Tag: 3BL

Mastercard

We are incredibly proud that the Mastercard Center for Inclusive Growth has been named to Fast Company’s Most Innovative Companies of 2024 in the Corporate Social Responsibility category. We are grateful to everyone at Mastercard who has brought our “Doing Well by Doing Good” philosophy to life. This award is a testament to our company-wide commitment to driving equitable and sustainable economic growth and champion financial inclusion and health.

https://www.fastcompany.com/91038447/mastercard-center-inclusive-growth-most-innovative-companies-2024

About the Mastercard Center for Inclusive Growth

The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages Mastercard’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs and empower a community of thinkers, leaders and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn and subscribe to its newsletter.

Originally published by Mastercard

Follow along the Mastercard Center for Inclusive Growth’s journey to advance equitable and sustainable economic growth and financial inclusion around the world

CBRE

CBRE has announced its new headquarters in Glasgow has achieved one of the UK’s highest sustainability ratings.

The global real estate advisor’s offices at 177 Bothwell Street have been awarded a coveted BREEAM ‘Excellent’ rating from the Building Research Establishment (BRE), placing it in the top 10% of fit-out projects in the UK.

CBRE relocated more than 400 employees to the landmark development in January last year as part of a consolidation plan to merge three offices into one and enhance collaboration. The agency occupies the building’s ground floor extending to 18,000 sq ft.

177 Bothwell Street’s existing green credentials were a key factor in CBRE selecting it for its West of Scotland hub. It utilises 100% green power from a local source, supporting the advisor’s commitments to reduce carbon emissions. The building also features impressive wellness amenities such as a rooftop running track, seating areas and spa-quality changing facilities.

This fantastic excellent rating was achieved thanks to the collaboration of an in-house CBRE team which included Designers, MEP, Project Management and BREEAM Assessors. Unusually, no comments or suggested actions for improvement were raised by BRE on the BREEAM documentation, which is a real testament to the hard work our team put into this. It is important that we are able to demonstrate to our clients that a commitment to reducing the impact office buildings have on the environment should always be at the core of any real estate decision-making process.

David Smith, Managing Director Scotland

The BREEAM excellent rating for 177 Bothwell Street falls within CBRE’s ESG commitments, with over half the buildings occupied in the UK now holding a green certification.

The achievement of the BREEAM standard for 177 Bothwell Street is another major milestone towards CBRE’s ESG commitments, and it demonstrates best practice since this office is only one of seven projects achieving BREEAM Excellent in Scotland. The smooth achievement of the certification for this project is testament to the amazing team who participated in the process and the accuracy of the evidence provided.

Giulia Mori, Health and Wellbeing Lead, ESG Consultancy, CBRE UK

BREEAM is the most widely used sustainability certification in the UK. Its requirements measure the environmental performance of a building under construction or undergoing refurbishment by assessing factors such as materials, waste, energy and water.

Originally published on about.bnef.com

For all the headlines about automakers dialing back their plans for electric vehicles, there have been some pockets of surprisingly positive news on EV adoption the last few months.

On the passenger vehicle side, BNEF estimates that EVs reached 20% of global vehicle sales in the final quarter of last year. China and Europe are way out ahead, but it was a record quarter in other markets, as well.

The electric commercial vehicle market is followed less closely, but also saw record sales in the final months of 2023. China has been pushing on this front for several years, and it looks like those efforts are now paying off.

Over 5,600 electric or fuel cell medium- and heavy-duty trucks were sold in China in the final month of the year. That was a remarkable 10% of the total, and pulled the tally for all types of commercial EV sales in China to over 330,000 for the year. Light commercial EVs in China took 16% of the market in December.

Those may seem like modest numbers, but heavy trucks were supposed to be one of the hardest segments to electrify, and many groups expected them to keep oil demand in the country growing for years to come. Hitting 10% of the market is meaningful, and puts them just a few years behind passenger cars.

There’s now a growing list of areas where industry commentators thought electrification would struggle to make inroads, from buses to ferries. Reaching this level of sales in the world’s largest auto market, even if just for a month, means it’s probably time to add heavy trucks to that list.

There are two other interesting storylines in China’s heavy-truck data. The first is that hydrogen fuel cells are finally making their presence felt, with over 1,000 fuel cell-powered heavy trucks sold in December. That’s the highest tally yet and more than twice that of any previous month. China is providing very generous incentives for truck manufacturers to deploy fuel cell vehicles, and the market is starting to respond.

There are still many challenges for fuel cell trucks, and sales probably won’t will continue at this rate once subsidies expire. But it’s good to see a technology that has promised so much over the years finally get some traction. Consumers have shown very little interest in fuel cells on the passenger vehicle side, but the technology could still play a role in some smaller trucking applications.

The second storyline is that battery swapping is also helping electrifying China truck sales. BNEF analyst Siyi Mi recently compiled data on all the battery-swappable vehicles sold in the country and found that while swapping remains a niche technology for passenger vehicles, almost half of all heavy battery electric trucks sold last year in China had swappable batteries. That’s up from 34% in 2021.

Many of these trucks are operating in industrial sites, port warehouses, mines and steelmaking factories. Lighter commercial vehicles with swappable batteries also are being used in urban deliveries, an area where BNEF expects to see more growth as better economics and tightened emission requirements draw more attention to electric models. Long-haul trucking will be the last, and most difficult, segment to tackle.

So far, this remains a China story, helped along by its domestic champions. CATL, the largest battery maker in the world, has supported the swapping model in recent years as a way to ensure batteries find their way into big rigs rather than other competing alternatives.

Activity elsewhere is limited. In Europe, Iveco launched an electric delivery van with three sizes of swappable batteries last year, while Mitsubishi Fuso is trialing a battery-swapping truck in Japan. In the longer term, pure battery-electric will probably win out, since lithium-ion batteries continue to get cheaper and better, and maximum charging speeds are rising fast.

All this points to a big shift that may be coming. China has spent the last few years experimenting with the best way to decarbonize heavy trucks. As it crosses these milestones on adoption, it will start to push harder toward higher levels of deployment. That parallels what happened with electric passenger cars — China experimented with different approaches throughout the 2010s, then made a full-court press in the 2020s. BNEF expects plug-in cars to hit nearly 40% of sales this year in China.

While Western automakers are sounding the alarm on slowing growth for electric car demand, other segments are just getting started.

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.

By Nestor Mato

NEW ORLEANS, March 20, 2024 /3BL/ – The Regions Foundation, a nonprofit funded primarily by Regions Bank, on Thursday announced major grant funding to support small-business growth in New Orleans and Baton Rouge. The grants include:

$100,000 from the Regions Foundation to help fund a collaboration between the Propeller, Thrive NOLA and Fund 17 Together, these nonprofits are dedicated to growing and supporting entrepreneurs in New Orleans while addressing social and environmental disparities. The result is a more level playing field for more businesses to compete, grow, and thrive.$65,000 from the Regions Foundation for the Small Business Mastermind program supporting entrepreneurs in Baton Rouge. This initiative led by the Louisiana Small Business Development Center provides a collaborative space for business owners spanning various industries to convene, share ideas, and develop innovative strategies for overcoming challenges and fostering business growth.

“Small businesses are the economic heartbeat of our communities, and when we invest in their success, we’re investing in a stronger economy and quality of life, benefiting people across the region,” said Marta Self, executive director of the Regions Foundation. “The message to entrepreneurs is there are people and organizations eager to invest in your success. These nonprofits are committed to helping business owners overcome obstacles and turn their vision for a thriving company into reality. We are proud at the Regions Foundation to support their work in creating more inclusive prosperity.”

A Closer Look – Propeller, Thrive NOLA and Fund 17:

This collaborative initiative aims to address the specific needs of BIPOC (Black, Indigenous, and People of Color) small-business owners who have historically faced more limited access to capital needed for business growth. Through technical assistance and support from local lenders, the organizations will help entrepreneurs navigate the hurdles of accessing capital and improve their chances of success.

“We are fostering an innovative New Orleans entrepreneurship ecosystem initiative called the Financial Wellness Collaborative. Since launching, we have collectively served 385 entrepreneurs,” said Andrea Chen, Co-CEO of Propeller. “Together, we have been able to do more than one organization can do alone.”

Working together, we can create a thriving environment where every entrepreneur has the opportunity to flourish.

Chuck Morse, executive director of Thrive New Orleans

“Teamwork makes the dream work. Not only are we working as a collective to empower entrepreneurs, but we also have supporters like the Regions Foundation that help foster a more inclusive and prosperous future in our community,” added Jess Allen, Co-CEO of Propeller.

The $100,000 grant from the Regions Foundation will support a range of activities designed to help entrepreneurs access capital, including tax filing and preparation, business certifications, QuickBooks training, credit building and counseling, financial and managerial accounting, debt preparedness and management, and preparation of loan packages.

“We believe in the power of partnership,” said Chuck Morse, executive director of Thrive New Orleans. “Working together, we can create a thriving environment where every entrepreneur has the opportunity to flourish. We are immensely proud to be a catalyst that helps small businesses access the capital they need to turn their dreams into reality.”

The effort between Propeller, Thrive NOLA, Fund 17, and the Regions Foundation underscores a shared commitment to building a more equitable and prosperous future for New Orleans and its residents.

“This collaboration has been a true sense of developing and supporting across the technical assistance ecosystem. We’ve seen the work from each organization build upon itself as we have all experienced recurring workshop attendees,” said Veranisha Thompson, Fund 17’s executive director. “This model is what effective community partners look like when leveraging our respective resources and programmatic strengths.”

The grant was presented during New Orleans Entrepreneur Week (NOEW), an annual event that brings together business leaders, aspiring entrepreneurs, investors, and other thought leaders to celebrate innovation, technology, entrepreneurship, and culture.

A Closer Look – Small Business Mastermind, Baton Rouge:

The $65,000 in funding from the Regions Foundation for Small Business Mastermind represents the next step in the foundation’s work with the Louisiana Small Business Development Center.

Beginning in 2020, the foundation allocated funding to the SBDC to help small businesses. At the time, the COVID-19 pandemic was unfolding, and the SBDC was meeting urgent needs helping local companies respond.

By investing in initiatives like Small Business Mastermind, our colleagues at the Regions Foundation continue to champion entrepreneurship and economic empowerment across Louisiana.

Amy Province, Baton Rouge market executive for Regions Bank

Now, the relationship between the foundation and the SBDC is evolving to support the Small Business Mastermind program for qualified companies around Louisiana’s capital city. This exclusive and immersive program is tailored for small-business owners who have at least one year of company operation and who meet a minimum threshold of annual sales. Over the course of 10 sessions, participants will unite to address challenges collectively and outline actionable steps forward in expanding their companies.

“This initiative is a source of advice, guidance, networking, and resources,” said Amy Province, Baton Rouge market executive for Regions Bank, who attended the program’s kickoff event. “By investing in initiatives like Small Business Mastermind, our colleagues at the Regions Foundation continue to champion entrepreneurship and economic empowerment across Louisiana.”

The program offers participants access to expert facilitation, monthly sessions, and a close-knit, business-minded community that is driven by seeing entrepreneurs succeed.

“We extend our sincere gratitude for the generous support provided by the Regions Foundation, which is vital in facilitating the Small Business Mastermind program,” said Heidi Melancon, assistant state director of the Louisiana Small Business Development Center. “This contribution helps advance our mission to foster the growth and development of small businesses, thereby enriching our local community and economy.”

About Regions Foundation
The Alabama-based Regions Foundation supports community investments that positively impact communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.

About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $152 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

March 20, 2024 /3BL/ – On March 23rd at 8:30 pm local time, WWF’s Earth Hour will return to unite millions worldwide in support and celebration of our planet. In an increasingly divided world struggling with the impacts of climate change and biodiversity loss, Earth Hour provides much-needed positivity, inspiration, and hope.

Since 2007, Earth Hour has been known for its iconic “lights out” moment, with landmarks and homes worldwide switching off their lights. This year, while major landmarks go dark to celebrate Earth Hour, WWF encourages individuals to ‘Give an Hour for Earth’ by spending 60 minutes participating in any eco-positive activity from now until Earth Day on April 22nd. An interactive online tool will suggest activities for various lifestyles and interests, and participants can log their contribution to the national and global ‘Hour Bank’.

Katy Fenn, Director of Brand Engagement and Education, said: “From food and fitness to art and entertainment, there’s an activity for everyone in the Hour Bank, and we are aiming to bank 100,000 hours here in the United States. This new campaign approach proves that environmental action can be easy, fun and impactful. By expanding participation to those who are not yet environmentally engaged, we hope to raise awareness and spur collective action in protecting our planet.”

For more information, visit https://www.worldwildlife.org/pages/earth-hour.

# # #

For more information, please contact:

tara.doyle@wwfus.org

Assets

Link to social media assets here.

Link to previous Earth Hour photos here.

About Earth Hour

Earth Hour is WWF’s flagship global environmental movement. Over the past 17 years, it has grown to become the world’s largest grassroots movement for the environment, inspiring individuals, communities, businesses and organizations in more than 190 countries and territories to take action for our collective future.

Historically, Earth Hour has focused on the climate crisis, but more recently, Earth Hour has strived to address a range of concerns facing people and the planet. The movement recognizes the role of individuals in creating solutions to the planet’s most pressing environmental challenges and demonstrates the power of millions of people working together towards a common goal.

About World Wildlife Fund (WWF)

WWF is one of the world’s leading conservation organizations, working for 60 years in nearly 100 countries to help people and nature thrive. With the support of 1.3 million members in the United States and more than 5 million members worldwide, WWF is dedicated to delivering science-based solutions to preserve the diversity and abundance of life on Earth, halt the degradation of the environment, and combat the climate crisis. Visit worldwildlife.org to learn more; follow @WWFNews on Twitter to keep up with the latest conservation news; and sign up for our newsletter and news alerts here.

The Social Impact Partner Spotlight series highlights various Cisco non-profit organization partners that are helping transform the lives of individuals and communities. This blog features Cisco’s partnership with Astia and Kiva, in honor of the incredible work these organizations are doing to advance investment opportunities to Black, Indigenous, and People of Color-owned businesses in the United States and globally.

Cisco Social Innovation Investments (SII) and the Cisco Foundation partner with nonprofits globally to invest in equitable and innovative tech-enabled solutions that provide meaningful and scalable impact, especially in underserved communities. Supporting opportunities and partnerships that level the playing field for promising but often overlooked entrepreneurs and companies is a key driver of Cisco SII and the Cisco Foundation’s ability to make long-lasting impact on a local, national, and global scale. Learn more about two of Cisco’s partners, Astia and Kiva, who are leading impactful work in providing opportunities and resources for entrepreneurs and their businesses– and learn about ways to support both organizations.

Astia

“Astia’s investment team came to the table with the expertise, they made calls on my behalf and took investor meetings with me – they breathed life into the funding process. Within a mere four months of Astia saying yes, we had significant investors on our cap table, and we achieved an oversubscribed round.” —Tanya Van Court, Founder & CEO, Goalsetter 

Less than 3% of venture capital is invested into women-led startups with women CEOs, and a mere 0.3% is deployed into companies led by Black or Latina women. Astia is a global pioneer investing in innovative, women-led companies. With a reputation for innovating on the venture capital model, Astia is a beacon of success for investors and entrepreneurs. Its mission is to level the investment playing field for companies led by women, with a particular emphasis on doing so for Black and Latina CEOs. To address the intersectionality of race and gender, Astia established a clear focus via an effort called Astia Edge, a program designed to redress the funding imbalance. Learn more about their findings and focus in this Bloomberg interview with Astia’s CEO and download the Edge whitepaper.

Cisco funding and strategic guidance have enabled the development of an underlying technology platform, Astia Connect. Via Connect, 5,000+ experts around the globe connect with 1,000+ companies each year, elegantly eradicating bias from the investment decision-making process by leveraging technical tools and proven processes. Connect enables multistage, community-driven screening (Expert Sift™) and connections. Cisco’s support has enabled Astia to scale its impact from working with dozens of entrepreneurs each year, to serving hundreds of companies each year.

In 2023, Astia reviewed 1,033 companies, including those led by 100 Black women and 46 Latina CEOs. This represents more than $2.2B in investment opportunities. The current Astia Fund portfolio companies represent:

Employees: 54% women, 36% people of colorLeadership: 70% women, 30% people of colorBoard: 61% women, 39% people of colorSolutions addressing 14 of the 17 UN Sustainable Development Goals

Successful outcomes of some of these companies include:

Candesant: in 2023 launched Brella SweatControl Patch, FDA cleared, for the treatment of excessive underarm sweat, forging a new path forward for aesthetic clinicians and the patients they treat. Brella received the 2023 Allure Magazine Best of Beauty Breakthrough AwardGoalsetter: Nationally recognized for its real-world approach to family-focused financial education, Goalsetter is a goal-based savings and smart spending platform that provides families with both engaging educational media and the foundational tools for building wealth and was chosen by Apple as one of the top 24 apps for 2024 in their exclusive feature, “Our Favorites: 24 Apps for 2024.” with Tanya Van Court being honored by in American Banker’s Most Influential Women in FintechMae Health: a digital health solution on a mission to improve the health and quality of life for underserved mothers, babies, and those who love them, selected as a finalist for the Massachusetts eHealth Institute’s Women’s Health Challenge and spotlighted in the 2024 Digital Health New York 100.

Interested in helping with Astia’s effort to level the investment playing field? Join in two meaningful ways:

Become an Astia Advisor: an international community of industry experts, investors and serial entrepreneurs who are dedicated to seeing more women succeed in high-growth entrepreneurship.Invest in one of the Astia Funds: Astia invests through a family of funds which enable investors to assert their values through investments.

Kiva

“Since our founding, Kiva has been committed to addressing the finance gaps that exist for underserved communities worldwide and this work has extended into the U.S., where countless entrepreneurs lack access to the financing they need to start or grow their businesses. We are thrilled to partner with Cisco in supporting Black and African American entrepreneurs through 0% interest loans, leading to more thriving businesses and communities across the country. We can’t thank Cisco enough for their transformational support of this critical work.” —Brit Heiring, Director of Communications, Kiva

Kiva is an international nonprofit founded in 2005 with a mission to expand financial access to help underserved communities thrive – providing equitable access to financial products and services to traditionally excluded populations. Black, Indigenous, and People of Color-owned businesses are three times more likely to be turned away by banks than non-minority-owned businesses, (NerdWallet). Kiva envisions a financially inclusive world where all people hold the power to improve their lives – focusing on four key areas of support: women, refugees, systemically marginalized entrepreneurs in the U.S., and people impacted by climate change.

Cisco’s funding and strategic guidance have provided support for a variety of Kiva initiatives, investing in early-stage ideas and experimentation, and helping Kiva to successfully replicate and scale those initiatives globally. This includes initiatives to design and test innovative loan products in new markets and sectors, and the adaptation of Kiva’s global model for the U.S. market. Cisco has also donated our technology to enable Kiva to scale their reach in a secure, efficient, and effective manner.

In 2021, Cisco provided support to help Kiva accelerate lending and capacity building to aspiring and existing underserved small business owners in the U.S. and expand their Hubs model to nearly a dozen new cities. That work has continued to further increase support to black entrepreneurs in the U.S. via Cisco’s Social Justice grant-making program.

Today, Kiva U.S. operates in all 50 states, with 40+ Hub partners and 100+ trustee partners. In 2023, Kiva reached 10,000 borrowers, a 49% increase since 2020. And, of the $69M in 0% interest loans funded over the course of the program, 72% has supported Black, Indigenous, and People of Color entrepreneurs and 36% has supported Black entrepreneurs, like Kiki.

To better understand and measure the impact on these borrowers’ lives, Kiva partnered with 60 Decibels in 2022 to interview both Kiva borrowers and non-borrowers. The results speak for themselves:

Without a Kiva loan, 1 in 4 borrowers would’ve had to close their business3 in 4 borrowers wouldn’t have been able to find a good alternative for financing73% of Kiva US borrowers saw their business outlook improve

Now, looking ahead, Kiva is committed to supporting an additional 7,500 systemically marginalized people in the U.S. by 2028.

Cisco is proud to continue to support Kiva in reaching Black, Indigenous, and People of Color communities in the U.S. with financial access.

See how you can get involved:

Read more about Kiva’s impact outcomes for U.S. borrowers.Learn more about Kiva’s commitment to supporting systemically marginalized communities in the U.S.Make a Kiva loan to support a Black, Indigenous, and/or Person of Color entrepreneur in achieving their business goals.

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Bob Herr| Director of Corporate Governance—Responsibility

Ryan Oden| Research Analyst—US Growth Equities

Investors have long theorized that companies with poor corporate governance practices may be more prone to mismanagement and weak returns. To investigate further, we’ve looked inward to a key data source: our proxy votes.

Specifically, we draw a correlation example between governance and returns through AllianceBernstein’s (AB’s) proxy-voting track record in recent years. We think proxy voting is one of the most expressive tools investors can use to communicate a view on the quality of a firm’s governance, providing that it’s based on careful analysis and accountability, not a rubber stamp.

Specifically, leveraging proxy voting and direct engagement* with companies can help to improve them, ideally resulting in better long-term outcomes. Several studies, which include our own findings, have made this connection much more apparent.

The Governance-Return Nexus 

In one study, professors at Harvard Law School constructed an entrenchment index, or “E-index,” based on six key governance provisions. Their findings linked poorer E-index ratings with reductions in firm value and returns across US equities from 1990 to 2003.

More recently, S&P Global found that, between 2000 and 2017, companies in the bottom quartile of S&P Dow Jones Indices’ Governance Scores underperformed those in the top quintile by about 2% on an annualized basis.

Inspired by these observations and our own experience, we built an internal study to determine if a similar association exists between our proxy-voting record and returns. We found that on average companies for which we voted against management on any number of proposals later underperformed those with which we were more strongly aligned.

Standing Up for Governance—One Company at a Time

Evaluating governance isn’t a one-size-fits-all proposition. We utilize a proprietary proxy-voting policy to vet each company’s alignment with our basic expectations, followed by a collaborative review process that leverages analyst expertise and engagement data. This two-pronged approach enables us to incorporate company-specific fundamental insights to implement more constructive voting strategies.

When we surmise a company’s governance practices aren’t supporting our clients’ best interests, we may vote against management to signal our objection. For instance, seeing internal accounting problems, we may record our opposition to the chair of the audit committee; if executive compensation is misaligned with performance, we vote against it. Some governance issues may warrant a stance against the specific board member(s) responsible–also known as an “accountability vote.”

Entered into Evidence, Thousands of AB Proxy Votes

Within this backdrop, our study retraced approximately 34,000 shareholder meetings, consisting of votes on more than 266,000 individual proposals across global firms from 2018 through 2022. Then, we linked each proxy vote to the company’s total stock return the following calendar year.

To help categorize our degree of alignment with management, we grouped the companies into equal-weighted baskets based on our number of votes against management (VAMs). For example, zero VAMs may reflect stronger alignment based on what we believe is sound governance and oversight across the firm. One VAM indicates a single “no” vote on any of the proposed matters, from capitalization and audits to compensation and director elections. Two VAMs reflects our disapproval on two such measures and so forth.

Zero VAMs occurred in 45% of all shareholder meetings during the period, which means we pushed back—whether on minor issues or proposals of greater consequence—a majority of the time. This reflects our rigorous standards and desire to improve upon the status quo. Multiple VAMs can be vital to voice material concerns, especially if a firm’s governance has been a growing issue for several years.

We found that zero-VAM companies—those we fully supported—outperformed those in the other VAM baskets by at least 250 basis points per year. We observed this general trend among similarly sized peers and across most—but not all—sectors and regions. For the five-year period, the average annualized return for zero-VAM companies was 11.5%, almost double that for companies in the three+ VAM basket (Display).

Mind over Matter—Proxy Voting Should Be Thoughtful

Proxy voting should be more than a compliance exercise. It’s a fundamental tool in active management, empowering investors to sway companies from pitfalls that can impede long-term performance. In matters of governance especially, we’ve found that well-thought-out proxy votes can make a positive impact on important business decisions, from leadership and disclosures to compensation and capitalization.

Landon Shea, Proxy and ESG Engagement Associate at AB, and Peter Højsteen-Ljungbeck, ESG Data Research Associate at AB, were instrumental in the research that formed the basis for this blog.

*AB engages issuers where it believes the engagement is in the best interest of its clients. 

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.

Learn more about AB’s approach to responsibility here.

This article originally appeared in Newsweek on March 19, 2024.

Globally, over 3.5 billion people lack access to adequate sanitation and safe water. It’s a staggering statistic and the ramifications extend beyond easy access to clean water and toilets. Without sanitation, many of these already at-risk populations, of which women are especially vulnerable, are also more susceptible to life-threatening water-borne diseases and malnutrition.

Despite the urgent need, funding for programs that help provide safe water and sanitation to at-risk communities is severely short. According to the recently published 2024 Water Funding Gap report from Action Against Hunger, only 36 percent of global appeals for water and sanitation-related funding were met in 2023, leaving a 64 percent gap. With World Water Day around the corner, the international community must act faster to address these inequities.

Our report examined data from countries with the most urgent needs seeking financial support for water, sanitation, and hygiene (WASH) programs through the U.N. humanitarian system. Our analysis found that the global community would need to quadruple its progress on water and sanitation programs to meet U.N. Sustainable Development Goal (SDG) 6, access to water and sanitation for all by 2030. The inconsistent and unreliable funding for WASH programs is a chronic pattern, however, and it has grim results.

Insufficient progress on WASH is contributing to an upsurge in cholera worldwide, with a new case every 45 seconds, and more than 4,000 deaths reported in 2023. Known as the disease of inequity, cholera is preventable and treatable, but can mean death for people dealing with poverty and hunger.

Cholera is a waterborne infection caused by the bacterium Vibrio cholerae, which seeps into food and water supplies. When someone ingests contaminated food or water, they contract the disease. Symptoms typically include severe diarrhea, serious dehydration, rapid weight loss, and extreme fatigue. It also can lead to septic shock and can kill within hours if not treated.

While treatment is typically straightforward, access to even rudimentary health care is a life-threatening challenge where cholera thrives. Cholera does not discriminate by age or gender, but typically impacts populations that lack access to safe and clean water sources. People trapped in unsanitary conditions, from refugee camps to rural villages, are more likely to contract the disease.

The disease’s short incubation period, between two hours and five days, means it is highly contagious and can spread swiftly through a community. It is such a grave threat that the detection of even one case is considered an epidemic.

In the last 100 years, cholera has been almost completely eradicated from Europe and North America. But in countries with weak or damaged WASH infrastructure, tens of millions are getting ill and tens of thousands died from the disease last year. Most cases occurred in low-income countries, including countries in Africa and the Eastern Mediterranean regions, which accounted for 90 percent of reported cases.

In 2010, Haiti suffered one of the world’s worst cholera outbreaks, with over 10,000 people dying. By 2020, Action Against Hunger had helped the country to reach a point of near-eradication. Recently, there has been an uptick in the disease due to a collapse of sanitation services amid a rising wave of violence, which is also making it hard for aid to reach those who need it most.

In Sudan, conflict has continued since April 2023, triggering massive displacement and food insecurity for 1 in 3 people. Many now live in overcrowded refugee camps with inadequate water and hygiene support. With nearly 25 million people—including 14 million children—in desperate need of humanitarian aid, the situation is dire. As of February 2024, reported cases of cholera surpassed 10,000, with nearly 300 deaths. We fear the number may be even higher.

Similarly, after more than 13 years of conflict in Syria, the country’s vital infrastructure has been destroyed and hunger is widespread. Millions rely on humanitarian aid to survive. The country has been burdened by economic collapse, complex political issues, recurrent epidemics, destroyed infrastructure, and widespread hunger. In September 2022, the Syrian Ministry of Health declared a cholera outbreak. Between August 2022 to August 2023, 14 governorates reported over 173,000 suspected cases across the country.

Inadequate WASH funding is directly linked to malnutrition and disease. And, for billions of people, a lack of sanitation and drinking water isn’t just an issue on World Water Day, but every day. Climate change has accelerated the crisis, with droughts and floods making access to safe water even more scarce. We must respond with critical funding and climate-smart solutions to save lives.

Michelle Brown is an associate director of advocacy at Action Against Hunger.

Being a part of a team that ‘makes stuff’ is pretty awesome. Hear from some of the women from across our company who share how being motivated to contribute and partnering with others has helped them advance their careers. This International Women’s Day, hear their advice for young women entering the manufacturing industry.

Based in Atlanta, Georgia-Pacific and its subsidiaries are among the world’s leading manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, cellulose, specialty fibers, nonwoven fabrics, building products and related chemicals. Our familiar consumer brands include Quilted Northern®, Angel Soft®, Brawny®, Dixie®, enMotion®, Sparkle® and Vanity Fair®. Georgia-Pacific has long been a leading supplier of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers. Its Georgia-Pacific Recycling subsidiary is among the world’s largest traders of paper, metal and plastics. The company operates more than 150 facilities and employs more than 30,000 people directly and creates approximately 89,000 jobs indirectly. For more information, visit: gp.com/about-us . For news, visit: gp.com/news

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CNH has announced a new partnership with leading agricultural training provider Tocal College, which gives students access to the latest in precision ag technology. The company presented Tocal with two tractors, a Case IH Puma 165 and a New Holland T7.230 tractor, as part of a new three-year agreement.

“This is such a valuable collaboration, in that it provides the most up-to-date and technologically advanced machinery to share with our students, so they have the knowledge and skills they need to best equip them for life after college,” said Darren Bayley, Tocal College Principal and Center Director.

“And, it not only allows us to introduce our younger full-time students to this type of technology, we can also use the machinery to upskill our current workforce and the hundreds of trainees we’re supporting in the field.”

CNH National Key Accounts Manager Tobie Payne said the company was proud to continue its investment in rural and regional communities, and to assist in training the next generation of Australian farmers at Tocal College.

As part of the agreement, CNH will utilise the college’s facilities for staff and customer training, while Case IH and New Holland will be the major sponsors of the upcoming Tocal Field Days, where the brands will showcase a wide range of machinery, including the latest additions to their extensive line-ups.

“CNH and local dealers Double R New Holland and KP & DC Machinery are excited to partner with Tocal to showcase our world-leading technology and products,” Tobie said.

“Australian farmers are global leaders in technology adoption and are actively managing two farms – a physical farm and a digital farm. This partnership exposes students to the digital side of farming, a critical tool in driving efficiency and profitability for our customers.”

The two tractors will go straight to work across the college’s 2,225-hectare property that includes commercial dairy, beef, poultry and cropping operations. The tractors will be upgraded to the latest model available every year with the newest suites of technology.

Tocal College staff have already received a full day of operator training from CNH representatives as well as dealers Double R New Holland and KP & DC Machinery. Ongoing service, training and support will be provided by CNH and the dealers for the duration of the partnership.

This partnership demonstrates CNH’s commitment to supporting local communities and to educating the next generation of farmers in Australia, and across the globe.