Tag: 3BL

​While one of the main challenges surrounding green hydrogen is price, there is another glaring obstacle: the lack of women working in the industry.

As a result, initiatives such as Women in Green Hydrogen (WiGH) have launched in a bid to break the outdated mould. WiGH is a network of women working in the green hydrogen sector, providing a platform to connect and empower women to be heard within the still male-dominated sector.

Last October, I attended the WiGH conference in Brussels, as part of the European Hydrogen Week event, and it was refreshing to witness the drive and passion among women for the future of green hydrogen. However, it has made me ponder whether challenges with gender and diversity in the sector are compounded by having a separate conference for women in hydrogen and I believe their event should have formed part of the main conference, rather than running as a separate forum.

The barriers for women working in green hydrogen

Currently, a mere 22% of women are represented in the oil and gas sector, according to joint research from the World Petroleum Council and The Boston Consulting Group, while 75% of the top UK energy firms (inclusive of oil, gas, power and renewables) have no women in executive director positions according to recent research in the 2022 State of the Nation report conducted by the POWERful Women initiative (which calls for an inclusive energy sector) and PwC, highlighting just 20 of the top 80 UK energy companies have any women in executive director roles. Despite the desire to advance their career in the renewable energy field, women often face hurdles that do not seemingly impact men in the same vein, including the pressures of striking a sustainable work/life balance. The glass ceiling metaphor, the invisible barrier which prevents women from getting the promotions they deserve to advance their position on the career ladder, unfortunately remains firmly in place and progress is slow.

It is estimated that around 20% of panel speakers at green hydrogen summits are women, according to WiGH research, despite diversity being a key component in overcoming many of the challenges that require an assortment of brain power.

Diving deeper into the talent pool during the recruitment process is vital for accelerating a business’s success towards meeting its long-term sustainability goals. While there is a more conscious swerve away from the old-fashioned approach of hiring ‘pale, male and stale’ candidates, the lack of women working in green hydrogen is still testament to the urgent shake-up that is required to integrate diversity into every workplace. Yet addressing the gender gap in this industry, and increasing the visibility of women in this field, shouldn’t feel insurmountable.

Driving innovation – and diversity

Acre aims to play a key part in driving the understanding of equitable and good talent management, furthermore, embedding sustainable changes into our clients’ organisations to ensure every skillset is given the platform – and voice – it deserves.

Chloë Hunt, Global Director of Research & Equity, Diversity and Inclusion at Acre, said: “By reporting and benchmarking both the industry and our processes, we are able to see how a search or a particular area is performing against industry norms and how we might improve it.

“In addition, we can look at how we might actively headhunt and attract diverse talent into our roles to offset against those industry norms.”

With the sector still in its infancy, the innovation and new ideas required to steer green hydrogen forward to decarbonise the energy industry, is reliant on passion, experience and knowledge. A more diverse workforce with a diverse skillset and knowledge will add immense value to business operations, leveraging different expertise and points of view to create new solutions.

A staunch effort to attract more women to work in the green hydrogen field will ensure a wider expanse of thought processes, generating robust conversations regarding implementing solutions. More diverse workforces can increase profit too, according to Hewlett-Packard, yet gender parity is still lagging considerably, as fewer women choose an industry that remains so male-dominated.

The WiGH network has launched a hydrogen-specific mentoring programme, an initiative to empower women in junior-middle management roles to break through the barriers and advance to the next stage in their career by connecting them with experts in the field.

It also arranges events to enable women to network and take part in various debates about the latest developments in such a key technology.

According to the Bureau of Labor Statistics, women accounted for 56.8% of the labour force in the US in 2021, but only held 29.1% of chief executive positions. How can we better support these individuals in the labour force to remain and progress within their profession?

Without effecting the urgent change required, we face a perpetual cycle of women struggling to enter a male-dominated industry. One reason for the lack of female presence in green hydrogen is because it isn’t appealing for women to enter a career that seemingly lacks accessibility.

It is therefore vital that we help identify the barriers which might be referenced to people’s progression in the industry via conversations within the market, to drive a more effective talent management process and gain wider access to the industry.

Perceptions of the industry might dissuade people from entering so with that in mind we can look at how to offset and mitigate those stumbling blocks, addressing them early in the process to unlock future talent.

At the next conference, I would like to see the presence of allies outside of the women already spearheading within the industry who can raise this issue and flag up what needs to be achieved to break down the barriers. I would hope that demonstrating what the industry is working towards in terms of driving diversity within the talent pool, and showcasing those new to the sector, will unveil greater opportunities for women and address the imbalance by providing a visible platform and networking facilities.

Nancy Schurig is Principal Consultant for Acre Europe where she supports leading renewable developers and clean technology innovators to secure innovative technology and commercial leadership in the region. Acre is a 20-year-old dedicated sustainability recruitment group with a strong global footprint across carbon solutions, renewable development and climate technology recruitment.

About Acre

At Acre, we work with the most aspirational businesses with potential to make real change; from those who are just starting out to those who are well on the journey to crafting a legacy.&

Our 18 years’ experience in sustainability recruitment, combined with our extensive global network, enables us to provide talent solutions that are designed to deliver this change.

Through our unique behavioural assessment technology, we understand the types of people, skills and behaviours required to create impact. We can develop these qualities within your existing teams too.

We find talented people and develop their skills to ensure they make a true impact in ambitious, progressive organisations.

Acre. Making companies ready for tomorrow.

At Lenovo, community engagement and philanthropy are big parts of our company culture. We’re proud to have many employees who are passionate about giving back to under-resourced communities across the globe. Last year, Lenovo Foundation announced a global partnership with Wine To Water (WTW), a non-profit organization that provides access to clean drinking water and hygiene education to communities across the world. Lenovo’s multi-year agreement provides financial support, as well as technology solutions in Nepal, Colombia, Tanzania, Dominican Republic, and North Carolina. Lenovo also invited a select group of employees to volunteer in the field to see first-hand how Wine To Water is making a difference in communities.

Employees representing the Lenovo Foundation – the philanthropic arm of Lenovo – were selected to participate in Wine To Water service trips in Nepal, the Amazon, and Dominican Republic. During the service trips, team members from different backgrounds, departments, and tenure, worked alongside local community members to undertake a range of projects. Volunteers dug trenches, laid pipelines, modeled and distributed ceramic water filters, and taught women and children the about the importance of hygiene.

An important aspect of WTW’s mission is to build relationships with the communities they serve and work hand-in-hand with these communities in often remote, hard to reach places. For many of the Lenovo volunteers, the experience of helping create sustainable change by creating access to clean drinking water left them with feelings of gratitude and empowerment.

“I had a lot of different feelings at the end of the trip; appreciative of the people that we met, inspired to continue service work back home, and empathetic—not sympathetic—for the communities we served. The experience with WTW keeps me grounded and wanting to still give back,” said Kelly Darden, ThinkCentre Product Manager at Lenovo North America. Darden was one of 19 Lenovo employees selected to attend the WTW service trip to the Dominican Republic in January 2023.

To help bring more awareness to WTW and its impact, Lenovo funded the production of Beyond Water, a documentary about Wine To Water’s work and the power of clean water, featuring stories and footage from the service trips to Dominican Republic, Nepal, and the Amazon. Lenovo is promoting the documentary and is hosting screenings across the United States to increase awareness of Wine To Water and its mission of ensuring that all people have access to clean water.

To watch the full documentary, visit https://www.wtw.org/beyond-water-documentary

KeyBank and KeyBank Foundation were honored by the YWCA of White Plains & Central Westchester with its 2023 Community Partner Award at the In The Company of Women luncheon on Friday, May 12th.

The award, presented by Isabella Malouf, Director of the YW’s Women’s Residence and Clinical Services recognized KeyBank’s continued support to the YW’s initiatives both philanthropically and through their volunteerism. In 2022, KeyBank Foundation committed a two-year, $200,000 grant to fund the YW Strive program, designed to connect women to free internet access and devices, as well as the training to utilize them. The grant was created to provide at least 100 women, with an emphasis on women of color and low-income women, with essential digital and workforce support to improve their vocational opportunities.

The bank has also consistently supported the nonprofit with board leadership over the years; currently KeyBank Area Retail Leader Elona Shape volunteers her time and leadership to the YWCA board. Local KeyBank branch employees also provide financial literacy programming to YW residents and many more in our community.

KeyBank’s John Manginelli, Market President for Key’s Hudson Valley and Metro New York market accepted the award, saying that KeyBank was proud to stand with the YWCA in their mission to empower women, advance racial equity, and help bring financial stability to those living in poverty. He stated that one the most important ways to empower someone is to give them the education and tools they need to be financially self-sufficient.

“Our charitable grant to support digital equity and access through the YW Strive program is an example of how we can help unemployed and underemployed women break the cycle of poverty for themselves and their families by giving them tools and education to achieve financial stability,” said Manginelli. “While we certainly didn’t make this grant for the recognition, it is gratifying to receive it and the appreciation it represents, and we thank the YWCA for it.”

Manginelli closed his remarks by thanking his market team for the work they do to help Key’s clients and communities thrive, saying “KeyBank has earned this recognition because of our employees who are in our branches and offices and on the road every day to bring financial wellness to our clients, support our business community, serve on nonprofit boards, and volunteer their time in many other ways. I am proud to accept this award on their behalf.”

About YWCA of White Plains & Central Westchester
Since its founding in 1929, the YWCA White Plains & Central Westchester has been a pioneer for social change through innovative programs that improve the lives of women and girls in Westchester. The YWCA’s mission is to eliminate racism, empower women and promote peace, justice, freedom, and dignity for all. With two locations in White Plains, an activity center and a residence for women, each week the YWCA serves over 4,000 women, children, and their families. For nearly ninety years, the YWCA has been making a difference in the lives of women, children, and families in White Plains and Westchester through three core program areas: Empowerment & Economic Advancement, Racial Justice, and Health & Wellness/Safety.

About KeyCorp
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $198 billion at March 31, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

About KeyBank Foundation: 
KeyBank Foundation serves to fulfill KeyBank’s purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation’s mission is advanced through three funding priorities – neighbors, education, and workforce – and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.

Horizons

Introducing the newest addition to our series of Horizons reports: Market Conditions. Released quarterly, this provides in-depth data paired with expert analysis on how wider economic events will affect the construction industry.

Download the Report

From equipment lead times and supply chain fluctuations to the availability of skilled labor, rapidly shifting market dynamics are testing capital project planners like never before. To address those challenges, we released a new Horizons: Market Conditions report.

Available quarterly as a free download, the report unites macroeconomic data from public sources and microeconomic data from CRB’s strategic trade partners to deliver an actionable snapshot of today’s construction economy and help organizations navigate their capital project planning phases with more confidence. Data tied to producer prices, market impacts, labor and forecasting are among the factors considered by the report’s inaugural contributors: Greg Casper, CRB’s Director of Estimating and Valerie Silva, the company’s Director of Procurement.

The first Market Conditions report finds capital project planning vexed by extreme uncertainty that permeates both the supply chain and labor pool, as rising interest rates and the expectation of a recession loom over the economy.

Silva and Casper examine lead times for equipment utilized in most life sciences and food and beverage facilities. This data can be instrumental in developing early execution strategies necessary to achieve desired schedules and successful project outcomes. The report finds that lead times for facility electrical equipment continue to extend, requiring early focus on the design and procurement of this equipment to achieve most project schedules.

Motor control centers (MCC) have current lead times of at least 36 weeks while transformers can take up to 100 weeks to arrive. Busway lead times are nearly a year long, up 20 weeks over the previous quarter, potentially extending lead times of electrical equipment as well as skidded utility generation equipment, the report’s data shows.

The Market Conditions report expands CRB’s Horizons series, the company’s combination of industry research and analysis of the life sciences and food and beverage industries.

“This report is a natural extension of our Horizons brand, and I’m excited by the market-specific intelligence our experts have captured,” said Mike Barrett, CRB’s Vice President of Project Delivery Services. “This is something our teams, partners and clients have been asking for, and we’re eager to get it in their hands.”

MIDLAND, Mich., May 15, 2023 /3BL Media/ – Dow (NYSE: DOW) has been named a Supplier Engagement Leader for addressing climate change for the second consecutive year by CDP, a global non-profit that runs the world’s environmental disclosure system for companies, cities, states, and regions.

In 2022, Dow achieved an A score for climate change action in the supply chain and earned its place once again amongst the top-rated companies featured on CDP’s Supplier Engagement Leaderboard. This score stands alongside Dow’s A- rating from CDP for climate, forests, and water.

Reflecting on this great achievement, Dow’s chief purchasing officer, Cathy Budd commented: “Only by effectively engaging our suppliers in emission reduction initiatives can Dow achieve scalable decarbonization at the pace required to meet our 2050 carbon neutrality targets. Scope 3 emissions represent approximately 70% of Dow’s carbon footprint, with more than half of those originating from purchased raw materials, transportation, and other services. We need our suppliers to reduce their climate emissions to enable reductions throughout the value chain.”

CDP evaluates supplier engagement best practices in GHG emissions reduction and climate change issues using an independent Supplier Engagement Rating (SER). The rating considers company responses to questions across four key areas: governance, targets, scope 3 emissions accounting and supplier engagement. In addition, an organization’s overall CDP climate change performance is also factored into the rating.

Every year, those who obtain the highest SER score join CDP’s Supplier Engagement Leaderboard. Inclusion on this list demonstrates that a company is working closely with its suppliers to ensure that climate change action is cascading down their supply chain.

“Being amongst the highest-scoring companies on CDP’s SER system demonstrates that Dow is proactively collaborating with our supply chain partners to incentivize transparent and accurate disclosure of upstream emissions and drive accelerated climate action.” said Leticia Jensen, Dow’s global purchasing director for Sustainability, Supplier Diversity and ESG. “I am proud to see our global cross-functional teams being recognized for their relentless commitment to building sustainable and resilient supply chains.”

About Dow
Dow (NYSE: DOW) combines global breadth; asset integration and scale; focused innovation and materials science expertise; leading business positions; and environmental, social and governance leadership to achieve profitable growth and help deliver a sustainable future. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company in the world. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer applications. Dow operates manufacturing sites in 31 countries and employs approximately 37,800 people. Dow delivered sales of approximately $57 billion in 2022. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

For further information, please contact:

Petya Todorova
+447442787816
ptodorova@dow.com

Environmental protection is a year-round job, but Earth Month is an opportunity to celebrate, learn, and reflect on our sustainability journey.

Comcast recently convened hundreds of employees for Our Sustainable Future, an event focused on inspiring and empowering teams across the company to support our environmental goals.

It was a wonderful chance to acknowledge both the progress and challenges as we work to reduce our carbon footprint and advance on our goal to be carbon neutral by 2035.

While strategies like sourcing clean energy and driving energy efficiency are among our top priorities for reducing our carbon footprint, we are also driving positive impact through our products and platforms – both of which were showcased at the event.

As I reflect on the broad display of creativity and talent, I see three themes that unite us on our journey toward a more sustainable future.

1. It starts with building the best product

At Comcast, we pride ourselves on building products that are made to last, as reliability is the foundation of our business. But it’s also the foundation of sustainability. The distribution model for our connectivity devices ensures that customers are able to access the latest technologies and enjoy the best customer experience, while maximizing reuse so that each product is used until the end of its life – often finding multiple homes before it is decommissioned.

Our design teams are constantly innovating to increase the lifespan of our products. For example, the decision to change the color and finishes on our XB gateways from Xfinity Grey to Xfinity White has reduced refurbishing and repair costs and helped reduce waste to landfills.

2. Sustainable design is a constant evolution

Because sustainability can mean so many different things – reducing material inputs, increasing recyclability, utilizing recycled materials in products, reducing embodied carbon, the list goes on – there are several tradeoffs to consider when making sustainable design choices, making it a constant process of learning, testing, and recalibrating.

For example, our award-winning Xfinity Eco Capsule™ has been celebrated for its outstanding design as the first Xfinity modular packaging system that is 100% recyclable and reusable. Our next generation of packaging will not only prioritize recyclability, but also the carbon emissions associated with shipping and transportation.

Our challenge is to innovate and adapt in constant pursuit of better, more sustainable products.

3. An opportunity to use our platforms for good

The same sustainability values we carry in designing our products also apply to our platforms. As a global media and technology company, we are uniquely positioned to help drive awareness of the world’s most pressing issues and offer solutions that can drive positive change.

For example, TODAY Climate, led by Al Roker, is our commitment to covering climate change and sharing sustainable solutions with our millions of viewers. In the UK, Sky produces the Daily Climate Show, investigating how global warming is changing our landscape, as well as developing a variety of other content focused on behavior change, particularly in youth programming.

The Universal Filmed Entertainment Group recently launched the GreenerLight Program, an initiative focused on embedding sustainability across the entire filmmaking process including script development, locations and set needs, as well as on-screen behaviors.

These are just a few examples of the ways we’re continuing to drive sustainability across our products and platforms. By working together, we can drive lasting change to create a greener, cleaner future.

Sara Cronenwett is Senior Vice President of Corporate Strategy and Environmental Sustainability for Comcast Corporation.

Originally published on TriplePundit 

The introduction of environmental, social and governance (ESG) issues into financial reporting is slowly but surely bringing clarity to the often complex realm of banking. Driven by calls for transparency from governments and investors, as well as the transition to a low-carbon economy, banks are under pressure to evaluate ESG metrics in their investment and lending portfolios. For example, financial institutions are expected to reach net-zero emissions in their portfolios by 2050, among other ESG considerations shaping the sector.

Banks must establish new strategies and assessments, as well as internal governance and accountability structures, to meet and manage these emerging expectations and requirements. Commercial banking is unique in that it faces more governance stressors compared to other industries. Banks are under strict regulatory oversight, have a wide range of exposure to enterprise risks and are highly sensitive to market volatility. On top of that, they’re expected to lead a financial transformation by effectively managing their ESG risks and impacts: For example, if banks only lend to companies that meet a certain ESG threshold, it forces prospective borrowers to meet those requirements.

Governance in the commercial banking industry is complex — if not overwhelming. To shed some light on the topic, we can turn to the example of one bank that has been able to successfully manage its ESG obligations and emerge as a leader.

Fifth Third Bank’s ESG leadership

Headquartered in Ohio, Fifth Third Bank is one of the largest banks in the Midwestern U.S., with more than 1,100 branches across 11 states. The company’s commitment to sustainability has earned it high marks on ESG ratings systems like CDP and Sustainalytics, as well as building trust and confidence among its stakeholders.

“These actions that we’ve done are not because of the more recent ESG fad. It’s part of our purpose-driven company,” Mike Faillo, senior vice president and chief sustainability officer at Fifth Third Bank, told TriplePundit. “Focusing on sustainability has been part of our business for a lot longer, and that has put us in a position of leadership.”

While the ESG movement may be a relatively new development, the idea of social responsibility in banking has a long history. In 1977, the Community Reinvestment Act (CRA) required banks to service the credit needs of all segments of their communities, particularly those of low-income neighborhoods. In the following decades, corporate social responsibility (CSR) initiatives gained traction and prompted banks and other companies to consider the social impacts of their actions. Fast forward to the current day and we have the ESG movement, complete with ESG investment products, ESG bonds, and ESG rating scales widely available to consumers and investors.

With the complexities involved, many bank leaders know they should be setting ESG targets, measuring their progress, reporting their metrics, and publicly disclosing their findings. But exactly how to do that remains the big question.

How good governance drives ESG strategy

“We believe in transparency, credibility and telling our story,” Faillo told TriplePundit. “Transparency is what breeds trust. To make commitments and then report on those commitments, whether you’re achieving them or not, is what builds the trust.”

The key to achieving sustainability goals and mitigating ESG risks in banking lies in a strong and committed leadership structure. “We used to joke back when ESG was first coined that GSE was already taken so they went with ESG, because governance would’ve been the most important,” Faillo said.

Engagement with stakeholders, both external and internal, to identify priorities and challenges is one of the key first steps in developing a strong ESG strategy. Fifth Third conducts stakeholder materiality assessments to determine which sustainability topics are top of mind. The engagement groups include shareholders, customers, employees, communities and regulators. The methods of engagement are extensive, but include shareholder meetings, focus groups, engagement surveys, business resource groups, and community needs surveys and assessments.

As a result of these stakeholder engagement efforts, Fifth Third’s sustainability committee identified — and the board of directors approved — five corporate sustainability priorities for the company: addressing climate change, promoting inclusion and diversity, delivering on its commitment to employees, keeping the customer at the center, and strengthening the communities where the company does business. Each priority has related metrics and goals that can be measured and tracked to gauge performance.

The priorities, goals, and progress are then communicated to the public to show transparency, provide accountability and build trust. The bank also includes sustainability performance on those identified priorities as a modifier to its employee variable compensation plan — which affects a wide group of employees, not just the bank’s executives. More details on Fifth Third’s sustainability strategy and accountability mechanisms can be found in its most recent ESG report.

The commitment to those sustainability priorities is also evident by the company’s sustainability business resource group, which is open to all employees across the business. “The group is focused on driving employee development and education on sustainability topics,” Faillo said. “We bring in speakers, both externally and internally, to teach and discuss these topics. It also focuses on community involvement and business innovation.” The group has over 750 members and drives many of the company’s ideas about how to overcome hurdles and improve ESG priority performance.

Along with the contribution from employees on ESG topics, the bank’s executives also chair a sustainability committee that meets on a quarterly basis to review metrics and provide another layer of internal accountability. The committee is chaired by the chief corporate responsibility officer, and includes the bank president and CEO, among other high-level executives.

The commitment from Fifth Third to integrate sustainability into day-to-day operations, and not just as something to be done once a year on the side, allows the bank and its employees to be recognized as sustainability leaders in their industry.

What’s next for ESG in commercial banking?

The landscape of ESG reporting is constantly changing, and sustainability leaders need to keep updated on the latest developments. In the U.S., mandatory climate disclosure rules from the Securities and Exchange Commission (SEC) are expected to take effect in 2024, with reporting required for large companies. Similar disclosure regulations are already on the books in the European Union and the U.K., and mandatory disclosures are coming soon to Canada, New Zealand, Switzerland and other countries.

Most disclosure requirements for financial institutions are based on the Task Force on Climate-Related Financial Disclosures (TCFD) framework. A global standard for reporting is also in the works from the International Sustainability Standards Board (ISSB) and is expected to be adopted by more than 40 countries as their mandatory disclosure requirement.

Banks require strong governance structures to prepare for those reporting obligations and develop comprehensive ESG strategies that are integrated into the business. Fifth Third’s work represents a promising blueprint for others in the sector.

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

Originally published in Bloomberg’s 2022 Impact Report
 
The world is in transition, moving away from a past powered and polluted by fossil fuels and heading towards a future that runs on clean and renewable energy. We aren’t nearly as far along as we should be in order to avoid the worst harms of climate change. But the right tools and support can help companies and policymakers pick up the pace — and at Bloomberg, we’re working harder than ever to provide them. 

In 2022, Bloomberg and Bloomberg Philanthropies led a number of new efforts to increase access to data that can help our customers, and public and private sector leaders around the world, make more informed decisions about climate risks and opportunities. Transparency can play a powerful role in helping to accelerate the global economy’s transition to net-zero emissions, and this work is part of our broader effort to provide valuable data, research and insights on a wide-range of environmental, social and governance (ESG) issues, as this report details. 

One of the biggest steps we took in 2022 occurred at the United Nations’ COP27 climate conference in Egypt. We joined French President Emmanuel Macron in announcing recommendations for a new public data portal that will provide accurate corporate climate-related data in one place for the first time, increasing transparency. Also during the summit, the FAST-Infra Group announced that Bloomberg will help lead the implementation of a labeling system that will allow investors to see whether certain infrastructure projects, like electricity transmission grids and data centers, meet sustainability criteria, with the goal of driving more capital to sustainable infrastructure. 

Meanwhile, our work with the Glasgow Financial Alliance for Net Zero (GFANZ) took important steps forward. Our coalition launched new tools to help financial firms develop credible plans for cutting emissions across their portfolios. Moving the global economy to net zero will require an enormous amount of new investment, and new strategies to support global economic growth without growing emissions. Financial institutions have a critical role to play, and through GFANZ, we’re working to knock down barriers that stand in the way. 

Of course, we’re also committed to leading by example. Almost 55 percent of Bloomberg’s global electricity is already sourced from renewable energy projects, and we are on track to achieve our goal of obtaining 100 percent of our electricity from certified renewable sources by 2025. In February 2023, the Science-Based Targets initiative (SBTi) verified that our company’s targets are in line with the global emissions reductions needed to limit the global temperature rise to 1.5°C. 

Virtually all of our company’s profits go to fund the work of Bloomberg Philanthropies, which is leading programs around the world to cut emissions and grow cleaner energy. In 2022, we expanded our efforts to move the world beyond coal and increase access to clean, affordable energy in developing countries. In the U.S., we launched a new campaign to stop the expansion of petrochemical plants, which are a growing environmental and public health problem. At the same time, nearly 15,000 Bloomberg employees volunteered in community projects across the world in 2022. These included initiatives to protect the environment and programs to promote economic opportunity through training and mentoring. 

We’ve always believed in giving back to the communities where we live and work, and in investing in our company’s most important asset: our people. The stronger and more diverse our team grows, the more we’ll succeed – and the bigger impact we can have, as this report shows. It’s a good summary of how, together, we are leading the way forward – and helping our customers and others to join us.
 

Read the full Bloomberg 2022 Impact Report here.

Created in 1998, the Suncor Energy Foundation (SEF) is a private, charitable foundation established by Suncor in 1998. Over 25 years, it has donated more than $260 million to support a wide variety of organizations.

The foundation is fully funded by Suncor and embodies the company’s purpose of caring for each other and the Earth by connecting business and community strengths to make a positive difference in society. Through partnerships and relationships with those who are courageously seeking solutions, SEF helps spark change and propel progress for generations ahead.

SEF believes in partnering and building relationships for the long term to bring a brighter world to life. These relationships need to be across multiple sectors as no one type of organization can solve the interconnected, complex challenges we’re facing in the world today.

Read the full story here.

Originally published in GoDaddy’s 2022 Sustainability Report

Venture Forward

At GoDaddy, our commitment to inclusive entrepreneurship is supported by what we know: that the long-term success of entrepreneurs and their microbusinesses supports the economic wellbeing and resilience of communities. That’s the core belief behind Venture Forward, a research initiative launched by GoDaddy in 2018 that captures the impact made by the over 20 million microbusinesses our customers created in the U.S. alone.

In 2022, Venture Forward conducted its fifth nationwide survey of more than 3,300 microbusiness entrepreneurs across the U.S. regarding their motivations, demographics and needs. The results of our survey illuminate several key trends and areas of opportunity, including:

Almost one-third of microbusinesses were created after the pandemic started. 
 Two-thirds of entrepreneurs started with less than $5,000, and more than two-thirds generate income from their microbusiness. 
 The number of Black women starting businesses since the pandemic began surged more than 100%, jumping from 11% of all businesses started before 2020 to 22% of all businesses founded since that year. 
 More than half of entrepreneurs started their business on the side, and 27% left their current job to start their business.

It’s easy to find examples of how microbusinesses positively impact their communities, but historically, there has been a lack of reliable, comprehensive data to quantify their profound impact — like increasing the median household income, creating jobs and lowering unemployment in their communities.

That lack of data makes it challenging for entrepreneurs — especially those in marginalized communities — to carve out a voice in the policy and technology debates that affect their businesses, including issues regarding credit access, taxation, broadband access, skills training, benefits portability or internet access.

With that in mind, we carefully considered the data we collect and the questions we ask. We engaged policymakers, elected officials and thought leaders. The conclusion is clear: These often overlooked entrepreneurs need support to realize their full potential.

Our Venture Forward data provides a foundation for changemakers to advocate for the resources and policies that the microbusinesses in their communities need to thrive, and it offers a better understanding of the economy at local and national levels.

Microbusiness Data Hub 

GoDaddy’s ambitious Venture Forward research enabled the launch of the Microbusiness Data Hub in 2022. The Microbusiness Data Hub offers unprecedented access to free, downloadable data on more than 20 million microbusinesses and the entrepreneurs who own them across geographies and industries.

Through the Microbusiness Data Hub, Venture Forward can support and accelerate the efforts of all those working to build stronger, more inclusive and equitable communities and economies. Updated quarterly, this data resource includes refreshed measurements of microbusiness density, our proprietary Microbusiness Activity Index, industry and online commerce insights, and ongoing survey responses from select markets across the U.S. since 2019.

Strategic Collaborations

We believe that strong outcomes can arise from data on microbusinesses being applied, and that’s why we curated valuable partnerships with organizations that help us elevate our mission to make opportunity more inclusive for all.

VENTURE FORWARD AND MYSIDEWALK
Venture Forward partnered with mySidewalk to launch an online tool that makes it easier for policymakers and other interested parties to access and understand information that highlights the economic impact of millions of microbusinesses. With tailored reports that are generated in seconds and updated automatically, the mySidewalk library also allows users to combine Venture Forward’s data with more than four billion data points for strategic benchmarking and comparisons.
 VENTURE FORWARD AND GILBERT, ARIZONA
In 2019, Venture Forward partnered with the town of Gilbert, Arizona. The goal was to create a community-specific, multistage survey to understand the needs of local microbusinesses and entrepreneurs. During the pandemic, the city used the Venture Forward data as a baseline and conducted the survey again. Those results were then leveraged by the city to build a data-informed COVID-19 recovery program that was executed into 2022. This collaboration was featured in the United States Conference of Mayors Business Council 2022 Best Practices Report.

GoDaddy Open

Our research shows that the overwhelming majority of businesses that started in 2020 or later want to grow within the next year. We know that when entrepreneurs have access to the right training, it pays off. That’s why we started GoDaddy Open, a program where we partner with cities to train and upskill local entrepreneur communities.

In October 2022, GoDaddy and Impact Hub Baltimore, our local Empower by GoDaddy partner, hosted more than 250 in-person attendees in Baltimore for an event called GoDaddy Open. Joined by the city’s mayor, our collective goal was to celebrate, upskill and inspire local entrepreneurs and microbusiness owners through presentations, educational sessions, and one-on-one help and advice from our GoDaddy Guides. As Bakari Jones from Impact Hub Baltimore said, “This event gave voice and legitimacy to a community that often gets left out.”

About This Report 
Unless otherwise noted, the GoDaddy 2022 Sustainability Report outlines our environmental, social and governance (ESG) strategies, activities, progress, metrics and performance for the fiscal year that ended on December 31, 2022. This report references the Global Reporting Initiative (GRI) Standards and includes select Sustainability Accounting Standards Board (SASB) Standards metrics for the Internet Media and Services sector.

GoDaddy is committed to regular, transparent communication about our sustainability progress, and to that end, we will share updates on an ongoing basis through our website and will continue to publish an annual Sustainability Report.

To learn more, please read our 2022 Sustainability Report.