Tag: 3BL

Company moving from planning to execution phase of energy transitionReliability and affordability remain cornerstones of success

CHARLOTTE, N.C., May 23, 2024 /3BL/ – In 2023, Duke Energy (NYSE: DUK) executed its strategy, achieved significant regulatory and policy milestones, and ensured affordability and reliability for customers in the face of rapidly rising interest rates and extremely mild weather, CEO Lynn Good told investors during the company’s annual shareholders meeting today.

These accomplishments come at a critical time as the company enters a new era of record grid investments and generation build to meet customers’ evolving needs and service the rapid growth in its service territories.

“I’m pleased with how the 27,000 teammates at Duke Energy built momentum for the future, navigating the challenges and emerging a stronger organization. We are excited about the path forward as a fully regulated utility and look forward to capitalizing on the unprecedented growth and investment opportunities ahead,” Good said.

Good cited several strategic milestones in 2023 that set the company up for success:

“We completed our portfolio repositioning work, as we sold our commercial renewables business and became a fully regulated company. This strategic move allows us to focus on the significant investment opportunities within our regulated businesses.”“We added 195,000 new customers in 2023 alone – the largest customer increase in company history. And we are projecting average overall load growth of 1.5% to 2% per year through 2028.”“We saw constructive outcomes from state commissions in five electric rate cases and one natural gas rate case. These rulings in the Carolinas, Kentucky and Ohio equate to $45 billion of historic and future rate base investments and also recognize the higher cost of capital. This will help us continue to deliver value to customers and shareholders.”“We also filed an updated Carolinas Resource Plan in August 2023 that outlines the road ahead for the next 15 years in our largest jurisdictions.”“We are taking a systematic approach to updating the grid – the largest focus of our capital plan over the next five years – because transforming and readying our system starts with the grid.”“Duke Energy is also pursuing emerging technologies needed in the 2030s and beyond to reach our climate goals, including plans to build and operate the nation’s first solar-to-100% hydrogen fueled turbine, expected to be operational by year-end.”

Operational excellence and safety underpin Duke Energy’s strategic progress

Recently appointed President Harry Sideris, who oversees the company’s electric and gas utilities, joined Good for the meeting and reinforced the strength of the company’s fundamentals.

“I continue to be impressed by this team and their commitment to excellence as we serve our investors, customers and communities and know our ongoing focus will yield consistently strong results,” said Sideris.

Sideris covered several key accomplishments:

“Our generation fleet performed well during extreme weather conditions last year including historic storms in Indiana and Florida.”“Outstanding performance continued across our organization, with our nuclear fleet achieving a capacity factor of 96% – the 25th consecutive year above 90%.”“And I’m particularly proud to report 2023 marked the best safety performance in Duke Energy history.”

Other business

Also at today’s meeting:

Good and Sideris fielded shareholder questions on a range of topics. The company will post responses to questions on its website.Shareholders elected all 14 nominees to the company’s Board of Directors.A nonbinding shareholder proposal regarding a requirement for named executives to retain significant stock did not receive the support of a majority of votes cast.A second nonbinding shareholder proposal regarding financial statement assumptions and climate change did not receive the support of a majority of votes cast.

A replay of the meeting will be posted on Duke Energy’s investors page.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

View original content here.

Learn how Josh Parsons and his team are combining traditional breeding with modern tools to improve the quality, sustainability and taste of the potatoes PepsiCo raises.

“Harvest season has always been my absolute favorite time of year,” Josh Parsons says. He arrives before sunrise to walk through the fields at PepsiCo’s Rhinelander, Wisconsin, farm, filled with suspense about what’s beneath the soil. After a year of waiting, he’ll soon discover if his work is a success.

“The most exhilarating thing about potatoes is they grow underground,” Josh says. “You don’t know what you have until you dig them up.”

Josh, an R&D Sr. Principal Scientist, leads a team that cultivates never-before-seen varieties of potatoes destined to become the future of Lay’s potato chips. The annual harvest in Rhinelander yields bushels of new crops — and valuable information on the best ways to grow them.

There are more than 4,000 recognized potato varieties grown around the world, but fewer than 10 are the caliber for a Lay’s potato chip. Each one of those is proprietary to PepsiCo — carefully selected to maximize crop yield, disease resistance, nutrition content, cooking quality and taste. “But we’re always looking for better,” Josh says.

The techniques for discovering a new variety of potato combine traditional breeding with modern tools like data science and AI to select desirable plant traits. Josh and his team start with sets of “parent” potatoes, analyzing data to determine which would meet Lay’s standards for quality and sustainability. They add pollen from one plant to the flower of another to breed an entirely new seed with attributes from both parent plants — mimicking the same process that happens in nature.

“Each of those seeds is a unique individual, like siblings in a family,” Josh explains. Only instead of one or two offspring, each set of parent plants produce 200 to 400. Multiply that by dozens of cross-pollinations, and Josh’s team plants nearly 20,000 new seeds in Rhinelander each year. But only two or three of those seeds produce a potato variety that ever reaches a Frito-Lay kitchen.

“We’re incredibly selective,” Josh says. “We want to make sure the seeds we provide to growers benefit them, our business and the environment.” Josh and his team are also working to develop potato varieties that contain more flavor and need less seasoning — one way PepsiCo’s R&D and agriculture experts are innovating to support the company’s PepsiCo Positive (pep+) nutrition goals, which include a 15% sodium-reduction target for Lay’s Classic Potato Chips in the United States.

“We want to make sure the seeds we provide to growers benefit them, our business and the environment.”

To better predict future performance, the new potato breeds undergo complex statistical analysis of the seed’s genetics. “We don’t do any genetic modifications,” Josh says. “But we do use genetic information to forecast which crops have a chance to be successful and which don’t.”

Once Josh and his team have identified a successful crop, they send samples of the plant to partner farmers around the world so they can begin growing the new potatoes on their farms. The first variety Josh developed for PepsiCo was grown earlier this year and was recently cooked into a full batch of Lay’s — two key milestones in a development process that takes nine years to complete.

“I’m biased, but it was the best potato chip I ever tasted,” Josh says. There are still more hurdles the variety must clear before making it to store shelves but knowing that seedlings he bred could soon end up in Lay’s bags around the world instills a deep sense of pride.

“This job gives us a chance to leave a mark on an iconic brand,” Josh says. He keeps that thought at the forefront of his mind every day he goes to work. “Our team is small,” Josh explains. “But the work we do reaches farmers, kitchens, stores and consumers all over the world. It’s crucial that we act as owners, continuously seek ways we can improve and make sure the results of our efforts are felt far beyond the fields in Rhinelander.”

NEW YORK, May 23, 2024 /3BL/ – This week, Chief Executives for Corporate Purpose© (CECP) is bringing together nearly 300 senior social impact, corporate responsibility, and sustainability from the world’s leading global companies for the 21st annual CECP Summit: Purpose + Persistence.

The CECP Summit will feature leaders engaging and learning together about powerful insights on trends, partnerships, and finding the return on corporate purpose. The variety of session topics reflect the many complex issues companies are currently facing as responsible purpose-driven businesses including: using data to guide social impact programs, community investments in sustainability, best practices and predictions in DEI, measuring social investments, the future of volunteering, communicating sustainability, and more.

“The leaders assembling at this week’s CECP Summit serve as bridges within their organizations and in their communities, connecting a company’s corporate purpose with business success to increase customer loyalty, build employee engagement, improve brand trust, attract top talent, and connect with strategic investors and other stakeholders,” said Kari Niedfeldt-Thomas, Managing Director and Chief Operating Officer, CECP. “CECP and its network empowers these leaders to both enhance the business’ bottom line, and also create positive impacts as responsible businesses in society.”

The Summit includes the presentation of the Charles H. Moore Award for Leadership in Corporate Community Engagement. The 2024 “Charlie Award” was awarded to Sandy Nessing, Vice President and Chief Sustainability Officer, American Electric Power. The award is named in honor of CECP’s founding Executive Director and is presented to senior leaders who exemplify perseverance in the pursuit of societal advancement, the trait for which Charlie Moore was best known.

“I’m truly honored to be receiving the Charles H. Moore Award, as Charlie demonstrated the power of the positive social impact that industry can have on society,” said Sandy Nessing, Vice President and Chief Sustainability Officer, American Electric Power (AEP). “CECP has been a valuable partner as AEP transforms to meet the changing needs of our stakeholders.”

With nearly three decades of communications and sustainability experience in the utility industry, Sandy Nessing leads AEP’s ESG/Sustainability strategy and disclosure, stakeholder engagement, and strategic initiatives. This includes overseeing corporate initiatives on climate change, environmental and social justice, and Just Transition; and regularly engaging with investors and customers on AEP’s sustainability efforts and energy transition strategy. Sandy chairs AEP’s Corporate ESG Steering Committee and Climate Change Executive Group. She is also a member of Datamaran’s Board of Directors and serves on the Board of the Midwest Renewable Energy Tracking System. In 2023, she was named to Sustainability Magazine’s Top 100 Women in Sustainability, recognizing her positive influence within this space.

CECP will also share with attendees’ the first look at data from the 2024 Giving in NumbersTM Survey. Giving in Numbers is the unrivaled leader in benchmarking on corporate social investments, in partnership with companies. As the premier industry survey and research, Giving in Numbers provides standard-setting criteria in a go-to guide that has defined the field and advanced the movement. CECP tracks trends in the industry through the data, shared by more than 600 multi-billion-dollar companies, representing more than $439 billion in total community investments. See the new 2024 infographic.

The CECP Summit offers an unparalleled line up of speakers including:

Anthony Daniels, Jr., Minority Leader, Alabama House of RepresentativesCarly Keller, Manager, Leadership Activation and Nonprofit Capacity Building, The Allstate Foundation Sandy Nessing, Vice President & Chief Sustainability Officer, American Electric PowerConnie Montana, Philanthropic Giving Program Manager, Bank of America Andrea Avtjoglou, Director of Data Product Management, Corporate Impact, BlackbaudJaha Cummings, Founder, Blanchard House Institute Jason Cone, President & Co-Founder, BlueCheck Ukraine Murphy Poindexter, Co-Founder, BlueCheck Charitable FoundationLiev Schreiber, Co-Founder and Board member, BlueCheck Ukraine Livia Konkel, CVP, Diversity, Equity, Inclusion and Corporate Citizenship, Charles River Laboratories Charu Adesnik, Executive Director, Cisco Foundation Director, Social Impact Office, Cisco Systems, Inc. Shannon McNary, Manager, Public Affairs and Corporate Citizenship, CITGO Petroleum Corporation Collette Divitto, CEO/ Founder, Collettey’s Cookie Corp & Collettey’s Leadership Org Gwyneth Gaul, Vice President Strategic Partnerships and Philanthropy, Comcast NBCUniversal Cari Williams, Global Social Responsibility Leader, DPR ConstructionTonia Ries, Executive Director, Trust Barometer, Edelman Christine Jordan, Senior Lead Program Specialist, Corporate Social Responsibility, Entergy Corporation Rev. Luis Cortés, Founder / CEO, Esperanza Kim Rice, Community Engagement Manager, Exelon Justin Joyner, Sustainability Lead, Freshpet Victoria Glazar, Managing Director, GE HealthCare Foundation Heidi Magyar, Executive Director of Corporate Giving, General MotorsLori Lampman, Chief Human Resources Officer, HARMAN InternationalJames D. White, Board Chair, The Honest Company Justina Nixon-Saintil, Chief Impact Officer, IBM Molly Kohrs, Director, Data Citizens with Purpose, KPMG Joe Scantlebury, President and CEO, Living Cities Pritha Mittal, Regional Head of Foundation for the Americas, Macquarie Group FoundationAlex Amouyel, President and CEO, Newman’s Own Foundation Shelly Lazarus, Chairman Emeritus, Ogilvy Megan Lee, CEO/Chairwoman, Panasonic North AmericaTyler Spalding, Senior Director, Corporate Affairs & Global Head of Social Innovation, PayPalCaitlyn Brazill, Chief Revenue Officer, Per ScholasHeather Meloy, Director, PwC Lyndsay Harris-Kyei, Senior Director, ESG Social Strategy, ServiceNow Kim Dabbs, Global VP, ESG + Social Innovation, Steelcase Jackie Albano, ESG, Tapestry Balaji Ganapathy, Chief Social Responsibility Officer, Tata Consultancy Services Lynette Bell, President, Truist FoundationMarion Phillips, III, Sr. VP Community Development & DEI, U.S. News & World Report Gayatri Agnew, Senior Director and Head of Accessibility Center of Excellence, Walmart Aldustus Jordan, Head of Community Stewardship, Vanguard Jil Littlejohn Bostick, Vice President, Corporate Responsibility & Inclusion, Winnebago Industries Monica Moradkhan, VP Community Relations, Wynn Resorts, LimitedBrian Sozzi, Executive Editor, Yahoo Finance 

CECP thanks its sponsors for their generous support of 25th anniversary year: Visa Foundation, Bank of America, Exelon, Panasonic, RHR International, StateFarm, Tata Consultancy Services, Vanguard, and Wynn Resorts.

“25 years ago, Paul Newman and I undertook a program of encouraging public corporations to be more of a force for good, embracing a program that Lawrence A. Wien had personally pursued for 5 years in which he attended about 100 shareholder meetings as a shareholder to urge the corporations to increase their philanthropic giving,” said Peter Malkin, Chairman Emeritus, Empire State Realty Trust and Co-Founder, CECP. “Today, over 200 CEOs of such corporations are paying members of Chief Executives for Corporate Purpose and their annual support of programs for “good” is more than $47 billion. CECP has come a long way!”

CECP also congratulates the 2023-2024 Company Spotlight honorees: Discovery Education, IBM Corporation, Lincoln Financial Group, MGM Resorts, 3M, Coupa, Tapestry, PricewaterhouseCoopers LLP, Guardian Life Insurance Company of America, Starbucks, Adobe, Bristol Meyers Squibb Foundation, and Metlife Foundation. On a quarterly basis, CECP selects companies for the sought-after Company Spotlight through a thoughtful information-sharing and communications-support process. Company Spotlights are shared with CECP’s nearly 2,000 affiliated corporate contacts, posted on the CECP website as case studies, and recognized at the CECP Summit.

Following the conclusion of the 2024 CECP Summit, CECP will be posting on its website photos, videos, guest blogs, and an Executive Summary.

The application process for the 2025 Charlie Award is open. Nominate a peer senior leader in corporate responsibility today. The deadline is August 30. The application can be accessed on the CECP homepage or by emailing CECP.

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About Chief Executives for Corporate Purpose (CECP) 
Chief Executives for Corporate Purpose® (CECP) is the only business counsel and network dedicated to driving measurable returns on purpose. We promote responsible purpose-driven business as it increases customer loyalty, builds employee engagement, improves brand trust, attracts top talent, connects with strategic investors, and contributes to the bottom line.

More than 200 of the world’s leading companies seek to improve their return on purpose through access to CECP’s solutions in research and insights, strategy and benchmarking, and convening and communications. With our companies, we harness the power of purpose for business, stakeholders, and society.

For more information, visit http://cecp.co.

CECP Media Contact

Katie Leasor

kleasor@cecp.co

PITTSBURGH, PA, May 23, 2024 /3BL/ – Wesco International (NYSE: WCC), a leading provider of business-to-business distribution, logistics services, and supply chain solutions, today announced a scholarship program as part of Wesco Cares, its corporate philanthropy program, to support the next generation of tradespeople. In partnership with Independent Electrical Contractors (IEC) as well as ELECTRI International, an electrical construction foundation established by the National Electrical Contractors Association (NECA), the $200,000 scholarship will be awarded to students entering skilled trades in the U.S. electrical industry.

The new scholarship program underscores Wesco’s commitment to the electrical industry and the hard-working individuals who power progress in our world. There has never been a more crucial time to support and encourage the next generation of skilled laborers as demand for large, complex electrification projects to support sustainability goals continues to increase, amplifying the need for essential skilled laborers.

As the largest electrical distributor in North America, Wesco understands the critical role of tradespeople in powering our world and moving the electrical industry forward. Similarly, IEC and ELECTRI are tireless advocates of the electrical industry and are both committed to supporting the next generation of contractors. By helping to reduce the financial costs associated with trade school and apprenticeship expenses, the scholarship program encourages interest in the trades and contributes to an increase in skilled labor. “The IEC Scholarship will allow me to focus on my studies and career, keeping workers safe by understanding electrical concepts and practical applications. I am so very grateful to have received this scholarship and will continue to work diligently to be successful in my training as an apprentice,” said Jennifer Calloway, IEC Scholarship recipient.

To learn more about how you can apply for the Wesco Cares scholarship program, visit here.

“At Wesco, we believe people are our greatest asset, and the hard-working individuals who power progress are the heart of our industry,” said John Engel, Chairman, President and Chief Executive Officer. “We recognize the significant impact skilled trade labor shortages are having on our contractor customers and their ability to execute construction projects on time and on budget. In support of our commitment to the electrical industry, we are very pleased to present these two scholarship funds to IEC as well as ELECTRI to strengthen the talent pipeline and increase the labor pool for contractors.”

“ELECTRI International is extremely grateful for Wesco’s dedication to the electrical construction industry and its many contributions to promote prosperity in the trade, especially this scholarship,” said ELECTRI Director of Future Workforce Development Anna Jochim. “This scholarship will ensure the success of NECA-ELECTRI’s new Project Management Apprenticeship Program which is expected to create a much-needed talent pipeline for NECA contractors.”

About Wesco

Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with more than $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry’s premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.

Media Contact

Jennifer Sniderman 
Vice President, Corporate Communications 
717.579.6603

Mastercard

In 1975, Kevin Kim’s mom and dad picked up their lives and brought their two kids from South Korea to New York, moving into a one-bedroom, one-bathroom apartment in Sunnyside, Queens.

Kim, who is commissioner of New York City’s Department of Small Business Services, was 5 at the time, his sister was 9, and their parents were working 14- to 16-hour days, seven days a week, trying to build up their artificial flowers business. Kim’s maternal grandmother moved in to help out.

Mom would create the flower designs and dad would head over to the garment district, knocking on wholesalers’ doors to sell those designs. After seven years of doing that, the family finally made it out of that tiny apartment.

His parents’ struggle to make it — especially because they spoke limited English and “had no clue about any government resources,” he said — informed a lot about how Kim has engaged immigrant small business communities in New York City. There are over 200,000 small businesses across the city, and about half of them are owned by immigrants.

Kim’s own experience as an entrepreneur, even after living in New York City most of his life, was similar — he also didn’t know what government resources he could access.

“When I came into this role, the first thing that was so glaring was that — wow, this agency New York City Small Business Services has so many incredible programs already,” he said in a recent interview. “And yet, if people don’t know about it, it’s all for naught.”

He set out to make sure people just like his parents would know about SBS, which provides a long list of resources for small businesses, including funding, commercial lease assistance and government contracting opportunities.

He spoke to the Mastercard Newsroom about his work at SBS and the sentiment he’s hearing in the streets from small businesses today. Kim also talked about the creation of the city’s $85 million NYC Small Business Opportunity Fund — the biggest public-private loan program for small businesses in the city’s history – which was created in partnership with Mastercard and Goldman Sachs. He also made sure to plug the upcoming SBS Small Business Month Expo on May 29, which will bring a variety of small business resources under one roof.

After being appointed to the position more than two years ago, Kim this month announced plans to step down at the end of June.

The following Q&A was edited for length and clarity.

You mentioned how much you wanted to focus on outreach at SBS. So how did you manage to get the word out?

Kim: I came in and we ended up reorganizing our agency to create the first-ever outreach team, and we put a team of about 10 people in there. We also put the existing RV unit, which we affectionately call Mobie, into action — that allowed it to go around the city multiple times a week.

I realized that our social media was lagging and, in this day and age, without robust social media activity, you’re not going to get the audiences that you’re aiming to get. The way we disseminated the programming information out to this 8.5 million-person city of 700 different languages being spoken every day became my focus.

We are clearly seeing the engagement with our agency just skyrocket. It was an intentional effort to make sure people knew that if they needed us, we were there and they knew how to get to us.

And that was all part of this grand strategy to make sure that people knew about all of our services, in language and in historically underserved communities, and that they wouldn’t have to wait seven years like my parents to have a successful small business — that maybe they could cut that time in half.

What are you hearing from small businesses today — is there more optimism since the pandemic?

Kim: One of the best parts of this job is that I do get to go around to all the commercial quarters in every borough in so many neighborhoods. I ran into this small business owner, a Haitian bakery in Queens who opened during the pandemic. The fact that they were doing really well by the time I visited tells you something, right? The history, the resiliency, the hope of New Yorkers coming here with very little and starting a small business and not just helping their own family, but I know that particular business was giving back to the Haitian American community. And so it’s that cycle, living the American dream right here in New York City that still exists. That just really reminded me of my own personal story.

“It’s not just them living their dream, but they’re really impacting the community by hiring New Yorkers as well. So it feels like everybody’s chipping in, the mood out in the streets is much more vibrant.”

Kevin Kim

It’s not just them living their dream, but they’re really impacting the community by hiring New Yorkers as well. So it feels like everybody’s chipping in, the mood out in the streets is much more vibrant. I’m not trying to brush over some of the challenges that are still out there. Of course, retail theft is still out there.

The optimism, I feel it. I think the types of programs and investments the Adams administration has made, that’s made a huge impact when you invest in the commercial corridors.

Tell me about the city’s Opportunity Fund.

Kim: We were able to have such great private partners in Goldman Sachs and the Mastercard Center for Inclusive Growth. The design of the program was so collaborative, having discussions about not just how much money is going to go out there, but what’s the biggest impact we can have.

When you come out with a loan program by a government entity, you sometimes look for the easiest way to implement it and that could have been just picking the three or four largest CDFIs [community development financial institutions, which provide financial services to low-income communities] and then just working through them and calling it a day. What was extremely impactful here was that Mastercard, Goldman Sachs, SBS — we all had that second layer of intentionality saying, if we’re going to do this, and maybe it takes a little bit longer to design it and to roll it out fully, let’s make sure we focus on capacity building for some of our smaller CDFIs.

And that’s what we did. And that second prong to this, I think, really impacted the results we got and who got the money, because the smaller CDFIs were really rooted in historically underserved communities. So after one year of the implementation of this program, we ended up with 1,046 businesses getting an average of $80,000.

You could just see the demand that was out there, because in the first couple of weeks, we had over 10,000 businesses express interest.

The results again mirrored so much of that outreach, with 80% MWBEs [minority and women-owned business enterprises] receiving the money. We had 69% who are self-identified as BIPOC [black, indigenous, and other people of color]. We had 59% of recipients being located in low- and moderate-income communities.

Because of the success, we’re already trying to think about what a 2.0 version would look like.

What’s a success story from the Opportunity Fund?

Kim: We had chef Jae Lee, from a restaurant called Nowon. It is a Korean American bar and restaurant in the East Village. They became very well known on Instagram and social media for their kimchi burgers. I’ve tried it. It’s very good.

They were trying to expand to a second location in Bushwick, Brooklyn, and the traditional bank said, “Sorry, you’re not eligible.” Chef Lee applied for this Opportunity Fund, got $250,000, subsequently was able to open in Bushwick — a larger space, and now he employs over 50 New Yorkers.

So what this story really highlights is that when you get the right business that gets the right capital access, again, it’s not just about that business. It’s about the impact of hiring those 50 New Yorkers. It’s about that new, bigger location. It’s about providing an experience to people in that community. And so that kind of economic impact is something that needs to be fully appreciated. So that was one of our great success stories.

Especially thinking about your parents’ story, how does that make you feel that you were an important part in making success stories like Nowon’s happen?

Personally, I feel as if this is one of the most rewarding experiences I’ve had, having the privilege of being commissioner of SBS. But I want to make it so clear that it was really the years-long effort of my capital access team and other leaders here at SBS who finally made this happen.

Originally published by Mastercard

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

This story was first posted on Hiring Our Heroes. Reposted with permission from Hiring Our Heroes, an initiative of the U.S. Chamber of Commerce Foundation.

Representing “the best of the best,” Hiring Our Heroes announced five grant recipients for the Small Business Grant Program, an initiative providing a one-time $10,000 grant for selected military-connected entrepreneurs, during a virtual event on April 17.

“We are honored to support these veteran- and military spouse-owned businesses with a grant thanks to the generous support from the FedEx Founder’s Fund, part of the Community Foundation of Greater Memphis,” said Hiring Our Heroes President Eric Eversole. “Collectively, the stories and successes of these five small business owners highlight the skill sets veterans and military spouses learn through military service. Skills like leadership and resiliency are just a few of the many qualities they bring to the business community and have led to their success among aspiring entrepreneurs.”

More than 350 small businesses applied for this grant program. Out of the hundreds of applications, a committee selected only five winners based on their business acumen as well as two key characteristics – a dedication to overcoming economic hardships and a commitment to giving back to their communities.

“These grant recipients are committed to doing good in their communities,” Eversole said.

Planning Is Essential for Aspiring Entrepreneurs

During the award presentation, Eversole hosted a conversation with FedEx Founder and Executive Chairman Frederick W. Smith.

Smith served four years in the U.S. Marine Corps, which included two tours of duty in Vietnam. His valor and dedication shone brightly during this time in the Marine Corps, where he served as a rifle platoon leader, a company commander and aerial observer/tactical air controller. A few years after completing his military service, he launched the original air-ground Federal Express network to serve the rapidly growing high-tech, high-value-added sectors of the economy.

Smith told Eversole the Marine Corps provided invaluable instruction which shaped both his leadership and management style.

“I found the leadership training invaluable during my service in the Marine Corps, particularly in Vietnam, and the fundamental management in an administrative part of the Marine Corps has been extremely valuable to me in my business career,” he said.

Along with leadership, Smith learned the importance of preparation and planning from the Marine Corps as well. “That’s the part of entrepreneurship that a lot of people ignore at their peril,” he said. “While great planning is important in the military, It’s absolutely essential for an aspiring entrepreneur.”

5 Small Business Grant Recipients

From a Midwest landscaping company to a California-based endurance sports event organizer, the winning small businesses represent the diversity of the military community. It is our honor to introduce you to the five grant recipients.

Bailey’s Child Development and Learning Center – San Antonio, Texas

Owned and operated by a dual-military couple, Bailey’s Child Development and Learning Center opened its doors in 2013 and aims to provide quality, reliable child care to local active-duty military families. The center prepares children to excel in kindergarten and provides homework assistance for school-aged children. Bailey’s has helped its community by providing jobs and training to local high school students. It also facilitated the distribution of free diapers and tuition assistance to families in need.

Easy Day Sports – Coronado, California

This U.S. Navy veteran took a leap of faith when he opened Easy Day Sports. Since then, the company has promoted fitness and community while helping organizations of all sizes host endurance sports events from coast to coast. During the COVID-19 pandemic, Easy Day quickly pivoted to virtual options, and the owner “spent every dollar to keep his team employed.” This year Easy Day Sports will host its annual half marathon benefiting the nonprofit Make-A-Wish foundation, which creates life-changing experiences for children with critical illnesses. They will also host a paddling event to raise money for the families of recently fallen Navy SEALs.

The Right Amount, LLC, doing business as TRA Construction – Baltimore, Maryland

Since 2019, TRA Construction has worked to make affordable homeownership a reality for Baltimore residents in neighborhoods that span the full spectrum of socioeconomic status. Seven months after its initial launch, TRA Construction faced product unavailability and inflated prices, putting projects over budget and behind schedule. Yet, the business continued to grow through careful management. The company hires most of its entry-level employees through YouthBuild, a subsidiary of the Civic Works’ Center for Sustainable Careers. This training program serves young adults who left formal education before graduating high school.

White Knight Labs – Guys Mills, Pennsylvania

White Knight Labs (WKL) is a boutique cybersecurity consultancy specializing in red teaming, web application/cloud penetration testing, and evaluating the security of embedded medical devices. Founded in 2016, the owners of this small start-up admit “staying liquid enough to pay our employees has been an issue,” and they dipped into their personal bank accounts to keep the doors open. WKL is passionate about teaching the next generation of cyber operators and participates in local cybersecurity conferences.

Your Personal Gardener & Arborist – East Troy, Wisconsin

What started as a part-time gig to fill the void between deployments has grown into a full-service landscaping and snow removal company for the owners of Your Personal Gardener & Arborist. In its 13 years of business, the company has overcome many obstacles, including finding qualified employees, rising operation costs, and lengthy wait times for materials during the global pandemic. The company gives back to its community through its “Tree Day of Service,” where Your Personal Gardener provides a free full day of tree care for one deserving veteran. They also mow lawns and remove snow for military families during deployments.

The Best of the Best

The Honorable Patrick Murphy, who served as the 32nd Under Secretary of the U.S. Army and is currently a Hiring Our Heroes Ambassador and Wharton Business School faculty member, served on the award selection committee. During Wednesday’s virtual event, Murphy acknowledged the challenges today’s veterans face when opening a small business.

“Less than 15% of post-9/11 veterans start a small business, and we know 20% of new businesses fail during the first two years of being open,” Murphy said. “Picking the top five winners was not easy. You were the best of the best, and you are all destined for success.”

In conclusion, Smith congratulated the grant recipients on their early success. “I wish you every success in business and hope you have a lot of fun doing it,” Smith said.

Visit FedExCares.com for feature stories about the 2024 Hiring Our Heroes Small Business Grant Program winners in the coming weeks.

As Lenovo 360 Circle expands its community reach to channel partners around the world, participating members share their perspectives on emerging sustainability priorities, critical focus in ESG strategies for the year ahead, and how a collaborative community helps drive success.

For all the increased focus that companies have given to Environmental, Social, and Governance strategies in recent years, implementing a successful strategy around sustainable business practices still remains an elusive goal for many.

The lack of standardization in ESG data and key focus areas like circular economy and emissions reduction means that companies are often using different data sets, aiming for different goals, and navigating a diversity of regulations and policies with inconsistent outcomes and varying levels of effectiveness.

To put it simply – designing, adopting, and implementing a sustainability strategy for your business is a massive undertaking, and many companies often don’t know where, or how, to get started.

Lenovo is helping its global community of channel partners in their own sustainability journeys through the recent launch of its Lenovo 360 Circle community. A sustainability-focused community approach to ESG initiatives, Lenovo 360 Circle helps partners to align on common goals, best practices, and sustainability strategies to offer a collective approach to success as a group, rather than leaving each business to its own journey in isolation.

Since Lenovo 360 Circle opened to global channel partners in 2023, membership has surpassed 2,000 members across 43 countries worldwide, with participating partners ranging from ‘advanced’ with established success to beginners who are looking for inspiration and direction on where to begin their sustainability journey.

Virginie Le Barbu, Lenovo 360 Circle program leader and global sustainability director for international markets at Lenovo, says partners that have joined the community have found clarity and a sense of true direction amid the complex sustainability environment for businesses.

“Sustainability strategies are more effective and achievable when you have multiple parties aiming for the same ‘north star’”, she said. “Lenovo 360 Circle provides a clearer path for partners on what matters, what’s most effective, and provides a sounding board and sense of support because you’re surrounded by peers who are all speaking the same language.”

Partners agree.

“We’re all a part of each other’s ecosystem,” said Suzette Carty, head of global ESG for CDW. “Even though there’s competition, we all know that we need to make a difference not only for our companies, but for the world in general, and I think those two priorities lend themselves to us to being more open to working with each other. The common goal of making sure there’s a world for us – balancing the priorities for now and later – all of us are of this mindset and recognize that we’ve got to do it together.”

“Our participation in Lenovo’s 360 Circle has helped prioritize our ESG initiatives,” said Brian Hicks, senior vice president of product management and operations at Connection. “There are other participating partners that are well down the (sustainability) path, and it’s really helped accelerate our learning so that we can focus on the key actions we need to take. It’s been hugely valuable for us.”

Sustainability priorities are frequently shifting and evolving as the global environment changes over time. As many businesses have established target goals for sustainability initiatives for 2030, 2040, and beyond, Lenovo 360 Circle partners gather regularly in forums throughout the year to raise questions about emerging topics and give perspective on their own business challenges.

Among the top concerns in 2024: circular economy, reducing scope 3 emissions, continued standardization, and an increased focus on social responsibility.”

“As we get closer to the decade of 2030 to 2040 – we’re only 6 years from that 2030 date – we have to make sure that we have things like circular economy in place,” said John Gladstone, sustainability lead for Softcat plc. “I think the call-to-action has already been received from Lenovo, where we look at their asset recovery services work and the work they’re doing around circular economy and refurbished devices and really embracing it. I think 2024 will continue to see that advancement in circular economy and asset recovery services, and the education we see across the channel that it requires for our customers as well.”

“When I think about data, I think about the importance of us really coming together to drive standardization, share how we’re tracking that data, really get on the same page with that across our value chain, I think that’s really critical,” said Adam Rutstein, senior director for corporate citizenship and sustainability at TD SYNNEX. “The regulatory environment is evolving fast and furiously around the world. There’s lots of different requirements out there and I think part of the value of this group also is being able to come together so we can share how each of us are approaching that.”

“What I’m wracking my brain about is human rights,” said Beate Flamm, executive vice president of sustainable change at ALSO. “How can we actually prove that we follow up on human rights along the supply chain, more than just kind of passing the bucket (to suppliers) and saying ‘Can you confirm?’. Legal requirements, like the obligation to report on conflict minerals, that we all know are, up to a certain degree, in products. How can we find a way to manage that? I’m really talking about very, very concrete ways to solve very concrete requirements and problems, and this is where I’d love to focus on in this coming year.”

In the year ahead, Lenovo 360 Circle looks to continue the momentum by welcoming new members to add to the collective expertise of the community.

“Our next steps are very much focused on prioritizing and cultivating strategic partnerships to magnify our impact,” said Le Barbu. “As we move forward, we’ll be looking into topics of upskilling and reskilling individuals within our community, exploring how to better integrate sustainability into our go-to-market sales motions, and more, and we look forward to fostering that spirit of curiosity and creativity in addressing new opportunities, together with our partners.”

Partners can learn more about Lenovo 360 Circle and begin their journey by visiting the Lenovo Partner Hub.

PITTSBURGH, May 23, 2024 /3BL/ – PNC Bank has expanded its national Community Advisory Council (CAC) with the addition of nine community development executives representing seven states from across the company’s footprint. The newly appointed members join 11 current PNC CAC representatives who bring a broad range of expertise in community investment lending and services, small business development and economic development.

Formed in 2022 to provide ongoing guidance in support of PNC’s four-year, $88 billion Community Benefits Plan, the newly expanded group of nonprofit, community and business leaders gathers twice a year to advise the bank on critical issues impacting society and to help inform PNC’s community lending, investment and service priorities.

“Community Advisory Council members have been instrumental in the successful implementation of the Bank’s Community Benefit Plan, which has deployed nearly $56 billion in investments and loans to support communities nationwide since launching in 2022,” said Richard Bynum, PNC chief corporate responsibility officer. “The council’s newest advisory members give us an even greater opportunity to engage with the communities we serve and strengthen our impact in affordable housing and other areas of critical need.”

Members of the 2024 PNC Community Advisory Council are:

Barbara Busch, Working In Neighborhoods (WIN), Cincinnati, OHBob Dickerson, Birmingham Business Resource Center, Birmingham, ALBobby Calvillo*, Affordable Homes of South Texas, Inc. McAllen, TXCarl Manning*, Kingdom Community Development, Fayetteville, NCChristie McCravy*, Louisville Metro Affordable Housing Trust Fund, Louisville, KYDarel Ross, Start Garden, Grand Rapids, MIDena Mottola Jaborska*, New Jersey Citizens Action, Newark, NJErnie Hogan, Pittsburgh Community Reinvestment Group, Pittsburgh, PAGustavo Lasala, PeopleFund, Austin, TXHarold Pettigrew*, Opportunity Finance Network, Washington, DCIgnacio Esteban*, Florida Community Loan Fund, Orlando, FLJesse Van Tol, National Community Reinvestment Coalition (NCRC), Washington, DCJoseph B. Anderson, TAG Holdings, LLC, Wixom, MILuis Granados, Mission Economic Development Agency (MEDA), San Francisco, CAMarla Bilonick, National Association for Latino Community Asset Builders, Washington, DCMatt Hull, Texas Association of Community Development Corporations, Austin, TXRudy Espinoza*, Inclusive Action, Los Angeles, CASeema Agnani, National Coalition for Asian Pacific American Community Development, Washington, DCWatchen Bruce*, Baltimore Community Lending, Baltimore, MDWill González*, CEIBA, Philadelphia, PA

*Newly appointed

Launched in 2022 and scheduled for completion in 2025, PNC’s Community Benefits Plan will provide $88 billion in loans and investments and other financial support to bolster economic opportunity for low- and moderate-income individuals, communities and people of color. For more information about PNC’s Community Benefit Plan please see the most recent impact report at pnc.com.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com. 

CONTACT: 
Asia Rambo 
(404) 495-6386 
asia.rambo@pnc.com

DALLAS, May 23, 2024 /3BL/ – Mary Kay Inc., a corporate cheerleader in support of STEM education and youth pursuing their dreams, recently awarded three standout high school scientists, selected from more than 1,600 participants, with grants at the Regeneron International Science & Engineering Fair (ISEF) in Los Angeles. The grants—totaling nearly $10,000—were awarded to students with innovative projects focused on finding cures for cancers affecting women, sustainable packaging innovation, and protecting our planet’s most valuable resources.

ISEF, a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional, and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately $9 million in awards and scholarships.

“These future STEM leaders demonstrated innovative research, creative solutions, and novel approaches to complex problems that will directly impact cures for cancer, sustainable business practices, and redefine industry norms,” said Kristin Dasaro, Director, Package Engineering and Sustainability at Mary Kay. “We have so much to learn from this next generation and Mary Kay is honored to support them in their STEM journeys.”

MEET THE STUDENT SCIENTISTS

First Prize: Keshvee Sekhda and Nyambura Sallinen (Georgia, USA) 
IdentiCan: The App That Detects Brain, Breast, Lung, Skin, and Pancreatic Cancer 
App utilizing AI technology to identify cancerous tumors with 99.6% accuracy.

Second Prize: Madalena Filipe and Frederico Mauritty (Lisboa, Portugal) 
HidroQapa: Waterproof Bioplastic Made From Chitosan Extracted From Shrimp Shell Waste 
Creating sustainable, biodegradable materials from crustacean shells, helping to reduce waste and environmental pollution.

Third Prize: Carolina de Araujo Pereira da Silva (Rio de Janeiro, Brazil) 
Rock the Metals! Investigating Manganese as a Trigger of Malignancy and Metal Transporters as Targets in Cancer Treatment 
Researching how metals and their transporters affect cancer cell behavior for novel therapeutic cancer treatments.

About Mary Kay 
Then. Now. Always. One of the original glass ceiling breakers, Mary Kay Ash founded her dream beauty brand in Texas in 1963 with one goal: to enrich women’s lives. That dream has blossomed into a global company with millions of independent sales force members in more than 35 countries. For 60 years, the Mary Kay opportunity has empowered women to define their own futures through education, mentorship, advocacy, and innovation. Mary Kay is dedicated to investing in the science behind beauty and manufacturing cutting-edge skincare, color cosmetics, nutritional supplements, and fragrances. Mary Kay believes in preserving our planet for future generations, protecting women impacted by cancer and domestic abuse, and encouraging youth to follow their dreams. Learn more at marykayglobal.com, find us on Facebook, Instagram, and LinkedIn, or follow us on Twitter.

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Mary Kay Inc. Corporate Communications 
marykay.com/newsroom 
972.687.5332 or media@mkcorp.com

A deadly storm passed through the Greater Houston area on May 16, 2024, leaving behind a trail of damage. Many Houstonians woke up to scenes of destruction after the storm swept through with winds of up to 100 mph, causing mass power outages and widespread destruction. To assist with critical food and water distribution as the area recovers, the Baker Hughes Foundation has issued a $75,000 grant to the Houston Food Bank. Baker Hughes and its employees have been long-standing partners of the Houston Food Bank, recently recognized with a third Gold President’s Volunteer Service Award, and are proud to assist in efforts across their 18-county service area as part of the company’s commitment to support the communities where employees live and work.