Tag: 3BL

Originally published on Insights by Black & Veatch

Impacts from severe climate events are affecting utilities in all the regions of our country. While the geographical impacts vary from fire to snow, hurricanes and tornadoes, the threats remain the same in the form of outages, damaged infrastructure and widespread disruption. For this reason, large investments are required, but a one-size-fits-all approach to resiliency doesn’t work due to the regional diversity of threats.

Energy utilities from regions where lower risks were reported aren’t necessarily better prepared for those risks; they just have alternative threats to consider. With climate modeling data growing in accuracy, the storm readiness and response teams of energy utilities can be a lot more strategic and effective in their tailored approach to the specific region.

According to responses from nearly 700 U.S. electric sector stakeholders for Black & Veatch’s 2024 Electric Report, cold/ice (66 percent), high wind (62 percent) and heat (49 percent) are the most common threats to system operations, and these concerns vary significantly by region. For example, wildfire is the biggest concern in the West (68 percent) while it’s a lesser concern in the Midwest (20 percent) (Figure 14).

Despite these obstacles, recovery times are being optimized, and those surveyed reported that their specific utility’s recovery time has improved from previous years — with 48 percent saying it’s taking less time to recover from severe weather events (and just 13 percent saying it’s taking more time).

This may be attributed to utilities developing more robust response plans, mutual assistance programs, system automation and improved infrastructure. Utilities also are implementing ways to isolate and address issues before the entire system is affected. Additionally, we’re seeing the positive effects of resiliency investments in grid infrastructure a few years after the U.S. government’s Infrastructure Investment and Grid Resiliency and Innovation Partnerships (GRIP) Program was established.

Disaster Planning Gains Momentum

Most utilities reported they are prioritizing disaster planning, regardless of regulatory requirements. Thirty-seven percent of respondents say they are motivated by regulatory requirements, while 41 percent said they would be developing disaster plans even if it wasn’t regulated.

Only 12 percent responded that resiliency is “probably not” or “definitely not” being given more consideration regarding their investment decisions (Figure 15).

With almost eight in 10 respondents incorporating disaster planning, it’s clear that utilities are taking a proactive approach and making progress in their resiliency efforts. But are utilities effectively using data to inform further investments?

Affordability Still a Major Hurdle

Survey data revealed that the biggest hurdles to climate event mitigation include affordability (55 percent), regulatory scrutiny and rate case approval (38 percent), and difficulty in accurately modeling future events and impact (33 percent). The severity of these top three obstacles increased significantly from 2023 to 2024; conflicting priorities and internal buy-in also became a bigger problem in 2024 (29 percent, up from 22 percent) (Figure 16).

The top two hurdles — affordability and rate case approval — go hand in hand, and the sheer magnitude of investments needed is creating affordability challenges nationwide. Conversations with energy utility clients also have highlighted that more attention is necessary to unlock the power of data analytics for accurate climate modeling.

Infrastructure Investments Needed. But Where?

Despite great progress fueled by the Infrastructure Investment and Jobs Act (IIJA), industry data shows that there’s still investment needed for our nation’s grid infrastructure to achieve optimal resiliency and reliability. And despite widespread funding and investment, utilities still face affordability and regulatory roadblocks.

Could climate modeling and improved data analytics related to climate-based events and their direct impacts on infrastructure trigger approvals for necessary investments?

Although modeling technology has come a long way, severe weather events remain unpredictable and can, at times, feel like a guessing game, leaving energy utilities wondering where to invest.

Engineering, procurement and construction (EPC) companies such as Black & Veatch are performing studies for major energy providers that include financial models and stakeholder communications that effectively inform how to appropriately set aside money for repairs and optimizations.

Extreme weather events are increasingly frequent and — combined with large-scale energy transition — create a complex environment that requires significant investments across the electric utility sector. Utilities that are proactive in leveraging climate and risk analytics to develop data-driven strategies position themselves best for navigating the unpredictability in weather and regulations.

Download the Black & Veatch 2024 Electric Report

Published by Las Vegas Sands on September 19, 2024

Marina Bay Sands held its 10th Sands for Singapore Charity Festival Aug. 23-25 and raised more than $3.5 million for local nonprofit organizations, bringing the total amount generated by the festival to nearly $30 million since its inception in 2013.

The cornerstone of the resort’s community engagement program and one of its signature annual events, the charity festival featured multiple days of activities, live entertainment and events, all to benefit local charitable causes under the theme: Where Hearts Come Together.

A key annual highlight of the Sands for Singapore Charity Festival is the annual Community Chest Heartstrings Walk and Vertical Marathon in which participants ascend 57 stories up to the Sands SkyPark. Co-organized by Marina Bay Sands and Community Chest, the event benefited more than 30 programs supported by Community Chest.

The charity festival again featured the Giving Marketplace, where nonprofit organizations and small businesses raised funds and promoted their causes in 16 booths that offered handcrafted products, baked goods and lifestyle products made by beneficiaries from local nonprofit and charitable organizations.

New features added this year in celebration of the festival’s 10th edition included the return of the ice cream pop-up Scoops of Hope from August 16-25. Marina Bay Sands’ executive pastry chef Hoi Kuok I offered locally inspired flavors, and all proceeds benefited Metta Café and its mission to provide food and beverage vocational training programs for graduates with intellectual disabilities.

Marina Bay Sands also introduced Heartwork: Upcycling for Good, in which visitors could make a small donation and turn plastic bottle caps into heart-shaped coasters and keychains. More than 35,000 bottle caps were upcycled, and funds benefited the Asian Women’s Welfare Association for its transitional shelters program, which provides displaced families with temporary housing.

Encompassing all activities, the festival capped 10 weeks of community events and innovative fundraising efforts. More than 4,000 Marina Bay Sands Team Members participated in over 20 volunteer activations and contributed more than 6,600 volunteer hours, bringing the total number of Team Member volunteer hours to more than 110,000 since the resort’s opening.

Volunteer service in the weeks leading up to the 2024 Sands for Singapore Charity Festival included supporting the Asian Women’s Welfare Association, one of Singapore’s largest multi-service social service agencies, by enhancing the living conditions in its temporary shelters. Team Members also organized a National Day celebration for residents at Moral Home for the Aged Sick, including music, engaging activities and a cake to enjoy.

In July, Team Members volunteered to support beneficiaries from three local Singapore Red Cross programs, including the Day Activity Centre for the Disabled, ElderAid and Red Cross Home for the Disabled. Team Members were paired with beneficiaries to paint art canvases, and the completed canvases were joined together to form a bigger art piece, which was displayed during the 9th Singapore Humanitarian Conference by the Singapore Red Cross.

“We recognize the collective impact we can make when we come together as a community,” Paul Town, chief operating officer at Marina Bay Sands, said. “This year’s Sands for Singapore Charity Festival marked a decade of contributions, and it is heartening to see how far we have come since its early days. The festival is testament to the power and strength of unity, when we band together to create lasting impact in the community.”

The annual Sands for Singapore Charity Festival is part of the global Sands Cares community engagement program, which provides charitable investments, capacity-building initiatives and volunteer support to ensure Sands’ regions remain great places to live, work and visit.

To learn more about the variety of community endeavors spearheaded by Sands Cares, read the company’s latest ESG report: https://www.sands.com/resources/reports/.

In this Q&A, Ross Pamphilon and Mark Duffy of Impax Asset Management explore the nuances of the asset class of Impact Bonds and how rigor and expertise can help investors navigate an expanding opportunity set. 

Executive Summary

We believe it is worth taking a nuanced view of impact bonds, considering both non-labelled and labelled green, social and sustainability bonds.Thorough issuer-specific research helps us to understand the environmental and social merits of each bond, assess the impact of financed projects, and maintain flexibility in labelling sustainable securitizations.Within a portfolio, impact bonds can offer stability, transparency, and diversification alongside attractive risk-adjusted returns.

Over the last 25 years of investing in impact bonds, we have learned the value of looking beyond labeled green, social and sustainability (GSS) bonds. By broadening the definition of impact bonds, investors can access a wider range of opportunities to generate positive environmental and social outcomes while pursuing attractive risk-adjusted returns. However, navigating this market requires a nuanced understanding of innovative security structures, evolving standards and project-level impact assessment.

In this Q&A, we’ll look at how to define the asset class and explain why we look ‘off-label’, how the global impact bond market has grown, whether impact bonds involve higher credit risks, and the role these instruments can play in an investment portfolio.

Find their useful answers to a variety of questions here – https://greenmoney.com/lifting-the-lid-on-impact-bonds-5-questions-for-investors/

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Children’s Hospital Los Angeles (CHLA) presented its 2024 Courage to Care Award to AEG at the hospital’s gala hosted at L.A. LIVE in Los Angeles, CA on October 5, 2024. The biennial gala pays tribute to its brave patients and remarkable physicians, researchers and caregivers who create hope and build healthier futures for children.

The Courage to Care Award is presented to individuals who have demonstrated extraordinary commitment to children, pediatric-related causes and humanitarian efforts at CHLA and beyond.

As longtime supporters of Children’s Hospital Los Angeles, AEG has helped the hospital fulfill its mission to create hope and build healthier futures for children. Through the organization’s exceptional contributions and partnerships with the Los Angeles Galaxy and the Los Angeles Kings, among others, AEG has invested in critical programs and services, such as the Blood Donor Center, the Sports Medicine Program, pediatric neurosurgery research and the Children’s Fund, which supports the hospital’s greatest needs.

BELLEVUE, Wash., October 9, 2024 /3BL/ – T-Mobile (NASDAQ: TMUS) has activated its emergency operations and preparedness plan as Hurricane Milton approaches Florida, mobilizing its emergency teams to help keep customers, communities, first responders and others connected. In summary:

T-Mobile’s network has been hardened to withstand anticipated extreme weather conditions along Milton’s projected path and the company’s experienced emergency response teams are preparing portable generators and heavy-duty network equipment to provide support when and where needed.T-Mobile’s emergency response team is actively working with federal and state public safety agencies as well as Florida’s State Emergency Operations Center (SEOC) in Tallahassee to identify early prioritization needs immediately following the storm.To keep employees safe, T-Mobile has temporarily closed stores, a Customer Experience Center and a T-Mobile for Business Virtual Business Center, all of which are located in Milton’s path. Customer calls will be rerouted to other locations. The company’s community support team is on standby to deploy relief supplies as conditions allow.T-Mobile and Starlink asked for and received a second Special Temporary Authority (STA) from the FCC to operate our T-Mobile Starlink Direct-to-Cellular service over Hurricane Milton’s projected path. Wireless emergency alerts and SMS, including the ability to text 911, are now enabled in Florida as well as the areas previously impacted by Hurricane Helene.T-Mobile also stands ready to support cross-carrier roaming requests from other wireless providers as needed.

Network Modernization, Technology and Hardening

T-Mobile continues to make investments in its network nationwide to prepare for the unpredictable and challenging nature of extreme weather. This includes tapping into the capabilities of AI and data to help support real-time response and faster recovery. An experienced T-Mobile team who has deep familiarity with the challenges associated with massive storms like Milton is at the ready in Florida and knows what it takes to quickly recover network impacts. The team has taken steps to harden its network, using extensive analysis of historical data, customer density and meteorologist experts to proactively strengthen the network’s infrastructure to help reduce interruptions. This includes adding overlapping coverage, installing back up power sources to towers and key network sites, building redundant backhaul routes for cell sites and core network, and performing ongoing inspection and maintenance of all facilities.

T-Mobile’s network modernization employs innovative technologies that aim to improve resilience, including:

Cognitive Self-Organizing Network (SON): A “smart” network that automatically assesses, manages and optimizes performance during disasters, redistributing resources across the network and “healing” coverage gaps by adjusting nearby towers.24/7 Automatic Coverage Optimization: Continuously re-configuring antenna patterns to optimize signal and expanding coverage area during service interruptions – over 100,000 tilts took place throughout Hurricane Helene.Guided Digital Antenna Tilting: Allows engineers to remotely fine-tune coverage, boosting signal for critical areas such as rescue operations, Incident Command Centers, shelters, reunification centers and hospitals.Automated Parameter Changes: AI enabled real-time network performance monitoring to adjust site parameters to avoid congestion and increase data performance and connectivity.Spectrum Layer Management: Automatically optimize power level on multi-band 5G network during commercial power outages to extend backup generators and batteries runtime.Network Hardening: Proactively strengthens network infrastructure to reduce interruptions using extensive analysis of historical data, customer density and meteorologist experts. This includes adding overlapping coverage, installing back up power sources to towers and key network sites, building redundant backhaul routes for fiber, satellite or microwave, and performing ongoing inspection and maintenance of all facilities.

This multi-faceted approach helped keep a vast majority of customers connected in the midst of Hurricane Helene recovery: approximately 10% of T-Mobile customers in the path experienced coverage loss in the first 24 hours following the storm even though 30% of T-Mobile’s network sites were impacted. Within 72 hours, less than 1% of customers remained affected, primarily due to power outages and other challenging and unsafe conditions.

Equipment Ready to Deploy

T-Mobile’s emergency management team, local teams and National Operations Centers are working together to monitor the network around the clock. Local network and market teams and field technicians use knowledge of the area to provide critical understanding of potential impact and implement real-time mitigation strategies. The teams are also pre-staging a fleet of equipment and relief supplies at our emergency response facilities in Live Oak, Florida and Plant City, Florida along with our Everglades Mobile Switching Office in Sunrise, Florida for rapid deployment and activation as conditions safely allow that will provide critical network connectivity, power and Wi-Fi for first responders, disaster organizations and communities at locations such as fire and police departments, incident command posts, shelters reunification centers, hospitals, local government facilities, stores providing community support and much more.

T-Mobile’s fleet includes:

Mobile Emergency Operations Centers (EOCs): Large RVs with network management and monitoring equipmentSatCOLTs and SatCOWs: Satellite cell-on-light-trucks and satellite cell-on-wheels that teams can drive to impacted areas to temporarily restore or boost service.Heavy Duty Wi-Fi and Charging Vehicles: A fleet of trucks and towable trailers equipped with 80 charging ports that can be quickly deployed to provide Wi-Fi and device charging to anyone who needs it, even if they aren’t a T-Mobile customer.Quick-deploy and Portable VSATs: Satellite dishes called “Very Small Aperture Terminals” that can provide a layer of coverage across broad areas and quickly provide temporary wireless service to send and receive data from T-Mobile’s network.Microwave Solutions: Network technology that offers high throughput and low latency for better data usage.Portable Generators: Portable power solutions that can be quickly set up to power sites and help customers.Search and Rescue and Heavy-Duty Drones: Search-and-rescue (SAR) drones are equipped with infrared and thermal imaging cameras used to find people and objects. Heavy Lift Drones can fly for up to an hour, cover up to 60 miles and carry up to 50 pounds to provide imaging, deliver supplies or illuminate an operation.

Late last week the teams at T-Mobile and Starlink asked for and received Special Temporary Authority (STA) from the FCC to operate our T-Mobile Starlink Direct-to-Cellular service over parts of North Carolina affected by Hurricane Helene. T-Mobile and Starlink have once again asked for and received STA from the FCC to do the same for areas in Florida affected by Hurricane Milton. In these areas, Wireless Emergency Alerts (WEA) are on and the teams have enabled basic texting (SMS), including the ability to text 911. While SpaceX’s direct-to-cell constellation has not been fully deployed, this early test version could provide vital support as teams work to get infrastructure and services back online and help first responders with rescue efforts.

T-Mobile also stands ready to support cross-carrier roaming requests from other wireless providers as part of the FCC’s Mandatory Disaster Response Initiative to help ensure that emergency roaming is available.

Public Safety and First Responders

T-Mobile for Government is coordinating with federal, state and local authorities including first responder agencies and the Florida State Emergency Operations Center (SEOC) in Tallahassee to identify high-impact priorities for coverage restoration. The team is already preparing to deploy to support requests from first responders for additional network coverage and capacity once conditions safely allow.

First responders, emergency officials and other eligible critical infrastructure customers can register for Wireless Priority Service (WPS) to get priority access and preemption on T-Mobile’s network at no cost. When seconds matter during times of emergency or network congestion, WPS moves critical communications to the front of the line. Agencies needing communications assistance can also reach out to T-Mobile’s 24-hour emergency hotline at 888-639-0020 or email at ERTRequests@T-Mobile.com.

Employees, Retail Stores, and Community Support

T-Mobile has connected with all potentially impacted employees and will continue to support them as needed. With their safety in mind, the company has decided to temporarily close all retail stores that are located within Milton’s projected impact area, as well as a Customer Experience Center and T-Mobile for Business Virtual Business Center. Customer contacts will be re-routed to other locations. Future updates on local store operations and hours will be available at the company’s store locator. When it is safe to deploy, T-Mobile teams will roll relief support trucks full of charging supplies, including cables and battery packs, into communities where they are needed most. Locations may shift daily and are posted at https://www.t-mobile.com/news/emergency-response.

More Information

For more information on T-Mobile’s emergency response efforts and for tips to stay connected visit: https://www.t-mobile.com/news/emergency-response. Follow @TMobileNews on X, formerly known as Twitter, to stay up to date with the latest company news.

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About T-Mobile 
T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Mint Mobile. For more information please visit: https://www.t-mobile.com 

Media Contact 
T-Mobile US, Inc. Media Relations 
MediaRelations@t-mobile.com

Investor Relations Contact 
T-Mobile US, Inc. 
Investor.Relations@t-mobile.com 
https://investor.t-mobile.com 

Read the 2024 Wesco Sustainability Report here

Wesco Cares

Corporate giving and employee volunteerism are a part of the vibrant Wesco experience. Employees are actively engaged in local communities through fundraising, volunteering, contributing products and performing advocacy to address local needs. Many of these initiatives include strategic partnerships with global organizations such as Habitat for Humanity and the American Red Cross.

In 2022, we launched Wesco Cares, our new corporate philanthropy program focused on affordable housing and humanitarian aid. In 2023, we also added STEM education (science, technology, engineering and mathematics) as a focus for the program. In 2022, June 22 became an annual day of caring for Wesco employees globally, a day on which employees are encouraged to volunteer in their communities.

Three key areas of focus for Wesco Cares are Humanitarian Aid, Affordable Housing and STEM/STEAM.

Contributions from 2023 include:

More than $671,050 in donations toward our partnership with Habitat for Humanity to sponsor builds toward our 100 builds goal.A combined $241,720 to the American Red Cross to support relief for the earthquakes in Türkiye/Syria/ Morocco, the Hawaii Wildfires, and conflict in the Middle East.Between employee donations and company matches, we donated over $205,000 impacting 220 different charities in 2023.

Our approach to giving has three aspects: volunteer day off, matching gifts and corporate giving. Wesco launched a new corporate giving platform in June, making it easier than ever for our employees to donate and volunteer and enabling us to get a broader picture of the impact employees are making around the globe.

Sponsored Events

Earth Day Clean-Up: 
– Pittsburgh, Pennsylvania and Glenview, Illinois 

In 2023, Wesco Cares organized employee volunteer opportunities with Friends of the Riverfront (Pittsburgh, Pa.) and the Forest Preserves of Cook County (Glenview, Il.) in honor of Earth Day.

In Pittsburgh, a group of approximately 70 volunteers from Wesco, US Steel and the Pittsburgh Penguins worked on a park and trailhead location along the 40th Street Bridge in Pittsburgh, Pennsylvania. Volunteers planted native plants, weeded invasive species, mended fences, painted signs and placed new gravel on the trail. After the vegetation was cleared the team planted 26 native trees along the riverbank.

In Glenview, approximately 20 employees volunteered with the Forest Preserves of Cook County to beautify the park by picking up litter along the Des Plaines trail.

Volunteer Day Off: 

We encourage employees to volunteer in their community by providing one day of paid volunteer time off per year. By connecting with and contributing to local charitable organizations Wesco supports the development of strong, vibrant and diverse communities. In 2023, 
152 employees participated in a volunteer day off impacting 57 different charitable organizations.

Corporate Giving

Wesco Cares also supported a series of community programs through corporate giving or employee- organized efforts. A few 2023 highlights include:

Carter Work Project: Wesco sponsored the 2023 Jimmy & Rosalynn Carter Work Project with Habitat for Humanity. Over five days, future homeowners worked alongside hundreds of volunteers from around the world to build 27 single-family homes in Charlotte, NC.Habitat for Humanity: Wesco sponsored the Chicagoland Habitat for Humanity Hero Awards. The company also served as Chicagoland Habitat for Humanity’s inaugural Regional Repair program sponsor, supporting a dozen home repairs this past year. The company’s other projects with Habitat for Humanity have ranged from a community renovations project in Sao Paolo, Brazil to a roof wind mitigation project in Orlando, Florida.Boys & Girls Clubs of America: Wesco sponsored the Midwest Youth of the Year Awards, a program focused on fostering a new generation of leaders fully prepared to live and lead in a diverse, global and integrated world economy.

Wesco Cares Build-a-Thon

In 2022, Wesco launched our centennial build-a-thon 
in partnership with Habitat for Humanity. Wesco has a strong, ongoing engagement with Habitat for Humanity focused on employee volunteerism and supporting affordable housing in the communities we serve. We kicked off our centennial year with the goal of 100 builds across the globe in partnership with Habitat for Humanity. We reached our goal and celebrated while commemorating our inaugural Day of Caring.

BRG Community Engagement

Wesco’s Business Resource Groups (BRGs) have also made their mark on local communities around the world by contributing to various causes. In 2023, our BRGs donated to 18 different organizations, provided scholarships to four children of BRG members for pursuit of military service, trade school, or college and volunteered their time with additional philanthropic organizations.

To learn more, download the 2024 Wesco Sustainability Report here.

About This Report

Unless otherwise stated, this report covers activities, data and initiatives from our fiscal year 2023.

ESG Disclosure and Framework Alignment

The topics covered in this report include those that we have determined to be material for our business and stakeholders as noted on page 12. Wesco aligns with several ESG frameworks and disclosures in support of our commitment to transparency and our fulfillment of stakeholder needs and expectations. We leverage the following frameworks and standards to provide robust ESG information disclosure:

Global Reporting Initiative (GRI): GRI offers a list of global standards and guidelines around sustainability reporting.Sustainability Accounting Standards Board (SASB): SASB provides a comprehensive set of industry-specific disclosure topics and guidelines.Task Force on Climate-Related Financial Disclosures (TCFD): TCFD provides disclosure recommendations on thematic ESG topics such as governance, strategy, risk management, metrics and targets to provide stakeholders with fuller information surrounding climate risks.CDP: Formerly the Carbon Disclosure Project, CDP is an international organization that helps companies and cities measure and disclose important environmental impact information through an annual questionnaire and rating system.United Nations Global Compact (UNGC): UNGC is an initiative that aims to help businesses align their strategies and work toward the U.N.’s Sustainable Development Goals.United Nations Sustainable Development Goals (U.N. SDGs): U.N. SDGs provide a shared set of 17 toward peace and prosperity for people and planet goals and create a call to action by all countries in a global partnership.

We also regularly engage with our investors, employees, customers, regulators, ratings agencies and others on ESG and business issues. Additional information about Wesco can be found in our public financial filings—including our annual report and proxy filings—as well as on the Security and Exchange Commission’s website at www.sec.gov or on the Investors page of our website at Wesco.com.

Wesco plans to continue to report annually as we monitor, measure, and deepen our ESG initiatives and disclosures.

Wesco endorses the United Nations Sustainable Development Goals (SDGs), which are a call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity.

More information about our SDG aligned initiatives is included throughout this report.

Assurance 
We did not seek third-party assurance for this report; however, we will consider doing so for future reporting. The information and data contained in this report was vetted by internal subject matter experts on the various ESG topics included in this report.

Contact Us 
We appreciate and welcome feedback on our ESG initiatives and reporting and invite you to contact us directly via email at Sustainability@Wesco.com.

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.

View original content here.

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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