Two weeks ago we wrote that the U.S. sustainability agenda is decentralizing — moving from Washington to courtrooms, statehouses, and corporate boardrooms. This issue’s Top Stories make the case even harder to ignore. The federal government took what may be its most sweeping climate rollback yet, and within days the response came from every direction: a major state legislature, a coalition of health and environmental organizations, and Republican attorneys general staking out their own ground on corporate sustainability. The common thread isn’t partisan — it’s jurisdictional. The question is no longer whether climate policy moves forward, but who gets to set the terms.

On February 12, the Trump administration repealed the EPA’s 2009 endangerment finding — the legal determination that greenhouse gases threaten public health and welfare. For 17 years this finding was the foundation for virtually every federal climate regulation under the Clean Air Act. 

As reported by Sustainability Online, less than a week later a broad coalition — including the American Lung Association, Sierra Club, NRDC, Environmental Defense Fund, and Physicians for Social Responsibility — filed suit in the D.C. Circuit, arguing the repeal violates the Clean Air Act and ignores nearly two decades of strengthening scientific evidence. This case will almost certainly define the boundaries of federal climate authority for years to come — and some observers believe the administration may be deliberately seeking a Supreme Court showdown.

Meanwhile, ESG Today reported that the New York State Senate passed the Climate Corporate Data Accountability Act on a 40-22 vote. The Act, modeled closely on California’s SB 253 bill, will requires companies with more than $1 billion in revenue to report Scope 1, 2, and 3 greenhouse gas emissions annually. The bill now moves to the Assembly and Governor Hochul’s desk. The timing matters: the EPA proposed ending its own federal Greenhouse Gas Reporting Program just months ago, and New York is stepping directly into that gap. If signed, it would make New York the second state to mandate comprehensive corporate emissions disclosure, reinforcing a pattern we flagged last issue — when federal action retreats, state-level action accelerates.

Not all state-level action is pushing in the same direction. ESG Today reports that a coalition of ten Republican attorneys general, led by Florida’s James Uthmeier, sent letters to nearly 80 companies warning that participation in sustainable packaging groups — including the U.S. Plastics Pact and the Sustainable Packaging Coalition — could expose them to antitrust liability. Legal scholars dispute this, and the targeted organizations say their activities, which include developing standards for sustainable packaging, are lawful.

Regardless of the political crosswinds, Extended Producer Responsibility (EPR) packaging compliance is already the law in multiple states — and the operational demands are real. Also in our Top Stories, G&A Institute’s latest blog walks companies through the practical steps of preparing packaging data for EPR reporting, building on our recent resource paper examining the rapid expansion of EPR legislation nationwide. For companies placing packaged goods on the U.S. market, this is no longer a future risk — it’s a current obligation.

The short-term story this week is messy and more complex than a simple rollback narrative. Federal climate authority is being challenged in court, some states are writing their own climate disclosure rules, and other states are trying to penalize companies for voluntarily pursuing sustainability goals. The G&A team continues to closely track these developments, along with international news from ISO’s new global climate adaptation standard to the EU’s evolving CSRD framework. We are available to work with you to develop and implement sustainability reporting programs that will stand the test of time. Reach out to us at info@ga-institute.com.

This is just the introduction of G&A’s Sustainability Highlights newsletter this week. Click here to view the full issue

Bob Herr| Director of Corporate Governance

What you need to know

The agenda is being reset for US shareholder meetings in 2026. Regulatory shifts have led to a steep decline in overall shareholder proposals while governance issues are becoming the biggest battleground. As companies gain new power to block shareholder proposals, investors may turn to other routes to make their voices heard. Research-driven independence and a focus on governance fundamentals can guide investors through a changing environment.

• –36% decline in total shareholder proposals for S&P 1500 companies in 2025
• 41% rate of support for shareholder proposals on governance issues in 2025
• 14% rate of support for shareholder proposals on environmental and social issues in 2025

Change is in the air as the 2026 US proxy voting season begins. Regulatory shifts and new voting dynamics will challenge investment firms to remain principled in their approach to stewardship.

The proxy pendulum is swinging. After several years in which environmental and social issues gained prominence, governance matters such as director elections and executive compensation have reentered the spotlight.

This year, ballots will be cast amid significant regulatory and legal moves. Proxy advisory firms are under intense scrutiny while state and federal laws and enforcement actions have added layers of complexity to governance decision making. We believe investment firms should enter proxy season with eyes wide open: aware of what’s changing yet guided by a materiality-based framework to vote independently with conviction.

Regulatory and Legal Landscape Is Evolving

From 2020 to 2024, the number of shareholder proposals increased steadily, fueled by growing interest in the ‘E’ and ‘S’ issues of the environment, social and governance (ESG) mix. This year’s proxy season begins after a whirlwind 2025, driven by a series of moves impacting shareholder proposals.

Perhaps the most significant regulatory move will empower companies to have more control of the agenda. During 2025, the US Securities and Exchange Commission (SEC) issued new guidance and decisions that alter the dynamics of the proxy voting process. First, the SEC said it would allow issuers to more easily exclude shareholder proposals—including those in the “ordinary business” bucket. In other words, if a company says a certain shareholder proposal is really a matter of day-to-day business, it will have much more latitude to exclude it from the agenda.
oward year end, the SEC expanded that guidance, and now it may decline to express a view on certain no-action requests. As a result, it has effectively left it to companies to determine whether to exclude a proposal.

Shareholder proponents may be further constrained by another recent regulatory shift. In January, the SEC narrowed the use of exempt solicitation filings, saying it will no longer accept voluntary filings from shareholders with less than $5 million ownership. This will make it harder for smaller proponents to post supporting materials on EDGAR, limiting a channel often used to amplify arguments behind shareholder proposals or to organize vote‑no campaigns. We expect this change to reduce the volume of publicly filed support materials in proxy season and to dampen vote‑no campaign activity. Proponents may increasingly turn to press outreach and direct engagement with investors, raising cost and coordination hurdles required to be heard.

Companies may also benefit from technical adjustments designed to boost retail voting participation. For example, the SEC allowed ExxonMobil to implement a voluntary program enabling retail investors to opt into automatic proxy voting aligned with management recommendations, which has the potential to bolster management support.

Advisory Firms Under Pressure

Meanwhile, enhanced scrutiny on proxy advisory firms is in full swing. Regulators and lawmakers are investigating firms like Institutional Shareholder Services (ISS) and Glass Lewis over potential conflicts of interest, particularly regarding ESG issues. Attorneys general in Florida, Mississippi and Missouri have led the charge, while Texas has introduced new disclosure requirements for advisory firms and is stepping up oversight and enforcement. President Trump, too, issued an executive order to federal agencies, including the SEC and the Federal Trade Commission, to reevaluate regulatory treatment of proxy advisory firms and market practices.

In response, some large firms have stopped using third-party advisors for US proxy research, opting for alternatives including AI-based solutions. Proxy advisory firms are adapting by offering more customized research options, while new entrants are challenging the dominance of established players.

Shareholder Proposals Go Back to Governance Basics

These dynamics have already prompted shifts in voting trends, which are likely to continue in 2026.

Fewer shareholder proposals reached ballots in 2025, and average support levels declined across major categories. The number of proposals dropped by 36% to 295 across topics, with governance accounting for nearly half of all issues (Display). Governance proposals received 41% support on average—eclipsing support for environmental and social proposals.

It’s true that support for environmental and social proposals has been declining for several years. Now, lower expectations for these initiatives to succeed—along with lower barriers for management to exclude proposals—may discourage proponents from raising them in the first place. In cases where companies face significant environmental and social controversies, we expect shareholders to start exploring other avenues to affect change, for example, through director election votes.

Governance Fundamentals in Focus

Corporate governance doesn’t typically grab headlines. Yet these issues—from board composition and independence to responsiveness to shareholders—are at the heart of how businesses run and can have a material impact on companies’ financial performance.

Director elections, for example, are a powerful tool for investors to weigh in on ineffective boards. In our experience, shares of US companies with boards that we’ve supported have outperformed firms that didn’t meet our governance expectations.

On the governance menu, executive compensation will remain a hot topic. Median total compensation for S&P 500 CEOs reached $17 million in 2024, representing a 5% increase over the prior year, according to Pay Governance. This growth was primarily driven by larger long-term equity grants, which were buoyed by strong equity performance during the period.

The tech titans have been in the compensation spotlight since Tesla awarded unprecedented pay packages to Elon Musk in 2018 and 2025; both were large long-term equity grants with ambitious performance hurdles. We anticipate an increase in these types of CEO packages, which may appear on proxy ballots more frequently in the future.

Beyond the high-profile compensation stories, we expect an increased focused on core governance issues such as board accountability and risk oversight. For example, “common sense” governance proposals are rising, including simple majority vote requirements, the right to call special meetings and board declassification. Proposals like these passed most often in 2025, signaling continued investor support for improved shareholder accountability despite elevated scrutiny of ESG practices.

AB’s Proxy Voting Principles: Materiality and Independence

While the industry grapples with multiple transitions, we believe that our longstanding proxy voting framework continues to provide a strategic path forward. Our approach focuses on issues that are material to business and investors, backed by a willingness to vote independently.

Maximizing shareholder value is the primary goal of our votes. That’s why our positions are rooted in thorough research and engagement, designed to fully understand the material impact of any proposal on a company’s business—and our clients.*

Translating those positions into effective votes demands independence.

In 2025, we voted against management at least once in 57% of shareholder meetings in which we participated (Display). We also voted contrary to ISS recommendations in 45% of meetings.

We stood against management proposals on director elections and compensation 20% and 17% of the time, respectively (Display). And we voted in support of approximately 36% of all shareholder proposals.

AB’s investment stewardship approach is rooted in a partnership with our sector analysts and portfolio managers, which enables us to take industry—and company specific considerations into account to make more informed voting decisions. For example, in the healthcare sector, we’ve found that sound compensation practices can make a meaningful difference to long-term investor outcomes.

Shaping the Norms of Responsible Stewardship

As the 2026 proxy season unfolds, investment firms have a responsibility to lead with clarity and a disciplined focus on what drives long‑term value. While the regulatory environment may generate headlines and can be confusing for investors, we think the renewed focus on governance will provide shareholders with ample opportunities to weigh in on an array of issues that can materially affect business success and shareholder outcomes.

Entering the season with well‑defined principles, rigorous research and a readiness to vote independently of management or proxy advisors will be essential—especially as governance issues become the primary arena for impact.

Landon Shea, Investment Stewardship Associate and Research Lead, and Cole Moore, Investment Stewardship Analyst and Engagement Lead, were instrumental in the research supporting this blog.

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

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

Learn more about AB’s approach to responsibility here.  

On February 5th, we proudly celebrated the Grand Opening of Alta Vista at St. Joseph’s Park in Rochester, NY, alongside our dedicated colleagues, development partners, local officials, and community leaders. This milestone reflects CVS Health’s commitment to expanding access to safe, affordable housing and strengthening the long-term health and stability of the communities we serve.

Alta Vista delivers 76 affordable units serving households earning 30%, 50%, 60%, and 70% of AMI, including 14 ESSHI units reserved under New York’s Empire State Supportive Housing Initiative for individuals experiencing homelessness with serious mental illness, substance use disorders, or survivors of domestic violence. Many of you joined the groundbreaking in April 2024, and it was inspiring to reunite at this next step in this community’s journey.

Developed in partnership with Ibero-American Development Corp. and Edgemere Development, Inc., Alta Vista is a thoughtfully designed, energy‑efficient, six‑story building that features modern apartments with luxury vinyl flooring, air conditioning, dishwashers, and generous storage space. The community includes a business center, community room, fitness center, on-site laundry, playground, on‑site parking, and free Wi‑Fi in common areas to support work, education, and family needs.

As part of Rochester’s Downtown Revitalization Initiative, Alta Vista transforms an underutilized urban area into a thriving, equitable neighborhood. Its location adjacent to St. Joseph’s Park, a cherished landmark known for its preserved church façade, reflects the spirit of new beginnings, stability, and upward mobility for Rochester families.

Supportive services for the ESSHI units will be provided by the YWCA of Rochester and Monroe County, an organization with over 130 years of experience serving women and families through housing stabilization, employment support, case management, and programming designed to help residents achieve long‑term independence.

Thank you to Tom Allen, Vice President, Sales and Client Management, Aetna, a CVS Health company, for representing our organization at the event. We are truly grateful for your leadership and support. And to our colleagues, Marta Corts, Maritsa Santana Ruiz, John White, and Doug Robertson, your help and participation made a meaningful difference.

Thank you as well to everyone who joined us in this celebration. We truly value moments like this and are grateful for all who played a role in bringing the Grand Opening to life. This milestone is a testament to the steadfast dedication and teamwork of colleagues across CVS Health and Aetna.

Learn more about how CVS Health improves the health of the communities it serves.

Read about the Grand Opening here:

• Spectrum News Rochester: New downtown Rochester affordable housing project completed
• WHAM 13 News: New Alta Vista development brings 76 energy-efficient apartments and new amenities
• News10: New all-electric affordable housing complex opens in Rochester, aiming to reduce carbon footprint – WHEC.com
• Rochester Business Journal: IADC’s Alta Vista project adds housing in downtown Rochester
• Yahoo News: Rochester gathers for Alta Vista affordable housing ribbon-cutting ceremony
• Governor’s Press Release: Governor Hochul Announces Completion of $35M Affordable and Supportive Housing Development in Downtown Rochester | Homes and Community Renewal

WASHINGTON, March 2, 2026 /3BL/ – Women feed the world, yet discrimination against women in farming is still a stark reality. They typically earn less, have limited access to financing and miss out on education and training.

Despite producing an estimated 60-80% of the world’s food, women in agricultural communities face power imbalances that hold them back. This is especially true for those living in tropical growing zones around the equator where economies rely on small-scale, or smallholder, commodity production. They often:

• Don’t have control of the money they earn
• Don’t own land or crops
• Have less access to education, training, or supplies
• Are discriminated against when applying for credit

When we invest in women, everyone wins. That’s why Fairtrade America is joining the U.N. Food and Agriculture’s global campaign, the International Year of the Woman Farmer, to help spotlight the essential roles women play in food systems – from production to trade – that often go unrecognized.

Fairtrade is celebrating 15 woman farmers who are key agents of change in their communities and calling on American businesses to partner with Fairtrade America so that more woman farmers can benefit from fairer international trade partnerships.

Meet the Farmers

• Agnes Senesie grows cocoa in Sierra Leone
• Assata Doumbia grows cocoa in Côte d’Ivoire
• Eugénie Lago grows cocoa in Côte d’Ivoire
• Sarah Larweh grows cocoa in Ghana
• Carlixta Contreras Martínez grows cocoa in the Dominican Republic
• Ibu Rahmah grows coffee in Indonesia
• Natividad Vallejos grows coffee in Peru
• Salamatu Katta grows cocoa in Sierra Leone
• Joselinda Manueles grows coffee in Honduras
• Rajana Maurya grows organic Tulsi (Holy Basil) in India
• Rosine Bekoin grows cocoa in Côte d’Ivoire
• Mariana Cobos grows bananas in Ecuador
• Aminata Sannoh grows cocoa in Sierra Leone
• Marie Ronette Botramisy grows organic vanilla in Madagascar
• Carmen Mueses grows cocoa in the Dominican Republic

These inspiring women care for their land, run their businesses, are mothers or matriarchs, and take on many other responsibilities in service of their communities. About half of them currently serve—or have served—in leadership roles within their cooperatives. They sit on boards, lead women’s associations, and some have even founded cooperatives or served as presidents. Their stories show the strength and resilience of women farmers around the world.

International trade partnerships must be rooted in mutual respect, instead of extraction and exploitation. Fairtrade brings together businesses, shoppers, farmers, and workers to bring fairer partnerships to reality and build supply chains that work for everyone. Fairtrade addresses exploitation and gender inequities in supply chains through:

Fairtrade Standards

Our standards actively prevent gender-based discrimination and promote women’s participation in leadership and decision-making. When women have a voice, they help shape their own futures.

Women’s School of Leadership

Through our Women’s School of Leadership, we support female leaders in producer organizations to strengthen skills in business, negotiation, and finance, building confidence and economic independence.

Fairtrade Premium

Many Fairtrade Premium projects directly benefit women, improving economic opportunities and influencing decision-making structures within producer organizations.

If you represent a U.S.-based business that is interested in joining the global movement towards fairer, more equitable trade by sourcing from Fairtrade farmers, including the admirable women farmers listed above, please reach out to questions@fairtradeamerica.org or fill out our “Get Started” form.

###

Editors Notes

• The woman farmers listed above were also recognized as part of Fairtrade America’s annual Fairtrade Month campaign, which has been implemented every October since 2020.
• Photos and videos are available upon request.

About Fairtrade America

Fairtrade America works to rebalance trade, making it a system rooted in partnership and mutual respect rather than exploitation. It’s about businesses, shoppers, farmers and workers all working together so we can all experience the benefits of trade. Fairtrade America is the U.S. branch of Fairtrade International, the original and global leader in fair trade certification with more than 30 years of experience working for fair trading practices in more than 60 countries across the globe. A non-profit 501(c)3 organization, Fairtrade America is part of the world’s largest and most recognized fair trade certification program —part of a global movement for change. Learn more at fairtrade.net, and by connecting with Fairtrade America on Facebook, Instagram and LinkedIn.

Media Contact

Liz Davis, ldavis@fairtradeamerica.org | +1 202-930-4349

AXS EXPANDS TICKETS FOR GOOD PARTNERSHIP TO THE UK, ENABLING MORE COMMUNITY ACCESS TO LIVE EVENTS

• Following successful U.S. rollout, API integration launches in UK for AXS shows
• Recipients include NHS workers, teachers, charity workers, volunteers and people most affected by the Cost of Living
• Globally, TfG has distributed 1 million+ discounted tickets with live event partners and artists including Dua Lipa, Idles, Robbie Williams, Yungblud

SHEFFIELD, England and LOS ANGELES, February 27, 2026 /3BL/ – AXS, a trusted leader in advanced ticketing and live event technology, and Tickets for Good (TfG), the mission-driven ticket distribution platform for live events, have announced the launch of their collaborative API integration in the UK, enabling AXS clients to easily allocate ticket inventory to TfG members – including healthcare workers, teachers, charity workers, volunteers, and others who play vital roles in their communities.

Connecting directly to the Tickets for Good platform and its 620k verified global members, AXS-partnered UK venues, promoters, and artist management teams can seamlessly provide access to the joy of live events for TfG audiences, encompassing NHS workers, teachers, charity workers, volunteers, and people affected by the Cost of Living crisis, while also developing audiences, filling venues, and increasing social impact.

Now available in the UK following a U.S. rollout – with Germany set to launch later in 2026 – this integration enables tickets to be offered with full control retained by promoters over pricing, volumes, and eligibility windows.

Peter Quinlan, Managing Director, Europe, AXS, says: “Launching our collaboration with Tickets for Good in the UK allows our partners to turn unused inventory into meaningful experiences, and we’re proud to help create access for those who already give so much back to our communities. It’s a powerful example of how smart technology can drive both social impact and stronger, more inclusive audiences.”

Steve Rimmer, Founder and CEO of Tickets for Good, comments: “By combining our mission-driven platform with AXS’s reach and flexibility across iconic events, we’re turning great intentions into great experiences. With more of the UK entertainment industry coming on board, we’re building a seamless, tech-enabled pathway that connects thousands of Tickets for Good members with the live events they love.”

TfG has distributed over 1 million tickets across the UK, in partnership with leading ticket retailers, alongside more than 1k event organisers spanning music, theatre, and sport. The platform verifies eligible members and provides a trusted, closed-network environment for event partners to fill venues, grow audiences, and give back to communities.

Following strong growth in the UK and recent expansion into the United States and mainland Europe, Tickets for Good continues work with leading industry partners and investors committed to combining social impact with commercial success. Highlights from 2025 include:

• Selection for the BPI Innovation and Department for Business and Trade ‘Music Mission to Japan’, participation in their UK House music tech event at SXSW London.
• Completing a series of successful pilot events for TfG Belgium with full roll-out in Belgium and Germany coming in 2026 Q1.
• Announcing the appointment of Derek DeVeaux as Global Chief Operating Officer, along with new appointments to its UK office and promotions to global roles.
• New and returning music-related event partners joining, including Melody Garden, Phoenix Arts Club, Pixies, Robbie Williams, Sherelle, The Roundhouse, The Sun Festival, and Yungblud.
• TfG Netherlands launched with ambassador Robbie Williams, joined by new TfG ambassador and football legend Edwin van der Sar. Watch the launch video on LinkedIn.
• UK Government Ministerial Round Table discussion on secondary ticketing participation with Ministers Madders and Minister Bryant, and the Departments for Culture, Media and Sport, Business and Trade.
• UK Business and Trade for North America spotlight interview, in association with the Department for Business and Trade.

About AXS
AXS is a trusted leader in advanced ticketing and live event technology, providing access to some of the world’s most iconic venues, sports teams, festivals, and global tours. With customised ticketing solutions, innovative technology, and dedicated customer service, AXS partners with over 1,600 of the most recognised brands in sports and entertainment — including the LA28 Olympic & Paralympic Games, Coachella Valley Music and Arts Festival, Red Rocks Amphitheatre, The O2 Arena, BNP Paribas Open, WM Phoenix Open, and Stagecoach Country Music Festival. AXS’s primary and secondary marketplaces and its proprietary AXS Mobile ID technology deliver the easiest and most secure way for fans to buy, sell, and manage tickets.

About Tickets for Good
Founded in 2019 in Sheffield, England, Tickets for Good (TfG) provides free and heavily discounted tickets to live events, theatre shows, comedy, festivals, and attractions for those doing great things in the community. The platform is open to healthcare staff, charity workers, teachers, and individuals receiving U.K. Government Cost of Living payments, with its registered users now over 600k and 1m tickets processed. The organisation’s core values are rooted in building community, creating measurable impact, and fostering inclusivity, all while maximising access to otherwise unused event tickets for social good. TfG is now used by every major promoter in the U.K. and many across the EU and U.S. markets. The closed-network platform works with top event organisers and supporters, including Comcast SportsTech and Robbie Williams.

With formal recognition from music and tech industries growing, notable Tickets for Good milestones and accolades include:

• 2020 Tech For Good company – Bethnal Green Ventures accelerator programme.
• 2022 winner – TheTicketingBusiness Impact Award – TfG NHS Platform.
• 2023 Comcast NBCUniversal SportsTech Accelerator Programme.
• 2023 winner – Wallifornia Music and Innovation Summit – Startup of the Year.
• 2023 Prolific North – Tech Companies to Watch.
• 2023 winner – Music Ally SI:X – category and overall startup contest.
• 2024 BPI Grow Music inaugural graduating cohort x London & Partners, Abbey Road REDD, Anthony David King.
• 2024 Amsterdam Dance Event – Startups Programme cohort.
• 2025 UK Government Ministerial Round Table discussion on secondary ticketing participation with Ministers Madders and Minister Bryant, and the Departments for Culture, Media and Sport, Business and Trade.
• 2025 UK Business and Trade for North America spotlight interview, in association with the Department for Business and Trade.

Leadership stories are often told as straight lines: clear goals, deliberate moves, steady climbs. But many leaders don’t follow a blueprint — they grow into leadership by showing up, contributing and letting their impact speak for itself.

Two members of Tapestry’s Black Alliance Employee Business Resource Group (EBRG) are doing just that.

“It wasn’t my plan to come in [to the Black Alliance ERBG] at the lowest level and find my way to the top,” says Jason Livingston, Manager of Procurement and Vendor Engagement at Tapestry.

When first becoming involved with the EBRG group, Livingston says his thinking was only, “I like what’s going on here, I like what they’re trying to build, I want to participate. My journey [into the co-lead role] has been one of availability.”

Livingston first stepped into the group by volunteering as a marketing coordinator, segueing into philanthropy, and as he tells it, “Someone left, so I got elevated from coordinator to co-lead because someone said, ‘Jason can do it.’”

As much as he downplays it, Livingston’s work in Black Alliance is a natural fit. Not only is it an extension of his full-time role helping to connect Tapestry with varied vendors, but it also allows him to follow his personal interests through experiences and events while connecting with others.

The Black Alliance’s “Bookish Book Club for instance — I was already reading Black authors and content related to the Black community. The only difference is that now I’m talking to people in the community about what I’m reading,” Livingston says. “I was already going to museums and Black History Month cultural events, now I do it with my Tapestry community.”

The Bookish Book Club is just one of the events the EBRG hosted in honor of Black History Month. Throughout February, members also heard an “Unscripted” conversation with United Airlines captain, Carole Hopson, and attended a Black History Month Kitchen Takeover and an end-of-month celebration at Hudson Yards.

FROM ON MUTE TO VOLUME UP
For Carmen Williams, General Manager for Coach in Southern California, entry into the Black Alliance EBRG also started quietly – by showing up.

“When I first joined the calls, I would be on Zoom on mute,” Williams remembers. “I would unmute myself, say something once in a while, and then immediately mute again.”

Soon enough, Williams — who’s been a COACH General Manager for 17 years — realized others on the call listened to and valued her ideas. “I did have a voice, I did have a seat at the table, and I was making an impact — even when I was just listening,” she says.

With steady participation, Williams began to see the opportunities Black Alliance provided for Tapestry employees, namely: leadership, networking, philanthropy.

From listening on mute, Williams was invited to become more involved, eventually becoming lead of the Professional Development pillar where she co-created career growth programming. Now as part of Williams’ role as a Black Alliance Co-lead, she regularly advocates for virtual access to meetings and events for retail and fulfillment center employees.

“The store population of Tapestry is the largest employee populations in our company,” Williams says. “If we’re talking about people first, this needs to be louder.”

For Williams, it’s Tapestry’s value of “Embracing Difference By Design” that resonates most as a leader — both in her full-time role and as Black Alliance co-lead.

“I want to be an ally because I have over 100 people on my team [as a general manager] and I need to be able to relate to their diverse needs,” says Williams, who is also a member of Prouder Together and Juntos Unidos EBRGs.

CREATING SPACE FOR LEADERS TO RISE
Both Livingston and Williams’ stories prove that confidence often builds within a supportive community. And they credit Tapestry with creating space and resources to allow them to join that community and evolve into leadership roles.

“Tapestry has done an excellent job of allowing this space to happen,” Livingston says. “For all the EBRG groups, we get to do certain events, host speakers, and there’s the space to do them.”

Williams says EBRGs like Black Alliance are a crucial part of retaining talent. “EBRGs gives people the opportunity to take a deep breath and say ‘I definitely belong.’ Inclusion and belonging is key to what we do.”

In the end, the leaders who leave the deepest mark didn’t always have a blueprint. Instead they’re the ones who consistently participated, took action, and let their growth as a leader speak for itself.

As Livingston says it best, “Participation matters at every level. You don’t have to lead — you just have to show up.”

Stay up to date on news from Tapestry on the Tapestry Newsroom.

Leadership stories are often told as straight lines: clear goals, deliberate moves, steady climbs. But many leaders don’t follow a blueprint — they grow into leadership by showing up, contributing and letting their impact speak for itself.

Two members of Tapestry’s Black Alliance Employee Business Resource Group (EBRG) are doing just that.

“It wasn’t my plan to come in [to the Black Alliance ERBG] at the lowest level and find my way to the top,” says Jason Livingston, Manager of Procurement and Vendor Engagement at Tapestry.

When first becoming involved with the EBRG group, Livingston says his thinking was only, “I like what’s going on here, I like what they’re trying to build, I want to participate. My journey [into the co-lead role] has been one of availability.”

Livingston first stepped into the group by volunteering as a marketing coordinator, segueing into philanthropy, and as he tells it, “Someone left, so I got elevated from coordinator to co-lead because someone said, ‘Jason can do it.’”

As much as he downplays it, Livingston’s work in Black Alliance is a natural fit. Not only is it an extension of his full-time role helping to connect Tapestry with varied vendors, but it also allows him to follow his personal interests through experiences and events while connecting with others.

The Black Alliance’s “Bookish Book Club for instance — I was already reading Black authors and content related to the Black community. The only difference is that now I’m talking to people in the community about what I’m reading,” Livingston says. “I was already going to museums and Black History Month cultural events, now I do it with my Tapestry community.”

The Bookish Book Club is just one of the events the EBRG hosted in honor of Black History Month. Throughout February, members also heard an “Unscripted” conversation with United Airlines captain, Carole Hopson, and attended a Black History Month Kitchen Takeover and an end-of-month celebration at Hudson Yards.

FROM ON MUTE TO VOLUME UP
For Carmen Williams, General Manager for Coach in Southern California, entry into the Black Alliance EBRG also started quietly – by showing up.

“When I first joined the calls, I would be on Zoom on mute,” Williams remembers. “I would unmute myself, say something once in a while, and then immediately mute again.”

Soon enough, Williams — who’s been a COACH General Manager for 17 years — realized others on the call listened to and valued her ideas. “I did have a voice, I did have a seat at the table, and I was making an impact — even when I was just listening,” she says.

With steady participation, Williams began to see the opportunities Black Alliance provided for Tapestry employees, namely: leadership, networking, philanthropy.

From listening on mute, Williams was invited to become more involved, eventually becoming lead of the Professional Development pillar where she co-created career growth programming. Now as part of Williams’ role as a Black Alliance Co-lead, she regularly advocates for virtual access to meetings and events for retail and fulfillment center employees.

“The store population of Tapestry is the largest employee populations in our company,” Williams says. “If we’re talking about people first, this needs to be louder.”

For Williams, it’s Tapestry’s value of “Embracing Difference By Design” that resonates most as a leader — both in her full-time role and as Black Alliance co-lead.

“I want to be an ally because I have over 100 people on my team [as a general manager] and I need to be able to relate to their diverse needs,” says Williams, who is also a member of Prouder Together and Juntos Unidos EBRGs.

CREATING SPACE FOR LEADERS TO RISE
Both Livingston and Williams’ stories prove that confidence often builds within a supportive community. And they credit Tapestry with creating space and resources to allow them to join that community and evolve into leadership roles.

“Tapestry has done an excellent job of allowing this space to happen,” Livingston says. “For all the EBRG groups, we get to do certain events, host speakers, and there’s the space to do them.”

Williams says EBRGs like Black Alliance are a crucial part of retaining talent. “EBRGs gives people the opportunity to take a deep breath and say ‘I definitely belong.’ Inclusion and belonging is key to what we do.”

In the end, the leaders who leave the deepest mark didn’t always have a blueprint. Instead they’re the ones who consistently participated, took action, and let their growth as a leader speak for itself.

As Livingston says it best, “Participation matters at every level. You don’t have to lead — you just have to show up.”

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Developing housing is already a complex equation, and tapping EB-5 capital adds a whole other layer of strategy.

In this episode of BuzzHouse, Don Bernards and Garrick Gibson are joined by their Baker Tilly colleagues Warren Oakes and Jillian O’Brien, two professionals with deep experience in EB-5 project structuring, compliance and advisory services. The team explains what EB-5 is, how it applies to multifamily housing, the steps developers need to take if they’re considering this type of capital and how to evaluate if EB-5 is a good fit for your housing project.

Affordable housing resources

For articles, webinars and additional resources for developers, housing authorities, property managers, state housing credit agencies and lenders, visit our affordable housing page.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Developing housing is already a complex equation, and tapping EB-5 capital adds a whole other layer of strategy.

In this episode of BuzzHouse, Don Bernards and Garrick Gibson are joined by their Baker Tilly colleagues Warren Oakes and Jillian O’Brien, two professionals with deep experience in EB-5 project structuring, compliance and advisory services. The team explains what EB-5 is, how it applies to multifamily housing, the steps developers need to take if they’re considering this type of capital and how to evaluate if EB-5 is a good fit for your housing project.

Affordable housing resources

For articles, webinars and additional resources for developers, housing authorities, property managers, state housing credit agencies and lenders, visit our affordable housing page.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

• Exclusive collaboration combines Giammarco Technologies’ proven process with Baker Hughes’ world-class turbomachinery
• Companies to deliver integrated, fit-for-purpose and cost-competitive solutions that enable energy and industrial decarbonization, at scale
• Joint solution to build on pilot plant testing and experience from more than 400 HPC industrial projects.  

FLORENCE and VENICE, Italy, February 27, 2026 /3BL/ – Baker Hughes, an energy technology company, and Giammarco Technologies S.r.l., renowned licensor of Hot Potassium Carbonate (HPC) process, announced an exclusive collaboration to advance and commercialize HPC solutions for post-combustion capture across a range of energy and industrial sectors. The announcement was made at the 2026 Baker Hughes Annual Meeting in Florence, Italy.

Giammarco Technologies’ proven HPC process is already widely used across more than 400 industrial projects and leverages a safe and sustainable potassium-based solvent to efficiently capture CO₂ from gas streams. Under the collaboration, this process will be integrated with Baker Hughes’ turbomachinery technology – including trains for flue gas compression and expansion and mechanical vapor recompression – for post-combustion capture applications.

Together, the companies will seek to leverage multi-sector pilot plant testing and deliver fully integrated, customized solutions that will help lower the cost of carbon capture. Already supporting customers with feasibility studies and prospecting front-end engineering design (FEED), the companies will deliver projects through full execution across multiple industries.

“We’re proud to collaborate with Giammarco Technologies. Together, our complementary capabilities will expand the use of HPC across hard-to-abate sectors and unlock new pathways for energy and industrial decarbonization at scale,” said Ahmed Eldemerdash, vice president of Climate Technology Solutions at Baker Hughes. “This collaboration underscores our commitment to advancing technologies that improve the economic viability of CO₂ projects and to being a trusted partner to reduce emissions worldwide.”

“We are proud to enter into a strategic collaboration with Baker Hughes, representing a major step forward in the global deployment of our HPC process and further strengthening Giammarco Technologies’ position as a technology leader in post-combustion carbon capture,” said Giuseppe Giammarco, CEO of Giammarco Technologies. “Our advanced process, combined with Baker Hughes’ global execution capabilities, enable the delivery of high-performance, cost-effective and fully integrated solutions for industrial and energy sector decarbonization.”

Through this strategic collaboration, the HPC offering is now part of Baker Hughes broad portfolio of CCUS solutions, which includes consultancy, front-end design, capture and purification systems, fit-for-purpose compression and liquefaction technology, well design and construction for injection and monitoring, as well as long-term site stewardship.   

About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

About Giammarco Technologies
With over 70 years of expertise and more than 400 industrial references, Giammarco Technologies is a trusted leader in licensing advanced processes for capturing CO₂ from industrial emissions. Built on Hot Potassium Carbonate solvent, its sustainable and scalable solutions help industries worldwide reduce their carbon footprint and accelerate the transition to a low-carbon future. Visit us at giammarcotechnologies.com.

For more information, please contact:

Media Relations
Melanie Kania 
832-727-5195 
melanie.kania@bakerhughes.com 

Media & Communications
Gabriele Olivo
+39 041-719387
g.olivo@giammarcotechnologies.com