Social Impact

What’s happening? After Governor Abbott opened business to 100% capacity and removed any state mask mandate, I saw a tweet that said now Texans will turn to the 4th State of Government in Texas- H.E.B , the state’s largest grocer.

Why is this important? This is quickly becoming common. Did the government go too far? Look for companies to take a stand on big picture issues. Think of Nike quickly supporting Kapernik

How will this be important? As GenZ feels more invested in their trusted brands, the positions those brands take will be more powerful than government.

What’s happening? Netflix has promised $100 Million to improve diversity in its shows.

Why is this important? Customers and the public want to know that products stand for something. People want to know if they’re spending their money that the money is going into the hands of a company that will be on the right side of history.

How will this be important? Being silent is no longer an option.

@Engadget

What’s happening? When analyzing the return from a hospital owned affordable housing project, analysts used social return on investment in lieu of old school return on investment.

Why is this important? IN 2018 numbers, they found that the return was $1.30 to $1.92 per year for every dollar of annual operating expense

How will this be important? We’ll see more social return on investment as it includes a more holistic economic review.

Healthcare Dive | Hospital-backed housing brings positive social return on investment: Health Affairs

What is happening? In November 2020 McDonalds launched its new Accelerating the Arches growth strategy designed to “refreshed purpose to feed and foster communities.”

Why is this important? In 1990 McDonalds forged a relationship with Conservation International to add sustainable whitefish sources for its Filet-O-Fish sandwiches. IN 2002 McDonalds released its first sustainability report.

How will this be important? Harvard Business Review notes that consumers and stakeholders want companies that see social good as a necessity to address the growing number of global issues. It’s good for business.

Forbes | How McDonald’s New Chief Global Impact Officer Plans To Execute The Company’s ‘Refreshed Purpose’

What’s happening? Katie Moussouris, a leading researcher and entrepreneur in cybersecurity and vulnerability disclosure, made a $1 million gift via her Pay Equity Now (PEN) Foundation to establish the Anuncia Donecia Songsong Manglona Lab for Gender and Economic Equity at Penn State Law in University Park

Why is this important? She is establishing a litigation clinic that will focus primarily on appellate advocacy and litigation involving issues of gender in employment equity to achieve pay equity across the US in her lifetime.

How will this be important? The pandemic reset thinking from traditional workdays, systemic racism, sexism and there is no sign of a slow down. Whether it’s the Business Roundtable or NHL players standing up against racism or homophobia, more voices re actively looking to be on the correct side of history.

www.manglonalab.org.

What’s happening? Caledonia Minings has added its first ever sustainability expert to its board. It’s a big step.

Why is this important? Mining is looking at sustainability. Mining. Old school is getting new school.

How will this be important? The new economy is here to stay, folks.

Proactive Investors | Caledonia Mining appoints sustainability and community engagement expert to board

What’s happening? The brains at Chicago Booth Review found that COVID revealed that sustainability isn’t a nice thing to have, but rather a necessity for investors

Why is this important? Being kind, supporting sustainability and diversity increases profits in times of disaster like COVID too.

How will this be important? ESG standards are not only entering with corporate sustainability and diversity standards, but also pension options that include ESG or transparency in pension investments to disclose sustainability and diversity standards and investments.

Chicago Booth Review | When green investments pay off

What’s happening? A republican State Senator tweeted during the great Texas Winter Storm of 2021 hailing HEB, a local grocery store, for gifting groceries to people caught in the store when the power went out.

Why is this important? The Stakeholder Economy is all about people over profit. It’s what the Business Roundtable pointed to a few years ago, it is the heart of the new economy from COVID, and its’ what the academics have been saying for years- data shows when you play nice, you make more money.

How will this be important? People over profits isn’t red or blue.

@DrSchwertner

What’s happening? A new transparency benchmark for pension systems has been created. Meet the new Global Pension Transparency Benchmark. Overall country benchmarks measure four factors: governance/organization, performance, costs, and responsible investing.

Why is this important? This benchmark focuses on the transparency and quality of public disclosures, with quality relating to the completeness, clarity, information value, and comparability of disclosures.

How will this be important? Disclosing information in common terms is important. These experts point to CALPERS executive summary that’s easy to read and Quebecois pension fund Caisse de dépôt et placement du Québec  puts easy to read updates on its website. Communication is key.

CIO | New Pension Transparency Gauge Finds Serious Improvement Is Needed

What’s happening? Costco announced today that it would increase its base pay to $16/hour.

Why is this important? Costco leadership talks about increased base pay like a champion for stakeholder economy: “This isn’t altruism. At Costco, we know that paying employees good wages and providing affordable benefits makes sense for our business and constitutes a significant competitive advantage for us.”

How will this be important? Local governments and states are considering higher minimum wages and point to businesses closing. This example will be lauded to support higher minimum wages.

Market Watch | ‘I will continue happily shopping there forever’: Costco customers react to retailer’s new $16 minimum wage

What’s the deal? The BBC says the UK”s use of a COVID tracing app told 1.7 million to isolate and is estimated to have prevented 600,000 new infections.

Why is this important? The app has 21.7 million downloads and 16.5 million active users. For reference there are 63.8 million people in Great Britain.

How will this be important? COVID will not be the first rodeo in Pandemicland.

BBC | Covid-19: NHS app has told 1.7 million to self-isolate

What’s the deal? The head of the US Chamber will soon be a woman, after an early departure of its longtime leader.

Why is this important? IN 2020, the US Chamber made the unprecedented endorsement of 23 first-term House Democrats.

How will this be important? Writing is on the wall. “Suzanne is a great leader. If the speculation is true, this is not only good for the Chamber, but good for American business and the association world in general,” – Former political affairs and federal relations leader at the US Chamber. And from the President of the US Brands Association, “Suzanne has brought welcome changes to the Chamber in recent years — modernizing functions, injecting new talent, pursuing bipartisanship and promoting diversity.”

The Hill | Chamber eyes CEO change just weeks into Biden presidency

What’s the deal? The Mavericks has not played the national anthem before its home games.

Why is this important? The NBA has different from the NFL in that the NBA has supported its players that have spoken about social justice.

How will this be important? One of these will be in the right side of history and the other will not be.

@washingtonpost

What’s the deal? First Energy, parent company of Penn Power, donated $1 million to the American Heart Association’s Social Impact Fund.

Why is this important? The Social Impact Fund provides provides financial grants and low-interest loans for evidence-based, community-driven entrepreneurial solutions to local health equity challenges including economic empowerment, healthy food access, housing, recidivism, access to quality healthcare, transportation, and educational opportunities.

How will this be important? A current big issue is how to pay for deferred utility bills due to the pandemic. Is there an impact fund that can benefit the industry?

New Castle News | FirstEnergy gives to social impact fund

What’s the deal? Not to get into corporate speak of intersectionality. We are gong to talk about how social impact is intersecting with the construction industry,

Why is this important? Investors are paying attention. Investors are taking their calls for ESG to construction investments. States are calling for specifics in projects too. The director of sustainability at Skanska USA, pointed to Washington state’s proposed Buy Clean-Buy Fair Act, which would mandate that any building materials procured with tax dollars are manufactured in a cleaner, less carbon-intensive way, and via fair labor practices.

How can this impact us? If construction companies aren’t up on their ESG, the investors say they’ll pull their funding.

Construction Dive | Socially responsible investing is poised to intersect with construction

What’s the Deal? The Reddit Co-founder speaks about fintech startups in the retail trading space never being more aware of the iron fist of regulatory pressure. “The collective public cannot unsee this, and so I think that there’s going to be more and more energy to find decentralized solutions. “

Why should we care? Gamestop stock situation will not be an isolated event.

How can this impact me? Somehow it appears that the Reddit Co-founder and TexAs Attorney General Ken Paxton are on the same page, at least as it comes to the role of Robinhood trading in this mix.

Tech Crunch | The collective public cannot unsee this, and so I think that there’s going to be more and more energy to find decentralized solutions. 

What’s the deal? Amperity, the Seattle-based customer data platform, is adding Ciara to its corporate board to focus on social responsibility. Star Power + social impact.

Why should we care? Corporations are adding C suite level positions directed at diversity, inclusion, sustainability all the elements of corporate social responsibility. Now we’re seeing more parity at the corporate board level.

How can this impact me? Talking about business as bottom line only while boasting bully policies worked before, not anymore. Stakeholder capitalism means we care how well everyone is doing and we choose to make them better first.

GeekWire | Ciara joins board of Seattle startup Amperity to help guide corporate social responsibility efforts

What’s the deal? Illinois awarded $31.5 million in grants to revitalize neighborhoods devastated by violence, poverty and the war on drugs. Grants are being given to violence prevention, legal aid and reentry for those convicted of crimes.

Why should we care? Let’s call COVID the precursor to Feel Good times. Treating your community like you want to be treated is here to stay.

How can this impact me? Think about the process this sets up- legalize and tax something, cannabis in this case, and then dedicate a portion of the tax revenue from what you legalized to build communities. It is like paying it forward by paying it backwards.

Chicago Tribune | Illinois awards $31 million in grants funded by pot taxes for violence prevention, reentry and development in areas hurt by the war on drugs

What’s the deal? First, let me apologize to the non-Swedish speakers here. This link is in Swedish, but you know, google translate is your friend. The advertisement compares the support of fossil fuels by major Nordic banks.

Why should we care? Consumers are paying attention. It is part of the new economy. Are we seeing more ads about whether our clothes are from sustainable sources and our food is organically and stainable grown? probably but the next phase will be what they’re seeing in europe which is how sustainable are the practices of a business.

How can this impact me? We’re going to see all of our economic choices include an element of whether we chose the diverse, the inclusive, the sustainable, etc….Bring a bad actor isn’t cool anymore. It never was really cool but it was popular- consider it like high school and now we’re all more mature and kinder.

@alicebahkuhnke

What’s the deal? Texas A&M announced its new Green Labs Certification Program that will decrease energy and water costs and reduce the costs to dispose of lab chemicals. Texas A7M has 3500 lab spaces. The program will certify wet labs that meet its standards.

Why should we care? This is Texas A&M keeping up. Peer universities have green lab programs.

How could this impact me? If the local convenience can talk up its sustainability programs, so will everyone else. Keep up.

Texas A&M today | Texas A&M University Launches Green Labs Certification Program

What’s the deal? Traditional super bowl ads are gone by the wayside, because tone matters now. Companies are concerned about the tone of their commercials, they are concerned about the high tensions within the American public, and what happens when it collides on social media. Is it a message that uplifts and your company is a social media darling or is it a message that gets your products boycotted and pulled off shelves of retailers.

Why should we care? Words and tone matter not only in commercials, but in our day to day world too. It is like this– just because my dog can leave his mark on the sofa, doesn’t mean he should. Just because we can be mean, should we be?

How can this impact me? This is a foundation of the new economy. It’s the future.

WSJ | Super Bowl 2021 Ads Adjust Tone, Message for a Difficult Year

What’s the deal? A professional golfer uttered a LGBTQIA+ slur. He quickly apologized on television while still on the green. Ralph Lauren announced it would stop working with him. The PGA Tour announced a fine. Citi announced that they will require him to use his platform to “play an active role in accelerating support for the community and increase awareness of discrimination in the community. He is also required to donate a meaningful portion of his sponsorship fee.

Why should we care? This is like an evolved map of cancel culture. Learn from it

Why does this matter to me? This is the perfect example of the new economy. There’s grey area but there’s no room for bad actors.

Out | Citi Makes Golfer Justin Thomas Donate to LGBTQ+ Orgs After Slur Usage

What’s the deal? Apple CEO is speaking out about privacy concerns over other tech companies that collect user data for targeted ads. Apple has been a supporter of data privacy as a right for the consumer.

Why should we care? Every level of government is considering legislation in this arena. Tech is spending record numbers on government affairs teams.

Why does this matter to me? Every device we use collects data and uses data. Every device your clients make or use collects data and uses data.

Bloomberg | Apple CEO Slams Tech Giants Ahead of New Privacy Features

What’s the deal? The EU is benefitting from socially responsible public procurement. There’s even hashtags, #webuysocialEU.

Why should we care? The EU did the work for us and named 71 examples of socially responsible procurement from ethical trade to design for all to diversity.

Why does this matter to me? because it’s heading your way.

Recycling Magazine | #WeBuySocialEU campaign pushes socially responsible public procurement

What’s the deal? BlackRock, the $8.7 trillion asset manager, is saying it will drop companies that fail to act on climate change.

Why should we care? Follow the money. This isn’t isolated. Business Roundtable has called on a switch to stakeholder capitalism. The Pandemic has given consumers time to pay attention to supply chains and company behaviors.

Why does this matter to me? it’s changing how companies message. How consumers act. The majority of Get Z & Millennials are driven by this mindset and they are starting to be decision makers.

Fund Europe | BlackRock vows to divest from climate change laggards

What’s happening? Pundits, people on social media, are comparing the way voters are behaving to the way sports fans behave.

Why should we care? The polarization of voters has been full display. Now the academics are explaining why it’s happening. Sports researchers refer to the power of identity on behavior.

Why does this matter to me? There’s that line from The Man Who Shot Liberty Valance- about when he legend becomes fact, you print the legend. This polarization in politics has made wins and losses a lot more personal. Take note.

Route Fifty | Voters Are Starting to Act Like Hard-Core Sports Fans—With Dangerous Repercussions for Democracy

• Better reporting is putting more information into the hands of investors and companies
  • Sustainable investing is changing global supply chains: 4 key takeaways | Greenbiz
• Stakeholders are demanding more sustainability
  • 3 ways traceability can fulfill the sustainability promise | World Economic Forum
• “sustainability is profitability.”
  • -Ilham Kadri, CEO of chemicals provider Solvay

Who is created a new index and label? UAE

The UAE along with UAE Chambers of Commerce will create a new CSR label to benchmark participating companies.

How will it work?

• labels can be given to private & public entities
• 3 categories of CSR labels – platinum, gold, and silver
• Utilize 7 criteria:
  • contribution to national priorities
  • local added value
  • strategic planning and implementation
  • societal and environmental impact
  • stakeholder engagement
  • risk and opportunity management
  • creativity & innovation

Gulf News | UAE to create its own index and label for Corporate Social Responsibility initiatives

Hayes County Judge created the Council for the Indigenous and Tejano Community to preserve undertold and untold indigenous and Tejano stories.

Is the Council partnering with any groups? Yes, the Indigenous Cultures Institute 

Austin American Statesman | Hays County judge forms Council for the Indigenous and Tejano Community

The funding source: Jay-Zs new $10 million fund that will invest in minority-owned cannabis startups

Why? Minorities are convicted more often under drug laws & comprise a fraction of cannabis business in the legal market

What does the data say?

• 5-7 times higher incarceration rate for similar drug crimes -2017 study for the National Institutes of Health
• fewer than 6% of the almost 7,000 agents registered to sell or grow cannabis in Massachusetts are Black
• under 6% Black ownership of cannabis businesses in Denver
• 3% Black ownership of cannabis businesses in Washington
•  4X as likely for a Black person to be arrested for marijuana possession in the U.S. in 2018

What states have created programs to bolster minorities in the cannabis business? California, Illinois, and New York

Wall Street Journal | Jay-Z Joins Push to Boost Minority-Owned Cannabis Businesses

How much has Google dedicated to fighting misinformation over COVID vaccines? $3 million injection into its COVID-19 Vaccine Counter-Misinformation Fund

How is Google fighting misinformation over COVID vaccines? support journalistic projects that look to broaden the audience of fact checks

The Hill | Google launches $3 million fund to fight coronavirus vaccine misinformation

Everyone’s dear old pal, Yelp, is here to help.

How will Yelp add in COVID compliance? crowdsourced through customer input

Will Yelp track only restaurants? Nope, Bars and other businesses too

Engadget | Yelp will tell you which restaurants aren’t following COVID-19 guidelines

Eater | Yelp Will Now Display How Well a Restaurant Is Observing COVID-19 Guidelines

@Eater

When was the initiative announced? June 2020

What’s the goal of the initiative? help reduce barriers and opportunities for people of color across the country

What did Apple CEO Tim Cook say? We are all accountable to the urgent work of building a more just, more equitable world — and these new projects send a clear signal of Apple’s enduring commitment,”

What funding has been announced?

• Propel Center, an Atlanta-based innovation and learning hub for historically black colleges and universities
• Will found a Detroit-based Apple developer academy to support coding and tech education
•  Invest in New York-based Harlem Capital, which focuses on diverse entrepreneurs. 

What about Apple’s diversity? 53% of new hires in the U.S. are from historically underrepresented groups in tech including women and people who identify as Black, Hispanic, Native American or Native Hawaiian & Other Pacific Islander

Austin American Statesman | Apple says it will spend $100 million to promote diversity and racial equality

Where:Israel

How is the crowd funding for the social impact bond working?

• 1.6 Million in funding is anchored with investors and philanthropic funds
• 700,000 will be crowdsourced

What’s the social impact? To improve the life of 200 seniors in Televiv over 2.5 years to help with loneliness, quality of life and community

How does COVID factor in? COVID has exacerbated these challenges in the senior community

Pro Bono Australia | World first crowdfunded social impact bond launches

Who is focused on men’s sustainable fashion?  Seasons, a men’s rental platform that launched in New York in 2019

How much did Seasons membership grow in 2020? 800%

How does the company say Seasons fits the new economy? “There can be an alternative to traditional ‘ownership,’ where you’re creating opportunities for people to be a part of something without committing to it.”

Is it expanding in 2021? Yes, it will link directly to fashion brands e-commerce sites for purchase

Vogue | This Men’s Rental App Is Rethinking Fashion’s Sharing Economy

The App: Cluster

How does Cluster work for brands?

• “Brands partner with CLUSTER
• To give purpose to their marketing campaigns
• Uniting with Creators and individuals to champion social causes and drive positive change in the world.”

How does Cluster work for creators?

• “Creators use CLUSTER to (partner with Brands)
• To turn their passion for social causes into actionable events
• That drive positive change in their communities and the world.”

What’s the short hand in all this? Helps amplify causes by using your digital networks

KLTA 5 | New platform ‘Cluster’ aims to promote positive social action

Meet Helping Hands Community, an app that connects volunteers to food banks and social service organizations.

What does Helping Hands Community offer? streamlines how food banks and social service organizations deliver food, medicine and other necessities to senior citizens and those who are immunocompromised

Who is delivering to those in need?

• Volunteers sign up in the app to deliver goods to people in their local communities.
•  The APP also connects service providers to drivers with ride-sharing applications such as Uber and Lyft

How is the app structured? It is a nonprofit platform is completely volunteer-run with about 150 people from companies such as Google, Apple and Amazon

The Bulletin | Bend man creates online platform for those in need during pandemic

It’s the perfect time:

• NASDAQ has new diversity requirements for listing
• Securities & Exchange Commission have new proposed rules on ESG investing which includes a diversity component
• Impact of COVID
• Impact of Social Justice Issues like Black Lives Matter

What do most corporate boards look like? “male, pale and stale” 

Deadline has a great overview of diversity on media corporate boards.

Deadline | Corporate Boards Will Get More Diverse In 2021 With Social Justice Jolt, New Regs, Covid Impact

MIT Sloan School has identified the behavioral practices necessary for leading in the new economy.

What will leaders in 2021 need to be?

• empathy
• authenticity
• curiosity
• resiliency
• mindfulness
• being purpose-driven
• guided by analytics and data
• trust
• integrity
• straightforward communication
• role modeling

@MITSLOAN

Where: Los Angeles based

Why now? “Companies and investors across all sectors of commercial real estate — and the financial institutions that fund them — pledged billions to close the racial wealth gap and work to undo the financial legacies of systemic racism. “

How will the funding work?

• Black Impact Fund $1 Billion
• $500M for qualified opportunity zones
• $500M fund for projects near but not in those federally designated areas
• asset appreciation and fees earned to fund the affiliated nonprofit Black Impact Community Fund

Bisnow | LA-Based Fund Aims To Raise $1B For Investments In Black And Brown Neighborhoods

Congressman Andy Levin (MI-9th) legislation looks to have retirement benefits, like in pensions, reflect an individual’s social and political values.

What would legislation require?

• retirees would have be given information about ESG options
• investment managers would also have ESG-oriented financial portfolios available

How are ESG portfolios performing? Generally outperform their counterparts

WDET | Congressman Andy Levin Introduces Legislation Aimed At Sustainable Investments

The local farm: Laughingstock Farm in Maine

What happened 1 day in March: Their sales plummeted by 75% once a lockdown was in effect

So what did the farm do? Road Side booth

What did neighbors do? Bought their products, shared the farm’s information

What did the farm do? Partnered with local ranchers for their meats & local dairy farmers, and saw their business grow

NY Times | A Farm Family’s Business Caved In. Then the Neighbors Showed Up.

This year, consumers are watching corporations like old school spies. They watch how supply chains & employees are being treated, sustainability efforts, diversity, inclusion, and whether companies speak up when it matters. Corporations are watching too. Watching investors fund ESG, sustainability, diversity & inclusion. It matters because people are paying attention. Data is tracking all of this. Investments are going up. Diversity is inching up.

Why is this happening now? I thought shareholders and trickle down were still en vogue. COVID is the common denominator. People weren’t stuck on commutes. People had time to ask- where is that retailer buying its products? Where is that coffee sourced & how is the labor treated? Did that company speak up to support diversity and inclusion? Did it take action? So many eyes are watching now.

What is IoT? the Internet of Things- everything can get hacked- cars, electric locks, pacemakers…

How can consumers get notice of “hack-ability?” Researchers from Carnegie Mellon University’s CyLab Security and Privacy Institute are developing a consumer warning label

Are companies on board? Yes, On December 8, 2020 Apple took a step forward in this direction by requiring App developers to disclose privacy practices.

WSJ | Imagine a Nutrition Label—for Cybersecurity

Where: Georgia

What? The University of Georgia Athletic Association has appointed Courtney Gay as assistant athletic director for diversity, equity, and inclusion.

How did we get here? This summer the Athletic Director called for real responses to our social issues

Atlanta Journal Constitution | Georgia names assistant AD for diversity, equity and inclusion

Meet chief diversity and inclusion officer of Duke Energy, Joni Davis. Get know some of their public statements:

• “2020 really catalyzed those efforts after George Floyd and the race equity movement. Diversity and inclusion were top of mind for so many of our employees and within our communities. “
• “I believe that 2020 ushered in the opportunity to accelerate and really sustain diversity, equity and inclusion like never before. “

Meet chief diversity office of Chevron, Lee Jourdan. Get to know some of their public statements:

• “We are, I think still, the only oil and gas company to use the term “Black Lives Matter.”
• “That was important to us because we recognize the true intent of that term. So, we became public in our support of what was happening in the black community.”
• “That set the tone for our organization to have more vulnerable conversations about what was going on, which built a foundation for sustainable conversations in the future. It has changed a lot. “

CERA Week Conversations

Some say the Biden Administration may call for rules that require greater sustainability disclosures.

What disclosures could be included?

• carbon emissions
• corporate diversity 
• sustainability metrics

Is industry following suit? In 2019, 90% of companies in the S&P 500 index issued sustainability reports, in 2011 it was 20%

What is industry looking for? globally recognized and adopted standard

WSJ | Companies Could Face Pressure to Disclose More ESG Data

Does NASDAQs board diversity proposal mirror other proposals? Yes, it mirrors California’s board diversity requirements

What is NASDAQ calling for its listed companies?

• at least one woman
• at least another director who is either a racial minority or lesbian, gay, bisexual, transgender or queer

How do NASDAQ listed company boards currently stack up? 3/4 of its 3,000 companies don’t meet the standard.

Who else is on board for diversity? Institutional investors like  BlackRock Inc.and State Street Global Advisors have also actively pushed for greater board diversity

WSJ | Companies Face New Pressures to Diversify Boards. It’s Sensitive.

Summer of 2020 shall be defined by the Black Lives Matters.

So, along comes this question to the Texas Attorney General: What duty does an officer have to intervene if he sees another officer violating someone’s rights.

The answer, in Texas: Can’t say that there is an “absolute duty for an officer to intervene”

It gets muddier- the opinion says maybe there is a duty, but it’s a question of fact and our opinions don’t answer questions of fact.

What you need to know: The code sections that would be amended to change this answer: Code of Criminal Procedure article 2.13, Penal Code section 39.03

KP-0343 (2020)

How are shareholders getting companies to act?

• Company engagement
• Proxy Voting
• Shareholder Resolutions

What were the hot topics?

• Political Activity- taking specific positions e.g. Black Lives Matter, MeToo 18%
• Climate Change 15%
• Board Diversity 13%
• Decent Work 12%

CNBC | Shareholders challenge the companies they invest in to promote good in the world

The EU is enacting disclosure rules for ESG investments.

Who is impacted?

• banks
• insurance companies
• pension funds
• investment firms

What would be disclosed?

• Disclosures related to the integration of sustainability risks in the investment decision making process
• The pre-contractual disclosure requirements applicable when products are promoted as having an ESG focus or investment objective
• Disclosures related to whether an investment manager or financial product considers the adverse impacts of investment decisions on sustainability.

Chief Investment Officer | Europe’s ‘Ambitious Plans’ for ESG Disclosure Rules

Legislation in Texas, HB 669 ( 2021 | TX), would allow a judge to order a defendant to make a donation to organizations that assist veterans or organizations that provide charitable services for defendants under community supervision

Where: North East Oklahoma City, an area where more than 1/2 the population is Black

It had been 22 years since the area had a new grocer

The partners for the project:

• Homeland, will operate an employee owned grocery store
• $300,000 Funding from a Social Impact Fund,  Metafund
• Alliance for Economic Development—a private nonprofit—is lining up about $8.5 million through the New Markets Tax Credit program
• $3.5 million in tax increment financing from Oklahoma City

Route Fifty | Two-Decade Push to Build a Grocery in a Food Desert Finally Pays Off

What does Unilever New Zealand hope to achieve with a 4 day workweek?

• improved productivity
• a greater work life balance
• measure performance on output not on time
• keep salaries the same

What is NOT the goal: “If we find that we’re all working the same number of hours as before but in four days, then we’ve missed the opportunity this trial presents us with”

New York Times | A 4-Day Workweek for 5 Days’ Pay? Unilever New Zealand Is the Latest to Try

The study: The 2020 Edelman Trust Barometer Special Report

The results: 92% say investors should apply a premium valuation to companies that excel in environmental, social impact and governance (ESG) initiatives

What else did the study discover from its proprietary investor analysis?

• “social” jumped in ranking from number three last year to number one as the most important ESG factor in the U.S
• “investors clearly believe that a robust ESG strategy has a positive impact on share price and resilience,””
• 89% say shareholder activism will increase as the economy rebounds
• 93% said they are more interested in taking an activist approach investing (up 12% from 2019)

Edelman Study Finds Investors Plan To Intensify Focus On ESG With COVID-19 Recovery; “Social” Jumps To Top Priority Among ESG Factors

The Industry: British Retail Consortium

The advice from the head the British Retail Consortium: “doing the right thing as a board makes for better business for the company, and the environment in which it operates”.

Why does this matter? European Countries are leaders in ESG initiatives with EU rules on EU and active ESG investments

UK Consumer polling:

• 74% think businesses have a responsibility to do social good
• 59% are more likely to shop at a business that is clear about their ethical stance

Professional Jeweller | Socially responsible businesses more likely to survive pandemic, suggests BRC chief

A restaurant in D.C., Mannan, began its story with the usual restaurant service, but at the same time, the owner provided meals to homeless.

When COVID closedowns began Mannan continued feeding homeless even as it saw revenue declines.

Facing closure- its customer base, because of Mannan’s strong community presence from providing food to those in needed, raised the capital for Mannan to continue.

Why is this important? Because when you leave your community with warm and fuzzy feelings about you, they remember your good deeds and offer you their good deeds.

@WashingtonPost on Instagram

The Texas Legislature’s Black Caucus has re-established its Black Caucus Foundation.

The goals of the Foundation:

• provide research and policy analysis
• covering policy issues from curbing police brutality to providing health care for the uninsured

Will the Foundation partner in its work? Yes, it will partner with universities, businesses, religious institutions and other non-profits 

Dallas Morning News | Texas lawmakers revive Black Caucus Foundation to push social justice, empowerment issues

• $791 million to 16 environmental organizations
• favor mainstream organizations
• The mainstream organizations must be innovating and looking for new methods
• Includes Hive Fund for Climate and Gender Justice
• Includes the NDN Collective that funds and supports indigenous-led movements and sustainability initiatives

When did Bezos create the Bezos Earth Fund? February 2020

Wait, isn’t there also an Amazon climate change fund? Yes, Amazon has a $2 billion climate fund will go toward getting more electric vehicles on the roads

The Verge | Jeff Bezos announces first beneficiaries of his $10 billion climate fund

Why are we still talking about more women in business leadership? Because a 2020 study from LeanIn.org & McKinsey & Co. found that American women held less than 40% of corporate management positions

What strategies are employed?

• mentorship
• women speaking up
• recommending women for opportunities
  • Don’t let leaders assume what women want- she just returned from maternity leave so she won’t more work or travel. Let it be her choice.

MIT Sloan School | This KPMG principal leads a team to accelerate women’s careers

Who: The Impact Finance Research Consortium (IFRC)

Who composes the IFRC? Chicago Booth’s Rustandy Center for Social Sector Innovation, the Harvard Business School Impact Collaboratory, and the Wharton Social Impact Initiative of the University of Pennsylvania’s Wharton School

The database goals:

• financial performance
• due diligence practices
• investor relations
• legal governance
• strategy
• management of impact investing funds across the world

U Penn Almanac | Collaboration on Impact Investing Data Collection

SXSW announced its 2021 festival would be virtual/online.

Anyhoo…they opened registration.

@sxsw

What’s the Big Good? A nonprofit to support good doers making a big impact

Who? Grammy winner Leon Bridges, Former TCU Football Coach Gary Patterson & tv Host Chris Harrison

Where is the Big Good Focusing? Ft. Worth/North Texas

The Big Good

The healthcare start up: Ro

Its COVID pivots:

• In March it launched a bill board campaign for staying apart, together.
• Created a free telehealth triage service for people who are seeking guidance and information about the novel coronavirus.
• Developed a support system for mental health care for its employees with a collaborative remote work environment and fostering personal connections

The Drum | Ro the Patient Company: Stay Apart. Together. by Wieden+Kennedy

@initialized on instagram

What does greenwashing mean according to Statestreet? To “give misleading claims about their products or ESG credentials”

Why should we care?

• Big money is flowing into ESG … In Quarter 2 of 2020, $71 billion went into global ESGfunds, making total assets $1.1 trillion across 3,432 funds
• ESG determinations are subjective

What’s an example of an industry not thought of as ESG, but actually is making sustainability strides? Oil and Gas

Wall Street Journal | What Is Greenwashing? Here Is What Investors Need to Know

The winner: UPS

What did the winner do financially ?  Its stock has an above-average ”DividendRank” statistics including a strong 2.4% yield

What ESG, socially responsible investment, characteristics of UPS stock?

• achievements in efficiency in terms of its use of energy and resources
• policies tied to tied to weapons, gambling, tobacco, and alcohol

Nasdaq | UPS Named A Top Socially Responsible Dividend Stock

When “me too” came to the top of zeitgeist, the best advice I heard form a male to other makes was “Don’t be an asshole.”

Apparently this advice wasn’t heeded by the Court of Master Sommeliers. Male court members resigned as investigations over “disturbing patterns of sexual misconduct” that negatively impacted careers of women

Up Next for the Court: Organizational reforms and then new Court leadership

Food & Wine | Chairman of the Court of Master Sommeliers Resigns, Entire Board Will Be Put Up for Election

Los Angeles County Board of Supervisors has 5 members, after the election all 5 members will be women.

The County Board of Supervisors budget oversight: $35 billion

The constituency: Serves 10 million people

ABC 7 Los Angeles | Holly Mitchell makes history with win over Herb Wesson for LA County Board of Supervisors seat

Why did COVID shed light on ESG investing importance?

• COVID reinforced our global interconnectivity
• COVID showed that company’s resilience and contingency planning ability is crucial (this is the S in esg)
• COVID shined sunlight onto how employers viewed labour standards, and employee health and safety measures

National News | How Covid-19 has highlighted the importance of ESG investing

Who received an award for socially responsible sports betting operator in North America? Points Bet

Where does Points Bet have enabling legislation and regulatory approval?

• New Jersey
• Illinois
• Indiana
• Iowa
• Colorado
• Michigan
• Kansas
• Louisiana
• Missouri
• New York
• Ohio
• West Virginia

PointsBet Wins Sports Betting Operator, Socially Responsible Operator and US Rising Star Honors at EGR North America Awards 2020

The UK is adding new elements of social benefit into its contract awarding system.

It’s coming across the pond. Think of the changes to pension investments in major pensions like CALPERs, its happening, and it will happen more.

Procurement Policy Note PPN 06/20 – taking account of social value in the award of central government contracts

Restaurants and kitchen gardens have a long, historical relationship.

COVID is seeing a renaissance in restaurant gardens.

3 Michelin starred restaurant, SingleThread, in Healdsburg, CA is adding 20 acres of gardens.

Not only do the gardens have produce and make their own olive oil to grace their 3 Michelin star tables, but the restaurant also:

• donates to victims of disasters like wildfires through Sonoma Family Meal
• produce goes to local hunger relief organizations through Farm to Pantry

San Francisco Chronicle via Apple News | Michelin-starred restaurant SingleThread is set to dramatically grow its farming operation

This November voters in several states voted to amend their state constitutions to remove racism.

The list of BLM constitutional amendments:

• 67% of Alabama voters approved the removal of language that bans mixed-race marriage, allows poll taxes and mandates school segregation
• 68% of Nebraska voters approved the removal of slavery or involuntary servitude as criminal punishments
• 81% of Utah voters approved the removal of slavery and involuntary servitude as criminal punishments
•  72% of Mississippi voters approved a “In God We Trust” flag to replace the state flag that contained a Confederate battle cross
  

Forbes | Alabama, Utah, Nebraska Remove Racist Language From State Constitutions

Where: Louisville, KY

Who: Lindsey Ofacek & Edward Lee co-founders of the Lee Initiative

What did the Lee Initiative Do? Joined forces with Maker’s Mark and and 19 partner restaurants to provide 400,000 meals

What initiatives came from the food relief? a program to help local farmers & a relief program for local restaurants

leeinitiative.org

featured in Southern Living November 2020

How many governmental entities have declared racism a public health crisis?  more than 130 cities, counties, and states

What does this mean? It means recognizing the connections when there are high maternal mortality rates for Black women or high asthma rates because of pollution in black neighborhoods

What changed to make this switch? COVID. Racial inequalities were highlighted & policymakers began to see examples of how things like housing and education and health care connect

Policymakers believe COVID became the paradigm shift that was needed to effectuate change.

Route Fifty | Cities Declared Racism a Public Health Crisis. What Now?

1st it makes news.

Here’s why the CEO did it:

• It was a necessity
• “We needed to stand true for what we believe in and hope that most people agree with us,”
• “If President Donald Trump were reelected it would “damage our democracy to such an extent, I’m obligated on behalf of shareholders to take any action I can to avoid it.”

Could it be the CEO’s midwestern roots? Maybe

Bloomberg | Expensify CEO Emails 10 Million Customers Urging Them to Vote for Biden

Local news digging into corporate social responsibility. This is AFLACs 6th year of a survey of its customers on the importance of AFLAC engaging in community issues and stakeholder capitalism.

COVID and generational difference in viewing whether companies should act for the better of society. GenX and younger are more apt to support corporate social responsibility.

Experts say more money is flowing into companies that have a track record of social responsibility.

512 EXPERTS | Aflac Talks Corporate Social Responsibility

@mhaestheticsusa suggests cutting the straps on your mask before disposing of it so as to not cause harm to animals that could get caught in the straps.

New Jargon: Corporate Citizenship

Who is using the term? Accenture

What elements are they attaching to corporate citizenship?

• Social impact. Closing the skills gap in tech
• Environment. Climate Change. Yes, they use this exact phrase.
• Inclusive. No barriers.
• Supply chain. Safe and responsible.
• Core Values. Doing Business ethically and with integrity

What the CEO says: “The time for increased commitment and action is now, and SDG Ambition is a bold and practical response to this timely and urgent call to action.” – Julie Sweet, CEO

Accenture | Corporate Citizenship Report

Who is making the community gift? Bank of America

Which community? North Texas

What will the Bank of America $920K gift fund? helping youth in low-to-moderate-income communities including Boys & Girls Club, Big Thought, and 24 other non-profits

Dallas Innovates | Bank of America Is Making a $920K Investment in North Texas Nonprofits to Advance Economic Equity

Hotels and COVID not a great match.

Some property developers, thinking outside the box, are taking abandoned hotels and converting them to affordable living for seniors.

In addition to affordable housing to seniors, the project’s social impact will include:

• No fossil fuels. fully electric building.
• Energy-efficient lighting and kitchen appliances
• High-quality ventilation
• Community space with indoor and outdoor areas

West Side | Former Hotel is One Step Closer to Becoming Senior-Friendly Affordable Housing Using ‘Fully Electric’ Energy

The Insurance Company? Nippon

The ESG call: ESG standards for all Nippon investments and loans

Why?

• High ESG ratings = superior in management transparency

Japan Times | Nippon Life to adopt ESG evaluation for all investments and loans

Who: Repair Smith

What’s Repair Smith’s goal? to reimagine car repair, make it more convenient and help non-profits

Where is RepairSmith operating? California, Nevada, and Arizona

What pledges did it make during the pandemic?  $125,000 worth of repair services to those in need–namely essential workers on the frontlines

Inc. | This Startup Is Rethinking How to Do Car Repairs–and How to Give Them Away for Free

• 62.5% of the global asset managers who responded to an  ISS ESG survey highlighted labour practices, diversity and safety
• 44.1% expect future ESG ratings to place a greater weight on issues of workplace safety, diversity and supply chain labour
•  37.5% have added staff to cover ESG issues

Covid-19 pandemic has had a major influence on many investors’ thinking in terms of ESG research and integration

Investment Executive | Social issues rising on asset managers’ radar: ISS ESG

Who did the analysis? The Wall Street Journal

What did the WSJ produce?  A Ranking of the top 100 companies in the world’s most sustainably managed companies.

What factors are considered?

• A scoring system compared 5,500+ publicly traded companies world-wide
• considering social capital
• the environment
• human capital
• business model/innovation
• following the framework of the Sustainability Accounting Standards Board

The industries leading in social responsibility?

• Pharmaceuticals
• Biotech
• Banking

Wall Street Journal | Pharmaceutical, Biotech and Banking Companies Lead the Way in Social Responsibility

What 3 tech innovations can build CSR?

• Open Source. Open Source fundamentally requires collaboration
• Shared Purpose lead to interoperable solutions
• Cross sector collaboration to innovate across sectors to provide broader societal impact

Jaxenter | Technology as a Source for Good

New York Governor signed legislation declaring Juneteenth an official state holiday.

@NYGovCuomo on Twitter

Where: Australia

Which social impact bond in Australia? Newpin Social Benefit Bond that sought to  restore children in out-of-home care to the care of their parents by creating and supporting safe family environments.

How did it perform over 7 years?

• 400 children restored to the care of their families
• 10% return to the bond investors

Keys to the social impact bond success:  An institutional investor

Pro Bono Australia | Australia’s first social impact bond delivers for families and investors

The App: Zoom Ride

The safety options:

• female riders can request female drivers
• the app has a panic button for safety that sends live audio and video inside the vehicle to Zoom Ride headquarters
• sanitizing lights
• sneeze guards
• free masks for all drivers and riders

MyZoomRide.com

Detroit Metro Times | Michigan-based rideshare app has panic button, ability for female passengers to request female drivers

This caught our attention this week: A tech hub for the public good? Developing technology that matters in Northern Virginia

Why is it attention getting?

• it’s the sign of the new economy
• it’s economic development recruitment using social impact as a lure
• it’s tech focused specifically

Vital Farms had an IPO this year raising $200 million in capital.

Vital Farms by the numbers:

• 2007, 20 hens on 27 acres
• 2020 joined a small group of publicly traded B Corps
• In 13 years became the largest U.S. pasture-raised egg brand in the U.S.

Forbes | Vital Farms IPO Shows Acceptance Of Stakeholder Versus Stockholder Values On The Market

@VitalFarms on Instagram

Hint: There are none.

We all know we’re in a new economy that has a greater emphasis on social impact, esg investing, and corporate responsibility.

What economy were we in before? Stakeholder Capitalism as coined by Milton Friedman

What was the first step to the new economy? The August 2019 announcement by the Business Roundtable in D.C. that the purpose of business is changing

Did the Business Roundtable statement work? Yes according to this analysis by the Wall Street Journal , this analysis also by Just Capital & this analysis of profit in doing good by Motley Fool

What faulty assumptions are made by both sides on whether social impact acting businesses are good or bad for profit?

• that businesses should be run like activist social organizations
• that companies never have to choose between business success and social responsibility 
• that social impact changes will occur overnight in their business structures
• that every company works on the same time table, software companies can reach carbon neutrality faster than fossil fuel companies

What’s the timeline to transition into an economy focused on social impact? it took 2 decades to adopt shareholder capitalism

Washington Post | The right formula for managing a socially responsible company? There is none.

Le Bron James has recruited 10,000 poll volunteers in Black districts in 3 cities- Detroit, Philadelphia & Cleveland.

How did he do this? Through his voting organization,  More Than A Vote 

The voting volunteer program,  “We Got Next,” is a partnership with the NAACP Legal Defense Fund

Phase 2 will add 11 cities, including 2 in Texas: southern Black voter hubs such as Birmingham, Ala.; Jackson, Miss.; Houston and San Antonio.

@theHill on Twitter

The Hill | LeBron James recruits 10,000 poll volunteers to assist in Black districts

The NFL Team: Carolina Panthers

The cleaning method: a UV light robot that can eliminate COVID in minutes

Who makes the robot? San Antonio-based company Xenex

Which industry typically utilizes this form of cleaning? Health care

The science: “pulsed xenon, a noble gas, to create Full Spectrum, high-intensity UV light that quickly destroys infectious germs.”

CNBC | The Carolina Panthers will use a $125,000 virus-killing robot in their stadium as fans return with Covid-19 restrictions

The country: Iceland

Why did Icelandic leaders do this? Because “Investors, financial companies, institutions and governments therefore play an important role in shaping the economy and communities.”

Which 3 entities work together to ensure the economic success in Iceland? governments, private industry and financial institutions

Environmental goals of the signatories?  

• national carbon-neutrality by 2040
• Paris Agreement goal of cutting greenhouse gas emissions to keep global warming below 1.5°C
• United Nations’ global goals for sustainable development

Is the letter open for additional signatures? Yes

IPE | Iceland’s pension funds sign sustainable investment declaration

How is California integrating ESG into its investments and policies? A partnership between the U.N.-supported Principles for Responsible Investment & UC Berkeley Law’s Center for Law, Energy & the Environment.

There’s 40 recommendations, and here are the high priority items:

• The State of California, led by the Governor or State Treasurer or State Controller, should convene a Task Force on Responsible Investment.
• All institutional investors should integrate material ESG factors into investment processes and decision-making to the fullest extent possible.
• Public pension funds should develop governance structures that encourage better long- term and data-driven ESG investment decision-making.
• Public pension funds should require that investment consultants and investment managers consider ESG factors in providing investment advice or investment management.
• The state legislature should enact legislation directing financial advisors (including investment advisors, broker-dealers, and others) that are licensed and regulated by the Department of Business Oversight to ask retail investors if they have a preference for investments that consider ESG factors and to offer them ESG-aligned investment opportunities.
• The state legislature should mandate climate risk disclosure or Task Force on Climate- Related Financial Disclosures reporting for all publicly traded companies incorporated or headquartered in California.
• The state legislature should direct mandatory climate risk stress testing for financial institutions (state-chartered banks, credit unions, mortgage lenders, and others) under the jurisdiction of the Department of Business Oversight.
• The State Treasurer, Controller, and Director of Finance should leverage their positions on the boards of state financing authorities to add ESG-related disclosure requirements for state financing.
• The Department of Insurance should undertake climate risk stress testing of insurer underwriting and investment portfolios, annually conduct climate risk scenario analysis of insurers’ investment portfolios, and require insurers to identify, analyze and address climate risks to their underwriting and investment portfolios.
• California insurers should integrate ESG considerations into their operations and investment decision-making.

Pensions & Investments | Road map for California ESG integration unveiled

Principles for Responsible Investing | The California Responsible Investment Roadmap

Who: American Homebuilders of West Africa & Genuine Interest

What will be funded: Social housing focused on homes that will sell for $10,000 to $20,000

American Homebuilders of West Africa | Impact Fund Genuine Interest Announces Strategic Investment in American Homebuilders of West Africa

The State: Missouri

The data to be collected concerning the social and economic impact of COVID:

• Food Bank levels
• Food Samp Assistance
• Unemployment Assistance
• Childcare Assistance
• Energy Assistance
• TANF
• Abuse Rates
• Building Permits
• Consumer Spending

Show Me Strong Recovery Plan | Data

KMOU | State expands COVID-19 dashboards, includes social and economic impacts

We’ve seen the bubbles or pods for outdoor dining.

Meet the dog that carries a long stick to keep people the right distance from their humans.

Even if this dog is an internet meme, some company is going to take the idea and run with it OR maybe this is a new regulatory category for service dogs. What do your state’s regulations say about service animals?

Republic World | ‘Socially Responsible’ Dog Carries Stick Along To Keep People Away Amid COVID-19

• She suggested that Uber could provide 10 million free rides and meals to people in need around the world.
• Julia Page started her position at Uber in February 2020 she added these COVID related measures for Uber:
  •  coordinating ways for essential workers to get to and from work
  • helping medical equipment companies to transport resources to hospitals

Best Advice she ever received: “They’re going to think you got something because you’re Black. And they’re going to think you got something because you’re a woman. You prove you got it because you’re the best, and don’t worry about anything else.”

Worst Advice she ever received: “You really need to think about your career path and what you’re going to do down the line.” She chose to follow her interests and curiosity

Bustle | Uber’s Julia Paige On Navigating A Male-Dominated Industry