Peggy's Blog

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10/05/21Plastic flows into the ocean are expected to triple by 2040—unless we do something about it and take immediate action. SABIC and Microsoft are an example of two companies coming together to do something big for our environment.
The two companies recently collaborated to create Microsoft’s first consumer electronic product—The Microsoft Ocean Plastic Mouse—with an exterior shell containing 20% recycled ocean plastic.

Ocean plastic is defined as plastic that has been certified by a third party as recovered from any ocean or ocean-feeding waterways or where it washed ashore from these locations. Ocean plastic differs from ocean-bound plastic in that ocean-bound plastic is recovered from ocean-feeding waterways, shorelines, and inland areas within a 50-kilometer radius of the ocean. The two recycled products play complementary roles in helping address the issue of ocean plastic waste.

Take a look at how this collaboration between SABIC and Microsoft unfolded. Microsoft began this project with an objective of creating a plastic resin made from at least 10% recycled ocean plastic as part of its commitment to achieve zero waste by 2030. After hearing the initial vision for the project, SABIC joined the effort to source the recycled material and to formulate a resin that satisfied Microsoft’s demanding quality standards. The Microsoft design team collaborated with technologists at SABIC to provide feedback on prototypes made with the new resin. This effort resulted in several rounds of reformulation prior to arriving at a final version that exceeded Microsoft’s initial 10% goal. Pretty cool, right?

This builds on what SABIC is already doing with ocean-bound plastics. SABIC’s TRUCIRCLE portfolio spans a range of products and services, including design for recyclability, mechanically recycled products, certified circular products from feedstock recycling of used plastic, certified renewables products from bio-based feedstock, and closed-loop initiatives to recycle plastic back into high quality applications and help prevent valuable used plastics from becoming waste.

The collaboration between SABIC and Microsoft aims to have SABIC provide a new XENOY resin for Microsoft product use that is comprised of 20% ocean plastic, as part of SABIC’S TRUCIRCLE portfolio and services. 

This new XENOY resin with recycled ocean plastic can help reduce plastic waste in the ocean. For example, based on a resin grade comprised of 20% recycled content, for every 1kT of product containing recycled ocean-plastic XENOY PC/PET compound, an equivalent of 24 million single-use 0.5liter PET water bottles is removed from the ocean, ocean-feeding waterways, or ocean-adjacent shores.

While collaboration is a good step, it is certainly not enough to reverse the tides already in motion with our plastics. Still, this partnership is proof that companies coming together can make a difference. What I like here is this project provides a blueprint to demonstrate to the broader industry that recycling and reusing valuable plastic resins that have been recovered from the ocean,

ocean-feeding waterways, or where they have been washed ashore from these locations is achievable when value chain partners use their knowledge and expertise and work together. We need louder voices that really care about all the damage that has been created. The real question now becomes who will actively do something about it to make a real difference at all levels?

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09/21/21 One place we can become more sustainable and circular is in our own homes. According to the U.S. EPA (Environmental Protection Agency), ENERGY STAR certified homes provide homebuyers with significant value through added comfort and increased savings, and contribute to a better, healthier world. As such many homebuilders—and homeowners—are more often turning to sustainably designed homes.

Consider this example: KB Home. The homebuilder has built nearly 650,000 quality homes in its more than 60-year history. Today, KB Home operates in 45 markets from coast to coast. What sets KB Home apart is the exceptional personalization it offers its homebuyers—from those buying their first home to experienced buyers—allowing them to make their home uniquely their own.

This is where ENERGY STAR comes into play. ENERGY STAR is the government-backed symbol for energy efficiency, and thousands of industrial, commercial, utility, state, and location organizations—including nearly 40% of the Fortune 500—partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health.

Since 1992, ENERGY STAR and its partners have helped American families and businesses save 5 trillion kilowatt-hours of electricity, avoid more than $450 billion in energy costs, and achieve 4 billion metric tons of greenhouse gas reductions. 

Throughout the lifetime of the program, every dollar EPA has spent on ENERGY STAR resulted in $350 in energy cost savings for American business and households. In 2019 alone, ENERGY STAR and its partners helped Americans save nearly 500 billion kilowatt-hours of electricity and avoid $39 billion in energy costs.

An energy-efficient KB home helps lower the cost of ownership and is designed to be healthier, more comfortable, and better for the environment than new homes without certification.The homebuilder goes beyond EPA requirements by ensuring that every ENERGY STAR certified KB home has been tested and verified by a third-party inspector to meet EPA’s strict certification standards. ENERGY STAR certified homes are, on average, up to 20% more efficient than homes built to code, help lower the cost of ownership and are designed to be healthier, more comfortable and better for the environment than homes without certification.

KB Home estimates that its sustainably designed homes have cumulatively reduced energy utility bills for its homeowners by $800 million. Additionally, to date, these KB homes have reduced CO2 emissions by an estimated cumulative 5.6 billion pounds, the equivalent of removing 557,000 cars from the road for one year. Talk about making an impact on our environment.

I suspect all of this is much easier said than done. Even so, our future needs to be sustainable for the next generations. Stay tuned. I am certain we will have more to share in the coming months. https://www.amazon.com/SUSTAINABLE-CIRCULAR-WORLD-ECOSYSTEM-INNOVATION/dp/1637605692 

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09/14/21 

Those of you who have been following me for a while know I like it when we can turn trash into treasure. Years ago, I talked about how we can use cigarette butts to make asphalt roads. Flash forward to today, and we can look at how to turn a pile of seaweed into a cardboard box.

Sustainable paper and packaging company DS Smithis exploring if seaweed fibers can be used as a raw material in paper and packaging products, as an alternative fiber source to wood. With the lumber market finally stabilizing, after yo-yoing for quite some time, alternative options could be welcomed across many industries. 

After initial testing, the company is also researching seaweed’s potential role as a barrier coating, replacing problem plastics and petroleum-based packaging used to protect many foodstuffs. Now, DS Smith has announced it is talking to several biotechnology companies to explore the potential use of eco-friendly seaweed fibers in a range of packaging products, such as cartons, paper wraps, and cardboard trays.
The company says some of the strengths of seaweed include strength, resilience, 

recyclable properties, scalability, and cost. It can also be recycled and biodegradable. 

Further, the production process is less energy intensive, with fewer chemicals used to extract the fibers.

This isn’t the only company to explore using seaweed in manufacturing either. The European seaweed industry alone is predicted to be worth almost $11 billion by 2030, generating 115,000 jobs.

DS Smith’s seaweed project is just the beginning of the company’s more than $140 million, five-year circular economy research and development program announced earlier this year. The circular economy is a key component to the company’s Now and Next strategy, focusing on closing the loop through better design, protecting natural resources by making the most of every fiber, and reducing waste and pollution through circular solutions. By 2023, DS Smith will manufacture 100% reusable or recyclable packaging and its aim is that by then, all of its packaging will be recycled or reused.

Other research will include potential uses of natural fibers, such as straw, hemp, miscanthus, and cotton. Also being tested are more unusual sources, including the daisy-flowered cup plant and agricultural waste like cocoa shells or bagasse, which is the pulp fiber left over after sugarcane is processed.

The work being done here is designed in part to boost research into alternative fibers and to reduce and eliminate waste—something all companies should strive for in today’s world. 

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09/07/21 

Many companies are making the move to a more circular economy within their businesses—and some are even taking that approach to the products and technologies they provide. Consider the example of Stratasysand its new Stratasys Sustainability function. 

A provider of 3D printing solutions and a player in the additive manufacturing space, Stratasys has a commitment to a circular economy, climate action, and social impact—and is now committed to leading 3D printing with an ESG-focused offering. Let’s explore both what it is doing in its business and what it is doing with its technology.

For the company itself, Stratasys identified four U.N. SDGs (Sustainable Development Goals) as the cornerstones of its purpose-driven sustainability efforts including: responsible consumption and production; industry, innovation, and infrastructure; climate action; and quality education.
In addition to this focus in its business, 

Stratasys’ products and technology also lend a hand in moving to a more circular economy. Additive manufacturing can be a more efficient production method, alongside a growing use of recycled and renewable materials. Stratasys is committed to innovation in reduced waste, reused materials, and recycled packaging.

Additionally, Stratasys intends additive manufacturing to benefit people worldwide, enabling designers, engineers, and manufacturers with local, on-demand capabilities that empower companies and organizations of all sizes to improve quality of life everywhere.

To advance its commitment to sustainability, Stratasys joined the Additive Manufacturer Green Trade Assn. as a Founding Member. The global trade organization launched in November 2019 and has a mission to commission research that highlights the sustainable uses of additive manufacturing.

While this is simply one example, the concerns related to climate change rage on worldwide, and 3D printing in general can serve as one solution to produce less waste, reduce a carbon footprint, and ultimately move to a more circular economy. 

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 08/31/21

For many companies, sustainable development is a key component of company culture and ESG (environmental, social, and governance) targets. Consider the example of FinVolution Group, which recently released its 2020 ESG report.

FinVolution Group has developed innovative technologies and has accumulated experience in the core areas of credit risk assessment, fraud detection, big data, and AI (artificial intelligence). The company’s platform, powered by proprietary technologies, features a highly automated loan transaction process, which enables a better user experience.

The company’s ESG report has been prepared in compliance with the core option of the Global Reporting Initiative’s Sustainability Reporting Standards, and in accordance with MSCI ESG Rating Methodology. It narrows in on: ESG management, comprehensive risk management, information security and privacy protection, responsible operations, access to finance, employee care and training and development mechanisms, and contribution to industry development.ESG regulatory requirements present organizations with both risks and opportunities, according to a Gartner survey of 153 senior executives in the second quarter of 2021.

Investor pressure related to ESG disclosures is not a new concern for executives, but established regulatory frameworks are only just beginning to become effective in some jurisdictions, according to Gartner. The U.K, requires companies to report on climate change, with the EU adopting a universal classification system. Major Australian banks and insurers are publishing a climate change reporting framework as well.

The Gartner survey show ESG regulatory requirements landed in the second position of the Emerging Risks Monitor Report in the second quarter of 2021—after cybersecurity control failures. ESG did not previously register in the top five risks in the first quarter of 2021, which still mostly reflected pandemic-related concerns. 

What businesses need to consider here is while ESG regulatory requirements present a challenge to executives and their organizations this year, there are still opportunities as well. Gartner recommends proactive organizations and their ERM (enterprise risk management) teams turn this area of risk into an organizational opportunity—and I concur. The senior executives polled in the latest survey agreed with this sentiment also, ranking ESG regulatory risk as the second most viable risk to be seen as an opportunity, behind DEI (diversity, equity, and inclusion) 

responsiveness, a risk that contributes to an organization’s overall ESG posture. It’s time to move that intangible thinking and prioritize and adapt emerging risks related to ESG. Regulations governing climate change are forcing investors to seek out opportunities and to avoid the risks. The real question will be how quickly companies adjust and recognize the challenges and opportunities that lie ahead?

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08/24/21

Are we taking big enough steps to meet ESG (environmental, social, and governance) targets? We are more often finding that business success directly correlates to how we treat our clients, customers, and the environment—and many companies are demonstrating how to take steps in the right direction.

Consider the example of Montrose Environmental Group, which is an environmental services company that is focused on supporting commercial and government organizations. The company recently released its inaugural ESG report, which marks the beginning of the company’s ESG journey.

The company says it is an important milestone demonstrating Montrose’s efforts to serve its clients, employees, communities, and stakeholders—and that it remains committed to advancing and reporting on the progress of its ESG priorities.

Montrose’s ESG framework relied on aspects of the SASB (Sustainability Accounting Standards Board), the TCFD (Task Force on Climate-related Financial Disclosures), and the UN SDGs (United Nations Sustainable Development Goals). Specifically, Montrose has aligned with six of the 17 UN SDGs focused on: Clean Water and Sanitation, Climate Action, Good Health and Well-Being, Decent Work and Economic Growth, Reduced Inequalities, and Industry, Innovation, and Infrastructure.

Here is a closer look at some of the ESG priorities at the company: professional integrity, health and safety, talent development, diversity, fairness, and inclusion, environmental impact for clients, environmental impact of operations, cybersecurity and data privacy, and corporate governance. 

Let’s dig into what it is doing specifically in terms of the environment. In order to ensure availability and sustainable management of water and sanitation, the company has deployed innovation in low carbon intensity remediation of contaminants in water; treated more than 2 billion liters of water; and addressed roughly 200 emergency responses in 2020 in onshore, over water, or offshore conditions.

When it comes to combating climate change, Montrose has detected 901,541 metric tons of carbon dioxide equivalent methane leaks in 2020 and launched a carbon footprint analysis in 2019, which will continue in the future.

Here’s what I like. The company has developed a platform to detect and triangulate hazardous air pollutants and GHG (greenhouse gases) to facilitate rapid interventions for the benefit of public health. This is just a sampling of what this company is doing for the environment.What if we could do more? What if our businesses stepped up and created innovation and technology that could dramatically change our footprint? We are beginning to see this happen, but I always wonder if there is more to be done.

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08/17/21

The hospitality space is one that has a big focus on ESG (environmental, social, and governance) and DEI (diversity, equity, and inclusion). Now, one company is addressing the challenges faced by colleagues, guests, owners, and communities, all while enacting meaningful change within this industry.

Hyatt recently launched World of Care, which builds on the company’s more than 60 years of efforts to care for the planet, people, and responsible business. This platform will enable the company to share workforce diversity data, roll out new, global human trafficking training, and elevate wellbeing for colleagues through a wellness assessment. 

Looking at the first point, Hyatt has built on its existing practice of tying annual incentive planning to diversity, equity, and inclusion progress and has linked executive stock compensation via its Performance Share Unit Plan to progress on the topic. Hyatt’s Performance Share Unit Plan is a key component of the executive team and group president’s compensation.

To address that second point, Hyatt rolled out a comprehensive human trafficking training in 2021 ensuring that it is mandatory for all global colleagues. The training empowers members at all levels and functions of Hyatt’s global workforce to be vigilant for signs of human trafficking and taking swift action to report and abate it.

Finally, Hyatt emphasizes holistic wellbeing for its colleagues, guests, owners, and communities. In June, Hyatt hosted its first Global Wellbeing Week to inspire and advance wellbeing among global colleagues. Hyatt’s Global Wellbeing Week provided engaging activities focused on emotional, mental, and physical wellbeing to encourage colleagues understand and prioritize self-care.

All in all, the business is positioned to care for people and the planet. Under its 2020 environmental framework, Hyatt achieved its 25% per square meter greenhouse gas reduction goals early across its three regions. What’s more, Hyatt’s new environmental framework is focused on climate change and water conservation, waste, and circularity, responsible sourcing, and thriving destinations. By focusing on these impact areas, the new framework is designed to foster collective action across departments, business vendors, and suppliers, and beyond.

Looking to the future, as part of this framework, Hyatt is in the process of setting a 2030 science-based target to significantly reduce the greenhouse gas emissions from Hyatt hotels. Additionally, Hyatt and its hotels are contributing toward the target of the UN Sustainable Development Goals by working toward a 50% global reduction per square meter in food waste sent to landfill or incineration by 2030 compared to a 2019 baseline.

Hyatt’s ESG Committee sets the strategy across the organization to advance World of Care. Hyatt’s efforts to advance socially and environmentally conscious business practices will help ensure current and future generations can live healthier and better lives.

While this is one example, many in the hospitality space are moving toward more sustainability and ESG targets. Time will tell how goals such as these will accelerate progress in renewable energy and decarbonization goals. Will it be enough? Let’s continue to track the progress through 2030 to see what type of difference we can ultimately make for our planet and if we can make our world an eco-friendly environment.

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08/10/21

 One company is taking a unique approach to ESG (environmental, social, and governance). In its inaugural report, it is focusing as much on advancing ESG within its own company as it is on empowering its global community of customers to deliver ESG impact through BSM (business spend management).

Coupa Software’s platform aims to help organizations increase the impact of their spend across their business and the broader community. Now, new innovations within its sustainable BSM offering helps maximize business and ESG impact through their spend. As part of this offering, the Coupa Inclusion Initiative enables companies to find, select, and direct spend to hundreds of thousands of diverse and inclusive suppliers. Sounds interesting, right?

Its core values and general philosophy that none of us is as smart as all of us is a foundational element of the company’s approach to ESG, as well as its community of customers, which together can deliver exponential economic, social, and environmental impact. Through Coupa’s Sustainable Business Spend Management offering, the BSM community can take immediate action to incorporate ESG considerations across its business and spend activities.

In addition to helping its community of customers achieve ESG, Coupa has a few unique approaches of its own. Consider what the company is doing with environmental. As part of its sustainable procurement program, the company formalized its Supplier Code of Conduct, communicating expectations for suppliers to respect people, uphold human rights, protect the environment, and act ethically. Also, being the inaugural year, Coupa began measuring its carbon footprint as a starting point to inform a carbon neutral strategy going forward.

When it comes to social, the company is cultivating a collaborative, diverse, and inclusive culture. As the company continues to advance its DEI (diversity, equity, and inclusion) efforts and strengthen its pipeline of talent, it launched two employee resource groups: Engage, which stands to uplift and expand underrepresented communities, and Illuminate, to support the LGBTQ+ and ally community. In 2020, Coupa also made nearly $600,000 in charitable donations and $75,000 in educational scholarships to students in need through the Coupa Cares program.With governance, Coupa is committed to reducing risks in global supply chains through risk management, data privacy and security, and ethical conduct. 

The company also achieved FedRAMP (Federal Risk and Authorization Management Program) Ready status after a third-party data security and risk review. With the appointment of an additional woman to the Board of Directors, women now make up approximately 30% of the company's Board.

In the past year, the company itself has made big progress, but it’s the intent to empower its customers that helps it stand out. Now, let’s see if the ripple effects it intends to create have lasting effects. And as we have seen only time will tell if the world embraces all the efforts being put forth.

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08/03/21

ESG (environmental, social, and governance) has deep roots in the financial services market, as investors are increasingly applying these metrics to part of their analysis. Research has shown that portfolios that leverage ESG and sustainability initiatives often perform better. Let’s look at an example.

T. Rowe Price Grouprecently published its 2020 Sustainability Report titled A Resolve to Reach Higher. The global investment management organization has increased transparency and accountability and has developed plans for new environmental targets. 

The 2020 Sustainability Report is anchored in two frameworks designed to provide a set of ESG disclosures: The SASB (Sustainability Accounting Standards Board) and the TCFD (Taskforce on Climate-Related Financial Disclosures). This is the second year the firm is following SASB standards for the asset management and custody activities industry and is the first it is leveraging TCFD recommendations.

Here is a closer look at its report. The company has served 26,000 hours, with more than 365 associates serving on nonprofit boards. Additionally, the company has given $6.9 million in matching gifts and $11.6 million total given by the T. Rowe Price Foundation, with $5.5 million in direct grants.

When looking specifically at sustainability, from 2010-2019 this organization has decreased its waste by 93%, increased recycling by 76%, and decreased its greenhouse gas emissions per associate by 49.9%. In the same timeframe, it has increased its associate population by 70.6% and increased office space by 6.6%. Here is what is really impressive: T. Rowe Price Group has increased its energy recovery by 724% from 2010-2019, with 42% of its real estate being environmentally certified.

The ultimate hope is the company can bring positive change by investing in sustainable practices, investing in associates’ passions, and investing in communities.

Perhaps the timing is right. A 2020 report from ISS Governance shows that there is in fact a link between ESG and financial performance. But also, it is the next right step for our environment to ensure it is taken care of for future generations. Let’s hope we continue this forward progress for years to come.

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07/27/21

Addressing sustainability in our supply chain could be the key to moving toward a more sustainable world. The outcome could be an improved environmental impact for all, as well as improved productivity and cost savings, ultimately leading to better stability of the supply chain. I would call that a win-win-win-win.

Consider the example of J.B. Hunt Transport Services, which provides supply-chain solutions using an integrated, multimodal approach and technology-driven methods. The company’s services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more.

J.B. Hunt recently detailed its progress in its 2020 Sustainability Report, with a big focus on that fleet. By developing and implementing new technologies that complement its commitment to creating an efficient transportation network in North America, the company has been able to make big strides in this particular area.

The numbers are impressive too. J.B. Hunt has avoided an estimated 3.5 million metric tons of CO2 emissions by converting over-the-road loads to intermodal. Additionally, it has helped company drivers avoid an estimated 4.3 million empty miles with J.B. Hunt 360, which is the company’s multimodal digital freight marketplace. 

The company is also completing its first delivery using a heavy-duty class 8 electric vehicle and has celebrated the first five-million-mile safe driver in company history—all this while preserving through the pandemic.

Prepared in accordance with the TCFD (Taskforce on Climate-related Financial Disclosures), GRI (Global Reporting Initiative), and SASB (Sustainability Accounting Standards Board) frameworks, the 2020 Sustainability Report details the company’s commitment to employees, customers, shareholders, vendors and suppliers, and the communities it serves.

The benefits here go beyond just “green.” A sustainability improvement in the supply change can help increase the efficiency of buildings, vehicles, and machines—as we are seeing is the case with J.B. Hunt. Perhaps others in this space might consider how technology can help speed our supply chain to greater efficiencies and sustainability.

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07/20/21  Today, employees are taking notice of which companies are providing a safe working environment and are contributing to a greener globe. As company after company releases 2020 CSR (corporate sustainability reports), many employees are taking notice of how businesses progressed on sustainability goals in one of the most challenging years in recent history.

Consider the example of The CSL Group, which is an owner and operator of self-unloading ships. With headquarters in Montreal, CSL delivers millions of tons of cargo annually for customers in construction, steel, energy, and agri-food sectors. The company has long had its sights set on sustainability and the wellbeing of its people.
Now in its eighth year, the CSL Corporate Sustainability Report covers CSL’s contribution toward its targets of zero harm to people, planet, and property and its alignment with the United Nations Sustainable Development Goals. 

Performance results are disclosed in a new ESG (environmental, social, and governance) scorecard against the SASB (Sustainability Accounting Standards Board) Marine Transportation Industry Standard.
In a year that was challenging for most, this company kept its sights set on sustainability. For instance, biodiesel blends were tested on the main engines of two ships leading to a successful test of fuel containing 100% bio content.

But, perhaps, more important is its focus on its employees during a time when safety and efficiency were paramount. Last year, regional CSL COVID-19 committees were created to support seafarers and ensure safe and efficient vessel operations throughout the pandemic. The results were impressive. The company saw a dramatic improvement in safety performance, with a decrease of 31% in the lost-time injury frequency rate and 37% in the total recordable case frequency rate. This all comes on top of being named one of Montreal’s top employers in 2020.

The company also continued its focus on innovation during one of the tumultuous years in history. CSL partnered with Windsor Salt to build a new state-of-the-art 26,000 DWT self-unloading ship, as well as delivered three vessels according to customer specifications and progressed on four newbuild and conversion projects. The company also completed its first retrofit of a ballast water treatment system completed on a Great Lakes self-unloading ship.

All this to say the company was focused on sustainability, its people, and its product. Can we continue to sustain this type of effort—for our people and our planet? Let’s hope so.

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 07/12/21 These days, companies are committed to ESG (environmental, social, and governance) goals and creating an inclusive and diverse culture. Such is the case with Arconic Corp., which is a provider of aluminum sheet, plate and extrusions, as well as innovative architectural products for ground transportation, aerospace, building and construction, industrial, and packaging markets. 

The company’s priorities include the health and safety of employees, the environment, and communities, as well as social equity and corporate ethics. Ultimately, this will help deliver sustainable value to stakeholders. Let’s take a closer look at how it is doing this.
In terms of safety, Arconic’s total recordable incident rate was 0.95 and decreased by 23% compared to 2019. Also, days away, restricted, and transfer rate decreased by 3.5% compared to 2019.

When looking at environmental, the company decreased GHG (greenhouse gas) emissions by 13.8% compared to 2019 and energy consumption decreased by 11.9%. Meanwhile, freshwater withdrawal decreased by 8% compared to 2019 and landfilled waste decreased by 6.5%. Finally, Arconic added two more ASI certifications for operations located in Köfém, Hungary, and Bohai, China.

Finally, when it comes to inclusion, diversity, and social equity, the company granted $7.1 million to nonprofit and community organizations and achieved a perfect score of 100 in the Human Rights Campaign Foundation’s Corporate Equality Index. What’s more, 37.5% of global executives are female and 21.2% of U.S. employees and 20.2% of U.S. executives identify as members of minority groups.

We are making progress, but is it fast enough? What else can we do to improve environmental, social, and governance in our businesses? How can we help our companies move to the next era of work?

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