Originally published on U.S. Bank company blog

American Banker has recognized two U.S. Bank leaders in its annual roster of the Most Powerful Women in Banking and Finance, naming Vice Chair Gunjan Kedia and Senior Vice President Alli Yttreness among individual honorees.

Kedia, a vice chair and member of the 16-person Managing Committee, is head of Wealth, Corporate, Commercial and Institutional Banking (WCIB). In this role, she leads more than 11,100 employees and oversees one of the three core business lines at the company, which accounts for 38% of U.S. Bank revenue (as of June 30, 2023). Kedia was named to the Most Powerful Women in Finance list; it is the sixth consecutive year she has been honored.

Yttreness, senior vice president and the company’s director of regulatory controls in WCIB, was honored on the publication’s annual ranking of Most Powerful Women in Banking: NEXT, which highlights women 40 years old and younger who are believed to have potential to ascend to the C-suite. The NEXT awards were announced in July, and Yttreness was profiled in American Banker.

“Strong, powerful women are shaping the future of our industry, and we are fortunate to have many of them at U.S. Bank,” said Andy Cecere, chairman, president and CEO of U.S. Bank. “Gunjan and Alli are among those leading the way. We are a better company because of their unique perspectives and leadership. We applaud all of this year’s honorees.”

U.S. Bank leaders have been consistently recognized in the Most Powerful program since its inception 21 years ago.

“These women represent so much more than world-class business acumen and inspirational leadership skills,” said Chana Schoenberger, editor-in-chief at American Banker. “They symbolize the perseverance it takes to create meaningful change, the commitment needed to build stronger communities, and the creativity that’s essential to drive the industry into a new age.”

In a new apartment in the heart of Hollywood, Karrie and her cats Gentleman and Rosebud have made a home.

In 2021, she was one of the first residents to move into a redevelopment project just steps away from the Dolby Theatre, home of the Oscars. Not long before then, a divorce and family strife left Karrie alone at a train station in the middle of the pandemic. The instability quickly left her without a home, an experience that reminded her of struggling through the foster system growing up.

“I know exactly what a homeless person feels like, always going from place to place, getting moved out and put somewhere else,” she said. “I didn’t want to be on the streets. I would go out every day to look for avenues to get help. … You can’t even dream on the streets.”

Karrie lived on the streets of Los Angeles for a week before outreach workers connected her with temporary housing. After a couple of months, she moved into the Orchid, a former Hollywood-themed hotel that was converted into permanent supportive housing via Project Homekey.

The multibillion-dollar program allowed the state of California and its housing partners to buy and renovate hotels, motels, and other sites to combat the state’s homelessness crisis.

Suddenly, Karrie had her own fully furnished apartment. The rehabilitated double-suite room came complete with glassware in the kitchen and sheets for her new bed. Not only were there services like daily meals and art therapy in her building, but holiday spreads on Thanksgiving and presents on Christmas, too.

“I felt like I was in a five-star hotel. From a cot to a king-sized bed. It was beautiful. How could you not want [that]?” she said. “I was in awe. Now I’m thinking, ‘Keep it clean and keep it beautiful.'”

What is Project Homekey and why does it work?

Behind Karrie’s journey to housing were a series of partners brought together by a hugely innovative mobilization to house people in California.

Project Homekey cut through the red tape typical of affordable housing development by offering billions in federal funds to Los Angeles County, cities, and housing organizations across the state to redevelop existing sites, rather than build new projects. Affordable housing projects typically require five or more years of finding and buying a site and amassing money from a laundry list of sources.

Geoffrey Moen, development director of the Housing Authority of the City of Los Angeles, or HACLA, one of the largest developers of Project Homekey housing, called it “unheard of.”

“It’s so different from how housing gets financed in every other way it’s done around the country,” he said. “[Homekey] is just very simple. And as a result, it allowed things to move very quickly and cut down costs tremendously.”

The unprecedented efforts were designed to address an unprecedented crisis. More than 171,000 people experience homelessness in California, which make up 30% of the country’s homelessness population and half of its unsheltered people, according to University of California San Francisco research published in June. Across the states, there’s affordable housing for only about 1 in 4 extremely low-income households.

The surge in funding and the homelessness crisis amid the pandemic meant housing partners were crunched to find and build Homekey communities. That’s where Wells Fargo Foundation experts saw an opportunity to help.

“We wanted to be in a place where we were helping the program and, therefore, helping the state to demonstrate that there are effective pathways for helping end someone’s experience of homelessness,” said Justine Gonzalez, vice president, Philanthropy & Community Impact for Wells Fargo in Los Angeles.

Through seven Project Homekey Accelerator Grants, Wells Fargo supported housing groups by funding their vetting of new housing sites and their deposits to acquire them. Several grants went to HACLA and PATH, an LA-based housing nonprofit. Such grants are part of Wells Fargo’s broader commitment as The Bank of Doing to making housing more attainable for individuals and families in California and throughout the nation.

Among the projects supported by the grants is the Orchid, which the two organizations partnered to create. Along with Wells Fargo’s initial support, the project was possible because of Homekey capital grants. Ongoing expenses are covered through housing vouchers and a portion of residents’ benefits and/or wages.

“Project Homekey allowed us to be nimble, to think of creative solutions, and to find new ways to end homelessness,” said Jennifer Hark Dietz, PATH CEO. “The fact that we have existing buildings that could be retrofitted to bring more housing online faster than ever — that’s hugely innovative for us.”

A new foundation

The first two rounds of Homekey funded the creation of nearly 13,000 homes, giving thousands of people experiencing homelessness an opportunity to get back on their feet. Gonzalez noted that supporting initiatives such as Homekey helps make individuals, families, and the communities they live in more sustainable.

“A home is very much the foundation for a household, a family, an individual’s ability to thrive. Thriving can mean economic mobility, access to education, access to transportation resources,” Gonzalez said. “That home is really the base for helping to make those other types of wealth building and economic advancement opportunities available.”

A permanent home gave Karrie the space to process what happened to her and move forward.

“The love, the kindness, touched me. People don’t realize how blessed they really are,” she said. “You can always change your [mindset] by focusing on positive things to get out of the mentality ditch you’re in.”

When she’s not taking care of her cats and doing art therapy, Karrie volunteers with her church to connect others who are experiencing homelessness with resources and community.

“There is hope out there for everybody,” she said. “I hope I can help others.”

By: Mark Kirchgasser, Vice President of Sales – Away from Home, Sofidel America

Sustainability is an increasingly important focus for many businesses. Climate change is affecting our lives and the planet, which means sustainable business practices are vital for business owners, leaders and administrators.

Awareness is a good starting point for businesses looking to become more sustainable. As organizations become more aware of the current impacts their business practices have on the environment, the more likely they are to make strides in reducing their company’s carbon footprint and take on roles as industry leaders.

Waste and Sustainability

Waste continues to be a growing issue, and 20 businesses have been found to generate roughly 55% of global plastic waste. Before it’s too late, these leaders must make sustainable changes to limit their organizations’ impact on our environment.

Studies show that consumers are willing to forgo brands that don’t support their values, and consumers supporting sustainable companies have grown in popularity. At least 50% of consumers cite the pandemic for causing them to rethink what’s important to them, which changes their buying habits. By doing this, they’re setting the bar for industries to re-strategize and set new standards for meeting and exceeding expectations.

At least 76% of consumers say they are attracted to businesses or brands that source services and materials in ethical ways. Additionally, 65% of consumers say they would rather do business with brands that are environmentally friendly and provide credible “green” credentials for their products, services, minimizing harm to the environment and investing in sustainability.

Why Businesses Should Care About Sustainability

Many CEOs have reported that their businesses have already experienced damaging effects due to climate change, and as a result, are ready to take action. These effects are considered a wakeup call with the goal of speeding up their transition to more sustainable business models. While some CEOs have already taken action, others may follow. It’s a matter of demonstrating behaviors crucial to achieving a competitive stance by way of sustainability.

With increasing frequency of natural disasters globally, CEOs are forced to reckon with an urgent need to adapt and become more resilient, especially across supply chains. The pandemic has done little to help matters, particularly with pressure from investors and capital markets pushing for quick climate action. According to President Biden’s Federal Sustainability Plan, ambitious goals are underway to deliver an emissions reduction pathway pursuant to President Biden’s goal of reducing U.S. greenhouse emissions by 50%-52% from 2005 levels by 2030. Through this plan, the Federal Government aims to achieve 100% carbon-pollution free electricity by 2030, including 50% on a 24/7 basis, 100% zero-emission vehicle acquisitions by 2035, and net-zero emissions buildings by 2045, including a 50% reduction by 2032, among others.

Incorporating Sustainable Practices

When it comes to incorporating sustainable practices, there are several ways in which organizations can do their part. Some examples include:

Look for Third-Party Certifications—Facility managers are working to make restrooms more environmentally friendly, which is why it’s important to consider the impact of paper products on sustainability. While many facility managers cite using recycled paper products as a way to comply with green-purchasing plans and contribute to their organization’s sustainability goals, third party organizations like Green Seal have developed standards for products, including those used in a facility restroom.

CDP ratings are also important. CDP is a nonprofit organization supporting investors, companies, cities, countries and regions globally to manage their environmental impacts. This organization’s Supplier Engagement Rating measures the ability of suppliers to engage in the fight against climate change. Companies should choose to work with businesses with a CDP “A” rating, demonstrating its commitment to fighting climate change.

Use Tracking Technology—There are now technologies available that make it easy to track cleaning measures and limit doubling up on procedures. Gone are the days of using a piece of paper to track when cleaning professionals service a restroom or other area of a facility. Consider partnering with companies that provide technology to quickly analyze how often areas are being serviced and help ensure tasks are getting done on time. Facility managers can also optimize time by logging and analyzing cleaning and disinfecting activity for each respective zone – this reduces overservicing and lowers the cost of labor and products used.Mitigate Corporate Water Risk—There are a number of ways in which facilities can reduce the amount of water waste. These include reducing pollution and integrating water management into their business strategies. Several corporations are taking steps to efficiently limit their water consumption. It’s important that companies consider the impact water usage has on their bottom lines, including areas of business that are vulnerable to water shortages, and ways in which to reduce consumption.

The Business of Going Green

Sustainability is important not only for the environment, but also for your business. As industry leaders, it’s imperative to lead by example, which is why making greener decisions puts your business at the forefront of the competition. CEOs taking strides toward a more sustainable business model have cited seeing significant improvements to their infrastructure and bottom line. Incorporating sustainable practices takes effort, which can be demonstrated by partnering with third-party certifications and introducing tracking technology to the business to reduce paper usage.

About Mark Kirchgasser

Mark Kirchgasser is Vice President of Sales — Away from Home, at Sofidel America. He is a 30-year veteran of the tissue industry. Sofidel is a world leader in the manufacture of paper for hygienic and domestic use, including its Papernet brand of sustainable hygiene solutions. For more information, visit www.papernet.com/americas.

About The Sofidel Group

The Sofidel Group, a privately held company owned by the Stefani and Lazzareschi families, is a world leader in the manufacture of paper for hygienic and domestic use. Founded in 1966, the Group has subsidiaries in 12 countries – Italy, Spain, the UK, France, Belgium, Germany, Sweden, Poland, Hungary, Greece, Romania, and the USA – with more than 6,400 employees. A member of the UN Global Compact and the international WWF Climate Savers program, the Sofidel Group considers sustainability a strategic imperative and is committed to promoting sustainable development.  For more information, visit www.sofidel.com. 

Media Contact:

Brianna Fitzpatrick,  Mulberry Marketing Communications  bfitzpatrick@mulberrymc.com

Originally published on TriplePundit

Cotton is ubiquitous, found throughout our daily lives. We find cotton in clothing, bedding, cloth napkins, towels and countless other textiles. It has been used for millennia and is a durable, natural textile material.

Today, a tightly woven collaboration among farmers, scientists, and businesses are applying scientific rigor and data quantification to measure the positive outcomes attained when farmers utilize regenerative practices to grow cotton. Regenerative farming practices employs strategies, such as using cover crops and reducing tillage, that help to restore soil health and biodiversity while leveraging nature to reduce or eliminate the need for chemical additives.

A virtuous loop for companies and consumers

With science showing the potential environmental benefits gained when farmers use regenerative agriculture practices, companies are starting to source more of their materials from farmers who employ these practices as a way to help lessen their environmental footprint. In the textile and apparel space, a good example is VF Corporation (VF), one of the world’s largest apparel, footwear and accessories companies that includes iconic brands such as The North Face, Timberland, Vans and Smartwool.

The company began developing a framework and strategy to achieve greater progress on environmental stewardship and social responsibility back in 2016. Three years later, it was among the first in its sector to set an approved science-based target to reduce Scope 1, 2 and 3 greenhouse gas emissions by 2030.

“Our purpose statement is focused on the betterment of people and the planet,” said Jeannie Renne-Malone, vice president of global sustainability at VF. “And we are committed to designing products that align with and advance our purpose.”

When mapping its environmental footprint, similar to the textile industry as a whole, VF found that a vast majority of its environmental impacts, about 70 percent, occur during the extraction, processing and production of raw materials.

In an effort to decrease that impact, together with The North Face, VF initiated a partnership with Indigo Ag, a science and technology company for sustainable agriculture, through the Carbon by Indigo program. The success of that initial relationship led additional VF portfolio brands to participate in Indigo Ag’s Market+ Source program.

“The use of regenerative farming practices has the potential to improve soil health, and allow for more carbon capture in the ground rather than emitted into the atmosphere, and overall provide net beneficial impacts for the environment, farmers, and local communities” Renne-Malone said.

Cotton, rubber, wool and leather are among VF’s topthe raw materials that the company VF seeks to make more sustainable throughout its supply chain. The Market+ Source program helps to make this vision attainable for cotton, she said.

“What’s so compelling about regenerative agriculture is it gets back to a more traditional and natural way of growing crops and managing the land,” Renne-Malone said. “When cotton is grown using regenerative agriculture practices, such as those used by the farmers Indigo Ag works with, we’re seeing improvements in water cycles and soil health. Additionally, we’re aiming to help improve economic diversity for farmers and their communities through crop diversity and reduced use of fertilizers, herbicides and pesticides.”

Regenerative agriculture begins with the farmer

Fifth-generation Oklahoma farmer Eric Kahle, a partner with The North Face and Indigo Ag for cotton production, embodies Renne-Malone’s enthusiasm.

“Our family was seeing erosion issues, weed problems, and expensive fertilizer bills,” Kahle said. “We are attempting to solve all of those problems and more, as we learn about how important biology is in running not just our crops, but the entire earth.”

Getting in sync with nature yields tangible benefits. “Instead of us having to buy something, the land already gives it to us,” Kahle said. “Through working with the processes natural to the earth, we save money, make a profit and feel good about doing it.”

One cost-saver Kahle shared is reduced tillage through the use of cover crops. Tillage equates to expensive fuel use and soil damage. Cover crops reduce the need for tilling the land and also provide nutrients to the soil with less or no added fertilizer. “It’s like not having to take a vitamin because you’re eating full foods,” Kahle explained.

Cover crops also bring the benefit of better water management, an important point of progress for cotton production, which traditionally has a high water footprint. The rains are often plentiful at Kahle’s farm in Oklahoma — sometimes too plentiful. They recently reported six inches of rain in a single week.

“We can’t always absorb that into the soil,” Kahle said. “We might get an inch … that’s actually usable and doesn’t run off. So, the way cover crops help the soil trap that moisture and retain it for long-term use is incredible.”

That not only saves money with reduced irrigation, but it also fights erosion from water inundation. And with the big winds of Oklahoma, the cover crops provide a buffer for both the soil and the cotton plants.

Like the environment, farmers face hazards from chemical introductions to soil and crops — another reason Kahle is highly focused on soil biology, a strength of Indigo Ag’s scientific rigor.

“We will be able to produce better crops, more affordably and with higher quality, which is healthier for those that consume it, those that use it, those that wear it — and the cattle, deer, birds, all of them,” Kahle said. “Everything in our environment will become healthier if we first heal the soil.”

The value of “boots on the ground”

Indigo Ag’s personnel work directly with agribusinesses and farmers — from data scientists quantifying progress to agronomists like P.R. Morris, who advises on how to implement regenerative practices.

“Soil is its own ecosystem,” Morris said. To best promote the health of that ecosystem, Indigo Ag advises following a set of five principles, including armoring the soil, minimizing its disturbance and integrating livestock. Morris helps farmers start small and ramp up such beneficial practices — a pragmatic approach that helps farmers manage the economic risk of trying methods that differ from long-standing conventional farming.

One of Morris’ favorite regenerative practices to start with is cover crops. “I absolutely love cover crops,” he said, referring to the practice of planting quick-growing, small crops between or during the big cash crop cycles. Along with the erosion prevention and water management Kahle mentioned, cover crops help suppress weeds, resulting in reduced herbicide use and costs. They also protect the soil with living roots in the ground and shade from UV damage.

“The easiest thing to do is just a single species — wheat, because it’s cheap, or cereal rye,” Morris said. As a next step after a grain or grass cover crop, he often advises the addition of legumes.

“Legumes pull nitrogen out of the air and fix it in the ground,” Morris said, a benefit to reducing fertilizer use and cost.

Each group of cover crops has its own unique, biological superpower. Taproot crops, like radishes, are good at breaking up compacted soil, while grasses and legumes are perfect for summer grazing. All of these soil boosters give cotton roots and young plants a stronger start, with ongoing protection during the growing cycle, which leads to higher-quality cotton. And every cover crop helps bring more carbon into the soil, so adding and maintaining cover crops can also help farmers qualify to earn carbon credits through Indigo Ag.

Cotton’s broad reach

The North Face brand’s purchase of registry-issued carbon credits was a first step for VF into the relatively new frontier of quantifying the environmental impact of regenerative cotton. Today, the brand offers consumers apparel made from cotton grown using regenerative agriculture practices from its early partnership with Indigo’s Market+ Source program. At the same time, Timberland and Vans are similarly working on how to incorporate this fiber into their product lines in the future. Renne-Malone captured what VF’s experience means.

“We know we cannot meet our sustainability goals alone,” she said. “I hope that other brands that source cotton — in our sector and beyond — consider the benefits that investments in regenerative agriculture practices can garner and help scale these practices to bring even greater benefits to farmers and our communities around the world.”

Strengthening the roots of a plant gives it resilience. Expanding regenerative agriculture practices through this type of partnership promises the same benefits for people and the planet, starting from the ground up.

Learn more from Indigo Ag about the progress being made to make agriculture more sustainable for people and the planet.

This article series is sponsored by Indigo Ag and produced by the TriplePundit editorial team.

High school students in Pittsburgh and Cleveland recently wrapped up a summer of conservation improving local green spaces and parks. The students worked as crew members for the Student Conservation Association (SCA), funded by a KeyBank Foundation grant of $300,000. The generous support is part of KeyBank’s investment into the communities it serves and demonstrates its ongoing commitment to climate action and environmental justice.

In total, SCA crews, supported by the KeyBank Foundation, improved over 13,700 feet of trail and educated 815 local youth in Pittsburgh and Cleveland about environmental education and conservation.

SCA is the largest provider of hands-on environmental conservation programs for youth and adults. Program participants protect and restore national parks, marine sanctuaries, cultural landmarks and community green spaces at various locations across the country. After working with the SCA, program participants emerge with increased environmental awareness, social responsibility and leadership skills.

Through its Urban Green Program, the SCA provides young people with paid green jobs. Pittsburgh is home to the SCA’s largest and longest-running program for high schoolers, which provides youth with a 6-week summer job doing hands-on conservation work in city parks and community green spaces.

This summer in Pittsburgh, The Tree Pittsburgh Roving Crew worked in partnership with Tree Pittsburgh, an environmental non-profit dedicated to restoring and protecting Pittsburgh’s urban forest. Some of their accomplishments include improving 150 feet of trail and 800 feet of shoreline and planting nearly 50 trees and wildflowers.

At Riverview Park, a student crew worked on the Wissahickon Trail. This work was necessary to create a more walkable and bike able trail, and to stop future water damage from pooling and flowing. Together, the team improved 139 feet of trail and built and maintained eight new structures.

“KeyBank is so proud of the work the student crews accomplished this summer in Pittsburgh,” said Vic Laurenza, KeyBank’s Western Pennsylvania Market President. “We are grateful for their dedication to improving communities and leaving Pittsburgh better for the next generation.”

Watch the video above to see an overview of the work completed this summer.

Originally published on bloomberg.com

Bloomberg Media Initiative Africa (BMIA) has launched in francophone West Africa for the first time. More than 100 delegates participated in Bloomberg’s Financial Journalism Training (FJT) program in Senegal and Côte d’Ivoire. The delegates are part of the first cohort to participate in the program through French.

At country launches in Dakar and Abidjan, participants from the media, government and civil society were joined by senior representatives from the Senegal and Cote d’Ivoire governments to celebrate the expansion of the FJT program to French speaking markets.

Over the next eight months, delegates will spend 23 days in interactive in-person sessions led by prominent faculty members at local universities. Participants will engage in a series of workshops that will strengthen their skills in and understanding of data analysis, capital markets, accounting, public policy, economics and the transforming media landscape. Financial journalism sessions will be taught by Bloomberg News reporters. Delegates will also receive a free, six-month subscription to the Bloomberg Terminal, offering access to global data, news and analysis.

The sessions have been developed in partnership with prominent faculty at local universities, including Centre d’Etudes des Sciences et Techniques de l’Information (CESTI) and Centre Africain d’Etudes Supérieures en Gestion (CESAG) in Senegal, and the Institut des Sciences et Techniques de la Communication (ISTC) In Côte d’Ivoire, in collaboration with Strathmore University Business School (SUBS) in Kenya.

Speaking following the event in Dakar the Honorable Moussa Bocar Thiam, Minister of Communications, Telecommunications and Digital Economy, Senegal said: “We are excited that BMIA has launched its financial journalism training program in Senegal in partnership with CESTI and CESAG. It is crucial that journalists develop key business journalism and data analysis skills as the Senegalese economy transforms and investment opportunities evolve. I am confident that the program will support the continuous progression of media in the region through exposing them to leading financial journalism experts and concepts.”

Speaking following the event in Abidjan the Honoroable Amadou Coulibally, Minister of Communication and Digital Economy, Cote d’Ivoire said: “We are delighted that BMIA has launched its financial journalism training program in Cote d’Ivoire. As our economy and business networks continue to expand, it is vital that local journalists develop the techniques needed to accurately report on complex transitions and developments. By participating in this program, Ivorian media will learn techniques from some of the world’s leading financial journalism experts.”

“Since 2014, more than 800 delegates have completed the Financial Journalism Training program, from countries right across the continent. The practical training delegates receive, particularly in the area of financial data analysis, has proved invaluable to participants as they develop in their careers, says Erana Stennnett, Head of Bloomberg Corporate Philanthropy in the Africa & Middle East and Director of Bloomberg Media Initiative Africa. “As we offer the program in French for the first time, we hope this new cohort of journalists and executives lead the way in shaping the future of robust business and financial journalism in francophone Africa.

The FJT program, part of Bloomberg Media Initiative Africa (BMIA), supports the advancement of financial journalism to  contribute to more inclusive economic development on the continent of Africa. In collaboration with a consortium of pre-eminent journalism and business schools across eight key African markets, BMIA is designed to deliver a highly innovative, integrated and practical world-class executive training program that is firmly rooted in African market realities. The expansion of the program to Senegal and Cote d’Ivoire, follows the success of the program in Ghana, Kenya, Nigeria, South Africa, Tanzania, and Zambia, where over 800 delegates from 16 countries have graduated to date.

FJT is offered to journalists and mid-career professionals in communications, business, government and civil society. The Financial Journalism Training program is a core component of BMIA, which aims to contribute to the advancement of business and financial reporting in Africa. Funded by Bloomberg Philanthropies, the initiative is supported by the Stavros Niarchos Foundation and the Ford Foundation.

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Follow the conversation online using #BMIAFJT

To view a report on the aims and outcomes of phase one of the BMIA program see here.

For more information on BMIA please click here.

About the Bloomberg Africa Media Initiative (BMIA)

Launched by Mike Bloomberg in South Africa in 2014, the Bloomberg Africa Media Initiative (BMIA) is a pan-Africa program designed to accelerate development of a globally competitive media and financial reporting industry as well as promote transparency, accountability and good governance in Africa and beyond. The initiative has four components: It provides cross-disciplinary educational programs to increase the number of highly trained business and financial journalists, as well as supports research to stimulate new media innovations, convene international leaders to promote interactive dialogue and build strong relationships to enhance the quality of financial coverage and the availability of reliable and timely data on the continent.

About Bloomberg Philanthropies:

Bloomberg Philanthropies invests in 700 cities and 150 countries around the world to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: the Arts, Education, Environment, Government Innovation, and Public Health. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s giving, including his foundation, corporate, and personal philanthropy as well as Bloomberg Associates, a pro bono consultancy that works in cities around the world. In 2022, Bloomberg Philanthropies distributed US$ 1.7 billion. For more information, please visit  bloomberg.org, sign up for our newsletter,  or follow us on  Facebook,  Instagram,  YouTube,Twitter/X, and LinkedIn.

Media Contact:
Oisin O Malley – Bloomberg LP
oomalley2@bloomberg.net

First ever annual estimate of economic value of water and freshwater ecosystems is $58 trillion – equivalent to 60% of global GDPDegradation of rivers, lakes, wetlands and aquifers threatens their economic value and their irreplaceable role in sustaining human and planetary health

October 16, 2023, WASHINGTON /3BL/ – Water, the world’s most precious yet undervalued resource, lies at the heart of a mounting global crisis that threatens both human and planetary health, warns a new report, published today by WWF.

Released on World Food Day, The High Cost of Cheap Water uncovers a stark reality: the annual economic value of water and freshwater ecosystems is estimated to be $58 trillion – equivalent to 60% of global Gross Domestic Product (GDP)*. But the world’s freshwater ecosystems are in a downward spiral, posing an ever growing risk to these values.

Since 1970, the world has lost one-third of its remaining wetlands, while freshwater wildlife populations have, on average, dropped by 83%. This disastrous trend has contributed to growing numbers of people facing water shortages and food insecurity, as rivers and lakes have faced extremes of drought and flooding, pollution has increased and food sources, such as freshwater fisheries, have declined. The water crisis is also exacerbating economic pressures and undermining global efforts to reverse nature loss and adapt to the worsening impacts of climate change, from devastating droughts and extreme floods to sea level rise.

“Water and freshwater ecosystems are not only fundamental to our economies, they are also the lifeblood of our planet and our future,” said Stuart Orr, WWF Global Freshwater Lead. “We need to remember that water doesn’t come from a tap – it comes from nature. Water for all depends on healthy freshwater ecosystems, which are also the foundation of food security, biodiversity hotspots and the best buffer and insurance against intensifying climate impacts. Reversing the loss of freshwater ecosystems will pave the way to a more resilient, nature-positive and sustainable future for all.”

For example, the report shows that here in the U.S. and in Mexico, the Rio Grande/Rio Bravo (RGRB) is drying up due to extensive human water withdrawals that are exacerbated by climate change. The RGRB supplies water for agricultural, industrial and municipal uses for more than 6 million people in the United States and slightly over 10 million people in Mexico. If actions are not taken today, we could see a 25% loss of river flows in parts of the RGRB basin by 2050, leading to devastating consequences for the people, wildlife and businesses that it sustains.

“The alarming impacts from droughts, floods, decline of critical species, and water availability for human use and agriculture are staggering,” said Michele Thieme, WWF Deputy Director, Freshwater. “There is still an opportunity to lessen and even prevent these impacts from causing further acute harm, but we must take action now to safeguard these vital life supporting ecosystems.”

The report finds that direct economic benefits, such as water consumption for households, irrigated agriculture and industries, amount to a minimum of $7.5 trillion annually. It also estimates that the unseen benefits – which include purifying water, enhancing soil health, storing carbon, and protecting communities from extreme floods and droughts – are seven times higher at around $50 trillion annually.

However, the degradation of rivers, lakes, wetlands, and groundwater aquifers is threatening these values as well as undermining action on climate and nature and progress towards the UN Sustainable Development Goals. Extracting unsustainable amounts of water, harmful subsidies, alterations to river flows, pollution, and climate change-related impacts are endangering freshwater ecosystems. Shockingly, two-thirds of the world’s largest rivers are no longer free-flowing, while wetlands are continuing to be lost three times as fast as forests.

Combined with poor water management, the destruction of freshwater ecosystems has left billions of people worldwide lacking access to clean water and sanitation, while water risks to businesses and economies are growing. By 2050, around 46% of global GDP could come from areas facing high-water risk – up from 10% today.

To address the global water crisis, WWF calls for governments, businesses and financial institutions to urgently increase investment in sustainable water infrastructure. However, it cautions that outdated thinking, which focuses solely on more built infrastructure and ignores the source of the problem: degraded rivers, lakes, wetlands, and aquifers, will not solve the water crisis, especially in the era of climate disruption.

The key lies in recognizing the role of freshwater ecosystems as natural infrastructure that can support confronting the twin crises of climate change and nature loss. Investments need to focus on reversing the ongoing loss of freshwater ecosystems. Governments, for example, should join the Freshwater Challenge, a country-led initiative that aims to restore 300,000 km of degraded rivers and 350 million hectares of degraded wetlands globally by 2030 and to protect intact freshwater ecosystems. Meanwhile businesses must transform their approach to water and scale up collective action to build more resilient river basins.

 

# # #

Notes to Editors

Media contact: Amy.Fallah@wwfus.org

An interactive web summary of the report can be viewed here.The full High Cost of Cheap Water: The true value of water and freshwater ecosystems to people and planet report can be downloaded hereStatic and animated infographics for media use can be downloaded here

* GDP values are from the latest available annual datasets from 2021.

About WWF 
WWF is one of the world’s leading conservation organizations, working in nearly 100 countries for over half a century to help people and nature thrive. With the support of 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 http://www.worldwildlife.org to learn more and keep up with the latest conservation news by following @WWFNews on Twitter and signing up for our newsletter and news alerts here.

NEW YORK, October 16, 2023 /3BL/ – The International WELL Building Institute (IWBI) is pleased to announce new organizations that have joined its membership program, bringing the total number of IWBI member organizations to more than 200. The most recent additions to the network span industries including banking, design and real estate, and signify a continued prioritization of health and well-being of people across buildings, organizations and communities.

“Our IWBI membership community is made up of global leaders driving the movement for people-first places ,” said Rachel Hodgdon, President and CEO, IWBI. “By investing in their people through WELL, these 200+ organizations know that by supporting a healthier workforce they can see improved financial and reputational returns and build a healthier world for all.”

More than 20 organizations have joined as new members in the past quarter:

American Society of Interior Designers (ASID)Arwin Technology LimitedBank of New ZealandBiamp SystemsBlade AirClifford Chance LLPDr. Ho’s HK, Ltd.Dynamic StarGoldman SachsGuangdong Jinding Construction Engineering Co., Ltd.HB ReavisHines AustraliaHuizhou CDN Industrial Development Co., LtdJiangsu Insona Communication Technology Co., LtdJiangsu Shenghe Fangdichan Gufen YouxiangongsiLighting Recipe Studio LimitedLogiSon Acoustic NetworkMSDNaturaRolex Watch USAShanghai DST Technology Co,LtdShanghai Starplus Property Management Co., Ltd

IWBI membership is a global initiative that offers commercial benefits, as well as brand visibility and networking opportunities. These new members join IWBI’s existing membership community, which can be found here.

The IWBI membership community accompanies the uptake of the WELL Building Standard (WELL) offerings including WELL Certification, WELL ratings and WELL at scale programs, which stand at nearly 5 billion square feet of real estate applying WELL strategies across 127 countries. Much of WELL’s adoption is driven by a global network of WELL Accredited Professionals (WELL APs) and exam registrants, a community now totaling over 24,700 people. Organizations have the opportunity to join IWBI’s membership community through its Works with WELL licensing program, which recognizes products and solutions that contribute to the achievement of specific features in the WELL Standard as indicated by a Works with WELL trademark. Works with WELL enrollment includes IWBI membership.

There are two tiers of membership and a third designation for companies enrolled in the WELL at scale program. This allows companies to select the best fit for their organizational goals. Member benefits include discounts on the WELL Certification process and WELL AP credentialing program, specialized opportunities to publicize accomplishments and more touchpoints with IWBI leadership and across the broader community through members-only year-round events and enhanced digital engagement. The program creates opportunities for WELL advocates and champions to stay connected, share best practices, explore new shared initiatives and receive greater recognition for these efforts.

About the International WELL Building Institute
The International WELL Building Institute (IWBI) is a public benefit corporation and the world’s leading organization focused on deploying people-first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and WELL ratings, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and well-being everywhere. More information on WELL can be found here.

International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Equity, WELL Performance Rated, WELL Performance Rating, Works with WELL, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.

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media@wellcertified.com

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From pharmaceuticals to household and personal care products to the fashion and electronics industries, the adoption of green and sustainable chemistry practices across an array of sectors and supply chains can help accelerate the pace towards a more sustainable and healthier world.

The implementation of green and sustainable chemistry practices—such as making chemical products from safer and more sustainable feedstocks, reagents and solvents, or designing chemical products for reuse or recycling—can be applied across the life cycle of a product. With this circular thinking, the practice of green and sustainable chemistry can help leaders across industries prevent pollution and design safer products at the molecular level.

Industry collaboration is crucial to spark dialogue and drive innovative strategies and policies to systematically transform the way chemistry is thought about and practiced, giving companies and organizations the knowledge and framework to better address sustainability through chemistry. As such, MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, will host Change Chemistry, a nonprofit dedicated to helping companies scale and implement greener, more sustainable and safer chemistries, in St. Louis, Missouri, from November 14-16, 2023, for the 2023 U.S. Innovators Roundtable. The event is also offered virtually, and registration tickets are available for purchase.

The Innovators Roundtable engages leading innovators, investors and government officials as well as startups and those in the academic and non-profit sectors in the green and sustainable chemistry space. The event will include keynote speaker presentations, informative panel sessions and breakout discussions with leaders such as Dr. John Warner, who is known as one of the cofounders of the field of green chemistry, coauthoring and articulating the 12 Principles of Green Chemistry.

A 2021 report conducted by Change Chemistry—formerly known as The Green Chemistry & Commerce Council—in partnership with NYU Stern Center for Sustainable Business, North Carolina State University, the Dynamic Sustainability Lab at Syracuse University and Duke University, found 84% of companies have increased investment in R&D of green chemistry products, with almost all anticipating continued investment over the next five years. This underscores the need for continued industry collaboration and partnership to accelerate the pace of green chemistry implementation.

As companies are forecasted to increasingly invest in green chemistry for years to come, preparing the next generation of scientists and researchers with the green skills required to enter the industry is of utmost importance. This will be a topic of many sessions at the event. Among them is a session on the importance of green chemistry education featuring industry leaders such as Dr. Amy Cannon, co-founder and executive director, Beyond Benign.

Visit MilliporeSigma’s Sustainability & Social Business Innovation webpage to learn more about how it is continuing to act on the goal of its parent company—Merck KGaA, Darmstadt, Germany—to achieve human progress for more than one billion people through sustainable science and technology by 2030.

Leading apparel manufacturer Gildan takes pride in celebrating Hispanic Heritage Month, with around 45,000 employees worldwide, a significant portion of whom live in Honduras, Nicaragua, and the Dominican Republic or are of Hispanic heritage in North America. Recognizing the Hispanic culture that runs deep at Gildan provides a great opportunity for the organization to mark and honor the invaluable contributions of the Hispanic community to North American history and, of course, the Gildan community. To celebrate, Gildan ran an internal campaign featuring a number of employees who shared their perspectives on what makes them proud of their heritage.

“Celebrating Hispanic Heritage Month is an expression of our commitment to inclusivity and a chance to appreciate the unique insights and experiences that our Latin American employees bring to the workplace,” says Karine Doucet, Vice-President of Global Talent Management and Culture at Gildan. “By showcasing the heritage and the various cultures of our Hispanic employees, we foster understanding and strengthen the connection within our diverse workforce.”

Meet two Gildan employees featured during this campaign to learn what their Hispanic heritage means to them:

Joseline Bendeck Cooper

Born in Honduras, Joseline Bendeck Cooper is a Senior Legal Advisor in Montreal. She first began her journey at Gildan as a legal assistant at Gildan’s Rio Nance manufacturing office. After completing her master’s degree in Scotland, she had the chance to join Gildan’s legal team once again, this time in Canada.

Joseline cherishes her Honduran heritage, celebrating traditions such as gathering with friends and family on Christmas to cook Honduran dishes such as tamales and flan. One of the traits she admires from her culture is the resilient spirit of Hondurans – “even when times are tough, we relentlessly face challenges with a smile on our faces; this part of my culture has instilled in me a sense of gratitude and resilience in the face of adversity,” says Joseline. She attributes her success at Gildan to these learnings, as well as the hard work and determination with which she performs in each of her roles.

Raul Roman

Raul Roman, Shipping and Logistics Manager in Charleston, is of Puerto Rican heritage with a cultural mix representing various backgrounds, including Spanish, African, and Taino. Born in New Jersey, he inherited many Puerto Rican traditions from his mother, whether through food, music, or art, that have contributed to shaping his identity. For instance, Raul enjoys celebrating Los 3 Reyes (Three Kings Day), every year on January 6, a holiday acknowledged in many Latin American and Caribbean countries.

A large part of Raul’s identity is the importance he places on family – whether it be his immediate family or work family. “I try to make sure that I’m there for anyone that may need my help or simply need a word of encouragement,” says Raul. He attributes his success at Gildan to his respect for others, his willingness to learn and adapt, and his optimism.

To learn more about Gildan’s commitment to Diversity, Equity, and Inclusion click here.

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