Tag: 3BL

John H. Fogarty, CFA| Co-Chief Investment Officer—US Growth Equities and US Relative Value

Kent Hargis, PhD| Chief Investment Officer—Strategic Core Equities; Portfolio Manager—Global Climate Transition Strategy

Lei Qiu| Chief Investment Officer —Thematic Innovation Equities

Shri Singhvi| Chief Investment Officer—Strategic Equities

James T. Tierney, Jr.| Chief Investment Officer—Concentrated US Growth

Thorsten Winkelmann| Chief Investment Officer—European and Global Growth Equities

AB ’s equity portfolio managers answer questions about the AI-driven boom in technology stocks and equity markets.

Technology stocks have continued to benefit from enthusiasm over the transformative potential of artificial intelligence (AI). Yet many investors are concerned that share prices and valuations may reflect overly exuberant earnings expectations. We asked several AB equity portfolio managers to share their thoughts and investing perspectives on the sustainability of AI-driven enthusiasm.

• Are we in an AI bubble?

  Shri Singhvi, Chief Investment Officer—Strategic Equities: There’s a big difference between an AI bubble and a stock market bubble. AI is most likely a generational disruption and may turn out to be one of the biggest we have seen in our lifetimes. Yet the use cases for AI, how widely it is deployed and the associated return on investment (ROI) are probably in the first or second innings. Meanwhile, the AI and AI-enabler stocks might be in much later innings. That is the challenge equity investors must grapple with. This so-called stock market bubble is not just AI centric; it’s fueled by excess liquidity from monetary and fiscal policies and goes far beyond AI. Most risk assets, including cryptocurrencies and meme stocks, are being bid up even though they have nothing to do with AI. That said, equity investors face a precarious choice: Is it better to be early or late should the market excesses correct significantly? Timing is hard and the cost of being wrong is high on both sides.

  Lei Qiu, Chief Investment Officer—Thematic Innovation Equities: I think it’s probably too simple to label the entire AI revolution as a bubble. Historically, we often underestimate the long-term impact of transformational changes while being overly optimistic about short-term revisions. Disruptive changes tend to happen suddenly and dramatically, but investors usually expect change to follow a steady, linear path. This mismatch can trigger violent moves in sentiment and stock prices. When it leads to a mispricing of companies with highly levered business models, “bubbles” will burst.

  The internet bubble burst because few business models could be monetized at the time. Streaming, social media and the proliferation of mobile apps didn’t exist when the heavily leveraged networking companies failed. However, the initial infrastructure investments—from undersea cable to fiber optic networks—created far too little capacity to support the number of users and the amount of traffic we have today. I think investors should keep these historical lessons in mind when considering AI today.

  Lastly, we should also recognize that when supply for components and power supply is so tight, there will be price gouging and double ordering. Over the longer term, the big question is which companies can maintain pricing power and generate profit pools. At some point, it will no longer be a “rising tide that lifts all boats” for anything that mentions the word AI. The short answer is that some companies are true AI winners and deserve the market cap, while many are not. So it’s a good time to be an active investor.

  John Fogarty, Co-Chief Investment Officer—US Growth Equities: The AI narrative drove the US equity rebound in 2023–24 after a sell-off in 2022, particularly for the tech titans. AI has continued to dominate equity performance in 2025. Beyond NVIDIA, more infrastructure providers have been catalyzed and rewarded by the increasing spend on data center build-out. It is more than hype, however, as the narrowness of the market can partially be explained by the substantial contribution of this capex cycle on GDP. But the question whether these trends can be sustained looms large.

  The continued parabolic spending intention rests on two critical assumptions: 1) AI training will continue to scale with increased compute to achieve artificial general intelligence (AGI). 2) AI inference will generate sufficient revenues to support the capital build-out in years to come. A challenge to either assumption that even just slows capital spending could cause a “bubble burst” equity market correction. That, in turn, could cascade into a negative wealth effect, given the fragility of market concentration that has coalesced around the AI narrative.

  Jim Tierney, Chief Investment Officer—Concentrated US Growth: I agree with John about the market fragility. Think about the recent announcement that NVIDIA would give $100 billion to OpenAI—a large customer—so it can buy more graphic processing units (GPUs). This circular deal raises big questions. It reminds me of Pets.com and the internet bubble of the late 1990s. Here, OpenAI is the big spender, yet it has had negative free cash flow for years. So the risk is that if the market pulls the funding rug, the AI capex spending frenzy could cool quickly. Everything touching the AI space is predicated on capital spending climbing for years. But that story can be disrupted from many directions, such as more power-efficient chips, lower incremental model gains, power constraints, limits on AI-productivity improvements and overcapacity. We believe there’s no free lunch in AI land right now.

  Thorsten Winkelmann, Chief Investment Officer—European and Global Growth Equities: In my opinion, there are some differences to former bubbles like dot-com. All the major listed US, European and Asian companies involved in the AI narrative (think NVIDIA, Microsoft, Meta Platforms, ServiceNow, ASML, Applied Materials and Taiwan Semiconductor Manufacturing) are profitable, trade on explainable valuations (perhaps excluding NVIDIA) and are making a positive return on their AI investment at the moment.

  The bubble factor is more relevant to some key unlisted AI companies (OpenAI, Anthropic, Thinking Machines Lab, Z.ai, etc.), where valuations look absurd, in my opinion. The problem is, as Jim pointed out above, these companies are amplifying spending on AI infrastructure, which can be called circular when financed by the vendor. This pumps up order books and revenue expectations of the listed companies mentioned above.

  It seems as if we are in bubbly territory, but I’d argue that it’s less inflated than what we saw in the dot-com era.

  Kent Hargis, Chief Investment Officer—Strategic Core Equities: I think we are likely still in the early stages of a bubble. We’re witnessing an enormous AI-beneficiary rally in the market, driven by both quality mega-caps and low-quality speculative stocks. We’re also seeing an enormous amount of capital flowing into private companies (OpenAI valued at $500 billion; xAI and Anthropic each valued in the $150–$200 billion range). This initial capex phase of the AI infrastructure boom was largely funded by hyperscalers with strong cash flows and balance sheets capable of supporting massive capital outlays. However, the next phase is increasingly being fueled by less stable sources—including debt-financed expansion, inflated private company valuations, circular financing arrangements and risky private credit structures. This dynamic is adding fuel to speculative excesses and amplifying systemic risk as capital becomes less disciplined and more return-chasing. AI is a transformational technology, but based on our projections, technology capex is likely to surpass levels previously seen only during the dot-com boom. These and other notable red flags suggest that while the timing is uncertain, a correction at some point seems likely.

• How can investors gauge real AI potential versus hype?

  John: AI has transformed computer programming and transitioned digital advertising analytics from machine learning. Beyond that, there is more promise than irrefutable commercial successes fueling certain ROI adoption. As active managers, especially given our constructive view on this new compute paradigm, we are excited to identify successful AI adoption that improves productivity and sustainable profitability. However, these success stories have not progressed linearly, which may point to slower adoption or the need for incremental model improvement. While the clock ticks, the market continues to reward AI spending intent rather than AI adoption.

  Jim: To identify further AI upside, investors must look at 2026 capex growth, emerging revenue models and real-world cost/benefit stories from management teams.

  Lei: I’d argue that the “DeepSeek” moment in early 2025 marked an inflection point in adoption of AI inferencing, and we’re now seeing accelerated AI output. What NVIDIA is doing with OpenAI is simply funding a disruptor to challenge very well-funded tech giants’ dominance of their respective markets, which forces a faster pace of adoption of accelerated compute. We’ve always maintained the view that AI is as offensive as it is defensive when it comes to the mega-cap tech companies, as they simply cannot afford not to spend.

  Kent: The underlying technology must continue to advance to justify the rising intensity of AI-related capex. Large language models have improved at a remarkable pace, primarily by scaling compute during training. More recently, post-training techniques and reasoning models have been especially promising. Over the long run, sustained returns will require broader adoption of AI across use cases that meaningfully replace human labor. We’re already seeing early traction in areas such as coding, writing assistance, content creation and customer service. We’re monitoring these advances closely as leading indicators of potential ROI on the vast capital being deployed. If the rate of progress slows, the AI trade will inevitably correct.

  For now, the market remains in an AI “FOMO arms race,” exemplified by comments from Mark Zuckerberg and other prominent technology executives that the cost of underinvesting outweighs the cost of overinvesting. To navigate this environment, we’ve developed industry-specific frameworks to evaluate how companies are positioned along the “AI winner vs. AI loser” spectrum. While timing cycles remains inherently difficult, we believe a bottom-up approach focused on identifying true AI winners offers significant alpha potential.

  Shri: While it is true that early AI pilots have had mixed results, it’s too early to call AI hype. Those disappointments reflect a lack of corporate readiness for AI as well as the early stage of AI capabilities. There are also some big initial success stories, like in coding, where companies have seen efficiency gains between 25%–40%. Customer service is another very successful use case. And in healthcare, cycle times and costs of managing and filing claims have been reduced dramatically. Even bigger use cases are inevitable and can never be known beforehand. For example, the iPhone was launched in 2007, but Uber wasn’t even founded until 2010 and not widely used until much later. So with AI, we haven’t come close to imagining what use cases might be possible with time.

  We do know that every company and industry will have to adopt AI, if not for offense, then for defense. No one can afford to fall behind because catching up will require overcoming tremendous amounts of technology debt and significant competitive disadvantages. Finally, AI’s potential goes way beyond white-collar job efficiencies. We’re already seeing nascent physical AI applications with robots and autonomous operations like driving. The most important metrics to watch here are models and applications continuing to improve, 2) token costs continuing to get cheaper, and 3) not watching the average ROI on AI but the ones for companies that are leading the charge and have cracked the code on harnessing AI—because if they do, their competitors have no choice but to follow.

• Is there a way for equity investors to capture AI potential without taking excessive risk?

  Kent: In any bubble, speculative and lower-quality companies often outperform in the short term. But as speculative excesses continue to build across parts of the AI ecosystem, it’s increasingly important to stay disciplined and focus on quality. I think the most effective long-term approach is to identify companies that offer both meaningful upside from AI exposure and the risk reduction that comes from strong fundamentals in their core businesses. There’s always risk in any investment—particularly in a rapidly evolving growth theme like AI—but our strategy’s objective is to deliver attractive risk-adjusted returns while minimizing downside risk. That means investing in durable, high-quality businesses capable of compounding value over time, rather than chasing the transitory gains of speculative AI stories.

  Shri: Investors need a nimble and basket approach to investing in AI while avoiding concentrated bets, as it is nearly impossible to call winners and losers early on. There are lessons to learn from the dot-com boom. In 1999, if you were investing in dot-com winners, you would have bought AOL and Yahoo—two early movers that were eventually disrupted. The eventual big winners, like Google, Meta and Apple, weren’t obvious early on. That’s why it’s critical to be nimble in a changing landscape and to be active and selective in approaching AI investing. I think a prudent approach is to get broader exposure to three baskets of AI: direct AI beneficiaries, indirect AI beneficiaries and AI users.

  AI will be highly disruptive for many industries in which current leaders will face the innovator’s dilemma. So it’s equally important for investors to avoid companies that will be disrupted by AI, including certain types of software companies, IT services groups and staffing companies.

  Lei: Historically what “bursts” a bubble is usually the debt market, when a company fails to pay interest owed because it is strapped for cash. Given the players involved, I think it’s too early to call it a bubble that is about to burst. In the meantime, though, we should monitor developments in the private credit market. If there is a bubble, I think it will begin to show there first.

  John: There are noted differences between this infrastructure build versus the telecom internet build around 2000, namely less debt financing so far and satisfying immediate demand versus the dark fiber build-out at the time. Nonetheless, capex intensity to current revenue for the hyperscalers has doubled, just like the internet boom. Capex cycles peak, as do associated valuations, regardless of a benign or steep fall off in spending. Looking beyond how this picks-and-shovels phase ends, like the eventual dot-com era, I think it’s likely that companies capitalizing on the application of AI have not yet emerged as market leaders. Identifying those adopters will generate alpha, regardless of the duration and ROI of the build-out.

  Thorsten: Those are all valid observations. That said, our strategy focuses AI-related investments on the “picks and shovels” rather than the gold diggers. When investing in the AI enablers, we always pay attention to which part of future revenues is explained by “regular” business and how much is AI hype that might be canceled or postponed tomorrow.

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

References to specific securities are presented to illustrate the application of our investment philosophy only and are not to be considered recommendations by AB. The specific securities identified and described do not represent all of the securities purchased, sold or recommended for the portfolio, and it should not be assumed that investments in the securities identified were or will be profitable.

Learn more about AB’s approach to responsibility here.

LINCOLN, Neb., November 7, 2025 /3BL/ – Since 2015, the Arbor Day Foundation and Philadelphia Insurance Companies (PHLY) have partnered to plant 80,000 trees each year in high-priority forests that have been devastated by wildfires, hurricanes, and other disasters. To mark the 10th anniversary of the PHLY 80K Trees initiative, 40 PHLY employees from across the country gathered in Austin, Texas, this week for a community tree planting event.

“For the last decade, this partnership has set a powerful example of how sustained corporate engagement can drive meaningful environmental impact,” said Dan Lambe, chief executive of the Arbor Day Foundation. “PHLY’s long-standing support has helped restore ecosystems, strengthen neighborhoods, and inspire local action through trees and we’re grateful for their continued collaboration.”

Over the years, the PHLY 80K Trees program has expanded to plant trees in both forests and communities throughout the United States. Through more than 40 unique projects, these tree-planting efforts have helped restore over 1,290 acres of forestland across a variety of landscapes ranging from the Pacific Northwest to the American Southeast. To date, more than 200 PHLY volunteers have supported planting projects.

In Austin, community tree planting efforts took place along the locally popular Ann & Roy Butler Trail, about 30 miles from the partnership’s first reforestation planting site at Bastrop State Park. The 10-mile trail loop — which runs along both sides of the Colorado River near downtown Austin — is in need of new trees to help protect the river’s water quality, replace canopy lost to Winter Storm Mara in 2023, and provide shade and cooling for both surrounding communities and trail users alike.

“Philanthropy is at the core of our corporate culture, driving us to make meaningful contributions that extend far beyond our walls. Environmental causes are a central pillar of our social giving philosophy, and our 10-year partnership with the Arbor Day Foundation is a testament to our commitment to regeneration and sustainability,” said John Glomb, president and CEO of Philadelphia Insurance Companies. “The opportunity for our employees to come together as a team, working collaboratively on projects that restore and protect our natural environment, is a win for everyone involved. This annual event has become one of our favorite expeditions, seeing how it strengthens our company bonds and benefits communities for years to come.”

The PHLY80K Trees initiative not only aids in forest recovery but also enhances community resilience against natural disasters. Healthy tree canopies play a vital role in flood prevention, air and water quality improvement, soil stabilization, and urban heat island mitigation.

About the Arbor Day Foundation

The Arbor Day Foundation is a global nonprofit inspiring people to plant, nurture, and celebrate trees. They foster a growing community of more than 1 million leaders, innovators, planters, and supporters united by their bold belief that a more hopeful future can be shaped through the power of trees. For more than 50 years, they’ve answered critical need with action, planting more than half a billion trees alongside their partners. And this is only the beginning.

The Arbor Day Foundation is a 501(c)(3) nonprofit pursuing a future where all life flourishes through the power of trees. Learn more at arborday.org.

About Philadelphia Insurance Companies

For over 60 years, Philadelphia Insurance Companies (PHLY) has delivered stability and peace of mind through enduring partnerships with our customers, brokers, and independent agents nationwide. We provide commercial property/casualty and professional liability coverages, comprehensive risk management, and expert claims handling across 120+ specialized industries.

As a proud member of Tokio Marine Group, one of the largest insurance groups in the world, PHLY’s exceptional financial strength has been independently validated through the highest ratings from the AM Best Company [“A++” (Superior)] and Standard & Poor’s [“A+”] since 2011. PHLY is nationally recognized as a member of Ward’s Top 50 since 2001, Business Insurance’s Best Places to Work in Insurance since 2010, and ranked as one of America’s Best Midsize Employers by Forbes.

For more information, please visit PHLY.com and connect with us on LinkedIn.

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Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, invites students in the US and Canada aged 6-17 to enter the TCS goIT Monthly Challenge for November. This month, students are asked to contribute ideas for innovations that could help protect and improve quality of life for children.

According to UNICEF, climate change, poverty, deepening inequalities, and intensifying conflicts are negatively impacting children’s chances to thrive. The organization suggests that without urgent action, millions of young lives are at risk due to easily preventable causes such as disease, poor nutrition, and unsafe environments.

With the goIT Monthly Challenge for November, TCS is asking students to consider the five domains of child well-being that UNICEF uses to monitor Sustainable Development Goal (SDG) progress: Survive and Thrive, Learning, Protection from Harm, Safe and Clean Environment, and Life Free from Poverty.

Challenge Prompt: Design a tech-for-good solution that helps protect children’s right to thrive and which makes life safer, healthier, and more supportive for kids at home, in school, and in their communities.

To participate, students follow tips found on the goIT Challenge website and use design thinking skills to create and pitch a digital innovation concept, such as a mobile app or a website, which could help advance these goals in their local communities or across the globe. Students are not required to create a functioning innovation but should demonstrate research and knowledge necessary to move the concept from idea to reality.

Participants can present ideas for tech-based solutions that help ensure no child is left behind with respect to rights, health, or education. They can also propose solutions to related problems, or new ways to ensure children’s wellbeing is protected at home and elsewhere. The possibilities are only limited by their imaginations.

How to enter:

1. Adults: Visit https://on.tcs.com/goIT-ENG with a student aged 6-17 to learn about the goIT Monthly Challenge, register, and submit entries.
2. Scroll down to get inspired by watching videos about SDGs they feel are especially relevant to children.
3. Download the judging rubric and presentation template for extra guidance.
4. Start researching and inventing!

Pitches submitted by November 30, 2025, will be judged by a volunteer panel of TCS employees, customers, and partners. Monthly winners have an automatic head start on their entry in the annual goIT Global Innovator of the Year competition and the chance to earn mentoring and recognition that can be included in resumes and college applications. Register a student and help them get started now.

* Students must register with a parent, teacher, or guardian.

About Tata Consultancy Services
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) is a digital transformation and technology partner of choice for industry-leading organizations worldwide. Since its inception in 1968, TCS has upheld the highest standards of innovation, engineering excellence and customer service.

Rooted in the heritage of the Tata Group, TCS is focused on creating long term value for its clients, its investors, its employees, and the community at large. With a highly skilled workforce of over 590,000 employees in 55 countries and 202 service delivery centres across the world, the company has been recognized as a top employer in six continents. With the ability to rapidly apply and scale new technologies, the company has built long term partnerships with its clients – helping them emerge as perpetually adaptive enterprises. Many of these relationships have endured into decades and navigated every technology cycle, from mainframes in the 1970s to Artificial Intelligence today.

TCS sponsors 14 of the world’s most prestigious marathons and endurance events, including the TCS New York City Marathon, TCS London Marathon and TCS Sydney Marathon with a focus on promoting health, sustainability, and community empowerment.

TCS generated consolidated revenues of over US $30 billion in the fiscal year ended March 31, 2025. For more information, visit www.tcs.com

Follow TCS on LinkedIn| Instagram | YouTube| X

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CONTACT:

Marie Cosquer
mcosquer@actioncontrelafaim.org
+33781288497

Shayna Samuels
ssamuels@purposecollaborative.com
+1-718-541-4785

November 7, 2025 /3BL/ – The climate crisis is a hunger crisis. In 2024, extreme weather drove food crises in 18 countries, while the industrialized food system continues to generate over one-third of global greenhouse gas emissions. COP30 in Brazil presents a critical opportunity to advance a Just Transition in agriculture and food systems—one that is sustainable and enables access to affordable, nutritious food for all.

Experts from leading global nonprofit Action Against Hunger are available at COP30 to discuss the urgent need for just transitions in agriculture and food systems, climate finance in fragile contexts, and agroecological solutions to help mitigate climate crisis and enhance resilience.

Action Against Hunger spokespeople and events at COP 30: 

• Israel Rodrigues, Confluence Manager, Regional Office West and Central Africa (based in Senegal)
  Expertise: Agriculture/food systems, civil society engagement, climate adaptation in West and Central Africa
  Event: SDG Pavilion – “Renewable Energy for Resilience and Development” (November 10, 3:45-4:45 PM) – Illustrating cross-sector benefits of renewables for health, agriculture, and resilience
• Alvin Munyasia, Head of Advocacy, Kenya 
  Expertise: Climate adaptation, climate finance, Loss & Damage, climate policy & advocacy
  Events:
  • Action on Food Hub” From Crisis Response to Climate Ready: Strengthening Food Systems in Fragile Contexts” (November 19, 3:45-4:45 PM)
  • German Climate Pavilion – “Turning Targets into Action: Climate-Resilient Food and Agriculture under the GGA” (November 19, 4:30-5:30 PM)

 

• Marie Cosquer, Advocacy Analyst on Food Systems & Climate Crisis, Action contre la Faim France HQ
  Expertise: Sharm el-Sheikh Joint Work on Agriculture (SSJWA), Global Goal on Adaptation (GGA) food negotiations, Just Transition, CAN Agriculture coordination
  Events:
  • Official UNFCCC Side Event – “Just Transition in Food Systems: Roadmaps and Perspectives,” Side Event Room 9 (November 12, 6:30-8:00 PM)
  • Special Envoy for Family Farming Event, Blue Zone (November 17, 11:00 AM-12:00 PM)
• Pauline Verrière, Head of Advocacy on Food Systems & Climate Crisis, Action contre la Faim France HQ
  Expertise: Right to food and nutrition, global food systems governance
  Event: Pavillon IFDD Belém – Side event on food systems and climate (November 12, 4:45-5:45 PM)

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Action Against Hunger is a global leader creating a future where every life is well nourished. We innovate to prevent malnutrition and respond to hunger hotspots, working in 59 countries and reaching more than 21 million people each year. With 8,990 staff members worldwide—95% hired locally—we ensure culturally relevant solutions and empower communities with long-term resilience. For 18 consecutive years, we’ve earned top ratings from charity evaluators—a distinction achieved by fewer than 1% of nonprofits. Together, we are promoting resilience and working to end hunger for everyone, for good.

Almost three decades ago, a chance encounter catapulted Kris Gagermeier into a rewarding career at Trane Technologies. Today, he educates and inspires the company’s next generation of leaders.

A successful career that began with a nudge

Kris Gagermeier didn’t set out to become a leader at a global company. He was just a college student home for the weekend in La Crosse, Wisconsin, when a chance encounter changed everything.

While hanging out with friends one evening, Kris met a Trane Technologies executive who saw something in him. “Kris,” he said, “I think you need to apply to Trane Technologies.”

He did.

Now, 26 years later, Kris is still at the company, helping the next generation of industry leaders take that first step. As the leader of the Technical Training Center of Excellence, he oversees the company’s Graduate Training Program (GTP), one of the industry’s most robust and longstanding talent development pipelines.

VIDEO: Kris Gagermeier on Training Future Leaders | Trane Technologies

World-class training for future sales and engineering leaders

“Trane Technologies has been running Graduate Training Programs for nearly 100 years. We offer three specialized programs for front-line account managers, energy engineers, and contracting project managers. Each program recruits the best of the best, puts them through the most comprehensive training program and sends them out to serve our customers.”

Our immersive GTP programs are where a large proportion of Trane Technologies employees begin their journey. “What I love most about my job is that we bring in new talent into the organization every year. Most of them are right out of colleges and universities. And, we get to see those first steps they take in their career with Trane Technologies.”

The GTP is also where many future presidents and vice presidents first got their start. “There are so many amazing stories that have come out of the Graduate Training Program. Leaders across all of Trane Technologies’ business were developed right here.”

A company that feels like home

If Kris speaks about the program with pride, it’s because he’s lived it. And in some ways, it’s lived through him. His roots at Trane Technologies run deep. His grandmother worked for Trane® in manufacturing in La Crosse to build parts for the US Government. His father worked a summer job here. And now, his daughter, an engineering student herself, is stepping into a role at the company.

Kris reflects on this full-circle moment with amusement.

A winning culture that grows with you

For Kris, it’s these personal moments that define his journey. While Trane Technologies is a global company, its culture, in Kris’s eyes, is deeply local, generational and personal. “Some of the best stories come from generations of families growing their careers here.”

And that family continues to grow with each new class of GTP participants and every young engineer and sales leader who, like Kris once did, finds themselves stepping into something bigger and more rewarding.

This advancement, Kris believes, is what contributes to the longevity of so many employees’ tenure at the company. “I think one of the biggest reasons people stay at Trane Technologies is because we keep growing,” he says. “As people, as a company, as a culture. Today is the best version of Trane Technologies I’ve seen in my entire career. We’re aligned to achieve sustainability goals like never before. To be part of that, and to be respected for the background I have, that’s what our culture feels like today. I’m very happy to be here.”

Explore careers that make an impact at Trane Technologies.

November 7, 2025 /3BL/ – For the fourth consecutive year, Lenovo has received a rating of AAA in the MSCI ESG Ratings Assessment. The AAA rating represents the highest possible rating for corporations leading in ESG programs.

MSCI ESG Research provides in-depth research, ratings, and analysis of the environmental, social, and governance-related business practices of thousands of companies worldwide. Its research is designed to provide critical insights that can help institutional investors identify risks and opportunities that traditional investment research may overlook.

MSCI ESG Ratings are used to construct the MSCI ESG Indexes, produced by MSCI, Inc. For more information, click here. In alignment with MSCI’s methodology, these ratings demonstrate Lenovo’s ESG strengths relative to the China information technology industry.

MSCI is an index used by many financial decision-makers around the world. In addition to an AAA rating on MSCI’s ESG index (on a scale of AAA-CCC), Lenovo was recently recognized by the Hang Seng Sustainability Index with an AA+ rating, achieving the highest industry score and leading in environmental and social assessments. Learn more about Lenovo’s environmental, social and governance initiatives in Lenovo’s latest ESG Report.

THE USE BY Lenovo OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF Lenovo BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.

By Mafalda Monteiro Oliveira Cortez

Extending its leadership and expertise in device and cybersecurity testing, Keysight is accredited as an IT Security Evaluation Facility (ITSEF) under the EU Cybersecurity Certification Scheme on Common Criteria (EUCC). The accreditation enables Keysight’s Device Security Lab in Delft, Netherlands, to perform substantial and high-assurance level evaluations, supporting certification for critical information and communication technology (ICT) products such as smartcards, secure hardware, and software.

The Common Criteria (CC) framework is an internationally recognized standard for evaluating and certifying the security of IT products. In Europe, it has long provided a trusted foundation for consistent, high-assurance evaluations through mutual recognition agreements among national authorities. Building on this framework, the new EUCC introduced a unified European approach under the EU Cybersecurity Act (Regulation (EU) 2019/881). Keysight’s team has extensive experience working within the CC framework, helping clients navigate complex certification processes, streamline evaluation timelines, and align their products with evolving cybersecurity requirements — expertise that now carries forward into the EUCC era.

Why EUCC Matters 

EUCC certification offers a single, trusted mark of assurance, reducing complexity for manufacturers, and increasing confidence for users. It’s especially relevant for industries where security is both a differentiator and a requirement, including:

• Payments & Digital Identity: eSE/iSE/eID, smart cards, HSMs, and crypto libraries
• Networking & Cloud/Enterprise IT: network devices, platforms, software
• Semiconductor & Embedded/IoT: secure ICs, modules, connected devices
• Automotive & Industrial: connected components and gateways
• Public Sector & Citizen ID: government-grade identity and access systems

EUCC certification benefits both product developers and end-users. It mitigates security risks by providing independent assurance that critical ICT systems are free from vulnerabilities, building user trust and confidence in their secure deployment. Certified products gain a market advantage with a single, recognized certification valid across the EU, eliminating the need for multiple national certifications and reducing time-to-market. This development ensures Keysight clients can effectively enter and compete in the unified European market without the burden of multiple national certifications.

“Keysight’s EUCC accreditation means we can test and evaluate hardware and software solutions against Europe’s highest security standards. EUCC also acts as a compliance tool for the Cyber Resilience Act (CRA), allowing certified products to be presumed compliant with relevant CRA obligations. This gives our customers a clearer, faster path to bringing secure products to market,” said Gerrit van der Bij, Compliance Lead at Keysight Device Security Lab.

Preparing for Post-Quantum Security 

As cryptographic standards evolve, EUCC is aligning with next-generation requirements. The 2025 update of the Agreed Cryptographic Mechanisms (ACM) includes Post-Quantum Cryptography (PQC) algorithms, emphasizing hybrid solutions for resilience. Keysight helps clients navigate this transition by advising on hybrid cryptography strategies and enabling secure, future-proof deployments in sectors where security is paramount.

Learn more about Keysight Device Security solutions and services on our webpage, or reach out to riscuresolutions@keysight.com.

COLUMBUS, Ohio, November 7, 2025 /3BL/ – As part of its ongoing commitment to building stronger, more equitable communities, KeyBank and the KeyBank Foundation have announced two philanthropic investments totaling $450,000 in support of economic empowerment and childhood nutrition in Ohio.

A $200,000 grant was awarded to Freedom Equity, a Columbus-based nonprofit focused on expanding access to capital for underserved small businesses. The grant is part of KeyBank’s bicentennial celebration, which includes $5.4 million in milestone grants across its 27 markets. Freedom Equity will use the funds to launch a Low-Interest Merchant Cash Advance (MCA) Alternative, designed to provide fair and transparent financing options to small businesses in Columbus that are often excluded from traditional lending.

“Freedom Equity was founded to improve access to affordable capital for underserved businesses,” said J. Averi Frost, President and CEO of Freedom Equity. “This grant will give our customers access to funds without creating the kinds of hardships that high interest loans with difficult terms sometimes create. We’re here to help eliminate barriers. As a community lender, fair and affordable lending options are central to our mission. We’re excited to be able to deploy this new product.”

In addition, the KeyBank Foundation has awarded a $250,000 grant to Children’s Hunger Alliance (CHA) to support its Early Childcare Program for In-home Providers and Childcare Centers. This initiative will deliver over one million nutritious meals and snacks to 3,400 children across Franklin County, while also expanding nutrition education and supporting 130 small childcare businesses – many of which are minority- and women-owned.

“KeyBank is showing a true commitment to the well-being of children in our community, and we’re thankful for their leadership and support in the fight against childhood hunger in Central Ohio,” said Michelle M. Brown, President and CEO of Children’s Hunger Alliance. “Strong partnerships like this make all the difference in helping us provide nutritious meals and food education to children right where they are, every day of the year, so they can reach their full potential and thrive.”

“At KeyBank, we believe thriving communities are built through economic empowerment, access to opportunity and support for families,” said Lara DeLeone, KeyBank Central Ohio Market President. “Freedom Equity is transforming the small business landscape in Columbus by giving entrepreneurs the tools to grow and succeed. Children’s Hunger Alliance is equally vital, ensuring thousands of children receive nutritious meals while strengthening the childcare ecosystem that working families rely on. These investments reflect our commitment to helping our neighbors build stability, resilience and long-term success.”

ABOUT KEYBANK
In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $187 billion at September 30, 2025.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

ABOUT KEYBANK FOUNDATION 
KeyBank Foundation is a nonprofit charitable foundation that supports organizations and initiatives aimed at improving financial wellness, education, and community development. Through strategic philanthropy, KeyBank Foundation works to create thriving communities and drive meaningful, lasting change.

 

Whirlpool Corporation recently supported Habitat for Humanity’s 39th Jimmy & Rosalynn Carter Work Project in Austin, Texas with grants for the construction of 10 net zero-energy ready homes through the BuildBetter with Whirlpool Program. The Carter Work Project honors President Carter’s lifelong commitment to creating decent, affordable homes. This year, it brought together more than 1,000 volunteers from around the world to build 25 affordable, energy-efficient homes. The homes are in Whisper Valley, a sustainable living community, and the first large-scale, planned community in the U.S. to leverage geothermal energy to reduce energy consumption by up to 80 percent. 

The BuildBetter with Whirlpool program was designed to support the construction of climate-resilient, energy-efficient homes, and to scale and implement best practices across the U.S. The 10 BuildBetter homes in the Whisper Valley community will use solar shingles, further reducing energy usage to achieve net zero performance. In addition to the grants, Whirlpool Corporation employees volunteered on-site, working side by side with Habitat homeowners, staff, volunteers, and partners to help construct these homes.

“The Jimmy Carter Work Project represents the best of collaboration, innovation and community spirit,” said Marc Bitzer, Whirlpool Corporation chairman and CEO and member of the Habitat for Humanity International Board of Directors. “Through our BuildBetter with Whirlpool program, we are proud to help advance sustainable housing solutions that build long-term affordability into every home, with a focus on delivering high-quality, energy-efficient homes.”

Since its launch in 2021, the BuildBetter with Whirlpool program has led to the construction of more than 260 climate-resilient and energy-efficient homes nationwide. These homes save homeowners an estimated 45 percent on energy costs compared to average new homes, while reducing greenhouse gas emissions by approximately 15 percent per home. The goal of the program for the next two years is to deliver 50 net-zero energy or net-zero energy-ready homes with features such as solar panels, high-efficiency heating and cooling systems and energy and water efficient appliances based on the homeowner and geographic needs.

Whirlpool Corporation has an ongoing commitment to sustainable housing and community empowerment. In addition to the Carter Work Project in Austin, Whirlpool Corporation, Habitat for Humanity of Monroe County, and Indiana University’s Kelley School of Business recently celebrated 15 years of collaboration in Bloomington, Ind. with the construction of five new net-zero homes in the Osage Place neighborhood. In addition, Whirlpool Corporation broke ground on “Project T,” a transformative redevelopment initiative in Benton Harbor, Mich., also home to the company’s global headquarters. This initiative will redevelop the site of the former Mercy Hospital to construct 14 duplex buildings, marking Phase One of a project that will deliver up to 77 new homes when complete and will help revitalize a Benton Harbor neighborhood.

For more than 25 years, Whirlpool has supported Habitat’s mission to ensure families around the world have access to safe, decent and affordable housing. For more info about Whirlpool Corporation and its support for Habitat for Humanity, visit whirlpoolcorp.com/HfH.

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About Whirlpool Corporation

Whirlpool Corporation (NYSE: WHR) is a leading home appliance company, in constant pursuit of improving life at home. As the only major U.S.-based manufacturer of kitchen and laundry appliances, the company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. In 2024, the company reported approximately $17 billion in annual sales – close to 90% of which were in the Americas – 44,000 employees, and 40 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.

Team reaches more than 1,200 students and families with nuclear education

Nuclear Science Week is an international, broadly observed week-long celebration to focus local, regional and international interests on all aspects of nuclear science.

During Nuclear Science Week, celebrated on the third week of October each year, Entergy’s nuclear fleet boosts outreach by hosting activities, events and plant tours in our communities.

Nuclear headquarters

To kick off the week, the Women in Nuclear chapter at our Nuclear headquarters hosted more than 40 Girl Scouts, along with their parents at headquarters, helping the scouts earn their nuclear patch. The scouts kicked off the day with an engaging presentation on nuclear science, atoms, and how nuclear power generation works, before rotating through seven interactive stations. Topics included everything from half-life demonstrations, radiation and learning about women in science. Company leaders opened the event and shared words of inspiration and welcomed the families, scouts and troop leaders to learn about the importance of clean, carbon-free energy.

On Wednesday and Thursday, the WIN chapter continued its Nuclear Science Week community outreach at Callaway High School, engaging with nearly 200 seniors educating them about nuclear science and career opportunities at Entergy. Chief Nuclear Officer John Dinelli was in attendance and encouraged students to pursue nuclear careers right in their backyard at Entergy. During the event volunteers shared personal insights into nuclear careers, trade paths, military service and other Entergy operations careers while also coaching students on elevator speeches, professional communication, and life skills that will serve them well in any future endeavor.

Nuclear headquarters’ WIN chapter visited North Jackson Elementary, their local adopted school, to teach nearly 100 fourth and fifth grade students about nuclear energy. A team of volunteers presented an interactive lesson called candy reactors, teaching students about the safety systems and redundancies inside nuclear reactors.

Arkansas Nuclear One

On Tuesday, team members from Arkansas Nuclear One visited Lamar High School to educate students and teachers about how we create clean, reliable and carbon-free energy for our communities.

Team members from ANO spent Wednesday speaking to Pottsville High School. More than 300 students learned about how nuclear energy is made, the history of the plant and the various career opportunities available to them.

On Friday, ANO’s team members visited Hector High School to speak to their career classes about jobs that students can pursue in nuclear energy upon graduation.

Grand Gulf Nuclear Station

For three days during Nuclear Science week, Grand Gulf Nuclear Station employees from WIN and North American Young Generation in Nuclear chapters hosted more than 300 local middle and high school students from six schools at the plant. During the plant tour, students participated in hands-on activities to learn about different craft trades, how electricity, what a day in the life of a security officer is like, how radiation protection technicians work to keep the public and employees safe, how a chemistry technician takes samples in the plant and much more.

River Bend Station

On Monday, River Bend Station partnered with the Episcopal School of Baton Rouge to build candy reactors with their fourth graders and discuss nuclear science career opportunities with their high school engineering class.

On Tuesday, River Bend Station hosted team members from the Louisiana Department of Environmental Quality, Louisiana Department of Conservation and Energy, National Governors Association, Louisiana Public Service Commission, Louisiana Workforce Commission and American Chemical Society to educate their teams on the benefits of nuclear energy.

On Wednesday, River Bend Station visited Zachary High School’s robotics class to present their robotics team with a donation and discuss different ways we use drones throughout our nuclear fleet.

Waterford 3

The WIN chapter at Waterford 3 Steam Electric Station partnered with the St. Charles Parish Library to host a STEM fair where visitors of all ages explored the world of science and innovation. Attendees participated in hands-on activities like radiation protection training, virtual reality, robotics, reactor engineering and more. It was an evening filled with curiosity, creativity and opportunities to spark a lifelong interest in STEM.

The WIN chapter at Waterford 3 also celebrated Nuclear Science Week at Metairie Academy for Advanced Studies. They had over 120 students build candy reactors and dress out like a nuclear worker.

Inspiring the next generation of nuclear professionals

Through community partnerships like these, our teams are showcasing the value and safety of clean, reliable nuclear energy and what careers are possible for our next generation of leaders.

If you’re interested in learning more about nuclear at Entergy, follow us on X at @EntergyNuclear or visit our website www.entergy.com/nuclear.

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