Duke Energy

Gilead Sciences

Mondelez International

People Behind the Power: What To Know About the Remarkable Role of Duke Energy Lineworkers

Forbes Has Listed Gilead as One of America’s Best Employers for Diversity

Mondelēz International’s Near-Term 2030 Targets and 2050 Net-Zero Targets Validated by Science Based Targets Initiative

CSAA Insurance Group, a AAA insurer, today released its <a href="https://csaa-insurance.aaa.com/impact" target="_blank">2023 Impact Report</a>, assessing its collective progress toward its goals for planet, people and practice and highlighting its accomplishments in these areas.

“We recognize that addressing one audience or one area in isolation may not lead to our desired outcomes,” said Mike Zukerman, CSAA’s interim president and chief executive officer. “That’s why we’ve started to employ a broader lens – total social impact – when looking at our imprint on our planet, our people, and the communities we serve as we progress on our journey in these spaces.”

Key highlights from the 2023 Impact Report include the following:

50% reduction of greenhouse gas emissions

The company’s goal of a 50% reduction of greenhouse gas emissions by 2025 was achieved in 2023 – two years ahead of plan. (Note: Inclusive of Scopes 1, 2 and 3, inclusive of business travel, employee commute, work-from-home energy, and paper emissions, vs. 2016 baseline.)

Improved CDP score

For the second year, CSAA voluntarily submitted its climate journey, including its emission inventories, to the CDP (formerly the Carbon Disclosure Project), a not-for-profit charity that runs a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. CSAA scored a B for 2023, a significant improvement from its 2022 score of a C. This milestone will help the company propel its work forward and better understand its strengths and opportunities.

$25M investment in California Wildfire Innovation Fund

CSAA committed to investing $25M in the California Wildfire Innovation Fund. The company partnered with Blue Forest Asset Management, a conservation finance non-profit focused on forest restoration, to create the fund with the goal of helping protect the environment, its customers and communities. Part of the investment has been allocated to impactful projects that are helping to reduce wildfire risk while providing job opportunities in rural communities.

Go Green Benefit program

In 2023, CSAA developed the Go Green Benefit program for launch in 2024. This decarbonization strategy offers employees financial incentives to purchase green electricity for home offices, supports employees with solar energy and encourages climate-friendly commuting for in-office employees.

Milestone in representation of women

In 2023, CSAA accomplished an important milestone – representation of women at the supervisor, manager and executive levels (combined) achieved parity with the U.S. labor force. The only level below parity is the executive group, at 46%.

Climate Resiliency Challenge

In 2023, CSAA – along with design firm IDEO and professional services firm Aon, among others – launched the global Climate Resiliency Challenge. The Challenge sought solutions to help frontline communities prevent, prepare for and recover from climate-related disasters, such as wildfires, floods and extreme weather. The 2023 Impact Report features six case studies celebrating some of the Challenge winners and how their big ideas have leaned into innovation to support their communities.

“We engage in partnerships to enable this work because we know that partnering for change makes change far more likely to occur,” said Zukerman. “We believe that our impact strategy facilitates an empowered workforce and trust in our company, all of which are integral to the sustainable growth and profitability of our organization.”

For more information, access the full <a href="https://csaa-insurance.aaa.com/impact" target="_blank">2023 Impact Report</a>.

About CSAA Insurance Group

CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners and other personal lines of insurance to AAA Members through AAA clubs in 23 states and the District of Columbia. Founded in 1914, the company has been rated “A” or better by AM Best for more than 90 years and is one of the top personal lines property casualty insurance groups in the United States, according to the National Association of Insurance Commissioners. The company has been repeatedly named one of the 50 most community-minded companies in America by Points of Light. More information is available at <a href="http://csaa-insurance.aaa.com/" target="_blank">http://csaa-insurance.aaa.com</a> and on social media (<a href="https://www.facebook.com/CSAAInsuranceGp" target="_blank">Facebook</a>, <a href="https://www.linkedin.com/company/csaa-insurance-group/?viewAsMember=true" target="_blank">LinkedIn</a>, <a href="https://www.instagram.com/csaainsurancegroup/" target="_blank">Instagram</a>, <a href="https://www.tiktok.com/@csaainsurancegroup?is_from_webapp=1&amp;sender_device=pc" target="_blank">Tik Tok</a>, <a href="https://www.threads.net/@csaainsurancegroup" target="_blank">Threads</a> and <a href="https://www.youtube.com/@csaainsurancegroup" target="_blank">YouTube</a>). External Affairs <a href="mailto:pr@csaa.com" target="_blank" title="mailto:pr@csaa.com">pr@csaa.com</a>

CSAA Insurance Group Releases Impact Report Detailing Its Significant Initiatives and Contributions in 2023

Bloomberg published its <a href="https://www.bloomberg.com/company/values/sustainability/?utm_medium=sustainability_&amp;utm_content=site-partner&amp;utm_source=OOH&amp;utm_campaign=MKTG_sustainability_GLOBAL_USA_2024&amp;tactic=848851#impact-report" target="_blank">2023 Impact Report</a>, which outlines how the company continues to address climate change through its operations, philanthropy and collaborations with partners and industry peers. The report also details how Bloomberg integrates sustainable business practices into its operations and decision-making and how it helps to drive progress in the communities where employees and clients live and work.

The report highlights Bloomberg’s latest ESG datasets, tools and research, including products that help firms assess risks and opportunities as the world transitions to a net-zero emissions economy and meet new climate-related regulatory requirements. Bloomberg also outlines its progress toward reaching its validated science-based net-zero emission reduction target by 2040, including the recent signing of an 80 MW Power Purchase Agreement (PPA) for renewable energy.

“We’re working to increase access to data and information that helps investors and policymakers make informed decisions that both grow the economy and help catalyze investment in a clean energy future.” said Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies. “And, through our support of industry initiatives such as the Glasgow Financial Alliance for Net Zero, we advanced our work providing resources to financial firms to help them measure and manage emissions across their portfolios.”

Read the full letter <a href="https://assets.bbhub.io/company/sites/51/2024/04/Bloomberg-Impact-Report-2023.pdf#page=3" target="_blank">here</a>.

A selection of highlights from the 2023 Impact Report include:

Environmental Impact 

Reducing emissions in line with a 1.5°C future

<ul><li>Received validation from the Science Based Targets initiative (SBTi) for Bloomberg’s long-term science-based net-zero target to reach net-zero greenhouse gas emissions across our value chain by 2040</li>
	<li>Progressed toward our SBTi-validated near-term science-based carbon emissions reduction targets with 21% Scope 1 and 2 reductions and 27% Scope 3 reductions</li>
	<li>Obtained 62.2% of Bloomberg’s global electricity consumption from renewable sources</li>
	<li>Signed an 80 MW Power Purchase Agreement (PPA)—our largest PPA to date—with clean energy developer Ørsted</li>
</ul>Supporting coherent, impactful climate action

<ul><li>Introduced new indices within the Bloomberg Climate Index family including the new Bloomberg Commodity Carbon-Tilted Index</li>
	<li>Released new Bloomberg Terminal tools for analyzing physical risk and net-zero transition risk</li>
	<li>Launched new Bloomberg Terminal data and analytical tools to provide a comprehensive view of the nature-related impacts and dependencies in investment portfolios</li>
	<li>Enhanced our solutions for disclosure, reporting and analysis against key regulatory frameworks</li>
	<li>Published more than 2,500 research publications on the global low carbon transition and commodity markets</li>
</ul>Social Impact 

Investing in an increasingly diverse workforce

<ul><li>Invested in our leaders, helping them build the skills needed to elevate and model inclusive leadership with the launch of three new inclusive leadership initiatives</li>
	<li>Established a task force to respond to the challenges and needs of our colleagues with disabilities</li>
	<li>Collaborated with more than 20 external organizations, including forming new partnerships to help us identify and hire candidates from underrepresented communities</li>
	<li>Launched the Bloomberg Veterans Impact Program, which seeks to improve how we recruit, retain and advance veterans’ careers at Bloomberg</li>
	<li>Launched a comprehensive women's health program in the UK to normalize women's health in the workplace, break stigma and offer ongoing support</li>
</ul>Driving Social Change

<ul><li>Launched a first-of-its-kind data tool to assess the potential impact of a company’s business on any of the United Nations’ 17 Sustainable Development Goals (SDGs)</li>
	<li>Over 19,000 employees volunteered in their communities</li>
	<li>Delivered over 2.8 million meals and over 79,000 care kits to those in need</li>
	<li>Expanded cross-regional programs to demystify financial services and encourage women and under-represented communities to consider careers in finance</li>
	<li>Helped bridge the digital divide through mentoring interactions and by promoting employee-driven funding for open-source software</li>
	<li>Promoted diverse voices in media and the arts through diversifying our news sources and extending programs to strengthen financial journalism</li>
</ul>The Impact Report is third-party verified, and has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) standards specific to our industries and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), and it incorporates select content from CDP. The 2023 Impact Report and supplemental reports can be viewed and downloaded at <a href="https://www.bloomberg.com/company/values/sustainability/#impact-report" target="_blank">www.bloomberg.com/impact</a>.

About Bloomberg 
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit <a href="http://www.bloomberg.com/company" target="_blank">Bloomberg.com/company</a> or <a href="http://www.bloomberg.com/professional/request-demo/?utm_source=bbg-pr&amp;bbgsum=dg-ws-core-pr" target="_blank">request a demo</a>.

Media Contact <a href="mailto:ttrippett@bloomberg.net" target="_blank">Ty Trippet</a> 
+ 1 212-617-2443

Bloomberg Publishes 2023 Impact Report Highlighting Its Work To Reach Its Net-Zero Emissions Reduction Target and To Accelerate Climate Action

<img alt="A person leaning against agricultural machinery " data-entity-type="file" data-entity-uuid="a60bf3e3-5650-42fc-8ef3-a40ba67a910f" src="/sites/default/files/inline-images/2-Lina-Marcela-Gonzalez-Vasquez_CNH_041024.jpeg" width="640" class="align-center" height="900" loading="lazy" /><a href="https://www.casece.com/northamerica/en-us" target="_blank">CASE Construction Equipment</a>, a <a href="https://www.cnh.com/" target="_blank">CNH</a> brand, highlights the inspiring story of a construction professional who is always in pursuit of improving her skills in the sector.

Historically, women in construction have faced major challenges, including gender discrimination and lack of equal opportunities. However, they have persevered and made significant strides in the fight for equality in the industry.

In a story where passion and attitude are essential pillars, CASE presents the story of Lina Marcela Gonzalez Vásquez, Commercial Coordinator of the dealer <a href="https://partequipos.com/" target="_blank">Partequipos</a>, the official distributor for CASE in Colombia. "The word that best defines what work means to me is "fulfillment", says Lina, “Every day, having the opportunity to contribute, grow professionally, and achieve goals within my field of work gives me a sense of satisfaction and personal accomplishment that I find invaluable."

In her day-to-day work, Lina plays a fundamental role, supporting and sustaining the commercial process to promote the development of each sales opportunity, providing accompaniment to both commercial advisors and others involved. In addition, she oversees the negotiation processes with international suppliers, always maintaining a results-oriented approach, with a high level of productivity and quality in her work.

Women play a prominent role throughout the sector's value chain, which has increased in recent years. "Personally, I am optimistic about the growing presence of women in a male-dominated sector like mine. Participation not only fosters gender equality, but also enriches our work environment with a variety of perspectives and skills."
<img alt="A person stood in front of agricultural machinery " data-entity-type="file" data-entity-uuid="70acedb0-763e-46b8-9f69-0dfdcfce2be3" src="/sites/default/files/inline-images/Lina-Marcela-Gonzalez-Vasquez_CNH_041024.jpeg" width="640" class="align-center" height="900" loading="lazy" />12 years of hard work later, Lina still finds herself in a position to learn more about her field every day. "My journey in the heavy machinery field has taught me the importance of adaptability, effective communication, and continuous learning. I have learned to face challenges with flexibility and determination, to value customer satisfaction, and to constantly look for opportunities to improve my skills. These learnings have been fundamental for my personal and professional growth in the field," said Lina.

Since 2016, Partequipos has been an official CASE distributor in the Latin American country. Currently, it has points of sale in seven of the main cities of the country, providing coverage and assistance at a national level, ensuring a comprehensive and effective service throughout the territory.

From strategic locations, the distributor offers the wide portfolio of the brand's construction line, highlighting skid steer loaders, backhoe loaders, motor graders, excavators, among others, equipment that plays a fundamental role in the growth and development of the country.

Sharing Lina’s story is a demonstration of CNH’s commitment to integrating diverse experiences and perspectives into the work of its brands and dealers. The company continuously supports women in Ag and Construction to continue Breaking New Ground.

CNH Brand Supports Women in Construction

<img alt="Static Image 1st place winner, by EL Mikkelsen, Arizona State University" data-entity-type="file" data-entity-uuid="78ab7a08-3733-4116-9f72-3a02d5a12676" src="/sites/default/files/inline-images/more-important-recognize-power-donating-money-support-international-disaster-relief_USAID_050124.jpg" width="640" class="align-center" height="1080" loading="lazy" />May 2, 2024 /CSRwire/ - The USAID Center for International Disaster Information (CIDI) and USAID’s Bureau for Humanitarian Assistance (USAID/BHA) are proud to announce the winners of their annual PSAid contest, a public service announcement design competition for college students. Each year, participants are invited to create PSAs explaining why “Cash is Best” when donating to international disaster relief efforts.  
When disaster strikes internationally, Americans want to help. While well intentioned, most people are unaware that donating material goods can hinder relief efforts by creating logistical challenges and overwhelming local infrastructure. Monetary donations to trusted organizations working on the ground helps support international disaster relief efforts and makes a meaningful impact on the lives of those affected by these devastating events.  
The 2024 winning PSAs were selected from submissions received from universities and community colleges across the country in three categories: video, static image and GIFs.  
Congratulations to the 2024 PSAid contest winners:  GIF:

<ul><li>1st: <a href="https://www.psaid.org/portfolio-items/cash-is-best-7/" target="_blank">Cash is Best</a>, Izie Figueroa, Arizona State University</li>
	<li>2nd: Cash is Fast, Emyli Hinojosa Rafael, Arizona State University</li>
	<li>3rd: Why is Cash Best?, Hyelim (Amy) Song, Arizona State University</li>
</ul>Static Image:

<ul><li>1st: <a href="https://www.psaid.org/portfolio-items/send-cash/" target="_blank">Send Cash!</a>, EL Mikkelsen, Arizona State University</li>
	<li>2nd: Unblocking Relief Efforts, Emma Klarin, Arizona State University</li>
	<li>3rd: Change is Magic, Sydnee Reed, Arizona State University</li>
</ul>Video:

<ul><li>1st: <a href="https://www.psaid.org/portfolio-items/global-chat/" target="_blank">Global Chat</a>, Natalie Clark, Arizona State University</li>
	<li>2nd: No Matter the Disaster, Alula Valdivia, Arizona State University</li>
	<li>3rd: Quick and in Quantity, Gabe Pante, Arizona State University</li>
</ul>"Throughout this experience, I learned how valuable cash is during international disasters,” said Sydnee Reed of Arizona State University, third-place winner in the static image category. “I hope people see this and understand that needs are different in every situation, and the best way to make a change is to donate something that is universally valued.”  
A panel of experts from the fields of humanitarian assistance, communications and design served as volunteer judges: Oktay Dogramaci, former vice president of PayPal Giving, CTO and co-founder of MissionFish; Hillary Hoffower, editor and writer; Jeff Odom, director of digital marketing for IndyCar; Gretel Truong, producer; and Marcia Wong, deputy assistant to the administrator for USAID’s Bureau for Humanitarian Assistance.  
USAID also invited the public to vote for their favorites in the People’s Choice contest.  People’s Choice winners:

<ul><li>GIF: Finding Your Zen With Cash, Alliyah Zaragoza, Arizona State University</li>
	<li>Static Image: The Pocket Sized Solution, Avery Cluff, Arizona State University</li>
	<li>Video: One Solution, Cash is Best, Jasmine Lawson, Arizona State University</li>
</ul>The winning PSAs will be used in CIDI’s “Cash is Best” outreach efforts. Previous winning PSAs have reached over 1 billion people and have been in more than 150 media markets, including New York, Los Angeles, Chicago, and Atlanta. Winning broadcast PSAs have appeared on streaming services, such as Roku, Apple TV, and Amazon Prime. Winning static PSAs and GIFs have been featured in Forbes, Rolling Stone, The Boston Herald, and the Arizona Republic, to name a few publications.  
All winning entries can be viewed at <a href="https://www.psaid.org/" target="_blank">PSAid.org</a>.  
###  About USAID CIDI  
USAID CIDI was created in 1988 by the United States Agency for International Development (USAID) Office of U.S. Foreign Disaster Assistance to inform the public about the advantages of giving monetary donations to relief organizations and warn about the risks of donating unsolicited material goods. Through its “Cash is Best” messaging, CIDI’s goal is to support donors and relief agencies as they work to provide quick, effective, and efficient relief to people affected by disasters. CIDI provides donations guidance to individuals, groups, embassies, businesses, and corporations. For more information about “Cash is Best” and helping international disaster survivors, please visit USAID CIDI at <a href="http://www.cidi.org/" target="_blank">www.cidi.org</a>.  Media Contact:  <a href="mailto:ariel.selzer@hillandknowlton.com" target="_blank">Ariel Selzer White</a>  
(713) 492-5627

<a href="https://www.psaid.org/" target="_blank">Learn More</a>

It’s More Important Than Ever To Recognize the Power of Donating Money To Support International Disaster Relief

BXP’s sustainability &amp; impact strategy aligns with our mission to envision, develop, and manage exceptional properties that enhance client success, strengthen communities, and advance opportunity. We believe that responsible real estate ownership, investment, and management contribute to progress on economic, social, and environmental issues. In 2023, we remained focused on measurable impacts. 
BXP’s strategy contributes to our commercial success while protecting asset value and our distinction as a premier workplace developer, owner, and manager. Our long-term investment in our people, our properties, and our communities, and implementation of our sustainability program have prepared BXP to navigate an evolving landscape of sustainability objectives, transitionary changes, regulations, and disclosure requirements. 
2023 highlights include:

<ul><li>Remaining on track to achieve carbon-neutral operations by 2025</li>
	<li>Managing transition risks and building performance standard compliance, retrocomissioning 9 million square feet of our portfolio to optimize energy performance</li>
	<li>Executing a power purchase agreement for an additional 21 MW of new solar generation capacity as a component of our strategy to reduce carbon emissions</li>
	<li>Issuing an additional $750 million of “Green Bonds” in our sixth Green Bond offering</li>
	<li>Increasing efforts to advance built environment climate technology through continued engagement and investment with Energy Impact Partners</li>
</ul>BXP will host its third annual Sustainability &amp; Impact Investor Update on Wednesday, May 15, 2024 at 2:00 PM Eastern Time. The webcast will be hosted by Doug Linde, President, and Ben Myers, SVP, Sustainability. The webcast will be accessible in the <a href="http://investors.bxp.com/" target="_blank">Investors</a> section of our website at <a href="https://www.bxp.com/" target="_blank">www.bxp.com</a>. 
BXP’s commitment to sustainability and impact has been recognized by numerous industry groups and rankings. BXP was recently recognized for Best ESG Program by Commercial Property Executive and was again named an ENERGY STAR Partner of the Year - Sustained Excellence Award winner, as well as a Best in Building Health winner by the Center for Active Design. BXP was recognized as an inaugural Platinum-level Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy and was the recipient of Nareit’s prestigious Leader in the Light Award. About BXP 
BXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of December 31, 2023, including properties owned by unconsolidated joint ventures, BXP’s portfolio totaled 53.3 million square feet and 188 properties, including 10 properties under construction/redevelopment. For more information, please visit our website at <a href="https://www.bxp.com/" target="_blank">www.bxp.com</a> or follow us on <a href="http://www.linkedin.com/company/boston-properties" target="_blank">LinkedIn</a> or <a href="http://www.instagram.com/bxpbostonproperties" target="_blank">Instagram</a>. Media Contact <a href="mailto:lsesody@bxp.com" target="_blank">Laura Sesody</a> 
Senior Vice President, Corporate Marketing &amp; Communications

BXP Releases 2023 Sustainability & Impact Report

Summary 
Schrödinger has published its second annual Corporate Sustainability report, which provides a comprehensive overview of the company's progress developing and executing on its strategy for addressing environmental, social and governance (ESG) matters. 
Throughout 2023, the company advanced every aspect of its ESG performance and created a road map that includes setting goals for each of its identified material ESG topics in alignment with its Corporate Sustainability strategy. This strategy is grounded in the concept of shared value, which the company has labeled VALUE2: “When we add value to the world, we create value for our company, and when we build value for ourselves, we generate value for the world.” 2023 Report Highlights Social

<ul><li>Schrödinger and two City University institutions were co-awarded a $1 million National Science Foundation grant to increase underrepresented students' access to industry-leading technology.</li>
	<li>To ensure a cohesive corporate strategy for social impact initiatives and provide employees consistent guidance, Schrödinger launched its inaugural Global Social Impact Policy in 2023.</li>
	<li>Schrödinger advanced its work with universities and K-12 schools to further STEM education and careers through multiple programs and initiatives.</li>
	<li>Building on its comprehensive suite of employee benefits, Schrödinger introduced new health and well-being options for its employees, including holistic health and mindful return for new parents.</li>
	<li>Advancing its diversity, equity and inclusion commitments, Schrödinger introduced new focus areas for its employee resource groups (ERGs), aiming to increase engagement, accountability, and growth opportunities.</li>
</ul>Environmental

<ul><li>Schrödinger completed an inventory of its operational environmental footprint, including energy use, greenhouse gas (GHG) emissions, water usage and waste generation.</li>
	<li>Based on its operational environmental footprint inventory, Schrödinger reported environmental data in 2023 for the first time, including Scope 3 GHG emissions.</li>
	<li>Schrödinger signaled its intention to establish science-based emissions reduction targets aligned with the Science Based Targets initiative by the end of 2025.</li>
	<li>The company released its first Environmental Policy that sets forth its commitments and methods for achieving them.</li>
	<li>Through its computational platform, Schrödinger continued to facilitate better environmental outcomes for its life science and materials development customers.</li>
</ul> Governance

<ul><li>As part of its commitment to strong corporate governance, Schrödinger updated and strengthened a host of company policies and developed, or is in the process of developing, policies covering:
	<ul><li>Health &amp; Safety</li>
		<li>Supplier Code of Conduct</li>
		<li>Human Rights</li>
	</ul></li>
	<li>Schrödinger established its first Ombuds Office, a neutral and independent third-party reporting channel for employees, business partners, customers, and members of the public to report concerns about the company.</li>
	<li>The company continued implementing its cybersecurity policies, processes, and technology in alignment with the National Institute of Standards and Technology Cybersecurity Framework.</li>
</ul>Guided by its mission to improve human health and quality of life by transforming how therapeutics and materials are discovered, Schrödinger is dedicated to continued progress on its Corporate Sustainability commitments. 
Schrödinger’s 2023 Corporate Sustainability Report references the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board Biotechnology &amp; Pharmaceuticals and Software &amp; IT Services standards. Access the report <a href="https://www.schrodinger.com/company/corporate-sustainability/" target="_blank">here</a>. 
  About Schrödinger 
Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based computational platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is licensed by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger’s multidisciplinary drug discovery team also leverages the software platform to advance a portfolio of collaborative and proprietary programs to address unmet medical needs. 
Founded in 1990, Schrödinger has approximately 850 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit <a href="https://www.schrodinger.com/" target="_blank">www.schrodinger.com</a>, follow us on <a href="https://www.linkedin.com/company/schr-dinger/" target="_blank">LinkedIn</a> and <a href="https://www.instagram.com/schrodinger.inc/" target="_blank">Instagram</a>, or visit our blog, <a href="https://extrapolations.com/" target="_blank">Extrapolations.com</a>. Media contact <a href="mailto:allie.nicodemo@schrodinger.com" target="_blank">Allie Nicodemo</a> 
Schrödinger, Inc. 
617-356-2325

Schrödinger Shares Corporate Sustainability Progress in 2023 Report

<img alt="A person stands in a crop field. White ducks foraging around them. &quot;Griffith Foods is proud to be a catalyst for regenerative agriculture.&quot;" data-entity-type="file" data-entity-uuid="ae1b527f-9bc4-4000-ab45-1f1fa86d2c74" src="/sites/default/files/inline-images/regenag_griffithfoods_042624.jpg" width="640" class="align-center" height="800" loading="lazy" />This Earth Day was a reminder that we all share one earth and it’s our responsibility to care for it. Regenerative agriculture practices help safeguard our planet.

Regenerative agriculture is a set of dynamic practices that revitalize soil health, increase biodiversity, preserve our water supply, increase resilience to climate change and foster the livelihood of farmers.

<a href="https://www.linkedin.com/in/ACoAACODvMwBrtZsabRrvtKoDtjx9Z1vvv4opUI" target="_blank">Anne Dinges</a>, Global Regenerative Agriculture Manager at Griffith Foods, along with fellow sustainability team members, lead our regenerative agriculture efforts through a two-pronged approach involving ecosystem and economic enablers. In the ecosystem realm, we support and encourage practices such as conservation tillage, crop rotation and the efficient use of nutrients and water. On the economic side, we work closely with farmers to support profitable farm enterprises, provide training and resources, and help improve economic outcomes.

Learn more about regenag and how we can restore our ecosystem and ensure economic viability for generations to come at <a href="https://bit.ly/46qNG1I" target="_blank">https://bit.ly/46qNG1I</a>.

At Griffith Foods, our purpose defines who we are, what we do, and why we exist, highlighting what makes us distinct and authentic in the marketplace. We help our partners meet the evolving needs and desires of consumers in ways that respect and sustain the planet. Our care and creativity mean we’ll find the right mix of global reach and local impact to serve the earth and nourish all of us who call it home.

Our Sustainability Platform of People, Planet, and Performance guides how we behave, conduct business, and treat people, ensuring that everything we do leads to responsible growth for our entire ecosystem.

People  
We take care of our employees and the communities in which we do business.

Planet  
We all share one Earth, and we take environmental action to responsibly care for it.

Performance  
We operate ethically and strategically to create a positive impact for our business and for all of those with whom we interact.

View original content <a href="https://www.linkedin.com/posts/griffith-foods_earthday-regenag-activity-7188247453635096576-tZOE/?utm_source=share&amp;utm_medium=member_desktop" target="_blank">here.</a>

This Earth Day was a reminder that we all share one earth and it’s our responsibility to care for it. Regenerative agriculture practices help safeguard our planet.

Griffith Foods Enables Regenerative Agriculture

<figure role="group" class="align-center"><img alt="Aerial view of large rows of solar panels on a rooftop." data-entity-type="file" data-entity-uuid="e207b451-8b06-422b-a5fd-17f2a40ab159" src="/sites/default/files/inline-images/roofsolar_cbre_050124.jpg" width="640" height="1080" loading="lazy" /><figcaption>Courtesy CBRE</figcaption></figure><a href="https://www.cbre.com/insights/viewpoints/community-solar-a-growing-opportunity-within-commercial-real-estate" target="_blank">CBRE</a>

America’s Solar Surge

As the U.S. invests in renewable energy, solar power continues to gain momentum, with installations growing by 22% annually over the past 10 years1 and 51% in 2023 alone.2 According to the Solar Energies Industry Association, this growth has been driven by:

<ul><li>Reduction in costs for solar photovoltaics (PV) installations</li>
	<li>Rising demand for sustainable electricity from both public and private sectors</li>
	<li>Federal policies like solar Investment Tax Credit (ITC) and, more recently, the Inflation Reduction Act (IRA)</li>
</ul>At the end of 2023, there was just over 179 gigawatts (GW) of solar capacity installed nationwide, enough to provide power for approximately 33 million households.3 The U.S. Energy Information Administration projects that a record 36.4 GW of solar capacity will be added to the energy grid in 2024.4
<figure role="group" class="align-center"><img alt="&quot; &quot;" data-entity-type="file" data-entity-uuid="439db343-6f25-4ad0-a8f7-786a0e6ab44d" src="/sites/default/files/inline-images/fig1solar_cbre_050124.jpg" width="640" height="424" loading="lazy" /><figcaption>Figure 1: Cumulative U.S. Community Solar Installations &amp; Forecast. Source: SEIA, Wood Mackenzie, 2023. Courtesy CBRE</figcaption></figure>While rooftop solar continues to be a game changer for many property owners, it isn’t always an option for others, particularly renters and low-and-moderate-income (LMI) households. LMI households are frequently renters and therefore it is difficult for them to persuade property owners to install on-site solar. To overcome these obstacles, the concept of community solar emerged in 2010, providing customers with access to solar energy without the need to install PV panels. Over the past 10 years, community solar has experienced an average annual growth rate of 80%, reaching approximately 6.49 GW at the end of 2023.5 Looking ahead, community solar is forecast to double by 2028,6 reaching 14 GW.

This Viewpoint aims to highlight the benefits and opportunities from community solar for commercial property owners, particularly in urban areas with high renewable energy demand but limited properties that can accommodate on-site solar.

1, 3, 5<a href="https://www.seia.org/solar-industry-research-data" rel="noopener noreferrer" target="_blank">https://www.seia.org/solar-industry-research-data</a> 2<a href="https://www.seia.org/us-solar-market-insight" rel="noopener noreferrer" target="_blank">https://www.seia.org/us-solar-market-insight</a> 4<a href="https://www.eia.gov/todayinenergy/detail.php?id=61424" rel="noopener noreferrer" target="_blank">https://www.eia.gov/todayinenergy/detail.php?id=61424</a> 6<a href="https://pv-magazine-usa.com/2024/02/20/u-s-community-solar-installations-expected-to-more-than-double-by-2028/" rel="noopener noreferrer" target="_blank">https://pv-magazine-usa.com/2024/02/20/u-s-community-solar-installations-expected-to-more-than-double-by-2028/</a>
<figure role="group" class="align-center"><img alt="Solar panels with a sun behind them." data-entity-type="file" data-entity-uuid="f904e127-73bf-45d0-9a94-80e9dcb24975" src="/sites/default/files/inline-images/solarinsun_cbre_050124.jpg" width="640" height="300" loading="lazy" /><figcaption>Courtesy CBRE</figcaption></figure>What is Community Solar?

According to <a href="https://www.altuspower.com/community-solar" rel="noopener noreferrer" target="_blank">Altus Power</a> (a full-service solar company offering unique commercial, industrial, and community solar customer-focused solutions from coast to coast), community solar gives local businesses and residents shared access to renewable energy and its benefits by remote access to existing solar installations. By subscribing to a community solar project, property owners can reduce their carbon emissions and electricity costs without making any changes to their rooftop or home. This transformative business model encourages more clean energy in the community and is designed to provide renewable energy access to those who might not be able to install solar panels due to factors like limited rooftop space, shading, outdated electrical systems, high costs, or because they do not own the building.7

Essentially, community solar participants are members in a shared solar project situated on a larger, off-site location such as a large utility-scale solar facility, a solar farm or a nearby industrial or retail property. Each member pays for a share of the energy generated by a community solar array; in return, members receive a credit on their electricity bill for the energy generated by their share. Community solar not only lowers carbon emissions, but often reduces rising operational costs for property owners.

7<a href="https://www.altuspower.com/community-solar-faq" rel="noopener noreferrer" target="_blank">https://www.altuspower.com/community-solar-faq</a>
<figure role="group" class="align-center"><img alt="Large solar panel-covered parking lot." data-entity-type="file" data-entity-uuid="d7849877-2075-414e-a9d6-6d4a5a1ac3b4" src="/sites/default/files/inline-images/communitysolr_cbre_050124.jpg" width="640" height="300" loading="lazy" /><figcaption>Courtesy CBRE</figcaption></figure>How does community solar intersect with commercial real estate?

Incorporating community solar into commercial real estate strategies can align with both environmental goals and business interests. The intersection between community solar and commercial real estate occurs when property owners choose to host community solar projects. This type of partnership often involves commercial property owners leasing rooftop or land space to accommodate solar installations. Community solar installations generally allow a solar developer and real estate owner to maximize the PV system size, further increasing the economic opportunity for the property owner. Community solar enables these property owners to generate renewable energy while also creating additional income streams through underutilized spaces. Community solar not only bolsters resilience and reliability of the electrical grid, but also helps to stabilize energy expense and demonstrate a commitment to sustainability.

Business Opportunity and Community Impact

For commercial real estate owners with rooftops capable of accommodating solar panels, the income opportunity arises from two options: i) “behind the meter” solar serving the tenant, and ii) community solar. The first option provides clean power to the tenant and for on-site operations, reducing utility expenses while helping them meet sustainability goals. With community solar, the clean power generated is put into the electricity grid and multiple community members are able to purchase the energy, often at a discount, without needing site control. Community solar projects promote sustainability by increasing the adoption of renewable energy, reducing greenhouse gas (GHG) emissions, and decreasing dependence on fossil fuels—a leading contributor to climate change.

<blockquote>
Incorporating community solar into commercial real estate strategies can align with both environmental goals and business interests.
</blockquote>
<figure role="group" class="align-center"><img alt="&quot; &quot;" data-entity-type="file" data-entity-uuid="4a9be853-a063-4481-b758-3fa4d20f053d" src="/sites/default/files/inline-images/fig2USAsolar_cbre_050124.jpeg" width="640" height="675" loading="lazy" /><figcaption>Figure 2: U.S. Community Solar Profile: Market Share and Public Policy Support Locations with policies that support community solar. Source: EPA, NREL. Note: Community solar definitions vary across states due to differences in laws, regulations and local conditions. Courtesy CBRE</figcaption></figure>Where are the significant community solar projects?

Since the inception of the first community solar project in Ellensburg, WA, in 2006, its rapid growth has been aided by various state programs. As of 2022, there were 2,550 community solar projects across the nation, with 93% of these located in 10 states. The top states for community solar installations include Florida (27% of all installations), New York (19%), Minnesota (14%), and Massachusetts (14%)8; however, many of these projects were implemented as part of utility-specific programs that were not available to commercial real estate property owners.

According to Altus Power, the most active states for community solar on large commercial buildings are Illinois, New Jersey, New York and Maryland, due to attractive state legislation and large real estate supply.
<figure role="group" class="align-center"><img alt="&quot; &quot;" data-entity-type="file" data-entity-uuid="69204558-44f8-4fd0-b1bb-316f14540d13" src="/sites/default/files/inline-images/fig3Marketsharesolar_cbre_050124.jpg" width="640" height="590" loading="lazy" /><figcaption>Figure 3: Market Share of Community Solar and LMI Capacity Across the U.S. Source: NREL. Courtesy CBRE</figcaption></figure>Market Share of Community Solar &amp; LMI Capacity in the U.S.

Community solar’s concentration in 10 states reflects the vital role that state policies and regulations play in spurring adoption. Additionally, federal policies, such as the ITC—which was extended as part of the Inflation Reduction Act (IRA)—and state-level policies, like Renewable Portfolio Standards (RPS) requiring electricity utilities to generate a specific percentage of their energy from renewable resources and net metering to provide credits for solar energy added to the grid, have all encouraged participation and investment. Furthermore, the significant fall in solar costs has improved the economic viability of community solar. As solar installation expenses continue to decrease and favorable state-level policies are enacted, community solar projects will become more accessible to LMI households, allowing more individuals to participate in a low carbon future.
<figure role="group" class="align-center"><img alt="&quot; &quot;" data-entity-type="file" data-entity-uuid="a829c3db-b5c0-444e-9ef3-c3e42bc96da5" src="/sites/default/files/inline-images/fig4marketcomparison_cbre_050124.jpg" width="640" height="590" loading="lazy" /><figcaption>Figure 4: Market Comparison Case Study. Sources: NREL, SEIA, EnergySage, CBRE Econometric Advisors. Courtesy CBRE</figcaption></figure>Case Study for CRE

Learning From Neighboring States’ Solar Success

In many urban areas, there is not enough suitable land nearby for ground-mounted solar installations. Instead, it’s more viable to leverage large industrial and retail commercial property rooftops. By utilizing these expansive roof spaces, local communities can make renewable energy accessible to a broader range of individuals, including those with lower incomes. This approach not only addresses the land constraints but also encourages collaboration between residential and commercial sectors, fostering a mutually beneficial environment where energy generated benefits both the local community and the commercial entities. It promotes sustainability while maximizing the potential of existing infrastructure, ensuring that renewable energy sources become an integral part of underserved communities often most impacted by pollution from fossil fuels.

In the case study below, CBRE Econometric Advisors utilizes our proprietary commercial property data to compare the community solar potential in four cities. Two markets with community solar initiatives (New York City and Chicago) are compared with cities in the same regions (Philadelphia and Detroit) that plan to enact programs. The study demonstrates the potential financial and environmental benefits that community solar initiatives could bring as regulations and programs evolve. Although the amount of savings varies by location, project specifics and energy consumption, community solar subscribers can save as much as 20% annually.9 In the case study examples, New York and Chicago subscribers can save 9-10% annually off of their electricity bills.

<a href="https://www.seia.org/initiatives/net-metering" rel="noopener noreferrer" target="_blank">Net Metering Law</a> <a href="https://www.cpuc.ca.gov/industries-and-topics/electrical-energy/demand-side-management/customer-generation/virtual-net-metering" rel="noopener noreferrer" target="_blank">Virtual Net Metering</a> <a href="https://www.energysage.com/community-solar/community-solar-savings/" rel="noopener noreferrer" target="_blank">Potential Savings to Subscribers</a> 
Sources: NREL, SEIA, EnergySage, CBRE Econometric Advisors.9<a href="https://www.energysage.com/community-solar/community-solar-savings/" rel="noopener noreferrer" target="_blank">https://www.energysage.com/community-solar/community-solar-savings/</a>

Closing

Community solar provides a cost-effective way for communities to participate in sustainable energy solutions. The benefits include more clean energy for local communities and, for property owners, more revenue opportunities, less dependence on fossil-fuel energy sources, and compliance with government <a href="https://www.cbre.com/insights/viewpoints/u-s-building-performance-standards-in-2023-and-beyond" target="_blank">Building Performance Standards (BPS)</a> or other climate mitigation measures.

This Viewpoint aims to highlight the benefits and opportunities from community solar for commercial property owners, particularly in urban areas with high renewable energy demand but limited properties that can accommodate on-site solar.

Community Solar: A Growing Opportunity Within Commercial Real Estate

<img alt="Exterior of KeyBank Ithaca, NY." data-entity-type="file" data-entity-uuid="4b049ad3-528d-4bd3-87c0-b70bda6896cc" src="/sites/default/files/inline-images/KeyBank%20Ithaca%20Branch_KeyBank_5.3.24A.jpg" width="640" class="align-center" height="825" loading="lazy" />Often the first to feel the effects of inflation and economic volatility, small business owners are optimistic about their businesses, even as economic challenges remain. <a href="https://www.key.com/content/dam/kco/documents/small_business/Small_Business_Month_Exec_Summary_2024.pdf" target="_blank">KeyBank’s 2024 Small Business Survey</a> found that 65% of small business owners feel confident they could fund their operating expenses for one month with their cash reserves, if an unexpected need arose.

Still, 37% of business owners anticipate that inflation will slightly increase their operating costs and 27% expect a significant increase in operating costs in the next 12 months. The top challenges small business owners anticipate this year are fluctuating sales/revenue (35%), delayed payments from clients/customers (29%) and high overhead costs (28%).

Despite these concerns, small business owners are well-adjusted and taking precautionary measures to protect their businesses—and the employees and communities they serve. They are already implementing cost-cutting measures (32%), increasing cash reserves (30%) and exploring alternative financing options (22%). As one of the top indicators of financial resilience in the US, their actions could be the first signal of an improving economic environment.

“Small businesses are the cornerstone of our communities. They create jobs, fuel the local economy, and help contribute to the character of the neighborhoods we live and work in,” said Mike Walters, President of Business Banking at KeyBank. “By fostering a supportive environment for small businesses, we’re able to invest in and empower entrepreneurs, increase their confidence and help their business run better.”

Leaders Leverage Bank Relationships for Education and Resources

Banks are at a pivotal moment to help their small business clients navigate cash flow and business operation concerns—and small business owners are turning to them for advice. The top three pieces of advice owners have received are: cut costs by reducing discretionary spending (34%), establish an emergency fund (22%) and diversify revenue streams by introducing new products or services (20%).

While more than half (52%) of small business owners are confident that their banks understand their cash flow concerns, almost 20% are unsure if their banks do so – pointing to an opportunity for banks and business owners to expand their relationships.

KeyBank, a top SBA lender1, has provided more than $4.5 billion in small business loans and lines of credit. Most recently, KeyBank received their 11th consecutive “Outstanding” rating from the Office of the Comptroller of the Currency (OCC) on its most recent Community Reinvestment Act (CRA) exam. KeyBank’s recent exam period covered January 1, 2019- December 31, 2021. A significant investment to support low-to-moderate income communities included the banks quick response to support both clients and communities through the pandemic. In 2020 and 201, KeyBank processed 69,000 loans through the Paycheck Protection Program (PPP), providing more than $11.2 billion in critical funding to small and mid-size businesses.

Methodology

This survey was conducted online by Survey Monkey. 1,983 respondents, ages 18-99, located in the United States, who own or operate a small-to-medium size business with an annual gross revenue of less than $10 million, completed the survey in March 2024.

Learn more about KeyBank’s opportunities and programs for your small business by visiting <a href="key.com/small-business" target="_blank">key.com/small-business</a>. KeyBank offers a range of tools, including the <a href="https://www.key.com/small-business/advice/small-business-check-in.html?sqkl=SB_home_redpanel_CMPSBCheckin_0923" target="_blank">KeyBank Small Business Check-In</a><a href="https://www.key.com/small-business/banking/financial-wellness/index.html" target="_blank">, KeyBank Small Business Financial Review</a> and the <a href="https://www.key.com/small-business/tools-resources/calculators/business-cash-flow.html" target="_blank">Business Cash Flow Calculator</a>.

CFMA #240503-2585079

This material is presented for informational purposes only and should not be construed as individual tax or financial advice. KeyBank does not provide legal advice. All credit products and SBA Loans are subject to approval, terms, conditions, and availability and subject to change. Key.com is a federally registered service mark of KeyCorp. ©2024 KeyCorp

1Source: Statistics released by the U.S. Small Business Administration (SBA) October 2023 for total approved loans through the SBA’s 7(a) lending program during the federal fiscal year ending 10/2023.

Often the first to feel the effects of inflation and economic volatility, small business owners are optimistic about their businesses, even as economic challenges remain. KeyBank’s 2024 Small Business Survey found that 65% of small business owners feel confident.

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