Tag: 3BL

by Keoni Lee, Hawaii Investment Ready (HIR)

Founded in 2013 as the first social enterprise accelerator in Hawaii and the first Native-led accelerator in the U.S., HIR has been at the forefront of place-based and culturally-grounded investment strategies in Hawaii. Since then, HIR has evolved into a field-building impact intermediary with a mission to accelerate Hawai’i’s economic transformation. Our holistic suite of strategies includes capacity building, network facilitation, capital deployment and navigation, research, and narrative shifting. These pillars work together to seed deeper relationships, trust and collaboration.

In 2021, we re-envisioned our core program as the Hawaii Food Systems Accelerator to deepen investment in food and move the needle by focusing on one sector. The enterprise cohort prioritizes frontline, rural and Native Hawaiian social entrepreneurs addressing key leverage points identified in a 2020 Transforming Hawaii’s Food Systems Together mapping project. The complementary funder cohort comprises 24 active food systems funders and investors across philanthropy, government and private capital. These networks are invaluable for activating and piloting innovative strategies and frameworks. By convening these diverse stakeholders, we increase our collective capacity to catalyze meaningful progress.

Earlier this year, HIR also partnered with Mission Driven Finance to launch Hawaii’s first catalytic capital debt fund designed to fill funding gaps and better leverage philanthropic resources. By fostering collaboration and pooling resources, we enable high-leverage solutions that address our food systems’ unique challenges. Emerging communities of practice in systems change investing and bioregional financing are gaining traction, with HIR at the forefront of this movement.

Read Keoni’s full article here – https://greenmoney.com/investing-in-a-different-kind-of-paradise-catalyzing-hawaiis-sustainable-food-system/

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by Keoni Lee, Hawaii Investment Ready (HIR)

Founded in 2013 as the first social enterprise accelerator in Hawaii and the first Native-led accelerator in the U.S., HIR has been at the forefront of place-based and culturally-grounded investment strategies in Hawaii. Since then, HIR has evolved into a field-building impact intermediary with a mission to accelerate Hawai’i’s economic transformation. Our holistic suite of strategies includes capacity building, network facilitation, capital deployment and navigation, research, and narrative shifting. These pillars work together to seed deeper relationships, trust and collaboration.

In 2021, we re-envisioned our core program as the Hawaii Food Systems Accelerator to deepen investment in food and move the needle by focusing on one sector. The enterprise cohort prioritizes frontline, rural and Native Hawaiian social entrepreneurs addressing key leverage points identified in a 2020 Transforming Hawaii’s Food Systems Together mapping project. The complementary funder cohort comprises 24 active food systems funders and investors across philanthropy, government and private capital. These networks are invaluable for activating and piloting innovative strategies and frameworks. By convening these diverse stakeholders, we increase our collective capacity to catalyze meaningful progress.

Earlier this year, HIR also partnered with Mission Driven Finance to launch Hawaii’s first catalytic capital debt fund designed to fill funding gaps and better leverage philanthropic resources. By fostering collaboration and pooling resources, we enable high-leverage solutions that address our food systems’ unique challenges. Emerging communities of practice in systems change investing and bioregional financing are gaining traction, with HIR at the forefront of this movement.

Read Keoni’s full article here – https://greenmoney.com/investing-in-a-different-kind-of-paradise-catalyzing-hawaiis-sustainable-food-system/

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November 20, 2024 /3BL/ – Medtronic plc, a global leader in healthcare technology, has today released its fiscal year 2024 (FY24) Impact Report. The report highlights the company’s continued commitment to advancing health equity, increasing representation and inclusion, and reducing its environmental footprint. One of the highlights in this year’s report is the early success of the Healthy Neighbor program, a transformative initiative addressing health inequities in chronic disease care.

Established in collaboration with Virtua Health, a 15,000-person academic health system, Healthy Neighbor extends access to integrated clinical and social care for hypertension and diabetes management within Camden, New Jersey. Launched in 2023, Healthy Neighbor trained a team of dedicated community health workers and a registered nurse to provide tailored support, combining SPICE, the Medtronic LABS open-source digital health platform, with social resource navigation.

Early results1 show that 71% of enrolled patients with high blood pressure and 63% of patients with previously uncontrolled diabetes achieved meaningful progress in blood pressure and blood glucose control.

“We are incredibly proud of the Healthy Neighbor program,” said Geoff Martha, Medtronic chairman and CEO. “Our partnership with Virtua Health underscores our belief that to drive true impact, healthcare must be accessible, localized, and powered by technology and partnerships. We aim to develop a replicable model for community-based care that can improve outcomes for millions across the world.”

The Medtronic 2024 Impact Report reveals broader commitments to patients, people, and planet. Key FY24 accomplishments include: 

Patients – Putting patients first: 

Medtronic places patient centricity at the forefront of its Mission through clinical research and targeted programs. In FY24, the company:

Shared data from the 87% women-enrolled global SMART Trial, led by Dr. Roxana Mehran and Dr. Howard Herrmann. Women are commonly under-represented in clinical trials. This trial addresses gender disparities in heart disease detection and treatment, setting a new standard for inclusive healthcare research.Achieved a 33% reduction in product complaint rate for key product families. Complaint rates are an important indicator of patient experience and product quality. The company exceeded its 10% reduction target in aggregate product complaints by FY25 for key product families.Invested $2.7 billion in research and development directed toward pioneering medical innovations for millions globally.Supported over 550,000 healthcare professionals with over $121 million invested in medical education, participation in Medtronic Academy, in-person events at training centers, and Medtronic Mobile Labs.Improved healthcare access for more than 78 million patients through increased access initiatives, putting the company on track to reach its target of 79 million patients annually by FY25.Flowed 20.7% of revenue from products and therapies released in the prior 36 months (vitality index), exceeding its goal of 20% by FY25. 

People – Striving for zero barriers: 

Medtronic strives for zero barriers to health, opportunity, and well-being for its employees and the communities it serves. In FY24, the company:

Visited Alabama A&M University, a historically Black college, with the Medtronic Mobile Lab, offering students hands-on experience with cutting-edge technology and supporting diversity in science and engineering.Reached 51% women in Medtronic’s global workforce, and 41% U.S. employees from diverse backgrounds. The company is on track to achieve 45% women in manager-and-above roles globally (currently at 44%) and 30% representation of ethnically diverse groups in manager-and-above roles in the U.S. (currently at 28%) by FY26.Drove positive health outcomes for populations outside of the reach of its product portfolio by impacting 166,400 lives through Medtronic LABS. 

Planet – Reducing impact for a healthier planet: 

Medtronic is committed to reducing its environmental impact through science-based targets, focusing on emissions reduction and sustainable practices. In FY24, the company:

Secured energy expected to meet 50% of its electricity needs across its five Irish sites, reinforcing Medtronic’s commitment to a healthier planet through a recent Power Purchase Agreement.2Achieved a 52% reduction in emissions intensity compared to FY20, surpassing its FY25 target of a 50% reduction in greenhouse gas (GHG) emissions intensity.Met 42% of operational energy needs with renewables and are on track to achieve its target of sourcing 50% of energy from renewable and alternative sources by FY25.Reduced operational waste by 19% and water use intensity by 28% since FY20. The company is also 90% of the way to achieving its goal to reduce packaging waste by 25% for four targeted, high-volume product families compared to FY21.

The Medtronic 2024 Impact Report reflects the company’s key environmental, social, and governance (ESG) topics in alignment with leading reporting frameworks and standards, including the Global Sustainability Standards Board’s (GSSB) Global Reporting Initiative (GRI); the International Sustainability Standards Board’s (ISSB) Sustainability Accounting Standards Board (SASB) Standards; the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD); and the World Economic Forum’s (WEF) Stakeholder Capitalism Metrics.

View the full report here.

About Medtronic 

Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit www.Medtronic.com and follow on LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. 

Contacts: 

Erika Winkels 
Public Relations 
+1-763-526-8478

Ryan Weispfenning 
Investor Relations 
+1-763-505-4626

Editor notes

1. Outcomes are within a cohort of patients enrolled in Healthy Neighbor between August 1, 2023, and August 26, 2024, who had both a baseline and follow-up reading. A significant improvement in blood pressure is defined as achieving blood pressure control (< 140/90 mmHg) or systolic blood pressure reduction ≥ 10 mmHg; meaningful progress in blood glucose control is defined as achieving HbA1c control (< 8.0%) or a reduction in A1C ≥ .5%.

2. FY45 Decarbonization Roadmap: Recognizing the risks that climate change poses to human health and long-term global financial stability, Medtronic has set an ambition to achieve net-zero emissions across Scope 1, 2, and 3 by FY45. To achieve our ambition, we will pursue setting targets through the Science-Based Targets initiative (SBTi), a multiyear process which provides companies with a clearly defined path to reduce GHG emissions in line with the Paris Agreement. Signed by 191 countries, plus the European Union, the Paris Agreement aspires to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels.

November 20, 2024 /3BL/ – Medtronic plc, a global leader in healthcare technology, has today released its fiscal year 2024 (FY24) Impact Report. The report highlights the company’s continued commitment to advancing health equity, increasing representation and inclusion, and reducing its environmental footprint. One of the highlights in this year’s report is the early success of the Healthy Neighbor program, a transformative initiative addressing health inequities in chronic disease care.

Established in collaboration with Virtua Health, a 15,000-person academic health system, Healthy Neighbor extends access to integrated clinical and social care for hypertension and diabetes management within Camden, New Jersey. Launched in 2023, Healthy Neighbor trained a team of dedicated community health workers and a registered nurse to provide tailored support, combining SPICE, the Medtronic LABS open-source digital health platform, with social resource navigation.

Early results1 show that 71% of enrolled patients with high blood pressure and 63% of patients with previously uncontrolled diabetes achieved meaningful progress in blood pressure and blood glucose control.

“We are incredibly proud of the Healthy Neighbor program,” said Geoff Martha, Medtronic chairman and CEO. “Our partnership with Virtua Health underscores our belief that to drive true impact, healthcare must be accessible, localized, and powered by technology and partnerships. We aim to develop a replicable model for community-based care that can improve outcomes for millions across the world.”

The Medtronic 2024 Impact Report reveals broader commitments to patients, people, and planet. Key FY24 accomplishments include: 

Patients – Putting patients first: 

Medtronic places patient centricity at the forefront of its Mission through clinical research and targeted programs. In FY24, the company:

Shared data from the 87% women-enrolled global SMART Trial, led by Dr. Roxana Mehran and Dr. Howard Herrmann. Women are commonly under-represented in clinical trials. This trial addresses gender disparities in heart disease detection and treatment, setting a new standard for inclusive healthcare research.Achieved a 33% reduction in product complaint rate for key product families. Complaint rates are an important indicator of patient experience and product quality. The company exceeded its 10% reduction target in aggregate product complaints by FY25 for key product families.Invested $2.7 billion in research and development directed toward pioneering medical innovations for millions globally.Supported over 550,000 healthcare professionals with over $121 million invested in medical education, participation in Medtronic Academy, in-person events at training centers, and Medtronic Mobile Labs.Improved healthcare access for more than 78 million patients through increased access initiatives, putting the company on track to reach its target of 79 million patients annually by FY25.Flowed 20.7% of revenue from products and therapies released in the prior 36 months (vitality index), exceeding its goal of 20% by FY25. 

People – Striving for zero barriers: 

Medtronic strives for zero barriers to health, opportunity, and well-being for its employees and the communities it serves. In FY24, the company:

Visited Alabama A&M University, a historically Black college, with the Medtronic Mobile Lab, offering students hands-on experience with cutting-edge technology and supporting diversity in science and engineering.Reached 51% women in Medtronic’s global workforce, and 41% U.S. employees from diverse backgrounds. The company is on track to achieve 45% women in manager-and-above roles globally (currently at 44%) and 30% representation of ethnically diverse groups in manager-and-above roles in the U.S. (currently at 28%) by FY26.Drove positive health outcomes for populations outside of the reach of its product portfolio by impacting 166,400 lives through Medtronic LABS. 

Planet – Reducing impact for a healthier planet: 

Medtronic is committed to reducing its environmental impact through science-based targets, focusing on emissions reduction and sustainable practices. In FY24, the company:

Secured energy expected to meet 50% of its electricity needs across its five Irish sites, reinforcing Medtronic’s commitment to a healthier planet through a recent Power Purchase Agreement.2Achieved a 52% reduction in emissions intensity compared to FY20, surpassing its FY25 target of a 50% reduction in greenhouse gas (GHG) emissions intensity.Met 42% of operational energy needs with renewables and are on track to achieve its target of sourcing 50% of energy from renewable and alternative sources by FY25.Reduced operational waste by 19% and water use intensity by 28% since FY20. The company is also 90% of the way to achieving its goal to reduce packaging waste by 25% for four targeted, high-volume product families compared to FY21.

The Medtronic 2024 Impact Report reflects the company’s key environmental, social, and governance (ESG) topics in alignment with leading reporting frameworks and standards, including the Global Sustainability Standards Board’s (GSSB) Global Reporting Initiative (GRI); the International Sustainability Standards Board’s (ISSB) Sustainability Accounting Standards Board (SASB) Standards; the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD); and the World Economic Forum’s (WEF) Stakeholder Capitalism Metrics.

View the full report here.

About Medtronic 

Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit www.Medtronic.com and follow on LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. 

Contacts: 

Erika Winkels 
Public Relations 
+1-763-526-8478

Ryan Weispfenning 
Investor Relations 
+1-763-505-4626

Editor notes

1. Outcomes are within a cohort of patients enrolled in Healthy Neighbor between August 1, 2023, and August 26, 2024, who had both a baseline and follow-up reading. A significant improvement in blood pressure is defined as achieving blood pressure control (< 140/90 mmHg) or systolic blood pressure reduction ≥ 10 mmHg; meaningful progress in blood glucose control is defined as achieving HbA1c control (< 8.0%) or a reduction in A1C ≥ .5%.

2. FY45 Decarbonization Roadmap: Recognizing the risks that climate change poses to human health and long-term global financial stability, Medtronic has set an ambition to achieve net-zero emissions across Scope 1, 2, and 3 by FY45. To achieve our ambition, we will pursue setting targets through the Science-Based Targets initiative (SBTi), a multiyear process which provides companies with a clearly defined path to reduce GHG emissions in line with the Paris Agreement. Signed by 191 countries, plus the European Union, the Paris Agreement aspires to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels.

By Izabela Jasinska, Immersion Cooling Growth Venture Leader

The profound impact of technology visionaries like Steve Jobs and Bill Gates is undeniable. From multifunctional smartphones to user-friendly personal computers, their breakthroughs have transformed our relationship with technology, making it indispensable in our daily lives.

Data centers are the backbone of that technology and power everything from AI to life-saving medical equipment. Data center demand is on the rise, but that also comes with a new set of challenges and opportunities for innovation:

In 2022, data centers consumed 460 TWh of electricity, matching Japan’s energy use.They account for 1% of global energy-related carbon emissions.Energy consumption is expected to double by 2026.Daily, data centers consume 300,000 gallons of water.They cover millions of square feet of land.

At this year’s Supercomputing Conference (SC24), our team is hearing these same challenges echoed across stakeholders. Thankfully we have a solution to share – Opteon™ 2P50 developmental fluid for two-phase immersion cooling (2-PIC) can help solve the data center energy and water crisis, making sustainability a reality. This innovation can:

Reduce cooling energy consumption by up to 90% and overall energy use by 40%.Nearly eliminate water use.Shrink the physical space required by 60%.Low global warming potential (GWP) of 10Enhance circularity, since fluid can be recovered, reprocessed and reused in perpetuity.

To pressure test those stats, we recently completed a study with LiquidStack and Syska Hennessy to compare performance across climates and technologies. The study confirmed that Opteon™ 2P50 can significantly reduce the energy use, total cost of ownership, and operational expenses by up to 88.6% compared to other liquid cooling techniques.

We’re eager to bring this revolutionary solution to the data center market, but to do so, we need the partnership and support of the value chain. If you’re interested in learning about Opteon™ 2P50, download the case study or contact us with your questions. My team and I would love to engage and discuss more.

View original content here.

By Izabela Jasinska, Immersion Cooling Growth Venture Leader

The profound impact of technology visionaries like Steve Jobs and Bill Gates is undeniable. From multifunctional smartphones to user-friendly personal computers, their breakthroughs have transformed our relationship with technology, making it indispensable in our daily lives.

Data centers are the backbone of that technology and power everything from AI to life-saving medical equipment. Data center demand is on the rise, but that also comes with a new set of challenges and opportunities for innovation:

In 2022, data centers consumed 460 TWh of electricity, matching Japan’s energy use.They account for 1% of global energy-related carbon emissions.Energy consumption is expected to double by 2026.Daily, data centers consume 300,000 gallons of water.They cover millions of square feet of land.

At this year’s Supercomputing Conference (SC24), our team is hearing these same challenges echoed across stakeholders. Thankfully we have a solution to share – Opteon™ 2P50 developmental fluid for two-phase immersion cooling (2-PIC) can help solve the data center energy and water crisis, making sustainability a reality. This innovation can:

Reduce cooling energy consumption by up to 90% and overall energy use by 40%.Nearly eliminate water use.Shrink the physical space required by 60%.Low global warming potential (GWP) of 10Enhance circularity, since fluid can be recovered, reprocessed and reused in perpetuity.

To pressure test those stats, we recently completed a study with LiquidStack and Syska Hennessy to compare performance across climates and technologies. The study confirmed that Opteon™ 2P50 can significantly reduce the energy use, total cost of ownership, and operational expenses by up to 88.6% compared to other liquid cooling techniques.

We’re eager to bring this revolutionary solution to the data center market, but to do so, we need the partnership and support of the value chain. If you’re interested in learning about Opteon™ 2P50, download the case study or contact us with your questions. My team and I would love to engage and discuss more.

View original content here.

Originally published by Solar Power World

“Domestic content compliance is determined off of the manufacturer’s actual production cost of a piece of equipment,” said Tony Ollmann, principal in charge of construction risk services and compliance at Baker Tilly LLP. “It’s not what the owner pays for it; it’s not what the contractor pays for it. You have to go all the way back to the manufacturer, and they have to share their confidential cost book in order to calculate domestic content. That’s a little bit like someone asking to see your W2 before they make you an offer on your next job.”

Continue reading here

Watch Baker Tilly’s on-demand webinar to learn more about the domestic content bonus requirement.

Originally published by Solar Power World

“Domestic content compliance is determined off of the manufacturer’s actual production cost of a piece of equipment,” said Tony Ollmann, principal in charge of construction risk services and compliance at Baker Tilly LLP. “It’s not what the owner pays for it; it’s not what the contractor pays for it. You have to go all the way back to the manufacturer, and they have to share their confidential cost book in order to calculate domestic content. That’s a little bit like someone asking to see your W2 before they make you an offer on your next job.”

Continue reading here

Watch Baker Tilly’s on-demand webinar to learn more about the domestic content bonus requirement.

Communities need a lot of things to grow: access to essentials like healthy food and a strong economy, and also intangibles like connection and purpose. Charlotte-based social entrepreneur Zack Wyatt saw a way to connect them all.

The Carolina Farm Trust (CFT) is a non-profit dedicated to strengthening our local food systems by working alongside partners, farmers, markets and consumers to increase access to healthy food. Their vision is to make the Charlotte region a global leader in local food production. Trane Technologies is proud to be a founding partner.

Organic Growth: The Carolina Farm Trust and Trane Technologies – Watch the video here.

Sustainable and resilient food systems

CFT is an innovative and holistic model, truly working from farm to market to table to support people every step of the way. The non-profit offers programming to support local farmers, supports land conservation efforts and operates an urban farm and a market.

At the Urban Farm at Aldersgate, CFT director of urban agriculture Mariah Henry and her team grow a dozen varieties of fruits, vegetables, herbs and flowers. They offer a neighborhood market on Fridays, and host educational tours for students and volunteer opportunities for community members. A classically trained chef with a passion for community engagement, Mariah sees Aldersgate as a blueprint for sustainable, equitable and profitable urban farm systems.

The team at CFT is also in the process of building the CFT Market, a new concept that combines a commercial kitchen, event space, meat processing facility, culinary education center, and wholesale and retail for produce, dairy, meat and prepared foods. Located in East Charlotte, CFT Market will offer farmers, butchers, bakers, chefs and neighbors a place to come together to build community and support the local food economy.

Walking alongside our partners

Trane Technologies is proud to walk alongside our partners at CFT. In addition to financial support, we share our expertise in a range of functions, from finance to marketing and operations. Our employees volunteer at Aldersgate and CFT Market, and CFT provided catering and joined in the conversation for our Purple Teams Summit this year, the gathering of our global employee-led volunteer network. Our shared goal is to increase community access to fresh, healthy food and agricultural jobs and education.

Trane Technologies Director of Global Citizenship Deidra Parrish Williams and her team members Amy Younger and China Antoine volunteering at the Urban Farm at Aldersgate.

What began as a conversation over breakfast between CFT founder Zack Wyatt and Trane Technologies VP of Sustainability Scott Tew two years ago has grown into a strong partnership between two organizations that believe in the power of transforming systems to make a positive impact on our communities.

Learn more about the Carolina Farm Trust.

Learn more about Trane Technologies’ corporate citizenship and community engagement work.

Want to be a part of a company that believes in the power of community engagement? Explore careers at Trane Technologies.

Resources to be focused on critical areas of need: small business assistance, housing and infrastructure

Truist to engage community partners to help identify highest-impact investments

CHARLOTTE, N.C., November 20, 2024 /3BL/ – Truist Financial Corporation (NYSE: TFC) today announced a new initiative, Truist Cares for Western North Carolina, a three-year, $725 million commitment to support critical small business, housing and infrastructure efforts in Western North Carolina as communities impacted by Hurricane Helene recover and rebuild.

The commitment will include new, dedicated capital for local small businesses, residents and municipalities, 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. To optimize this new initiative, Truist will work closely with community partners, including key civic and business stakeholders, and disaster response organizations, to help assess specific needs in the region and tailor programs in direct response to community feedback. These program resources are expected to be available beginning in December 2024.

“Western North Carolina, a community Truist has proudly served for decades, has begun the journey to recovery, and today, we are sharing the depth of Truist’s long-term commitment to supporting those efforts,” said Truist Chairman and CEO Bill Rogers. “Our purpose is to inspire and build better lives and communities. Through this new initiative, Truist will address areas of critical need in Western North Carolina, including a focus on small businesses as well as housing and infrastructure projects. By listening to the needs of the community and leveraging our expertise, capital and partnerships, we believe we can make a meaningful difference.”

Truist Cares for Western North Carolina will include the following dedicated support over three years:

$650 million in new, dedicated capital to support rebuilding and resiliency, including:$340 million in dedicated lending for qualified small businesses, residential mortgages, and commercial real estate$310 million in low-cost, tax-exempt municipal lending for infrastructure projects$50 million in loans and/or investments in Community Development Financial Institutions (CDFIs) by Truist Community Capital$25 million in philanthropic grants to local and national nonprofit organizations from Truist Foundation through trusted disaster response partnersRallying Truist teammates to serve the community with a challenge to volunteer 10,000 hours

The regional need for small business, housing and infrastructure support over the long term is clear. Small businesses contribute immensely to the economic backbone and social vibrancy of Western North Carolina and are particularly financially vulnerable in the recovery period of a natural disaster. Additionally, Hurricane Helene caused billions of dollars in home and property damage, while also devastating critical infrastructure including roads, bridges and water systems.

To express interest in participating in the Truist Cares for Western North Carolina initiative, nonprofits, local small businesses, government offices and consumers can call 844-4TRUIST, contact their relationship manager or visit their local Truist branch. More information can be found at Truist.com/TruistCares.

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.

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 Community Capital

Truist Community Capital, LLC (TCC) is a wholly owned subsidiary of Truist Bank with a diversified set of debt and equity capital products that are designed to improve and revitalize communities across the bank’s footprint. As an investor in the New Markets Tax Credit (NMTC) program, TCC has invested in over $4 billion of Qualified Equity Investments (QEIs). Its subsidiary, Truist Community Development Enterprises LLC (TCDE), is a certified Community Development Entity (CDE) with the CDFI Fund, a division of the U.S. Treasury, and has been granted 12 awards of NMTC allocation authority, totaling $768 million and generating new jobs and enhancing access to critical services for low-income persons and low-income communities.

SOURCE Truist Financial Corporation

Media Contact: Kyle Tarrance, media@truist.com