Tag: 3BL

HAMILTON, Bermuda, January 15, 2024 /3BL/ – Bacardi Limited commits to donating $100,000 to the American Red Cross to help people affected by the 2025 California wildfires following massive destruction in the area. In addition, the family-owned company is mobilizing pallets of water to assist first responders on the front lines. Separate from this donation, Bacardi is providing support to its people directly impacted through relief assistance, flexible work schedules, free counseling services, and more.

“As a family-owned company, we believe in coming together in times of need and hope that this contribution is part of larger efforts to rebuild homes, communities and livelihoods,” says Tony Latham, Regional President Bacardi North America. “Our hearts and compassion go out to the many who have lost so much and we want them to know they are not alone.”

Bacardi funding will support the Red Cross relief efforts on the ground across Southern California. Already, more than 400 Red Crossers are are on the ground providing support and the organization is coordinating closely with local partners to provide food, shelter, emotional support and other critical aid. With the help of partners, the Red Cross has provided more than 20,000 meals and snacks, along with relief items, including hygiene supplies, for thousands of affected families.

“The American Red Cross is on the ground helping those impacted by the devastating wildfires in California,” says Anne McKeough, Chief Development Officer at the American Red Cross. “We are so grateful for partners like Bacardi as we work together to provide relief and hope for communities in the wake of this heartbreaking disaster.”

Corporate responsibility has always been a priority for Bacardi. Company founder and BACARDÍ rum creator Don Facundo Bacardí Massó began this tradition in 1862 when he volunteered as the chief organizer of disaster relief in his hometown of Santiago de Cuba after a horrific earthquake. Since then, the company continues to build upon his commitment to assist in times of catastrophic natural disasters. Most recently, Bacardi donated $100,000 to the American Red Cross to support relief across five U.S. states following Hurricanes Milton and Helene. In addition, the company supported relief efforts after Hurricane Dorion in 2019, Hurricanes Maria and Irma in 2017 and other moments of devastation for communities across the globe. At the start of the COVID-19 pandemic in 2020, Bacardi rapidly adapted 14 of its global production sites to help produce nearly 400,000 gallons (1.5 million liters) of sanitizer and donated more than half a million units to local communities, from postal workers and healthcare workers to firefighters and police, and nonprofit organizations.

About Bacardi Limited 
Bacardi Limited, the world’s largest privately held international spirits company, produces, markets, and distributes spirits and wines. The Bacardi Limited portfolio comprises more than 200 brands and labels, including BACARDÍ® rum, PATRÓN® tequila, GREY GOOSE® vodka, DEWAR’S® Blended Scotch whisky, BOMBAY SAPPHIRE® gin, MARTINI® vermouth and sparkling wines, CAZADORES® 100% blue agave tequila, and other leading and emerging brands including WILLIAM LAWSON’S® Scotch whisky, D’USSÉ® Cognac, ANGEL’S ENVY® American straight whiskey, and ST-GERMAIN® elderflower liqueur. Founded more than 162 years ago in Santiago de Cuba, family-owned Bacardi Limited currently employs more than 8,000, operates production facilities in 11 countries and territories, and sells its brands in more than 160 markets. Bacardi Limited refers to the Bacardi group of companies, ­including Bacardi International Limited. Visit http://www.bacardilimited.com or follow us on LinkedIn and Instagram.

Media Contact: 
Jessica Merz, VP Global Corporate Communications, jmerz@bacardi.com

Advancements in gut microbiome research could strengthen existing hunger treatments and prevent malnutrition relapse

Originally published in Think Global Health. 

Severe acute malnutrition (SAM) is the leading cause of death among children around the world—a crisis driven by climate change, armed conflicts, and widening inequality. Today, some 30 million children face SAM. Without treatment, a malnourished child is 11 times more likely to die than one who is healthy.

Researchers are working toward a better understanding of the connection between nutrition and gut health that would help in more effectively treating and preventing hunger-related deaths. Gut health is critical to overall well-being: An imbalance in bacteria can have negative impacts on the digestive, immune, and nervous systems. Recent research reveals that children who initially recover from SAM but later relapse are more likely to be suffering from a poor gut microbiome. Given this insight, scientists are presented with exciting new possibilities: What if they could influence the gut to help restore a healthy balance of bacteria and prevent relapse?

Read more in Think Global Health. 

Heather Stobaugh is a senior research and learning specialist at Action Against Hunger.

About Action Against Hunger

Action Against Hunger leads the global movement to end hunger. We innovate solutions, advocate for change, and reach 21 million people every year with proven hunger prevention and treatment programs. As a nonprofit that works across 59 countries, our 8,900 dedicated staff members partner with communities to address the root causes of hunger, including climate change, conflict, inequity, and emergencies. We strive to create a world free from hunger, for everyone, for good.

Originally published in FedEx’s 2024 Global Economic Impact Report

FedEx has been transforming transportation and logistics services for more than 50 years, advancing our purpose to connect people and possibilities around the world as a result. From pioneering overnight delivery to inventing package tracking to expanding international trade — innovation is in our DNA, which has empowered us to continue pushing boundaries to make supply chains smarter for everyone. These efforts enable the success of our customers, build prosperity in the communities where we operate, and accelerate the flow of goods and ideas that generate economic growth across countries and regions. We call this impact the FedEx Effect.

This report quantifies the FedEx Effect by showing the value of the company’s economic contributions around the world. For the fourth consecutive year, we have measured a range of factors, including the impact of our company’s revenues, capital expenditures, and spending on wages, as well as the ripple effects generated by our core services. To reflect the scale of our operations, we have calculated the impact that FedEx makes on the global economy as a whole, as well as on the economies of the United States and our major operating regions.

Today, FedEx connects the vast majority of the world’s gross domestic product. As a result of this reach, FedEx contributed more than $85 billion in direct economic impact to the global economy in fiscal year (FY) 2024.1 In addition to this direct impact, FedEx spending to maintain its operations and its business services stimulates economic activity at other companies across the global economy — which is considered the company’s indirect impact. In FY 2024, FedEx indirectly contributed an additional $39 billion in net economic output 2 around the world. In the global Transportation, Storage, and Communications sector,3 the company’s indirect impact was the largest contribution totaling an estimated $20.4 billion.

The extensive FedEx supply chain multiplies this impact. In calendar year (CY) 4 2023, FedEx contracted with approximately 100,000 suppliers, 90% of which are small businesses.5 FedEx spending with these suppliers drives further economic growth and supports local job creation.

Our global reach also gives FedEx a unique opportunity to make positive contributions to the world beyond the impact of our business activities. FedEx is committed to supporting the communities where we live, work, and serve through FedEx Cares, which provides charitable donations in the form of direct financial support, employee volunteering, and in-kind shipping services. FedEx is also investing in sustainable technologies such as electric vehicles (EVs) and renewable power to reduce the environmental impact of our operations, while contributing to the research and development of the next generation of sustainable breakthroughs, such as carbon capture.

While this report highlights the impact of our operations during FY 2024, FedEx remains committed to the spirit of innovation and progress on which our company was founded. We recently consolidated our major operating companies into Federal Express Corporation — becoming a single company operating a unified, fully integrated air-ground express network under the respected FedEx brand. The change will allow us to become a more flexible, efficient, and intelligent network to better serve our customers. We are also combining the data and insights from the 16 million packages we deliver per day globally with artificial intelligence (AI) and machine learning to create new digital tools and solutions that are helping us run and change our business, digitize our customers’ supply chains, and move up the value chain in e-commerce.

We believe that operating as one FedEx team is another milestone in our company’s history of bringing the world closer together. By continuing to foster connections between people and possibilities everywhere in the world, we can multiply our economic impact for years to come.

Read more

Click here to learn about FedEx Cares, our global community engagement program.

SALT LAKE CITY, January 15, 2025 /3BL/— KeyBank has awarded a $75,000 grant to People Helping People (PHP) in Salt Lake City, a nonprofit providing employment training and resources to low-income women and single mothers who are working towards financial self-sufficiency through long-term successful employment.

PHP offers a four-phased program for underserved females, focused on coaching, mentoring, developing employment strategies, and offering continued career development opportunities. PHP’s overall mission is to reduce the number of Utah families living in poverty by helping low-income women, primarily single moms, reach adequate income through sustainable employment.

“We believe that every woman is capable and deserving of achieving success and self-sufficiency. We promote this belief by helping our clients see the benefits of work, navigate barriers that they might be facing, and learn how to build the confidence needed to communicate their value to employers. Work looks different for all of us, but how we work and why we work is the differentiating factor. We meet each client where she is at and help her to see she is capable of extraordinary things,” said Kathryn Thomas, Executive Director, People Helping People.

Established in 1993, PHP is focused on creating an environment where single moms can gain the employment support needed to flourish in their careers and in life. The program supports more than 1,000 low-income women and single moms annually. The grant funds will be used to scale PHP’s program operations.

“People Helping People supports vulnerable Utah women with the employment training and resources needed today to help them flourish, thereby strengthening themselves, their families and their communities,” said Drew Yergensen, KeyBank Utah market president. “KeyBank is proud to support this admirable mission to help our neighbors and make our community stronger in the process.”

About People Helping People, Inc.
People Helping People is dedicated to reducing the number of children living in poverty by teaching low-income women, primarily single mothers, how to earn an adequate income through successful employment. While there is no one-size fits all approach, we believe that a good job with good benefits with a good company and long-term employment support can go a long way in helping single moms become financially self-sufficient. At PHP, we have seen firsthand over the last 3 decades how successful employment positively impacts the lives of women and their families. We believe that the only permanent route of our poverty is an adequate income. Our employment program, through the work of dedicated volunteers and staff, and community partners like KeyBank, creates and environment where single mothers and women can and will flourish both in their careers and in life.

About KeyCorp
KeyBank’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $190 billion at September 30, 2024. 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 is a Member FDIC. 

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As originally published by GoDaddy’s Venture Forward research initiative

Timeline: Venture Forward microbusiness reports

Over the years, we’re proud to have published and partnered on key reports. Select any listed below to download.

2020

Executive Summary: A New Measure of Digital ParticipationSummer 2020 Venture Forward ReportFall 2020 Venture Forward Report

2021

Summer 2021 Venture Forward ReportUCLA Anderson Forecast Microbusiness Activity Index (MAI) IntroducedMilken White Paper: Role of MicrobusinessesWinter 2021 Venture Forward Report

2022

Summer 2022 Venture Forward ReportUS Conference of Mayors Business Council 2022 Best PracticesMilken: Best Performing CitiesUCLA Anderson Forecast MAI Update

2023

Summer 2023 Venture Forward ReportUCLA Anderson Forecast 2024 MAI Annual Update

View more data downloads, recent press, and our research methodology at Venture Forward

Using data insights to support entrepreneurs

GoDaddy Venture Forward goes beyond reporting data. We use our research to engage and support civic leaders, policymakers, organizations and influencers who care deeply about nurturing entrepreneurial growth in communities around the world. We also dive deeply on trending topics to develop unique insights on the perspectives of microbusiness business owners.

Here are a few examples. More are available on the Venture Forward website.

PANEL
2024 Milken Institute Global Conference: GoDaddy Venture Forward Global Head, Alexandra Rosen, joined a panel to discuss the big impact of America’s small businesses.

MICROBUSINESS SUMMIT

The first of its kind Microbusiness Summit took place at Las Vegas City Hall in February 2024. Las Vegas was identified as having the second-highest number of microbusinesses nationally.

USE CASE

University of Missouri’s extension program created an interactive dashboard to visualize Venture Forward’s data and provide economic briefs for small business counselors and data training for professionals.

RESEARCH WEBINAR

In February of 2024, nearly 100 virtual attendees joined the Nasdaq Entrepreneurial Center, the Wells Fargo Foundation and GoDaddy Venture Forward to discuss fresh data on women-led entrepreneurship.

Download the full report.

GoDaddy Venture Forward 2024 Annual Report | U.S. Edition

This report is powered by the latest data from Venture Forward, GoDaddy’s research initiative to quantify the presence and impact of over 20 million global online microbusinesses on their local economies, while shining a light on the entrepreneurs behind them.

We’re here to support entrepreneurs.

January 15, 2025 /3BL/ – The Biomimicry Institute, a not-for-profit organization co-founded by Janine Benyus in 2005 to empower nature-inspired solutions for a healthy planet, today shared the Ray of Hope Accelerator Impact Report, showcasing the remarkable achievements of the program over the past five years. Since its inception, the Ray of Hope Accelerator has distributed $750,000 in non-dilutive funding to 49 impactful startups, 35% of which are women-led.

“Nature-inspired startups have the power to unlock a truly regenerative bioeconomy, one that works in harmony with our planet’s systems rather than against them,” said Sarah McInerney, Ph.D., Innovation Program Director. “For these past five years and for many more to come, we are committed to supporting a diverse portfolio of nature-inspired startups, equipping these visionary leaders with the tools to drive impactful, scalable solutions that go beyond sustainability and move us toward a future of abundance, resilience, and restoration.”

Collectively, the accelerator portfolio companies have raised over $125 million in funding post-program completion to scale systemic solutions to the world’s most pressing environmental challenges. The 5-Year Impact Report showcases how these participants are addressing pressing global issues, including food security, the development of safe new materials, and innovative renewable energy solutions.

The Ray of Hope Accelerator, supported by its founding sponsor, The Ray C. Anderson Foundation, is open to innovations across industries, technologies, and geographies. Each cohort is united by a common thread: they are science-driven, inspired by nature’s strategies, and committed to addressing at least one of the 17 UN Sustainable Development Goals.

“We at the Ray C. Anderson Foundation are incredibly proud to have supported the Ray of Hope Accelerator as it has flourished over the past five years,” said John Lanier, Executive Director, Ray C. Anderson Foundation. “The Biomimicry Institute ensures that startups learn from nature and thrive, creating new products, materials, and designs that address some of the biggest challenges of our time. As Ray Anderson was so fond of saying, these startups are ‘doing well by doing good’ with the natural world as their guide.”

On Wednesday, February 12, the Biomimicry Institute will host a virtual Demo Day, featuring the 10 innovative nature-inspired climate tech startup companies from the 2024 Ray of Hope Accelerator cohort, presenting their new technologies and products in a pitch-style event. To register for the event, click here.

For more information about the Biomimicry Institute and the Ray of Hope Accelerator, please visit www.biomimicry.org.

About the Biomimicry Institute

The Biomimicry Institute is a 501(c)(3) not-for-profit organization founded in 2006 that empowers people to seek nature-inspired solutions for a healthy planet. To advance the solution process, the Institute offers AskNature.org, the largest free, living database of biological strategies for sustainable innovation. The organization also offers biomimicry curriculum and educator resources, including the Youth Design Challenge, a multidisciplinary, project-based challenge that teaches students to solve problems through biomimicry; a Biomimicry Launchpad incubator program; and the Ray of Hope Accelerator supports nature-inspired startups to scale systemic solutions to the world’s most pressing environmental challenges. Most recently, the Institute launched a new collaborative initiative called Design for Transformation which will pilot technologies that convert discarded clothes and textiles into biocompatible raw materials.

Originally published on GEC’s New Feed

The Global Electronics Council (GEC) is proud to announce its membership in the Clean Energy Buyers Association (CEBA), a leading coalition of energy buyers, suppliers, and stakeholders committed to accelerating the transition to a carbon-free energy future.

CEBA’s more than 400 members include institutional energy customers of every type and size, from corporate and industrial companies to universities and cities. Together, CEBA members represent one-fifth of the Fortune 500 and account for more than $20 trillion in market capitalization. By joining this influential network, GEC strengthens its commitment to advancing sustainability across the global electronics industry.

CEBA’s mission to empower energy customers and scale clean energy solutions aligns seamlessly with GEC’s vision of achieving 100% sustainable electronics by 2050 for everyone, everywhere. GEC is honored to join CEBA alongside a distinguished group of new members, including Netflix, Chick-fil-A, and Waters Corporation. Together, these organizations represent a broad coalition united by the shared goal of advancing clean energy solutions and reducing carbon emissions.

As part of the CEBA community, GEC will collaborate with like-minded organizations to overcome barriers to clean energy adoption and contribute to innovative solutions that benefit the planet. Together with CEBA’s diverse membership, GEC aims to drive impactful change by supporting initiatives that reduce greenhouse gas emissions and promote renewable energy integration.

“Joining CEBA is a natural extension of our mission to enable sustainable practices within the electronics industry,” said Bob Mitchell, Chief Executive Officer of GEC. “We look forward to leveraging this partnership to amplify our efforts in driving systemic change and supporting our stakeholders in meeting their sustainability goals.”

CEBA’s robust network includes influential organizations from various sectors, all united by a shared vision of a clean energy economy. GEC is excited to contribute its expertise and collaborate on achieving measurable progress toward a more sustainable future.

Visit cebuyers.org to learn more about CEBA and its vision for a carbon-free energy future. Explore gec.org to stay updated on GEC’s sustainability initiatives, partnerships, latest updates and more.

Together, we’ll advance innovation, collaboration, and action for a sustainable future.

CHARLOTTE, N.C., January 15, 2025 /3BL/ – Truist Foundation today announced it will partner with Center for Disaster Philanthropy to provide over $20 million in disaster recovery grants in Western North Carolina as part of the Truist Cares for Western North Carolina initiative. Flooding in the aftermath of Hurricane Helene, which hit in September 2024, destroyed or damaged more than 250,000 homes across 39 counties in Western North Carolina with economic impacts reaching $53 billion. The grants will provide resources to help support and sustain critical housing and small business recovery and long-term resiliency in the region.

“Truist Foundation is dedicated to helping communities after disasters strike, and this collaboration represents a significant step forward in our effort to help Western North Carolina recover from the impacts of Hurricane Helene,” said Lynette Bell, president of Truist Foundation. “By joining forces with Center for Disaster Philanthropy and other trusted partners, we can leverage our collective resources and expertise to address critical areas of need, including supporting families with rebuilding homes and entrepreneurs with restoring their businesses. Together, we are committed to making community-driven grants to create an even stronger, more resilient region.”

Through the Truist Foundation Western North Carolina Recovery and Resiliency Fund, CDP will provide grants over the next several years to address medium- and long-term needs to help strengthen the region’s housing and small businesses. Grantmaking decisions will be guided by CDP’s assessment of damages as well as community capacity and unmet needs to support the area’s recovery. Nonprofit organizations will be invited to apply for funding based on the results of CDP’s assessments. To learn more or to submit a nonprofit organization interest form, click here.

“We are incredibly grateful to Truist Foundation for its commitment to the recovery needs of communities devastated by Hurricane Helene,” said President and CEO of the Center for Disaster Philanthropy Patricia McIlreavy. “This significant investment in the people of Western North Carolina allows us to strategically support the long-term needs of the area through comprehensive solutions that address the many aspects of recovery so that survivors can rebuild stronger. In taking this approach, we also ensure that communities are better positioned to withstand the next disaster.”

As part of the Truist Cares for Western North Carolina initiative, Truist Foundation will also provide significant grants to The Community Foundation of Western North Carolina for its Emergency and Disaster Response Fund, which will help nonprofits mitigate impacts of Hurricane Helene, and the American Red Cross for its long-term recovery program, which helps families and communities continue to rebuild in the months and years after disasters, including hurricanes.

Truist Cares for Western North Carolina is a three-year, $725 million commitment to support critical small business, housing and infrastructure needs in Western North Carolina as communities impacted by Hurricane Helene recover and rebuild. The commitment includes new, dedicated loan capital for local small businesses, residents and municipalities from Truist Bank, impact capital from Truist Community Capital, philanthropic giving from Truist Foundation and additional on-the-ground humanitarian support from Truist teammates to help establish long-term resiliency in this devastated region. For more information on this initiative, visit Truist.com/TruistCares.

About Truist Foundation

Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. The foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the foundation’s leading initiatives — the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading U.S. commercial bank, Truist has leading market share in many of the high-growth markets across the country. Truist offers a wide range of products and services through our wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $523 billion as of Sept. 30, 2024. Truist Bank, Member FDIC. Learn more at Truist.com

SOURCE Truist Foundation

Media Contact: Kristen Fraser, media@truist.com

Las Vegas Sands

On December 5, the United Nations celebrated International Volunteer Day, established by the U.N. in 1985 to honor volunteers and the spirit of volunteerism promoted at the local, national and international levels. The U.N.’s annual commemoration acknowledges the critical contributions volunteers make in their communities to support sustainable development.

Volunteerism comprises one of Sands’ core community engagement initiatives, and the company has set an ambition to contribute 250,000 Team Member volunteer hours from 2021-2025. The goal was initially set at 150,000 hours, but was surpassed in just two years.

“We achieved our original volunteer target through the tireless efforts of Team Members who accelerated their hours with pandemic-related service, as well as our ongoing community volunteer programs,” Ron Reese, senior vice president of global communications and corporate affairs, who spearheads corporate responsibility initiatives, said. “Thanks to their continued energy, enthusiasm and commitment, we’re on track to reach the updated mark. We have a tremendous volunteer spirit in every region of the company.”

As of the end of 2023, Team Members have contributed 222,823 volunteer hours and regularly support a broad array of volunteer engagements, including global signature events that cross Sands’ geographies along with each region’s hallmark events and community partnerships.

Global Volunteer Programs

Sands has two volunteer initiatives that take place in each region around the world – the Sands Cares Global Food Kit Build and the Sands Cares Global Hygiene Kit Build with Clean the World. The company launched these programs under its focus on hardship relief to provide people in need with essential food and hygiene supplies.

The third annual Sands Cares Food Kit Build took place this past spring, with a series of builds that kicked off in March at Marina Bay Sands when more than 330 Team Members, retail tenants and representatives from food beneficiary organizations assembled 5,200 food kits. The Food Bank Singapore distributed kits to nine local service organizations.

The corporate food kit build in Las Vegas followed in April with Team Members assembling more than 41,000 shelf-stable meals in partnership with The Pack Shack to benefit Three Square Food Bank. Sands China completed the 2024 series in June when more than 280 Sands China Team Members and volunteers prepared 3,000 food kits that encompassed 21 tons of food supplies for Caritas Macau.

The 2024 Sands Cares Global Hygiene Kit Build with Clean the World followed in the fall, with the series also beginning at Marina Bay Sands on October 2 and netting 30,000 kits in Singapore. Marina Bay Sands Team Members assembled Sands’ 1 millionth kit for Clean the World since the inception of the annual global kit build in 2014.

Sands China followed with a build event at the end of October, when 350 Team Members and community volunteers assembled 30,000 hygiene kits in just three hours for people facing hardships in Macao, Hong Kong and the Philippines. Corporate Team Members concluded the 2024 series in early November when they created 10,000 kits to aid homeless youth and adults, veterans and victims of domestic violence.

Signature Events in the Regions

Sands’ regions have also cultivated large-scale community initiatives with significant volunteerism components. Marina Bay Sands held its 10th Sands for Singapore Charity Festival in August. The cornerstone of the resort’s community engagement program, the festival encompassed 10 weeks of community events, entertainment and innovative fundraising efforts.

More than 4,000 Marina Bay Sands Team Members participated in over 20 volunteer activations and contributed more than 6,600 volunteer hours.

Sands China’s annual Sands Shopping Carnival, which offers a free platform for Macao businesses, especially SMEs, to showcase their goods and services to the community, also integrates the company’s community service organizations, and the company’s Team Member volunteer corps play a large role in their involvement. Sands Cares Ambassadors accompanied beneficiaries of community organizations to experience the carnival’s variety of attractions and facilitated participation of parents and children from the Macau Child Development Association in a cooking workshop.

Local Volunteer Traditions

Sands’ regions also have a number of cherished volunteer traditions for long-time community partners. Marina Bay Sands’ Team Members continued to provide regular volunteer service to The Singapore Food Bank by sorting donations and managing inventory at its warehouse throughout this year. In addition, Team Members undertook a third engagement for Care Singapore’s youth mentorship program, which has included bonding with mentees through workshops, volunteer activities and property tours.

Sands China Team Members continued support of the Macau Special Olympics with Sands Cares Ambassadors accompanying athletes at competitions and other enriching events and activities. Cleaning the homes of elderly residents before Lunar New Year is another of Sands China’s annual volunteer initiatives. Additionally, Team Members assembled 1,500 emergency response kits with the Macau Red Cross and helped create and distribute gift packs to children’s service providers in Macao for International Children’s Day on June 9.

Corporate Team Members in Las Vegas participated in a number of volunteer engagements through Sands Cares as well as the Uni+ed and EmpowHER Team Member resource groups. Efforts included sorting donations and clothing inventory for Dress for Success Southern Nevada, joining a fundraising walk to support Aid for AIDS Nevada, assembling kits of hygiene and personal care supplies for clients of The LGBTQ+ Center of Southern Nevada, and stocking Project 150’s boutique, which offers support to homeless and disadvantaged youth.

Team Members also participated in the annual 5K Santa Run for Opportunity Village, an organization that provides services to people with disabilities, on Dec. 7 and are gathering holiday gifts for scholars attending the Young Women’s Leadership Academy in Las Vegas.

Sands’ volunteer programs are aligned around the company’s four community engagement priorities: relieving hardship, advancing community partners, preserving local culture and heritage, and supporting education. 

To learn more about Sands Cares community initiatives, read the company’s latest ESG Report: https://www.sands.com/2022-environmental-social-and-governance-report/

Artificial intelligence (AI) bias is known to be AI’s ability to present biased results based on human biases that were incorporated in the training data or AI algorithm, leading to unfair and distorted outcomes. Bias in AI is the reflection of the broader biases that exist in society. As we increasingly rely on AI systems for decision-making in various domains and industries, there is a growing imperative to prevent biases and ensure fair outputs.

At IFS Unleashed 2024, a global customer conference that brings together business leaders, technology experts and industry innovators, a women’s leadership panel including Baker Tilly’s Cindy Bratel, led a discussion on how AI can exhibit bias. Data lies at the heart of AI bias. Historical data used to train AI models often reflects societal inequalities. One example of this emerged in the talent management space, where historical data reflected a societal bias favoring a single demographic, mostly men, for promotion due to traditional working patterns. The bias in the algorithm leads to skewed outcomes that disadvantage underrepresented groups. The challenge extends beyond gender bias and segments like economic conditions, geographical locations and age, significantly impacting AI decision-making.

The role of transparency and governance in preventing AI biases

Considering the biases we encounter across various sectors, the importance of transparency in AI algorithms cannot be overstated. As most industries continue adopting AI and digital systems continue becoming more complex, the need for training models to justify their decision-making becomes paramount. In sectors where decisions can impact an individual’s life, like banking and insurance sectors, it is essential to challenge the status quo while ensuring data models are assessed rigorously. This involves the broader context of the decisions that are being made by AI, such as the implications of lending money to individuals with specific financial history.

The solution lies in governance and continuous monitoring. If the biases are not caught within the systems, it can impact business growth and affect the ability of individuals to participate in the economy and society. Today’s organizations need robust frameworks to oversee the training models and deployment of AI in their systems. This would not mean slowing down innovation, which is crucial to ensure growth, but to bring a balance between governance and digital evolution.

How can businesses avoid bias?

The path forward requires continuous vigilance. Organizations must be prepared to pause or reevaluate AI systems that do not align with ethical standards or business values. Regular testing and monitoring should be encouraged as AI evolves and context changes over time.

Building diverse teams can emerge as a game changer in developing unbiased AI solutions. The focus on building such a team requires a shift from purely technical considerations to include broader skill sets and perspectives. This approach ensures that AI systems are developed with consideration for potentially diverse users and their needs.

Education and awareness at all levels within an organization are crucial in addressing bias. One of the ways to do this is by implementing mandatory training programs for employees as well as leadership teams. There is a growing recognition that sector knowledge combined with AI competency promotes ethical and diverse solutions.

How can Baker Tilly help

IFS Cloud integrates AI technology to help businesses like yours unlock new opportunities by turning data into smarter, faster and more reliable decisions. Baker Tilly is proud to be the No. 1 Top 20 – IFS Certified Partner. The team of Value Architects believes an ‘industry-first’ approach allows us to deliver maximum value to our customers with efficient and uncomplicated IFS solutions. Contact a Baker Tilly specialist to learn more.