Tag: 3BL

In the ever-evolving corporate responsibility landscape, the Corporate Sustainability Reporting Directive (CSRD) represents an advantageous opportunity for businesses. Initiated by the European Union, the CSRD goes beyond mere legal compliance. The structured framework offers businesses the chance to transform their business strategy by encouraging transparency, accountability, and long-term viability. Given CSRD’s rising prominence, organizing a strong reporting strategy is essential for business to remain competitive and relevant to stakeholders.

Understanding CSRD

The CSRD builds upon the existing Non-Financial Reporting Directive (NFRD) by broadening its scope and requirements. Approximately 50,000 large listed and smaller and medium-sized enterprises fall under the scope of CSRD, which will require them to disclose detailed information on their policies, impacts, and risks to people and planet. This move is driven by the growing demand for corporate transparency from stakeholders, including investors, consumers, and regulators.

Why Businesses Should Consider CSRD

From enhanced transparency, reputational benefits, risk management, competitive advantages, to improved decision-making – there are many reasons why a business should consider complying with CSRD beyond legal obligation. By complying with CSRD, businesses openly demonstrate commitment to sustainable and ethical governance practices. That transparency builds trust with key stakeholders, such as investors and consumers. Transparency in reporting can attract investors who are increasingly prioritizing Environmental, Social, and Governance factors in their decision-making processes.

Complying with CSRD also offers the opportunity for enhanced risk management and decision-making. Given the sheer amount of data required for compliance with CSRD, the process provides valuable insights into a company’s operations. This can lead to discovering data gaps, systems opportunities, and potential risks. By analyzing the required data, businesses can identify areas for improvement and close gaps, enhancing overall efficiency. This will lead to quicker and more organized reporting for other frameworks in the future.

Best Reporting Strategies for CSRD

Thoroughly understand the CSRD requirements. Businesses should familiarize themselves with data points and the corresponding timelines.Organize a reporting and data management team that will be responsible for CSRD data gathering and management.Conduct a double materiality assessment to evaluate which CSRD data points are required. The first step of CSRD compliance is a double materiality assessment.Complete a CSRD gap assessment to assess where potential data gaps exist. Once gaps are identified, close the gaps wherever possible.Prepare the CSRD sustainability report by consolidating all the necessary data points into one, digestible format.Integrate sustainability strategy with business strategy. By aligning business strategy with CSRD, companies can ensure long-term success.

Conclusion

The CSRD is a significant step towards greater corporate accountability and transparency. By complying with CSRD, businesses gain a competitive edge, build trust with stakeholders, and set themselves up for future reporting success.

Have further questions about CSRD compliance or double materiality assessments? Connect with our team today!

We’re equipped to prepare CSRD gap assessments, roadmaps, and double materiality assessments.

As summer heats up and sports fans around the globe turn their attention to exciting events like the US Open, a new wave of technology is emerging on the court. Recent research by IBM and Morning Consult found that more than half (55%) of young tennis fans are optimistic about the positive impact of AI on sports. This growing enthusiasm highlights a key lesson for today’s students and young learners: understanding AI is becoming increasingly important as AI continues to shape the future of work and sports. At this time, embracing AI is not just an option but a necessity for the next generation and current workforce to keep advancing their careers.

Imagine a young tennis player who’s passionate about the game, but also curious about the latest tech trends, or a sports journalist responsible for commenting on the matches. In today’s AI-driven world, that’s the reality for many people, and opportunities where sports and technology intersect are becoming increasingly important. This can only be done through new more accessible content and the right partners.

AI and tennis: A dynamic duo

As said before, AI is increasingly important. An IBM study found that over half of CEOs are hiring for generative AI roles that didn’t exist last year. But the truth is that people don’t know where to start this learning journey, with 40% of students saying that the greatest barrier to learning new skills is that they don’t know where to start.

This is why we designed and launched new free IBM SkillsBuild AI content, tailored for both tennis fans and those interested in delving into tech. This content dives into the world of AI through the lens of tennis. It is a way to connect with learners that are eager to learn about AI, or looking to deepen their knowledge, with a more engaging and fun approach.

You can start with an interactive microlearning session that showcases how cutting-edge tech is transforming the game of tennis. Think electronic line calling, real-time player analytics, and enhanced highlights. If you’re ready for a more comprehensive exploration, you can also check out the “Learn AI Skills with Tennis” guidebook. This beginner-friendly resource breaks down AI concepts like data modeling, different AI types, including large language models (LLMs) like IBM Granite, and AI ethics, all while tying these topics back to the sport. Imagine learning how to convert raw match data into AI-ready formats or crafting effective prompts that make AI work as seamlessly as a well-executed serve. It’s a crafty way to understand AI while enjoying the thrill of tennis.

This is all part of what we do with IBM SkillsBuild, ensuring that our content is timely and relevant, driven by market needs to close the skills gap.

Expanding AI education through meaningful collaborations

Collaboration is key to the work we do to foster access to education and training and close the skills gap. At IBM, we are expanding AI education collaborations with governments, educational institutions, and non-profit organizations to deliver AI training to students, and adult learners, including teachers and faculty, meeting the learners where they are. Our new collaboration with the USTA Foundation is a great example of this. Their mission to bring tennis and education together to help youth from under-resourced communities become more engaged in school and learning aligns with our work to increase access to technology education.

Through IBM SkillsBuild we’re offering USTA Foundation free access to career readiness resources, benefitting around 25,000 under-resourced youth from 250 of the foundation’s chapters in under-resourced communities across the US. With a focus on emerging technologies, like AI, and professional workplace skills, IBM is offering access to a wide variety of courses such as AI fundamentals, cybersecurity, and data science, along with public speaking and resume writing. Students and teaching professionals can also earn IBM digital credentials and benefit from customized learning plans tailored to their career goals, including specialized workshops and expert guidance from IBM volunteers. This builds on IBM’s 30+ year partnership with the USTA, providing AI, cloud, and data capabilities – including our large language model called Granite – to help create more engaging experiences for millions of tennis fans.

How AI and tennis empowers future innovators and athletes

The blend of AI and tennis highlights a future where technology enhances sports and career opportunities. Our collaboration with the USTA Foundation through IBM SkillsBuild exemplifies the power of integrating AI education into various fields, such as sports, offering resources to young players and teaching professionals. By making AI accessible and engaging, we are not only preparing the next generation for future careers but also igniting their passion for both technology and sports.

At IBM, we’re committed to skilling 30 million people by 2030, including 2 million in AI by 2026. To learn more about IBM SkillsBuild visit skillsbuild.org

Learn more about IBM and USTA’s work: https://newsroom.ibm.com/2024-08-15-ibm-and-the-usta-serve-up-new-and-enhanced-generative-ai-features-for-2024-us-open-digital-platforms

Previously published by TriplePundit

By Gary E. Frank

Even after serving in the United States Marine Corps for 20 years, Nick Hamm still answers the call of duty.

The call he answers today is not to take arms, but instead to help fellow veterans readjust to civilian life after experiencing combat. Hamm founded the Warrior Built Foundation, a nonprofit based in Lake Elsinore, California, that provides combat veterans with vocational training, recreational therapy and mental health services.

“Everything we do as far as the recreational stuff, the vocational stuff, benefits these veterans in many different ways,” Hamm said. “I would say the most powerful way is the relationships they create with each other.”

The veterans who come to Warrior Built have different backgrounds and served in different branches of the armed forces, but they share similar experiences in uniform. “They’re meeting people with similar struggles, so they’re helping each other,” Hamm explained.

At the center of the organization’s mission is vocational training that exposes veterans to auto mechanics and mechanical fabrication for different types of motor vehicles. The veterans have free access to tools and equipment at Warrior Built to explore their interests and hone their skills.

“Whether it is an off-road vehicle, race car, classic car or motorcycle, we give them a chance to figure out if they want a future in the fabrication and mechanic industry or just do it as a hobby,” Hamm said.

Warrior Built’s operations depend solely on financial support from individuals, small businesses and corporations. For more than a decade, one of the nonprofit’s key supporters has been Monster Energy.

Monster Energy directly funds a facility for Warrior Built with a full-time instructor in general auto mechanics and welding, along with a gym, music room and computer room. Warrior Built also enters all-veteran teams into off-road motorsport races, the biggest of which is the Score International Baja 1000 in the Baja Peninsula of Mexico, and Monster is the race crew’s lead sponsor.

“Monster ensures that we have the financial capabilities to make sure that we’re not having to worry about paying our rent every month, that we’re not having to worry about some of the little things that normally we’d have to worry about,” Hamm said. “They allow us to focus on our mission.”

Beyond auto mechanics, Warrior Built’s recreational therapy involves engaging combat veterans in activities that boost their motivation and adrenaline, Hamm said. Along with bringing veterans together to compete in action sports, the nonprofit organizes trips to events like dirt bike races, drag racing, off-road racing and concerts.

“The main reason I chose off-road racing is because it takes a team,” Hamm said. “And obviously, in the military, we do everything in a team. Whether it’s your fire team, your squad, your platoon, your company, your battalion, it’s all a team. It’s not just one individual.”

He sees organizing off-road races as akin to a military operation because it involves planning, logistics, communications, and what he calls the “Five Ws” — who, what, where, when and why.

“We’re talking about making sure we’re loading everything up, and we’re convoying down to another country,” he explained. “We’ve got to stay together. We’ve got to look out for each other. Then during the race, everyone has a job. It’s not just the driver, co-driver or the guy riding. It’s the pit crew as well.”

Warrior Built’s biggest challenge is outreach, both for getting more combat veterans involved and in raising funds, Hamm said. 

“The charity world is very competitive, and there’s so many great charities out there helping veterans,” he told us. “I’m thankful that there’s so many great charities out there, but it also makes it challenging to compete for those donor dollars.”

Without the financial support from partners like Monster, Warrior Built could not operate at its current levels, he said.

“There’s no way we could have helped as many combat veterans as we have already, and there’s no way that we could do all these events and activities without them supporting us,” Hamm said. “Monster has helped us through in more ways than I think the public will ever know because of their genuine support for the military and their motivation to help us make a difference.”

This article series is sponsored by Monster Energy and produced by the TriplePundit editorial team. 

Owens Corning’s Toledo-based interns took part in our annual Intern Volunteer Day, giving back to our community with dedication and heart. Partnering with several local charities, they demonstrated what it means to be caring, committed, curious, and collaborative. We are proud of their efforts and the positive impact they have made!

International Olympic Committee news

The International Olympic Committee (IOC) has announced the names of the finalists for the annual IOC Climate Action Awards 2024, celebrating those within the Olympic Movement who are taking concrete measures to address climate change.

Supported by Worldwide Olympic and Paralympic Partner Deloitte, the IOC Climate Action Awards encourage, recognise and reward innovative projects from National Olympic Committees (NOCs), International Federations (IFs) and athletes aimed at reducing the environmental impact of sport, while inspiring the wider Olympic Movement to take action.

“Climate change is taking its toll on everyone, and sport is no exception,” said Marie Sallois, the IOC’s Director of Sustainability. “We all have the responsibility to reduce our impact. The IOC Climate Action Awards aim to celebrate those that are driving climate action within the wider Olympic Movement. The high number and quality of applications we have received this year illustrate the progress made in addressing climate change across the Olympic Movement.

“We are thankful to our Worldwide Olympic and Paralympic Partner Deloitte, which has offered its expertise to support the development of the programme criteria and prizes for the winners. We hope this award will continue to inspire innovation and knowledge sharing amongst the Olympic Movement and beyond.”

“The Olympic and Paralympic Games Paris 2024 are not only a demonstration of athletic excellence; they also exemplify a strong commitment to sustainability,” said Jennifer Steinmann, Deloitte Global Sustainability Leader. “Deloitte is proud to once again be the presenting partner of the IOC Climate Action Awards and advance our shared mission to accelerate sustainable sport and collective climate goals through education, innovation and technology solutions. We look forward to working with the National Olympic Committees, International Federations and athletes to support their efforts in furthering sustainable behaviour change at scale.”

This year’s finalists are: 

In the NOC category:

Comité Olímpico de Chile – for a comprehensive sustainability strategy that focuses on reducing carbon footprint, recycling waste and influencing the community, and has resulted in, for example, increasing the amount of recycled waste at the Olympic Training Centre from two tons in 2022 to 98 in 2023. The Chilean NOC is also empowering athletes to use their voice on social media, TV, radio and other channels to inspire and educate the wider community about sustainability.

Hellenic Olympic Committee – for implementing a clear carbon reduction strategy, which includes actions such as replacing the lighting system in buildings’ infrastructure, educating personnel on sustainable procurement practices and adopting a comprehensive waste management plan and green practices, resulting in a planned 24 per cent reduction in 2025 emissions compared to the 2022 footprint.

Mauritius National Committee – for developing a comprehensive carbon footprint reduction plan focusing on travel and procurement. Key initiatives include a local community-based project which has encouraged around 50,000 people to switch from plastic bottles to glass bottles in order to reduce plastic waste, and the design of a “Bio Climatic gym” that uses sustainably sourced PEFC-certified wood, 100 per cent renewable energy and natural air ventilation instead of carbon-heavy air conditioning – the first of its kind in Mauritius.

Comité Olímpico Español – for collecting 4,500kg of old sports clothing to manufacture Spanish flags needed for the Olympic Games Paris 2024, with a supporting awareness-raising campaign reaching 8.6 million people. To further reduce the use of textiles, the number of kits provided to athletes will be limited and, together with the flags, will be reused at future competitions.

Swiss Olympic – Having created a carbon reduction plan and working on minimising its own emissions, the NOC is focusing on providing funds to its national federations, their clubs and partner organisations through the “Swiss Olympic Climate Fund”, to support their carbon reduction efforts. For example, the NOC has contributed to the funding of a heat pump system for a 50-year-old swimming pool in Frauenfeld, Thurgau, which has the potential to save 500 tons of CO2 annually. The Swiss Olympic Climate Fund has also helped fund an electric bus for the Ticino Group of Blind and Visually Impaired Athletes. Moving forward, the NOC is aiming to support 100 other projects across all its member and partner organisations, leading to a long-term plan of reducing emissions across all sports within Switzerland.

In the IF category:

International Biathlon Union (IBU) – for working with TV broadcasters, in collaboration with the European Broadcasting Union, to measure their carbon footprint during the 2023/24 World Cup season and identify initiatives they can implement to reduce emissions in the future, with the aim of providing learnings for other sports. The IBU is the first Olympic IF that has looked at systematically reducing its major events’ broadcasting emissions – an area that is often deemed difficult to address.

International Canoe Federation (ICF) – for creating, with the Italian Canoe Federation, a programme called “Developing Environmental Circular Knowledge” (DECK), which identified 50 environmental management and circular economy best practices for canoe competitions, and for creating a rating tool for evaluating any type of paddling event. The focus areas include recycling and redistribution of leftover food, switching to greener mobility options like car sharing, transitioning to digital tickets to minimise the use of paper, and managing spectator movement at events to ensure the protection of biodiversity.

International Hockey Federation (FIH) – for working with the artificial turf industry to develop a new technology – Dry Turf – that reduces the amount of water needed for hockey pitches, achieving a 40 per cent reduction from London 2012 to Tokyo 2020, and an anticipated further 30 per cent reduction for Paris 2024. The aim is to replace 2,000 water-based artificial hockey pitches globally, saving approximately 7.6 billion litres of water per year. The FIH has also introduced “wet balls” that release water at the point of contact between the ball, the surface and the stick, to ensure the sport can be played at the highest level on dry turf. The project is part of the FIH’s wide-ranging sustainability strategy and a comprehensive carbon reduction plan, which includes the first-ever carbon zero artificial turf, which is currently being used at the Olympic Games Paris 2024.

World Rowing – As one of the first signatories of both the Sports for Climate Action and Sports for Nature Frameworks, World Rowing has partnered with the World Wide Fund for Nature (WWF) for many years on the conservation of water. Their latest project, “The Water Wardens”, aims to create a global movement around the need to conserve water, engaging rowers as actors of change and providing educational resources for use by organisations, clubs and schools. Activities have included Water Protection Conferences and a mobile application for the rowing community to upload data on water issues, with 145 clubs actively engaged.

World Rugby – for collaboration with its partners to develop a Carbon Emissions Reporting Tool (CERT), which enables the forecasting and measurement of emissions across events such as tournaments, meetings and events, helping overcome the lack of one-size-fits-all reporting options currently available. CERT guides rugby event organisers in identifying actions that can be taken to reduce emissions and enable knowledge sharing between World Rugby, local organising committees, national federations, suppliers and other stakeholders.

In the athlete category:

Christopher Blevins, Mountain Biking, USA – for the “Where do we land?” multimedia project that intertwines animation and spoken word poetry to delve into the urgent reality of climate change, launching in summer 2024.

Imogen Grant, Rowing, Great Britain – for helping to launch the Clean Water Sport Alliance to improve river health and water quality, as part of the UK National Training Centre sustainability group. As an ambassador for the Rivers Trust, Imogen has also spoken at a number of events across the UK to raise awareness and educate athletes on their responsibilities.

Lina Taylor, Beach Volleyball, Bulgaria – for educating professionals from government corporations and NGOs on how they can apply a sustainability lens to everything they are doing. Through her Climate Executive Coaching business, she educates leaders in these sectors to build the skills to influence and inspire climate action. In just two years, Lina has coached over 2,000 people in 30 countries and across 60 organisations. Lina is also supporting fellow athletes and NOCs, training them individually in climate solutions.

Marion Thenault, Skiing, Canada – for measuring her own carbon footprint with WSP Canada and working on standardising her travel quantification process to help other athletes to follow suit. Thenault is also working with the Le Relais Foundation to reduce the environmental impact of the Le Relais Ski Aerials World Cup in Canada by implementing projects focused on improved waste management system, sustainable procurement and optimised spectator transport.

Oliver Scholfield, Hockey, Canada – for co-founding “Racing to Zero”, a sport-focused sustainability consultancy that helps organisations to understand and mitigate their environmental impact.

The announcement of the finalists took place during the Olympic Games Paris 2024, at an event hosted by Deloitte. The names of the winners of this year’s awards will be announced during UN Climate Week, between 22 and 29 September.

For more information about the IOC Climate Action Awards, click here.

Learn more about the Worldwide Olympic and Paralympic Partner Deloitte, the supporter of the awards.

To find out more about the IOC’s work on climate, click here.

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The International Olympic Committee is a not-for-profit, civil, non-governmental, international organisation made up of volunteers which is committed to building a better world through sport. It redistributes more than 90 per cent of its income to the wider sporting movement, which means that every day the equivalent of USD 4.2 million goes to help athletes and sports organisations at all levels around the world.

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For more information, please contact the IOC Media Relations Team: 
Tel: +41 21 621 6000, email: pressoffice@olympic.org, or visit our web site at www.ioc.org.

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The IOC Newsroom: https://newsroom.olympics.com/

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To request archive photos and footage, please contact our Images team at: images@olympic.org.

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In 2023, Covia continued to use safety training and education opportunities with Team Members, contractors, and visitors to reinforce our Safety First mindset and commitments.

Covia provides employees with regular training on our safety policies and procedures, including annual emergency action drills, as well as required role- or location-specific training, to ensure a proactive approach to incident preparedness and response applicable to each Team Member.

Our Team Members completed an average of 46 hours of safety and health training in 2023, representing a 12% year-over-year increase.

We completed the following key initiatives related to safety training and education:

We refreshed our “Safety Starts With Me” training program to include updated curriculum applicable to our Team Members’ daily responsibilities and learning styles.We developed a hazard training video specific to Covia’s operations. The video aims to bring a unified approach to our hazard awareness training materials, while also incorporating site-specific safety and health risks.We held three workshops and five bootcamps to ensure a comprehensive understanding of our safety and health policies and expectations.We added a Team Member to our Safety and Health program to have a specific focus on ensuring contractor safety. Key priorities for this role include providing resources related to contractor safety, auditing significant processes to ensure compliance, and driving transparency and accountability regarding contractor safety risks and opportunities.

We continue to require any visitor to our site to complete site-specific hazard awareness training. Additionally, our independent contractors, who may be on-site for an extended period, undergo additional safety education, including safety pre-qualification and training on hazard-warning recognition.

For further information regarding Covia’s core value of Safety First and its significance in our operations, please visit CoviaCorp.com.

In this latest blog written by Adrián Branco, Senior Manager, Higg Index Brand & Retail, at Cascale, he highlights how the Higg Brand & Retail Module (Higg BRM) is making strides to support compliance with the EU’s Corporate Sustainability Reporting Directive (CSRD). He delves deeper into how Cascale is helping companies navigate the evolving regulatory landscape and drive meaningful sustainability performance, following the publication of our new white paper titled “How the Higg BRM Supports CSRD Reporting Obligations.

Read the full blog here.

August 15, 2024 /3BL/ – Setting an example for other organizations and businesses on how to embrace transparency and accountability for impacts on the economy, environment and people, GRI has published its annual sustainability report.

Produced in accordance with the GRI Standards, the 2023 Annual Report: Mainstreaming impact reporting – builds on the materiality assessment and stakeholder engagement exercise, with insights on the following six material topics:

GRI Standards developmentStandardized impact reportingDriving reporting uptakeIncreasing reporting robustnessImpacts on peopleEconomic impacts

Additionally, the yearly report sheds light on the key activities and achievements across all GRI teams and networks, with a dedicated case study for each geographic region – including the launch of the Sustainability Innovation Lab in Singapore and the Discovering GRI program in Latin America.

For the first time, the report provides details on diversity and inclusion as well as GRI’s steps towards net-zero, by disclosing calculations of the CO2 emissions from business travel and staff commuting.

Cristina Gil White, GRI’s Chief Operational Officer said:

“As the global leader for impact reporting, it is important for us to walk the talk and demonstrate to other organizations that transparency for impacts is possible. As a medium-sized and internationally operating enterprise, our own report reflects that the GRI Standards are applicable and relevant for any organization, irrespective of size, location or sector. We look forward to continuing on a path of transparency and open dialogue and applying all learnings in our next reporting cycle.”

Organizational milestones outlined in the 2023 report include:

Strong continued interest in GRI’s core product, with 846,165 downloads of the GRI Standards during the year;The launch of new Topic Standards and Sector Standards projects (for biodiversity, labor, climate change and economic impacts; and mining, financial services and textiles and apparel, respectively);Significant progress towards interoperability between the European Sustainability Reporting Standards and GRI Standards, with a renewed MoU signed with EFRAG;Over 1,500 new GRI Certified Sustainability Professionals as well as 500+ members of GRI Community

To increase transparency and ensure the high-quality and consistency of disclosed information, the report was externally assured by BDO.

Disclosures from the following Standards are applied in the 2023 report:

GRI 2: General Disclosures 2021GRI 3: Material Topics 2021GRI 201: Economic Performance 2016GRI 401: Employment 2016GRI 404: Training and Education 2016GRI 405: Diversity and Equal Opportunity 2016

The financial accounts – GRI Annual Accounts 2023 – have also been published, providing a detailed overview of the organization’s income and expenditure, grants and subsidies, and reserves and liabilities.

Global Reporting Initiative (GRI) is the independent, international organization that helps businesses and other organizations take responsibility for their impacts, by providing the global common language to report those impacts. The GRI Standards are the world’s most widely used sustainability reporting standards, which are developed through a multi-stakeholder process and provided as a free public good.

Thanks to strong relationships and a shared mission to serve the community, Regions helps an inspiring construction project get off the ground.

By Candace Higginbotham | July 11, 2024

At Regions, strong relationships are part of the core business strategy.

Sometimes those relationships can save the day – or in one case, save a $6.4 million project and the educational future of hundreds of preschool children in St. Louis.

“Regions knows us, and they understand our local community,” said Stephen Westbrooks, executive director of IFF, Southern Region. “They have the lending capability, but more importantly, because of our relationship and history, we called on them to help out in a critical situation – and they really came through.”

The bank is well known for its wide-ranging offerings of products and services delivered with innovative technology, but the person-to-person connections and day-to-day interactions are what build trust and understanding with customers, clients and communities.

One of those clients is IFF, the largest Community Development Financial Institution, or CDFI, in the Midwest serving nine states. The organization focuses on providing lending and services for human service agencies, schools, childcare providers, community health centers, housing developers, grocery stores and other community development initiatives.

Regions began a lending relationship with IFF in 2022 through the Regions Community Development Corporation® (CDC), a wholly owned subsidiary of Regions Bank that serves as a catalyst in revitalizing communities and improving lives by providing financing for projects, initiatives and organizations that serve community development purposes. This includes loans and investments for programs that are economically viable but may not qualify for conventional commercial bank underwriting.

Since then, the Regions CDC has expanded the IFF lending relationship to $10 million, which IFF has used to deploy loans to numerous organizations across multiple states. In addition, IFF and the Regions CDC have continued to expand the collaboration by referring suitable transactions between the two organizations.

The Regions CDC has expanded the IFF lending relationship to $10 million.

IFF has a longstanding relationship with Urban Sprouts Child Development Center, a well-known nonprofit in St. Louis that provides high-quality, early childhood education for low- and moderate-income families. The two organizations collaborated recently to plan and generate funding for a much-needed expansion.

“Urban Sprouts currently has a waiting list of over 400 children,” said Ellicia Lanier, CEO of the nonprofit. “This renovation will allow us to expand our licensed capacity by 52 slots. Additionally, we’ll be able to dive deeper in providing wraparound services for our families by creating a support-services space in one of our new buildings.”

IFF had worked with Urban Sprouts on their existing facility, and in 2022 began consulting with Lanier and her staff on a feasibility study and securing grant dollars to fund the expansion. Everything was going along fine; the funding was pledged, and demo was scheduled. Then Westbrooks got a dreaded phone call.

“The morning that construction was set to begin, the City of St. Louis Water Division began an infrastructure repair project adjacent to the Urban Sprouts building site,” Westbrooks said. “Their equipment was on the property, and we couldn’t begin the demo until that work was finished.”

This wasn’t just an inconvenient construction delay. The terms of Urban Sprouts’ funding agreements dictated that dollars would not become available until demo had actually begun.

“It was the worst possible timing,” Westbrooks said. “We had contractors that needed to be paid and other expenses to be met, but our funding was held up until we started construction, and that timeline was now dependent on the city’s repair work.”

Because of IFF’s existing relationship and history with Regions, Westbrooks didn’t hesitate to reach out to see if the bank could help. Eric Madkins, Regions Community Development manager based in St. Louis; Drew Gress, local Government and Institutional banker; and David Christian, chief operating officer of Regions CDC, quickly worked with other Regions executives and came up with a plan.

“We were able to secure a $100,000 line of credit for IFF and Urban Sprouts through the Regions CDC to support the renovation project until the repair work was complete, construction could begin and investment dollars started flowing,” Madkins said. “It was a small-dollar loan that made a huge impact.”

Westbrooks agreed, saying, “The Regions CDC provided a critical piece of the puzzle to get this project off the ground. Because Regions knows us and has made investments with us in the past, we didn’t have to bring them up to speed on who we are and the type of work we’re doing in the community. We didn’t have to start from square one, which saved the entire project. Speed was critical in this situation.”

“This is what relationship banking is all about, and it’s what the Regions CDC is all about,” said Christian. “I’m so pleased that we could bring these community partners and Regions teams together to find a lending solution that will benefit the children in the St. Louis community.”

Urban Sprouts is more than just a standard daycare or preschool. They follow the Reggio Emilia Approach®, an educational philosophy where children have the right and the ability to construct their own learning with the support and participation of teachers and parents.

“Through Reggio-inspired education, we cultivate a lifelong love of learning and a confident, compassionate, and curious spirit in every child we serve,” Lanier said. “This seed, this investment of love and learning, is what we believe will help each child, regardless of their identities or backgrounds, shape our collective future into something hopeful and bright as they grow into engaged citizens.”

Lanier said that economists and researchers have estimated that investing $1 in high-quality early learning programs that serve poverty- and racism-impacted children, like Urban Sprouts, has a return on investment of $7 to $12 worth of societal good.

“This is because the nutrition, skill-building, learning, creativity, and love poured into each child spreads like a golden pollen throughout their lifetime,” she said.

Lanier explained that the educational experience of these children extends to the broader community, resulting in less need for ongoing special education, welfare, and state- and federal-funded healthcare. It can also lower crime and incarceration rates.

The renovation and enhancements for Urban Sprouts that were funded and scheduled – and then jumpstarted by Regions – will provide health resources for children and families, nutrition education and support, parenting support and financial education programs.

Another addition is an innovative program that Lanier and the Urban Sprouts staff is very excited about.

“We are launching the Cafe O’ Play, which is a coffee shop that parents and community members can visit in the morning. Then, in the afternoons it transforms into an afterschool program space where the children will work with our chef to create meals for families that qualify for free and reduced lunch to be able to come and have dinner with their families at no cost.”

Madkins said that he’s proud the Regions CDC was able to move quickly to bridge a gap and fill a unique need for the St. Louis community.

“Every child deserves a high-quality education, no matter what zip code they live in,” Madkins said. “This deal highlights the many ways Regions teams can lock arms with community partners to support education and other needs in our communities.”

Originally published on rollingout on August 1st

We’re aiming high and carving out new paths to financial prosperity. This could mean finding another way to make money because working a day job still leaves us worrying about our debt. Our “side hustle” might be a catering business, lifestyle coaching services or web development.

In fact, the 2024 Northwestern Mutual Planning & Progress Study found that a striking 40% of African Americans plan to tackle an extra job/side hustle this year. If that’s you, it probably feels great to be your own boss. Then again, it can be intimidating when all the decisions are in your hands.

If you already own a small business or are ready to take your side gig to the next level, we’ve got actionable advice and insights for you.

1. Protect yourself financially. As your business gains momentum, you’ve probably got cash flow on your mind 24×7. But find time to take advantage of financial tools that can help protect you and your business. That way, you can rise above today’s money challenges and build a monetary legacy.

Thinking about everything you own for your business and in your personal life, one thing really stands out. It’s your ability to earn a living, which ranks highest when it comes to the long term. That’s because you need your income to cover all of your expenses and put money toward the future. And the bills keep coming, even if you’re unable to work due to injury or illness. A financial tool called disability income insurance can provide a critical safety net, helping you cover your expenses, maintain your lifestyle and continue building your wealth.

2. Protect your family and loved ones. When you feel young and healthy, that’s a great time to get disability insurance and permanent life insurance, too. Set things up so that your family will get a death benefit to help them keep going without you. The death benefit should go beyond burial costs and provide money so they can stay in their house and live out their dreams—like college—if you pass away earlier than expected. A life insurance payout can also be set up to help a spouse or business partner continue your side business without you.

3. Invest for your family’s future. It’s smart to save for your retirement when time is on your side, even if you have credit card loans and college debt. That’s because your money can work hard for you as the years go by.

Talk with a financial planner and consider a Simplified Employee Pension (SEP), which is a type of Individual Retirement Account (IRA). It’s easy to set up and has low administrative fees, so it’s inexpensive to maintain. Your business will not pay any taxes on the investment earnings. Contributions you make for yourself (and employees, if you have them) are tax deductible. Other choices include a Savings Incentive Match Plan for Employees (SIMPLE) IRA, a solo 401(k) or a Roth IRA—a financial planner can help figure out which type is best for you.

4. Let experts help. As your business gets more sophisticated, keep yourself open to advice. For example, a financial advisor is a great person to have as an accountability partner. They can help provide guidance while you’re young—no need to wait until you’ve “made it” to get their advice.

A Northwestern Mutual financial professional can help you feel more confident about your financial position so that you can focus on what you know best, your business. They can also help you balance your business costs and sales with your personal money.

Learn more about talking with a Northwestern Mutual expert.

Northwestern Mutual Helps Entrepreneurs
Northwestern Mutual is taking action to improve financial access and help reduce the wealth gap. 

Our Northwestern Mutual Black Founder Accelerator® invests in high-growth startups founded by entrepreneurs who have been historically underserved in accessing capital. We aim to reduce barriers to financial equity and expand financial access, providing up to 10 entrepreneurs each year with a $100,000 investment, 12-week accelerator program, a one-on-one mentor and more.In addition, our Northwestern Mutual Future Ventures has a goal of investing $20 million each in women and Black entrepreneurs. We look to engage startups whose technologies have the potential to disrupt the industry and transform the way people experience financial security.

This article is part of a paid program.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries in Milwaukee, WI. This article is not intended as legal or tax advice. Consult with a tax professional for tax advice that is specific to your situation.