Tag: 3BL

What You Need to Know

Biodiversity risk is more nuanced and complex than many investors think. For instance, there’s a widespread belief that deforestation poses the biggest nature-related risk for most portfolios. But when we applied our proprietary biodiversity risk-assessment framework for a client, we found that water risk—not deforestation—was the portfolio’s biggest exposure. Our analysis of the MSCI AWCI Index using the same framework shows water risk is elevated for many companies, highlighting just how important it is to assess biodiversity risk accurately.

16%	35%	14%
of the MSCI ACWI is exposed to the highest level of biodiversity risk	the share of MSCI ACWI for which water risk is high or very high	the share of MSCI ACWI for which deforestation risk is high or very high

Authors

Sara Rosner| Director—Responsible Investing Research
David Hutchins, FIA| Portfolio Manager—Multi-Asset Solutions
Henry Smith, CFA| Investment Strategist—Multi-Asset Solutions

The importance of biodiversity as a nature-related risk in investors’ portfolios has become better understood in the past few years. Investors are beginning to appreciate how complex and nuanced biodiversity risk can be. For example, there’s a widespread assumption that deforestation is the biggest biodiversity risk in many portfolios. That’s understandable, given media attention around the topic, and because large-scale deforestation contributes to climate change, which can have a material impact on investments across the globe.

But such assumptions can fall short of reality. We recently analyzed the biodiversity risks in the equity allocations of a large UK pensions provider¹ and found that water stress, not deforestation, was the biggest risk (Display).

This may seem surprising, given that the impacts of water stress tend to be localized and not so obviously global as those of deforestation and its links to climate.

But this particular client is not an outlier. Our analysis of the ENCORE² industry biodiversity-risk database shows that the proportion of the MSCI ACWI Index for which water-related risk is high or very high is 35%—not very different from the client’s 31%. (The index also has a bigger exposure to high or very high deforestation risk—about 14%.) The insight underscores how important it is for investors and investment managers to analyze and identify their nature-related exposures correctly.

To that end, we have developed a proprietary risk-assessment framework that can identify nature-risk exposures across portfolios at the sub-industry level. In turn, this enables analysts to assess and engage with the potentially high-risk companies identified. We believe the framework may help reduce portfolio risk and unlock better returns.

Mapping Portfolio Biodiversity Risks

According to the Taskforce on Nature-related Financial Disclosures, nature-related risks are potential threats to an organization arising from dependency and impact on nature—the organization’s own, and those of society too. Dependency and impact are, respectively, physical and transition risks.

For example, fisheries that rely on water quality to sustain their fish stocks have a high dependency on nature, as they are exposed to the physical risk that water quality might deteriorate. Mining companies and property developers have a high impact on nature; as laws, regulations and trade practices change (transition) to reflect society’s growing awareness of biodiversity risk, they may become exposed to legal, reputational, market and other risks.

Using dependency, impact and related risks as a framework, we draw on the ENCORE database to map biodiversity risk exposure at the GICS³ subindustries level (Display).

The industries that fall in the upper right quadrant have both high dependency and impact and, therefore, the most nature-related risk. Our analysis shows that 15.7% of MSCI ACWI falls into this quadrant. For the equity portfolio in our client case study, the proportion is significantly lower, at nearly 10% (Display).

Understanding how dependency and impact risks are distributed across industries in a portfolio is a vital first step, but it’s also important to dive deeper to understand the risks at the issuer level. The ENCORE database lists risks individually and classifies them according to whether they are dependencies or impacts. Using this information, we can apply the framework to identify specific risks across a portfolio. This was how we discovered the extent to which the case-study portfolio’s biodiversity risks were dominated by water-related exposures (Display).

Most of these exposures fell in the dependencies category, but two of the top five impact exposures were also water-related—area of freshwater use, and emissions of toxic soil and water pollutants. This level of information is potentially helpful in deciding where to focus efforts to mitigate the portfolio’s biodiversity risks.

Having established which industries in a portfolio have the highest nature risk, we can identify individual holdings within those industries that we may wish to target for further research to understand which biodiversity risks are most material for them.

Company Engagements: Consistency and Comparability

For active portfolios managed by AB, this level of research may also lead us to engage⁴ directly with issuers to better understand their exposures and, if appropriate, work with them to help mitigate risks. We decide which issuers to engage with on a case-by-case basis, according to whether engagement is in clients’ best interests. When undertaking an engagement for clients whose strategy is implemented mostly with third-party funds, we partner with appointed managers to ensure that biodiversity is a priority for them. The engagement process may require multiple meetings over time to monitor issuers’ progress in achieving their risk-reduction goals.

We have engaged on biodiversity risk with issuers in various client portfolios. These issuers include, for example, Linde, a UK-based supplier of industrial gases; US water-treatment company Ecolab; and Swiss processed foods group Nestlé (Display).

All fall in the top-right quadrant of the risk matrix. Linde ranks high for impact and moderate for dependency; Ecolab also ranks high for impact but higher than Linde for dependency. Nestlé ranks highest of the three on both counts. Below, we use Linde and Ecolab to illustrate how we engage on water-related risks and Nestlé on deforestation-related risks.

The process begins with defining the objective of the engagement. In the case of Linde, we wanted to know the water-risk implications of its hydrogen production—especially its move to producing green hydrogen. Traditional hydrogen production uses steam methane reforming, in which steam reacts with methane to produce hydrogen. Green hydrogen, which is powered by renewables, uses an electric current to split water into hydrogen and oxygen. Both processes are water intensive.

When engaging with Linde, we noted that it had reported considerable water savings, but its steam consumption had increased. The company explained that this had been possible because of a move to closed-loop production processes in which steam is fed back into the production cycle. It planned to use a similar technique to conserve water when producing green hydrogen. We asked Linde to consider introducing a company-wide water-usage target, and it said it planned to do so soon.

With Ecolab, we wanted an update on its effort to help customers conserve water and how it might be affected by plans to service water-hungry AI data centers. While the company had made considerable progress with conservation (226 billion gallons out of a 300 billion target), it noted that further gains were being complicated by increased water demand. But the expansion of data centers and utilities to power them was also creating opportunities for new efficiencies in energy and water supply, and the company was looking for commercial water-solution opportunities across the AI value chain.

Our engagement with Nestlé on deforestation illustrates some of the challenges of risk mitigation and the value of monitoring progress. In 2010, the company aimed to eliminate deforestation from five key supply chains—palm oil, soy, meat, paper and sugar—by 2022. It progressed well except for palm oil, which is sourced from high-risk countries: deforestation in the chain had fallen only 70% by 2020. We tracked progress, and in 2021 the company, aided by satellite and field monitoring, had eliminated deforestation across 90% of the chain. Its next goal was to be deforestation-free in all supply chains by the end of 2025.

Not Just Risks, but Opportunities, Too

Biodiversity exposures are material risks for many portfolios and need to be addressed appropriately, in our view. Our framework—supported by specialist, third-party industry data—can show how these exposures are distributed across portfolios and identify issuers with high nature-related risks. Combined with fundamental research and, where appropriate, issuer engagement and stewardship, it can lead to a deep understanding of issuer- and portfolio-level risks and the actions needed to mitigate them.

But it’s not just about risk: it’s about opportunity, too. For example, our engagement with Linde improved our understanding of how green hydrogen—an important step in the move to a low-carbon economy—could be produced in a way that conserves water usage. And Ecolab helped us understand how the growth in AI data centers might lead to enhanced water and energy efficiencies and related commercial opportunities.

As part of a broad-based active investment strategy, the framework, in our view, can not only identify and mitigate nature-related risks in portfolios, but it may help unlock better returns, too.

¹ The analysis applied the framework to the client firm’s default investment offering for UK defined contribution (DC) pension savers to illustrate how the framework can surface biodiversity-related risks and highlight potential areas for deeper review. The results are provided for illustrative purposes only and are not intended as investment advice.

² The Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE) database is maintained by Global Canopy, the UN Environment Programme Finance Initiative and UN Environment Programme World Conservation Monitoring Centre.

³ Global Industry Classification Standard. Among the Standard’s various categories, the category “subindustries” provides the most granular classification of industries.

⁴ AB engages issuers where it believes the engagement is in the best interest of its clients.

The authors would like to thank Max Lulavy, Responsible Investing Research Analyst at AB, for his contributions to this article.
 

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.

References to specific securities discussed are for illustrative purposes only and should not to be considered recommendations by AllianceBernstein L.P. It should not be assumed that investments in the securities mentioned have necessarily been or will necessarily be profitable.

The “target date” shown in a fund’s name refers to the approximate year when a pension scheme member expects to retire and begin withdrawing from his or her account. Target date funds gradually adjust their asset allocation, lowering risk as a member nears retirement. Investments in target date funds are not guaranteed against loss of principal at any time, and account values can be more or less than the original amount invested—including at the time of the fund’s target date. Also, investing in target date funds does not guarantee sufficient income in retirement.

MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.

The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.

Learn more about AB’s approach to responsibility here.

What You Need to Know

Biodiversity risk is more nuanced and complex than many investors think. For instance, there’s a widespread belief that deforestation poses the biggest nature-related risk for most portfolios. But when we applied our proprietary biodiversity risk-assessment framework for a client, we found that water risk—not deforestation—was the portfolio’s biggest exposure. Our analysis of the MSCI AWCI Index using the same framework shows water risk is elevated for many companies, highlighting just how important it is to assess biodiversity risk accurately.

16%	35%	14%
of the MSCI ACWI is exposed to the highest level of biodiversity risk	the share of MSCI ACWI for which water risk is high or very high	the share of MSCI ACWI for which deforestation risk is high or very high

Authors

Sara Rosner| Director—Responsible Investing Research
David Hutchins, FIA| Portfolio Manager—Multi-Asset Solutions
Henry Smith, CFA| Investment Strategist—Multi-Asset Solutions

The importance of biodiversity as a nature-related risk in investors’ portfolios has become better understood in the past few years. Investors are beginning to appreciate how complex and nuanced biodiversity risk can be. For example, there’s a widespread assumption that deforestation is the biggest biodiversity risk in many portfolios. That’s understandable, given media attention around the topic, and because large-scale deforestation contributes to climate change, which can have a material impact on investments across the globe.

But such assumptions can fall short of reality. We recently analyzed the biodiversity risks in the equity allocations of a large UK pensions provider¹ and found that water stress, not deforestation, was the biggest risk (Display).

This may seem surprising, given that the impacts of water stress tend to be localized and not so obviously global as those of deforestation and its links to climate.

But this particular client is not an outlier. Our analysis of the ENCORE² industry biodiversity-risk database shows that the proportion of the MSCI ACWI Index for which water-related risk is high or very high is 35%—not very different from the client’s 31%. (The index also has a bigger exposure to high or very high deforestation risk—about 14%.) The insight underscores how important it is for investors and investment managers to analyze and identify their nature-related exposures correctly.

To that end, we have developed a proprietary risk-assessment framework that can identify nature-risk exposures across portfolios at the sub-industry level. In turn, this enables analysts to assess and engage with the potentially high-risk companies identified. We believe the framework may help reduce portfolio risk and unlock better returns.

Mapping Portfolio Biodiversity Risks

According to the Taskforce on Nature-related Financial Disclosures, nature-related risks are potential threats to an organization arising from dependency and impact on nature—the organization’s own, and those of society too. Dependency and impact are, respectively, physical and transition risks.

For example, fisheries that rely on water quality to sustain their fish stocks have a high dependency on nature, as they are exposed to the physical risk that water quality might deteriorate. Mining companies and property developers have a high impact on nature; as laws, regulations and trade practices change (transition) to reflect society’s growing awareness of biodiversity risk, they may become exposed to legal, reputational, market and other risks.

Using dependency, impact and related risks as a framework, we draw on the ENCORE database to map biodiversity risk exposure at the GICS³ subindustries level (Display).

The industries that fall in the upper right quadrant have both high dependency and impact and, therefore, the most nature-related risk. Our analysis shows that 15.7% of MSCI ACWI falls into this quadrant. For the equity portfolio in our client case study, the proportion is significantly lower, at nearly 10% (Display).

Understanding how dependency and impact risks are distributed across industries in a portfolio is a vital first step, but it’s also important to dive deeper to understand the risks at the issuer level. The ENCORE database lists risks individually and classifies them according to whether they are dependencies or impacts. Using this information, we can apply the framework to identify specific risks across a portfolio. This was how we discovered the extent to which the case-study portfolio’s biodiversity risks were dominated by water-related exposures (Display).

Most of these exposures fell in the dependencies category, but two of the top five impact exposures were also water-related—area of freshwater use, and emissions of toxic soil and water pollutants. This level of information is potentially helpful in deciding where to focus efforts to mitigate the portfolio’s biodiversity risks.

Having established which industries in a portfolio have the highest nature risk, we can identify individual holdings within those industries that we may wish to target for further research to understand which biodiversity risks are most material for them.

Company Engagements: Consistency and Comparability

For active portfolios managed by AB, this level of research may also lead us to engage⁴ directly with issuers to better understand their exposures and, if appropriate, work with them to help mitigate risks. We decide which issuers to engage with on a case-by-case basis, according to whether engagement is in clients’ best interests. When undertaking an engagement for clients whose strategy is implemented mostly with third-party funds, we partner with appointed managers to ensure that biodiversity is a priority for them. The engagement process may require multiple meetings over time to monitor issuers’ progress in achieving their risk-reduction goals.

We have engaged on biodiversity risk with issuers in various client portfolios. These issuers include, for example, Linde, a UK-based supplier of industrial gases; US water-treatment company Ecolab; and Swiss processed foods group Nestlé (Display).

All fall in the top-right quadrant of the risk matrix. Linde ranks high for impact and moderate for dependency; Ecolab also ranks high for impact but higher than Linde for dependency. Nestlé ranks highest of the three on both counts. Below, we use Linde and Ecolab to illustrate how we engage on water-related risks and Nestlé on deforestation-related risks.

The process begins with defining the objective of the engagement. In the case of Linde, we wanted to know the water-risk implications of its hydrogen production—especially its move to producing green hydrogen. Traditional hydrogen production uses steam methane reforming, in which steam reacts with methane to produce hydrogen. Green hydrogen, which is powered by renewables, uses an electric current to split water into hydrogen and oxygen. Both processes are water intensive.

When engaging with Linde, we noted that it had reported considerable water savings, but its steam consumption had increased. The company explained that this had been possible because of a move to closed-loop production processes in which steam is fed back into the production cycle. It planned to use a similar technique to conserve water when producing green hydrogen. We asked Linde to consider introducing a company-wide water-usage target, and it said it planned to do so soon.

With Ecolab, we wanted an update on its effort to help customers conserve water and how it might be affected by plans to service water-hungry AI data centers. While the company had made considerable progress with conservation (226 billion gallons out of a 300 billion target), it noted that further gains were being complicated by increased water demand. But the expansion of data centers and utilities to power them was also creating opportunities for new efficiencies in energy and water supply, and the company was looking for commercial water-solution opportunities across the AI value chain.

Our engagement with Nestlé on deforestation illustrates some of the challenges of risk mitigation and the value of monitoring progress. In 2010, the company aimed to eliminate deforestation from five key supply chains—palm oil, soy, meat, paper and sugar—by 2022. It progressed well except for palm oil, which is sourced from high-risk countries: deforestation in the chain had fallen only 70% by 2020. We tracked progress, and in 2021 the company, aided by satellite and field monitoring, had eliminated deforestation across 90% of the chain. Its next goal was to be deforestation-free in all supply chains by the end of 2025.

Not Just Risks, but Opportunities, Too

Biodiversity exposures are material risks for many portfolios and need to be addressed appropriately, in our view. Our framework—supported by specialist, third-party industry data—can show how these exposures are distributed across portfolios and identify issuers with high nature-related risks. Combined with fundamental research and, where appropriate, issuer engagement and stewardship, it can lead to a deep understanding of issuer- and portfolio-level risks and the actions needed to mitigate them.

But it’s not just about risk: it’s about opportunity, too. For example, our engagement with Linde improved our understanding of how green hydrogen—an important step in the move to a low-carbon economy—could be produced in a way that conserves water usage. And Ecolab helped us understand how the growth in AI data centers might lead to enhanced water and energy efficiencies and related commercial opportunities.

As part of a broad-based active investment strategy, the framework, in our view, can not only identify and mitigate nature-related risks in portfolios, but it may help unlock better returns, too.

¹ The analysis applied the framework to the client firm’s default investment offering for UK defined contribution (DC) pension savers to illustrate how the framework can surface biodiversity-related risks and highlight potential areas for deeper review. The results are provided for illustrative purposes only and are not intended as investment advice.

² The Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE) database is maintained by Global Canopy, the UN Environment Programme Finance Initiative and UN Environment Programme World Conservation Monitoring Centre.

³ Global Industry Classification Standard. Among the Standard’s various categories, the category “subindustries” provides the most granular classification of industries.

⁴ AB engages issuers where it believes the engagement is in the best interest of its clients.

The authors would like to thank Max Lulavy, Responsible Investing Research Analyst at AB, for his contributions to this article.
 

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.

References to specific securities discussed are for illustrative purposes only and should not to be considered recommendations by AllianceBernstein L.P. It should not be assumed that investments in the securities mentioned have necessarily been or will necessarily be profitable.

The “target date” shown in a fund’s name refers to the approximate year when a pension scheme member expects to retire and begin withdrawing from his or her account. Target date funds gradually adjust their asset allocation, lowering risk as a member nears retirement. Investments in target date funds are not guaranteed against loss of principal at any time, and account values can be more or less than the original amount invested—including at the time of the fund’s target date. Also, investing in target date funds does not guarantee sufficient income in retirement.

MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.

The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.

Learn more about AB’s approach to responsibility here.

AMSTERDAM, HONG KONG, OAKLAND, Calif., February 4, 2026 /3BL/ – Cascale and Worldly today released Navigating Global Water Regulation: Implications for the Textile and Consumer Goods Sector, examining how intensifying water scarcity and tightening regulation are reshaping the operating environment for the apparel, textile, and wider consumer goods sector.

The analysis maps evolving water policy across key production regions in Asia, the European Union, and the United States. It connects regulatory developments to operational, financial, and reputational risks, and outlines how companies can strengthen resilience as water becomes a strategic business concern alongside climate and supply chain due diligence.

With the global apparel and textile industry consuming an estimated 93 billion cubic meters of water annually and contributing roughly 20 percent of global industrial wastewater, water regulation is accelerating in regions already facing acute stress. Governments are responding with stricter controls on water use, wastewater discharge, and pollution, particularly in major manufacturing hubs.

The report highlights significant regulatory momentum in China and Vietnam, continued but uneven enforcement across other Asian production countries, expanding disclosure requirements in the European Union, and regulatory uncertainty in the United States. Together, these trends underscore the need for companies to elevate water risk from a site-level issue to a governance and strategy priority.

“Preserving our planet’s freshwater supplies is a top priority — water is life. Across the globe, legislators are responding by introducing new regulations, and water is quickly becoming a defining constraint on how and where the industry can operate,” said Elisabeth von Reitzenstein, senior director of policy and public affairs at Cascale. “This analysis is designed to help companies move beyond reacting to individual laws and instead understand the bigger picture. When water risk is integrated into sourcing, governance, and performance management, it becomes possible to protect both business continuity and local communities.”

The report also outlines practical actions companies can take now, including mapping facilities in water-stressed basins, validating wastewater compliance, strengthening supplier data collection, and embedding water considerations into sourcing and contingency planning. These steps are increasingly critical as regulation shifts from focusing on efficiency alone toward source sustainability and foundational environmental performance.

“Water policy provides essential direction for where supply chain action matters most,” said JR Siegel, vice president of sustainability at Worldly. “Leading companies rely on Worldly’s standardized, decision-grade data to prioritize action at the facility level—strengthening risk management, investment decisions, and supply chain resilience ahead of disruption.”

Key Takeaways

• Water regulation is accelerating globally. Governments are strengthening controls on water use, wastewater discharge, and pollution, particularly in water-stressed production regions.
• Risk exposure is uneven but growing. Major apparel and textile hubs in Asia face tightening regulation and enforcement, while EU disclosure requirements expand and U.S. policy remains uncertain.
• Water is now a strategic business issue. Companies are moving from treating water as a site-level concern to integrating it into governance, sourcing, and risk management decisions.
• Data and standardization matter. Visibility into water use, wastewater management, and basin-level risk is essential to manage compliance, protect operations, and maintain credibility.
• Early action builds resilience. Companies that invest now in efficient, compliant, and transparent water management are better positioned as scarcity and regulation intensify.

The publication reflects Cascale and Worldly’s shared commitment to supporting the industry with credible, actionable insight. Cascale’s Higg Index tools, developed in collaboration with Worldly, in addition to Worldly’s comprehensive data and analytics platform, help connect evolving regulation to measurable performance improvement at scale.

As water scarcity intensifies and enforcement strengthens across regions, the report concludes that the cost of inaction — from production disruptions to reputational damage — is likely to exceed the investment required today. Proactive, verifiable water management is increasingly a strategic imperative for long-term resilience in the consumer goods industry.

ABOUT CASCALE

Cascale is the global nonprofit alliance empowering collaboration to drive equitable and restorative business practices in the consumer goods industry. Formerly known as the Sustainable Apparel Coalition, Cascale owns and develops the Higg Index, which is exclusively available on Worldly, the most comprehensive sustainability data and insights platform. Cascale unites over 300 retailers, brands, manufacturers, governments, academics, and NGO/nonprofit affiliates around the globe through one singular vision: To catalyze impact at scale and give back more than we take to the planet and its people.

LinkedIn | Instagram | Facebook | YouTube

ABOUT WORLDLY

Worldly is the leading sustainability and supply chain intelligence platform for the consumer goods industry. The company empowers brands, retailers, and manufacturers to turn verified primary data into insight and action across complex global supply chains.

Trusted by a network of more than 40,000 companies across apparel, footwear, home furnishings, and sporting goods, Worldly provides visibility into environmental and social performance, including carbon, water, chemicals, and labor, at the product, facility, and value-chain levels.

Built on industry-recognized standards, including Cascale’s Higg Index, Worldly translates raw data into actionable intelligence that helps organizations reduce risk, meet evolving regulatory requirements, and drive measurable progress over time.

www.worldly.io

AMSTERDAM, HONG KONG, OAKLAND, Calif., February 4, 2026 /3BL/ – Cascale and Worldly today released Navigating Global Water Regulation: Implications for the Textile and Consumer Goods Sector, examining how intensifying water scarcity and tightening regulation are reshaping the operating environment for the apparel, textile, and wider consumer goods sector.

The analysis maps evolving water policy across key production regions in Asia, the European Union, and the United States. It connects regulatory developments to operational, financial, and reputational risks, and outlines how companies can strengthen resilience as water becomes a strategic business concern alongside climate and supply chain due diligence.

With the global apparel and textile industry consuming an estimated 93 billion cubic meters of water annually and contributing roughly 20 percent of global industrial wastewater, water regulation is accelerating in regions already facing acute stress. Governments are responding with stricter controls on water use, wastewater discharge, and pollution, particularly in major manufacturing hubs.

The report highlights significant regulatory momentum in China and Vietnam, continued but uneven enforcement across other Asian production countries, expanding disclosure requirements in the European Union, and regulatory uncertainty in the United States. Together, these trends underscore the need for companies to elevate water risk from a site-level issue to a governance and strategy priority.

“Preserving our planet’s freshwater supplies is a top priority — water is life. Across the globe, legislators are responding by introducing new regulations, and water is quickly becoming a defining constraint on how and where the industry can operate,” said Elisabeth von Reitzenstein, senior director of policy and public affairs at Cascale. “This analysis is designed to help companies move beyond reacting to individual laws and instead understand the bigger picture. When water risk is integrated into sourcing, governance, and performance management, it becomes possible to protect both business continuity and local communities.”

The report also outlines practical actions companies can take now, including mapping facilities in water-stressed basins, validating wastewater compliance, strengthening supplier data collection, and embedding water considerations into sourcing and contingency planning. These steps are increasingly critical as regulation shifts from focusing on efficiency alone toward source sustainability and foundational environmental performance.

“Water policy provides essential direction for where supply chain action matters most,” said JR Siegel, vice president of sustainability at Worldly. “Leading companies rely on Worldly’s standardized, decision-grade data to prioritize action at the facility level—strengthening risk management, investment decisions, and supply chain resilience ahead of disruption.”

Key Takeaways

• Water regulation is accelerating globally. Governments are strengthening controls on water use, wastewater discharge, and pollution, particularly in water-stressed production regions.
• Risk exposure is uneven but growing. Major apparel and textile hubs in Asia face tightening regulation and enforcement, while EU disclosure requirements expand and U.S. policy remains uncertain.
• Water is now a strategic business issue. Companies are moving from treating water as a site-level concern to integrating it into governance, sourcing, and risk management decisions.
• Data and standardization matter. Visibility into water use, wastewater management, and basin-level risk is essential to manage compliance, protect operations, and maintain credibility.
• Early action builds resilience. Companies that invest now in efficient, compliant, and transparent water management are better positioned as scarcity and regulation intensify.

The publication reflects Cascale and Worldly’s shared commitment to supporting the industry with credible, actionable insight. Cascale’s Higg Index tools, developed in collaboration with Worldly, in addition to Worldly’s comprehensive data and analytics platform, help connect evolving regulation to measurable performance improvement at scale.

As water scarcity intensifies and enforcement strengthens across regions, the report concludes that the cost of inaction — from production disruptions to reputational damage — is likely to exceed the investment required today. Proactive, verifiable water management is increasingly a strategic imperative for long-term resilience in the consumer goods industry.

ABOUT CASCALE

Cascale is the global nonprofit alliance empowering collaboration to drive equitable and restorative business practices in the consumer goods industry. Formerly known as the Sustainable Apparel Coalition, Cascale owns and develops the Higg Index, which is exclusively available on Worldly, the most comprehensive sustainability data and insights platform. Cascale unites over 300 retailers, brands, manufacturers, governments, academics, and NGO/nonprofit affiliates around the globe through one singular vision: To catalyze impact at scale and give back more than we take to the planet and its people.

LinkedIn | Instagram | Facebook | YouTube

ABOUT WORLDLY

Worldly is the leading sustainability and supply chain intelligence platform for the consumer goods industry. The company empowers brands, retailers, and manufacturers to turn verified primary data into insight and action across complex global supply chains.

Trusted by a network of more than 40,000 companies across apparel, footwear, home furnishings, and sporting goods, Worldly provides visibility into environmental and social performance, including carbon, water, chemicals, and labor, at the product, facility, and value-chain levels.

Built on industry-recognized standards, including Cascale’s Higg Index, Worldly translates raw data into actionable intelligence that helps organizations reduce risk, meet evolving regulatory requirements, and drive measurable progress over time.

www.worldly.io

Originally published by Mastercard

2025 has reshaped the U.S. small business landscape in ways few expected. Shifts in economic policy, funding, and market dynamics have created new pressures — and opened new opportunities — for the entire ecosystem.

For Mastercard Strive USA, the key question that emerged early in 2025 was: How do we help small business support organizations — and the entrepreneurs who rely on them — not only weather these shifts, but turn them into opportunity?

Our answer was to deepen the roots of our network, strengthen the foundation of the program, and focus on actions that both strengthened the resilience of our partners and helped them move with confidence into 2026.

The Mastercard Center for Inclusive Growth launched Mastercard Strive USA in 2023 with a bold ambition: to reimagine how the ecosystem equips and supports small businesses, especially those facing the greatest barriers. In Year 1, we focused on turning that vision into a reality while also having an immediate impact. Year 2 was about growing that impact by adding new partners and capabilities at both national and local levels.

Year 3 required a different approach. Faced with fast-moving conditions, partners needed stability, clarity, and practical tools to stay focused on what mattered most: delivering timely, high-quality resources to the entrepreneurs depending on them. Consequently, we focused on reinforcing partner resilience and tightening the connective tissue of the network, backing solutions that strengthen small business financial health at a moment when it mattered more than ever. At the same time, we continued to grow our impact by adding new organizations and solutions to our portfolio.

A more strategic form of growth

As of September 2025, Mastercard Strive USA had reached more than two million small businesses, unlocked nearly $48 billion in capital for entrepreneurs, and engaged with 920 different partners. These numbers reflect not only growing scale, but a more intentional pattern of growth, shaped by the realities of the year.

Long-standing partners such as Community Reinvestment Fund, USA and Accion Opportunity Fund continued to drive national reach. At the same time, new partners like Heartland Forward and Scale Link opened channels into regions and sectors where demand for trusted support accelerated.

Key milestones from our community include:

• Accessity, one of our first innovation fund winners, integrated technology upgrades into their lending process with the goal of becoming more efficient. One notable result: Through a partnership with Radiant Data, they developed and deployed a new credit model to help staff better evaluate borderline cases, which helped drive historical levels of lending for the organization in 2025.
• Community Reinvestment Fund, USA implemented its CRF Exchange product to support enrollment in California IBank’s four loan guarantee programs. Over $1.5 billion has now flowed through CRF Exchange, demonstrating how the tool can be used at significant volume.
• Rural LISC’s Business Development Organization (BDO) Network, which focuses on supporting entrepreneurs in rural communities, provided over 4,500 hours of business coaching, training, and advisory services; hosted 189 workshops or training sessions; and supported the deployment of $775,000 in loans and $120,000 in grants to Community Financial Institutions (CFIs) and Business Support Organizations (BSOs). This work resulted in the creation of 4,826 jobs in rural communities.
• Inclusiv’s Small Business Capital Initiative has helped numerous Community Development Credit Unions (CDCUs) and cooperativas deploy more small business loans by providing new financing tools and education. For example, members transacted nearly $3 million in loans through Inclusiv’s new Loan Participation Marketplace. Graduates of their Small Business Capital Initiative Learning Center also deployed over $69 million in small business loans to entrepreneurs.
• Momentus Securities continues to build out their loan securitization program for small business lenders. Since the beginning of the grant, they have recruited eleven CDFIs and business lenders to participate in creating the secondary market for CDFI loans. They have purchased over $46 million in loans and sold over $41 million in assets to dae.

We also invested in strengthening local ecosystems in Alabama, Michigan, Georgia, California, and the DMV region (Washington, DC; Maryland, and Virginia). New partners supporting this work include Access to Capital for Entrepreneurs (Georgia), the Washington Area Community Investment Fund (Washington, DC), and the new Entrepreneurship Center for Growth and Excellence (Alabama).

Since launching the program, Mastercard Strive USA has supported 45 different organizations shaping the nation’s small business support infrastructure.

Building a more connected community

This year made one thing clear: connection is a key component of resilience. When partners share what they’re seeing, what they’re testing, and where they’re feeling strain, the entire network becomes stronger.

In Year 3 we launched several initiatives to strengthen connections and collaboration among the organizations we support, reflecting our goal to build a portfolio that is greater than the sum of its parts.

To make collaboration easier, we launched a new low-barrier collaboration fund for our partners, designed to spark new relationships and accelerate promising ideas without adding administrative burden. To date, the fund has supported six initiatives — from exploring the launch of a new CDFI to enabling data sharing among leading industry organizations. The through-line is a simple premise: remove friction and let partners explore what’s possible.

Our second annual grantee convening in November took place in Detroit, Michigan — and it embodied that same spirit of connection. More than 50 representatives from over 25+ partner organizations gathered to reflect on the crosscurrents shaping their work, compare notes on what they’re hearing from small businesses and peers, and identify shifts needed to strengthen resilience in 2026. We also organized workshops on topics such as strategic foresight, which helped our partners envision what the small business sector might look like in ten years so they could start preparing for that new reality now.

The conversations were candid, pragmatic, and rooted in the real experiences of entrepreneurs — exactly what this moment calls for.

Bringing a clearer voice to the field

The insights we gathered from more than 30 ecosystem leaders early in the year surfaced six key shifts our network sees as essential for long-term entrepreneurial success. We carried those insights forward through a focused push that engaged both public and private audiences, including coverage in American Banker and Impact Alpha.

The response has been encouraging. Partners across the country are using the insights to inform planning, refine strategies, and align their teams. We’ll carry momentum into 2026 by sharing new examples of what’s working — especially from organizations that have navigated this year’s volatility with resilience.

Looking ahead

Change — and being nimble enough to adapt to that change — will remain a defining feature of the small business environment in 2026. Technology, capital flows, and regional economic conditions are all shifting at different speeds, and partners will continue to face both pressure and possibility.

What we know for certain is that small business support organizations do their best work when they have strong foundations and strong networks. That is where we will continue to focus our energy.

As we enter 2026, we do so with:

• A more connected and resilient partner community.
• A clearer view of where entrepreneurs need stability most.
• A growing set of tools and learnings that can help the field move forward with confidence.

Through every shift, one commitment remains constant: ensuring that small businesses in every community can build stability, seize opportunity, and grow on their own terms.

We are grateful for the work our partners do every day — and ready for what comes next, together.

Continue reading here.

Follow along Mastercard’s journey to connect and power an inclusive, digital economy that benefits everyone, everywhere.

Originally published on newsroom.marykay.com

At Baylor Scott & White Health, a groundbreaking initiative is underway aiming to revolutionize early detection and intervention strategies for better breast cancer survivorship and beyond. Led by Oncology Chief Dr. Ronan Kelly, the Texas Cancer Interception Institute (TCII) is transforming the fight against cancer by bringing together multiple advances in early detection under a single, coordinated effort – accelerating progress and impact.

Closely aligned with TCII is the TRIM-EBC Trial (Tirzepatide weight loss in patients with MRD and Early Breast Cancer), supported by a generous grant from the Mary Kay Ash Foundation^®. Through this innovative study, led by Celebrating Women Endowed Chair in Breast Cancer Research, Joyce O’Shaughnessy, MD, who is investigating whether weight loss achieved with Zepbound® (tirzepatide) can reduce the risk of breast cancer recurrence by lowering or eliminating circulating tumor DNA (ctDNA).

The TRIM-EBC Trial has the potential to reduce the risk of breast cancer recurrence in patients who meet body mass index (BMI) criteria for overweight or obesity. Through its support of both TCII and the TRIM-EBC Trial, the Mary Kay Ash Foundation^® is helping advance this critical work and is recognized as a Founding Member of TCII. This distinction reflects the Foundation’s early leadership as part of an exclusive group of visionary supporters dedicated to shaping the future of cancer interception and accelerating the development of innovative prevention strategies. Together, TCII and the TRIM-EBC Trial strongly align with the Mary Kay Ash Foundation’s mission to invest in breakthrough research aimed at finding cures for cancers affecting women.

In recognition of its steadfast, decades-long commitment to women’s health, the Mary Kay Ash Foundation^® was honored with the prestigious Circle of Care Award at the 2025 Celebrating Women Luncheon, hosted by the Baylor Scott & White Dallas Foundation. The award celebrates those who have made a profound impact in shaping the future of breast cancer care through advocacy, philanthropy, and innovation.

The luncheon also honored Dr. Joyce O’Shaughnessy, MD, one of the nation’s leading breast oncologists, for four decades of her tireless and life-saving work to further breast cancer research, patient care, and survivorship.

Q&A with Dr. Joyce O’Shaughnessy

We sat down with Dr. O’Shaughnessy to hear her perspective on the future of breast cancer research and how her contributions over four decades have helped shape treatment and patient care for thousands facing a cancer diagnosis. Read her thoughts on the past, present, and future of breast cancer research.

Q: How would you describe the cancer research community and how do members support one another to advance the field? 

Dr. O’Shaughnessy: It really is a remarkably tight-knit community. The people who dedicate their careers not only to patient care but also to advancing therapies and improving outcomes truly know one another. There is an extraordinary level of global collaboration. We design trials together, we share ideas, and when someone has a difficult case, they can reach out to colleagues around the world. It’s one of the most rewarding parts of this work—we genuinely like each other, we’re rowing in the same direction, and we’re united by the same goal.

Q: Why is interdisciplinary and global collaboration more critical in breast cancer research today?

Dr. O’Shaughnessy: As we identify more molecular subtypes and biomarkers, patient populations are becoming smaller and more specific. You simply cannot answer important questions without collaboration. No single center can do it alone. Global partnerships allow us to test hypotheses, design feasible trials, and address unmet needs. This molecular revolution is still at the beginning, and collaboration is absolutely essential for it to succeed.

Q: How would you describe the evolution of women in oncology since starting your career? 

Dr. O’Shaughnessy: When I started more than 35 years ago, there were no senior women faculty at my institution – none. The opportunities just weren’t there. That has changed dramatically. Once women began moving into leadership roles and succeeding, it created a snowball effect. Seeing women in those positions makes others realize it’s possible.

That visibility is critical – not just for women in general, but also for minority women. You need to see someone like yourself doing the job to believe you can do it too.

Q: What role has mentorship played in your career?

Dr. O’Shaughnessy: Mentorship has been absolutely essential. I would not be where I am without mentors who opened doors for me. Leadership opportunities don’t happen in a vacuum – you need people who believe in you and are willing to support you. That combination of role models and mentors is what truly makes progress possible.

Q: How do you see patient advocacy shaping breast cancer research and care in the U.S.?

Dr. O’Shaughnessy: Patient advocacy has been transformative. Early advocates were insistent that things had to change – communication, shared decision-making, funding, and transparency. Because of that advocacy, breast cancer research funding in the U.S. increased dramatically.

More recently, patients with metastatic breast cancer have driven change around drug dosing. They pointed out that many therapies were being dosed too high, based on outdated models. That advocacy directly led to the FDA’s OPTIMUS initiative, which now requires dose-optimization studies before approval. That’s an extraordinary example of patients improving science.

Q: Are patient advocates now formally involved in research?

Dr. O’Shaughnessy: Yes, and that’s an incredibly positive development. Patient advocates are now often required participants on steering committees and institutional review boards, especially when patient-reported outcomes are involved. Survivors bring perspectives that investigators alone simply cannot provide, and it makes trials more meaningful and relevant.

Q: You’ve expressed concern about the decline of investigator-initiated academic research. Why is this an issue?

Dr. O’Shaughnessy: Most ideas used to come from investigators. Over time, that has shifted heavily toward pharma-sponsored research. While industry trials are important, they do not answer many critical questions – such as optimal combinations, duration of therapy, or which patients truly benefit.

Pharma often provides the drugs, which is helpful, but funding for the trials themselves is frequently inadequate. Investigator-initiated research is essential, and without sufficient funding – often philanthropic – we risk losing that innovation. That is why I am so grateful to organizations like the Mary Kay Ash Foundation^® that believe in research and have so generously contributed to this life-saving and revolutionary work!

Q: What other barriers make academic research difficult today?

Dr. O’Shaughnessy: The regulatory and administrative burden has become enormous. Writing protocols, securing budgets, negotiating contracts – it takes years. For young investigators, a five-year timeline can be discouraging. We need to streamline these processes so academic research can move faster and remain viable.

Q: How do you personally cope with the emotional challenges of treating patients when options are limited?

Dr. O’Shaughnessy: It gets harder over time – it is cumulative. The way I cope is by staying proactive. Clinical research is our most powerful problem-solving tool. Even when we don’t have answers, we can work to understand why a treatment failed, identify resistance mechanisms, and get patients to the best possible trials.

Being proactive – scientifically and clinically – helps counter the sense of helplessness that can otherwise take over.

Q: Why have you chosen to focus your research on triple-negative breast cancer?

Dr. O’Shaughnessy: Primary resistance in triple-negative breast cancer is one of the most difficult biological questions we face. Some patients simply do not respond to therapy, and we don’t fully understand why. My focus is on serial biopsies, pilot trials, and novel therapeutics to address that gap.

This work is entirely supported by philanthropic funding. As a busy clinician, I simply don’t have the time required to pursue large federal grants, so philanthropy has been essential.

Q: What are the most important recent advances in triple-negative breast cancer?

Dr. O’Shaughnessy: The addition of immunotherapy to chemotherapy in the curative setting has been a major breakthrough. Pembrolizumab is now approved, and others are being studied. We’ve seen a substantial improvement in cure rates.

Equally important are pre-operative trial designs. They allow us to get answers much faster by assessing response at surgery rather than waiting years for recurrence data.

Q: What gives you the most hope for the future?

Dr. O’Shaughnessy: We are sitting on a mountain of new agents and new strategies. One of the most exciting areas is blood-based tumor DNA testing. Detecting circulating tumor DNA after treatment can identify patients at very high risk of recurrence and allow us to intervene earlier.

This approach could revolutionize how we design trials and eventually how we practice medicine. We’re just at the beginning, but the potential is enormous.

Q: What would you say to young investigators entering the field today?

Dr. O’Shaughnessy: Stay tuned. The next few decades are going to be extraordinary. When I started, opportunities were limited and research was confined to large academic centers. Today, collaboration, technology, and innovation are accelerating rapidly. It’s going to be an incredible journey, and young investigators will be right at the center of it.

Did You Know:

• Guided by Mary Kay Ash’s dream to enrich the lives of women everywhere, the Mary Kay Ash Foundation^® raises and distributes funds to invest in cancer research to find cures for cancers affecting women and ending domestic violence against women. Over the past two decades, the Mary Kay Ash Foundation^® has generously contributed more than $1.3 million to cancer research programs at Baylor Scott & White.

Learn more about the Mary Kay Ash Foundation^® and its ongoing commitment to finding cures for cancers affecting women here.

***

About Mary Kay Ash Foundation^® 

Guided by Mary Kay Ash’s dream to enrich the lives of women everywhere, the Mary Kay Ash Foundation^® raises and distributes funds to end domestic violence and invest in breakthrough cancer research to find cures for women-related cancers. Since 1996, the Mary Kay Ash Foundation^® has contributed more than $98 million to organizations aligned with its two-fold mission. In addition, the Foundation supports awareness initiatives, community outreach programs, and advocates for legislation to ensure women are healthy and safe. Together, we can make the world better for women. To learn more about how to educate, advocate, volunteer, donate, and join life-saving work to support and empower women, visit marykayashfoundation.org, or find us on Facebook and Instagram.

About Baylor Scott & White Dallas Foundation

Baylor Scott & White Dallas Foundation raises money to advance the Mission of Baylor Scott & White Health: Founded as a Christian ministry of healing, Baylor Scott & White Health promotes the well-being of all individuals, families, and communities. At Baylor Scott & White Dallas Foundation, philanthropy is the catalyst for change – advancing innovation, expanding access to compassionate care, and empowering more people to live well. Together, we are shaping the future of healthcare in North Texas.

# # #

For more than 25 years, Medtronic heart monitors have been helping advance conservation science. Led by Tim Laske, vice president of research and development for Cardiac Ablation Solutions, the work originally focused on American black and grizzly bears. It has expanded to more than 25 species by partnering with organizations around the world, including the Wildlife Science Center, the Columbus Zoo and Aquarium, and the Smithsonian’s National Zoo and Conservation Biology Institute.

Since this work began, more than 600 animals representing 27 species have received heart monitors — including giant anteaters in Brazil and clouded leopards in Thailand — generating evidence-backed knowledge that is helping scientists and animals around the world.

The Rhythm of Life with the Smithsonian’s National Zoo and Conservation Biology Institute

The Medtronic Reveal LINQ™ Insertable Cardiac Monitor is helping researchers learn characteristics of wild and endangered species to further conservation efforts. Laske and colleagues have been studying the physiology of bears since 1999, publishing dozens of studies — one of which caught the eye of the Smithsonian’s National Zoo and Conservation Biology Institute (NZCBI).

Rosana Moraes, senior research fellow at the Smithsonian, remembers the exact moment she encountered their study on the stress response of wild bears to drone flights through cardiac monitoring. “When I saw that data, I envisioned all the possibilities we could do with a tool like that,” she said.

In 2018, the Rhythm of Life study was born.

Learn more:

• How healthcare technology is changing wildlife conservation
• At the heart of giant anteater conservation is a medical device

Tracking stress in wolves: Wildlife Science Center in Minnesota

In the early 1970s, wolves were endangered across the U.S. and Mexico. Red wolves and Mexican gray wolves were extinct in the wild, and only about 300 gray wolves lived in northern Minnesota and Michigan. Since then, populations of all three species have grown through concerted efforts by government agencies and conservationists.

Among those helping to boost these populations are scientists at the Wildlife Science Center in Minnesota. They raise gray wolves and are actively breeding both the red wolf and Mexican gray wolf to help increase numbers in wild populations.

These scientists study wolves so they can better understand them, both providing insights into improving quality of life in captivity and better management in the wild – and our Reveal LINQ insertable cardiac monitor is helping them do so.

Learn more:
Keeping up with the pack: Tracking stress in wolves

Monitoring heart disease in great apes: Columbus Zoo and Aquarium

In 2022 the Columbus Zoo and Aquarium in Ohio implanted six great apes with Medtronic Reveal LINQ™ insertable cardiac monitors (ICMs), to help identify and track heart problems in the animals.

“The hearts of great apes are very similar to human hearts,” said Dr. Ilana Kutinsky, a cardiologist and electrophysiologist who participated in the implants. “Great apes die from heart disease just like people do.”

Heart disease is the leading cause of death among apes living in zoos. The Columbus Zoo, in conjunction with the Great Ape Heart Project based in Detroit, implanted the monitors in two gorillas, two orangutans, and for the first time in the world, two bonobos.

Learn more:
Helping more than humans: Medtronic devices monitor heart disease in great apes

How are animals and people benefiting from this research?

• Conservation and management of wild species
• Improved quality of life for captive species
• Understanding of hibernation physiology for potential application to human medicine
• Improved reproductive productivity of captive and free endangered species

Learn more:
Meet the father and daughter tracking heartbeats of the wild

For more than 25 years, Medtronic heart monitors have been helping advance conservation science. Led by Tim Laske, vice president of research and development for Cardiac Ablation Solutions, the work originally focused on American black and grizzly bears. It has expanded to more than 25 species by partnering with organizations around the world, including the Wildlife Science Center, the Columbus Zoo and Aquarium, and the Smithsonian’s National Zoo and Conservation Biology Institute.

Since this work began, more than 600 animals representing 27 species have received heart monitors — including giant anteaters in Brazil and clouded leopards in Thailand — generating evidence-backed knowledge that is helping scientists and animals around the world.

The Rhythm of Life with the Smithsonian’s National Zoo and Conservation Biology Institute

The Medtronic Reveal LINQ™ Insertable Cardiac Monitor is helping researchers learn characteristics of wild and endangered species to further conservation efforts. Laske and colleagues have been studying the physiology of bears since 1999, publishing dozens of studies — one of which caught the eye of the Smithsonian’s National Zoo and Conservation Biology Institute (NZCBI).

Rosana Moraes, senior research fellow at the Smithsonian, remembers the exact moment she encountered their study on the stress response of wild bears to drone flights through cardiac monitoring. “When I saw that data, I envisioned all the possibilities we could do with a tool like that,” she said.

In 2018, the Rhythm of Life study was born.

Learn more:

• How healthcare technology is changing wildlife conservation
• At the heart of giant anteater conservation is a medical device

Tracking stress in wolves: Wildlife Science Center in Minnesota

In the early 1970s, wolves were endangered across the U.S. and Mexico. Red wolves and Mexican gray wolves were extinct in the wild, and only about 300 gray wolves lived in northern Minnesota and Michigan. Since then, populations of all three species have grown through concerted efforts by government agencies and conservationists.

Among those helping to boost these populations are scientists at the Wildlife Science Center in Minnesota. They raise gray wolves and are actively breeding both the red wolf and Mexican gray wolf to help increase numbers in wild populations.

These scientists study wolves so they can better understand them, both providing insights into improving quality of life in captivity and better management in the wild – and our Reveal LINQ insertable cardiac monitor is helping them do so.

Learn more:
Keeping up with the pack: Tracking stress in wolves

Monitoring heart disease in great apes: Columbus Zoo and Aquarium

In 2022 the Columbus Zoo and Aquarium in Ohio implanted six great apes with Medtronic Reveal LINQ™ insertable cardiac monitors (ICMs), to help identify and track heart problems in the animals.

“The hearts of great apes are very similar to human hearts,” said Dr. Ilana Kutinsky, a cardiologist and electrophysiologist who participated in the implants. “Great apes die from heart disease just like people do.”

Heart disease is the leading cause of death among apes living in zoos. The Columbus Zoo, in conjunction with the Great Ape Heart Project based in Detroit, implanted the monitors in two gorillas, two orangutans, and for the first time in the world, two bonobos.

Learn more:
Helping more than humans: Medtronic devices monitor heart disease in great apes

How are animals and people benefiting from this research?

• Conservation and management of wild species
• Improved quality of life for captive species
• Understanding of hibernation physiology for potential application to human medicine
• Improved reproductive productivity of captive and free endangered species

Learn more:
Meet the father and daughter tracking heartbeats of the wild

For more than 25 years, Medtronic heart monitors have been helping advance conservation science. Led by Tim Laske, vice president of research and development for Cardiac Ablation Solutions, the work originally focused on American black and grizzly bears. It has expanded to more than 25 species by partnering with organizations around the world, including the Wildlife Science Center, the Columbus Zoo and Aquarium, and the Smithsonian’s National Zoo and Conservation Biology Institute.

Since this work began, more than 600 animals representing 27 species have received heart monitors — including giant anteaters in Brazil and clouded leopards in Thailand — generating evidence-backed knowledge that is helping scientists and animals around the world.

The Rhythm of Life with the Smithsonian’s National Zoo and Conservation Biology Institute

The Medtronic Reveal LINQ™ Insertable Cardiac Monitor is helping researchers learn characteristics of wild and endangered species to further conservation efforts. Laske and colleagues have been studying the physiology of bears since 1999, publishing dozens of studies — one of which caught the eye of the Smithsonian’s National Zoo and Conservation Biology Institute (NZCBI).

Rosana Moraes, senior research fellow at the Smithsonian, remembers the exact moment she encountered their study on the stress response of wild bears to drone flights through cardiac monitoring. “When I saw that data, I envisioned all the possibilities we could do with a tool like that,” she said.

In 2018, the Rhythm of Life study was born.

Learn more:

• How healthcare technology is changing wildlife conservation
• At the heart of giant anteater conservation is a medical device

Tracking stress in wolves: Wildlife Science Center in Minnesota

In the early 1970s, wolves were endangered across the U.S. and Mexico. Red wolves and Mexican gray wolves were extinct in the wild, and only about 300 gray wolves lived in northern Minnesota and Michigan. Since then, populations of all three species have grown through concerted efforts by government agencies and conservationists.

Among those helping to boost these populations are scientists at the Wildlife Science Center in Minnesota. They raise gray wolves and are actively breeding both the red wolf and Mexican gray wolf to help increase numbers in wild populations.

These scientists study wolves so they can better understand them, both providing insights into improving quality of life in captivity and better management in the wild – and our Reveal LINQ insertable cardiac monitor is helping them do so.

Learn more:
Keeping up with the pack: Tracking stress in wolves

Monitoring heart disease in great apes: Columbus Zoo and Aquarium

In 2022 the Columbus Zoo and Aquarium in Ohio implanted six great apes with Medtronic Reveal LINQ™ insertable cardiac monitors (ICMs), to help identify and track heart problems in the animals.

“The hearts of great apes are very similar to human hearts,” said Dr. Ilana Kutinsky, a cardiologist and electrophysiologist who participated in the implants. “Great apes die from heart disease just like people do.”

Heart disease is the leading cause of death among apes living in zoos. The Columbus Zoo, in conjunction with the Great Ape Heart Project based in Detroit, implanted the monitors in two gorillas, two orangutans, and for the first time in the world, two bonobos.

Learn more:
Helping more than humans: Medtronic devices monitor heart disease in great apes

How are animals and people benefiting from this research?

• Conservation and management of wild species
• Improved quality of life for captive species
• Understanding of hibernation physiology for potential application to human medicine
• Improved reproductive productivity of captive and free endangered species

Learn more:
Meet the father and daughter tracking heartbeats of the wild

Staying true to its vision of Making Apparel Better^®, Gildan has been included in CDP’s Leadership level for the sixth time, reflecting the Company’s environmental and climate data performance for the 2024 reporting year. Additionally, HanesBrands, recently acquired by Gildan, has been placed on CDP’s A List.^*

“I am proud of our continued progress on climate transparency,” says Claudia Sandoval, Vice-President of Global Social Compliance and Environmental Affairs. “This recognition from CDP is a testament to Gildan’s longstanding commitment to operating with respect for the environment and its continuous efforts to embed ESG across the supply chain. With the ongoing integration of HanesBrands, we are confident that the environmental expertise of the two entities will allow us to scale our sustainability efforts to even newer heights.”

Gildan received a score of A- for its 2024 climate change disclosures and was specifically recognized for its performance on its Scope 3 emissions, emissions reduction initiatives, risk and opportunity disclosures and processes, and governance.

CDP is a global non-profit that runs the world’s only independent environmental disclosure system which partners with leaders in enterprise, capital, policy, and science. Over 24,800 companies around the world disclosed data through CDP in 2024. Aligned with the ISSB’s climate standard, IFRS S2, as its foundational baseline, CDP integrates best practice reporting standards and frameworks in one place.

Click here to explore the scores.

* Gildan’s 2025 CDP score reflects its ESG efforts prior to its acquisition of HanesBrands in December 2025. HanesBrands was also recognized by CDP for its environmental data for the 2024 reporting year, receiving a score of A.