Tag: 3BL

Franklin Templeton employees demonstrated remarkable dedication and community spirit by generously contributing their time and efforts to various volunteer initiatives throughout March. Their collective efforts not only fostered a sense of camaraderie and purpose within the organization but also made a tangible difference in the lives of those they served. By stepping up and giving back, Franklin Templeton employees exemplified the company’s commitment to social responsibility and community engagement.

Here are a few projects from company offices around the globe.

Rancho Cordova, California

Volunteers participated in a financial wellness challenge for students at St. Hope Public Schools. The challenge is an interactive budgeting simulation for high school students that gives them an opportunity to practice modern-day money management skills in a fun environment with no real-life consequences.

On March 19, Rancho Cordova employees volunteered at the student event of the Junior Achievement Stock Market Challenge. This unique and dynamic event brings together professionals from generous companies throughout the Sacramento region for a friendly competition while supporting youth education in the community. Franklin Templeton also participated in the corporate challenge, forming a team and winning the challenge.

Singapore

Building on the spirit and success of last year, on March 8, employees in Singapore participated in the Relay for Life 100km Challenge organized by the Singapore Cancer Society. This event supported cancer patients and raised awareness for this vital cause.

St. Petersburg, Florida

Employees in St. Pete visited Clothes to Kids, a nonprofit organization whose mission is to provide new and quality used clothing to low-income or in-crisis school-age children, free of charge. Employees volunteered to help sort and tag the donated clothes.

Poznan, Poland

Poznan employees hosted a toiletry drive through March in support of International Women’s Day, donating basic cosmetics that were packed into shoeboxes and delivered to Centrum Interwencji Kryzysowej in Poznan.

On March 15, Poznan employees volunteered to prepare and distribute meals to homeless people in Poznan. Volunteers prepared a meal and soup together with Zupa na Głównym and helped to distribute the food at the Poznan railway station.

On March 19, Poznan hosted the second edition of Clothes Swap, combining it with a charity event for Zupa na Głównym and a workshop on making animal toys with recycled materials.

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the Company offers specialization on a global scale, bringing extensive capabilities in equity, fixed income, alternatives, and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of March 31, 2025. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

Las Vegas Sands

Las Vegas Sands and Sands China were again included in the S&P Global Sustainability Yearbook, with the two companies recording the highest global environmental, social and governance (ESG) scores in the casinos and gaming category.

Sands China was the highest-scoring company in the casinos and gaming category, ranking among the top 1% of S&P global ESG scores, while Sands received designation among the top 10% of overall S&P global ESG scores. Sands and Sands China were among only seven companies in the casinos and gaming industry included in the 2025 yearbook, with 41 companies assessed. Sands was the only U.S.-based company in the casinos and gaming category listed in the yearbook.

The comprehensive annual overview of the state of corporate sustainability around the world is based on evaluation of ESG performance. More than 7,690 companies assessed for the 2024 Corporate Sustainability Assessment (CSA) were considered for inclusion in the S&P Global Sustainability Yearbook 2025. Distinctions are calculated against the top-performing company in each industry, and exclusions applied thereafter. This year, only 780 companies made it into the S&P Global Sustainability Yearbook.

These designations for Sands and Sands China are the latest recognition from the world’s leading reputational benchmarks that assess ESG performance. This past December, Sands was again recognized on the Dow Jones Sustainability™ Indices (DJSI), with placement on both DJSI World and DJSI North America for the fifth consecutive year. Sands China was named to DJSI World and DJSI Asia Pacific for the third consecutive year.

Sands also was included in Newsweek’s America’s Most Responsible Companies 2025, ranking 60th out of 600 companies, and was highest among the 19 companies making the list in the hotels, dining and leisure industry.

“As we strive to push our performance forward each year, the stringent CSA assessment provides an important benchmark for the impact we are making in the areas we’ve prioritized,” Katarina Tesarova, senior vice president and chief sustainability officer, said. “Recognition in the yearbook demonstrates our progress, yet we do not take inclusion for granted. We know we must continually advance to receive this important designation, and that is always our goal.”

With the goal of achieving measured and ongoing ESG progress, Sands established 2021-2025 ambitions to invest $200 million in workforce development, contribute 250,000 volunteer hours to its communities and reduce carbon emissions by 17.5% by the end of the period, mapping to its People, Communities and Planet corporate responsibility pillars. Sands will report its progress on these targets in the 2024 Environmental, Social and Governance report, which will be released in spring 2025.

To learn more about the company’s corporate responsibility initiatives, read the latest environmental, social and governance report: https://www.sands.com/resources/reports/.

When it comes to delivering perishables like fruits, vegetables, and seafood, time isn’t just money—it’s a matter of quality and trust. Ecuador, a country celebrated for its rich agricultural and aquaculture sectors, faces unique challenges when ensuring these goods reach global markets intact. At the heart of overcoming these challenges lies one key element—seamless logistics.

The Backbone of Ecuador’s Perishable Trade 

Perishables are central to Ecuador’s economy, with the country standing as a leading exporter of bananas, shrimp, and roses. Ensuring these goods maintain their freshness from farm to table demands a sophisticated, high-performance supply chain.

It’s not just about moving cargo from point A to point B. The success of Ecuador’s perishable exports depends on agility, reliability, and innovation. Every minute counts in maintaining the cold chain, minimizing transit times, and navigating potential bottlenecks.

At DP World, we have made significant long-term investments to enhance logistics efficiency, including expanding infrastructure at the Port of Posorja. These efforts are yielding results—Posorja set a new record for container-handling volumes in 2024, with new service routes driving an 87% increase in container throughput to nearly 1 million TEUs. Today, Posorja is Ecuador’s No. 1 port by market share, a milestone achieved in just five years.

This growth isn’t just about numbers. It’s about ensuring perishable goods remain fresh, meet global standards, and reach international markets quickly and safely. In 2024, more than 100 million boxes of bananas were exported through DP World’s deepwater port in Posorja—doubling the previous year’s volume. DP World now holds a 28% share of Ecuador’s banana export market, reinforcing our role in strengthening the nation’s supply chain.

“Day by day, we work with the entire logistics chain to connect Ecuadorian products with the world’s major markets, providing the high connectivity, security, and efficiency that our port, economic zone, and logistics services offer.” 

— Carlos Merino, CEO of DP World in Ecuador, Peru & Colombia. 

Tackling Challenges with Innovation and Collaboration 

Transporting perishable goods comes with its own set of challenges, from unpredictable weather to shifting global demand. Any delay can have serious consequences—not just in terms of financial loss, but also for exporters’ reputations and the livelihoods of workers along the supply chain.

To address these complexities, DP World has implemented advanced solutions to enhance visibility, efficiency, and flexibility across Ecuador’s logistics ecosystem. By leveraging technology and collaborating with industry stakeholders, we are minimizing disruptions and creating certainty for exporters.

For example, security systems ensure the cargo’s condition is maintained throughout transit, while our state-of-the-art cold chain infrastructure at Posorja ensures optimal storage conditions. Additionally, streamlined documentation and customs clearance processes reduce wait times, keeping goods moving seamlessly.

Creating Economic Impact, One Shipment at a Time 

The benefits of an efficient logistics network extend beyond trade—they directly impact people’s lives. When a shipment of Ecuadorian shrimp reaches its destination on time, fishermen see stable demand, exporters build stronger relationships with buyers, and consumers worldwide enjoy high-quality products. Meanwhile, local communities benefit from the economic contributions that global trade brings.

Since its inception, DP World’s Port of Posorja has been a catalyst for economic development. During its construction phase, the project generated over 1,800 direct jobs and 7,000 indirect jobs. Today, the port provides more than 700 direct jobs, with half of our employees coming from surrounding areas such as Posorja, El Morro, Playas, and Isla Puna.

Beyond job creation, Posorja is a model of innovation and sustainability. As Ecuador’s first fully greenfield deep-water port, it features modern security measures—including the country’s first implementation of X-ray scanners—along with a 21-kilometer access road and an exclusive deep-water channel, enabling large vessels to dock at full capacity.

To safeguard Ecuador’s perishable exports—particularly bananas and shrimp—the terminal is equipped with refrigerated inspection chambers, 2,457 reefer plugs, automated gates, and an integrated surveillance system. These enhancements strengthen the cold chain and ensure exporters can meet the highest quality standards.

A Future-Forward Vision for Ecuadorian Trade

The expansion will boost Posorja’s position as a key regional and global trade hub, strengthening Ecuadorian foreign trade and the country’s competitiveness.

Beyond port operations, DP World is also driving logistics innovation through the Logistics and Industrial Park in in Posorja with connection to the deep-water terminal . This facility offers tailored solutions for industries including automotive, beverages, textiles, and raw materials, adding value to imported cargo through tax and financial incentives.

In addition, customers can benefit from a variety of logistics services complementary to port operations, such as Freight Forwarding. In Ecuador, DP World also has a Logistics Center strategically located in the industrial zone of Durán. In this modern and secure infrastructure, DP World offers services such as an empty container depot, a container yard, cargo warehouses, consolidation, and deconsolidation services for dry and fresh cargo.

Looking ahead, DP World is expanding its deepwater port with a new berth expansion, positioning Posorja as a critical regional and global trade hub. The expansion will extend the terminal’s berth to a total length of 700 meters, allowing the simultaneous servicing of two post-Panamax vessels at full capacity. This development is further supported by new state-of-the-art port equipment, including gantry cranes and additional machinery to enhance efficiency.

With Posorja now established as Ecuador’s leading port by market share, the focus is on building a seamless logistics ecosystem that meets the evolving needs of customers and communities.

Driving Growth Through Seamless Supply Chains 

The landscape of perishables logistics is evolving rapidly, and DP World is at the forefront of this transformation. By fostering seamless connections and supply chain efficiency, we are not only enabling trade but also supporting the broader economic and social development of Ecuador.

Our commitment is clear: to ensure Ecuador’s rich agricultural and aquaculture sectors continue to thrive, backed by robust logistics that bring global markets closer. Through investment, collaboration, and innovation, we are pushing the boundaries of what’s possible in logistics, ensuring that trade benefits every link in the supply chain—from farmers and exporters to consumers worldwide.

As we look to the future, one thing remains certain: seamless supply chains have the power to transform industries and improve lives. With our expertise and commitment, DP World will continue to play a pivotal role in connecting Ecuadorian products to the world, strengthening the nation’s position in global trade.

Never underestimate the power of stepping forward. In 2024, as a united team, we leaned into our Environmental, Social and Governance (ESG) strategy, igniting a spark of innovation, dedication and commitment to progress that propelled us in ways we never imagined. Never willing to settle, we know that improving and creating greater change only comes with taking the next step. 

The 2024 Impact Report gives an inside look at the work and achievements that positively impacted our clients, communities and the planet. Here’s a snapshot of what Baker Tilly accomplished: 

• Staying in shape: Our team members stay in top shape and are ready for anything our clients need. Last year, they spent over 7,100 hours on required monthly training, with real-life scenarios, to ensure their innovation practices were sharp and ready.   
• Hit play: Our curated courses for team members continued to help them grow and gain professional insight into topics ranging from inclusion concepts to environmental, sustainability and governance issues.
• The gift of giving: In 2024, our stewardship dedication was a shining star, with record-breaking participation in our annual Baker Tilly Wishes giving program, perfectly reflecting the shared value of making a difference in our communities.
• We love records: As we strive to become more environmentally sustainable, we emphasized data collection across our firm in 2024, including in real estate, utilities, travel, finances, purchasing, policies, risk and our overall business strategy.
• Best of the best: For the first time, we received a spot on Forbes’ list of America’s Best Employers for Women – an achievement that highlighted our dedication to creating a truly supportive and inclusive environment where women can thrive.
• We belong: In 2024, we continued to focus on making our practices transformational and rooted in belonging.   

Ready to see how we are making a difference? We invite you to read our 2024 Impact report to learn how our commitment to our people, clients and communities was put into action.

CHICAGO, April 17, 2025 /3BL/ – Northern Trust (Nasdaq: NTRS) donated more than $14 million last year to non-profit organizations around the world that are working to provide food and housing security, healthcare access and educational opportunities.

Additionally in 2024, Northern Trust contributed $70 million to the Northern Trust Foundation for future charitable gifts, and employees gave nearly 120,000 hours of their time to support charitable organizations globally. Over the past decade, Northern Trust has donated $240 million to nonprofits worldwide.

These key data points – and some of the stories behind the numbers – are detailed in Northern Trust’s 2024 Philanthropic Impact Report.

“This report outlines important work done by Northern Trust and our employees in all corners of the globe, supporting individuals with food and housing security, healthcare access and educational opportunities,” Chief Social Impact Officer Shana Hayes said. “Studies show that when essential human needs are met, benchmarks of long-term financial success—career opportunities, savings and home ownership—rise substantially, and paths to improved opportunity become more accessible. In support of those paths, Northern Trust continues to deploy our long-term community investment strategy designed to drive individual advancement and broader wealth creation.”

“I’m also thrilled that our employees set a new record for volunteerism in 2024, dedicating time during our global month of service and throughout the year to benefit 2,000 organizations and countless individuals.”

In all, Northern Trust’s Philanthropic Impact in 2024 included:

• Food Security: 4,255,935 meals provided
• Affordable Housing: 252,189 nights of safe shelter
• Quality Education: 47,871 students received guidance and education
• Accessible Healthcare: 158,326 individuals received healthcare services

Northern Trust offers staff two paid days annually to volunteer with charitable organizations and awards grants for eligible charitable organizations where our employees volunteer. During “Achieving Greater Together,” our signature month of service in October, employees hosted blood donation drives in India, walked shelter dogs in Luxembourg, packed hygiene kits for the unhoused in the Philippines, assisted with food donations in the United Kingdom and prepared meals at local Ronald McDonald Houses in the U.S.

In all, staff contributed a record 61,000 hours of service during the month for more than 1,600 nonprofit organizations in 20 countries. Northern Trust also donates 50 meals for every hour employees volunteered during the month of October through The Global FoodBanking Network, European Food Banks Federation and Feeding America. This year, Northern Trust contributed more than 3 million meals.

Examples of work Northern Trust has helped fund, as highlighted in the report, include:

Food Security
Citymeals on Wheels, New York City

In New York City, many housebound seniors suffer from hunger and loneliness. Citymeals on Wheels steps in to ensure older people have continuous access to food every day of the week, backed by donors like Northern Trust. Because Citymeals’ staff and volunteers deliver door-to-door, they provide a lifeline of vital human contact. Last year, they delivered over 2 million meals.

“Volunteers don’t just deliver nourishment but compassion to our neighbors, too many of whom live alone,” said Northern Trust Wealth Management Northeast President Carlos Arrizurieta, who serves on Citymeal’s board.

Housing
Raphael House, San Francisco, California

Raphael House helps low-income and unhoused families build better lives through stable housing and financial independence. Raphael House assists each family to search for a permanent home, while providing them with a private room, meals and clothing. Families also participate in a variety of ongoing supportive programs, such as financial literacy and career development, so they can work toward self-sufficiency. The Adopt-a-Family program gave 165 families essential resources and holiday assistance in 2024, with funding from Northern Trust and others. Northern Trust Wealth Strategist Richard Toft is part of the Raphael House executive leadership council.

“I can’t express in words how much Raphael House has saved each of us when we were in our darkest moments,” said one Raphael House client. “Thanks so much again a million, zillion times over.”

Education
Circle Collective, London

Circle Collective supports young people facing barriers to permanent, life-changing work. It gives them the tools to achieve financial independence for the longer term as well as on-the-job experience to boost skills and self-belief. In the past year, its training assisted 67 young people, including two corporate insight sessions in which Northern Trust employees gave interactive workshops on presentation skills and career paths. Circle Collective also took part in a recruitment session at Northern Trust’s London office where varied teams described potential job opportunities. These live sessions with seasoned professionals are key to building young people’s confidence and set them on the path to success.

“The insights from Northern Trust gave me a clearer perspective and the confidence to make better decisions,” said one Circle Collective participant. “The presentation part especially helped me feel more confident for my interviews and in speaking with professionals.”

Healthcare
Suhrud Mandal, Pune, India

Every year, 25,000 babies in India are born with hearing impairments, leading to huge learning, social and development challenges. Early intervention—hearing aids, language training and tailored education—can change their future and Suhrud Mandal in Pune has been dedicated to supporting such children since 1973. Four special schools for 450 students provide not just basic reading, writing and math but also sports, arts and vocational skills, helping pupils gain confidence and independence. Northern Trust’s support in the past year has allowed the schools to upgrade classrooms, add new computers and enhance training facilities. Funding has also provided essential equipment and meals, ensuring the continuity of the school.

“Hearing aids are precious for deaf children, and these are digital and tailormade to take into consideration the hearing impairment of each child,” said one teacher at Suhrud Mandal. “Hearing-impaired students are now able to have conversations with others, making them feel happier and more connected.”

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2024, Northern Trust had assets under custody/administration of US$16.8 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

Contacts

Media Contact:
Doug Holt
Northern Trust
(312) 557-1571
Doug.Holt@ntrs.com

International Olympic Committee news

The International Olympic Committee (IOC) has welcomed the Political Declaration adopted unanimously by the 69th session of the Commission on the Status of Women (CSW69) in New York, reaffirming the importance of sport as a vehicle for gender equality and the empowerment of women and girls.

As stated in paragraph 11 of the declaration, UN Member States “also recognize the contributions of all women and girls, including adolescent girls, to their societies, and the opportunities to strengthen these contributions in decision making processes, and as agents of change as well as ensuring their equal access to safe, accessible and affordable digital technology and to inclusive and equitable quality education, including physical education and sports, and promote life-long learning as well as access to health-care services and to empower them and fulfill all their human rights and fundamental freedoms, and end all forms of violence and discrimination against them.”

This acknowledgment builds upon a strong history of the CSW consistently recognising the contribution of sport to gender equality.

The transformative power of sport in accelerating gender equality

Speaking at a high-level ministerial roundtable organised by the Mission of Qatar, IOC Member Laura Chinchilla underlined the transformative power of sport in accelerating gender equality and social development. She urged Member States to engage more strongly with the sports sector for the advancement of social development of women and girls.

Participating in sports helps women and girls complete education, gain skills, and boost their economic contribution. Since 1995, sport has been repeatedly recognised by UN Member States as a powerful enabler of gender equality. This was reaffirmed yesterday, in the CSW69 Political Declaration.

Laura Chinchilla
IOC Member

Highlighting the efforts of the IOC and the Olympic Movement to close gender gaps on and off the field of play, her address also reaffirmed ongoing collaboration with public authorities, the UN, development banks, the private sector and civil society to promote the social development of women by enhancing safe and inclusive access to sport.

Chinchilla also highlighted the economic potential of sport, noting that the sector has grown by over 5 per cent annually for the past two decades and is projected to continue expanding. Chinchilla noted that despite these proven benefits, sport remains an underutilised tool in many government policies.

She called upon policymakers to collaborate with the sports movement to invest in safe, equal and inclusive sporting opportunities for women and girls, and emphasised that governments have a unique opportunity to leverage sport as a cost-effective tool for the development of women and girls, supported by development financing institutions.

Recognising the role of sport in advancing sustainable development

Since 1995, sport has been referenced in multiple policy documents pertaining to the rights of women and girls, notably the Beijing Declaration and Platform for Action, Beijing+5, and past Agreed Conclusions of the CSW. These documents have repeatedly emphasised the role of sport in fostering leadership, economic empowerment and social inclusion for women and girls.

The inclusion of sport in the CSW69 Political Declaration marks another milestone in the ongoing recognition of its role in sustainable development. As governments, international organisations and stakeholders continue to advance gender equality, sport remains a powerful catalyst for positive change worldwide.

Gathered at the UN Headquarters from 10 to 21 March, participants in this year’s CSW will take part in a series of meetings and discussions looking back on the developments since the adoption of the Beijing Declaration in 1995, and looking forward to the Second World Summit on Social Development – due to be held in Doha from 4 to 6 November 2025.

April 17, 2025 /3BL/ – The latest research from the third ‘State of ESG’ report by Malk Partners (Malk), a company of SLR, surveying Portfolio Companies and General Partners (GP) representing $2.6T in total Assets Under Management (AUM) found sentiment remains strong around delivering on sustainability ambitions, however there is reserved hesitation on ESG given political volatility.

Adoption of foundational ESG programming by portfolio companies and GPs maintains strong momentum, with 99% of survey respondents sharing that they integrate ESG into the investment process with some combination of firm-level ESG accountability, investment ESG diligence, and portfolio stewardship. Nonetheless, the findings reveal a shift in ESG engagement due to political pressure, particularly in the U.S. where a quarter (25%) of GPs may look to scale back their ESG integration efforts, while almost a third (30%) are planning to reduce ESG communication, highlighting the continued influence of anti-ESG sentiment in the political climate.

Despite the retraction of external-facing initiatives, ESG demand by Limited Partners (LP) continue to be a key driver of GP ESG programming (87%). Additionally, many GPs recognize the significant business benefits that can be realized through thoughtful ESG integration, with 41% of GPs citing value creation as a primary motivation for their ESG efforts, while 60% of portfolio companies believe there is potential to capture financial value through ESG.

This notion is further supported by GPs and portfolio companies in their approaches to prioritizing and addressing the challenges of climate and decarbonization. Notably, 58% of GPs and 42% of portfolio companies are now tracking emissions, marking an increase of 9% and 12% from 2023, respectively. While the journey toward achieving ESG-driven value is still evolving, it is evident that underlying sustainability factors are an essential component of success in today’s market.

Anastassia Bougakova, Senior Vice President, Head of Multi-Strategy Advisory & Solutions at Malk says: “Our research indicate that while ESG terminology may continue to shift – with 41% of respondents rebranding away from the ESG acronym – there is significant alignment between LPs, GPs, and portfolio companies on many underlying sustainability value drivers, such as climate resilience, employee wellbeing, and supply chain transparency. GPs continue to integrate ESG data and performance management into their fund-level programming, often at the request of LPs. Meanwhile, private market companies are increasingly seeing sustainability disclosure requests not just from their investors, but from customers, regulators, and employees. No matter what we call it in public discourse, sustainability is becoming synonymous with business resilience and is here to stay.” 

For a more detailed analysis of the research, download the full report: https://malk.com/esg-report/

ENDS

Notes to editors:

About Malk Partners

Malk Partners (Malk) is the leading advisor to private market investors for creating and protecting value through environmental, social, and governance (ESG) management and impact investing. Founded in 2009, Malk has supported many of the world’s top alternatives managers – including those in private equity, growth equity, venture capital, and private credit – by helping define ESG goals, achieve meaningful results, and guide portfolio companies in driving value creation and mitigating risks.

In October 2024, Malk was acquired by SLR, a global sustainability consultancy with over 4,500 technical consulting and strategic advisory professionals across Asia-Pacific, Europe, Middle East and Africa, Canada, North America and Latin America. Combining this global footprint with rich technical expertise and deep strategic knowledge, Malk can leverage expanded capabilities and resources to deliver world-class ESG strategies for its clients. Together, we bring a shared purpose of ‘Making Sustainability Happen,’ supporting businesses and investors across diverse industries and project life cycles.

For more information, please visit: www.malk.com

About SLR

SLR is a leading global environmental and advisory consultancy, with a team of over 4,400 talented professionals operating from a network of offices in Europe, the Americas, Asia-Pacific and Africa. With the purpose of ‘Making Sustainability Happen’, SLR’s ‘One Team’ of environmental and business consultants, engineers and scientists partner with clients throughout their project life-cycle, from strategy and design, through compliance and operations, to end-of-life and remediation.

Working on diverse and challenging projects, SLR specialises in the built environment, finance, industry, infrastructure, mining & minerals, and power & renewables sectors. Operating across more than 45 technical disciplines, SLR staff help a growing base of business, regulatory and government clients navigate the ever-shifting context of sustainable business.

Find out more about SLR: www.slrconsulting.com

This article is authored by Jenelle Shapiro, Sustainability and Circularity Leader, Trane Technologies.

We live in an era where finite materials and critical resources are being depleted at an alarming rate. To ensure the long-term health of our business and a thriving planet, we need to rethink how we leverage our limited resources while reducing our emissions. But how do we achieve that goal? Enter circularity – a system designed to maximize the functional life and value of products and materials while tackling climate change and biodiversity loss.

At Trane Technologies, we’ve embarked on a pioneering journey to build circularity into the core of our business, implementing circular systems throughout our value chain to drive innovation and impact at all levels.

By rethinking traditional design and production processes, we’ll spark the development of new materials and technologies. By expanding our internal systems and external supplier processes for material repurpose and repair, we’ll safeguard the environment and our supply chain. And by integrating circular systems throughout our operations, we’ll create improved business models that deliver long-term value.

A circularity definition

At its highest level, circularity is a system that maintains the value and usability of products, materials and resources for as long as possible while minimizing waste. To achieve this goal, we source products, equipment and materials efficiently and preserve their value to the fullest extent by reusing, redistributing, remanufacturing or recycling.

By embracing circularity, we’re creating a business ecosystem that is both more resilient and less carbon-intensive. The result? A future where the full transition to a circular economy helps scale profitability.

Six key circularity pillars

Our circularity strategy focuses on six key pillars that touch every stage of our value chain, from initial product design to end-of-life.

• Sustainable & circular design: We plan for the full equipment lifecycle during the product design stage, creating systems that are easily repaired, refurbished or recycled.
• Material selection: As we select materials, we prioritize those with low environmental impact, incentivizing a circular and sustainable supply chain.
• Maintain, prolong, share: We keep products and materials in use by maintaining them to extend their useful life while minimizing upgrades and unnecessary replacements.
• Reuse, redistribute: We use products and components multiple times for their intended purpose without significant modification, conserving valuable resources.
• Remanufacture, repair: Instead of disposal, we return our products or components into good working order by prioritizing upgrades, repairs, refurbishments or replacements of disassembled parts.
• Recycle: Whenever possible, we transform our scrap and end-of-life products back into their base materials to reprocess them into new products, minimizing waste and maximizing material quality and value.

Measuring impact: our circularity goals and key performance indicators 

Our primary goal is to increase our circularity capabilities throughout the business and reduce embodied carbon in our products and operations. Achieving this will help us reduce waste, conserve resources and create shared value with our customers and suppliers.

These circularity approaches will help us achieve our bold 2030 Sustainability Commitments – specifically our targets to reduce embodied carbon in our products by 40%, increase circularity in our systems design and send zero waste to landfills.

We’ve created several key performance indicators (KPIs) that will help us stay on target, including measuring the use of circular materials, tracking circular services and solutions and quantifying our greenhouse gas emissions impact. These high-level indicators are designed to help teams across our business set their own specific circularity targets to drive a circular transition at deeper levels of the organization.

Walking the walk: our circularity strategies, tools and resources

From design concept to end-of-life, our circularity strategies touch every facet of our value chain. Our core strategies include:

• Increasing our ability to integrate circularity considerations during the product design phase, integrating repairability, ability to remanufacture and recyclability from day one
• Reducing use of virgin, primary material while increasing and optimizing use of secondary, recycled or renewable alternatives
• Incentivizing suppliers and third-party organizations throughout our value chain to reuse, repair and remanufacture whenever possible

To implement these strategies, we’re facilitating cross-functional collaborations within our organization and outside collaborators. Internally, 19 leaders representing every Trane Technologies business and region serve on our Circularity Council, working to align our sustainability goals with our business strategies. Many more participate in our circularity working groups, breaking down silos and barriers across our organization to implement the most impactful activities and business models.

Externally, we’re working with key suppliers to create reverse logistics models and extend their remanufacturing capabilities. In addition, we’re collaborating with industry alliances like the REMADE Institute and the Remanufacturing Industries Council, and engaging with coalitions that facilitate stakeholder and policy engagement, like the Circular Economy Coalition, the World Economic Forum and the World Business Council for Sustainable Development.

We’re also giving teams across our business concrete tools and resources to make progress and measure their impact. In 2024, we conducted a groundbreaking circularity maturity assessment, evaluating our entire business to assess what we are doing well today and where we want to scale tomorrow. This resource will serve as our baseline, helping us measure our progress.

Innovative new tools, like our Design for Sustainability and Circularity (DfSC) module, will help us leverage design as a mechanism for change. By utilizing the DfSC tool, business teams – including product management, engineering and operations – are expected to make design decisions reflective of both quantifiable and actionable product-level decisions.

Circularity outcomes: reducing emissions for our business and our customers 

The circularity work we do around resource efficiency, waste reduction and product life reduces our upstream and downstream Scope 3 emissions as we transition our business to a circular economy. For example, rethinking our product design may reduce our raw material needs. Using scrap waste at our facilities or integrating remanufactured or repaired components into our products decreases reliance on virgin inputs.

Our circularity work also helps our customers reduce their Scope 3 emissions by addressing the indirect emissions throughout the lifecycle of the products they use. For example, equipment containing recycled content, recovered components or remanufactured parts decreases these emissions. Design for durability and repairability helps reduce new material needs. Our support with asset recovery at end-of-life helps minimize disposal emissions.

Implementing these innovative circular systems will require hard work, investment and shifts in both our way of thinking and our business processes. But this hard work will create value in multiple ways. The beauty of circularity is that it’s not an “either/or” proposition: integrating these practices into our core business operations will achieve better environmental and better business outcomes.

AMSTERDAM and HONG KONG and Oakland, Calif., April 17, 2025 /3BL/ – Issued today, the “Vietnam Country Report: Macroeconomic, Socioeconomic, and Industry Analysis” report, developed by Cascale with support from the Apparel Impact Institute (Aii), highlights the evolving macroeconomic landscape, sustainability challenges facing apparel and footwear manufacturing, and the rapid expansion of the consumer goods market in Vietnam. A strong economic outlook coupled with bold sustainability initiatives reveals a country poised to play a crucial role in global decarbonization efforts, even as tariffs threaten to put 5.5% of Vietnam’s GDP at risk and raise prices for American consumers (New York Times, April 6). Tariffs and other key topics impacting Vietnam will be on the agenda at the Cascale Forum: Ho Chi Minh City on May 14-15, as Cascale members and non-members alike – including manufacturers, leading brands, service providers, and supply chain partners – come together for an immersive event to address urgent sustainability challenges and opportunities. 

The report includes critical analysis of data from Cascale’s Higg Facility Environment Module (FEM) tool, exclusively available on Worldly. It is the first in a series of actionable reports filtering Higg FEM insights through a regional lens.

In 2023, over 1,200 verified Higg FEM submissions showed coal exacerbates carbon emissions in the region: 12% of apparel and footwear facilities use coal for energy, while 94% rely on electricity purchased from Vietnam’s coal-dependent grid. Although renewable energy accounts for less than 2% of the sector’s energy use, the analysis underscores opportunities for transformation to a low-carbon economy, including through the Industry Decarbonization Roadmap (IDR) developed by Cascale and Aii.

The report shows Vietnam can couple growth with sustainable manufacturing. Vietnam’s economy is expected to grow by 6.5% in 2025, outpacing regional peers. The manufacturing sector continues to be a key driver, contributing 23.88% to GDP in 2023. Additionally, Foreign Direct Investment (FDI) remains robust, reaching US$31.4 billion in the first 11 months of 2024, signaling investor confidence in Vietnam’s economic resilience. Employing around three million workers and generating an estimated US$71 billion in export revenues for 2024, the apparel and footwear sector is a vital component of Vietnam’s economy but faces significant sustainability challenges, including high energy consumption and carbon emissions. With commitments in place for a 65-70% increase in renewable energy by 2045 – reducing greenhouse gas emissions by a projected 70-80% – Vietnam is committed to supply chain decarbonization, in line with the IDR.

The report brings Cascale and Aii’s IDR into focus as a potential solution. By uniting manufacturers, brands, retailers, and stakeholders around shared goals, the IDR emphasizes collective accountability and pre-competitive collaboration to accelerate systemic change across the supply chain. With a science-based target of reducing supply chain emissions by 45% by 2030, the IDR drives measurable progress through various interventions, solutions, and programs. The IDR ensures resources are targeted, so low-carbon sourcing and other benefits can be realized. This means prioritizing action in the 10% of facilities across the textile and apparel supply chain – including some in Vietnam – that account for over 80% of global manufacturing emissions. By aligning with these initiatives, facilities in Vietnam can play a pivotal role in the global transition to a low-carbon economy.

“This isn’t merely about compliance—it’s about long-term competitiveness,” said Colin Browne, Cascale CEO. “Brands increasingly prefer suppliers who meet robust sustainability standards. Manufacturers investing in sustainability today will secure long-term brand partnerships tomorrow.”

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.

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This week, Coach announced a multi-year partnership with the WNBA, marking the beginning of a new chapter on the brand’s journey to champion self-expression and authenticity. As the official handbag partner of the WNBA, Coach will play a pivotal role in empowering players and fans alike. This collaboration embodies our core purpose, the Courage to Be Real, by inspiring people to confidently explore all facets of their identity.

The collaboration kicked off celebrations on April 14 with the WNBA Draft 2025 presented by State Farm® at The Shed in New York City. Throughout the evening, the WNBA Draft Orange Carpet presented by Coach welcomed the newest class of WNBA rookies.

This partnership is a testament to Coach’s ongoing commitment to innovation and societal impact. We are proud to be part of the WNBA Changemakers Collective, working alongside purpose-driven companies to enhance the player experience, build the brand, inspire innovation, increase media coverage, and drive business transformation.

Coach will also partner with and amplify the stories of five WNBA prospects who are bridging the worlds of sport and fashion as exceptional athletes who express themselves with their own unique style. The five WNBA prospects are Paige Bueckers (University of Connecticut), Hailey Van Lith (Texas Christian University), Aneesah Morrow (Louisiana State University), Kiki Iriafen (University of South California), and Sonia Citron (Notre Dame).

Coach CEO Todd Kahn said, “This is a sport where the most successful players have that perfect combination of daring confidence, an unshakable commitment to teamwork, and a shared dedication to the dream. I see many parallels in Tapestry and Coach’s own story – after all, Coach was the first company to commit to moving their headquarters to Hudson Yards, and back then we couldn’t conceive of a world where the WNBA would be holding its draft on an old railroad.”

Additionally, Coach will become the presenting partner of WNBA Pride, a platform the league launched in 2014, which marked the first time a pro sports league formed an integrated program to celebrate the LGBTQ+ community. In addition to a slate of nationally televised games, WNBA Pride presented by Coach will spotlight the third consecutive season of the Pride Is Love limited content series available on the WNBA App.