Tag: 3BL

Mastercard

At Mastercard, we connect with people through universal passions— from music, to culinary, to travel. This year, we dedicated our sponsorship of UEFA Champions League to connect the football community’s passion for sports with their passion for sustainability, turning fans into forces for good.

In the lead up to the game, we participated in Champions Innovate Final to go beyond what happens on the pitch and leave a positive and lasting local legacy around the 2024 UEFA Champions League Final. Mastercard joined forces with Pledgeball this year to encourage players and fans to take tangible, effective action on climate change.

We also presented our Pledge Ball, inscribed with pledges toward sustainable actions from the football community, to the children involved with Bloomsbury Football, whose mission is to make football more inclusive, serving over 5,000 children per week. These young athletes had the opportunity to develop their skills with some of the biggest names in the sport, including Gareth Bale, Mathieu Flemini, and Alex Scott. As we inspire the next generation, this ball and the pledges made through this campaign symbolizes the power of teamwork in creating a sustainable future.

About Mastercard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Originally published by Mastercard

Follow along Mastercard’s journey to connect and power an inclusive, digital economy that benefits everyone, everywhere.

FARMINGTON, Conn., June 12, 2024 /3BL/ – Otis Worldwide Corporation (NYSE: OTIS) published its 2023 ESG Report, describing its Environmental, Social and Governance (ESG) strategy and outlining progress on its 13 ESG goals.

The Otis ESG strategy focuses on the key areas of Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. Progress made in each helps to drive value for stakeholders and to advance the company’s business strategy across five strategic pillars: sustain New Equipment growth, accelerate Service portfolio growth, deliver modernization value, advance digitalization, and focus and empower the organization.

“Our 2023 ESG report highlights critical programs and recent successes that are central to the continued growth and integrity of our business,” said Otis Chair, CEO and President Judy Marks. “Our ESG pillars are embedded in our long-term strategy and purposefully connected to our Absolutes of Safety, Ethics and Quality, the core principles that guide us in doing the right thing as we conduct business around the world every day. By transparently reporting on our progress, we hold ourselves accountable, and we invite our stakeholders to join us on our journey.”

Highlights from the 2023 ESG Report

Health & Safety: Otis deployed and expanded innovative safety education programming to help ensure colleagues, subcontractors and passengers return home to their families safely every day, including hosting over 200,000 individual safety education and training engagements globally with colleagues and subcontractors through its fourth annual Season of Safety.

Environment & Impact: Otis continued to develop innovative and environment-friendly solutions by advancing digitalization and other technologies – including for modernization – to provide equipment and services that respond to customer and passenger needs. By measuring and managing the environmental impact of its products and operations and by increasing its renewable energy use, Otis has reduced absolute scope 1 and 2 emissions by 12% and absolute scope 3 emissions by 5%, both from a 2021 baseline.*

People & Communities: By creating an inclusive, equitable and accessible work environment and offering well-being programs to all colleagues, Otis empowered its people to succeed and positioned itself to attract and retain the best talent on the market. The company interacted meaningfully through high-impact initiatives in the communities where its colleagues live and work, serving more than 2,400 students across the learning continuum through STEM-focused initiatives, including its signature STEM education and volunteerism program, Made to Move Communities.

Governance & Accountability: Continued to leverage the Otis Absolutes of Safety, Ethics and Quality to uphold high standards of governance, helping to grow the business and build trust with stakeholders including colleagues, customers, suppliers, shareholders and the riding public.

View the complete Otis 2023 ESG Report here. 

* Based on near-term science-based greenhouse gas (GHG) emission reduction targets approved by the Science Based Target initiative in April 2024.

About Otis

Otis is the world’s leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry’s largest maintenance portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. For more information, visit www.otis.com and follow us on LinkedIn, Instagram, and Facebook @OtisElevatorCo.

Cautionary statement

This press release contains forward-looking statements (including statements that constitute forward-looking statements under the securities laws), including, but not limited to, statements that relate to our intent to achieve certain environmental, social and governance (“ESG”) commitments, plans, targets, goals and future risks associated with climate change and their impact on our future business. These forward-looking statements are intended to provide management’s current expectations or plans for our future performance, based on assumptions currently believed to be valid. The forward-looking statements are subject to future events, risks, uncertainties and other factors, many of which are beyond the control of the company, that could cause actual results to differ materially from our historical results or current expectations, including, but not limited to the availability and cost of low- or non-carbon-based energy sources and technologies; third-party coordination and alignment over which we do not have control and may be unpredictable; evolving regulatory requirements affecting ESG standards or disclosures; the availability of suppliers that can meet our sustainability, diversity and other standards; severe weather events, including from the effects of climate change; changes in the economic and political conditions in the industry and markets in which we operate; and other risks and uncertainties described in detail in the company’s most recent Form 10-K, Form 10-Q and in similar sections of other filings made by the company with the Securities and Exchange Commission from time to time. The forward-looking statements speak only as of this date. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Cintas embraces and supports its LGBTQ+ employee-partners in part through IMPACT, a Partner Business Resource Group (PBRG) that is focused on fostering engagement and collaboration between LGBTQ+ employee-partners and allies to help amplify their voices. 

IMPACT, an acronym for Influencing Motivated Partners & Connecting Talent, was established in 2022 and has been building a foundation for the PBRG’s continued success and growth. 

“We’re still in our infancy stage, and a lot of what we’re working on now is a foundation that can be built upon,” said Irene Cabrera, National Sales Director, at Cintas and President of IMPACT. “This comes from us having consistent communication, participation and support. We want to leave a strong base so the next generation who leads IMPACT has something they can continue to evolve.”

IMPACT is focused on engaging new members, creating an inclusive environment, sharing stories and educating those internally and externally about the LGBTQ+ community and allyship. To accomplish this, IMPACT consists of three segments: recruiting, communication and education. 

The first segment, recruiting, led by Lynn McKenzie, focuses on reaching current and potential employee-partners through partnerships and events. One example is members will pair up with campus talent acquisition managers and attend college job fairs and recruitment sessions to help introduce potential employee-partners to IMPACT and other PBRGs.  

IMPACT has also developed partnerships with several organizations, including the American LGBTQ advocacy group Human Rights Campaign (HRC), and the North American Gay Amateur Athletic Alliance (NAGAAA) through the company’s sponsorship of NAGAAA’s Gay Softball World Series, which IMPACT participates in. 

In addition, the group is an official participant of Cincinnati Pride and has become a member of the National Gay & Lesbian Chamber of Commerce (NGLCC). 

“Our partnerships and involvement with LGBTQ+ groups and organizations are important because they help us build connections, diversify our supplier base, spread the Cintas brand to areas we may not currently be reaching, grow our PBRG and support others in our community,” said Cabrera.

The second segment, communication, led by Lynzi Patton, uses multiple channels to keep members informed and up to date on the latest information. The PBRG posts a monthly newsletter to its SharePoint, which typically consists of current news, partner stories, highlights of recent events and important facts and history on prominent LGBTQ+ figures and milestones.

Their group also conducts quarterly calls that all members are invited to attend and participate in and hosts an annual meeting where leaders discuss IMPACT’s plans and the focus for the following year. 

The final segment of IMPACT is education, led by Lauren Dershowitz, which is focused on both group members and those outside of Cintas.

One way IMPACT supports its members is through mentorship cards. Members fill out and submit cards that ask about their strengths. These are then made available for all members to access. If you have an area you want to improve on, you can find a peer with those strengths and connect with them. 

They also educate people outside of this PBRG through shared stories and experiences, where members give their firsthand experience of how IMPACT has empowered them to be their authentic selves at work, shown them support and helped them grow and develop. 

IMPACT’s mission is to utilize its resources to foster engagement and collaboration for employee-partners of the LGBTQ+ community and allies to ensure Cintas is the employer of choice for current and future employee-partners.

The PBRG’s vision statement is to be the top-of-mind, “must join” community for networking, outreach and education for LGBTQ+ employee-partners and allies.

As the group progresses and evolves, IMPACT and its leadership council continue to look for opportunities to expand, retain and offer a safe space for their members within the organization. This effort aims to enhance support for Cintas’ diverse employee-partners, PBRGs, and overall business objectives.

“The importance of this PBRG, specifically, is to create a safe space for employee-partners that feel unrepresented in their community,” said Cabrera. “Depending on where you live or how you grew up, you may not be able to be your authentic self. IMPACT plays an important part in letting our LGBTQ+ employee-partners know they exist, they are supported and they can thrive here at Cintas.”

Learn more about IMPACT and Cintas’ other Partner Business Resource Groups by clicking here.

Cintas embraces and supports its LGBTQ+ employee-partners in part through IMPACT, a Partner Business Resource Group (PBRG) that is focused on fostering engagement and collaboration between LGBTQ+ employee-partners and allies to help amplify their voices. 

IMPACT, an acronym for Influencing Motivated Partners & Connecting Talent, was established in 2022 and has been building a foundation for the PBRG’s continued success and growth. 

“We’re still in our infancy stage, and a lot of what we’re working on now is a foundation that can be built upon,” said Irene Cabrera, National Sales Director, at Cintas and President of IMPACT. “This comes from us having consistent communication, participation and support. We want to leave a strong base so the next generation who leads IMPACT has something they can continue to evolve.”

IMPACT is focused on engaging new members, creating an inclusive environment, sharing stories and educating those internally and externally about the LGBTQ+ community and allyship. To accomplish this, IMPACT consists of three segments: recruiting, communication and education. 

The first segment, recruiting, led by Lynn McKenzie, focuses on reaching current and potential employee-partners through partnerships and events. One example is members will pair up with campus talent acquisition managers and attend college job fairs and recruitment sessions to help introduce potential employee-partners to IMPACT and other PBRGs.  

IMPACT has also developed partnerships with several organizations, including the American LGBTQ advocacy group Human Rights Campaign (HRC), and the North American Gay Amateur Athletic Alliance (NAGAAA) through the company’s sponsorship of NAGAAA’s Gay Softball World Series, which IMPACT participates in. 

In addition, the group is an official participant of Cincinnati Pride and has become a member of the National Gay & Lesbian Chamber of Commerce (NGLCC). 

“Our partnerships and involvement with LGBTQ+ groups and organizations are important because they help us build connections, diversify our supplier base, spread the Cintas brand to areas we may not currently be reaching, grow our PBRG and support others in our community,” said Cabrera.

The second segment, communication, led by Lynzi Patton, uses multiple channels to keep members informed and up to date on the latest information. The PBRG posts a monthly newsletter to its SharePoint, which typically consists of current news, partner stories, highlights of recent events and important facts and history on prominent LGBTQ+ figures and milestones.

Their group also conducts quarterly calls that all members are invited to attend and participate in and hosts an annual meeting where leaders discuss IMPACT’s plans and the focus for the following year. 

The final segment of IMPACT is education, led by Lauren Dershowitz, which is focused on both group members and those outside of Cintas.

One way IMPACT supports its members is through mentorship cards. Members fill out and submit cards that ask about their strengths. These are then made available for all members to access. If you have an area you want to improve on, you can find a peer with those strengths and connect with them. 

They also educate people outside of this PBRG through shared stories and experiences, where members give their firsthand experience of how IMPACT has empowered them to be their authentic selves at work, shown them support and helped them grow and develop. 

IMPACT’s mission is to utilize its resources to foster engagement and collaboration for employee-partners of the LGBTQ+ community and allies to ensure Cintas is the employer of choice for current and future employee-partners.

The PBRG’s vision statement is to be the top-of-mind, “must join” community for networking, outreach and education for LGBTQ+ employee-partners and allies.

As the group progresses and evolves, IMPACT and its leadership council continue to look for opportunities to expand, retain and offer a safe space for their members within the organization. This effort aims to enhance support for Cintas’ diverse employee-partners, PBRGs, and overall business objectives.

“The importance of this PBRG, specifically, is to create a safe space for employee-partners that feel unrepresented in their community,” said Cabrera. “Depending on where you live or how you grew up, you may not be able to be your authentic self. IMPACT plays an important part in letting our LGBTQ+ employee-partners know they exist, they are supported and they can thrive here at Cintas.”

Learn more about IMPACT and Cintas’ other Partner Business Resource Groups by clicking here.

Southern Company

ATLANTA, June 12, 2024 /3BL/ – Southern Company has signed on as an official partner of the UNDERRATED Golf Tour, a purpose-driven business endeavor with the overarching commitment to provide equity, access and opportunity to student-athletes from every community by balancing participation in the sport to truly reflect our society.

As part of Southern Company’s commitment to promoting inclusion within the communities it serves, this new partnership will enable the organization to support aspiring golfers who historically have been underrepresented in the sport. The UNDERRATED Golf Tour provides a platform for athletes to showcase their skills, gain exposure, and compete at a high level while fostering a more inclusive environment within the golfing community.

“Golf is a game that mirrors the values we hold dear at Southern Company — integrity, excellence and respect,” said Chris Womack, chairman, president & CEO of Southern Company. “Partnering with the UNDERRATED Golf Tour we are investing in the future of the sport while reinforcing our commitment to creating equitable opportunities for all.”

Womack unveiled the partnership at the 2024 World Golf Hall of Fame Induction Ceremony where UNDERRATED founder Stephen Curry was recognized as the 2024 recipient of the Charlie Sifford Award presented by Southern Company. The Charlie Sifford Award was created in 2021 by the World Golf Hall of Fame to honor an individual who personifies Sifford’s groundbreaking achievements of diversifying the game of golf through perseverance, confidence, respect, and adaptability.

The UNDERRATED Golf Tour has gained national attention for its efforts to level the playing field. The tour offers a series of competitive events across the country, providing a stepping stone for players to reach collegiate golf programs and, ultimately, professional ranks.

For each U.S. Tour stop, 96 athletes will participate in tournament style events and team building activities while simultaneously networking with college golf coaches and golf executives. The U.S. portion of the UNDERRATED Golf Season 3 Tour will consist of four regional stops at some of the most prestigious courses in the U.S. The tour gives many young golfers their first opportunity to play on an established professional course, with stops including:

Old Barnwell in Aiken, SC | June 21 – June 23Pumpkin Ridge Ghost Creek Golf Club in Portland, OR | July 8 – July 10Warren Golf Course at The University of Notre Dame in South Bend, IN | July 22 – July 24TPC San Antonio in San Antonio, TX | August 7 – August 9 

Ultimately, 24 of the best boys and girls will emerge from the tour to compete for the Curry Cup at the UNDERRATED Tour Championship. For the very first time ever, the Curry Cup will take place outside of the Bay Area and will move to The Ridgewood Country Club in Paramus, NJ, September 2-5.

For more information, please visit www.stayunderrated.com, and connect on social media via Instagram, Twitter and Facebook.

About Southern Company 
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy distribution company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers’ and communities’ needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more. To learn more, visit www.southerncompany.com.

ABOUT UNDERRATED 
UNDERRATED is an inspiring lifestyle brand with a mission to empower underrated and underrepresented individuals all over the world. With a passion for celebrating the underdog, UNDERRATED echoes this message across three main categories including experiences, media and physical product. The brand, which was established by Stephen Curry in 2019, draws on the revered NBA Champion’s personal story as an underappreciated three-star athlete in high school who always stood in the shadows of his peers. As a powerful culmination of this inspiring journey to the top, UNDERRATED is committed to opening doors for often-overlooked student-athletes by developing impactful basketball programming, and fostering a platform for visibility through the UNDERRATED Championships, which create opportunities for players to be recognized by key figures. Based in the Bay Area, UNDERRATED is a mindset, a motivation, a calling, a compliment. For more information, please visit www.stayunderrated.com, and connect on social media via Instagram, Twitter and Facebook.

SOURCE Southern Company

For further information: Southern Company Media Relations, 404-506-5333 or 1-866-506-5333, www.southerncompany.com

Southern Company

ATLANTA, June 12, 2024 /3BL/ – Southern Company has signed on as an official partner of the UNDERRATED Golf Tour, a purpose-driven business endeavor with the overarching commitment to provide equity, access and opportunity to student-athletes from every community by balancing participation in the sport to truly reflect our society.

As part of Southern Company’s commitment to promoting inclusion within the communities it serves, this new partnership will enable the organization to support aspiring golfers who historically have been underrepresented in the sport. The UNDERRATED Golf Tour provides a platform for athletes to showcase their skills, gain exposure, and compete at a high level while fostering a more inclusive environment within the golfing community.

“Golf is a game that mirrors the values we hold dear at Southern Company — integrity, excellence and respect,” said Chris Womack, chairman, president & CEO of Southern Company. “Partnering with the UNDERRATED Golf Tour we are investing in the future of the sport while reinforcing our commitment to creating equitable opportunities for all.”

Womack unveiled the partnership at the 2024 World Golf Hall of Fame Induction Ceremony where UNDERRATED founder Stephen Curry was recognized as the 2024 recipient of the Charlie Sifford Award presented by Southern Company. The Charlie Sifford Award was created in 2021 by the World Golf Hall of Fame to honor an individual who personifies Sifford’s groundbreaking achievements of diversifying the game of golf through perseverance, confidence, respect, and adaptability.

The UNDERRATED Golf Tour has gained national attention for its efforts to level the playing field. The tour offers a series of competitive events across the country, providing a stepping stone for players to reach collegiate golf programs and, ultimately, professional ranks.

For each U.S. Tour stop, 96 athletes will participate in tournament style events and team building activities while simultaneously networking with college golf coaches and golf executives. The U.S. portion of the UNDERRATED Golf Season 3 Tour will consist of four regional stops at some of the most prestigious courses in the U.S. The tour gives many young golfers their first opportunity to play on an established professional course, with stops including:

Old Barnwell in Aiken, SC | June 21 – June 23Pumpkin Ridge Ghost Creek Golf Club in Portland, OR | July 8 – July 10Warren Golf Course at The University of Notre Dame in South Bend, IN | July 22 – July 24TPC San Antonio in San Antonio, TX | August 7 – August 9 

Ultimately, 24 of the best boys and girls will emerge from the tour to compete for the Curry Cup at the UNDERRATED Tour Championship. For the very first time ever, the Curry Cup will take place outside of the Bay Area and will move to The Ridgewood Country Club in Paramus, NJ, September 2-5.

For more information, please visit www.stayunderrated.com, and connect on social media via Instagram, Twitter and Facebook.

About Southern Company 
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy distribution company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers’ and communities’ needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more. To learn more, visit www.southerncompany.com.

ABOUT UNDERRATED 
UNDERRATED is an inspiring lifestyle brand with a mission to empower underrated and underrepresented individuals all over the world. With a passion for celebrating the underdog, UNDERRATED echoes this message across three main categories including experiences, media and physical product. The brand, which was established by Stephen Curry in 2019, draws on the revered NBA Champion’s personal story as an underappreciated three-star athlete in high school who always stood in the shadows of his peers. As a powerful culmination of this inspiring journey to the top, UNDERRATED is committed to opening doors for often-overlooked student-athletes by developing impactful basketball programming, and fostering a platform for visibility through the UNDERRATED Championships, which create opportunities for players to be recognized by key figures. Based in the Bay Area, UNDERRATED is a mindset, a motivation, a calling, a compliment. For more information, please visit www.stayunderrated.com, and connect on social media via Instagram, Twitter and Facebook.

SOURCE Southern Company

For further information: Southern Company Media Relations, 404-506-5333 or 1-866-506-5333, www.southerncompany.com

Feature by Stephan Mueller

What if enterprise decisions considered both profit and planet, empowering every level of a company to make better product, pricing, financial, and investment choices? It’s not only possible, it is an achievable reality according to new research conducted by SAP and Technical University of Munich.

Carbon management can add emission quantities to existing financial accounting and connect emissions and finance at the transactional level — transforming carbon accounting practices, producing a more comprehensive view of a company’s sustainability position. With this added dimension, decision-making becomes more integrated and efficient. By shifting the carbon management mindset, companies can also provide investors with more decision-useful information.

The research shows there are clear benefits and opportunities to businesses that are ready to rethink carbon management, embrace transparency, and treat carbon as money in their financial accounting and reporting practices.

Reimagining Carbon Management

A recent study by the Technical University of Munich and SAP generated some promising results and opportunities for carbon management enhancements with an ERP-centric approach. The study introduced the concept of consistently adding carbon data to a company’s general ledger transactions. This significant change allows carbon accounting to be transaction driven, with journal entries consisting of both monetary values and carbon emissions. The modification enables integrated thinking, on all hierarchical levels, by considering carbon emissions at the same level of reliability and consistency as financial information.

Beyond environmental responsibility, this innovative approach unlocks additional advantages. Merging carbon data with financials strengthens the very foundation of a company: the data itself. Balance sheets and income statements will represent a more complete picture of a company’s impact. This level of transparency and elevated quality of data empowers investors and decision makers while advancing decision-useful information.

Quality of data — from inside and outside a company’s core operations — is also critical when moving toward embedding artificial intelligence (AI) across business processes and analytics. AI will help companies accelerate their sustainability impact by improving operational efficiency, fostering greater transparency around emissions, automating reports, and complying with ever-evolving regulations.

Global Transparency

Carbon reporting is rapidly becoming a standard requirement for business. The common denominator is the set of requirements put forth by the Greenhouse Gas (GHG) Protocol. SAP proactively anticipated and closely monitors the laws and regulations developing in this sector.

With the global trends toward a low-carbon, modern economy driving business transformation, SAP developed SAP Green Ledger, an ERP-centric solution that builds on existing financial accounting practices and applies them to carbon accounting standards.

This new ledger-based accounting elevates greenhouse gas counting to true accounting using financial steering dimensions. By doing so, SAP Sustainability solutions are set apart through deep integration with SAP cloud ERP solution business processes, providing precise and actionable insights rather than the estimates/averages in competing solutions. This unique approach will empower companies to go beyond regulatory compliance and embed sustainability into their operation to drive meaningful change. By aligning business processes with sustainability goals, companies can pave the way for a sustainable future.

Make Carbon Audit-Ready

To reach net-zero targets, most companies must consider carbon offsets as part of their decarbonization journey. SAP’s carbon management approach recognizes offsets as intangible assets.

With SAP Green Ledger, both carbon and financial information are recorded, resulting in a carbon flow statement that shows carbon emissions across all three scopes. The flow items incorporate initial, additional, exiting, and ending carbon balances, as well as emissions not allocated to an asset position in the balance sheet. Adoption of this new carbon accounting process could take different forms, but all leverage the existing ERP system and general ledger accounts.

Standard auditing procedures were also considered and accommodated for in this methodology. Since carbon emissions are allocated to transactions as quantities expressed in tons of CO2e, auditors can verify these transactions and their corresponding internal controls. Auditors can also perform an assessment covering the assertions of completeness, existence, accuracy, valuation, and presentation.

Reporting of sustainability-related data is within the purview of the governing bodies and subject to change. Downstream Scope 3 emissions and non-financial transactions are not yet part of this approach; however, future research could find ways to integrate those components.

Don’t Just Report Profits, Report Progress

Carbon reporting is a crucial aspect of a decarbonizing economy. Our new methodology fosters integrated thinking — between finance and sustainability — producing a clearer view of a company and their products’ carbon footprint.

“Our study has the potential to significantly transform carbon accounting practices,” Professor Dr. Jürgen Ernstberger, a primary contributor to this research, affirms.

It’s a win-win for the planet and the bottom line.

Key Takeaways

ERP-centric solutions enhance carbon reporting by:

Increasing connectivity on a transactional level between financial and non-financial dataLeveraging established auditing procedures when accounting for carbonFostering integrated thinking on all hierarchical levels by providing carbon information on the same granular level as financial informationProducing more insightful and comprehensive reports, boosting confidence among key stakeholders and investors

To learn more, read the full report.

Feature by Stephan Mueller

What if enterprise decisions considered both profit and planet, empowering every level of a company to make better product, pricing, financial, and investment choices? It’s not only possible, it is an achievable reality according to new research conducted by SAP and Technical University of Munich.

Carbon management can add emission quantities to existing financial accounting and connect emissions and finance at the transactional level — transforming carbon accounting practices, producing a more comprehensive view of a company’s sustainability position. With this added dimension, decision-making becomes more integrated and efficient. By shifting the carbon management mindset, companies can also provide investors with more decision-useful information.

The research shows there are clear benefits and opportunities to businesses that are ready to rethink carbon management, embrace transparency, and treat carbon as money in their financial accounting and reporting practices.

Reimagining Carbon Management

A recent study by the Technical University of Munich and SAP generated some promising results and opportunities for carbon management enhancements with an ERP-centric approach. The study introduced the concept of consistently adding carbon data to a company’s general ledger transactions. This significant change allows carbon accounting to be transaction driven, with journal entries consisting of both monetary values and carbon emissions. The modification enables integrated thinking, on all hierarchical levels, by considering carbon emissions at the same level of reliability and consistency as financial information.

Beyond environmental responsibility, this innovative approach unlocks additional advantages. Merging carbon data with financials strengthens the very foundation of a company: the data itself. Balance sheets and income statements will represent a more complete picture of a company’s impact. This level of transparency and elevated quality of data empowers investors and decision makers while advancing decision-useful information.

Quality of data — from inside and outside a company’s core operations — is also critical when moving toward embedding artificial intelligence (AI) across business processes and analytics. AI will help companies accelerate their sustainability impact by improving operational efficiency, fostering greater transparency around emissions, automating reports, and complying with ever-evolving regulations.

Global Transparency

Carbon reporting is rapidly becoming a standard requirement for business. The common denominator is the set of requirements put forth by the Greenhouse Gas (GHG) Protocol. SAP proactively anticipated and closely monitors the laws and regulations developing in this sector.

With the global trends toward a low-carbon, modern economy driving business transformation, SAP developed SAP Green Ledger, an ERP-centric solution that builds on existing financial accounting practices and applies them to carbon accounting standards.

This new ledger-based accounting elevates greenhouse gas counting to true accounting using financial steering dimensions. By doing so, SAP Sustainability solutions are set apart through deep integration with SAP cloud ERP solution business processes, providing precise and actionable insights rather than the estimates/averages in competing solutions. This unique approach will empower companies to go beyond regulatory compliance and embed sustainability into their operation to drive meaningful change. By aligning business processes with sustainability goals, companies can pave the way for a sustainable future.

Make Carbon Audit-Ready

To reach net-zero targets, most companies must consider carbon offsets as part of their decarbonization journey. SAP’s carbon management approach recognizes offsets as intangible assets.

With SAP Green Ledger, both carbon and financial information are recorded, resulting in a carbon flow statement that shows carbon emissions across all three scopes. The flow items incorporate initial, additional, exiting, and ending carbon balances, as well as emissions not allocated to an asset position in the balance sheet. Adoption of this new carbon accounting process could take different forms, but all leverage the existing ERP system and general ledger accounts.

Standard auditing procedures were also considered and accommodated for in this methodology. Since carbon emissions are allocated to transactions as quantities expressed in tons of CO2e, auditors can verify these transactions and their corresponding internal controls. Auditors can also perform an assessment covering the assertions of completeness, existence, accuracy, valuation, and presentation.

Reporting of sustainability-related data is within the purview of the governing bodies and subject to change. Downstream Scope 3 emissions and non-financial transactions are not yet part of this approach; however, future research could find ways to integrate those components.

Don’t Just Report Profits, Report Progress

Carbon reporting is a crucial aspect of a decarbonizing economy. Our new methodology fosters integrated thinking — between finance and sustainability — producing a clearer view of a company and their products’ carbon footprint.

“Our study has the potential to significantly transform carbon accounting practices,” Professor Dr. Jürgen Ernstberger, a primary contributor to this research, affirms.

It’s a win-win for the planet and the bottom line.

Key Takeaways

ERP-centric solutions enhance carbon reporting by:

Increasing connectivity on a transactional level between financial and non-financial dataLeveraging established auditing procedures when accounting for carbonFostering integrated thinking on all hierarchical levels by providing carbon information on the same granular level as financial informationProducing more insightful and comprehensive reports, boosting confidence among key stakeholders and investors

To learn more, read the full report.

Originally published in Enbridge’s 2023 Sustainability Report

It’s been 75 years since our incorporation as Interprovincial Pipeline and the beginnings of Enbridge’s critical role in delivering energy to people across North America. As we celebrate this milestone, we look to the future with a new vision: to provide energy in a more planet-friendly way, everywhere people need it. This vision shapes our strategic decisions and actions as we move forward with a diversified portfolio across liquids, natural gas and renewables, and a global mindset to provide energy to people and regions throughout the world.

Meeting energy demand amidst an energy transition 
The world is facing an urgent need to reduce greenhouse gas emissions and transition to a lower-carbon economy. At the same time, global energy demand is rising, and the continued war in Ukraine, conflict in the Middle East and lingering inflation have highlighted the importance of energy reliability, affordability and access. Against this backdrop, Enbridge believes in taking a practical and balanced approach, with energy systems that include responsibly produced natural gas and oil, as well as renewable power and lower-carbon options.

The U.S. natural gas utilities acquisitions we announced in September 2023 are a transformative opportunity that not only establishes Enbridge as the largest (by volume) natural gas distribution company in North America but also supports our growth as a more diversified company. These utilities share our commitment to embedding sustainability in operations and advancing lower-carbon initiatives. The acquisitions also enable us to provide safe, reliable and affordable energy to an additional three million customers across the United States.

The first-choice energy delivery company 
Every day, we strive to be the first-choice energy delivery company in North America and beyond—for customers, communities, investors, regulators, policymakers and employees.

We’re proud of our strong record of governance and longstanding sustainability leadership and we remain focused on achieving the ambitious environmental, social and governance (ESG) goals we set in 2020. In this, our 23rd Sustainability Report, we share that we surpassed both of our Board diversity goals and have made solid progress on our goals for employee representation of underrepresented ethnic and racial groups in our workforce. That said, we still have work to do—particularly with respect to the representation of women, U.S. veterans and persons with disabilities. We have experienced very little turnover in recent years, which has limited our opportunities to achieve gains in our diverse employee base. We continue to actively work to build a diverse talent pool and a more inclusive, dynamic and innovative team.

During 2023, we achieved our goal to reduce the emissions intensity of our operations from 2018 levels, and we’ve also reduced our absolute methane emissions by 40% during the same period. These results are encouraging and teams across Enbridge are focused on maintaining and improving upon our progress to date.

Safety continues to be a dedicated focus for all employees. In 2023, we maintained an industry-leading benchmark for integrity management, and we achieved record performance for occupational and process safety. Still, there is more work ahead of us.

Advancing Indigenous inclusion and opportunity 
Indigenous reconciliation across our host communities, together with inclusion and awareness throughout our Company, continues to be foundational. We have made good progress on the commitments in our Indigenous Reconciliation Action Plan, meeting 10 of the 22 commitments outlined in 2022. This includes establishing our Indigenous Advisory Group, setting a $1 billion Indigenous spend target, and advancing Indigenous representation within our workforce.

Tomorrow is on 
While the economic and environmental challenges before us are great, we are prepared. Enbridge is in a strong position to navigate the headwinds and realize the opportunities presented to us. Put simply, we believe the world will need all forms of energy to meet demand while reducing emissions. Our strategy to grow our businesses, increase access to global markets and invest in lower-carbon platforms takes the big picture into account—now and longer term.

We are excited about our future and focused on our “Next 75”— aligning on a north star of a sustainable energy future that is guided by our values and centered around shifting the fundamentals of how we think, how we work, how we support our customers and each other, and how we deliver energy, everywhere people need it.

We are honored to lead Enbridge into the next phase of growth and to lead a high-performance team that shares our passion for the business and our mission to be the first-choice energy delivery company.

Sincerely,

Gregory L. Ebel 
President and Chief Executive Officer

Pamela L. Carter 
Chair, Board of Directors

Read more

Originally published in Enbridge’s 2023 Sustainability Report

It’s been 75 years since our incorporation as Interprovincial Pipeline and the beginnings of Enbridge’s critical role in delivering energy to people across North America. As we celebrate this milestone, we look to the future with a new vision: to provide energy in a more planet-friendly way, everywhere people need it. This vision shapes our strategic decisions and actions as we move forward with a diversified portfolio across liquids, natural gas and renewables, and a global mindset to provide energy to people and regions throughout the world.

Meeting energy demand amidst an energy transition 
The world is facing an urgent need to reduce greenhouse gas emissions and transition to a lower-carbon economy. At the same time, global energy demand is rising, and the continued war in Ukraine, conflict in the Middle East and lingering inflation have highlighted the importance of energy reliability, affordability and access. Against this backdrop, Enbridge believes in taking a practical and balanced approach, with energy systems that include responsibly produced natural gas and oil, as well as renewable power and lower-carbon options.

The U.S. natural gas utilities acquisitions we announced in September 2023 are a transformative opportunity that not only establishes Enbridge as the largest (by volume) natural gas distribution company in North America but also supports our growth as a more diversified company. These utilities share our commitment to embedding sustainability in operations and advancing lower-carbon initiatives. The acquisitions also enable us to provide safe, reliable and affordable energy to an additional three million customers across the United States.

The first-choice energy delivery company 
Every day, we strive to be the first-choice energy delivery company in North America and beyond—for customers, communities, investors, regulators, policymakers and employees.

We’re proud of our strong record of governance and longstanding sustainability leadership and we remain focused on achieving the ambitious environmental, social and governance (ESG) goals we set in 2020. In this, our 23rd Sustainability Report, we share that we surpassed both of our Board diversity goals and have made solid progress on our goals for employee representation of underrepresented ethnic and racial groups in our workforce. That said, we still have work to do—particularly with respect to the representation of women, U.S. veterans and persons with disabilities. We have experienced very little turnover in recent years, which has limited our opportunities to achieve gains in our diverse employee base. We continue to actively work to build a diverse talent pool and a more inclusive, dynamic and innovative team.

During 2023, we achieved our goal to reduce the emissions intensity of our operations from 2018 levels, and we’ve also reduced our absolute methane emissions by 40% during the same period. These results are encouraging and teams across Enbridge are focused on maintaining and improving upon our progress to date.

Safety continues to be a dedicated focus for all employees. In 2023, we maintained an industry-leading benchmark for integrity management, and we achieved record performance for occupational and process safety. Still, there is more work ahead of us.

Advancing Indigenous inclusion and opportunity 
Indigenous reconciliation across our host communities, together with inclusion and awareness throughout our Company, continues to be foundational. We have made good progress on the commitments in our Indigenous Reconciliation Action Plan, meeting 10 of the 22 commitments outlined in 2022. This includes establishing our Indigenous Advisory Group, setting a $1 billion Indigenous spend target, and advancing Indigenous representation within our workforce.

Tomorrow is on 
While the economic and environmental challenges before us are great, we are prepared. Enbridge is in a strong position to navigate the headwinds and realize the opportunities presented to us. Put simply, we believe the world will need all forms of energy to meet demand while reducing emissions. Our strategy to grow our businesses, increase access to global markets and invest in lower-carbon platforms takes the big picture into account—now and longer term.

We are excited about our future and focused on our “Next 75”— aligning on a north star of a sustainable energy future that is guided by our values and centered around shifting the fundamentals of how we think, how we work, how we support our customers and each other, and how we deliver energy, everywhere people need it.

We are honored to lead Enbridge into the next phase of growth and to lead a high-performance team that shares our passion for the business and our mission to be the first-choice energy delivery company.

Sincerely,

Gregory L. Ebel 
President and Chief Executive Officer

Pamela L. Carter 
Chair, Board of Directors

Read more