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Watch the full commencement speech here.

It was an absolute honor to be back at my alma mater to address the MBA Class of 2024 at the Wharton School of the University of Pennsylvania. Delivering this commencement speech felt like a full-circle moment, not just for me, but as a celebration of the amazing journeys these future leaders are about to embark on.

As I stood before them, I thought about the sheer amount of anticipation, discovery and possibility that awaits each graduate. It gave me the unique opportunity to help connect the dots between everything they learned at Wharton and the lessons that can only come from just diving into the experiences that life brings.

Here’s what I shared:

Thank you for the great introduction, Dean James. Members of the faculty, families and supporters, and especially, to the graduates of 2024, thank you for inviting me to share this moment with you.

In a way, I come to you today from the future. As a Wharton grad who has been away from school for well over 30 years, I can represent in at least a couple of respects, a voice from your own future. And so with that perspective, I decided to title my talk today, “Things They Probably Forgot to Teach You in Business School.” Now, I know I do so at some risk, as I’m standing here in front of the dean and faculty and graduates of the greatest business school on earth, but what the heck, here goes. In all seriousness, these are FOUR things I wish I had appreciated when I was leaving this incredible place.

I’ll start with a simple one. Take a chance on yourself. No really — Go At Risk. It might sound obvious, but if you want others to take a chance on you, you have to go first.

They teach us management here at Wharton, and they do it better than anyone — but the first fallacy of management is the name. Managers aren’t here to manage things. Managers, at our best, are here to change things. Wharton grads are here to change trajectories. And in order to do that, you have to be willing to take a leap.

Think about it. Without people being willing to step up and step out, an organization will keep running, but it won’t keep getting better. For most organizations, just maintaining the status quo, or repeating last year’s then-successful results, would be considered a fail this year. Organizations are expected to successfully grow — and leaders are therefore here to bend the curve, not just manage it.

That is certainly the main lesson I’ve drawn from 12 years in leadership at T-Mobile. To me it is SO important to make sure that at T-Mobile, we are never satisfied with the status quo. This idea is codified in one of our five core values in our culture, and we call it “We Won’t Stop.” In the last 12 years, we’ve gone from a $6 billion market cap to $195 billion, and become the world’s most valuable telecommunications company of any kind, by doing one thing: constantly striving. Relentlessly finding new ways to grow, finding ways to be able to afford to do more for customers, to put them first, and to change the rules in their favor. To do that, we’ve had to step it up, and change some trajectories in our business, time and time again.

And listen, there’s only one way to do that. Take some smart risks — with your business, and therefore with yourself. Take your shot. Speak up. Raise your hand. Be the one who, day in and day out, jumps into the big, hard project, or blazes a new trail. When people see you taking a chance on yourself, an amazing thing will happen. They’ll begin to invest in you, too. It’s a simple formula: Take a chance on yourself, and inspire someone to take a chance on you.

Now, a quick caveat. If you talk to successful people my age, thriving at the top of their fields, whether in business or Hollywood or just about anywhere, most will tell you with some humility that LUCK played a big role in getting us here. Just plain luck. It’s true. But by stepping out, taking smart risks, not accepting the status quo, you can maximize your chances of being lucky. It often comes in the form of someone else being willing to take a chance on us, to give us an opportunity we wouldn’t have had otherwise. That comes from relationships. Take a chance on yourself, and find someone who will take a chance on you.

And that leads me to my second thought for you. If in doubt, reach out. Actively foster these relationships and connections you’ve made at Wharton and throughout life. Actively foster them. And no, “liking” somebody’s social media post doesn’t count.

It’s well known that business school is partly, and some would say perhaps even mostly, about the relationships that we make. But only YOU can determine the value of those relationships in your life, by actively fostering them.

The greatest highlight from my time here walked into my life on move-in day, first year. Suzanne and I became inseparable from that point on, and now we have been married more than 30 years! She’s the single best thing that ever happened to me, and she’s here with me today.

So, I can attest — the relationships you started here are important. It’s not too late to turn even casual acquaintances from your time here into lifelong friendships and relationships that matter. And I’m here, from the future, to tell you that this one thing will matter to you more and more as you go on.

I recently spent a fantastic weekend with four roommates and friends from my time here. We had a wonderful time, filled with meaningful conversations about the things that men our age experience, and about our time together back in school, and a lot more. And you know what, it was actually the first time all five of us were together for a non-wedding weekend since the day we left here, over 30 years ago. What a shame that is. I let long gaps in time emerge in these relationships, and I shouldn’t have. I would think about these guys often, but I didn’t usually reach out when I did. I always wondered if it would seem random, or even a bother. Daniel Pink, in his fantastic book “The Power of Regret: How Looking Backward Moves Us Forward,” points out repeatedly that most of the regrets people experience later in life are regrets of omission. It turns out that we regret the actions we didn’t take, more than the actions we did. And that goes to building relationships more than anything. If in doubt, reach out. …

The third thing they might have forgotten to teach you: Stoke your successes, instead of fighting your fires. In life and in business, pay less attention to trying to solve what’s not working, and more attention amplifying what is. Double down on the things that are working. Stoke your successes.

When it comes to career advice, for me, the phrase “follow your passions” puts a little too much pressure on younger people to know what their passion is. An easier hack is to figure out what’s working in your life, and do more of that. Something you find you’re good at, where your contributions seem to come naturally. Do more of it. Get help and coaching on those things, not the problem areas. Do even more, and get even better. This is about following your competence. I’ll promise you this: You’ll find yourself enjoying the things that you feel yourself getting better and better at. One of them might even become a passion.

Business is the same way. We’ve all seen those red/green/yellow-light dashboards that companies use to measure progress against goals across projects. But here’s the thing: Most companies are fixated on the red, obsessing over what’s going wrong. I think that’s a big mistake. I’m interested in the red, and solving an obvious problem can be very productive, but I am much more focused on the green — what’s working — and how to replicate and grow that success. It’s far more productive and rewarding to stoke successes than to constantly fight fires!

Rather than getting sucked into what’s broken, great leaders invest more energy making the green projects, well, greener. They focus on building on the team’s strengths and wins. Moving winning projects along faster. Investing more in successful projects. Something interesting then happens: Others across the organization start feeling motivated to replicate elements of the winning project’s success formula, and more wins tend to follow.

Don’t get me wrong … there will always be day-to-day problems we have to solve. But often, the higher ROI option is to zero in on the thing that’s working really well — and invest even more in it! Stoke your successes.

The final thing they might not have taught you here at Wharton? All business basically boils down to storytelling. I’m here to tell you that the essential skill of all business is storytelling. I’m talking about the power of authentic and truthful storytelling to advance your agenda, whatever it is.

Think about it. If you are a hiring manager recruiting a candidate, you are a storyteller. If you are a manager working to motivate your team, you are a storyteller. If you are leading engineers to build a new product, you are a storyteller first. Good finance people can maintain great spreadsheets, but the best finance people can tell the story that those numbers portray. The startups that get funded? They aren’t just the ones with the strongest financial plan — they are the ones with the strongest story. In a negotiation, having leverage is helpful, but successfully using that leverage to your advantage will depend on how you weave the story to bring your counterparty along.

And graduates, I’m sure you’ve learned already, when you are speaking with recruiters or investors about your career, you become the author of your own autobiographical story. It’s a story of where you’ve been, where you might be going, and why. And that “why” — the core motivation of the central character, you — is one of the most important parts of any story, especially yours. YOU have the power to connect with people’s emotions and inspire action, to disarm people with a laugh, and to humanize complex ideas and make them relatable. And you’ll find that these skills will become your most important tools, in business and in life.

In a few minutes, they are going to open those doors and send us all back out in the world, ending your brief two-year time here in the cozy bubble of Wharton. When they do, remember the things they don’t always teach in business school. Step out. Take a chance on yourself, and find someone who will take a chance on you. When in doubt, reach out. You won’t regret it. Commit to fostering these relationships you’ve built here for a lifetime. Stoke your successes. There’s nothing wrong with solving problems, but you’ll maximize your personal ROI by doubling down on the things that are working, in your life and your career. And be a storyteller. It is the essential art of business.

So, when they do open those doors, go out there and write your own story. And graduates, I can’t wait to see where your stories take you!

Congratulations to the Wharton Class of 2024!

In an effort to advance access to cancer prevention and early detection among U.S. workers, the Biden Cancer Moonshot recently announced a series of actions that organizations are taking to improve access and use of cancer screenings. We’re proud to be included on the list for our commitment to help increase screening rates among employees through personalized outreach. 

https://gilead.inc/4aqS42d

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California.

Originally published by Gilead Sciences

On Wednesday 15 May 2024, the Consumer Goods Forum hosted an Expert Session on Human Rights Due Diligence (HRDD), featuring esteemed experts from PepsiCo and Unilever. This important session highlighted the critical role of HRDD in today’s evolving regulatory landscape and underscored the significance of collaboration in fostering effective human rights practices.

This session highlights the significance of Human Rights Due Diligence (HRDD) in the rapidly evolving regulatory landscape of today. Through insightful discussions led by experts from Unilever and PepsiCo, the webinar emphasises why collaboration is key for companies to successfully implement HRDD. The positive impact of collaboration to achieve a remedy is illustrated by a practical case study of fee repayment, shedding light on the challenges and opportunities that we can tackle together. The webinar provides actionable insights and strategies for advancing HRDD practices within organisations and the broader industry landscape.

Expert Speakers:

Jaren Dunning, Senior Employment Counsel & Global Head of Human Rights, PepsiCoSmruti Govan, Human Rights & Sustainable Sourcing Director, PepsiCoRachel Cowburn Walden, Global Head of Sustainability (Human Rights), UnileverCarola Galeppinni, Global Senior Manager, Social Sustainability, Unilever

Watch the Recording

The recording of this insightful Expert Session with PepsiCo and Unilever is now available. Replay and equip yourself with the knowledge and strategies necessary to advance human rights due diligence within your organisation.

For more information about upcoming sessions and to stay updated on the latest from the Human Rights Coalition, sign up for our e-newsletter here.

The Expert Series

This session is part of the Expert Series, a Consumer Goods Forum initiative led by Dirk Van de Put, CEO of Mondelēz International, and Frans Muller, President and CEO of Ahold Delhaize. The series aims to mobilize member action around five ‘Acceleration Areas‘: enhancing employee health and well-being, ensuring human rights in supply chains, advancing packaging circularity, promoting deforestation-free supply chains, and advancing decarbonization.

Go to Acceleration Areas

This is the fourth in a series of Q & As with the Ceres experts who are engaging with companies to decarbonize six of the highest-emitting sectors of the economy. Click here to read the previous Q & A.

Q: Why is the decarbonization of the banking sector so important? How can it be achieved? 

Banks are at the center of the global economy. Almost every activity that affects the climate, whether it’s mining, manufacturing, or agriculture, needs financing. This pivotal role banks play is why it is so urgent that they work to eliminate carbon emissions—and climate risks—driven by their financing of their corporate and individual customers. By thoughtfully designing financial products and services that promote sustainability, banks can drive substantial improvements across every sector of the economy.

Q: How can that change be accomplished? 

Fundamentally, it is about aligning the financial best interests of both the bank and its clients with eliminating carbon pollution.

If a client wants to borrow money for a clean energy project, that money should come cheaper for that project than for a plan to extract fossil fuels, and the project should produce a better risk-adjusted return for the bank. This can only be done if the benefits and costs associated with climate change are fully reflected in asset prices and returns on investment – a situation which would produce a “green premium” shared between the client and the bank.

Q: Where do you see the biggest challenges? 

Right now, the “green premium” is hard to find. Policy and price signals are inconsistent– customers and investors often tell banks and their clients they want to reduce emissions, but they aren’t willing to pay for it. This is mostly due to short-term thinking. Compensation is based on quarterly or annual performance, and long-term planning at banks rarely extends beyond a five-year time horizon. Acting now to produce benefits 10-20 years into the future is difficult, even if those benefits are enormous.

A misguided political effort to block action is also not helping, as banks are, by nature, risk-averse institutions. While this risk aversion is good for financial stability, it means that even a hint of political or legal risk can have major impacts on decision-making.

Q: What are the biggest successes you have seen in recent months to move the sector closer to the goal of limiting warming to 1.5 C? 

The Inflation Reduction Act is having a major impact. The demand for clean energy finance as well as the profitability of such business has improved, and banks are taking advantage. For many banks, this business has moved from being a specialty offering to being a major driver of revenue, and this will only increase as these technologies continue to gain market share.

It’s also been exciting to see the largest global banks release transition plans – sets of actions they are taking to achieve for zeroing out their emissions. It’s great to see their climate commitments starting to turn into action.

Q: What drew you to your work on moving the banking sector to be more sustainable? 

I studied finance, but I’ve never been in it for the money, the status or the intrinsic nature of the work. I’ve always been interested in finance because of its usefulness – it influences and underlies everything. It’s a means to an end, and that end is increasing human flourishing.

Over the last 250 years, the ability to raise capital efficiently has been critical to the gains humanity has made. But further progress is not inevitable, and without sustainability solutions, I think the way forward is going to be much harder. That’s why I’ve chosen to focus my work in this area.

Read more about some of the work being done at Ceres to decarbonize the banking sector. 

ALSIP, Ill., May 28, 2024 /3BL/ – Griffith Foods, one of the largest food product development companies in the world, is proud to announce it has been selected as a 2024 US Best Managed company, making it the third year in a row to earn this designation. Now in its fifth year, the award, sponsored by Deloitte* Private and The Wall Street Journal, recognizes the achievements of U.S. private companies and the successes of their management teams.

“It’s an honor to be recognized three years in a row. It is a testament to the passion, dedication and hard work that our teams bring to work every day,” said Griffith Foods CEO, T.C. Chatterjee. “Griffith Foods is passionate about helping our customers create food that is healthy, sustainable, nutritious and preferred by our customers. Guided by our Purpose – ‘we blend care and creativity to nourish the world’ – everyone at Griffith Foods believes we are part of something bigger than ourselves. We greatly appreciate this recognition of our efforts as we strive to make a difference.”

US Best Managed Companies is part of a global Deloitte Private program. Honorees are selected by an external panel of judges who evaluate applicants based on strategy, ability to execute, culture, and governance and financial performance. They join an ecosystem of organizations from more than 44 countries.

Griffith Foods’ successful application highlighted the company’s triple bottom line approach, which guides the company to think about People, Planet and Performance at all times.

People: Taking care of employees and the communities in which it does business.Planet: Taking environmental action to responsibly take care of the Earth.Performance: Operating ethically and strategically to create positive impacts for its business and all of those with whom the company interacts.

About the Best Managed Companies Program

The Best Managed Companies program is a mark of excellence for private companies. U.S. designees have revenues of at least $250 million. Thousands of private companies around the world have competed for this designation in their respective countries through a rigorous and independent process that evaluates four key criteria in their management skills and practices — strategy, execution, culture, and governance/financials. For more information, visit www.usbestmanagedcompanies.com.

About Griffith Foods

Griffith Foods is the caring, creative product development partner helping food companies meet the evolving needs of consumers while sustaining the planet. As a family business founded in 1919 and headquartered in Alsip, Illinois USA, Griffith Foods is known for true, collaborative innovation guided by their Purpose of “We Blend Care and Creativity to Nourish the World”. The company’s product capabilities range from seasonings and marinades to coating systems and sauces that are better for people and better for the planet. For more information, visit www.griffithfoods.com.

View original content here.

Originally published on about.bnef.com

• The study details how the world can still meet the goals of the Paris Agreement, and achieve net zero by mid-century
• BNEF’s updated Net Zero Scenario traces the route to keeping the world on track for well below two degrees of warming and net zero by 2050, but time is running out to pursue this path
• The report shows nine keystone technologies that will make or break the net-zero transition and whose rapid deployment can help stall emissions
• The report’s base case, the Economic Transition Scenario, shows that mature, cost-competitive technologies can halve global emissions by 2050 compared with not taking further action
• The global analysis includes detailed modeling for 12 major economies and nine regions, and shows which countries’ climate commitments are aligned to net zero
• Investments required for BNEF’s Net Zero Scenario are only 19% more than the baseline Economic Transition Scenario

LONDON, May 28, 2024 /3BL/ – Although time is running out, BloombergNEF’s New Energy Outlook 2024 shows how the world could still achieve the major goal of the Paris Agreement – holding global warming to well below two degrees Celsius and avoiding the worst impacts of climate change – and what it would take to get there. The new report indicates that the speed with which clean technologies and decarbonization of the power sector are scaled up is crucial.

The New Energy Outlook 2024, the report published today by research provider BloombergNEF, presents two updated climate scenarios, the Net Zero Scenario (NZS) and a base case Economic Transition Scenario (ETS), designed to inform public policymaking, country climate ambition and low-carbon transition strategies of corporations and financial institutions.

The report’s NZS, which is consistent with a 67% chance of holding global warming to 1.75 degrees Celsius, sees demand for oil, gas and coal reach an immediate peak and fall into a steep decline starting from the year 2025. The power, transport, industry and buildings sectors transition at different speeds based on the technologies available for them to decarbonize, but all see emissions start to fall immediately. These short-term changes only come to pass thanks to a rapid scale-up of clean energy technologies, in particular a tripling of global renewable-energy capacity by 2030, rapid uptake of electric vehicles (EVs) leading to a full global phase-out of combustion engine vehicle sales by 2034, and a major scale-up of carbon capture technology, alongside energy storage and nuclear power, before 2030.

“The path to staying well below two degrees is narrowing,” said David Hostert, head of economics and modeling at BNEF and the lead author of the report. “In the 18 months since we last updated our global scenarios, the energy transition has certainly accelerated – but not nearly enough. This report should serve as a wake-up call: we need a rapid decline in emissions starting from now – not in five years’ time – if net zero by mid-century is to remain a possibility.”

Cleaning up the power sector accounts for almost half of emissions avoided between today and 2050, compared with a no-transition scenario where there is no further action on decarbonization. Electrification of end-use sectors, including road transport, buildings and industry, accounts for the next quarter of emissions. The solutions needed to abate the remaining quarter of emissions are among the most challenging to scale: biofuels in shipping and aviation; hydrogen in industry and transport; and carbon capture and storage in industry and power.

The New Energy Outlook also details a base case ETS, in which clean-energy technologies are only deployed where they are economically cost-competitive or adopted by consumer choice, with no further policy support for clean technologies. The affordability of renewable energy, especially solar and wind, means that they grow rapidly in this scenario, to 51% of global power generation by 2030, and 70% by 2050. The global power system is transformed and becomes much more flexible in order to accommodate high penetrations of wind and solar.

“Our hourly modeling shows that power systems can accommodate very high penetrations of wind and solar without incurring higher costs,” said Ian Berryman, lead energy systems modeler at BNEF. “With the aid of smart electric vehicle charging, battery storage and flexible generators, the most affordable power system of the future will be one based on a foundation of inexpensive renewables.”

The ETS also sees significant EV uptake, thanks to their increasing cost-competitiveness compared to conventional vehicles. Thanks to the combined impacts of clean power, EVs and energy efficiency, emissions in 2050 in the ETS are half what they would otherwise be without these technologies, or down 27% from current levels. This is far from achieving net zero – and breaches the Paris Agreement with a global warming result of 2.6 degrees Celsius – but demonstrates how far the energy transition can already go based on economical and commercially ready technologies. In this scenario, fossil fuels still play an important role in power, industry, transport and buildings sectors, but gas demand grows modestly while oil and coal demand are set to enter a period of structural decline.

Matthias Kimmel, head of energy economics at BNEF, said, “Renewable energy, electric vehicles and energy storage are already being deployed at scale and will only grow further in the next few years. These three technologies are no-regrets choices that can help countries reduce emissions, improve energy security and even reduce energy system costs today.”

BNEF has enhanced its modeling for the 2024 edition of the New Energy Outlook. The analysis now includes detailed modeling results for 12 countries and nine regions for both scenarios, and shows that:

• The current climate plans (Nationally Determined Contributions or NDCs) of Brazil, France, the UK, the US and Australia are the most aligned to BNEF’s Net Zero Scenario.
• Germany, South Korea, Japan and India have existing NDCs that are in line with or better than the Economic Transition Scenario – indicating they have scope to raise their ambition to align with the NZS.
• China, Indonesia and Vietnam have the most scope to raise ambition in their next Nationally Determined Contributions. Their current NDCs even fall short of the Economic Transition Scenario.

The report also sheds light on other important topics relating to the global low-carbon transition, including:

• The need to scale up nine key technologies in order to get on track for net zero. These are: renewable power, electric vehicles, battery energy storage, nuclear energy, carbon capture and storage, hydrogen, sustainable aviation fuels, heat pumps and power networks.
• A more nuanced picture of where low-carbon hydrogen can be most impactful in the energy transition, and where electrification plainly makes more sense.
• How the technologies above combine and interact to solve for decarbonization across power, transport, industry, and buildings.
• The investment volumes needed to achieve the ETS ($181 trillion globally to 2050) and the NZS ($215 trillion to 2050), and why these estimates are surprisingly similar (only 19% higher in the NZS).
• The importance of land-use considerations, given that low-carbon technologies typically require a larger land footprint than fossil-based sources, and the rising land demands for energy transition, food production and biodiversity preservation will need to be weighed up and co-optimized.

An executive summary of the New Energy Outlook 2024 is publicly available via the following link. For the first time, BNEF is also making available a limited data set of findings here.

BloombergNEF clients can find the full report and full data viewer on bnef.com and the Bloomberg terminal.

Contact
Oktavia Catsaros
BloombergNEF
+1 212 617 9209
ocatsaros@bloomberg.net

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

About BloombergNEF
BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.

Three of the top five sustainability commitments by businesses involve plastic reduction and 77% of them express a willingness to accept the cost of implementing sustainable practices.1 All in a bid to address consumers’ demand for sustainability – the key driving force for tackling environmental issues.

LAUSANNE, Switzerland, May 28, 2024 /3BL/ – Today’s food and beverage (F&B) companies are poised to minimise plastic as a favoured2 packaging material, as recent research has unveiled that three out of the top five commitments made by business leaders to address sustainability challenges include the reduction of plastic usage.3 Tetra Pak’s research examined F&B manufacturers’ attitude to sustainability, now and in five years’ time.4

Half of the surveyed businesses pinpointed consumer demand as the main catalyst behind implementing new sustainable solutions within the manufacturing and processing arena. This echoes the sentiment found in a separate Tetra Pak consumer study on packaging.5 It found the intention to buy among almost three out of four respondents (74%) would increase if a brand talked about environmental topics,6 while 42% believe that an “environmentally sound package” justifies a higher price,7 providing the industry with a reassuring case for adopting a business model that reduces environmental impact.

77% of businesses expressed a willingness to accept cost-related trade-offs associated with the implementation of sustainable manufacturing and processing solutions,8 despite the industry facing ongoing macro-economic challenges. This insight follows COP28, which saw many private sector stakeholders committing to sustainability targets and initiatives, including Tetra Pak’s action-oriented approach towards food systems transformation.9

Business’ focus on environmental impact is seemingly at a tipping point, with the urgency to adopt practices that decarbonise the world’s food systems predicted to surge by 10% in the next five years, from 49% to 59%. When asked how packaging and processing suppliers can contribute, 65% of companies identified the importance of new product developments, confirming the critical role played by innovation in our global fight against climate change.

Gilles Tisserand, Vice President Climate & Biodiversity, Tetra Pak, comments: “The food and beverage industry is at a critical moment, rethinking its way of doing business to help address the climate emergency and dealing with the inevitable impact this has on their operations and solutions. They are looking to suppliers to help them thrive in an increasingly competitive market, and we remain committed to playing our part, keeping the innovation engine running to develop new research, collaborative ecosystems and product offering.”

He continues: “Our innovation pathway is driven by renewability and recyclability, ensuring the decarbonisation and circularity of materials and addressing the need for sustainable food packaging. Findings such as the fact that cartons are considered by consumers to be the most ‘environmentally sound’ beverage package, while plastic is considered the least,10 are a testament that we are on the right path. You only need to look at the fact that we sold 46% more packages made with plant-based polymers in 2023 compared to 202111 to see that the industry is committed to change.”

Media contacts

Lucia Freschi  
Tetra Pak 
Tel: +39 347 2632237 
Lucia.freschi@tetrapak.com 

1To the question “Please evaluate the willingness of your company to accept various trade-offs while implementing sustainable solutions within manufacturing/processing area” 41% responded they will definitely accept cost-related trade-offs, 36% will probably accept cost-related trade-offs, 10% neither won’t nor will accept, 11% probably won’t accept, 3% definitely won’t accept. 
2According to the UN, 36 per cent of all plastics produced are used in packaging, source https://www.unep.org/interactives/beat-plastic-pollution/#:~:text=Approximately%2036%20per%20cent%20of,landfills%20or%20as%20unregulated%20waste 
3The top five commitments were reducing dependency on plastic; reduction of plastic packaging demand in food delivery; reduction of food waste in F&B plant; reduction of plastic packaging waste in F&B value chain; logistics improvement across value chain. 
4Tetra Pak’s business-to-business research on Planetary Challenges and their impact on F&B manufacturers’ operations has been run in 2023, based on a combined methodology – quantitative research panel and qualitative component (expert interviews). Qualitative research included approx. 20 interviews conducted with Tetra Pak’s internal experts plus 12 with the F&B manufacturers, distributed across all regions that are within the scope of the project. Quantitative research comprised 346 interviews across 19 markets (Italy, Poland, Spain, France, Germany, UK, Australia, India, South Africa, Mexico, Argentina, Brazil, China, Vietnam, USA, South Korea, South Arabia, Turkey, Japan). 
5Tetra Pak’s latest Sustainable Packaging consumer research, run in 2023, comprised a total of 14,500 consumer interviews based on an online questionnaire in 29 markets: Germany, France, UK, Italy, Belgium, Denmark, Netherlands, Poland, Portugal, Romania, Spain, Sweden, Saudi Arabia, Turkey, South Africa, Egypt, China, India, Japan, Australia, Indonesia, Philippines, South Korea, Vietnam, Brazil, USA, Mexico, Colombia, Argentina 
6To the question “If a brand communicates/talks about environmental topics, your intention to buy the brand would…” 74% responded it would increase. Base TOTAL 2023: 14539. 
7To the question “Which of the following sentences better fits with your thought about an environmentally sound packaging?” 42% responded that a product in an environmentally sound packaging is worth a higher price than a product in a standard packaging. 
8To the question “Please evaluate the willingness of your company to accept various trade-offs while implementing sustainable solutions within manufacturing/processing area” 41% responded they will definitely accept cost-related trade-offs, 36% will probably accept cost-related trade-offs, 10% neither won’t nor will accept, 11% probably won’t accept, 3% definitely won’t accept. 
9https://www.tetrapak.com/about-tetra-pak/news-and-events/newsarchive/tetra-pak-unveils-action-oriented-approach-towards-food-systems-transformation 
10To the question “Which one of the following types of packaging for beverage do you believe is the most environmentally sound?” 41% respondents chose carton package, 37% glass bottle, 8% plastic bottle 8% metal can, 3% plastic cup, 3% plastic pouch. To the question “Which one of the following types of packaging for beverage do you believe is the least environmentally sound?” 32% said plastic bottle, 23% plastic pouch, 17% plastic cup, 13% metal can, 9% glass bottle, 6% carton package. 
11Tetra Pak sold 7.1 billion packages with plant-based polymers in 2021, 8.8 billion packages with plant-based polymers in 2022 and 10.4 billion packages with plant-based polymers in 2023. Volumes exclude Blend in BIO (BiB) sold in Brazil. BiB is a mix of 75% LDPE and 25% plant-based LDPE.

Marking its 23rd year of publishing, Savoy Magazine proudly introduces the 2024 Most Influential Executives in Corporate America in its largest second edition. This special issue showcases a dynamic group of CEOs, COOs, and top executives who exemplify exceptional leadership and influence in the corporate world.

Tapestry is proud to share that David L. Casey is Chief Inclusion & Social Impact Officer for Tapestry, has been named to the list for the second year in a row. Tapestry and our brands are founded upon a creative and consumer-led view of luxury that stands for inclusivity and approachability.

In this role, Casey has global responsibility for Tapestry’s Equity, Inclusion and Diversity strategy and oversees Tapestry’s Social Impact programs through advocacy, philanthropy, impact investing and volunteerism.

The selection process for the Most Influential Executives in Corporate America involved meticulous review of accomplishments in corporate influence, scholastic achievement, career growth, community outreach, and recognition. This year’s list features over 300 distinguished professionals across various industries, demonstrating breadth and depth of talent in leadership.

With more than twenty years of experience as a corporate chief diversity officer, Casey has served or currently serves as a board member or in an advisory role for several national organizations including Orion Talent, Disability: IN (co-chair of the Disability Equality Index), the American Lung Association, appointment to the U.S. Secretary of Labor’s Advisory Council on Apprenticeship and the Indianapolis and Eastern Massachusetts affiliates of the National Urban League.

Casey is also an eight-year veteran of the United States Marine Corps, having served in Operation Desert Storm.

Fraud prevention is an ongoing concern for small business owners, who continue to be vigilant of evolving fraud tactics and implement preventative measures to stop potential future attacks. KeyBank’s 2024 Small Business Survey found that small business owners’ biggest concern is payment fraud, such as unauthorized transactions or unauthorized electronic fund transfers (44%.) Closely following is identify theft (37%), malware and ransomware attacks (28%) and phishing and email scams (27%).

As technology evolves, small business owners must stay alert to protect their business from information theft and payment fraud. Falling for scams can have long-lasting effect on a business, impacting potential profit and relationships with customers. Learn more about advice KeyBank provides to business owners about business security and risk management.

“With the introduction of new technology over the last several years, small businesses are some of the many that have fallen victim to fraudulent activity,” said Mike Walters, President of Business Banking at KeyBank. “It’s important for owners to have a plan in place and KeyBank is proud to provide resources that can help their business run better.”

Small businesses are the heart of many communities across the country. Their storefronts become part of neighborhood culture and contribute to the community by providing jobs to locals. KeyBank is dedicated to supporting low-to-moderate income (LMI) communities as well as providing community investments to bring access to capital to local businesses. In 2023, we provided $267.7 million in small business lending to LMI communities and, in 2020 and 2021, processed 69,000 loansthrough the Paycheck Protection Program (PPP), providing more than $11.2 billion in critical funding to small and mid-size businesses.

KeyBank, a top SBA lender1, has provided more than $4.5 billion in small business loans and lines of credit. Most recently, KeyBank received their 11th consecutive “Outstanding” rating from the Office of the Comptroller of the Currency (OCC) on its most recent Community Reinvestment Act (CRA) exam. 

Learn more about KeyBank’s opportunities and programs for your small business by visiting key.com/small-business. KeyBank offers a range of tools, including the KeyBank Small Business Check-In, KeyBank Small Business Financial Review and the Business Cash Flow Calculator. For resources on how to protect your small business from fraud, read the Protect Your Business Checklist and Protecting Your Organization against Payment Fraud.

Methodology

This survey was conducted online by Survey Monkey. 1,983 respondents, ages 18-99, located in the United States, who own or operate a small-to-medium size business with an annual gross revenue of less than $10 million, completed the survey in March 2024. Learn more about KeyBank’s opportunities and programs for your small business by visiting key.com/small-business. KeyBank offers a range of tools, including the KeyBank Small Business Check-In, KeyBank Small Business Financial Review and the Business Cash Flow Calculator.

CFMA #240508-2592788

This material is presented for informational purposes only and should not be construed as individual tax or financial advice. KeyBank does not provide legal advice. All credit products and SBA Loans are subject to approval, terms, conditions, and availability and subject to change. Key.com is a federally registered service mark of KeyCorp. ©2024 KeyCorp

1Source: Statistics released by the U.S. Small Business Administration (SBA) October 2023 for total approved loans through the SBA’s 7(a) lending program during the federal fiscal year ending 10/2023.

In the quest for sustainability, imagine a scenario where waste management isn’t just a necessary task, but a pivotal component of a circular economy. In Brazil, this isn’t a hypothetical for DP World—it’s reality. Since the launch of the Aterro Zero (Portuguese for “Zero Landfill”) initiative in 2022, DP World has transformed waste management into a cornerstone of sustainable energy production, underscoring a commitment to innovative environmental stewardship.

Turning Waste into a Resource

Aterro Zero is not just a policy; it’s a revolutionary shift in how waste is perceived and handled. Through this initiative, DP World Brazil has achieved a remarkable feat—100% of the non-recyclable waste generated on-site is converted into sustainable energy. This encompasses an impressive , including materials like cellulose, patio sweepings, and organic waste, which are transformed into fuel for cement kilns using the cutting-edge CDRU technology (Fuel Derived from Urban Solid Waste).

In 2022 alone, DP World reused 1,761.51 tons of waste, with this figure rising to 1,873.03 tons in 2023. These efforts are meticulously tracked through monthly metrics, KPIs, and environmental indicators, ensuring that every piece of waste is accounted for and utilized.

Beyond Environmental Impact

The benefits of the Aterro Zero program extend far beyond environmental preservation. By transforming waste into energy, DP World Brazil is not only conserving natural resources and raw materials but also significantly reducing greenhouse gas emissions. This initiative also fosters substantial social benefits, including job creation and enhancements in public health—key factors that contribute to its broader societal impact.

Moreover, the program has strengthened DP World’s relationships with various stakeholders—suppliers, customers, partners, and investors—linking them directly or indirectly to the project and reinforcing their commitment to sustainable practices.

Recognition and Leadership

DP World’s efforts were recently recognized with a prestigious 2024 Environmental Initiative Award from the SEAL Business Sustainability Awards. This accolade is a testament to the company’s leadership, innovation, and unwavering commitment to sustainability.

Educational and Operational Excellence

A critical aspect of Aterro Zero’s success is the continuous education and training of both operational and administrative teams, along with outsourced firms handling waste management tasks. Proper waste segregation is vital to ensuring that 100% of the material is reused or recycled, aligning with the initiative’s ambitious goals.

The Bigger Picture

By eliminating the need to send waste to landfills, DP World Brazil is actively preventing methane and carbon dioxide emissions—significant contributors to the greenhouse effect in urban areas. This approach not only addresses environmental concerns but also sets a new standard in the industry, positioning DP World as a leader in global port operations and environmental responsibility.

Looking Forward

As we continue to confront global environmental challenges, DP World Brazil’s Aterro Zero initiative serves as a beacon of what is possible when companies integrate sustainability into their core operations. It’s a clear demonstration of how innovative thinking and responsible management can turn waste—often seen as a problem—into a valuable resource for the betterment of our planet and future generations.

Learn more about DP World’s Aterro Zero initiative.

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