Tag: 3BL

On this episode of BuzzHouse, hosts Donald Bernards and Garrick Gibson sit down with Erica Mackie, CEO and co-founder of GRID Alternatives, the nation’s largest not-for-profit solar installer. Over the course of the episode, Don and Garrick talk with Erica about the $7 billion Solar for All program, launched as part of the Inflation Reduction Act. The conversation delves into challenges in reaching underserved communities, including policy and regulatory obstacles, solar readiness, utility partnerships and more. Press play and discover this informative and enlightening episode!

Multifamily housing resources

For articles, webinars and additional resources for developers, housing authorities, property managers, state housing credit agencies and lenders, visit Baker Tilly’s multifamily housing page.

BOISE, Idaho, December 6, 2024 /3BL/ — KeyBank has awarded a $300,000 grant to Children’s Home Society of Idaho (the Children’s Home) to support expansion of the nonprofit’s Care Farm Therapy Program for Treasure Valley children and adolescents experiencing mental health challenges.

The Children’s Home provides comprehensive mental health support to children and families through nature-based and animal-assisted therapies, medication management and school-based counselling services that are not readily available for disadvantaged families throughout the Treasure Valley.

The grant funds will help to expand the overall program, hire additional clinicians, provide training and certification for 15-20 nature-based and animal-assisted therapists, and also employ a psychiatrist to provide medication management. As part of the program expansion, the Children’s Home plans to form partnerships with additional Treasure Valley schools and add school-based clinicians and counselling services.

“The Care Farm Therapy Program is supporting vulnerable Treasure Valley children and their families with the mental health resources needed today to help them flourish as adults,” said Scott Schlange, KeyBank Idaho market president. “KeyBank is proud to support The Children’s Home in their admirable mission to support our youth and make our community stronger in the process.”

The Children’s Home provides a broad range of mental health support throughout the Treasure Valley. In addition to helping children and families cope with trauma, abuse, anxiety, and depression, they also provide peer support groups, community events, and outreach initiatives—ensuring that help is available regardless of financial circumstances.

“Accessibility is at the heart of our mission at the Children’s Home, and this partnership will allow us to expand our reach, making a lasting impact on the lives of even more children and families throughout our community,” said Grace Shimatsu, Children’s Home Society of Idaho Development and Fundraising Manager.

About Children’s Home Society of Idaho 
Founded in 1908, The Children’s Home Society of Idaho has been a beacon of hope for children and families across the state. Originally established to provide refuge for children in crisis, the organization has evolved to offer comprehensive mental health care and support services through its counselling centers and beyond. For more information, visit childrenshomeidaho.org.

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.

Eastman

KINGSPORT, Tenn., December 6, 2024 /3BL/ – Eastman Chemical Company (NYSE:EMN) hosted investors and analysts at its headquarters in Kingsport for its 2024 Circular Economy Deep Dive. During the event, attendees toured Eastman’s methanolysis operations and learned more about the company’s innovative and sustainable materials. Following the tour, executives provided an update on Eastman’s innovation-driven growth strategy, including financial projections for its circular economy initiatives.

Eastman’s Board Chair and Chief Executive Officer Mark Costa kicked off the event by reiterating the company’s unwavering commitment to its innovation-driven growth model. “Our key strategic themes remain unchanged since 2021,” said Costa. “We have remained committed to investing in our innovation-driven growth strategy, including our circular economy platforms, despite prolonged economic weakness. Our investments have resulted in strong financial performance relative to our peers. We continue to make great progress on our circular initiatives and have confidence that this new vector of growth will create value for years to come.”

Eastman is leveraged to a macroeconomic recovery and expects to generate significant EBITDA growth through its circular economy initiatives. The company projects that it will generate:

greater than $2.1 billion of EBITDA and approximately $1.6 billion of cash from operations in a normalized macroeconomic environment before the benefit of circular investments, andadditional EBITDA of >$500 million by 2029 through its circular initiatives:>$350 million of EBITDA from Kingsport, Tenn., and Longview, Texas, methanolysis projects, and$150 million–$200 million of EBITDA from its cellulosic biopolymer platform

The company also said it expects to generate an incremental $75 million–$100 million of EBITDA contribution in 2025 compared to 2024 from the Kingsport methanolysis facility.

To achieve these circular platform EBITDA targets, the company expects to continue to invest in organic growth for the next several years. Capital expenditures in 2025 are expected to be approximately $800 million. In 2026 and 2027, capital expenditures are expected to range between $800 million and $1 billion.

Executive Vice President and Chief Financial Officer Willie McLain stated, “The company is in a solid financial position. Our base businesses are strong and leveraged to an economic recovery. Our circular economy initiatives add to that strength, making Eastman an attractive growth opportunity not just for today, but for the foreseeable future.”

The projected Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) exclude any non-core, unusual, or nonrecurring items. Our financial results forecasts do not include non-core items (such as mark-to-market pension and other postretirement benefit gain or loss, and asset impairments and restructuring charges) or any unusual or non-recurring items because we are unable to predict with reasonable certainty the financial impact of such items. These items are uncertain and depend on various factors, and we are unable to reconcile projected EBITDA excluding non-core and any unusual or non-recurring items to reported GAAP net earnings without unreasonable efforts.

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2023 revenue of approximately $9.2 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

Forward-Looking Statements

This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, volumes, pricing, margins, cost reductions, expenses, taxes, liquidity, capital expenditures, cash flow, dividends, share repurchases or other financial items, statements of management’s plans, strategies and objectives for future operations, and statements regarding future economic, industry or market conditions or performance. Such projections and estimates are based upon certain preliminary information, internal estimates, and management assumptions, expectations, and plans. Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are detailed in the company’s filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov and the company’s website at www.eastman.com.

Media contact

Tracy Kilgore Addington 
1-423-224-0498 
tracy@eastman.com

Investors contact

Greg Riddle 
1-212-835-1620 
griddle@eastman.com

In this episode of ESG Talk, Mandi McReynolds is onsite in Baku at COP29 with Linda-Eling Lee, head of the Sustainability Institute at MSCI, to explore the evolving role of businesses in tackling global climate challenges. Listen in as they discuss key themes from COP29, including the rise of transition finance, the complexities of operating in a global economy, and the integration of AI into sustainability strategies.

Read more about the Sustainability Institute’s research here: https://www.msci-institute.com/.

Listen Now

Looking for more? Subscribe to the ESG Talk podcast on Apple, Spotify, and YouTube. 

ESG Talk is brought to you by Workiva, the world’s only unified platform for financial reporting, ESG, audit, and risk. Learn more at workiva.com.

As the 29th UN Climate Change Conference (COP29) opens in Baku, Azerbaijan, the global community continues to face an urgent call to action on climate change. Coordinated, innovative solutions are paramount to addressing this complex crisis, and advanced technology – especially AI – stands as a powerful enabler for transitioning to a net-zero economy. Recognizing AI’s potential to drive climate action, SAP has delivered two use cases that highlight how AI-driven sustainability software can streamline processes, eliminate manual work, and enhance precision.

With automated Emission Factor Mapping in SAP Sustainability Footprint Management and AI-assisted ESG Report Generation in SAP Sustainability Control Tower, SAP can support companies in setting meaningful environmental targets, ensuring compliance, and managing carbon footprints with heightened efficiency and accountability.

“Sustainability executives are on board with artificial intelligence. More than half say improving data analysis and consolidation using AI are top actions they will be taking over the next three years to enhance ESG capabilities.”

-Addressing the Strategy Execution Gap in Sustainability Reporting, KPMG, February 2024

Emission Factor Mapping in SAP Sustainability Footprint Management

To calculate product carbon footprints accurately, companies must assign emission factors to thousands of purchased products. Ideally, emission factors are provided directly by suppliers, but often companies need to use industry averages based on product attributes like name, category, or location. Up until now, this mapping process has been a manual, time-consuming, and error-prone task that required expertise in lifecycle assessment (LCA), determining the environmental impacts associated with all the stages of the lifecycle of a product, process, or service.

Drive scalability, standardization, and trust in carbon data exchange across your supply chain

Learn more

To help make this process easier and more efficient, SAP has introduced an AI-based capability within the SAP Sustainability Footprint Management solution. SAP’s AI engine can automatically suggest emission factor mappings for purchased products and services and can assign a similarity score to each recommendation.

For the mapping, SAP generates embeddings for both, emission factors from LCA databases and product data from the ERP system. Embeddings are vector representations – numerical representations of textual information to provide context and meaning of a text. Both sets of embeddings are saved in SAP HANA Cloud vector engine.

The system compares these embeddings to help identify the quality of the mapping and provide suggested results. This helps businesses reduce manual effort by up to 80% and calculate product and corporate carbon footprints quicker and with greater precision, even without LCA experts. It can also accelerate their sustainability reporting timelines and help them respond faster to regulatory demands.

AI-Assisted ESG Report Generation in SAP Sustainability Control Tower

In addition, SAP embedded a generative AI-powered reporting capability within SAP Sustainability Control Tower. Creating sustainability reports that align with internal strategies and meet external standards, such as the CSRD, is essential for staying compliant and transparent. However, gathering relevant environmental, social, and governance data and drafting these reports can be highly resource-intensive, involving multiple teams and complex data sources.

That’s why SAP’s AI capability helps generate comprehensive ESG report drafts based on best-practice templates and the company’s available ESG metrics. Once users select a template, AI can automatically collect the most relevant metrics from SAP Sustainability Control Tower, create graphs to visualize the data, and generate a polished report draft. That helps companies spend up to 98% less time collecting ESG metrics and up to 80% less time in creating a report.

Some key benefits of the feature include:

Efficient data utilization: The AI-powered solution leverages large language models and SQL grounding techniques, which help transform natural language inquiries into precise database queries that access real-time data from structured databases. That’s how it transforms raw data from customers’ systems into accurate, comprehensive reports tailored to specific timeframes.Visualization: The AI generates insightful textual content through SQL-based data retrieval, helping to ensure data integrity and compliance. Additionally, it creates visually appealing charts and tables to help enhance report clarity and understanding.Automated verification: Our robust system prioritizes data security by avoiding direct SQL query execution and employing a Retrieval Augmented Generation (RAG) process to help safeguard against informational discrepancies.

Watch a demo to learn more.

The Future of AI in Sustainability

The use cases above are just the beginning. AI’s potential to transform sustainability management is enormous, and at SAP we are accelerating the creation of use cases to be at the forefront of our customers’ sustainable transformation journeys. For example, users will be able to interact through natural language with SAP’s AI copilot Joule that can offer actionable recommendations and simulations to help improve environmental and social performance. And we will continue to apply AI to make the acquisition of sustainability data easier.

Using SAP’s ERP-centric, cloud-based, AI-enabled approach, we’re working to ensure AI’s massive potential turns into both real business transformation and sustainability outcomes. AI and technology can help us better understand and monitor the environment, improve energy efficiency, optimize resource management, and develop innovative solutions for reducing greenhouse gas emissions.

As COP29 convenes in Baku, it is essential for global leaders and decision-makers to fully explore AI’s transformative role in addressing climate change. The urgent demands of this crisis call for the kind of innovative, AI-driven solutions that can unlock greater precision, efficiency, and impact. By leveraging AI not only to streamline business operations but also to set and meet ambitious environmental goals, we are shaping a future where technology empowers businesses to thrive responsibly, contributing actively to a sustainable and resilient planet.

Gunther Rothermel is chief product officer and co-GM for SAP Sustainability.

ASHEVILLE, N. C., December 5, 2024 /3BL/ – This month, the first of 10 million trees pledged by the Arbor Day Foundation to accelerate tree recovery efforts following Hurricanes Helene and Milton will be handed out in Asheville. The Arbor Day Foundation will work in collaboration with local planting partner, Asheville Greenworks and funding partners, Bank of America and MathWorks.

“Asheville was undoubtedly among the most impacted by the back-to-back hurricanes this fall. Yet, in the wake of such immense disaster, hope still stands,” said Dan Lambe, chief executive of the Arbor Day Foundation. “Our team has been awed by the resilience of Asheville Greenworks and their eagerness to replant trees following Helene and Milton. We’re grateful to be in a position to empower these tree champions and lead on tree recovery efforts in Asheville and the many other communities and forestlands hit by these hurricanes. We know the road to full recovery is long, but we’re going to be there every step of the way, ready with millions of trees.”

By the end of December, 1,200 free trees will have been made available for reservation online at ashevillegreenworks.org/shop.

The Arbor Day Foundation’s pledge to help restore tree canopy in the six states affected by Hurricanes Helene and Milton will bring 10 million trees to the region over the next four years. The Foundation has been heavily invested in assisting disaster-affected communities and forestlands since Hurricane Katrina made landfall in 2005 and has planted and distributed millions of trees as a result. The work has aided recovery efforts following hurricanes, tornadoes, wildfires, and floods.

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.

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With harvest having just wrapped in some regions, and being full-steam ahead in others, CNH brand, Case IH, is already looking to 2025 with its combine ordering period for next year now open.

The Axial-Flow 260 Series includes dual Pro 1200 displays, providing a comprehensive view of every aspect of the 260 Series’ operation. The large displays feature an anti-glare screen for optimum visibility and allow for instant grain quality imaging for a real-time, high-definition look at harvested grain.

Case IH’s Harvest CommandTM combine automation technology really comes to the fore in the Axial-Flow 260 Series, and AF9 and 10 Series, designed to help refine the harvesting process by reducing the number of functions operators need to monitor in the cab.

The AF9 and AF10 Series have been designed with enhanced power, efficiency, sustainability and throughput in mind. The AF9’s 634 horsepower and the AF10’s 775 horsepower provide the power to maximise crop flow while increasing speeds, but without putting any additional pressure on the machine.

Read the full story here.

As Comcast NBCUniversal celebrates Veterans Day, they are proud to announce their recognition, for the third consecutive year, as the nation’s leading telecommunications company and a top-three overall employer in the Military Times’ “Best for Vets” rankings. Additionally, they are honored to be named a Top 10 Military Friendly® Spouse Employer for the first time, highlighting their ongoing commitment to supporting military families.

“At Comcast, we recognize that hiring and empowering veterans and military spouses strengthens our company,” said Mona Dexter, Vice President of Military and Veteran Affairs.

Our military-connected employees bring invaluable skills, adaptability, and dedication to their work, and we are proud to be recognized for creating an environment where they can thrive personally and professionally.

Mona Dexter

Vice President of Military and Veteran Affairs

In less than a decade, Comcast NBCUniversal has hired over 21,000 veterans, military spouses, and National Guard and reserve service members, offering them meaningful careers and opportunities for advancement. Their commitment to inclusivity and support is also reflected in their military-ready employee benefits, such as Military Spouse Transfer Assistance and their best-in-class Military Concierge services, which have set a high standard across the industry.

Comcast’s Veterans Network (VetNet) employee resource group is another great example of how their connection to the military community has influenced their company culture. With over 7,000 members, this group serves as a vital support system for their military-connected teammates, providing opportunities for mentorship, networking, and professional development. VetNet members also engage in several community-driven initiatives each year, including Wreaths Across America and Operation Old Glory.

The Military Times Best for Vets: Employers ranking is based on a rigorous, voluntary survey that assesses companies on their policies, practices, and benefits for veterans and their families. Similarly, the Military Friendly® Spouse Employers rating celebrates organizations that excel in supporting military spouses through policies that foster a supportive culture, provide career advancement opportunities, and ensure compliance with military-related regulations.

“Organizations earning the Military Friendly® Employers designation have wholeheartedly invested in comprehensive and impactful initiatives that bring about positive, life-changing results for our valued service members, dedicated military spouses, and esteemed veterans within their ranks,” said Kayla Lopez, Sr. Director of Partnerships at Military Friendly®. “We salute these exemplary employers who raise the bar and understand that hiring military personnel is not merely an act of goodwill but a testament to a standard that truly embodies sound business wisdom. Their commitment to integrating military personnel into their workforce not only reflects their compassion but also underscores their business acumen.”

In addition to these honors, Comcast NBCUniversal has earned the 2025 Military Friendly® Supplier Diversity Program Award, Top 10 Military Friendly® Brand Award, and Top 10 Military Friendly® Company Award.

To learn more about their commitment to the military community, visit military.comcast.com. Jobseekers can explore opportunities at Comcast Careers and NBCUniversal Careers.

By Liz Peters

This holiday season, it’s not a hit movie ticket or must-have toy you should be concerned with getting your hands on: it’s a pass to IWBI’s Social Sustainability Summit in New York City. On December 13, this groundbreaking, full-day event will be solely dedicated to driving the future of social sustainability. Don’t miss out.

Aligned closely with the “S” in ESG, from IWBI’s perspective, social sustainability is the practice of managing and optimizing an organization’s impact on its people, community and broader societal systems. Through IWBI’s ESG and Sustainable Finance initiatives, we bring this definition to life. We offer evidence-based interventions that help organizations improve health outcomes, track their progress and align their efforts with broader goals. This includes leading the conversation on integrating social sustainability into financial strategies.

Two powerhouses help activate this work. With a mixed background in public health, finance, law, sustainability–and of course, getting things done–Kelly Worden, Vice President, ESG and Social Sustainability, and Minjia Yang, Vice President and Head of Sustainable Finance, set an agenda for progress.

Hear from true experts as they break down why you should care about the influence of social sustainability now more than ever before.

In straightforward terms, what does “social sustainability” mean to you? How does it best relate to the built environment, organizational strategy and community empowerment?

Kelly:

Social sustainability means emphasizing the “people” arm of the original “people, planet, profit” definition of “sustainability.” From a profit-focused perspective, this emphasis makes sense as people are what give any company value: employees, customers, communities, supply chains and investors are all composed of people.

From a public health-focused perspective, this emphasis also makes sense as companies impact population health particularly through the social and economic determinants of health.

Social sustainability will manifest differently depending on the industry. Within my focus, I’ve seen a significant increase in market engagement with social sustainability over the past 10 years. Real estate companies first focused on occupant experience, then community engagement and now, increasingly, supply chain impacts.

Minjia:

Social sustainability is about embedding equity, inclusion and opportunity into the very fabric of how organizations operate. From my perspective, it’s not only about the built environment but also about creating systemic change through regulations and financial strategies that shape corporate and financial market behavior.

For example, regulatory frameworks like the European Sustainability Reporting Standards (ESRS) are pushing companies to be more accountable for their social impacts, and sustainable finance is enabling organizations to translate these social priorities into measurable outcomes. Social sustainability relates to how businesses can address the needs of their employees, supply chains, consumers and communities, ensuring that their strategies create value for all stakeholders while reducing risk and driving long-term success.

IWBI’s approach to social sustainability is rooted with a people-first, community-centric lens. Why is it important for organizations to care about social sustainability? Why should employees?

Minjia:

Organizations that integrate social sustainability into their strategies are future-proofing themselves. By addressing regulatory requirements or leveraging sustainable finance mechanisms, they’re not just complying but leading. This proactive approach reduces risk, builds trust with investors, and demonstrates a commitment to long-term value creation.

For employees, working at an organization that prioritizes social sustainability means being part of a workplace that values their well-being, equity and professional growth. It’s about creating environments where people feel valued and empowered, which drives engagement and innovation.

Kelly:

There is a growing body of research linking “social performance” to financial performance. IWBI’s Investing in Health Pays Back campaign highlights this research. [See infographic above.]

With various financial frameworks and systems taking greater steps to integrate ESG considerations, can you share a success story that highlights the real-world impact of this work?

Kelly:

Throughout the course of this year, IWBI teamed up with GRESB, the leading provider of ESG benchmarks for real estate, to host a series of industry roundtables focused on improving real estate investor engagement on social sustainability. With widespread interest, the roundtable series convened over 60 market leaders in New York, Sydney and London. Those discussions provided a glimpse into an industry in transition.

There is growing recognition of social sustainability’s importance. There are also remaining challenges related to standardization and measurement. Insights from the roundtables will inform the development of resources to guide more effective engagement on social sustainability, including developing a social sustainability dashboard that communicates the real estate industry’s social performance based on data currently gathered by the GRESB Real Estate Assessment.

Minjia:

We are glad to see more organizations using WELL as a social performance indicator in driving sustainable finance strategies. CapitaLand Development recently secured two sustainability-linked loans totaling $600 million, aligned with the WELL Standard and Singapore’s Green Mark certification. This dual alignment highlights a commitment to both environmental and social sustainability. By embedding measurable ESG targets into its financial strategy, CLD demonstrates how financial frameworks can drive meaningful progress in sustainable development and well-being, supporting broader goals like net-zero emissions and healthier communities.

There are several esteemed speakers set to attend the event in a beautiful, WELL Certified space. What’s the one reason we can’t afford to miss this event?

Minjia:

The panel Global Sustainability Regulations – Navigating the New Frontier provides an opportunity to delve into sustainability regulations from a genuinely global perspective, featuring insights from experts representing Asia, Europe, Africa and North America. As regulatory landscapes shift, understanding their regional interconnections is essential for businesses aiming to stay competitive and compliant. This session allows attendees to hear directly from policymakers and advisors shaping these frameworks, offering practical strategies to align operations with evolving ESG and sustainability standards. For those looking to navigate the complexities of global regulations effectively, this is a must-attend discussion.

Kelly:

I am most excited about how the Summit’s positioned to explore the topic of social sustainability through a variety of lenses and perspectives. Panel discussions will provide a look at how leading companies across industries are taking action, including the pharmaceutical, biotech, real estate and financial industries. We will close out the day by focusing on the critical topic of the just transition: how to elevate people and social equity as we transition to a greener, more sustainable economy.

Register today.

View original content here.

Eastman

KINGSPORT, Tenn., December 5, 2024 /3BL/ — A groundbreaking new study published in ACS Sustainable Chemistry & Engineering reveals that cellulose diacetate (CDA)-based foams made with Eastman Aventa™ compostable materials rapidly biodegrade in the marine environment. The article concludes that biodegradable, CDA-based foams are commercially useful and will not persist in our oceans as plastic pollution.

Scientists from Woods Hole Oceanographic Institution (WHOI), the world’s leading independent, nonprofit organization dedicated to ocean research, exploration and education, led the study. WHOI’s research and journal article focuses on CDA-based foams made with Aventa, which lost up to 70% of their mass after 36 weeks of incubation in seawater. In contrast, polystyrene foams — a material commonly used for food packaging — showed no signs of degradation. The study found that CDA foams degrade faster than any material evaluated under environmentally relevant marine conditions — more than quadruple that of paper and up to 1,000 times greater than solid polypropylene, polystyrene and polylactic acid (PLA).

“Foaming biodegradable bioplastics like Aventa offer a promising strategy to reduce the environmental impact of frequently mismanaged consumer plastics, particularly in food packaging applications,” said Collin Ward, associate scientist at WHOI and lead researcher for the study. “These materials not only degrade rapidly in the ocean but also support circularity and material efficiency.”

The study dives deeper into a systems-level assessment for redesigning plastic articles for food packaging applications, considering material performance, economics, sustainability and circularity. Aventa is a cellulosic material derived from sustainable wood pulp, ensuring a renewable and sustainable beginning of life, and its compostability translates into a sustainable end of life.

Polystyrene is commonly used in food packaging, but it is not biodegradable and is difficult to recycle. The study concludes, through calculations that include annual consumption rates and the social costs of pollution, that switching from polystyrene to CDA-based foams for food trays could potentially save society more than $1 billion by reducing costs associated with plastic pollution. The study highlights the need for holistic assessments of environmental impact to avoid swapping one issue for another.

“Traditional plastic foams face challenges in end-of-life management, often unintentionally ending up as plastic pollution in the environment,” said Jeff Carbeck, vice president of Eastman corporate innovation and care solutions technology.  “Eastman Aventa materials offer a sustainable alternative, and this research shows that CDA-based foams will not contribute to persistent marine plastic pollution.”

Aventa is also being used as a compostable solution for other single-use applications such as disposable straws and cutlery.

For more information, read the full article in the October 2024 issue of ACS Sustainable Chemistry & Engineering https://pubs.acs.org/doi/10.1021/acssuschemeng.4c05822 or visit www.eastman.com/aventa.

About Woods Hole Oceanographic Institution 

The Woods Hole Oceanographic Institution (WHOI) is a private, nonprofit organization on Cape Cod, Massachusetts, dedicated to marine research, engineering, and higher education. Established in 1930, its primary mission is to understand the ocean and its interaction with the Earth as a whole, and to communicate an understanding of the ocean’s role in the changing global environment. WHOI’s pioneering discoveries stem from an ideal combination of science and engineering — one that has made it one of the most trusted and technically advanced leaders in basic and applied ocean research and exploration anywhere. WHOI is known for its multidisciplinary approach, superior ship operations, and unparalleled deep-sea robotics capabilities. We play a leading role in ocean observation and operate the most extensive suite of data-gathering platforms in the world. Top scientists, engineers, and students collaborate on more than 800 concurrent projects worldwide — both above and below the waves — pushing the boundaries of knowledge and possibility. For more information, please visit www.whoi.edu.

About Eastman 

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2023 revenue of approximately $9.2 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.