Tag: 3BL

Sustainable equity funds tend to shy away from sectors and companies that are deemed to be controversial. Yet by targeting challenged sectors with room for improvement and overlooked companies that enable positive change, we think investors can access more diverse sources of return potential in portfolios focused on environmental, social and governance (ESG) issues.

For many ESG-focused investors, buying shares of companies that are good actors seems a natural choice. After all, shouldn’t we reward companies with low CO2 emissions, positive social policies and good governance? By doing so, bad actors will be incentivized to behave better.

When executed properly and backed by a coherent engagement agenda, this strategy is an effective way to support ESG goals and source equity returns. But there’s another road to ESG investing that is much less travelled—and offers access to an entirely different set of companies.

ESG Upgrades Help Support Outperformance

Despite conventional wisdom, we think companies with lower ESG ratings deserve closer attention. That’s because many companies with high ESG ratings can’t realistically improve much more, while lower-rated companies have more room for improvement, which can also support returns.

Our research shows that shares of companies receiving an ESG rating upgrade outperformed the MSCI All Country World Index (ACWI) by 0.36% over the subsequent 12-month period, while those that were downgraded underperformed by 1.33% (Display). In other words, companies likely to see an increase to their ESG rating can be a source of return potential—for investors who can find them.

New academic research supports this approach. Kelly Shue, professor of finance at Yale University, has studied how low-emission “green” firms and high-emission “brown” firms changed their environmental impact given changes in their cost of capital. “What we’ve found is even if it gets easier for these green firms to access capital, their environmental impact barely changes,” Shue said in a Freakonomics Radio podcast entitled “Are ESG Investors Actually Helping the Environment?” “When the cost of capital increases for brown firms, they seem to react by becoming more brown.”

Divesting from brown firms is counterproductive, according to Shue. That’s because a higher cost of capital makes these companies more concerned about short-term survival, so they will be less likely to focus on long-term initiatives to cut emissions. Brown companies often have innovative ideas for reducing emissions—but need capital to implement them.

Which Sectors Reduce Emissions Most?

Not surprisingly, companies with high CO2 emissions are found in sectors such as energy, materials and utilities. Sustainable funds generally avoid these sectors (Display), even though the companies at the heart of the problem are actually part of the solution, in our view. Materials and utilities companies accounted for 84% of emissions reductions among MSCI ACWI companies from 2016 to 2022.

Active equity investors can help support future improvements. By taking a position in a polluting power generator or a high-CO2-emitting chemicals manufacturer, investors also gain an opportunity to influence management. These engagements can help point an ESG laggard in the right direction, by showing how cleaning up their act can benefit the business—and their shareholders.

To find overlooked ESG opportunities, we think investors should look for two types of companies: those with unrecognized ratings upgrades, and neglected enablers.

Looking Ahead—Not Back

ESG ratings are inherently backward looking. They paint an incomplete picture of a company’s ESG credentials because they don’t tell you how a company might be bettering itself. Using fundamental research and deep industry expertise, active investors can identify companies that are on track to deliver positive change before it is reflected in their ratings.

For example, Graphic Packaging of Atlanta, Georgia, had a low-BB ESG rating in 2020, owing to concerns over its heavy water usage and carbon intensity. MSCI has since raised its rating three times to AA and shares of Graphic Packaging have outperformed the market in this period. Investors who identified the company’s potential to improve its ESG record in advance would have benefited.

Maple Leaf Foods, a Canadian producer of animal- and plant-based foods, had a modest A ESG rating in 2020 despite its industry leadership in ethical meat production. Investors who researched the company could have also identified potential improvements in its water-usage and energy efficiency. Following improvements in its water use, MSCI upgraded the company’s ESG rating in August 2021. Engaged investors can aim to promote more improvements in carbon reduction at Maple Leaf’s facilities and other ESG targets for management incentives, which we believe could lead to further rating upgrades.

Supporting Sustainability Behind the Scenes

Some companies that support sustainability simply don’t register on ESG radars. For example, MYR Group, based in Thornton, Colorado, provides construction services for electricity networks and isn’t widely owned by ESG-focused portfolios. Yet in our view, MYR is poised to benefit from the accelerated build-out of wind and solar farms, which will require new grid connections that could boost demand for the company’s services. Similarly, some companies manufacture materials that are essential ingredients in green technologies ranging from electric vehicle batteries to solar panels, which should benefit from increased demand as the global energy transition unfolds.

Diversifying Factor Exposures in ESG-Focused Portfolios

These types of companies can also provide diversification benefits. That’s because many unrecognized improvers and neglected enablers are classified as value stocks, which are underrepresented in sustainable portfolios. Most sustainable and ESG-focused equity funds have a growth-equities tilt. So investors seeking to broaden style diversification in ESG-focused stocks can combine these two approaches and achieve a complementary, more balanced style exposure in their allocations.

Investing in ESG improvers and enablers requires a mindset shift. Simply excluding sectors and companies that produce huge emissions or score low on ESG ratings probably won’t help facilitate the world’s energy transition or other sustainability goals. By developing investment theses that view ESG improvements as central to capturing return potential, investors can find new routes to companies and stocks that can help move the most stubborn needles for a more sustainable future.

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

References to specific securities discussed are not to be considered recommendations by AllianceBernstein L.P.

Learn more about AB’s approach to responsibility here.

This blog was prepared with deep thanks to Cisco employee volunteer Haitham Al-Shabibi.

Climate change is an issue we can’t solve alone, yet it seems like very few of those working to solve it have a big picture view of who is already working on what or where their work fits into the broader solutions landscape. Without a collaborative approach, effectiveness of private philanthropic and impact investment capital is severely limited. Climate funders need transparency, effective tools, and a holistic view of the landscape in order to make better decisions to set high-impact priorities.

The Climate Finance Tracker (CFT) is a suite of visual interfaces engineered by Vibrant Data Labs (VDL), an organization housed in Berkeley, California, that combines data and network theory into flexible tools, to tackle systemic social challenges like climate change. The CFT visualizes climate funding flows to organizations and companies on the ground. What started as a simple United States finance tracker is now poised to scale into Europe, Africa, and Latin America.

In 2021, VDL became a recipient of a grant via Cisco Foundation’s Climate Impact & Regeneration commitment to build out an initial prototype of the CFT. Since launching the CFT fall of 2022 in partnership with One Earth & Impact Alpha, they have been overwhelmed by the positive response. It has led to active collaborations with Climate Policy Initiative, ClimateWorks Foundation, Elemental Excelerator, Forbes, Global Commons Alliance, Summit Impact, and TED.

The partnership between Vibrant Data Labs and Cisco Foundation is built on the shared belief that by building capacity, improving transparency, and supporting funders and decision makers, efforts addressing the climate crisis can be much more effective.

We recently caught up with Eric Berlow, founder of Vibrant Data Labs and co-creator of the CFT, who was awarded an Emerson Collective Climate Fellowship. He shared more about his background, philosophy, and goals.

Can you tell us a bit more about your background?

Eric: Yes, so I have a PhD in marine ecology and in particular I work to understand nature as a complex system. You can’t do that kind of work in nature without being able to deal with noisy data and statistics, so as a result I had to develop a strong background in data science and network theory.

I worked in Yosemite National Park for five years for the University of California running a research institute, trying to bridge science, policy, and natural resource management for evidence-based decision making. We had a big, collaborative project synthesizing satellite and on-the-ground data to predict where threatened amphibian species were breeding. The data helped prioritize where limited park resources should be allocated to protect the species.

How does your background in ecology help inform the CFT?

Eric: Well, that is exactly how the CFT works — we use data to see the big picture and to help prioritize where funding efforts should go, given that resources are limited.

Another way to think about it is: If you map out who eats who in an ecosystem, you have complex flows of energy that comprise an entire food web. Turns out, those network structures are not random. They’re really critical for how those systems persist, and why they don’t crash. Instead of analyzing who eats whom, we’re using the same statistics to analyze who funds whom. Now, we have a funding ecosystem.

My passion over the past decade has been thinking about how ecological theory can inform solutions to complex problems, like climate. It requires a big picture of understanding multiple causality. There is no one silver bullet, there’s no one moon shot.

If you could sum up what the CFT is trying to solve, what would it be?

Eric: The public CFT is a visual Rolodex. It’s about overcoming myopia, which I think is the root cause of so many of those complex problems. But the main goal is to promote discovery and foster collaboration so people can see who’s doing what, avoid duplication, and fill in gaps where funding is missing.

We are also hoping to help people see that the success of an investment is dependent on other investments, too. Let’s say you have great investments with electric vehicles (EVs), but not with chargers or grid upgrades, that investment could fail. It will be critical to fill those gaps.

At the end of the day, we want to make it easy for someone to poke around and paint a picture of where money is flowing in different climate spaces.

You mentioned “silver bullets” and “funding gaps,” can you explain this a bit further?

Eric: Imagine you are in a community that is trying to grow a tree. You know it needs sun, water, nitrogen and phosphorous to grow. If any one of these is missing, it dies. If everybody just gives it water, it dies. Everyone needs to know what that tree is getting, and what is missing. The most important thing to contribute is always whatever is missing.

Here in the US, we have a “silver bullet” mentality, where one thing will solve it. This idea of, ‘Just give the tree water, and it lives’, which isn’t the case. Let’s take the renewable energy and mobility transition. You could have great investments in renewable power generation like solar and electric vehicles. But if you don’t have upgrades in distribution through our aging grid, it doesn’t matter. If you don’t have your charging infrastructure, it won’t work, and those other investments fail.

It wasn’t until pulling together data on who is funding what and where that I realized what a huge opportunity for impact is this issue of filling gaps. If one thing is missing, we fail. If we want to have an impact, we need to find where funding is lacking. And the only way to find those gaps is to see where the money is flowing.

To identify those gaps, you’d have to have tags and categories in the first place, correct? How does that work?

Eric: We currently start with philanthropy and investment data from Candid and Crunchbase (with more on the way!). We then gather, from online sources, more data on how the grantees and investees describe their work. This allows us then — using various methods, including natural language processing and machine learning — to categorize the organizations and let them self-organize into themes — all based around who is working on similar things.

A key challenge has been to develop a method for searching for ‘climate relevant’ investments and grants. To do that we start with broad topic searches — for things like ‘climate’ and ‘agriculture,’ but then we need to filter these results because not all agricultural solutions are climate-positive, or some may mention ‘climate’ but in the wrong context. To do that we manually review a random subset of the results and use that to ‘fine-tune’ a Large Language Model to identify in the remaining results which are actually relevant to climate — for example, companies that are addressing things like regeneration, soil health, and sustainable water usage.

Can you give an example of a helpful action that can be done with CFT data?

Eric: Yes! Let’s stick with food systems and agriculture. If you’re new to the space, the CFT allows you to see who is funding regenerative agriculture. More so, you can use those tags to see who, and what, is being funded. This is how we improve transparency and increase efficiency. If you’re looking for funding — or if you are a funder who is new to a topic — you can quickly see who you should be talking to!

We can also go deeper to see where organizations mention language related to social equity and justice. For example, who states an intent to address energy poverty in low-income and rural communities. We can see financial flows into community-based conservation, restoration of land and community resiliency, equitable resourcing for the clean energy transition, and the intersection of climate solutions with general livelihood improvement.

We can help optimize funding and investments so resources can better flow to high-quality organizations, initiatives, or companies that are traditionally overlooked or underserved by the existing financial system.

Really it just comes down to the fact that engaging communities in the solution is actually the solution. It’s not just a moral thing to do, to improve the livelihoods of vulnerable communities, but it’s how you can truly scale and build out markets. For example, if you support energy independence for everyone, it creates more demand for electric mobility, which creates more demand for charging infrastructure, and so on.

What parting thoughts would you say to people who are interested in the CFT?

Eric: Part of our goal with the CFT was to show that climate solutions are not just solar panels and electric cars, those are just tiny corners of the landscape. If we can move beyond that silver bullet mentality, we can see that there are so many ways to contribute: you don’t need to become an electrical engineer.

We want to change the conversation, bring a positive tone that brings everyone along. There are so many things we can do to help more people. Of course, we’ll have to make sacrifices, but how cool is it that we get to build a whole new world? We get to make a renewable and regenerative transition. And we have to do it together.

It doesn’t matter how well-funded one company is, it will never solve every climate problem.

It doesn’t matter how rich one donor is, they will never solve it alone.

It doesn’t matter how big an investment fund is, it never will work alone.

We need to empower everyone to be part of the solution.

With thanks to Eric Berlow and Vibrant Data Labs for sharing their story with us, we invite you to learn more about the Climate Finance Tracker here!

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As climate change quickens, societal expectations increase and the threat of resistance grows, new crop protection solutions are imperative. Advances in the life sciences and data-driven technologies hold the key to expanding our pipeline and unlocking powerful new possibilities for agriculture.

Listen to farmers – no matter where they are in the world – protecting their crops until harvest from damaging insects, diseases, and weeds is often the toughest part of the job. And this job is getting tougher.

Pests are becoming resistant to the limited crop protection solutions available to farmers, climate change hinders their ability to produce enough to sustain their businesses and ensure the supply of affordable food, while agricultural policy and practices are being driven by consumer expectations towards the food we eat and the health of our planet.

This is not ‘just’ a complex combination of challenges facing farmers, it poses a growing and existential threat to humanity given that crop protection safeguards the equivalent of food for more than 2 billion people. There is therefore an urgent need for new, effective, safe and sustainable crop protection tools.

With our industry leading innovation platform, Bayer has been successful in launching 15 new active ingredients over the last 15 years. Yet essentially, we know that innovation in crop protection needs to undergo a fundamental transformation to ensure farmers can continue to respond quickly and safely to threats to their crops in the long-term.

We need to find a new way.

Our scientists are unlocking the future of sustainable protection using an approach we call CropKey.

Target Based Discovery – Searching for the unique lock 

Crop Protection – like many medicines used to cure disease – works by finding and inhibiting a given protein in the target organism. By inhibiting this one protein, the pest itself can be inhibited. This protein can be thought of as a lock and to safeguard all surrounding biodiversity our scientists need to ensure that no other organism contains this very same lock.

With more scientific understanding than ever before about the makeup of living organisms and their complex biological processes in any given environment, using AI and machine learning – the subset of AI that involves using algorithms to find patterns in data – we can identify the complex interdependencies between a theoretically unlimited number of organisms, singling out unique proteins or “locks” far faster and with greater accuracy than ever before.

Profile Driven Discovery – Designing the perfect key

Until recently, molecules or “keys” from our leading 2.6 million compound library were physically screened and selected according to their potential efficacy as crop protection solutions. They were then tested to ensure their safety and sustainability profiles.

Today our scientists are able to design entirely new and precise “keys”. Using virtual screening we can increase the number of molecules analyzed exponentially. Computational predictive modelling and miniaturized testing – early in-vitro testing on individual cells – then confirms a molecule or “key” will not bind or “fit” to other proteins or “locks” in non-target organisms. Using these same predictive tools, scientists can also ensure other sustainability factors such as degradability of the molecule in the soil, going above and beyond current standards and minimizing all environmental impact.

These data-driven technologies narrow down those molecules with promise of efficacy and eliminate those that do not reach pre-defined safety and sustainability standards far faster and more accurately that previously imaginable. When the perfectly designed key fits the unique lock, our scientists have found a new mode of action.

But not only does this new paradigm in screening and modelling accelerate the discovery of new, effective, safe and sustainable modes of action, it opens whole new horizons as to what is possible; in the past it was laborious to curate, purchase and test thousands of molecules. Today, being able to analyze billions of molecules in a virtual environment using AI allows us to explore new and much larger chemical spaces that ever before.

Producing the Key – Digital Chemistry & AI driven synthesis

But it doesn’t stop there, computational tools are then being used to optimize the design of molecules and find synthesis routes, with AI making proposals as to the best way to create the molecule or – to keep with the analogy – to best produce the physical key. This “best way” includes factors such the environmental footprint or cost of synthesis, for example.

CropKey: Unlocking powerful new possibilities for agriculture

CropKey is Bayer’s bold demonstration as to how we will unlock the future of sustainable protection. Yet it is more than just an approach to innovation – it is producing tangible results which are expanding our pipeline of solutions.

We now have more than 30 potential new molecular targets under investigation in discovery and have validated more than 10 targets as new modes of action in early research, all arising from this breakthrough innovation approach. We have also announced two entirely new modes of action designed using the CropKey approach that are being brought from conception to reality in record time; a unique broad-spectrum fungicide for use in fruit and vegetables and a new herbicide molecule for broadacre post-emergent weed control are expected to reach the market in the next decade.

CropKey designed solutions hold huge potential, but they become even more powerful when combined with a diverse set of tools. Developed to be used together with Bayer’s advanced seed and trait technologies and biological products as part of integrated pest management strategies and applied according to data-driven field insights and with precision technologies, they will meet each farmer’s specific needs and circumstances.

Crop protection is also a key component of agricultural systems based on regenerative agricultural practices such as using no- or reduced-till or cover crops to maximize the carbon sequestered from the atmosphere, increasing the soil’s natural ability to store this carbon, nutrients and water for improved crop performance.

This systems and tailored solutions approach can increase farmer productivity, further minimize the environmental impact of agriculture using CropKey designed solutions that act and are applied in a highly targeted and precise way, while renewing natural ecosystems.

And as our AI tools that design, develop and deliver new crop protection solutions learn alongside us, every generation of solutions will be smarter than the ones that came before, providing farmers with new keys to grow their crops successfully and sustainably.

View original content here.

Originally published by the National Park Foundation (NPF).

The National Park Foundation (NPF)’s ParkVentures program supports organizations that help expand access to national parks for historically excluded communities. In 2022, ParkVentures supported over 55 organizations, including Black People Who Hike, a nature and outdoor advocacy group geared towards getting people of color and Black people in outdoor spaces. Tag along on one of their visits to Acadia National Park.

With funding from the National Park Foundation, made possible in part thanks to NPF’s largest corporate partner Subaru of America, Black People Who Hike led programs in six national parks across the country. Hikes and tours in the parks, led by Black People Who Hike, help foster community and a sense of welcome and belonging in the parks. For some of the program participants, this is the first experience visiting a national park.

AMD recently published our annual Corporate Responsibility Report, marking 28 years of publicly reporting on our efforts and progress. This year, we share updates and progress in our focus areas spanning digital impact; environmental sustainability; supply chain responsibility; and diversity, belonging and inclusion.

Our approach to corporate responsibility has remained fundamentally consistent for almost three decades: we listen to our stakeholders and embrace the business value of corporate responsibility across our products, operations and supply chain.

Engagement is key to driving meaningful change and addressing issues facing our industry and world. We continue to increase the number of employee briefings, customer dialogues and supplier engagements on climate, labor and human rights.

AMD works with industry peers as a founding member and contributor in the new Semiconductor Climate Consortium and with the Responsible Business Alliance (RBA). I’m grateful for the opportunity to engage with industry leaders through my service as vice chair of the RBA Board of Directors with its focus and programs to advance responsibility in supply chains worldwide. We also continue to work with customers, direct manufacturing suppliers and others to address significant sources of GHG emissions.

AMDers around the world are passionate about advancing our impact – from operating responsibly in their daily work and designing products that deliver better energy efficiency to volunteering in our communities and helping inspire the next generation of innovators. As a result, AMD is honored to have received a number of recognitions, including a 2022 SEAL Sustainable Product Award for innovative and impactful products ‘purpose-built’ for a sustainable future in data centers, being named a 100 Best Corporate Citizen by 3BL, and inclusion in the 2022 Human Rights Campaign Corporate Equality Index and Bloomberg Gender-Equality Index. In 2022, the company was again named as a CDP Supplier Engagement Leader for addressing climate risks in the supply chain, which is reserved for the top 8% of reporting companies.

I thank my AMD colleagues for their drive to deliver exceptional semiconductor technologies while pursuing sustainable development for a better future in our world.

Learn more about our corporate responsibility initiatives and progress in our Year in Review and the 2022-23 report here.

SANTA BARBARA, Calif., August 29, 2023 /3BL/ – Direct Relief today announced the recipients of the Innovation Awards in Community Health: Addressing Infectious Disease in Underserved Communities. Grants totaling more than $4.5 million will go to 19 U.S. safety-net community healthcare providers to support innovative approaches to infectious disease treatment, with a focus on vaccine education and delivery.

The recipient programs span 11 U.S. states and serve communities in both urban and rural areas. Direct Relief implements the awards program, which is funded by The Pfizer Foundation, to improve access, increase outreach and education, and promote screening, testing, and treatment for vaccine-preventable infectious diseases among medically underserved populations across the United States.

“These awardees already provide essential health services for their communities, and these funds, generously provided by The Pfizer Foundation, will enable even more innovative work to take place,” said Thomas Tighe, CEO, and President of Direct Relief. “The dedication and commitment of these health providers, who work tirelessly, often with minimal recognition, is inspiring to all of us.”

“As trusted members of their communities, safety-net providers play a crucial role in expanding access to care, particularly in medically underserved communities,” said Caroline Roan, President, The Pfizer Foundation and Chief Sustainability Officer, Pfizer Inc. “We are proud to continue supporting Direct Relief and its network of health centers, which are pioneering innovative approaches to infectious disease care and advancing health equity by dismantling barriers to better health.”

2023 Award Recipients include: 

AHS Health, Chicago, IL, will use the award grant to tackle health disparities through targeted immunization, outreach, and education on COVID-19, hepatitis B, influenza, and other vaccines.C-Assist Family Health Clinic, Garden City, MI, aims to reduce vaccine disparities in marginalized populations, increase vaccine uptake, and raise public awareness through influential messengers and culturally sensitive campaigns.Care for the Homeless, New York, NY, plans to implement The Vaccine Equal Access Project (VEAP) to address and improve vaccination health equity among homeless and unstably housed individuals living in all five NYC boroughs.Clinica Esperanza/Hope Clinic, Providence, RI, will implement Opportune Vacuna, a program that aims to increase vaccine confidence and uptake in historically underserved communities to reduce vaccine-preventable infectious diseases.Community Healthcare Network, New York, NY, will lead a vaccination program for the agency’s HIV population.Community of Hope, Washington, DC, will use award funds to hire a dedicated Clinical Resource Registered Nurse who will provide ongoing education and support for adults in at-risk populations who are missing important immunizations.Through the Sowing Seeds of Good Health program, Connecticut River Valley Farmworker Health Program, Boston, MA will address vaccine hesitancy and misinformation about primary and preventive care for farm workers.Delta Health Center, Mound Bayou, MS, will expand its vaccination program to include flu, pneumococcal, hepatitis, measles, mumps, rubella, rotavirus, chickenpox, diphtheria, Hib, pertussis, tetanus, polio, and COVID-19.Empower U, Miami, FL, will expand its vaccination program, focusing on hepatitis A and B, influenza, and COVID-19 prevention for patients in Liberty City and surrounding areas administered at the clinic and a mobile medical van.Family Christian Health Center, Harvey, IL, will internally educate the community about the impact of flu, shingles, and vaccine-preventable diseases, promoting vaccination to stop the spread and save lives.Housing Works, Brooklyn, NY, will increase access to vaccine-preventable infectious diseases among low-income New Yorkers who face multiple social and structural barriers to preventive health care.Mallory Community Health Center, Lexington, MS, will help educate the under-resourced and uninsured communities and the surrounding areas of Lexington, Mississippi.Miami Beach Community Health Center, Miami, FL, will address influenza and COVID-19 in diverse patients through a comprehensive health equity approach, using motivational interviewing to overcome vaccine reluctance.Rural Health Medical Program, Selma, AL, plans to use outreach, education, mobile clinics, and health navigators to address influenza, pneumococcal disease, hepatitis A and B, sexually transmitted infections, and tuberculosis.SAC Health, Oak Hills, CA, proposes through their program, Strategic Approach to Vaccination Excellence (SAVE), data-driven targeting of parents, guardians and their children for timely child and adolescent immunizations.Shepherd’s Clinic, Baltimore, MD, will launch IGNITE! Fire Up Your Immunity vaccine program to combat preventable diseases with existing services for outreach, education, prevention, and administration.Street Outreach Teams, Detroit, MI, plans to expand mobile operations to care for vulnerable populations, including houseless, mental health, substance use, sex workers, and at-risk individuals.Symba Center, Victorville, CA, aims to reduce vaccine-preventable infectious diseases through outreach, education, and vaccination of the unhoused population in San Bernardino County.Urban Health Plan, Bronx, NY, will provide vaccine education and improve access to screenings, testing, and treatment for those served by the network.

Direct Relief managed the application and selection process in consultation with a panel of infectious disease physicians who provided a clinical review. The finalists were selected based on scores considering geographic location, patient population size and demographics, and facility type.

The Innovation Awards in Community Health program was launched in 2020 and supported projects led by 11 safety-net community healthcare providers. Collectively, over two years, these organizations reached more than 200,000 patients, trained more than 2,000 healthcare workers, and offered life-saving infectious disease care to more than 360,000 children and adults.

About Direct Relief

A humanitarian organization committed to improving the health and lives of people affected by poverty and emergencies, Direct Relief delivers lifesaving medical resources throughout the U.S. and the world to communities in need—without regard to politics, religion, or ability to pay. For more information, visit https://www.DirectRelief.org.

It’s never been more important for businesses to reduce their carbon footprint. To help secure a net zero future, industries across sectors must make deep changes to reduce the impact of their operations.

It’s never been more important for businesses to reduce their carbon footprint. To help secure a net zero future, industries across sectors must make deep changes to reduce the impact of their operations. The heavier the reliance on energy-intensive processes, the greater the potential to play a pivotal role in global decarbonisation efforts. This blog post explains why a critical component in this decarbonisation effort is switching to renewable electricity (RE) in your supply chain, and how to go about achieving this.

Unlocking the power of supply chains 

The Science-Based Targets initiative (SBTi) recently released its guidelines on supply chain engagement, ‘ Unlocking the Power of Supply Chains for Decarbonization‘, which underscore the significance of collaborative efforts between companies and their supply chain partners. To align with these guidelines, the SBTi requires companies to set scope 3 targets. These targets include goals for working with suppliers and reducing emissions, covering at least 67% of all scope 3 emissions together. This requirement applies when such emissions constitute more than 40% of the company’s combined scope 1, scope 2, and scope 3 emissions.

Given the high percentage of scope 3 emissions attributed to electricity consumption, prioritising renewable electricity has the potential to yield substantial carbon emission reductions, which is better for the long-term health of our planet and gives companies a competitive edge and a reputational boost.

Five steps to decarbonise your supply chain by leveraging renewable electricity

1. Data collection and analysis

The journey towards supply chain decarbonisation begins with a comprehensive understanding of energy consumption and its associated carbon emissions (greenhouse gas emissions that are connected to or result from energy consumption within the supply chain). Collaborating with supply chain partners to collect accurate data is often challenging, but it is paramount. This data provides a baseline from which progress can be measured and targets can be set.

It is important to partner with a credible data partner or build a robust internal data system to ensure strong and consistent data collection, and avoid using messy Excel spreadsheets or data that cannot be easily compared between one supply chain partner and another. For companies looking to reflect their supply chain engagement in their scope 3 emission reductions, the lack of primary data is a key challenge for making credible claims. To accurately quantify and validate their supply chain’s contribution to emission reductions, companies must collect data directly from their supply chain partners rather than relying solely on aggregated or estimated data. This ensures transparency, accuracy, and credibility in reporting their environmental initiatives and achievements.

2. Scope 3 strategy development

Armed with accurate data, businesses can develop a robust scope 3 strategy. This involves identifying high-impact areas within your supply chain and setting ambitious yet achievable emission reduction targets.

Renewable electricity sourcing should be integrated as a central pillar within this strategy, and aligning your target and strategy with SBTi criteria ensures that your efforts are science-based and contribute meaningfully to global climate objectives. Along with target setting, crafting a comprehensive supplier engagement programme is an important step in supporting suppliers with meeting their RE sourcing goals.

3. Direct supplier engagement

Engaging supply chain partners is a delicate yet vital step. Collaboration should extend beyond transactional relationships to fostering a shared commitment to sustainability. Companies can provide training materials, workshops, and knowledge-building activities to educate suppliers about the benefits and methods of transitioning to renewable electricity sources. This imparts valuable insights and also demonstrates the commitment of the lead company to supporting its partners’ sustainability journey.

In addition to knowledge transfer activities, companies can also provide technical support to their supply chain partners by working with them to set ambitious yet achievable targets alongside developing a strategy to achieve those goals.

4. Implementation of renewable energy solutions

Pragmatic solutions are key to translating intention into action. Companies can facilitate the adoption of renewable electricity through various avenues:

Purchasing unbundled Energy Attribute Certificates (EACs): EACs typically represent 1 MWh of renewable electricity generation. Purchasing unbundled EACs allows companies to support renewable energy projects indirectly and reduce their own scope 2 emissions.Corporate Power Purchase Agreements (PPAs): PPAs enable companies to purchase renewable electricity directly from generators, often at competitive prices.Onsite generation: Some companies opt to generate renewable electricity on their premises by means of solar panels, wind turbines, or other renewable technologies.Green tariffs: Some companies choose a green tariff, which is typically a bundled EAC product provided by a local power utility or retailer.

5. Track progress using reliable data

Tracking progress accurately and transparently is crucial to validating the effectiveness of your supply chain decarbonization efforts. Companies should establish robust monitoring and reporting mechanisms that capture renewable electricity consumption, achieved emission reductions, and overall sustainability performance. This data not only informs decision-making but also enhances your accountability and improves stakeholder trust.

Setting a powerful example of industry leadership

The SBTi guidelines sound an urgent call to action for all sectors to decarbonise their supply chain. Renewable electricity stands as the linchpin in this endeavor, serving as a potent tool to reduce carbon emissions and advance sustainability goals, while also offering net savings and a positive return on investment. By aligning with the SBTi guidelines on supply chain engagement and following the key steps outlined above, businesses can pave the way toward a greener, more resilient future. As the world navigates a series of complex environmental challenges, the proactive adoption of renewable electricity sets a powerful example of industry leadership and responsibility.

Originally published in Enbridge’s 2022 Sustainability Report

Keeping teams safe through every day 
Our mission is fueling quality of life, and operating safely is essential to that work. It’s our duty to keep the public, the members of our team and the environment safe. Safety is one of Enbridge’s four core values, and performance metrics related to safety are tied to each Enbridge employee’s incentive compensation.

2022 highlights 
In 2022 our performance was on par with the record-setting result in 2021, contributing to a 23% improvement in employee and contractor injuries over a three-year average, and moving us closer to our goal of zero injuries. This year, we streamlined and simplified our safety training tools and systems, with the goal of making them even clearer and more effective. Both our safety management and our environment programs underwent review and improvement. We also implemented a Supplier and Contractor Safety Management Specification to streamline and improve our processes for contractor selection, and spent more time in the field verifying the effectiveness of our contractor management processes. We also continue to shift our safety learning culture toward on-the-job and apprenticeshipbased qualifications. We believe these experiential approaches are important complements to traditional course-based learning, supporting knowledge retention and mobilization.

We also revised our incident investigation approach, making it even more thorough—and intensifying our focus on prevention by devoting increased attention to studying potential events, or near misses. We share and discuss incident (and near-incident) case studies, highlighting all the factors that played a role in the events, including human factors that can contribute to elevated risks even when everyone believes they’re being safe.

To reinforce and model Enbridge’s commitment to worker and contractor safety, we made special efforts in 2022 to have leaders present and visible in the field and at project sites. After two years during which COVID-19 restrictions limited our ability to be physically present in many contexts, we were determined to emphasize leadership visibility—demonstrating in tangible ways that safety is the top priority at every level of our organization. This practice had benefits in both directions: leaders were able to identify new opportunities for learning and for further enhancing safety practices, while staff were reassured by seeing engaged, safety-focused leaders on the ground.

As we pursue growth across our business, we also work to ensure that strong safety and reliability practices are integrated and scaled with every step we take. We’ve begun to embed safety and reliability requirements into our contracts, ensuring that new ownership and operating agreements express clear expectations in keeping with the rigorous standards we apply to existing assets and processes. Safety and reliability are also integrated into our due diligence processes for acquisitions and joint ventures. Whenever we consider a potential new investment, we carry out dedicated analysis to ensure that it meets or can be enhanced to meet our safety standards.

Our ESG goals 
10% improvement in employee and contractor injuries over three-year average

Over 23% improvement in both employee and contractor TRIF over three-year average

Learn more Management approach: Health and safety

After record-setting safety performance the previous year, Enbridge maintained this strong safety standard in 2022, remaining at record lows. For additional safety metrics and performance, see our 2022 ESG Datasheet.

Enbridge’s six safety principles

All injuries, incidents and occupational illnesses can be prevented.All operating exposures can be controlled.Leaders are accountable for safety performance.All employees and contractors are responsible for safety.Assessment and improvement are a must.We promote off-the-job health and safety for our employees 24/7.

[1] Bureau of Labor Statistics (BLS) benchmarks lag a year based on industry data availability

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PHILADELPHIA, August 28, 2023 /3BL/ – Truist Foundation announced a $1.2 million grant to National Association for Latino Community Asset Builders (NALCAB), a national network of more than 200 nonprofit organizations and a community development financial institution (CDFI) dedicated to advancing economic mobility. With the grant funds, NALCAB will bolster the capacity of its network members by connecting them to public policy advocacy resources and technical assistance that will help them directly access or prepare to access federal funding opportunities.

As part of this effort, NALCAB will offer curriculum for its CDFI certification program, help members apply for federal programs, support members in identifying their ability and readiness to apply for CDFI certification, and provide subgrants to organizations for their capacity-building efforts.

“CDFIs are proximate to the challenges many small business owners and entrepreneurs face, and as a result of supporting CDFIs, underserved communities experience economic growth and greater access to job opportunities,” said Lynette Bell, president of Truist Foundation. “Truist Foundation is proud to be partnering with an organization like NALCAB that is devoted to uplifting communities and businesses that face barriers to financing.” 

During an event late last week, Truist Financial Chairman and CEO Bill Rogers joined NALCAB Director of Resource Development Alejandra Amaroli, as well as leaders from NALCAB member organizations Norris Square Community Alliance and Greenline Access Capital, to formally announce the grant and to explore the impact of this work.

“NALCAB is so grateful for Truist Foundation’s generous gift and its commitment to helping Latino-led and Latino-serving nonprofit organizations to access federal funding opportunities,” said Marla Bilonick, president and CEO of NALCAB. “Through our CDFI-certification program and expanded capacity building support, our nonprofit members will be able to achieve greater community economic impact in Philadelphia and beyond.”

NALCAB has a strong track record of partnering with national and regional organizations to pursue more positive economic policies and impacts. The NALCAB Network deployed more than $240 million in federal funding to stabilize neighborhoods and support affordable housing after the Great Recession, which resulted in more than $90 million in investments in businesses and commercial projects.

About NALCAB 

The National Association for Latino Community Asset Builders (NALCAB) is the hub of a national network of 200+ member organizations that are anchor institutions in geographically and ethnically diverse Latino communities in 46 states, Washington DC and Puerto Rico. NALCAB supports its member institutions through funding, training, research and advocacy, enabling them to invest in their communities by building affordable housing, ensuring equitable neighborhood development, supporting small business growth, and providing financial counseling on issues including credit building and homeownership. As a grant maker and US Treasury certified CDFI lender with offices in San Antonio and Washington DC, the NALCAB Network serves hundreds of thousands of low- to moderate-income people, advancing economic equity and inclusivity in the communities we serve.

About Truist Foundation

Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation’s grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at Truist.com/Foundation.

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Energized by Edison

California State University, Dominguez Hills is on a mission — slashing greenhouse gas emissions and emerging as a national energy-efficiency and sustainability leader among urban, minority-serving higher education institutions.

The campus in Carson, Calif., a few miles south of Los Angeles, has saved more than 40,000 metric tons of carbon since 2019 by electrifying buildings, adding renewable energy and implementing retrofits supported through Southern California Edison’s Clean Energy Optimization Pilot.

The emissions reductions earned CSU Dominguez Hills a record rebate of more than $2.4 million for year two of the pilot; the university has received nearly $3.6 million in performance payouts from SCE since 2019.

“Sustainability and equitable stewardship of our natural, social and economic resources are part of the university’s core values and commitment to reduce our carbon footprint,” CSU Dominguez Hills President Thomas A. Parham said at a check presentation ceremony earlier this month.

“We welcome the partnership with SCE and these additional resources, which will enable us to continue investing in the green infrastructure our campus community wants and deserves.”

Incentivized by the Clean Energy Optimization Pilot — paused for a year during the COVID-19 pandemic — the university has lowered GHG emissions by an astounding 50% compared to 2019.

“CSU Dominguez Hills is a decarbonization leader,” said Lisa Hannaman, SCE senior account manager. “Their accomplishments are a model for other customers — they’ve been a true partner to SCE, and we commend their commitment to a clean energy future.”

A crucial part of that leadership has been total buy-in from campus stakeholders for the changes needed to make a difference.

CSU Dominguez Hills replaced the gas-fired absorption chillers used to cool water for its air conditioning system with energy-efficient electric versions, added a 4 MW/hour battery, installed rooftop solar panels and upgraded building lighting sensors with smart controls.

They also automated the large HVAC economizers that evaluate outside air temperature and humidity levels — and, when conditions are optimal, circulate that air to cool buildings.

“With automated economizers, we can shut off the chilled water altogether when outside temps are in the 60s or 70s — that saves a huge amount of energy,” CSU Dominguez Hills Energy Manager Kenny Seeton said.

“The smart technology also allows us to run Demand Response programs, light and cool only occupied building zones, and do it all from our tablets — and those are just the big steps. We’re looking at everything, and the proof is in the utility meter.”

Last year, Seeton gave SCE President and CEO Steve Powell a first-hand look at the university’s major energy efficiency projects.

CSU Dominguez Hills’ numbers topped the Clean Energy Optimization Pilot rankings.

The pilot is a four-year, first-of-its-kind incentive program that gives partnering California State University and University of California campuses performance payments to take sustainable GHG emissions reduction steps.

Along with CSU Dominguez Hills, California State Polytechnic University, Pomona and five UC campuses and medical centers are pilot participants. The seven institutions together have saved more than 145,000 metric tons of carbon and earned more than $12.8 million in payouts since 2019.

“If we let folks know what these universities have achieved through this program, others will follow,” state Sen. Steven Bradford said. “My job is to take this back to Sacramento and show my colleagues it works,” said Bradford, who attended the ceremony and chairs the Senate Energy Committee in the California Legislature.

CSU Dominguez Hills has been recognized nationally and statewide for its energy-saving and sustainability initiatives and has received numerous best practice awards; 77% of the students are from underrepresented groups, and two-thirds are eligible for federal Pell Grants.

Urban, minority-serving institutions and underserved communities are often overlooked as sustainability leaders in higher education, according to CSU Dominguez Hills Sustainability Manager Ellie Perry.

None of this is lost on Dr. Parham and his team.

“We want to be the nation’s model urban university,” he said. “Most people don’t associate clean energy and sustainability with minority communities or institutions — we aim to change that.”