Tag: 3BL

As sustainability issues take center stage in corporate governance, could your company be at risk of inadvertently misleading investors or consumers? Regulators are increasing the pressure on companies to disclose climate-related risks and opportunities, while many key stakeholders are prioritizing sustainability. This means companies are incentivized to make ESG-related claims to stay competitive. Yet business leaders are increasingly recognizing that operating without considering, disclosing or being asked about their impacts is nearly impossible.

As companies respond to demands for both mandatory and voluntary ESG disclosures, the risk of greenwashing grows. Regulators are stepping in to address false or exaggerated claims that misdirect investment and customer spending. Investors and customers are also initiating litigation to hold companies accountable for greenwashing. The reputational, regulatory and litigation risks of greenwashing are higher today than ever before, posing significant challenges for legal and risk management professionals.

Why evaluate greenwashing risks?

Greenwashing refers to practices that deceive or mislead stakeholders into believing a company’s goods or services are more sustainable than they truly are. It can take many different forms, from intentionally deceptive statements to unintentional omissions, due to a lack of understanding of ESG risks.

Recent studies highlight how prevalent greenwashing has become. For example:

A Hong Kong Monetary Authority study revealed that one-third of corporate green bond issuers globally had worse environmental performance after their initial green bond issuance.An International Consumer Protection Enforcement Network report found that 40% of online green claims could be misleading consumers.A market study conducted by the National University of Singapore Business School and funded by the Competition and Consumer Commission of Singapore concluded 51% of green claims were unsubstantiated.

Regulatory scrutiny on greenwashing is growing across jurisdictions with key recent enforcement actions including:

Australia (2024): In a case filed by the Australian Securities and Investments Commission (ASIC), the Australian Competition and Consumer Commission took action against Clorox Australia Pty Ltd for false claims about recycled ‘ocean plastic’, while the Australian Federal Court fined Mercer Superannuation A$11.3 million for misleading ESG claims. ASIC has also brought a civil action against Vanguard Investments Australia Ltd for incomplete information and inaccurate ESG statements on its ESG exclusionary screens for the Vanguard index fund.Italy (2024): The Italian Competition Authority investigated the Armani and Dior Groups for misleading claims related to ethical labor practices and legal compliance within their supply chain.Singapore (2023): The Advertising Standards Authority of Singapore issued a notice to PRISM+ for unsubstantiated energy efficiency claims regarding air conditioners.UK (2023): Following a Competition Markets Authority investigation into environmental claims in the fashion industry, ASOS, Boohoo and Asda committed to making their claims clearer.Canada (2022): The Canadian Competition Bureau fined Keurig CA$4 million for misleading claims about the recyclability of its single-use plastic coffee pod.

How legal and risk management professionals can help to manage the greenwashing risks

Legal and risk management professionals play a crucial role as gatekeepers for their organizations, tasked with identifying and avoiding current and future legal and regulatory risks. When it comes to greenwashing, their role is to ensure that the company’s ESG claims are accurate, verifiable and well-substantiated. This requires implementing robust ESG due diligence processes and working closely with sustainability teams and external service providers.

Legal and risk management professionals are already responsible for ensuring companies do not engage in misleading statements under securities, misrepresentation, directors’ liabilities, consumer protection and advertising laws. Greenwashing now adds another layer to this responsibility, requiring special attention to environmental and sustainability claims. Key challenges include:

Recognizing when a claim is misleading: Assessing whether claims are based on adequate and accurate information and determining how they will be perceived by investors, consumers and other stakeholders.Ensuring the accuracy of underlying data: Legal teams must ensure that the data supporting ESG claims is reliable and scientifically sound.Monitoring the value chain: Companies must be accountable not only for their own ESG practices but also for those of their suppliers and partners. Legal professionals should work with procurement teams to audit the entire value chain and ensure that third-party practices align with stated sustainability commitments.

Best practices for avoiding greenwashing

Legal and risk management professionals can mitigate greenwashing risks by following these key principles:

1. Make accurate and truthful claims

Recognize all sustainability claims: Any statement suggesting that a product or service has a positive or neutral impact on the environment or local community, or is less damaging than another, constitutes a sustainability claim. This can include the overall impression created by the text and visual elements.Verify claims with scientific evidence: Ensure that every claim is supported by credible data. Claims should present the full picture, including any qualifications. For instance, if a product feature is industry-standard, presenting it as a unique sustainability benefit may be misleading.

2. Explain conditions or qualifications

Disclose caveats prominently: If certain conditions be met for a claim to hold true (e.g., a product is only recyclable in specific facilities), these qualifications should be clearly disclosed alongside the main claim.Ensure verifiable future goals: If a claim is related to future sustainable objectives, ensure the company has a clear, actionable strategy to achieve these goals, along with reasonable grounds for making the claim.

3. Use clear and understandable language.

Simplify complex terms: Assume that the target audience does not have specialized scientific or industry knowledge. Define terms clearly and avoid jargon.Explain scientific language: When using technical terms, explain their implications. This ensures consumers fully understand the claimed environmental or sustainable benefits and limitations.

4. Accountability in the value chain

Close cross-department collaboration: Legal teams, procurement, operations and sustainability teams need to coordinate to ensure ESG compliance throughout the entire value chain.Establish processes for auditing suppliers’ practices: Companies need to consider clauses in contracts that hold suppliers accountable for meeting environmental standards. By embedding sustainability into the supply chain, companies can reduce their exposure to greenwashing risks.Use credible ESG reporting frameworks and standards: Ensure that internationally adopted sustainability reporting frameworks are applied by the organization, such as the GRI Standards, to increase the reliability and comparability of disclosed information.

For legal and risk management professionals, greenwashing presents new challenges but also an opportunity to lead on ESG governance. To mitigate these risks, the first step is to conduct a greenwashing risk assessment within the company, revisiting all ESG claims made across product lines and services. Collaborating closely with sustainability and marketing teams to align claims with the most reliable data, with robust disclosure practices and ongoing monitoring, can prevent potential greenwashing from slipping through the cracks.

ABOUT THE AUTHORS

Elsa Chen is Co-Head of Allen & Gledhill’s ESG & Public Policy Practice and Regional Co-Head of its Competition & Foreign Investment Review Practice. Elsa’s ESG and public policy experience ranges from assisting clients to map out ESG trends and implications, policy drafting, advocacy, and assisting on legislative changes. She also assists clients in navigating greenwashing and ESG due diligence risks, and the antitrust aspects of ESG. Elsa regularly assists clients in complex antitrust and foreign investments review matters in Singapore and beyond, including merger control, global cartel and abuse of dominance investigations.

Allinnettes (Ally) Adigue has led the Global Reporting Initiative (GRI) in the ASEAN region since 2018. Based in Singapore, she oversees the team responsible for engagement and collaboration with Southeast Asian stakeholders and companies to create a conducive environment for sustainable business and sustainability reporting practices. Prior to GRI, Ally worked in both the public and private sectors in Australia, Philippines and Singapore. She has a PhD in Public Policy from the Crawford School of Public Policy (Australian National University). She also holds two Masters: in Development Studies (Erasmus University, The Netherlands); and Public Administration (Lee Kuan Yew School of Public Policy, Singapore).

As sustainability issues take center stage in corporate governance, could your company be at risk of inadvertently misleading investors or consumers? Regulators are increasing the pressure on companies to disclose climate-related risks and opportunities, while many key stakeholders are prioritizing sustainability. This means companies are incentivized to make ESG-related claims to stay competitive. Yet business leaders are increasingly recognizing that operating without considering, disclosing or being asked about their impacts is nearly impossible.

As companies respond to demands for both mandatory and voluntary ESG disclosures, the risk of greenwashing grows. Regulators are stepping in to address false or exaggerated claims that misdirect investment and customer spending. Investors and customers are also initiating litigation to hold companies accountable for greenwashing. The reputational, regulatory and litigation risks of greenwashing are higher today than ever before, posing significant challenges for legal and risk management professionals.

Why evaluate greenwashing risks?

Greenwashing refers to practices that deceive or mislead stakeholders into believing a company’s goods or services are more sustainable than they truly are. It can take many different forms, from intentionally deceptive statements to unintentional omissions, due to a lack of understanding of ESG risks.

Recent studies highlight how prevalent greenwashing has become. For example:

A Hong Kong Monetary Authority study revealed that one-third of corporate green bond issuers globally had worse environmental performance after their initial green bond issuance.An International Consumer Protection Enforcement Network report found that 40% of online green claims could be misleading consumers.A market study conducted by the National University of Singapore Business School and funded by the Competition and Consumer Commission of Singapore concluded 51% of green claims were unsubstantiated.

Regulatory scrutiny on greenwashing is growing across jurisdictions with key recent enforcement actions including:

Australia (2024): In a case filed by the Australian Securities and Investments Commission (ASIC), the Australian Competition and Consumer Commission took action against Clorox Australia Pty Ltd for false claims about recycled ‘ocean plastic’, while the Australian Federal Court fined Mercer Superannuation A$11.3 million for misleading ESG claims. ASIC has also brought a civil action against Vanguard Investments Australia Ltd for incomplete information and inaccurate ESG statements on its ESG exclusionary screens for the Vanguard index fund.Italy (2024): The Italian Competition Authority investigated the Armani and Dior Groups for misleading claims related to ethical labor practices and legal compliance within their supply chain.Singapore (2023): The Advertising Standards Authority of Singapore issued a notice to PRISM+ for unsubstantiated energy efficiency claims regarding air conditioners.UK (2023): Following a Competition Markets Authority investigation into environmental claims in the fashion industry, ASOS, Boohoo and Asda committed to making their claims clearer.Canada (2022): The Canadian Competition Bureau fined Keurig CA$4 million for misleading claims about the recyclability of its single-use plastic coffee pod.

How legal and risk management professionals can help to manage the greenwashing risks

Legal and risk management professionals play a crucial role as gatekeepers for their organizations, tasked with identifying and avoiding current and future legal and regulatory risks. When it comes to greenwashing, their role is to ensure that the company’s ESG claims are accurate, verifiable and well-substantiated. This requires implementing robust ESG due diligence processes and working closely with sustainability teams and external service providers.

Legal and risk management professionals are already responsible for ensuring companies do not engage in misleading statements under securities, misrepresentation, directors’ liabilities, consumer protection and advertising laws. Greenwashing now adds another layer to this responsibility, requiring special attention to environmental and sustainability claims. Key challenges include:

Recognizing when a claim is misleading: Assessing whether claims are based on adequate and accurate information and determining how they will be perceived by investors, consumers and other stakeholders.Ensuring the accuracy of underlying data: Legal teams must ensure that the data supporting ESG claims is reliable and scientifically sound.Monitoring the value chain: Companies must be accountable not only for their own ESG practices but also for those of their suppliers and partners. Legal professionals should work with procurement teams to audit the entire value chain and ensure that third-party practices align with stated sustainability commitments.

Best practices for avoiding greenwashing

Legal and risk management professionals can mitigate greenwashing risks by following these key principles:

1. Make accurate and truthful claims

Recognize all sustainability claims: Any statement suggesting that a product or service has a positive or neutral impact on the environment or local community, or is less damaging than another, constitutes a sustainability claim. This can include the overall impression created by the text and visual elements.Verify claims with scientific evidence: Ensure that every claim is supported by credible data. Claims should present the full picture, including any qualifications. For instance, if a product feature is industry-standard, presenting it as a unique sustainability benefit may be misleading.

2. Explain conditions or qualifications

Disclose caveats prominently: If certain conditions be met for a claim to hold true (e.g., a product is only recyclable in specific facilities), these qualifications should be clearly disclosed alongside the main claim.Ensure verifiable future goals: If a claim is related to future sustainable objectives, ensure the company has a clear, actionable strategy to achieve these goals, along with reasonable grounds for making the claim.

3. Use clear and understandable language.

Simplify complex terms: Assume that the target audience does not have specialized scientific or industry knowledge. Define terms clearly and avoid jargon.Explain scientific language: When using technical terms, explain their implications. This ensures consumers fully understand the claimed environmental or sustainable benefits and limitations.

4. Accountability in the value chain

Close cross-department collaboration: Legal teams, procurement, operations and sustainability teams need to coordinate to ensure ESG compliance throughout the entire value chain.Establish processes for auditing suppliers’ practices: Companies need to consider clauses in contracts that hold suppliers accountable for meeting environmental standards. By embedding sustainability into the supply chain, companies can reduce their exposure to greenwashing risks.Use credible ESG reporting frameworks and standards: Ensure that internationally adopted sustainability reporting frameworks are applied by the organization, such as the GRI Standards, to increase the reliability and comparability of disclosed information.

For legal and risk management professionals, greenwashing presents new challenges but also an opportunity to lead on ESG governance. To mitigate these risks, the first step is to conduct a greenwashing risk assessment within the company, revisiting all ESG claims made across product lines and services. Collaborating closely with sustainability and marketing teams to align claims with the most reliable data, with robust disclosure practices and ongoing monitoring, can prevent potential greenwashing from slipping through the cracks.

ABOUT THE AUTHORS

Elsa Chen is Co-Head of Allen & Gledhill’s ESG & Public Policy Practice and Regional Co-Head of its Competition & Foreign Investment Review Practice. Elsa’s ESG and public policy experience ranges from assisting clients to map out ESG trends and implications, policy drafting, advocacy, and assisting on legislative changes. She also assists clients in navigating greenwashing and ESG due diligence risks, and the antitrust aspects of ESG. Elsa regularly assists clients in complex antitrust and foreign investments review matters in Singapore and beyond, including merger control, global cartel and abuse of dominance investigations.

Allinnettes (Ally) Adigue has led the Global Reporting Initiative (GRI) in the ASEAN region since 2018. Based in Singapore, she oversees the team responsible for engagement and collaboration with Southeast Asian stakeholders and companies to create a conducive environment for sustainable business and sustainability reporting practices. Prior to GRI, Ally worked in both the public and private sectors in Australia, Philippines and Singapore. She has a PhD in Public Policy from the Crawford School of Public Policy (Australian National University). She also holds two Masters: in Development Studies (Erasmus University, The Netherlands); and Public Administration (Lee Kuan Yew School of Public Policy, Singapore).

HOUSTON, November 18, 2024 /3BL/ – The Baker Hughes Foundation announced Monday a total of $750,000 in grants to nonprofit organizations (NPOs) that promote our values and support local communities. For the fourth consecutive year — and in support of the Baker Hughes Foundation’s mission to advance environmental quality, education and opportunity, and health, safety and wellness around the world — the recipient NPO’s were nominated by Baker Hughes global employee resource groups (ERGs). The grants also support Baker Hughes’ commitment to advancing the United Nation’s Sustainable Development Goals (SDGs).

At Baker Hughes, we believe unique ideas and perspectives fuel innovation, and our differences make us stronger. Baker Hughes’ ERGs offer all employees personal support, professional development, and a sense of belonging. Our eight ERGs, comprised of over 9,000 members, fuel our culture and support our strategic goals and are pivotal in driving employee engagement and volunteerism in our global communities. These groups have built strong partnerships with many nonprofits across the globe to drive social change for some of the world’s toughest challenges, including equality, education and well-being.

Collectively, these grants will support an array of causes across North America, South America, Asia-Pacific, Middle East, United Kingdom and Sub-Saharan Africa. Below are the charities awarded grants to drive impact in their communities:

The Asian Pacific American Forum nominated Teach for Malaysia to support children in Malaysia, regardless of background, obtaining a quality education and Vita Living to provide in-community services and support for children and adults with intellectual and developmental disabilities.The Black Employee Network nominated Care Hub Foundation to support promoting equal opportunities and inspire hope in families through education, leadership development, empowerment, and psychosocial support programs, and Suits for Sons, Inc., which helps collegiate men prepare for professional careers, entrepreneurship, and community activism by providing resources, training, and access to mentors.The Enabled ERG nominated Spastic Paraplegia Foundation to support funding medical research in search of cures to Hereditary Spastic Paraplegia and Primary Lateral Sclerosis (rare, progressive, neurological diseases similar to Lou Gehrig’s), and The National Autism Society of Malaysia to provide a range of support services for individuals with autism spectrum disorder (ASD), especially children and their immediate family members.The LatinX ERG nominated the Houston Food Bank, which distributes food and other essentials and helps families achieve long-term stability through nutrition education and health management.The Multicultural ERG nominated Etijah to support building the social, political and economic infrastructure of Egypt and ISCO Foundation to support providing comprehensive educational and developmental assistance to children across Indonesia.The Pride@Work ERG nominated Asociación Civil Impacto Digital to support social innovation in inclusive employment practices for trans and nonbinary (TNB) individuals and Four Pillars to support LGBTQ+ community rights, equality and inclusion.The Women’s Network nominated Girls Inc. of Greater Houston to increase opportunities and rights for all girls and Strategic Advocacy for Human Rights to support providing resources for women and under-represented leaders who are shaping sexual and gender-based violence laws and policies.The Veterans ERG nominated Children of Fallen Patriots Foundation to provide college scholarships and educational counseling to military children who have lost a parent in the line of duty in the U.S. and Help for Heroes to support veterans and their families after service in the U.K.

“At Baker Hughes, we are committed to shaping the future of the energy industry, and that future belongs to all of us. Through our employee resource groups, employees have come together based on personal characteristics, life experiences and characteristics to shed light on the diverse needs throughout our communities,” said Chief People & Culture Officer Muzzamil Khider. “I am proud of Baker Hughes’ commitment to fostering a diverse, equitable and inclusive organization and the continued support toward community partnerships.”

To learn more about Baker Hughes’ work in supporting its communities, visit our Corporate Responsibility website.

About the Baker Hughes Foundation:

For 30 years, the Baker Hughes Foundation has been a steward of charitable resources for meaningful community impact. The Foundation seeks to advance environmental quality, education, health, safety, and wellness around the world by supporting organizations with shared values, demonstrated leadership, evidence of impact, financial soundness, and the capacity to implement initiatives and evaluate their success. The Baker Hughes Foundation makes strategic philanthropic contributions, matches Baker Hughes employee contributions, and awards volunteer recognition grants for outstanding employee community service.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations

Adrienne M. Lynch 
+1 713-906-8407 
adrienne.lynch@bakerhughes.com

November 15, 2024 /3BL/ – Ceres applauds the final passage of two important bills that will bolster Massachusetts’ role as a climate and clean energy leader while supporting the state economy. The Massachusetts omnibus climate bill includes essential reforms to state permitting and siting procedures to responsibly accelerate the buildout of clean energy infrastructure while boosting investment into clean power, transportation, and buildings. Separately, the Commonwealth’s new economic development bond bill includes a significant investment over the next decade to foster the emerging cleantech industry.

“Massachusetts boasts a powerful combination of private sector ingenuity, a highly capable workforce, and supportive public policy, laying the groundwork for the Commonwealth to become a national hub for clean energy,” said Rishi Reddi, senior advisor for Northeast state policy at Ceres. “Ceres and the businesses we work with are grateful that lawmakers were able to work together to pass the economic development and climate omnibus bills, which build on the Commonwealth’s strong foundation to lead the nation in clean energy and climate action. With the governor’s signature, these two pieces of legislation will position Massachusetts to build a new landmark industry and fully capitalize on the nationwide clean energy boom by building and deploying the crucial technologies that will support our economy and protect our climate.”

Ceres has helped organize business support for both bills throughout 2024. In July, Ceres joined an effort led by the Environmental League of Massachusetts to convene 28 leading businesses and institutions to call for passage of the climate omnibus bill in a letter to lawmakers. In the letter, companies including Akamai Technologies, Amalgamated Bank, Eastern Bank, Form Energy, Trillium Asset Management, and VHB joined institutions such as Boston Children’s Hospital, Boston Medical Center, the Museum of Science, and UMass Lowell to urge legislators to pass the law and “enable communities across the Commonwealth to take action to meet our statutory clean energy and emission-reduction goals for 2025 and 2030.”

Ceres joined another ELM-led effort in May to organize a letter in support of the cleantech investments in the economic development bill. More than 81 signatories — including Associated Industries of Massachusetts, Autodesk, Berkshire Bank, Clean Energy Ventures, DSM, Encore Boston Harbor, Lyft, REI Co-op, Schneder Electric, Siemens, and Uber — supported that investment to “signify to companies, venture capitalists, and innovators that Massachusetts is the place to be for climate tech.”

And in September, Ceres CEO Mindy Lubber published an op-ed on WBUR’s Cognoscenti website, calling on lawmakers to hold a special legislative session to pass both the climate bill and the economic development bill’s clean tech investment after both had stalled out at the end of the formal session in July. The two bills, she wrote, would allow Massachusetts to harness “strong economic tailwinds that the high-tech and life science sectors delivered the state in previous generations.”

About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.

Media Contact: Helen Booth-Tobin, booth-tobin@ceres.org

November 15, 2024 /3BL/ – Ceres applauds the final passage of two important bills that will bolster Massachusetts’ role as a climate and clean energy leader while supporting the state economy. The Massachusetts omnibus climate bill includes essential reforms to state permitting and siting procedures to responsibly accelerate the buildout of clean energy infrastructure while boosting investment into clean power, transportation, and buildings. Separately, the Commonwealth’s new economic development bond bill includes a significant investment over the next decade to foster the emerging cleantech industry.

“Massachusetts boasts a powerful combination of private sector ingenuity, a highly capable workforce, and supportive public policy, laying the groundwork for the Commonwealth to become a national hub for clean energy,” said Rishi Reddi, senior advisor for Northeast state policy at Ceres. “Ceres and the businesses we work with are grateful that lawmakers were able to work together to pass the economic development and climate omnibus bills, which build on the Commonwealth’s strong foundation to lead the nation in clean energy and climate action. With the governor’s signature, these two pieces of legislation will position Massachusetts to build a new landmark industry and fully capitalize on the nationwide clean energy boom by building and deploying the crucial technologies that will support our economy and protect our climate.”

Ceres has helped organize business support for both bills throughout 2024. In July, Ceres joined an effort led by the Environmental League of Massachusetts to convene 28 leading businesses and institutions to call for passage of the climate omnibus bill in a letter to lawmakers. In the letter, companies including Akamai Technologies, Amalgamated Bank, Eastern Bank, Form Energy, Trillium Asset Management, and VHB joined institutions such as Boston Children’s Hospital, Boston Medical Center, the Museum of Science, and UMass Lowell to urge legislators to pass the law and “enable communities across the Commonwealth to take action to meet our statutory clean energy and emission-reduction goals for 2025 and 2030.”

Ceres joined another ELM-led effort in May to organize a letter in support of the cleantech investments in the economic development bill. More than 81 signatories — including Associated Industries of Massachusetts, Autodesk, Berkshire Bank, Clean Energy Ventures, DSM, Encore Boston Harbor, Lyft, REI Co-op, Schneder Electric, Siemens, and Uber — supported that investment to “signify to companies, venture capitalists, and innovators that Massachusetts is the place to be for climate tech.”

And in September, Ceres CEO Mindy Lubber published an op-ed on WBUR’s Cognoscenti website, calling on lawmakers to hold a special legislative session to pass both the climate bill and the economic development bill’s clean tech investment after both had stalled out at the end of the formal session in July. The two bills, she wrote, would allow Massachusetts to harness “strong economic tailwinds that the high-tech and life science sectors delivered the state in previous generations.”

About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.

Media Contact: Helen Booth-Tobin, booth-tobin@ceres.org

Originally published in Northern Trust 2023 Sustainability Report

Northern Trust is actively reducing our operational carbon footprint.

We have set a target to reduce GHG emissions across Scope 127, 228 and partial Scope 329 by 50 percent by 2030 (using a 2019 baseline), and to achieve Net Zero carbon emissions from operations by 205030.

This includes all Scope 1 emissions from sources controlled by Northern Trust and all Scope 2 emissions. For Scope 3 emissions, the reporting is currently limited to our business operations for purchased goods and services, fuel and energy, waste generated from operations, business travel and employee commuting. To reduce carbon emissions in line with our plan to commit to the Science Based Targets Initiative’s31 Sectoral Decarbonization Approach32, we complete a range of energy efficiency projects33 each year to reduce our energy consumption.

In 2023, we completed four LED lighting projects, of which three are in EMEA and one is in the U.S., which have saved approximately 60 tons of carbon. As a result, we have lowered energy consumption per full-time employee (FTE) by 27 percent and have estimated to have reduced our absolute emissions by 3.4 percent versus our 2019 baseline34.

In addition, we will continue to support the development of carbon removal technologies by partnering with organizations such as Climate Vault. These help leverage the value of the carbon allowances to fund an equivalent or greater amount of carbon removals from new carbon dioxide removal (CDR) technologies through a bi-annual grant process35.

We are in the process of implementing Environmental and Energy Management Systems36 (EMS) in key locations to help drive continual improvement in operational performance. Each property has set an annual energy reduction target to achieve through low- or no-cost operational initiatives.

Despite an increased return to the office across the Corporation, business travel remains below pre-pandemic levels. We have also seen a reduction of emissions from working from home in 2023, compared to the pandemic years.37 Additionally, we are removing single-use plastics from our offices, completing audits across our global portfolio and systematically eliminating plastics. We are reducing waste from our operations and increasing recycling rates across the business.

Read the full report here

27 Scope 1 represents direct GHG emissions that occur from sources that are owned or controlled by the Corporation.

28 Scope 2 accounts for GHG emissions from the generation of purchased electricity consumed by the Corporation.

29 Scope 3 generally includes certain indirect GHG emissions (not included in Scope 2) that occur in the value chain of the Corporation, including both upstream and downstream emissions. Upstream emissions are indirect GHG emissions related to purchased or acquired goods and services while downstream emissions are indirect GHG emissions related to sold goods and services.

30 For more information please refer to our most recent GHG statement.

31 The Science Based Targets initiative (SBTi) is a corporate climate action organization that supports companies at an international level to actively contribute toward tackling the climate crisis.

32 The Sectoral Decarbonization Approach (SDA) used by the SBTi involves setting sector-specific emission reduction targets aligned with the goals of the Paris Agreement, a legally binding international treaty on climate change.

33 Some examples of our energy efficiency projects include light-emitting diode (LED) lighting schemes, heating, ventilation, and air conditioning (HVAC) control upgrades, electric vehicles (EV) charging stations, lighting monitor control and pipework insulation.

34 The estimated GHG absolute emissions reduction percentage presented in this report should be considered preliminary. Final data with respect to 2023 GHG absolute emissions can be found in Northern Trust’s 2023 GHG statement when such statement is published on Northern Trust’s corporate website.

35 Given the ambiguity related to the term, as well as to the risk of making carbon neutrality claims, we will no longer refer to these endeavors as “carbon neutrality.”

36 An energy management system can monitor and optimize energy usage, costs and environmental impact. It can provide valuable data and insights that can inform the decision-making process in particular when taking Net Zero targets into consideration.

37 For more information on our GHG emissions, please refer to our most recent GHG statement: https://cdn.northerntrust.com/pws/nt/documents/ about-us/ghg-statement.pdf

November 15, 2024 /3BL/ – Messina Touring Groups’ founder Louis Messina, partner of AEG Presents, received Billboard’s prestigious Touring Titan Award and was recognized as Executive of the Year at the Billboard Live Music Summit and Awards in Los Angeles, CA on November 14, 2024. Messina was honored for his work producing Taylor Swift’s record-breaking Eras Tour, as well as tours for Eric Church, George Strait, Kenny Chesney and many more top grossing artists.

As the founder and CEO of MTG, which operates as a leading promoter of live events, Messina has orchestrated some of the biggest and most successful tours in the modern era. Known for his ability to bring major artists to new heights, he has played a crucial role in the success of numerous high-profile tours.

Following the award presentation, Messina participated on stage in a Power Players Conversation with Melinda Newman, Billboard’s executive editor for the West Coast and Nashville. Together, they discussed Messina’s remarkable career, covering his time with Pace Concerts, his work with artists like Tim McGraw, Ed Sheeran and Shawn Mendes, as well as his plans to build the next generation of touring superstars.

The Billboard Live Music Awards, which honors touring acts as well as some of the visionary executives behind them, are based on several criteria ranging from revenue to tour demand, production, technical ambition, fan engagement, momentum and cultural impact.

Warehouse Supervisor Adan Alencastro found the tools he needed to grow his career with CertainTeed in Palatka, Florida, all while finishing his education. Find your place At Saint-Gobain North America

Saint-Gobain is an industry leader with thousands of talented team members who are dedicated to one unified purpose: Making the World a Better Home. With more than 145 manufacturing facilities throughout the United States and Canada, there are so many robust and fulfilling career opportunities available. You’ll have the opportunity to work with colleagues from a wide range of businesses, cultures, and experiences.

Discover your career at Saint-Gobain North America here

Watch the Saint-Gobain video series Success in the Making 

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.

€47.9 billion in sales in 2023 
160,000 employees, locations in 76 countries 
Committed to achieving net zero carbon emissions by 2050

Originally published on Principal.com

Principal® employees tend to flex their skills and hop around the company. It isn’t unusual for someone to work in several different roles and parts of the business throughout their career.

It’s—in part—because leaders like Jackie know the value of development opportunities firsthand.

See how she’s paying it forward for her own team members.

How did you get into IT at Principal, and what’s your role today?

I actually didn’t start out in IT.

I’d been working in a business role in our former health division for a few years. At the time, I was getting my MBA and was looking to apply more of my business knowledge and get deeper into problem solving and solution creation.

I moved into a variety of different leadership roles—taking on more responsibilities and bigger teams. And I’ve been in my current role, director of engineering, for about five years. I lead technology teams who support functions like worksite safety and security, global risk, law, and government relations. When an employee scans their badge to enter a building, that’s safety and security technology, for example.

What excites you about the work?

The power of technology in problem solving: How do we make things better? Sometimes it’s offering a new system; sometimes it’s making improvements to a manual process.

The better we can serve our employees and the easier it is for them to find what they need, the better their experience is and the more time they have to support our customers.

How else have you gotten involved at Principal?

I’ve been fortunate to have a lot of job opportunities, but I’ve also experienced great networking and growth through Principal groups and forums. I’m involved in several employee resource groups (ERGs), and I’m currently the co-chair for our LGBTQ ERG. I also support our Global Giving Campaign, which drives positive change in the communities where we live and work.

How have you helped support other women in tech at Principal?

I’m very focused on leadership. I spend a lot of time thinking about development opportunities, inclusion, and how everyone’s being supported.

I think it’s part of my responsibility as a woman in leadership to help bring others along. So, I mentor formally and informally on leadership skills, work-life balance, career development, and daily challenges.

Being a working woman and a mother, I feel like I can mentor and coach with empathy. Sometimes it’s just taking time to ask, Why do you think you’re stuck on that? How do you think you can work through it?

Other times, the best thing I can do for someone is help connect them with an ERG, a different mentoring relationship, or someone who can tell them about a particular area of the business.

And how have you been supported?

I’ve never felt like because I’m a woman, my voice wasn’t heard or I couldn’t speak up. I’ve never felt less than. I think it comes down to the culture at Principal.

We’re focused on diversity, equity, and inclusion through and through. I see it in my leadership chain and know the executive management group champions it, too. Everyone has a voice.

Also—on a more pragmatic level—we invest a lot in development opportunities. Not only for technical skills, but also competencies like influence, approach, and leadership.

What’s your advice for someone looking to break into tech?

Being curious in technology is critical. Find something you care about and invest in yourself through continuous learning. I’m so impressed by how much our interns and young professionals have read and the questions they’re thinking about.

I also think developing competencies is important: understanding how you work through conflict, how you speak up if you’re unsure about something, how you communicate effectively, all those things.

Make sure you’re honing both of those important skillsets.

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In this latest blog Cascale’s Editorial Director, Kaley Roshitsh provides insight how Cascale and the Social & Labor Convergence Program’s (SLCP) collaboration is advancing decent work. Roshitsh shares how SLCP and Cascale are taking action with tools like the Higg Facility Social & Labor Module (FSLM) and the Convergence Assessment Framework (CAF), helping global supply chain actors prioritize social compliance and labor standards so that they are continuously adapting to new frameworks and legal requirements.

Read the full blog here.