Tag: 3BL

Originally published by The National Park Foundation

The National Park Foundation (NPF) is participating as a national charity partner beneficiary for the 11th consecutive year in the Subaru Share the Love® Event. Running from November 16, 2023, through January 2, 2024, the campaign connects people everywhere to the value of experiencing the outdoors together and provides the opportunity to give back to national parks across the country.

Through the annual Subaru Share the Love Event, Subaru of America and its retailers will provide support to the National Park Foundation, providing critical funding to programs and projects that help protect America’s more than 400 national parks.

As the largest corporate partner of the National Park Foundation, Subaru of America has provided over $55 million in support to protect national parks since 2013. During that time, Subaru of America has funded projects to increase recycling and composting in parks and championed innovative solutions to reduce waste in parks through its Don’t Feed the Landfills initiative. Subaru has also helped fund projects that expand access in national parks for historically excluded communities, supporting groups like Black People Who Hike who hiked six parks across the country.

“We are thankful for our partnership with Subaru and their generosity to help us accelerate impact across America’s national parks,” said Dawn Rodney, chief external affairs officer, National Park Foundation. “National parks have never been more popular, and when the National Park Foundation is selected as a charity of choice, we can protect and connect people to these cherished places for present and future generations.”

Click here to learn more about the Share the Love Event and the Subaru support of NPF’s Outdoor Exploration, Parks of the Future, and Resilience and Sustainability initiatives.

About the National Park Foundation
The National Park Foundation works to protect wildlife and park lands, preserve history and culture, educate, and engage youth, and connect people everywhere to the wonder of parks. We do it in collaboration with the National Park Service, the park partner community, and with the generous support of donors, without whom our work would not be possible. Learn more at nationalparks.org.

Originally published by The National Park Foundation

The National Park Foundation (NPF) is participating as a national charity partner beneficiary for the 11th consecutive year in the Subaru Share the Love® Event. Running from November 16, 2023, through January 2, 2024, the campaign connects people everywhere to the value of experiencing the outdoors together and provides the opportunity to give back to national parks across the country.

Through the annual Subaru Share the Love Event, Subaru of America and its retailers will provide support to the National Park Foundation, providing critical funding to programs and projects that help protect America’s more than 400 national parks.

As the largest corporate partner of the National Park Foundation, Subaru of America has provided over $55 million in support to protect national parks since 2013. During that time, Subaru of America has funded projects to increase recycling and composting in parks and championed innovative solutions to reduce waste in parks through its Don’t Feed the Landfills initiative. Subaru has also helped fund projects that expand access in national parks for historically excluded communities, supporting groups like Black People Who Hike who hiked six parks across the country.

“We are thankful for our partnership with Subaru and their generosity to help us accelerate impact across America’s national parks,” said Dawn Rodney, chief external affairs officer, National Park Foundation. “National parks have never been more popular, and when the National Park Foundation is selected as a charity of choice, we can protect and connect people to these cherished places for present and future generations.”

Click here to learn more about the Share the Love Event and the Subaru support of NPF’s Outdoor Exploration, Parks of the Future, and Resilience and Sustainability initiatives.

About the National Park Foundation
The National Park Foundation works to protect wildlife and park lands, preserve history and culture, educate, and engage youth, and connect people everywhere to the wonder of parks. We do it in collaboration with the National Park Service, the park partner community, and with the generous support of donors, without whom our work would not be possible. Learn more at nationalparks.org.

Eleanor O’Sullivan was in a shopping mall food court in 2011 when her partner of more than six years, Ivan O’Regan, took her hand and looked at her as if he had something to say. She stopped him before he could utter a word. 

“Wait, we’re not doing this here,” Eleanor recalls telling Ivan in that moment. “I knew he had something big to tell me.” 

Big turned out to be an understatement. When they got home, Ivan shared that he’d just been diagnosed with young-onset Parkinson’s disease. He was 31 years old. Eleanor was 32. 

Now, over a decade later, Eleanor shares how Ivan’s diagnosis changed both of their lives—and how a Boston Scientific treatment helped them take a turn for the better. 

Ivan’s symptoms were subtle at first. He was finding it difficult to type certain keyboard commands, like control-alt-delete. When he’d lift his hand up, he noticed it shaking a little bit.

We now know these were early signs of Parkinson’s disease. But it wasn’t until Ivan took me to the emergency room one day after I’d cut my finger that he ultimately talked to a doctor about his symptoms. The doctor recommended he come back for a brain scan.

A few weeks later, we found ourselves in that food court.

A slow progression of Parkinson’s symptoms

When we started searching to learn more about Parkinson’s, all we saw were images of older people. The advice we found didn’t speak to us at all.

We were in denial as well, thinking, This isn’t supposed to be happening. We’re just starting out in life. For the first two years, Ivan had appointments every six months. While his symptoms were manageable, we had so many questions: Can Ivan keep working? Am I going to have to look after him indefinitely? Can we have a family?

One night, Ivan started sobbing in bed and asked, “What’s to become of me?” I didn’t have an answer for him. But I said, “Whatever it is, we’ll get through it together.”

At first, life went on as usual for the most part. Ivan is an accountant and continued to work. I also continued working in the finance department of a multinational company. We had children: Effy, who’s now 6 years old, and Ellis, who’s 5.

Then, Ivan’s Parkinson’s symptoms started getting worse. He’d have to lay down in an empty conference room when he was at the office. He also had painful stiffness down the left side of his body and muscle cramping that made typing difficult. He went on leave in summer 2018 and hasn’t returned since.

A few times, Ivan’s stiffness and cramping was so bad that his chest tightened, leaving him gasping for breath. It was so hard to see him that way. I felt powerless. There were times I’d say to Ivan, “If I could take this from you for a day I would.”

I know it sounds selfish, but there were also times when I thought God, this diagnosis has ruined my life as well. 

The Parkinson’s treatment that changed everything

Ivan could see the pressure on me. He felt so guilty about that and still does. But that was a dark time for us. I cried every day. The medication he’d been prescribed made him feel so ill that he wouldn’t take it. This would cause arguments between us, because when he didn’t take the medication, he couldn’t move for hours, literally stuck in a chair. Meanwhile I was juggling work and caring for our two young children. At one point I said to him, “There comes a time where love isn’t enough.”

Once Ivan started deteriorating, I was thankful his doctor talked to him about deep brain stimulation (DBS), a treatment that uses a small, surgically implanted device to send signals to a targeted portion of the brain. The stimulation can improve motor function by reducing Parkinson’s symptoms such as tremor, slowness and stiffness. In February 2022, within a year of Ivan’s doctors talking to him about DBS, Ivan was in the hospital having the procedure done.

We weren’t naïve; we knew DBS would not cure his Parkinson’s. But today, I can say our lives are so much better. Now, I’m able to do what I want, when I need to. I don’t have worries about Ivan being with the children—he’s moving well again. We have pretty much our normal lives back.

We had an eye-opening moment when Ivan went for his one-year follow-up after DBS. The doctors turned off the brain stimulation, and his symptoms quickly came back. We both cried. Those symptoms had become a distant memory. It was such a big realization of how the DBS is masking Ivan’s Parkinson’s.

But by God, it’s a fantastic mask.

Advice for other caregivers

So many couples fall apart and don’t make it through a Parkinson’s diagnosis. After all, there is no cure.

I’ve learned a few things since Ivan’s diagnosis that I hope can help others in our situation:

Try to be open about your situation. I was forthcoming with my employers from day one of Ivan’s diagnosis. Explaining it early on laid the groundwork for more understanding later. If you try not to bring this big, life-changing diagnosis that will undoubtedly impact you into your workplace, it will happen anyway. People will notice. I think you’ll find people show you a lot more support than you think you’ll get.

Remember it’s OK to have your own needs. “How’s Ivan?” This is a question I field all the time. It’s never, “How are you?” It’s OK to feel disappointed by this, and to seek out the people who do put your feelings first. I think more caregivers need to talk honestly about their emotions. It’s not wrong to think these things. You can’t be positive all the time. But if you keep the negative stuff bottled up, you can’t be positive any of the time.

Look for the silver linings. Even though we’ve had a lot of dark times, every day we’ve had a good moment. And it’s important to recognize those—to say, This is good today, and we are happy. Yes, this disease is awful. But we’re OK. And after DBS, that is especially true.

Are you caring for someone with Parkinson’s disease? Click here for resources and support.

View original content here.

Eleanor O’Sullivan was in a shopping mall food court in 2011 when her partner of more than six years, Ivan O’Regan, took her hand and looked at her as if he had something to say. She stopped him before he could utter a word. 

“Wait, we’re not doing this here,” Eleanor recalls telling Ivan in that moment. “I knew he had something big to tell me.” 

Big turned out to be an understatement. When they got home, Ivan shared that he’d just been diagnosed with young-onset Parkinson’s disease. He was 31 years old. Eleanor was 32. 

Now, over a decade later, Eleanor shares how Ivan’s diagnosis changed both of their lives—and how a Boston Scientific treatment helped them take a turn for the better. 

Ivan’s symptoms were subtle at first. He was finding it difficult to type certain keyboard commands, like control-alt-delete. When he’d lift his hand up, he noticed it shaking a little bit.

We now know these were early signs of Parkinson’s disease. But it wasn’t until Ivan took me to the emergency room one day after I’d cut my finger that he ultimately talked to a doctor about his symptoms. The doctor recommended he come back for a brain scan.

A few weeks later, we found ourselves in that food court.

A slow progression of Parkinson’s symptoms

When we started searching to learn more about Parkinson’s, all we saw were images of older people. The advice we found didn’t speak to us at all.

We were in denial as well, thinking, This isn’t supposed to be happening. We’re just starting out in life. For the first two years, Ivan had appointments every six months. While his symptoms were manageable, we had so many questions: Can Ivan keep working? Am I going to have to look after him indefinitely? Can we have a family?

One night, Ivan started sobbing in bed and asked, “What’s to become of me?” I didn’t have an answer for him. But I said, “Whatever it is, we’ll get through it together.”

At first, life went on as usual for the most part. Ivan is an accountant and continued to work. I also continued working in the finance department of a multinational company. We had children: Effy, who’s now 6 years old, and Ellis, who’s 5.

Then, Ivan’s Parkinson’s symptoms started getting worse. He’d have to lay down in an empty conference room when he was at the office. He also had painful stiffness down the left side of his body and muscle cramping that made typing difficult. He went on leave in summer 2018 and hasn’t returned since.

A few times, Ivan’s stiffness and cramping was so bad that his chest tightened, leaving him gasping for breath. It was so hard to see him that way. I felt powerless. There were times I’d say to Ivan, “If I could take this from you for a day I would.”

I know it sounds selfish, but there were also times when I thought God, this diagnosis has ruined my life as well. 

The Parkinson’s treatment that changed everything

Ivan could see the pressure on me. He felt so guilty about that and still does. But that was a dark time for us. I cried every day. The medication he’d been prescribed made him feel so ill that he wouldn’t take it. This would cause arguments between us, because when he didn’t take the medication, he couldn’t move for hours, literally stuck in a chair. Meanwhile I was juggling work and caring for our two young children. At one point I said to him, “There comes a time where love isn’t enough.”

Once Ivan started deteriorating, I was thankful his doctor talked to him about deep brain stimulation (DBS), a treatment that uses a small, surgically implanted device to send signals to a targeted portion of the brain. The stimulation can improve motor function by reducing Parkinson’s symptoms such as tremor, slowness and stiffness. In February 2022, within a year of Ivan’s doctors talking to him about DBS, Ivan was in the hospital having the procedure done.

We weren’t naïve; we knew DBS would not cure his Parkinson’s. But today, I can say our lives are so much better. Now, I’m able to do what I want, when I need to. I don’t have worries about Ivan being with the children—he’s moving well again. We have pretty much our normal lives back.

We had an eye-opening moment when Ivan went for his one-year follow-up after DBS. The doctors turned off the brain stimulation, and his symptoms quickly came back. We both cried. Those symptoms had become a distant memory. It was such a big realization of how the DBS is masking Ivan’s Parkinson’s.

But by God, it’s a fantastic mask.

Advice for other caregivers

So many couples fall apart and don’t make it through a Parkinson’s diagnosis. After all, there is no cure.

I’ve learned a few things since Ivan’s diagnosis that I hope can help others in our situation:

Try to be open about your situation. I was forthcoming with my employers from day one of Ivan’s diagnosis. Explaining it early on laid the groundwork for more understanding later. If you try not to bring this big, life-changing diagnosis that will undoubtedly impact you into your workplace, it will happen anyway. People will notice. I think you’ll find people show you a lot more support than you think you’ll get.

Remember it’s OK to have your own needs. “How’s Ivan?” This is a question I field all the time. It’s never, “How are you?” It’s OK to feel disappointed by this, and to seek out the people who do put your feelings first. I think more caregivers need to talk honestly about their emotions. It’s not wrong to think these things. You can’t be positive all the time. But if you keep the negative stuff bottled up, you can’t be positive any of the time.

Look for the silver linings. Even though we’ve had a lot of dark times, every day we’ve had a good moment. And it’s important to recognize those—to say, This is good today, and we are happy. Yes, this disease is awful. But we’re OK. And after DBS, that is especially true.

Are you caring for someone with Parkinson’s disease? Click here for resources and support.

View original content here.

In the fast-paced digital age, electronic waste, commonly known as e-waste, has emerged as a formidable environmental challenge. With the relentless advancement of technology, the disposal of electronic devices has skyrocketed, leading to harmful consequences for our planet.

According to a study conducted by the United Nations in 2019, the world generates approximately 50 million tons of e-waste annually, and only 20% of it is recycled. Without intervention, e-waste is on track to reach an astonishing 120 million metric tons per year by 2050.

However, amidst this pressing concern, a glimmer of hope shines through the concept of the circular economy. Embracing a circular approach means reimagining the lifecycle of products, encouraging reuse, refurbishment, and recycling to minimize waste and resource depletion. As businesses play a pivotal role in shaping the future, their sustainability efforts are now more critical than ever.

At Cisco, we are focused on evolving from a linear economy, where products are used and then thrown away, to a circular economy that makes better use of our limited natural resources.

Cisco seeks to incorporate sustainability into its business practices, and part of our strategy involves minimizing the environmental impact as we develop, deploy, AND manage products at end of use in order to foster a more sustainable future. Here are some ways Cisco is working to improve sustainability  throughout our value chain.

Circular Design Principles

By prioritizing responsible product design and keeping sustainability at the forefront of these decisions, we are focused on reducing environmental impact, enhancing customer satisfaction, reducing costs, and fostering innovation, ultimately supporting a stronger market position and a more sustainable future.

At Cisco, we have a goal to incorporate Circular Design Principles into 100% of new products and packaging by 2025. In fiscal 2021, we developed a circular design evaluation methodology and tool to enable us to track progress toward that goal.

Product Takeback and Recycling Programs

Cisco’s commitment to circular economy principles extends to the end-of-use stage of products. By establishing robust product takeback, reuse and recycling programs, such as Cisco’s Product Takeback and Reuse, Customer Recycling Solutions and Cisco Refresh, we  are prioritizing responsible reuse, recycling, and disposal of our products and we encourage our customers and partners to participate in these programs. Nearly 100 percent of the products that are returned to Cisco are reused or recycled.

Embracing the Internet of Things (IoT) for Resource Optimization

By integrating IoT devices into operations, businesses can gather real-time data from various sources, enabling them to make informed decisions that can reduce resource waste while increasing efficiency.

Building operations, a source of up to 27 percent of carbon emissions in the world, are one example of what IoT can support. At Cisco’s Penn 1 office in New York, a recent retrofit added 5,000 IoT sensors and connected devices to the company’s 9th floor space, providing a constant stream of data that informs automated lighting, environmental, and other systems, running on low-voltage DC power from the network itself.

Collaboration and Advocacy

Cisco actively collaborates with industry partners, governments, and non-profit organizations to drive awareness and action in combating e-waste. We participate in policy discussions, share best practices, and advocate for sustainable practices across the industry. By fostering collaboration, Cisco amplifies its impact and encourages others to adopt circular economy principles.

Through programs like Cisco Green Pay, Cisco helps engage customers in the circular economy.

Cisco Green Pay is an IT payment solution that makes it easier for customers to build a sustainable technology strategy, simplifying budgeting for environmental, social, and governance (ESG) goals, and provides a path towards a more sustainable future for not just their own operations but possibly for other companies worldwide.

By embracing innovative product design, resource optimization, and responsible product end-of-use practices (including returns, reuse, and recycling), Cisco is setting a precedent for reducing waste, conserving resources, and reducing environmental impact.

Learn more about Cisco’s payment solutions to support a circular economy or visit the ESG Hub for more on Cisco’s product sustainability practices.

View original content here.

In the fast-paced digital age, electronic waste, commonly known as e-waste, has emerged as a formidable environmental challenge. With the relentless advancement of technology, the disposal of electronic devices has skyrocketed, leading to harmful consequences for our planet.

According to a study conducted by the United Nations in 2019, the world generates approximately 50 million tons of e-waste annually, and only 20% of it is recycled. Without intervention, e-waste is on track to reach an astonishing 120 million metric tons per year by 2050.

However, amidst this pressing concern, a glimmer of hope shines through the concept of the circular economy. Embracing a circular approach means reimagining the lifecycle of products, encouraging reuse, refurbishment, and recycling to minimize waste and resource depletion. As businesses play a pivotal role in shaping the future, their sustainability efforts are now more critical than ever.

At Cisco, we are focused on evolving from a linear economy, where products are used and then thrown away, to a circular economy that makes better use of our limited natural resources.

Cisco seeks to incorporate sustainability into its business practices, and part of our strategy involves minimizing the environmental impact as we develop, deploy, AND manage products at end of use in order to foster a more sustainable future. Here are some ways Cisco is working to improve sustainability  throughout our value chain.

Circular Design Principles

By prioritizing responsible product design and keeping sustainability at the forefront of these decisions, we are focused on reducing environmental impact, enhancing customer satisfaction, reducing costs, and fostering innovation, ultimately supporting a stronger market position and a more sustainable future.

At Cisco, we have a goal to incorporate Circular Design Principles into 100% of new products and packaging by 2025. In fiscal 2021, we developed a circular design evaluation methodology and tool to enable us to track progress toward that goal.

Product Takeback and Recycling Programs

Cisco’s commitment to circular economy principles extends to the end-of-use stage of products. By establishing robust product takeback, reuse and recycling programs, such as Cisco’s Product Takeback and Reuse, Customer Recycling Solutions and Cisco Refresh, we  are prioritizing responsible reuse, recycling, and disposal of our products and we encourage our customers and partners to participate in these programs. Nearly 100 percent of the products that are returned to Cisco are reused or recycled.

Embracing the Internet of Things (IoT) for Resource Optimization

By integrating IoT devices into operations, businesses can gather real-time data from various sources, enabling them to make informed decisions that can reduce resource waste while increasing efficiency.

Building operations, a source of up to 27 percent of carbon emissions in the world, are one example of what IoT can support. At Cisco’s Penn 1 office in New York, a recent retrofit added 5,000 IoT sensors and connected devices to the company’s 9th floor space, providing a constant stream of data that informs automated lighting, environmental, and other systems, running on low-voltage DC power from the network itself.

Collaboration and Advocacy

Cisco actively collaborates with industry partners, governments, and non-profit organizations to drive awareness and action in combating e-waste. We participate in policy discussions, share best practices, and advocate for sustainable practices across the industry. By fostering collaboration, Cisco amplifies its impact and encourages others to adopt circular economy principles.

Through programs like Cisco Green Pay, Cisco helps engage customers in the circular economy.

Cisco Green Pay is an IT payment solution that makes it easier for customers to build a sustainable technology strategy, simplifying budgeting for environmental, social, and governance (ESG) goals, and provides a path towards a more sustainable future for not just their own operations but possibly for other companies worldwide.

By embracing innovative product design, resource optimization, and responsible product end-of-use practices (including returns, reuse, and recycling), Cisco is setting a precedent for reducing waste, conserving resources, and reducing environmental impact.

Learn more about Cisco’s payment solutions to support a circular economy or visit the ESG Hub for more on Cisco’s product sustainability practices.

View original content here.

For over 16 years, Georgia-Pacific LLC has participated in the Susan G. Komen More Than Pink Walk. We just had our largest team since 2019, with over 150 registered participants! The More Than Pink Walk is all about coming together as one to fund research, increase access to care, support our community, and commit to ending breast cancer.

Georgia-Pacific

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

View original content here.

For over 16 years, Georgia-Pacific LLC has participated in the Susan G. Komen More Than Pink Walk. We just had our largest team since 2019, with over 150 registered participants! The More Than Pink Walk is all about coming together as one to fund research, increase access to care, support our community, and commit to ending breast cancer.

Georgia-Pacific

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

View original content here.

Patrick O’Connell, CFA| Director—Fixed Income Responsible Investing Research

Christian DiClementi| Portfolio Manager—Emerging Market Debt

Elizabeth Bakarich, CFA| Portfolio Manager—Emerging Market Corporate Debt

Just six metrics can effectively assess sovereign issuers’ sustainability and provide guidance for both issuers and investors.

From a sustainability perspective, investing in sovereign emerging-market (EM) debt can feel messy. Most investors feel just familiar enough with individual EM countries to fall prey to subjective judgments when making comparisons. The market tends to overreact to news—good news, bad news and often both at once. And huge, complex data sets bog down analyses and muddy the view.

That’s why we’ve charted a new path: one that sheds light on sovereign EM investing through a small set of concrete metrics that help identify potential value and provide guidance for both issuers and sustainable investors.

Gauging Sustainability with Precision Metrics

To solve the problems of subjectivity, reactivity and obscurity, we’ve identified six measures by which a sovereign issuer may be ruled in or out of an investable universe of sustainable sovereign debt.

We began with the 17 UN Sustainable Development Goals (SDGs), which we recognize as a blueprint for identifying sustainable investments. Together, these 17 SDGs comprise 169 specific sub-targets. From these, we selected six that represent the broader investment themes of climate, health and empowerment. We believe that these six sub-targets capture the spirit of the larger list. They cover the transition to low-emissions energy consumption; biodiversity; hunger; infant mortality; equal employment opportunities; and institutional strength (Display).

For each of these six sub-targets, we identified a specific measure. For example, to be considered in alignment with UN SDG 3.2 (one of the two health sub-targets), countries should reduce newborn mortality to 12 or fewer deaths per 1,000 live births—a threshold set by the UN. Roughly half of all countries pass this metric.

Applying the Framework to Narrow the Investable Universe

The result is a robust analytical framework anchored in specific UN SDG targets. A country that passes all six metrics qualifies for sustainable EM investing. Countries that fail three or more metrics should not be considered for inclusion in a sustainable investing universe.

In our analysis, countries that fall just short of passing, failing only one or two of the six metrics, deserve a closer look. If we believe we can engage* with the country to improve in that fifth or sixth category, that country may become eligible for inclusion.

Just how rigorous is this methodology? Only about half of all countries pass any single metric. Fewer than 20% of countries globally, including developed markets, pass all six metrics.

Further, thanks to the materiality of the identified metrics over the long run, we believe that countries that pass this framework can deliver better risk and return outcomes over time than those that fail.

Putting the Framework into Practice

Three countries—Chile, Brazil and the Philippines—exemplify the rigor of this framework.

Chile hits the mark by passing all six metrics. The country’s sustainable development is on par with that of many developed countries. For example, from 2010 through 2019, Chile increased wind and solar energy from around 1% to 14% of total electricity. Since 2000, it has increased its forested land by around 15%. It recently met UN goals around lowering preventable infant deaths. And it has a strong female participation rate in the labor force.

Brazil fails one critical metric: deforestation. Since 2000, the country’s forest cover has declined by 10%, due mostly to destruction of the Amazon rainforest. (Almost 20% of the Amazon rainforest has been destroyed since 1970.) In our framework, this signals the need for investors and asset managers such as ourselves to actively engage with Brazil to make needed improvements on this front.

After all, Brazil leads the world in many other sustainability measures: increasing wind and solar from around 0% to 10% of total electricity; meeting the UN threshold on preventable infant deaths; and having a fairly strong labor force participation rate from women.

By contrast, the Philippines fails on three metrics and thus is not yet eligible for inclusion in our sustainable universe, despite having a dynamic economy and an investment-grade rating. From 2010 through 2019, the country increased wind and solar only marginally to just 2% of its electricity matrix. Though the Philippines has worked to reduce preventable infant deaths, at the current rate the country will fail to meet UN goals by 2030. And the labor force participation rate from women is below our threshold.

The Benefits of a Sustainable Framework

Not only is this framework robust, but unlike many existing approaches to defining a sustainable investment universe, our approach is simple, transparent and objective, with data drawn from neutral sources such as the World Bank.

What’s more, our approach positions the investable universe to grow as more countries meet more metrics, because it uses absolute, rather than relative, thresholds. In addition, five of the six metrics are forward-looking, so that we are able to assess not only where a country is now (static measure) but where it is going (dynamic measure). And the approach allows for targeted, effective engagement on material and relevant issues—helping an issuer move the needle from nearly to fully qualified.

Lastly, our framework for sustainable sovereign investing aligns with investor objectives and intentions. Where the goal is to improve sustainable practices around the world, we believe our framework stands out as both effective and credible.

*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.

Patrick O’Connell, CFA| Director—Fixed Income Responsible Investing Research

Christian DiClementi| Portfolio Manager—Emerging Market Debt

Elizabeth Bakarich, CFA| Portfolio Manager—Emerging Market Corporate Debt

Just six metrics can effectively assess sovereign issuers’ sustainability and provide guidance for both issuers and investors.

From a sustainability perspective, investing in sovereign emerging-market (EM) debt can feel messy. Most investors feel just familiar enough with individual EM countries to fall prey to subjective judgments when making comparisons. The market tends to overreact to news—good news, bad news and often both at once. And huge, complex data sets bog down analyses and muddy the view.

That’s why we’ve charted a new path: one that sheds light on sovereign EM investing through a small set of concrete metrics that help identify potential value and provide guidance for both issuers and sustainable investors.

Gauging Sustainability with Precision Metrics

To solve the problems of subjectivity, reactivity and obscurity, we’ve identified six measures by which a sovereign issuer may be ruled in or out of an investable universe of sustainable sovereign debt.

We began with the 17 UN Sustainable Development Goals (SDGs), which we recognize as a blueprint for identifying sustainable investments. Together, these 17 SDGs comprise 169 specific sub-targets. From these, we selected six that represent the broader investment themes of climate, health and empowerment. We believe that these six sub-targets capture the spirit of the larger list. They cover the transition to low-emissions energy consumption; biodiversity; hunger; infant mortality; equal employment opportunities; and institutional strength (Display).

For each of these six sub-targets, we identified a specific measure. For example, to be considered in alignment with UN SDG 3.2 (one of the two health sub-targets), countries should reduce newborn mortality to 12 or fewer deaths per 1,000 live births—a threshold set by the UN. Roughly half of all countries pass this metric.

Applying the Framework to Narrow the Investable Universe

The result is a robust analytical framework anchored in specific UN SDG targets. A country that passes all six metrics qualifies for sustainable EM investing. Countries that fail three or more metrics should not be considered for inclusion in a sustainable investing universe.

In our analysis, countries that fall just short of passing, failing only one or two of the six metrics, deserve a closer look. If we believe we can engage* with the country to improve in that fifth or sixth category, that country may become eligible for inclusion.

Just how rigorous is this methodology? Only about half of all countries pass any single metric. Fewer than 20% of countries globally, including developed markets, pass all six metrics.

Further, thanks to the materiality of the identified metrics over the long run, we believe that countries that pass this framework can deliver better risk and return outcomes over time than those that fail.

Putting the Framework into Practice

Three countries—Chile, Brazil and the Philippines—exemplify the rigor of this framework.

Chile hits the mark by passing all six metrics. The country’s sustainable development is on par with that of many developed countries. For example, from 2010 through 2019, Chile increased wind and solar energy from around 1% to 14% of total electricity. Since 2000, it has increased its forested land by around 15%. It recently met UN goals around lowering preventable infant deaths. And it has a strong female participation rate in the labor force.

Brazil fails one critical metric: deforestation. Since 2000, the country’s forest cover has declined by 10%, due mostly to destruction of the Amazon rainforest. (Almost 20% of the Amazon rainforest has been destroyed since 1970.) In our framework, this signals the need for investors and asset managers such as ourselves to actively engage with Brazil to make needed improvements on this front.

After all, Brazil leads the world in many other sustainability measures: increasing wind and solar from around 0% to 10% of total electricity; meeting the UN threshold on preventable infant deaths; and having a fairly strong labor force participation rate from women.

By contrast, the Philippines fails on three metrics and thus is not yet eligible for inclusion in our sustainable universe, despite having a dynamic economy and an investment-grade rating. From 2010 through 2019, the country increased wind and solar only marginally to just 2% of its electricity matrix. Though the Philippines has worked to reduce preventable infant deaths, at the current rate the country will fail to meet UN goals by 2030. And the labor force participation rate from women is below our threshold.

The Benefits of a Sustainable Framework

Not only is this framework robust, but unlike many existing approaches to defining a sustainable investment universe, our approach is simple, transparent and objective, with data drawn from neutral sources such as the World Bank.

What’s more, our approach positions the investable universe to grow as more countries meet more metrics, because it uses absolute, rather than relative, thresholds. In addition, five of the six metrics are forward-looking, so that we are able to assess not only where a country is now (static measure) but where it is going (dynamic measure). And the approach allows for targeted, effective engagement on material and relevant issues—helping an issuer move the needle from nearly to fully qualified.

Lastly, our framework for sustainable sovereign investing aligns with investor objectives and intentions. Where the goal is to improve sustainable practices around the world, we believe our framework stands out as both effective and credible.

*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.