proud of our Environmental, Social, and Governance (ESG) efforts, which provide the foundation for creating a more sustainable future,” said Rockwell Chairman and CEO Blake Moret. “We continue to challenge ourselves and strive to meet or exceed our commitments. We help our customers do the same, providing the tools they need to navigate new challenges and requirements, helping them track and reduce their energy, water, and waste, and produce innovative new products and technologies at scale.”

Headquartered in Milwaukee, Wisconsin, Rockwell is the world’s largest company dedicated to industrial automation and digital transformation, providing solutions to manufacturers in more than 100 countries.

“We help to make our customers more resilient, more agile, and more sustainable,” said Moret. “Whether through our advanced cybersecurity offerings that increase resilience, our mobile robots and innovative independent cart technology that drive agility in manufacturing, or our cutting-edge software and power control technology that help reduce emissions and capture carbon, we are creating meaningful change and results. By driving productivity, reducing environmental impact, and ensuring operational efficiency and security, we are enabling a brighter future for both people and the planet.”

In addition to showcasing how Rockwell is helping manufacturers in their sustainability efforts, the report also highlights the company’s ESG initiatives and how it’s creating innovative, sustainable products and solutions while fostering a culture that empowers employees to operate safely, sustainably, and responsibly. The report also outlines how Rockwell supports sustainable communities with a purpose-driven strategy designed to create opportunities and expand human possibilities through investments in people and meaningful action.

Read Rockwell’s 2024 Sustainability Report.

Originally published on PSEG NewsRoom

NEWARK, N.J., January 16, 2025 /3BL/ – PSE&G reached a key milestone by installing more than 2 million smart meters as part of its Smart Meter Program aimed at enhancing customer insights and supporting faster outage recovery. Through this multi-year effort, PSE&G replaced the existing electric meters with new smart meters for both residential and business customers. 

“This is a critical milestone on the path to an improved customer experience enabling our customers with even greater access to understanding and managing their energy use,” said Dave Johnson, vice president Customer Care and Chief Customer Officer. “There are already more than 110 million smart meters installed across the United States and we’re pleased to support this roll out across our electric service territory. With this key step, consumers have access to data so they can make informed choices and take action that impacts their energy usage.” 

Advanced Technology & Benefits 

The smart meters that PSE&G installed are an element of the utility’s Advanced Metering Infrastructure (AMI), which links the smart meters to PSE&G system-monitoring and customer applications. Over time, the smart meters will deliver a number of benefits, including:

More frequent and detailed status on powerIncreased clarity on bills with the elimination of most estimated billsMore efficient power restoration following storms, over time being better equipped to determine the scope of power outages, pinpointing areas where outages exist, and more efficiently dispatching repair crews

MyMeter

MyMeter is an online portal that provides a user-friendly view of how customers use electricity, and also offers a number of tools and resources to help manage electric use to save energy and money. With MyMeter, customers can:

View electric use by time and date intervals – from 15-minutes to monthlyCreate helpful energy-use thresholds and receive usage alertGet helpful energy-saving tips and set energy-saving goalsComplete an online Home Energy Assessment

Learn more about smart meter benefits, installation and safety by visiting: pseg.com/smartmeters. 

PSE&G

Public Service Electric & Gas Co. is New Jersey’s oldest and largest gas and electric delivery public utility, as well as one of the nation’s largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 23 consecutive years. For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In addition, in 2023 J.D. Power named PSE&G number one in customer satisfaction with residential and business electric service in the east among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company focused on a clean energy future and has been named to the Dow Jones Sustainability Index for North America for 17 consecutive years www.pseg.com.