Tag: 3BL

NEW YORK, April 17, 2023 /3BL Media/ – Ahead of Earth Day, a new Chief Executives for Corporate Purpose® (CECP) Investing in Society report finds environment, social, and governance (ESG) disclosure rates among top companies are increasing: Fortune 500® companies increased ESG disclosures 6.21% between 2019 to 2021, and Global 3,000 companies[1] increased by 7.89% over the same period. Given the increased importance of a company’s management of climate-related impacts and its transition to a post-carbon economy, specifically the amount of environmental data disclosed by Fortune 500® companies rose by 13.67% between 2019 and 2021. 

Investing in Society is the must-read source for trends on the corporate sector’s shift to be increasingly purpose driven. Developed from CECP’s premier research on, thought leadership for, and strategic engagements with more than 200 of the world’s largest companies, this report brings to light the state of corporate purpose in an evidence-based way and assesses corporate purpose-driven actions around environmental, social and governance (ESG) and sustainable business. 

“This report highlights the evolution of corporate ESG strategy over time, pinpointing what’s working and what is not,” said Jenna Moore, Manager, ESG & Sustainable Business Insights, CECP. “CECP’s Investing in Society research provides a playbook for what counts when it comes to corporate purpose, including where companies are falling short. Our analysis helps companies realign their strategies to focus on the vital areas where they can uniquely make an impact. While there are headwinds, the report can help companies prioritize what matters to them and their stakeholders.”

The study found ESG reporting is moving steadily from voluntary to mandatory, with new rules and regulations proposed and adopted within multiple jurisdictions across the globe. Other ESG findings include:

E: Companies are dedicating greater resources to climate-related issues. The number of 

Fortune 500® companies that have set a net-zero emissions target rose by 38.65 percentage points between 2019 and 2021with almost half (48.99%) of the Fortune 500® now reporting a net-zero target. Yet, interestingly, of the 94% of the companies analyzed that have set long-term targets extending over the next few decades, only 43% have set the short-term targets vital to achieving the long-term targets. This finding implies that some companies are simply setting a target now without a clear pathway to meeting those goals. 

And despite 90.55% of Fortune 500® companies and 87.53% of the Global 3,000 having adopted a waste-reduction policy, the study found due to a lack of recycling infrastructure, the amount of waste recycled has continued to decrease. Fortune 500® companies, who reported a decrease of 9.1% between 2019 and 2021 and the Global 3,000 fell by 5.19% between 2019 and 2021. 

S: Median community spending in the Fortune 500® increased from $17.6M in 2019 to $20M in 2021. Driven by the corporate responses to the COVID- 19 pandemic and the global racial equity awakening, community spend rose substantially between 2019 and 2021, by 13.44% among Fortune 500® companies and by 14.75% among the Global 3,000.

Women have largely regained the representation in the workplace that they lost during the COVID-19 pandemic, and corporate efforts to increase the number of women in leadership positions are slowly paying off. The median number of women working in Fortune 500® companies rose marginally between 2019 and 2021, by just 0.1 percentage point to 37%, recouping the representation lost during the COVID-19 pandemic. Among Global 3,000 companies, the median number of women in the workforce also rose 1.29 percentage points to 32.30% over the same period. 

G: Representation of women in the corporate C-Suite and on boards is rising, but at a slow pace, with women much more likely to secure a board seat than a CEO title. Investors, both in the U.S. and globally, have become more focused on ensuring gender diversity on boards. For example, leading institutional investors—BlackRock, State Street, and Vanguard—launched campaigns to increase gender diversity on corporate boards and their influence has made a large impact on boards’ gender diversity. The median percentage of women on boards increased by 5 percentage points among Fortune 500® companies, rising to 30% by the end of 2021. Global 3,000 companies also enjoyed a similar increase, with the number of women on boards rising to 25% between 2019 and 2021. 

However, the most senior executive position, the CEO, is still male dominated, with very little improvement in gender diversification. By the end of 2021, only 10.37% of Fortune 500® companies employed a woman as CEO, a 1.51-percentage point increase over 2018. There has been no movement in gender diversity at the CEO position in the Global 3,000 over the past three years.

Integration of sustainability into the business decision-making process has become a Board of Directors priority, with most corporate sustainability committees reporting directly to the board. By the end of 2021, 78.17% of Fortune 500® companies formally managed ESG through a dedicated committee that reported directly to the board, an increase of 27.5 percentage points over 2019. 

The study summarizes these findings through a proprietary quantitative tool, the CECP ESG Scorecard. The scorecard breaks down each Key Performance Indicator (KPI) and analyzes the three-year (FY 2019-2021) median performance on each metric, which is enhanced by CECP’s thought leadership and a review of sector-wide opinion and research.[2]

As companies face increasing pressure from investors, customers, society, and government, there will also be heightened expectations to demonstrate forward-looking goals and policies that create net positive environmental and social impact. CECP helps organizations navigate the evolving ESG landscape by providing research, benchmarking, and tools, such as the Integrated Long-Term Plan Framework, to guide companies in setting near-term and long-term goals to make a positive social impact. 

The 2023 edition of Investing in Society is available for free on cecp.co.

CECP Media Contact:
Katie Leasor
kleasor@cecp.co

###

About Chief Executives for Corporate Purpose (CECP)

Chief Executives for Corporate Purpose® (CECP) is a trusted advisor to companies on their corporate purpose journeys. Working with CEOs and leaders in corporate responsibility, sustainability, foundations, investor relations, finance, legal, and communications, CECP shares actionable insights with its CEO-led coalition to address stakeholder needs.

Founded in 1999 by actor and philanthropist Paul Newman and other business leaders, CECP is a movement of more than 200 of the world’s largest companies that represent $7.7 trillion in revenues, $37.4 billion in total community investment, 14 million employees, 22.5 million hours of employee engagement, and $21 trillion in assets under management. CECP helps companies transform their strategy by providing benchmarking and analysis, convenings, and strategy and communications in the areas of societal/community investment, employee engagement, environmental social governance/sustainable business, diversity equity inclusion, and telling the story.

For more information, visit http://cecp.co.

 

[1] The Fortune 500 data is also reflected in the Global 3,000 data set.

[2] Investing in Society analyzes the latest trends in ESG metrics for companies in the Fortune 500® as ranked by Fortune ® Magazine and the top global 3,000 companies by revenue as listed in the Bloomberg Terminal (the Global 3,000).

Meet a group of highly accomplished women who have received the Cadence’s Women in Technology Scholarship. These women are pursuing technical degrees and were selected to receive a scholarship based on their impressive academic records, work in the community, leadership potential, and recommendations from professors.

Get to know our awardees, the future faces of innovation, by reading more about their journeys and hear from them directly in this short video as they dive into their personal experiences, post-graduation goals, and what drives them to shape the future of technology.

Originally published on Built From Scratch

For 30 years, Team Depot, The Home Depot’s associate volunteer force, has been giving back to communities across the country. All year long, Home Depot associates volunteer their time and sweat equity to address the needs of local communities.

Led by captains across the nation, Team Depot associate volunteers work together to complete projects that have powerful and lasting impacts in their communities.

In observance of National Volunteer Week, we’re highlighting four Team Depot captains who are passionately involved in giving back.

They share what Team Depot means to them.

GEORGE PAGE 
Store Manager at Store #419 in San Tan Valley
AZ Associate for 34 years 
Team Depot volunteer since early 1990s 
Team Depot captain for the past decade

“I joined Team Depot to give back and align myself with the values of The Home Depot. It just feels good to give back and provide service to others. I have been lucky to be supported by district and regional teams that perform any and all tasks that need to be done, big or small!” 
GEORGE PAGE

THERESA HENDERSON
Store Manager at Store #0748 in Manchester, TN
Associate for 33 years
Team Depot volunteer since 2009
Team Depot captain for 11 years

“The true spirit of The Home Depot lies within Team Depot. You get out of it what you put into it. If you have never been to an event, sign up for one and go. All you’ll be giving is a little time and you will really make a difference.”
THERESA HENDERSON

SAM RIVERA
Store Manager at Store #0618in Torrance, CA
Associate for 18 years
Team Depot captain for 7 years
Known for mentoring other associates and captains

“Team Depot has taught me the true meaning of giving in both my professional and personal life. It has been very special to see our captains plan and execute their own projects and make them special for not only the recipient, but all the associates involved as well.”
SAM RIVERA

WENDY WINTERS
Store Manager at Store #4903 in Grand Chute, Wl
Associate for 25 years
Completed first Team Depot project in 1998
Team Depot captain since 2001

“I think Team Depot gives associates a sense of belonging, confidence and something they can feel proud of. We have so many types of projects available to you, and it is so much fun to give back to your community while enjoying time with your peers, outside of work.”
WENDY WINTERS

To learn more about Team Depot and The Home Depot Foundation, visit HomeDepotFoundation.org.

Keep up with all the latest Home Depot news! Subscribe to our bi-weekly news update and get the top Built from Scratch stories delivered straight to your inbox.

Originally published on TriplePundit

There’s a lot of confusion in the sustainability market right now, and I think a lot of it has to do with acronym overload. GRI? TCFD? CSRD? It’s a lot to keep track of, even for specialists.  I’d like to sort out the confusion over one such letter scramble and explain how to distinguish EHS (environment, health and safety) from ESG (environment, social and governance): two disciplines that might seem almost identical, but are actually quite different. Let’s start with a little history on each.

EHS: Making employee safety paramount

Many companies have had EHS departments for decades. The purpose of EHS, first and foremost, is to promote employee safety. However, EHS also often tracks the impact of the business on the outside environment in the context of complying with regulations. The last two parts of EHS (“H” for health and “S” for safety) are well-established practices that report to federal agencies such as the Occupational Safety and Health Administration (OSHA) in the U.S. Over time, EHS has developed a common language for the “E,” referring to environmental contaminants like pollution, waste generation and greenhouse gas emissions. Regulatory bodies around the world have synced on common standards and fines for all components of EHS.

ESG: The new frontier

Comparatively, ESG has a much shorter history. Unlike EHS, ESG has its roots in the financial sector. It was originally conceived as a way for funds to objectively grade holdings on their sustainability measures — for example, tracking diversity, equity and inclusion programs and environmental factors for investors looking for “greener” or more socially conscious funds. 

“E” in this context can refer to a broad array of environmental metrics that move beyond the question, “What waste is this company producing?” and asks, “How is the environment impacting the company, and how is the company impacting the environment?” We call this the “double-materiality” standard. That means the “E” could cover both what pollution the company is emitting (like a traditional EHS measurement would) and many other environmental impacts like materials lifecycles, water usage and reuse, economic impacts on communities affected by the company, procurement practices, and so on.

The “S” and “G” parts of the equation have an equally broad scope that can cover everything from diversity initiatives, to community relations, to executive compensation, to ethical guidelines for employees. Unlike health and safety, these areas are still being developed in the standards and regulatory landscape.

Compared with EHS, ESG is an evolving discipline, and organizations are still developing metrics and best practices to deliver on ESG’s ambitious goals.  

How can EHS complement ESG? 

So while there are areas of overlap — specifically in greenhouse gas emissions and following OSHA standards that might fall under “governance” writ large — ESG’s scope is so much larger that it can’t be seen by looking through a narrow EHS lens. 

Some organizations make the mistake of eliding the two departments, never defining where one department ends and another begins. In many cases, former EHS staffers are being transitioned into senior ESG roles, blurring the lines even further. 

For these reasons, it’s best to think of the two initiatives as complementary, with EHS nested within ESG, which has a broader scope. 
Here are a few typical questions I get about EHS and its relationship to ESG: 

Q: Do I need to start with EHS to begin an ESG initiative?

A: No, though if you want to have an award-winning ESG initiative, it doesn’t hurt to build on what you’ve started already in EHS. Even if you are starting from scratch, EHS represents only part of the whole. The ESG initiative will include EHS topics, but you won’t be able to pass off EHS as a comprehensive ESG program.

Q: How do I “convert” an EHS into an ESG program? 

A: The pathway to a mature ESG program will vary widely, but we recommend having two separate initiatives, one focused on sustainability writ large (ESG) and another that focuses on core health and safety compliance. The most important thing is to realize that, professionally, EHS and ESG are two distinct skillsets. We don’t recommend simply adding “sustainability” in an EHS job description after you’ve made the hire, then calling it a day on ESG.

Q: If I’m already measuring EHS metrics, can I use that data for ESG as well? 

A: Probably, but EHS data alone will not cover everything you need. One common misperception is that health and safety initiatives within EHS can substitute for social and governance initiatives within ESG — for example, that a safety initiative dealing with ergonomics (typically a health and safety issue) could also count as improving the social aspects of the workplace. Or that the compliance and regulatory aspects of EHS could check off some “good governance” boxes on the ESG side. 

Asking EHS staffers to cover everything that falls under ESG’s “S” and “G” categories is like asking a general practice doctor to diagnose and plan treatment for a tendon tear in your knee. The GP might give you some well-informed advice, but you’re probably better off going to the knee specialist if you want to get it permanently fixed. 

We’re seeing a bit of an ESG gold rush as sustainability becomes a must-have for investor funds, and new standards and regulations for things like value-chain emissions (so-called Scope 3) have either been released or are coming out soon. In the rush to get an ESG program up and running, it may be tempting to essentially rebrand EHS and call it a day. But that would be a mistake. The better move is to treat your existing EHS program as a building block while figuring out what kind of ESG program you want to build. 

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

Image credit: Naiyana/Adobe Stock

Energized by Edison

By Ron Gales ENERGIZED by Edison Writer

Providing bill relief for millions of lower-income customers is central to a proposal Southern California Edison filed today with the California Public Utilities Commission. The proposal would also lower the amount all residential customers pay for each kilowatt-hour of electricity while increasing transparency in their bills. 

Because of a recently passed state law (Assembly bill 205), the commission is holding a proceeding to implement a fixed charge on electric bills, based on a household’s income level. This means that customers from lower-income households would pay a lower fixed charge than those from higher-income households. 

“We understand that our customers are dealing with rising costs of all kinds and are working to keep customers’ bills as manageable as possible,” said SCE President and CEO Steven D. Powell. “SCE believes an income-based fixed charge will provide benefits to millions of customers, particularly those most in need of energy bill relief. It will also make it easier for more Californians to afford clean energy technologies.”

How would it work? 

The proceeding will focus on basing electric bills on two main charges:

A monthly fixed charge to cover certain fixed costs of providing electric service. For example, the costs of safely building, maintaining and operating the electric grid, of providing customer support, and the cost of state initiatives to help income-qualified customers and energy-efficiency programsAn energy charge based on the electricity the customer uses during their billing period.

While these would not represent new or additional charges, they would restructure how electric bills are calculated.

Under the proposal, SCE’s approximately 1.2 million lower-income customers would receive an average 16%-21% bill reduction, and about half of SCE’s customers would see lower bills, assuming no change in electricity use. Rates for each unit of electricity consumed (kilowatt-hours) would decrease by about 33% for all residential customers. 

The proposal also recommends the monthly fixed charge for SCE’s lower-income customers be as low as $15 but no greater than $20; and the highest fixed charge, for customers in the top 19% of earners, be $85.

If adopted, the proposal would make monthly bills more predictable for customer planning purposes. It would also support California’s climate and energy policies by making the use of clean energy technologies, such as electric vehicles and heat pumps, more affordable, particularly for lower-income families. 

The proposal recommends that customers’ income verification be managed by a qualified, independent state agency or third party; the utilities would not manage nor have direct access to such data. 

The proceeding is expected to last through mid-2024. 

Learn more about SCE’s work to lower energy bills at sce.com/customer-service/working-for-you.

Every day, Covia helps improve our local communities by donating to local food banks, advancing the safety and health of first responders, and building key relationships in our local communities. To further support impactful community engagement and encourage Team Member volunteerism, Covia launched Covia Cares Action Days. This initiative provides each Covia location with the opportunity to dedicate at least a full workday to a volunteer effort or cause that is important to them.

For a recent Covia Cares Action Day, the Covia Team Members at the Camden, Tennessee, facility spent three days at Second Harvest Food Bank’s Ray Smith Family Distribution Center sorting and packing food for their local community. The Camden facility has been working with the Second Harvest for the past three years, supporting the food bank’s efforts to advance hunger solutions for 46 counties near the Camden facility.

Covia’s approach to making a positive impact on our communities relies on our ability to understand their needs and then do everything we can to help meet them. Our Team Members – each and every one – play a critical role in helping us meet these important objectives, and we are grateful for their ongoing dedication to ensuring Covia remains a responsible corporate citizen and welcomed neighbor.

To learn more about Covia’s Community Impact and Philanthropy, please see the 2021 ESG Report (https://www.coviacorp.com/esg/documents/).

Hut Life

We all know that representation matters, and this is especially important in business. In a new series for 2023, Pizza Hut LLC is showcasing one of its franchisees for each heritage month (Black History Month, Women’s History Month, etc.) to have a chance to get to know them more personally; learn more about their culture, background and traditions; and celebrate the diversity represented within the Pizza Hut® System.

We recently sat down with Pizza Hut franchisee Premila Vishwanath, owner of Tex Food, LLC, to learn more about her background and career journey, hear some of the challenges she’s faced in business and discover what advice she would give aspiring business owners.

Tell us a little more about your career and growth journey with the company.

“I began my career at a Taco Bell restaurant in California, working my way up to a position at the corporate office. After 15 years of working at Taco Bell and Yum! Brands, I expressed my desire to become a franchisee and now, I’ve been a Pizza Hut franchisee for 12 years – growing from four restaurants to 14. It’s been a great journey so far and very rewarding – I’m surprised how time flies. I guess you don’t realize how quick time is going when you enjoy what you do. I’ve been on the IPHFHA board for a year now (thank you to all my fellow franchisees who nominated and elected me!), and it’s been a privilege to serve the franchise community.”

What made you choose to be a Pizza Hut franchise owner?
“After many years at Yum! Brands, I had the opportunity to become a franchisee for Pizza Hut. Through my positive experiences with Yum! Brands, I was sure that starting my first franchise with Pizza Hut was the right decision. I’m extremely grateful to those who assisted and supported me to get where I am today. Transitioning from a corporate employee to a franchisee, I was provided with guidance and advice by various members of the Pizza Hut community. Throughout my 12 years of experience as a franchisee, I can say that the company’s mentorship and ongoing support has made the process of being a Pizza Hut franchise owner achievable.”

As a female business owner, have you experienced any career challenges and, if so, how did you overcome them?
“Although there have been hardships in my career, I would say that I did well for myself as a woman and a minority to be able to climb the corporate ladder. However, that is not to say I haven’t experienced some hardships along the way as a female entrepreneur, especially around growth opportunities. There is undeniably a gap in the number of female franchisees across the food industry as a whole and I hope to be a driving force in closing the gap. Also, there are always going to be career challenges, but the way you react to them determines how quickly or easily you can overcome them. I am a very persistent person, and I never lose sight of my career goals. I have to say persistence and tenacity are how I have been able to overcome any challenges I’ve faced.”

How do you measure success?
“To measure one’s success, you have to first define what success looks like to you, as it is a relative term. For me, success is being in a better state than where I was before, growing with the brand, and developing and taking my tenured and loyal employees to grow with me.”

How do you support diverse communities and what can other business leaders do to provide more support and create a more inclusive community?
“At Tex Food, LLC, we believe in creating a culture of inclusivity and do not tolerate discrimination of any kind. I think every leader knows that the company culture starts at the top with them. Business leaders should connect with employees and provide employees a safe space to provide feedback. Leaders can also recognize other’s potential, regardless of their background, and foster/develop these potentials into valuable skills. This helps make all employees feel valued and feel like their cultural differences are being celebrated. My humble beginning, along with my empathy, creates a safe space for my team to reach out to me at any time.”

Who is a woman that has been your biggest inspiration – both in life and business?
“I have always admired Indra Nooyi, former CEO of Pepsi, since she is an Indian-born American businesswoman like me. When listening to her interviews, I often relate to both her professional and personal experiences. She has talked about being promoted because of her hard work, something that inspires me because I have always placed a great importance on putting in time and effort to accomplish my goals. I also want to add that the Pizza Hut System has a few women who are respected by both men and women in the System that I also respect highly. To name a couple: Joyce Lunsford, Pizza Hut franchisee; and Lauren Leahy, Pizza Hut’s former Chief Legal Officer (now General Manager of Pizza Hut Canada). They both inspire me and serve as excellent examples of powerful and accomplished women in business.”

What do women need to succeed in business?
“First and foremost, women have to believe in themselves. Women should network to build relationships with other sophisticated and experienced business owners and potential mentors. Regardless of position or status, it is important to never stop learning. Additionally, women should not be afraid to ask questions, speak up, and share their perspectives. Lastly, I think women need to be persistent.”

What is your best piece of advice for other women wanting to start their own business or become a franchisee?
“Do your research and find a concept/franchise that has a good reputation for how they treat their franchisees. You want to be associated with a brand/concept whose culture is positive and one that encourages diversity. Don’t be afraid to take risks. No one achieves greatness without taking risks. If you dream it, if you want it, go get it.”

Is there a quote that motivates you?
“I have three favorites –

Motivation gets you started but habit keeps it going.The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack in will.Gratitude is the best attitude.

If you could tell your child-self some advice, what would it be?
“Do not be afraid of new opportunities to grow or diversify. Anything can be achieved if you put your mind and heart to it.”

It’s hard for employees to engage with giving and volunteering programs…when they don’t even know they exist. Which is why an effective communications strategy is critical.

As the person charged with engagement in these programs, your first challenge is to simply to cut through the clutter to get your employees’ attention. From there, you need to keep their attention long enough to pique their interest and then make it easy for them to take an action. Objectively it’s a simple equation, but as you probably know, it’s far from easy.

In our most recent RealTalk webinar, we broke down six principles to keep in mind as you formulate your employee engagement communications approach this year. We’ve summarized the highlights from our discussion in this blog (but be sure to watch for a few extra insights!).

Implementing and practicing these 6 principles is no easy task, so take on what you can today and come back for more when you’re ready (or put Social REV’s ready-to-use templates and tools to work!). If there’s a principle, step, or tip we’re missing be sure to let us know! We’d love to hear what’s working for your program right now.

READ THE FULL BLOG.

Originally published on Devex

By Sara Jerving

On a recent afternoon in Nairobi, Kenya, about two dozen scientists gathered, peering at a screen that to the untrained eye looked like gibberish — rows of letters but no coherent words.

The scientists were attending a training to advance skills in the analysis of genomic sequences — a process where the genetic code of an organism is turned into data which reveals information about its characteristics. It’s an important technique in public health to determine what pathogen is inflicting a community and whether it’s mutating.

Before the COVID-19 pandemic, only seven African countries had national laboratories equipped to do this. But the need to identify new variants of the virus that causes COVID-19 forced laboratories to ramp up this expertise in an unprecedented way.

During the first year of the pandemic, the Africa Pathogen Genomics Initiative was launched as a partnership to close gaps in genomics capacity. As part of that partnership, over the past two years, American biotechnology company Illumina donated over $9 million in sequencing systems, reagents, and training to the continent.

Continue reading the full article here

Originally published in Tapestry’s 2022 Corporate Responsibility Report Report

Tapestry Gives is Tapestry’s global employee engagement program. It provides our employees with the tools and resources they need to give back to their communities and empowers them to volunteer with the causes that align with their passions.

VOLUNTEERING AT TAPESTRY

Volunteering is core to who we are as a purpose-led company with employees who Stretch What’s Possible with the generosity of their time, talent and resources.

The credit for achieving our 2025 volunteer goal early goes to the thousands of employees across our brands and regions, who even through unprecedented times, prioritized making a difference in their local communities. All global employees, including part- and full-time corporate, field and fulfillment center, receive up to one paid day a year of Volunteer Time Off to support causes they are most passionate about.

Our employees take pride in supporting their local communities individually and as a team, and Tapestry Gives allows them to give back in the ways that work best for them through virtual volunteering options, flexible scheduling and a localized approach. This localized approach is spearheaded by our +250 Employee Volunteer Ambassadors around the world who champion our culture of service and bring Tapestry Gives to life.

FY2022 marked the most volunteer hours completed by our employees since we set our 2025 goal in 2018. Our employees served as mentors for first-generation college students from underrepresented backgrounds, participated in letter-writing campaigns to bring comfort and joy to those in need and served at local soup kitchens and food pantries to combat food insecurity.

MATCHING GIFTS

To encourage employee involvement and recognize their contributions to their communities, The Tapestry Foundation matches the personal charitable giving of eligible employees in North America up to $10,000 each year, with up to $1,000 matched 2:1.

Since the program’s inception in 2010, we have donated over $4.8 million, including almost $400K in FY2022. This is in tandem with Tapestry’s Dollars for Doers program, which provides micro-grants to eligible non-profits based on employee volunteer hours.

Read more