Tag: 3BL

SWORDS, Ireland, June 12, 2024 /3BL/ – Trane Technologies (NYSE:TT), a global climate innovator, is expanding its support of Project Scientist, providing the education non-profit with a contribution of $1.2 million over the next three years. This additional investment expands upon the original $1 million in funding from Trane Technologies in 2021 to help Project Scientist extend its reach and support girls ages 4-12 with innovative STEM programs in new communities.

Building on the program’s successful results in the first three years, this additional investment will fund Summer STEAM (science, technology, engineering, art, and math) Labs in communities where Trane Technologies has a significant workforce including Charlotte, North Carolina, Tyler, Texas, La Crosse, Wisconsin, St. Paul, Minnesota and Brea, California. The funding also supports an After-School STEAM Club in Monterrey, Mexico and virtual Scholar programs that will transition to an in-person model in 2025.

These new Summer STEAM Labs programs are designed to challenge and inspire girls ages 4-12 to be innovative scientists and problem solvers and give them experience of what it’s like to work at a leading STEM (science, technology, engineering and math) company. Since 2021, more than 1,500 girls have taken part in the programs, engaging with over 700 employee volunteers who served as role models, proving students with real world exposure to diverse women who work in STEM careers.

“I am so proud of our continuing support of Project Scientist because I’ve seen firsthand the joy on the young girls’ faces as they interact with our team, learn about possible opportunities, and build confidence in their own abilities,” said Deidra Parrish Williams, Trane Technologies’ leader of Global Corporate Social Responsibility. “These innovative and inclusive programs from Project Scientist open a new world of possibilities for children in our communities and spark interest in STEM fields that will propel them into rewarding careers.”

“Project Scientist is grateful for the unwavering support of Trane Technologies,” said Dr. Patrice S. Johnson, CEO, Project Scientist. “Their commitment allows us to deliver exceptional STEAM out-of-school education programs across the United States and Monterrey, Mexico. Trane’s generosity combined with employee collaboration not only sustains our current programs but also enables us to scale and expand our reach in the coming years ensuring that students from historically marginalized communities have access to educational and career pathways to become future innovators and leaders.”

Trane Technologies’ support of Project Scientist aligns with the company’s 2030 Sustainability Commitments, which include a commitment to creating Opportunity for All through citizenship initiatives that provide access to equitable education and pathways to green and STEM careers.

The company’s corporate citizenship strategy, Sustainable Futures, is designed to support young, under-represented learners. Trane Technologies is investing $100 million and 500,000 employee volunteer hours by 2030 in programs that support this strategy. In 2023, the company donated over $18 million in philanthropic giving, an increase of 19% from 2022, and its team members volunteered 92,517 hours last year, putting the company at 47% of its 2030 goal.

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About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Visit tranetechnologies.com.

About Project Scientist 
Project Scientist is a 501 (c)(3) nonprofit delivering high-quality experiences in science, technology, engineering, arts, and math (STEAM) to girls from marginalized and underserved communities. We offer summer and after-school programs in partnership with local schools, school districts, nonprofit organizations, and STEM Companies. To date, Project Scientist has provided nearly 116,000 STEAM education experiences, impacting over 24,000 girls from communities across the United States and Mexico. Learn more at projectscientist.org.

This news release includes “forward-looking statements” within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our investment in education programs, our sustainability commitments and the impact of these commitments. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2023, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.

During the month of June, Entergy Arkansas is focusing our philanthropic efforts on food insecurity. One in five Arkansans faces hunger – and that number becomes one in four for children. Both statistics make the state the highest for food insecurity in the country.

Summer Cereal Drive

When schools close for the summer, children especially struggle to find food to replace breakfast and lunch they were receiving at school every day. Over 60% of children in Arkansas rely on free and reduced lunches, meaning when summer comes, they are struggling to fill the gaps that those meals provided.

Meeting the basic needs of our most vulnerable customers, such as providing hot meals, is foundational to Entergy’s corporate social responsibility objectives. Addressing food insecurity is a vital step in our strategy to develop and support poverty solutions.

Entergy Arkansas is there to help with the summer cereal drive and other programs to help children and their families get the nourishment they need. In fact, we’re the defending champions for the Arkansas Foodbank and KTHV Channel 11 Summer Cereal Drive.

Last year, we were the largest donor at just over $30,000 and some change. Every $1 donated can purchase one box of cereal, which provides five meals. And while the cereal and donations are collected in the summer, they are used to provide meals throughout the year to families in need.

We’ve pledged to defend our position and bring in even more donations this year. You’ll see us at donations sites across our service territory, including Little Rock, Pine Bluff, Cabot, Hot Springs and Russellville.

Year-round Giving

The Arkansas Foodbank serves Central Arkansas and is one of six Feeding America food banks that helped found the Arkansas Hunger Relief Alliance. The others include Food Bank of North Central Arkansas, Food Bank of Northeast Arkansas, Harvest Regional Food Bank, River Valley Regional Food Bank and the Northwest Arkansas Food Bank.

Entergy Arkansas is a longtime partner to the Alliance, which seeks to advocate on food policy, provide resources, source nutritious food, secure food and funding, promote nutrition education, increase out of school meals participation, and raise awareness of hunger in the state.

Last year, Entergy Arkansas donated $110,000 to the group as part of its Entergy Arkansas Bright Futures campaign celebrating 110 years in the state.

Since its founding in 2001, the Alliance has grown to include more than 500 members: the original six Feeding America food bank members, local food pantries, soup kitchens, food rescue organizations, global food wholesalers and retailers, state level hunger programs and hunger advocates from around the state who are working daily to reduce hunger in Arkansas.

Programs through the Alliance and sponsored by Entergy Arkansas this year will include the Hunger Action Breakfast, Serving Up Solutions, Watermelon Crawl and College Hunger Summit.

While we are putting a lot of effort into addressing food insecurity in June, you’ll also see us serving in our community in other ways. One grantee we’ll be volunteering to help with is Mosaic Templars Cultural Center Juneteenth in Da Rock commemoration, which happens all month long. It’s one of several ways we help create and celebrate diversity, inclusion and belonging for our employees and our communities.

During the month of June, Entergy Arkansas is focusing our philanthropic efforts on food insecurity. One in five Arkansans faces hunger – and that number becomes one in four for children. Both statistics make the state the highest for food insecurity in the country.

Summer Cereal Drive

When schools close for the summer, children especially struggle to find food to replace breakfast and lunch they were receiving at school every day. Over 60% of children in Arkansas rely on free and reduced lunches, meaning when summer comes, they are struggling to fill the gaps that those meals provided.

Meeting the basic needs of our most vulnerable customers, such as providing hot meals, is foundational to Entergy’s corporate social responsibility objectives. Addressing food insecurity is a vital step in our strategy to develop and support poverty solutions.

Entergy Arkansas is there to help with the summer cereal drive and other programs to help children and their families get the nourishment they need. In fact, we’re the defending champions for the Arkansas Foodbank and KTHV Channel 11 Summer Cereal Drive.

Last year, we were the largest donor at just over $30,000 and some change. Every $1 donated can purchase one box of cereal, which provides five meals. And while the cereal and donations are collected in the summer, they are used to provide meals throughout the year to families in need.

We’ve pledged to defend our position and bring in even more donations this year. You’ll see us at donations sites across our service territory, including Little Rock, Pine Bluff, Cabot, Hot Springs and Russellville.

Year-round Giving

The Arkansas Foodbank serves Central Arkansas and is one of six Feeding America food banks that helped found the Arkansas Hunger Relief Alliance. The others include Food Bank of North Central Arkansas, Food Bank of Northeast Arkansas, Harvest Regional Food Bank, River Valley Regional Food Bank and the Northwest Arkansas Food Bank.

Entergy Arkansas is a longtime partner to the Alliance, which seeks to advocate on food policy, provide resources, source nutritious food, secure food and funding, promote nutrition education, increase out of school meals participation, and raise awareness of hunger in the state.

Last year, Entergy Arkansas donated $110,000 to the group as part of its Entergy Arkansas Bright Futures campaign celebrating 110 years in the state.

Since its founding in 2001, the Alliance has grown to include more than 500 members: the original six Feeding America food bank members, local food pantries, soup kitchens, food rescue organizations, global food wholesalers and retailers, state level hunger programs and hunger advocates from around the state who are working daily to reduce hunger in Arkansas.

Programs through the Alliance and sponsored by Entergy Arkansas this year will include the Hunger Action Breakfast, Serving Up Solutions, Watermelon Crawl and College Hunger Summit.

While we are putting a lot of effort into addressing food insecurity in June, you’ll also see us serving in our community in other ways. One grantee we’ll be volunteering to help with is Mosaic Templars Cultural Center Juneteenth in Da Rock commemoration, which happens all month long. It’s one of several ways we help create and celebrate diversity, inclusion and belonging for our employees and our communities.

I am incredibly proud of our work in 2023 to continue meeting evolving consumer preferences and delivering strong results while making meaningful progress against our Environmental, Social and Governance (ESG) priorities. We made this progress despite ongoing global inflation and economic uncertainty, a testament not only to the power of our iconic brands, but also to our focused and strategic approach to sustainable growth and the passion of our amazing 91,000 colleagues around the world. 

This year we strengthened and refined our portfolio with substantial investments in our beloved brands through innovation, renovation and reformulation. This is coupled with acquisitions of companies such as Clif Bar & Company (Clif), whose commitment to well-being and the environment closely aligns with our mission and supports our purpose of empowering people to snack right. Furthermore, we continued to advance communication on Mindful Snacking and achieved quantifiable progress against the sustainability goals detailed in this report.

From reducing our climate impact through tangible actions, like transitioning to renewable energy sources across many of our manufacturing facilities, to scaling regenerative agricultural practices across our sustainable ingredient sourcing programs, we continue to build on progress against our 2025 ESG goals. I am pleased to say this year’s Snacking Made Right report demonstrates measurable action against our long-term ambitions, including the aspiration to reach gender parity across our business leadership teams and realize a goal of net-zero carbon emissions by 2050. 

Particularly amid a dynamic environment that faces rising inflation, we remain focused on more sustainable sourcing. Prices of cocoa, a key ingredient for many of our brands at Mondelēz International, have risen considerably as a result of declining supply of cocoa over the course of this calendar year, largely due to weather’s impact on crop yield. Our sourcing strategies and our Cocoa Life signature sustainable sourcing program continue to address these challenges and build a more resilient supply of this important ingredient. Through Cocoa Life, we have been investing to lift up people and restore landscapes where cocoa grows as we, and our sector more broadly, plan for the future. 

We have prioritized industry and sector-wide collaboration, partnerships and advocacy as essential to deliver against our longterm ambitions. As such, we work in partnership with suppliers and across our value chain, and we play a leadership role in industry coalitions, including the Consumer Goods Forum (CGF) which I CoChair and the World Cocoa Foundation (WCF) which my Chief Sustainability & Impact Officer Chairs. 

I’m delighted to note that our sustainability efforts have earned us high-profile recognition. In 2023, Barron’s placed us on its list of the 100 “Most Sustainable U.S. Companies,” and Newsweek named us one of “America’s Most Responsible Companies.” We have earned this recognition while continuing to win the loyalty of our consumers. 

The wide range of choices we offer as part of our Snacking Made Right mission, along with our strategic focus on chocolate, biscuits and baked snacks – categories we aim to represent 90% of our portfolio as part of our long-term growth strategy – strongly aligns with current consumer priorities. 

Our diverse portfolio and focused categories keep us at the forefront of snacking, where, as leaders, we continue to pave the way in proving the resiliency of our brands despite disruptions, challenges and emerging trends, including the advent of weight-loss drugs. We can confidently say snacking is here to stay and believe we are well positioned for long-term sustainable business growth. 

We know there is a continued place for mindful indulgence in a balanced lifestyle. Our chocolate portfolio in particular, including beloved brands such as Cadbury, Toblerone and Milka, is wellattuned to the 85% of consumers polled in 2023 who confirm they are likely to savor an indulgent snack. And our portfolio offers choice, featuring healthier alternatives such as belVita biscuits and whole-grain snack bars, as well as portion-control products that contain less than 200 calories and now generate nearly 20% of our sales. 

Our focus on mindful snacking is being applied across our entire portfolio in support of our mission to offer the right snack, for the right moment, made the right way. By 2025 we aim for up to 100% of our net revenue from our snacking portfolio through Mindful Portion Snacks, those in either individually wrapped mindful portion serving sizes or with mindful portion labeling. 

Driving against our ESG goals is fundamental to enabling our longterm growth, holding our leadership position in snacking and advancing a business that will remain resilient for many years to come. At the heart of this lies the winning growth culture we continue to create in support of our people who lie at the center of these efforts. 

We continue to map our disclosures against existing frameworks, including the Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD), in response to stakeholder feedback, and we continue to assess new frameworks and conventions for potential adoption. 

In 2024, we remain focused on further empowering people to snack right by honing our portfolio, strengthening our brands and continuing to execute with excellence and innovation. I believe that these efforts are setting us up for years of high-quality sustainable growth and I remain humbled to advance the important work of Snacking Made Right for generations to come.

Dirk Van de Put
Chairman & CEO, 
Mondelēz International

View the full 2023 Snacking Made Right Report

I am incredibly proud of our work in 2023 to continue meeting evolving consumer preferences and delivering strong results while making meaningful progress against our Environmental, Social and Governance (ESG) priorities. We made this progress despite ongoing global inflation and economic uncertainty, a testament not only to the power of our iconic brands, but also to our focused and strategic approach to sustainable growth and the passion of our amazing 91,000 colleagues around the world. 

This year we strengthened and refined our portfolio with substantial investments in our beloved brands through innovation, renovation and reformulation. This is coupled with acquisitions of companies such as Clif Bar & Company (Clif), whose commitment to well-being and the environment closely aligns with our mission and supports our purpose of empowering people to snack right. Furthermore, we continued to advance communication on Mindful Snacking and achieved quantifiable progress against the sustainability goals detailed in this report.

From reducing our climate impact through tangible actions, like transitioning to renewable energy sources across many of our manufacturing facilities, to scaling regenerative agricultural practices across our sustainable ingredient sourcing programs, we continue to build on progress against our 2025 ESG goals. I am pleased to say this year’s Snacking Made Right report demonstrates measurable action against our long-term ambitions, including the aspiration to reach gender parity across our business leadership teams and realize a goal of net-zero carbon emissions by 2050. 

Particularly amid a dynamic environment that faces rising inflation, we remain focused on more sustainable sourcing. Prices of cocoa, a key ingredient for many of our brands at Mondelēz International, have risen considerably as a result of declining supply of cocoa over the course of this calendar year, largely due to weather’s impact on crop yield. Our sourcing strategies and our Cocoa Life signature sustainable sourcing program continue to address these challenges and build a more resilient supply of this important ingredient. Through Cocoa Life, we have been investing to lift up people and restore landscapes where cocoa grows as we, and our sector more broadly, plan for the future. 

We have prioritized industry and sector-wide collaboration, partnerships and advocacy as essential to deliver against our longterm ambitions. As such, we work in partnership with suppliers and across our value chain, and we play a leadership role in industry coalitions, including the Consumer Goods Forum (CGF) which I CoChair and the World Cocoa Foundation (WCF) which my Chief Sustainability & Impact Officer Chairs. 

I’m delighted to note that our sustainability efforts have earned us high-profile recognition. In 2023, Barron’s placed us on its list of the 100 “Most Sustainable U.S. Companies,” and Newsweek named us one of “America’s Most Responsible Companies.” We have earned this recognition while continuing to win the loyalty of our consumers. 

The wide range of choices we offer as part of our Snacking Made Right mission, along with our strategic focus on chocolate, biscuits and baked snacks – categories we aim to represent 90% of our portfolio as part of our long-term growth strategy – strongly aligns with current consumer priorities. 

Our diverse portfolio and focused categories keep us at the forefront of snacking, where, as leaders, we continue to pave the way in proving the resiliency of our brands despite disruptions, challenges and emerging trends, including the advent of weight-loss drugs. We can confidently say snacking is here to stay and believe we are well positioned for long-term sustainable business growth. 

We know there is a continued place for mindful indulgence in a balanced lifestyle. Our chocolate portfolio in particular, including beloved brands such as Cadbury, Toblerone and Milka, is wellattuned to the 85% of consumers polled in 2023 who confirm they are likely to savor an indulgent snack. And our portfolio offers choice, featuring healthier alternatives such as belVita biscuits and whole-grain snack bars, as well as portion-control products that contain less than 200 calories and now generate nearly 20% of our sales. 

Our focus on mindful snacking is being applied across our entire portfolio in support of our mission to offer the right snack, for the right moment, made the right way. By 2025 we aim for up to 100% of our net revenue from our snacking portfolio through Mindful Portion Snacks, those in either individually wrapped mindful portion serving sizes or with mindful portion labeling. 

Driving against our ESG goals is fundamental to enabling our longterm growth, holding our leadership position in snacking and advancing a business that will remain resilient for many years to come. At the heart of this lies the winning growth culture we continue to create in support of our people who lie at the center of these efforts. 

We continue to map our disclosures against existing frameworks, including the Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD), in response to stakeholder feedback, and we continue to assess new frameworks and conventions for potential adoption. 

In 2024, we remain focused on further empowering people to snack right by honing our portfolio, strengthening our brands and continuing to execute with excellence and innovation. I believe that these efforts are setting us up for years of high-quality sustainable growth and I remain humbled to advance the important work of Snacking Made Right for generations to come.

Dirk Van de Put
Chairman & CEO, 
Mondelēz International

View the full 2023 Snacking Made Right Report

Case IH, a brand of CNH, attended the 29th Agrishow in Brazil showcasing more than 20 machines.

The main highlight, which draws attention for its size and robustness, is the Quadtrac AFS Connect 715.

The largest and most powerful tractor ever produced by the brand was presented at Agritechnica 2023, in Germany, and arrived in Brazil for the first time for the main agricultural technology fair in Latin America. The machine features an FPT Cursor 16 engine, with 715 hp, which can reach up to 778 hp. Recognized worldwide, the Quadtrac AFS Connect 715 has already earned Case IH AE50 awards for outstanding agricultural innovation, in addition to Good Design 2023, which highlights global industrial innovations and cutting-edge graphic designers.

Another machine that has guaranteed awards around the world is Case IH’s first 100% electric tractor concept, which was also presented at Agrishow 2024. Also recognized by the Good Design 2023 award, the Electric Farmall also secured the Farm Machine 2024, one of the most coveted in the agricultural engineering industry, in the Utility Tractor category.

With a completely new design, it represents the first concept of a utility tractor powered entirely by a battery pack and without an internal combustion diesel engine, environmentally friendly and with zero pollutant emissions. It is quiet and ideal for working in controlled environments such as greenhouses, sheds and with livestock. It has power, performance and technology.

Already available to rural producers, the new tractor of the Farmall family, the Farmall Max 140, has a 141 hp engine, the largest in the line. With a 16×16 semi-powershift transmission, it has new styling and factory connectivity, sending real-time data to AFS Connect. It has a high-capacity hydraulic system, with a 113L/min flow pump and three-point electronic lift, ensuring robustness, versatility and performance.

With the largest booth at the fair, Case IH presented even more news for rural producers. With more than 20 machines on display, with options from planting to harvesting, the brand also unveiled exclusive launches aimed at the agriculture of the future. These included, the ethanol-powered engine. The Cursor 13 engine is a prototype for the new fuel. The project is 100% Brazilian and developed in partnership with FPT Industrial. It is currently in the development phase and will be tested on Case IH sugarcane harvesters in the next harvest.

“The ethanol engine is a renewable fuel alternative, with a focus on reducing CO2 emissions, high performance and low operating costs. We see it as promising, especially for our customers in the sugar and alcohol sector who, in addition to contributing to the environment, will also have fuel and freight savings”, said Christian Gonzalez, Case IH’s vice president for Latin America.

Case IH, a brand of CNH, attended the 29th Agrishow in Brazil showcasing more than 20 machines.

The main highlight, which draws attention for its size and robustness, is the Quadtrac AFS Connect 715.

The largest and most powerful tractor ever produced by the brand was presented at Agritechnica 2023, in Germany, and arrived in Brazil for the first time for the main agricultural technology fair in Latin America. The machine features an FPT Cursor 16 engine, with 715 hp, which can reach up to 778 hp. Recognized worldwide, the Quadtrac AFS Connect 715 has already earned Case IH AE50 awards for outstanding agricultural innovation, in addition to Good Design 2023, which highlights global industrial innovations and cutting-edge graphic designers.

Another machine that has guaranteed awards around the world is Case IH’s first 100% electric tractor concept, which was also presented at Agrishow 2024. Also recognized by the Good Design 2023 award, the Electric Farmall also secured the Farm Machine 2024, one of the most coveted in the agricultural engineering industry, in the Utility Tractor category.

With a completely new design, it represents the first concept of a utility tractor powered entirely by a battery pack and without an internal combustion diesel engine, environmentally friendly and with zero pollutant emissions. It is quiet and ideal for working in controlled environments such as greenhouses, sheds and with livestock. It has power, performance and technology.

Already available to rural producers, the new tractor of the Farmall family, the Farmall Max 140, has a 141 hp engine, the largest in the line. With a 16×16 semi-powershift transmission, it has new styling and factory connectivity, sending real-time data to AFS Connect. It has a high-capacity hydraulic system, with a 113L/min flow pump and three-point electronic lift, ensuring robustness, versatility and performance.

With the largest booth at the fair, Case IH presented even more news for rural producers. With more than 20 machines on display, with options from planting to harvesting, the brand also unveiled exclusive launches aimed at the agriculture of the future. These included, the ethanol-powered engine. The Cursor 13 engine is a prototype for the new fuel. The project is 100% Brazilian and developed in partnership with FPT Industrial. It is currently in the development phase and will be tested on Case IH sugarcane harvesters in the next harvest.

“The ethanol engine is a renewable fuel alternative, with a focus on reducing CO2 emissions, high performance and low operating costs. We see it as promising, especially for our customers in the sugar and alcohol sector who, in addition to contributing to the environment, will also have fuel and freight savings”, said Christian Gonzalez, Case IH’s vice president for Latin America.

Brita’s efforts to make water better for people and the planet have come to life in the form of a beach-cleaning robot.

Fully electric and operated remotely, the BeBot — the newest innovation in litter removal technology — will comb beaches and remove litter of all shapes and sizes, including food wrappers, cigarette butts, aluminum cans and plastic water bottles. It cleans 32,000 square feet per hour, raking through sand without disrupting the beach environment. Removed litter collects in the BeBot’s basket and is analyzed by partners to understand potential sources and recycle what’s possible. Insights from the initiative are being used to raise awareness of plastic litter threats to coastal communities and to engage consumers and policymakers in finding solutions to plastic waste.

The litter removal robot, unveiled on Earth Day in partnership with the city of Detroit and Council of the Great Lakes Region, was made possible by generous funding from The Clorox Company and support from Midwest retailer Meijer. This initiative is part of the largest deployment of eco-friendly and remote-controlled devices across multiple states in the region. Our company’s investment will support the deployment of the BeBot on Belle Isle in the Detroit River for the 2024 season, which runs from April to October.

To see the BeBot in action and find out more about the BeBot initiative, visit the Belle Isle Conservancy website.

Brita’s efforts to make water better for people and the planet have come to life in the form of a beach-cleaning robot.

Fully electric and operated remotely, the BeBot — the newest innovation in litter removal technology — will comb beaches and remove litter of all shapes and sizes, including food wrappers, cigarette butts, aluminum cans and plastic water bottles. It cleans 32,000 square feet per hour, raking through sand without disrupting the beach environment. Removed litter collects in the BeBot’s basket and is analyzed by partners to understand potential sources and recycle what’s possible. Insights from the initiative are being used to raise awareness of plastic litter threats to coastal communities and to engage consumers and policymakers in finding solutions to plastic waste.

The litter removal robot, unveiled on Earth Day in partnership with the city of Detroit and Council of the Great Lakes Region, was made possible by generous funding from The Clorox Company and support from Midwest retailer Meijer. This initiative is part of the largest deployment of eco-friendly and remote-controlled devices across multiple states in the region. Our company’s investment will support the deployment of the BeBot on Belle Isle in the Detroit River for the 2024 season, which runs from April to October.

To see the BeBot in action and find out more about the BeBot initiative, visit the Belle Isle Conservancy website.

By Dan Lambe

The raucous waves of the voluntary carbon market in the last year have unsettled even the most seasoned of market leaders. Failed carbon credit projects have come under great public scrutiny and the ensuing criticisms have clouded the space with mistrust. Understandably, corporate leaders have become hesitant to purchase or invest. As a result, the market has remained woefully underutilized. The persistent uncertainty has proven a challenge in the Arbor Day Foundation and other’s efforts to leverage the market to accelerate the protection and restoration of forest ecosystems.

Yet in this moment, I feel nothing but hope.

In May, leaders at the federal level released the “Principles for Responsible Participation in Voluntary Carbon Markets.” The document is a recognition of the significant progress that’s been made in the market and a resounding affirmation of its critical function in the fight against climate change.

Up until now, private entities and voluntary initiatives have largely led the conversation in the voluntary carbon markets. Agencies like the Integrity Council for the Voluntary Carbon Market (ICVCM) and the International Carbon Reduction and Offset Accreditation (ICROA) have been incredible leaders in the industry, strengthening processes that weed out bad actors and create confidence for buyers. As a result, for the first time, the federal government has thrown its weight behind the market in a major way, signaling trust in its credibility. The joint response acknowledges that — as long as certain principles are upheld — the voluntary carbon markets have the potential to be a game changer in the scope of global climate action.

Treasury Secretary Janet Yellen announced these principles in collaboration with Agriculture Secretary Tom Vilsack, Energy Secretary Jennifer Granholm, as well as senior climate and economic advisors. Despite their differing priorities and areas of focus, these leaders are all united by the urgent need for engagement in the voluntary carbon market. They recognize that bolstering these markets yields not just a win for one, but a win for all.

When the government raises its hand and affirms the immense importance of the voluntary carbon market, it evokes convictions that will hopefully make corporate leaders feel more secure in taking steps toward investment. As an emerging market, it certainly needs rapid continuous improvement and actors with high integrity. But there’s no need to wait for perfection in order to act. There are knowledgeable leaders that can help corporations navigate challenges and adhere to the clearly defined principles now identified by the government.

While Yellen and her co-authors make it clear the list of principles stated in their guiding document is non-exhaustive, we at the Arbor Day Foundation are encouraged to see many of the government’s priorities align with our own. In our more than 50-year legacy, we have partnered with hundreds of corporations to help protect and restore critical ecosystems through reforestation. Many of those private sector leaders have chosen to invest in the forestry carbon market and our team of industry experts have helped match them to high-quality products. We engage in rigorous due diligence processes that includes fully vetting developers and their projects. We assess not only potential reputational and financial risks to corporate leaders, but also the likelihood of any environmental or social harm created by the project.

Like the government, the Foundation believes that carbon credit projects should be designed to deliver ‘co-benefits’ to local communities. Through forests, we can achieve this by providing food security, improving water quality, protecting wildlife and supporting livelihoods. The principles also encourage market participants to get involved in improving market integrity. At the Arbor Day Foundation, we are deeply invested in the effort to improve market integrity. Within our networks and within our team the Foundation’s work is executed by experts, including the Foundation’s managing director of carbon markets and former chair of ICROA, Jeremy Manion. The collective insights of our network are instrumental in our success in helping nurture a more robust and transparent market.

The Foundation is also glad to see the government inspire carbon credit users to publicly disclose the nature of their credits annually, at least. Increasing transparency is a way to ensure a rush to quality and, hopefully, encourage more people to get involved. As our team discussed in the Foundation’s 2023 Insights Summary, some corporate leaders have avoided talking about their carbon credit projects, for fear of being accused as ‘greenwashing.’ The effect, known as ‘greenhushing’, has led to more corporations sitting on the sidelines largely because they’ve rarely seen newcomers enter the market, assuming they must be perfect. Overall, it’s a roadblock in the growth of the market and the growth of high-quality supply.

At the Arbor Day Foundation, we hope these guidelines will steady the stormy waters of the market and restore trust, because our planet urgently needs more trees. In the end, that’s what this market is all about. By growing critical forest lands, we have the power to foster resilient communities and ecosystems worldwide.

This is important work. So, let’s start today.