Tag: 3BL

Four in five dealmakers say ESG now firmly on the M&A agendaMore than half of dealmakers expect to perform ESG due diligence in most transactions over the next two yearsDespite rising importance, budget constraints and pressures remain

KPMG ESG due diligence study 2024

July 7, 2024 /3BL/ – Economic and geopolitical headwinds have failed to slow a rise in ESG due diligence in M&A transactions globally, according to new findings from KPMG International.

The global organization’s ESG Due Diligence study – now in its third year – reveals the global priority of ESG in transactions has increased in the past twelve to eighteen months, despite M&A markets decelerating in many countries, in the face of higher interest rates.

More than 600 active dealmakers shared their insights with KPMG for the study, providing valuable insight on how some of the prevalent challenges in ESG due diligence are being mitigated by leading investors and advisors.

When the KPMG ESG Due Diligence study was first launched in 2022, there was clear evidence that deal practitioners were facing practical challenges tackling ESG, despite clear evidence of the rising importance of ESG due diligence.

In this year’s global report, 70 percent dealmakers report an increase in the importance of ESG due diligence over the last 12 to 18 months, while 4 out of 5 say broader ESG considerations are now firmly on their M&A agenda – up from 74 percent in 2023. The rise comes despite softer M&A activity and an increasingly politicized debate about ESG in some countries and territories.

Looking ahead, more than half (57%) of dealmakers expect to perform ESG due diligence on most of their transactions over the next two years. Only 6 percent explicitly stated they don’t intend to perform this type of due diligence in the future.

The study also reveals that dealmakers are conducting ESG due diligence primarily because they believe in the monetary value of identifying sustainability-related risks and opportunities early in the deal process. Investors are also motivated by the belief that ESG due diligence helps meet regulatory requirements, as noted by 44% of global respondents. However, there are significant regional difference in this regard. EMEA (57%) and Asia Pacific (APAC) (55%) rank regulation requirements much more prominently than in the Americas region (19%).

Julie Vasadi, report co-author and Partner at KPMG Australia, commented: 

“Considering ESG in investment decisions has become non-negotiable for many investors. The extent and depth to which ESG-related risks and opportunities are being considered has increased significantly over the past 12 months, and leading investors are driving value from it.”

Almost three in four respondents said they perceive ESG due diligence as more important because of changing stakeholder requirements. What this means, however, can vary from business to business. For example, for general partners of private equity funds, the requirements of their limited partners (LPs) play an important role. Additionally, about two in three respondents indicate that ESG due diligence has become more relevant for them after a recent strategy update. 

Despite clear evidence of ESG’s rising importance in M&A, there are some concerns about investment. 60 percent of corporate investors and 80 percent of financial investors have set ‘low budgets’ for ESG due diligence – potentially limiting and risking the ability of external advisors to perform the high-quality due diligence needed by an increasing number of dealmakers.

Investors continue to struggle with selecting a meaningful, yet actionable scope, to conduct ESG due diligence with receiving quality data from target companies and quantifying potential findings. Solutions are emerging for greater scope clarity. Data quality can also improve as sellers and sell-side advisors drive value from divestments with higher quality ESG vendor documentation. Synergies are also becoming clearer between ESG due diligence teams and commercial and operations due diligence teams.

Florian Bornhauser, report co-author and Director at KPMG Switzerland, said: 

“It is becoming increasingly clear that considering ESG on transactions primarily means understanding the commercial implications that could have a significant deal value impact.”

Click here to learn more on the KPMG Global ESG due diligence study 2024.

Notes to editors: 

For media queries, please contact: 
Brian O’Neill, Senior Manager, Global External Communications 
T: +44 7823 668 689 
E: Brian.O’Neill@kpmg.co.uk

About KPMG International 

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

Bhushan Sethi, partner in PwC’s Strategy & consulting business and adjunct professor at NYU Stern School of Business, returns to the show alongside best-selling author and keynote speaker Stan Phelps. Stan, Bhushan, and co-host Mandi McReynolds discuss the significance of trust and transparency in employee engagement and the relationship between well-being and financial performance.

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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.

Cascale team members participated in the Innovation Forum’s Sustainable Apparel and Textiles Conference in New York City on June 25 to 26. This event followed IF’s April event in Amsterdam where Cascale executives also offered insights. As the official media collaborator with IF, Cascale assisted with sessions, speakers, and event marketing for the 2024 events.

The New York City conference took place on Roosevelt Island at Cornell Tech, with sweeping views of Manhattan. Topics spanned policy, climate action, circular systems, factory engagement and manufacturing, and social impact. Speakers hailed from all corners of the value chain, with Cascale members such as Tapestry, Everlane, Puma, and more participating.

Kaley Roshitsh, editorial director at Cascale, moderated a Tuesday session titled “Synthetics versus Sustainability: What is the future of recycled synthetic materials?”

Speakers included Noelle Angeli, senior head of apparel and material development at Puma Group; Heidi Van Dyck, founder and chief executive officer of Athena Studio; and Megan Carlson, director of materials development and sourcing at Tapestry-owned Coach. This mainstage breakout session highlighted the reality of material tradeoffs and how the companies are striving to integrate better practices – as well as data and tools like the Higg Index– into their product development and design choices.

Throughout the conference, there were many actionable themes. Panelists across the programming addressed sustainability’s cost conundrum head-on. They probed for long-term investment into innovation and technology, as well as pre-competitive relationships to get the industry back on track.

Policy was also topical. Speakers expressed a clear need for a cohesive, and urgent, policy response. Pakistani stakeholders expressed apprehension about incoming regulation for what it could mean for uninformed suppliers and another potential “race to the bottom” (where companies drive down costs or risk cutting ties with suppliers). Education could be the proactive remedy, per many panelists.

Reframing climate risk as material and quantifying circularity were also valuable lessons for attendees. Some regenerative agricultural models, however, aim to boast mutual benefit where risk is more equally dispersed. Circular businesses from Beyond Retro, ThredUp, and Archive additionally left attendees with hopeful views on pre-loved collaboration.

Originally published on Yahoo! Finance

Dan Amos, the long time CEO of healthcare insurance company Aflac (AFL) prides himself on equality and diversity in the workplace. In Japan, where Aflac conducts close to 70% of its business, Amos was confused as to why women were not being promoted to executive leadership positions.

Click here to read more on Yahoo! Finance

Community Offshore Wind is partnering with the Brooklyn Public Library to give away 3,200 books on STEM subjects to children and families from the Red Hook Houses and the Farragut HousesThe initiative adds to Community Offshore Wind’s investments in improving access to STEM education in disadvantaged communities and developing the workforce of the futureThe giveaways began on May 4 and will continue at Brooklyn community events in coming weeks

BROOKLYN, N.Y. /3BL/ – Community Offshore Wind and Brooklyn Public Library (BPL) announced a partnership to give away 3,200 books focused on STEM subjects to families living in the Red Hook Houses and the Farragut Houses, two public housing projects in northwest Brooklyn.

BPL’s Bookmobile joined Community Offshore Wind’s community outreach van at the community center at the Farragut Houses on May 4 to begin distributing bundles of books to Brooklyn families. The donated books focus on STEM topics like renewable energy and engineering. They also include biographies of inspiring scientists to encourage a passion for STEM education and careers in the next generation of the clean energy workforce.

Families can continue to pick up book bundles at the Bookmobile in Red Hook at the corner of Lorraine and Columbia Streets on May 7 and May 21 from 11AM – 4PM.

“Community Offshore Wind is committed to helping New York families access the education and development opportunities needed for the clean energy jobs of the future,” said Doug Perkins, President and Project Director of Community Offshore Wind. “By partnering with the BPL, we can help spark an interest in STEM subjects among children in Brooklyn and put them on a path toward clean energy education. We’ll also help them start or build their home libraries and inspire a life-long love of learning.”

“Having books at home provides a clear path to academic success and we are thrilled to partner with Community Offshore Wind to provide books for children to build libraries of their own. As these young Brooklynites explore STEM topics that interest them, we hope they begin to think about their own career paths and scientific discoveries,” said Linda E. Johnson, President and CEO, Brooklyn Public Library.

Studies have repeatedly demonstrated that home libraries and access to books from a young age both contribute significantly to better educational outcomes for children, but often, families in disadvantaged communities lack the opportunity to build those resources for their children. This program will help overcome that longstanding barrier by ensuring equitable access to books that will further students’ education and support better learning in school.

“Proficiency in the areas of science, technology, engineering, and mathematics can take you so far in life,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “These skills can open up amazing career opportunities, and they can serve you immensely in your day-to-day life. We extend our sincere appreciation to Community Offshore Wind and the Brooklyn Public Library for putting valuable STEM resources in the hands of young NYCHA residents and their families at Red Hook and Farragut Houses.”

“To build a sustainable future that works for everybody, we need to educate our kids so they can take the reins of that future,” said State Senator Andrew Gounardes. “Having books at home is a proven way to ensure children have the resources they need to learn and thrive, and these STEM books will open them up to a world of possibilities when it comes to science, renewable energy and engineering. I’m grateful to Community Offshore Wind and Brooklyn Public Library for putting the children of the Red Hook and Farragut Houses at the center of their vision for a green future.”

“The Brooklyn Public Library system has been instrumental in fostering an eagerness to learn in our borough’s youth. This is why I was excited to learn about Community Offshore Wind’s plan to partner with the Brooklyn Public Library bus mobile to donate 3,200 books to families from Red Hook and Farragut Houses,” said New York State Assemblywoman Marcela Mitaynes. “As we continue to build a green, sustainable future for our children, books are a fun and accessible way to introduce STEM to our younger residents. I look forward to new initiatives and events that will continue to uplift our communities.”

Since its launch in 2022, Community Offshore Wind has been an active and engaged neighbor to New York communities. For Engineers Week 2023 and 2024, the project funded field trips for more than 140 New York students to local museums, and brought team members to the Harbor Middle School and New York Urban Assembly Harbor High School to encourage an early interest in STEM education and careers. They have also offered swim lessons to children from disadvantaged communities in partnership with the YMCA, donated 900 coats to families in need during the winter months and provided 30,000 fresh seafood meals to food banks throughout the state.

Brooklyn Public Library is the sixth largest library system in the country and a leading provider of free early literacy programs in New York City. From multilingual story times to Brainy Babies and Ready Set Kindergarten, BPL offers free programs that increase literacy, language, and social skills in young children, while providing parents and caregivers techniques for supporting learning at home. In 2023, BPL offered nearly 5000 free public programs for children, ages 0 to 12, focused on literacy, reading and the joy of a good book.

About Community Offshore Wind

RWE and National Grid will bring clean energy to the Northeastern US in a joint venture called Community Offshore Wind. They will develop offshore wind on the largest parcel in the New York Bight with the potential to host 3 gigawatts (GW) of capacity, which is enough to power more than one million US homes and businesses. The project is expected to be in operation by the end of 2030. Community Offshore Wind is dedicated to investing in communities by bringing clean energy jobs to the region and growing the local economy. They will deliver sustainable energy safely, reliably, and efficiently to the communities they serve.

About RWE

RWE is leading the way to a green energy world. With its investment and growth strategy Growing Green, RWE is contributing significantly to the success of the energy transition and the decarbonization of the energy system. Around 20,000 employees work for the company in almost 30 countries worldwide. RWE is already one of the leading companies in the field of renewable energy. Between 2024 and 2030, RWE will invest 55 billion euros worldwide in offshore and onshore wind, solar energy, batteries, flexible generation, and hydrogen projects. By the end of the decade, the company’s green portfolio will grow to more than 65 gigawatts of generation capacity, which will be perfectly complemented by global energy trading. RWE is decarbonizing its business in line with the 1.5-degree reduction pathway and will phase out coal by 2030. RWE will be net-zero by 2040. Fully in line with the company’s purpose – Our energy for a sustainable life.

National Grid Ventures

National Grid is an electricity, natural gas, and clean energy delivery company serving more than 20 million people throughout our networks in New York and Massachusetts. National Grid is focused on building a path to a more affordable, reliable clean energy future through our fossil-free vision.

National Grid Ventures (NGV) is the non-regulated division of National Grid plc, one of the largest investor-owned energy companies in the world. NGV operates outside of National Grid’s core regulated businesses in the US and UK where it develops, operates and invests in energy projects, technologies and partnerships to accelerate the development of a clean energy future. NGV’s diverse portfolio of low carbon and renewable energy businesses across the UK, Europe and US includes subsea electricity interconnectors, wind and solar power, and battery storage. For more information, visit https://www.nationalgrid.com/national-grid-ventures.

About Brooklyn Public Library

Brooklyn Public Library is one of the nation’s largest library systems and among New York City’s most democratic institutions. As a leader in developing modern 21st century libraries, we provide resources to support personal advancement, foster civic literacy, and strengthen the fabric of community among the more than 2.7 million individuals who call Brooklyn home. We provide nearly 60,000 free programs a year with writers, thinkers, artists, and educators—from around the corner and around the world. And we give patrons millions of opportunities to enjoy one of life’s greatest satisfactions: the joy of a good book.

Media Contacts

Will Brunelle 
Community Offshore Wind 
(518) 948-8964 
Email

Molly Gilson COSW 
Community Offshore Wind 
(781) 249-7706 
Email

Case IH, a brand of CNH, is mixing industry-leading technology with the heritage of Axial-Flow® combines as the perfect harvesting partner for a wide variety of growers and custom harvesters.

The recently unveiled Axial-Flow 260 series is designed for unparalleled productivity. Growers can access subscription-free, integrated technology to meet the unique needs of their operations.

The premium technology built within the Axial-Flow 260 series combine sets a new standard for operator experience, while also maximizing throughput and grain handling with single-rotor Case IH harvesting technology.

“The Axial-Flow 260 series combine represents a significant leap forward in integrated technology throughout the harvesting process for growers,” says Leo Bose, harvesting segment lead at 
Case IH.

“We purposefully bundled precision technologies so there are no subscriptions or activations required to run the machine. The subscription-free connectivity gives customers the ability to remotely view machine and agronomic data via the new Case IH FieldOps™ platform, which will launch later in 2024. The technology stays for the lifetime of the hardware, boosting resale value.”

To learn more about the Axial-Flow 260 series and the full range of Case IH harvesting solutions, speak to your local dealer or visit caseih.com.

Case IH, a brand of CNH, is mixing industry-leading technology with the heritage of Axial-Flow® combines as the perfect harvesting partner for a wide variety of growers and custom harvesters.

The recently unveiled Axial-Flow 260 series is designed for unparalleled productivity. Growers can access subscription-free, integrated technology to meet the unique needs of their operations.

The premium technology built within the Axial-Flow 260 series combine sets a new standard for operator experience, while also maximizing throughput and grain handling with single-rotor Case IH harvesting technology.

“The Axial-Flow 260 series combine represents a significant leap forward in integrated technology throughout the harvesting process for growers,” says Leo Bose, harvesting segment lead at 
Case IH.

“We purposefully bundled precision technologies so there are no subscriptions or activations required to run the machine. The subscription-free connectivity gives customers the ability to remotely view machine and agronomic data via the new Case IH FieldOps™ platform, which will launch later in 2024. The technology stays for the lifetime of the hardware, boosting resale value.”

To learn more about the Axial-Flow 260 series and the full range of Case IH harvesting solutions, speak to your local dealer or visit caseih.com.

International Olympic Committee news

The International Olympic Committee (IOC) has announced the publication of its updated Portrayal Guidelines, a key part of its efforts to promote inclusivity and equality in the media’s portrayal of athletes at the Olympic Games Paris 2024.

With Paris 2024 set to be the first Olympic Games to achieve full gender parity on the field of play, the updated Portrayal Guidelines seek to raise awareness about the differences in how sportswomen and women’s sport are portrayed in comparison to their male counterparts. The guidelines provide practical checklists and advice to help ensure gender-equal and fair representation of all athletes across all forms of media and communication.

The two weeks of Olympic coverage are a unique opportunity to generate new strong, positive and diverse role models, and to promote balanced coverage and fair portrayal of sportspeople in all their diversity – irrespective of gender, race, religion, sexual orientation or socio-economic status.

Key updates for 2024

Building on previous versions of the guidelines, which were first published in 2018 and updated in 2021, the latest edition is designed to foster more inclusive and respectful sports coverage, and includes updated examples and references that reflect the latest in gender-equal portrayal practices. An annex that provides definitions, language practices, and considerations for respectful and inclusive coverage of transgender and non-binary participants, plus athletes with sex variations, is also included. This annex follows the release of the IOC Framework on Fairness, Inclusion and Non-Discrimination on the Basis of Gender Identity and Sex Variations in November 2021.

Emphasising the need for gender-equal and fair representation

Historically, sports coverage has often highlighted non-sports-related characteristics of sportswomen, such as their physical appearance and personal lives, rather than their athletic achievements. The IOC’s Portrayal Guidelines are aimed at addressing these disparities by ensuring that women’s sport receives equal visibility, and female athletes are celebrated for their competitive accomplishments.

The updated guidelines therefore seek to support media outlets and content creators in implementing balanced reporting and communication across various platforms, including print, digital, radio and broadcast. By calling for more inclusive and representative media practices, the IOC hopes to shift public perception and promote new, diverse role models within sport.

Balanced storytelling for all athletes

The Portrayal Guidelines were drafted in 2018 following the work of the IOC Gender Equality Review Project, which carried out a comprehensive review of the current state of gender equality in the Olympic Movement and issued 25 bold and action-oriented recommendations to advance gender equality. One of them was to establish principles and guidelines for fair and balanced portrayal in all its forms of communication.

As the permanent host broadcaster for the Olympic Games, producing the live television, radio and digital coverage of the event, Olympic Broadcasting Services (OBS) contributed to the guidelines by sharing its broadcast expertise.

“As we prepare for the Olympic Games Paris 2024, the updated Portrayal Guidelines are pivotal in our mission to deliver fair and inclusive coverage of all athletes,” explains Yiannis Exarchos, CEO of OBS.

At Olympic Broadcasting Services, we are committed to using our platform to showcase the diverse stories and achievements of sportspeople worldwide, ensuring that our broadcasts reflect the true spirit of equality and excellence that defines the Olympic Movement.

Yiannis Exarchos

CEO of Olympic Broadcasting Services

In addition to its commitment to fair and balanced storytelling for all athletes, OBS is aiming to close the gender gap in key broadcast roles. This commitment involves empowering women in production, editorial and technical positions, to foster a more inclusive broadcast environment in sport.

For Paris 2024, this includes hiring approximately 35 female commentators and ensuring balanced gender representation among senior staff and venue production teams. OBS is also aiming to achieve gender parity in the coverage of both live and non-live content on Olympics.com, with a focus on amplifying women’s voices and stories.

Download the guidelines here

International Olympic Committee news

The International Olympic Committee (IOC) has announced the publication of its updated Portrayal Guidelines, a key part of its efforts to promote inclusivity and equality in the media’s portrayal of athletes at the Olympic Games Paris 2024.

With Paris 2024 set to be the first Olympic Games to achieve full gender parity on the field of play, the updated Portrayal Guidelines seek to raise awareness about the differences in how sportswomen and women’s sport are portrayed in comparison to their male counterparts. The guidelines provide practical checklists and advice to help ensure gender-equal and fair representation of all athletes across all forms of media and communication.

The two weeks of Olympic coverage are a unique opportunity to generate new strong, positive and diverse role models, and to promote balanced coverage and fair portrayal of sportspeople in all their diversity – irrespective of gender, race, religion, sexual orientation or socio-economic status.

Key updates for 2024

Building on previous versions of the guidelines, which were first published in 2018 and updated in 2021, the latest edition is designed to foster more inclusive and respectful sports coverage, and includes updated examples and references that reflect the latest in gender-equal portrayal practices. An annex that provides definitions, language practices, and considerations for respectful and inclusive coverage of transgender and non-binary participants, plus athletes with sex variations, is also included. This annex follows the release of the IOC Framework on Fairness, Inclusion and Non-Discrimination on the Basis of Gender Identity and Sex Variations in November 2021.

Emphasising the need for gender-equal and fair representation

Historically, sports coverage has often highlighted non-sports-related characteristics of sportswomen, such as their physical appearance and personal lives, rather than their athletic achievements. The IOC’s Portrayal Guidelines are aimed at addressing these disparities by ensuring that women’s sport receives equal visibility, and female athletes are celebrated for their competitive accomplishments.

The updated guidelines therefore seek to support media outlets and content creators in implementing balanced reporting and communication across various platforms, including print, digital, radio and broadcast. By calling for more inclusive and representative media practices, the IOC hopes to shift public perception and promote new, diverse role models within sport.

Balanced storytelling for all athletes

The Portrayal Guidelines were drafted in 2018 following the work of the IOC Gender Equality Review Project, which carried out a comprehensive review of the current state of gender equality in the Olympic Movement and issued 25 bold and action-oriented recommendations to advance gender equality. One of them was to establish principles and guidelines for fair and balanced portrayal in all its forms of communication.

As the permanent host broadcaster for the Olympic Games, producing the live television, radio and digital coverage of the event, Olympic Broadcasting Services (OBS) contributed to the guidelines by sharing its broadcast expertise.

“As we prepare for the Olympic Games Paris 2024, the updated Portrayal Guidelines are pivotal in our mission to deliver fair and inclusive coverage of all athletes,” explains Yiannis Exarchos, CEO of OBS.

At Olympic Broadcasting Services, we are committed to using our platform to showcase the diverse stories and achievements of sportspeople worldwide, ensuring that our broadcasts reflect the true spirit of equality and excellence that defines the Olympic Movement.

Yiannis Exarchos

CEO of Olympic Broadcasting Services

In addition to its commitment to fair and balanced storytelling for all athletes, OBS is aiming to close the gender gap in key broadcast roles. This commitment involves empowering women in production, editorial and technical positions, to foster a more inclusive broadcast environment in sport.

For Paris 2024, this includes hiring approximately 35 female commentators and ensuring balanced gender representation among senior staff and venue production teams. OBS is also aiming to achieve gender parity in the coverage of both live and non-live content on Olympics.com, with a focus on amplifying women’s voices and stories.

Download the guidelines here

National Grid is sponsoring a new Buffalo Niagara Partnership program that supports Western New York-area small businesses.

Through National Grid’s sponsorship of BNP Pro Free, partnership membership fees are covered for small businesses that can benefit from the resources, networking and support that the partnership offers. Eligible companies include those with five or fewer employees, as well as locally owned and operated restaurants of all sizes.

At an April 29 event to announce the new program, National Grid Regional Director Ken Kujawa, at top, said that supporting the program is a natural fit for the company, as BNP Pro Free aligns with the efforts of Project C and its workforce development pillar.

“Small businesses power our economy, driving innovation and creating jobs,” Kujawa said. “National Grid has been a long-time supporter of local entrepreneurship and workforce development programs, and this new partnership will undoubtedly serve as a powerful resource for our region’s vital network of small business professionals and ultimately, strengthen our community.”

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future — transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions.

For more information, please visit our website, follow us on X (formerly Twitter), watch us on YouTube, like us on Facebook and find us on Instagram.

Media Contacts

Dave Bertola 
Buffalo (Western NY) 
(716) 831-7136 
Email