Tag: 3BL

Originally published on 3M News Center

ST. PAUL, Minn., October 9, 2024 /3BL/ — 3M expands its commitment to consumer safety and hearing protection with the launch of 3M™ WorkTunes™ Connect + Solar Hearing Protector. The headset marks the first solar charging wireless Bluetooth hearing protector available in the consumer market. Using the flexible solar cell technology Powerfoyle™, the headset continuously charges with both outdoor and indoor light for all-day protection, comfort and entertainment.

“At 3M we are committed to developing solutions that not only improve and meet safety standards but reimagine how personal safety is experienced,” said Jonathan Pieronek, global portfolio director, 3M Consumer Health and Safety. “Today’s consumer demands more – modern design, high-quality sound and effective protection – and they deserve a product that meets these needs. We are proud to deliver on that with 3M WorkTunes Connect + Solar Hearing Protector, giving consumers reliable, long-lasting hearing protection on the jobsite and off.”

“Backed by 15 years of R&D, Powerfoyle is engineered with the user in mind, offering seamless charging from any light source. Its ability to charge efficiently from any light source eliminates charging anxiety, giving users peace of mind with virtually unlimited power. The launch of the world’s first self-powered consumer hearing protector marks a new chapter in Exeger’s collaboration with 3M, combining cutting-edge innovation with practical solutions. As we continue to expand our product lineup, this partnership is set to redefine the smart worker segment, driving sustainable progress in safety, productivity, and worker well-being”, continues Giovanni Fili, founder and chief executive officer of Exeger.

Noise Induced Hearing Loss (NIHL) is almost entirely preventable by avoiding or reducing hazardous noise. 3M WorkTunes Connect + Solar Hearing Protector is equipped with a Noise Reduction Rating (NRR) of 26 dB offering substantial noise reduction to help lower the risk of hearing loss. The headset’s Powerfoyle solar cell technology charges the built-in lithium-ion rechargeable battery using both indoor and outdoor light, making it the first available consumer hearing protector to provide continuous charging in various lighting conditions to help ensure long-lasting power.

“3M’s innovative hearing protector technology offers consumers an upgrade to its previous models with improved sound quality, higher noise reduction and longer-lasting battery life within a lightweight, low-profile hearing protector,” said Jason Lunn, application engineering advanced specialist, 3M. “Prolonged exposure to noise over 85 dB can be detrimental to our hearing but for many this is a reality of their day to day. To help combat this issue, we wanted to give consumers a solution that not only helps reduce hazardous noise but is also comfortable to wear and can stream music throughout the day. We wanted to develop a product that consumers will want to wear so they don’t have to sacrifice personal safety for what they love to do.”

Whether a DIYer, hobbyist or pro on the jobsite, the new 3M WorkTunes Connect + Solar Hearing Protector provides enhancements for entertainment and communication while helping keep hazardous noises at bay. With a built-in microphone, you can quickly and easily make and take phone calls without removing your headset. Intelligent background-noise reduction provides enhanced call clarity, even in loud environments. The conformable ear cushions and water and sweat-resistant features offer comfort and durability for everyday wear.

3M WorkTunes Connect + Solar Hearing Protector headset is available for purchase on Amazon.com and retails for $169.99.

To learn more about how 3M supports hearing protection, visit 3M.com/worktunes.

About 3M 
3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what’s possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we’re working to improve lives and make what’s next at 3M.com/news.

SOURCE 3M Company

“Hey, cool, ScottsMiracle-Gro is releasing a white paper titled, The Truth About Lawns.”

We know what you’re thinking: The lawn and garden company is going to tell us why people and communities need to retain lawns and green spaces.

The truth is lawns do matter, and that’s backed by science. Turfgrass and green spaces contribute to overall wellness, protect natural ecosystems and support biodiversity and a sustainable future. These are among the many reasons we believe there are benefits to lawns.

And all of this is spelled out in our white paper.

Why are we making the case for lawns? Because it’s not lost on us the challenges many people face in an ever-changing climate, especially as drought plays a bigger role in forcing communities to find ways to save water. And this is what has prompted some to view lawns as a culprit rather than a benefit.

We think there is another way to look at the problem. Yards can be a combination of grass, clover, edible gardens, native plants…the list goes on. We strongly advocate for yards filled with living things versus nonliving things.

This is a philosophy that finds its way into our research and development efforts. Our scientists are developing new solutions for those living in challenging environments. They include what we call alternatives to traditional lawns, such as drought-tolerant grass options so people can enjoy a lawn in a variety of climates using turfgrasses that require less water.

The bottom line is we see lawns and living things as positive elements in the future. And we think you will, too, after checking out The Truth About Lawns.

Let’s GroMoreGood, together.

About ScottsMiracle-Gro

With approximately $3.6 billion in sales, the Company is the world’s largest marketer of branded consumer products for lawn and garden care. The Company’s brands are among the most recognized in the industry. The Company’s Scotts®, Miracle-Gro®, and Ortho® brands are market-leading in their categories. The Company’s wholly-owned subsidiary, The Hawthorne Gardening Company, is a leading provider of nutrients, lighting, and other materials used in the indoor and hydroponic growing segment. For additional information, visit us at www.scottsmiraclegro.com.

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Erin Bigley, CFA| Chief Responsibility Officer

Environmental, social and governance (ESG) issues continue to raise big questions for investment firms and clients. We think the future will be defined by a focus on material issues and changing client needs.

Responsible investing has been on a pendulum. Enthusiasm for incorporating ESG issues in investment strategies has given way to a reality check in recent years. Investment firms and clients today face tough challenges, including regulation, research, politics, portfolio implementation and performance. But in our view, responsible investing—the incorporation of financially material ESG factors into investment practices—isn’t going away anytime soon. 

As responsible investing evolves, the broad spectrum of client preferences and perspectives are at the heart of today’s ESG challenge. For us, the key question is: How can a global investment firm develop an ESG framework across asset classes that meets varied needs and enhances our ability to deliver the best possible outcomes for clients?

Fiduciary Responsibility Must Define ESG Efforts

The fiduciary principle of striving to achieve the best possible investment outcome for clients underpins every asset manager’s decisions. Yet when it comes to responsible investing, implementation of that fiduciary responsibility can take different forms. We think asset managers should offer a range of portfolios with different investing approaches to meet varying client needs. 

But there should be a unifying principle to responsible investing efforts. We believe that grounding all these ESG approaches in materiality is the key to meeting an investment firm’s fiduciary obligation to clients. That is, a portfolio manager’s duty is to analyze issuers and securities based on an array of pecuniary factors that could materially affect risk and reward potential. ESG issues that may have a positive or negative material impact on a business and a security’s return must be part of that analysis. From our perspective, it’s simply good investing. 

Many ESG issues create risks and opportunities for companies. For example, businesses using forced labor in supply chains could face an import ban in the US. Modern slavery poses business risks to industries as diverse as fishing and finance. Natural disasters such as hurricanes, earthquakes and droughts are becoming more numerous, extreme and costly for companies. Biodiversity is a potentially material issue amid the growing pressure on Earth’s life-sustaining and business-enabling resources and processes. The rapid rise of AI has unleashed a plethora of tricky ethical issues for companies, ranging from how much energy these efforts consume to the risk of model bias to the potential for job losses. Management behavior and other corporate governance practices can have a big influence on broader business outcomes. And we must acknowledge that material ESG risks and opportunities are often interconnected. In our view, researching issues like these as part of fundamental business analysis can enhance decision-making and client outcomes (See display 1 above).

Detecting Meaningful Risks—and Opportunities

What do many of these ESG issues have in common? In most cases, regulation is increasing globally. Companies that run afoul of the rules could face reputational risk, penalties and sanctions, which may impede efforts to boost revenue and earnings and incur costs. 

At the same time, proactive companies with solutions to ESG challenges can enjoy profitable opportunities. Examples include companies that help building infrastructure become more energy efficient, manufacturers of alternative energy equipment and companies that are enabling access to medicine or technology. 

When ESG risks and opportunities are material, we believe it would be remiss for an investment manager not to consider them in fundamental research.

Implementation: Integration vs. Focus

There are, of course, many ways to apply a materiality approach in an investment process. Since the terminology isn’t standard across the industry, investment firms must help clients understand the differences, amid the confusion created by an explosion of ESG-related portfolios in recent years. 

“ESG integration”—the approach described above—incorporates material ESG issues into research, engagement and security selection within a portfolio, using a traditionally defined investment universe. Integration is employed by most of AllianceBernstein’s (AB’s) actively managed investment strategies. 

Some clients prefer what we call “ESG-focused portfolios”—those that define an investment universe based on specific ESG criteria, such as identifying companies that are transitioning to a low-carbon economy or companies with revenue aligned with the United Nations Sustainable Development Goals. 

Both approaches share a common goal: to deliver attractive risk-adjusted returns for clients. The difference is that in ESG-focused portfolios, returns are generated using an ESG-related investment lens.

The Regulation Paradox: Transparency and Complexity

Regulatory efforts aim to provide greater clarity about ESG credentials of portfolios. For example, some traditional investment strategies now provide detailed and widely recognized ESG-related information about holdings and the portfolio. Although this doesn’t mean a portfolio is managed with an ESG focus, it provides transparency for investors who want it. 

The EU’s Sustainable Finance Disclosure Regulation (SFDR) from 2021 aims to improve transparency about ESG features of investment portfolios by having firms classify them as Article 8 or Article 9 products. Under SFDR, Article 8 portfolios should promote “environmental or social characteristics, or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.” Article 9 portfolios should have “an objective of sustainable investments,” according to SFDR. These classifications leave much room for interpretation, yet they help investors identify portfolios that meet their preferences. 

Different regulatory requirements have popped up in other jurisdictions, such as labelling regimes in the UK, France and Singapore. While the regulations may have similar goals of promoting transparency and addressing greenwashing, each framework differs in its scope or requirements, adding both a level of complexity and confusion. As a result, it’s challenging to do an apples-to-apples comparison between any two regulatory frameworks. 

The last word has yet to be said. We believe that evolving regulation, client scrutiny and performance trends will ultimately lead to a shakeout of products that don’t meet certain expectations. Meanwhile, firms and portfolios that develop innovative ways to research material ESG issues and to deploy capital effectively to meet clients’ fiduciary needs will likely gain traction.

Case Study: Climate Research and Implementation

As one of the most prominent ESG issues globally, climate change deserves special attention. It also provides a great example of how an investment firm can cater to diverse client needs while staying true to the materiality principle. 

The first step is to create a comprehensive research framework. At AB, climate risk management is a top priority in our overall ESG research effort because we believe climate change presents acute material risks to companies. In recent years, we’ve built a climate transition alignment framework to help our investment teams identify transition risks and opportunities. This proprietary framework isn’t intended to be a mandatory route to net zero emissions, nor a way to assess transition risk through a single backward-looking metric, such as a carbon footprint. Instead, it helps us better understand companies’ unique paths for navigating a lower-carbon future. 

Our climate research efforts also benefit from a partnership with the Columbia Climate School. Through this collaboration, investment teams gain access to academic expertise on the science of climate change and physical risks, which helps improve the analysis of sectors, industries and companies. Columbia gets to see the real-world application of its academic research, while our investment teams and clients can better educate themselves on crucial climate issues. 

With data in hand, our portfolio managers and analysts can develop investment insights about a company’s long-term prospects. These insights also inform engagements with companies to see how they’re managing risks and to determine whether their businesses will be successful in a lower-carbon world. 

How the research is applied depends on the portfolio’s philosophy and client preferences. For example, within traditional mandates, a portfolio could deploy an ESG-integration approach by incorporating knowledge of material risks and opportunities created by climate change in the full risk-reward analysis of holdings; insights from this research can also inform engagements with high-emitting companies. Alternatively, clients can choose a more specific climate focus, by setting portfolio decarbonization targets or investing in climate solutions.

Engagement Sharpens Investment Insight

For active investors, we believe that developing conviction in a company’s risk/reward profile also requires engagement with management—including on material ESG issues. This principle guided 1,703 ESG engagements that we conducted during 2023 with 1,296 unique issuers (See display 2 above).

These engagements have two purposes: developing insight and encouraging action. Portfolio teams meet with management and board members to discuss impact, strategy and responses to material ESG issues. By doing so, they can develop in-house views on a company’s current ESG credentials, future direction and impact on an issuer’s financials or valuation. 

Portfolio managers and analysts can also encourage issuers to improve business activities and responsibility practices to create shareholder value and reduce/limit credit risk. Since both engagement goals aim to enhance shareholder value or return potential, they support an investment manager’s fiduciary duty toward clients. In other words, targeted engagement efforts are also essential ingredients in good investing practices, in our view. 

But what do clients expect from their investment managers when it comes to ESG? Questions about our corporate ESG practices are commonplace in communications with clients. We’re often asked about our firm’s ESG policies and research and investment processes in requests for proposals (See display 3 above).

These questions indicate that ESG issues remain firmly on the global investing agenda. It also reinforces our belief that ESG won’t fizzle out like some investment fads of the past.

Shaping the Future 

Change will continue. Regulatory scrutiny, fund flows and performance patterns are all shaping the future of responsible investing. This is a natural evolutionary process that we’ve seen before, and the industry should emerge stronger. Asset managers that develop advanced technical tools to enhance the assessment of material ESG factors will be well placed to deliver better outcomes for clients. 

Opponents of ESG aren’t going away either. Yet we think the public debate should be constructive, pushing the diverse spectrum of responsible investing practitioners to stay focused on our common objective: delivering strong risk-adjusted returns for clients. Some services may not survive, while those that do will likely be strategies that truly add value through better ESG integration and focus. Just as traditional investing tactics and processes have developed over time, we believe that the use of ESG in investment portfolios in the future will benefit from more consistency and transparency based on a thorough materiality check of research and portfolio processes.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.

AB engages issuers where it believes the engagement is in the best interest of its clients.

Learn more about AB’s approach to responsibility here.

FORDYCE, Ark., October 9, 2024 /3BL/ – On Friday, June 21, the unspeakable occurred at the Mad Butcher grocery store in Fordyce, Arkansas, a town of just 3,200 people 65 miles from Little Rock. An armed man shot 13 people, including two law enforcement officers, killing four.

The Georgia-Pacific OSB facility in Fordyce worked immediately to provide much needed support and services to its employees and the community. Georgia-Pacific is a Koch company, and facility leadership reached out to the Koch Crisis Center to leverage employee assistance program (EAP) resources offered through Spring Health. The following Monday after the shooting, Spring Health counselors were on site to meet with groups of employees, facilitate one-on-one sessions, and distribute printed resources with the EAP hotline number. Spring Health is more than an EAP service for employees, as it collaborates with leading companies worldwide to offer mental health services that prioritize the unique needs of employees and their families.

“Our community suffered a senseless act of violence on Friday, June 21. We witnessed empathy and compassion as the community came together to aid, volunteer, and serve families and friends who fell victim to the tragedy,” said Craig Sheek, plant manager for Georgia-Pacific’s Fordyce OSB Mill. “We are proud to be a part of the community, especially the community within our facility.”

“Within an hour of the tragic events unfolding, we connected with Spring Health Employee Assistance Program, a benefit provided by our parent company Koch at no cost to our employees and their household members. The provider dispatched a crisis response team of five licensed counselors to arrive at the facility on Monday, June 24 at 4:30 am for a day of one-on-one sessions and group crisis support needed for our team,” said Corina Schindel, HR business partner for Georgia-Pacific’s Fordyce OSB Mill. “Fordyce is a community of courage and strength. We value being a part of an organization that leads by our principles, supports community involvement, and builds empowered relationships capable of doing extraordinary things.”

In July, the Fordyce facility worked with FBT Bank & Mortgage, a local bank, to donate $20,000 to a victim’s relief fund for those affected by the shooting. “FBT was privileged to welcome Craig Sheek, Corina Schindel, and Ronke Adetoba from Georgia-Pacific to our bank lobby on July 29. We were honored to help distribute the $20,000 donation from Georgia Pacific’s Fordyce OSB plant to the victims and families impacted by the mass shooting,” said Jim Hulse, president, CEO & chairman of the board for FBT Bank & Mortgage. “The funds were transferred into the designated accounts on the same day, as instructed by Georgia-Pacific. We feel incredibly blessed and are grateful to God for this generous gift and for the presence of the OSB plant in our community. Fordyce is truly fortunate to have such compassionate individuals care about the community,” Hulse said.

People are at the heart of everything we do at Georgia-Pacific. We work to create stronger communities and improve lives. Georgia-Pacific is also there with support when a community faces a tragedy. Learn more about our Social Stewardship initiatives here.

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SALT LAKE CITY, October 9, 2024 /3BL/ – KeyBank commemorated the one-year anniversary of its West Valley City branch recently, with a celebration that included a variety of sweepstakes, networking, a visit from a Real Salt Lake player, family activities and a $10,000 grant to support the mission of Comunidades Unidas. 

Founded in 1999, Comunidades Unidas is focused on supporting Latinx immigrants in Utah by connecting them to social service programs needed to recognize and achieve their full potential.

The West Valley branch highlights KeyBank’s state-of-the-art financial wellness center model, which is staffed with financial wellness consultants rather than a traditional teller line. All transactions are completed at desks, where consultants also conduct comprehensive financial wellness reviews and discussions. Clients can also meet with specialists in mortgage, investments, business banking and more at the location. 

“We’ve had a great first year at our newest Utah branch in West Valley City,” said Drew Yergensen, KeyBank Utah market president and commercial banking leader. “We have really enjoyed meeting and working more closely with our new neighbors, clients and community partners, and we look forward to strengthening those relationships even further in the coming years.”

The branch features digital video screens and a client hospitality space that also serves as an area for financial seminars and group presentations with clients and the public, as well as a drive-up teller line, ATM and complimentary parking. In addition to helping individuals and families achieve their financial goals, the branch also serves clients seeking to develop and grow businesses in the area. 

The full-service branch is located at 2807 South 5600 West, West Valley City. UT 84120.

ABOUT KEYBANK
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $187 billion at June 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 Member FDIC. 

As a five-time EPA ENERGY STAR Partner of the Year – Sustained Excellence Award recipient, we are an active participant in the program, sharing our strategies and successes with other industrial companies.

The Partner of the Year – Sustained Excellence Award is the highest level of recognition in the EPA’s ENERGY STAR program. To earn the award, companies must go above and beyond the criteria for Partner of the Year recognition by showing continuous improvement over time in organization-wide energy savings and environmental performance, demonstrating best practices and actively promoting the ENERGY STAR program.

MPC’s award recognizes its performance throughout 2023, which includes these achievements:

• Companywide greenhouse gas intensity decreased for the ninth consecutive year.

• The St. Paul Park, Minnesota, refinery completed a three-year project to reinforce insulation across the entire site, which is lowering energy consumption and anticipated to reduce carbon dioxide-equivalent emissions by nearly 16,000 metric tonnes per year.

• MPLX’s Bluestone natural gas plant in Pennsylvania reduced its energy intensity by approximately 10% within just one year of establishing a baseline as part of the ENERGY STAR Challenge for Industry.

• Five MPC refineries received 2023 ENERGY STAR certifications, meaning their energy efficiency performance was in the top 25% of peer facilities across the country. Since the certification program began, MPC has earned more certifications than all other U.S. refining companies combined.

ENERGY STAR® Challenge for Industry 

The ENERGY STAR Challenge for Industry is a national call to action to improve the energy efficiency of America’s manufacturers by 10% or more. By taking the ENERGY STAR Challenge, manufacturing sites set a goal to reduce their energy intensity by 10% within five years.

MPLX’s Bluestone natural gas plant in Pennsylvania entered the ENERGY STAR Challenge for Industry and has reduced its energy intensity by approximately 12% within 24 months, with aspirations to reduce this energy intensity further. This reduction has avoided an estimated 50,000 tonnes of CO2e emissions during the 24 months. Additionally, we have 10 MPLX terminals that have previously achieved the challenge.

To build on the success of Bluestone, additional MPLX gas processing facilities have been recently entered into the ENERGY STAR Challenge, namely the Houston, Pennsylvania, facility, which is the largest gas processing facility in Pennsylvania, and the Sherwood, West Virginia, facility, which is the largest gas processing facility in the United States. As the ENERGY STAR program becomes more established within our midstream operations, the intention is to expand it to additional facilities, which will further reduce company energy use.

Learn more in our most recent Sustainability Report.

Client background

The client is one of the oldest private universities in the United States, established in the mid-1800s. They have more than 2,000 undergraduate and graduate students and more than 130 staff members.

The business challenge

Due to national demographic shifts and the overall climate in higher education, the client faced declining enrollment and needed assistance establishing a strategic plan and road map for the next several years. The university engaged Baker Tilly to conduct a current state assessment and facilitate executive strategic planning retreats to chart the course for the future.

Strategy and solution

Baker Tilly facilitated several weeks of analysis on the current state environment, prepared the executive leadership team for strategy workshops, executed broad-based organizational surveys, conducted strategic workshops and aligned the president’s council on the five-year strategy. The strategy consisted of five overall strategic goals, which then cascaded into numerous strategic objectives, initiatives and tasks necessary to advance each of the five strategic goals.

In order to analyze the current state environment, Baker Tilly worked with leadership to identify individuals across the institution to provide an appropriate representation of opinions and perspectives regarding challenges and opportunities and the operational health of key functional areas that contribute to overall institutional sustainability. Baker Tilly’s higher education operational framework provided the structure for survey and resulting analysis across six key dimensions: strategic enrollment management, student experience and success, academic portfolio and availability, resource optimization and operational efficiency, fiscal health and operational effectiveness.

To prepare the executive leadership team for the strategy workshops, Baker Tilly provided the team its Path to Sustainability toolkit, co-authored with the National Association of College and University Business Officers (NACUBO) as a primer for strategic conversations. The executive leadership team used these tools to identify institutional myths that commonly permeate campus communities and constrain policy decisions. More importantly, the team was able to contemplate best or good practices that have proven themselves successful in combatting/dispelling these myths and providing actionable ways forward.

Baker Tilly structured and moderated a strategic planning workshop over two days with the executive leadership team, with the objective of identifying tasks the university should focus on to help achieve their organizational goals. These goals include reducing the budget deficit, achieving positive cash flow and envisioning their future state. The workshop drove the identification of six strategic focus areas, detailing the goals/objectives of each and a prioritized set of key initiatives in support of each area.

Specific focus in the resulting strategic plan was afforded to academic innovation in concert with career readiness considerations, collaborating within key regional and national industries and commercial leader relationships to address regional workforce development needs. Overarching emphasis on enhancing the student experience was also considered critical.

Upon completing the work, the university testified that the preparation activities were a critical foundation to ensuring the executive strategic planning retreat achieved its objectives and served as a key differentiator compared to other management consulting firm approaches. As a result, the university appointed an internal leader charged with strategic plan implementation and monitoring.

Connect with a Baker Tilly specialist of learn more

Cascale, the global nonprofit alliance formerly known as the Sustainable Apparel Coalition, has published its third Global Legislative Update for its members. The comprehensive quarterly report offers a thorough overview of legislative actions from July to September 2024 affecting the textile and apparel industry across the EU, U.S., Asia, and other key markets. With over 300 leading organizations, Cascale recognizes the importance of staying informed on policy shifts to support sustainable practices and navigate evolving regulations.

The latest update highlights significant regulatory advancements focused on worker protections, environmental sustainability, and climate-related disclosures, with key developments in regions like the U.S., EU, and Asia. These updates emphasize stricter compliance requirements across the industry, particularly in addressing climate change and promoting responsible supply chains.

Below is a summary of key insights from the Q3 Global Legislative Update, offering a glimpse of the full report. The full report is available exclusively to Cascale members on our members-only platform, Cascale Connect. Cascale members are encouraged to log in to access the latest Global Legislative Update.

Not yet a Cascale member? Explore membership today. 

Key Developments

Several regulatory developments designed to protect workers came into play. For example, the United States proposed its first-ever rule to protect workers from extreme heat, while Indonesia passed a new law strengthening the rights of working mothers.

Environmentally and socially responsible supply chains gained momentum around the globe. Mainland China, India, and the United States have made strides toward adopting measures that promote more sustainable product practices. In the EU, the Ecodesign for Sustainable Products Regulation (ESPR) and the Corporate Sustainability Due Diligence Directive (CS3D) entered into force – on July 18 and July 25, respectively.

In the EU, newly re-elected European Commission President Ursula von der Leyen presented a set of ‘Political Guidelines’ for her second term of office. The guidelines include a commitment to staying the course on the goals set out in the European Green Deal. The guidelines will inform the Commission’s legislative agenda over the next five years.

In the United States, California passed an amendment granting a six-month extension to the California Air Resources Board (CARB) to finish its rulemaking and adopt regulations for reporting entities’ annual greenhouse gas (GHG) emissions disclosures under the state’s 2023 climate disclosure laws. The amendment does not alter the compliance deadline, which starts in 2026 for large private and public companies doing business in the state. California also signed into law the Responsible Textile Recovery Act (SB 707), introducing an extended producer responsibility (EPR) program for waste apparel and textile articles from 2028.

The United Nations Climate Change Conference, or Conference of Parties (COP) presidency, currently held by Azerbaijan, announced plans for what it hopes to achieve at the COP29 in Baku this November. A key agenda priority is the creation of a climate fund, capitalized with voluntary contributions from fossil fuel-producing countries and companies. Global climate adaptation finance remains insufficient.

Key Implications

Recent worker-related regulatory developments worldwide signify an overall strengthening of protection of employee wellbeing and introduce additional compliance requirements for companies across industries. For example, employers may need to designate a ‘heat safety officer.’

The EU’s ESPR aims to reduce the negative impact of products throughout their lifecycle. The use of life cycle assessment (LCA) data is central to ecodesign and the ESPR. Product-related sustainability data will be registered in the Digital Product Passport (DPP), a key component of ESPR. This includes data on its materials, manufacturing processes, end-of-life options, and environmental impact. The textile, apparel, footwear, and consumer goods sectors, with their often complex and lengthy supply chains, are expected to be significantly affected by ESPR. Complementary to the Regulation itself, a Delegated Act for Textiles is currently being developed, which will lay down the detailed components of how the regulation is to be implemented for the apparel and textiles sector.

The European Commission’s ‘Political Guidelines’ introduce new initiatives, such as the Circular Economy Act and Clean Industrial Deal, which could be relevant to Cascale’s impact pillar ‘combating climate change.’ Other initiatives, including a European Water Resilience Strategy, a chemicals industry package, and a Vision for Agriculture and Food, may have indirect impacts on environmental sustainability and resource efficiency.

California’s two climate disclosure laws go beyond the U.S. Securities and Exchange Commission (SEC)’s draft climate disclosure rule (currently on hold pending court challenges) and most public companies’ current practices, particularly in reporting Scope 3 emissions. Given the size of California’s market, the state often acts as a ‘de facto’ national regulator. Harmonized legislative frameworks would be preferable for many companies and are also a key policy priority for Cascale members.

Looking Ahead

Demands for better protection for workers in the context of climate change will increase, especially in light of the International Labour Organization’s (ILO) recent warning that over 70% of the global workforce is at risk of extreme heat. Industries reliant on manual labor are at the highest risk.

As climate’s overall impact on health comes into greater focus, governments will likely seek to offload some of the economic cost onto the private sector.

In the EU, while the new Commissioner has indicated a continuation of climate policy, climate change could become less of a priority following the European Parliament’s shift to the right in the June elections. Climate action will increasingly be framed in the context of industrial competitiveness.

The outcome of the U.S. presidential election in November could significantly influence the pace of the country’s — and the world’s — green energy transition. Vice President and Democratic nominee Kamala Harris’ energy policy position includes support for the energy transition and international agreements on climate change, coupled with increased environmental regulation. The energy policies of former President and Republican nominee Donald Trump would focus on the deregulation of the fossil fuels sector.

A Harris administration could potentially strengthen the U.S.‘s commitment to international climate agreements, such as the Paris Agreement, which would have significant implications for fashion’s carbon footprint. A re-election of Trump to the presidency would likely lead to U.S. disengagement from climate negotiations, potentially hampering global efforts to mitigate climate change.

Cascale’s Public Affairs team is committed to keeping members updated on critical legislative developments and their potential impacts. These updates align with Cascale’s strategic plan and policy priorities and are designed to address the most pressing needs of our members. For more detailed insights and resources, Cascale members can access exclusive content via Cascale Connect here.

Stay informed

Cascale will host a Brand & Retail Forum in Brussels, Belgium, on December 4-5, 2024. The event offers a dynamic mix of policy-focused discussions and broader industry insights, all designed to empower Cascale members and stakeholders in the consumer goods sectors. Learn more and register today.

For the latest Cascale updates, events, and public affairs activities, subscribe to our newsletter.

October 9, 2024 /3BL/ – There is a direct correlation between the proper utilization of the GRI Standards and a stronger corporate social performance. This is what emerges from How to strengthen corporate accountability: The case for unlocking sustainable corporate performance through mandatory corporate reporting, jointly published by Global Reporting Initiative (GRI) and World Benchmarking Alliance (WBA).

At the halfway point to achieving the SDGs, many targets remain off track. According to the new report, governments must lead business engagement and ensure corporate efforts have a real impact on sustainable development, a process for which clear benchmarking is pivotal.

The publication explores the link between the use of the GRI Standards and companies’ social performance, as measured by WBA’s Core Social Indicators (CSIs). These indicators are part of a benchmarking system (WBA’s Social Benchmark) ranking 2,000 of the most influential companies based on their contributions to social sustainability, with a focus on human rights, decent work, and ethical practices.

The research indicates that strong adherence to globally recognized reporting standards can be linked to improved social sustainability outcomes. The findings include:

There is clear evidence that companies that publish a sustainability report with a GRI Content Index achieve significantly better results in CSIs, scoring at least 47% higher than other companies in WBA’s Social Benchmark;Organizations that report in accordance with the GRI Standards consistently outperform those that only with reference to the Standards;Companies with the highest CSI scores correlate with those that follow the GRI Standards for reporting.

Peter Paul van de Wijs, GRI Chief Policy Officer, said:

“Governments are responsible for accelerating progress toward the SDGs, yet they need deeper business cooperation to succeed. The core issue is the lack of enforcement mechanisms to hold companies accountable for their role in collective sustainability goals. Mandatory sustainability reporting, coupled with clear evidence of its genuine impact, would not only ensure corporate transparency, but also attract greater institutional attention and investment in sustainable outcomes.”

Richard Gardiner, Head of EU Policy at World Benchmarking Alliance, added:

“This report clearly shows that corporate reporting on sustainability not only enhances transparency, but more importantly appears to drive better corporate decision-making, leading to improved corporate sustainable performance. This positive impact of transparency on performance should guide governments to further examine measures such as mandatory reporting rules to drive accountability and help align corporate actions with global sustainability goals.”

The publication was officially launched during the event How to make the SDGs consequential for business, part of GRI’s engagement during Climate Week NYC 2024.

Originally published on September 25th, 2024, on LinkedIn

This morning, we celebrated the opening of the Sysco Toronto Legacy Space through Sysco Ontario’s 5-year partnership with The Gord Downie & Chanie Wenjack Fund. This Legacy Space features a beautiful, hand-painted mural from Hannah Sage LaForme of the Mississaugas of the Credit First Nation, and a library nook featuring books and resources on meaningful reconciliation and education. 

We were honoured to have Elder Garry Sault of the Mississaugas of the Credit First Nation open the celebration through word, song, and a smudging ceremony; followed by Kayleigh O’Connor of The DWF, who shared more about their commitment to improving lives of First Peoples in Canada. Tim Cameron, President of Sysco Ontario, shared remarks on Sysco Canada Inc.’s commitment to reconciliation and to the Legacy Space program – including how we’re participating in our own reconciliACTION. 

In the spirit of empowering and sustaining Indigenous business, refreshments from White Buffalo Coffee Company, Bangin Bannock, and Rad Jamz & Preserves were served. 

We’re grateful to the Circle Ontario team for developing this partnership, as we strengthen our commitment to reconciliation, and fostering partnerships and collaboration with Indigenous communities; the DWF team for meaningful engagement as we developed this Legacy Space; and the Mississaugas of the Credit First Nation, including Elder Garry and artist, Hannah Sage LaForme, for their teachings and wisdom.

On Saturday, September 28, CTV Toronto featured the Sysco Toronto Legacy Space in honour of the National Day for Truth and Reconciliation. Hear from artist Hannah LaForme, Elder Garry Sault, and Jason Welter, HR VP of Sysco International Americas. Watch clip here.

About Sysco

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For fiscal year 2024 that ended June 29, 2024, the company generated sales of more than $78 billion. Information about our Sustainability program, including Sysco’s 2023 Sustainability Report and 2023 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.

 For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

View original content here.