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<img alt="2024 ESG Leadership Awards" data-entity-type="file" data-entity-uuid="b1f8bc90-ae26-4d3f-a41f-670add19e09e" src="/sites/default/files/inline-images/2024-ESG-Leadership-Awards_The-Conference-Board_041824.png" width="640" class="align-center" height="400" loading="lazy" />April 18, 2024 /CSRwire/ - It’s time to celebrate organizations that have moved beyond their public sustainability commitments by integrating sustainability into their business—making a positive impact on the company, stakeholders, society at large, and the environment. Join us as we honor Corning Incorporated, J.M. Huber Corporation, and Michelin North America during the <a href="https://www.conference-board.org/events/ESG-Leadership-Awards" rel="noreferrer" target="_blank">ESG Leadership Awards dinner on May 16 in New York</a>.  
By shining a light on exemplary companies, The Conference Board inspires the broader business community to follow in their footsteps. The dinner will provide support to The Conference Board’s programming and publications specifically focused on a key challenge facing corporations today: defining and determining the ROI of Sustainability ESG.  
If you are interested in learning more about sponsorship and attendance, contact Brian Teagle at <a href="mailto:bteagle@tcb.org" rel="noreferrer" target="_blank">bteagle@tcb.org</a>.  
You can read more about our impressive award recipients <a href="https://www.conference-board.org/events/ESG-Leadership-Awards" rel="noreferrer" target="_blank">here</a>.  
Accepting the award on behalf of their organizations:  
Thomas French  
Board of Directors  Corning Incorporated  
Gretchen McClain  
President &amp; CEO  J.M. Huber  
Alexis Garcin  
President &amp; CEO  Michelin North America, Inc.  Media Contact:  <a href="mailto:jdiblasi@tcb.org" target="_blank">Joe Diblasi</a>

<a href="https://www.conference-board.org/events/ESG-Leadership-Awards" target="_blank">Read More</a>

You’re Invited to the ESG Leadership Awards Dinner

<img alt="A group of children and an adult posed in front of an exhibit with sea creatures." data-entity-type="file" data-entity-uuid="a474baf7-52d1-4491-9c18-5c2ab2f88be1" src="/sites/default/files/inline-images/dropbydrop_LasVegasSands_041624.jpg" width="640" class="align-center" height="801" loading="lazy" /><a href="https://www.sands.com/news/drop-by-drop-project-partners-make-progress/" target="_blank">Las Vegas Sands</a>

In 2019, Sands and The WASH Foundation (previously the Clean the World Foundation) established the Drop by Drop Project to support innovative water stewardship projects through grants to local environmental champions in Sands’ host communities of Macao and Singapore.

Managed and operated by The WASH Foundation, the Drop by Drop Project supports initiatives that increase local water resiliency, reinvigorate ecosystems, incubate new water solutions and engage the community. Drop by Drop Project partners have reported significant progress on their identified goals for the program this past year.

Macao

The University of Saint Joseph (USJ), the Drop by Drop Project partner in Macao, has used its funding to study the role of mangroves in reducing plastic pollution in coastal wetlands, marking the university’s third year of participation in the program.

Through its latest Drop by Drop Project grant, USJ collected 100 sediment samples along coastal areas in Macao, and preliminary analysis of results show higher amounts of microplastics in the mangrove areas than areas without vegetation, indicating mangroves’ success in entrapping plastic to preserve ecology. The USJ team also measured the impact of water movement on pollution and found that mangrove forests in Macao, particularly areas with more mature trees, are able to attenuate waves.

Both outcomes demonstrate the capacity for mangrove forests to capture plastic pollution and point to the value of nature-based solutions to address environmental issues. USJ is using these results to educate and advocate for the protection of coastal wetlands through community engagement activities such as clean-up programs, native wetland vegetation plantings and educational initiatives. In addition, the university is preparing an article on its research results for peer-reviewed journals, as well as presenting at scientific conferences and meetings.

USJ also invested some of its Drop by Drop Project resources into awareness activities and engaged approximately 40,000 students and community members, including Sands China Team Members, in an array of initiatives. Activities included conducting public lectures about plastic pollution, holding a mangrove planting event in collaboration with the Macao government and creating a mobile exhibit for school visits.

Last June, Sands China hosted USJ’s Sea of Plastic exhibit, which featured installations made from recycled plastic, at The Venetian Macao. Created mostly by local students and artists, art pieces included sculptures of marine and coastal organisms with scientific display boards to provide essential information on the harmful effects of plastic pollution in the oceans.
<img alt="A group of people cleaning a beach." data-entity-type="file" data-entity-uuid="511c1e16-f9bf-4f3e-b016-643b560ab5ef" src="/sites/default/files/inline-images/beachclean_lasvegassands_041624.jpg" width="640" class="align-center" height="900" loading="lazy" />Singapore

Conservation International, an organization that supports research, education and awareness about the need to responsibly and sustainably care for natural resources, has been a Drop by Drop Project partner for the past two years. The international nonprofit organization is using its grant funding to advance its Singapore priority on educating youth about the importance of sustainability and empowering them to be advocates for environmental responsibility.

Conservation International used its Drop by Drop Project grant to propel two key programs. First, the grant has enabled the organization to continue its five-part Ocean Conservation Virtual Learning Series, which features educational videos, interactive activities and informational guides to promote ocean conservation literacy and environmental advocacy among youth leaders.

Conservation International also took a big step forward with its advocacy work in Singapore by implementing the inaugural 10 for Zero award program, which identified and empowered 10 Singapore youth leaders who are advocating for a future of net zero carbon emissions and zero waste.

With Drop by Drop Project funding, Conservation International built the award program’s infrastructure and identified the first 10 for Zero recipients, who were honored in a ceremony at Marina Bay Sands last May. Awardees are now working with the nonprofit to curate their experience in the program and will participate in local and international environmental research, climate summits and workshops through December 2024. Conservation International also will connect award recipients to an exclusive network of global conservation experts for mentorship and coaching.

“The Drop by Drop Project is fueling significant contributions to promote sustainability and raise awareness of these organizations’ important work, which has a multiplier effect as more people become educated about environmental issues,” Manohar Shenoy, executive director of The WASH Foundation, said. “Our partnership with Sands as the funder of these leading organizations and their critical priorities has injected resources into Macao and Singapore to propel critical advancements in protecting their local habitats and natural ecology.”

Sands’ support for the Drop by Drop Project is part of the Sands ECO360 global sustainability program, which guides Sands’ work to minimize environmental impact and promote sustainable practices in regions around the world.

To learn more about the Drop by Drop Project, visit: <a href="http://cleantheworldfoundation.org/dropbydrop" target="_blank">cleantheworldfoundation.org/dropbydrop</a>. To learn more about Sands ECO360, read the company’s latest ESG report: <a href="https://www.sands.com/resources/reports/" target="_blank">https://www.sands.com/resources/reports/</a>

Drop by Drop Project Partners Make Progress in Advancing Environmental Sustainability Through Grants From Sands

Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill + Bar®, IHOP®, and Fuzzy’s Taco Shop® restaurants, released its 2023 ESG report which speaks to priorities and progress within the focus areas of People, Planet, Food, and Governance. 
“Dine Better, Together is how we describe our intention to combine business growth and competitive strength with our ESG commitments,” says John Peyton, CEO of Dine Brands. “At Dine we remain motivated to provide more than an exceptional dining experience, and we recognize the opportunities to make meaningful impact in the communities that we serve.” 
The 2023 Dine Better, Together report highlights include the following:

<ul><li>Achieved the Great Place to Work Certification™ for the second consecutive year.</li>
	<li>13.6 metric tons of food donated by Dine’s Glendale and Pasadena Restaurant Support Center as well as Applebee's and IHOP U.S. Franchisees and their Distribution Centers.</li>
	<li>$1.7 million raised by Applebee's U.S. franchisees to support Alex's Lemonade Stand Foundation.</li>
	<li>$708,471 raised by IHOP Puerto Rico and Mexico franchisees as of 2023 to support children's charities.</li>
	<li>$627,000 raised by Fuzzy’s since 2014 for No Kid Hungry.</li>
	<li>565,362 free meals served to U.S. active-duty military and veterans on Veterans Day at Applebee's and IHOP.</li>
	<li>100% Expanded Polystyrene (EPS) free achieved at Applebee’s and IHOP, one year ahead of goal.</li>
	<li>11 million Applebee’s gift cards transitioned from plastic to paper stock, certified by the Forest Stewardship Council (FSC).</li>
	<li>48 million pieces of IHOP to-go packaging transitioned away from carbon black pigment, which prevented the containers from being recycled.</li>
	<li>35.2% of eggs for U.S. restaurants were cage-free, exceeding the 33% target set for 2023. The company is on track to achieve 100% cage-free eggs in the U.S. by the end of 2025.</li>
</ul> 
The report showcases Dine’s momentum in operating with ESG at the core, driven by our strong partnership with team members, franchisees and their restaurant employees, suppliers, and communities. This year’s publication highlights Dine’s progress and emphasizes the integration of these efforts in alignment with our business operations. 
For more information on the 2023 Dine Better, Together report, please visit <a href="https://www.dinebrands.com/en/social-good" target="_blank">https://www.dinebrands.com/en/social-good</a>. About Dine Brands Global, Inc. 
Based in Pasadena, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries and franchisees, supports and operates restaurants under the Applebee's Neighborhood Grill + Bar®, IHOP®, and Fuzzy’s Taco Shop® brands. As of December 31, 2023, these three brands consisted of over 3,500 restaurants across 18 international markets. Dine Brands is one of the largest full-service restaurant companies in the world and in 2022 expanded into the Fast Casual segment. For more information on Dine Brands, visit the Company’s website located at <a href="https://www.dinebrands.com/" target="_blank">www.dinebrands.com</a>.

###

Media Contact: 
Lauren Costabile 
Dine Brands Communications <a href="mailto:MediaInquiries@dinebrands.com" target="_blank">MediaInquiries@dinebrands.com</a>

Dine Brands Releases 2023 Environmental, Social, and Governance (ESG) Report

<img alt="SR23 Report cover collage" data-entity-type="file" data-entity-uuid="cdfc7ad2-92ea-4b40-89fa-c771e308cb03" src="/sites/default/files/inline-images/SR23-report-alert-visual-final.png" width="640" class="align-center" height="1584" loading="lazy" />At Merck KGaA, Darmstadt, Germany, we are committed to tackling some of the most critical global challenges facing us today. Our efforts to create a fairer, healthier and more sustainable world center around three main goals: achieving human progress for more than one billion people through sustainable science and technology, fully integrating sustainability into our value chains, and becoming climate neutral while reducing resource consumption. Our <a href="https://www.emdgroup.com/en/sustainability-report/2023/" target="_blank">2023 Sustainability Report</a> details our encouraging progress toward meeting these goals. Our ongoing commitments to climate and environmental action 
In 2023, we continued on our path toward achieving <a href="https://www.emdgroup.com/en/sustainability-report/2023/environment/climate-action.html" target="_blank">climate-neutral operations</a> across our value chain by 2040. We decreased our direct and indirect emissions across scopes 1 and 2 by 17% compared to the previous year. At the same time, we increased the global share of electricity we procured from renewable sources to over 50%, progressing toward our target of 80% by 2030. The Virtual Power Purchase Agreements (VPPAs) we have in place mean that by 2025, renewable energy certificates will cover 100% of our electricity purchases in Europe, 90% in North America and 70% in all other regions. 
In addition, we enhanced our <a href="https://www.emdgroup.com/en/sustainability-report/2023/strategy-management.html" target="_blank">sustainability strategy</a> by intensifying our focus on biodiversity and a circular economy. For example, we conducted comprehensive biodiversity impact assessments for our sites, which will provide a baseline for further quantitative analysis. These efforts help us to more effectively prioritize future biodiversity initiatives and restore our natural environment. As part of working toward a circular economy, we have set a new target of achieving a 70% circularity rate across our entire Group by 2030. Diversity, equity and inclusion – empowering women in management positions 
We remain committed to fostering <a href="https://www.emdgroup.com/en/sustainability-report/2023/employees/diversity-equity-inclusion.html" target="_blank">diversity and equity</a> and creating a genuinely inclusive culture for all employees. We reinforced this commitment with our goal to achieve gender parity in management positions globally by 2030. In this year’s report, we are pleased to announce we increased the share of women in management roles to an all-time high of 39%. Sustainability in our supply chains – driving change across the industry 
We are continually working to make our <a href="https://www.emdgroup.com/en/sustainability-report/2023/business-ethics/suppliers/supply-chain-management.html" target="_blank">value chains</a> more sustainable. One of the key first steps has been gaining a better understanding of our global supplier network. Two-thirds of our suppliers now have a valid sustainability assessment, a significant improvement compared to 46% the previous year. Additionally, in 2023, we began including primary greenhouse gas emission data from service providers (scope 3.1) in our calculations. We also continuously strive to create more sustainable innovations and technologies for our customers. For example, in our Life Science business sector, we grew our Greener Alternative Products portfolio to 2,500 products in 2023, a 34% increase from the previous year. Access to medicines – continuing the fight against schistosomiasis 
For the last 15 years, we have been on a dedicated mission to eliminate the neglected tropical disease <a href="https://www.emdgroup.com/en/sustainability-report/2023/products/health-for-all/global-health.html" target="_blank">schistosomiasis</a>. In 2023, we donated over two billion Praziquantel tablets and supported various programs that combat this dangerous parasitic illness in Sub-Saharan Africa and other tropical areas. In addition, we treated 84 million patients and secured approval for an innovative pediatric treatment designed for young children aged three months to six years. Thanks to these milestones and our ongoing collaboration with strong, long-term partners, we are steadily progressing toward eliminating schistosomiasis as a public health concern by 2030. Sharing sustainability insights 
Transparently communicating our sustainability efforts helps to maintain the trust of our patients, customers, partners, employees and suppliers. Therefore, our 2023 Sustainability Report provides an interactive experience using a variety of digital formats. In <a href="https://www.emdgroup.com/en/sustainability-report/2023/stories.html" target="_blank">a unique story section</a> of the report, we highlight a broad range of hands-on topics and projects on issues such as Green Chemistry, digital ethics in AI, sustainability in R&amp;D and access to health, illustrating our commitment to sustainable progress. 
We prepared our 2023 Sustainability Report in accordance with the 2021 GRI Standards. The report also reflects the requirements of the <a href="https://www.emdgroup.com/en/sustainability-report/2023/facts-figures/sasb-index.html" target="_blank">SASB standards</a> and the Task Force on Climate-related Financial Disclosures (<a href="https://www.emdgroup.com/en/sustainability-report/2023/facts-figures/tcfd-index.html" target="_blank">TCFD</a>). Our <a href="https://www.emdgroup.com/en/annualreport/2023/management-report/non-financial-statement.html" target="_blank">non-financial statement</a>, in accordance with the German Commercial Code (HGB) and applicable <a href="https://www.emdgroup.com/en/annualreport/2023/management-report/non-financial-statement/further-topics/reporting-in-accordance-with-the-eu-taxonomy-regulation.html" target="_blank">EU Taxonomy Regulation disclosures</a>, forms part of our 2023 Annual Report. About Merck KGaA, Darmstadt, Germany 
Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across life science, healthcare and electronics. Around 63,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2023, Merck KGaA, Darmstadt, Germany, generated sales of € 21 billion in 65 countries. 
The company holds the global rights to the name and trademark “Merck” internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany, operate as MilliporeSigma in life science, EMD Serono in healthcare and EMD Electronics in electronics. Since its founding in 1668, scientific exploration and responsible entrepreneurship have been key to the company’s technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company. Social Media: 
Facebook: <a href="https://www.facebook.com/emdgroup" target="_blank">https://www.facebook.com/emdgroup</a> 
Twitter: <a href="https://twitter.com/EMDGroup" target="_blank">https://twitter.com/EMDGroup</a> 
LinkedIn: <a href="https://www.linkedin.com/company/emd-affiliates-of-merck-kgaa-darmstadt-germany" target="_blank">https://www.linkedin.com/company/emd-affiliates-of-merck-kgaa-darmstadt-germany</a> 
YouTube: <a href="https://www.youtube.com/c/MerckKGaADarmstadtGermany" target="_blank">https://www.youtube.com/c/MerckKGaADarmstadtGermany</a> Media Contact Info: <a href="mailto:judith.rahner@merckgroup.com" target="_blank">Judith Rahner</a>: 
+49 6151 72 7694 <a href="mailto:timo.breiner@merckgroup.com" target="_blank">Timo Breiner</a>: 
+49 151 1454 2512

<a href="https://www.emdgroup.com/en/sustainability-report/2023/" rel=" noopener" target="_blank">Read More</a>

Harnessing Science and Technology for a Fairer, Healthier and More Sustainable World

<img alt="Woman in a glass window putting up an Open, Come in sign." data-entity-type="file" data-entity-uuid="781f5d7f-4eb1-46c7-80c7-222f53893250" src="/sites/default/files/inline-images/Microbusiness-Resource-Contraints_GoDaddy_3.27.24A.jpg" width="640" class="align-center" height="630" loading="lazy" /><a href="https://www.godaddy.com/ventureforward/microbusinesses-drive-job-creation-reduce-unemployment/" target="_blank">As originally published by GoDaddy’s Venture Forward Research Initiative</a>

Since 2020, GoDaddy Venture Forward findings have consistently proven that microbusiness entrepreneurship makes an outsized impact on the economy, promoting job creation, boosting annual household median income growth and driving down unemployment. Every year, when the U.S. Census releases its most recent data, GoDaddy Venture Forward runs new analyses to capture the latest economic impacts.

Venture Forward is a research initiative that GoDaddy launched in 2018 to quantify the presence and impact of online microbusinesses on their local economies, providing a unique view into the attitudes, demographics and needs of these entrepreneurs.

This year, in partnership with UCLA Anderson Forecast economists led by William Yu, we’ve uncovered the following impacts made by microbusinesses (those having 10 or fewer employees, a domain and an active website).

<ul><li>At the county-level, every additional microbusiness entrepreneur adds about seven jobs, which has continued to grow based on data through 2023. 
	 </li>
	<li>Analysis of data from 2018 to 2022 found the effect of microbusiness entrepreneurship to be two or more new jobs for every additional entrepreneur, and from 2020 to 2022, about six new jobs. 
	 </li>
	<li>Adding 1,000 new microbusiness entrepreneurs in a county is associated with a drop of 0.11 percentage points in the unemployment rate. 
	 </li>
	<li>This means that studying Miami-Dade County in Florida, with almost 430,000 microbusinesses and 2.1 million people over the age of 18, adding just 1,000 entrepreneurs would reduce the region’s unemployment rate by almost 7% (from 1.6% to 1.49%).</li>
</ul><img alt="Chart showing impacts on a county level." data-entity-type="file" data-entity-uuid="4d4ac4c7-aac3-4b10-b7f4-77e4be53048a" src="/sites/default/files/inline-images/Microbusinesses-Have-Major-Impact_GoDaddy_3.29.24B_0.png" width="640" class="align-center" height="673" loading="lazy" />Our research shows that entrepreneurship has only continued to grow in importance – from acting as a backstop during economic downturns like the pandemic, to being a catalyst for greater prosperity in current times, and the historically low unemployment rates we’re experiencing.

“We’ve learned that online businesses with 10 or fewer employees are creating more jobs than before – up to seven jobs for every one entrepreneur, compared to only two just a few years ago,” said Alexandra Rosen, senior director of Venture Forward. “Our findings show how even the smallest of businesses can significantly drive down unemployment rates in communities across the country.”

For more information about the state of microbusinesses across the country, visit the Venture Forward <a href="https://www.godaddy.com/ventureforward/microbusiness-datahub/" rel="noreferrer noopener" target="_blank">Microbusiness Data Hub</a>.
<img alt="Chart showing real world examples of economic Impacts." data-entity-type="file" data-entity-uuid="6304c6f4-f909-4bc1-8c21-3e9fca58bc4c" src="/sites/default/files/inline-images/Economic-Impact_GoDaddy_3.29.24A_0.png" width="640" class="align-center" height="396" loading="lazy" />About GoDaddy Venture Forward

GoDaddy’s Venture Forward research initiative analyzes more than 20 million online businesses with a digital presence (measured by a unique domain and an active website). Most of these businesses employ fewer than ten people, categorizing each as a microbusiness. While these microbusinesses may be small, their impact on economies is outsized even though they are often too informal or too new to show up in traditional government statistics. 

Since 2018, Venture Forward surveyed more than 36,000 small business owners with a digital presence, making it the source for microbusiness data and insights.

New Results: Microbusinesses Drive Job Creation, Reduce Unemployment

IBM announced the release of its 2023 IBM Impact report. The report summarizes the company’s ESG initiatives, partnerships and investments in 2023, making a lasting positive impact. 
Over the last year, the world experienced widespread adoption of AI and other emerging technologies. IBMers have leveraged these technologies, creating new ways to address rising ethical challenges, empowering communities with skills, and protecting our environment while supporting our clients. 
A few highlights from the 2023 IBM Impact report include:

<ul><li>Released watsonx.governance, a component of watsonx designed to accelerate responsible, transparent and explainable AI workflows, and leading the creation of the AI Alliance, an open community to accelerate responsible AI innovation.</li>
	<li>Trained more than 600 suppliers in technology ethics, which is on track to meet our commitment to train 1,000 technology suppliers in technology ethics by 2025.</li>
	<li>Engaged over 11 million learners with free IBM training content through our combined education initiatives since 2021, which is on track to meet our commitment to skill 30 million people by 2030.</li>
	<li>Invested over $100 million towards apprenticeships and new-collar programs, since 2022.</li>
	<li>Reduced operational greenhouse gas emissions by 68.5% against base year 2010, ahead of our goal of 2025 and on track to meet our operational net zero emissions goal by 2030.</li>
	<li>Completed, since 2021, 2,130 energy conservation projects, avoiding an estimated 256,000 MWh of energy consumption.</li>
</ul>“At IBM, we believe that technology is a catalyst to unlock new and more powerful ways to make a positive impact. Innovation can address evolving demands and create a better future as new ethical, societal, and environmental challenges arise,” said Justina Nixon-Saintil, Vice President and Chief Impact Officer, IBM. “We continue to focus on making a lasting impact by using the power of technology, such as AI.” 
IBM leverages its resources and expertise to live its purpose of being a catalyst that makes the world work better. We have a long-standing commitment to trust, transparency, responsibility, and service, in which technology and innovation play a critical role in taking our positive impact further. 
The IBM Impact Report 2023 report can be accessed <a href="https://www.ibm.com/impact/2023-ibm-impact-report" target="_blank">here</a>. Media Contact: <a href="mailto:Carmenssg@ibm.com" target="_blank">Carmen San Segundo</a> 
Global Marketing and Communications Director for ESG and CSR at IBM

IBM Releases 2023 IBM Impact Report

<img alt="A photo of a mine " data-entity-type="file" data-entity-uuid="7cb3d1ee-bf6f-4983-aada-3d504fc8b1af" src="/sites/default/files/inline-images/Mine_AllianceBernstein_041124.jpg" width="640" class="align-center" height="570" loading="lazy" /><a href="https://www.alliancebernstein.com/corporate/en/bio.saskia-chick.html" target="_blank">Saskia Kort-Chick</a>| Director of Social Research and Engagement—Responsibility

<a href="https://www.alliancebernstein.com/corporate/en/bio.markus-schneider.html" target="_blank">Markus Schneider</a>| Senior Economist—EEMEA

<blockquote>
Understanding the social risks posed by climate transition requires discipline, nuance and a systematic approach.
</blockquote>

The concept of a “just transition” has gained ground among responsible investors concerned about the economic consequences of the social risks that countries face in moving from fossil fuels to alternative energy sources. These risks are particularly high in emerging markets (EMs). How can investors systematically measure them?

Put simply, a just transition entails transitioning from fossil fuels in a way that is mindful of the economic impacts and not disruptive of the social fabric of economies.

The consequences of a mismanaged transition may be significant in coal- or oil-exporting countries, especially those with relatively undiversified economies. As demand for these commodities declines, such countries may face more significant transition risks. Governments may face fiscal and debt challenges that pressure their sovereign credit ratings. Worse, economic privation and civil unrest may lead to political instability and even regime change.

In developing a systematic approach to assessing these risks, it helps to focus on the sector at the center of most transition strategies: energy production, particularly coal (the most carbon-intensive fossil fuel). This has the added advantage that coal transitions already under way—such as those of Germany, Poland, the UK and the US—provide policy lessons and examples of pitfalls to avoid. These can be a useful lens through which to analyze how EMs are managing their just transitions.

Policy Lessons: Learning from Experience

Policy lessons show, for example, that a holistic and integrated government planning process is necessary, focusing on workers’ welfare, economic diversification, and social and environmental preservation. Without the help and commitment of national and local governments, a just transition is unlikely to succeed.

Planning is essential, but the reality is that macroeconomic preconditions such as existing levels of industrialization and access to infrastructure matter hugely in government efforts to diversify coal regions. Also, prevailing labor market protection and social security networks are crucial in protecting workers during their transition into alternative employment. In that context, the locations of coal mines are important too, as diversification in very remote areas (where many EM mines are situated) is difficult.
<img alt="&quot;Country Exposures to Coal Transition Risks: A Heat Map&quot; infographic " data-entity-type="file" data-entity-uuid="078986e4-2ae8-4d7d-a65c-126867c4f71e" src="/sites/default/files/inline-images/Heat-map_AllianceBernstein_041124.png" width="640" class="align-center" height="947" loading="lazy" />Relative Transition Risks and Specific Vulnerabilities

Informed by past policy lessons, we created a Just Transition Index (JTI) that scores countries across a range of key indicators. The scores are intended to capture a country’s overall level of macroeconomic development and the locations of its mines, the make-up of its labor and energy markets, government policy commitment to a just transition, and the ability to finance it.

Some indicators are relatively easy to measure quantitatively (such as a country’s level of development, exposure of its labor market to coal, and government budget capacity), while others (for example, coal mine locations and government commitment to reform) are harder to quantify.

For this reason, we opted for a qualitative index to score each country from –2 to 2, where the lowest numbers represent the most risk (Display). The JTI provides a guide not only to countries’ overall relative risk (contained in their score averages) but also specific vulnerabilities (individual factor scores).

But the value to investors of such an approach lies not only in its systematic aspects. The underlying qualitative research is critical for understanding the nuances of transition risk.

Preconditions Are a Key Variable

As noted earlier, EMs are particularly exposed. For example, EM labor rights and opportunities tend to be less extensive than those in developed countries. In India, Indonesia and China, coal production is located far from urban centers, limiting the scope for easing coal-dependent populations into alternative employment without the cost and disruption of relocation.

Poland illustrates this well. The country began its transition away from coal more than 30 years ago. Though the transition hasn’t been seamless, it has worked well in one major respect: many of <a href="https://euracoal.eu/library/archive/poland-6/" target="_blank">Poland’s coal mining areas</a> are <a href="https://www.obserwatorfinansowy.pl/wp-content/uploads/2020/01/Poland-automotive-industry-PAIZ-kwadrat-1.jpg" target="_blank">co-located with key industries</a>, such as automobile manufacturers and information and communications technology service providers.

The situation is different in Indonesia. Coal production there is <a href="https://globalenergymonitor.org/projects/global-coal-mine-tracker/tracker-map/" target="_blank">heavily concentrated in Kalimantan and South Sumatra</a> and accounts for 35% of East Kalimantan’s GDP. These areas are remote from the islands of Java and Bali, which together account for 60% of both Indonesia’s population and its GDP. But this challenge may be mitigated by plans to relocate Indonesia’s capital city—currently Jakarta, on the northwest coast of Java—to East Kalimantan.

A Practical and Potentially Rewarding Approach

Other policy lessons reflected by these examples are that stakeholders’ expectations should be managed (as Poland shows, transition can take decades) and strategies should be holistic, not piecemeal. (In Poland’s case, funding and other assistance from the European Union helped to coordinate mining-sector restructuring with the creation of new jobs.)

Just transition is a huge, complex and long-term challenge, in emerging markets and elsewhere. A systematic approach backed by solid fundamental qualitative research offers investors a practical and potentially rewarding way of engaging with it.

The authors would like to thank Roxanne Low, ESG Analyst with AB’s Responsible Investing team, and Kristian Tonev, Fixed Income Associate, for their research contributions.

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 change over time.

Learn more about AB’s approach to responsibility <a href="https://www.alliancebernstein.com/corporate/en/corporate-responsibility.html?syn:pan-emea:brand:3bl:eu942" target="_blank">here</a>.

Understanding the social risks posed by climate transition requires discipline, nuance and a systematic approach.

AB: Just Transition and Emerging Markets: Weighing the Risks

<img alt="A green shipping container turned mobile science lab features three young scientists and text reading, &quot;Breakthroughs Begin With Curiosity.&quot;" data-entity-type="file" data-entity-uuid="a4205853-9efc-4ba4-b1ac-fd1ded67fa3d" src="/sites/default/files/inline-images/NA%20Faces%20of%20the%20Cube_Final.jpg" width="640" class="align-center" height="743" loading="lazy" /><ul><li>Curiosity Cube mobile science lab plans to reach 45,000 students in 14 countries</li>
	<li>Lessons educate students on sustainability topics, such as renewable energy and recycled materials</li>
	<li>Reinforces company commitment to increase equity in STEM education; addresses growing need for students to pursue STEM careers</li>
</ul>BURLINGTON, Mass., April 18, 2024 /CSRwire/ - MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, a leading science and technology company, officially kicked off its global 2024 Curiosity Cube tour today in Darmstadt, Germany. The solar-powered shipping containers turned mobile science labs are once again visiting communities across North America and Europe. MilliporeSigma’s goal is to engage 45,000 students to increase access to hands-on STEM education for students through interactive science experiences.

“Recent data shows students between 8 and 13 years old are interested in science and math, with most calling these subjects fun and exciting. Yet, this interest and enthusiasm is not translating into students pursuing STEM careers, as they find it hard to see themselves as scientists,” said Tim Jaeger, Chief Strategy and Transformation Officer for the Life Science business sector of Merck KGaA, Darmstadt, Germany. “Our Curiosity Cube encourages children’s scientific curiosity with hands-on experiments showcasing real-world applications. Students also meet our employees, who can be role models for the incredible range of STEM careers that are possible.”

For the 2024 tour, the Curiosity Cube is sporting a new look, displaying photos of young scientists who are children of MilliporeSigma employees. These employees work in a range of roles at the company from project management and human resources to manufacturing and supply chain. This helps illustrate the numerous career options available in STEM.

The hands-on experiments are led by local MilliporeSigma employees at each stop who guide lessons focused on sustainability using the lifecycle of a t-shirt as an example. Students will:

<ul><li>Learn about synthetic and natural fibers, examining them through microscopes and categorizing them based on their level of sustainability.</li>
	<li>Design and test a windmill that produces enough renewable energy to power a model t-shirt factory.</li>
	<li>Use a threading machine to learn how old clothing can be sorted, shredded into fibers, and re-spun into thread for new garments.</li>
</ul>In North America, the Curiosity Cube already embarked on its sixth tour, with 137 events across the U.S. and Canada, including Austin, Boston, Cleveland, Houston, Kansas City, Milwaukee, Seattle, St. Louis, Toronto, and more.

Embarking on its third tour of Europe, the Curiosity Cube will host 150 events. Stops include communities across Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Liechtenstein, the Netherlands, Spain, Switzerland and the U.K. MilliporeSigma also operates stationary Curiosity Cubes at its sites in St. Louis, USA and Darmstadt, Germany. This underscores the company’s commitment to the communities where many of its employees live and work.

To learn more about the Curiosity Cube mobile science lab and view the 2024 tour schedule, visit <a href="https://thecuriositycube.com/" target="_blank">TheCuriosityCube.com</a> and follow the Curiosity Cube on Instagram @curiositycube_milliporesigma.

About the Life Science business of Merck KGaA, Darmstadt, Germany

The Life Science business of Merck KGaA, Darmstadt, Germany, which operates as MilliporeSigma in the U.S. and Canada, has more than 28,000 employees and more than 55 total manufacturing and testing sites worldwide, with a portfolio of more than 300,000 products focused on scientific discovery, biomanufacturing and testing services. Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across healthcare, life science and electronics.

Around 63,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2023, Merck KGaA, Darmstadt, Germany, generated sales of € 21 billion in 65 countries.

The company holds the global rights to the name and trademark “Merck” internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany, operate as MilliporeSigma in life science, EMD Serono in healthcare and EMD Electronics in electronics. Since its founding in 1668, scientific exploration and responsible entrepreneurship have been key to the company’s technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company. For more information about Merck KGaA, Darmstadt, Germany, visit <a href="http://www.emdgroup.com/" target="_blank">www.emdgroup.com</a>.

Follow MilliporeSigma on <a href="https://twitter.com/MilliporeSigma" target="_blank">Twitter</a> @MilliporeSigma, on <a href="https://facebook.com/MilliporeSigma" target="_blank">Facebook</a> @MilliporeSigma and on <a href="https://www.linkedin.com/company/milliporesigma" target="_blank">LinkedIn</a>.

All Merck KGaA, Darmstadt, Germany news releases are distributed by email at the same time they become available on the EMD Group website. In case you are a resident of the U.S. or Canada please go to <a href="http://www.emdgroup.com/subscribe" target="_blank">www.emdgroup.com/subscribe</a> to register again for your online subscription of this service as our newly introduced geo-targeting requires new links in the email. You may later change your selection or discontinue this service.

MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, a leading science and technology company, officially kicked off its global 2024 Curiosity Cube tour today in Darmstadt, Germany.

MilliporeSigma Inspires Students To Explore STEM Careers With 2024 Curiosity Cube Tour

<figure role="group" class="align-center"><img alt="&quot; &quot;" data-entity-type="file" data-entity-uuid="bfc13480-8ac2-4cf2-952d-ab3af87fa597" src="/sites/default/files/inline-images/Amapola%20Market_U.S.%20Bank_4.16.24A.jpg" width="640" height="675" loading="lazy" /><figcaption>Rolando Pozos with some of the house-made tortillas at the Amapola Market in Downey, California.</figcaption></figure><a href="https://www.usbank.com/about-us-bank/company-blog/article-library/owner-of-popular-socal-latin-food-chain-drives-growth-eyes-national-expansion.html" target="_blank">Originally published on U.S. Bank company blog</a>

For two decades, Rolando Pozos worked as an investment banker specializing in advising companies on mergers and acquisitions. Then he made an acquisition of his own.

It started with a meeting, arranged by a mutual friend, with the owner of Amapola Deli &amp; Market, a chain of three Los Angeles-area stores specializing in Latin American food products, who was looking to develop a succession plan.

“He reached out to me for some friendly advice, knowing I was a Latino investment banker who spoke Spanish,” Pozos said.

Pozos was a loyal customer of Amapola, which opened its first location in 1961, and as he learned more about the business, he became increasingly intrigued and eventually decided he could be the ideal successor.

“I realized it would be a great place for me to start all over again as an entrepreneur and follow a new career path,” Pozos said. “It was something that happened very organically. I wasn’t looking to be in this industry.”

As the new owner of Amapola and a U.S. Bank client, Pozos, who was born and raised in Monterrey, Mexico, brought an extensive background in business, having earned an MBA at the University of Southern California before going into banking. He also brought a love of Mexican food, including the homemade tamales, stew and soups his grandmother prepared when he was young.

“We grew up getting together as a family and celebrating with food,” he said.

Pozos has continued that celebration with his wife, Megan, and two young children.

“We are learning how to make tamales as a family,” Pozos said. “It helps our kids stay away from their iPads on Sunday afternoons, and through Amapola Market, we are teaching our kids how to experience and pass on traditions.”

Amapola Markets, a U.S. Bank client, have meat markets, bakeries and service delis, make fresh tortillas and specialize in corn products made without genetically modified ingredients. The markets, according to Pozos, are the region’s largest producer of fresh masa, a ground corn-based dough used for making tortillas, tamales, tostadas and other Latin American dishes.

“During the holiday season, in particular, we sell millions of pounds of masa,” Pozos said. “It’s so important for us to continue to provide the very best of our Latin food heritage to our customers.”

When Pozos acquired the company, he resolved to continue making the company’s products in the traditional way of cooking, grinding and working with corn, but also saw opportunities to expand the offerings.

Under his leadership, the company has expanded its product line to include natural juices, salsas, desserts, dry chilies and other Latin food essentials. He has increased the number of Amapola employees from 250 to 300 and said he has been boosting food production by about 10% a year.

The biggest strategic move, Pozos said, has been further increasing production volumes to sell products through other stores, with Amapola-branded products now being sold by nearly 150 retailers across Los Angeles.

“We can reach more customers and communities at a faster pace if we do it through other retailers,” he said. “We prefer to do what we do best, which is to produce our food, and then we’ll have other people make it available in places across Los Angeles, California and the West Coast.”

In light of these changes, Pozos was named a Greater Los Angeles Entrepreneur of the Year 2023 by Ernst &amp; Young.

Pozos said his goal is to make Amapola a national brand enjoyed regularly by people of all ethnic backgrounds. He plans to open production facilities beyond California, and he’s working to strengthen his supply chain.

U.S. Bank provides Amapola Market credit, treasury management and financial advisory services.

“U.S. Bank is a very important partner for our company,” Pozos said. “They help us manage our day-to-day cash flow needs. They also understand our growth plans and are consulting with us on how we can inject capital into the business to grow our manufacturing footprint in other states.”

For two decades, Rolando Pozos worked as an investment banker specializing in advising companies on mergers and acquisitions. Then he made an acquisition of his own.

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