ESG Impact, Risk & opportunities public analysis

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        "partners": [],
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        "website": "https://www.econocom.be/nl"
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    "iros": [],
    "iros_per_materiality": {
        "negative_impacts": [],
        "opportunities": [],
        "positive_impacts": [],
        "risks": []
    },
    "iros_per_matters": {},
    "materiality_matters": [
        "Climate Change",
        "Pollution",
        "Water and marine resources",
        "Biodiversity and ecosystems",
        "Circular Economy",
        "Own workforce",
        "Workers in the value chain",
        "Affected communities",
        "Consumers and end-users",
        "Business conduct"
    ],
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                    "source": "https://support.microsoft.com/en-us/office/how-to-correct-a-n-a-error-a9708411-f82e-4e1b-8a7e-28c28311b993"
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                    "source": "https://investors.hancockwhitney.com/financial-reports/financial-highlights/default.aspx"
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                "page_content": "Please enable cookies.\n\n#  Sorry, you have been blocked\n\n##  You are unable to access  web.prd.q4inc.com\n\n##  Why have I been blocked?\n\nThis website is using a security service to protect itself from online\nattacks. The action you just performed triggered the security solution. There\nare several actions that could trigger this block including submitting a\ncertain word or phrase, a SQL command or malformed data.\n\n##  What can I do to resolve this?\n\nYou can email the site owner to let them know you were blocked. Please include\nwhat you were doing when this page came up and the Cloudflare Ray ID found at\nthe bottom of this page.\n\nCloudflare Ray ID: **9355f6088e73d0b7** \u2022  Your IP:  2600:1900:0:3701::501  \u2022\nPerformance & security by  [ Cloudflare ](https://www.cloudflare.com/5xx-\nerror-landing)\n\n",
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                    "source": "https://www.kone.com/en/investors/shareholders/major-shareholders-and-ownership-structure/"
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                "page_content": "Back to top\n\nAntti Herlin's ownership represents over 50 percent of KONE Corporation's\nvoting rights. Antti Herlin therefore exercises controlling power in KONE\nCorporation. In the shareholder table, the shares owned by KONE Corporation\nare displayed on their own row and are not included in the shares controlled\nby Antti Herlin.\n\nExcluding Antti Herlin's ownership, shareholders are not grouped in the table\nbelow. The table does not include nominee-registered shareholders. The\nShareholders list is updated monthly.\n\nNote that the archived information from before December 2013 is not split-\nadjusted. The latest split of the KONE share occurred in December 2013 with\nthe ratio 1:2. For information on previous share splits, see dividends and\nsplits.\n\n##  KONE - Investors\n\n##  KONE - Investors\n\n##  KONE - Investors\n\nAntti Herlin\u2019s ownership of Holding Manutas represents 1.1% of the shares and\n12.8% of the voting rights and together with the ownership of Security\nTrading, company in which he exercises controlling power, his ownership\nrepresents 51.0% of the shares and 62.7% of the voting rights.\n\nAntti Herlin\u2019s ownership of Security Trading Oy represents 56.4% of the shares\nand 57.5% of the voting rights. Together with the ownership of his children\nAntti Herlin\u2019s ownership in Security Trading Oy represents 99.9% of the shares\nand 99.8% of the voting rights.\n\n",
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                    "source": "https://www.sciencedirect.com/science/article/pii/S0148296322000613"
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                "page_content": "Skip to main content\n\n#  Are you a robot?\n\nPlease confirm you are a human by completing the captcha challenge below.\n\nEnable JavaScript and cookies to continue\n\n  * **Reference number:** 9355f607fb572a6a \n  * **IP Address:** 34.96.35.11 \n  *   * \n\n[ ](https://www.elsevier.com/)\n\n  * [ About ScienceDirect  ](https://www.elsevier.com/solutions/sciencedirect)\n  * [ Remote access  ](/user/institution/login?targetURL=%2F)\n  * [ Shopping cart  ](https://science-direct-checkout.staging.ecommerce.elsevier.com/?)\n  * [ Advertise  ](https://www.elsmediakits.com)\n  * [ Contact and support  ](https://service.elsevier.com/app/contact/supporthub/sciencedirect/)\n  * [ Terms and conditions  ](https://www.elsevier.com/legal/elsevier-website-terms-and-conditions)\n  * [ Privacy policy  ](https://www.elsevier.com/legal/privacy-policy)\n\nCookies are used by this site.\n\nAll content on this site: Copyright \u00a9 2024 Elsevier B.V., its licensors, and\ncontributors. All rights are reserved, including those for text and data\nmining, AI training, and similar technologies. For all open access content,\nthe relevant licensing terms apply.\n\n[ ](https://www.relx.com/)\n\n",
                "url": "https://www.sciencedirect.com/science/article/pii/S0148296322000613"
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                    "source": "https://www.walleniuswilhelmsen.com/who-we-are/investors"
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                "page_content": "#  Investor Relations\n\nWallenius Wilhelmsen strives to be available and to pursue a professional,\ntransparent and active dialogue with investors and analysts. Wallenius\nWilhelmsen is committed to disclose and share relevant information in a\ntimely, reliable and accurate manner with all financial stakeholders in\naccordance with relevant legal requirements and sound corporate governance\nprinciples. The objective is to ensure equal treatment of all stakeholders and\nfair valuation of the Wallenius Wilhelmsen share.\n\n[ Subscribe to stock exchange notices\n](https://live.euronext.com/en/listview/company-press-release/170741) [ Stock\nprice development\n](https://live.euronext.com/en/product/equities/NO0010571680-XOSL)\n\n9,500+\n\nEmployees across 28 countries\n\n~125\n\nVessels in operation\n\n7\n\nTerminals\n\n66\n\nProcessing centers\n\nInvestor relations policy\n\nThis investor relations policy (the \"IR Policy\") applies to Wallenius\nWilhelmsen ASA (\"WAWI\" or the \"Company,\" and together with its consolidated\nsubsidiaries, the \"Group\"). **  \n  \n  \nPurpose **  \nThe IR Policy shall help WAWI build trust and awareness in the investor\ncommunity by ensuring that investor relations activities comply with relevant\nrules, regulations, and recommended practices.  \n  \nThe IR Policy aims to ensure that WAWI appropriately provides adequate,\ntimely, and trustworthy disclosure of relevant information to the financial\ncommunity. Furthermore, the communication with the market shall be based on\ntransparency and equal treatment of all stakeholders and be in accordance with\nrelevant legal requirements and sound corporate governance principles. **  \n  \n  \nShareholder contact and communication with the financial market **  \nThe IR team is responsible for all contact with WAWI shareholders on behalf of\nthe Company. The objective is to provide sufficient information on a timely\nbasis to all market participants to ensure a fair valuation of WAWI shares.\nAll WAWI shareholders shall receive equal treatment to access the company's\ninformation.  \n  \nWAWI holds regular meetings with analysts, investors, media, and employees,\nall material and latest information are shared via main communication channels\n\u00e2\u0080\u0093 stock exchange releases, press releases, and the Company webpage\n(www.walleniuswilhelmsen.com). This ensures that identical information is made\navailable simultaneously to all audiences. WAWI will provide a consistent\nlevel of information regardless of whether the news is positive or negative.\n**  \n  \n  \nDisclosure of Information **  \nWAWI provides a prospects statement each quarter including information on\noutlook and potential risks but does not guide on results. The IR team will\nalways put their best efforts into providing comprehensive and informative\nanswers to investors and analysts. However, WAWI will not aim to influence the\nanalyst's recommendations, opinions, and conclusions. **  \n  \n  \nAuthorizations **  \nWAWI spokespersons to financial markets are the Chief Executive Officer, the\nChief Financial Officer, VP Investor Relations, and/or others authorized by\nthese. Questions from investors and financial analysts to other WAWI personnel\nshall be referred to IR. All meetings with investors and financial analysts\nshall be arranged/coordinated by IR, and presentation materials for such\nmeetings shall be prepared or approved by the IR team.  \n**  \n  \nIR events **  \nBased on demand and Company initiative, management will regularly participate\nin meetings with international and domestic investors, analysts, and media, to\nraise awareness of and create interest in the Company. WAWI communicates with\nall investors and analysts through organizing:  \n  \n\u00e2\u0080\u0090 Annual general meeting (annually)  \n\\- Quarterly results presentations (quarterly)  \n\u00e2\u0080\u0090 Investor and analyst meetings  \n\u00e2\u0080\u0090 Capital market days  \n\\- Other events such as conferences and seminars  \n**  \n  \nSilent Period **  \nFour weeks before the planned release of quarterly financial reports \u00e2\u0080\u0093 the\nsilent period \u00e2\u0080\u0093 the company will not comment on matters related to its\ngeneral financial results or expectations, and contact with external analysts,\ninvestors and journalists will be minimized. The purpose of a silent period is\nto reduce the risk of information leaks and of providing potentially unequal\ninformation to the market. **  \n  \n  \nCompliance **  \nWallenius Wilhelmsen ASA shall comply with relevant regulations for companies\nlisted on the Oslo Stock Exchange.  \n  \n  \nUpdated: 08.02.2023\n\nFinancial calendar\n\nFour weeks before the announcement of quarterly results, Wallenius Wilhelmsen\npractices a \"silent period\" meaning that contact with external analysts,\ninvestors and journalists is minimized. This is done to minimize the risk of\ninformation leaks and potentially unequal information in the marketplace\n\n###  Financial events\n\nEvent  |  Date   \n---|---  \nQ4 2024 - Quarterly Report  |  12 February 2025   \n2024 - Annual report  |  21 March 2025   \nAnnual General Meeting  |  29 April 2025   \nQ1 2025 - Quarterly Report  |  08 May 2025   \nQ2 2025 - Quarterly Report  |  12 August 2025   \nQ3 2025 - Quarterly Report  |  05 November 2025   \n  \n  \n  \n\nFour weeks before the announcement of quarterly results, Wallenius Wilhelmsen\npractices a \"silent period\" meaning that contact with external analysts,\ninvestors and journalists is minimized. This is done to minimize the risk of\ninformation leaks and potentially unequal information in the marketplace\n\n###  Financial events\n\nEvent  |  Date   \n---|---  \nQ4 2023 - Quarterly Report  |  14 February 2024   \n2023 - Annual report  |  15 March 2024   \nAnnual General Meeting  |  30 April 2024   \nQ1 2024 - Quarterly Report  |  08 May 2024   \nQ2 2024 - Quarterly Report  |  13 August 2024   \nQ3 2024 - Quarterly Report  |  30 October 2024   \n  \nAnnual report 2024\n\n  \n[ View report ](https://www.walleniuswilhelmsen.com/who-we-\nare/investors/annual-report)\n\nReports and presentation\n\n* * *\n\n[ 2024 Capital Markets Day Presentation ](/storage/images/Wallenius-\nWilhelmsen-2024-CMD.pdf)  \n---  \n  \n[ Climate risk investor presentation August 2023 ](/storage/images/Wallenius-\nWilhelmsen-climate-risk-investor-meeting.pdf)  \n---  \n[ Sustainability-linked bond presentation August 2023\n](/storage/images/230814-WAWI-Bond-Investor-Presentation.pdf)  \n[ Investor presentation March 2023 ](/storage/downloads/WAWI-investor-\npresentation.pdf)  \n[ Sustainability investor presentation January 2023\n](/storage/images/230118-WAWI-Sustainability-investor-presentation.pdf)  \n  \n[ Investor Presentation December 2022 ](/storage/images/WAWI-investor-\npresentation-December.pdf)  \n---  \n[ Investor Presentation January 2022\n](https://www.walleniuswilhelmsen.com/storage/downloads/220111-WAWI-Investor-\nPresentation-SEB-Nordic-Seminar.pdf)  \n[ Sustainability investor presentation February 2022\n](https://www.walleniuswilhelmsen.com/storage/downloads/220218-WalWil-\ninvestor-climate-risk-meeting.pdf)  \n[ Sustainability-linked bond presentation April 2022\n](/storage/images/220404-WAWI-SLB-Investor-Presentation.pdf)  \n  \n[ Investor Presentation January 2021\n](https://www.walleniuswilhelmsen.com/storage/images/210104-WALWIL_SEB-Nordic-\nSeminar-2021pdf.pdf)  \n---  \n[ Fixed Income Investor calls August 2021\n](https://www.walleniuswilhelmsen.com/storage/images/210818-WAWI-Bond-\nInvestor-Presentation.pdf)  \n  \n[ Annual Report 2020 (pdf)\n](https://www.walleniuswilhelmsen.com/storage/images/Wallenius-\nWilhelmsen_Annual-Report-2020.pdf)  \n---  \n[ Investor Presentation April 2020 (pdf)\n](https://www.walleniuswilhelmsen.com/storage/downloads/Investor-presentation-\nApril-2020.pdf)  \n[ Fixed Income Investor calls August 2020 (pdf)\n](https://www.walleniuswilhelmsen.com/storage/images/Wallenius-Wilhelmsen-\nFixed-income-investor-presentation-Aug-2020.pdf)  \n  \n[ Sustainability report 2019\n](https://www.walleniuswilhelmsen.com/storage/downloads/Wallenius-Wilhelmsen-\nSustainability-Report-2019.pdf)  \n---  \n[ Annual report 2019\n](https://www.walleniuswilhelmsen.com/storage/downloads/Wallenius-Wilhelmsen-\nAnnual-Report-2019.pdf)  \n[ Capital markets day (pdf)\n](https://www.walleniuswilhelmsen.com/storage/downloads/wallenius-wilhelmsen-\ncapital-markets-day-2019_191119_114442.pdf)  \n[ Capital markets day (watch recording)\n](https://companycast.live/webcast/3e3089y2/)  \n  \n[ Sustainability report 2018\n](https://www.walleniuswilhelmsen.com/storage/downloads/Wallenius_Wilhelmsen_Sustainability_report_2018.pdf)  \n---  \n[ Annual report 2018\n](https://www.walleniuswilhelmsen.com/storage/downloads/Wallenius_Wilhelmsen_Annual_report_2018.pdf)  \n[ Capital Markets Day 2018 (pdf)\n](https://www.walleniuswilhelmsen.com/storage/downloads/2018-capital-markets-\nday-presentations.pdf)  \n[ Capital Markets Day 2018 (recording)\n](https://companycast.live/webcast/2e51patc/)  \n[ Roadshow ](https://www.walleniuswilhelmsen.com/storage/downloads/wallenius-\nwilhelmsen-asa-fixed-income-roadshow-aug-2018.pdf)  \n  \n[ Annual report ](/storage/images/WWL-Annual-Report-2017.pdf)  \n---  \n[ Capital Markets Day 2017 (pdf)\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-asa-capital-\nmarkets-day-2017.pdf)  \n[ Roadshow ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-asa-\nroadshow-2017.pdf)  \n  \n[ Annual report ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nannual-report-2016.pdf)  \n---  \n  \n[ Annual Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Annual-Report-\nfor-period-end-31-Dec-2015-English-PDF.pdf)  \n---  \n  \n[ Annual Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Annual-Report-\nfor-period-end-31-Dec-2014-English-PDF.pdf)  \n---  \n  \n[ Annual Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Annual-Report-\nfor-period-end-31-Dec-2013-English-PDF.pdf)  \n---  \n  \n[ Annual Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Annual-Report-\nfor-period-end-31-Dec-2012-English-PDF.pdf)  \n---  \n  \nQ1\n\n* * *\n\n[ Report ](/storage/images/Wallenius-Wilhelmsen-Q1-2024.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-Q1-Quarterly-\npresentation.pdf)\n\n[ Factsheet ](/storage/images/Wallenius-Wilhelmsen-Q1-2024-Fact-Sheet-v1.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240508_8)\n\nQ2\n\n* * *\n\n[ Report ](/storage/images/Wallenius-Wilhelmsen-Q2-2024.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-Q2-Quarterly-\npresentation_2024-08-13-113822_wgok.pdf)\n\n[ Factsheet ](/storage/images/Wallenius-Wilhelmsen-Q2-2024-Fact-Sheet.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240813_1)\n\nQ3\n\n* * *\n\n[ Report ](/storage/images/Wallenius-Wilhelmsen-Q3-2024.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-24-Q3-Quarterly-\npresentation.pdf)\n\n[ Factsheet ](/storage/images/Wallenius-Wilhelmsen-Q3-2024-Fact-Sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20241030_2/)\n\nQ4\n\n* * *\n\n[ Report ](/storage/images/Wallenius-Wilhelmsen-Q4-2024-report.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-Q4-24-Quarterly-\npresentation.pdf)\n\n[ Factsheet ](/storage/images/Wallenius-Wilhelmsen-Q4-2024-Fact-Sheet.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250212_6)\n\nQ1\n\n* * *\n\n[ Report ](/storage/images/Q1-2023-quarterly-report.pdf)\n\n[ Presentation ](/storage/images/Q1-2023-quarterly-presentation.pdf)\n\n[ Fact sheet ](/storage/images/Q1-2023-Fact-sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20230504_6/)\n\nQ2\n\n* * *\n\n[ Report ](/storage/images/Q2-2023-quarterly-report-Wallenius-Wilhelmsen.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-Q2-quarterly-\npresentation.pdf)\n\n[ Fact sheet ](/storage/images/Q2-2023-Fact-sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20230815_1/)\n\nQ3\n\n* * *\n\n[ Report ](/storage/images/Wallenius-Wilhelmsen-Q3-2023-Quarterly-Report.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-23-Q3-quarterly-\npresentation.pdf)\n\n[ Factsheet ](/storage/images/Wallenius-Wilhelmsen-Q3-2023-Fact-sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20231101_6/)\n\nQ4\n\n* * *\n\n[ Report ](/storage/images/Wallenius-Wilhelmsen-Q4-2023-Quarterly-Report.pdf)\n\n[ Presentation ](/storage/images/Wallenius-Wilhelmsen-Q4-Quarterly-\npresentation_2024-02-15-184215_upoa.pdf)\n\n[ Factsheet ](/storage/images/Wallenius-Wilhelmsen-Q4-2023-Fact-sheet.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240214_6)\n\nQ1\n\n* * *\n\n[ Report ](/storage/images/Q1-2022-quarterly-report-and-financial-results.pdf)\n\n[ Presentation ](/storage/images/Q1-2022-quarterly-presentation.pdf)\n\n[ Fact sheet ](/storage/images/Q1-2022-IR-fact-sheet.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/landingpage/hegnarmedia/20220504_10/)\n\nQ2\n\n* * *\n\n[ Report ](/storage/images/Q2-2022-quarterly-report.pdf)\n\n[ Presentation ](/storage/images/Q2-2022-quarterly-presentation_updated.pdf)\n\n[ Fact sheet ](/storage/images/Q2-2022-IR-fact-sheet-1.xlsx)\n\n[ Webcast\n](https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flandingpage%2Fhegnarmedia%2F20220817_12%2F&data=05%7C01%7CAndre.Ediassen%40walwil.com%7C537acad625584733d69f08da73a98c9b%7Ccdffb2cf96864fe1ae6424e2074f2a7e%7C0%7C0%7C637949469295329085%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=GEkOJhdGj2XvVqKxaXgoKd2Bn%2FTpkzRNBPspJgUkEQc%3D&reserved=0)\n\nQ3\n\n* * *\n\n[ Report ](/storage/images/Q3-2022-quarterly-report.pdf)\n\n[ Presentation ](/storage/images/Q3-2022-quarterly-presentation_final.pdf)\n\n[ Fact sheet ](/storage/downloads/Q3-2022-Fact-sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20221102_8/)\n\nQ4\n\n* * *\n\n[ Report ](/storage/downloads/Q4-2022-report.pdf)\n\n[ Presentation ](/storage/downloads/Q4-2022-quarterly-presentation.pdf)\n\n[ Fact sheet ](/storage/downloads/Q4-2022-Fact-sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20230208_5/)\n\nQ1\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/images/Q1-2021-Quarterly-report-\nand-results_final.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/images/Q1-2021-Quarterly-report-\npresentation_final.pdf)\n\n[ Fact sheet ](https://www.walleniuswilhelmsen.com/storage/images/Q1-2021-IR-\nfact-sheet_final.xlsx)\n\n[ Webcast\n](https://event.on24.com/wcc/r/3163064/778ECDA7E45424EC75800319E78AFF39)\n\nQ2\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/images/Q2-2021-WAWI-\nfinancial-report-and-results_final.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/images/Q2-2021-WAWI-\npresentation.pdf)\n\n[ Fact sheet ](https://www.walleniuswilhelmsen.com/storage/images/Q2-2021-IR-\nfact-sheet_final2.xlsx)\n\n[ Webcast\n](https://event.on24.com/wcc/r/3359287/8BF726C4DF6FC6AE03FCA6390714482F)\n\nQ3\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/downloads/Q3-2021-WAWI-\nquarterly-report-and-financial-results.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q3-2021-WAWI-\nQuarterly-report-presentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q3-2021-IR-fact-\nsheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20211110_5/)\n\nQ4\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q4-2021-Quarterly-\nreport-and-results.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q4-2021-Quarterly-\nreport-presentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q4-2021-IR-fact-\nsheet.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20220209_6)\n\nQ1\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q1-2020-Quarterly-\nreport-to-market.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q1-2020-Quarterly-\nreport-presentation_Final.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q1-2020-IR-fact-\nsheet_corr.xlsx)\n\n[ Webcast ](https://companycast.live/player/17e71222/)\n\nQ2\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/images/Q2-2020-Quarterly-\nreport.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/images/Q2-2020-Quarterly-report-\npresentation.pdf)\n\n[ Fact sheet ](https://www.walleniuswilhelmsen.com/storage/images/Q2-2020-IR-\nfact-sheet.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/5462e604/)\n\nQ3\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/images/Q3-2020-Quarterly-\nreport.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/images/Q3-2020-Quarterly-report-\npresentation.pdf)\n\n[ Fact sheet ](https://www.walleniuswilhelmsen.com/storage/images/Q3-2020-IR-\nfact-sheet.xlsx)\n\n[ Webcast\n](https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20201111_6)\n\nQ4\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/images/Q4-2020-quarterly-\nreport_final.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/images/Q4-2020-Quarterly-report-\npresentation.pdf)\n\n[ Fact sheet ](https://www.walleniuswilhelmsen.com/storage/images/Q4-2020-IR-\nfact-sheet.xlsx)\n\n[ Webcast ](https://channel.royalcast.com/landingpage/hegnarmedia/20210210_2/)\n\nQ1\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q1-2019-report.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/q1-2019-presentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/q1-2019-fact-\nsheet.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/4e58gf1p/)\n\nQ2\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q2-2019-report.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/q2-2019-presentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/q2-2019-fact-\nsheet.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/29e60qgh/)\n\nQ3\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/images/Investor-\nrelations/Q3-2019/Q3-2019-Report.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/images/Investor-\nrelations/Q3-2019/Q3-2019-Quarterly-report-presentation.pdf)\n\n[ Fact sheet ](https://www.walleniuswilhelmsen.com/storage/images/Investor-\nrelations/Q3-2019/Q3-2019-Fact-sheet.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/8e43lsmy/)\n\nQ4\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q4-2019-Quarterly-\nreport-19-Feb.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q4-2019-Quarterly-\nreport-presentation_FINAL-corrected.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/Q4-2019-Fact-\nsheet.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/4e25wbdk/)\n\nQ1\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q1-2018-report.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/q1-2018-presentation.pdf)\n\n[ Fact sheet ](/storage/images/Q1-2021-IR-fact-sheet_final.xlsx)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=83480728)\n\nQ2\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q2-2018-quarterly-\nreport.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/q2-2018-presentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/q2-2018-fact-\nsheet.xlsx)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=93227007)\n\nQ3\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q3-2018-report.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/q3-2018-quarterly-\npresentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/q3-2018-fact-\nsheet.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/55e48xqx/)\n\nQ4\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q4-2018-report.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/q4-2018-presentation.pdf)\n\n[ Fact sheet\n](https://www.walleniuswilhelmsen.com/storage/downloads/q4-2018-fact-\nsheet_corrected.xlsx)\n\n[ Webcast ](https://companycast.live/webcast/8e50bmam/)\n\nQ1\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q1-2017-report.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q1-2017-presentation.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=54324087)\n\nQ2\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q2-2017-report.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q2-2017-presentation.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=58380163)\n\nQ3\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q3-17-report-and-financial-statement.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q3-presentation.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=67474006)\n\nQ4\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-asa-\nreport-to-market-q4-17.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwl-\nasa-q4-17-presentation.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=77790832)\n\nQ1\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q1_2016_wwasa_quarterly-\nreport.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nmarket-finance-presentation-q1-2016-web-ose.pdf)\n\nQ2\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa_q2_2016_finalreport.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nmarket-and-finance-presentation-q2-2016.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=35349485)\n\nQ3\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q3_2016_wwasa_final_pdf.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nmarket-and-finance-presentation-q3-2016.pdf)\n\nQ4\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa_q4_2016_final.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nmarket-and-finance-presentation-q4-2016_webcast.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=45035812)\n\nQ1\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-q1-2015-raport.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nmarket-and-finance-presentation-q1-2015.pdf)\n\nQ2\n\n* * *\n\n[ Report ](https://www.walleniuswilhelmsen.com/storage/downloads/full-\nreport-q2-2015_wwasa.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-1-slide-pdf-\nmarket-and-finance-presentation-q2-2015.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=21826298)\n\nQ3\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/q3-2015_wwasa.pdf)\n\n[ Presentation\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa_q32015_finance-\nand-market-presentation.pdf)\n\nQ4\n\n* * *\n\n[ Report\n](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa_q4_2015_final.pdf)\n\n[ Presentation ](https://www.walleniuswilhelmsen.com/storage/downloads/wwasa-\nmarket-and-finance-presentation-q4-2015.pdf)\n\n[ Webcast ](http://webtv.hegnar.no/presentation.php?webcastId=29655723)\n\nQ1\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q1-Interim-Report-\nfor-period-end-31-Mar-2014-English-PDF.pdf)\n\nQ2\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q2-Interim-Report-\nfor-period-end-30-Jun-2014-English-PDF.pdf)\n\nQ3\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q3-Interim-Report-\nfor-period-end-30-Sep-2014-English-PDF.pdf)\n\nQ4\n\n* * *\n\nQ1\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q1-Interim-Report-\nfor-period-end-31-Mar-2013-English-PDF.pdf)\n\nQ2\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q2-Interim-Report-\nfor-period-end-30-Jun-2013-English-PDF.pdf)\n\nQ3\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q3-Interim-Report-\nfor-period-end-30-Sep-2013-English-PDF.pdf)\n\nQ4\n\n* * *\n\nQ1\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q1-Interim-Report-\nfor-period-end-31-Mar-2012-English-PDF.pdf)\n\nQ2\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q2-Interim-Report-\nfor-period-end-30-Jun-2012-English-PDF.pdf)\n\nQ3\n\n* * *\n\n[ Report ](/storage/images/Wilh.-Wilhelmsen-ASA-WWASA-NO-Q3-Interim-Report-\nfor-period-end-30-Sep-2012-English-PDF-2-_-3.pdf)\n\nQ4\n\n* * *\n\nStock exchange notice\n\n[ See all ](https://www.walleniuswilhelmsen.com/who-we-are/investors/stock-\nexchange-notices)\n\n15/04/2025\n\n[ Interest Adjustment ](https://newsweb.oslobors.no/message/643832)\n\n10/04/2025\n\n[ Wallenius Wilhelmsen: Update on the sale of MIRRAT - ACCC approval\n](https://newsweb.oslobors.no/message/643359)\n\n04/04/2025\n\n[ Wallenius Wilhelmsen ASA: Notice of Annual General Meeting\n](https://newsweb.oslobors.no/message/643065)\n\n28/03/2025\n\n[ Wallenius Wilhelmsen signs a five-year contract with European OEM\n](https://newsweb.oslobors.no/message/642469)\n\n26/03/2025\n\n[ Wallenius Wilhelmsen ASA: Ex dividend of USD 1.24 today\n](https://newsweb.oslobors.no/message/642225)\n\n[ Click here to see and subscribe to the latest stock exchange notices and\npress releases.  ](https://live.euronext.com/en/listview/company-press-\nrelease/170741#subscribe)\n\n__\n\nDividends\n\n**Dividend policy**  \n  \n\"Wallenius Wilhelmsen\u00e2\u0080\u0099s objective is to provide shareholders with a\ncompetitive return over time through a combination of rising value for the\nWallenius Wilhelmsen share and payment of regular dividend payments to the\nshareholders.\n\nThe Board targets a dividend which over time shall constitute 30-50% of the\ncompany\u00e2\u0080\u0099s profit after tax on an annual basis. The dividend will be declared\nand paid on a semi-annual basis. The size of the dividend will be derived and\npaid based on the reported net profit for the first and second half of each\nfiscal year, respectively. Dividends will be declared in USD and paid in NOK.  \n  \nWhen determining the size of the dividend, the Board will consider its\nfinancial targets, near-term market outlook, the group\u00e2\u0080\u0099s financial position,\nfuture capital requirements, as well as other relevant factors such as\nextraordinary effects.  \n  \nFurthermore, the Board may from time to time, taking into consideration the\nfinancial position of the company, consider extraordinary dividends and/or\nshare buybacks to enhance shareholder returns.\"  \n  \nUpdated 08.05.2024\n\nEx-dividend date  |  Pay date  |  Fiscal year  |  Dividend, USD  |  Exchange rate  |  Dividend, NOK   \n---|---|---|---|---|---  \n26.03.2025  |  28.04.2025  |  2024  |  1.24  |  |   \n25.09.2024  |  10.10.1024  |  2024  |  0.61  |  10.48376  |  6.395094   \n25.09.2024  |  10.10.2024  |  2023  |  0.46  |  10.48376  |  4.82253   \n22.05.2024  |  29.05.2024  |  2023  |  0.68  |  10.92889  |  7.43164   \n09.11.2023  |  22.11.2023  |  2022  |  0.34  |  11.1625  |  3.79525   \n27.04.2023  |  10.05.2023  |  2022  |  0.51  |  10.6160  |  5.41416   \n09.11.2022  |  22.11.2022  |  2021  |  0.06  |  10.2533  |  0.6152   \n27.04.2022  |  10.05.2022  |  2021  |  0.09  |  9.1750  |  0.82575   \n12.11.2019  |  21.11.2019  |  2018  |  0.06  |  9.1374  |  0.54824   \n26.04.2019  |  09.05.2019  |  2018  |  0.06  |  8.6850  |  0.5211   \n12.11.2015  |  26.11.2015  |  2014  |  n/a  |  n/a  |  0.50   \n24.04.2015  |  07.05.2015  |  2014  |  n/a  |  n/a  |  1.00   \n14.11.2014  |  27.11.2014  |  2014  |  n/a  |  n/a  |  1.00   \n25.04.2014  |  08.05.2014  |  2013  |  n/a  |  n/a  |  1.00   \n28.11.2013  |  10.12.2013  |  2013  |  n/a  |  n/a  |  0.75   \n26.04.2013  |  14.05.2013  |  2012  |  n/a  |  n/a  |  4.00   \n14.11.2012  |  27.11.2012  |  2012  |  n/a  |  n/a  |  1.00   \n27.04.2012  |  09.05.2012  |  2011  |  n/a  |  n/a  |  0.65   \n07.12.2011  |  20.12.2011  |  2011  |  n/a  |  n/a  |  0.50   \n29.04.2011  |  10.05.2011  |  2010  |  n/a  |  n/a  |  0.50   \n  \n  \n\nGeneral meetings\n\n###  2025\n\n[ Wallenius Wilhelmsen ASA Notice AGM 2025 ](/storage/images/Investor-\nrelations/AGM-2025/Wallenius-Wilhelmsen-ASA-Notice-AGM-2025.pdf)  \n\n[ Recommendations by the nomination committee 2025 ](/storage/images/Investor-\nrelations/AGM-2025/Recommendations-by-the-nomination-committee-2025.pdf)  \n\n[ Line Hestvik - Curriculum Vitae ](/storage/images/Investor-\nrelations/AGM-2025/Line-Hestvik-Curriculum-Vitae.pdf)\n\n[ Online voting/registration form\n](https://investor.vps.no/gm/logOn.htm?token=267f68dd8483fb8fd238e0e584d70f416ed51cb2&validTo=1748516400000&oppdragsId=20250404VPLL39U0)  \n\n###  2024\n\n[ Signed minutes with votes AGM 2024 Wallenius Wilhelmsen ASA\n](/storage/images/Signed-minutes-with-votes-AGM-2024-Wallenius-Wilhelmsen-\nASA.pdf)\n\n[ Signert protokoll med stemmer GF 2024 Wallenius Wilhelmsen ASA\n](/storage/images/Signert-protokoll-med-stemmer-GF-2024-Wallenius-Wilhelmsen-\nASA.pdf)\n\n[ Votes AGM 2024 Wallenius Wilhelmsen ASA ](/storage/images/Votes-\nAGM-2024-Wallenius-Wilhelmsen-ASA.pdf)\n\n[ WW ASA AGM 30 April 2024 Presentation ](/storage/images/WW-ASA-\nAGM-30-April-2024_Presentation.pdf)\n\n[ Link to AGM 2024 webcast ](https://walleniuswilhelmsen.portal.vp.dk/logon/)  \n\n[ Wallenius Wilhelmsen ASA Notice AGM 2024 ](/storage/images/Wallenius-\nWilhelmsen-ASA-Notice-AGM-2024.pdf)\n\n[ Online voting/registration form (for shareholders only using separately\nreceived ref. no. and PIN code)\n](https://walleniuswilhelmsen.portal.vp.dk/logon/)\n\n[ Recommendations by the nomination committee 2024\n](/storage/images/Recommendations-by-the-nomination-committee-2024.pdf)\n\n[ Magnus Groth - CV ](/storage/images/MG-CV.pdf)\n\n###  2023\n\n  \n\n[ Signed minutes with votes AGM 2023 - Wallenius Wilhelmsen ASA\n](/storage/images/Minutes-AGM-Wallenius-Wilhelmsen-ASA-26-April-2023_en.pdf)\n\n[ Signert protokoll med stemmer GF 2023 - Wallenius Wilhelmsen ASA\n](/storage/images/Protokoll-AGM-Wallenius-Wilhelmsen-ASA-26.april-2023_no.pdf)\n\n[ Votes AGM 2023 Wallenius Wilhelmsen ASA ](/storage/images/votes-AGM-\nWallenius-Wilhelmsen-ASA_en.pdf)\n\n[ Presentation ](/storage/images/WW-ASA-AGM-26-April-2023_Final.pptx)\n\n[ Link to AGM 2023 webcast\n](https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwalleniuswilhelmsen.portal.vp.dk%2Flogon%2F&data=05%7C01%7CAndre.Ediassen%40walwil.com%7C908c82e98001407eb5c308db4003e2aa%7Ccdffb2cf96864fe1ae6424e2074f2a7e%7C0%7C0%7C638174157664773504%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=0ZTQgngxZNxCFyhFM4UNMnVLLpefUnb6UtL%2BMZ%2B2Gus%3D&reserved=0)  \n\n[ Online voting/registration form (for shareholders only using separately\nreceived ref. no. and PIN code): Click here to vote/register\n](https://investor.vps.no/gm/logOn.htm?token=1b9aafc90de3b7aedba7d3032f68ce96de133d86&validTo=1685098800000&oppdragsId=20230331VPM8MXU0)\n[  \n](/storage/images/Wallenius-Wilhelmsen-ASA-Notice-AGM-2023.pdf)\n\n[ Wallenius Wilhelmsen ASA Notice AGM 2023 ](/storage/images/Wallenius-\nWilhelmsen-ASA-Notice-AGM-2023.pdf)\n\n[ Recommendations by the Nomination committee 2023\n](/storage/images/Recommendations-by-the-Nomination-committee-2023.docx)  \n\n  \n\n[ Signed minutes with votes AGM 2021 - Wallenius Wilhelmsen ASA\n](/storage/downloads/Protokoll_en.pdf)  \n---  \n[ Signert protokoll med stemmer GF 2022 - Wallenius Wilhelmsen ASA\n](/storage/downloads/Protokoll_no.pdf)  \n[ Stemmer AGM 2022 Wallenius Wilhelmsen ASA\n](/storage/downloads/Votes_Stemmer-AGM-2022-Wallenius-Wilhelmsen-ASA.pdf)  \n[ Online voting/registration form (for shareholders only using separately\nreceived ref. no. and PIN code): Click here to vote/register\n](https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestor.vps.no%2Fgm%2FlogOn.htm%3Ftoken%3D5e38c6f8ac0f0006f0cd2a426c6292dd9168a8df%26validTo%3D1653562800000%26oppdragsId%3D20220405VPJQRVU0&data=04%7C01%7CAndre.Ediassen%40walwil.com%7Cf797df69819941a7bdad08da16e0f0a8%7Ccdffb2cf96864fe1ae6424e2074f2a7e%7C0%7C0%7C637847452613935476%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=O5Dwh%2BprWECtXh0rHZTkxrTCqWqkNw1P9ExvssLzn%2BQ%3D&reserved=0)  \n[ Wallenius Wilhelmsen ASA Notice AGM 2022 ](/storage/downloads/Notice-AGM-\nWalWil-ASA_2022-FINAL-KSB-1.docx)  \n[ Recommendations by the Nomination Committee 2022\n](/storage/images/Recommendations-by-the-Nomination-Committee-2022.pdf)  \n[ Link to AGM 2022 webcast ](https://teams.microsoft.com/l/meetup-\njoin/19%3Ameeting_YmEwZTM1ZTQtMDhmYy00OTc2LTkzOWItMmRiYmRlMDlhNjk0%40thread.v2/0?context=%7B%22Tid%22%3A%22cdffb2cf-9686-4fe1-ae64-24e2074f2a7e%22%2C%22Oid%22%3A%222b13fdaf-51a6-480a-a1e0-a5d2618355aa%22%2C%22IsBroadcastMeeting%22%3Atrue%7D)  \n  \n[ Signed minutes with votes AGM 2021 - Wallenius Wilhelmsen ASA\n](/storage/images/Signed-minutes-with-votes-AGM-2021-Wallenius-Wilhelmsen-\nASA.pdf)  \n---  \n[ Signert protokoll med stemmer GF 2021 - Wallenius Wilhelmsen ASA\n](/storage/images/Signert-protokoll-med-stemmer-AGM-2021-Wallenius-Wilhelmsen-\nASA.pdf)  \n[ Link to AGM 2021 webcast ](https://companycast.live/player/3e-80sed/) \\-\nApril 21, 2021; 1300 CET  \n[ Wallenius Wilhelmsen ASA Notice AGM 2021 ](/storage/images/Wallenius-\nWilhelmsen-ASA-Notice-AGM-2021.pdf)  \n[ Recommendations by the nomination committee\n](/storage/images/Recommendations-by-the-nomination-committee.pdf)  \n[ Guidelines for salary and other remuneration to leading personnel in\nWallenius Wilhelmsen ](/storage/images/Guidelines-for-salary-and-other-\nremuneration-to-leading-personnel-in-Wallenius-Wilhelmsen.pdf)  \nOnline voting/registration form (for shareholders only using separately\nreceived ref. no. and PIN code): [ Click here to vote/register\n](https://investor.vps.no/gm/logOn.htm?token=07b2deaada2ebad824a2384551701beed702908f&validTo=1621594800000&oppdragsId=20210326VPPBCVU0)  \n  \n[ Notice AGM 2020 Wallenius Wilhelmsen ASA ](/storage/downloads/Notice-AGM-\nWallenius-Wilhelmsen-ASA-2020.pdf)  \n  \n---  \n[ Addendum to the recommendations by the nomination committee 2020\n](/storage/downloads/2020-04-14-Addendum-to-the-recommendations-by-the-\nnomination-committee-2020-1.pdf)  \n  \n[ Recommendations by the nomination committee\n](/storage/downloads/Recommendations-by-the-nomination-committee-2020-1.pdf)  \n[ Signed minutes AGM with votes Wallenius Wilhelmsen ASA\n](/storage/downloads/Signed-minutes-AGM-with-votes-Wallenius-Wilhelmsen-\nASA.pdf)  \n[ Signert protokoll m stemmer GF Wallenius Wilhelmsen ASA\n](/storage/downloads/Signert-protokoll-m.-stemmer-GF-Wallenius-Wilhelmsen-\nASA.pdf)  \n  \n[ Wallenius Wilhelmsen ASA - Notice AGM 2019 ](/storage/downloads/Wallenius-\nWilhelmsen-ASA-Notice-AGM-2019.pdf)  \n---  \n[ Recommendation by the nomination committee\n](/storage/downloads/Recommendation-by-the-nomination-committee.pdf)  \n[ Signed Minutes of meeting AGM WALWIL ASA ](/storage/downloads/Signed-\nMinutes-of-meeting-AGM-WALWIL-ASA.pdf)  \n[ Signert protokoll GF WALWIL ASA ](/storage/downloads/Signert-protokoll-GF-\nWALWIL-ASA.pdf)  \n  \n###  Annual general meeting, April 25\n\n[ WWL ASA - Notice AGM 2018 ](/storage/downloads/wwl-asa-notice-agm-2018.pdf)  \n---  \n[ Remuneration board comittees 2018\n](/storage/downloads/remuneration_board_comittees2018.pdf)  \n[ WWL ASA MoM AGM 2018 Eng ](/storage/downloads/wwl-asa-mom-agm-2018.eng.pdf)  \n[ WWL ASA protokoll GF 2018 No ](/storage/downloads/wwl-asa-protokoll-\ngf-2018.no.pdf)  \n  \n###  Extraordinary General Meeting, 25 January\n\n[ WW ASA MoM EGM 2017 ](/storage/downloads/wwasa-mom-egm-2017.pdf)  \n---  \n[ WW ASA Protokoll EGF 2017 ](/storage/downloads/wwasa-protokoll-egf-2017.pdf)  \n[ WW ASA EGMT 2016 combined ](/storage/downloads/wwasa_egmt_2016_combined.pdf)  \n  \n###  Annual General Meeting, 20 June\n\n[ WWL ASA - Notice AGM 2017 ](/storage/downloads/wwl-asa-notice-agm-2017.pdf)  \n---  \n[ Remuneration board comittees 2017\n](/storage/downloads/remuneration_board_comittees2017.pdf)  \n[ WWL ASA MoM AGM 2017 ](/storage/downloads/wwlasa-mom-agm-2017.pdf)  \n[ WWL ASA Protokoll AGM 2017 ](/storage/downloads/wwlasa-protokoll-\nagm-2017.pdf)  \n[ Articles Association WWL ASA ](/storage/downloads/articles_association_wwl-\nasa.pdf)  \n[ AGM Total represented 20.06.17 Eng ](/storage/downloads/agm-total-\nrepresented-20.06.17-eng.pdf)  \n[ AGM Total represented 20.06.17 No ](/storage/downloads/amg-total-\nrepresented-20.06.17-no.pdf)  \n[ MoM AMG 20.06.17 Eng ](/storage/downloads/mom-amg-20.06.17-eng.pdf)  \n[ MoM AMG 20.06.17 No ](/storage/downloads/mom-amg-20.06.17-no.pdf)  \n  \n###  Annual general meeting\n\n[ WW ASA - Notice AGM 2016 ](/storage/downloads/ww-asa-notice-agm-2016.pdf)  \n---  \n[ WWASA MoM AGM 2016 ](/storage/downloads/wwasa-mom-agm-2016.pdf)  \n  \n###  Extraordinary general meeting\n\n[ Minutes EGM WW ASA 20 04 2016 ](/storage/downloads/minutes-egm-ww-\nasa-20-04-2016.pdf)  \n---  \n  \n[ WW ASA - Notice AGM 2015 ](/storage/downloads/ww-asa-notice-agm-2015.pdf) |   \n---|---  \n[ WW ASA AGM presentation 2015 ](/storage/downloads/wwasa-agm-presentation-2015.pdf) |   \n[ WW ASA MoM AGM 2015 ](/storage/downloads/wwasa-mom-agm-2015.pdf) |   \n  \n[ WW ASA - Notice AGM 2014 ](/storage/downloads/ww-asa-notice-\nagm-2014-03-04-2014.pdf)  \n---  \n[ WW ASA - MoM AGM 2014 ](/storage/downloads/ww-asa-mom-agm-2014.pdf)  \n  \nBonds\n\nThe ticker is a direct link to Oslo Stock Exchange. By clicking the name you\nwill get the agreement for that specific loan.\n\nTicker  |  Name  |  Currency  |  Max. nom (MIO)  |  Net outstanding  |  Coupon  |  Final maturity   \n---|---|---|---|---|---|---  \n[ WAWI01 ](https://live.euronext.com/nb/product/bonds/NO0011082091-XOSL) |  [ FRN 21/26 ](/storage/downloads/Securities-Note-NO0011082091_Wallenius-Wilhelmsen-ASA_with-Summary_dated-7-October-2021-with-Appendix.pdf) [ Prospectus ](/storage/downloads/Wallenius-Wilhelmsen-ASA-Supplement-number-1-to-Registration-Document_dated-7-October-2021.pdf) [ Prospectus tap issue ](/storage/downloads/Securities-Note-Tap-Issue-NO0011082091_Wallenius_Wilhelmsen_ASA_with_Summary_dated_20-January-2022.pdf) [ Registration document January 2022 ](/storage/downloads/Registration-Document-Wallenius-Wilhelmsen-ASA_-dated-20-January-2022.pdf) |  NOK  |  2,000  |  2,000  |  3M NIBOR +3.90%  |  03.03.26   \n[ WAWI02 ESG ](https://live.euronext.com/en/product/bonds/NO0012495912-XOSL) |  [ FRN SLB 22/27 ](/storage/downloads/Bond-Terms-NO0012495912.pdf) [ Prospectus ](/storage/images/Securities-Note-NO0012495912_Wallenius-Wilhelmsen-ASA_with-Summary_dated-13.05.2022.pdf) [ Registration document ](/storage/images/Supplement-number-1-to-the-Registration-Document-dated-20-January-2022_dated-13.05.2022.pdf) |  NOK  |  2,000  |  1,250  |  3M NIBOR+4.25%  |  21.04.27   \n[ WAWI03 ESG ](https://live.euronext.com/en/product/bonds/NO0012992090-XOSL) |  [ FRN SLB 23/28 ](/storage/images/Bond-Terms-NO0012992090.pdf) [ Prospectus ](/storage/images/Base-Prospectus-Wallenius-Wilhelmsen-ASA-dated-26-October-2023.pdf) [ Final terms ](/storage/images/Final-Terms-Wallenius-Wilhelmsen-ASA-ISIN-NO0012992090_dated-26-October-2023.pdf) |  NOK  |  2,000  |  1,000  |  3M NIBOR+3.25%  |  31.08.2028   \nLast updated 08.10.2024  |  |  |  |  |  |   \n  \nSustainable finance\n\n###  2025\n\n[ Sustainable financing framework 2025 ](/storage/images/Wallenius-Wilhelmsen-Sustainable-financing-framework-2025.pdf) |  February 2025   \n---|---  \n[ Second party opinion by S&P Global Ratings ](/storage/images/Investor-relations/Second-party-opinion-by-SP-Global-Ratings.pdf) |  February 2025   \n  \n[ WAWI sustainability-linked financing framework v1.0 ](/storage/downloads/220201-Sustainability-Linked-Financing-Framework.pdf) |  February 2022   \n---|---  \n[ Second party opinion by CICERO Shades of Green ](/storage/downloads/220202-WalWil-Framework-Second-Opinion-CICERO.pdf) |  February 2022   \n[ DNV verification statement, 2019 and 2020 ](/storage/downloads/220128-DNV-Verification-Statement.pdf) |  February 2022   \n[ DNV verification statement, 2021 ](/storage/images/WAWI-2021-DNV-Verification-Statement.pdf) |  June 2022   \n[ Progress report: WAWI Sustainability-linked financing, 2021 ](/storage/downloads/WAWI-2021-SLFF-Progress-Report.pdf) |  June 2022   \n[ Progress report: WAWI Sustainability-linked financing, 2022 ](/storage/images/230428-WAWI-2022-SLFF-Progress-Report_final.pdf) |  April 2023   \n[ DNV verification statement, 2022 ](/storage/images/230428-WalWil-Verification-Statement.pdf) |  April 2023   \n[ Progress report: WAWI Sustainability-linked financing, 2023 ](/storage/images/Progress-report-WAWI-Sustainability-linked-financing-2023.pdf) |  April 2024   \n[ DNV verification statement, 2023 ](/storage/images/WalWil-Avg-Fleet-CII-2023-Statement.pdf) |  April 2024   \n  \nTop 20 shareholders\n\n##  Footnote\n\nThe nominee accounts held with Skandinaviska Enskilda Banken AB for\n160,000,000 shares is owned by Wallenius Lines AB\n\n##  Extensive shareholder list\n\nAs per the Norwegian Act on Access to Shareholder Register and Nominee-\nRegistered Shares \u00c2\u00a74-1, we have procured an overview of the company's\nshareholders as of February 10, 2025. The list can be obtained by contacting\nthe company via e-mail: anders.karlsen@walwil.com\n\nFinancial targets\n\nWallenius Wilhelmsen has established long-term financial targets relevant to\ncompanies in capital intensive industries. The targets allow management and\nthe board of directors to monitor the financial development of the group and\nperformance will be regularly communicated to the market.  \n\n**Return on capital employed (ROCE) > 8% **\n\nCalculated as last twelve months of adjusted EBIT divided by the average\ncapital employed (total assets less total liabilities plus total interest-\nbearing debt)\n\n**Leverage ratio < 3.5x **\n\nCalculated as net interest-bearing debt divided by last twelve months of\nadjusted EBITDA\n\n**Equity ratio > 35% **\n\nCalculated as book value of equity divided by book value of total assets\n\nUpdated: 08.02.2023\n\nPrimary insider shareholdings\n\nPrimary insider (PDMR) overview can be found at [ **_Euronext_ ** ](https://live.euronext.com/en/product/equities/NO0010571680-XOSL/primary-insiders) |   \n---|---  \nName  |  Number of shares   \n**Board of directors** |   \nChair of the Board - Rune Bjerke  |  34,750   \nBoard Director - Thomas Wilhelmsen  |  161,375,095   \nBoard Director - Margareta Alestig  |  1,600   \nBoard Director - Anna Fell\u00c3\u00a4nder  |  1,400   \nBoard Director - Hans \u00c3 kervall  |  \\-   \nBoard Director - Yngvil \u00c3 sheim  |  4,250   \nBoard Director - Magnus Groth  |  \\-   \nAlternate Board Member - Christian Berg  |  \\-   \nAlternate Board Member - Erik N\u00c3\u00b8klebye  |  \\-   \n**Senior executives** |   \nChief Executive Officer (CEO) - Lasse Kristoffersen  |  5,000   \nInterim Chief Financial Officer (CFO) - Jermund Lien  |  2,000   \nExecutive Vice President (EVP) and Chief Operating Officer (COO) shipping services - Xavier Leroi  |  63,649   \nChief Strategy & Corporate Development Officer - Michael Hynekamp  |  137,147   \nExecutive Vice President (EVP) and Chief Operating Officer (COO) digital supply chain solutions - Mikael Bj\u00c3\u00b8rklund  |  \\-   \nCOO Logistics - John Felitto  |  55,850   \nChief People Officer (CPO) - Wenche Agerup  |  \\-   \nChief Customer Officer (CCO) - Pia Synnerman  |  \\-   \nChief Technology and Information Officer (CTIO) - Gro Rognstad  |  1,500   \nChief Communications and Marketing Officer (CCMO) - Anette Maltun Koefoed  |  2,010   \n  \n  \n\n_Footnote: Shareholdings are owned directly or indirectly through close\nassociates_\n\nLast updated: 22.11.2024\n\nAnalyst coverage\n\n###  Equity analysts\n\nFirm / Analyst  |  Analyst  |  Phone  |  Email   \n---|---|---|---  \nABG Sundal Collier  |  Petter Haugen  |  +47 22016139  |  petter.haugen@abgsc.no   \nArctic Securities  |  Kristoffer Barth Skeie  |  +47 41363663  |  kristoffer.skeie@arctic.com   \nDNB Markets  |  J\u00c3\u00b8rgen Lian  |  +47 24169188  |  jorgen.lian@dnb.no   \nKepler Cheuvreux  |  Axel Styrman  |  +47 23139078  |  astyrman@keplercheuvreux.com   \nPareto  |  Eirik H\u00c3\u00a5valdsen  |  +47 24132120  |  eirik.haavaldsen@paretosec.com   \nSEB  |  Jon Nikolai Sk\u00c3\u00a5land  |  +47 22827006  |  jon.skaland@seb.no   \nNordea  |  J\u00c3\u00b8rgen Bruaset  |  +47 24015080  |  jorgen.bruaset@nordea.com   \nFearnley Securities  |  Fredrik Dybwad  |  \\+ 47 22936373  |  f.dybwad@fearnleys.com   \nClarksons Securities  |  Frode M\u00c3\u00b8rkedal  |  +47 99704633  |  frode.morkedal@clarksons.com   \n  \n###  Credit analysts\n\nFirm  |  Analyst  |  Phone  |  Email   \n---|---|---|---  \nDanske Bank Markets  |  Brian B\u00c3\u00b8rsting  |  [ +45 45128519 ](tel:+4545128519) |  [ brbr@danskebank.com ](mailto:brbr@danskebank.com)  \nNordea  |  Peder Loholt Kristiansen  |  +47 917 35 143  |  peder.loholt.kristiansen@nordea.com   \n  \nExecutive Remuneration Guidelines\n\n  \n[ Executive Remuneration Guidelines of Wallenius Wilhelmsen 2025  \n](/storage/images/Executive-Remuneration-Guidelines-of-Wallenius-\nWilhelmsen-2025.pdf)\n\n[ Executive Remuneration Guidelines of Wallenius Wilhelmsen 2021\n](/storage/images/Executive-Remuneration-Guidelines-of-Wallenius-\nWilhelmsen-2021.pdf)\n\nAnders Redigh Karlsen\n\nVP Investor Relations & Market Insight\n\n  * __ [ +47 994 20 293 ](tel:+47 994 20 293)\n  * __ [ anders.karlsen@walwil.com ](mailto:anders.karlsen@walwil.com)\n\nInvestor Relations\n\n  * __ [ IR@walwil.com ](mailto:IR@walwil.com)\n\n###  Resources\n\n[ Schedules  ](https://www.walleniuswilhelmsen.com/schedules) [ Track & trace\n](https://www.walleniuswilhelmsen.com/track-trace) [ Rate request\n](https://www.walleniuswilhelmsen.com/rate-request) [ Contact us\n](https://www.walleniuswilhelmsen.com/contact-us)\n\n###  Find your local office\n\nSearch for your country to find our local office or commercial agent.\n\nCopyright \u00c2\u00a9 Wallenius Wilhelmsen ASA. All Rights Reserved. Reproductions not\nallowed without Wallenius Wilhelmsen expressed consent. Backlinks are allowed.\n\n",
                "url": "https://www.walleniuswilhelmsen.com/who-we-are/investors"
            },
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            "search_query": "company 'N/A' customers stakeholders",
            "summary": "Official investor relations page of Wallenius Wilhelmsen.",
            "url": "https://www.walleniuswilhelmsen.com/who-we-are/investors"
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                    "source": "https://www.pginvestor.com/financial-reporting/press-releases/news-details/2023/PG-Announces-Fourth-Quarter-and-Fiscal-Year-2023-Results/default.aspx"
                },
                "page_content": "Skip to main content\n\n",
                "url": "https://www.pginvestor.com/financial-reporting/press-releases/news-details/2023/PG-Announces-Fourth-Quarter-and-Fiscal-Year-2023-Results/default.aspx"
            },
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            "summary": "Official investor relations website for P&G.",
            "url": "https://www.pginvestor.com/financial-reporting/press-releases/news-details/2023/PG-Announces-Fourth-Quarter-and-Fiscal-Year-2023-Results/default.aspx"
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                    "source": "https://www.scirp.org/journal/paperinformation?paperid=141177"
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                "page_content": "\n\n",
                "url": "https://www.scirp.org/journal/paperinformation?paperid=141177"
            },
            "reason": "This is a scientific paper published by the Scientific Research Publishing (SCIRP). While it is a published paper, SCIRP is considered an open-access publisher with varying levels of peer review rigor, so the reliability is moderate.",
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            "summary": "Scientific paper published by the Scientific Research Publishing (SCIRP).",
            "url": "https://www.scirp.org/journal/paperinformation?paperid=141177"
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                    "source": "https://home.barclays/investor-relations/shareholder-information/dividends/"
                },
                "page_content": "Barclays uses cookies on this website. Some cookies are essential to provide\nour services to you. Other cookies help us to analyse how you use the site, so\nwe can improve your experience on our site. Cookies are stored locally on your\ncomputer or mobile device. Please select 'Accept all' to consent to cookies or\nselect \u2018Reject all\u2019 to reject all but essential cookies or select 'Manage\ncookies' to change your preferences. For more information visit our [ cookie\npolicy ](https://home.barclays/cookie-policy/ \"Opens in a new window\") .\n\n\\-\n\n  * [ Investor Relations  ](/investor-relations/)\n  * [ Shareholder information  ](/investor-relations/shareholder-information/)\n\n#  Dividends and Share Buybacks\n\nBarclays understands the importance of delivering attractive total cash\nreturns to shareholders. Barclays is therefore committed to maintaining an\nappropriate balance between total cash returns to shareholders, investment in\nthe business and maintaining a strong capital position.\n\nBarclays plans to return at least \u00a310bn of capital to shareholders between\n2024 and 2026, through dividends and share buybacks, with a continued\npreference for buybacks. Barclays plan to keep the total dividend stable at\nthe 2023 level in absolute terms, with progressive dividend per share growth\ndriven through share count reduction as a result of increased share buybacks.\n\nDividends will continue to be paid semi-annually. This multi-year plan is\nsubject to supervisory and Board approval, anticipated financial performance\nand our published CET1 ratio target range of 13-14%.\n\nAs owners of Barclays, shareholders benefit from buybacks as they reduce\noverall share count, thereby increasing each share\u2019s percentage ownership of\nBarclays equity and proportion of future capital returns.\n\n##  Full year dividend for the period ended 31 December 2024\n\nIt is Barclays' policy to declare and pay dividends on a semi-annual basis.\nThe full year dividend for the period ended 31 December 2024 of 5.5p per\nordinary share will be paid on 4 April 2025 to shareholders holding shares on\nthe register on 28 February 2025. Making the 2024 total dividend 8.4p per\nshare.\n\nFor qualifying US and Canadian-resident American Depositary Receipt (ADR)\nholders, the full year dividend of 5.5p per ordinary share becomes 22.0p per\nADS (American Depositary \u2013 Share) (representing four shares).\n\nOn 13 February 2025, the Company announced a further share buyback programme\nof up to \u00a31.0bn. The share buyback commenced on 14 February 2025.\n\nDuring 2024 the Company completed two share buyback programmes to purchase its\nordinary shares. The first share buyback programme concluded on 30 July 2024\nwith a total consideration of \u00a31.0bn and the second share buyback programme\nconcluded on 5 December 2024 with a total consideration of \u00a3750m.\n\n##  Previous capital returns\n\nThe half year dividend for the period ended 30 June 2024 of 2.9p per ordinary\nshare was paid on 20 September 2024 to shareholders holding shares on the\nregister on 16 August 2024.\n\nFor qualifying US and Canadian-resident American Depositary Receipt (ADR)\nholders, the half year dividend of 2.9p per ordinary share became 11.6p per\nADS (American Depositary \u2013 Share) (representing four shares). The ADR\ndepositary bank posted the half year dividend on 20 September 2024 to ADR\nholders on record on 16 August 2024.\n\n  * Barclays distributes its dividends by crediting the relevant amount to a shareholder\u2019s nominated bank account or building society. We believe it is beneficial for our shareholders to use a secure payment method and, in line with our targets to reduce our environmental footprint. Not paying by cheques reduces the environmental impact of printing and posting cheques. \n\nTo receive Barclays PLC dividends and any other money payable to you in\nconnection with your Barclays PLC ordinary shares, you will need to provide\nyour bank or building society account details. Please complete the Bank\nMandate Form below and send to Equiniti at the address listed on the form.\n\n[ Download Bank Mandate Form - Individual Shareholder (PDF 33KB)\n](http://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Shareholders/Documents/MandateForm.pdf\n\"Bank Mandate Form - Individual Shareholder \\(PDF 33KB, opens in a new\nwindow\\)\")\n\n[ Download Bank Mandate Form - Corporate Shareholder (PDF 30KB)\n](http://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Shareholders/Documents/CorporateMandate_Barclays.pdf\n\"Bank Mandate Form - Corporate Shareholder \\(PDF 30KB, opens in a new\nwindow\\)\")\n\n  * Barclays issues a consolidated dividend confirmation for the financial year in March/April to shareholders who have their dividends paid directly into a bank or building society account. \n\nTo request a duplicate dividend confirmation, please contact Equiniti on +44\n(0) 371 384 2055 in the UK or from outside the UK. Lines open 8:30am to 5:30pm\n(UK time), Monday to Friday, excluding public holidays in England and Wales.\n\nAlternatively you can contact Equiniti via [ shareview.co.uk\n](http://shareview.co.uk/ \"Opens in a new window\") .\n\nThere may be an administration charge for issuing duplicate dividend\nconfirmations. You can also access your dividend information and electronic\ndividend confirmation online using [ Shareview\n](https://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Pages/Home.aspx\n\" Shareview \\(opens in a new window\\)\") .\n\n  * Barclays offers a dividend reinvestment plan (DRIP) for those shareholders who wish to elect to use their dividend payments to purchase additional ordinary shares, rather than receive a cash payment. The DRIP will be provided and administered by Barclays\u2019 registrar, Equiniti. Further details regarding the DRIP can be found at [ shareview.co.uk/info/drip ](http://www.shareview.co.uk/info/drip \"Opens in a new window\")\n\n_[ Download the DRIP Invitation Booklet (PDF 459KB) ](/content/dam/home-\nbarclays/documents/investor-\nrelations/ResultAnnouncements/FullYear2020/Barclays_DRIP_2021_Flyer_A5-final-\nFeb2021.pdf \"Opens in a new window\") _\n\n  * Qualifying US and Canadian resident ADR holders should contact [ Shareowner Services ](https://home.barclays/investor-relations/shareholder-information/american-depository-receipts/ \"Opens in a new window\") for further details regarding the DRIP. \n\n  * On 13 February 2025, the Company announced a further share buyback programme of up to \u00a31.0bn. The share buyback commenced on 14 February 2025. \n\nDuring 2024 Barclays undertook two share buyback programmes. The first was a\nshare buyback of \u00a31bn which was announced with the Full Year 2023 Results in\nFebruary 2024 and commenced on 22 February 2024. This buyback completed in\nJuly 2024. The second was a buyback of \u00a3750m which was announced in its 2024\nHalf Year Results on 1 August 2024 and commenced in the third quarter of 2024.\nThis buyback completed in December 2024.\n\nThe purpose of each of the buybacks was to reduce the share capital of the\ncompany and the ordinary shares purchased under the buybacks were cancelled.\n\nNo repurchases were made in the United States or in respect of the Company's\nAmerican Depositary Receipts.\n\n##  Historic Share Buybacks\n\nAnnouncement  |  Commencement Date  |  Completion Date  |  Buyback Amount  |  Shares Purchased  |  Average Purchase Price   \n---|---|---|---|---|---  \nHalf Year (2024)  |  5 August 2024  |  5 December 2024  |  \u00a3750m  |  320,247,475  |  \u00a32.341   \nFull Year (2023)  |  22 February 2024  |  30 July 2024  |  \u00a31bn  |  497,923,138  |  \u00a32.008   \nHalf Year (2023)  |  28 July 2023  |  23 October 2023  |  \u00a3750m  |  493,603,770  |  \u00a31.519   \nFull Year (2022)  |  13 March 2023  |  14 April 2023  |  \u00a3500m  |  343,041,720  |  \u00a31.458   \nHalf Year (2022)  |  17 August 2022  |  3 October 2022  |  \u00a3500m  |  306,326,717  |  \u00a31.632   \nFull Year (2021)  |  24 May 2022  |  16 August 2022  |  \u00a31bn  |  625,019,884  |  \u00a31.599   \nHalf Year (2021)  |  2 August 2021  |  30 November 2021  |  \u00a3500m  |  266,987,647  |  \u00a31.872   \nFull Year (2020)  |  19 March 2021  |  22 April 2021  |  \u00a3700m  |  377,356,751  |  \u00a31.855   \n  \n##  Historic Dividends\n\n|  Ex-Div Date  \n|  Record Date  \n|  Payment Date  \n|  Dividend Amount  \n|  Scrip reference share price  \n  \n---|---|---|---|---|---  \nFull year (2024)  |  27/02/2025  |  28/02/2025  |  04/04/2025  |  5.5p  |  N/A   \nHalf year (2024)  |  15/08/2024  |  16/08/2024  |  20/09/2024  |  2.9p  |  N/A   \nFull year (2023)  |  29/02/2024  |  01/03/2024  |  03/04/2024  |  5.3p  |  N/A   \nHalf year (2023)  |  10/08/2023  |  11/08/2023  |  15/09/2023  |  2.7p  |  N/A   \nFull year (2022)  |  23/02/2023  |  24/02/2023  |  31/03/2023  |  5.0p  |  N/A   \nHalf year (2022)  |  11/08/2022  |  12/08/2022  |  16/09/2022  |  2.25p  |  N/A   \nFull year (2021)  |  03/03/2022  |  04/03/2022  |  05/04/2022  |  4.0p  |  N/A   \nHalf year (2021)  |  12/08/2021  |  13/08/2021  |  17/09/2021  |  2.0p  |  N/A   \nFull year  **(2020)** |  25/02/2021  |  26/02/2021  |  01/04/2021  |  1.0p  |  N/A   \nHalf year  **(2020)** |  N/A  |  N/A  |  N/A  |  N/A  |  N/A   \nFull year (2019)  |  N/A  |  N/A  |  N/A  |  N/A  |  N/A   \nHalf year (2019)  |  08/08/2019   \n|  09/08/2019  \n|  23/09/2019  \n|  3.0p  \n|  \u00a31.4220  \n  \nFull year (2018)  \n|  28/02/2019  \n|  01/03/2019  \n|  05/04/2019  \n|  4.0p  \n|  \u00a31.6406  \n  \nHalf year (2018)  \n|  09/08/2018  \n|  10/08/2018  \n|  17/09/2018  \n|  2.5p  \n|  \u00a31.8548  \n  \nFinal (2017)  |  01/03/2018   \n|  02/03/2018  \n|  05/04/2018  \n|  2p  \n|  \u00a32.0921  \n  \nInterim (2017)  |  10/08/2017   \n|  11/08/2017  \n|  18/09/2017  \n|  1p  \n|  \u00a32.0103  \n  \nFinal (2016)  \n|  02/03/2017  \n|  03/03/2017  \n|  05/04/2017  \n|  2p  \n|  \u00a32.2944  \n  \nInterim (2016)  \n|  11/08/2016  \n|  12/08/2016  \n|  19/09/2016  \n|  1p  \n|  \u00a31.6242  \n  \nFinal (2015)  \n|  10/03/2016  \n|  11/03/2016  \n|  05/04/2016  \n|  3.5p  \n|  \u00a31.6334  \n  \n3rd Interim (2015)  \n|  05/11/2015  \n|  06/11/2015  \n|  11/12/2015  \n|  1p  \n|  \u00a32.3146  \n  \n2nd Interim (2015)  \n|  06/08/2015  \n|  07/08/2015  \n|  14/09/2015  \n|  1p  \n|  \u00a32.7907  \n  \n1st Interim (2015)  \n|  07/05/2015  \n|  08/05/2015  \n|  15/06/2015  \n|  1p  \n|  \u00a32.5709  \n  \nFinal (2014)  \n|  10/03/2015  \n|  11/03/2015  \n|  02/04/2015  \n|  3.5p  \n|  \u00a32.5313  \n  \n3rd Interim (2014)  \n|  06/11/2014  \n|  07/11/2014  \n|  12/12/2014  \n|  1p  \n|  \u00a32.3387  \n  \n2nd Interim (2014)  \n|  06/08/2014  \n|  08/08/2014  \n|  19/09/2014  \n|  1p  \n|  \u00a32.1568  \n  \n1st Interim (2014)  \n|  14/05/2014  \n|  16/05/2014  \n|  23/06/2014  \n|  1p  \n|  \u00a32.4303  \n  \nFinal (2013)  \n|  19/02/2014  \n|  21/02/2014  \n|  28/03/2014  \n|  3.5p  \n|  \u00a32.5719  \n  \n3rd Interim (2013)  \n|  06/11/2013  \n|  08/11/2013  \n|  13/12/2013  \n|  1p  \n|  \u00a32.5542  \n  \n2nd Interim (2013)  \n|  07/08/2013  \n|  09/08/2013  \n|  13/09/2013  \n|  1p  \n|  \u00a32.8497  \n  \n1st Interim (2013)  \n|  01/05/2013  \n|  03/05/2013  \n|  07/06/2013  \n|  1p  \n|  n/a  \n  \nFinal (2012)  \n|  20/02/2013  \n|  22/02/2013  \n|  15/03/2013  \n|  3.5p  \n|  n/a  \n  \n3rd Interim (2012)  \n|  07/11/2012  \n|  09/11/2012  \n|  07/12/2012  \n|  1p  \n|  n/a  \n  \n2nd Interim (2012)  |  08/08/2012   \n|  10/08/2012  \n|  07/09/2012  \n|  1p  \n|  n/a  \n  \n1st Interim (2012)  \n|  02/05/2012  \n|  04/05/2012  \n|  08/06/2012  \n|  1p  \n|  n/a  \n  \nFinal (2011)  \n|  22/02/2012  \n|  24/02/2012  \n|  16/03/2012  \n|  3p  \n|  n/a  \n  \n3rd Interim (2011)  \n|  09/11/2011  \n|  11/11/2011  \n|  09/12/2011  \n|  1p  \n|  n/a  \n  \n2nd Interim (2011)  \n|  10/08/2011  \n|  12/08/2011  \n|  09/09/2011  \n|  1p  \n|  n/a  \n  \n1st Interim (2011)  \n|  04/05/2011  \n|  06/05/2011  \n|  10/06/2011  \n|  1p  \n|  n/a  \n  \nFinal (2010)  \n|  23/02/2011  \n|  25/02/2011  \n|  18/03/2011  \n|  2.5p  \n|  n/a  \n  \n3rd Interim (2010)  \n|  17/11/2010  \n|  19/11/2010  \n|  10/12/2010  \n|  1p  \n|  n/a  \n  \n2nd Interim (2010)  \n|  11/08/2010  \n|  13/08/2010  \n|  10/09/2010  \n|  1p  \n|  n/a  \n  \n1st Interim (2010)  \n|  12/05/2010  \n|  14/05/2010  \n|  04/06/2010  \n|  1p  \n|  n/a  \n  \nFinal (2009)  \n|  24/06/2010  \n|  26/02/2010  \n|  19/03/2010  \n|  1.5p  \n|  n/a  \n  \nInterim (2009)  \n|  18/11/2009  \n|  20/11/2009  \n|  11/12/2009  \n|  1p  \n|  n/a  \n  \nInterim (2008)  \n|  20/08/2008  \n|  22/08/2008  \n|  01/10/2008  \n|  11.5p  \n|  n/a  \n  \nFinal (2007)  \n|  20/08/2008  \n|  22/08/2008  \n|  01/10/2008  \n|  11.5p  \n|  n/a  \n  \nInterim (2007)  \n|  15/08/2007  \n|  17/08/2007  \n|  01/10/2007  \n|  11.5p  \n|  n/a  \n  \nFinal (2006)  \n|  07/03/2007  \n|  09/03/2007  \n|  27/04/2007  \n|  20.5p  \n|  n/a  \n  \nInterim (2006)  \n|  16/08/2006  \n|  18/08/2006  \n|  02/10/2006  \n|  10.5p  \n|  n/a  \n  \nFinal (2005)  \n|  01/03/2006  \n|  03/03/2006  \n|  28/04/2006  \n|  17.4p  \n|  n/a  \n  \nInterim (2005)  \n|  17/08/2005  \n|  19/08/2005  \n|  03/10/2005  \n|  9.2p  \n|  n/a  \n  \n  \n##  Important information\n\n",
                "url": "https://home.barclays/investor-relations/shareholder-information/dividends/"
            },
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                "page_content": "Loading content\n\n#\n\n##  Executive Management Team\n\n[ Meet Our Team\n](https://newsroom.bankofamerica.com/content/newsroom/executive-bios.html)\n\n##  Board of Directors\n\nView Bio\n\n###  **Brian T. Moynihan**\n\nChair of the Board and  \nChief Executive Officer,  \nBank of America Corporation\n\n  \nView Bio\n\nSame page link Brian T. Moynihan Dialog\n\n##  Brian T. Moynihan\n\n**Chair of the Board and  \nChief Executive Officer,  \nBank of America Corporation **\n\nAge: 65  Director since: January 2010\n\nCommittee membership:  Attends meetings of all of the Board committees\n\nAs our Chief Executive Officer, Mr. Moynihan leads a team of more than 200,000\nemployees focused on driving Responsible Growth for our teammates, clients,\ncommunities, and shareholders.\n\nUnder his leadership, the company provides core financial services to three\nclient groups through our eight lines of business. This has delivered record\nearnings and significant capital return to shareholders. Mr. Moynihan has\ndemonstrated leadership qualities, management capability, knowledge of our\nbusiness and industry, and a long-term strategic perspective. In addition, he\nhas many years of international and domestic financial services experience,\nincluding wholesale and retail businesses.\n\n###  Professional highlights:\n\n  * Appointed Chair of the Board of Directors of Bank of America Corporation in October 2014 and President and Chief Executive Officer in January 2010. Prior to becoming Chief Executive Officer, Mr. Moynihan led each of the company\u2019s operating units \n  * Member (and prior Chair) of the Board of Directors of Bank Policy Institute (Chair of the Global Regulatory Policy Committee) \n  * Member (and prior Chair) of Financial Services Forum \u2022 Chair of the Supervisory Board of The Clearing House Association L.L.C. \n  * Member of Business Roundtable \n  * Member (and prior Chairman) of the World Economic Forum\u2019s International Business Council (Chair of Stakeholder Capitalism Metrics Initiative) \n  * Past Chair of the Board of The U.S. Council on Competitiveness \n  * Chair of the Sustainable Markets Initiative \n\n###  Other leadership experience and service:\n\n  * Chancellor (Chair) and current member of Board of Fellows of Brown University \n  * Member of Advisory Council of Smithsonian\u2019s National Museum of African American History and Culture \n  * Member of Charlotte Executive Leadership Council \n  * Chair of Massachusetts Competitive Partnership \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Lionel L. Nowell III**\n\nLead Independent Director,  \nBank of America Corporation  \n  \nFormer Senior Vice President and Treasurer, PepsiCo, Inc.\n\n  \nView Bio\n\nSame page link Lionel L. Nowell III Dialog\n\n##  Lionel L. Nowell III\n\n**Lead Independent Director,  \nBank of America Corporation  \n  \nFormer Senior Vice President and Treasurer, PepsiCo, Inc. (Pepsi) **\n\nAge: 70  Director since: January 2013\n\nCommittee membership:  Attends meetings of all of the Board committees\n\nMr. Nowell is an active board leader with a deep range of corporate audit,\nfinancial expertise, risk management, operational, and strategic planning\nexperience.\n\nDuring his more than 30-year career with multinational consumer products\nconglomerates, he oversaw the worldwide corporate treasury functions,\nincluding debt and investment activities, capital markets strategies, and\nforeign exchange as Senior Vice President and Treasurer of Pepsi, finance\nfunctions as Chief Financial Officer of Pepsi Bottling Group, and held\nresponsibilities for strategy and business development as a Senior Vice\nPresident at RJR Nabisco. Mr. Nowell brings a robust corporate governance and\nboard leadership perspective through his current and prior service on public\ncompany boards across varying industries and through his ongoing dialogue with\ninstitutional shareholders as our Board\u2019s Lead Independent Director. In 2022,\nMr. Nowell was named \u201cIndependent Director of the Year\u201d by Corporate Board\nMember\n\n###  Professional highlights:\n\n  * Served as Senior Vice President and Treasurer of Pepsi, a leading global food, snack, and beverage company, from 2001 to May 2009; and as Chief Financial Officer of The Pepsi Bottling Group and Controller of Pepsi \n  * Served as Senior Vice President, Strategy and Business Development at RJR Nabisco, Inc., from 1998 to 1999 \n  * Held various senior financial roles at the Pillsbury division of Diageo plc, including Chief Financial Officer of its Pillsbury North America, Pillsbury Foodservice, and H\u00e4agen-Dazs divisions; and also served as Controller and Vice President of Internal Audit of the Pillsbury Company \n  * As our Board\u2019s Lead Independent Director, Mr. Nowell has an extensive set of responsibilities that brings him into frequent communications with our primary regulators, institutional shareholders, other stakeholders, and our employees and customers. \n  * Member of the Board of Directors of Ecolab Inc., Chair of its Audit Committee and member of its Finance Committee \n  * Member of the Board of Directors of Textron Inc. and Chair of its Audit Committee \n  * Served as a member of the Board of Directors of American Electric Power Company, Inc., from July 2004 to April 2020; Chair of its Audit Committee and as a member of its Directors and Corporate Governance, Policy, Executive, and Finance Committees \n  * Served as Lead Director of the Board of Directors of Reynolds American, Inc., from January 2017 to July 2017; and as a Board member, from September 2007 to July 2017 \n\n###  Other leadership experience and service:\n\n  * Former member of the Dean\u2019s Advisory Council at The Ohio State University Max M. Fisher College of Business \n\n###  Other U.S.-listed company boards:\n\n  * Ecolab Inc. \n  * Textron Inc. \n  * American Electric Power Company, Inc. _(past five years)_\n\nView Bio\n\n###  **Sharon L. Allen**\n\nFormer Chairman,  \nDeloitte LLP\n\n  \nView Bio\n\nSame page link Sharon L. Allen Dialog\n\n##  Sharon L. Allen\n\n**Former Chairman,  \nDeloitte LLP (Deloitte) **\n\nAge: 73  Director since: August 2012\n\nCommittee membership:  Audit Committee (chair) / Corporate Governance\nCommittee\n\nMs. Allen is an experienced director who brings deep auditing and consulting\nservices, financial reporting, and corporate governance experience to our\nBoard.\n\nAs a corporate leader, Ms. Allen has broad experience leading and working with\nlarge, complex businesses and brings an international perspective on risk\nmanagement and strategic planning. During her nearly 40-year career with\nDeloitte, the largest professional services organization in the U.S. and\nmember firm of Deloitte Touche Tohmatsu Limited (DTTL), she became the first\nwoman elected to serve as Chairman of the Board and also served as a member of\nDTTL\u2019s Global Board of Directors, the chair of its Global Risk Committee, and\nthe U.S. representative of its Global Governance Committee. During her tenure\nat Deloitte, Ms. Allen oversaw relationships with major multinational\ncorporations and provided oversight and guidance to management.\n\n###  Professional highlights:\n\n  * Served as Chairman of Deloitte, a firm that provides audit, consulting, financial advisory, risk management, and tax services, as the U.S. member firm of DTTL, from 2003 to 2011 \n  * Employed at Deloitte for nearly 40 years in various leadership roles, including Partner and Regional Managing Partner; and responsible for audit and consulting services for a number of Fortune 500 and large private companies \n  * Former member of the Global Board of Directors, Chair of the Global Risk Committee, and U.S. Representative on the Global Governance Committee of DTTL, from 2003 to 2011 \n  * Member of the Board of Directors of Albertsons Companies, Inc. and its Audit & Risk Committee, and Chair of its Governance, Compliance and ESG Committee \n  * Former member of the Board of Directors of First Solar, Inc., Chair of its Audit Committee and a member of its Technology Committee \n\n###  Other leadership experience and service:\n\n  * Former Director and Chair of the National Board of Directors of the YMCA of the USA, a leading nonprofit organization for youth development, healthy living, and social responsibility \n  * Former Vice Chair of the Board of Trustees of the Autry National Center, the governing body of the Autry Museum of the American West \n  * Appointed by President George W. Bush to the President\u2019s Export Council, which advised the President on export enhancement \n\n###  Other U.S.-listed company boards:\n\n  * Albertsons Companies, Inc. \n  * First Solar, Inc. _(past five years)_\n\nView Bio\n\n###  **Jos\u00e9 (Joe) E. Almeida**\n\nFormer Chairman, President,  \nand Chief Executive Officer,  \nBaxter International Inc.\n\n  \nView Bio\n\nSame page link Jos\u00e9 (Joe) E. Almeida Dialog\n\n##  Jos\u00e9 (Joe) E. Almeida\n\n**Former Chairman, President,  \nand Chief Executive Officer,  \nBaxter International Inc. (Baxter) **\n\nAge: 62  Director since: September 2022\n\nCommittee membership:  Audit Committee / Compensation and Human Capital\nCommittee\n\nMr. Almeida is a former chief executive officer and public company director\nwith experience leading large, global companies subject to regulatory\noversight. His service as a board member for global companies in a variety of\nindustries also brings additional perspective to our Board.\n\nAs former Chairman, President, and Chief Executive Officer of Baxter, Mr.\nAlmeida led the company through a period of transformation driven by\ninnovation, operational excellence, and strategic execution. Prior to joining\nBaxter, Mr. Almeida served as Chairman, President and Chief Executive Officer\nand on the Board of Directors of Covidien and served in leadership roles at\nTyco Healthcare (Covidien\u2019s predecessor), Wilson Greatbatch Technologies Inc.,\nAmerican Home Products\u2019 Acufex Microsurgical division, and Johnson & Johnson\u2019s\nProfessional Products division. He began his career as a management consultant\nat Andersen Consulting (Accenture) and previously served on the Boards of\nDirectors of Walgreens Boots Alliance, Inc., Analog Devices, Inc., EMC\nCorporation, and State Street Corporation.\n\n###  Professional highlights:\n\n  * Former Chairman of the Board, President and CEO of Baxter, a global medtech leader, from 2016 to February 2025. Began serving as an executive officer of Baxter in October 2015 \n  * Served as Senior Advisor with The Carlyle Group, a multinational private equity, alternative asset management and financial services corporation, from May 2015 to October 2015 \n  * Served as Chairman, President and Chief Executive Officer and as President and Chief Executive Officer of Covidien, a global healthcare products company, from March 2012 through January 2015 and from July 2011 to March 2012, respectively, prior to the acquisition of Covidien by Medtronic plc \n  * Prior to becoming Covidien\u2019s President and Chief Executive officer, served in several leadership roles at Covidien, including President of its Worldwide Medical Devices business; also served as President of International and Vice President of Global Manufacturing for Covidien\u2019s predecessor, Tyco Healthcare \n  * Served on the Boards of Directors of: Baxter; Walgreens Boots Alliance, Inc., including on its Compensation Committee; State Street Corporation, including on its Executive Compensation Committee; Analog Devices, Inc.; and EMC Corporation \n  * Served on the Board of Trustees of Partners in Health \n\n###  Other leadership experience and service:\n\n  * Serves on the Board of Trustees of Northwestern University \n\n###  Other U.S.-listed company boards:\n\n  * Baxter _(past five years)_\n  * Walgreens Boots Alliance, Inc. _(past five years)_\n\nView Bio\n\n###  **Pierre J. P. de Weck**\n\nFormer Chairman and  \nGlobal Head of Private Wealth  \nManagement, Deutsche Bank AG\n\n  \nView Bio\n\nSame page link Pierre J. P. de Weck Dialog\n\n##  Pierre J. P. de Weck\n\n**Former Chairman and  \nGlobal Head of Private Wealth  \nManagement, Deutsche Bank AG **\n\nAge: 74  Director since: July 2013\n\nCommittee membership:  Compensation and Human Capital Committee / Enterprise\nRisk Committee\n\nMr. de Weck is a Swiss national based in Europe with deep knowledge of the\nglobal financial services industry.\n\nAs a senior executive with a tenure of more than three decades in global\nfinancial services, including as a member of the Group Executive Committee and\nGlobal Head of Private Wealth Management of Deutsche Bank AG in London, and as\nChief Executive Officer of North America, Chief Executive Officer of Europe,\nand a member of the Group Executive Board at UBS AG, and as Chief Executive\nOfficer of UBS Capital, Mr. de Weck has extensive experience in risk\nmanagement, including credit risk management. He brings valuable international\nperspective to our company\u2019s business activities, including to our European\nsubsidiaries through his service on the Boards of Directors of Merrill Lynch\nInternational (MLI), our U.K. broker-dealer subsidiary, and BofA Securities\nEurope S.A. (BofASE), our French broker-dealer subsidiary.\n\n###  Professional highlights:\n\n  * Served as the Chairman and Global Head of Private Wealth Management and as a member of the Group Executive Committee of Deutsche Bank AG, from 2002 to May 2012 \n  * Served on the Management Board of UBS, from 1994 to 2001; as Head of Institutional Banking, from 1994 to 1997; as Chief Credit Officer and Head of Private Equity, from 1998 to 1999; and as Head of Private Equity, from 2000 to 2001 \n  * Held various senior management positions at Union Bank of Switzerland, a predecessor firm of UBS, from 1985 to 1994 \n  * Chair of the Board of Directors of MLI (and previously chair of the MLI Board\u2019s Risk Committee); and Chair of the Board of Directors of BofASE \n  * Member of the Board of Directors of 360 ONE WAM Limited, a company listed on the National Stock Exchange of India and the BSE \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Arnold W. Donald**\n\nFormer President and  \nChief Executive Officer,  \nCarnival Corporation and  \nCarnival plc  \n  \nIncoming Lead  \nIndependent Director,  \nSalesforce, Inc.\n\n  \nView Bio\n\nSame page link Arnold W. Donald Dialog\n\n##  Arnold W. Donald\n\n**Former President and  \nChief Executive Officer,  \nCarnival Corporation and  \nCarnival plc (Carnival)  \n  \nIncoming Lead  \nIndependent Director,  \nSalesforce, Inc. (Salesforce) **\n\nAge: 70  Director since: January 2013\n\nCommittee membership:  Audit Committee / Compensation and Human Capital\nCommittee\n\nMr. Donald has more than three decades of strategic planning, global\noperations, and risk management experience in regulated, consumer, retail, and\ndistribution businesses.\n\nHe brings expertise in business transformation through his service as\nPresident and Chief Executive Officer of Carnival, one of the world\u2019s largest\nleisure travel companies with operations worldwide, his leadership roles with\nglobal responsibilities at Monsanto, and his experience as a public company\ndirector. Through his leadership of nonprofit organizations, including The\nExecutive Leadership Council and the Juvenile Diabetes Research Foundation\nInternational, Mr. Donald also brings focus and perspective on our work to\npromote talent, inclusion, and opportunity for our employees and the\ncommunities we serve.\n\n###  Professional highlights:\n\n  * Served as President, Chief Executive Officer, and Chief Climate Officer of Carnival, a cruise and vacation company, from July 2013 to November 2022; began serving on Carnival\u2019s Board of Directors in 2001 \n  * Served as President and Chief Executive Officer, from November 2010 to June 2012 of The Executive Leadership Council, a nonprofit organization providing a professional network and business forum to African-American executives at major U.S. companies \n  * Served as President and Chief Executive Officer of the Juvenile Diabetes Research Foundation International, from January 2006 to February 2008 \n  * Served as Chairman and Chief Executive Officer of Merisant, from 2000 to 2003, a privately held global manufacturer of tabletop sweeteners, and remained as Chairman until 2005 \n  * Joined Monsanto in 1977 and held several senior leadership positions with global responsibilities, including President of its Agricultural Group and President of its Nutrition and Consumer Sector, over a more than 20-year tenure \n  * Member of the Board of Directors of GE Vernova, Chair of its Compensation and Human Capital Committee and member of its Nominating and Governance Committee \n  * Member of the Board of Directors of MP Materials Corp. and its Compensation Committee \n  * Incoming Lead Independent Director of Salesforce, Inc., member of its Audit & Finance and Nominating & Corporate Governance Committees \n  * Served as a member of the Board of Directors of Carnival and its Executive Committee \n\n###  Other leadership experience and service:\n\n  * Appointed by President Clinton and re-appointed by President George W. Bush to the President\u2019s Export Council \n\n###  Other U.S.-listed company boards:\n\n  * GE Vernova \n  * MP Materials Corp. \n  * Salesforce, Inc. \n  * Carnival _(past five years)_\n\nView Bio\n\n###  **Linda P. Hudson**\n\nFormer President and  \nChief Executive Officer,  \nBAE Systems, Inc.\n\n  \nView Bio\n\nSame page link Linda P. Hudson Dialog\n\n##  Linda P. Hudson\n\n**Former President and  \nChief Executive Officer,  \nBAE Systems, Inc. (BAE) **\n\nAge: 74  Director since: August 2012\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nMs. Hudson has extensive executive leadership experience, with a focus on risk\nmanagement.\n\nShe brings international perspective, geopolitical insights, and broad\nknowledge in strategic planning, technology, global operations, and risk\nmanagement to our Board through a career in the defense, aerospace, and\nsecurity industries that spanned more than 40 years. As the former President\nand Chief Executive Officer of BAE and the first woman to lead a major\nnational security corporation, Ms. Hudson oversaw a global, highly regulated,\nand complex U.S.-based defense, aerospace, and security company, wholly owned\nby London-based BAE Systems plc (BAE Systems), where she also served as an\nexecutive director. Through her leadership positions, including with General\nDynamics Corporation and its Armament and Technical Products division, Ms.\nHudson also brings focus and perspective to the Board\u2019s oversight of\ntechnology and related risks, including cybersecurity risks.\n\n###  Professional highlights:\n\n  * Served as Chairman and Chief Executive Officer of The Cardea Group, LLC, a management consulting business, from May 2014 to January 2020 \n  * Served as CEO Emeritus of BAE, a U.S.-based subsidiary of BAE Systems, a global defense, aerospace, and security company headquartered in London, from February 2014 to May 2014, and as President and Chief Executive Officer of BAE, from October 2009 until January 2014 \n  * Served as President of BAE Systems\u2019 Land and Armaments operating group, the world\u2019s largest military vehicle and equipment business, from October 2006 to October 2009 \n  * Prior to joining BAE, served as Vice President of General Dynamics Corporation and President of its Armament and Technical Products division; held various positions in engineering, production operations, program management, and business development for defense and aerospace companies \n  * Served as a member of the Executive Committee and as an executive director of BAE Systems, from 2009 until January 2014; and as a member of the Board of Directors of BAE, from 2009 to April 2015 \n  * Member of the Board of Directors of Trane Technologies plc and its Human Resources and Compensation Committee and its Sustainability, Corporate Governance & Nominating Committee; and Chair of its Technology and Innovation Committee \n  * Served as a member of the Board of Directors of TPI Composites, Inc. and its Nominating and Corporate Governance Committee and Technology Committee \n\n###  Other leadership experience and service:\n\n  * Elected member to the National Academy of Engineering, one of the highest professional honors accorded an engineer \n  * Member of the Board of Directors of the University of Florida Foundation, Inc. and the advisory board of the University of Florida Engineering Leadership Institute \n  * Former member of the Charlotte Center Executive Board for the Wake Forest University School of Business \n  * Former member of the Board of Trustees of Discovery Place, a nonprofit education organization dedicated to inspiring exploration of the natural and social world \n  * Member of the Board of Directors of Shands Teaching Hospital and Clinics, Inc., the healthcare system affiliated with the University of Florida College of Medicine \n  * Member of the Board of Directors of University of Florida\u2019s Gator Boosters, Inc. \n\n###  Other U.S.-listed company boards:\n\n  * Trane Technologies plc (formerly Ingersoll-Rand plc) \n  * TPI Composites, Inc. _(past five years)_\n\nView Bio\n\n###  **Monica C. Lozano**\n\nFormer Chief Executive Officer,  \nCollege Futures Foundation  \n  \nFormer Chairman,  \nUS Hispanic Media Inc\n\n  \nView Bio\n\nSame page link Monica C. Lozano Dialog\n\n##  Monica C. Lozano\n\n**Former Chief Executive Officer,  \nCollege Futures Foundation  \n  \nFormer Chairman,  \nUS Hispanic Media Inc **\n\nAge: 68  Director since: April 2006\n\nCommittee membership:  Compensation and Human Capital Committee _(chair)_ /\nEnterprise Risk Committee\n\nMs. Lozano brings a broad range of leadership experience in the public and\nprivate sectors through her active participation in public service and her\nservice as chief executive officer and as a public company director. She also\nbrings a track record as a champion for talent, inclusion, and opportunity.\n\nAs Chief Executive Officer of College Futures Foundation, a charitable\nfoundation focused on increasing the rate of bachelor\u2019s degree completion\namong California student populations who are low-income and have had a\nhistorically low college success rate, she worked to increase the rate of\ncollege graduation and improve opportunity for low-income students and\nstudents of color in California. With 30 years at La Opini\u00f3n, the largest\nSpanish-language newspaper in the U.S., including as editor and publisher, as\nChairman and Chief Executive Officer of its parent company, ImpreMedia LLC,\nand as co-founder of the Aspen Institute Latinos and Society Program, Ms.\nLozano possesses deep insights into the issues that impact the Hispanic-Latino\ncommunity. As a director serving on the boards of large organizations with\ndiversified international operations, including Apple Inc. and Target\nCorporation, and previously The Walt Disney Company, Ms. Lozano has long-\nstanding experience overseeing matters ranging from corporate governance,\nhuman capital management, and executive compensation, to risk management and\nfinancial reporting. In addition, as a member of California\u2019s Task Force on\nJobs and Business Recovery, Ms. Lozano has valuable perspective on important\npublic policy, societal, and economic issues.\n\n###  Professional highlights:\n\n  * Served as Chief Executive Officer of College Futures Foundation, from December 2017 to July 2022 and a member of the Board of Directors, from December 2019 to July 2022 \n  * Served as Chair of the Board of Directors of U.S. Hispanic Media Inc., the parent company of ImpreMedia, a leading Hispanic news and information company, from June 2014 to January 2016 \n  * Served as Chairman of ImpreMedia, from July 2012 to January 2016; Chief Executive Officer, from May 2010 to May 2014; and Senior Vice President, from January 2004 to May 2010 \n  * Served as Publisher of La Opini\u00f3n, a subsidiary of ImpreMedia and the leading Spanish-language daily print and online newspaper in the U.S., from 2004 to May 2014; and Chief Executive Officer, from 2004 to July 2012 \n  * Strategic advisor to multiple media companies \n  * Member of the Board of Directors of Apple Inc. and its Audit and Finance Committee \n  * Member of the Board of Directors of Target and its Governance & Sustainability Committee, Chair of its Compensation & Human Capital Management Committee, and former Lead Independent Director \n\n###  Other leadership experience and service:\n\n  * Member of California\u2019s Task Force on Jobs and Business Recovery \n  * Served as a member of President Obama\u2019s Council on Jobs and Competitiveness, from 2011 to 2012; and served on President Obama\u2019s Economic Recovery Advisory Board, from 2009 to 2011 \n  * Served on COMEXUS, a binational commission dedicated to strengthening ties between the two countries through business, education, and cultural collaboration \n  * Member of the Board of Directors of the Weingart Foundation \n  * Served as the Chair of the Board of Regents of the University of California; as a member of the Board of Trustees of The Rockefeller Foundation; as a member of the Board of Trustees of the University of Southern California; and as a member of the State of California Commission on the 21st Century Economy \n\n###  Other U.S.-listed company boards:\n\n  * Apple Inc. \n  * Target Corporation \n\nView Bio\n\n###  **Maria N. Martinez**\n\nFormer Executive Vice President and  \nChief Operating Officer,  \nCisco Systems, Inc.\n\n  \nView Bio\n\nSame page link Maria N. Martinez Dialog\n\n##  Maria N. Martinez\n\n**Former Executive Vice President and  \nChief Operating Officer,  \nCisco Systems, Inc. **\n\nAge: 67  Director since: January 2025\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nMs. Martinez brings extensive technology, risk management, and strategic\nplanning experience for global businesses to our Board.\n\nMs. Martinez\u2019s experience at Cisco Systems, Salesforce, and Microsoft enables\nher to bring extensive technology knowledge to our Board. Her leadership roles\nprovide her with strategic planning, risk management, and executive leadership\nexperience. Her history of public company board experience gives her insight\ninto governance of large, complex, and regulated companies.\n\n###  Professional highlights:\n\n  * Served as Executive Vice President and Chief Operating Officer from 2021 to 2024, and as Executive Vice President and Chief Customer Experience Officer from 2018 until 2021 at Cisco Systems, Inc., a multinational digital communications technology company \n  * Served in a variety of senior executive roles at Salesforce, Inc. between 2010 and 2018, including: President, Global Customer Success and Latin America; President, Sales and Customer Success; Executive Vice President and Chief Growth Officer; and Executive Vice President, Customers for Life \n  * Managed the Global Services business for Microsoft Corporation, including professional services and customer support for all products during her tenure there from 2003 to 2007 \n  * Member of the Board of Directors of McKesson Corporation and its Compliance Committee and Chair of its Governance and Sustainability Committee \n  * Member of the Board of Directors of Tyson Foods, Inc. and its Governance and Nominating Committee and Strategy and Acquisitions Committee \n  * Served as a member of the Board of Directors of Cue Health Inc. and its Audit and Compensation Committees and Chair of its Nominating and Governance Committee \n\n###  Other leadership experience and service:\n\n  * Former member of the Board of Trustees of the Computer History Museum \n  * Former member of the Board of Trustees of Silicon Valley Education Foundation \n\n###  Other U.S.-listed company boards:\n\n  * McKesson Corporation \n  * Tyson Foods, Inc. \n  * Cue Health Inc. _(past five years)_\n\nView Bio\n\n###  **Denise L. Ramos**\n\nFormer Chief Executive Officer and President, ITT Inc.\n\n  \nView Bio\n\nSame page link Denise L. Ramos Dialog\n\n##  Denise L. Ramos\n\n**Former Chief Executive Officer and President, ITT Inc. (ITT)**\n\nAge: 68  Director since: July 2019\n\nCommittee membership:  Audit Committee / Compensation and Human Capital\nCommittee\n\nMs. Ramos is an experienced public company executive who brings global\nbusiness leadership, financial expertise, and strategic planning experience to\nour Board.\n\nMs. Ramos served as Chief Executive Officer of ITT, a diversified manufacturer\nof engineered components and customized technology solutions for the\ntransportation, industrial, and energy markets, focusing on innovation and\ntechnology. She was Chief Financial Officer at ITT, Furniture Brands\nInternational, and the U.S. KFC division of Yum! Brands, and served as the\ncorporate treasurer at Yum! Brands. Through her public company board service\non the Boards of Phillips 66 and RTX Corporation, Ms. Ramos brings board-level\ninsights into issues facing complex, regulated global public companies and\noversight experience in finance, audit, corporate governance, public policy,\nand sustainability.\n\n###  Professional highlights:\n\n  * Chief Executive Officer and President of ITT, a diversified manufacturer of critical components and customized technology solutions, from 2011 to 2019; and Senior Vice President and Chief Financial Officer of ITT, from 2007 to 2011 \n  * Served as Chief Financial Officer for Furniture Brands International, a former home furnishings company, from 2005 to 2007 \n  * Served in various roles at Yum! Brands Inc., an American fastfood company, from 2000 to 2005, including Chief Financial Officer of the U.S. Division of KFC Corporation and as Senior Vice President and Treasurer \n  * Began her career at Atlantic Richfield Company, where she spent more than 20 years in a number of finance positions \n  * Member of the Board of Directors of Phillips 66 and its Human Resources and Compensation Committee and Public Policy and Sustainability Committee \n  * Member of the Board of Directors of RTX Corporation and its Audit Committee and Governance and Public Policy Committee \n\n###  Other U.S.-listed company boards:\n\n  * Phillips 66 (through May 2025)  (1) \n  * RTX Corporation \n\n(1)  Ms. Ramos has announced her intent not to stand for reelection to the\nboard of Phillips 66 at its 2025 annual meeting of shareholders.\n\nView Bio\n\n###  **Clayton S. Rose**\n\nBaker Foundation Professor of Management Practice,  \nHarvard Business School\n\n  \nView Bio\n\nSame page link Clayton S. Rose Dialog\n\n##  Clayton S. Rose\n\n**Baker Foundation Professor of Management Practice,  \nHarvard Business School **\n\nAge: 66  Director since: October 2018\n\nCommittee membership:  Compensation and Human Capital Committee / Enterprise\nRisk Committee _(chair)_\n\nDr. Rose is an executive leader in academics and the private sector who brings\nrisk management experience, public policy and social thought leadership, broad\nglobal financial services industry knowledge, and strategic planning\nexperience to our Board.\n\nAs former President of Bowdoin College, Dr. Rose has a legacy of promoting\nintellectual engagement with a diverse set of ideas and issues; increasing\naccess and opportunity for students; enhancing programs for postgraduate\nsuccess; advancing inclusion; and addressing mental health challenges facing\nyouth. As a Harvard Business School faculty member, Dr. Rose has taught and\nwritten on issues of leadership, ethics, the financial crisis, and the role of\nbusiness in society. Dr. Rose spent the first 20 years of his career with\nJPMorgan Chase & Co. and its predecessor company, where he retired as Vice\nChairman after leading the global investment banking and equities businesses,\nas well as holding leadership roles in securities, derivatives, and corporate\nfinance in New York and London. Following retirement from JPMorgan Chase, Dr.\nRose received a master\u2019s degree and PhD with distinction in sociology from the\nUniversity of Pennsylvania. Dr. Rose also holds an MBA from the University of\nChicago. Dr. Rose has served on several financial institutions boards and\ncurrently serves as Chair of the Board of Trustees of the Howard Hughes\nMedical Institute, the U.S.\u2019s largest private supporter of academic biomedical\nresearch.\n\n###  Professional highlights:\n\n  * Baker Foundation Professor of Management Practice at Harvard usiness School \n  * Former President of Bowdoin College \u2022 Served as a professor at Harvard Business School prior to his appointment as President of Bowdoin College \n  * Served as Vice Chairman, headed two lines of business\u2013Global Investment Banking and Global Equities\u2013and was a member of JPMorgan Chase\u2019s senior management team during his approximately 20-year tenure at JPMorgan Chase \n  * Served as a member of the Boards of Directors of XL Group, plc, Federal Home Loan Mortgage Corporation (Freddie Mac), and Mercantile Bankshares Corp. \n\n###  Other leadership experience and service:\n\n  * Trustee and Chair of the Board of Trustees for Howard Hughes Medical Institute and formerly Chair of the Audit and Compensation Committee \n  * Member of the Board of Directors of Pew Charitable Trusts \n  * Served on the company\u2019s Board of Directors, from 2013 to 2015 \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Michael D. White**\n\nFormer Chairman, President  \nand Chief Executive Officer,  \nDIRECTV\n\n  \nView Bio\n\nSame page link Michael D. White Dialog\n\n##  Michael D. White\n\n**Former Chairman, President  \nand Chief Executive Officer,  \nDIRECTV **\n\nAge: 73  Director since: June 2016\n\nCommittee membership:  Audit Committee / Corporate Governance Committee\n_(chair)_\n\nMr. White is a seasoned executive and public company director with experience\nleading the global operations and strategic direction of complex and highly\nregulated multinational consumer retail and distribution businesses.\n\nHe possesses executive and board leadership experience and provides broad\nranging operational and strategic insights, an international perspective, and\nfinancial expertise to our Board. Mr. White was President, Chief Executive\nOfficer, and Chairman of the Board of Directors of DIRECTV, where he oversaw\nthe operations and strategic direction of the company in the U.S. and in Latin\nAmerica. Prior to joining DIRECTV, he served as the Chief Executive Officer of\nPepsiCo International, Frito-Lay\u2019s Europe, Africa, and Middle East division,\nand Snack Ventures Europe, PepsiCo\u2019s partnership with General Mills\nInternational. He also served as Chief Financial Officer of PepsiCo., Inc.,\nPepsi-Cola Company worldwide, and Frito-Lay International. Mr. White began his\ncareer as a management consultant at Bain & Company and Arthur Andersen & Co.\n\n###  Professional highlights:\n\n  * Served as Chairman, President, and Chief Executive Officer of DIRECTV, a leading provider of digital television entertainment services, from January 2010 to August 2015; and as a Director of the company, from November 2009 until August 2015 \n  * Chief Executive Officer of PepsiCo International, from February 2003 until November 2009; and served as Vice Chairman and director of PepsiCo, from March 2006 to November 2009, after holding positions of increasing importance with PepsiCo since 1990 \n  * Served as Senior Vice President at Avon Products, Inc. \n  * Served as a Management Consultant at Bain & Company and Arthur Andersen & Co. \n  * Served as Lead Director of the Board of Directors of Kimberly- Clark Corporation; and Chair of its Executive Committee \n  * Served as a member of the Board of Directors of Whirlpool Corporation; Chair of its Audit Committee; and a member of its Corporate Governance and Nominating Committee \n\n###  Other leadership experience and service:\n\n  \n\n  * Vice Chair of The Partnership to End Addiction \n\n###  Other U.S.-listed company boards:\n\n  * Kimberly-Clark Corporation _(past five years)_\n  * Whirlpool Corporation _(past five years)_\n\nView Bio\n\n###  **Thomas D. Woods**\n\nFormer Vice Chairman and  \nSenior Executive Vice  \nPresident, Canadian Imperial  \nBank of Commerce\n\n  \nView Bio\n\nSame page link Thomas D. Woods Dialog\n\n##  Thomas D. Woods\n\n**Former Vice Chairman and  \nSenior Executive Vice  \nPresident, Canadian Imperial  \nBank of Commerce (CIBC) **\n\nAge: 72  Director since: April 2016\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nMr. Woods is a veteran financial services executive with experience in risk\nmanagement, corporate strategy, finance, and the corporate and investment\nbanking businesses.\n\nMr. Woods is a veteran financial services executive with experience in risk\nmanagement, corporate strategy, finance, and the corporate and investment\nbanking businesses.\n\n###  Professional highlights:\n\n  * Served as Vice Chairman and Senior Executive Vice President of CIBC, a leading Canada-based global financial institution, from July 2013 until his retirement in December 2014 \n  * Served as Senior Executive Vice President and Chief Risk Officer of CIBC, from 2008 to July 2013; and Senior Executive Vice President and Chief Financial Officer of CIBC, from 2000 to 2008 \n  * Began his career at CIBC in 1977 through Wood Gundy, a predecessor firm; served in various senior leadership positions, including as Controller of CIBC; as Chief Financial Officer of CIBC World Markets (CIBC\u2019s investment banking division); and as the Head of CIBC\u2019s Canadian Corporate Banking division \n  * Served as Chair of the Board of Directors of Hydro One Limited, an electricity transmission and distribution company serving the Canadian province of Ontario, and publicly traded and listed on the Toronto Stock Exchange, from August 2018 to July 2019 \n  * Member of the Board of Directors of MLI; Chair of its Risk Committee; and member of its Governance Committee \n  * Member of the Board of Directors of BofASE \n\n###  Other leadership experience and service:\n\n  * Chair of Board of Directors of Institute of Corporate Directors (Institut des Administrateurs de Soci\u00e9t\u00e9s) \n  * On the advisory committee of Cordiant Capital Inc., a global infrastructure and real assets manager \n  * Member of the University of Toronto College of Electors and of the Boards of Directors of Catholic Health Sponsors of Ontario and St. Michael\u2019s Hospital Foundation \n  * Former member of the Board of Directors of Alberta Investment Management Corporation, a Canadian institutional investment fund manager from 2015 to 2024; of the Board of Directors of Jarislowsky Fraser Limited, a global investment management firm, from 2016 to 2018; of the Boards of Directors of DBRS Limited and DBRS, Inc., an international credit rating agency, from 2015 to 2016; and of the Board of Directors of TMX Group Inc., a Canada-based financial services company, from 2012 to 2014 \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Maria T. Zuber**\n\nPresidential Advisor for  \nScience  \nand Technology Policy  \nand E.A. Griswold Professor of  \nGeophysics,  \nMassachusetts Institute of Technology\n\n  \nView Bio\n\nSame page link Maria T. Zuber Dialog\n\n##  Maria T. Zuber\n\n**Presidential Advisor for  \nScience  \nand Technology Policy  \nand E.A. Griswold Professor of  \nGeophysics,  \nMassachusetts Institute of Technology (MIT) **\n\nAge: 66  Director since: December 2017\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nDr. Zuber is a distinguished research scientist and academic leader who brings\na breadth of risk management, technology, geopolitical insights, and strategic\nplanning thought leadership to our Board.\n\nDr. Zuber is the first woman to lead a science department at MIT and the first\nwoman to lead a NASA planetary mission. While serving as Vice President for\nResearch at MIT, Dr. Zuber oversaw multiple interdisciplinary research\nlaboratories and centers focusing on cancer research, energy and environmental\nsolutions initiatives, plasma science and fusion, electronics, nanotechnology,\nand radio science and technology. She also led the development of MIT\u2019s\ninitial Climate Action Plan, and is responsible for intellectual property,\nresearch integrity and compliance, and research relationships with the federal\ngovernment. Dr. Zuber has held leadership roles on 10 space exploratory\nmissions with NASA. She also served on the National Science Board under\nPresident Obama and President Trump and was Co-Chair of President Biden\u2019s\nCouncil of Advisors on Science and Technology.\n\n###  Professional highlights:\n\n  * Presidential Advisor for Science and Technology Policy at MIT, a leading research institution, since 2023, where she tracks trends and seizes opportunities to inform and advance state and federal science and technology policy and provides strategic direction to campus labs, centers, and initiatives connected to defense or national security and represents MIT with external stakeholders \n  * Served as Vice President for Research at MIT, from 2013 to 2024, where she oversaw MIT Lincoln Laboratory and more than a dozen interdisciplinary research laboratories and centers and led the development of MIT\u2019s initial Climate Action Plan \n  * Served as a Professor at MIT since 1995, and was Head of the Earth, Atmospheric, and Planetary Sciences Department, from 2003 to 2011 \n  * Served in a number of positions at NASA, including as a Geophysicist, from 1986 to 1992, a Senior Research Scientist, from 1993 to 2010; and as Principal Investigator of the Gravity Recovery and Interior Laboratory (GRAIL) mission, from 2008 to 2017, which was designed to create the most accurate gravitational map of the moon to date and give scientists insight into the moon\u2019s internal structure, composition, and evolution; and held leadership roles associated with scientific experiments or instrumentation on 10 NASA missions \n  * Member of the Board of Directors of Textron Inc. and Chair of its Nominating and Corporate Governance Committee \n\n###  Other leadership experience and service:\n\n  * Appointed by President Biden in 2021 as Co-Chair of the President\u2019s Council of Advisors on Science and Technology \n  * Appointed by President Obama in 2013 and reappointed by President Trump in 2018 to the National Science Board, a 25-member panel that serves as the governing board of the National Science Foundation and as advisors to the President and Congress on policy matters relating to science and engineering; and served as Board Chair, from 2016 to 2018 \n  * Co-Chair of the National Academies of Science, Engineering and Medicine\u2019s National Science, Technology, and Security Roundtable \n  * Chair of NASA\u2019s Mars Sample Return Mission Standing Review Board \n  * Board of Trustees of Brown University \n\n###  Other U.S.-listed company boards:\n\n  * Textron Inc. \n\nThis website uses cookies to ensure you get the best experience on our\nwebsite.  \n[ View our privacy policy.\n](https://newsroom.bankofamerica.com/content/newsroom/home/cookie-policy.html)\n\n  * [ Email Alerts ](/events-and-presentations/email-alerts)\n  * [ Contacts ](/shareholder-information/contact)\n  * [ RSS News Feed ](https://newsroom.bankofamerica.com/content/newsroom/press-releases.html/rss)\n  * [ Terms of use ](/terms-of-use)\n\n##  Footer Information\n\n  * [ Sign in ](https://www.bankofamerica.com/online-banking/sign-in/)\n  * [ Contact us ](https://www.bankofamerica.com/contactus/contactus.go)\n  * [ Location finder ](https://locators.bankofamerica.com/)\n  * [ Help ](https://www.bankofamerica.com/help/overview.go)\n\n  * ##  [ Our company ](https://about.bankofamerica.com/en/our-company)\n\n    * [ Responsible growth ](https://about.bankofamerica.com/en/our-company/responsible-growth)\n    * [ Business practices ](https://about.bankofamerica.com/en/our-company/business-practices)\n    * [ What we offer ](https://about.bankofamerica.com/en/our-company/what-we-offer)\n    * [ Modern Slavery Act Statement ](https://about.bankofamerica.com/content/dam/about/pdfs/Modern-Slavery-Act.pdf)\n  * ##  [ Making an impact ](https://about.bankofamerica.com/en/making-an-impact)\n\n    * [ Local impact ](https://about.bankofamerica.com/en/our-company/local-presence)\n    * [ Sustainable finance ](https://about.bankofamerica.com/en/making-an-impact/sustainable-finance)\n    * [ Supporting economic opportunity ](https://about.bankofamerica.com/en/making-an-impact/racial-equality-economic-opportunity)\n    * [ Environmental sustainability ](https://about.bankofamerica.com/en/making-an-impact/environmental-sustainability)\n    * [ Find resources ](https://about.bankofamerica.com/en/making-an-impact/find-resources)\n  * ##  [ Working here ](https://about.bankofamerica.com/en/working-here)\n\n    * [ Explore Careers ](https://careers.bankofamerica.com/en-us)\n  * ##  [ Investors ](https://investor.bankofamerica.com)\n\n    * [ Profile ](/profile)\n    * [ Quarterly Earnings ](/quarterly-earnings)\n    * [ Events & Presentations ](/events-and-presentations)\n    * [ Regulatory & Other Filings ](/regulatory-and-other-filings)\n    * [ Fixed Income ](/fixed-income)\n    * [ Shareholder Info ](/shareholder-information)\n    * [ Annual Reports & Proxy ](/annual-reports-and-proxy-statements)\n    * [ Governance ](/corporate-governance)\n  * ##  [ Newsroom ](https://newsroom.bankofamerica.com/?cm_re=EBZ-Corp_SocialResponsibility-_-Enterprise-_-EI38LT0004_AboutSite_Newsroom)\n\n    * [ Press releases ](https://newsroom.bankofamerica.com/press-releases)\n    * [ Executive biographies ](https://newsroom.bankofamerica.com/biographies?cm_re=EBZ-Corp_SocialResponsibility-_-About_Us-_-EI38LT000B_About_Us_Biography)\n    * [ Journalist resources ](https://newsroom.bankofamerica.com/journalistresources?cm_re=EBZ-Corp_SocialResponsibility-_-About_Us-_-EI38LT0007_About_Us_Journalist)\n    * [ Awards & recognition ](https://newsroom.bankofamerica.com/awards?cm_re=EBZ-Corp_SocialResponsibility-_-About_Us-_-EI38LT0008_About_Us_Awards)\n\n[ ](https://about.bankofamerica.com/en)\n\n**Investing in securities involves risks, and there is always the potential of\nlosing money when you invest in securities.**\n\n  \n\nThis material does not take into account your particular investment\nobjectives, financial situations or needs and is not intended as a\nrecommendation, offer or solicitation for the purchase or sale of any\nsecurity, financial instrument, or strategy. 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                "page_content": "Skip to content\n\n[ ](https://www.tellurianinc.com)\n\n  * [ Discover ](https://www.tellurianinc.com/about-us/)\n    * [ About Us ](https://www.tellurianinc.com/about-us/)\n    * [ Executive Team ](/company-and-governance/executive-team)\n    * [ Board of Directors ](/company-and-governance/board-of-directors)\n    * [ Governance Documents ](/company-and-governance/governance-documents)\n  * [ Explore ](https://www.tellurianinc.com/our-business/)\n    * [ Our Business ](https://www.tellurianinc.com/our-business/)\n    * [ Driftwood LNG ](http://driftwoodlng.com/)\n    * [ Pipeline ](https://driftwoodpipeline.com/)\n    * [ Upstream ](https://www.tellurianinc.com/our-business/upstream/)\n  * [ Sustainability ](https://www.tellurianinc.com/sustainability/)\n    * [ ESSG Performance Summary ](https://www.tellurianinc.com/corporate-social-responsibility/esg-performance-summary/)\n    * [ Safety ](https://www.tellurianinc.com/sustainability/safety/)\n    * [ Environment ](https://www.tellurianinc.com/sustainability/environment/)\n    * [ Community Participation ](https://www.tellurianinc.com/sustainability/community-participation/)\n    * [ Corporate Governance ](https://www.tellurianinc.com/sustainability/corporate-governance/)\n    * [ Development of Our Diverse Workforce ](https://www.tellurianinc.com/sustainability/development-of-our-diverse-workforce/)\n  * [ News ](https://www.tellurianinc.com/news-and-presentations/)\n  * [ Careers ](https://www.tellurianinc.com/careers/)\n  * [ Contact ](https://www.tellurianinc.com/contact/)\n  * [ Investors ]()\n\nWoodside has completed the acquisition of Tellurian and its US Gulf Coast LNG\nopportunity. Please [ click here ](https://www.woodside.com/) to visit [\nwoodside.com ](https://www.woodside.com/) and learn more.\n\n[ Continue ](https://www.woodside.com/)\n\n#  Investor Relations\n\n##  Company Overview\n\nTellurian intends to create value for shareholders by building a low-cost,\nglobal LNG business, profitably delivering LNG to customers worldwide.\nTellurian is developing a portfolio of LNG infrastructure that includes a ~\n27.6 mtpa LNG export facility and associated pipeline. Tellurian is based in\nHouston, Texas, and its common stock is listed on the NYSE American under the\nsymbol \u201cTELL\u201d.\n\n##  Latest Presentation\n\nJul 21, 2024\n\n[ Letter to Shareholders\n](https://d1io3yog0oux5.cloudfront.net/_2f06f6c955400bce67453f876fe0928a/tellurianinc/db/353/3060/pdf/Tellurian+-+Shareholder+Letter+072124.pdf)\n\n[ View Presentation\n](https://d1io3yog0oux5.cloudfront.net/_2f06f6c955400bce67453f876fe0928a/tellurianinc/db/353/3060/pdf/Tellurian+-+Shareholder+Letter+072124.pdf)\n\n##  Email Alerts\n\nSign up today and receive company updates straight to your inbox.\n\n[ Sign up today ](/news-events-and-emails/email-alerts)\n\n##  Latest News\n\n[ View all news ](https://ir.tellurianinc.com/press-releases)\n\nOct 4, 2024\n\n###  [ Tellurian Announces Approval of Merger Agreement Proposal\n](https://ir.tellurianinc.com/press-releases/detail/292/tellurian-announces-\napproval-of-merger-agreement-proposal)\n\nJul 21, 2024\n\n###  [ Tellurian to be Acquired by Woodside for Approximately $900 Million\n](https://ir.tellurianinc.com/press-releases/detail/291/tellurian-to-be-\nacquired-by-woodside-for-approximately-900)\n\nJul 1, 2024\n\n###  [ Tellurian Closes $260 Million Asset Sale and Retires Senior Secured\nDebt ](https://ir.tellurianinc.com/press-releases/detail/290/tellurian-\ncloses-260-million-asset-sale-and-retires-senior)\n\n##  IR Contacts\n\n###  Headquarters\n\nTellurian Inc.  \n1201 Louisiana Street  \nSuite 3100  \nHouston, Texas 77002  \nT: +1 (832) 962-4000\n\n###  Investor Relations\n\nTellurian Inc.  \n1201 Louisiana Street  \nSuite 3100  \nHouston, Texas 77002  \nT: +1 (832) 320-9548  \n[ ir@tellurianinc.com ](mailto:ir@tellurianinc.com)  \n\n###  Transfer Agent\n\nBroadridge Corporate Issuer Solutions, Inc.  \nP.O. Box 1342  \nBrentwood, New York 11717  \nT: +1 (720) 864-4767  \n[ shareholder@broadridge.com ](mailto:shareholder@broadridge.com)  \n[ https://www.broadridge.com ](https://www.broadridge.com)\n\n  * [ Email Alerts ](/news-events-and-emails/email-alerts)\n  * [ Contacts ](/company-and-governance/contacts)\n  * [ RSS News Feed ](https://ir.tellurianinc.com/press-releases/rss)\n\n  * [ Discover ](https://www.tellurianinc.com/about-us/)\n  * [ Explore ](https://www.tellurianinc.com/our-business/)\n  * [ Sustainability ](https://www.tellurianinc.com/sustainability/)\n  * [ News ](https://www.tellurianinc.com/news-and-presentations/)\n  * [ Careers ](https://www.tellurianinc.com/careers/)\n  * [ Contact ](https://www.tellurianinc.com/contact/)\n  * [ Investors ](https://www.tellurianinc.com/investor/)\n\n\u00a9 2021 Tellurian Inc. All Rights Reserved.  |  Site By: [ Axiom ](https://www.axiom.us.com/)\n\n  * [ Twitter  __ ](https://twitter.com/TellurianLNG)\n  * [ Linkedin  __ ](https://www.linkedin.com/company/tellurian-inc./)\n  * [ Youtube  __ ](https://www.youtube.com/channel/UCyfuimT5_MbqYTGLsWUBy-Q)\n\nMarket Data copyright \u00a9 2025 [ QuoteMedia ](http://www.quotemedia.com) . Data\ndelayed 15 minutes unless otherwise indicated (view [ delay times\n](http://www.quotemedia.com/legal/tos/#times) for all exchanges).  RT  =Real-\nTime,  EOD  =End of Day,  PD  =Previous Day. Market Data powered by [\nQuoteMedia ](http://www.quotemedia.com) . [ Terms of Use\n](http://www.quotemedia.com/legal/tos/) .\n\n",
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                    "source": "https://company.nokiantyres.com/investors/share-and-shareholders/major-shareholders/"
                },
                "page_content": "    * [ Nokian Tyres as an investment ](/investors/nokian-tyres-as-an-investment/)\n    * [ Reports and presentations ](/investors/reports-and-presentations/)\n    * [ Corporate governance ](/investors/corporate-governance/)\n    * [ Share and shareholders ](/investors/share-and-shareholders/)\n      * [ Share tools ](/investors/share-and-shareholders/share-tools/)\n      * [ Dividend policy and dividend ](/investors/share-and-shareholders/dividend-policy-and-dividend/)\n      * [ Nokian Tyres in indexes ](/investors/share-and-shareholders/nokian-tyres-in-indexes/)\n      * [ Major shareholders ](/investors/share-and-shareholders/major-shareholders/)\n      * [ Flaggings ](/investors/share-and-shareholders/flaggings/)\n      * [ Management shareholding ](/investors/share-and-shareholders/management-shareholding/)\n      * [ Managers' transactions ](/investors/share-and-shareholders/managers-transactions/)\n      * [ Share capital ](/investors/share-and-shareholders/share-capital/)\n      * [ Authorizations ](/investors/share-and-shareholders/authorizations/)\n    * [ Financial information ](/investors/financial-information/performance-monitor/)\n    * [ Investor calendar ](/investors/investor-calendar/)\n    * [ Investor relations ](/investors/investor-relations/)\n\n[ Home ](/) / [ Investors ](/investors/) / [ Share and shareholders\n](/investors/share-and-shareholders/) /  Major shareholders\n\n#  Major shareholders\n\nOn this page, you can find information on Nokian Tyres' largest shareholders.\nThe below list is based on the information given by Euroclear Finland Ltd and\nit includes only direct registered holdings. The data is updated monthly.\n\n####  Explore more\n\n[ Flaggings ](/investors/share-and-shareholders/flaggings/)\n\n[ Management shareholding ](/investors/share-and-shareholders/management-\nshareholding/)\n\nIt's a safe journey\n\nStay up-to-date on Nokian Tyres\n\n[ Subscribe to our releases ](/news-and-media/order-releases/)\n\nFollow us on\n\n[ ](https://www.facebook.com/nokiantyres \"Facebook\") [\n](https://www.linkedin.com/company/nokian-tyres-plc \"Linkedin\") [\n](http://www.youtube.com/user/NokianTyresCom?modestbranding=1&rel=0 \"YouTube\")\n\n[ ](/investors/share-and-shareholders/major-shareholders/) [\n](https://yritys.nokianrenkaat.fi/sijoittajat/osake-ja-\nosakkeenomistajat/suurimmat-omistajat/)\n\nCopyright \u00a9 Nokian Tyres plc. All rights reserved\n\n[ Privacy policy ](https://www.nokiantyres.com/privacy-statement/) [\nWhistleblow ](https://report.whistleb.com/en/nokiantyres)\n\n[ ](/investors/share-and-shareholders/major-shareholders/) [\n](https://yritys.nokianrenkaat.fi/sijoittajat/osake-ja-\nosakkeenomistajat/suurimmat-omistajat/)\n\n",
                "url": "https://company.nokiantyres.com/investors/share-and-shareholders/major-shareholders/"
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                "page_content": "Skip to main content\n\n[ ](/) [ Corporate Responsibility Reporting ](/reports) [ Standards &\nFrameworks ](/reports/reporting-frameworks) [ Global Reporting Initiative\n(GRI) Index ](/reports/reporting-frameworks/gri)\n\n#  Global Reporting Initiative (GRI) Index\n\nThe Global Reporting Initiative (GRI) provides a set of standards for\nmeasuring and communicating performance on environmental, social and corporate\ngovernance topics. AT&T has aligned its reporting to the GRI-recommended\ndisclosures since 2008.\n\nOur fiscal year 2024 reporting is prepared in accordance with the GRI\nStandards. The index below provides AT&T\u2019s information for universal GRI\nStandards and relevant topic-specific GRI Standards, in alignment with topics\nidentified in AT&T\u2019s most recent [ assessment ](/reporting-approach/oversight)\n.\n\n##  General Disclosures\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 2-1  |  Organizational details  |  See our [ Form 10-K ](https://otp.tools.investis.com/clients/us/atnt2/sec/sec-show.aspx?Type=html&FilingId=18180871&Cik=0000732717) .   \nGRI 2-2  |  Entities included in the organization\u2019s sustainability reporting  |  Our sustainability reporting covers AT&T Inc., unless otherwise noted in the footnotes of our [ issue briefs ](/priority-topics) . AT&T Inc. is referred to as \u201cwe,\u201d \u201cour\u201d or \u201cAT&T\u201d throughout the report and this index.  The entities included in our sustainability reporting align with those included in our annual [ Form 10-K ](https://otp.tools.investis.com/clients/us/atnt2/sec/sec-show.aspx?Type=html&FilingId=18180871&Cik=0000732717) and quarterly financial reports, which cover all company-owned or -controlled operations. For specific data scopes, please see the footnotes in the individual [ issue briefs ](/priority-topics) .   \nGRI 2-3  |  Reporting period, frequency and contact point  |  **Period:** Jan. 1\u2013Dec. 31, 2024, aligned to our financial reporting   \n**Publication date:** April 18, 2025  \n**Frequency:** Annual  \n**Contact:** [ AT&T Sustainability Reporting ](mailto:g18344@att.com)  \nGRI 2-4  |  Restatement of information  |  Relevant restatements are included in the footnotes of respective [ issue briefs ](/priority-topics) and our [ corporate responsibility KPI webpage ](/progress/corporate-responsibility-kpis) .   \nGRI 2-5  |  External assurance  |  External assurance was not sought for this GRI report as a whole. AT&T uses an external third-party organization to assure select environmental data. For our 2024 reporting, Environmental Resources Management (ERM) is assuring Scope 1, 2 and 3 (select categories) greenhouse gas emissions calculations. We expect to complete this assurance process in Q2 2025.   \nGRI 2-6  |  Activities, value chain and other business relationships  |  We are a leading provider of telecommunications and technology services globally.   \nWe announced plans to lead the U.S. in commercial-scale open radio access\nnetwork (Open RAN) deployment, in collaboration with Ericsson. Over five\nyears, we will spend approximately $14 billion to help build a robust\necosystem of network infrastructure providers and suppliers, with an aim that\n70% of our wireless network traffic will flow across open-capable platforms by\nlate 2026.  To further support our work in this area, in February 2024, we\nwere pleased to step up as a leader in a new industry consortium\u2014the\nAcceleration of Compatibility and Commercialization for Open RAN Deployments\nConsortium (ACCoRD). ACCoRD has been awarded $42 million by the National\nTelecommunications and Information Administration to advance adoption of\ninteroperable infrastructure in wireless networks. The funding will go toward\nhelping ACCoRD identify new methods of assessing innovations and technologies\nnot covered by current best practices.  For more information, see our [ Form\n10-K ](https://otp.tools.investis.com/clients/us/atnt2/sec/sec-\nshow.aspx?Type=html&FilingId=18180871&Cik=0000732717) , [ Responsible Supply\nChain ](/priority-topics/responsible-supply-chain) and [ Innovation &\nResponsible Technology ](/priority-topics/innovation-technology) issue brief.  \nGRI 2-7  |  Employees  |  **Employee Data (head count as of December 31, 2024) 1  **   \nTotal employees in global workforce: 140,990  2  \nTotal part-time employees in global workforce: 1,301  \nTotal employees in U.S. workforce: 123,967  For more information, see our [\nHuman Capital Management ](/priority-topics/human-capital-management) issue\nbrief.  \nGRI 2-8  |  Workers who are not employees  |  AT&T is not able to provide this data, as it is confidential.   \nGRI 2-9  |  Governance structure and composition  |  See our [ Board of Directors website ](https://investors.att.com/corporate-governance/board-of-directors) and our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-10  |  Nomination and selection of the highest governance body  |  See our [ Corporate Governance website ](https://investors.att.com/corporate-governance/leadership) and our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-11  |  Chair of the highest governance body  |  See our [ Corporate Governance website ](https://investors.att.com/corporate-governance/leadership) and our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-12  |  Role of the highest governance body in overseeing the management of impacts  |  See the Corporate Responsibility Oversight and Reporting section of our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) and [ Corporate Governance website ](https://investors.att.com/corporate-governance/leadership) as well as our [ issue briefs ](/priority-topics) for information on how the Board of Directors oversees company efforts relative to our most important Corporate Responsibility topics.   \nGRI 2-13  |  Delegation of responsibility for managing impacts  |  See our [ Corporate Responsibility Oversight ](/reporting-approach/oversight) page and the Corporate Responsibility Oversight and Reporting section of our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-14  |  Role of the highest governance body in sustainability reporting  |  See the Corporate Responsibility Oversight and Reporting section of our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-15  |  Conflicts of interest  |  See our [ Corporate Governance Guidelines ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/governance-documents/atandt-inc-corporate-governance-guidelines-effective-04-08-2022.pdf) , [ Code of Ethics ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/governance-documents/att-code-of-ethics-2012.pdf) and most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-16  |  Communication of critical concerns  |  See stockholder engagement information in our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) . AT&T is not able to provide further data as requested, as it is confidential.   \nGRI 2-17  |  Collective knowledge of the highest governance body  |  See our [ Corporate Governance Guidelines ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/governance-documents/atandt-inc-corporate-governance-guidelines-effective-04-08-2022.pdf) .   \nGRI 2-18  |  Evaluation of the performance of the highest governance body  |  See our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) and [ Corporate Governance Guidelines ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/governance-documents/atandt-inc-corporate-governance-guidelines-effective-04-08-2022.pdf) .   \nGRI 2-19  |  Remuneration policies  |  See our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-20  |  Process to determine remuneration  |  See our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 2-21  |  Annual total compensation ratio  |  See our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) and [ Form 10-K ](https://otp.tools.investis.com/clients/us/atnt2/sec/sec-show.aspx?Type=html&FilingId=18180871&Cik=0000732717) .   \nGRI 2-22  |  Statement on sustainable development strategy  |  See the CEO letter in our [ 2024 Sustainability Update ](/ViewFile?fileGuid=b4632aa0-6d0d-4740-85e5-9010a361bb9e) .   \nGRI 2-23  |  Policy commitments  |  See our [ Policies & Commitments ](/reporting-approach/policies) page.   \nGRI 2-24  |  Embedding policy commitments  |  See our [ Policies & Commitments ](/reporting-approach/policies) page and our [ issue briefs ](/priority-topics) for more information on how we embed policy commitments for responsible business conduct in our business activities addressing our most important Corporate Responsibility issues.   \nGRI 2-25  |  Processes to remediate negative impacts  |  See our [ issue briefs ](/priority-topics) for information on our managerial and programmatic approach to addressing our most important Corporate Responsibility issues.   \nGRI 2-26  |  Mechanisms for seeking advice and raising concerns  |  See the [ Ethics & Integrity ](/priority-topics/ethics-integrity) and [ Environment, Health & Safety Compliance ](/priority-topics/environment-health-safety-compliance) issue briefs as well as the [ AT&T Code of Business Conduct ](https://cobc.att.com/mission) .   \nGRI 2-27  |  Compliance with laws and regulations  |  See the [ AT&T Code of Business Conduct ](https://cobc.att.com/mission) as well as our [ Ethics & Integrity ](/priority-topics/ethics-integrity) and [ Environment, Health & Safety Compliance ](/priority-topics/environment-health-safety-compliance) issue briefs. You may also reference additional [ issue briefs ](/priority-topics) for information on responsible business conduct in our business activities addressing our most important Corporate Responsibility issues.  The total number and the monetary value of fines for instances of non-compliance with laws and regulations is confidential.   \nGRI 2-28  |  Membership associations  |  AT&T contributes to industry associations and coalitions, such as the United States Telecom Association, and other associations that advocate on matters of importance to the industry on behalf of their members. For more information on the memberships and coalitions we support, see our [ Political Engagement Report ](/reports/political-engagement-report) and [ Stakeholder Engagement webpage ](/reporting-approach/stakeholder-engagement) as well as our [ issue briefs ](/priority-topics) .   \nGRI 2-29  |  Approach to stakeholder engagement  |  See our [ Stakeholder Engagement ](/reporting-approach/stakeholder-engagement) page.   \nGRI 2-30  |  Collective bargaining agreements  |  See our [ Human Capital Management ](/priority-topics/human-capital-management) issue brief for information on employees covered by collective bargaining agreements. For additional details of our collective bargaining activities and union interactions, see the [ AT&T Bargaining webpage ](https://about.att.com/pages/bargaining) .   \n  \n###  GRI Priority Topics\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-1  |  Process to determine topics  |  See our [ Corporate Responsibility Oversight ](/reporting-approach/oversight) page.   \nGRI 3-2  |  List of topics  |  See our [ Corporate Responsibility Key Topics ](/priority-topics) .   \n  \n###  GRI 203: Indirect Economic Impacts\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Digital Divide ](/priority-topics/digital-divide) issue brief for information on our commitment and work to support broadband affordability, access and adoption, which has wide-ranging economic and social benefits for communities.   \nGRI 203-1  |  Infrastructure investments and services supported  |  See our [ Network Resilience ](/priority-topics/network-resilience) , [ Innovation & Responsible Technology ](/priority-topics/innovation-technology) , [ Community Engagement & Philanthropy ](/priority-topics/community-engagement) and [ Digital Divide ](/priority-topics/digital-divide) issue briefs.   \nGRI 203-2  |  Significant indirect economic impacts  |  See our [ Digital Divide ](/priority-topics/digital-divide) , [ Efficiency & Emissions ](/priority-topics/efficiency-emissions) , [ Network Resilience ](/priority-topics/network-resilience) and [ Innovation & Responsible Technology ](/priority-topics/innovation-technology) issue briefs.   \n  \n###  GRI 205: Anti-Corruption; GRI 206: Anti-Competitive Behavior\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Ethics & Integrity ](/priority-topics/ethics-integrity) issue brief and our [ Code of Business Conduct ](https://cobc.att.com/mission) .   \nGRI 205-1  |  Operations assessed for risks related to corruption  |  For non-confidential information on our compliance process and Anti-Bribery/Anti-Corruption policy, see our [ Ethics & Integrity ](/priority-topics/ethics-integrity) issue brief.   \nGRI 205-2  |  Communication and training about anti-corruption policies and procedures  |  For non-confidential information on our compliance process and Anti-Bribery/Anti-Corruption policy, see our [ Ethics & Integrity ](/priority-topics/ethics-integrity) issue brief.   \nGRI 205-3  |  Confirmed incidents of corruption and actions taken  |  AT&T is unable to provide this information, as it is confidential. For non-confidential information on our compliance process and Anti Bribery/Anti-Corruption policy, see our [ Ethics & Integrity ](/priority-topics/ethics-integrity) issue brief.   \nGRI 206-1  |  Legal actions for anti-competitive behavior, anti-trust and monopoly practices  |  For fiscal year 2024, AT&T had no material losses related to litigation or to non-appealable regulatory decisions involving anti-competitive behavior. AT&T is not able to provide further data, as it is confidential. For information on anti-competitive behavior, see our [ Ethics & Integrity ](/priority-topics/ethics-integrity) issue brief and our [ Code of Business Conduct ](https://cobc.att.com/mission) .   \n  \n###  GRI 302: Energy\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Energy Management ](/priority-topics/energy-management) issue brief.   \nGRI 302-1  |  Energy consumption within the organization  |  FY2024 data will be available in Q2 2025.   \nGRI 302-2  |  Energy consumption outside of the organization  |  AT&T does not currently track this information and is working to build the infrastructure and quality controls needed to monitor this data going forward.   \nGRI 302-3  |  Energy intensity  |  FY2024 data will be available in Q2 2025.   \nGRI 302-4  |  Reduction of energy consumption  |  FY2024 data will be available in Q2 2025.   \nGRI 302-5  |  Reductions in energy requirements of products and services  |  AT&T does not track this data, but we expect our device manufacturers to align with best-in-class energy e\ufb03ciency practices. This alignment includes analyzing the life cycle performance of their devices to estimate energy impacts, incorporating or further developing energy management features on their devices, and establishing energy e\ufb03ciency goals. Since 2015, AT&T has worked with other companies and industry associations to improve the energy efficiency of internet modems, routers and other in-home equipment through the [ Small Network Equipment Voluntary Agreement ](https://energy-efficiency.us/wp-content/uploads/2025/02/SNE-VA-Amendment-2025.pdf) . Under the voluntary agreement, the average weighted power of each category of new small network equipment relative to broadband speed delivered has decreased annually since 2015, achieving an [ 89% overall reduction in 2023 ](https://energy-efficiency.us/wp-content/uploads/2024/09/US-SNE_2023_Report.pdf) .   \n  \n###  GRI 305: Emissions\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Efficiency & Emissions ](/priority-topics/efficiency-emissions) issue brief.   \nGRI 305-1  |  Direct (Scope 1) GHG emissions  |  FY2024 data will be available in Q2 2025.   \nGRI 305-2  |  Energy indirect (Scope 2) GHG emissions  |  FY2024 data will be available in Q2 2025.   \nGRI 305-3  |  Other indirect (Scope 3) GHG emissions  |  FY2024 data will be available in Q2 2025.   \nGRI 305-4  |  GHG emissions intensity  |  FY2024 data will be available in Q2 2025.   \nGRI 305-5  |  Reduction of GHG emissions  |  FY2024 data will be available in Q2 2025.   \nGRI 305-6  |  Emissions of ozone-depleting substances (ODS)  |  FY2024 data will be available in Q2 2025.   \nGRI 305-7  |  Nitrogen oxides (NO  x  ), sulfur oxides (SO  x  ), and other significant air emissions  |  AT&T does not disclose this information.   \n  \n###  GRI 405: Diversity and Equal Opportunity\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Human Capital Management ](/priority-topics/human-capital-management) issue brief and [ Culture and Inclusion ](https://about.att.com/pages/inclusion) website.   \nGRI 405-1  |  Diversity of governance bodies and employees  |  For employee information, see our [ Human Capital Management ](/priority-topics/human-capital-management) issue brief.  For Board of Directors information, see our most recent [ Proxy Statement ](https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2025/2025-notice-of-annual-meeting-of-stockholders-and-proxy-statement.pdf) .   \nGRI 405-2  |  Ratio of basic salary and remuneration of women to men  |  AT&T considers this information confidential and does not report this ratio. For information on our commitment to pay equity, see our [ Human Capital Management ](/priority-topics/human-capital-management) issue brief.   \n  \n###  GRI 418: Customer Privacy\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Privacy ](/priority-topics/privacy) issue brief and the [ AT&T Privacy Center ](https://about.att.com/privacy.html) .   \nGRI 418-1  |  Substantiated complaints concerning breaches of customer privacy and losses of customer data  |  We work hard to protect and safeguard the privacy of consumer and employee information. But like all companies, we are faced with attempts to gain unauthorized access to our customers\u2019 or employees\u2019 data. The details associated with any such events are confidential. For more information on data protection and security, see the [ AT&T Privacy Center ](https://about.att.com/privacy.html) and our [ Privacy ](/priority-topics/privacy) issue brief.   \n  \n###  Cybersecurity\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Cybersecurity ](/priority-topics/cybersecurity) issue brief.   \nN/A  |  Cybersecurity  |  See our [ Cybersecurity ](/priority-topics/cybersecurity) issue brief.   \n  \n###  Technological Innovation\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Innovation & Responsible Technology ](/priority-topics/innovation-technology) issue brief.   \nN/A  |  Technology innovation  |  See our [ Innovation & Responsible Technology ](/priority-topics/innovation-technology) issue brief.   \n  \n###  Disaster Response & Relief\n\nStandard Disclosure  |  Disclosure Title  |  Location   \n---|---|---  \nGRI 3-3  |  Management of topics  |  See our [ Network Resilience ](/priority-topics/network-resilience) and [ Community Engagement & Philanthropy ](/priority-topics/community-engagement) issue briefs.   \nN/A  |  Disaster response & relief  |  See our [ Network Resilience ](/priority-topics/network-resilience) and [ Community Engagement & Philanthropy ](/priority-topics/community-engagement) issue briefs.   \n  \nLast Updated 4/9/2025\n\n  1. All results are global unless they are marked as U.S. Data does not include WarnerMedia, DIRECTV or Vrio. \n  2. As reported in our [ Form 10-K ](https://otp.tools.investis.com/clients/us/atnt2/sec/sec-show.aspx?FilingId=18180871&Cik=0000732717&Type=PDF&hasPdf=1) . \n\n[ Corporate Responsibility  ](/)\n\nJoin the conversation using  **#ATTimpact**\n\n[ ](https://twitter.com/attimpact) [ ](https://www.instagram.com/attimpact/)\n\n[ Privacy Notice ](http://about.att.com/sites/web_policy) [ Terms of Use\n](https://www.att.com/legal/terms.attWebsiteTermsOfUse.html) [ Accessibility\n](https://www.att.com/accessibility) [ Contact Us\n](https://www.att.com/support/contact-\nus/?source=EPcc000000000000U&wtExtndSource=Footer_Newsroom_DGen) [ Subscribe\nto AT&T News ](https://about.att.com/pages/subscribe-att-news) [\n](https://about.att.com/csr/home/privacy/rights_choices.html)\n\n\u00a9 2025 AT&T Intellectual Property. All rights reserved.\n\n",
                "url": "https://sustainability.att.com/reports/reporting-frameworks/gri"
            },
            "reason": "This page discusses sustainability reporting frameworks, including GRI, which indirectly relates to the value chain by addressing environmental and social impacts. It's a reputable source but doesn't directly analyze the company's value chain activities.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' activities value chain",
            "summary": "This page discusses sustainability reporting frameworks, including GRI, which indirectly relates to the value chain by addressing environmental and social impacts. It's a reputable source but doesn't directly analyze the company's value chain activities.",
            "url": "https://sustainability.att.com/reports/reporting-frameworks/gri"
        },
        {
            "content": {
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                    "resource_type": "webpage",
                    "source": "https://worldwide.kia.com/int/company/ir/info/shareholders"
                },
                "page_content": "skip to the main content\n\n##  Total Number of Issued Shares (last 5 years)\n\nYear\n\nTotal Number of Issued Shares by Year  Year  |  Issued shares (common)  |  Treasury stock (common)  |  %   \n---|---|---|---  \n2023  |  402,044,203  |  5,837,383  |  1.45   \n2022  |  405,363,347  |  4,432,968  |  1.09   \n2020  |  405,363,347  |  4,432,331  |  1.09   \n2020  |  405,363,347  |  4,432,084  |  1.09   \n2019  |  405,363,347  |  4,432,084  |  1.09   \n  \n\u203b As of the end of 2023\n\n##  Shareholders\n\nShareholder\n\nShareholders table  Shareholder  |  Number of shares  |  Ownership   \n---|---|---  \nHyundai Motor Company  |  137,318,251  |  34.16%   \nEmployee stock ownership  |  9,889,054  |  2.46%   \nTreasury stock  |  5,837,383  |  1.45%   \nNPS  |  28,554,484  |  7.10%   \nForeigner  |  151,723,249  |  37.74%   \nOthers (financial institutions, etc)  |  68,721,782  |  17.09%   \nTotal  |  402,044,203  |  100%   \n  \n\u203b As of the end of 2023\n\n##  Related Parties\n\nName\n\nRelated Parties table  Name  |  Relationship  |  Type of share  |  Number of shares  |  Ownership  |  Remarks   \n---|---|---|---|---|---  \nHyundai Motor Company  |  Affiliate(largest shareholder)  |  Common  |  137,318,251  |  34.16%  |  \\-   \nEuisun Chung  |  Executive  |  Common  |  7,061,331  |  1.76%  |  \\-   \nHo Sung Song  |  Executive  |  Common  |  3,500  |  0.00%  |  \\-   \nJun Young Choi  |  Executive  |  Common  |  1,718  |  0.00%  |  \\-   \nWoo Jeong Joo  |  Executive  |  Common  |  23,740  |  0.01%  |  \\-   \nTotal  |  \\-  |  \\-  |  144,408,540  |  35.92%  |  \\-   \n  \n\u203b As of the end of 2023\n\n##  Shareholder Protection\n\nYear\n\nShareholder Protection table  Category  |  Content  |  2021  |  2022  |  2023   \n---|---|---|---|---  \nShareholders\u2019 equity  |  Shares owned by the largest shareholder and its related parties (%)  |  35.62%  |  35.62%  |  35.92%   \nShares owned by registered officers excluding the largest shareholder and its related parties (%)  |  N/A  |  N/A  |  N/A   \nDisclosure of shareholders who acquire more than 5% of the shares excluding the largest shareholder and its related parties (including officers and affiliates)  |  National Pension Service 8.24%  |  National Pension Service 6.91%  |  National Pension Service 7.1%   \nDividends  |  Interim or quarterly dividends (business results exist)  |  N/A  |  N/A  |  N/A   \nOwnership structure  |  Transactions between affiliates  |  Transactions accounting for more than 5% of the last business year\u2019s revenue   \n\u00b7 Hyundai Mobis : KRW 7,342,633mil  \n\u00b7 Hyundai WIA : KRW 2,621,472mil  \n\u00b7 Hyundai Motor Company : KRW 2,010,502mil  |  Transactions accounting for more than 5% of the last business year\u2019s revenue   \n\u00b7 Hyundai Mobis : KRW 9,167,718mil  \n\u00b7 Hyundai WIA : KRW 3,698,721mil  |  Transactions accounting for more than 5% of the last business year\u2019s revenue   \n\u00b7 Hyundai Mobis : KRW 10,944,427mil  \n\u00b7 Hyundai WIA : KRW 3,591,942mil  \nTotal credit granted* to affiliates against equity capital  |  N/A  |  N/A  |  N/A   \n  \n\u203b As of the end of 2023\n\n##  Cumulative voting and voting in writing\n\nCumulative voting and voting in writing table  Classification  |  Date of Introduction  |  Remarks   \n---|---|---  \nCumulative voting  |  N/A  |  \\-   \nVoting in writing  |  N/A  |  \\-   \nElectronic voting  |  March 24, 2020  |  At the 76th Ordinary General Meeting of Shareholders   \n  \n\u203b As of the end of 2023\n\n##  Annual General Shareholders\u2019 Meeting\n\nYear\n\nAnnual General Shareholders\u2019 Meeting by Year  Item  |  2021  |  2022  |  2023   \n---|---|---|---  \nNumber of voting rights present at the last General Meeting of Shareholders  |  316,634,966  |  309,190,948  |  317,697,423   \nAttendance of those excluding the largest shareholder and its related parties  |  43.00%  |  40.65%  |  43.80%   \n  \n\u203b As of the end of 2023\n\n##  Outcome of 80th Annual Shareholders\u2019 Meeting (2023)\n\nOutcome of 80th Annual Shareholders\u2019 Meeting table  Item  |  Approval Rate  |  Opposition &   \nAbstention Rate  |  Approval/   \nOpposition  \n---|---|---|---  \nAgenda 1. Approval of the Financial Statements for the 80th Fiscal Year  |  95.4%  |  4.6%  |  Approval   \nAgenda 2-1. Appointment of Inside Director (Jun Young Choi)  |  90.5%  |  9.5%  |  Approval   \nAgenda 2-2. Appointment of Outside Director (In Kyung Lee)  |  99.8%  |  0.2%  |  Approval   \nAgenda 3. Appointment of audit committee members (In Kyung Lee)  |  99.7%  |  0.3%  |  Approval   \nAgenda 4. Appointment of Outside Director who becomes a member of audit Committee(Wha Sun Jho)  |  95.4%  |  4.6%  |  Approval   \nAgenda 5. Approval of the director compensation\u2019s limit  |  99.5%  |  0.5%  |  Approval   \n  \n##  Dividend History (last 5 years)\n\nYear\n\nDividend History (last 5 years) table  Year  |  Gross amount of cash dividend (100 mil KRW)  |  Cash dividend per share (KRW)  |  Payout ratio  |  Dividend yield ratio  |  Dividend/Face value   \n---|---|---|---|---|---  \n2023  |  22,188  |  5,600  |  25.30%  |  6.40%  |  112.00%   \n2022  |  14,033  |  3,500  |  25.90%  |  5.50%  |  70.00%   \n2021  |  12,028  |  3,000  |  25.30%  |  3.60%  |  60.00%   \n2020  |  4,009  |  1,000  |  27.0%  |  1.6%  |  20.0%   \n2019  |  4,611  |  1,150  |  25.2%  |  2.6%  |  23.0%   \n  \n##  Shareholder proposal & Protection of minority shareholders\n\nWe are committed to protecting the rights of the Company\u2019s minority\nshareholders, whose rights are set forth below.\n\n  * #####  Right to call general meetings of shareholders \n\nIn accordance with the Commercial Code, shareholders who own more than 1.5% of\noutstanding shares with voting rights of the Company for more than six months\nmay request to convene extraordinary general meetings.\n\n  * #####  Right to present shareholder proposals concerning annual general meeting \n\nIn accordance with the Commercial Code and the Articles of Incorporation,\nshareholders who own more than 0.5% of outstanding shares with voting rights\nfor more than six months may present shareholder proposals at an AGM. The\nBoard shall accept the proposal as an agenda item of a general meeting of\nshareholders, state the item in the notice of convocation of the meeting,\nexcept where such proposal is in violation of laws or the Articles of\nIncorporation, or where it is subject to the rejection of a shareholder\nproposal as stipulated in Article 12 of the Enforcement Degree of the\nCommercial Code. When requested by the shareholder who made the proposal, the\ndetails of the agenda item shall be stated in the notice of the meeting, and\nthe shareholder will be given the opportunity to present the proposal at the\nmeeting. Compliance Management Team is responsible for tasks related to agenda\nproposals by shareholders. Once a proposal is submitted, the shareholder will\nbe identified, a legal review will be conducted, and then a letter or\nelectronic notice will be sent to the shareholder to verify submission.  \n(Address: 12, Heolleung-ro, Seocho-gu, Seoul 06797 Republic of Korea,\nCompliance Management Team / [ kiacm@kia.com ](mailto:kiacm@kia.com) )\n\n  * [ Privacy Policy ](/int/privacy-statement)\n  * [ Cookies Policy ](/int/cookies-policy)\n\n  * [ Go to instagram  ](https://www.instagram.com/kia.worldwide)\n  * [ Go to youtube  ](https://www.youtube.com/kiaworldwideofficial)\n  * [ Go to facebook  ](https://www.facebook.com/kiaworldwideofficial/)\n  * [ Go to linkedin  ](https://www.linkedin.com/company/kiaworldwide)\n  * [ Go to X  ](https://x.com/kia_worldwide)\n\n\u00a9 Kia Corporation\n\n  * English \n  * [ \ud55c\uad6d\uc5b4 ](/kr)\n\n",
                "url": "https://worldwide.kia.com/int/company/ir/info/shareholders"
            },
            "reason": "This is the official investor relations page of Kia, providing direct information about their shareholders. It is a primary source and considered highly reliable for this specific information.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' customers stakeholders",
            "summary": "Official investor relations page of Kia.",
            "url": "https://worldwide.kia.com/int/company/ir/info/shareholders"
        },
        {
            "content": {
                "metadata": {
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                    "source": "https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence"
                },
                "page_content": "Skip to main content\n\n  *   *   * [ Subscribe  ](https://news.whitecase.com/5/38/forms/subscribe.asp \"Subscribe\")\n\nTime%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20  \nhttps://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-\nadopts-corporate-sustainability-due-diligence  \n  \nhttps://news.whitecase.com/5/38/forms/subscribe.asp\n\nmailto:?subject=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&body=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence\n\nhttps://www.linkedin.com/shareArticle?mini=true&url=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence&title=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&source=www.whitecase.com\n\nhttps://twitter.com/intent/tweet?text=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&url=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence&via=WhiteCase\n\nhttps://www.facebook.com/share.php?u=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence&t=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20\n\nhttps://news.whitecase.com/5/38/forms/subscribe.asp\n\n#  Time to get to know your supply chain: EU adopts Corporate Sustainability\nDue Diligence Directive\n\nAlert\n\n05 July 2024\n\n|\n\n* * *\n\n12 min read\n\n[ Clare Connellan ](/people/clare-connellan \"Clare Connellan\") | \n\n[ Genevra Forwood ](/people/genevra-forwood \"Genevra Forwood\") | \n\n[ Sara Nordin ](/people/sara-nordin \"Sara Nordin\") | \n\n[ William De Catelle ](/people/william-de-catelle \"William De Catelle\") | \n\n[ Janina Moutia-Bloom ](/people/janina-moutia-bloom \"Janina Moutia-Bloom\")\n\n* * *\n\n**After a two-and-half-year legislative journey, the EU's Corporate\nSustainability Due Diligence Directive (\"CSDDD\"), has been formally adopted,\nand was published in the EU Official Journal on 5 July 2024. 1  It will come\ninto operation in a staggered way in the coming years, and will introduce\nmandatory human rights and environmental due diligence requirements for large\nEU and non-EU companies operating in the EU. **\n\n##  What is the objective of the CSDDD?\n\nThe aim of the CSDDD is to ensure that EU and non-EU companies active in the\nEU:\n\n\"contribute to sustainable development and the sustainability transition of\neconomies and societies through the **identification, and where necessary,\nprioritisation, prevention and mitigation, bringing to an end, minimisation\nand remediation** of actual or **potential adverse human rights and\nenvironmental impacts** connected with companies' own operations, operations\nof their subsidiaries and of their business partners in the chains of\nactivities of the companies, and ensuring that **those affected** by a failure\nto respect this duty **have access to justice and legal remedies** \".  2\n\n##  How does the CSDDD interact with other laws?\n\nObligations under the CSDDD will apply in addition to other more specific, or\npotentially stricter due diligence obligations under other EU laws such as the\nConflict Minerals Regulation, the Batteries Regulation,  3  the Deforestation\nRegulation,  4  and the forthcoming Forced Labour Regulation.  5\n\nThe CSDDD introduces minimum harmonization, meaning Member States cannot lower\nthe level of protection when transposing the CSDDD into national law. Equally,\nthe CSDDD may not serve as grounds for Member States to reduce the level of\nprotection already afforded under national laws to human, employment and\nsocial rights, or protection of the environment or climate.  6  It is expected\nthat existing laws such as Germany's Supply Chain Act (LkSG) and France's loi\nde vigilance will be affected by the national implementation of the CSDDD.\n\nExcept for the due diligence provisions relating to the identification,\nprevention and termination of adverse impacts, Member States are free to go\nbeyond the CSDDD and introduce stricter obligations or a wider scope.  7\n\n##  Which companies are within scope?\n\nThe thresholds for in-scope 'companies'  8  have been substantially revised\nsince the initial proposal. After a phased implementation, the CSDDD will\napply to:  9\n\n  * EU companies (i.e., companies established under the laws of a Member State) that had above 1,000 employees and above EUR 450 million 'net worldwide turnover' in the last financial year; and \n  * Non-EU companies (i.e., companies established outside of the EU) that generated a 'net turnover in the Union' of more than EUR 450 million in the financial year preceding the last financial year.  10 \n\nThe CSDDD will only apply to those EU and non-EU companies which satisfy the\nrelevant criteria above for two consecutive financial years.  11\n\nThe CSDDD also extends to EU and non-EU \"ultimate parent companies\" of groups\nof EU and/or non-EU companies \u2013 which, taken together as a group, meet the\nabove thresholds. However, an ultimate parent company may be exempt12 if \"[it]\nhas as its main activity the holding of shares in operational subsidiaries and\ndoes not engage in taking management, operational or financial decisions\naffecting the group or one or more of its subsidiaries\" and on condition that\none of its EU subsidiaries is designated to fulfil the parent's obligations\nunder the CSDDD, and the parent has obtained an exemption from the competent\nsupervisory authority.  13\n\n##  When will companies have to comply?\n\nThe CSDDD must be transposed by Member States into national law by 26 July\n2026. These new rules will become applicable to companies according to a\nstaggered timeline set out below, to enable them to prepare. This means that\nit will be several years before the new rules take full effect.\n\nThese new rules will become applicable to companies according to a staggered\ntimeline set out below, to enable them to prepare. This means that it will be\nseveral years before the new rules take full effect.\n\n**Category** |  **Net turnover threshold** |  **Number of employees** |  **Date of application for companies 14  **  \n---|---|---|---  \nEU companies  |  **EUR 1,500 m (global)** |  **5,000** |  **26 July 2027**  \n**EUR 900 m (global)** |  **3,000** |  **26 July 2028**  \n**EUR 450 m (global)** |  **1,000** |  **26 July 2029**  \nNon-EU companies  |  **EUR 1,500 m (in EU)** |  **N/A** |  **26 July 2027**  \n**EUR 900 m (in EU)** |  **N/A** |  **26 July 2028**  \n**EUR 450 m (in EU)** |  **N/A** |  **26 July 2029**  \nEU Franchisors/ Licensors  |  **Turnover: EUR 80 m (global)** |  **N/A** |  **26 July 2029**  \n**Royalties: EUR 22.5 m (global)**  \nNon-EU Franchisors/ Licensors  |  **Turnover: EUR 80 m (in EU)** |  **N/A** |  **26 July 2029**  \n**Royalties: EUR 22.5 m (in EU)**  \n  \n##  What are the specific obligations for companies?\n\n**In-scope companies must take various steps to manage actual and potential\nadverse impacts of their activities on human rights and environmental matters,\narising from (i) their own operations, (ii) the operations of their\nsubsidiaries, and (iii) the operations of their business partners in its chain\nof activities. 15  **\n\nThe \"chain of activities\" does not cover disposal of products, or activities\nof a company's downstream business partners related to the services of the\ncompany. However, it does cover:\n\n  * The activities of a **company's upstream business** partners related to the production of goods or the provision of services by the company (including the design, extraction, sourcing, manufacture, transport, storage and supply of raw materials, products or part of the products and development of the product or the service). \n  * The activities of a **company's downstream business** partners related to the distribution, transport and storage of the product \u2013 where the business partners carry out those activities for the company or on behalf of the company. \n\n###  Core obligations\n\nThe CSDDD's core obligations require in-scope companies to:\n\n  * Adopt a 'risk-based' approach to human rights and environmental due diligence (Article 5); \n  * Integrate due diligence into all relevant policies and risk management systems (Article 7); \n  * Identify and assess actual or potential adverse impacts, and, where necessary, prioritise potential and actual adverse impacts (Articles 8 and 9); \n  * Prevent and (where not possible or immediately possible) mitigate potential adverse impacts; and bring actual adverse impacts to an end and minimise their extent (Articles 10 and 11); \n  * Provide remediation for actual adverse impacts (Article 12); \n  * Carry out meaningful stakeholder engagement (Article 13); \n  * Establish and maintain a notification mechanism and complaints procedure (Article 14); \n  * Monitor the effectiveness of due diligence policy and measures (Article 15); \n  * Publicly communicate on due diligence (Article 16); \n  * Adopting and putting into effect a climate transition plan (Article 22); and \n  * Designate an authorised representative (Article 23). \n\nThe main due diligence obligations under the CSDDD are \"obligations of means\",\nnot \"obligations of result\". Companies are not expected to guarantee that\nadverse impacts will not occur, nor that they will always be prevented. But\nthey are expected to take \"appropriate measures\": measures that are capable of\nachieving the objectives of due diligence.  16  Such measures include\ndeveloping and implementing a prevention action plan; seeking contractual\nassurances from business partners accompanied by measures to verify\ncompliance; making necessary financial or non-financial investments,\nadjustments or upgrades into operational processes and infrastructures;\nmodifying the company's own business plan, strategies and operations including\npurchasing, design and distribution practices; providing targeted and\nproportionate support from SME business partners; or providing remediation.\n\nWhere impacts cannot be prevented or adequately mitigated, minimised or bought\nto an end, as a last resort, the company must: (i) refrain from entering into\nnew or extending existing relations with the relevant business partner; (ii)\nadopt and implement an enhanced prevention action plan without undue delay by\nusing the company's leverage through the temporary suspension of the relevant\nbusiness relationship(s); or (iii) terminate the business relationship (if\nthere is no reasonable expectation that (ii) will succeed).\n\n###  Transition Plans for Climate Change Mitigation\n\nIn-scope companies must adopt and implement a transition plan for climate\nchange mitigation which aims to ensure \"through best efforts\" that the\nbusiness model and strategy of the company align with the Paris Agreement.\nSpecifically, the transition plan shall contain: (i) time-bound targets\n(including for 2030 and for 2050) and key actions planned for reaching them;\n(ii) a description of decarbonisation levers; (iii) an explanation and\nquantification of investments and funding supporting the implementation of the\ntransition plan; and (iv) a description of the role of company management in\nconnection with the plan.  17\n\nCompanies that comply with the EU Corporate Sustainability Reporting Directive\n(CSRD)  18  will be deemed to have complied with this obligation under the\nCSDDD.\n\n##  What are the consequences for non-compliance?\n\n###  Enforcement and Penalties\n\nThe CSDDD will be enforced by the supervisory authorities of Member States,\nwhich will be empowered to carry out investigations where they consider there\nto be \"substantiated concerns\" and may require companies to provide\ninformation in connection with suspected non-compliance with the obligations\nset out in Articles 7 to 16. National supervisory authorities will also be\nrequired to \"at least supervise\" the adoption and design (and updating) of\ncompanies' transition plans. However, they are not required to supervise their\nimplementation. Furthermore, there is no indication that such supervision will\nencompass the formal approval of such transition plans, however, an\nauthority's assessment and determination of non-compliance could give rise to\none of the consequences set out below.\n\nIf a supervisory authority identifies an act of (or an omission amounting to)\nnon-compliance, it may:\n\n  * Order a company to cease the relevant conduct or perform an action to bring it into compliance; abstain from repeating the prohibited conduct; and where appropriate, take remedial action within an appropriate period of time. \n  * Impose a penalty. Penalties will be set by Member States, but shall be effective, proportionate and dissuasive, and take into account a range of factors,  19  with the maximum penalty to be at least 5% of the relevant company's net worldwide turnover in the previous financial year.  20  A pecuniary penalty on an ultimate parent company of a group, shall be calculated based on the consolidated turnover reported by the ultimate parent company.  21 \n\nAdopt interim measures in case of imminent risk of severe and irreparable\nharm.  22\n\nThe CSDDD also notes that Member States have the power to \"withdraw and to\nprohibit the placing, making available on the market and export of products\nunder other Union legislative acts\".  23\n\n###  Civil liability and other consequences\n\nThe CSDDD requires Member States to ensure that companies can be held liable\nfor damages caused to natural or legal persons where the company\n\"intentionally or negligently\" fails to comply with Article 10 and 11\nobligations (to prevent and mitigate impact, or to end or minimise such\nimpacts), although this is limited to situations where the relevant rights,\nprohibitions or obligations are aimed at protecting the specific claimant, and\nthe failure caused damage.  24\n\nWhile the \"causality\" would be a question for domestic courts to determine in\naccordance with national law, the CSDDD specifically excludes liability if the\ndamage is caused only by the business partners in the company's chain of\nactivities.  25  However, where damage is found to have been caused jointly by\nthe company and its subsidiary, or by the company and a business partner, the\ncompany will be jointly and severally liable.  26\n\nFull compensation under the CSDDD shall not lead to overcompensation, whether\nby means of punitive, multiple or other types of damages.  27\n\nMember States may determine the conditions under which trade unions, civil\nsociety organisations and national human rights institutions can bring\ncollective redress mechanisms on behalf of victims.  28\n\nCompliance with the CSDDD could also be qualified as a criterion for the award\nof public contracts and concessions. As a result, any non-compliance could\nconstitute a breach of any such contract or terms of concession.  29\n\n##  What next?\n\nThe CSDDD's entry into force on 25 July 2024 triggers the transposition period\nfor Member States to adopt national laws transposing the CSDDD obligations.\nCompanies will need to comply according to the staggered timeline set out\nabove.\n\nA \"review\" provision at Article 36(2) of the CSDDD will require the Commission\n(by 26 July 2030 and every three years thereafter) to submit to the Parliament\nand Council a report and any accompanying legislative proposals considered\nnecessary, on whether to amend key elements of the legislation including: the\nemployee and net turnover thresholds for falling in-scope; the definition of\nthe term \"chain of activities\"; the rules on combatting climate change,\npenalties and civil liability; or (introduction of) sector-specific approach\nfor high-risk sectors.  30\n\nRuth Benbow (Knowledge Manager, London) contributed to the development of this\npublication.\n\n1 Directive (EU) 2024/1760 of the European Parliament and of the Council of 13\nJune 2024 on corporate sustainability due diligence and amending Directive\n(EU) 2019/1937 and Regulation (EU) 2023/2859, available  [ here\n](https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202401760) .  \n2 Recital 16.  \n3 See White & Case alert, \u201cNew EU Batteries Regulation: introducing enhanced\nsustainability, recycling and safety requirements\u201d, 2 August 2023, available\n[ here  ](https://www.whitecase.com/insight-alert/new-eu-batteries-regulation-\nintroducing-enhanced-sustainability-recycling-and-safety) .  \n4 See White & Case alert, \u201c10 key things to know about the new EU\nDeforestation Regulation\u201d, 21 July 2023, available  [ here\n](https://www.whitecase.com/insight-alert/10-key-things-know-about-new-eu-\ndeforestation-regulation) .  \n5 The CSDDD provides that if a provision conflicts with another EU legislative\nact pursuing the same objectives and providing for more extensive or more\nspecific obligations, that other EU legislative act shall prevail. Article\n1(3).  \n6 Article 1(2).  \n7 Article 4.  \n8 Article 3(1)(a) contains a detailed definition of 'company'.  \n9 Article 2.  \n10 The European Network of Supervisory Authorities will publish an indicative\nlist of third-country companies subject to the CSDDD.  \n11 As explored in the table above, lower financial thresholds will also apply\nto EU and non-EU companies that rely on franchise or license models where the\ncompany's or group's agreements with third parties ensure a common identity, a\ncommon business concept and the application of uniform business methods. See\nArticle 2(1)(c) and 2(2)(c).  \n12 Other types of entities are also exempt from complying with obligations\nunder the CSDDD, including Alternative Investment Funds (AIFs) and\nundertakings for collective investment in transferable securities (UCITS).\nArticle 2(8).  \n13 Article 2(3).  \n14 Note that the obligation to communicate on due diligence (article 16)\nfollows a different timeline (Article 37).  \n15 Article 1(a).  \n16 Recital 19.  \n17 Article 22.  \n18 See W&C's contribution to ICC UK's Trade for Prosperity magazine \u201cThe\nCorporate Sustainability Reporting Directive: EU rules with global impact on\nbusiness\u201d, Spring 2024, available  [ here\n](https://cloud.3dissue.com/176015/176404/205852/ICCTradeForProsperityWS24DE/index.html)\n, page 90.  \n19 These are: (a) the nature, gravity and duration of the infringement, and\nthe severity of the impacts resulting from that infringement; (b) any\ninvestments made and any targeted support provided pursuant to Articles 10 and\n11; (c) any collaboration with other entities to address the impacts\nconcerned; (d) where relevant, the extent to which prioritisation decisions\nwere made in accordance with Article 9; (e) any relevant previous decisions\nfinding infringements by the company; (f) the extent to which the company\ncarried out any remedial action with regard to the concerned subject-matter;\n(g) the financial benefits gained from or losses avoided by the company due to\nthe infringement; and (h) any other aggravating or mitigating factors\napplicable to the circumstances of the case. See Article 27(2).  \n20 Article 27(4).  \n21 Article 27(4).  \n22 Article 25(5)(c).  \n23 Recital 76.  \n24 Article 29(1).  \n25 Article 29(1).  \n26 Article 29(5).  \n27 Article 29(2).  \n28 Article 29(3)(d).  \n29 Article 31.  \n30 Article 36.\n\nWhite & Case means the international legal practice comprising White & Case\nLLP, a New York State registered limited liability partnership, White & Case\nLLP, a limited liability partnership incorporated under English law and all\nother affiliated partnerships, companies and entities.\n\nThis article is prepared for the general information of interested persons. It\nis not, and does not attempt to be, comprehensive in nature. 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            },
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            "search_query": "company 'N/A' activities value chain",
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            "url": "https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "3df5d20b-b772-4837-95db-365a637a9363",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://report.lufthansagroup.com/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/"
                },
                "page_content": "  * [ Combined management report ](/2024/annual-report/en/combined-management-report/)\n    * [ Combined non-financial declaration ](/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/)\n      * [ E1 \u2013 Climate change ](/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/)\n        * [ Metrics and targets ](/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/)\n\n#  Metrics and targets\n\n#####  E1-4 \u2013 Targets related to climate change mitigation and adaptation\n\n######  Scientifically proven carbon reduction targets underpin climate\nprotection ambitions\n\nThe Lufthansa Group has set itself ambitious climate change mitigation\ntargets. The SBTi validation in 2022 made the Lufthansa Group the first\nairline group in Europe and the second worldwide with a scientifically\nverified CO\u2082 reduction target in line with the goals of the Paris Climate\nAgreement of 2015. In terms of the SBTi criteria the Lufthansa Group has set\nitself a target of reducing its carbon intensity, i.e. its CO\u2082 emissions in\ngrammes of CO  2  per revenue tonne-kilometre (passenger and freight) \u2013 by\n30.6 % from 2019 to 2030. The Lufthansa Group aligns its targets for reducing\nGHG emissions through the SBTi target with the political goal of limiting\nglobal warming to well below two degrees as set out in the Paris Agreement.\n\nThe Lufthansa Group\u2019s SBTi target is supplemented by a net-zero target for\n2050 and a net-emissions target of -50% for 2030 compared with 2019 to help\nlimit global warming to only 1.5\u00b0C as set out by the IPCC. The Lufthansa Group\nused 2019 as its base year because that was the last operating year unaffected\nby the coronavirus crisis in terms of emissions when the targets were set. The\ntargets for reducing carbon emissions also account for future developments,\nsuch as the growth in the number of flights based on the current company-wide\ngrowth scenarios. In addition, the Company has set a target for ground\noperations in Germany, Austria and Switzerland to source electricity\nexclusively from renewable energies. The Lufthansa Group has consolidated its\ncarbon emissions reductions. The validated SBTi target for aircraft operations\ncovers Scope 1 as well as Scope 3, Category 3. The targets defined for climate\nchange mitigation with regard to ground operations cover market-based Scope 2\nemissions.\n\nThe Lufthansa Group\u2019s mitigation pathway incorporates business development and\nforecasts the mitigation amounts of individual measures. It defines the key\nlevers by which the Lufthansa Group will decarbonise aircraft operations and\nachieve its targets. Numerous investments and partnerships support the\npathway, driving emissions reductions in the short to medium term and\nadvancing the development of the technologies needed over the long term.\n\n######  Management of SBTi targets is embedded within the Company\n\nThe Corporate Responsibility department, in close collaboration with the\nrelevant business areas and specialist departments, develops the strategy and\ndesigns the reduction targets for the Lufthansa Group\u2019s airlines. The\nExecutive Board has ultimate oversight of the climate change mitigation and\nenvironmental strategy, as well as the organisation, management and\nimplementation of these targets. The Group\u2019s ESG reporting team coordinates\nthe targets to ensure consistency with the GHG inventory.\n\n######  The contribution of individual decarbonisation levers has been\nquantified\n\nThe Lufthansa Group has identified a number of decarbonisation levers, which\nare described within its four-pillar strategy and the measures taken. The\nLufthansa Group quantifies the following contributions of its individual\ndecarbonisation levers to achieving the SBTi target in 2030:\n\n  * Fleet renewal reduces GHG emissions per revenue tonne-kilometre (RTK) by a projected 15% based on current framework conditions such as the supply reliability of aircraft manufacturers \n  * Operational efficiency measures reduce GHG emissions per RTK by a projected 3.8% based on current framework conditions such as the networked utilisation of European airspace \n  * The use of SAF additionally reduces GHG emissions per RTK by a projected 3.4% based on current framework conditions such as the availability and economic viability of SAF. \n\nTo achieve its net climate change mitigation targets, the Lufthansa Group\nrelies not only on decarbonisation measures but also on compensation\ninitiatives, such as supporting certified climate change mitigation projects.\n\n######  Progress on target achievement measured annually\n\nOverall, the combined reduction in carbon emissions per RTK compared with the\nbase year 2019 (SBTi KPI) across all measures amounted to 3.8% in the\nreporting year.\n\nThe main influencing factors were delays in the delivery of modern aircraft,\nwhich prevented the planned fleet renewal from being implemented as originally\nscheduled. Additionally, current geopolitical situations, such as Russia\u2019s war\nof aggression against Ukraine and the Middle East crisis, have required\nflights to detour around large-scale airspace restrictions, leading to\nincreased fuel consumption on the affected routes in recent years.\n\nThe Lufthansa Group is continuously working on modernising its fleet,\nincreasing the use of sustainable aviation fuels (SAF) and implementing\nfurther efficiency measures. The Lufthansa Group is also expanding its\nservices and offerings for more sustainable flight options, enabling further\nreductions in carbon emissions.\n\n######  The handling of other gases with an impact on climate remains\nunresolved\n\nThe Lufthansa Group has not yet defined targets for other climate-relevant\nnon-CO  2  gases. It is currently conducting research to develop a uniform\nstandard for converting these into CO  2  equivalents (CO  2  eq) or another\nappropriate metric. Once established, the Lufthansa Group will define and set\ntargets. To date, neither researchers nor legislators have made a clear\ndetermination regarding the parameters to be used or the time period over\nwhich the effects are to be considered.\n\n######  Energy-related targets for ground mobility have been adopted\n\nIn addition to the certified climate change mitigation targets for aircraft\noperations, the Lufthansa Group also aims to become carbon-neutral in ground\nmobility in the DACH region by 2030. However, it does not follow a defined\nsector-specific pathway, and these targets are not verified as compatible with\nthe target of 1.5 degrees.\n\n#####  E1-5 - Energy consumption and mix\n\nThe Lufthansa Group records and analyses its global energy consumption\nannually. The energy consumption figures are of high significance for the\nLufthansa Group, serving both as the basis for calculating its carbon\nfootprint and for verifying the effectiveness of implemented energy reduction\nmeasures, and because the Lufthansa Group operates in sectors classified as\nclimate-intensive. These climate-intensive sectors include both passenger and\nfreight air transport as well as activities of Lufthansa Technik in the\nMaintenance, Repair and Overhaul (MRO) segment. An overview of the ESRS\nsectors is provided in [ ESRS 2 General disclosures - Strategy, business model\nand value chain. ](/2024/annual-report/en/combined-management-report/combined-\nnon-financial-declaration/esrs2-general-disclosures/strategy/#headline-158650)\n\nThe following table provides a detailed overview of the energy sources and\ntheir consumption across all the business areas of the Company:\n\n**T057** |  **ESRS E1-5 | AR34 Energy consumption and mix in 2024**  \n---|---  \n|  |   \n|  |   \n(1) Fuel consumption from crude oil and petroleum products  |  MWh  |  109,875,298   \n(2) Fuel consumption from natural gas  |  MWh  |  122,282   \n(3) Fuel consumption from other fossil sources  |  MWh  |  0   \n(4) Consumption from purchased or acquired electricity, heat, steam and cooling from fossil sources  |  MWh  |  213,602   \n**(5) Total fossil energy consumption** |  **MWh** |  **110,211,182**  \n**Percentage of fossil sources in total energy consumption** |  **%** |  **99.6%**  \n**(6) Consumption from nuclear sources** |  **MWh** |  **0**  \n**Percentage of consumption from nuclear sources in total energy consumption** |  **%** |  **0.0%**  \n(7) Fuel consumption from renewable sources, including biomass (also industrial and municipal waste of biological origin, biogas, hydrogen from renewable sources, etc.)  |  MWh  |  247,319   \n(8) **** Consumption from purchased or acquired electricity, heat, steam and cooling from renewable sources  |  MWh  |  220,819   \n**(9) Total renewable energy consumption** |  **MWh** |  **468,137**  \n**Percentage of renewable sources in total energy consumption** |  **%** |  **0.4%**  \n**Total energy consumption** |  **MWh** |  **110,679,319**  \n|  |   \n  \nIn addition to the absolute energy consumption figures, the Lufthansa Group\nhas, for the first time this reporting year, calculated the energy intensity\nfor the climate-intensive sectors. This amounted to 2.7 KWh per euro of\nrevenue for 2024.\n\nA detailed description of the calculation methodologies for energy use and\nenergy intensity can be found under [ Calculation methods in 2024 -\nEnvironment. ](/2024/annual-report/en/combined-management-report/combined-non-\nfinancial-declaration/e5-resource-use-and-circular-economy/metrics-and-\ntargets-2/#table_159021)\n\n#####  E1-6 - Gross Scopes 1, 2, 3 and Total GHG emissions\n\n######  The carbon footprint in accordance with the GHG Protocol is determined\nannually\n\nThe Lufthansa Group calculates its carbon footprint each year. The carbon\nfootprint of the Lufthansa Group represents the total of all carbon dioxide\nand other GHG emissions generated by its operations as defined by the\ninternationally recognised GHG Protocol standards \u2013 including significant\nemissions from the supply chain. To establish the greatest possible level of\ntransparency and comparability, the Lufthansa Group\u2019s carbon footprint is\nverified annually by an independent external audit organisation and detailed\ninformation is provided, including by means of the Group\u2019s participation in\nthe recognised CDP rating scheme. However, because ESRS has been applied for\nthe first time, there are some isolated changes in the data collection and\ncalculation methodology. A detailed description of these changes, as well as\ntheir impact on the carbon footprint, is provided under [ Calculation methods\nin 2024 - Environment. ](/2024/annual-report/en/combined-management-\nreport/combined-non-financial-declaration/e5-resource-use-and-circular-\neconomy/metrics-and-targets-2/#table_159021)\n\nThe carbon emissions for 2024 are presented in the following table.\n\n**T058** |  **ESRS E1-6 | AR48 GHG** **emissions** **in 2024**  \n---|---  \n|  |  |  Retrospective  |  Milestones and target years   \n|  |  Base year   \n(2019)  |  2023  |  2024  |  Change in %  |  2025  |  2030  |  Annual % of target/   \nBase year  \n|  |  |  |  |  |  |  |   \n**Scope 1** **GHG** **emissions** |  |  |  |  |  |  |  |   \nGross Scope 1 GHG emissions  |  in 1,000 tonnes CO  2  e  |  33,349  |  26,822  |  29,159  |  9%  |  n/a  |  see E1-4 targets  |  n/a   \nPercentage of Scope 1 emissions from regulated  \nemissions trading systems  |  %  |  26%  |  32%  |  33%  |  3%  |  n/a  |  n/a  |  n/a   \n**Scope 2** **GHG** **emissions** |  |  |  |  |  |  |  |   \nGross location-based Scope 2  \nGHG emissions  |  in 1,000 tonnes CO  2  e  |  260  |  161  |  124  |  -23%  |  n/a  |  n/a  |  n/a   \nGross market-based Scope 2  \nGHG emissions  |  in 1,000 tonnes CO  2  e  |  200  |  91  |  49  |  -46%  |  n/a  |  see E1-4 targets  |  n/a   \n**Significant Scope 3**  \n**GHG** **emissions** |  |  |  |  |  |  |  |   \nTotal indirect (Scope 3)  \ngross GHG emissions  |  in 1,000 tonnes CO  2  e  |  10,589  |  10,063  |  13,734  |  36%  |  n/a  |  n/a  |  n/a   \n(1) Purchased goods and  \nservices  |  in 1,000 tonnes CO  2  e  |  12  |  9  |  3,326  |  36,856%  |  n/a  |  n/a  |  n/a   \n(2) Assets  |  in 1,000 tonnes CO  2  e  |  806  |  369  |  301  |  -18%  |  n/a  |  n/a  |  n/a   \n(3) Activities related to fuels and energy (not in Scope 1 or Scope 2)  |  in 1,000 tonnes CO  2  e  |  7,893  |  5,995  |  6,313  |  5%  |  n/a  |  see E1-4 targets  |  n/a   \n(4) Upstream transport and distribution  |  in 1,000 tonnes CO  2  e  |  1,441  |  1,123  |  1,821  |  62%  |  n/a  |  n/a  |  n/a   \n(5) Waste generated in operations  |  in 1,000 tonnes CO  2  e  |  271  |  3  |  12  |  300%  |  n/a  |  n/a  |  n/a   \n(6) Business travel  |  in 1,000 tonnes CO  2  e  |  63  |  41  |  46  |  12%  |  n/a  |  n/a  |  n/a   \n(7) Commuting own workforce  |  in 1,000 tonnes CO  2  e  |  38  |  55  |  58  |  5%  |  n/a  |  n/a  |  n/a   \n(8) Upstream leased  \nassets  |  in 1,000 tonnes CO  2  e  |  n/a  |  1  |  0  |  -100%  |  n/a  |  n/a  |  n/a   \n(9) Downstream transport  |  in 1,000 tonnes CO  2  e  |  n/a  |  1  |  1  |  0%  |  n/a  |  n/a  |  n/a   \n(10) Processing of sold products  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(11) Use of sold products  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(12) End-of-life treatment of products  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(13) Downstream leased  \nassets  |  in 1,000 tonnes CO  2  e  |  65  |  502  |  631  |  26%  |  n/a  |  n/a  |  n/a   \n(14) Franchises  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(15) Capital expenditure  |  in 1,000 tonnes CO  2  e  |  not available  |  1,964  |  1,225  |  -38%  |  n/a  |  n/a  |  n/a   \n**Total GHG emissions** |  |  |  |  |  |  |  |   \nTotal GHG emissions  \n(location-based)  |  in 1,000 tonnes CO  2  e  |  44,198  |  37,046  |  43,017  |  16%  |  n/a  |  see E1-4 targets  |  14%  1  )   \nTotal GHG emissions  \n(market-based)  |  in 1,000 tonnes CO  2  e  |  44,138  |  36,976  |  42,942  |  16%  |  n/a  |  see E1-4 targets  |  14%  1  )   \n|  |  |  |  |  |  |  |   \n1)  Relates to Scope 1 and Scope 3, Category 3 and is variable depending on\nthe assumed RTK growth until 2030.  \n  \nFor Scope 3 Category 1 and Category 5, there are significant deviations\ncompared with the previous year. These are due to an expanded data collection\nmethodology. Further details can be found under [ Calculation methods in 2024\n- Environment. ](/2024/annual-report/en/combined-management-report/combined-\nnon-financial-declaration/e5-resource-use-and-circular-economy/metrics-and-\ntargets-2/#table_159021)\n\nIn addition to the GHG emissions from fossil fuel sources, the Lufthansa Group\nalso calculates the emissions resulting from the combustion of biogenic energy\nsources, particularly SAF. For 2024, these amount to 63,741 t CO2e in Scope 1.\nThere were no biogenic emissions in Scope 2 or Scope 3.\n\nSimilar to energy intensity, this is the first year that the Lufthansa Group\nis reporting on carbon intensity. The amount of carbon dioxide equivalents\nemitted per million euros of net revenue is detailed in the following table.\n\n**T059** |  **ESRS E1-6 | 54 GHG intensity by net revenue in 2024**  \n---|---  \n|  |  2023  |  2024  |  Change in %   \n|  |  |  |   \nGHG emissions intensity by net revenue (location-based)  |  t CO  2  e/EUR m  |  n/a  |  1,145  |  n/a   \nGHG emissions intensity by net revenue (market-based)  |  t CO  2  e/EUR m  |  n/a  |  1,143  |  n/a   \n|  |  |  |   \n  \n#####  E1-7 \u2013 GHG removals and GHG mitigation projects financed through carbon\ncredits\n\n######  The Lufthansa Group incorporates carbon offset contributions to\nachieve its voluntary climate change mitigation target\n\nBeyond the reduction defined by the SBTi targets, the Lufthansa Group aims to\nmeet its self-imposed goal \u2013 to halve its net carbon emissions by 2030\ncompared with 2019. This includes voluntary carbon offsets. These offsets\ncontribute significantly to the climate change mitigation target. The carbon\noffset contributions flow into a portfolio of climate change mitigation\nprojects, which includes initiatives in various countries around the world,\nsuch as Germany, Austria and Switzerland. Currently, the Lufthansa Group is\nsupported in this endeavour by the organisations myclimate, Climate Austria,\nSQUAKE and ClimatePartner. The project portfolio includes modern, technology-\nbased projects such as CarbonCure\u2019s sustainable concrete (which captures\ncarbon and stores it longterm in concrete) and Biochar (carbon removal through\nplant-based biomass). In doing so, the Lufthansa Group fosters the development\nof the carbon offset market towards new technologies and offerings that\ndeliver long-term carbon sequestration. This standard is recommended by the\nGerman Environment Agency. Passengers contribute through offerings for more\nsustainable flying, such as the Green Fares flight tariff offered by the\nLufthansa Group\u2019s airlines Lufthansa Airlines, Austrian Airlines, Brussels\nAirlines, SWISS, Edelweiss, Discover Airlines and Air Dolomiti. In addition to\nthe voluntary offsetting activities described in this report, the Lufthansa\nGroup also participates in CORSIA as a mandatory offsetting scheme in the\naviation sector. In the long term, the Lufthansa Group aims to become carbon\nneutral by 2050 through measures such as these.\n\nReducing emissions through measures such as fleet modernisation, improvements\nin operational efficiency and the use of SAF is associated with high costs. As\na sector that is difficult to decarbonise, aviation will be reliant on the use\nof carbon certificates in the long term.\n\nBy using carbon credits, the Lufthansa Group ensures that measures which help\nto prevent the generation of GHG in the first place, such as fleet\nmodernisation, are not hindered. Investments in operational measures are\nprioritised over carbon credits as a reduction measure. However, based on the\ncurrent state-of-the-art, further reduction measures beyond those already\nimplemented are not economically viable for the Lufthansa Group at this time.\nFor this reason, carbon credits are indispensable as a means of carbon\noffsetting. In addition, customers purchase and finance carbon credits. This\nmeans no investment funds become permanently tied up that could otherwise be\nallocated to other reduction measures.\n\nAll current projects in the Lufthansa Group climate change mitigation\nportfolio are certified to a high standard. Over 90% of these projects are\nverified against the Gold Standard, which is recommended by the German\nEnvironment Agency. In addition, two technology-based projects (CarbonCure\u2019s\nsustainable concrete and biochar) are certified under the Puro Earth Standard\nand the Verified Carbon Standard (VCS). Projects by Climate Austria are\ncertified in accordance with local Austrian standards and national\nenvironmental funding regulations. Another local project within Europe is\ncertified under the MoorFutures Standard.\n\nThe amount of retired carbon certificates, as well as the planned amount of\ncarbon certificates to be retired in the future, is listed in the following\ntable. The total amount of carbon credits planned for retirement is\nexclusively based on contracts concluded with carbon credit providers.\nHowever, deviations between the planned values and the actual values may occur\nfor 2025. A detailed description of the calculation methodologies can be found\nunder [ Calculation methods in 2024 - Environment. ](/2024/annual-\nreport/en/combined-management-report/combined-non-financial-\ndeclaration/e5-resource-use-and-circular-economy/metrics-and-\ntargets-2/#table_159021)\n\n**T060** |  **ESRS E1-7 | 59a & b Carbon certificates retired in reporting year 2024 **  \n---|---  \n|  |   \n|  |   \nTotal  |  t CO  2  e  |  606,007   \nPercentage of reduction projects  |  t CO  2  e  |  545,580   \nPercentage of removal projects  |  t CO  2  e  |  60,427   \nOf which on a technological basis  |  %  |  5%   \nOf which on a biogenic basis  |  %  |  95%   \n**Percentage by primary standards used** |  |   \nPercentage Plan Vivo  |  %  |  6%   \nPercentage Gold Standard  |  %  |  90%   \nPercentage MoorFutures  |  %  |  1%   \nPercentage Puro Earth Standard  |  %  |  1%   \n**Carbon certificates to be retired in future reporting years** |  |   \nCarbon certificates to be retired in future based on the volume sold by the Lufthansa Group in 2024  |  t CO  2  e  |  657,235   \n|  |   \n  \nBased on the absolute amounts of retired carbon certificates presented in the\nabove table, 10% relate to removal projects and 90% to reduction projects. 3%\nof the retired certificates relate to projects carried out in Europe.\nMoreover, the Lufthansa Group has not retired any carbon certificates that\nfall under Article 6 of the Paris Climate Agreement.\n\n#####  E1-9 \u2013 Anticipated financial effects from material physical and\ntransition risks and potential climate-related opportunities\n\nThe Lufthansa Group is making use of the option available under ESRS 1\nParagraph 137 to omit the disclosures required under ESRS E1-9 in the first\nyear of preparation of its consolidated non-financial statement.\n\n[ Back  Impact, risk and opportunity management  ](/2024/annual-\nreport/en/combined-management-report/combined-non-financial-\ndeclaration/e1-climate-change/impact-risk-and-opportunity-management-1/) [\nNext  E2 - Pollution  ](/2024/annual-report/en/combined-management-\nreport/combined-non-financial-declaration/e2-pollution/)\n\n##  REPORTING COCKPIT\n\nFind content relevant to you by entering a search term or selecting a topic.\nOr select a topic:\n\n##\n\n  * [ Lufthansa Group ](https://www.lufthansagroup.com/en/home.html)\n    * [ Company ](https://www.lufthansagroup.com/en/company.html)\n    * [ Responsibility ](https://www.lufthansagroup.com/en/responsibility.html)\n    * [ Investor Relations ](https://investor-relations.lufthansagroup.com/de.html)\n    * [ Jobs & Careers ](https://lufthansagroup.careers/en)\n    * [ Supply Chain Management ](https://www.lufthansagroup.com/en/suppliers.html)\n  * [ Current ](https://newsroom.lufthansagroup.com/en)\n    * [ Newsroom ](https://newsroom.lufthansagroup.com/en)\n    * [ Media Lounge ](https://medialounge.lufthansagroup.com/en)\n    * [ Policy brief ](https://politikbrief.lufthansagroup.com/en)\n  * [ Service ](https://www.lufthansagroup.com/en/service.html)\n    * [ Contact ](https://www.lufthansagroup.com/en/service/contact.html)\n    * [ Imprint ](https://www.lufthansagroup.com/en/service/imprint.html)\n    * [ Disclaimer ](https://investor-relations.lufthansagroup.com/en/service/disclaimer.html)\n    * [ Privacy ](https://www.lufthansagroup.com/en/service/privacy.html)\n  * [ German ](/2024/annual-report/de/)\n  *     * [ Twitter  ](https://www.twitter.com/LufthansaNews/)\n\n  *   * [ Key figures  ](/2024/annual-report/en/key-figures/)\n  * [ Download  ](/2024/annual-report/en/downloads/)\n\n",
                "url": "https://report.lufthansagroup.com/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/"
            },
            "reason": "This is an annual report from Lufthansa Group, a reputable company. It discusses climate change metrics and targets, which are related to the value chain in terms of sustainability. However, it does not explicitly detail the company's activities within the value chain.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' activities value chain",
            "summary": "This is an annual report from Lufthansa Group, a reputable company. It discusses climate change metrics and targets, which are related to the value chain in terms of sustainability. However, it does not explicitly detail the company's activities within the value chain.",
            "url": "https://report.lufthansagroup.com/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "16ed495d-8a05-4653-9c47-d54476e69d8f",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.semiconductors.org/chip-supply-chain-investments/"
                },
                "page_content": "  * [ ](https://www.facebook.com/SIAAmerica)\n  * [ ](https://twitter.com/siaamerica)\n  * [ ](https://www.youtube.com/user/SIAAmerica)\n  * [ ](https://www.linkedin.com/company/semiconductor-industry-association/)\n  * [ WSTS Login ](/subscriber-login/)\n  *   * [ Contact ](/contact/)\n\n[ ](/)\n\n#  Semiconductor Supply Chain Investments\n\n##  America\u2019s Chip Resurgence: Over $540 Billion in Semiconductor Supply Chain\nInvestments\n\n#####  **_Last updated March 7, 2025_ **\n\nThe Advanced Manufacturing Investment Credit (Section 48D) and manufacturing\ngrant incentives have sparked substantial investments in the U.S. In fact,\ncompanies in the semiconductor ecosystem have announced **over 100 projects**\n**across** **28 states** \u2014totaling **more than half of a trillion dollars** in\nprivate investments\u2014since 2020. These announced projects will **create and\nsupport over 500,000 American jobs** \u2014 **68,000 facility jobs** in the\nsemiconductor ecosystem; **122,000 construction jobs** ; and support over\n**320,000 additional jobs** throughout the U.S. economy.\n\nThus far, the Department of Commerce has announced **$32.5417 billion in grant\nawards** and up to **$5.85 billion in loans to 32 companies across 48\nprojects.** A Preliminary memorandum of terms (PMTs) is a non-binding\nagreement between companies and the Department of Commerce. A due diligence\nstage follows a PMT, after which a final award agreement will be reached. As\nmilestones of the projects are achieved, funds will be disbursed to reimburse\nawardees for funds spent to reach each milestone. The Departments of Defense\nand Commerce also issued a [ joint statement\n](https://www.defense.gov/News/Releases/Release/Article/3906926/department-of-\ndefense-department-of-commerce-joint-statement-announcement-in-su/\n\"https://www.defense.gov/News/Releases/Release/Article/3906926/department-of-\ndefense-department-of-commerce-joint-statement-announcement-in-su/\") on Sept.\n16 announcing Intel as the recipient of up to **$3 billion** in grant\nincentives for the \u201cSecure Enclave\u201d program, which \u201cwill support the\nmanufacturing of microelectronics and ensure access to a domestic supply chain\nof advanced semiconductors for national security.\u201d\n\nSIA looks forward to working with the Treasury and Commerce Departments to\nensure tax credit and grant incentives are implemented in an effective,\nefficient, and timely manner. Doing so will help reinvigorate U.S. chip\nproduction and innovation and deliver major benefits for America\u2019s economy,\njob creation, national security, supply chain resilience, and technology\nleadership.\n\nSIA will update this webpage with announcements regarding investments in\ncommercial fabrication facilities (front-end and back-end), facilities for the\nmanufacturing of semiconductor equipment and materials, and R&D facilities.\n\n##  CHIPS Grant Awardees\n\n##  Analog Devices\n\n**Location:** Beaverton, OR\n\n**Incentive Amount:** $105 million across 3 locations\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** 180nm and 350nm analog\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-preliminary-terms-analog-\ndevices-coherent)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/analog-devices-inc-\noregon-beaverton) \u201cCHIPS for America\u2019s proposed investment in Oregon would\nsupport the expansion of front-end mature node semiconductor manufacturing for\ndevices used in a wide variety of applications, including but not limited to\nautomotive, industrial, and defense applications.\u201d\n\n**Date of PMT:** Jan. 16, 2025\n\n##  Analog Devices\n\n**Location:** Camas, WA\n\n**Incentive Amount:** $105 million across 3 locations\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** 180nm and 350nm analog\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-preliminary-terms-analog-\ndevices-coherent)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/analog-devices-inc-\nwashington-camas) \u201cCHIPS for America\u2019s proposed investment in Washington would\nsupport the expansion of front-end mature node semiconductor manufacturing for\ndevices used in a wide variety of applications, including but not limited to\nautomotive, industrial, and defense applications.\u201d\n\n**Date of PMT:** Jan. 16, 2025\n\n##  Analog Devices\n\n**Location:** Chelmsford, MA\n\n**Incentive Amount:** $105 million across 3 locations\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** RF microwave systems; packaging and test\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-preliminary-terms-analog-\ndevices-coherent)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/analog-devices-inc-\nmassachusetts-chelmsford) \u201cThe proposed investment in ADI would support the\nexpansion and modernization of two advanced research & development (R&D) and\nRadio Frequency (RF) Microwave (MW) systems manufacturing facilities in\nChelmsford, Massachusetts.\u201d\n\n**Date of PMT:** Jan. 16, 2025\n\n##  Coherent\n\n**Location:** Easton, PA\n\n**Incentive Amount:** $79 million\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** 150mm and 200mm SiC substrates\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-preliminary-terms-analog-\ndevices-coherent)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/coherent-\npennsylvania-easton) \u201cThe proposed CHIPS investment would also support the\nexpansion of the facility\u2019s SiC epitaxial wafer manufacturing capacity, back-\nend of line processing, electronic performance, and reliability testing\ncapabilities. SiC substrates are an important bandgap material with end uses\nin energy and military applications.\u201d\n\n**Date of PMT:** Jan. 16, 2025\n\n##  Sumika (Sumitomo Chemical)\n\n**Location:** Baytown, TX\n\n**Incentive Amount:** $52.1 million\n\n**Project Type:** New\n\n**Technology:** Ultra-high purity isopropyl alcohol\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-preliminary-terms-analog-\ndevices-coherent)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/sumika-texas-\nbaytown) \u201cThe proposed CHIPS funding would support the manufacturing of ultra-\nhigh purity (UHP) isopropyl alcohol (IPA) used in advanced logic and memory\nchip production.\u201d\n\n**Date of PMT:** Jan. 16, 2025\n\n##  IntelliEPI\n\n**Location:** Allen, TX\n\n**Incentive Amount:** $10.3 million\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** Compound wafers (InP, GaAs, GaSb, GaN)\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-preliminary-terms-analog-\ndevices-coherent)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/intelliepi-texas-\nallen) \u201cThe proposed CHIPS funding would support IntelliEPI\u2019s growth of high-\nquality epitaxy material on Indium Phosphide (\u201cInP\u201d), Gallium Arsenide\n(\u201cGaAs\u201d), Gallium Antimonide (\u201cGaSb\u201d), and Gallium Nitride (\u201cGaN\u201d) compound\nsemiconductor wafers based on an advanced production Molecular Beam Epitaxy\n(MBE) technology platform.\u201d\n\n**Date of PMT:** Jan. 16, 2025\n\n##  MACOM\n\n**Location:** Morrisville, NC\n\n**Incentive Amount:** $70 million across 2 locations\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** 100mm GaN & GaAs; 150mm GaN\n\n[ Commerce Press Release ](https://www.nist.gov/news-events/news/2025/01/us-\ndepartment-commerce-announces-preliminary-terms-macom-help-strengthen)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/macom-north-\ncarolina-durham) \u201cThe proposed CHIPS funding would support the expansion and\nmodernization of MACOM\u2019s existing facility which would increase the production\nof 100mm Gallium Nitride (GaN) and Gallium Arsenide (GaAs) semiconductor\nfabrication and introduce the production of 150mm GaN.\u201d\n\n**Date of PMT:** Jan. 14, 2025\n\n##  MACOM\n\n**Location:** Lowell, MA\n\n**Incentive Amount:** $70 million across 2 locations\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** 100mm GaN & GaAs; 150mm GaN\n\n[ Commerce Press Release ](https://www.nist.gov/news-events/news/2025/01/us-\ndepartment-commerce-announces-preliminary-terms-macom-help-strengthen)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/macom-\nmassachusetts-lowell) \u201cThe proposed CHIPS funding would support the expansion\nand modernization of MACOM\u2019s existing facility which would increase the\nproduction of 100mm Gallium Nitride (GaN) and Gallium Arsenide (GaAs)\nsemiconductor fabrication and introduce the production of 150mm GaN.\u201d\n\n**Date of PMT:** Jan. 14, 2025\n\n##  Bosch\n\n**Location:** Roseville, CA\n\n**Incentive Amount:** $225 million\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** 200mm Silicon Carbide \u2013 front-end and back-end\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announces-preliminary-terms-\nbosch-advance-us)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/bosch-california-\nroseville) \u201cThis proposed CHIPS investment would support the expansion of\nBosch\u2019s largest SiC device factory globally and increase the company\u2019s\nproduction capacity which could comprise more than 40% of all U.S.-based SiC\ndevice manufacturing capacity. Bosch expects to produce its first chips on\n200-millimeter wafers in its Roseville facility starting in 2026. The facility\nwill perform both front-end device manufacturing and backend testing, sorting,\nand dicing processes\u201d\n\n**Date of PMT:** Dec. 13\n\n##  Micron\n\n**Location:** Manassas, VA\n\n**Incentive Amount:** $275 million\n\n**Project Type:** Modernization\n\n**Technology:** Legacy DRAM, 1-alpha node technology\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/department-commerce-awards-chips-incentives-micron-idaho-\nand-new-york)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/micron-virginia-\nmanassas) \u201cThe Department of Commerce has signed a non-binding Preliminary\nMemorandum of Terms (PMT) with Micron Technology for up to $275 million in\nproposed funding to expand and modernize its facility in Manassas, Virginia.\nThe expected capital expenditure for the modernization will be $2 billion over\nthe next several years. The proposed project would onshore Micron\u2019s 1-alpha\ntechnology to its Manassas facility, significantly increasing monthly wafer\noutput. Micron\u2019s 1-alpha node, an advanced DRAM process technology, offers\nmeaningful improvements in bit density, power efficiency, and performance\ncapability. Supporting a stable supply of Micron\u2019s 1-alpha technology would\nadvance U.S. supply chain resiliency because the legacy DRAM memory chips that\nwould be made in Virginia are important components for the automotive and\nindustrial markets. Micron\u2019s proposed project in Manassas would be expected to\ncreate over 400 manufacturing jobs and up to 2700 community jobs at the peak\nof the project.\u201d\n\n**Date of PMT:** Dec. 10\n\n##  SkyWater Technology\n\n**Location:** Bloomington, MN\n\n**Incentive Amount:** $16 million\n\n**Project Type:** Modernization\n\n**Technology:** 90nm and 130nm foundry\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announce-preliminary-terms-\ncoherent-skywater)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/skywater-\ntechnology-minnesota-bloomington) \u201cThe Biden-Harris Administration\u2019s proposed\ninvestment of up to $16 million in SkyWater would support the modernization of\nits existing facility in Bloomington, Minnesota to improve the quality of\nproduction and wafer services by replacing equipment, upgrading the facility\u2019s\ncleanroom and space and IT systems, and increase overall production capacity\nof 90nm and 130nm wafers by approximately 30%. SkyWater\u2019s Bloomington facility\noffers its customers in the aerospace and defense, automotive, biomedical and\nindustrial markets the ability to prototype and scale to volume production\ndifferentiated technology. The company is a Department of Defense (DoD)\nTrusted Foundry; as a result of proposed CHIPS funding, the company would be\nable to improve productivity and enhance operational sustainability to support\nDoD missions as well as grow its commercial business.\u201d\n\n**Date of PMT:** Dec. 6\n\n##  Coherent\n\n**Location:** Sherman, TX\n\n**Incentive Amount:** $33 million\n\n**Project Type:** Expansion/Modernization\n\n**Technology:** 150mm Indium Phosphide Optoelectronics\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announce-preliminary-terms-\ncoherent-skywater)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/coherent-texas-\nsherman) \u201cThe Biden-Harris Administration\u2019s proposed investment of up to $33\nmillion would support the modernization and expansion of a state-of-the-art\nmanufacturing cleanroom in Coherent\u2019s existing 700,000 square-foot facility in\nSherman, Texas to establish the world\u2019s first 150mm indium phosphide (InP)\nmanufacturing line by adding advanced wafer fabrication equipment to produce\nInP devices at scale. InP optoelectronic devices are widely used in\napplications such as datacom and telecom transceivers, including for AI\ninfrastructure applications, advanced sensing for consumer electronics, and\nmedical and automotive applications. The increased production of Coherent\u2019s\nInP devices, which are increasingly growing in demand, would allow the U.S. to\nadvance supply chain resiliency and technological leadership and create\napproximately 70 jobs.\u201d\n\n**Date of PMT:** Dec. 6\n\n##  X-FAB\n\n**Location:** Lubbock, TX\n\n**Incentive Amount:** $50 million\n\n**Project Type:** Expansion/Modernization\n\n**Technology:** Silicon carbide foundry\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announce-preliminary-terms-\ncoherent-skywater)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/x-fab-texas-\nlubbock) \u201cThe Biden-Harris Administration\u2019s proposed investment of up to $50\nmillion would support the expansion and modernization of X-Fab\u2019s Silicon\nCarbide (SiC) foundry facility, the only high-volume SiC foundry in the U.S.\nSiC technology is key to the global decarbonization efforts in the automotive\nand industrial sectors and offers multiple advantages over conventional\nsilicon-based technologies for high-power applications. The proposed CHIPS\nfunding would bolster supply resiliency for critical infrastructure markets\nthat were adversely impacted by foundry capacity shortages and supply chain\ndisruptions during the COVID-19 pandemic.\u201d\n\n**Date of PMT:** Dec. 6\n\n##  Akash Systems\n\n**Location:** West Oakland, CA\n\n**Incentive Amount:** $18.2 million\n\n**Project Type:** New Fab\n\n**Technology:** Diamond Cooling substrates, devices, and systems\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-preliminary-terms-\nakash-systems)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed CHIPS investment would support the construction of a 40,000\nsquare foot cleanroom space within an existing building to transform it into a\nfacility for semiconductor manufacturing with various Diamond Cooling\nsubstrates, devices, and systems at scale. The funding would support a $121\nmillion investment by Akash and enable the company to leverage its\nintellectual property and experience of developing semiconductor technologies\nthat serve important end markets such as communications and the defense\nindustrial base.\u201d\n\n**Date of PMT:** Nov. 13\n\n##  Corning\n\n**Location:** Canton, NY\n\n**Incentive Amount:** $32 million\n\n**Project Type:** Expansion\n\n**Technology:** High Purity Fused Silica and Extreme Ultra Low Expansion Glass\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-preliminary-terms-\ncorning-and-powerex)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201c[This project will] increase production of Corning HPFS Fused Silica (High\nPurity Fused Silica) (HPFS) and EXTREME ULE Glass (Ultra Low Expansion Glass)\nand scale a novel technology manufacturing process in Canton. HFPS and ULE\nmaterials are key components of deep ultraviolet (DUV) and extreme ultraviolet\n(EUV) lithography machines and photomasks, which are important for the\nmanufacturing of leading-edge semiconductors, and this new technology would\nimprove EUV performance with a lower carbon footprint. This proposed\ninvestment in Corning would help enable a reliable domestic supply of these\nimportant components in the United States and help advance U.S. technology\nleadership in the lithography supply chain.\u201d\n\n**Date of PMT:** Nov. 8\n\n##  Powerex\n\n**Location:** Youngwood, PA\n\n**Incentive Amount:** $3 million\n\n**Project Type:** Modernization, Expansion\n\n**Technology:** Power module packaging\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-preliminary-terms-\ncorning-and-powerex)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThis facility packages semiconductor power modules for important defense\napplications including the F-35, as well as commercial and industrial\napplications. The proposed funding would be expected to nearly double capacity\nand modernize key equipment. The project is estimated to create over 55\nmanufacturing jobs and up to 20 construction jobs.\u201d\n\n**Date of PMT:** Nov. 8\n\n##  Hemlock Semiconductor\n\n**Location:** Hemlock, MI\n\n**Incentive Amount:** $325 million\n\n**Project Type:** New Facility\n\n**Technology:** Hyper-pure semiconductor-grade polysilicon\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2025/01/department-commerce-announces-chips-incentives-award-\nhemlock-semiconductor)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/hemlock-\nsemiconductor-michigan-hemlock) \u201cThe CHIPS for America award will provide\nHemlock Semiconductor up to $325 million in total direct funding under the\nCHIPS and Science Act to support the construction of a new manufacturing\nfacility on HSC\u2019s existing campus in Hemlock, Michigan, dedicated to the\nproduction and purification of hyper-pure semiconductor-grade polysilicon.\u201d\n\n**Date of PMT:** Oct. 21, 2024\n\n**Final Award:** Jan. 7, 2025\n\n##  Infinera\n\n**Location:** Bethlehem, PA\n\n**Incentive Amount:** $93 million across both projects\n\n**Project Type:** New Facility\n\n**Technology:** Assembly Test and Packaging\n\n[ Commerce Press Release ](https://www.nist.gov/news-events/news/2025/01/us-\ndepartment-commerce-announces-chips-incentives-awards-corning-edwards)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/infinera-\npennsylvania-bethlehem) \u201cConstruct a new, state-of-the-art advanced test and\npackaging facility focused on meeting the increasing demand for InP PICs. As\none of the only advanced test and packaging facilities dedicated to packaging\nInP PICs in the United States, this project would also help bolster the\ndomestic and global packaging supply chains while keeping a domestic packaging\nbase for Infinera\u2019s defense and intelligence customers and the commercial and\nAI sectors. Additionally, this facility would include dedicated R&D space\nfocused on newer optical packaging technologies, such as 2.5D and 3D packaging\nand co-packaged optics.\u201d\n\n**Date of PMT:** Oct. 17\n\n**Date of Final Award:** Jan. 17, 2025\n\n##  Infinera\n\n**Location:** San Jose, CA\n\n**Incentive Amount:** $93 million across both projects\n\n**Project Type:** New Fab\n\n**Technology:** Indium Phosphide Photonics\n\n[ Commerce Press Release ](https://www.nist.gov/news-events/news/2025/01/us-\ndepartment-commerce-announces-chips-incentives-awards-corning-edwards)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/infinera-\ncalifornia-san-jose) \u201cConstruct a new, modernized fab and foundry with over\n40,000 square feet of cleanroom space to increase its InP PIC manufacturing to\nmeet future capacity and capability demands. The projects would allow Infinera\nto increase the domestic fabrication and advanced test and packaging of InP\nPICs for the Department of Defense, Intelligence Community, law enforcement,\nand national security agencies for secure communications and emerging\ntechnologies such as quantum technology, sensing, and LiDAR.\u201d\n\n**Date of PMT:** Oct. 17\n\n**Date of Final Award:** Jan. 17, 2025\n\n##  Wolfspeed\n\n**Location:** Siler City, NC\n\n**Incentive Amount:** $750 million across both projects\n\n**Project Type:** New Fab\n\n**Technology:** Silicon Carbide\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/10/biden-harris-administration-announces-preliminary-terms-\nwolfspeed-solidify)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed funding would support the construction of a new silicon carbide\nwafer manufacturing facility in Siler City, North Carolina, helping to secure\na reliable domestic supply of the semiconductors that will underpin the future\nenergy economy and AI boom. This new, 2-million-square-foot facility would\nbecome the United States\u2019 largest silicon carbide wafer manufacturing facility\nand the world\u2019s first high-volume 200mm silicon carbide wafer manufacturing\nfacility.\u201d\n\n**Date of PMT:** Oct. 15\n\n##  Wolfspeed\n\n**Location:** Marcy, NY\n\n**Incentive Amount:** $750 million across both projects\n\n**Project Type:** Fab expansion\n\n**Technology:** Silicon Carbide\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/10/biden-harris-administration-announces-preliminary-terms-\nwolfspeed-solidify)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed investment would contribute to the growth of the manufacturing\nfacility as the world\u2019s first fully automated 200mm silicon carbide power\ndevice fab and increase its production capacity by approximately 30%. This fab\nis qualified to serve both automotive and industrial and energy customers.\u201d\n\n**Date of PMT:** Oct. 15\n\n##  Edwards Vacuum\n\n**Location:** Basom, NY\n\n**Incentive Amount:** $18 million\n\n**Project Type:** New Facility\n\n**Technology:** Equipment \u2013 dry vacuum pumps\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/10/biden-harris-administration-announces-preliminary-terms-\nedwards-vacuum)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThis proposed funding would support the construction of a greenfield state-\nof-the-art manufacturing facility in Genesee County, New York, which the\ncompany first announced in 2022. The facility will produce the dry vacuum\npumps, which are needed for semiconductor production, and is estimated to\ncreate approximately 600 good-paying jobs. Currently, there is no domestic\nproduction of semiconductor-grade dry vacuum pumps. These pumps are essential\nfor both advanced and legacy semiconductor fabrication: Installed beneath the\nfab, they maintain the chamber environment where wafers are processed by\nevacuating toxic fumes and chemicals.\u201d\n\n**Date of PMT:** Oct. 10\n\n##  HP\n\n**Location:** Corvallis, OR\n\n**Incentive Amount:** $50 million\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** Mature-node\n\n[ Commerce Press Release ](https://nist.gov/news-events/news/2025/01/biden-\nharris-administration-announces-chips-incentives-award-hp-support)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/hp-inc-oregon-\ncorvallis) \u201cThe CHIPS for America award will provide HP up to $53 million in\ntotal direct funding under the CHIPS and Science Act to support the expansion\nand modernization of HP\u2019s existing facility in Corvallis, Oregon, which is\npart of the company\u2019s \u201clab-to-fab\u201d ecosystem in the region that spans from\nresearch and development (\u201cR&D\u201d) activities to commercial manufacturing\noperations.\u201d\n\n**Date of PMT:** Aug. 27, 2024\n\n**Date of Final Award:** Jan. 13, 2025\n\n##  Texas Instruments\n\n**Location:** Sherman, TX\n\n**Incentive Amount:** $900 million\n\n**Project Size:** $18 billion across 2 locations\n\n**Project Type:** 2 new fabs\n\n**Technology:** Current generation and mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/08/biden-harris-administration-announces-preliminary-terms-\ntexas-instruments)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates) \u201c\nConstruction of two new, large-scale 300-mm fabrication facilities that are\nexpected to produce 65nm \u2013 130nm essential chips, with anticipated production\ncapacity of more than one hundred million chips every day. The Sherman site is\none of the only greenfield production sites for chips on 300-mm wafers in the\nU.S.  \u201d\n\n**Date of PMT:** Aug. 16\n\n**Date of Final Award:** Dec. 20\n\n##  Texas Instruments\n\n**Location:** Lehi, UT\n\n**Incentive Amount:** $700 million\n\n**Project Size:** $18 billion across 2 locations\n\n**Project Type:** New fab\n\n**Technology:** Current generation and mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/08/biden-harris-administration-announces-preliminary-terms-\ntexas-instruments)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates) \u201c\nConstruction of a new, large-scale 300-mm fabrication facility to produce 28nm\n\u2013 65nm analog and embedded processing chips, which is anticipated to produce\ntens of millions of chips every day. This project represents the largest\neconomic investment in Utah\u2019s history.  \u201d\n\n**Date of PMT:** Aug. 16\n\n**Date of Final Award:** Dec. 20\n\n##  SK hynix\n\n**Location:** West Lafayette, IN\n\n**Incentive Amount:** $458 million in grants, $500 million in loans\n\n**Project Size:** $3.87 billion\n\n**Project Type:** New Facility\n\n**Technology:** Advanced Packaging and R&D\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announces-chips-incentives-\naward-sk-hynix)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed CHIPS investment would support SK\u2019s West Lafayette facility at\nthe Purdue University Research Park, which will be home to an advanced\nsemiconductor packaging line that will mass-produce next generation HBM, the\nhighest performance memory chips, that are crucial components of Graphics\nProcessing Units (GPUs) that train AI systems.Mass production at the facility\nis expected to begin in the second half of 2028.SK hynix will collaborate with\nPurdue University on plans for future R&D projects, which include working on\nadvanced packaging and heterogenous integration with Purdue\u2019s Birck\nNanotechnology Center and other research and institutes and industry\npartners.The next generation HBM that will be researched and developed, and\nmass-produced, and packaged in this ecosystem with Purdue University will play\nan important role in the U.S. semiconductor ecosystem and advancing U.S.\ntechnological leadership.\u201d\n\n**Date of PMT:** Aug. 6\n\n**Final Award:** Dec. 19\n\n##  Amkor\n\n**Location:** Peoria, AZ\n\n**Incentive Amount:** $400 million\n\n**Project Size:** $1.7 billion\n\n**Project Type:** New Facility\n\n**Technology:** Advanced Packaging and Test\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/07/biden-harris-administration-announces-preliminary-terms-\namkor-technology)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThis proposed funding would support Amkor\u2019s investment of approximately $2\nbillion and 2,000 jobs in a greenfield project in Peoria, Arizona, which will\nprovide full end-to-end advanced packaging for the world\u2019s most advanced\nsemiconductors for applications in high-performance computing, artificial\nintelligence, communications, and automotive, end markets. Amkor\u2019s use of 2.5D\ntechnology is foundational for meeting the rapidly increasing demand for\ngenerative AI products and services as it is the final step in the\nmanufacturing of graphic processing units (\u201cGPUs\u201d) for high-performance\ncomputing applications and other AI chips. When fully operational, Amkor will\npackage and test millions of leading-edge chips serving autonomous vehicles,\n5G/6G smartphones, and large-scale datacenters across a range of customers.\u201d\n\n**Date of PMT:** July 26\n\n**Date of Final Award:** Dec. 20\n\n##  GlobalWafers\n\n**Location:** Sherman, TX\n\n**Incentive Amount:** $380 million\n\n**Project Size:** $4 billion across all projects\n\n**Project Type:** New Facility, Expansion\n\n**Technology:** Wafers\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announces-chips-incentives-\nawards-globalwafers)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/globalwafers-texas-\nsherman) \u201cEstablish the first 300mm silicon wafer manufacturing facility for\nadvanced chips in the United States. Of note, 300mm silicon wafers are a key\ninput used by foundries and integrated device manufacturers to manufacture\nleading-edge, mature-node, and memory chips. [\u2026] GlobalWafers plans to convert\na portion of its existing silicon epitaxy wafer manufacturing facility in\nSherman, Texas to silicon carbide (\u201cSiC\u201d) epitaxy wafer manufacturing,\nproducing 150mm and 200mm SiC epitaxy wafers. SiC epitaxy wafers are a\ncritical component for high-voltage applications, notably including electric\nvehicles and clean energy infrastructure.\u201d\n\n**Date of PMT:** July 17\n\n**Final Award:** Dec. 17\n\n##  GlobalWafers\n\n**Location:** St. Peters, MO\n\n**Incentive Amount:** $20 million\n\n**Project Size:** $4 billion across all projects\n\n**Project Type:** New Facility\n\n**Technology:** Wafers\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announces-chips-incentives-\nawards-globalwafers)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/globalwafers-\nmissouri-st-peters) \u201cEstablish a new facility to produce 300mm silicon-on-\ninsulator (\u201cSOI\u201d) wafers. Importantly, SOI wafers allow for significantly\nimproved performance in harsh environments and are commonly used in defense\nand aerospace end uses.\u201d\n\n**Date of PMT:** July 1\n\n**Final Award** : Dec. 17\n\n##  Rogue Valley Microdevices\n\n**Location:** Palm Bay, FL\n\n**Incentive Amount:** $6.7 million\n\n**Project Size:** $25 million\n\n**Project Type:** New Facility\n\n**Technology:** MEMS (mature-node)\n\n[ Commerce Press Release ](https://www.nist.gov/news-events/news/2024/07/us-\ndepartment-commerce-announces-preliminary-terms-rogue-valley)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed CHIPS investment would support the construction of RVM\u2019s pure\nplay microelectromechanical systems (MEMS) and sensor foundry facility in Palm\nBay, Florida, and is estimated to nearly triple RVM\u2019s manufacturing capacity.\nMEMS are microscale devices that integrate electrical and mechanical\ncomponents; their integration with semiconductor components across a wide\nrange of applications enables technology advancements and improved\nperformance. RVM is one of the only U.S.-based pure play MEMS foundries which\nspecializes in the high-mix, low-volume wafer and MEMS foundry services that\nare important to the defense industrial base and to the biomedical industry.\nWith this proposed investment, the Biden-Harris Administration would be\nsupporting a reliable, domestic supply of MEMS devices manufactured on 300mm\nwafers, further strengthening U.S. supply chain resilience while creating over\n75 jobs in the state of Florida.\u201d\n\n**Date of PMT:** July 1\n\n##  Entegris\n\n**Location:** Colorado Springs, CO\n\n**Incentive Amount:** $77 million\n\n**Project Size:** $722 million\n\n**Project Type:** New Facility\n\n**Technology:** Equipment and Materials\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/06/biden-harris-administration-announces-preliminary-terms-\nentegris-onshore)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed CHIPS investment would support Entegris\u2019 construction of its\nstate-of-the-art manufacturing center in Colorado Springs. The center is being\nbuilt in multiple phases: the first to support production of FOUPs\u2014which are\ncurrently entirely produced abroad\u2014and liquid filter membranes, and the second\nphase to support the production of advanced liquid filters and purifiers as\nwell as fluid handling solutions. Entegris is a leading supplier of advanced\nmaterials and process solutions for the semiconductor and other high-\ntechnology industries. Notably, the company invented the Front Opening Unified\nPods (FOUPs), which are the highly specialized containers that secure\nsemiconductor wafers while they are handled and transported during the\nmanufacturing process. The proposed investment would create nearly 600 direct\nmanufacturing jobs over a period of several years and approximately 500\nconstruction jobs by 2030.\u201d\n\n**Date of PMT:** June 26\n\n**Date of Final Award** : December 5\n\n##  SolAero (Rocket Lab)\n\n**Location:** Albuquerque, NM\n\n**Incentive Amount:** $23.9 million\n\n**Project Size:** Not Available\n\n**Project Type:** Modernization, Expansion\n\n**Technology:** Mature-Node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-chips-incentives-\nawards-bae-systems)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/rocket-lab-new-\nmexico-albuquerque) \u201cThe proposed CHIPS investment would help create a more\nrobust and resilient supply of space-grade solar cells that power spacecrafts\nand satellites. The modernization and expansion project would increase Rocket\nLab\u2019s compound semiconductor production by 50% within the next three years \u2013\nhelping to meet the growing national security and commercial demand for these\nsolar cells in the United States. Rocket Lab is one of two companies in the\nUnited States that specialize in the production of highly efficient and\nradiation resistant compound semiconductors called space-grade solar cells \u2013\ndevices used in space to convert light to electricity. The proposed investment\nwould create over 100 direct manufacturing jobs.\u201d\n\n**Date of PMT:** June 11\n\n**Date of Final Award** : Nov. 25\n\n##  Absolics\n\n**Location:** Covington, GA\n\n**Incentive Amount:** $75 million\n\n**Project Size:** $343 million\n\n**Project Type:** New Facility\n\n**Technology:** Materials for Advanced Packaging\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/05/biden-harris-administration-announces-preliminary-terms-\nabsolics-support)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe proposed CHIPS investment would support the construction of a 120,000\nsquare-foot facility in Covington, Georgia and the development of substrates\ntechnology for use in semiconductor advanced packaging. Absolics glass\nsubstrates will be used as an important advanced packaging technology to\nincrease the performance of leading-edge chips for AI, high-performance\ncompute and data centers by reducing power consumption and system complexity.\nThe glass substrates produced by Absolics enable smaller, more densely packed,\nand shorter length connections resulting in faster and more energy efficient\ncomputing. This proposed investment would support over an estimated 1,000\nconstruction jobs and approximately 200 manufacturing and R&D jobs in\nCovington and enhance innovation capacity at Georgia Institute of Technology\n(Georgia Tech), supporting the local semiconductor talent pipeline.\u201d\n\n**Date of PMT:** May 23\n\n**Date of Final Award** : December 5\n\n##  Polar Semiconductor\n\n**Location:** Bloomington, MN\n\n**Incentive Amount:** $123 million\n\n**Project Size:** $525 million\n\n**Project Type:** Expansion, Modernization\n\n**Technology:** Mature-Node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/09/biden-harris-administration-announces-first-chips-\ncommercial-fabrication)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/polar-\nsemiconductor-minnesota-bloomington) \u201cThis proposed funding would catalyze\ninvestment from private and state sources to expand Polar\u2019s manufacturing\nfacility and introduce new technology capabilities in Bloomington, Minnesota.\nThe expansion and modernization would enable Polar to double its U.S.\nproduction capacity of sensor and power chips within two years. Additionally,\nthis proposed investment would bring in more U.S. private capital, which would\ntransform Polar from a majority foreign-owned in-house manufacturer to a\nmajority U.S.-owned commercial foundry, expanding opportunities for U.S. chip\ndesigners to innovate and produce technologies domestically.\u201d\n\n**Date of PMT:** May 13\n\n**Date of Final Award:** Sept. 24\n\n##  Micron\n\n**Location:** Clay, NY\n\n**Incentive Amount:** $4.6 billion\n\n**Project Size:** $100 billion\n\n**Project Type:** 4 new fabs\n\n**Technology:** Leading-edge DRAM\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/department-commerce-awards-chips-incentives-micron-idaho-\nand-new-york)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/micron-new-york-\nclay) \u201cConstruct first two fabs of planned four fab \u201cmegafab\u201d focused on\nleading-edge DRAM chip production. Each fab will have 600,000 square feet of\ncleanrooms, totaling 2.4 million square feet of cleanroom space across the\nfour facilities\u2014the largest amount of cleanroom space ever announced in the\nUnited States and the size of nearly 40 football fields.\u201d\n\n**Date of PMT:** April 25\n\n**Date of Final Award** **:** Dec. 10\n\n##  Micron\n\n**Location:** Boise, ID\n\n**Incentive Amount:** $1.5 billion\n\n**Project Size:** $25 billion\n\n**Project Type:** 1 new fab\n\n**Technology:** Leading-edge DRAM\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/department-commerce-awards-chips-incentives-micron-idaho-\nand-new-york)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/micron-idaho-boise)\n\u201cDevelop a high-volume manufacturing (HVM) fab, with approximately 600,000\nsquare feet of cleanroom space focused on the production of leading-edge DRAM\nchips. The fab would be co-located with the company\u2019s R&D facility to improve\nefficiency across their R&D and manufacturing operations, reducing lags in\ntechnology transfer and cutting time-to-market for leading-edge memory\nproducts.\u201d\n\n**Date of PMT:** April 25\n\n**Date of Final Award** **:** Dec. 10\n\n##  Samsung\n\n**Location:** Taylor, TX\n\n**Incentive Amount:** Across all Samsung projects, $6.4 billion in grants\n\n**Project Size:** $45 billion across all projects\n\n**Project Type:** 2 new logic fabs, 1 new R&D fab\n\n**Technology:** Leading-edge, advanced packaging\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announces-chips-incentives-\naward-samsung)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cConstruct a comprehensive advanced manufacturing ecosystem, ranging from\nleading-edge logic to advanced packaging to R&D, transforming the small\nmunicipality of Taylor into an expansive hub of leading-edge semiconductor\nmanufacturing. This ecosystem **** would include two leading-edge logic\nfoundry fabs focused on mass production of 4nm and 2nm process technologies,\nan R&D fab dedicated to development and research on technology generations\nahead of nodes currently in production, and an advanced packaging facility\nproducing 3D High Bandwidth Memory and 2.5D packaging, both of which have\ncritical artificial intelligence applications. The semiconductors that are\ndesigned and manufactured in this ecosystem would serve a wide variety of end\nmarkets \u2013 from communications, automotive, and defense industries to high-\nperformance computing and artificial intelligence.\u201d\n\n**Date of PMT:** April 15\n\n**Date of Final Award** **:** Dec. 20\n\n##  Samsung\n\n**Location:** Austin, TX\n\n**Incentive Amount:** $4.745 billion across 2 locations\n\n**Project Size:** $37 billion across 2 locations\n\n**Project Type:** Facility expansion\n\n**Technology:** Mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/12/biden-harris-administration-announces-chips-incentives-\naward-samsung)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cExpand a facility that has been an economic engine for Central Texas for\nnearly 30 years. This proposed investment would expand the existing facilities\nto support the production of leading fully depleted silicon-on-insulator (FD-\nSOI) process technologies for critical U.S. industries, including aerospace,\ndefense, and automotive. This proposed investment also includes commitments to\ncollaborate with the U.S. Department of Defense.\u201d\n\n**Date of PMT:** April 15\n\n**Date of Final Award** **:** Dec. 20\n\n##  TSMC\n\n**Location:** Phoenix, AZ\n\n**Incentive Amount:** $6.6 billion in grants, $5 billion in loans\n\n**Project Size:** $65 billion\n\n**Project Type:** 3 new fabs\n\n**Technology:** Leading-edge\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-chips-incentives-\naward-tsmc-arizona)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/tsmc-arizona-\nphoenix) \u201cIn Arizona, TSMC\u2019s three fabs are expected to bring a suite of the\nmost advanced process node technologies to the United States: the first fab\nwill produce 4nm FinFET process technologies; today, TSMC Arizona announced\nthat the second fab will produce the world\u2019s most advanced 2nm nanosheet\nprocess technology, in addition to previously announced plans to produce 3nm\nprocess technologies; and TSMC Arizona\u2019s third fab will produce 2nm or more\nadvanced process technologies depending on customer demand. At full capacity,\nTSMC Arizona\u2019s three fabs would manufacture tens of millions of leading-edge\nchips that will power products like 5G/6G smartphones, autonomous vehicles,\nand AI datacenter servers. TSMC Arizona expects to begin high-volume\nproduction in their first fab in the U.S. by the first half of 2025.\u201d\n\n**Date of PMT:** April 8\n\n**Date of Final Award:** Nov. 15\n\n##  Intel\n\n**Location:** Chandler, AZ\n\n**Incentive Amount:** $3.94 billion\n\n**Project Size:** $32 billion\n\n**Project Type:** 2 new fabs, 1 modernization\n\n**Technology:** Leading-edge\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/03/biden-harris-administration-announces-preliminary-terms-\nintel-support)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe CHIPS for America award will support the construction of two new leading-\nedge logic fabs and modernization of one existing fab, significantly\nincreasing leading-edge logic capacity, including high volume domestic\nproduction of Intel 18A \u2013 the company\u2019s most advanced chip design that enables\nhigher performing, leading-edge chips through RibbonFET gate-all-around\ntransistors and PowerVia backside power delivery.\u201d\n\n**Date of PMT:** March 20\n\n**Date of Final Award:** Nov. 26\n\n##  Intel\n\n**Location:** New Albany, OH\n\n**Incentive Amount:** $1.5 billion\n\n**Project Size:** $28 billion\n\n**Project Type:** 2 new fabs\n\n**Technology:** Leading-edge\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/03/biden-harris-administration-announces-preliminary-terms-\nintel-support)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe CHIPS for America award will support the creation of a new regional\nchipmaking ecosystem, anchored by a new leading-edge logic fab which will\nproduce the Intel 14A node and other future Intel nodes and expand leading-\nedge foundry capacity.\u201d\n\n**Date of PMT:** March 20\n\n**Date of Final Award:** Nov. 26\n\n##  Intel\n\n**Location:** Rio Rancho, NM\n\n**Incentive Amount:** $500 million\n\n**Project Size:** $4 billion\n\n**Project Type:** 2 modernizations\n\n**Technology:** Advanced Packaging\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/03/biden-harris-administration-announces-preliminary-terms-\nintel-support)\n\n[ SIA Statement ](https://www.semiconductors.org/sia-applauds-chips-act-\nincentives-for-intel-projects/)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe CHIPS for America award will support the modernization of two existing\nfabs into an advanced packaging facility to close an important gap in the\ndomestic semiconductor supply chain.\u201d\n\n**Date of PMT:** March 20\n\n**Date of Final Award:** Nov. 26\n\n##  Intel\n\n**Location:** Hillsboro, OR\n\n**Incentive Amount:** $1.86 billion\n\n**Project Size:** $36 billion\n\n**Project Type:** Modernization, Expansion\n\n**Technology:** R&D, leading-edge\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/03/biden-harris-administration-announces-preliminary-terms-\nintel-support)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\n\u201cThe CHIPS for America award will support the investment in the premier hub of\nleading-edge research and development in the United States through the\nexpansion and modernization of technology development facilities that will\nutilize the world\u2019s first commercial High-NA EUV lithography equipment.\u201d\n\n**Date of PMT:** March 20\n\n**Date of Final Award:** Nov. 26\n\n##  GlobalFoundries\n\n**Location:** Malta, NY\n\n**Incentive Amount:** $1.45 billion\n\n**Project Size:** $13.1 billion\n\n**Project Type:** New facility and facility expansion\n\n**Technology:** Current-generation, mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-chips-incentives-\naward)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/globalfoundries-\nnew-york-malta) \u201cThe construction of a new, large-scale 300 mm fabrication\nfacility that is expected to produce high value technologies not currently\navailable in the U.S. The new facility is intended to leverage existing\ninfrastructure to expedite the path from construction to production. The\nproposed expansion of the existing Malta, New York fabrication facility, which\nincludes a strategic agreement with General Motors, to secure a dedicated\nsupply of essential semiconductor technologies. This project would also\nsupport America\u2019s economic and national security by expanding domestic\ncapacity for semiconductors that are used in the U.S. critical infrastructure\nbase. This expansion, combined with the new 300 mm fabrication facility, is\nexpected to triple the existing capacity of the Malta campus over the next 10+\nyears. These two projects are expected to increase wafer production to 1\nmillion per year once all phases are complete.\u201d\n\n**Date of PMT:** Feb. 19\n\n**Date of Final Award:** Nov. 20\n\n##  GlobalFoundries\n\n**Location:** Essex Junction, VT\n\n**Incentive Amount:** $125 million\n\n**Project Size:** $900 million\n\n**Project Type:** Revitalization\n\n**Technology:** Mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-chips-incentives-\naward)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/globalfoundries-\nvermont-burlington) \u201cThe revitalization of an existing fabrication facility in\nBurlington, Vermont, to commercialize new 200 mm technologies, creating the\nfirst U.S. facility capable of high-volume manufacturing of next-generation\nGallium Nitride on Silicon for use in electric vehicles, power grid, 5G and 6G\nsmartphones, and other critical technologies. The site will apply industry-\nleading sustainability practices, including the use of 100% carbon-neutral\nenergy and the development of an onsite solar system to supply up to 9% of the\nsite\u2019s annual energy.\u201d\n\n**Date of PMT:** Feb. 19\n\n**Date of Final Award:** Nov. 20\n\n##  Microchip Technology\n\n**Location:** Colorado Springs, CO\n\n**Incentive Amount:** $90 million\n\n**Project Type:** Modernization and Expansion\n\n**Technology:** Mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/01/biden-harris-administration-announces-chips-preliminary-\nterms-microchip)\n\n[ SIA Statement ](https://www.semiconductors.org/sia-applauds-announcement-of-\nnew-chips-incentives/)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\nAlongside an award to Microchip\u2019s facility in Gresham, OR, \u201cthis investment\nwould enable Microchip to significantly increase its U.S. production of\nmicrocontroller units (MCUs) and other specialty semiconductors built on\nmature-nodes critical to America\u2019s automotive, commercial, industrial,\ndefense, and aerospace industries and create over 700 direct construction and\nmanufacturing jobs. The projects are estimated to nearly triple the share of\nsemiconductors the company produces at these sites, decreasing its reliance on\nforeign foundries and strengthening supply chain resilience.\u201d\n\n**Date of PMT:** Jan. 4\n\n##  Microchip Technology\n\n**Location:** Gresham, OR\n\n**Incentive Amount:** $72 million\n\n**Project Type:** Modernization\n\n**Technology:** Mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/01/biden-harris-administration-announces-chips-preliminary-\nterms-microchip)\n\n[ SIA Statement ](https://www.semiconductors.org/sia-applauds-announcement-of-\nnew-chips-incentives/)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/funding-updates)\nAlongside an award to Microchip\u2019s facility in Colorado Springs, CO, \u201cthis\ninvestment would enable Microchip to significantly increase its U.S.\nproduction of microcontroller units (MCUs) and other specialty semiconductors\nbuilt on mature-nodes critical to America\u2019s automotive, commercial,\nindustrial, defense, and aerospace industries and create over 700 direct\nconstruction and manufacturing jobs. The projects are estimated to nearly\ntriple the share of semiconductors the company produces at these sites,\ndecreasing its reliance on foreign foundries and strengthening supply chain\nresilience.\u201d\n\n**Date of PMT:** Jan. 4\n\n##  BAE Systems\n\n**Location:** Nashua, NH\n\n**Incentive Amount:** $35 million\n\n**Project Type:** Modernization\n\n**Technology:** Mature-node\n\n[ Commerce Press Release ](https://www.nist.gov/news-\nevents/news/2024/11/biden-harris-administration-announces-chips-incentives-\nawards-bae-systems)\n\n[ **Additional Information:** ](https://www.nist.gov/chips/bae-systems-inc-\nnew-hampshire-nashua) \u201cThese incentives will support the modernization of the\ncompany\u2019s Microelectronics Center, a mature-node facility in Nashua, New\nHampshire. This modernization project will replace aging tools and quadruple\nthe production of chips necessary for critical defense programs, including the\n$1.7 trillion F-35 fighter jet program.\u201d\n\n**Date of PMT:** Dec. 11, 2023\n\n**Date of Final Award:** Nov. 25, 2024\n\n[ ](/)\n\n1101 K Street NW Suite 450, Washington, DC 20005  \n[ E-mail ](mailto:info@semiconductors.org)\n\n  * [ ](https://www.facebook.com/SIAAmerica)\n  * [ ](https://twitter.com/siaamerica)\n  * [ ](https://www.youtube.com/user/SIAAmerica)\n  * [ ](https://www.linkedin.com/company/semiconductor-industry-association/)\n  * \n\n  * [ Sign up for SIA News ](/sia-news/)\n\n* * *\n\n\u00a9 2025 Semiconductor Industry Association. All Rights Reserved.\n\n  * [ Privacy Policy ](/privacy-policy/)\n\n",
                "url": "https://www.semiconductors.org/chip-supply-chain-investments/"
            },
            "reason": "This page from the Semiconductor Industry Association discusses chip supply chain investments, which is directly related to the value chain in the semiconductor industry. The SIA is a reputable industry association.",
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            "search_query": "company 'N/A' activities value chain",
            "summary": "This page from the Semiconductor Industry Association discusses chip supply chain investments, which is directly related to the value chain in the semiconductor industry. The SIA is a reputable industry association.",
            "url": "https://www.semiconductors.org/chip-supply-chain-investments/"
        },
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                    "source": "https://www.fvtc.edu/courses/business-management-finance/business-management/10-182-1/supply-chain-management"
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                "url": "https://www.fvtc.edu/courses/business-management-finance/business-management/10-182-1/supply-chain-management"
            },
            "reason": "This page describes a Supply Chain Management course at Fox Valley Technical College. It is related to the value chain concept, but it is an educational resource rather than a direct analysis of a company's value chain activities.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' activities value chain",
            "summary": "This page describes a Supply Chain Management course at Fox Valley Technical College. It is related to the value chain concept, but it is an educational resource rather than a direct analysis of a company's value chain activities.",
            "url": "https://www.fvtc.edu/courses/business-management-finance/business-management/10-182-1/supply-chain-management"
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                    "source": "https://www.sciencedirect.com/science/article/pii/S0148296323003636"
                },
                "page_content": "Skip to main content\n\n#  Are you a robot?\n\nPlease confirm you are a human by completing the captcha challenge below.\n\nEnable JavaScript and cookies to continue\n\n  * **Reference number:** 9355f622ab53d400 \n  * **IP Address:** 34.96.35.11 \n  *   * \n\n[ ](https://www.elsevier.com/)\n\n  * [ About ScienceDirect  ](https://www.elsevier.com/solutions/sciencedirect)\n  * [ Remote access  ](/user/institution/login?targetURL=%2F)\n  * [ Shopping cart  ](https://science-direct-checkout.staging.ecommerce.elsevier.com/?)\n  * [ Advertise  ](https://www.elsmediakits.com)\n  * [ Contact and support  ](https://service.elsevier.com/app/contact/supporthub/sciencedirect/)\n  * [ Terms and conditions  ](https://www.elsevier.com/legal/elsevier-website-terms-and-conditions)\n  * [ Privacy policy  ](https://www.elsevier.com/legal/privacy-policy)\n\nCookies are used by this site.\n\nAll content on this site: Copyright \u00a9 2024 Elsevier B.V., its licensors, and\ncontributors. All rights are reserved, including those for text and data\nmining, AI training, and similar technologies. For all open access content,\nthe relevant licensing terms apply.\n\n[ ](https://www.relx.com/)\n\n",
                "url": "https://www.sciencedirect.com/science/article/pii/S0148296323003636"
            },
            "reason": "This is a scientific article from ScienceDirect, a reputable academic database. The content is peer-reviewed and likely to be accurate and well-researched. It is related to the value chain concept.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' activities value chain",
            "summary": "This is a scientific article from ScienceDirect, a reputable academic database. The content is peer-reviewed and likely to be accurate and well-researched. It is related to the value chain concept.",
            "url": "https://www.sciencedirect.com/science/article/pii/S0148296323003636"
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                    "resource_type": "webpage",
                    "source": "https://www.onetrust.com/index/"
                },
                "page_content": "Skip to main content\n\n[ ](/index/)\n\nSolutions\n\n  * Solutions \n\n    * [ Consent & Preferences  Streamline consent and preference management for consumer transparency  ](/content/onetrust/us/en/solutions/consent-and-preferences)\n\n    * [ Third-Party Management  Automate third-party management from intake and risk assessment to mitigation and reporting  ](/content/onetrust/us/en/solutions/third-party-management)\n\n  *     * [ Privacy Automation  Enable responsible use throughout the data lifecycle  ](/content/onetrust/us/en/solutions/privacy-automation)\n\n    * [ Tech Risk & Compliance  Scale your resources and optimize your risk and compliance lifecycle  ](/content/onetrust/us/en/solutions/tech-risk-and-compliance)\n\n  *     * [ Data & AI Governance  Govern your data and AI while accelerating innovation  ](/content/onetrust/us/en/solutions/data-and-ai-governance)\n\n  * Featured Products \n\n    * [ AI Governance  ](/content/onetrust/us/en/products/ai-governance)\n\n    * [ Data Discovery & Classification  ](/content/onetrust/us/en/products/data-discovery)\n\n    * [ Third-Party Risk Management  ](/content/onetrust/us/en/products/third-party-risk-management)\n\n[ View all products ](/content/onetrust/us/en/products)\n\n  * Regulatory Solutions \n\n    * [ GDPR  ](/content/onetrust/us/en/solutions/gdpr-compliance)\n\n    * [ DORA  ](/content/onetrust/us/en/solutions/digital-operational-resilience-act-dora-compliance)\n\n    * [ EU AI Act  ](/content/onetrust/us/en/solutions/eu-ai-act-compliance)\n\n[ View all regulatory solutions ](/content/onetrust/language-\nmasters/en/solutions#regulations)\n\nPlatform\n\n  * OneTrust Platform \n\n    * [ Platform Overview  Build and demonstrate trust, measure and manage risk, and go beyond compliance  ](/content/onetrust/us/en/platform)\n\n  *     * [ Pricing  Explore our scalable packages designed to help you collect, govern, and use your data with complete visibility and control  ](/content/onetrust/us/en/pricing)\n\n  *     * [ Integrations  Our extensive set of integrations makes it easy to add data management to your workflows  ](/content/onetrust/us/en/integrations)\n\nResources\n\n  * Self-Service Resources \n\n    * [ Demo Videos  ](/content/onetrust/us/en/resources/onetrust-demos)\n\n    * [ Resource Library  ](/content/onetrust/us/en/resources)\n\n    * [ Customer Stories  ](/content/onetrust/us/en/customers)\n\n    * [ Blog  ](/content/onetrust/us/en/blog)\n\n  * Training & Events \n\n    * [ Training & Certifications  ](/content/onetrust/us/en/certifications)\n\n    * [ TrustWeek  ](/content/onetrust/us/en/trustweek)\n\n    * [ Connect Workshops  ](https://privacyconnect.com/)\n\n  * Support \n\n    * [ Support & Services  ](/content/onetrust/us/en/services)\n\n    * [ Partners  ](/content/onetrust/us/en/partners)\n\n    * [ MyOneTrust Help Center  ](https://my.onetrust.com/s/topiccatalog)\n\nCompany\n\n  * Company \n\n    * [ About Us  ](/content/onetrust/us/en/about-us)\n\n    * [ Trust Center  ](/content/onetrust/us/en/trust)\n\n    * [ Careers  ](/content/onetrust/us/en/careers)\n\n    * [ Newsroom  ](/content/onetrust/us/en/news)\n\n    * [ Contact Us  ](/content/onetrust/us/en/forms/contact-us)\n\n  * Newsroom \n\n[ Get the latest news, announcements, views, and more\n](/content/onetrust/us/en/news)\n\n[ __ Request demo  __ ](/forms/demo/)\n\n[ __ Contact sales  __ ](/forms/get-started/)\n\n__\n\nOn-demand webinar coming soon...\n\n#  You can\u2019t scale privacy without AI\n\nGovern well. Move fast. AI makes both possible.\n\n[ __ Learn more  __ ](/scale-privacy-with-ai/)\n\nSee OneTrust in action: On-demand demo\n\nExplore how OneTrust can help you use data and AI responsibly with our\nplatform demo videos.\n\n[ __ Watch now  __ ](/resources/onetrust-demos/)\n\n14,000+ customers, large and small, rely on OneTrust\n\n##  Use data & AI responsibly\n\nWe help you streamline risk management, enforce compliance, and optimize data\nstrategies for innovation \u2014 all while meeting regulatory and customer demands.\n\n#  Transparently collect data\n\nEmpower your teams to collect data with purposeful consent, ensuring\ncompliance and alignment with your first-party data strategy.\n\n####  Manage risk holistically\n\nSafeguard your data from risks, including privacy concerns, IT\nvulnerabilities, and third-party data sharing, ensuring robust protection\nacross all areas.\n\n####  Enforce policies and controls\n\nMaximize the value of your data and AI by ensuring responsible use that aligns\nwith your organization's policies and regulatory standards.\n\n[ __ Explore the platform  __ ](/platform/)\n\n##  Explore the solutions that make it all possible\n\nOneTrust offers a unified platform that fosters innovation while providing\nend-to-end data management. See how we can help your team solve today\u2019s\nbiggest challenges.\n\nConsent & Preferences\n\nStreamline consent and preference management for consumer transparency.\n\n[ __ Learn more  __ ](/solutions/consent-and-preferences/)\n\nPrivacy Automation\n\nSimplify compliance, improve operational efficiency, and enable risk-informed\ndecisions.\n\n[ __ Learn more  __ ](/solutions/privacy-automation/)\n\nThird-Party Management\n\nAutomate third-party management from intake to risk assessment, mitigation,\nongoing monitoring, and reporting.\n\n[ __ Learn more  __ ](/solutions/third-party-management/)\n\nTech Risk & Compliance\n\nScale your resources and optimize your risk and compliance lifecycle.\n\n[ __ Learn more  __ ](/solutions/tech-risk-and-compliance/)\n\nData & AI Governance\n\nGovern your data and AI effectively while accelerating innovation and reducing\ndata risk.\n\n[ __ Learn more  __ ](/solutions/data-and-ai-governance/)\n\n#  Integrations\n\nOneTrust offers the industry\u2019s broadest and deepest set of integrations,\nmaking it easy to add data management to your existing application workflows.\n\n* * *\n\n* * *\n\n[ __ Explore our integrations  __ ](/integrations/)\n\n#  See what the experts have to say\n\nOneTrust named a Leader in The Forrester Wave\u2122: Privacy Management Software,\nQ4 2023\n\n[ __ Read more  __ ](/resources/the-forrester-wave-privacy-management-\nsoftware-q4-2023-report/)\n\n2024 Forrester Consulting Total Economic Impact\u2122 study\n\n[ __ Read more  __ ](/resources/discover-the-economic-benefits-of-onetrust-\nreport/)\n\nGetting Ready for the EU AI Act, Phase 1: Discover & Catalog, The Gartner\u00ae\nReport\u200b\n\n[ __ Read more  __ ](/resources/getting-ready-for-the-eu-ai-act-\nphase-1-discover-and-catalog-the-gartner-report/)\n\n14,000+\n\nActive Customers\n\n75\n\nOf The Fortune 100\n\n2,000+\n\nEmployees\n\n300+  \n\nPatents\n\n#  In the spotlight\n\nUnderstanding DORA: Implications for Third-Party Risk Management\n\nLearn more about the Act in this guide and how OneTrust can help.\n\n[ __ Download eBook  __ ](/resources/understanding-dora-implications-of-the-\ndigital-operational-resilience-act-for-third-party-risk-management-ebook/)\n\nOneTrust data privacy maturity self-assessment\n\nGauge the maturity of your privacy program and identify areas of improvement\nto further mature your privacy operations.\n\n[ __ Access assessment  __ ](/resources/onetrust-data-privacy-maturity-self-\nassessment/)\n\n6 steps to effective third-party risk management\n\nSee the path to managing third-party risk effectively with a checklist that\noutlines the six steps for a sound TPRM program.\n\n[ __ Download checklist  __ ](/resources/6-steps-to-effective-third-party-\nrisk-management-checklist/)\n\nThe basics of consent and preferences\n\nLet your website users know what they're consenting to and collect their\npreferences to optimize your communications.\n\n[ __ Download eBook  __ ](/resources/the-basics-of-consent-and-preferences-\nebook/)\n\n##  Ready to get started?\n\n###  Request a free demo today to see how OneTrust can help you unlock the\npower of responsible data use.\n\n[ __ Request demo  __ ](/forms/demo/)\n\n[ __ Contact sales  __ ](/forms/get-started/)\n\n###  Be the first to know\n\nSign up to receive the latest information about our organization, platform\ncapabilities, and events.\n\nOn-demand webinar coming soon...\n\n###  Get in touch\n\nBe the first to know about our solutions, products and new features.\n\nCall **+1 (404) 390-4157**  \nGet help **[ Create a support case\n](https://my.onetrust.com/s/contactsupport?language=en_US) **  \nVisit **[ myOneTrust ](https://my.onetrust.com/) **\n\n* * *\n\n* * *\n\n###  Top Searches\n\n  * [ Trust Center  ](/trust/)\n  * [ Consent & Preferences  ](/solutions/consent-and-preferences/)\n  * [ Third-Party Management  ](/solutions/third-party-management/)\n  * [ AI Governance  ](/products/ai-governance/)\n\n###  Resources\n\n  * [ From reactive to resilient: Building and scaling a modern enterprise risk program  ](/resources/from-reactive-to-resilient-building-and-scaling-a-modern-enterprise-risk-program-webinar/)\n  * [ EU AI Act Conformity Assessment: A step-by-step guide  ](/resources/eu-ai-act-conformity-assessment-a-step-by-step-guide-white-paper/)\n  * [ EU AI Act Conformity Assessment: A step-by-step guide  ](/resources/eu-ai-act-conformity-assessment-a-step-by-step-guide-infographic/)\n\n###  Platform\n\n  * [ Platform  ](/platform/)\n  * [ Pricing and Packaging  ](/pricing/)\n  * [ OneTrust Integrations: The Future of Privacy Management  ](/integrations/)\n\n###  Company\n\n  * [ About Us  ](/about-us/)\n  * [ OneTrust Global Offices  ](/about-us/all-locations/)\n  * [ Careers  ](/careers/)\n  * [ Newsroom  ](/news/)\n  * [ Legal and Compliance Information  ](/about-us/legal/)\n\n###  Latest News\n\n  * [ OneTrust unveils the future of privacy in the age of AI  ](/news/onetrust-unveils-the-future-of-privacy-in-the-age-of-ai/)\n  * [ OneTrust announces its first data privacy agent  ](/news/onetrust-announces-its-first-data-privacy-agent/)\n  * [ Corporate Compliance Insights | OneTrust adds AI-powered copilot to DataGuidance  ](https://www.corporatecomplianceinsights.com/onetrust-update-ai/)\n\n###  Contact Us\n\n  * [ Contact Us  ](/forms/contact-us/)\n  * [ Request Demo  ](/forms/demo/)\n\n* * *\n\n* * *\n\n* * *\n\n##  Privacy Matters\n\n####  Our privacy center makes it easy to see how  \nwe collect and use your information.\n\n* * *\n\n###  Your privacy\n\nWhen we collect your personal information, we always inform you of your rights\nand make it easy for you to exercise them. Where possible, we also let you\nmanage your preferences about how much information you choose to share with\nus, or our partners.\n\n\u00a9 { {CURRENT_DATE}} OneTrust, LLC. All Rights Reserved.\n\nOn-demand webinar coming soon...\n\n###  Our policies\n\n  * [ Privacy Overview  ](/privacy/)\n  * [ Privacy Notice  ](/privacy-notice/)\n  * [ Cookie Notice  ](/cookie-policy/)\n  * [ Trust Center  ](/trust/)\n\n###  Your rights\n\n  * [ Exercise Your Rights  ](https://privacyportal-cdn.onetrust.com/dsarwebform/37bcc497-a196-48f1-a08b-e897b5a77859/08a01c64-41fd-4b4e-9d42-cde44371a422.html)\n  * [ Manage Your Communication Preferences  ](/privacy/preferences/)\n\n",
                "url": "https://www.onetrust.com/index/"
            },
            "reason": "OneTrust is a well-known company in the privacy and compliance space. The website provides information about their services and solutions related to regulatory compliance. While it is a commercial site, the information is generally accurate and relevant to the topic, but may be biased towards promoting their products.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' risk regulatory compliance",
            "summary": "OneTrust website provides information about privacy and compliance solutions.",
            "url": "https://www.onetrust.com/index/"
        },
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                    "resource_type": "webpage",
                    "source": "https://holdings.fujifilm.com/en/sustainability/search/gri-01"
                },
                "page_content": "Home  Sustainability  Searching from the viewpoints of CSR  Guideline\nComparison Tables GRI Guideline: [GRI 2] General Disclosures\n\nSearching from the viewpoints of CSR\n\n#  Guideline Comparison Tables GRI Guideline: [GRI 2] General Disclosures\n\nThis report has been prepared in accordance with the GRI Standards.\n\n##  \uff081\uff09The organization and its reporting practices\n\n[ Latest version of the GRI guideline comparison table\n](https://www.fujifilm.com/files-\nholdings/en/sustainability/search/ffh_gri_index_2024_en.pdf#page=2)\n\nIndicator  |  References  |  Pages   \n---|---|---  \n2-1  |  Organizational details  |  Corporate Overview  |  P.4   \n[ Company Profile ](https://holdings.fujifilm.com/en/about/companyprofile) |  \\-   \n2-2  |  Entities included in the organization\u2019s sustainability reporting  |  About Sustainability Report  |  P.3   \n2-3  |  Reporting period, frequency and contact point  |  About Sustainability Report  |  P.3   \n2-4  |  Restatements of information  |  About Sustainability Report  |  P.3   \n2-5  |  External assurance  |  Independent Assurance Report  |  P.142   \n  \n##  \uff082\uff09Activities and workers\n\n[ Latest version of the GRI guideline comparison table\n](https://www.fujifilm.com/files-\nholdings/en/sustainability/search/ffh_gri_index_2024_en.pdf#page=2)\n\nIndicator  |  References  |  Pages   \n---|---|---  \n2-6  |  Activities, value chain and other business relationships  |  [ Company Profile ](https://holdings.fujifilm.com/en/about/companyprofile) |  \\-   \nFujifilm Group Procurement Overview  |  P.55-56   \n2-7  |  Employees  |  Corporate Overview  |  P.4   \nEmployee Basic Data  |  P.103-106   \n2-8  |  Workers who are not employees  |  N/A  |  \\-   \n  \n##  \uff083\uff09Governance\n\n[ Latest version of the GRI guideline comparison table\n](https://www.fujifilm.com/files-\nholdings/en/sustainability/search/ffh_gri_index_2024_en.pdf#page=2)\n\nIndicator  |  References  |  Pages   \n---|---|---  \n2-9  |  Governance structure and composition  |  Corporate Governance Structure and Features  |  P.21-23   \n[ Annual Securities Report Yuka Shoken Houkokusho (In Japanese only) ](https://ir.fujifilm.com/ja/investors/ir-materials/securities-reports.html) |  \\-   \n2-10  |  Nomination and selection of the highest governance body  |  Diversity among Directors  |  P.23-25   \n[ Corporate Governance Guidelines > Selection Criteria for Director Candidates, CEO Candidate and Audit & Supervisory Board Member Candidates ](https://www.fujifilm.com/files-holdings/en/about/governance/about_governance_ff_governance_guideline_en.pdf) |  \\-   \n2-11  |  Chair of the highest governance body  |  Corporate Governance Structure and Features  |  P.21-23   \n2-12  |  Role of the highest governance body in overseeing the management of impacts  |  CSR Management System  |  P.8-9   \nCorporate Governance Structure and Features  |  P.21-23   \n2-13  |  Delegation of responsibility for managing impacts  |  Background of CSR Planning and Process for Identifying Priority Issues (Materiality)  |  P.9-12   \n2-14  |  Role of the highest governance body in sustainability reporting  |  N/A  |  \\-   \n2-15  |  Conflicts of interest  |  [ Corporate Governance Guidelines > Related-Party Transactions ](https://www.fujifilm.com/files-holdings/en/about/governance/about_governance_ff_governance_guideline_en.pdf) |  \\-   \n2-16  |  Communication of critical concerns  |  Whistle-blowing and consultation reports  |  P.37   \n2-17  |  Collective knowledge of the highest governance body  |  [ Corporate Governance Guidelines > Policy on Training of Directors and Audit & Supervisory Board Members ](https://www.fujifilm.com/files-holdings/en/about/governance/about_governance_ff_governance_guideline_en.pdf) |  \\-   \nIntegrated Report > Activities of the Board of Directors  |  P.92   \n2-18  |  Evaluation of the performance of the highest governance body  |  The Evaluation of the Effectiveness of the Board of Directors  |  P.26   \n2-19  |  Remuneration policies  |  Relationship between CSR plan and management plan  |  P.16-17   \nExecutive Remuneration  |  P.27-30   \n[ Annual Securities Report Yuka Shoken Houkokusho (In Japanese only) ](https://ir.fujifilm.com/ja/investors/ir-materials/securities-reports.html) |  \\-   \n2-20  |  Process to determine remuneration  |  Remuneration decision process  |  P.27   \n[ Annual Securities Report Yuka Shoken Houkokusho (In Japanese only) ](https://ir.fujifilm.com/ja/investors/ir-materials/securities-reports.html) |  \\-   \n2-21  |  Annual total compensation ratio  |  Annual total compensation ratio 1:30   \n* Employee wages are calculated on average.  |  \\-   \n  \n##  \uff084\uff09Strategy, policies and practices\n\n[ Latest version of the GRI guideline comparison table\n](https://www.fujifilm.com/files-\nholdings/en/sustainability/search/ffh_gri_index_2024_en.pdf#page=3)\n\nIndicator  |  References  |  Pages   \n---|---|---  \n2-22  |  Statement on sustainable development strategy  |  Integrated Report > Message from the CEO  |  P.7-12   \n2-23  |  Policy commitments  |  Philosophical Concepts and Related Policies of the Fujifilm Group  |  P.7-8   \n2-24  |  Embedding policy commitments  |  Achievements for Efforts to Promote Compliance  |  P.37   \nEfforts in the Healthcare segment  |  P.54   \nProcurement Policy and Structure  |  P.56-58   \nManagement System  |  P.107   \nBasic Approach  |  P.126   \n2-25  |  Processes to remediate negative impacts  |  Results for Measures Including Remedies and Corrective Actions  |  P.129-132   \n2-26  |  Mechanisms for seeking advice and raising concerns  |  Whistle-blowing and consultation system  |  P.36   \n2-27  |  Compliance with laws and regulations  |  Status for FY2022  |  P.34   \nWhistle-blowing and consultation reports  |  P.37   \nEfforts for Each Theme Related to Laws and Regulations Particularly Important in Business Management  |  P.37-39   \nResponse to Environmental Laws and Regulations  |  P.71-72   \n2-28  |  Membership associations  |  [ Member Organizations / Third-Party Initiatives ](https://holdings.fujifilm.com/en/sustainability/evaluation#link05) |  \\-   \nMember Organizations/Third-Party Initiatives  |  P.20   \nCollaboration with Initiatives  |  P.76-78   \n  \n##  \uff085\uff09Stakeholder engagement\n\n[ Latest version of the GRI guideline comparison table\n](https://www.fujifilm.com/files-\nholdings/en/sustainability/search/ffh_gri_index_2024_en.pdf#page=3)\n\nIndicator  |  References  |  Pages   \n---|---|---  \n2-29  |  Approach to stakeholder engagement  |  Communication with Stakeholders  |  P.17-19   \n2-30  |  Collective bargaining agreements  |  100% (in Japan)  |  \\-   \n  \n**Regarding \u201cPages in this Report\u201d**  \nN / A: When those indicators have little relation with the Fujifilm Group\u2019s\nbusiness or there is no need of management.\n\n[ Material Topics  FUJIFILM Holdings' sustainability efforts including\nstrengthening corporate governance and environmental conservation and social\ncontribution. Learn more about Guideline Comparison Tables GRI Guideline: [GRI\n3] Material Topics.  ](/en/sustainability/search/gri-02)\n\n[ Economic  FUJIFILM Holdings' sustainability efforts including strengthening\ncorporate governance and environmental conservation and social contribution.\nLearn more about Guideline Comparison Tables GRI Guideline: [GRI 200]\nEconomic.  ](/en/sustainability/search/gri-03)\n\n[ Environmental  FUJIFILM Holdings' sustainability efforts including\nstrengthening corporate governance and environmental conservation and social\ncontribution. Learn more about Guideline Comparison Tables GRI Guideline: [GRI\n300] Environment.  ](/en/sustainability/search/gri-04)\n\n[ Social  FUJIFILM Holdings' sustainability efforts including strengthening\ncorporate governance and environmental conservation and social contribution.\nLearn more about Guideline Comparison Tables GRI Guideline: [GRI 400] Society.\n](/en/sustainability/search/gri-05)\n\n[ Searching from the viewpoints of CSR  ](/en/sustainability/search)\n\n##  Footer\n\nHome  Sustainability  Searching from the viewpoints of CSR  Guideline\nComparison Tables GRI Guideline: [GRI 2] General Disclosures\n\n###  Sitemap\n\n* [ Message from Leadership ](/en/about/message)\n* [ Fujifilm Group\u2019s Commitment\u200b ](/en/about/commitment)\n* [ Brand ](/en/about/brand)\n* [ Medium-term Management Plan ](https://ir.fujifilm.com/en/investors/policies-and-systems/plan.html)\n* [ Corporate Governance ](/en/about/governance)\n* [ Business Fields ](/en/about/fields)\n* [ Company Profile ](/en/about/companyprofile)\n* [ Board of Directors ](/en/about/executives)\n* [ Group Companies ](/en/about/group)\n* [ History of the Fujifilm Group ](/en/about/history)\n* [ Research & Development ](/en/about/rd)\n\n* [ Management Policies/Systems ](https://ir.fujifilm.com/en/investors/policies-and-systems.html)\n* [ Fujifilm Group\u2019s Value Creation ](https://ir.fujifilm.com/en/investors/value.html)\n* [ Performance/Financial Information ](https://ir.fujifilm.com/en/investors/performance-and-finance.html)\n* [ Stock/Shareholder Information ](https://ir.fujifilm.com/en/investors/stock-and-shareholder.html)\n* [ IR Materials ](https://ir.fujifilm.com/en/investors/ir-materials.html)\n* [ IR Calendar ](https://ir.fujifilm.com/en/investors/ir-calendar.html)\n* [ Stock Price Trends ](https://ir.fujifilm.com/en/investors/stock-and-shareholder/stock-price-trends.html)\n* [ IR News ](https://ir.fujifilm.com/en/investors/ir-news.html)\n* [ Contact Us (IR) ](https://www.fujifilmholdings.com/en/form/general/input.php?id=FHIREn)\n* [ IR E-mail Alerts ](https://ir.fujifilm.com/en/investors/mail.html)\n* [ Glossary ](https://ir.fujifilm.com/en/investors/glossary.html)\n* [ FAQs ](https://ir.fujifilm.com/en/investors/faq.html)\n* [ IR Sitemap ](https://ir.fujifilm.com/en/investors/ir-sitemap.html)\n\n* [ CSR policies ](/en/sustainability/vision)\n* [ CSR plan ](/en/sustainability/plan)\n* [ CSR activity report ](/en/sustainability/activity)\n* [ Sustainability Report ](/en/sustainability/report)\n* [ Appraisals and Recognition ](/en/sustainability/evaluation)\n* [ Searching from the viewpoints of CSR ](/en/sustainability/search)\n* [ Data and Information ](/en/sustainability/data)\n* [ Contact Us (Sustainability) ](https://www.fujifilmholdings.com/en/form/general/input.php?id=FHCSREn)\n* [ Global Compliance Hotline ](/en/contact#link01)\n\n###  Official Social Media Accounts\n\n###  Fujifilm Group\n\n[ FUJIFILM Corporation  ](https://www.fujifilm.com/jp/en) [ FUJIFILM Business\nInnovation Corp.  ](https://www.fujifilm.com/fb/eng)\n\n[ ](/en)\n\n[ Privacy Policy ](/en/privacy) [ Terms of Use ](/en/terms) [ Contact us\n](/en/contact) Cookies Settings\n\n\u00a9FUJIFILM Holdings Corporation\n\n",
                "url": "https://holdings.fujifilm.com/en/sustainability/search/gri-01"
            },
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            "summary": "This page from Fujifilm discusses sustainability reporting frameworks, including GRI, which indirectly relates to the value chain by addressing environmental and social impacts. It's a reputable source but doesn't directly analyze the company's value chain activities.",
            "url": "https://holdings.fujifilm.com/en/sustainability/search/gri-01"
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                    "source": "https://ncua.gov/regulation-supervision/manuals-guides/federal-consumer-financial-protection-guide/compliance-management/compliance-management-systems-and-compliance-risk"
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                "page_content": "Skip to main content\n\n#  Compliance Management Systems and Compliance Risk\n\n##  Overview\n\nCredit unions manage their exposure to compliance risk through a comprehensive\ncompliance program, often referred to as a compliance management system (CMS).\nThe following components are essential to a comprehensive CMS:\n\n  * Board of Directors and Senior Management Oversight \n  * Policies and Procedures \n  * Training \n  * Monitoring and Corrective Action \n  * Member Complaint Response \n  * Compliance Audit \n\nA credit union\u2019s CMS should address all of its compliance responsibilities.\nThe depth of detail for each component will vary based on a credit union\u2019s\nsize and complexity. Conclusions about the adequacy of a credit union\u2019s CMS\nshould be based on the effectiveness of the system as a whole.\n\nIn March 2017, the NCUA issued [ Supervisory Letter SL No. 17-01\n](/regulation-supervision/Pages/policy-compliance/communications/supervisory-\nletters.aspx) , which discusses the updated list of Compliance Risk Indicators\nthat are a part of NCUA\u2019s risk-focused examination program. It included an\nupdated AIRES questionnaire for compliance risk. The guidance in the\nSupervisory Letter applies whenever field staff evaluate compliance risk in a\nfederally insured credit union.\n\n  * Associated Risks \n  * Examination Objectives \n  * Examination Procedures \n  * Checklist \n\n* * *\n\n##  ** Associated Risks **\n\n**_Compliance risk_ ** can occur when the credit union fails to implement a\nsatisfactory compliance management system.\n\n**_Reputation_ ** **risk** may increase when the credit union incurs fines and\npenalties or receives decreased member confidence as a result of failure to\ncomply with consumer compliance regulations.\n\n**_Strategic_ ** **_risk_ ** occurs when the board of directors fails to\nperform necessary due diligence in developing a compliance management system.\n\n**_Transaction risk_ ** can occur when there are operational or system\nproblems that cause disclosures provided to members to be inaccurate or\nunderstated.\n\n##  ** Examination Objectives **\n\nAssess the credit union\u2019s level of compliance risk and effectiveness of the\ncredit union\u2019s CMSs.\n\n  * Determine whether board and management\u2019s commitment to and oversight of compliance risk and CMS is appropriate for the size, complexity and risk profile of the credit union; \n  * Assess management\u2019s ability to anticipate consumer protection challenges and emerging risks and, where necessary, determine whether management responds appropriately and takes corrective action; \n  * Determine the effectiveness of the credit union\u2019s policies, procedures, third party management, training programs, review and monitoring mechanisms (including audits and internal control systems), and consumer complaint response process. \n  * When violations of law and/or consumer harm are identified, determine the root cause, severity, duration, and pervasiveness, and recommend corrective actions. \n\n##  ** Examination Procedures **\n\nNCUA does not conduct separate consumer protection examinations nor does it\nassign a separate Consumer Compliance Rating. These procedures are written to\nalign and augment the NCUA\u2019s overall risk-focused examination approach. An\neffort has been made, where possible, not to re-state examination procedures\ndiscussed in the CMS section of this Federal Consumer Financial Protection\nGuide.\n\n  1. Consider the credit union\u2019s market and field of membership, organizational structure \u2014 including the compliance management program and personnel roles and responsibilities \u2014 business strategy, business activities and products, risk tolerance, processes for controlling risk, systems, and other relevant information about the credit union, including any changes to the aforementioned areas. \n  2. Identify the number and subject matter of consumer complaints involving the credit union since the preceding examination effective date. When warranted, review the underlying complaint documents and credit union response. If applicable, determine what additional on-site review steps are necessary to address any concerns identified. \n  3. Through the review of board and committee minutes, board and management reports, board policies, strategic planning documents, directives, and budgets, assess the appropriateness and effectiveness of the level of board and management oversight in regards to crisk, compliance management systems, and federal consumer protection laws and regulations. \n  4. Interview credit union management and senior compliance personnel regarding compliance management systems and processes, including planning, resources devoted to compliance efforts, responses to changes in consumer protection laws and regulations, due diligence, complaint response process, and compliance reviews. Make an assessment of management\u2019s commitment to and effectiveness of compliance management efforts and systems. \n  5. Review available documentation, such as policies and procedures relating to consumer compliance and federal consumer protection laws and regulations, internal and external consumer compliance review reports, training records, and consumer complaints received by the credit union and related documentation. Make conclusions regarding the effectiveness, timeliness, and appropriateness of the credit union\u2019s CMS. \n  6. When violations or deficiencies are identified, determine their root cause, severity, duration, and pervasiveness. Make conclusions on whether the problem identified can be corrected during the normal course of business, the severity of the impact on consumers, the duration of the violation and, if the credit union self-identified the issue, whether it took corrective action immediately, and whether the violations and deficiencies were isolated in nature or widespread across the credit union. \n\n##  CMS AND COMPLIANCE RISK  \nCHECKLIST\n\n###  **Board and Management Oversight**\n\nAccount Disclosures (\u00a7707.4)  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n1  |  Do the board and management effectively manage compliance risk, including providing adequate oversight and resources commensurate with the credit union\u2019s size, complexity, and risk profile?  |  |  |   \n  \n####  Oversight and Commitment\n\nOversight and Commitment  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n1(a)  |  Do the board of directors, supervisory committee, and management demonstrate a commitment and oversight to the credit union\u2019s compliance management system?  |  |  |   \n1(b)  |  Do the board and management provide compliance resources, including systems, capital, and personnel? Is staff knowledgeable, empowered, and held accountable for compliance with laws and regulations?  |  |  |   \n1(c)  |  Does management ensure adequate and ongoing due diligence and oversight of third parties?  |  |  |   \n  \n####  Change Management\n\nChange Management  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n1(d)  |  Does management anticipate and respond to changes in applicable laws and regulations, market conditions and products and services offered by evaluating the change and implementing responses across impacted lines of business?  |  |  |   \n  \n####  Comprehension, Identification, and Management of Risk\n\nComprehension, Identification, and Management of Risk  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n1(e)  |  Does management understand and identify compliance risks, including emerging risks, in the credit union\u2019s products, services, and other activities?  |  |  |   \n1(f)  |  Does management engage in managing risk, including through self-assessments?  |  |  |   \n  \n####  Corrective Action and Self-Identification\n\nCorrective Action and Self-Identification  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n1(g)  |  Does Management identify issues and respond to compliance risk management deficiencies and any violations of laws or regulations, including providing remediation?  |  |  |   \n  \n###  Compliance Program\n\nCompliance Program  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n2  |  Is the credit union\u2019s compliance management program effective and include policies, procedures, training, monitoring and audit programs, and complaint resolution commensurate with the credit union\u2019s size, complexity, and risk profile?  |  |  |   \n  \n####  Policies and Procedures\n\nPolicies and Procedures  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n2(a)  |  Are compliance policies, procedures and third-party relationship management programs adequate to manage the compliance risk in the credit union\u2019s products, services and activities?  |  |  |   \n2(b)  |  Is compliance training outlining staff responsibilities appropriate and timely?  |  |  |   \n2(c)  |  Is the compliance-training program updated to encompass new products and services, internal policy changes, and to comply with changes to consumer protection laws and regulations?  |  |  |   \n  \n####  Monitoring and/or Audit\n\nMonitoring and/or Audit  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n2(d)  |  Are compliance monitoring practices, management information systems, compliance audit, and internal control systems in place to adequately identify and address compliance risks throughout the credit union?  |  |  |   \n  \n####  Consumer Complaint Response\n\nConsumer Complaint Response  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n2(e)  |  Does the credit union have processes and procedures in place to address consumer complaints and investigations? Are consumer complaint investigations and responses prompt and thorough?  |  |  |   \n2(f)  |  Does management monitor consumer complaints to identify risks of potential consumer harm, program deficiencies, and/or customer service issues? If yes, does management take appropriate action?  |  |  |   \n  \n###  Violations of Law and Consumer Harm\n\nViolations of Law and Consumer Harm  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n3  |  During the examination did you identify no violations or only minor violations that did not result in consumer harm and did not represent supervisory concern? (This would include becoming aware of violations or identifying them through your reviews.)  |  |  |   \n  \n####  Root Cause\n\nRoot Cause  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n3(a)  |  Were the violations the result of minor weaknesses in the compliance management system? If no, document and discuss the material or critical weaknesses in the compliance management system.  |  |  |   \n  \n####  Severity\n\nSeverity  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n3(b)  |  Did the violations cause minimal supervisory concern or consumer impact? If no, document and discuss the specific facts involved.  |  |  |   \n  \n####  Duration\n\nDuration  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n3(c)  |  Did the violation occur over a limited period of time? If no, discuss the time frame and whether the violations were long-standing or whether they were repeated.  |  |  |   \n  \n####  Pervasiveness\n\nPervasiveness  Item  |  Description  |  YES  |  NO  |  N/A   \n---|---|---|---|---  \n3(d)  |  Were the violations isolated and resulted in little supervisory concern or consumer harm? If no, discuss the number or how widespread in multiple products or services.  |  |  |   \n  \n##  Footnotes\n\nLast modified on\n\n10/30/19\n\n**Stay Informed**\n\n[ Get Started ](/subscribe)\n\n[ ](https://www.facebook.com/NCUAgov \"Go to the NCUA's Facebook page\") [\n](https://twitter.com/TheNCUA \"Go to the NCUA's Twitter page\") [\n](https://www.linkedin.com/company/ncua \"Go to the NCUA's LinkedIn page\") [\n](https://www.youtube.com/ncuachannel \"Go to the NCUA's YouTube channel\")\n\n**Our Sites**\n\n[ **MyCreditUnion.gov** Trusted resource for consumer financial protection\ninformation.  ](https://mycreditunion.gov/ \"Go to the MyCreditUnion.gov site\")\n[ **Share Insurance** Learn about credit union fund insurance.\n](/consumers/share-insurance-coverage \"Go to the Share Insurance Coverage\npage\") [ **Research a Credit Union** View information for a specific credit\nunion, download Call Reports, and request Financial Performance Reports.\n](https://mapping.ncua.gov/ResearchCreditUnion \"Go to the Research a Credit\nUnion site\") [ **Credit Union Locator** Find a credit union by address, credit\nunion name, or charter number.  ](https://mapping.ncua.gov/ \"Go to the Credit\nUnion Locator site\")\n\nBack to Top  (Opens new window)  This is an external link to a website\nbelonging to another federal agency, private organization, or commercial\nentity.  > See more  < See less  Open/Close Alternative Text\n\n",
                "url": "https://ncua.gov/regulation-supervision/manuals-guides/federal-consumer-financial-protection-guide/compliance-management/compliance-management-systems-and-compliance-risk"
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            "summary": "NCUA guidance on compliance management systems and compliance risk.",
            "url": "https://ncua.gov/regulation-supervision/manuals-guides/federal-consumer-financial-protection-guide/compliance-management/compliance-management-systems-and-compliance-risk"
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                    "source": "https://bimbocanada.com/forced-labour-canadian-supply-chains"
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                "page_content": "Skip to main content\n\n#  Fighting Against Forced Labour and Child Labour in Supply Chains Act  \nAnnual Report\n\nQuestionnaire\n\nIdentifying information\n\nQuestions marked with an asterisk (*) are mandatory.\n\n1\\. *This report is for which of the following?\n\n  * Entity: Corporation \n\n2\\. *Legal name of reporting entity or government institution:\n\n  * Canada Bread Company, Limited/Boulangerie Canada Bread, Limit\u00e9e \n\n3\\. *Financial reporting year:\n\n  * December 31, 2023 \n\n4\\. *Is this a revised version of a report already submitted this reporting\nyear?\n\n  * No \n\n4.1 *If yes, identify the date the original report was submitted.\n\n  * N/A \n\n4.2 *Describe the changes made to the original report, including by listing\nthe questions or sections that were revised (1,500 character limit).\n\n  * N/A \n\n5\\. For entities only: Business number(s):\n\n  * 867 320 095 \n\n6\\. For entities only: *Is this a joint report?\n\n  * Yes \n\n6.1 *If yes, identify the legal name of each entity covered by this report.\n\n  * Natural Bakery Inc. \n\n6.2 Identify the business number(s) of each entity covered by this report (if\napplicable).\n\n  * 103 838 819 \n\n7\\. For entities only: *Is the entity also subject to reporting requirements\nunder supply chain legislation in another jurisdiction?\n\n  * No \n\n7.1 *If yes, indicate the applicable law(s). Select all that apply.\n\n  * N/A \n\n8\\. For entities only: *Which of the following categorizations applies to the\nentity? Select all that apply.\n\n  * Canadian business presence (select all that apply): \n    * \u2713 Has a place of business in Canada \n    * \u2713 Does business in Canada \n    * \u2713 Has assets in Canada \n\n  * Meets size-related thresholds (select all that apply): \n    * \u2713 Has at least $20 million in assets for at least one of its two most recent financial years \n    * \u2713 Has generated at least $40 million in revenue for at least one of its two most recent financial years \n    * \u2713 Employs an average of at least 250 employees for at least one of its two most recent financial years \n\n9\\. For entities only: *Which of the following sectors or industries does the\nentity operate in? Select all that apply. (Required)\n\n  * Manufacturing \n  * Wholesale trade \n  * Distributor \n\n10\\. For entities only: *In which country is the entity headquartered or\nprincipally located?\n\n  * Canada \n\n10.1 If in Canada: *In which province or territory is the entity headquartered\nor principally located?\n\n  * Ontario (for Canada Bread Company, Limited/Boulangerie Canada Bread, Limit\u00e9e) \n  * Manitoba (for Natural Bakery Inc.) \n\n11\\. For government institutions only: *Is this a report for a federal Crown\ncorporation or a subsidiary of a federal Crown corporation? (Required)\n\n  * N/A \n\n11.1 *If yes, which of the following sectors or industries does the Crown\ncorporation or subsidiary operate in? Select all that apply. (Required)\n\n  * N/A \n\n11.2 *If yes, in which province or territory is the Crown corporation or\nsubsidiary headquartered or principally located? (Required)\n\n  * N/A \n\n* * *\n\nAnnual Report\n\nReporting for entities\n\n1\\. *What steps has the entity taken in the previous financial year to prevent\nand reduce the risk that forced labour or child labour is used at any step of\nthe production of goods in Canada or elsewhere by the entity or of goods\nimported into Canada by the entity? Select all that apply. (Required)\n\n  * Conducting an internal assessment of risks of forced labour and/or child labour in the organization's activities and supply chains \n  * Developing and implementing an action plan for addressing forced labour and/or child labour \n  * Gathering information on worker recruitment and maintaining internal controls to ensure that all workers are recruited voluntarily \n  * Addressing practices in the organization's activities and supply chains that increase the risk of forced labour and/or child labour \n  * Developing and implementing due diligence policies and processes for identifying, addressing and prohibiting the use of forced labour and/or child labour in the organization's activities and supply chains \n  * Developing and implementing child protection policies and processes \n  * Developing and implementing anti-forced labour and/or -child labour contractual clauses \n  * Developing and implementing anti-forced labour and/or -child labour standards, codes of conduct and/or compliance checklists \n  * Monitoring suppliers \n  * Enacting measures to provide for, or cooperate in, remediation of forced labour and/or child labour \n  * Developing and implementing grievance mechanisms \n  * Engaging with supply chain partners on the issue of addressing forced labour and/or child labour \n\n2\\. Please provide additional information describing the steps taken (if\napplicable) (1,500-character limit).\n\n  * N/A \n\n3\\. *Which of the following accurately describes the entity's structure?\n(Required)\n\n  * Corporation \n\n4\\. *Which of the following accurately describes the entity's activities?\nSelect all that apply. (Required)\n\n  * Producing goods (including manufacturing, extracting, growing and processing) \n    * in Canada \n\n  * Selling goods \n    * in Canada \n    * outside Canada** \n\n  * Distributing goods \n    * in Canada \n\n  * Importing into Canada goods produced outside Canada \n  * Controlling an entity engaged in producing, selling or distributing goods in Canada, or importing into Canada goods produced outside Canada \n\n5\\. Please provide additional information on the entity's structure,\nactivities and supply chains (1,500-character limit).\n\n  * **Sell goods to customers based outside Canada. \n\n6\\. *Does the entity currently have policies and due diligence processes in\nplace related to forced labour and/or child labour?\n\n  * Yes \n\n6.1 *If yes, which of the following elements of the due diligence process has\nthe entity implemented in relation to forced labour and/or child labour?\nSelect all that apply.\n\n  * Embedding responsible business conduct into policies and management systems \n  * Tracking implementation and results \n  * Providing for or cooperating in remediation when appropriate \n\n7\\. Please provide additional information on the entity's policies and due\ndiligence processes in relation to forced labour and child labour (if\napplicable) (1,500-character limit).\n\nN/A\n\n8\\. *Has the entity identified parts of its activities and supply chains that\ncarry a risk of forced labour or child labour being used? (Required)\n\n  * Yes, we have started the process of identifying risks, but there are still gaps in our assessments. \n\n8.1 *If yes, has the entity identified forced labour or child labour risks\nrelated to any of the following aspects of its activities and supply chains?\nSelect all that apply. (Required)\n\n  * The types of products it sources \n  * The raw materials or commodities used in its supply chains \n  * Tier one (direct) suppliers \n  * Tier two suppliers \n  * The use of forced labour \n  * The use of child labour \n\n9\\. *Has the entity identified forced labour or child labour risks in its\nactivities and supply chains related to any of the following sectors and\nindustries? Select all that apply. (Required)\n\n  * Agriculture, forestry, fishing and hunting \n\n10\\. Please provide additional information on the parts of the entity's\nactivities and supply chains that carry a risk of forced labour or child\nlabour being used, as well as the steps that the entity has taken to assess\nand manage that risk (if applicable) (1,500-character limit).\n\n  * N/A \n\n11\\. *Has the entity taken any measures to remediate any forced labour or\nchild labour in its activities and supply chains? (Required)\n\n  * Yes, we have taken remediation measures and will continue to identify and address any gaps in our response. \n\n11.1 *If yes, which remediation measures has the entity taken? Select all that\napply. (Required)\n\n  * Actions to prevent forced labour or child labour and associated harms from reoccurring \n  * Grievance mechanisms \n\n12\\. Please provide additional information on any measures the entity has\ntaken to remediate any forced labour or child labour (if applicable)\n(1,500-character limit).\n\nAt a global level, we have identified social risks in our supply chain\nalthough not with direct suppliers. We are working with suppliers on\ntransformation projects to move the industry forward.\n\n13\\. *Has the entity taken any measures to remediate the loss of income to the\nmost vulnerable families that results from any measure taken to eliminate the\nuse of forced labour or child labour in its activities and supply chains?\n\n  * Not applicable, we have not identified any loss of income to vulnerable families resulting from measures taken to eliminate the use of forced labour or child labour in our activities and supply chains. \n\n14\\. Please provide additional information on any measures the entity has\ntaken to remediate the loss of income to the most vulnerable families that\nresults from any measure taken to eliminate the use of forced labour or child\nlabour in its activities and supply chains (if applicable) (1,500-character\nlimit).\n\n  * N/A \n\n15\\. *Does the entity currently provide training to employees on forced labour\nand/or child labour? (Required)\n\n  * Yes \n\n15.1 *If yes, is the training mandatory? (Required)\n\n  * Yes, the training is mandatory for some employees. *** \n\n16\\. Please provide additional information on the training the entity provides\nto employees on forced labour and child labour (if applicable).\n(1,500-character limit).\n\n  * *** Training is mandatory for salaried employees. \n\n17\\. *Does the entity currently have policies and procedures in place to\nassess its effectiveness in ensuring that forced labour and child labour are\nnot being used in its activities and supply chains? (Required)\n\n  * Yes \n\n17.1 *If yes, what method does the entity use to assess its effectiveness?\nSelect all that apply. (Required)\n\n  * Setting up a regular review or audit of the organization's policies and procedures related to forced labour and child labour \n\n18\\. Please provide additional information on how the entity assesses its\neffectiveness in ensuring that forced labour and child labour are not being\nused in its activities and supply chains (if applicable). (1,500-character\nlimit).\n\n  * Through our supplier engagement in key raw materials like palm, cocoa and sugar, we identify action plans to mitigate risk of human rights issues. We understand that these issues can arise further down our supply chain (tier 2 and further), so it is important to us to ensure that our suppliers are aware of the risks and are working to eliminate them in their supply chain. As well, we have a grievance mechanism that we leverage to address social and environmental issues in our supply chain, including forced labour. \n\n_May 30, 2024_\n\n[ ](/)\n\n  * [ About Us ](/about-us)\n  * [ Careers ](/careers)\n  * [ News Centre ](/news-centre)\n  * [ Sustainability ](/sustainability)\n  * [ Business Opportunities ](/business-opportunities)\n  * [ Contact Us ](/contact-us)\n  * [ Awards Archive ](/awards-archive)\n  * [ Consumer Alerts ](/consumer-alerts)\n\n  * [ Fran\u00e7ais ](/fr/node/2317) [ __ ](https://www.facebook.com/BimboCanadaBC/)\n  * [ __ ](https://www.linkedin.com/company/bimbo-canada/)\n\n  * [ Terms of Use ](/terms-use)\n  * [ Privacy Statement ](/privacy-policy)\n  * [ Do Not Sell or Share My Personal Information ](/privacy-preferences)\n  * [ Forced Labour in Canadian Supply Chains ](/forced-labour-canadian-supply-chains)\n  * [ Accessibility ](/sites/default/files/2022-03/Accessibility-Statement-and-Multi-Year-Plan-Bimbo-Canada-EN_ADA-Remediated-2.pdf)\n  * [ Sitemap ](/sitemap)\n\n[ A proud member of Grupo Bimbo  ](https://www.grupobimbo.com/en)\n\n\u00a9 2025 BIMBO CANADA. ALL RIGHTS RESERVED.\n\n",
                "url": "https://bimbocanada.com/forced-labour-canadian-supply-chains"
            },
            "reason": "This page from Bimbo Canada discusses forced labor in Canadian supply chains. It's a company addressing ethical considerations within its value chain. The information is likely accurate and reflects the company's stance.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' activities value chain",
            "summary": "This page from Bimbo Canada discusses forced labor in Canadian supply chains. It's a company addressing ethical considerations within its value chain. The information is likely accurate and reflects the company's stance.",
            "url": "https://bimbocanada.com/forced-labour-canadian-supply-chains"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "a0045721-8df3-439e-9a50-1449cc16c410",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.fdic.gov/risk-management-manual-examination-policies"
                },
                "page_content": "Skip to main content\n\nAn official website of the United States government\n\n**The .gov means it\u2019s official.**  \nFederal government websites often end in .gov or .mil. Before sharing\nsensitive information, make sure you\u2019re on a federal government site.\n\n**The site is secure.**  \nThe **https://** ensures that you are connecting to the official website and\nthat any information you provide is encrypted and transmitted securely.\n\n_[ ](/ \"Home\") _\n\nRisk Management Manual of Examination Policies\n\n#  Risk Management Manual of Examination Policies\n\n_Share This:_\n\nShare on Facebook\n\nShare on X\n\nFollow the FDIC on LinkedIn\n\nShare through email\n\nPrint\n\n  * [ Risk Management Manual of Examination Policies ](/risk-management-manual-examination-policies)\n  * [ Section 22.1: Examination Documentation Modules ](/risk-management-manual-examination-policies/section-221-examination-documentation-modules)\n\n[ **Complete Manual** ](/risk-management-manual-examination-policies/complete-\nmanual \"Complete Manual\") , [ **Complete Manual** ](/resources/supervision-\nand-examinations/examination-policies-manual/risk-management-manual-\ncomplete.pdf \"Risk Management Manual of Examination Policies\")\n\n**Current Year Updates:**\n\n**(includes redline versions of updated manual sections)**\n\n[ March 2025 Updates Only ](/risk-management-manual-examination-\npolicies/march-2025-updates-only \"March 2025 Updates Only\")\n\n**Prior Year Updates:**\n\n[ November 2024 Updates Only ](/risk-management-manual-examination-\npolicies/november-2024-updates-only \"November 2024 Updates Only\")  \n[ October 2024 Updates Only ](/risk-management-manual-examination-\npolicies/october-2024-updates-only-zip \"October 2024 Updates Only - ZIP\")  \n[ July 2024 Updates Only ](/risk-management-manual-examination-\npolicies/july-2024-updates-only-zip \"July 2024 Updates Only - ZIP\")  \n[ April 2024 Updates Only ](/risk-management-manual-examination-\npolicies/april-2024-updates-only-zip \"April 2024 Updates Only - ZIP\")  \n[ March 2024 Updates Only ](/resources/supervision-and-\nexaminations/examination-policies-manual/2024-03-updates.zip \"March 2024\nUpdates Only - ZIP\")  \n[ January 2024 Updates Only ](/resources/supervision-and-\nexaminations/examination-policies-manual/2024-01-updates.zip \"January 2024\nUpdates Only - ZIP\")\n\n[ PDF Help  ](/acrobat.html)\n\n* * *\n\n[ Table of Contents  ](/resources/supervision-and-examinations/examination-\npolicies-manual/manual-examinations-toc.pdf)  \n[ Index ](/resources/supervision-and-examinations/examination-policies-\nmanual/manual-examinations-index.pdf)\n\nPart I: Basic Examination Concepts and Guidelines  \nPart II: CAMELS  \nPart III: Other Examination Issues  \nPart IV: Administrative and Enforcement Actions  \nPart V: Examination Reports  \nPart VI: Appendix - Examination Processes and Tools\n\n##  **Part I: Basic Examination Concepts and Guidelines**\n\nSection  |  Title  |  Audio  (Note 1)  |  Run Time (Hrs/Mins)  |  Last Updated   \n---|---|---|---|---  \n1.1  |  [ Basic Examination Concepts and Guidelines ](/resources/supervision-and-examinations/examination-policies-manual/section1-1.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-1-1) |  02:17  |  03/2022   \n  \n##  **Part II: CAMELS**\n\nSection  |  Title  |  Audio  (Note 1)  |  Run Time (Hrs/Mins)  |  Last Updated   \n---|---|---|---|---  \n2.1  |  [ Capital ](/resources/supervision-and-examinations/examination-policies-manual/section2-1.pdf) |  [ Audio ](/media/25366) |  01:36  |  08/2022   \n3.1  |  [ Asset Quality ](/resources/supervision-and-examinations/examination-policies-manual/section3-1.pdf) |  [ Audio ](/media/25371) |  00:06  |  01/2024   \n3.2  |  [ Loans ](/resources/supervision-and-examinations/examination-policies-manual/section3-2.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-3-2) |  08:03  |  07/2024   \n3.3  |  [ Securities ](/resources/supervision-and-examinations/examination-policies-manual/section3-3.pdf) |  [ Audio ](/media/25376) |  01:27  |  03/2024   \n3.4  |  [ Cash and Due from Banks ](/resources/supervision-and-examinations/examination-policies-manual/section3-4.pdf \"section3-4\") |  [ Audio ](/media/25381) |  00:25  |  03/2012   \n3.5  |  [ Premises and Equipment ](/resources/supervision-and-examinations/examination-policies-manual/section3-5.pdf) |  [ Audio ](/media/25386) |  00:24  |  12/2019   \n3.6  |  [ Other Real Estate ](/resources/supervision-and-examinations/examination-policies-manual/section3-6.pdf) |  [ Audio ](/media/25391) |  00:22  |  02/2023   \n3.7  |  [ Other Assets and Liabilities ](/resources/supervision-and-examinations/examination-policies-manual/section3-7.pdf) |  [ Audio ](/media/25396) |  00:48  |  03/2025   \n3.8  |  [ Off-Balance Sheet Activities ](/resources/supervision-and-examinations/examination-policies-manual/section3-8.pdf) |  [ Audio ](/media/25401) |  00:31  |  06/2019   \n4.1  |  [ Management ](/resources/supervision-and-examinations/examination-policies-manual/section4-1.pdf) |  [ Audio ](/media/25406) |  01:42  |  03/2022   \n4.2  |  [ Internal Routine and Controls ](/resources/supervision-and-examinations/examination-policies-manual/section4-2.pdf) |  [ Audio ](/media/25411) |  02:08  |  03/2015   \n4.3  |  [ Related Organizations ](/resources/supervision-and-examinations/examination-policies-manual/section4-3.pdf) |  [ Audio ](/media/25416) |  01:51  |  12/2004   \n4.4  |  [ Fidelity and Other Indemnity Protection ](/resources/supervision-and-examinations/examination-policies-manual/section4-4.pdf) |  [ Audio ](/media/25421) |  00:36  |  12/2004   \n4.5  |  [ Violations of Laws and Regulations ](/resources/supervision-and-examinations/examination-policies-manual/section4-5.pdf) |  [ Audio ](/media/153131) |  00:20  |  02/2019   \n4.6  |  [ Miscellaneous Banking Activities ](/resources/supervision-and-examinations/examination-policies-manual/section4-6.pdf) |  [ Audio ](/media/153136) |  00:09  |  12/2004   \n5.1  |  [ Earnings ](/resources/supervision-and-examinations/examination-policies-manual/section5-1.pdf) |  [ Audio ](/media/153141) |  0:41  |  07/2018   \n6.1  |  [ Liquidity and Funds Management ](/resources/supervision-and-examinations/examination-policies-manual/section6-1.pdf) |  [ Audio ](/media/153221) |  02:40  |  04/2024   \n7.1  |  [ Sensitivity to Market Risk ](/resources/supervision-and-examinations/examination-policies-manual/section7-1.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-7-1) |  02:00  |  07/2018   \n  \n##  **Part III: Other Examination Issues**\n\nSection  |  Title  |  Audio  (Note 1)  |  Run Time (Hrs/Mins)  |  Last Updated   \n---|---|---|---|---  \n8.1  |  [ Bank Secrecy Act, Anti-Money Laundering and Office of Foreign Assets Control ](/resources/supervision-and-examinations/examination-policies-manual/section8-1.pdf) |  N/A  |  N/A  |  12/2004   \n9.1  |  [ Bank Fraud and Insider Abuse ](/resources/supervision-and-examinations/examination-policies-manual/section9-1.pdf) |  [ Audio ](/media/153146) |  01:13  |  04/1998   \n10.1  |  [ Suspicious Activity and Criminal Violations ](/resources/supervision-and-examinations/examination-policies-manual/section10-1.pdf) |  [ Audio ](/media/153151) |  01:04  |  11/2017   \n11.1  |  [ International Banking ](/resources/supervision-and-examinations/examination-policies-manual/section11-1.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-11-1) |  03:58  |  01/2018   \n12.1  |  [ Applications ](/resources/supervision-and-examinations/examination-policies-manual/section12-1.pdf) |  [ Audio ](/media/153171) |  02:07  |  02/2002   \n  \n##  **Part IV: Administrative and Enforcement Actions**\n\nSection  |  Title  |  Audio  (Note 1)  |  Run Time (Hrs/Mins)  |  Last Updated   \n---|---|---|---|---  \n13.1  |  [ Informal Actions ](/resources/supervision-and-examinations/examination-policies-manual/section13-1.pdf) |  [ Audio ](/media/153176) |  00:11  |  04/2016   \n14.1  |  [ Civil Money Penalties ](/resources/supervision-and-examinations/examination-policies-manual/section14-1.pdf) |  [ Audio ](/media/153181) |  00:23  |  11/2023   \n15.1  |  [ Formal Administrative Actions ](/resources/supervision-and-examinations/examination-policies-manual/section15-1.pdf) |  [ Audio ](/media/153196) |  01:03  |  03/2024   \n  \n##  **Part V: Examination Reports**\n\nSection  |  Title  |  Audio  (Note 1)  |  Run Time (Hrs/Mins)  |  Last Updated   \n---|---|---|---|---  \n16.1  |  [ Report of Examination Instructions ](/resources/supervision-and-examinations/examination-policies-manual/section16-1.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-16-1) |  03:38  |  04/2024   \n16.2  |  [ Report of Examination Instructions \u2013 International ](/resources/supervision-and-examinations/examination-policies-manual/section16-2.pdf) |  [ Audio ](/media/153201) |  00:51  |  01/2018   \n17.1a  |  [ Bank of Anytown \u2013 Current Expected Credit Losses ](/resources/supervision-and-examinations/examination-policies-manual/section17-1a.pdf) |  N/A  |  N/A  |  01/2022   \n17.1b  |  [ Bank of Anytown \u2013 Non-Current Expected Credit Losses ](/resources/supervision-and-examinations/examination-policies-manual/section17-1b.pdf) |  N/A  |  N/A  |  01/2022   \n17.2  |  [ Bank of Anytown \u2013 International ](/resources/supervision-and-examinations/examination-policies-manual/section17-2.pdf) |  N/A  |  N/A  |  01/2018   \n18.1  |  [ Report of Investigation Instructions ](/resources/supervision-and-examinations/examination-policies-manual/section18-1.pdf) |  [ Audio ](/media/153211) |  01:05  |  12/2004   \n19.1  |  [ Bank of Anytown \u2013 Report of Investigation ](/resources/supervision-and-examinations/examination-policies-manual/section19-1.pdf) |  N/A  |  N/A  |  02/2002   \n  \n##  **Part VI: Appendix - Examination Processes and Tools**\n\nSection  |  Title  |  Audio  (Note 1)  |  Run Time (Hrs/Mins)  |  Last Updated   \n---|---|---|---|---  \n20.1  |  [ Risk-Focused, Forward-Looking Safety and Soundness Supervision ](/resources/supervision-and-examinations/examination-policies-manual/section20-1.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-20-1) |  00:32  |  04/2021   \n21.1  |  [ Examination Planning ](/resources/supervision-and-examinations/examination-policies-manual/section21-1.pdf) |  [ Audio ](/risk-management-manual-examination-policies/section-21-1-0 \"section-21-1\") |  00:42  |  10/2024   \n21.2  |  [ Supervisory Planning \u2013 Continuous Examinations ](/resources/supervision-and-examinations/examination-policies-manual/section21-2.pdf) |  [ Audio ](/resources/supervision-and-examinations/examination-policies-manual/section-21-2) |  00:20  |  05/2023   \n22.1  |  [ Examination Documentation Modules ](/risk-management-manual-examination-policies/section-221-examination-documentation-modules \" Section 22.1: Examination Documentation Modules\") |  N/A  |  N/A  |  11/2024   \n23.1  |  _Reserved for Future Documents_ |  N/A  |  N/A  |  N/A   \n  \n(Note 1)  The MP3 files may not be complete copies of the PDF files due to the\nexclusion of charts and tables that do not convert well to audio\npresentations. Therefore, the content in the PDF version takes precedence over\nthe content in the Audio version.\n\nLast Updated: March 27, 2025\n\nCONTACT THE FDIC\n\n[ CONTACT US ](/contact)\n\nSTAY INFORMED\n\n[ Follow the FDIC on Facebook  ](https://www.facebook.com/FDICgov/)\n\n[ Share on X  ](https://x.com/FDICgov)\n\n[ Follow the FDIC on Instagram  ](https://www.instagram.com/fdicgov/)\n\n[ Follow the FDIC on LinkedIn  ](https://www.linkedin.com/company/fdic/)\n\n[ Follow the FDIC on Flickr  ](https://www.flickr.com/photos/187818557@N05/)\n\n[ Follow the FDIC on YouTube  ](https://youtube.com/user/FDICchannel/)\n\nHOW CAN WE HELP YOU?\n\n[ ](https://www.omniture.com/ \"Web Analytics\")\n\n",
                "url": "https://www.fdic.gov/risk-management-manual-examination-policies"
            },
            "reason": "This is a U.S. government website (FDIC) providing a risk management manual and examination policies. It is a highly reliable source of regulatory information for financial institutions.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' risk regulatory compliance",
            "summary": "FDIC's risk management manual and examination policies.",
            "url": "https://www.fdic.gov/risk-management-manual-examination-policies"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "b00a6742-5912-4dee-9eb9-795153e2b879",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.ibm.com/docs/en/was/9.0.5?topic=overview-regulatory-compliance"
                },
                "page_content": "\n\n",
                "url": "https://www.ibm.com/docs/en/was/9.0.5?topic=overview-regulatory-compliance"
            },
            "reason": "This page from IBM provides an overview of regulatory compliance in the context of their WebSphere Application Server. IBM is a reputable technology company, and the information is likely accurate, though potentially focused on their specific product.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' risk regulatory compliance",
            "summary": "IBM's overview of regulatory compliance for WebSphere Application Server.",
            "url": "https://www.ibm.com/docs/en/was/9.0.5?topic=overview-regulatory-compliance"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "b6bf47a1-5441-4e41-83ea-c658797fcea6",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.epa.gov/ground-water-and-drinking-water/national-primary-drinking-water-regulations"
                },
                "page_content": "Skip to main content\n\n**Official websites use .gov**  \nA **.gov** website belongs to an official government organization in the\nUnited States.\n\n**Secure .gov websites use HTTPS**  \nA **lock** (  ) or **https://** means you\u2019ve safely connected to the .gov\nwebsite. Share sensitive information only on official, secure websites.\n\nJavaScript appears to be disabled on this computer. Please [ click here to see\nany active alerts ](/alerts) .\n\n#  National Primary Drinking Water Regulations\n\nRelated Info\n\n  * Find out [ how EPA develops drinking water regulations ](/sdwa/sdwa-evaluation-and-rulemaking-process)\n  * Learn about [ existing EPA drinking water regulations ](/node/115533/)\n  * Read the drinking water section of the [ Code of Federal Regulations (40 CFR 141) ](http://www.gpo.gov)\n  * Historical information [ Fact Sheet: Questions and Answers on Fluoride, January 2011 ](https://19january2021snapshot.epa.gov/dwsixyearreview/fact-sheet-questions-and-answers-fluoride_.html)\n\nThe National Primary Drinking Water Regulations (  NPDWR)  are legally\nenforceable primary standards and treatment techniques that apply to public\nwater systems. Primary standards and treatment techniques protect public\nhealth by limiting the levels of contaminants in drinking water.\n\n  * Microorganisms \n  * Disinfectants \n  * Disinfection Byproducts \n  * Inorganic Chemicals \n  * Organic Chemicals, except for PFAS \n    * Selected Per- and poly-fluoroalkyl substances (PFAS) \n  * Radionuclides \n\n* * *\n\n###  Microorganisms\n\n  * [ Surface Water Treatment Rules ](/dwreginfo/surface-water-treatment-rules)\n  * [ Ground Water Rule ](/dwreginfo/ground-water-rule)\n  * [ Revised Total Coliform Rule And Total Coliform Rule ](/dwreginfo/revised-total-coliform-rule-and-total-coliform-rule)\n\nContaminant  |  MCLG  1  |  MCL  or  TT  1  |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---  \n_Cryptosporidium_ |  zero  |  TT  3  |  Gastrointestinal illness (such as diarrhea, vomiting, and cramps)  |  Human and animal fecal waste   \n_Giardia lamblia_ |  zero  |  TT  3  |  Gastrointestinal illness (such as diarrhea, vomiting, and cramps)  |  Human and animal fecal waste   \nHeterotrophic plate count (  HPC  )  |  n/a  |  TT  3  |  HPC  has no health effects; it is an analytic method used to measure the variety of bacteria that are common in water. The lower the concentration of bacteria in drinking water, the better maintained the water system is.  |  HPC  measures a range of bacteria that are naturally present in the environment   \n[ _Legionella_ ](/ground-water-and-drinking-water/legionella) |  zero  |  TT  3  |  Legionnaire's Disease, a type of pneumonia  |  Found naturally in water; multiplies in heating systems   \nTotal Coliforms (including fecal coliform and _E. Coli_ )\n\n  * [ Quick reference guide ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=P100K9MP.txt)\n  * [ Rule Summary ](/dwreginfo/revised-total-coliform-rule-and-total-coliform-rule)\n\n|  zero  |  5.0%  4  |  Not a health threat in itself; it is used to indicate whether other potentially harmful bacteria may be present  5  |  Coliforms are naturally present in the environment; as well as feces; fecal coliforms and _E. coli_ only come from human and animal fecal waste.   \nTurbidity  |  n/a  |  TT  3  |  Turbidity is a measure of the cloudiness of water. It is used to indicate water quality and filtration effectiveness (such as whether disease-causing organisms are present). Higher turbidity levels are often associated with higher levels of disease-causing microorganisms such as viruses, parasites and some bacteria. These organisms can cause symptoms such as nausea, cramps, diarrhea, and associated headaches.  |  Soil runoff   \nViruses (enteric)  |  zero  |  TT  3  |  Gastrointestinal illness (such as diarrhea, vomiting, and cramps)  |  Human and animal fecal waste   \n  \n* * *\n\n###  Disinfection Byproducts\n\n  * [ Quick reference guide: Stage 1 and 2 Disinfectants and Disinfection Byproducts Rules ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=P100C8XW.txt)\n  * [ Stage 1 and 2 Rules Summary ](/dwreginfo/stage-1-and-stage-2-disinfectants-and-disinfection-byproducts-rules)\n\nContaminant  |  MCLG  1  (  mg/L  )  2  |  MCL  or  TT  1  (  mg/L  )  2  |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---  \nBromate  |  zero  |  0.010  |  Increased risk of cancer  |  Byproduct of drinking water disinfection   \nChlorite  |  0.8  |  1.0  |  Anemia; infants and young children: nervous system effects  |  Byproduct of drinking water disinfection   \nHaloacetic acids (  HAA5)  |  n/a  6  |  0.060  |  Increased risk of cancer  |  Byproduct of drinking water disinfection   \nTotal Trihalomethanes (  TTHMs  )  |  n/a  6  |  0.080  |  Liver, kidney or central nervous system problems; increased risk of cancer  |  Byproduct of drinking water disinfection   \n  \n* * *\n\n###  Disinfectants\n\n  * [ Quick reference guide: Stage 1 and 2 Disinfectants and Disinfection Byproducts Rules ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=P100C8XW.txt)\n  * [ Stage 1 and 2 Rules Summary ](/dwreginfo/stage-1-and-stage-2-disinfectants-and-disinfection-byproducts-rules)\n\nContaminant  |  MCLG  1  (  mg/L  )  2  |  MCL  or  TT  1  (  mg/L  )  2  |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---  \n[ Chloramines (as  Cl  2  ) ](/dwreginfo/chloramines-drinking-water) |  MRDLG  =4  1  |  MRDL  =4.0  1  |  Eye/nose irritation; stomach discomfort, anemia  |  Water additive used to control microbes   \nChlorine (as  Cl  2  )  |  MRDLG  =4  1  |  MRDL  =4.0  1  |  Eye/nose irritation; stomach discomfort  |  Water additive used to control microbes   \nChlorine dioxide (as  ClO  2  )  |  MRDLG  =0.8  1  |  MRDL  =0.8  1  |  Anemia; infants and young children: nervous system effects  |  Water additive used to control microbes   \n  \n* * *\n\n###  Inorganic Chemicals\n\n  * [ Chemical Contaminant Rules Summary ](/dwreginfo/chemical-contaminant-rules)\n\nContaminant  |  MCLG  1  (  mg/L  )  2  |  MCL  or  TT  1  (  mg/L  )  2  |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---  \nAntimony  |  0.006  |  0.006  |  Increase in blood cholesterol; decrease in blood sugar  |  Discharge from petroleum refineries; fire retardants; ceramics; electronics; solder   \nArsenic\n\n  * [ Quick reference guide ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=300065YM.txt)\n  * [ Consumer fact sheet ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=60000E1E.txt)\n\n|  0  |  0.010 as of 01/23/06  |  Skin damage or problems with circulatory systems, and may have increased risk of getting cancer  |  Erosion of natural deposits; runoff from orchards, runoff from glass and electronics production wastes   \nAsbestos (fiber > 10 micrometers)  |  7 million fibers per liter (  MFL  )  |  7  MFL  |  Increased risk of developing benign intestinal polyps  |  Decay of asbestos cement in water mains; erosion of natural deposits   \nBarium  |  2  |  2  |  Increase in blood pressure  |  Discharge of drilling wastes; discharge from metal refineries; erosion of natural deposits   \nBeryllium  |  0.004  |  0.004  |  Intestinal lesions  |  Discharge from metal refineries and coal-burning factories; discharge from electrical, aerospace, and defense industries   \nCadmium  |  0.005  |  0.005  |  Kidney damage  |  Corrosion of galvanized pipes; erosion of natural deposits; discharge from metal refineries; runoff from waste batteries and paints   \n[ Chromium (total) ](/dwstandardsregulations/chromium-drinking-water) |  0.1  |  0.1  |  Allergic dermatitis  |  Discharge from steel and pulp mills; erosion of natural deposits   \nCopper  |  1.3  |  TT  7  ; Action Level=1.3  |  Short term exposure: Gastrointestinal distress  Long term exposure: Liver or kidney damage  People with Wilson's Disease should consult their personal doctor if the amount of copper in their water exceeds the action level  |  Corrosion of household plumbing systems; erosion of natural deposits   \nCyanide (as free cyanide)  |  0.2  |  0.2  |  Nerve damage or thyroid problems  |  Discharge from steel/metal factories; discharge from plastic and fertilizer factories   \nFluoride  |  4.0  |  4.0  |  Bone disease (pain and tenderness of the bones); Children may get mottled teeth  |  Water additive which promotes strong teeth; erosion of natural deposits; discharge from fertilizer and aluminum factories   \n[ Lead ](/node/133825/)\n\n  * [ Quick reference guide ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=60001N8P.txt)\n  * [ Rule information ](/node/120819/)\n\n|  zero  |  TT  7  ; Action Level=0.010  |  Infants and children: Delays in physical or mental development; children could show slight deficits in attention span and learning abilities  Adults: Kidney problems; high blood pressure  |  Corrosion of household plumbing systems; erosion of natural deposits   \nMercury (inorganic)  |  0.002  |  0.002  |  Kidney damage  |  Erosion of natural deposits; discharge from refineries and factories; runoff from landfills and croplands   \nNitrate (measured as Nitrogen)  |  10  |  10  |  Infants below the age of six months who drink water containing nitrate in excess of the MCL could become seriously ill and, if untreated, may die. Symptoms include shortness of breath and blue-baby syndrome.  |  Runoff from fertilizer use; leaking from septic tanks, sewage; erosion of natural deposits   \nNitrite (measured as Nitrogen)  |  1  |  1  |  Infants below the age of six months who drink water containing nitrite in excess of the MCL could become seriously ill and, if untreated, may die. Symptoms include shortness of breath and blue-baby syndrome.  |  Runoff from fertilizer use; leaking from septic tanks, sewage; erosion of natural deposits   \nSelenium  |  0.05  |  0.05  |  Hair or fingernail loss; numbness in fingers or toes; circulatory problems  |  Discharge from petroleum refineries; erosion of natural deposits; discharge from mines   \nThallium  |  0.0005  |  0.002  |  Hair loss; changes in blood; kidney, intestine, or liver problems  |  Leaching from ore-processing sites; discharge from electronics, glass, and drug factories   \n  \n* * *\n\n###  Organic Chemicals, except for PFAS\n\n  * [ Chemical Contaminant Rules Summary ](/dwreginfo/chemical-contaminant-rules)\n\nContaminant  |  MCLG  1  (  mg/L  )  2  |  MCL  or  TT  1  (  mg/L  )  2  |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---  \nAcrylamide  |  zero  |  TT  8  |  Nervous system or blood problems; increased risk of cancer  |  Added to water during sewage/wastewater treatment   \nAlachlor  |  zero  |  0.002  |  Eye, liver, kidney or spleen problems; anemia; increased risk of cancer  |  Runoff from herbicide used on row crops   \nAtrazine  |  0.003  |  0.003  |  Cardiovascular system or reproductive problems  |  Runoff from herbicide used on row crops   \nBenzene  |  zero  |  0.005  |  Anemia; decrease in blood platelets; increased risk of cancer  |  Discharge from factories; leaching from gas storage tanks and landfills   \nBenzo(a)pyrene (PAHs)  |  zero  |  0.0002  |  Reproductive difficulties; increased risk of cancer  |  Leaching from linings of water storage tanks and distribution lines   \nCarbofuran  |  0.04  |  0.04  |  Problems with blood, nervous system, or reproductive system  |  Leaching of soil fumigant used on rice and alfalfa   \nCarbon tetrachloride  |  zero  |  0.005  |  Liver problems; increased risk of cancer  |  Discharge from chemical plants and other industrial activities   \nChlordane  |  zero  |  0.002  |  Liver or nervous system problems; increased risk of cancer  |  Residue of banned termiticide   \nChlorobenzene  |  0.1  |  0.1  |  Liver or kidney problems  |  Discharge from chemical and agricultural chemical factories   \n2,4-D  |  0.07  |  0.07  |  Kidney, liver, or adrenal gland problems  |  Runoff from herbicide used on row crops   \nDalapon  |  0.2  |  0.2  |  Minor kidney changes  |  Runoff from herbicide used on rights of way   \n1,2-Dibromo-3-chloropropane (  DBCP  )  |  zero  |  0.0002  |  Reproductive difficulties; increased risk of cancer  |  Runoff/leaching from soil fumigant used on soybeans, cotton, pineapples, and orchards   \no-Dichlorobenzene  |  0.6  |  0.6  |  Liver, kidney, or circulatory system problems  |  Discharge from industrial chemical factories   \np-Dichlorobenzene  |  0.075  |  0.075  |  Anemia; liver, kidney or spleen damage; changes in blood  |  Discharge from industrial chemical factories   \n1,2-Dichloroethane  |  zero  |  0.005  |  Increased risk of cancer  |  Discharge from industrial chemical factories   \n1,1-Dichloroethylene  |  0.007  |  0.007  |  Liver problems  |  Discharge from industrial chemical factories   \ncis-1,2-Dichloroethylene  |  0.07  |  0.07  |  Liver problems  |  Discharge from industrial chemical factories   \ntrans-1,2-Dichloroethylene  |  0.1  |  0.1  |  Liver problems  |  Discharge from industrial chemical factories   \nDichloromethane  |  zero  |  0.005  |  Liver problems; increased risk of cancer  |  Discharge from drug and chemical factories   \n1,2-Dichloropropane  |  zero  |  0.005  |  Increased risk of cancer  |  Discharge from industrial chemical factories   \nDi(2-ethylhexyl) adipate  |  0.4  |  0.4  |  Weight loss, liver problems, or possible reproductive difficulties.  |  Discharge from chemical factories   \nDi(2-ethylhexyl) phthalate  |  zero  |  0.006  |  Reproductive difficulties; liver problems; increased risk of cancer  |  Discharge from rubber and chemical factories   \nDinoseb  |  0.007  |  0.007  |  Reproductive difficulties  |  Runoff from herbicide used on soybeans and vegetables   \nDioxin (  2,3,7,8-TCDD  )  |  zero  |  0.00000003  |  Reproductive difficulties; increased risk of cancer  |  Emissions from waste incineration and other combustion; discharge from chemical factories   \nDiquat  |  0.02  |  0.02  |  Cataracts  |  Runoff from herbicide use   \nEndothall  |  0.1  |  0.1  |  Stomach and intestinal problems  |  Runoff from herbicide use   \nEndrin  |  0.002  |  0.002  |  Liver problems  |  Residue of banned insecticide   \nEpichlorohydrin  |  zero  |  TT  8  |  Increased cancer risk, and over a long period of time, stomach problems  |  Discharge from industrial chemical factories; an impurity of some water treatment chemicals   \nEthylbenzene  |  0.7  |  0.7  |  Liver or kidneys problems  |  Discharge from petroleum refineries   \nEthylene dibromide  |  zero  |  0.00005  |  Problems with liver, stomach, reproductive system, or kidneys; increased risk of cancer  |  Discharge from petroleum refineries   \nGlyphosate  |  0.7  |  0.7  |  Kidney problems; reproductive difficulties  |  Runoff from herbicide use   \nHeptachlor  |  zero  |  0.0004  |  Liver damage; increased risk of cancer  |  Residue of banned termiticide   \nHeptachlor epoxide  |  zero  |  0.0002  |  Liver damage; increased risk of cancer  |  Breakdown of heptachlor   \nHexachlorobenzene  |  zero  |  0.001  |  Liver or kidney problems; reproductive difficulties; increased risk of cancer  |  Discharge from metal refineries and agricultural chemical factories   \nHexachlorocyclopentadiene  |  0.05  |  0.05  |  Kidney or stomach problems  |  Discharge from chemical factories   \nLindane  |  0.0002  |  0.0002  |  Liver or kidney problems  |  Runoff/leaching from insecticide used on cattle, lumber, gardens   \nMethoxychlor  |  0.04  |  0.04  |  Reproductive difficulties  |  Runoff/leaching from insecticide used on fruits, vegetables, alfalfa, livestock   \nOxamyl (Vydate)  |  0.2  |  0.2  |  Slight nervous system effects  |  Runoff/leaching from insecticide used on apples, potatoes, and tomatoes   \nPolychlorinated biphenyls (  PCBs  )  |  zero  |  0.0005  |  Skin changes; thymus gland problems; immune deficiencies; reproductive or nervous system difficulties; increased risk of cancer  |  Runoff from landfills; discharge of waste chemicals   \nPentachlorophenol  |  zero  |  0.001  |  Liver or kidney problems; increased cancer risk  |  Discharge from wood preserving factories   \nPicloram  |  0.5  |  0.5  |  Liver problems  |  Herbicide runoff   \nSimazine  |  0.004  |  0.004  |  Problems with blood  |  Herbicide runoff   \nStyrene  |  0.1  |  0.1  |  Liver, kidney, or circulatory system problems  |  Discharge from rubber and plastic factories; leaching from landfills   \nTetrachloroethylene  |  zero  |  0.005  |  Liver problems; increased risk of cancer  |  Discharge from factories and dry cleaners   \nToluene  |  1  |  1  |  Nervous system, kidney, or liver problems  |  Discharge from petroleum factories   \nToxaphene  |  zero  |  0.003  |  Kidney, liver, or thyroid problems; increased risk of cancer  |  Runoff/leaching from insecticide used on cotton and cattle   \n2,4,5-TP (  Silvex  )  |  0.05  |  0.05  |  Liver problems  |  Residue of banned herbicide   \n1,2,4-Trichlorobenzene  |  0.07  |  0.07  |  Changes in adrenal glands  |  Discharge from textile finishing factories   \n1,1,1-Trichloroethane  |  0.20  |  0.2  |  Liver, nervous system, or circulatory problems  |  Discharge from metal degreasing sites and other factories   \n1,1,2-Trichloroethane  |  0.003  |  0.005  |  Liver, kidney, or immune system problems  |  Discharge from industrial chemical factories   \nTrichloroethylene  |  zero  |  0.005  |  Liver problems; increased risk of cancer  |  Discharge from metal degreasing sites and other factories   \nVinyl chloride  |  zero  |  0.002  |  Increased risk of cancer  |  Leaching from PVC pipes; discharge from plastic factories   \nXylenes (total)  |  10  |  10  |  Nervous system damage  |  Discharge from petroleum factories; discharge from chemical factories   \n  \n###  **Selected Per- and poly-fluoroalkyl substances (PFAS)**\n\n  * [ PFAS rule references ](/sdwa/and-polyfluoroalkyl-substances-pfas)\n\nContaminant  |  MCLG  1  (  mg/L  )  2  |  MCL  1  (  mg/L  )  2  |  HBWC  9  (mg/L)  2  for [ Hazard Index Calculation ](/system/files/documents/2024-04/pfas-npdwr_fact-sheet_hazard-index_4.8.24.pdf) |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---|---  \n[ Hazard Index ](/system/files/documents/2024-04/pfas-npdwr_fact-sheet_hazard-index_4.8.24.pdf) PFAS (HFPO-DA, PFBS, PFHxS, and PFNA)  |  1(unitless)  |  1(unitless)  |  Not applicable  |  Low levels of multiple PFAS that individually would not likely result in increased risk of adverse health effects may result in adverse health effects when combined in a mixture. Increased health risks include liver, immune, and thyroid effects. Additionally, developmental and thyroid effects following repeated exposure during pregnancy and/or childhood.  |  Discharge from manufacturing and industrial chemical facilities, use of certain consumer products, occupational exposures, and certain firefighting activities.   \nHFPO-DA (commonly knowns as GenX Chemicals)  |  0.00001  |  0.00001  |  0.00001  |  Immune, liver and kidney effects; potential concern for cancer  Developmental effects following repeated exposure during pregnancy and/or childhood  |  Discharge from manufacturing and industrial chemical facilities, use of certain consumer products, occupational exposures, and certain firefighting activities.   \nPFBS  |  No individual MCLG  |  No individual MCL  |  0.002  |  See Hazard Index PFAS information  |  See Hazard Index PFAS information   \nPFHxS  |  0.00001  |  0.00001  |  0.00001  |  Immune, thyroid, and liver effects  Developmental effects following repeated exposure during pregnancy and/or childhood  |  Discharge from manufacturing and industrial chemical facilities, use of certain consumer products, occupational exposures, and certain firefighting activities.   \nPFNA  |  0.00001  |  0.00001  |  0.00001  |  Elevated cholesterol levels and immune and liver effects  Developmental effects following repeated exposure during pregnancy and/or childhood  |  Discharge from manufacturing and industrial chemical facilities, use of certain consumer products, occupational exposures, and certain firefighting activities.   \nPFOA  |  zero  |  0.0000040  |  Not applicable  |  Cardiovascular, immune and liver effects; increased incidence of certain types of cancers including kidney and testicular  Developmental and immune effects following repeated exposure during pregnancy and/or childhood  |  Discharge from manufacturing and industrial chemical facilities, use of certain consumer products, occupational exposures, and certain firefighting activities.   \nPFOS  |  zero  |  0.0000040  |  Not applicable  |  Cardiovascular, immune and liver effects; increased incidence of certain types of cancers including liver  Developmental and immune effects following repeated exposure during pregnancy and/or childhood  |  Discharge from manufacturing and industrial chemical facilities, use of certain consumer products, occupational exposures, and certain firefighting activities.   \n  \n* * *\n\n###  **Radionuclides**\n\n  * [ **Quick Reference Guide** ](http://nepis.epa.gov/Exe/ZyPDF.cgi?Dockey=30006644.txt)\n  * [ Radionuclides Rule Information and Summary ](/dwreginfo/radionuclides-rule)\n\nContaminant  |  MCLG  1  (  mg/L  )  2  |  MCL  or  TT  1  (  mg/L  )  2  |  Potential Health Effects from Long-Term Exposure Above the  MCL  (unless specified as short-term)  |  Sources of Contaminant in Drinking Water   \n---|---|---|---|---  \nAlpha particles  |  none ---------- zero  |  15 picocuries per Liter (  pCi/L  )  |  Increased risk of cancer  |  Erosion of natural deposits of certain minerals that are radioactive and may emit a form of radiation known as alpha radiation   \nBeta particles and photon emitters  |  none ---------- zero  |  4 millirems per year  |  Increased risk of cancer  |  Decay of natural and man-made deposits of  certain minerals that are radioactive and may emit forms of radiation known as photons and beta radiation   \nRadium 226 and Radium 228 (combined)  |  none ---------- zero  |  5  pCi/L  |  Increased risk of cancer  |  Erosion of natural deposits   \nUranium  |  zero  |  30  ug/L  as of 12/08/03  |  Increased risk of cancer, kidney toxicity  |  Erosion of natural deposits   \n  \n* * *\n\n##  Notes\n\n1  Definitions:\n\n  * Maximum Contaminant Level Goal (  MCLG  ) - The level of a contaminant in drinking water below which there is no known or expected risk to health. MCLGs allow for a margin of safety and are non-enforceable public health goals. \n  * Maximum Contaminant Level (  MCL  ) - The highest level of a contaminant that is allowed in drinking water. MCLs are set as close to MCLGs as feasible using the best available treatment technology and taking cost into consideration. MCLs are enforceable standards. \n  * Maximum Residual Disinfectant Level Goal (  MRDLG  ) - The level of a drinking water disinfectant below which there is no known or expected risk to health.  MRDLGs  do not reflect the benefits of the use of disinfectants to control microbial contaminants. \n  * Treatment Technique (  TT  ) - A required process intended to reduce the level of a contaminant in drinking water. \n  * Maximum Residual Disinfectant Level (  MRDL  ) - The highest level of a disinfectant allowed in drinking water. There is convincing evidence that addition of a disinfectant is necessary for control of microbial contaminants.   \n\n2  Units are in milligrams per liter (  mg/L  ) unless otherwise noted.\nMilligrams per liter are equivalent to parts per million (  PPM  ).  \n\n3  EPA's surface water treatment rules require systems using surface water or\nground water under the direct influence of surface water to\n\n  1. Disinfect their water, and \n  2. Filter their water, or \n  3. Meet criteria for avoiding filtration so that the following contaminants are controlled at the following levels: \n\n  * _Cryptosporidium_ : Unfiltered systems are required to include _Cryptosporidium_ in their existing watershed control provisions \n  * _Giardia lamblia_ : 99.9% removal/inactivation. \n  * Viruses: 99.99% removal/inactivation. \n  * _Legionella_ : No limit, but EPA believes that if _Giardia_ and viruses are removed/inactivated, according to the treatment techniques in the Surface Water Treatment Rule, _Legionella_ will also be controlled. \n  * Turbidity: For systems that use conventional or direct filtration, at no time can turbidity (cloudiness of water) go higher than 1 Nephelometric Turbidity Unit  (NTU)  , and samples for turbidity must be less than or equal to 0.3  NTUs  in at least 95 percent of the samples in any month. Systems that use filtration other than the conventional or direct filtration must follow state limits, which must include turbidity at no time exceeding 5  NTUs  . \n  * Heterotrophic Plate Count (  HPC)  : No more than 500 bacterial colonies per milliliter. \n  * Long Term 1 Enhanced Surface Water Treatment: Surface water systems or groundwater under the direct influence (  GWUDI  ) systems serving fewer than 10,000 people must comply with the applicable Long Term 1 Enhanced Surface Water Treatment Rule provisions (such as turbidity standards, individual filter monitoring, _Cryptosporidium_ removal requirements, updated watershed control requirements for unfiltered systems). \n  * Long Term 2 Enhanced Surface Water Treatment Rule: This rule applies to all surface water systems or ground water systems under the direct influence of surface water. The rule targets additional _Cryptosporidium_ treatment requirements for higher risk systems and includes provisions to reduce risks from uncovered finished water storage facilities and to ensure that the systems maintain microbial protection as they take steps to reduce the formation of disinfection byproducts. \n  * Filter Backwash Recycling: This rule requires systems that recycle to return specific recycle flows through all processes of the system's existing conventional or direct filtration system or at an alternate location approved by the state. \n\n4  No more than 5.0% samples total coliform-positive (  TC-positive  ) in a\nmonth. (For water systems that collect fewer than 40 routine samples per\nmonth, no more than one sample can be total coliform-positive per month.)\nEvery sample that has total coliform must be analyzed for either fecal\ncoliforms or _E. coli_ if two consecutive  TC-positive  samples, and one is\nalso positive for _E.coli_ fecal coliforms, system has an acute  MCL\nviolation.\n\n5  Fecal coliform and  _E. coli_ are bacteria whose presence indicates that\nthe water may be contaminated with human or animal wastes. Disease-causing\nmicrobes (pathogens) in these wastes can cause diarrhea, cramps, nausea,\nheadaches, or other symptoms. These pathogens may pose a special health risk\nfor infants, young children, and people with severely compromised immune\nsystems.\n\n6  Although there is no collective  MCLG  for this contaminant group, there\nare individual  MCLGs  for some of the individual contaminants:\n\n  * Trihalomethanes: bromodichloromethane (zero); bromoform (zero); dibromochloromethane (0.06  mg/L  ): chloroform (0.07  mg/L  . \n  * Haloacetic acids: dichloroacetic acid (zero); trichloroacetic acid (0.02  mg/L  ); monochloroacetic acid (0.07  mg/L  ). Bromoacetic acid and dibromoacetic acid are regulated with this group but have no MCLGs. \n\n7  Lead and copper are regulated by a treatment technique that requires\nsystems to control the corrosiveness of their water. If more than 10% of tap\nwater samples exceed the action level, water systems must take additional\nsteps. For copper, the action level is 1.3  mg/L  , and for lead is 0.010\nmg/L  .\n\n8  Each water system must certify, in writing, to the state (using third-party\nor manufacturer's certification) that when acrylamide and epichlorohydrin are\nused to treat water, the combination (or product) of dose and monomer level\ndoes not exceed the levels specified, as follows:\n\n  * Acrylamide = 0.05% dosed at 1  mg/L  (or equivalent) \n  * Epichlorohydrin = 0.01% dosed at 20  mg/L  (or equivalent) \n\n9  Health Based Water Concentration (HBWC) - To calculate the Hazard Index, a\nratio is developed for each PFAS by dividing the measured level of the PFAS in\ndrinking water by the level below which adverse health effects are not likely\nto occur (i.e., the Health Based Water Concentration).\n\n[ Contact Us ](/ground-water-and-drinking-water/forms/contact-us-about-ground-\nwater-and-drinking-water) to ask a question, provide feedback, or report a\nproblem.\n\nLast updated on December 12, 2024\n\n  * [ Assistance ](/lep/assistance)\n  * [ Spanish ](https://espanol.epa.gov/)\n  * [ Arabic ](/lep/arabic)\n  * [ Chinese (simplified) ](/lep/simplified-chinese)\n  * [ Chinese (traditional) ](/lep/traditional-chinese)\n  * [ French ](/lep/french)\n  * [ Haitian Creole ](/lep/sante-ak-anviwonman-enfomasyon-kreyol-ayisyen)\n  * [ Korean ](/lep/korean)\n  * [ Portuguese ](/lep/saude-e-informacoes-ambientais-em-portugues)\n  * [ Russian ](/lep/russian)\n  * [ Tagalog ](/lep/tagalog)\n  * [ Vietnamese ](/lep/vietnamese)\n\n##  Discover.\n\n  * [ Accessibility Statement ](/accessibility/epa-accessibility-statement)\n  * [ Budget & Performance ](/planandbudget)\n  * [ Contracting ](/contracts)\n  * [ EPA www Web Snapshot ](/utilities/wwwepagov-snapshots)\n  * [ Grants ](/grants)\n  * [ No FEAR Act Data ](/ocr/no-fear-act-data)\n  * [ Plain Writing ](/web-policies-and-procedures/plain-writing)\n  * [ Privacy ](/privacy)\n  * [ Privacy and Security Notice ](/privacy/privacy-and-security-notice)\n\n##  Connect.\n\n  * [ Data ](/data)\n  * [ Inspector General ](https://www.epaoig.gov/)\n  * [ Jobs ](/careers)\n  * [ Newsroom ](/newsroom)\n  * [ Regulations.gov ](https://www.regulations.gov/)\n  * [ Subscribe ](/newsroom/email-subscriptions-epa-news-releases)\n  * [ USA.gov ](https://www.usa.gov/)\n  * [ White House ](https://www.whitehouse.gov/)\n\n##  Ask.\n\n  * [ Contact EPA ](/home/forms/contact-epa)\n  * [ EPA Disclaimers ](/web-policies-and-procedures/epa-disclaimers)\n  * [ Hotlines ](/aboutepa/epa-hotlines)\n  * [ FOIA Requests ](/foia)\n  * [ Frequent Questions ](/home/frequent-questions-specific-epa-programstopics)\n  * Site Feedback \n\n##  Follow.\n\n  * [ ](https://www.facebook.com/EPA)\n  * [ ](https://x.com/epa)\n  * [ ](https://www.youtube.com/user/USEPAgov)\n  * [ ](https://www.flickr.com/photos/usepagov)\n  * [ ](https://www.instagram.com/epagov)\n\n  *[\n          NPDWR)\n         ]: National Primary Drinking Water Regulations\n  *[\n             MCLG\n            ]: Maximum Contaminant Level Goal\n  *[\n             MCL\n            ]: Maximum Contaminant Level\n  *[\n             TT\n            ]: Treatment Technique\n  *[\n             HPC\n            ]: Heterotrophic plate count\n  *[\n              HPC\n             ]: Heterotrophic plate count\n  *[\n             mg/L\n            ]: Milligrams per Liter\n  *[\n             HAA5)\n            ]: Haloacetic acids\n  *[\n             TTHMs\n            ]: Total Trihalomethanes\n  *[\n              Cl\n              \n               2\n              \n             ]: Chlorine\n  *[\n             MRDLG\n            ]: Maximum Residual Disinfectant Level Goal\n  *[\n             MRDL\n            ]: Maximum Residual Disinfectant Level\n  *[\n             Cl\n             \n              2\n             \n            ]: Chlorine\n  *[\n             ClO\n             \n              2\n             \n            ]: Chlorine dioxide\n  *[\n             MFL\n            ]: Million Fibers per Liter\n  *[\n             DBCP\n            ]: 1,2-Dibromo-3-chloropropane\n  *[\n             2,3,7,8-TCDD\n            ]: Dioxin\n  *[\n             PCBs\n            ]: Polychlorinated biphenyls\n  *[\n             pCi/L\n            ]: Picocuries per Liter\n  *[\n              ug/L\n             ]: microgram per liter\n  *[\n           MCLG\n          ]: Maximum Contaminant Level Goal\n  *[\n           MCL\n          ]: Maximum Contaminant Level\n  *[\n           MRDLG\n          ]: Maximum Residual Disinfectant Level \n\nGoal\n\n  *[\n           MRDLGs\n          ]: Maximum Residual \n\nDisinfectant Level Goal\n\n  *[\n           TT\n          ]: Treatment Technique\n  *[\n           MRDL\n          ]: Maximum Residual Disinfectant Level\n  *[\n          mg/L\n         ]: Milligrams per Liter\n  *[\n          PPM\n         ]: Parts per Million\n  *[\n           (NTU)\n          ]: Nephelometric \n\nTurbidity Unit\n\n  *[\n           NTUs\n          ]: Nephelometric Turbidity \n\nUnits\n\n  *[\n           HPC)\n          ]: Heterotrophic Plate Count\n  *[\n           GWUDI\n          ]: Groundwater Under The Direct Influence\n  *[\n          TC-positive\n         ]: Total Coliform-positive\n  *[\n          MCL\n         ]: Maximum Contaminant Level\n  *[\n          MCLG\n         ]: Maximum Contaminant Level \n\nGoal\n\n  *[\n          MCLGs\n         ]: Maximum Contaminant Level Goals\n  *[\n           mg/L\n          ]: Milligrams per Liter\n\n",
                "url": "https://www.epa.gov/ground-water-and-drinking-water/national-primary-drinking-water-regulations"
            },
            "reason": "This is a U.S. government website (EPA) detailing national primary drinking water regulations. It is a highly reliable source of regulatory information related to environmental compliance.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' risk regulatory compliance",
            "summary": "EPA's information on national primary drinking water regulations.",
            "url": "https://www.epa.gov/ground-water-and-drinking-water/national-primary-drinking-water-regulations"
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                    "resource_type": "webpage",
                    "source": "https://www.waterboards.ca.gov/laws_regulations/"
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                "page_content": "\n\n#  Laws and Regulations\n\n##  Quick Links\n\n  * Service of Process \n  * Laws & Regulations Relevant to Current Public Proceedings \n  * California Code of Regulations \n  * Final Amendments to Water Quality Petitions Regulations - Effective January 1, 2015 \n\n  * [ Water Quality Petitions ](../public_notices/petitions/water_quality/)\n  * Ex Parte Communications \n  * Additional Information \n  * Laws & Regulations Applicable to Conduct of Meetings and Proceedings \n\n[ Subscribe on-line ](/resources/email_subscriptions/) to our email lists and\nreceive updates on various topics.\n\n##  Service of Process\n\nIn lieu of personal service, the State Water Resources Control Board and the\nnine California Regional Water Quality Control Boards commit to accepting\nservice of summons via a notice of acknowledgment and receipt (Code of Civil\nProcedure section 415.30) if the notice and the papers being served are\nemailed to the following agency email address: [ OCC-Service-Of-\nProcess@waterboards.ca.gov ](mailto:OCC-Service-Of-Process@waterboards.ca.gov)\n\nFor questions related to service of subpoenas and other legal papers, please\nsend an email to the address above.\n\n##  Laws and Regulations Relevant to Current Public Proceedings\n\n  * [ California Water Code ](http://leginfo.legislature.ca.gov/faces/codesTOCSelected.xhtml?tocCode=WAT&tocTitle=+Water+Code+-+WAT)   \nThe official Water Code on the California Legislative Counsel Website\n\n  * [ California Health & Safety Code ](http://leginfo.legislature.ca.gov/faces/codesTOCSelected.xhtml?tocCode=HSC&tocTitle=+Health+and+Safety+Code+-+HSC)   \nThe official Health & Safety Code on the California Legislative Counsel\nWebsite, which contains provisions relating to drinking water and underground\nstorage tanks.\n\nThe State Water Board also maintains compilations of various laws relevant to\ndifferent areas of the water boards\u2019 responsibilities. While every effort is\nmade to ensure these compilations are accurate and up-to-date, you should\nconsult the official version of the California Code or the United States Code\nif in doubt.\n\n  * [ Statutory Water Rights Laws ](docs/wrlaws.pdf) \\- effective January 1, 2025   \nCalifornia Water Code (particularly Division 2) and other California Code\nsections relevant to water rights\n\n  * [ Porter-Cologne Water Quality Control Act ](docs/portercologne.pdf) \\- effective January 1, 2025   \nExcerpts of California Water Code, Division 7 (Water Quality)\n\n  * [ California Safe Drinking Water Laws ](docs/drinking-water-code.pdf) \\- effective January 1, 2025   \nExcerpts of California Health & Safety Code applicable to safe drinking water\nand environmental laboratory accreditation.\n\n  * [ Sustainable Groundwater Management Act (SGMA) & Groundwater Adjudications ](docs/4-4-2026-sgma-booklet.pdf) \u2013 effective January 1, 2025 Excerpts of the California Water Code, California Government Code, Title 23 of the California Code of Regulations, and the California Code of Civil Procedure related to SGMA and groundwater adjudications. \n  * [ Federal Clean Water Act ](docs/fedwaterpollutioncontrolact.pdf) \\- Title 33, U.S.C. sections 1251 and following  [Updated to include 2011 Amendments] \n  * [ Title 40 of the Code of Federal Regulations ](http://www.gpo.gov/fdsys/browse/collectionCfr.action?collectionCode=CFR&searchPath=Title+40%2FChapter+I&oldPath=Title+40&isCollapsed=true&selectedYearFrom=2010&ycord=1510) \\- Code of Federal Regulations, Title 40 (Protection of the Environment) maintained by the Government Printing Office \n  * [ Human Right to Water ](http://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=WAT&sectionNum=106.3) \\- effective January 1, 2013 California Water Code (Division 1, Section 106.3)   \nEstablishes that every human being has the right to safe, clean, affordable,\nand accessible water adequate for human consumption, cooking, and sanitary\npurposes.\n\nThe State Water Board's Division of Drinking Water (DDW) has a compilation of\nstatutes related to drinking water and recycled water. These are included in [\nDDW\u2019s Drinking Water Lawbook\n](/drinking_water/certlic/drinkingwater/Lawbook.shtml) .\n\n##  California Code of Regulations\n\n  * [ California Code of Regulations ](https://govt.westlaw.com/calregs/Index?bhcp=1&transitionType=Default&contextData=\\(sc.Default\\))   \nThe entire California Code of Regulations maintained by the California Office\nof Administrative Law (OAL)\n\n  * [ Title 27. Environmental Protection ](http://government.westlaw.com/linkedslice/default.asp?li=%7B2F6173EC-EA04-4F8A-96D3-92BA4F967A6E%7D&RS=GVT1.0&VR=2.0&SP=CCR-1000)   \nTitle 27 (Environmental Protection), Division 2, Subdivision 1 (Consolidated\nRegulations or Treatment, Storage, Processing or Disposal of Solid Waste) of\nthe California Code of Regulations on the OAL Website\n\n  * [ Plans and Policies ](../plans_policies/)   \nWater Quality Control Plans (Basin Plans) and State Policies for Water Quality\nControl have the legal force and effect of regulation.\n\nThe State Water Board also maintains compilations of regulations in different\nareas of the water boards\u2019 responsibilities. While every effort is made to\nensure these compilations are accurate and up-to-date, you should consult the\nofficial California Code of Regulations if in doubt.\n\n  * [ Title 23. Waters (Division 3) \u2013 Conflict of Interest Code for the State Water Board ](docs/conflict-of-interest-code.pdf) (2023) \n  * [ Title 23. Waters (Division 3) - Portions Pertaining to SGMA and Water Rights ](docs/ccr_ch16_202010.pdf) \\- effective January 1, 2021   \nExcerpts of the portions of Title 23 (Waters) of the California Code of\nRegulations pertaining to water rights laws and proceedings.  \nA more current version of SGMA statutes and regulations is available in the\nSustainable Groundwater Management Act (SGMA) & Groundwater Adjudications\nlink, above.\n\n  * [ Title 23. Waters (Division 3) - Meeting Regulations ](docs/waterboards_meeting_regs.pdf)   \nExcerpts of the portions of Title 23 (Waters) of the California Code of\nRegulations pertaining to meetings before the water boards.\n\n  * [ Title 27. Environmental Protection (Division 2) - Solid Waste ](../water_issues/programs/land_disposal/docs/t27w97j.pdf)   \nExcerpts of the portions of Title 27 (Environmental Protection) of the\nCalifornia Code of Regulations pertaining to Consolidated Regulations or\nTreatment, Storage, Processing or Disposal of Solid Waste.\n\nDDW has a compilation of regulations related to drinking water and recycled\nwater. These are included in [ DDW\u2019s Drinking Water Lawbook\n](/drinking_water/certlic/drinkingwater/Lawbook.html) .\n\n##  Final Amendments to Water Quality Petitions Regulations - Effective\nJanuary 1, 2015\n\n  * [ Full Text of Final Amendments ](docs/fnlamnd_eff010115.pdf) . Approved by State Water Boards on October 7, 2014. Approved by Office of Administrative Law on November 25, 2014. Effective January 1, 2015. \n  * [ Public Notice of October 7, 2014 Hearing ](docs/notice_wqpet092214.pdf) To Consider Adoption of Proposed Amendments to Water Quality Petition Regulations \n  * [ Transmittal Letter to Interested Parties Re: Regulations ](docs/transmittal_letter.pdf) \\- March 7, 2014 \n  * [ Notice of Proposed Rulemaking ](docs/proposed_rm2014feb.pdf) \\- February 2014 \n  * [ Initial Statement of Reasons ](docs/initial_sr2014feb.pdf) \\- February 2014 \n  * [ Full Text of Proposed Amendments ](docs/wqpetitionregs2014feb.pdf) to California Code of Regulations, Title 23. Waters. Division 3. State Water Resources Control Board. Chapter 6. Rules Governing Review By State Board of Action or Failure to Act By Regional Board - February 2014 \n\n##  Laws and Regulations Applicable to the Conduct of Board Meetings and\nAdjudicative Proceedings\n\n  * [ Bagley-Keene Open Meeting Act ](docs/bagleykeene.pdf) \\- effective January 1, 2024 \n  * [ Administrative Adjudication Statutes ](docs/occ_meeting_provisions.pdf) \\- effective January 1, 2024 \n  * [ Water Boards' Meeting Regulations ](docs/waterboards_meeting_regs.pdf) \\- effective January 1, 2008 \n  * [ Question and Answer Document on Adjudicative Proceedings ](docs/adjudicative_hearing_process.pdf)\n\n##  Water Quality Petitions\n\n  * [ Water Quality Petitions Web Page ](/public_notices/petitions/water_quality/index.shtml)   \nIncludes instructions for filing water quality petitions and opportunity to\ndownload electronic versions of water quality petitions are now available at\nthe Water Quality Petitions webpage.\n\n##  Ex Parte Communications\n\n  * [ Ex Parte Communications Questions and Answers ](docs/exparte.pdf) [Updated April 25, 2013 to include Question 45 concerning site visits and pending general orders] \n  * Ex Parte Communication Disclosure Form for General Orders [ [ Fill-In PDF Form and Instructions ](docs/exparte_form.pdf) ] \n    * If possible, please download the form, complete it electronically, then email it to the referenced email inbox. This will help us to distribute and post the forms to the State Board\u2019s website. \n\n_Note: This form is for ex parte communications to State Water Board members\nonly. For Regional Water Board communications, please go to the respective\nboard\u2019s website ([ www.waterboards.ca.gov/waterboards_map.shtml\n](../waterboards_map.shtml) ) _ .\n\n  * Pending General Orders Subject to Water Code Section 13287 Ex Parte Disclosure Requirements   \nBelow is a list of matters pending before the State Water Board subject to the\ndisclosure requirements of Water Code section 13287. Other pending orders or\nwater quality petitions, not in abeyance, before the State Water Board are\nsubject to the prohibition on ex parte communications.\n\nGeneral Order  |  Scheduled Adoption Meeting  |  **Ex Parte Prohibition in Effect**  \n---|---|---  \nGeneral Waste Discharge Requirements for Winery Process Water  |  January 20, 2021  |  January 13, 2021   \nGeneral NPDES Permit for Discharges from Utility Vaults and Underground Structures  |  October 21, 2014  |  October 7, 2014   \nAmendments to Aquatic Animal Invasive Species Control Permit  |  October 21, 2014  |  October 7, 2014   \nGeneral NPDES Permit for Discharges from Drinking Water Systems  |  November 4, 2014  |  October 21, 2014   \nRecycled Water Waste Discharge Requirements  |  June 3, 2014  |  May 26, 2014   \nCompost General Waste Discharge Requirements  |  N/A  |  N/A   \nPetitions A-2209(a)-(e) (Central Coast Water Board, Conditional Waiver for Irrigated Lands)  |  N/A  |  N/A   \nPetitions A-2239(a)-(c) (Central Valley Water Board, General Waste Discharge Requirements for Irrigated Agriculture in the East San Joaquin Watershed)  |  N/A  |  N/A   \nPetition A-2269 (Central Valley Water Board, General Waste Discharge Requirements for Irrigated Agriculture for Discharges Not Participating in Third-Party Groups)  |  N/A  |  N/A   \nPetitions A-2278(a)-(c) (Central Valley Water Board, General Waste Discharge Requirements for Irrigated Agriculture in the Tulare Lake Basin for Dischargers Participating in a Third-Party Group)  |  N/A  |  N/A   \nPetitions A-2283(a)-(b) (Central Valley Water Board, General Waste Discharge Requirements for Existing Milk Cow Dairies)  |  N/A  |  N/A   \nPetitions A-2751(a)\u2013(b) (Central Coast Water Board, General Waste Discharge Requirements for Discharges from Irrigated Lands)  |  N/A  |  N/A   \n  \n##  Additional Information\n\n  * [ Incompatible Activities Statement ](docs/incompatible_activities_statement.doc)\n  * [ Regulated Local Agencies ](docs/regagencies.doc)\n  * [ Waste Discharge Fee Schedules ](/resources/fees/) \\- Amended California Code of Regulations Title 23 \n  * [ SWRCB Conflict of Interest Code ](docs/conflict-of-interest-code.pdf) (effective 10/20/2023) \n\n(Page last updated 04/04/2025 )\n\n_Water is a precious resource in California, and maintaining its quality is of\nutmost importance to safeguard the health of the public and the environment._\n\n####  Statewide Campaigns\n\n  * [ EPA Water Sense ](https://www.epa.gov/watersense)\n  * [ Report an Environmental Concern ](https://calepacomplaints.secure.force.com/complaints/)\n  * [ Save Our Water ](https://saveourwater.com/)\n  * [ Flex Alert ](https://www.flexalert.org)\n  * [ Register to Vote ](https://registertovote.ca.gov/)\n\n[ ](https://covid19.ca.gov/)\n\n####  Quick Links\n\n  * [ Board Agendas ](/board_info/agendas/)\n  * [ Fees ](/resources/fees/)\n  * [ Make a Payment ](/make_a_payment/)\n  * [ Grievance Procedure ](/about_us/public_participation/participation_and_accommodation/#grievance_procedure)\n  * [ Help / Business Help ](/resources/help.html)\n  * [ Uniform Grants Guidance ](/uniform_grants_guidance/)\n\n[ ](https://www.grants.ca.gov/)\n\n####  [ Resources ](/resources/)\n\n  * [ OIMA ](/resources/oima/)\n  * [ CEDEN ](http://ceden.org)\n  * [ Data & Databases ](/resources/data_databases/)\n  * [ Drought Information ](/waterrights/water_issues/programs/drought/)\n  * [ FAAST ](https://faast.waterboards.ca.gov/)\n  * [ Language Access Form ](https://forms.office.com/g/M5PzfjQepk)\n  * [ Formulario de Acceso al Idioma ](https://forms.office.com/g/M5PzfjQepk)\n  * [ My Water Quality ](https://mywaterquality.ca.gov)\n  * [ Performance Report ](/about_us/performance_report/)\n  * [ Tribal Affairs ](/about_us/public_participation/tribal_affairs/)\n  * [ Wastewater Arrearage Payment ](/arrearage_payment_program/)\n  * [ Website Index ](/resources/website_index.html)\n\n####  Working with the Board\n\n  * [ Abbreviations and Acronyms ](/publications_forms/available_documents/water_words/acronyms.pdf)\n  * [ Board Priorities ](/board_info/priorities/)\n  * [ Decisions Pending &   \nOpportunities for Public Participation ](/board_info/calendar/)\n\n  * [ Employment ](/about_us/employment/)\n  * [ Frequently Asked Questions ](/resources/faqs/)\n  * [ Grants & Loans ](/water_issues/programs/grants_loans/)\n  * [ Laws / Regulations ](/laws_regulations/)\n  * [ Plans / Policies ](/plans_policies/)\n  * [ Public Records Center ](/resources/public_records/)\n  * [ Publications / Forms ](/publications_forms/)\n\n  * Back to Top \n  * [ Conditions of Use ](/conditions_of_use.html)\n  * [ Privacy Policy ](/privacy_policy.html)\n  * [ Accessibility ](/accessibility.html)\n  * [ Contact Us ](/about_us/contact_us/index.html)\n\n  * [ Facebook  ](https://www.facebook.com/CaliforniaWaterBoards)\n  * [ LinkedIn  ](https://www.linkedin.com/company/state-water-resources-control-board)\n  * [ X  ](https://x.com/CaWaterBoards)\n  * [ Instagram  ](https://www.instagram.com/ca.water.boards/)\n  * [ Board YouTube  ](https://www.youtube.com/user/BoardWebSupport)\n\n[ Website Accessibility Certification ](/docs/ed_cio_statement.pdf)  \n  \nCopyright \u00a9 State of California\n\nThe California Water Boards include the [ State Water Resources Control Board\n](https://www.waterboards.ca.gov) and nine [ Regional Boards\n](https://www.waterboards.ca.gov/waterboards_map.html)  \nThe State Water Board is one of six environmental entities operating under  \nthe authority of the California Environmental Protection Agency  \n[ CalEPA ](https://calepa.ca.gov) | [ ARB ](https://ww2.arb.ca.gov/) | [ CalRecycle ](https://www.calrecycle.ca.gov) | [ DPR ](https://www.cdpr.ca.gov) | [ DTSC ](https://www.dtsc.ca.gov) | [ OEHHA ](https://oehha.ca.gov/) | [ **SWRCB** ](https://www.waterboards.ca.gov)\n\n.\n\n",
                "url": "https://www.waterboards.ca.gov/laws_regulations/"
            },
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            "search_query": "company 'N/A' risk regulatory compliance",
            "summary": "California Water Boards' information on water laws and regulations.",
            "url": "https://www.waterboards.ca.gov/laws_regulations/"
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                    "resource_type": "webpage",
                    "source": "https://www.fca.org.uk/publications/corporate-documents/regulatory-initiatives-grid/interim-update"
                },
                "page_content": "Skip to main content  Skip to search box\n\n  1. [ Home ](/)\n  2. [ Publications ](/publications)\n  3. [ Regulatory Initiatives Grid ](/publications/corporate-documents/regulatory-initiatives-grid)\n  4. Regulatory Initiatives Grid - Interim update \n\n#  Regulatory Initiatives Grid - Interim update\n\nFirst published:  15/10/2024  Last updated:  15/10/2024\n\n[ Print Page ](/publications/corporate-documents/regulatory-initiatives-\ngrid/interim-update/printable/print \"Print Page\")\n\n[ Linkedin  ](https://www.linkedin.com/sharing/share-\noffsite?mini=true&url=https%3A//www.fca.org.uk/publications/corporate-\ndocuments/regulatory-initiatives-grid/interim-\nupdate&title=Regulatory%20Initiatives%20Grid%20-%20Interim%20update&summary=&source=FCA\n\"Publish this post to LinkedIn\")\n\n[ Twitter\n](https://twitter.com/share?url=https%3A//www.fca.org.uk/publications/corporate-\ndocuments/regulatory-initiatives-grid/interim-\nupdate&text=Regulatory%20Initiatives%20Grid%20-%20Interim%20update&summary=&source=FCA\n\"Share this on Twitter\")\n\n[ ](/cdn-cgi/l/email-\nprotection#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\n\"Share with Email\")\n\nShare page\n\nPublication of the eighth edition of the Grid was postponed due to the general\nelection. Due to the replanning required because of the change of government,\nthe Financial Services Regulatory Initiatives Forum (the Forum) will not be\nable to provide a complete grid this year.\n\nHowever, the Forum recognises that the Grid is a valuable tool for industry\nand stakeholders and is therefore providing an interim update.\n\nThis update covers known regulatory initiatives impacting firms from October\n2024 to March 2025. It is intended to support impacted firms and stakeholders\nin their planning.\n\nPlease note that not all items from the previous Grid are included in this\ninterim update. This is either due to uncertainty about timing or because they\nfall outside the covered period. Although we have included the most accurate\ninformation available, timings are subject to change.\n\nThe Forum is made up of representatives of: Bank of England (BoE), Competition\nand Markets Authority (CMA), Financial Conduct Authority (FCA), Financial\nReporting Council (FRC), HM Treasury (HMT) (Observer member), Information\nCommissioner\u2019s Office (ICO), Payment Systems Regulator (PSR), Prudential\nRegulation Authority (PRA), and The Pensions Regulator (TPR).\n\n[ Download Regulatory Initiatives Grid - Interim update (XLSX)\n](/publication/corporate/regulatory-initiatives-grid-interim-update.xlsx\n\"regulatory-initiatives-grid-interim-update.xlsx\")\n\nAll initiatives  Quarter 4 2024  Quarter 1 2025\n\n**Please note:**\n\nThis view allows users to see known regulatory initiatives impacting firms for\nthe whole period between October 2024 and March 2025. To focus on a specific\nperiod, choose these from the selection above.\n\nTo search key words (by sector, authority or quarter) use the search bar above\nthe table.\n\nExpand the number of individual entries visible by using the available drop-\ndown options next to \u2018Show\u2019.\n\nInitiatives that impact on a number of sectors within financial services have\nbeen captured under \u2018Multi-sector\u2019.\n\nInitiatives that have more than one publication planned within a given period\nwill be identified by an asterisk (*). For example, \u2018Q4 2024*\u2019 indicates there\nwill be separate publications in multiple months of the fourth quarter of\n2024.\n\nThere are instances where more than one publication is planned for a single\ninitiative across the two quarters covered in this update. Where this applies,\naffected initiatives will be labelled as \u2018Q4 2024 and Q1 2025\u2019 under the\nrelevant publication quarter.\n\n\ufeffSector  |  Sub-category  |  Lead Authority  |  Initiative or Publication name  |  Description of initiative  |  Publication Quarter  |  Was this initiative included in the previous Grid published in November 2023?  |  Has the timing of this initiative changed since the previous Grid published in November 2023?   \n---|---|---|---|---|---|---|---  \nMulti-sector  |  Cross-cutting / Omnibus  |  BoE/FCA/PRA  |  Transforming data collection (TDC)  |  Building on the learning from the joint transformation programme, the Bank and FCA are now planning several projects over the next 18 months to improve data collections. They contribute to five outcomes: (1) data collections meet and are proportionate to regulators\u2019 needs; (2) effective and efficient internal processes for creating data collections; (3) efficient processes and support for meeting regulatory obligations; (4) clear and consistent data definitions; and (5) modern systems to underpin data collections.The Bank and FCA are undertaking a range of specific workstreams to achieve these outcomes. The workstreams have been motivated by the recommendations from industry on how to improve data reporting.The new capabilities and insights will, in general, be applied to new data collections and during the introduction of new collection processes, or future reviews of existing collections. This will allow us to deploy the new capabilities built through TDC iteratively.The Bank will be publishing an Incident, Outsourcing and Third-Party Reporting (IOREP) consultation in Q4 2024.  |  Q4 2024  |  Yes  |  No   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  PRA/FCA  |  Diversity & Inclusion in Financial Services  |  Following the joint Discussion Paper (DP21/1) published in July 2021, the regulators (PRA, FCA) published their separate Consultation Papers on 25 September 2023, with policy proposals that aim to support progress on improving diversity and inclusion across the financial sector and, through the FCA\u2019s consultation, tackle non-financial misconduct (NFM). The FCA intends to publish a Policy Statement on 'Tackling Non-Financial Misconduct in the Financial Sector' around year-end 2024, to be followed by FCA and PRA Policy Statements on the remaining D&I proposals in 2025.  |  Q4 2024  |  Yes  |  Yes   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  HMT/FCA  |  ESG ratings regulation  |  Industry participants are increasingly reliant on third-party ESG ratings, as they integrate ESG considerations into their activities. With an aim of ensuring these products are delivered in a fair, effective, and transparent way. Treasury consulted in 2023 on bringing ESG ratings providers into the FCA\u2019s regulatory perimeter, and confirmed this year they would be looking to introduce legislation to that effect in 2025. Treasury will publish their consultation response by the end of 2024. As set out in our Feedback Statement (FS22/4), the FCA supports regulatory oversight of these providers and an approach informed by IOSCO's recommendations on ESG data and ratings. The FCA has also initiated an industry-led voluntary Code of Conduct to support good outcomes for both ESG ratings and data products.  |  Q4 2024  |  Yes  |  Yes   \nMulti-sector  |  Operational Resilience  |  PRA/BoE/FCA  |  Oversight of Critical Third Parties (CTPs).Final Rules for CTPs, Two Supervisory Statements, Policy Statement and the approach to oversight of CTP publication.  |  The Bank, PRA and FCA published a joint Consultation Paper (CP) in December 2023. The CP set out the regulatory proposals relating to Critical Third Parties using the powers granted to the supervisory authorities' in FSMA 2023. The CP set out proposals of how regulators could assess and strengthen the resilience of services provided by CTPs to firms and FMIs (Financial Markets infrastructure), thereby reducing the risk of systemic disruption. Following responses to the CP, the regulators will publish: \n\n  1. The regulators' final rules for critical third parties (CTPs), which are set out in the following rule instruments: Bank of England Rulebook: Critical Third Parties Instrument 2024; Bank of England Rulebook: Critical Third Parties Emergency Provisions Instrument 2024; PRA Rulebook: Critical Third Parties Instrument 2024; and FCA Handbook: Critical Third Parties Instrument 2024. \n  2. FCA Statutory Instrument related to Critical Third Parties enforcement, which was consulted on separately in \u201cQuarterly Consultation Paper (QCP) on Critical Third Parties \u2013 Statement of Policy relating to Disciplinary Measures\u201d. \n  3. Supervisory Statement (SS): Operational resilience: Critical third parties to the UK financial sector (CTP SS). \n  4. Supervisory Statement (SS) : Reports by skilled persons: Critical Third Parties\u2019 (CTP s166 SS). \n  5. Policy Statement (PS) Operational resilience: Critical third parties to the UK financial sector. \n  6. The Regulators\u2019 approach to the oversight of Critical Third Parties setting out how the regulators intend to use the oversight powers granted to us by legislation \n\n|  Q4 2024*  |  Yes  |  No   \nMulti-sector  |  Conduct  |  ICO  |  Employment guidance  |  New guidance about how to comply with data protection law when keeping records about your workers and to promote good practice.  |  Q4 2024  |  Yes  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  FCA  |  Review of firms' treatment of customers in vulnerable circumstances  |  We are assessing firms\u2019 approaches to the treatment of customers in vulnerable circumstances. We want to explore how firms are meeting expectations of our 2021 Guidance for firms on the fair treatment of vulnerable customers and understand how this maps to the Consumer Duty outcomes and requirements.  |  Q1 2025  |  Yes  |  Yes   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  FRC  |  Stewardship review and Code consultation:Consultation: UK Stewardship CodeRevised UK Stewardship Code  |  FRC will review the UK Stewardship Code and engage with other relevant regulators with responsibility for the regulatory framework for stewardship.  |  Q4 2024 & Q1 2025  |  Yes  |  No   \nMulti-sector  |  Financial Resilience  |  BoE  |  System-Wide Exploratory Scenario Exercise (SWES): Final report  |  The System-Wide Exploratory Scenario exercise will investigate the behaviours of banks and non-bank financial institutions in stress, and how these can amplify shocks in markets and potentially bring about risks to UK financial stability. The Bank is working closely with the FCA and TPR on this.  |  Q4 2024  |  Yes  |  Yes   \nMulti-sector  |  Conduct  |  FCA  |  External Redress Guidance  |  Review of rules and guidance to firms when identifying harm and conducting firm led redress exercises. We are planning to publish a CP on proposed rules and guidance relating to expectations of firms identifying and conducting firm led redress exercises. This will cover the idenitfication and reporting of harm, guidance on rectifying harm and proactive redress exercises.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Conduct  |  ICO  |  Guidance on Cloud Computing  |  This guidance will provide an update to our 2012 guidance on cloud computing. We expect this guidance update to also influence privacy best practice in light of other domestic and international regulatory activity on the cloud domain and to be of interest to financial services firms.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  BoE/PRA  |  (1) The Bank of England\u2019s approach to enforcement \u2013 Policy Statement(2) The Bank of England\u2019s approach to enforcement: statements of policy and procedure November 2024  |  The Bank and the PRA consulted earlier in 2024 (28 March to 28 June 2024) on the approaches to using its enforcement powers in relation to critical third parties, securitisation, wholesale cash distribution and digital settlement assets. Each proposes using its existing approach to enforcement, insofar as possible, in relation to relevant areas. The Bank will publish a Policy Statement, setting out its feedback on the responses to the consultation, and an updated version of its approach to enforcement policy and procedure.  |  Q4 2024*  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Technical Actuarial StandardsConsultation: Revision of TAS 300 (funding code)  |  The FRC regularly review the Technical Actuarial Standards (TAS) and other actuarial standards to ensure they continue to support the delivery of high-quality technical actuarial work and satisfy the Reliability Objective.Revised TAS 100 and TAS 400 have now been published and are effective from July 2023. Revised TAS 300 and TAS 310 (Pensions) have now been published and are effective from April 2024 and Sept 2024 respectively. The consultation on TAS 200 closed in May 2024.  |  Q1 2025  |  Yes  |  No   \nMulti-sector  |  Operational resilience  |  PRA/BoE/FCA  |  Incident and Outsourcing and Third Party Reporting: Consultation Paper  |  The purpose of this policy would be to introduce clarity regarding the information firms should submit when operational incidents occur. It will also collect certain information on firms\u2019 outsourcing and third party arrangements in order to manage the risks they may present to the PRA/FCA\u2019s objectives, including resilience, concentration and competition risks.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Periodic Review of Financial Reporting Standards 102  |  UK and Ireland accounting standards are subject to periodic reviews, at least every five years, to ensure they remain up-to-date and continue to require high-quality and cost effective financial reporting from entities within their scope. The second periodic review commenced in March 2021. A Financial Reporting Exposure Draft (FRED) was published in Dec 2022 and the final amendments to the Standard was published in March 2024 with an effective date of 1 January 2026 for most provisions. Staff Factsheets (additional guidance to help understanding around the changes to FRS 102).  |  Q4 2024  |  Yes  |  No   \nMulti-sector  |  Conduct  |  ICO  |  Data Protection Assurance Toolkit  |  This toolkit will help financial services firms to assess their own compliance with some of the key requirements under data protection law. It covers a range of areas that we look at when we assess an organisation\u2019s data protection compliance using our audit toolkits to conduct both consensual and compulsory audits.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Annual Review of Financial Reporting Standards 101  |  Financial Reporting Standards (FRS) 101, the reduced disclosure framework, is reviewed annually to ensure it remains up-to-date and appropriately considers updates to IFRS accounting standards.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Guidance on the Going Concern Basis of Accounting and Related Reporting  |  The FRC will review the existing Guidance on the Going Concern Basis of Accounting and Reporting on Solvency and Liquidity Risk (2016). The consultation on the exposure draft (\"Guidance on the Going Concern Basis of Accounting and Related Reporting\") was published in August and will close in October 2024.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Revision of ISA (UK) 250  |  ISA (UK) 250 deals with the auditor\u2019s responsibilities in respect of law and regulation. The proposals consulted on will help to strengthen auditor requirements to detect and report material misstatements from non-compliance with laws and regulations, and to clarify instances where auditors should report such breaches, and other significant matters, to the relevant regulators.This will enhance the useability and informativeness of the audit and provide greater assurance to users of financial statements that potential material misstatements have been properly assessed by the auditor.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Revision of ISA (UK) 700 series: Consultation  |  The ISA (UK) 700 series relate to the auditor reporting standards. Further stakeholder outreach is being carried out on proposed changes to the standards, which are designed to better meet investor and other stakeholder information needs, as well as de-cluttering and simplifying requirements.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  FRC XBRL Taxonomy Suite  |  The XBRL Taxonomy Suite is reviewed annually to ensure it remains up-to-date with reporting standards and fit for purpose for preparers and developers.2025 XBRL Taxonomy Suite and feedback statement.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  PRA  |  Updating Supervisory Statement 3/19 on the management of climate-related risks - Consultation Paper  |  Updating 3/19 to consolidate public feedback since 2019 on the management of climate related risks and to bring the expectations into closer alignment with international standards.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  FCA  |  Review of FCA requirements following the introduction of the Consumer DutyFeedback Statement  |  We have published a Call for Input seeking views on whether, where, and how, under the Consumer Duty, we can simplify our requirements on firms while ensuring we continue to support and protect consumers. We want to facilitate innovation and flexibility, reducing costs for firms, driving effective competition and supporting our Secondary International Competitiveness and Growth Objective.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Conduct  |  FCA  |  Review of Debt Advice Rules (CONC 8) Consultation Paper  |  Review our debt advice rules to ensure they set the right framework for good quality debt advice.  |  Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  Leverage Ratio: Review of thethresholds for application of the requirement - Consultation Paper  |  The Leverage Ratio \u2013 Capital Requirements and Buffers Part requires firms with more than \u00a350bn retail deposits or \u00a310bn non-UK assets to meet a minimum leverage ratio of 3.25% plus buffers at all times. As announced on 10 September, the PRA is reviewing these thresholds. If this review identifies a need for changes, the PRA expects to publish a consultation paper in Q1 2025.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Conduct  |  FCA  |  Evaluation of the persistent debt intervention  |  An impact evaluation of the effect of the persistent debt intervention that followed the Credit Card Market Study. This came into effect in September 2018.  |  Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Financial Resilience  |  PRA/HMT  |  Final reporting taxonomy for Basel 3.1 (implementation of the remaining Basel 3 banking standards)  |  Final version of the reporting taxonomy for the technical implementation of Basel 3.1.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  A strong and simple prudential framework for non-systemic banks and building societies - Capital requirements for Small Domestic Deposit Takers (previously 'Simpler-regime Firms')Policy Statement  |  Developing policy to simplify prudential regulation for non-systemic and domestic banks and building societies in the UK, while maintaining resilience. Includes working with the FCA on corresponding changes to their Handbook where needed. As part of this work, the PRA will review these rules to assess if they are operating effectively and delivering their intended impact. Final policy on arrangements for the Interim Capital Regime will be published in Q4 2024 and along with the Basel 3.1 Final Policy Statement in Q1 2025.  |  Q4 2024 & Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Competition, innovation and other  |  PRA  |  Review of the FSCS deposit protection limit  |  The PRA is required to complete a review of the Financial Services Compensation Scheme deposit protection limit by December 2025. The PRA expects to publish a consultation paper in connection with this review in Q1 2025.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Financial Resilience  |  BoE  |  2024 desk-based stress testFinancial Stability Report  |  To support the FPC\u2019s and PRA's monitoring and assessment of the resilience of the UK banking system to potential downside risks, the Bank will run a desk-based stress test exercise in 2024. The outcome of the desk-based test will be used to inform the FPC\u2019s judgements about the ability of the banking system to support the economy through stress and support the PRA\u2019s ongoing supervisory work. The aggregate results will be communicated publicly. The Bank will not publish results at the level of individual banks.  |  Q4 2024  |  No  |  No   \nBanking, credit and lending  |  Cross-cutting/omnibus  |  BoE  |  Remuneration Review CP  |  Following the removal of the bonus cap (October 2023), and amendments that enhance proportionality for small firms (December 2023), the PRA (jointly with the FCA) is continuing to review the remuneration regime which is a combination of EU and domestic policies. In line with their primary and secondary objectives, the PRA and FCA will look to amend elements of the regime to make them more effective and proportionate. The potential adjustments will maintain the regime\u2019s overall structure and objectives which is based on the internationally-agreed Financial Stability Board Principles. As part of this work, the PRA and FCA will review these rules to assess if they are operating effectively and delivering their intended impact.  |  Q4 2024  |  No  |  No   \nBanking, credit and lending  |  Financial Resilience  |  PRA  |  Streamlining the Pillar 2A capital framework and the capital communications process - Policy Statement  |  Further to the Consultation Paper (CP9/24) published in Sep 2024, the PRA will issue a policy statement on streamlining firm-specific capital communications in Q1 2025, followed by a policy statement on retiring the refined methodology to Pillar 2A and a policy statement on retiring the refined methodology to Pillar 2A in Q2 2025.  |  Q1 2025  |  No  |  N/A   \nBanking, credit and lending  |  Financial Resilience  |  PRA  |  Bank Resolution (Recapitalisation) Bill ImplementationConsultation Paper  |  PRA depositor protection rule changes to implement legislative changes made under the Bank Resolution (Recapitalisation) Bill. We expect the Bill to introduce a new resolution tool utilising FSCS funding which will require consequential changes to the depositor protection rulebook to facilitate this.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  Banking Disclosure / Implementation of disclosure templates  |  PRA Implementation of Basel disclosure templates.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Financial Resilience  |  BoE/HMT/PRA  |  Basel 3.1 final policy statement (implementation of the remaining Basel 3 banking standards)  |  Final rules for UK implementation of the final Basel III banking standards (also known as Basel 3.1). This initiative follows the publication of two near-final policy statements in December 2023 and September 2024 as part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.  |  Q1 2025  |  Yes  |  No   \nBanking, credit and lending  |  Financial Resilience  |  BoE/HMT/PRA  |  Final reporting taxonomy for Basel 3.1 (implementation of the remaining Basel 3 banking standards)  |  Final version of the reporting taxonomy for the technical implementation of Basel 3.1.  |  Q1 2025  |  No  |  No   \nPensions and Retirement Income  |  N/A  |  FCA  |  Regulatory framework for pensions dashboards operators - tied to the introduction of a new regulated activity by TreasuryPolicy Statement  |  In March 2024, Treasury introduced a new regulated activity to bring Pensions Dashboard Service operators within the FCA perimeter, and subject to FCA rules.  |  Q4 2024  |  Yes  |  Yes   \nPensions and Retirement Income  |  N/A  |  TPR  |  DB scheme funding  |  TPR consultation on regulatory framework for DB scheme funding and associated approach. Regulations have been laid, so that schemes with effective dates from September will need to submit a statement of strategy to TPR. TPR laid Code in Parliament on 29 July 2024 and is expected to come into force in November 2024. Q4 2024 Covenant guidance published and full response to statement of strategy consultation (interim response and templates published in September 2024).  |  Q4 2024  |  Yes  |  Yes   \nPensions and Retirement Income  |  N/A  |  FCA/HMT  |  Advice Guidance Boundary Review  |  The FCA and Treasury are jointly carrying out a holistic review of the boundary between financial advice and guidance. As part of this, the FCA is exploring what support needs to be provided to consumers in relation to their pension.We are aiming for an FCA consultation paper (without rules) on targeted support in pensions in Winter 2024. We will also be exploring wider changes to the existing pensions regime.  |  Q4 2024  |  Yes  |  Yes   \nPensions and Retirement Income  |  N/A  |  FRC  |  Actuarial Standard Technical Memorandum 1Consultation: Revision of AS TM1Feedback statement: Revision of AS TM1  |  Actuarial Standard Technical Memorandum 1 (AS TM1) specifies the assumptions and methods to be used in illustrations of money purchase/defined contribution pensions. AS TM1 and the appropriateness of the assumptions set out within are reviewed annually to ensure they remain fit for purpose.  |  Q4 2024 & Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  FCA  |  Regulation of the commercial insurance marketConsultation Paper  |  Consulting on rules and guidance focused on ensuring an appropriate balance between consumer protection and competitiveness in light of certain characteristics of the commercial insurance market, including the London market.  |  Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Life Insurance StressTest 2025: Scenario Calibrations, finalised instructions, guidelines and templates for firms. This publication will launch the exercise.  |  Major life insurers participate in regular stress testing prescribed by the PRA and the next test will be in 2025. The objectives of the life insurance stress test are to: (1) assess sector and individual firm resilience to severe but plausible events; (2) strengthen market understanding and discipline through individual firm publication; and, (3) improve insight into risk management vulnerabilities.In 2025, the PRA will publish individual firm results. This will help inform the PRA, as well as other stakeholders, about sector and individual firm resilience, and the vulnerabilities to which firms are exposed in the scenarios we set out.The PRA has been engaging with the industry and disclosure users over the past 18 months on both scenario design and disclosure for the 2025 exercise. The PRA published an \u201cApproach to LIST 2025\u201d alongside methodological guidance for the firms on 10 July 2024.  |  Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Dynamic General Insurance Stress Test 2025 \u2013 Industry Workshop  |  The PRA intends to run a dynamic general insurance stress test (DyGIST) in 2025. The objectives of the exercise will be to: (1) assess the industry\u2019s solvency and liquidity resilience to a specific adverse scenario; (2) assess the effectiveness of insurers\u2019 risk management and management actions following an adverse scenario; and (3) inform the Prudential Regulation Authority's (PRA) supervisory response following a market-wide adverse scenario.The dynamic nature of the 2025 exercise represents a significant change from previous exercises and will involve simulating a sequential set of adverse events over a short period of time. Consequently, the PRA has engaged with the industry including trade bodies. We provided more details of this exercise (including participation, design, and timelines) in a statement published on 15 July 2024.Results of this exercise will be disclosed at an aggregate industry level.  |  Q4 2024  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Review of Solvency II: Reporting and disclosure Phase 3 - Liquidity reporting requirementsConsultation Paper  |  The PRA is improving its regulation and supervision of insurers\u2019 liquidity risks. Its current initiative is developing proposals to introduce new reporting requirements for insurance firms with the most material exposures to liquidity risk. This will enable us to more effectively supervise insurers\u2019 liquidity risk by providing timely, consistent and accurate information.  |  Q4 2024  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  FCA  |  Pure Protection Market Study  |  The FCA intends to launch a market study into how pure protection insurance products are distributed following concerns that competition is not working well in the market. The study will be launched later in 2024/25.  |  Q1 2025  |  No  |  NA   \nInsurance and reinsurance  |  N/A  |  BoE/PRA  |  Increasing ease of exit: Solvent exit planning for insurers - Policy Statement  |  Greater preparedness by insurers for solvent exit supports an orderly cessation of PRA-regulated activities and reduces the risk of market disruption from disorderly or protracted exits. A solvent exit results in improved outcomes for policyholders and supports effective competition by allowing new entrants in and non-viable firms out.  |  Q4 2024  |  Yes  |  Yes   \nInsurance and reinsurance  |  |  PRA  |  FSCS General Insurance Limit Review - Discussion Paper  |  Discussion Paper on changing the level of FSCS protection for general insurance products and amending the definition of small business. The PRA is considering the responses and its next steps. As part of this work, the PRA will review these rules to assess if they are operating effectively and delivering their intended impact.  |  Q1 2025  |  No  |  No   \nWholesale Financial Markets  |  N/A  |  PRA/FCA  |  PRA/FCA consultation on margin requirements for non-centrally cleared OTC derivatives (equity options)  |  In Policy Statements PS18/23 and PS23/19, the PRA and FCA extended the temporary exemption for single-stock equity options and index options from the UK bilateral margin requirements until 4 January 2026. The PRA and FCA also set out their intention to assess the best permanent framework for the UK. The PRA and FCA intend to consult and provide the final framework before the current temporary exemption ends.  |  Q1 2025  |  No  |  No   \nWholesale Financial Markets  |  Cross-cutting/omnibus  |  BoE  |  Consultation on Fundamental rules for FMIs  |  Consultation on rules and a supervisory statement, establishing Fundamental Rules for FMIs (CCPs, CSDs, recognised payments systems operators and specified service providers). These are a set of high level requirements on FMIs covering the full range of the regulatory framework, comparable to those already in place for PRA firms. They are designed to help make our regulatory approach as transparent as possible and to set out to the industry the fundamental principles that underpin the rulebook and what we require of firms. They will underpin the existing regulatory framework for FMIs and so help firms anticipate how we will assess their compliance with more specific rules.  |  Q4 2024  |  No  |  No   \nInvestment Management  |  N/A  |  FCA  |  Payment optionality for investment research for pooled vehiclesConsultation Paper  |  Allowing funds to take advantage of the new payment option for investment research that applies to MiFID managers for segregated accounts.  |  Q4 2024  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Capital deduction for redress: personal investment firmsPolicy Statement  |  The FCA has consulted on policy proposals to require personal investment firms to set aside capital for potential redress liabilities at an early stage.  |  Q4 2024  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Review of the prudential regime for Personal Investment FirmsConsultation Paper  |  Reviewing the appropriateness of the prudential requirements for personal investment firms - potentially leading to including capital and liquidity thresholds and risk management requirements.  |  Q1 2025  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Review of the definition of regulatory capital used in MIFIDPRUConsultation Paper  |  MIFIDPRU, the prudential sourcebook for solo-regulated investment firms, defines regulatory capital through a number of cross-references to a 'frozen in time' version of the UK Capital Requirements Regulation. We intend to remove these references, bringing the definition into MIFIDPRU while amending it where necessary to be more applicable to investment firms.  |  Q1 2025  |  Yes  |  Yes   \nRetail Investments  |  N/A  |  FCA  |  Investment Advice Assessment Tool  |  External publication of a tool currently used internally to assess investment advice, other than defined benefit or Retirement Income.  |  Q4 2024  |  No  |  No   \nPayments and cryptoassets  |  |  BoE  |  Supervisory approach to wholesale cash (published)Enforcement Policy Statement  |  The Bank outlines how it will use new powers to ensure wholesale cash distribution remains effective, resilient and sustainable into the future.  |  Q4 2024  |  Yes  |  No   \nPayments and cryptoassets  |  N/A  |  FCA  |  Consultation on FCA guidance changes reflecting Treasury's legislation on risk based approach to paymentsConsultation and Finalised Guidance  |  The FCA will revise the guidance and consult on proposed changes further to Treasury's amendment of the PSRs 2017 allowing firms to delay payments if suspicion of fraud or dishonesty.  |  Q4 2024*  |  No  |  No   \nPayments and cryptoassets  |  N/A  |  BoE  |  CCP Resolution - The Bank of England\u2019s approach to determining what commercially reasonable payments would be made in the event of the Bank exercising tear-up powers in the resolution of a central counterparty (CCP)Summary of consultation responses and final Statement of Policy  |  Schedule 11 to the Financial Services and Markets Act 2023 gives The Bank the power to make tear-up instruments in the resolution of a CCP. Schedule 11 requires the Bank to publish by end 2024 a statement of policy as to how it would determine what commercially reasonable payments would be made should the Bank use its tear up power in the resolution of a CCP. The Bank has published a consultation on how it would determine a commercially reasonable payment for a torn-up contract.The Bank may also consult on further proposed CCP resolution policy in due course.  |  Q4 2024*  |  No  |  No   \nPayments and cryptoassets  |  N/A  |  BoE  |  CCP Resolution \u2013 The Bank of England\u2019s power to direct a CCP to address impediments to resolvabilitySummary of consultation responses and final Statement of Policy  |  Schedule 11 to the Financial Services and Markets Act 2023 gives The Bank power to direct a CCP to take measures to address impediments to the effective exercise of the stabilisation powers.The Bank has published a consultation on the process it would follow to direct a CCP to address impediments to resolvability and intends to publish a final Statement of Policy in December 2024.  |  Q4 2024*  |  No  |  No   \nPayments and cryptoassets  |  N/A  |  PSR  |  Market review of card scheme and processing fees  |  The aim of the market review is to understand if the supply of scheme and processing services are working well, having regard to our competition, innovation and protection of service-users objectives.  |  Q1 2025  |  Yes  |  Yes   \nPayments and cryptoassets  |  N/A  |  PSR  |  Market review of cross-border interchange fees  |  A market review to understand the rationale for the five-fold increase in cross-border interchange fees (that affects certain card transactions between the UK and the EEA, where the cardholder is not present) since the UK left the EU and whether they are an indication that the market is not working well.  |  Q4 2024  |  Yes  |  Yes   \nWholesale Financial Markets  |  N/A  |  HMT/FCA/PRA  |  Wholesale Markets ReviewPublication of the Policy Statement and final rules on the consultation CP23/32 on \"Improving transparency for bond and derivatives markets\"  |  The Financial Services and Markets Act 2023 (FSMA 2023) received Royal Assent on 29 June 2023. FSMA 2023 is a key milestone in delivering the commitments set out in March 2022 in the consultation response to the Wholesale Markets Review (WMR), the review of wholesale markets Treasury and the FCA conducted in 2021.The FCA published the policy statement on improving equity markets (PS 23/4) in May 2023, and the guidance on the trading venue perimeter (PS23/11) in July 2023. The FCA published the framework for a UK consolidated tape, including on payment to data providers, in December 2023 and April 2024 (CP 23/33 and Handbook Notice 117). The FCA published consultations on changes to the commodity derivatives regime (CP23/27) and the transparency regime for bonds and derivatives (CP23/32) in December 2023.  |  Q4 2024*  |  No  |  No   \nWholesale Financial Markets  |  N/A  |  HMT/FCA  |  Prospectus Regime ReformTwo CPs on further Public Offers and Admissions to Trading Regulation (POATR) rules including consequential changes relating to public offer platforms and additional proposals for admissions to regulated markets, including for non-equity securities, following CP24/12 and CP24/13 published on 26 July 2024.  |  The Government consulted in 2021 and laid a SI in Q1 2024 on reforms to make the UK\u2019s prospectus regime simpler, more agile, and more effective; this was a recommendation of the Lord Hill's UK Listings Review. These reforms will be delivered through a statutory instrument (SI) which sets the framework for a new Prospectus Regime, replacing the Prospectus Regulation inherited from the EU. The FCA will write detailed rules to accompany the framework set out by this SI, which will also address certain recommendations from the Secondary Capital Raising Review.  |  Q1 2025*  |  Yes  |  Yes   \nInsurance and reinsurance  |  N/A  |  PRA  |  Solvency II remainderPolicy Statement  |  This is the final PRA publication needed to implement the conclusions of the Solvency II Review, as set out in CP5/24 (and originally in CP12/23), and to finalise PRA rules and other policy materials that will replace Solvency II assimilated law which forms part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.This Policy Statement proposes the restatement into PRA policy material of those parts of the Solvency II regime which have not already been subject to consultation as part of the Solvency II Review. It sets out how the PRA proposes to restate these Solvency II requirements from assimilated law into the PRA Rulebook and other policy material such as Supervisory Statements (SSs) or Statements of Policy (SoPs) ('PRA policy material').  |  Q4 2024  |  Yes  |  Yes   \nRetail Investments  |  N/A  |  HMT/FCA  |  The Packaged Retail and Insurance-Based Investment Products (PRIIPs) Regulation / Consumer Composite Investments (CCIs)Consultation Paper  |  Repeal and replace assimilated law, The Packaged Retail and Insurance-Based Investment Products (PRIIPS) Regulation, with a new UK retail disclosure regime, the Consumer Composite Investments (CCIs) regime, that works effectively with the UK\u2019s dynamic capital markets and fosters informed retail investor participation in those markets.  |  Q4 2024  |  Yes  |  No   \nBanking, credit and lending  |  Financial Resilience  |  HMT/PRA  |  Repeal and replace in the PRA Rulebook the remainder of the Capital Requirements Regulation (CRR) - Remainder  |  Transferring the remaining firm-facing Capital Requirements Regulation (CRR) requirements into the PRA Rulebook and other policy materials, as part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.  |  Q4 2024  |  Yes  |  No   \nBanking, credit and lending  |  Financial Resilience  |  HMT/BoE/PRA  |  UK Capital Requirements Regulation (CRR) Total loss-absorbing capacity (TLAC) transfer  |  Transfer of TLAC provisions from UK CRR under FSMA 2023 and revision of BoE\u2019s MREL Statement of Policy (SoP). This initiative forms part of the programme to replace assimilated law under the Smarter Regulatory Framework (SRF). Revocation of TLAC provisions in UK CRR using FSMA 2023 powers and restatement (with modifications) and other changes in a revised and expanded version of BoE\u2019s MREL Statement of Policy (SoP), as part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.  |  Q4 2024  |  Yes  |  No   \nWholesale Financial Markets  |  N/A  |  HMT/FCA  |  MiFIR related to Transaction Reporting - Discussion Paper  |  The repeal and replacement, where appropriate, of assimilated law related to transaction reporting to the FCA. The FCA intends to publish a Discussion Paper on the UK's transaction reporting regime in Q4 2024.  |  Q4 2024  |  No  |  No   \nWholesale Financial Markets  |  Cross-cutting/omnibus  |  BoE  |  Publication of the Bank's approach to financial market infrastructure supervision  |  Publication of supervisory approach document that sets out how the Bank carries out its role in respect of supervision of Financial Market Infrastructure. This document will aid accountability by describing what we seek to achieve and how we intend to achieve it. It will also communicate to regulated FMIs what we expect of them, and what they can expect from us in the course of supervision. It sits alongside our requirements and expectations as published in our policy publications as well as the rules, standards and codes of practice that FMIs are subject to.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  FCA  |  Proposed Revised Enforcement Guide  |  The FCA has consulted on a revised Enforcement Guide. As we set out in September 2024, we will publish further information in Q4 2024, including case studies, as we continue to engage stakeholders on these proposals. We aim to reach a decision, in light of that further engagement, on these proposals in Q1 2025.  |  Q4 2024  |  No  |  No   \nWholesale Financial Markets  |  N/A  |  FCA  |  \u200b\u200bA revision of our market cleanliness statistic methodology \u200b  |  Since 2008, the FCA (then FSA) includes the Market Cleanliness Statistic (MCS) in its annual report as an indicator of the level of information leakages and potential insider trading in UK equity markets. Our review proposes a new Market Comparison test and introduces intraday data to the calculation of the statistic.  |  Q4 2024  |  No  |  No   \nRetail Investments  |  N/A  |  FCA/HMT  |  Advice Guidance Boundary Review  |  The FCA and Treasury are jointly carrying out a holistic review of the boundary between financial advice and guidance. As part of this, the FCA is exploring what support needs to be provided to retail consumers in relation to their savings and investments.We will publish an Update with a timeline this Quarter.  |  Q4 2024  |  Yes  |  Yes   \n  \n**Please note:**\n\nThis view allows users to see known regulatory initiatives impacting firms\nbetween October 2024 and December 2024 only. To focus on any other period,\nchoose these from the selection above.\n\nTo search key words (by sector, authority or quarter) use the search bar above\nthe table.\n\nExpand the number of individual entries visible by using the available drop-\ndown options next to \u2018Show\u2019.\n\nInitiatives that impact on a number of sectors within financial services have\nbeen captured under \u2018Multi-sector\u2019.\n\nInitiatives that have more than one publication planned within a given period\nwill be identified by an asterisk (*). For example, \u2018Q4 2024*\u2019 indicates there\nwill be separate publications in multiple months of the fourth quarter of\n2024.\n\nThere are instances where more than one publication is planned for a single\ninitiative across the two quarters covered in this update. Where this applies,\naffected initiatives will be labelled as \u2018Q4 2024 and Q1 2025\u2019 under the\nrelevant publication quarter.\n\n\ufeffSector  |  Sub-category  |  Lead Authority  |  Initiative or Publication name  |  Description of initiative  |  Publication Quarter  |  Was this initiative included in the previous Grid published in November 2023?  |  Has the timing of this initiative changed since the previous Grid published in November 2023?   \n---|---|---|---|---|---|---|---  \nMulti-sector  |  Cross-cutting / Omnibus  |  BoE/FCA/PRA  |  Transforming data collection (TDC)  |  Building on the learning from the joint transformation programme, the Bank and FCA are now planning several projects over the next 18 months to improve data collections. They contribute to five outcomes: (1) data collections meet and are proportionate to regulators\u2019 needs; (2) effective and efficient internal processes for creating data collections; (3) efficient processes and support for meeting regulatory obligations; (4) clear and consistent data definitions; and (5) modern systems to underpin data collections.The Bank and FCA are undertaking a range of specific workstreams to achieve these outcomes. The workstreams have been motivated by the recommendations from industry on how to improve data reporting.The new capabilities and insights will, in general, be applied to new data collections and during the introduction of new collection processes, or future reviews of existing collections. This will allow us to deploy the new capabilities built through TDC iteratively.The Bank will be publishing an Incident, Outsourcing and Third-Party Reporting (IOREP) consultation in Q4 2024.  |  Q4 2024  |  Yes  |  No   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  PRA/FCA  |  Diversity & Inclusion in Financial Services  |  Following the joint Discussion Paper (DP21/1) published in July 2021, the regulators (PRA, FCA) published their separate Consultation Papers on 25 September 2023, with policy proposals that aim to support progress on improving diversity and inclusion across the financial sector and, through the FCA\u2019s consultation, tackle non-financial misconduct (NFM). The FCA intends to publish a Policy Statement on 'Tackling Non-Financial Misconduct in the Financial Sector' around year-end 2024, to be followed by FCA and PRA Policy Statements on the remaining D&I proposals in 2025.  |  Q4 2024  |  Yes  |  Yes   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  HMT/FCA  |  ESG ratings regulation  |  Industry participants are increasingly reliant on third-party ESG ratings, as they integrate ESG considerations into their activities. With an aim of ensuring these products are delivered in a fair, effective, and transparent way. Treasury consulted in 2023 on bringing ESG ratings providers into the FCA\u2019s regulatory perimeter, and confirmed this year they would be looking to introduce legislation to that effect in 2025. Treasury will publish their consultation response by the end of 2024. As set out in our Feedback Statement (FS22/4), the FCA supports regulatory oversight of these providers and an approach informed by IOSCO's recommendations on ESG data and ratings. The FCA has also initiated an industry-led voluntary Code of Conduct to support good outcomes for both ESG ratings and data products.  |  Q4 2024  |  Yes  |  Yes   \nMulti-sector  |  Operational Resilience  |  PRA/BoE/FCA  |  Oversight of Critical Third Parties (CTPs).Final Rules for CTPs, Two Supervisory Statements, Policy Statement and the approach to oversight of CTP publication.  |  The Bank, PRA and FCA published a joint Consultation Paper (CP) in December 2023. The CP set out the regulatory proposals relating to Critical Third Parties using the powers granted to the supervisory authorities' in FSMA 2023. The CP set out proposals of how regulators could assess and strengthen the resilience of services provided by CTPs to firms and FMIs (Financial Markets infrastructure), thereby reducing the risk of systemic disruption. Following responses to the CP, the regulators will publish: \n\n  1. The regulators' final rules for critical third parties (CTPs), which are set out in the following rule instruments: Bank of England Rulebook: Critical Third Parties Instrument 2024; Bank of England Rulebook: Critical Third Parties Emergency Provisions Instrument 2024; PRA Rulebook: Critical Third Parties Instrument 2024; and FCA Handbook: Critical Third Parties Instrument 2024. \n  2. FCA Statutory Instrument related to Critical Third Parties enforcement, which was consulted on separately in \u201cQuarterly Consultation Paper (QCP) on Critical Third Parties \u2013 Statement of Policy relating to Disciplinary Measures\u201d. \n  3. Supervisory Statement (SS): Operational resilience: Critical third parties to the UK financial sector (CTP SS). \n  4. Supervisory Statement (SS) : Reports by skilled persons: Critical Third Parties\u2019 (CTP s166 SS). \n  5. Policy Statement (PS) Operational resilience: Critical third parties to the UK financial sector. \n  6. The Regulators\u2019 approach to the oversight of Critical Third Parties setting out how the regulators intend to use the oversight powers granted to us by legislation \n\n|  Q4 2024*  |  Yes  |  No   \nMulti-sector  |  Conduct  |  ICO  |  Employment guidance  |  New guidance about how to comply with data protection law when keeping records about your workers and to promote good practice.  |  Q4 2024  |  Yes  |  No   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  FRC  |  Stewardship review and Code consultation:Consultation: UK Stewardship CodeRevised UK Stewardship Code  |  FRC will review the UK Stewardship Code and engage with other relevant regulators with responsibility for the regulatory framework for stewardship.  |  Q4 2024 & Q1 2025  |  Yes  |  No   \nMulti-sector  |  Financial Resilience  |  BoE  |  System-Wide Exploratory Scenario Exercise (SWES): Final report  |  The System-Wide Exploratory Scenario exercise will investigate the behaviours of banks and non-bank financial institutions in stress, and how these can amplify shocks in markets and potentially bring about risks to UK financial stability. The Bank is working closely with the FCA and TPR on this.  |  Q4 2024  |  Yes  |  Yes   \nMulti-sector  |  Cross-cutting/omnibus  |  BoE/PRA  |  (1) The Bank of England\u2019s approach to enforcement \u2013 Policy Statement(2) The Bank of England\u2019s approach to enforcement: statements of policy and procedure November 2024  |  The Bank and the PRA consulted earlier in 2024 (28 March to 28 June 2024) on the approaches to using its enforcement powers in relation to critical third parties, securitisation, wholesale cash distribution and digital settlement assets. Each proposes using its existing approach to enforcement, insofar as possible, in relation to relevant areas. The Bank will publish a Policy Statement, setting out its feedback on the responses to the consultation, and an updated version of its approach to enforcement policy and procedure.  |  Q4 2024*  |  No  |  No   \nMulti-sector  |  Operational resilience  |  PRA/BoE/FCA  |  Incident and Outsourcing and Third Party Reporting: Consultation Paper  |  The purpose of this policy would be to introduce clarity regarding the information firms should submit when operational incidents occur. It will also collect certain information on firms\u2019 outsourcing and third party arrangements in order to manage the risks they may present to the PRA/FCA\u2019s objectives, including resilience, concentration and competition risks.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Periodic Review of Financial Reporting Standards 102  |  UK and Ireland accounting standards are subject to periodic reviews, at least every five years, to ensure they remain up-to-date and continue to require high-quality and cost effective financial reporting from entities within their scope. The second periodic review commenced in March 2021. A Financial Reporting Exposure Draft (FRED) was published in Dec 2022 and the final amendments to the Standard was published in March 2024 with an effective date of 1 January 2026 for most provisions. Staff Factsheets (additional guidance to help understanding around the changes to FRS 102).  |  Q4 2024  |  Yes  |  No   \nMulti-sector  |  Conduct  |  ICO  |  Data Protection Assurance Toolkit  |  This toolkit will help financial services firms to assess their own compliance with some of the key requirements under data protection law. It covers a range of areas that we look at when we assess an organisation\u2019s data protection compliance using our audit toolkits to conduct both consensual and compulsory audits.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Annual Review of Financial Reporting Standards 101  |  Financial Reporting Standards (FRS) 101, the reduced disclosure framework, is reviewed annually to ensure it remains up-to-date and appropriately considers updates to IFRS accounting standards.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Revision of ISA (UK) 250  |  ISA (UK) 250 deals with the auditor\u2019s responsibilities in respect of law and regulation. The proposals consulted on will help to strengthen auditor requirements to detect and report material misstatements from non-compliance with laws and regulations, and to clarify instances where auditors should report such breaches, and other significant matters, to the relevant regulators.This will enhance the useability and informativeness of the audit and provide greater assurance to users of financial statements that potential material misstatements have been properly assessed by the auditor.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  FRC XBRL Taxonomy Suite  |  The XBRL Taxonomy Suite is reviewed annually to ensure it remains up-to-date with reporting standards and fit for purpose for preparers and developers.2025 XBRL Taxonomy Suite and feedback statement.  |  Q4 2024  |  No  |  No   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  A strong and simple prudential framework for non-systemic banks and building societies - Capital requirements for Small Domestic Deposit Takers (previously 'Simpler-regime Firms')Policy Statement  |  Developing policy to simplify prudential regulation for non-systemic and domestic banks and building societies in the UK, while maintaining resilience. Includes working with the FCA on corresponding changes to their Handbook where needed. As part of this work, the PRA will review these rules to assess if they are operating effectively and delivering their intended impact. Final policy on arrangements for the Interim Capital Regime will be published in Q4 2024 and along with the Basel 3.1 Final Policy Statement in Q1 2025.  |  Q4 2024 & Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Financial Resilience  |  BoE  |  2024 desk-based stress testFinancial Stability Report  |  To support the FPC\u2019s and PRA's monitoring and assessment of the resilience of the UK banking system to potential downside risks, the Bank will run a desk-based stress test exercise in 2024. The outcome of the desk-based test will be used to inform the FPC\u2019s judgements about the ability of the banking system to support the economy through stress and support the PRA\u2019s ongoing supervisory work. The aggregate results will be communicated publicly. The Bank will not publish results at the level of individual banks.  |  Q4 2024  |  No  |  No   \nBanking, credit and lending  |  Cross-cutting/omnibus  |  BoE  |  Remuneration Review CP  |  Following the removal of the bonus cap (October 2023), and amendments that enhance proportionality for small firms (December 2023), the PRA (jointly with the FCA) is continuing to review the remuneration regime which is a combination of EU and domestic policies. In line with their primary and secondary objectives, the PRA and FCA will look to amend elements of the regime to make them more effective and proportionate. The potential adjustments will maintain the regime\u2019s overall structure and objectives which is based on the internationally-agreed Financial Stability Board Principles. As part of this work, the PRA and FCA will review these rules to assess if they are operating effectively and delivering their intended impact.  |  Q4 2024  |  No  |  No   \nPensions and Retirement Income  |  N/A  |  FCA  |  Regulatory framework for pensions dashboards operators - tied to the introduction of a new regulated activity by TreasuryPolicy Statement  |  In March 2024, Treasury introduced a new regulated activity to bring Pensions Dashboard Service operators within the FCA perimeter, and subject to FCA rules.  |  Q4 2024  |  Yes  |  Yes   \nPensions and Retirement Income  |  N/A  |  TPR  |  DB scheme funding  |  TPR consultation on regulatory framework for DB scheme funding and associated approach. Regulations have been laid, so that schemes with effective dates from September will need to submit a statement of strategy to TPR. TPR laid Code in Parliament on 29 July 2024 and is expected to come into force in November 2024. Q4 2024 Covenant guidance published and full response to statement of strategy consultation (interim response and templates published in September 2024).  |  Q4 2024  |  Yes  |  Yes   \nPensions and Retirement Income  |  N/A  |  FCA/HMT  |  Advice Guidance Boundary Review  |  The FCA and Treasury are jointly carrying out a holistic review of the boundary between financial advice and guidance. As part of this, the FCA is exploring what support needs to be provided to consumers in relation to their pension.We are aiming for an FCA consultation paper (without rules) on targeted support in pensions in Winter 2024. We will also be exploring wider changes to the existing pensions regime.  |  Q4 2024  |  Yes  |  Yes   \nPensions and Retirement Income  |  N/A  |  FRC  |  Actuarial Standard Technical Memorandum 1Consultation: Revision of AS TM1Feedback statement: Revision of AS TM1  |  Actuarial Standard Technical Memorandum 1 (AS TM1) specifies the assumptions and methods to be used in illustrations of money purchase/defined contribution pensions. AS TM1 and the appropriateness of the assumptions set out within are reviewed annually to ensure they remain fit for purpose.  |  Q4 2024 & Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Dynamic General Insurance Stress Test 2025 \u2013 Industry Workshop  |  The PRA intends to run a dynamic general insurance stress test (DyGIST) in 2025. The objectives of the exercise will be to: (1) assess the industry\u2019s solvency and liquidity resilience to a specific adverse scenario; (2) assess the effectiveness of insurers\u2019 risk management and management actions following an adverse scenario; and (3) inform the Prudential Regulation Authority's (PRA) supervisory response following a market-wide adverse scenario.The dynamic nature of the 2025 exercise represents a significant change from previous exercises and will involve simulating a sequential set of adverse events over a short period of time. Consequently, the PRA has engaged with the industry including trade bodies. We provided more details of this exercise (including participation, design, and timelines) in a statement published on 15 July 2024.Results of this exercise will be disclosed at an aggregate industry level.  |  Q4 2024  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Review of Solvency II: Reporting and disclosure Phase 3 - Liquidity reporting requirementsConsultation Paper  |  The PRA is improving its regulation and supervision of insurers\u2019 liquidity risks. Its current initiative is developing proposals to introduce new reporting requirements for insurance firms with the most material exposures to liquidity risk. This will enable us to more effectively supervise insurers\u2019 liquidity risk by providing timely, consistent and accurate information.  |  Q4 2024  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  BoE/PRA  |  Increasing ease of exit: Solvent exit planning for insurers - Policy Statement  |  Greater preparedness by insurers for solvent exit supports an orderly cessation of PRA-regulated activities and reduces the risk of market disruption from disorderly or protracted exits. A solvent exit results in improved outcomes for policyholders and supports effective competition by allowing new entrants in and non-viable firms out.  |  Q4 2024  |  Yes  |  Yes   \nWholesale Financial Markets  |  Cross-cutting/omnibus  |  BoE  |  Consultation on Fundamental rules for FMIs  |  Consultation on rules and a supervisory statement, establishing Fundamental Rules for FMIs (CCPs, CSDs, recognised payments systems operators and specified service providers). These are a set of high level requirements on FMIs covering the full range of the regulatory framework, comparable to those already in place for PRA firms. They are designed to help make our regulatory approach as transparent as possible and to set out to the industry the fundamental principles that underpin the rulebook and what we require of firms. They will underpin the existing regulatory framework for FMIs and so help firms anticipate how we will assess their compliance with more specific rules.  |  Q4 2024  |  No  |  No   \nInvestment Management  |  N/A  |  FCA  |  Payment optionality for investment research for pooled vehiclesConsultation Paper  |  Allowing funds to take advantage of the new payment option for investment research that applies to MiFID managers for segregated accounts.  |  Q4 2024  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Capital deduction for redress: personal investment firmsPolicy Statement  |  The FCA has consulted on policy proposals to require personal investment firms to set aside capital for potential redress liabilities at an early stage.  |  Q4 2024  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Investment Advice Assessment Tool  |  External publication of a tool currently used internally to assess investment advice, other than defined benefit or Retirement Income.  |  Q4 2024  |  No  |  No   \nPayments and cryptoassets  |  |  BoE  |  Supervisory approach to wholesale cash (published)Enforcement Policy Statement  |  The Bank outlines how it will use new powers to ensure wholesale cash distribution remains effective, resilient and sustainable into the future.  |  Q4 2024  |  Yes  |  No   \nPayments and cryptoassets  |  N/A  |  FCA  |  Consultation on FCA guidance changes reflecting Treasury's legislation on risk based approach to paymentsConsultation and Finalised Guidance  |  The FCA will revise the guidance and consult on proposed changes further to Treasury's amendment of the PSRs 2017 allowing firms to delay payments if suspicion of fraud or dishonesty.  |  Q4 2024*  |  No  |  No   \nPayments and cryptoassets  |  N/A  |  BoE  |  CCP Resolution - The Bank of England\u2019s approach to determining what commercially reasonable payments would be made in the event of the Bank exercising tear-up powers in the resolution of a central counterparty (CCP)Summary of consultation responses and final Statement of Policy  |  Schedule 11 to the Financial Services and Markets Act 2023 gives The Bank the power to make tear-up instruments in the resolution of a CCP. Schedule 11 requires the Bank to publish by end 2024 a statement of policy as to how it would determine what commercially reasonable payments would be made should the Bank use its tear up power in the resolution of a CCP. The Bank has published a consultation on how it would determine a commercially reasonable payment for a torn-up contract.The Bank may also consult on further proposed CCP resolution policy in due course.  |  Q4 2024*  |  No  |  No   \nPayments and cryptoassets  |  N/A  |  BoE  |  CCP Resolution \u2013 The Bank of England\u2019s power to direct a CCP to address impediments to resolvabilitySummary of consultation responses and final Statement of Policy  |  Schedule 11 to the Financial Services and Markets Act 2023 gives The Bank power to direct a CCP to take measures to address impediments to the effective exercise of the stabilisation powers.The Bank has published a consultation on the process it would follow to direct a CCP to address impediments to resolvability and intends to publish a final Statement of Policy in December 2024.  |  Q4 2024*  |  No  |  No   \nPayments and cryptoassets  |  N/A  |  PSR  |  Market review of cross-border interchange fees  |  A market review to understand the rationale for the five-fold increase in cross-border interchange fees (that affects certain card transactions between the UK and the EEA, where the cardholder is not present) since the UK left the EU and whether they are an indication that the market is not working well.  |  Q4 2024  |  Yes  |  Yes   \nWholesale Financial Markets  |  N/A  |  HMT/FCA/PRA  |  Wholesale Markets ReviewPublication of the Policy Statement and final rules on the consultation CP23/32 on \"Improving transparency for bond and derivatives markets\"  |  The Financial Services and Markets Act 2023 (FSMA 2023) received Royal Assent on 29 June 2023. FSMA 2023 is a key milestone in delivering the commitments set out in March 2022 in the consultation response to the Wholesale Markets Review (WMR), the review of wholesale markets Treasury and the FCA conducted in 2021.The FCA published the policy statement on improving equity markets (PS 23/4) in May 2023, and the guidance on the trading venue perimeter (PS23/11) in July 2023. The FCA published the framework for a UK consolidated tape, including on payment to data providers, in December 2023 and April 2024 (CP 23/33 and Handbook Notice 117). The FCA published consultations on changes to the commodity derivatives regime (CP23/27) and the transparency regime for bonds and derivatives (CP23/32) in December 2023.  |  Q4 2024*  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Solvency II remainderPolicy Statement  |  This is the final PRA publication needed to implement the conclusions of the Solvency II Review, as set out in CP5/24 (and originally in CP12/23), and to finalise PRA rules and other policy materials that will replace Solvency II assimilated law which forms part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.This Policy Statement proposes the restatement into PRA policy material of those parts of the Solvency II regime which have not already been subject to consultation as part of the Solvency II Review. It sets out how the PRA proposes to restate these Solvency II requirements from assimilated law into the PRA Rulebook and other policy material such as Supervisory Statements (SSs) or Statements of Policy (SoPs) ('PRA policy material').  |  Q4 2024  |  Yes  |  Yes   \nRetail Investments  |  N/A  |  HMT/FCA  |  The Packaged Retail and Insurance-Based Investment Products (PRIIPs) Regulation / Consumer Composite Investments (CCIs)Consultation Paper  |  Repeal and replace assimilated law, The Packaged Retail and Insurance-Based Investment Products (PRIIPS) Regulation, with a new UK retail disclosure regime, the Consumer Composite Investments (CCIs) regime, that works effectively with the UK\u2019s dynamic capital markets and fosters informed retail investor participation in those markets.  |  Q4 2024  |  Yes  |  No   \nBanking, credit and lending  |  Financial Resilience  |  HMT/PRA  |  Repeal and replace in the PRA Rulebook the remainder of the Capital Requirements Regulation (CRR) - Remainder  |  Transferring the remaining firm-facing Capital Requirements Regulation (CRR) requirements into the PRA Rulebook and other policy materials, as part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.  |  Q4 2024  |  Yes  |  No   \nBanking, credit and lending  |  Financial Resilience  |  HMT/BoE/PRA  |  UK Capital Requirements Regulation (CRR) Total loss-absorbing capacity (TLAC) transfer  |  Transfer of TLAC provisions from UK CRR under FSMA 2023 and revision of BoE\u2019s MREL Statement of Policy (SoP). This initiative forms part of the programme to replace assimilated law under the Smarter Regulatory Framework (SRF). Revocation of TLAC provisions in UK CRR using FSMA 2023 powers and restatement (with modifications) and other changes in a revised and expanded version of BoE\u2019s MREL Statement of Policy (SoP), as part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.  |  Q4 2024  |  Yes  |  No   \nWholesale Financial Markets  |  N/A  |  HMT/FCA  |  MiFIR related to Transaction Reporting - Discussion Paper  |  The repeal and replacement, where appropriate, of assimilated law related to transaction reporting to the FCA. The FCA intends to publish a Discussion Paper on the UK's transaction reporting regime in Q4 2024.  |  Q4 2024  |  No  |  No   \nWholesale Financial Markets  |  Cross-cutting/omnibus  |  BoE  |  Publication of the Bank's approach to financial market infrastructure supervision  |  Publication of supervisory approach document that sets out how the Bank carries out its role in respect of supervision of Financial Market Infrastructure. This document will aid accountability by describing what we seek to achieve and how we intend to achieve it. It will also communicate to regulated FMIs what we expect of them, and what they can expect from us in the course of supervision. It sits alongside our requirements and expectations as published in our policy publications as well as the rules, standards and codes of practice that FMIs are subject to.  |  Q4 2024  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  FCA  |  Proposed Revised Enforcement Guide  |  The FCA has consulted on a revised Enforcement Guide. As we set out in September 2024, we will publish further information in Q4 2024, including case studies, as we continue to engage stakeholders on these proposals. We aim to reach a decision, in light of that further engagement, on these proposals in Q1 2025.  |  Q4 2024  |  No  |  No   \nWholesale Financial Markets  |  N/A  |  FCA  |  \u200b\u200bA revision of our market cleanliness statistic methodology \u200b  |  Since 2008, the FCA (then FSA) includes the Market Cleanliness Statistic (MCS) in its annual report as an indicator of the level of information leakages and potential insider trading in UK equity markets. Our review proposes a new Market Comparison test and introduces intraday data to the calculation of the statistic.  |  Q4 2024  |  No  |  No   \nRetail Investments  |  N/A  |  FCA/HMT  |  Advice Guidance Boundary Review  |  The FCA and Treasury are jointly carrying out a holistic review of the boundary between financial advice and guidance. As part of this, the FCA is exploring what support needs to be provided to retail consumers in relation to their savings and investments.We will publish an Update with a timeline this Quarter.  |  Q4 2024  |  Yes  |  Yes   \n  \n**Please note:**\n\nThis view allows users to see known regulatory initiatives impacting firms\nbetween January 2025 and March 2025 only. To focus on any other period, choose\nthese from the selection above.\n\nTo search key words (by sector, authority or quarter) use the search bar above\nthe table.\n\nExpand the number of individual entries visible by using the available drop-\ndown options next to \u2018Show\u2019.\n\nInitiatives that impact on a number of sectors within financial services have\nbeen captured under \u2018Multi-sector\u2019.\n\nInitiatives that have more than one publication planned within a given period\nwill be identified by an asterisk (*). For example, \u2018Q1 2025*\u2019 indicates there\nwill be separate publications in multiple months of the fourth quarter of\n2024.\n\nThere are instances where more than one publication is planned for a single\ninitiative across the two quarters covered in this update. Where this applies,\naffected initiatives will be labelled as \u2018Q4 2024 and Q1 2025\u2019 under the\nrelevant publication quarter.\n\n\ufeffSector  |  Sub-category  |  Lead Authority  |  Initiative or Publication name  |  Description of initiative  |  Publication Quarter  |  Was this initiative included in the previous Grid published in November 2023?  |  Has the timing of this initiative changed since the previous Grid published in November 2023?   \n---|---|---|---|---|---|---|---  \nMulti-sector  |  Cross-cutting/omnibus  |  FCA  |  Review of firms' treatment of customers in vulnerable circumstances  |  We are assessing firms\u2019 approaches to the treatment of customers in vulnerable circumstances. We want to explore how firms are meeting expectations of our 2021 Guidance for firms on the fair treatment of vulnerable customers and understand how this maps to the Consumer Duty outcomes and requirements.  |  Q1 2025  |  Yes  |  Yes   \nMulti-sector  |  Environmental Social and Governance (ESG)  |  FRC  |  Stewardship review and Code consultation:Consultation: UK Stewardship CodeRevised UK Stewardship Code  |  FRC will review the UK Stewardship Code and engage with other relevant regulators with responsibility for the regulatory framework for stewardship.  |  Q4 2024 & Q1 2025  |  Yes  |  No   \nMulti-sector  |  Conduct  |  FCA  |  External Redress Guidance  |  Review of rules and guidance to firms when identifying harm and conducting firm led redress exercises. We are planning to publish a CP on proposed rules and guidance relating to expectations of firms identifying and conducting firm led redress exercises. This will cover the idenitfication and reporting of harm, guidance on rectifying harm and proactive redress exercises.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Conduct  |  ICO  |  Guidance on Cloud Computing  |  This guidance will provide an update to our 2012 guidance on cloud computing. We expect this guidance update to also influence privacy best practice in light of other domestic and international regulatory activity on the cloud domain and to be of interest to financial services firms.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Technical Actuarial StandardsConsultation: Revision of TAS 300 (funding code)  |  The FRC regularly review the Technical Actuarial Standards (TAS) and other actuarial standards to ensure they continue to support the delivery of high-quality technical actuarial work and satisfy the Reliability Objective.Revised TAS 100 and TAS 400 have now been published and are effective from July 2023. Revised TAS 300 and TAS 310 (Pensions) have now been published and are effective from April 2024 and Sept 2024 respectively. The consultation on TAS 200 closed in May 2024.  |  Q1 2025  |  Yes  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Guidance on the Going Concern Basis of Accounting and Related Reporting  |  The FRC will review the existing Guidance on the Going Concern Basis of Accounting and Reporting on Solvency and Liquidity Risk (2016). The consultation on the exposure draft (\"Guidance on the Going Concern Basis of Accounting and Related Reporting\") was published in August and will close in October 2024.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Financial Resilience  |  FRC  |  Revision of ISA (UK) 700 series: Consultation  |  The ISA (UK) 700 series relate to the auditor reporting standards. Further stakeholder outreach is being carried out on proposed changes to the standards, which are designed to better meet investor and other stakeholder information needs, as well as de-cluttering and simplifying requirements.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  PRA  |  Updating Supervisory Statement 3/19 on the management of climate-related risks - Consultation Paper  |  Updating 3/19 to consolidate public feedback since 2019 on the management of climate related risks and to bring the expectations into closer alignment with international standards.  |  Q1 2025  |  No  |  No   \nMulti-sector  |  Cross-cutting/omnibus  |  FCA  |  Review of FCA requirements following the introduction of the Consumer DutyFeedback Statement  |  We have published a Call for Input seeking views on whether, where, and how, under the Consumer Duty, we can simplify our requirements on firms while ensuring we continue to support and protect consumers. We want to facilitate innovation and flexibility, reducing costs for firms, driving effective competition and supporting our Secondary International Competitiveness and Growth Objective.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Conduct  |  FCA  |  Review of Debt Advice Rules (CONC 8) Consultation Paper  |  Review our debt advice rules to ensure they set the right framework for good quality debt advice.  |  Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  Leverage Ratio: Review of thethresholds for application of the requirement - Consultation Paper  |  The Leverage Ratio \u2013 Capital Requirements and Buffers Part requires firms with more than \u00a350bn retail deposits or \u00a310bn non-UK assets to meet a minimum leverage ratio of 3.25% plus buffers at all times. As announced on 10 September, the PRA is reviewing these thresholds. If this review identifies a need for changes, the PRA expects to publish a consultation paper in Q1 2025.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Conduct  |  FCA  |  Evaluation of the persistent debt intervention  |  An impact evaluation of the effect of the persistent debt intervention that followed the Credit Card Market Study. This came into effect in September 2018.  |  Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Financial Resilience  |  PRA/HMT  |  Final reporting taxonomy for Basel 3.1 (implementation of the remaining Basel 3 banking standards)  |  Final version of the reporting taxonomy for the technical implementation of Basel 3.1.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  A strong and simple prudential framework for non-systemic banks and building societies - Capital requirements for Small Domestic Deposit Takers (previously 'Simpler-regime Firms')Policy Statement  |  Developing policy to simplify prudential regulation for non-systemic and domestic banks and building societies in the UK, while maintaining resilience. Includes working with the FCA on corresponding changes to their Handbook where needed. As part of this work, the PRA will review these rules to assess if they are operating effectively and delivering their intended impact. Final policy on arrangements for the Interim Capital Regime will be published in Q4 2024 and along with the Basel 3.1 Final Policy Statement in Q1 2025.  |  Q4 2024 & Q1 2025  |  Yes  |  Yes   \nBanking, credit and lending  |  Competition, innovation and other  |  PRA  |  Review of the FSCS deposit protection limit  |  The PRA is required to complete a review of the Financial Services Compensation Scheme deposit protection limit by December 2025. The PRA expects to publish a consultation paper in connection with this review in Q1 2025.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Financial Resilience  |  PRA  |  Streamlining the Pillar 2A capital framework and the capital communications process - Policy Statement  |  Further to the Consultation Paper (CP9/24) published in Sep 2024, the PRA will issue a policy statement on streamlining firm-specific capital communications in Q1 2025, followed by a policy statement on retiring the refined methodology to Pillar 2A and a policy statement on retiring the refined methodology to Pillar 2A in Q2 2025.  |  Q1 2025  |  No  |  N/A   \nBanking, credit and lending  |  Financial Resilience  |  PRA  |  Bank Resolution (Recapitalisation) Bill ImplementationConsultation Paper  |  PRA depositor protection rule changes to implement legislative changes made under the Bank Resolution (Recapitalisation) Bill. We expect the Bill to introduce a new resolution tool utilising FSCS funding which will require consequential changes to the depositor protection rulebook to facilitate this.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Banking, credit and lending  |  PRA  |  Banking Disclosure / Implementation of disclosure templates  |  PRA Implementation of Basel disclosure templates.  |  Q1 2025  |  No  |  No   \nBanking, credit and lending  |  Financial Resilience  |  BoE/HMT/PRA  |  Basel 3.1 final policy statement (implementation of the remaining Basel 3 banking standards)  |  Final rules for UK implementation of the final Basel III banking standards (also known as Basel 3.1). This initiative follows the publication of two near-final policy statements in December 2023 and September 2024 as part of the Treasury\u2019s repeal and replacement of assimilated law under FSMA 2023.  |  Q1 2025  |  Yes  |  No   \nBanking, credit and lending  |  Financial Resilience  |  BoE/HMT/PRA  |  Final reporting taxonomy for Basel 3.1 (implementation of the remaining Basel 3 banking standards)  |  Final version of the reporting taxonomy for the technical implementation of Basel 3.1.  |  Q1 2025  |  No  |  No   \nPensions and Retirement Income  |  N/A  |  FRC  |  Actuarial Standard Technical Memorandum 1Consultation: Revision of AS TM1Feedback statement: Revision of AS TM1  |  Actuarial Standard Technical Memorandum 1 (AS TM1) specifies the assumptions and methods to be used in illustrations of money purchase/defined contribution pensions. AS TM1 and the appropriateness of the assumptions set out within are reviewed annually to ensure they remain fit for purpose.  |  Q4 2024 & Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  FCA  |  Regulation of the commercial insurance marketConsultation Paper  |  Consulting on rules and guidance focused on ensuring an appropriate balance between consumer protection and competitiveness in light of certain characteristics of the commercial insurance market, including the London market.  |  Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  PRA  |  Life Insurance StressTest 2025: Scenario Calibrations, finalised instructions, guidelines and templates for firms. This publication will launch the exercise.  |  Major life insurers participate in regular stress testing prescribed by the PRA and the next test will be in 2025. The objectives of the life insurance stress test are to: (1) assess sector and individual firm resilience to severe but plausible events; (2) strengthen market understanding and discipline through individual firm publication; and, (3) improve insight into risk management vulnerabilities.In 2025, the PRA will publish individual firm results. This will help inform the PRA, as well as other stakeholders, about sector and individual firm resilience, and the vulnerabilities to which firms are exposed in the scenarios we set out.The PRA has been engaging with the industry and disclosure users over the past 18 months on both scenario design and disclosure for the 2025 exercise. The PRA published an \u201cApproach to LIST 2025\u201d alongside methodological guidance for the firms on 10 July 2024.  |  Q1 2025  |  No  |  No   \nInsurance and reinsurance  |  N/A  |  FCA  |  Pure Protection Market Study  |  The FCA intends to launch a market study into how pure protection insurance products are distributed following concerns that competition is not working well in the market. The study will be launched later in 2024/25.  |  Q1 2025  |  No  |  NA   \nInsurance and reinsurance  |  |  PRA  |  FSCS General Insurance Limit Review - Discussion Paper  |  Discussion Paper on changing the level of FSCS protection for general insurance products and amending the definition of small business. The PRA is considering the responses and its next steps. As part of this work, the PRA will review these rules to assess if they are operating effectively and delivering their intended impact.  |  Q1 2025  |  No  |  No   \nWholesale Financial Markets  |  N/A  |  PRA/FCA  |  PRA/FCA consultation on margin requirements for non-centrally cleared OTC derivatives (equity options)  |  In Policy Statements PS18/23 and PS23/19, the PRA and FCA extended the temporary exemption for single-stock equity options and index options from the UK bilateral margin requirements until 4 January 2026. The PRA and FCA also set out their intention to assess the best permanent framework for the UK. The PRA and FCA intend to consult and provide the final framework before the current temporary exemption ends.  |  Q1 2025  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Review of the prudential regime for Personal Investment FirmsConsultation Paper  |  Reviewing the appropriateness of the prudential requirements for personal investment firms - potentially leading to including capital and liquidity thresholds and risk management requirements.  |  Q1 2025  |  No  |  No   \nRetail Investments  |  N/A  |  FCA  |  Review of the definition of regulatory capital used in MIFIDPRUConsultation Paper  |  MIFIDPRU, the prudential sourcebook for solo-regulated investment firms, defines regulatory capital through a number of cross-references to a 'frozen in time' version of the UK Capital Requirements Regulation. We intend to remove these references, bringing the definition into MIFIDPRU while amending it where necessary to be more applicable to investment firms.  |  Q1 2025  |  Yes  |  Yes   \nPayments and cryptoassets  |  N/A  |  PSR  |  Market review of card scheme and processing fees  |  The aim of the market review is to understand if the supply of scheme and processing services are working well, having regard to our competition, innovation and protection of service-users objectives.  |  Q1 2025  |  Yes  |  Yes   \nWholesale Financial Markets  |  N/A  |  HMT/FCA  |  Prospectus Regime ReformTwo CPs on further Public Offers and Admissions to Trading Regulation (POATR) rules including consequential changes relating to public offer platforms and additional proposals for admissions to regulated markets, including for non-equity securities, following CP24/12 and CP24/13 published on 26 July 2024.  |  The Government consulted in 2021 and laid a SI in Q1 2024 on reforms to make the UK\u2019s prospectus regime simpler, more agile, and more effective; this was a recommendation of the Lord Hill's UK Listings Review. These reforms will be delivered through a statutory instrument (SI) which sets the framework for a new Prospectus Regime, replacing the Prospectus Regulation inherited from the EU. The FCA will write detailed rules to accompany the framework set out by this SI, which will also address certain recommendations from the Secondary Capital Raising Review.  |  Q1 2025*  |  Yes  |  Yes   \n  \n  * [ Accessibility ](/accessibility)\n  * [ Complain about us ](/about/how-we-operate/complain-about-regulators)\n  * [ Copyright notice ](/legal)\n  * [ Corporate responsibility ](/about/how-we-operate/corporate-responsibility)\n  * [ Cymraeg ](/about/cymraeg)\n  * [ Freedom of information ](/freedom-information)\n  * [ Modern Slavery and Human Trafficking Statement ](/about/how-we-operate/corporate-responsibility#section-modern-slavery-and-human-trafficking-statement)\n  * [ Privacy ](/privacy)\n  * [ Sitemap ](/sitemap)\n  * [ Translated languages ](/translated-pages)\n\n##  Social\n\n  * [ LinkedIn  ](https://www.linkedin.com/company/financial-conduct-authority \"Publish this post to LinkedIn\")\n  * [ RSS Feed  ](/news/rss.xml \"Subscribe to our RSS feed\")\n  * [ Twitter  ](https://twitter.com/thefca \"Share this on Twitter\")\n\n##  Registers and Systems  Registers and Systems\n\n  * [ My FCA ](/firms/my-fca)\n  * [ Financial Services Register ](/firms/financial-services-register)\n  * [ FCA Handbook ](/about/how-we-regulate/handbook)\n  * [ Connect ](/firms/connect)\n  * [ RegData ](/firms/regdata)\n  * [ Online Invoicing System ](/firms/fees/online-invoices)\n\n##  Careers  Careers\n\n  * [ Careers home ](/careers)\n  * [ Early careers ](/careers/early-careers)\n  * [ Experienced professionals ](/careers/experienced-professionals)\n\n##  Contact  Contact\n\nFCA Head Office\n\n12 Endeavour Square\n\nLondon E20 1JN\n\n[ Contact us ](/contact)\n\n[ Plain Language Commission Gold Award  ](https://www.clearest.co.uk/gold-\nstandard \"Plain Language Commission. Clear English Gold Standard Award logo\")\n\nCopyright \u00a9 2025 FCA. All rights reserved.\n\nBack to top\n\nCompany no. 01920623\n\n",
                "url": "https://www.fca.org.uk/publications/corporate-documents/regulatory-initiatives-grid/interim-update"
            },
            "reason": "This is a UK government website (Financial Conduct Authority) providing updates on regulatory initiatives. It is a highly reliable source of regulatory information for financial institutions in the UK.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' risk regulatory compliance",
            "summary": "Financial Conduct Authority's updates on regulatory initiatives.",
            "url": "https://www.fca.org.uk/publications/corporate-documents/regulatory-initiatives-grid/interim-update"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "94e6478f-319b-41e0-9527-d05b456a3a7c",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://report.lufthansagroup.com/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/"
                },
                "page_content": "  * [ Combined management report ](/2024/annual-report/en/combined-management-report/)\n    * [ Combined non-financial declaration ](/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/)\n      * [ E1 \u2013 Climate change ](/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/)\n        * [ Metrics and targets ](/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/)\n\n#  Metrics and targets\n\n#####  E1-4 \u2013 Targets related to climate change mitigation and adaptation\n\n######  Scientifically proven carbon reduction targets underpin climate\nprotection ambitions\n\nThe Lufthansa Group has set itself ambitious climate change mitigation\ntargets. The SBTi validation in 2022 made the Lufthansa Group the first\nairline group in Europe and the second worldwide with a scientifically\nverified CO\u2082 reduction target in line with the goals of the Paris Climate\nAgreement of 2015. In terms of the SBTi criteria the Lufthansa Group has set\nitself a target of reducing its carbon intensity, i.e. its CO\u2082 emissions in\ngrammes of CO  2  per revenue tonne-kilometre (passenger and freight) \u2013 by\n30.6 % from 2019 to 2030. The Lufthansa Group aligns its targets for reducing\nGHG emissions through the SBTi target with the political goal of limiting\nglobal warming to well below two degrees as set out in the Paris Agreement.\n\nThe Lufthansa Group\u2019s SBTi target is supplemented by a net-zero target for\n2050 and a net-emissions target of -50% for 2030 compared with 2019 to help\nlimit global warming to only 1.5\u00b0C as set out by the IPCC. The Lufthansa Group\nused 2019 as its base year because that was the last operating year unaffected\nby the coronavirus crisis in terms of emissions when the targets were set. The\ntargets for reducing carbon emissions also account for future developments,\nsuch as the growth in the number of flights based on the current company-wide\ngrowth scenarios. In addition, the Company has set a target for ground\noperations in Germany, Austria and Switzerland to source electricity\nexclusively from renewable energies. The Lufthansa Group has consolidated its\ncarbon emissions reductions. The validated SBTi target for aircraft operations\ncovers Scope 1 as well as Scope 3, Category 3. The targets defined for climate\nchange mitigation with regard to ground operations cover market-based Scope 2\nemissions.\n\nThe Lufthansa Group\u2019s mitigation pathway incorporates business development and\nforecasts the mitigation amounts of individual measures. It defines the key\nlevers by which the Lufthansa Group will decarbonise aircraft operations and\nachieve its targets. Numerous investments and partnerships support the\npathway, driving emissions reductions in the short to medium term and\nadvancing the development of the technologies needed over the long term.\n\n######  Management of SBTi targets is embedded within the Company\n\nThe Corporate Responsibility department, in close collaboration with the\nrelevant business areas and specialist departments, develops the strategy and\ndesigns the reduction targets for the Lufthansa Group\u2019s airlines. The\nExecutive Board has ultimate oversight of the climate change mitigation and\nenvironmental strategy, as well as the organisation, management and\nimplementation of these targets. The Group\u2019s ESG reporting team coordinates\nthe targets to ensure consistency with the GHG inventory.\n\n######  The contribution of individual decarbonisation levers has been\nquantified\n\nThe Lufthansa Group has identified a number of decarbonisation levers, which\nare described within its four-pillar strategy and the measures taken. The\nLufthansa Group quantifies the following contributions of its individual\ndecarbonisation levers to achieving the SBTi target in 2030:\n\n  * Fleet renewal reduces GHG emissions per revenue tonne-kilometre (RTK) by a projected 15% based on current framework conditions such as the supply reliability of aircraft manufacturers \n  * Operational efficiency measures reduce GHG emissions per RTK by a projected 3.8% based on current framework conditions such as the networked utilisation of European airspace \n  * The use of SAF additionally reduces GHG emissions per RTK by a projected 3.4% based on current framework conditions such as the availability and economic viability of SAF. \n\nTo achieve its net climate change mitigation targets, the Lufthansa Group\nrelies not only on decarbonisation measures but also on compensation\ninitiatives, such as supporting certified climate change mitigation projects.\n\n######  Progress on target achievement measured annually\n\nOverall, the combined reduction in carbon emissions per RTK compared with the\nbase year 2019 (SBTi KPI) across all measures amounted to 3.8% in the\nreporting year.\n\nThe main influencing factors were delays in the delivery of modern aircraft,\nwhich prevented the planned fleet renewal from being implemented as originally\nscheduled. Additionally, current geopolitical situations, such as Russia\u2019s war\nof aggression against Ukraine and the Middle East crisis, have required\nflights to detour around large-scale airspace restrictions, leading to\nincreased fuel consumption on the affected routes in recent years.\n\nThe Lufthansa Group is continuously working on modernising its fleet,\nincreasing the use of sustainable aviation fuels (SAF) and implementing\nfurther efficiency measures. The Lufthansa Group is also expanding its\nservices and offerings for more sustainable flight options, enabling further\nreductions in carbon emissions.\n\n######  The handling of other gases with an impact on climate remains\nunresolved\n\nThe Lufthansa Group has not yet defined targets for other climate-relevant\nnon-CO  2  gases. It is currently conducting research to develop a uniform\nstandard for converting these into CO  2  equivalents (CO  2  eq) or another\nappropriate metric. Once established, the Lufthansa Group will define and set\ntargets. To date, neither researchers nor legislators have made a clear\ndetermination regarding the parameters to be used or the time period over\nwhich the effects are to be considered.\n\n######  Energy-related targets for ground mobility have been adopted\n\nIn addition to the certified climate change mitigation targets for aircraft\noperations, the Lufthansa Group also aims to become carbon-neutral in ground\nmobility in the DACH region by 2030. However, it does not follow a defined\nsector-specific pathway, and these targets are not verified as compatible with\nthe target of 1.5 degrees.\n\n#####  E1-5 - Energy consumption and mix\n\nThe Lufthansa Group records and analyses its global energy consumption\nannually. The energy consumption figures are of high significance for the\nLufthansa Group, serving both as the basis for calculating its carbon\nfootprint and for verifying the effectiveness of implemented energy reduction\nmeasures, and because the Lufthansa Group operates in sectors classified as\nclimate-intensive. These climate-intensive sectors include both passenger and\nfreight air transport as well as activities of Lufthansa Technik in the\nMaintenance, Repair and Overhaul (MRO) segment. An overview of the ESRS\nsectors is provided in [ ESRS 2 General disclosures - Strategy, business model\nand value chain. ](/2024/annual-report/en/combined-management-report/combined-\nnon-financial-declaration/esrs2-general-disclosures/strategy/#headline-158650)\n\nThe following table provides a detailed overview of the energy sources and\ntheir consumption across all the business areas of the Company:\n\n**T057** |  **ESRS E1-5 | AR34 Energy consumption and mix in 2024**  \n---|---  \n|  |   \n|  |   \n(1) Fuel consumption from crude oil and petroleum products  |  MWh  |  109,875,298   \n(2) Fuel consumption from natural gas  |  MWh  |  122,282   \n(3) Fuel consumption from other fossil sources  |  MWh  |  0   \n(4) Consumption from purchased or acquired electricity, heat, steam and cooling from fossil sources  |  MWh  |  213,602   \n**(5) Total fossil energy consumption** |  **MWh** |  **110,211,182**  \n**Percentage of fossil sources in total energy consumption** |  **%** |  **99.6%**  \n**(6) Consumption from nuclear sources** |  **MWh** |  **0**  \n**Percentage of consumption from nuclear sources in total energy consumption** |  **%** |  **0.0%**  \n(7) Fuel consumption from renewable sources, including biomass (also industrial and municipal waste of biological origin, biogas, hydrogen from renewable sources, etc.)  |  MWh  |  247,319   \n(8) **** Consumption from purchased or acquired electricity, heat, steam and cooling from renewable sources  |  MWh  |  220,819   \n**(9) Total renewable energy consumption** |  **MWh** |  **468,137**  \n**Percentage of renewable sources in total energy consumption** |  **%** |  **0.4%**  \n**Total energy consumption** |  **MWh** |  **110,679,319**  \n|  |   \n  \nIn addition to the absolute energy consumption figures, the Lufthansa Group\nhas, for the first time this reporting year, calculated the energy intensity\nfor the climate-intensive sectors. This amounted to 2.7 KWh per euro of\nrevenue for 2024.\n\nA detailed description of the calculation methodologies for energy use and\nenergy intensity can be found under [ Calculation methods in 2024 -\nEnvironment. ](/2024/annual-report/en/combined-management-report/combined-non-\nfinancial-declaration/e5-resource-use-and-circular-economy/metrics-and-\ntargets-2/#table_159021)\n\n#####  E1-6 - Gross Scopes 1, 2, 3 and Total GHG emissions\n\n######  The carbon footprint in accordance with the GHG Protocol is determined\nannually\n\nThe Lufthansa Group calculates its carbon footprint each year. The carbon\nfootprint of the Lufthansa Group represents the total of all carbon dioxide\nand other GHG emissions generated by its operations as defined by the\ninternationally recognised GHG Protocol standards \u2013 including significant\nemissions from the supply chain. To establish the greatest possible level of\ntransparency and comparability, the Lufthansa Group\u2019s carbon footprint is\nverified annually by an independent external audit organisation and detailed\ninformation is provided, including by means of the Group\u2019s participation in\nthe recognised CDP rating scheme. However, because ESRS has been applied for\nthe first time, there are some isolated changes in the data collection and\ncalculation methodology. A detailed description of these changes, as well as\ntheir impact on the carbon footprint, is provided under [ Calculation methods\nin 2024 - Environment. ](/2024/annual-report/en/combined-management-\nreport/combined-non-financial-declaration/e5-resource-use-and-circular-\neconomy/metrics-and-targets-2/#table_159021)\n\nThe carbon emissions for 2024 are presented in the following table.\n\n**T058** |  **ESRS E1-6 | AR48 GHG** **emissions** **in 2024**  \n---|---  \n|  |  |  Retrospective  |  Milestones and target years   \n|  |  Base year   \n(2019)  |  2023  |  2024  |  Change in %  |  2025  |  2030  |  Annual % of target/   \nBase year  \n|  |  |  |  |  |  |  |   \n**Scope 1** **GHG** **emissions** |  |  |  |  |  |  |  |   \nGross Scope 1 GHG emissions  |  in 1,000 tonnes CO  2  e  |  33,349  |  26,822  |  29,159  |  9%  |  n/a  |  see E1-4 targets  |  n/a   \nPercentage of Scope 1 emissions from regulated  \nemissions trading systems  |  %  |  26%  |  32%  |  33%  |  3%  |  n/a  |  n/a  |  n/a   \n**Scope 2** **GHG** **emissions** |  |  |  |  |  |  |  |   \nGross location-based Scope 2  \nGHG emissions  |  in 1,000 tonnes CO  2  e  |  260  |  161  |  124  |  -23%  |  n/a  |  n/a  |  n/a   \nGross market-based Scope 2  \nGHG emissions  |  in 1,000 tonnes CO  2  e  |  200  |  91  |  49  |  -46%  |  n/a  |  see E1-4 targets  |  n/a   \n**Significant Scope 3**  \n**GHG** **emissions** |  |  |  |  |  |  |  |   \nTotal indirect (Scope 3)  \ngross GHG emissions  |  in 1,000 tonnes CO  2  e  |  10,589  |  10,063  |  13,734  |  36%  |  n/a  |  n/a  |  n/a   \n(1) Purchased goods and  \nservices  |  in 1,000 tonnes CO  2  e  |  12  |  9  |  3,326  |  36,856%  |  n/a  |  n/a  |  n/a   \n(2) Assets  |  in 1,000 tonnes CO  2  e  |  806  |  369  |  301  |  -18%  |  n/a  |  n/a  |  n/a   \n(3) Activities related to fuels and energy (not in Scope 1 or Scope 2)  |  in 1,000 tonnes CO  2  e  |  7,893  |  5,995  |  6,313  |  5%  |  n/a  |  see E1-4 targets  |  n/a   \n(4) Upstream transport and distribution  |  in 1,000 tonnes CO  2  e  |  1,441  |  1,123  |  1,821  |  62%  |  n/a  |  n/a  |  n/a   \n(5) Waste generated in operations  |  in 1,000 tonnes CO  2  e  |  271  |  3  |  12  |  300%  |  n/a  |  n/a  |  n/a   \n(6) Business travel  |  in 1,000 tonnes CO  2  e  |  63  |  41  |  46  |  12%  |  n/a  |  n/a  |  n/a   \n(7) Commuting own workforce  |  in 1,000 tonnes CO  2  e  |  38  |  55  |  58  |  5%  |  n/a  |  n/a  |  n/a   \n(8) Upstream leased  \nassets  |  in 1,000 tonnes CO  2  e  |  n/a  |  1  |  0  |  -100%  |  n/a  |  n/a  |  n/a   \n(9) Downstream transport  |  in 1,000 tonnes CO  2  e  |  n/a  |  1  |  1  |  0%  |  n/a  |  n/a  |  n/a   \n(10) Processing of sold products  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(11) Use of sold products  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(12) End-of-life treatment of products  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(13) Downstream leased  \nassets  |  in 1,000 tonnes CO  2  e  |  65  |  502  |  631  |  26%  |  n/a  |  n/a  |  n/a   \n(14) Franchises  |  in 1,000 tonnes CO  2  e  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a  |  n/a   \n(15) Capital expenditure  |  in 1,000 tonnes CO  2  e  |  not available  |  1,964  |  1,225  |  -38%  |  n/a  |  n/a  |  n/a   \n**Total GHG emissions** |  |  |  |  |  |  |  |   \nTotal GHG emissions  \n(location-based)  |  in 1,000 tonnes CO  2  e  |  44,198  |  37,046  |  43,017  |  16%  |  n/a  |  see E1-4 targets  |  14%  1  )   \nTotal GHG emissions  \n(market-based)  |  in 1,000 tonnes CO  2  e  |  44,138  |  36,976  |  42,942  |  16%  |  n/a  |  see E1-4 targets  |  14%  1  )   \n|  |  |  |  |  |  |  |   \n1)  Relates to Scope 1 and Scope 3, Category 3 and is variable depending on\nthe assumed RTK growth until 2030.  \n  \nFor Scope 3 Category 1 and Category 5, there are significant deviations\ncompared with the previous year. These are due to an expanded data collection\nmethodology. Further details can be found under [ Calculation methods in 2024\n- Environment. ](/2024/annual-report/en/combined-management-report/combined-\nnon-financial-declaration/e5-resource-use-and-circular-economy/metrics-and-\ntargets-2/#table_159021)\n\nIn addition to the GHG emissions from fossil fuel sources, the Lufthansa Group\nalso calculates the emissions resulting from the combustion of biogenic energy\nsources, particularly SAF. For 2024, these amount to 63,741 t CO2e in Scope 1.\nThere were no biogenic emissions in Scope 2 or Scope 3.\n\nSimilar to energy intensity, this is the first year that the Lufthansa Group\nis reporting on carbon intensity. The amount of carbon dioxide equivalents\nemitted per million euros of net revenue is detailed in the following table.\n\n**T059** |  **ESRS E1-6 | 54 GHG intensity by net revenue in 2024**  \n---|---  \n|  |  2023  |  2024  |  Change in %   \n|  |  |  |   \nGHG emissions intensity by net revenue (location-based)  |  t CO  2  e/EUR m  |  n/a  |  1,145  |  n/a   \nGHG emissions intensity by net revenue (market-based)  |  t CO  2  e/EUR m  |  n/a  |  1,143  |  n/a   \n|  |  |  |   \n  \n#####  E1-7 \u2013 GHG removals and GHG mitigation projects financed through carbon\ncredits\n\n######  The Lufthansa Group incorporates carbon offset contributions to\nachieve its voluntary climate change mitigation target\n\nBeyond the reduction defined by the SBTi targets, the Lufthansa Group aims to\nmeet its self-imposed goal \u2013 to halve its net carbon emissions by 2030\ncompared with 2019. This includes voluntary carbon offsets. These offsets\ncontribute significantly to the climate change mitigation target. The carbon\noffset contributions flow into a portfolio of climate change mitigation\nprojects, which includes initiatives in various countries around the world,\nsuch as Germany, Austria and Switzerland. Currently, the Lufthansa Group is\nsupported in this endeavour by the organisations myclimate, Climate Austria,\nSQUAKE and ClimatePartner. The project portfolio includes modern, technology-\nbased projects such as CarbonCure\u2019s sustainable concrete (which captures\ncarbon and stores it longterm in concrete) and Biochar (carbon removal through\nplant-based biomass). In doing so, the Lufthansa Group fosters the development\nof the carbon offset market towards new technologies and offerings that\ndeliver long-term carbon sequestration. This standard is recommended by the\nGerman Environment Agency. Passengers contribute through offerings for more\nsustainable flying, such as the Green Fares flight tariff offered by the\nLufthansa Group\u2019s airlines Lufthansa Airlines, Austrian Airlines, Brussels\nAirlines, SWISS, Edelweiss, Discover Airlines and Air Dolomiti. In addition to\nthe voluntary offsetting activities described in this report, the Lufthansa\nGroup also participates in CORSIA as a mandatory offsetting scheme in the\naviation sector. In the long term, the Lufthansa Group aims to become carbon\nneutral by 2050 through measures such as these.\n\nReducing emissions through measures such as fleet modernisation, improvements\nin operational efficiency and the use of SAF is associated with high costs. As\na sector that is difficult to decarbonise, aviation will be reliant on the use\nof carbon certificates in the long term.\n\nBy using carbon credits, the Lufthansa Group ensures that measures which help\nto prevent the generation of GHG in the first place, such as fleet\nmodernisation, are not hindered. Investments in operational measures are\nprioritised over carbon credits as a reduction measure. However, based on the\ncurrent state-of-the-art, further reduction measures beyond those already\nimplemented are not economically viable for the Lufthansa Group at this time.\nFor this reason, carbon credits are indispensable as a means of carbon\noffsetting. In addition, customers purchase and finance carbon credits. This\nmeans no investment funds become permanently tied up that could otherwise be\nallocated to other reduction measures.\n\nAll current projects in the Lufthansa Group climate change mitigation\nportfolio are certified to a high standard. Over 90% of these projects are\nverified against the Gold Standard, which is recommended by the German\nEnvironment Agency. In addition, two technology-based projects (CarbonCure\u2019s\nsustainable concrete and biochar) are certified under the Puro Earth Standard\nand the Verified Carbon Standard (VCS). Projects by Climate Austria are\ncertified in accordance with local Austrian standards and national\nenvironmental funding regulations. Another local project within Europe is\ncertified under the MoorFutures Standard.\n\nThe amount of retired carbon certificates, as well as the planned amount of\ncarbon certificates to be retired in the future, is listed in the following\ntable. The total amount of carbon credits planned for retirement is\nexclusively based on contracts concluded with carbon credit providers.\nHowever, deviations between the planned values and the actual values may occur\nfor 2025. A detailed description of the calculation methodologies can be found\nunder [ Calculation methods in 2024 - Environment. ](/2024/annual-\nreport/en/combined-management-report/combined-non-financial-\ndeclaration/e5-resource-use-and-circular-economy/metrics-and-\ntargets-2/#table_159021)\n\n**T060** |  **ESRS E1-7 | 59a & b Carbon certificates retired in reporting year 2024 **  \n---|---  \n|  |   \n|  |   \nTotal  |  t CO  2  e  |  606,007   \nPercentage of reduction projects  |  t CO  2  e  |  545,580   \nPercentage of removal projects  |  t CO  2  e  |  60,427   \nOf which on a technological basis  |  %  |  5%   \nOf which on a biogenic basis  |  %  |  95%   \n**Percentage by primary standards used** |  |   \nPercentage Plan Vivo  |  %  |  6%   \nPercentage Gold Standard  |  %  |  90%   \nPercentage MoorFutures  |  %  |  1%   \nPercentage Puro Earth Standard  |  %  |  1%   \n**Carbon certificates to be retired in future reporting years** |  |   \nCarbon certificates to be retired in future based on the volume sold by the Lufthansa Group in 2024  |  t CO  2  e  |  657,235   \n|  |   \n  \nBased on the absolute amounts of retired carbon certificates presented in the\nabove table, 10% relate to removal projects and 90% to reduction projects. 3%\nof the retired certificates relate to projects carried out in Europe.\nMoreover, the Lufthansa Group has not retired any carbon certificates that\nfall under Article 6 of the Paris Climate Agreement.\n\n#####  E1-9 \u2013 Anticipated financial effects from material physical and\ntransition risks and potential climate-related opportunities\n\nThe Lufthansa Group is making use of the option available under ESRS 1\nParagraph 137 to omit the disclosures required under ESRS E1-9 in the first\nyear of preparation of its consolidated non-financial statement.\n\n[ Back  Impact, risk and opportunity management  ](/2024/annual-\nreport/en/combined-management-report/combined-non-financial-\ndeclaration/e1-climate-change/impact-risk-and-opportunity-management-1/) [\nNext  E2 - Pollution  ](/2024/annual-report/en/combined-management-\nreport/combined-non-financial-declaration/e2-pollution/)\n\n##  REPORTING COCKPIT\n\nFind content relevant to you by entering a search term or selecting a topic.\nOr select a topic:\n\n##\n\n  * [ Lufthansa Group ](https://www.lufthansagroup.com/en/home.html)\n    * [ Company ](https://www.lufthansagroup.com/en/company.html)\n    * [ Responsibility ](https://www.lufthansagroup.com/en/responsibility.html)\n    * [ Investor Relations ](https://investor-relations.lufthansagroup.com/de.html)\n    * [ Jobs & Careers ](https://lufthansagroup.careers/en)\n    * [ Supply Chain Management ](https://www.lufthansagroup.com/en/suppliers.html)\n  * [ Current ](https://newsroom.lufthansagroup.com/en)\n    * [ Newsroom ](https://newsroom.lufthansagroup.com/en)\n    * [ Media Lounge ](https://medialounge.lufthansagroup.com/en)\n    * [ Policy brief ](https://politikbrief.lufthansagroup.com/en)\n  * [ Service ](https://www.lufthansagroup.com/en/service.html)\n    * [ Contact ](https://www.lufthansagroup.com/en/service/contact.html)\n    * [ Imprint ](https://www.lufthansagroup.com/en/service/imprint.html)\n    * [ Disclaimer ](https://investor-relations.lufthansagroup.com/en/service/disclaimer.html)\n    * [ Privacy ](https://www.lufthansagroup.com/en/service/privacy.html)\n  * [ German ](/2024/annual-report/de/)\n  *     * [ Twitter  ](https://www.twitter.com/LufthansaNews/)\n\n  *   * [ Key figures  ](/2024/annual-report/en/key-figures/)\n  * [ Download  ](/2024/annual-report/en/downloads/)\n\n",
                "url": "https://report.lufthansagroup.com/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/"
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            "summary": "Lufthansa Group's annual report section on climate change metrics and targets.",
            "url": "https://report.lufthansagroup.com/2024/annual-report/en/combined-management-report/combined-non-financial-declaration/e1-climate-change/metrics-and-targets/"
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                    "source": "https://www.weforum.org/stories/2022/02/how-metaverse-actually-impacts-the-environment/"
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                "page_content": "#  Access Denied\n\nYou don't have permission to access\n\"http://www.weforum.org/stories/2022/02/how-metaverse-actually-impacts-the-\nenvironment/\" on this server.\n\nReference #18.d33e1202.1745501496.3e545cd2\n\nhttps://errors.edgesuite.net/18.d33e1202.1745501496.3e545cd2\n\n",
                "url": "https://www.weforum.org/stories/2022/02/how-metaverse-actually-impacts-the-environment/"
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            "summary": "An article from the World Economic Forum discussing the environmental impact of the metaverse.",
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                    "source": "https://www.wildbit.com/blog/wildbits-2020-environmental-footprint.html"
                },
                "page_content": "\ud83d\udce3  **Postmark has been acquired by ActiveCampaign**\n\n[ Continue reading \u2192 ](/blog/postmark-has-been-acquired-by-activecampaign)\n\n[ x ](/blog/wildbits-2020-environmental-footprint#)\n\n[ ](/blog/author/mattwest) [ Matt  West  ](/blog/author/mattwest) June 8th  \n2021\n\n#  Wildbit\u2019s 2020 environmental footprint\n\nFollowing on from our [ first environmental impact study\n](/blog/2020/06/30/measuring-wildbits-environmental-impact) last year, we\nentered 2020 with optimistic plans to reduce our carbon footprint. It turns\nout that nature had some plans of its own.\n\nWildbit has been a remote company for 20 years, but the COVID-19 pandemic\nstill impacted how we operate. While our day-to-day operations stayed mostly\nthe same, travel plummeted this year as we canceled our annual team retreat\nand conferences moved online.\n\nFor 2020, we again focused on measuring our three main areas of emissions:\ninfrastructure, travel, and operations. We have a little more experience\nmeasuring our emissions this year, but there are still some significant\ndifficulties in calculating [ the impact of a remote SaaS business ](/people-\nfirst/impact) .\n\n##  Infrastructure emissions\n\nOur engineering team continued to move services from our colocated data center\nto AWS in 2020. This has helped reduce our estimated infrastructure footprint\nfrom 61.4 tCO2e in 2019 to 58.4 tCO2e in 2020.\n\n> tCO2e means metric tonnes of Carbon Dioxide Equivalent. This unit\n> incorporates the [ global warming potential\n> ](https://www.epa.gov/ghgemissions/understanding-global-warming-potentials)\n> of a range of polluting gases and converts the amount of each gas into the\n> equivalent amount of Carbon Dioxide, giving us a single figure to track\n> emissions by.\n\nCloud providers like AWS operate data centers that run far [ more efficiently\nthan most colocated operations\n](https://sustainability.aboutamazon.com/carbon_reduction_aws.pdf) . However,\nwe lose the ability to monitor the energy consumption of our hardware with\nthese providers, making it incredibly difficult to report emissions caused by\nour usage. We haven\u2019t found a way to estimate emissions from our AWS usage\nyet. For Google Cloud, we\u2019ve applied [ research done by the team at Etsy\n](https://codeascraft.com/2020/04/23/cloud-jewels-estimating-kwh-in-the-\ncloud/) to estimate emissions from our usage and billing data.\n\n|  **2019** **(tCO2e)** |  **2020** **(tCO2e)**  \n---|---|---  \nCo-located data center  |  60.2  |  57.8   \nGoogle Cloud  |  N/A  |  0.001*   \nAWS  |  N/A  |  N/A   \nOther _Marketing websites estimated emissions based on page views_ |  1.2  |  0.6   \n**Totals** |  61.4  |  58.4   \n  \n_*_ [ _Google cloud runs on 100% renewable energy_\n](https://cloud.google.com/sustainability) _, so we\u2019re only accounting for\nemissions associated with transmission and distribution losses._\n\n##  Travel emissions\n\nAfter starting the year with exciting plans for a blowout team retreat to\ncelebrate [ Wildbit\u2019s 20th birthday ](/labs/modalbox/) , COVID-19 brought all\nof our plans to an abrupt halt. With the exception of a leads team retreat in\nearly January, we canceled almost all our travel plans in 2020.  \n  \nOur overall travel footprint in 2020 was 3.4 tCO2e compared to 20.5 tCO2e in\n2019, an 83% reduction. We\u2019ve made the call not to hold an annual retreat in\n2021 either, so we expect this number to remain low in 2021.\n\n**Flights  \n** With no retreat, we made just 19 flights in 2020. Traveling a total of\n17,936 miles compared to the 100,148 miles we flew in 2019. Our carbon\nfootprint went from 16.2 tCO2e in 2019 to 2.8 tCO2e in 2020, a huge 83%\nreduction.\n\n**Ground** **t** **ransport  \n** Taxis, trains, and bus travel accounted for 530 miles and 0.1 tCO2e in 2020\ncompared to 1,376 miles and 0.5 tCO2e in 2019. This covers travel associated\nwith company trips and conferences. Some team members use local co-working\nspaces but we don't currently track their commutes.\n\nThe percentage of ground travel using public transport increased from 13% in\n2019 to 45% in 2020. Pre-pandemic we had set out to encourage the use of\npublic transport over Uber and private taxis to help reduce our travel\nfootprint. Given the low level of travel in 2020, it\u2019s difficult to say\nwhether those efforts actually contributed to the increase in public transport\nusage or not. It\u2019s something we want to continue working on once travel\nincreases again though.\n\n**Hotel** **s** **tays  \n** With the cancellation of our annual retreat and in-person conferences,\nhotel stays were drastically reduced. Going from 184 nights in 2019 to 21\nnights in 2020. Emission associated with hotel stays reduced from 3.7 tCO2e to\n0.5 tCO2e.\n\n|  **2019** |  |  **2020** |   \n---|---|---|---|---  \n|  **Miles / Nights** |  **Emissions** **(tCO2e)** |  **Miles / Nights** |  **Emissions** **(tCO2e)**  \nAir Transport  |  100,148  |  16.210  |  17,936  |  2.766   \nPrivate Transport _Ubers, taxis, private-hire buses, etc._ |  1,194  |  0.525  |  290  |  0.098   \nPublic Transport _Trains, trams, buses, etc._ |  182  |  0.026  |  240  |  0.039   \nHotel Stays  |  184  |  3.735  |  21  |  0.456   \n**Total** |  **101,524 / 184** |  **20.5** |  **18,466 / 21** |  **3.4**  \n  \n##  Operations emissions\n\nIn 2019 we decided to [ downsize our HQ in Philadelphia\n](/blog/2019/11/08/downsizing-the-office-upsizing-remote-first) and move to a\ndedicated area in a co-working space. That worked out pretty well for a while,\nbut once the pandemic hit and we were all bound to our homes the office didn\u2019t\nget much use.\n\nWildbit office in a co-working apace\n\nAs the co-working space has shared utility meters, we lost our ability to\naccurately measure our electricity and gas usage after the move. Instead, we\nestimated our usage based on figures released by the US Energy Information\nAdministration ( [ electricity\n](https://www.eia.gov/consumption/commercial/data/2012/c&e/cfm/c17.php) [ data\n](https://www.eia.gov/consumption/commercial/data/2012/c&e/cfm/c17.php) , [\ngas data\n](https://www.eia.gov/consumption/commercial/data/2012/c&e/cfm/c24.php) ).\nBased on these estimates, our electricity footprint came in at 1 tCO2e and our\ngas footprint at 2.3 tCO2e in 2020.  \n  \nThat\u2019s not the full picture though. The tenants we sub-let our old HQ to are\nin the travel industry and were badly impacted when the pandemic hit. They\nmoved out in June and we took on responsibility for the building again.\nAccounting for the electricity and gas usage to keep the old office ticking\nover while it was unoccupied pushes the footprint of our total operations for\n2020 up to 14.2 tCO2e, an increase of ~20%.\n\n|  **2019** **(tCO2e)** |  **2020** **(tCO2e)**  \n---|---|---  \nPhiladelphia HQ  |  12  |  10.9   \nDedicated co-working space  |  N/A  |  3.3   \n**Total** |  12  |  14.2   \n  \nWe\u2019ve since decided to go fully remote and vacated the co-working space when\nour lease expired in March 2021.\n\n##  Wildbit\u2019s 2020 footprint\n\nLooking back on an unusual year, our 2020 estimate footprint came out at 76\ntCO2e. 20% lower than our footprint in 2019. That\u2019s about the same as the\nemissions from burning a tanker full of gasoline.\n\n|  **2019** |  **2020**  \n---|---|---  \nInfrastructure  |  61.4  |  58.4   \nTravel  |  20.5  |  3.4   \nOperations  |  11.9  |  14.2   \n**Total** |  **93.8 tCO2e** |  **76 tCO2e**  \n  \nWe worked with [ Gold Standard ](https://www.goldstandard.org/) again this\nyear to purchase carbon credits from a [ solar power project in Bhadla, India\n](https://marketplace.goldstandard.org/collections/projects/products/eki-\nenergy-services-gold-standard-foundation-400-mw-solar-power-project-at-bhadla-\nrajasthan-india) to offset our footprint. While purchasing carbon offsets is\nnot a long-term solution to the climate crisis, it can help some of the\ncommunities most at risk from the effects of climate change.  \n  \nOur next big challenge is to find a way to estimate the energy usage of our\nfully remote team and factor that into our footprint. Last year we tried\nrunning a survey with the team to collect information about their energy use\nbut found it difficult to get hold of accurate numbers due to the wide range\nof energy sources and billing intervals used across our team.  \n  \nWe\u2019re currently looking into ways we can estimate energy usage based on\nlocation-based averages. We\u2019ll be sure to share our approach once we\u2019ve\nfigured it out. If you\u2019ve tackled this for your own team, we\u2019d love to hear\nfrom you. Send us [ an email ](mailto:hello@wildbit.com) or give us a shout [\non Twitter ](https://twitter.com/Wildbit) !\n\n##  More in  Culture\n\n  * [ Leading during a crisis... again. ](/blog/newsletter-march-2022)\n  * [ Should we *really* aim for work-life balance? ](/blog/newsletter-february-2022)\n  * [ The 4 Rs of people-first culture ](/blog/people-first-culture)\n  * [ Deep work, chill work: a conversation with Rand Fishkin ](/events/rand-fishkin)\n  * [ Asking deep questions about what \u2018work\u2019 is ](/blog/newsletter-january-2022)\n\nCopyright \u00a9 2024 Wildbit LLC\n\n",
                "url": "https://www.wildbit.com/blog/wildbits-2020-environmental-footprint.html"
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                "page_content": "Please enable cookies.\n\n#  Sorry, you have been blocked\n\n##  You are unable to access  www.nationalgrid.com\n\n##  Why have I been blocked?\n\nThis website is using a security service to protect itself from online\nattacks. The action you just performed triggered the security solution. There\nare several actions that could trigger this block including submitting a\ncertain word or phrase, a SQL command or malformed data.\n\n##  What can I do to resolve this?\n\nYou can email the site owner to let them know you were blocked. Please include\nwhat you were doing when this page came up and the Cloudflare Ray ID found at\nthe bottom of this page.\n\nCloudflare Ray ID: **9355f644beead0a6** \u2022  Your IP:  2600:1900:0:3701::501  \u2022\nPerformance & security by  [ Cloudflare ](https://www.cloudflare.com/5xx-\nerror-landing)\n\n",
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                "page_content": "Skip to main content\n\n[ ](/index/)\n\nSolutions\n\n  * Solutions \n\n    * [ Consent & Preferences  Streamline consent and preference management for consumer transparency  ](/content/onetrust/us/en/solutions/consent-and-preferences)\n\n    * [ Third-Party Management  Automate third-party management from intake and risk assessment to mitigation and reporting  ](/content/onetrust/us/en/solutions/third-party-management)\n\n  *     * [ Privacy Automation  Enable responsible use throughout the data lifecycle  ](/content/onetrust/us/en/solutions/privacy-automation)\n\n    * [ Tech Risk & Compliance  Scale your resources and optimize your risk and compliance lifecycle  ](/content/onetrust/us/en/solutions/tech-risk-and-compliance)\n\n  *     * [ Data & AI Governance  Govern your data and AI while accelerating innovation  ](/content/onetrust/us/en/solutions/data-and-ai-governance)\n\n  * Featured Products \n\n    * [ AI Governance  ](/content/onetrust/us/en/products/ai-governance)\n\n    * [ Data Discovery & Classification  ](/content/onetrust/us/en/products/data-discovery)\n\n    * [ Third-Party Risk Management  ](/content/onetrust/us/en/products/third-party-risk-management)\n\n[ View all products ](/content/onetrust/us/en/products)\n\n  * Regulatory Solutions \n\n    * [ GDPR  ](/content/onetrust/us/en/solutions/gdpr-compliance)\n\n    * [ DORA  ](/content/onetrust/us/en/solutions/digital-operational-resilience-act-dora-compliance)\n\n    * [ EU AI Act  ](/content/onetrust/us/en/solutions/eu-ai-act-compliance)\n\n[ View all regulatory solutions ](/content/onetrust/language-\nmasters/en/solutions#regulations)\n\nPlatform\n\n  * OneTrust Platform \n\n    * [ Platform Overview  Build and demonstrate trust, measure and manage risk, and go beyond compliance  ](/content/onetrust/us/en/platform)\n\n  *     * [ Pricing  Explore our scalable packages designed to help you collect, govern, and use your data with complete visibility and control  ](/content/onetrust/us/en/pricing)\n\n  *     * [ Integrations  Our extensive set of integrations makes it easy to add data management to your workflows  ](/content/onetrust/us/en/integrations)\n\nResources\n\n  * Self-Service Resources \n\n    * [ Demo Videos  ](/content/onetrust/us/en/resources/onetrust-demos)\n\n    * [ Resource Library  ](/content/onetrust/us/en/resources)\n\n    * [ Customer Stories  ](/content/onetrust/us/en/customers)\n\n    * [ Blog  ](/content/onetrust/us/en/blog)\n\n  * Training & Events \n\n    * [ Training & Certifications  ](/content/onetrust/us/en/certifications)\n\n    * [ TrustWeek  ](/content/onetrust/us/en/trustweek)\n\n    * [ Connect Workshops  ](https://privacyconnect.com/)\n\n  * Support \n\n    * [ Support & Services  ](/content/onetrust/us/en/services)\n\n    * [ Partners  ](/content/onetrust/us/en/partners)\n\n    * [ MyOneTrust Help Center  ](https://my.onetrust.com/s/topiccatalog)\n\nCompany\n\n  * Company \n\n    * [ About Us  ](/content/onetrust/us/en/about-us)\n\n    * [ Trust Center  ](/content/onetrust/us/en/trust)\n\n    * [ Careers  ](/content/onetrust/us/en/careers)\n\n    * [ Newsroom  ](/content/onetrust/us/en/news)\n\n    * [ Contact Us  ](/content/onetrust/us/en/forms/contact-us)\n\n  * Newsroom \n\n[ Get the latest news, announcements, views, and more\n](/content/onetrust/us/en/news)\n\n[ __ Request demo  __ ](/forms/demo/)\n\n[ __ Contact sales  __ ](/forms/get-started/)\n\n__\n\n* * *\n\nOn-demand webinar coming soon...\n\n##  Blog\n\n#  The corporate carbon footprint: a quick guide\n\nA company\u2019s Corporate Carbon Footprint (CCF), is the total amount of GHG\nemissions that are directly or indirectly caused by a company\u2019s activities.\n\n* * *\n\n###  Table of Contents\n\n  * What\u2019s a Corporate Carbon Footprint? \n  * What\u2019s included in a CCF? \n  * Why should companies measure their CCF? \n  * How do you calculate a Corporate Carbon Footprint? \n  * Advance your ethical compliance \n\nA growing number of companies are pursuing ambitious carbon reduction targets\nto achieve carbon neutrality. In fact, [ more than one-third\n](https://zerotracker.net/insights/pr-net-zero-stocktake-2022) of the world\u2019s\nlargest publicly traded companies, now have net-zero targets. But a systematic\nreduction of greenhouse gas (GHG) emissions is only possible if emission\nintensive hotspots can be identified and quantified. The Corporate Carbon\nFootprint offers a proven methodology for companies to pinpoint emission\nhotspots and reduction opportunities. This guide will cover what a Corporate\nCarbon Footprint is, how to calculate it, and the value it can provide to your\nbusiness.\n\n**Download[ The Guide for Setting Corporate Climate Goals\n](https://www.onetrust.com/resources/setting-corporate-climate-goals-guide/)\nto learn more. **\n\n##  What\u2019s a Corporate Carbon Footprint?\u200d\n\nA company\u2019s carbon footprint, also known as Corporate Carbon Footprint (CCF),\nis the total amount of [ GHG emissions ](https://www.onetrust.com/blog/what-\nare-scope-1-2-3-emissions/) that are directly or indirectly caused by a\ncompany\u2019s activities. Calculating the CCF is usually the first step toward\ncarbon neutrality, because it provides clarity on your emissions hotspots.\nWithout visibility on where those hotspots are and how your business\nactivities are contributing, it\u2019s difficult to define realistic climate goals\nand reduction strategies.\n\n##  What\u2019s included in a CCF?\u200d\n\nA Corporate Carbon Footprint covers all direct and indirect emissions related\nto a company\u2019s activities. This means that emissions across the entire value\nchain are included. For example, manufacturing companies will include all\nemissions from sourcing, logistics, use of sold products, and end-of-life\ndisposal.\n\nA CCF is usually calculated for a specific period, such as a calendar year.\nAfter that, any changes to the CCF are tracked by reporting periods (e.g.,\nannually, quarterly, etc.).\n\n##  Why should companies measure their carbon footprint? What are the\nbenefits?\n\nA CCF calculation can serve various purposes. It creates the transparency\nneeded to discover your optimal emissions reduction opportunities. It also\nhelps you identify the most relevant climate risks and opportunities for your\nbusiness.\n\nMeasuring and tracking your carbon footprint also signals to stakeholders\n(investors, customers, employees, etc.) that you are serious about owning your\nresponsibility for environmental impact. And, as regulators and investors\nincreasingly focus on fighting climate change, demonstrating carbon\naccountability will be critical to long-term business survival. As a case in\npoint, banks and investors representing over [ $130 trillion in assets\n](https://www.bcg.com/publications/2022/companies-climate-change-strategies)\nare rapidly moving that capital toward decarbonization of the global economy.\n\n##  How do you calculate a Corporate Carbon Footprint?\n\nWhen measuring the carbon footprint of a business, one of the first steps is\nto define the scope of consideration. For a CCF calculation, this is largely\ndefined by standards such as the [ GHG Protocol\n](https://ghgprotocol.org/standards) or [ ISO 14064\n](https://www.iso.org/standard/66453.html) .\n\nThe basis for calculating a CCF is the data on your business activities.\nAlmost every action and decision made by a company can contribute to carbon\nemissions, so the more comprehensive and exact this data is, the more accurate\nyour CCF will be. Keep in mind that getting to net-zero is a journey, so the\nmost important thing you can do is take the first step. You can increase the\naccuracy over time as you learn more.\n\n###  Collecting data for your CCF\n\nData from company-controlled activities is typically well-documented and easy\nto retrieve. This can include things such as energy consumption (electrical,\nnatural gas, etc.) or business travel. By coupling this activity data with the\nappropriate emission factors, you can estimate the GHG emissions for each\nactivity.\n\nSome data may be more difficult to obtain, such as production or service\nactivities performed by your suppliers. Employee commuter traffic and energy\nconsumption of your products during the usage phase can also fall into this\ncategory. Companies are often unaware that indirect emissions from activities\nlike these should also be included in the CCF. Even though these emissions\nhappen outside a company\u2019s direct influence, they are occurring because of\ndecisions made by the company. These activities can represent a significant\npart of the company\u2019s emissions.\n\n###  Alternative methods for estimating indirect emissions\n\nWhile the most accurate method for capturing indirect emissions is to request\nconsumption data directly from employees, suppliers, and service providers, it\nisn\u2019t always feasible. There are various databases that can help you fill the\ngap with estimated GHG emissions from common business activities based on\nwidely available data. Examples include Scope 3 resources and databases\nprovided by the [ GHG Protocol ](https://ghgprotocol.org/life-cycle-databases)\n, [ US EPA ](https://www.epa.gov/climateleadership/scope-3-inventory-guidance)\n, and [ Impact Institute ](https://www.impactinstitute.com/products/global-\nimpact-database/gid-scope-3-emissions-data/) . Combining data from these\nresources with key figures from your business, such as the number of\nemployees, materials purchased, sales volume, etc. can help you evaluate your\nindirect emissions. The accuracy of your CCF will vary depending on the method\nused. Purely cost-based approaches tend to be imprecise because they rely on\nsector-wide averages averages and cost data is usually not available for use\nof sold products and end-of-life disposal. By using purchased material\nquantities (as opposed to the cost) as the basis for calculating carbon\nemissions, you can improve the accuracy of your carbon footprint.\n\n###  How to address product-related GHG emissions\n\nOnce you have calculated your CCF and put reduction strategies in place, you\ncan increase the depth of analysis with a Product Carbon Footprint (PCF). A\nPCF measures your product-related emissions and can leverage the data\ncollection and analyses already established with your CCF.\n\n##  How can businesses reduce their carbon emissions?\n\nAfter completing your CCF analysis and identifying all the emissions generated\nby your company, you can start looking for reduction opportunities. Because\nthe CCF looks at all emission sources, it provides a great starting point for\ndefining and implementing carbon reduction strategies. Every company\u2019s\napproach to reducing and offsetting its business carbon footprint will look\ndifferent, but a few common ways include:\n\n  * Terminating contracts with GHG-intensive suppliers in favor of others with a lower CCF. \n  * Reducing resource consumption in production processes. \n  * Introducing energy efficiency measures. \n  * Considering the frequency and necessity of business travel. \n  * Invest in [ high-quality carbon offset projects ](https://www.onetrust.com/blog/carbon-offsets-101-guide-for-going-climate-neutral/) . \n\nOne thing to note is that many standards, including the [ Science Based\nTargets initiative (SBTi) ](https://www.onetrust.com/blog/science-based-\ntargets-initiative-sbti-net-zero-standard/) , require you to reduce emissions\nfirst before offsetting residual emissions.\n\n##  Advance your ethical compliance\n\nEffective ethical management is crucial in today\u2019s business environment. The\nOneTrust Ethics Program Management solution provides your organization with\nthe tools necessary to enhance ethical practices and compliance. Our platform\nhelps manage and train on ethical policies, ensuring your business operates\nwith integrity and transparency. Equip your organization with the means to\nhandle ethical dilemmas effectively and maintain trust with all stakeholders.\n\n** **\n\n**Learn more about our[ Ethics Program Management solution\n](https://www.onetrust.com/platform/ethics-program-management/) today. **\n\n* * *\n\n#  You may also like\n\nWebinar\n\n####  Ethics Program Management\n\n###  From reactive to proactive: Transforming your ethics & compliance program\n\n###\n\nJoin this webinar to hear experts explore actionable strategies employed by\nEthics & Compliance programs to drive a more ethical culture.\n\n####  September 12, 2024\n\n[ Learn more  __ ](/resources/from-reactive-to-proactive-transforming-your-\nethics-and-compliance-program-webinar/)\n\nWebinar\n\n####  Ethics Program Management\n\n###  Drive employee engagement with Ethics Program Management\n\n###\n\nIn this tech talk, we will walk you through the customer's employee journey\nutilizing our Ethics Program Management suite of tools.\n\n####  May 21, 2024\n\n[ Learn more  __ ](/resources/drive-employee-engagement-with-ethics-program-\nmanagement-webinar/)\n\nWebinar\n\n####  Ethics Program Management\n\n###  EthicsConnect: Risk - It\u2019s not just for breakfast anymore\n\n###\n\nJoin us for a deep dive into embedding privacy by design into the fabric of\nyour business to promote the responsible use of data.\n\n####  April 25, 2024\n\n[ Learn more  __ ](/resources/ethicsconnect-risk-its-not-just-for-breakfast-\nanymore-webinar/)\n\neBook\n\n####  Ethics Program Management\n\n###  Business messaging apps: A guide to corporate compliance\n\n###\n\nHow can your business use third-party messaging apps while staying compliant?\nDive into key usage considerations based on the DOJ\u2019s 2023 guidance.\n\n####  February 13, 2024\n\n[ Learn more  __ ](/resources/business-messaging-apps-a-guide-to-corporate-\ncompliance-ebook/)\n\nWebinar\n\n####  Ethics Program Management\n\n###  Ethics Exchange: Third-party applications and ephemeral apps\n\n###\n\nLearn practical advice on how to navigate the risks of ephemeral apps and\nemployee privacy in BYOD world.\n\n####  December 05, 2023\n\n[ Learn more  __ ](/resources/ethics-exchange-topic-third-party-applications-\nand-ephemeral-apps-webinar/)\n\nWebinar\n\n####  Speak-Up Program Management\n\n###  Navigating the EU Whistleblower Protection Directive: New rules, new\nrisks\n\n###\n\nJoin our expert-led webinar where we explore the EU Whistleblower Protection\nDirective and practical steps towards compliance.\n\n####  November 02, 2023\n\n[ Learn more  __ ](/resources/navigating-the-eu-whistleblower-protection-\ndirective-new-rules-new-risks-webinar/)\n\nWebinar\n\n####  Ethics Program Management\n\n###  Ethics Exchange: Risk assessments\n\n###\n\nJoin our risk assessments experts as we discuss best practices, program\ntemplates, and how provide an assessment that provides the best value for your\norganization.\n\n####  October 25, 2023\n\n[ Learn more  __ 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and case management: What the EU Whistleblower\nDirective requires\n\n###\n\nOne of the challenges to come out of the EU Whistleblower Protection Directive\nis how companies should adopt local vs. centralized case management.\n\n####  July 06, 2022\n\n[ Learn more  __ ](/resources/local-vs-central-intake-requirements-webinar/)\n\nWebinar\n\n####  Ethics & Compliance\n\n###  GDPR and the EU Whistleblower Protection Directive webinar\n\n###\n\nJoin this webinar to learn how to review your whistleblowing processes to\ncomply with the EU Whistleblower Protection Directive, the GDPR and others.\n\n####  July 06, 2022\n\n[ Learn more  __ ](/resources/gdpr-and-eu-whistleblower-protection-directive-\nwebinar/)\n\n* * *\n\n* * *\n\n###  Top Searches\n\n  * [ Trust Center  ](/trust/)\n  * [ Consent & Preferences  ](/solutions/consent-and-preferences/)\n  * [ Third-Party Management  ](/solutions/third-party-management/)\n  * [ AI Governance  ](/products/ai-governance/)\n\n###  Resources\n\n  * [ 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                "url": "https://www.onetrust.com/blog/corporate-carbon-footprint-guide/"
            },
            "reason": "This is a blog post from OneTrust providing a guide on corporate carbon footprints. While it's a company blog, OneTrust is a reputable company in the privacy and compliance space, and the guide appears informative and well-researched.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' environmental impact carbon footprint",
            "summary": "A blog post from OneTrust providing a guide on corporate carbon footprints.",
            "url": "https://www.onetrust.com/blog/corporate-carbon-footprint-guide/"
        },
        {
            "content": {
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                    "resource_type": "webpage",
                    "source": "https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html"
                },
                "page_content": "[ ](/english)\n\n  * [ \u00e6\u0097\u00a5\u00e6\u009c\u00ac\u00e8\u00aa\u009e ](/)\n  * English \n  * [ \u00e4\u00b8\u00ad\u00e6\u0096\u0087 ](//www.kobelco.cn/)\n\nMenu\n\n[ Outline of KOBELCO ](/english/about_kobelco/outline/index.html)\n\n    \n\n  * [ Message from the Chief Officer Responsible for Companywide Environmental Management ](/english/about_kobelco/outline/integrated-reports/subordinate2020/message.html)\n  * [ Material Balance ](/english/about_kobelco/outline/integrated-reports/subordinate2020/resource.html)\n  * [ Initiatives to Reduce Energy and CO  2  Emissions ](/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html)\n  * [ Promoting Resource Recycling ](/english/about_kobelco/outline/integrated-reports/subordinate2020/resourcere-cycling.html)\n  * [ Appropriate Management of Chemical Substances ](/english/about_kobelco/outline/integrated-reports/subordinate2020/chemical.html)\n  * [ Measures to Counter Dust at Kakogawa Works ](/english/about_kobelco/outline/integrated-reports/subordinate2020/dust.html)\n  * [ Appropriate Management of Water Resources ](/english/about_kobelco/outline/integrated-reports/subordinate2020/water.html)\n  * [ Environmental Accounting ](/english/about_kobelco/outline/integrated-reports/subordinate2020/accounting.html)\n  * [ Status of Compliance with Environmental Laws and Regulations in Fiscal 2019 ](/english/about_kobelco/outline/integrated-reports/subordinate2020/compliance.html)\n  * [ Promoting Environmental Qualifications ](/english/about_kobelco/outline/integrated-reports/subordinate2020/promotion.html)\n  * [ Contribution to Biodiversity ](/english/about_kobelco/outline/integrated-reports/subordinate2020/biodiversity.html)\n  * [ Disclosing Environmental Information via Public Monitors ](/english/about_kobelco/outline/integrated-reports/subordinate2020/monitor.html)\n  * [ Disaster Prevention Initiatives ](/english/about_kobelco/outline/integrated-reports/subordinate2020/efforts.html)\n\n  * [ About Us ](/english/about_kobelco/index.html)\n  * [ Products ](/english/products/index.html)\n  * [ Investor Relations ](/english/ir/index.html)\n  * [ Locations ](/english/about_kobelco/kobesteel/locations)\n\n  1. [ Home  ](//www.kobelco.co.jp/english/)\n  2. [ About Us ](/english/about_kobelco/index.html)\n  3. [ Outline of KOBELCO ](/english/about_kobelco/outline/index.html)\n  4. [ Integrated Report & ESG Data Book ](/english/about_kobelco/outline/integrated-reports/index.html)\n  5. [ Supplementary Material for Integrated Report 2020 ](/english/about_kobelco/outline/integrated-reports/subordinate2020/index.html)\n  6. _Initiatives to Reduce Energy and CO 2  Emissions _\n\nSupplementary Material for Integrated Report 2020\n\n#  Initiatives to Reduce Energy and CO  2  Emissions  \n\n##  Energy Usage during Manufacturing Processes\n\nIn fiscal 2019, the KOBELCO Group worldwide used a total of 196 PJ of energy\n(equivalent to 5.06 million kl of crude oil) in all of its business divisions.\n\n###  KOBELCO Group worldwide energy data over the past three years\n\n|  Unit  |  FY 2017  |  FY 2018  |  FY 2019   \n---|---|---|---|---  \nEnergy usage  |  PJ  |  218  |  206  |  196   \nNet sales  |  Million yen  |  1,881,158  |  1,971,869  |  1,869,835   \nEnergy intensity per Net sales  |  GJ/ Million yen  |  116  |  104  |  105   \nCompared to FY2017  |  \\-  |  -10%  |  -10%   \nProducts (crude steel, aluminum rolled  \nproducts, copper rolled products)  |  Million t  |  8.1  |  7.5  |  7.0   \nEnergy intensity per t-product  |  GJ/ t-Product  |  27.1  |  27.5  |  27.8   \n  \n  * Note: \n\n1\\. Emissions for past years have been recalculated due to revisions to\nelectric power coefficients, etc.\n\n2\\. The data above covers 99% of the environmental impact of the KOBELCO\nGroup.\n\n##  CO  2  Emissions\n\nIn response to global warming, the KOBELCO Group promotes rationalization and\nR&D to reduce energy consumption throughout its operations in an effort to\ndecrease greenhouse gas emissions.\n\nIn fiscal 2019, the KOBELCO Group\u2019s businesses generated 16.5 Mt of CO  2\nemissions in total.\n\n###  KOBELCO Group worldwide CO  2  emissions over the past three years\n\n|  Unit  |  FY 2017  |  FY 2018  |  FY 2019   \n---|---|---|---|---  \nCO  2  emissions (Scope 1 + 2)  |  Million t-CO  2  |  18.7  |  17.4  |  16.5 (16.3  *1  \u2714)   \nCO  2  emissions (Scope1)  |  Million t-CO  2  |  17.7  |  16.4  |  15.6 (15.5  *1  \u2714)   \nCO  2  emissions (Scope2)  |  Million t-CO  2  |  1.0  |  1.0  |  0.9 (0.8  *1  \u2714)   \nNet sales  |  Million yen  |  1,881,158  |  1,971,869  |  1,869,835   \nCO  2  emission intensity per Net sales  |  t-CO  2  / Million yen  |  9.9  |  8.8  |  8.8   \nCompared to FY2017  |  \\-  |  -11%  |  -11%   \nProducts (crude steel, aluminum rolled  \nproducts, copper rolled products)  |  Million t  |  8.1  |  7.5  |  7.0   \nCO  2  emission intensity per t-Product  |  t-CO  2  / t-Product  |  2.3  |  2.3  |  2.3   \n  \n  * *1 Kobe Steel, Ltd. and group companies in Japan \n\n*2 The data above covers 99% of the environmental impact of the KOBELCO Group. Emissions from offices are not included. \n\n*3 Emissions from the Iron & Steel Business include those from coke production. \n\n*4 As emission factors from purchased power in fiscal 2019 have yet to be announced, results for fiscal 2018 were used. \n\n*5 Emissions for past years have been recalculated due to revisions to electric power coefficients, etc. \n\n\u2714: Items covered by third-party assurance. In order to improve the reliability\nand transparency of CO  2  emissions data, Kobe Steel receives a third-party\nassurance.\n\n    * [ Third Party Assurance ](/english/sustainability/assurance.html)\n\n###  Kobe Steel, Ltd. Scope 3 emissions over the past three years (unit:\nthousand t-CO  2  ) (Amended December, 2020)\n\nCategory  |  FY 2017  |  FY 2018  |  FY 2019  |  Calculation method   \n---|---|---|---|---  \n1\\. Purchased goods and services  |  5,805  |  5,353  |  5,214 \u2714  |  Annual amount of iron ore, coking coal, aluminum and copper multiplied by CO  2  emissions unit values  *1   \n2\\. Capital goods  |  289  |  273  |  263 \u2714  |  Capital investment cost multiplied by CO  2  emissions unit values  *1   \n3\\. Fuel- and energy-related activities  |  295  |  278  |  302 \u2714  |  Annual consumption of electricity, steam and fuel etc. multiplied by CO  2  emissions unit values  *1   \n4\\. Upstream transportation and distribution  |  211  |  201  |  192 \u2714  |  Using the calculation method for energy-derived CO  2  emissions related to freight transportation by shippers as stipulated in the Act  *2  .   \n5\\. Waste generated in operations  |  41  |  34  |  39 \u2714  |  The amount of industrial waste for each type multiplied by CO  2  emissions unit values  *1    \n* Figures for FY 2017 are estimated based on data from 2018.   \n6\\. Business travel  |  1  |  1  |  2 \u2714  |  Number of employees multiplied by CO  2  emissions unit values  *1   \n7\\. Employee commuting  |  5  |  5  |  5 \u2714  |  Number of employees multiplied by CO  2  emissions unit values  *1   \n8\\. Upstream leased assets  |  N/A  |  N/A  |  N/A  |  CO  2  emissions associated with the operation of assets leased to Kobe Steel are included in Scope 1 and Scope 2 emissions.   \n9\\. Downstream transportation and distribution  |  N/A  |  N/A  |  N/A  |  We have no applicable business activities.   \n10\\. Processing of sold products  |  3,131  |  2,946  |  2,713 \u2714  |  Calculated by multiplying the volume of major steel products by the CO  2  emissions per unit of production for each type of steel product.   \n11\\. Use of sold products  |  \\-  |  \\-  |  24,702 \u2714  |  Covers major products sold by Machinery business of Kobe Steel.   \nCalculated based on the emissions associated with use for the duration of the\nservice life.  \n12\\. End-of-life treatment of sold products  |  71  |  66  |  62 \u2714  |  Calculated by multiplying CO  2  emissions unit values  *1  by the production volume of crude steel, aluminum and copper products   \n13\\. Downstream leased assets  |  N/A  |  N/A  |  N/A  |  We have no applicable business activities.   \n14\\. Franchises  |  N/A  |  N/A  |  N/A  |  We do not have franchises.   \n15\\. Investments  |  N/A  |  N/A  |  N/A  |  We have no applicable business activities.   \nTotal  *3  |  9,850  |  9,157  |  33,494 \u2714  |   \n  \n  * *1 Green Value Chain Platform of Ministry of the Environment (Used Ver 2.6 for FY 2017 and FY 2018, and Ver 3.0 for FY 2019), etc. \n\n*2 Act on the Rational Use of Energy \n\n*3 As each category is rounded off to a whole number, the total of each category and the sum of categories 1 to 15 may not match. \n\n\u2714: Items covered by third-party assurance. In order to improve the reliability\nand transparency of CO  2  emissions data, Kobe Steel receives a third-party\nassurance.\n\n    * [ Third Party Assurance ](/english/sustainability/assurance.html)\n\n###  Estimated GHG Emissions (Kobe Steel, Ltd.) (Scope1)\n\nItem  |  FY 2017  |  FY 2018  |  FY 2019   \n---|---|---|---  \n1\\. Energy-derived CO  2  emissions  *1  |  17,700,000 t-CO  2  |  16,400,000 t-CO  2  |  15,600,000 t-CO  2   \n2\\. Non-energy derived CO  2  emissions  |  624,000 t-CO  2  |  565,000 t-CO  2  |  574,000 t-CO  2   \n3\\. Methane (CH  4  )  |  6,230 t-CO  2  |  5,750 t-CO  2  |  5,570 t-CO  2   \n4\\. Nitrous oxide (N  2O  )  |  43,700 t-CO  2  |  40,500 t-CO  2  |  43,600 t-CO  2   \n5\\. Hydrofluorocarbons (HFCs)  |  0 t-CO  2  |  0 t-CO  2  |  0 t-CO  2   \n6\\. Perfluorocarbons (PFCs)  |  0 t-CO  2  |  0 t-CO  2  |  0 t-CO  2   \n7\\. Sulfur hexafluoride (SF  6  )  |  12,900 t-CO  2  |  15,600 t-CO  2  |  16,900 t-CO  2   \n8\\. Nitrogen trifluoride (NF  3  )  |  0 t-CO  2  |  0 t-CO  2  |  0 t-CO  2    \n  \n  \n  * *1 Includes emissions of Group companies in and outside Japan \n\n##  Initiatives to Save Energy and Reduce CO  2  Emissions\n\nInitiatives to Save Energy and Reduce CO  2  Emissions in the Iron & Steel\nBusiness\n\n     The Iron & Steel Business have been pursuing various improvements to its facilities and operations in fiscal 2019.   \nWe will continue to implement energy conservation measures and reduce\nenvironmental impact, striving to achieve industry targets described in\nKeidanren (Japan Business Federation)\u2019s Commitment to a Low Carbon Society.\n\nInitiatives to Save Energy and Reduce CO  2  Emissions in the Welding Business\n\n     The Welding Business aims to thoroughly increase plant efficiency and reduce energy loss.   \nIn fiscal 2019, we introduced LED lighting and updated to more efficient\nelectric motors systematically at all locations.  \nWe will continue to pursue additional energy-saving measures and further\nreduce environmental impact in order to achieve a low-carbon society.\n\nInitiatives to Save Energy and Reduce CO  2  Emissions in the Aluminum &\nCopper Business\n\n     The Aluminum & Copper Business has been switching from oil-based fuels to natural gas, as well as striving for greater energy efficiency through improvements to productivity and introduction of highly efficiency equipment.   \nImprovements made in fiscal 2019 include improving insulation for the heating\nfurnace and introducing LED lighting and electric motor inverters.  \nWe will continue to implement energy conservation measures and reduce\nenvironmental impact, striving to achieve industry targets described in\nKeidanren (Japan Business Federation)'s Commitment to a Low Carbon Society.\n\nInitiatives to Save Energy and Reduce CO  2  Emissions in the Machinery\nBusiness\n\n     As demand for energy-saving compressors, heat pumps and other products increases, the Machinery Business is striving to improve energy efficiency through high-efficiency equipment and higher productivity.   \nWe will continue to implement energy conservation measures and reduce\nenvironmental impact, striving to achieve industry targets described in Nippon\nKeidanren(Japan Business Federation)'s Commitment to a Low Carbon Society.\n\n###  Examples of Energy-saving and CO  2  Emission Reduction Initiatives in\nthe KOBELCO Group (FY2019)\n\nProduction facility / company name  |  Location  |  Examples of initiatives   \n---|---|---  \nKakogawa Works, Kobe Steel, Ltd.  |  Kakogawa, Hyogo Prefecture  |  Improved output of the furnace top pressure recovery turbine (TRT) power generation facility   \nIntroduced latest-model, high-efficiency compressors  \nSwitched fuel  \nFujisawa Plant, Kobe Steel, Ltd.  |  Fujisawa, Kanagawa Prefecture  |  Switched fuel with boiler upgrade   \nUpgraded to invertor-controlled chillers  \nUpgraded the cooling tower to an inverter system  \nIbaraki Plant, Kobe Steel, Ltd.  |  Ibaraki, Osaka Prefecture  |  Upgraded the heating furnace   \nSwitched a portion of plant lighting to LED lighting  \nUpgraded chillers to latest models  \nUpgraded air conditioners to latest models  \nSaijo Plant, Kobe Steel, Ltd.  |  Higashihiroshima, Hiroshima Prefecture  |  Upgraded high voltage power receiving and substation facilities to latest models   \nSwitched a portion of plant lighting to LED lighting  \nFukuchiyama Plant, Kobe Steel, Ltd.  |  Fukuchiyama, Kyoto Prefecture  |  Switched a portion of plant lighting to LED lighting   \nMoka Works, Kobe Steel, Ltd.  |  Moka, Tochigi Prefecture  |  Improved insulation for the heating furnace   \nUpgraded compressors to latest models  \nSwitched a portion of plant lighting to LED lighting  \nChofu Works, Kobe Steel, Ltd.  |  Shimonoseki, Yamaguchi Prefecture  |  Upgraded combustion burners on the heating furnace   \nImproved insulation for the heating furnace  \nSwitched a portion of plant lighting to LED lighting  \nImproved insulation for heaters  \nDaian Works, Kobe Steel, Ltd.  |  Inabe, Mie Prefecture  |  Switched a portion of plant lighting to LED lighting   \nHarima Plant, Kobe Steel, Ltd.  |  Kakogun, Hyogo Prefecture  |  Switched mercury lamps and fluorescent lights at standard plant, office, and distribution center to LED lighting   \nUpgraded transformers to latest models  \nTakasago Works, Kobe Steel, Ltd.  |  Takasago, Hyogo Prefecture  |  Switched a portion of plant lighting to LED lighting   \nUpgraded boilers to latest models  \nUpgraded transformers to latest models  \nKobelco Engineered Construction Materials Co., Ltd.  |  Amagasaki, Hyogo Prefecture  |  Switched a portion of plant lighting to LED lighting   \nUpgraded boilers to latest models  \nAmagasaki Works, Shinko Wire Company, Ltd.  |  Amagasaki, Hyogo Prefecture  |  Switched a portion of plant lighting to LED lighting   \nUpgraded transformers to latest models  \nUpgraded air conditioners to latest models  \nOnoe Works, Shinko Wire Company, Ltd.  |  Kakogawa, Hyogo Prefecture  |  Switched a portion of plant lighting to LED lighting   \nShinko Wire Stainless Co., Ltd.  |  Izumisano, Osaka Prefecture  |  Switched a portion of plant lighting to LED lighting   \nShinko Bolt, Ltd.  |  Ichikawa, Chiba Prefecture  |  Switched a portion of plant lighting to LED lighting   \nToyama Works, Nippon Koshuha Steel Co., Ltd.  |  Imizu, Toyama Prefecture  |  Switched fuel and introduced regenerative burners for the heating furnace   \nKoshuha-Foundry Co., Ltd.  |  Hachinohe, Aomori Prefecture  |  Switched a portion of plant lighting to LED lighting   \nUpgraded transformers to latest models  \nShinko Leadmikk Co., Ltd.  |  Kitakyushu, Fukuoka Prefecture  |  Switched a portion of plant lighting to LED lighting   \nUpgraded air conditioners to latest models  \nKobelco & Materials Copper Tube, Ltd.  |  Hadano, Kanagawa Prefecture  |  Upgraded chillers to latest models   \nSwitched a portion of plant lighting to LED lighting  \nShinko Engineering Co., Ltd.  |  Ogaki Gifu Prefecture  |  Switched a portion of plant lighting to LED lighting   \nHiroshima Factory, Kobelco Construction Machinery Co., Ltd.  |  Hiroshima, Hiroshima Prefecture  |  Switched a portion of plant lighting to LED lighting   \nOgaki Factory, Kobelco Construction Machinery Co., Ltd.  |  Ogaki, Gifu Prefecture  |  Switched a portion of plant lighting to LED lighting   \nOkubo factory, Kobelco Construction Machinery Co., Ltd.  |  Akashi, Hyogo Prefecture  |  Switched a portion of plant lighting to LED lighting   \nHarima Plant, Kobelco Eco-Solutions Co., Ltd.  |  Harimacho, Hyogo Prefecture  |  Upgraded compressors to latest models   \nSwitched a portion of plant lighting to LED lighting  \nShinko Industrial Co., Ltd.  |  Kurayoshi, Tottori Prefecture  |  Switched a portion of plant lighting to LED lighting   \nSaved energy by adding a steam decompression valve  \nKobelco Power Kobe Inc.  |  Kobe, Hyogo Prefecture  |  Switched a portion of plant lighting to LED lighting   \nKobelco MIG Wire (Thailand) Co., Ltd.  |  Thailand  |  Optimized equipment motor capacity   \nThai Kobelco Welding Co., Ltd.  |  Thailand  |  Upgraded to invertor-controlled chillers   \nSwitched a portion of plant lighting to LED lighting  \nKobe Precision Technology Sdn. Bhd.  |  Malaysia  |  Upgraded compressors to latest models   \nSwitched a portion of plant lighting to LED lighting  \nKobe Aluminum Automotive Products, LLC  |  USA  |  Switched a portion of plant lighting to LED lighting   \nKobelco Aluminum Products & Extrusions Inc.  |  USA  |  Installed new invert-type high-efficiency compressors   \nKobelco Automotive Aluminum Rolled Products (China) Co., Ltd.  |  China  |  Switched a portion of plant lighting to LED lighting   \nKobelco & Materials Copper Tube (Thailand) Co., Ltd.  |  Thailand  |  Upgraded compressors to inverter types   \nSwitched a portion of plant lighting to LED lighting  \nUpgraded pumps to latest models  \nKobelco & Materials Copper Tube (M) Sdn. Bhd.  |  Malaysia  |  Upgraded the cooling tower\u2019s motor to the latest model   \nSwitched a portion of plant lighting to LED lighting  \nKobelco Construction Machinery (China) Co., Ltd.  |  China  |  Switched a portion of plant lighting to LED lighting   \nKobelco Construction Machinery Southeast Asia Co., Ltd.  |  Thailand  |  Upgraded some equipment to inverter types    \n  \n  \n##  Climate-related Organizations to Which We Belong\n\nIn December 2020, Kobe Steel announced that it supports the recommendations of\nthe Task Force on Climate-related Financial Disclosures (TCFD).\n\n  * [ Kobe Steel supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) (December 10, 2020 Notice) ](/english/notices/1206300_13389.html)\n\nAs a member of the Global CCS Institute and the Carbon Recycling Fund\nInstitute, we actively acquire the latest information on CCUS (Carbon dioxide\nCapture, Utilization and Storage) technology and work on technological\ndevelopment and research on CO  2  separation, capture, recycling and\nsequestration for future practical use.\n\n  * Global CCS Institute \n\nThe Global CCS Institute is an international think tank whose mission is to\naccelerate the deployment of carbon capture and storage (CCS), a vital\ntechnology to tackle climate change and deliver climate neutrality. The\ninstitute is headquartered in Melbourne, Australia, with offices in Tokyo,\nWashington DC, Brussels, Beijing and London.\n\n  * [ Global CCS Institute ](https://www.globalccsinstitute.com/)\n\n  * Carbon Recycling Fund Institute \n\nThe Carbon Recycling Fund Institute aims to address the global warming issue\nand improve the energy access throughout the world. The institute promotes\ninnovation in carbon recycling by public relations and sponsoring the research\nand development in the field.\n\n  * [ Carbon Recycling Fund Institute (Japanese only) ](https://carbon-recycling-fund.jp/)\n\nIn addition, each of the following industry groups to which the KOBELCO Group\nbelongs has formulated a Commitment to a Low Carbon Society. We will\ncontribute to the achievement of the targets set out in the Commitment to a\nLow Carbon Society of each industry group to which we belong by pursuing\nenergy savings and CO  2  reduction in production processes.\n\nIndustry groups  |  Industry targets for reducing CO  2  emissions from production processes in the Commitment to a Low Carbon Society   \n---|---  \nFY 2020 target  |  FY 2030 target   \nThe Japan Iron and Steel Federation  |  Eco Process: Reduction  *1  of over 3 million tons versus BAU  *2  |  Eco Process: Reduction of 9 million tons versus BAU   \nJapan Aluminium Association  |  Reduction of 1.0 GJ/t energy intensity per unit of rolled volume versus BAU in FY 2005  |  Reduction of 1.2 GJ/t energy intensity per unit of rolled volume versus BAU in FY 2005 (best effort target)   \nJapan Copper and Brass Association  |  Reduction of 4% energy intensity versus BAU with production activity volume of 380,000 tons  |  Reduction of 6% energy intensity versus BAU with production activity volume of 380,000 tons   \nThe Japan Society of Industrial Machinery Manufacturers  |  Average annual improvement of at least 1% energy consumption per unit (kL/\u00a5100 million)  |  Reduction of 10% in CO  2  emissions versus FY 2013   \nJapan Construction Equipment Manufacturers Association  |  Reduce the manufacturing energy consumption rate by 8% from the 5-year average of 2008 to 2012.  |  Reduce the manufacturing energy consumption rate by 17% from the actual achievement of 2013.   \n  \n  * *1 The Japan Iron and Steel Federation prioritizes 3 million tons of reduction arising from energy conservation and other voluntary actions by steelmakers. For waste plastics and other recycled materials, the emission reduction counts only a decrease resulting from the increase in the volume of these materials collected compared to FY2005. \n\n*2 BAU (Business As Usual): emissions of greenhouse gases, or emissions per unit, assuming no additional measures are taken \n\n##  Relationship with Industry Associations\n\nThe President and CEO of Kobe Steel has been appointed as vice chairman of the\nJapan Iron and Steel Federation, and Kobe Steel is actively and deeply\ninvolved in the activities of the industry organizations to which it belongs.\n\nKobe Steel\u2019s officers and employees have been appointed to various committees\nof industry associations related to climate change. They are actively involved\nin industry association activities such as setting goals, following-up the\nresults and summary, sharing information, and attending meetings organized by\nindustry organizations to exchange opinions with government officials.\n\nKobe Steel has taken the following steps to ensure consistency with the\npositions of industry associations. When business associations discuss matters\nrelated to public policy, relevant committees present draft proposals. As Kobe\nSteel\u2019s officers and employees are appointed as members of various committees\nrelated to climate change, they share the proceedings of these committees\nwithin the company to confirm whether they are in line with Kobe Steel\u2019s\nposition and policy. If there are any inconsistencies, they make adjustments\nthrough the committees. We also constantly exchange information with industry\ngroups on Kobe Steel\u2019s climate change strategies and targets in order to\nensure consistency with their positions and targets. Through this process, we\nensure Kobe Steel\u2019s climate change strategy is aligned with the efforts of\nindustry associations.\n\n  * [ Share with Facebook  ](http://www.facebook.com/share.php?u=https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html \"Share on Facebook\")\n  * [ Share on Linkedin  ](http://www.linkedin.com/shareArticle?mini=true&url=https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html&title=Initiatives to Reduce Energy and CO<sub>2</sub> Emissions \"Share on LinkedIn\")\n  * [ Share with Twitter  ](https://twitter.com/share?text=%e7%a5%9e%e6%88%b8%e8%a3%bd%e9%8b%bc%e6%89%80%e3%80%80%e3%83%97%e3%83%ac%e3%82%b9%e3%83%aa%e3%83%aa%e3%83%bc%e3%82%b9%20%23KobelcoOfficial&url=https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html \"Tweet\")\n  * [ Send an Email  ](mailto:?body=https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html)\n  * [ Print  ](javascript:void\\(0\\);)\n\nPage top\n\n  * [ About Us ](/english/about_kobelco/)\n  * [ Products ](/english/products/)\n  * [ Investor Relations ](/english/ir/)\n  * [ Locations ](/english/about_kobelco/kobesteel/locations/index.html)\n\n[ Site Map ](/english/sitemap/) \u00e3\u0080\u0080|\u00e3\u0080\u0080 [ Handling of Privacy & Personal\nInformation ](/english/privacy/) \u00e3\u0080\u0080|\u00e3\u0080\u0080 [ About the website\n](/english/copyright/) \u00a9 KOBE STEEL, LTD. 1995-2025\n\n",
                "url": "https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html"
            },
            "reason": "This is part of Kobelco's integrated report, focusing on production. As a direct publication from the company, it's considered a reliable source of information regarding their environmental impact related to production.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' environmental impact carbon footprint",
            "summary": "Part of Kobelco's integrated report, focusing on production.",
            "url": "https://www.kobelco.co.jp/english/about_kobelco/outline/integrated-reports/subordinate2020/production.html"
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                    "source": "https://www.asahi-kasei.com/sustainability/basic_information/sasb/"
                },
                "page_content": "[ TOP ](/) [ Sustainability ](/sustainability/) [ Basic Information on Our\nSustainability Website ](/sustainability/basic_information/) **SASB Content\nIndex**\n\n#  SASB Content Index\n\nThis is an index of disclosed information in accordance with the ESG\ninformation disclosure framework \u201cSASB Standards\u201d issued by the U.S.\nSustainability Accounting Standards Board (SASB).  \n(The table below refers to the criteria for the Chemicals industry in the\nResource Transformation sector, and shows the location of the relevant\ninformation.)\n\nTopic  |  Accounting Metric  |  Unit of Measure  |  Code  |  Disclosure and Website Link   \n---|---|---|---|---  \nGreenhouse  \nGas Emissions  |  Gross global Scope 1 emissions, percentage covered under emissions-limiting regulations  |  Metric tons (t)   \nCO  2  -e,  \nPercentage (%)  |  RT-CH-110a.1  | \n\n  * [ Climate Change > Reducing GHG Emissions > Scope 1 and 2 GHG emissions (Japan and Overseas) ](/sustainability/environment/climate_change/#anc-05)\n  * [ ESG Data (Environment) ](/sustainability/esg_data/)\n\n  \nDiscussion of long and short-term strategy or plan to manage Scope 1 emissions, emissions reduction targets, and an analysis of performance against those targets  |  n/a  |  RT-CH-110a.2  | \n\n  * [ Climate Change > Asahi Kasei Group's Carbon Neutrality Policy ](/sustainability/environment/climate_change/#anc-01)\n\n  \nAir Quality  |  Air emissions of the following pollutants: (1) NO  x  (excluding N  2  O), (2) SO  x  , (3) volatile organic compounds (VOCs), and (4) hazardous air pollutants (HAPs)  |  Metric tons (t)  |  RT-CH-120a.1  | \n\n  * [ (1), (2) Pollution Prevention and Resource Circulation > Air pollution, ](/sustainability/environment/resources/#anc-05) [ Environmental Management, ](/sustainability/environment/management/) [ ESG Data (Environment) ](/sustainability/esg_data/)\n  * [ (3) Pollution Prevention and Resource Circulation > Reducing emissions of chemical substances, ](/sustainability/environment/resources/#anc-04) [ Environmental Management, ](/sustainability/environment/management/) [ ESG Data (Environment) ](/sustainability/esg_data/)\n  * [ (4) ESG Data (Environment) ](/sustainability/esg_data/#anc-23)\n\n  \nEnergy Management  |  (1) Total energy consumed, (2) percentage grid electricity, (3) percentage renewable and (4) total self-generated energy  |  Gigajoules (GJ),   \nPercentage (%)  |  RT-CH-130a.1  | \n\n  * [ (1) Environmental Management ](/sustainability/environment/management/)   \n(2) -\n\n  * [ (3)Climate Change > Efforts to Reduce CO  2  Emissions > Renewable energy ](/sustainability/environment/climate_change/#anc-07)   \n(4) -\n\n  \nWater Management  |  (1) Total water withdrawn, (2) total water consumed, percentage of each in regions with high or extremely high baseline water stress  |  Thousand cubic   \nmeters (m  3  ),  \nPercentage (%)  |  RT-CH-140a.1  | \n\n[ (1) Water Resource Preservation > Reducing water use,\n](/sustainability/environment/water_use/#anc-02) [ ESG Data (Environment)\n](/sustainability/esg_data/)  \n(2) -\n\n  \nNumber of incidents of non-compliance associated with water quality permits, standards, and regulations  |  Number  |  RT-CH-140a.2  | \n\n  * [ Water Resource Preservation > Prevention of water pollution ](/sustainability/environment/water_use/#anc-03)\n\n  \nDescription of water management risks and discussion of strategies and practices to mitigate those risks  |  n/a  |  RT-CH-140a.3  |  \\-   \nHazardous Waste Management  |  Amount of hazardous waste generated, percentage recycled  |  Metric tons (t),   \nPercentage (%)  |  RT-CH-150a.1  | \n\n  * [ Pollution Prevention and Resource Circulation > Reduction of Industrial Waste and Promotion of Recycling ](/sustainability/environment/resources/#anc-02)\n\n  \nCommunity Relations  |  Discussion of engagement processes to manage risks and opportunities associated with community interests  |  n/a  |  RT-CH-210a.1  | \n\n  * [ Social Activities > Local communities > Dialog and interaction ](/sustainability/social/community/#anc-04)\n\n  \nWorkforce Health & Safety  |  (1) Total recordable incident rate (TRIR) and (2) fatality rate for (a) direct employees and (b) contract employees  |  Rate  |  RT-CH-320a.1  | \n\n  * [ Health & Productivity Management and Occupational Health & Safety > Occupational Health and Safety > Workplace Accidents ](/sustainability/social/workplace/#anc-06)\n\n  \nDescription of efforts to assess, monitor, and reduce exposure of employees and contract workers to long-term (chronic) health risks  |  n/a  |  RT-CH-320a.2  | \n\n  * [ Health & Productivity Management and Occupational Health & Safety > Health & Productivity Management > Health Management Goals ](/sustainability/social/workplace/?target=anc-14#tab-02)\n\n  \nProduct Design for Use phase Efficiency  |  Revenue from products designed for use-phase resource efficiency  |  Reporting currency  |  RT-CH-410a.1  |  \\-   \nSafety & Environmental  \nStewardship of Chemicals  |  (1) Percentage of products that contain Globally Harmonized System of Classification and Labeling of Chemicals (GHS) Category 1 and 2 Health and Environmental Hazardous Substances, (2) percentage of such products that have undergone a hazard assessment  |  Percentage (%) by revenue, Percentage (%)  |  RT-CH-410b.1  | \n\n  * (1) [ Quality Assurance ](/sustainability/social/quality/)   \n(2) -\n\n  \nDiscussion of strategy to (1) manage chemicals of concern and (2) develop alternatives with reduced human and/or environmental impact  |  n/a  |  RT-CH-410b.2  | \n\n  * [ Quality Assurance > Product safety initiatives, ](/sustainability/social/quality/#anc-03) [ Chemical substance management ](/sustainability/social/quality/#anc-04)\n  * [ Pollution Prevention and Resource Circulation > Reducing emissions of chemical substances ](/sustainability/environment/resources/#anc-04)\n\n  \nGenetically Modified  \nOrganisms  |  Percentage of products by revenue that contain genetically modified organisms (GMOs)  |  Percentage (%) by revenue  |  RT-CH-410c.1  |  \\-   \nManagement of the Legal & Regulatory Environment  |  Discussion of corporate positions related to government regulations and/or policy proposals that address environmental and social factors affecting the industry  |  n/a  |  RT-CH-530a.1  | \n\n  * [ Environmental Management > Policy ](/sustainability/environment/management/#anc-01)\n  * [ Climate Change > Asahi Kasei Group's Carbon Neutrality Policy ](/sustainability/environment/climate_change/#anc-01)\n\n  \nOperational Safety, Emergency Preparedness & Response  |  Process Safety Incidents Count (PSIC), Process Safety Total Incident Rate (PSTIR), and Process Safety Incident Severity Rate (PSISR)  |  Number, Rate  |  RT-CH-540a.1  | \n\n  * [ Process Safety > Process safety management ](/sustainability/social/safety/#anc-03)\n\n  \nNumber of transport incidents  |  Number  |  RT-CH-540a.2  | \n\n  * [ Process Safety > Transportation and Distribution Safety ](/sustainability/social/safety/#anc-08)\n\n  \n  \nPage top\n\n[ ](/)\n\n  * [ Terms and Conditions ](/legal/)\n  * [ Data Protection ](/privacy/)\n  * [ Site Map ](/sitemap/)\n\n  * [ ](https://www.youtube.com/c/AsahiKaseiOfficial)\n  * [ ](https://www.linkedin.com/company/asahi-kasei/)\n\nCopyright \u00a9 Asahi Kasei Corporation. All rights reserved.\n\n",
                "url": "https://www.asahi-kasei.com/sustainability/basic_information/sasb/"
            },
            "reason": "This page from Asahi Kasei details their sustainability efforts according to SASB standards. As a direct publication from the company adhering to a recognized reporting framework, it's considered a reliable source.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' environmental impact carbon footprint",
            "summary": "A page from Asahi Kasei detailing their sustainability efforts according to SASB standards.",
            "url": "https://www.asahi-kasei.com/sustainability/basic_information/sasb/"
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                    "source": "https://www.resourcepanel.org/reports/resource-efficiency-and-climate-change"
                },
                "page_content": "Skip to main content\n\n#  Resource Efficiency and Climate Change\n\nMaterial Efficiency Strategies for a Low-Carbon Future\n\nReport  Videos  Infographics  Resources  Key facts  See also\n\nThis report conducts a rigorous assessment of the contribution of material\nefficiency to GHG abatement strategies. More concretely, it assesses the\nreduction potential of GHG emissions from material efficiency strategies\napplied in residential buildings and light duty vehicles, and reviews policies\nthat address these strategies. It shows that increasing material efficiency is\na key opportunity to achieve the aspirations of the Paris Agreement.\n\n[ # Resource Efficiency ](/reports?field_themes_tid%5B329%5D=329)\n\n[ # Life Cycle Analysis ](/reports?field_themes_tid%5B322%5D=322)\n\n[ # Climate Change ](/reports?field_themes_tid%5B346%5D=346)\n\n##  The report\n\nShare this page\n\n  * Share on Facebook \n  * Share on LinkedIn \n  * Share on Twitter \n  * Share on Weibo \n  * [ Share by Email ](/cdn-cgi/l/email-protection#37084442555d5254430a62595247115558534e0a5f434347440d1818404040194552445842455452475659525b1958455018455247584543441845524458424554521a5251515e545e5259544e1a5659531a545b5e5a5643521a545f56595052)\n\n######  [ ](/file/1966/download?token=dNgPqfZE)\n\n[ **\u200bRESOURCE EFFICIENCY AND CLIMATE CHANGE Material Efficiency Strategies for\na Low-Carbon Future** ](/file/1966/download?token=dNgPqfZE)\n\n**A report of the International Resource Panel published in 2020.**\n\n######  Download the Full Report: [ EN ](/file/1966/download?token=dNgPqfZE)\n\n######  Download the Appendixes: [ Model description ](/file/1973/download?token=FssD9tmp) | [ Information on policies ](/file/1970/download?token=0BIGIAky)\n\n######  Download the Summary for Policymakers: [ EN ](/file/1417/download?token=PYLVVusr) | [ AR ](/file/1931/download?token=Bg4rdNzB) | [ CN ](/file/1779/download?token=oej8GDk2) | [ FR ](/file/1832/download?token=KSHKZ46O) | [ JP ](/file/2124/download?token=tH4THpxq) | [ RU ](/file/1499/download?token=NJu7yLmX) | [ SP ](/file/1848/download?token=V4UEjLA9)\n\n######  Download the Factsheet: [ EN ](/file/1418/download?token=bwLKUzar) | [ AR ](/file/1420/download?token=Lqf6ABJN) | [ CH ](/file/1425/download?token=yQpBncWj) | [ FR ](/file/1423/download?token=lSGei8UD) | [ JP ](/file/1770/download?token=IM_Dh1X2) | [ RU ](/file/1422/download?token=byFkXSOX) | [ SP ](/file/1419/download?token=sF3Z8wcQ)\n\n######  Download the Implications for Business Leaders: [ EN\n](/file/2091/download?token=SgwAKOEH)\n\n* * *\n\nThis report was developed by the IRP in response to a request by leaders of\nthe Group of 7 nations in the context of efforts to promote resource\nefficiency as a core element of sustainable development. It conducts a\nrigorous assessment of the contribution of material efficiency to GHG\nabatement strategies. More concretely, it assesses the reduction potential of\nGHG emissions from material efficiency strategies applied in residential\nbuildings and light duty vehicles, and reviews policies that address these\nstrategies.\n\nAccording to the Panel, GHG emissions from the material cycle of residential\nbuildings in the G7 and China could be reduced by at least 80% in 2050 through\nmore intensive use of homes, design with less materials, improved recycling of\nconstruction materials, and other strategies.\n\nSignificant reductions of GHG emissions could also be achieved in the\nproduction, use and disposal of cars. IRP modelling shows that GHG emissions\nfrom the material cycle of passenger cars in 2050 could be reduced by up to\n70% in G7 countries and 60% in China and India through ride-sharing, car-\nsharing, and a shift towards trip-appropriate smaller cars, among others.\n\nIncreasing material efficiency is a key opportunity to achieve the aspirations\nof the Paris Agreement. Materials are vital to modern society, but their\nproduction is an important source of greenhouse gases. Emissions from material\nproduction are now comparable to those from agriculture, forestry, and land\nuse change combined, yet they have received much less attention from the\nclimate policy community. As shown by IRP estimates, it is time to look beyond\nenergy efficiency to reduce global carbon footprint.\n\n**Recommended citation:** IRP (2020). Resource Efficiency and Climate Change:\nMaterial Efficiency Strategies for a Low-Carbon Future. Hertwich, E., Lifset,\nR., Pauliuk, S., Heeren, N. A report of the International Resource Panel.\nUnited Nations Environment Programme, Nairobi, Kenya.\n\n* * *\n\n######  Report launch webinar\n\n######  Presentation slides ( [ **Download the full presentation deck**\n](/sites/default/files/documents/document/media/resource_efficiency_and_climate_change_presentation_slides_main_report_implications_for_business_leaders_0.pdf)\n)  \n\n##  **Videos**\n\n[ ](https://www.youtube.com/embed/qQAX21c3tGs)\n\n[ ](https://www.youtube.com/embed/llzFoPEXIyc)\n\n[ ](https://www.youtube.com/embed/pc4CxXjLTbA)\n\n[ ](https://www.youtube.com/embed/LQ8Gv0YF2LI)\n\n##  **Infographics**\n\n[ ](/sites/default/files/images/reports/resources-\ninfographics/recc_infographics_v2.png)\n\n##  **Additional resources**\n\n[ Resource Efficiency and Climate Change Errata Note  1 page  |  pdf, 76.72 KB  ](/file/2231/download?node=867)\n\n[ Resource Efficiency and Climate Change full report  173 pages  |  pdf, 6.77 MB  ](/file/1966/download?node=867)\n\nDid you know?\n\nEmissions from the production of materials as a share of global GHGs increased\nfrom 15% in 1995 to 23% in 2015.\n\nShare this page\n\n  * Share on Facebook \n  * Share on LinkedIn \n  * Share on Twitter \n  * Share on Weibo \n  * [ Share by Email ](/cdn-cgi/l/email-protection#5c632f293e36393f28610932392c7a3e333825613428282c2f6673732b2b2b722e392f33292e3f392c3d32393072332e3b732e392c332e282f732e392f33292e3f3971393a3a353f3539323f25713d3238713f3035313d2839713f343d323b39)\n\nDid you know?\n\nMaterial efficiency strategies can reduce emissions from materials and\noperational energy in housing by 40% in 2050 in G7 countries and up to 70% in\nIndia and China.\n\nShare this page\n\n  * Share on Facebook \n  * Share on LinkedIn \n  * Share on Twitter \n  * Share on Weibo \n  * [ Share by Email ](/cdn-cgi/l/email-protection#a39cd0d6c1c9c6c0d79ef6cdc6d385c1ccc7da9ecbd7d7d3d0998c8cd4d4d48dd1c6d0ccd6d1c0c6d3c2cdc6cf8dccd1c48cd1c6d3ccd1d7d08cd1c6d0ccd6d1c0c68ec6c5c5cac0cac6cdc0da8ec2cdc78ec0cfcacec2d7c68ec0cbc2cdc4c6)\n\nDid you know?\n\nMaterial efficiency strategies can reduce emissions from materials and\noperational energy in cars by 30-40% in 2050 in G7 countries, India and China.\n\nShare this page\n\n  * Share on Facebook \n  * Share on LinkedIn \n  * Share on Twitter \n  * Share on Weibo \n  * [ Share by Email ](/cdn-cgi/l/email-protection#c9f6babcaba3acaabdf49ca7acb9efaba6adb0f4a1bdbdb9baf3e6e6bebebee7bbacbaa6bcbbaaacb9a8a7aca5e7a6bbaee6bbacb9a6bbbdbae6bbacbaa6bcbbaaace4acafafa0aaa0aca7aab0e4a8a7ade4aaa5a0a4a8bdace4aaa1a8a7aeac)\n\n##  **News**\n\n[ Resource Efficiency and Climate Change Full Report Launch at UNFCCC Race to\nZero Dialogues  13 November 2020  Emissions from the production of materials\nlike metals, minerals, woods and plastics more than doubled in 1995 - 2015,\naccounting for almost 25% of all greenhouse gas (GHG) emissions worldwide.\nThis is equivalent to the total GHG emissions from agriculture, forestry, and\nland use change combined. Yet, material efficiency receives far less attention\nin climate discussions. The International Resource Panel (IRP) Report,\nResource Efficiency and Climate Change: Material Efficiency Strategies for a\nLow-Carbon Future \u2013 to be released on 18 November 2020 at the Race to Zero\nevent - is the first comprehensive scientific analysis of potential GHG\nemission savings from material efficiency. For this, it zooms into two carbon-\nintensive sectors: residential buildings and passenger vehicles. 80% of\nemissions from the production of materials are linked to the construction and\nmanufacturing sectors, in particularly our homes and cars. Applying material\nefficiency strategies can reduce GHG emissions from the life-cycle of\nconstruction, operation, and deconstruction of homes by an average of 40% in\nseven major developed countries - Canada, France, Germany, Italy, Japan, the\nUnited Kingdom and the United States (G7 countries) and by 70% in China and\nIndia. It can also reduce GHG emissions from the manufacturing, operations and\nend-of-life  ](/news-events/resource-efficiency-and-climate-change-full-\nreport-launch-unfccc-race-zero-dialogues)\n\n[ IRP presents new work on resource efficiency and climate change at the COP25\nin Madrid  12 December 2019  This week, the International Resource Panel (IRP)\npresented new work on the connections between resources and climate at the\nCOP25 in Madrid. The IRP Summary for Policymakers \u201c Resource Efficiency and\nClimate Change: Material Efficiency Strategies for a Low-Carbon Future\u201d was\nofficially launched on 11 December 2019 at an event hosted by the Ministry for\nthe Environment, Land and Sea Protection of Italy. Co-chair Izabella Teixeira\nand lead author Edgar Hertwich presented the results of this work at five side\nevents. These included the Low Emissions Solutions Conference Dinner; a high-\nlevel side-event of the Emissions Gap Report hosted by UNEP and UNFCCC; a side\nevent on scaling-up climate action through the circular economy and nature-\nbased solutions hosted by the European Commission; the official launch event;\nand a side event on enhancing resource efficiency and reducing material\nfootprint to meet climate commitments, hosted by the One Planet Network, IRP\nand UNFCCC. Key messages were well received by multiple stakeholders,\nincluding the First Vice-President of European Commission, Ministers of\nEnvironment from Chile, Finland, Italy, and Norway, among others. At the event\nentitled \u201cEnhancing resource efficiency and reducing material footprint to\nmeet climate commitments\u201d Inger Andersen, Executive Director of UNEP and Achim\nSteiner  ](/news-events/irp-presents-new-work-resource-efficiency-and-climate-\nchange-cop25-madrid)\n\n[ See all events ](/news-events)\n\n##  **Events**\n\n[ 18  Nov  2020  Report launch  Resource Efficiency and Climate Change Full\nReport Launch  ](/news-events/resource-efficiency-and-climate-change-full-\nreport-launch)\n\n[ See all events ](/news-events)\n\n##  Related **content**\n\n[ Related journal articles  Journal of Industrial Ecology - Special Issue:\nMaterial Efficiency for Climate Change Mitigation\n](https://onlinelibrary.wiley.com/toc/15309290/2021/25/2)\n\n[ Related online magazine article  World Circular Economy Forum Plus Climate\ne-Magazine: The benefits of a circular economy for effective climate action\nand society (A joint article from the IRP and SYSTEMIQ)\n](https://www.wcefplusclimate.com/emagazine/dive-deeper/benefits)\n\n##  **Other reports**\n\n[ Financing the responsible supply of energy transition minerals for\nSustainable Development  The finance sector can play a critical role in\npromoting responsible mining, particularly in the context of the rising demand\nfor energy transition minerals such as lithium, cobalt, and rare earth\nelements. These minerals are essential for the global shift to sustainable\nenergy systems, and the massive investments required, from exploration and\nextraction to processing and refining, present a unique opportunity to drive\ntransformative change.  ](/reports/financing-responsible-supply-energy-\ntransition-minerals-sustainable-development)\n\n[ Intentionally Designing Sustainable Consumption and Production Policies and\nPractices to Reduce Inequalities  This think piece identifies certain issues\nthat are often \u201cinconvenient\u201d to discuss. It suggests several transformations\nto how we produce and consume natural resources that the international\ncommunity must make to address inequalities.  ](/reports/intentionally-\ndesigning-SCP)\n\n[ Global Resources Outlook 2024  IRP\u2019s flagship report \u2013 The Global Resources\nOutlook 2024 \u2013 is out now! The pathway towards sustainability is increasingly\nsteep and narrow, and the window of opportunity is closing. The science is\nclear: The key question is no longer whether a transformation towards global\nsustainable resource consumption and production is necessary, but how to make\nit happen now. Addressing this reality, based on evolving concepts of a just\ntransition, is an essential part of any credible and justifiable way forward.\n](/reports/global-resources-outlook-2024)\n\n[ Resource Efficiency and Climate Change: Material Efficiency Strategies for a\nLow-Carbon Future (RECC)  In its global report \u201cResource Efficiency and\nClimate Change: Material Efficiency Strategies for a Low-Carbon Future (RECC)\u201d\nthe IRP conducted a rigorous assessment of the contribution of material\nefficiency to Greenhouse Gas (GHG) abatement strategies.\n](/reports/technical-guidelines-resource-efficiency-andclimate-change-\nconstruction-sector)\n\n[ Upcoming Work  Learn more about what the International Resource Panel is\ncurrently working on.  ](/reports/upcoming-work)\n\n[ Enabling the energy transition  IRP Co-Chairs Janez Poto\u010dnik and Izabella\nTeixeira give their perspectives on achieving decoupling while enabling the\nenergy transition.  ](/reports/enabling-energy-transition)\n\n[ Trends and Outlook of Natural Resource Use in West Asia  This report aims to\nprovide policy makers in West Asia with insights on the trends and outlook for\nnatural resource use and environmental impacts in the region. The report marks\nthe first attempt of translating at regional level the methodology underlying\nthe \u2018Global Resources Outlook 2019\u2019 (GRO 2019), to amplify the regional\nperspectives from the insights of the global projections.  ](/reports/trends-\nand-outlook-natural-resource-use-west-asia)\n\n[ Human Migration and Natural Resources  The science is crystal clear that\nhumanity currently faces triple planetary crises: climate change, pollution,\nand biodiversity loss. One of the main issues of concern in relation to\nresponses to these planetary crises is understanding how society will respond\nand change. The management of human mobility in the context of changes in\nnatural resources is critical.  ](/reports/human-migration-and-natural-\nresources)\n\n[ Opinion Piece: We Need a Global Discussion on Natural Resource Management\nIn August 2022, the IRP submitted a Co-Chair Think Piece \u2018We Need A Global\nDiscussion On Natural Resource Management\u2019 to the United Nations Secretary\nGeneral established High-Level Advisory Board on Effective Multilateralism\npublic consultation.  ](/reports/opinion-piece-we-need-global-discussion-\nnatural-resource-management)\n\n[ Making Climate Targets Achievable  To the world\u2019s efforts to address climate\nchange, IRP Co-Chairs Janez Poto\u010dnik and Izabella Teixeira add an\nindispensable missing piece: resource efficiency strategies to reduce and\nimprove the use of natural resources.  ](/reports/making-climate-targets-\nachievable)\n\n[ Urban Agriculture\u2019s Potential to Advance Multiple Sustainability Goals  This\nThink Piece evaluates to what extent, and in which conditions, urban\nagriculture can enhance the sustainability of urban-rural food systems and\npromote a circular economy in cities.  ](/reports/urban-agricultures-\npotential-advance-multiple-sustainability-goals)\n\n[ Policy Options to Eliminate Additional Marine Plastic Litter  The think\npiece provides policy options to reduce marine plastic litter and achieve the\nOsaka Blue Ocean Vision, which voluntarily commits G20 countries to \u201creduce\nadditional pollution by marine plastic litter to zero by 2050 through a\ncomprehensive life-cycle approach\u201d.  ](/reports/policy-options-eliminate-\nadditional-marine-plastic-litter)\n\n[ A Global Manual on Economy Wide Material Flow Accounting  This Manual builds\nupon the existing experiences of compiling economy-wide material flow accounts\nin Europe and provides global guidance on compile material flow accounts which\ncan be used by national statistical systems around the world.\n](/reports/global-manual-economy-wide-material-flow-accounting)\n\n[ Governing Coastal Resources  The report draws together an evidence base that\ndemonstrates beyond question the need for enhanced governance coordination\nbetween terrestrial activities and marine resources.  ](/reports/governing-\ncoastal-resources)\n\n[ Building Biodiversity  To the world\u2019s efforts to restore and regenerate\nnature, IRP Co-Chairs Janez Poto\u010dnik and Izabella Teixeira add the single-\nbiggest missing piece: natural resource management.  ](/reports/building-\nbiodiversity)\n\n[ Catalysing Science-Based Policy Action on Sustainable Consumption and\nProduction  This report from the International Resource Panel and the One\nPlanet network explains the \u2018Value-Chain Approach\u2019 methodology and shares\nfindings from its application to three critical sectors: food, construction\nand textiles.  ](/reports/catalysing-science-based-policy-action-sustainable-\nconsumption-and-production)\n\n[ Sustainable Trade in Resources  This report looks at trade flows of material\nresources and their environmental impacts. It also demonstrates how both\nmultilateral trade rules and regional trade agreements can be used proactively\nto advance the circular and greener economy and minimize the environmental\nimpacts associated with resource extraction.  ](/reports/sustainable-trade-\nresources)\n\n[ Building Resilient Societies after the Covid-19 Pandemic  This document\nprovides policy recommendations extracted from IRP research over the past 10\nyears to drive a resource smart recovery from the COVID-19 pandemic,\ngenerating socio-economic value while safeguarding the environment.\n](/reports/building-resilient-societies-after-covid-19-pandemic)\n\n[ Natural Resource Use in the Group of 20: Status, trends, and solutions\nDissemination materials from the International Resource Panel\n](/reports/natural-resource-use-group-20)\n\n[ Land Restoration for Achieving the Sustainable Development Goals  Land\nrestoration has tremendous potential to help the world limit climate change\nand achieve its aims for sustainable development. In its latest study, the\nInternational Resource Panel finds positive spin-offs to support all 17\nSustainable Development Goals agreed to by the world\u2019s nations as part of the\n2030 Agenda for Sustainable Development.  ](/reports/land-restoration-\nachieving-sustainable-development-goals)\n\n[ Global Resources Outlook 2019  Through a combination of resource efficiency,\nclimate mitigation, carbon removal, and biodiversity protection policies, this\nreport finds that it is feasible and possible to grow economies, increase\nwell-being and remain within planetary boundaries.  ](/reports/global-\nresources-outlook-2019)\n\n[ Mineral Resource Governance in the 21st Century  The mining sector, if\ncarefully managed, presents enormous opportunities for advancing sustainable\ndevelopment particularly in low-income countries, the International Resource\nPanel says in its latest report. The full report, Summary for Policymakers,\nand factsheets are now available for download.  ](/reports/mineral-resource-\ngovernance-21st-century)\n\n[ Re-defining Value \u2013 The Manufacturing Revolution  Re-thinking how we\nmanufacture industrial products and deal with them at the end of their useful\nlife could provide breakthrough environmental, social and economic benefits.\nAdopting value-retention processes is a win-win situation for governments,\nindustry and customers. Governments would have less waste to deal with,\ngenerate green jobs, and stimulate economic growth; industry could lower\nproduction costs, avoid resource constraints on business growth, and open new\nmarkets; and customers could benefit from lower prices for refurbished\nproducts.  ](/reports/re-defining-value-manufacturing-revolution)\n\n[ Resource Efficiency for Sustainable Development  A think piece from the\nInternational Resource Panel.  ](/reports/resource-efficiency-sustainable-\ndevelopment)\n\n[ The Weight of Cities  We have a once-in-a-lifetime opportunity to shift\nfuture urbanization on to a more environmentally sustainable and socially just\npath. The Weight of Cities suggests a new approach to focus on low-carbon,\nresource-efficient, inclusive cities.  ](/reports/weight-cities)\n\n[ Assessing Global Resource Use  Better and more efficient production and use\nof natural resources can be one of the most cost-efficient and effective ways\nto reduce impacts on the environment (including pollution) and advance human\nwell-being.  ](/reports/assessing-global-resource-use)\n\n[ Green Technology Choices  What happens when low-carbon electricity supply\ntechnologies are deployed alongside energy efficiency technologies? The\nInternational Resource Panel's assessment looks at the impacts and benefits\nfor people and the environment.  ](/reports/green-technology-choices)\n\n[ Resource Efficiency  This report analyzes four paths that countries could\ntake over the next three decades, ranging from business as usual to a scenario\nwhere countries adopt both ambitious climate policies and improve resource\nefficiency. It finds that smarter use of resources can add $2 trillion\nannually to the global economy.  ](/reports/resource-efficiency)\n\n[ Global Material Flows and Resource Productivity (with database link)\nGrowing concern about assuring affordable, equitable and environmentally\nsustainable access to natural resources is well founded. In this report we\nshow global natural resource use trends and propose indicators for evidence-\nbased policy formulation.  ](/reports/global-material-flows-and-resource-\nproductivity-database-link)\n\n[ Unlocking the Sustainable Potential of Land Resources:  Land resources are\none of nature\u2019s most precious gifts. They feed us and help our societies and\neconomies to thrive. This report examines how to better evaluate and use the\npotential of land on the way to achieving land degradation neutrality.\n](/reports/unlocking-sustainable-potential-land-resources)\n\n[ Decoupling 2  This report explores technological possibilities and\nopportunities for both developing and developed countries to accelerate\ndecoupling and reap the environmental and economic benefits of increased\nresource productivity.  ](/reports/decoupling-2)\n\n[ Food Systems and Natural Resources  Food systems depend on natural\nresources. But population growth, and dietary changes due to growing wealth,\nare creating pressures on those resources. Transforming our food systems is\nrequired if we are to meet future demands.  ](/reports/food-systems-and-\nnatural-resources)\n\n[ Options for Decoupling Economic Growth from Water Use and Water Pollution\nTo head off a looming water crisis, meet demand, and sustain growth and human\nwellbeing, decoupling water from economic growth is essential. The report\nshows a package of policy and practical responses to aid aspirations for water\nsustainability.  ](/reports/options-decoupling-economic-growth-water-use-and-\nwater-pollution)\n\n[ 10 Key Messages on Climate Change  This note draws on the findings of the\nUnited Nations\u2019 expert panel on natural resources \u2013 the International Resource\nPanel (IRP) \u2013 to highlight some key policy-relevant messages on how\nsustainable management of natural resources can contribute to global efforts\nto combat climate change.  ](/reports/10-key-messages-climate-change)\n\n[ Green Energy Choices: the Benefits, Risks and Trade-Offs of Low-Carbon\nTechnologies for Electricity Production  Low-carbon electricity generation\ncould help meet demand while reducing climate change effects. But new\ntechnologies could create new environmental problems. This report aids\ninformed decision-making about energy technologies, infrastructure and optimal\nmix.  ](/reports/green-energy-choices-benefits-risks-and-trade-offs-low-\ncarbon-technologies-electricity)\n\n[ International Trade in Resources  International trade is indispensable for\ncountries to meet demand for resources not available, accessible or affordable\ndomestically. This report looks at implications of rapidly rising trade flows\nfor global resource and environmental efficiency.  ](/reports/international-\ntrade-resources)\n\n[ Policy Coherence of the Sustainable Development Goals  This paper highlights\nthe impact that pressures on the limited resource base may have on\ncomprehensively fulfilling the aspirational and ambitious SDGs. It brings\nforth the need for an understanding of the nexus between components of the\nnatural resource system and the natural and socio-economic ecosystems to\nidentify the environment-development trade-offs envisaged in the\nimplementation of the post-2015 global sustainable development agenda.\n](/reports/policy-coherence-sustainable-development-goals)\n\n[ Building Natural Capital: How REDD+ Can Support a Green Economy  This\nreport, on the status and future potential of REDD+, describes the benefits of\nforests and other ecosystems as a way of demonstrating that forests have\nmultiple values beyond carbon sequestration and are a foundation for\nsustainable societies.  ](/reports/building-natural-capital-how-redd-can-\nsupport-green-economy)\n\n[ Managing and Conserving the Natural Resource Base for Sustained Economic and\nSocial Development  This think piece presents the International Resource\nPanel's reflection on the establishment of Sustainable Development Goals aimed\nat decoupling economic growth from escalating resource use and environmental\ndegradation.  ](/reports/managing-and-conserving-natural-resource-base-\nsustained-economic-and-social-development)\n\n[ Assessing Global Land Use  This report examines the impacts of global trends\n- population growth, urbanization, changes in diets and consumption behaviours\n- on global land use, considering biodiversity, the supply of food, fibre and\nfuel, and resource security.  ](/reports/assessing-global-land-use)\n\n[ Environmental Risks and Challenges of Anthropogenic Metals Flows and Cycles\nMetal production is responsible for 7-8% of global energy use as well severe\nenvironmental impacts. Recycling would decrease both, but even if recycling\nincreased, rising global demand for many metals would remain a huge\nenvironmental challenge.  ](/reports/environmental-risks-and-challenges-\nanthropogenic-metals-flows-and-cycles)\n\n[ Metal Recycling  A global move to a Product-Centric approach, in which\nrecycling targets specific components of a product and devises ways to\nseparate and recover them, is essential. This report addresses the challenges\nof recycling increasingly complex products.  ](/reports/metal-recycling)\n\n[ City-Level Decoupling  Most resource consumption takes place in cities. How\na city is designed shapes how its inhabitants use transport, energy and water,\nand dispose of waste. The challenge is to build vibrant cities with reduced\nresource use and environmental impacts.  ](/reports/city-level-decoupling)\n\n[ Measuring Water Use in a Green Economy  How do we meet the water, energy,\nland and material needs of up to 9 billion people, while keeping climate\nchange, biodiversity loss and health threats within planetary boundaries?\n](/reports/measuring-water-use-green-economy)\n\n[ Responsible Resource Management for a Sustainable World  This report brings\ntogether highlights of five previous reports to enable policy-makers and\nbusiness leaders to begin decoupling economic activity from resource use to\nallow the global economy to operate within the limits of the Earth\u2019s\nresources.  ](/reports/responsible-resource-management-sustainable-world)\n\n[ Recycling Rates of Metals  Recycling rates of metals are far lower than\npotential for reuse. Less than one-third of 60 studied have a recycling rate\nabove 50 per cent, though many are crucial to clean technologies such as\nbatteries for hybrid cars or magnets in wind turbines.  ](/reports/recycling-\nrates-metals)\n\n[ Decoupling Natural Resource Use and Environmental Impacts from Economic\nGrowth  We are using unsustainable amounts of the Earth\u2019s natural resources.\nWe need to improve the rate of resource productivity (\u201cdoing more with less\u201d)\nfaster than the economic growth rate. This is the notion behind \u201cdecoupling\u201d.\n](/reports/decoupling-natural-resource-use-and-environmental-impacts-economic-\ngrowth)\n\n[ Metal Stocks in Society  A key question that relates to the very broad and\nintensive use of metals is whether society needs to be concerned about long-\nterm supplies of any or many of them. To examine this question, this reports\nreviews 54 studies on the topic.  ](/reports/metal-stocks-society)\n\n[ Assessing the Environmental Impacts of Consumption and Production  This\nreport gives a scientific assessment of which global environmental problems\npresent the biggest challenges, and weighs up the impacts of various economic\nactivities to identify priorities for change.  ](/reports/assessing-\nenvironmental-impacts-consumption-and-production)\n\n[ Assessing Biofuels  This report provides a robust assessment of key problems\nof production and use of biomass for energy purposes and options for more\nefficient and sustainable production and use of biomass.\n](/reports/assessing-biofuels)\n\n",
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                "page_content": "  * [ TOP ](/en/)\n  * [ Sustainability ](/en/sustanability/)\n  * Climate change \n\n##  Climate change\n\n###  Basic ideas\n\nTokai Carbon Group recognizes that addressing climate change is an important\nmanagement issue. In November 2021, by resolution of the Board of the\nDirectors, the Group expressed its support the Task Force on Climate-related\nFinancial Disclosure (TCFD).  \nWe will take appropriate measures toward achieving a low-carbon and carbon-\nneutral society by understanding the impact of climate change on our business\nbased on TCFD recommendations.\n\n###  Initiatives\n\n####  Information disclosure in line with TCFD recommendations\n\nTraditionally, we have implemented measures such as flood-control measures for\nhigh-priority offices, diversifying risks in main businesses by establishing\nmultiple bases, and incorporating natural disasters into business continuity\nplans (BCPs). In order to better understand the risks and opportunities of\nclimate change for the Group, we made the initial calculation of business\nimpact through scenario analysis, which is a requirement of the TCFD\nrecommendations, in December 2020, and reviewed the calculation in May 2023.  \nThe TCFD recommendations call for disclosure of governance, strategy, risk\nmanagement, targets, and indicators related to climate change. In line with\nthe TCFD recommendations, we are analyzing the impact of climate change on our\nbusiness and taking measures to address it.\n\n####  \u00e2\u0096 Governance\n\nAt Tokai Carbon, the Board of Directors controls the climate change risk\nwithin the Company-wide risk management system. Under the umbrella of Board of\nDirectors, the Risk Management and Compliance Committee conducts assessments\nof material risks affecting the Company, including climate change risk, and\nreports the findings to the Board of Directors. In addition, following the\npolicies made by Board of Directors, Carbon Neutral Committee led by the\nPresident, formulates policies for low-carbon/carbon-neutral and reports\nquarterly to Board of Director safter discussing the CO2 emission reduction\ntargets and plans to achieve. We continue to monitor the progress under the\nsupervision of the Board of Directors and focus on achieving targets by\nplanning and executing measures according to the progress.\n\n####  \u00e2\u0096 Risk management\n\nTo mitigate the risk of losses in business operations, each department\nimplements daily risk management in accordance with rules and policies related\nto accounting and financial, business partner, export, environmental and\ndisaster prevention, quality, information security, and investment management.\nIn addition, the Risk Management and Compliance Committee meets in principle\nevery quarter to discuss important matters related to risk and compliance.\nBased on the results of these discussions, the Committee provides advice to\nrelevant parties and reports to the Board of Directors and other management\nbodies in an effort to identify risks and improve risk management. Climate\nchange risk was identified by the Risk Management and Compliance Committee as\none of the material risk for the company. Following the policies made by Board\nof Directors, Carbon Neutral Committee led by the President, formulates\npolicies for low-carbon/carbon-neutral and reports quarterly to Board of\nDirectors after discussing the CO2 emission reduction targets and plans to\nachieve.\n\n####  \u00e2\u0096 Analysis of strategy, risks, and opportunities\n\nTo analyze the impact of climate change on our business (risks and\nopportunities), we selected 1.5\u00e2\u0084\u0083 and 4\u00e2\u0084\u0083 scenarios* as climate change\nscenarios and conducted scenario analyses with the time axis set to 2030 and\n2050.\n\n*1.5\u00e2\u0084\u0083 scenario: A control scenario in which the necessary measures are taken to limit the temperature rise to 1.5\u00e2\u0084\u0083 above pre-industrial levels.   \n4\u00e2\u0084\u0083 scenario: A scenario in which the average temperature rises by 4\u00e2\u0084\u0083 above\npre-industrial levels. This is a business as usual scenario where economic\nmeasures and additional measures against climate change are not taken.\n\n####  \u00e3\u0080\u0087Scenario analysis process\n\n(1) Decide the scope of analysis  \n(2) Identify risks and opportunities from climate change  \n(3) Specify key risks and opportunities (key drivers)  \n(4) Calculate the financial impact of material risks and opportunities\nspecified  \n(5) Formulate response policies and concrete strategies\n\n####  \u00e3\u0080\u0087Set scenario\n\nScroll horizontally to view the whole table\n\nScenario category  |  Scenario summary  |  Reference scenario   \n---|---|---  \n1.5\u00e2\u0084\u0083 scenario  |  A control scenario in which the necessary measures are taken to limit the temperature rise to 1.5\u00e2\u0084\u0083 above pre-industrial levels.  |  \u00e3\u0083\u00bbNet Zero Emissions by 2050 Scenario(IEA, WEO2022)  \u00e3\u0083\u00bbSustainable Development Scenario(IEA, ETP2020)  \u00e3\u0083\u00bbBeyond 2\u00e2\u0084\u0083 Scenario(IEA, ETP2017)  \u00e3\u0083\u00bbRCP 2.6/4.5 (IPCC, AR5)   \n4\u00e2\u0084\u0083 Scenario  |  A Scenario in which the average temperature rises by 4\u00e2\u0084\u0083 above pre-industrial levels. This is a business as usual scenario where economic measures and additional measures against climate change are not taken.  |  \u00e3\u0083\u00bbRCP 8.5 (IPCC, AR5)  \u00e3\u0083\u00bbStated Policies Scenario(IEA, WEO2022)   \n  \n####  \u00e3\u0080\u0087Scenario analysis targets\n\nScroll horizontally to view the whole table\n\nTarget businesses  |  Four major businesses (Graphite Electrodes, Carbon Black, Fine Carbon, and Smelting and Lining) accounting for approximately 90% of Tokai Carbon's sales as of 2022   \n---|---  \nTimeline  |  2030 and 2050 *2040 if there is no reference data for 2050   \n  \n####  \u00e3\u0080\u0087Results of scenario analysis\n\n4\u00e2\u0084\u0083 scenario: High physical risk, relatively low transition risk  \n1.5\u00e2\u0084\u0083 scenario: High transition risk, relatively low physical risk\n\n4\u00e2\u0084\u0083\n\nScroll horizontally to view the whole table\n\nBusiness  |  Factors  |  Opportunities/risks  |  Envisioned financial impact on the Company  |  Strategy & response   \n---|---|---|---|---  \nCommon to all four businesses  |  Production stoppages and supply chain disruptions due to increased typhoons, flooding, and torrential rains  |  Physical risk  |  Our BCP measures have limited the risk of serious impact on operations, but our businesses may be affected if an unexpected event occurs in the future.  |  Implementation and periodic review of BCP measures from a medium- to long-term perspective   \n  \n1.5\u00e2\u0084\u0083\n\nScroll horizontally to view the whole table\n\nBusiness  |  Factors  |  Opportunities/risks  |  Envisioned financial impact on the Company  |  Strategy & response   \n---|---|---|---|---  \nCommon to all four businesses  |  Increased burden due to expanded introduction of carbon pricing  |  Transition risk  |  Most of the raw materials used in our businesses are derived from fossil fuels, and if we include not only the CO2 emissions from the combustion of fossil fuels and the use of electricity, which are energy sources, but also the CO2 emissions emitted in the production process, the burden of introducing carbon pricing is enormous.  |  Reduction of CO2 emissions, through fuel conversion, use of renewable energy, CO2 capture, product recycling, etc.   \nCommon to all four businesses  |  Compulsory use of renewable energy (use is unavoidable)  |  Transition risk  |  Electricity accounts for a high percentage of the energy used in the production processes of our businesses. Purchasing electricity generated from renewable energy sources will lead to increased operating costs.  |  \u00e3\u0083\u00bbReduction of CO2 emission coefficient due to the spread of renewable energy in society   \n\u00e3\u0083\u00bbConsider the efficient procurement of renewable energy  \nCommon to all four businesses  |  \u00e3\u0083\u00bbDissemination of technologies that do not use fossil fuel-derived raw materials   \n\u00e3\u0083\u00bbIncreasing demand for low-carbon products, changing consumer attitudes toward fossil fuel-derived materials  |  Transition risk  |  \u00e3\u0083\u00bbDecrease in sales due to increased pressure to use alternative materials for products that use fossil fuel-derived raw materials. In addition, R&D expenses for product development using alternative raw materials increased.  |  \u00e3\u0083\u00bbIn the CB business, promote development of technologies for use of raw materials other than fossil fuel-derived, reuse of used tires, and recovery and reuse of energy. We aim to increase the added value of products by reducing CO2 emissions during product manufacturing, and to minimize risk factors by reducing the burden of carbon pricing.   \nElectrodes  |  Increasing advantages of electric furnaces  |  Opportunities  |  Increased demand for graphite electrodes  |  \u00e3\u0083\u00bbPursuing the production of even higher quality graphite electrodes   \n\u00e3\u0083\u00bbStable supply in response to increased demand  \n  \n####  Carbon-neutral initiatives\n\nIn May 2021, we launched a Carbon Neutral Project led by the President. This\nwas to propel the group\u00e2\u0080\u0099s efforts for low-carbon/carbon neutral. In January\n2022, the project was re-formulated as Carbon Neutral Committee to become a\nhigh level command tower of carbon neutral efforts of the entire organization.\nThe committee will monitor the progress under the supervision of the Board of\nDirectors and focus on achieving targets by planning and executing measures\naccording to the progress.  \n[ \u00e2\u0086\u0092Carbon neutral initiatives\n](https://www.tokaicarbon.co.jp/en/sustanability/carbon_neutral.html)\n\n####  \u00e2\u0096 Indicators and targets\n\nTokai Carbon Group target to reduce CO2 emissions by 25% (VS 2018) before 2030\nand achieve carbon-neutral in 2050.\n\n* Scope of the targets: Scope 1 and Scope 2 \n\n####  Membership in external organizations\n\n####  \u00e3\u0080\u0090Japan Chemical Industry Association (JCIA)\u00e3\u0080\u0091\n\nWe participate in the activities of the Association as the member of the JCIA.\nThe purpose of the JCIA is to conduct surveys and research for production,\ndistribution, consumption and other aspects and on various issues related to\ntechnology, labor, the environment, safety, etc., related to the chemical\nindustry. It also conducts planning and promotion of various countermeasures\nfor the sound development of the chemical industry and to contribute to the\nprosperity of Japan\u00e2\u0080\u0099s economy and daily life. Above all, the Association\nparticipates in the Carbon neutral action plan (formally, Low carbon society\nimplementation plan) sponsored by the Japan Business Federation, and has\npublished a target of a 32% reduction in CO2 emissions by FY2030, with a view\nto achieving carbon neutrality by FY2050. Tokai Carbon, as a member of the\nAssociation shall promote the reduction of CO2 emissions and energy\nconservation towards achieving this goal.  \n[ (Japan Chemical Industry Association (JCIA) website\nhttps://www2.nikkakyo.org/english) ](https://www2.nikkakyo.org/english)\n\n####  \u00e3\u0080\u0090Japan Carbon Association\u00e3\u0080\u0091\n\nJapan Carbon Association is an organization of carbon products manufacturers\nto further develop the carbon products and the industries. President of Tokai\nCarbon has been appointed as a chairman of this association. In March 2022, as\na response to climate change, the association announced its \u00e2\u0080\u009cPolicy on\nCarbon Association Initiatives to Achieve Carbon Neutral by 2050\u00e2\u0080\u009d, to\nclarify its aim to achieve carbon neutral by 2050 through energy conservation,\nfuel conversion, power conversion and use of energy sources that are not\ndependent on fossil fuels. President of Tokai Carbon has taken the roll to\nlead this initiatives as the chairman of the association.  \nAs we had announced our commitment to achieve carbon neutral by 2050 prior to\nthe association, we will work on reducing CO2 emissions as an industry-wide\neffort based on the association policy.  \n[ (Japan Carbon Association website\u00e3\u0080\u0080https://tansokyoukai.org/)\n](https://tansokyoukai.org/)\n\n###  Performance\n\n####  Environmental data\n\nEnergy consumption\n\n|  Unit  |  2018  |  2019  |  2020  |  2021  |  2022  |  2023   \n---|---|---|---|---|---|---|---  \nNon-renewable energy  \nconsumption  |  Electricity  |  MWH  |  1,169,635  |  999,935  |  855,232  |  845,256  |  938,079  |  799,244   \nsteam  |  MWH  |  2,251  |  4,004  |  5,358  |  1,045  |  546  |  571   \nFuels  |  MWH  |  925,532  |  998,431  |  1,122,098  |  1,020,462  |  1,239,842  |  1,350,829   \nTotal  |  MWH  |  2,097,418  |  2,002,370  |  1,982,688  |  18,666,762  |  2,178,467  |  2,150,643   \nRenewable energy  \nconsumption  |  Electricity  |  MWH  |  3  |  3  |  3  |  180,090  |  203,747  |  240,265   \nTotal energy consumption  |  MWH  |  2,097,421  |  2,002,373  |  1,982,691  |  2,046,852  |  2,382,215  |  2,390,908   \n  \n[Boundary]  \nEmissions from all the consolidated production bases, head office, branches,\nand laboratories, are calculated.\n\n[Period covered]\n\nJapan  |  Overseas   \n---|---  \n2018-2020:April to March(Tokai Konetsu Kogyo: January to December)  \n2021: January to December  |  January to December   \n  \nGHG emissions(Scope1\u00e3\u0080\u0081Scope2\u00ef\u00bc\u0089(consolidated)\n\n|  2018  |  2019  |  2020  |  2021  |  2022  |  2023   \n---|---|---|---|---|---|---  \nCO2 emissions  \n\u00ef\u00bc\u0088thousand tCO2e\u00ef\u00bc\u0089  |  3,056  |  2,687  |  2,232  |  2,409  |  2,408  |  2,219   \nScope1\u00ef\u00bc\u0088thousand tCO2e\u00ef\u00bc\u0089  |  2,430  |  2,164  |  1,825  |  2,070  |  2,018  |  1,900   \nScope2\u00ef\u00bc\u0088thousand tCO2e\u00ef\u00bc\u0089  |  626  |  523  |  406  |  339  |  391  |  318   \n  \nCalculation of Scope 1 and Scope 2 GHG emissions\n\n[Scope of coverage]\n\nCO2  |  All the consolidated production sites, head office, branches, and laboratories (Tokai Carbon (Dalian) Co., Ltd., Tokai Carbon (Suzhou) Co., Ltd., Shanghai Tokai Konetsu Co., Ltd., Tokai Konetsu (Suzhou) Co., Ltd., and Tokai Carbon Europe Ltd. Italia Branch were added in 2022)   \n---|---  \nCH4\u00e3\u0080\u0081N2O  |  Starting in 2022, major production sites that account for approximately 98% of consolidated CO2 emissions have been added to the scope of the calculation   \n  \n[Period covered]\n\n|  Japan  |  Overseas   \n---|---|---  \nCO2  |  Energy sources  |  Until 2020: April to March   \n(Tokai Konetsu Kogyo: January to December)  \n2021 and after: January to December  |  January to December   \nNon-energy sources  |  January to December  |  January to December   \nCH4\u00e3\u0080\u0081N2O  |  \\-  |  January to December (*calculation period from 2022)   \n  \n[Calculation Method]\n\nCO2 equivalent emissions are calculated using the global warming potentials of\nCO2, CH4, and N2O gases. HFCs, PFCs, SF6, and NF  3  are excluded from\ncalculations because these emissions are negligible.\n\nScope 1: Direct GHG emissions from corporate activities, including energy-\nderived GHG emissions and non-energy-derived GHG emissions (emissions from\nindustrial processes) are calculated. In principle, GHG emissions from non-\nenergy sources are calculated from the amount of raw and auxiliary materials\nused and the balance of products and waste.\n\nScope 2:\n\n  * Indirect CO2 emissions associated with use of energy in corporate activities \n  * The market-based method in the GHG Protocol is used. For emissions in Japan, the emission coefficient by electricity utility under the Act on Promotion of Global Warming Countermeasures applies. For overseas emissions, emission coefficients published by electricity utilities are used, although the latest emission coefficients published by IEA or national and regional authorities are used for emissions from some plants. \n\nCO2 emissions\u00ef\u00bc\u0088Scope3\u00ef\u00bc\u0089 Unit : thousand tCO2e\n\n|  2019  |  2020  |  2021  |  2022  |  2023   \n---|---|---|---|---|---  \nScope3  |  3,322  |  1,619  |  1,599  |  1,805  |  1,659   \nCategory1\u00e3\u0080\u0080Purchased goods and services  |  469  |  189  |  341  |  1,343  |  1,188   \nCategory2 Capital goods  |  20  |  23  |  22  |  51  |  99   \nCategory3 Fuel-and energy-related activities not included in Scope1 or Scope2  |  N/A  |  N/A  |  N/A  |  82  |  74   \nCategory4 Upstream transport and delivery  |  5  |  5  |  6  |  6  |  7   \nCategory5 Waste generated in operations  |  0.5  |  0.4  |  0.7  |  0.5  |  0.6   \nCategory6 Business travel  |  N/A  |  N/A  |  N/A  |  0.4  |  0.5   \nCategory7 Employee commuting  |  0.4  |  0.4  |  0.4  |  0.4  |  0.4   \nCategory8 Upstream leased assets  |  N/A  |  N/A  |  N/A  |  N/A  |  N/A   \nCategory9 Downstream transportation and delivery  |  N/A  |  N/A  |  N/A  |  N/A  |  0.7   \nCategory10 Processing of sold products  |  N/A  |  N/A  |  N/A  |  N/A  |  0.9   \nCategory11 Use of sold products  |  2,827  |  1,402  |  1,228  |  321  |  288   \nCategory12 End-of-life treatment of sold products  |  \\-  |  \\-  |  \\-  |  \\-  |  \\-   \nCategory13 Downstream Leased Assets  |  N/A  |  N/A  |  N/A  |  N/A  |  N/A   \nCategory14 Franchises  |  N/A  |  N/A  |  N/A  |  N/A  |  N/A   \nCategory15 Investments  |  N/A  |  N/A  |  N/A  |  N/A  |  N/A   \n  \nScope 3 calculation method\n\n[Boundary]\n\n  * The reporting boundary from 2019 to 2021 is Tokai Carbon Co., Ltd. That for Categories 1, 2, 3, 11 and 12 is Tokai Carbon Co., Ltd. and its consolidated subsidiaries. \n  * However, Categories 9, 10, 11 and 12 cover only some businesses and products. \n\n[Period of tabulation]\n\nCategory 1\u00e2\u0080\u00933, 5\u00e2\u0080\u009315: January\u00e2\u0080\u0093December\n\nCategory 4: April\u00e2\u0080\u0093March of the following year\n\n[Calculation method]\n\n  * References used in calculation of Scope 3 include \u00e2\u0080\u009cBasic Guidelines on Accounting for Greenhouse Gas Emissions Throughout the Supply Chain Ver 2.5\u00e2\u0080\u009d and \u00e2\u0080\u009cThe Emissions Unit Database for Accounting of Greenhouse Gas Emissions, etc., by Organizations Throughout the Supply Chain (Ver. 3.3)\u00e2\u0080\u009d from the Ministry of the Environment and the Ministry of Economy, Trade and Industry; emission coefficients by electrical utility published by the Ministry of the Environment; and emissions factor specified in LCI Database IDEA v3.3. \n  * Category 1: Through 2021, calculated as total value of procurement of major raw materials multiplied by emission factor. From 2022, it is calculated for the top 80% or more of the value of purchased raw materials and auxiliary materials by multiplying the annual purchase for each target item by the emission factor. \n  * Category 2: Calculated by multiplying the purchase value of capital goods by emission factor. \n  * Category 3: Calculated by multiplying the amount of energy totaled in Scope 1 and 2 by emission factor. \n  * Category 4: Calculated by multiplying the fuel consumption and transport ton-kilometers by emission factor. \n  * Category 5: Calculated by multiplying type-specific amount of waste disposal and recycling by emission factor. \n  * Category 6: Calculated by means-of-transportation-specific value of transportation expenses by emission intensity, and adding the number of accommodation stays multiplied by the emission factor of the accommodation facilities. \n  * Category 7: Calculated by multiplying the number of employees by number of business days and by emission factor. \n  * Category 9: The scope of this report is the Fine Carbon Division. Calculations were made by multiplying the transportation ton-kilometers by the emissions intensity for the logistics of products sold by the Fine Carbon Division to the final consumer. \n  * Category 10: The scope of this report is the Fine Carbon Division. Calculated by multiplying the sales volume of intermediate products from the Fine Carbon Division by the emissions intensity per processed amount. \n  * Category 11: The scope of reporting through 2021 is the Graphite Electrode Division. Calculated by multiplying products\u00e2\u0080\u0099 energy consumption and sales volume by emission factor, and adding the CO2 generated from the products themselves during use. The scope from 2022 is the Graphite Electrode Division and the S&L Division. CO2 generated from the products themselves during use is calculated. \n  * Category 12: The scope of reporting is the Graphite Electrode Division. \n\nTOP\n\n  * [ Company  ](/en/company/)\n    * [ Welcome toTokai Carbon. ](/en/first/)\n    * [ The Tokai Carbon Business Model ](/en/company/summary/)\n    * [ CEO\u00e2\u0080\u0099s Greeting ](/en/company/message.html)\n    * [ Philosophy ](/en/company/philosophy.html)\n    * [ Overview ](/en/company/profile.html)\n    * [ Management ](/en/company/officer.html)\n    * [ Location ](/en/company/office.html)\n    * [ History ](/en/company/history.html)\n    * [ Organization ](/en/company/organization.html)\n\n  * [ Business  ](/en/products/)\n    * [ Graphite Electrodes ](/en/products/graphite/)\n    * [ Carbon black ](/en/products/carbon_b/)\n    * [ Fine Carbon ](/en/products/fine_carbon)\n    * [ Smelting and Lining ](/en/products/cobex/)\n    * [ Industrial Furnaces and Related Products ](/en/products/furnace/)\n    * [ Friction Materials ](/en/products/friction/)\n    * [ Anode Materials ](/en/products/nem/)\n    * [ Research & Development ](/en/products/research/)\n\n  * [ IR  ](/en/ir/)\n    * [ Financial Highlights ](/en/ir/highlight.html)\n    * [ Stock price chart ](/en/ir/chart.html)\n    * [ Mid-term management plans ](/en/ir/plan.html)\n    * [ IR Event ](/en/ir/event.html)\n    * [ IR Documents ](/en/ir/library)\n    * [ Stock Information ](/en/ir/information.html)\n    * [ Rating\u00e3\u0083\u00bbBonds ](/en/ir/corporate_bond.html)\n    * [ Shareholders meeting ](/en/ir/shareholders-meeting.html)\n    * [ FAQ ](/en/ir/support.html)\n\n  * [ Sustainability  ](/en/sustanability/)\n    * [ Message ](/en/sustanability/message.html)\n    * [ Basic idea, Target ](/en/sustanability/csr_management.html#anchor01)\n    * [ Establishing a strong business platform ](/en/sustanability/#anchor01)\n    * [ Harmony with the global environment ](/en/sustanability/#anchor02)\n    * [ Governance ](/en/sustanability/#anchor03)\n    * [ Supply chain management ](/en/sustanability/#anchor04)\n    * [ Sustainability related materials ](/en/sustanability/#anchor05)\n\n  * [ News  ](/en/news/) [ Recruit  ](/recruitment/) [ Inquiry  ](/en/inquiry/)\n\n[ Site Policy  ](/en/sitepolicy/) [ Privacy Policy  ](/en/privacy/)\n\n[ Site Policy ](/en/sitepolicy/) [ Privacy Policy ](/en/privacy/)\n\n\u00e3\u0080\u0092107-8636 Aoyama Building, 1-2-3 Kita Aoyama, Minato-ku, Tokyo\u00e3\u0080\u0080  \nTel\u00ef\u00bc\u009a03-3746-5100\n\nCopyright\u00c2\u00a9 Tokai Carbon Co., Ltd. All rights reserved.\n\n",
                "url": "https://www.tokaicarbon.co.jp/en/sustanability/climate-change.html"
            },
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            "summary": "A page from Tokai Carbon detailing their sustainability efforts related to climate change.",
            "url": "https://www.tokaicarbon.co.jp/en/sustanability/climate-change.html"
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                    "source": "https://www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/"
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                "page_content": "Skip to main content\n\nCONTINUE TO SITE \u279e\n\n#  Climate risks are accelerating. Here\u2019s what Duke, PG&E and 16 other\nutilities expect to pay.\n\nUtility Dive took a closer look at how climate risks are threatening utilities\n\u2014 and how much it\u2019s going to cost to mitigate them.\n\nNovember 18, 2020  \u2022  By [ Utility Dive Team\n](https://www.utilitydive.com/editors/)\n\nEditor\u2019s Note: This article is part of a [ series\n](https://www.utilitydive.com/news/calculating-the-costs-of-climate-change-in-\nthe-energy-waste-sectors/588895/) on the way the utility and waste and\nrecycling industries are accounting for climate change.\n\nThe risks and liabilities from climate change-related events have taken center\nstage for financial institutions and investors in the energy space. Such risks\nand liabilities are also not far from mind for electric utilities, but how do\nthese companies weigh the impact and mitigation costs of their generation,\ndistribution and transmission activities?\n\nThe [ Fourth National Climate Assessment\n](https://www.utilitydive.com/news/federal-climate-report-us-energy-\ntransportation-sectors-not-prepared-for/542928/) , published in 2018,\nidentified energy infrastructure as being especially vulnerable to the impacts\nof climate change, which is in part stoked by emissions in the sector.\nScientists from 13 federal agencies under the Trump administration warned the\neconomic impacts of climate change on some industrial sectors could outmatch\nthe annual gross domestic product of many U.S. states.\n\nThe electric industry has acknowledged the physical risks accelerated by\nclimate change, such as sea level rise, worsening storms and wildfires, and\ndrought. Insight into their estimates on the cost of impact and mitigation of\nthose physical risks could help build the picture of how seriously utilities\nare considering these threats, according to Ateli Iyalla, managing director of\nCDP's North America region.\n\nCDP, formerly the Carbon Disclosure Project, has issued voluntary\nquestionnaires on the reporting of emissions and climate impacts for cities\nand companies around the world since the early 2000s. Utility Dive has\noutlined the responses of 18 utilities regarding physical threats in an\ninteractive list below. Participation from utilities in North America\ncontinues to grow, although major players in the space, such as NextEra\nEnergy, have not responded to the questionnaire.\n\nUtilities respond to the CDP with a varied level of granularity. The highest\nranked utilities in 2019 \u2014 Pinnacle West, NRG Energy and Dominion Energy \u2014\ngranted a lot of visibility into their planning through the granular amount of\ndata in their filings, according to Iyalla. But even the ones that respond\nwithout fully answering the purposefully open-ended questions are considered\nto be valuable because their answers establish \u201cthat benchmark and baseline\u201d\nfrom which utilities can improve their filings, Iyalla said.\n\nUtility Dive grouped and analyzed the latest available CDP filings from 18\nutilities throughout the U.S. to compare the various levels of detail that\nutilities are offering, specifically regarding the physical risks posed by\nclimate change. Of the utilities included in this group, nearly all had at\nleast one physical risk identified that would impact the utility in the short\nterm or mid term. Details on the costs related to these issues and other\nanalyses for mitigating the solution were reported unevenly, but the CDP\nemphasizes that the filing in itself is a huge step for companies.\n\n\u201cThe most nefarious risk is the one you can\u2019t see, so if you can\u2019t \u2026 see these\nrisks, you definitely cannot manage them,\u201d Iyalla said. \u201cJust because a\ncompany is reporting more risks than others doesn\u2019t mean it\u2019s facing more\nrisks than others,\u201d \u2026 but rather that it is associated with \u201ctheir level of\nawareness.\u201d\n\nThe CDP disclosure framework has been around longer than others, but there are\nseveral avenues through which companies are increasing visibility into their\nclimate plans, including through the Task Force on Climate-Related Financial\nDisclosures (TCFD), according to John Hodges, vice-president of Business for\nSocial Responsibility. Like the CDP, however, Hodges noted that not all\ncompanies are filing disclosures yet through TCFD \u2014 created in 2015 by the\nFinancial Stability Board.\n\n\u201cThis is really gone past an inflection point where it\u2019s not a question of\n\u2018if.\u2019 It\u2019s a question of \u2018when\u2019 these companies will start making the proper\nstrategy\u2026 investment, so forth,\u201d Hodges said.\n\nCDP asks utilities whether they have identified \u201cinherent\u201d climate-related\nrisks with \u201csubstantive\u201d analysis.\n\n\u201cUtilities will no doubt have a unique perspective given that they are the\nones investing billions to protect their assets \u2014 from redesigning their\nelectrical networks, to elevating their equipment, to building floodwalls \u2013\nfrom extreme events to ensure their customers don\u2019t lose power,\u201d Kelly Levin,\na senior associate with World Resources Institute\u2019s (WRI) global climate\nprogram, said in an email.\n\nGet utility news like this in your inbox daily. Subscribe to Utility Dive.\n\nTemperatures globally have [ risen 1.1 degree Celsius\n](https://public.wmo.int/en/media/press-release/wmo-confirms-2019-second-\nhottest-year-record) from pre-industrial temperatures, and are expected to\nrise as much as 3.2 degrees Celsius by the end of the century despite the\nimplementation of existing climate pledges, according to WRI and [ UN\nEnvironment Programme 2019 Emissions Gap report\n](https://www.unenvironment.org/news-and-stories/press-release/cut-global-\nemissions-76-percent-every-year-next-decade-meet-15degc) , making more\naggressive climate commitments from utilities important.\n\nAccording to the investor-owned utility association Edison Electric Institute,\nall of its members have plans to reduce at least 80% of their emissions by\n2050.\n\n\u201cIt will be critical that utilities conduct a comprehensive assessment of\nrisks, including drivers of those risks, as well as evaluate their assessment\nmethods for risks,\u201d Levin said.\n\nThe manner in which utilities are estimating the mitigation and impact costs\nof specific carbon risks varies greatly, but many utilities are identifying\nsimilar physical and transitional risks as part of their CDP responses.\n\n\u201cWhy are companies doing this?\u201d Hodges said, positing the acknowledgement of\nclimate risks is \u201cvery much driven by investors.\u201d\n\n\u201cMost large asset management firms now have what they would call\n[environmental, social and corporate governance] ESG investment professionals,\nwho are scrutinizing their investments from an ESG perspective, and some of\nthem may have focus or specialization around the industry as well,\u201d Hodges\nsaid.\n\n####  Some risks, like wildfires and rising sea levels, are concentrated in\ncertain regions\n\nBelow is a US map, divided into five regions, with utilities covering each\nregion that have submitted recent CDP filings. By selecting a risk, you can\nsee the utilities with that risk and the regions that they cover. To read more\nabout a utility, click on it in the list.\n\nSelect a risk to see which utilities have them:\n\nSelect a risk to see which utilities have them:\n\nWest\n\n  * Los Angeles Department of Water and Power \n  * Pacific Gas & Electric \n  * Sacramento Municipal Utility District \n  * Sempra Energy \n\nMidwest\n\n  * Ameren \n  * DTE Energy \n  * Exelon \n  * WEC Energy Group \n  * Xcel Energy \n\nNortheast\n\n  * Avangrid \n  * Liberty Utilities \n  * National Grid \n\nSouthwest\n\n  * NRG Energy \n  * Pinnacle West \n\nSoutheast\n\n  * Dominion Energy \n  * Duke Energy \n  * Entergy \n  * Southern Company \n\nClassification of regions are from National Geographic\n\n##  Los Angeles Department of Water and Power\n\nWest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nWildfires  |  $350 million  |  $93.78 million  |  20-30 years   \nRising mean temperatures  |  $390,000* - $1 million  |  $0  |  20-30 years   \nOther risks  |  |  |   \nChanging customer behavior  |  $0 - $25.65 million  |  $22.16 million  |  5-20 years   \n  \n* Rounded up to the nearest 10,000 \n\nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=883024&locale=en&organization_name=Los+Angeles+Department+of+Water+and+Power&organization_number=57396&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F91174&survey_id=68887525)\n\n  * LADWP could face losses of up to $350 million if its equipment or operations cause a wildfire. The utility\u2019s mitigation measures take into account vegetation management and designing transmission lines to withstand wind conditions, for example. \n  * Rising temperatures could lead to decreasing thermal efficiencies, meaning that more fuel will be required to generate the same amount of power. LADWP\u2019s estimated cost of impact is based on the price of additional emissions that will be required to make up for that. The utility addresses this risk by incorporating decreasing thermal efficiencies in its load forecast. \n  * Energy efficiency, distributed solar and other distributed energy resources could reduce energy sales and thereby, revenues, posing a market-related climate risk, according to the utility. These measures will also lower costs. \n  * LADWP is aiming to increase distributed solar installation by 4,000 GWh over the next decade. It has a combined budget of roughly $22.2 million for its community solar and utility built solar efforts. \n\nLADWP is aiming to supply 55% renewable energy by 2025, 80% by 2038 and 100%\nby 2045. As part of that transition, the municipal utility announced plans\nlast year to shift away from coal generation at its Intermountain Power\nProject, to natural gas and by 2045, hydrogen. The facility will have the\nability to run on a 30% hydrogen fuel mix on its first day of operation,\nbefore scaling up to 100%.\n\n##  Pacific Gas & Electric\n\nWest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nIncreased severity of heat waves  |  $150 million - $300 million  |  $46 million  |  0-1 year   \nFloods/cyclones  |  $0 - $125 million  |  $205 million  |  10-25 years   \nChanges in precipitation  |  N/A  |  $151.2 million  |  10-25 years   \nRising sea levels  |  N/A  |  $50,000  |  10-25 years   \nWildfires  |  N/A  |  $11.7 billion  |  10-25 years   \nOther risks  |  |  |   \nRenewable portfolio standard regulations  |  $0 - $25 million  |  $2.3 billion  |  0-1 year   \nUncertainty around GHG regulations  |  $0 - $3.65 million  |  $55 million  |  0-1 year   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=853096&locale=en&organization_name=PG%26E+Corporation&organization_number=14678&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F89542&survey_id=68887525)\n\n  * More severe heatwaves could increase load as well as lead to possible equipment failure, putting stress on the transmission system. A heatwave in July 2006 cost PG&E an estimated $150 million to $300 million, related to the increased price of electricity and infrastructure repairs. The utility addresses this risk through demand response programs, which cost around $46 million in 2019. \n  * PG&E is anticipating worsening storms in the area. In 2019, PG&E recorded $205 million in its catastrophic emergency management account due to storms that damaged electric and gas distributed facilities and electric generation facilities, among other impacts. \n  * Changes in precipitation can impact PG&E\u2019s hydroelectric system \u2014 the largest in the nation. PG&E spent $151 million annually to operate and maintain hydro during California\u2019s drought between 2011 through 2014. \n  * PG&E is conducting a deep dive research project to understand the impacts of inland and coastal flooding, which includes sea level rise, with a budget of $50,000. Preparing for sea level rise could include elevating and replacing equipment; completely moving and rebuilding a substation would cost $100 million at a minimum, according to the utility. \n  * The financial impact of wildfire risk \u201cis unknown but could be substantial,\u201d according to PG&E, due to California\u2019s law of inverse condemnation, which holds utilities liable for the damages caused by fires sparked by their equipment even if they are not found to be negligent. This year, the utility paid out [ $25.5 billion to resolve fire liabilities ](https://www.utilitydive.com/news/pge-exits-bankruptcy-but-long-term-wildfire-risk-could-put-it-back-in-th/581017/) from before 2018, which pushed it into Chapter 11 bankruptcy. PG&E plans to spend $11.7 billion on its wildfire mitigation plan from 2019 through 2022. \n\nPG&E filed for Chapter 11 bankruptcy in early 2019 after facing liabilities\nfrom wildfires caused by its power lines, and paid out $25.5 billion to\nresolve those liabilities and emerge from bankruptcy earlier this year. The\nutility is assessing potential scenarios to meet California\u2019s policy goal of\nachieving 100% renewables or zero-carbon electricity by 2045.\n\n##  Sacramento Municipal Utility District\n\nWest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nChange in precipitation  |  $16.8 million  |  $64 million  |  1-5 years   \nWildfires  |  $5.12 million  |  $7.2 million  |  0-1 year   \nOther risks  |  |  |   \nCurrent regulation  |  $28.45 million  |  $1.5 million  |  0-1 year   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=888695&locale=en&organization_name=SMUD&organization_number=33870&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F107973&survey_id=68887525)\n\n  * Shifts in hydrological cycles could affect the capacity of hydroelectric generation. According to SMUD, one inch of precipitation leads to 35,000 MWh of generation, meaning that a projected 23% decrease in yearly precipitation could lead to a drop of a little over 149,005 MWh, resulting in a $16.8 million loss for the utility. \n  * In 2014 and 2015, SMUD spent roughly $5.1 million responding to the King Fire in El Dorado County, California, which the utility uses as a proxy for the cost of future risks. The utility also spent $7.2 million on wildfire mitigation in 2019, which included roughly $5.8 million on wildfire insurance, as well as a mix of grounding projects, inspecting transmission lines, and other strategies. \n  * The $28.4 million in costs associated with current regulation is an \u201coverestimate\u201d based on the California Air Resources Board\u2019s November greenhouse gas allowance auction, with a price floor of $16.8 per metric ton. However, it doesn\u2019t take into the account the free allowances that SMUD has as well as efforts to reduce emissions. The utility spends between $1.5 million and $2 million on programs to quantify and reduce emissions. \n\nThis July, SMUD passed [ a climate emergency declaration\n](https://www.utilitydive.com/news/smud-aims-for-carbon-neutrality-by-2030-in-\nnew-climate-emergency-declaratio/581883/) that set the municipal utility on\nthe path to delivering carbon-neutral electricity by 2030 \u2014 15 years ahead of\nCalifornia\u2019s goal of supplying 100% electricity from zero-carbon and renewable\nresources by 2045. This is a particularly aggressive timeline, given that most\nutilities that have committed to being carbon-free or net-zero emissions are\naiming to do so around 2045 and 2050.\n\n##  Sempra Energy\n\nWest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nRising sea levels  |  N/A  |  N/A  |  6-10 years   \nWildfire risk  |  N/A  |  $2 billion  |  0-1 year   \nWildfire risk (decreased access to capital)  |  N/A  |  N/A  |  0-1 year   \nOther risks  |  |  |   \nRenewables portfolio standard regulations  |  N/A  |  N/A  |  0-1 year   \nChanging customer behavior (DERs)  |  N/A  |  N/A  |  0-1 year   \nFederal and state air pollution regulations  |  N/A  |  N/A  |  0-1 year   \nChanging customer behavior (departing load)  |  N/A  |  N/A  |  0-1 year   \nSubstitution of existing products and services with lower emissions options  |  N/A  |  N/A  |  6-10 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=856812&locale=en&organization_name=Pinnacle+West+Capital+Corporation&organization_number=14783&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F89551&survey_id=68887525)\n\n  * Sempra Energy\u2019s analysis covers all its subsidiaries, which include San Diego Gas & Electric (SDG&E), Southern California Gas Company (SoCalGas), Oncor Electric Delivery Company, Infraestructura Energetica Nova and Sempra LNG. \n  * Since 2007, SDG&E has invested roughly $2 billion in wildfire mitigation measures in its service territories. Wildfire risk could also lead to downgrades of Sempra Energy\u2019s credit ratings. In September, for instance, S&P Global Ratings revised its outlook on SDG&E from stable to negative due to wildfire activity, which could make it more expensive for Sempra and its subsidiaries to borrow money, raise capital and issue debt securities. Sempra also lists its wildfire-related investments as a mitigation measure against the risk of changing precipitation patterns, which could both affect its power generation facilities in the southwest and increase the risk of regional wildfires. \n  * SDG&E expects that two aspects of changing customer behavior \u2014 shifting to rooftop solar due to utility bill increases, and switching to other load-serving entities \u2014 could impact it in the future. The city of San Diego, for instance, is considering implementing a community choice aggregator, which would leave SDG&E procuring resources for less than half of its bundled load, posing as a market-related climate risk for the utility. \n  * \u201c[A] substantial reduction or the elimination of natural gas as an energy source in California could have a material adverse effect on SDG&E\u2019s, SoCalGas\u2019 and Sempra Energy\u2019s cash flows, financial condition and results of operations,\u201d Sempra noted. \n\nCalifornia\u2019s Senate Bill 100, which was signed in 2018, laid out a goal for\nthe stat to achieve 60% renewable energy by 2030 and 100% renewable or zero-\ncarbon energy by 2045. In 2019, SDG&E delivered 45% of power from renewable\nsources.\n\n##  NRG Energy\n\nSouthwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nIncreased severity and frequency of extreme weather events  |  $40 million  |  $0  |  0-1 year   \nOther risks  |  |  |   \nEmerging regulations/carbon pricing  |  $200,000  |  $0  |  0-1 year   \nChanging customer behavior  |  N/A  |  $0  |  1-3 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=856273&locale=en&organization_name=NRG+Energy+Inc&organization_number=13562&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F89981&survey_id=68887525)\n\n  * NRG Energy uses Hurricane Harvey from 2017 as an illustrative example to show the potential financial impacts of extreme weather. The financial impact includes $20 million cost to its operations business from damage to the Cottonwood Generating Facility and $20 million \u201cin lost revenue to the retail business due to transmission disruptions.\u201d \n  * For extreme weather and other risks, NRG says, \u201cthe cost of management is integrated into operational costs, not an additional cost.\u201d \n  * For emerging regulations, NRG considers a carbon price and says, \u201cthe potential financial impact figure is based on the expense of hiring an additional full time employee to manage the carbon trading program.\u201d \n  * Regarding potential changes in customer behavior, NRG says, \u201cby using less of what we sell, this could impact our profitability.\u201d But it has no financial impact figure, saying that such information is \u201cnot available due to competitive information.\u201d \n\nNRG Energy said in October it has \u201cpartnered with developers to offtake more\nthan 1.9 GW of new solar, with more on the horizon,\u201d to meet its customers\u2019\n\u201cgrowing preference for renewable energy.\u201d The company further said, \u201cthat\nexpanding competitive energy markets and improving access to retail energy\nchoice is an important way to meet sustainability goals,\u201d adding that it has\n\u201calso advocated for the adoption of a Forward Clean Energy Market as a way to\nachieve clean energy outcomes in a way that\u2019s efficient and inclusive.\u201d The\ncompany last year said it expects to reduce emissions 50% below 2014 levels by\n2025 and achieve net zero emissions by 2050.\n\n##  Pinnacle West\n\nSouthwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nWater scarcity, drought  |  $4 million - $6 million  |  $1.4 million  |  1-5 years   \nWildfires  |  $1 million - $2 million  |  $17 million  |  0-1 year   \nOther risks  |  |  |   \nEmerging regulations  |  $1.2 billion  |  $500,000  |  1-5 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=856812&locale=en&organization_name=Pinnacle+West+Capital+Corporation&organization_number=14783&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F89551&survey_id=68887525)\n\n  * Changes in precipitation or prolonged droughts could require Pinnacle West\u2019s principal subsidiary, Arizona Public Service, to drill deeper wells at its Sundance and Yucca power plants, at a cost of $2 million to $3 million each. The utility has a Water Resource Department \u2014 with a $1.4 million annual budget \u2014 that oversees water supplies. \n  * Drought could also create a higher risk of wildfires in APS\u2019 service territory, and the utility is looking at investing into technologies that would help it detect and prevent wildfires \u2014 such a potential capital project could require investments of up to $2 million. The utility also incurs an approximate yearly cost of $17 million for its forestry business unit, which focuses on hardening assets and managing rights-of-way. \n  * A carbon tax \u2014 that Pinnacle calls \u201cone of the most likely but unpredictable outcomes\u201d \u2014 could cost APS $1.2 billion, an estimate based on the cost of carbon dioxide in California\u2019s cap-and-trade market and the utility\u2019s projected carbon emissions between 2019 through 2032. APS estimates that it spends $500,000 a year tied to \u201cmonitoring the regulatory landscape,\u201d half of which goes to personnel costs. \n\nEarly this year, [ APS announced plans\n](https://www.utilitydive.com/news/arizona-public-service-sets-100-clean-\nenergy-target-but-doesnt-rule-out/570870/) to deliver 45% renewables by 2030\nand 100% carbon-free energy by 2050, as well as ending its coal-fired\ngeneration by 2031. That plan would require it to retire two units of the Four\nCorners coal plant as well as the Cholla Power Plant \u2014 which it plans to\nshutter by 2025 \u2014 a move that Sierra Club estimates could save customers\naround $500 million if the plants are replaced with solar-plus-storage\nprojects.\n\n##  Ameren\n\nMidwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nFlooding/precipitation changes  |  $3.2 billion  |  $3.2 billion  |  0-5 years   \nOther risks  |  |  |   \nLoss from decreased load  |  $740 million  |  $740 million  |  5-10 years   \nTransitioning to low-emissions technology  |  $1.2 billion  |  $1.2 billion  |  0-5 years   \n  \nSource: [ 2020 CDP filings ](https://www.ameren.com/-/media/corporate-\nsite/files/environment/ccr-rule/2020/cdp-climate-change-\nquestionnaire.pdf?la=en&hash=863564F572D71647F9DE321F644192BBB294B344)\n\n  * Ameren finds that changes in precipitation, including potential floods or droughts, are considered a short-term, low-magnitude risk. Flooding or an unexpected drought could harm plant operations by limiting the water supply and endanger distribution operations. \n  * The utility\u2019s mitigation response is a plan to invest $3.2 billion in transmission upgrades over the next five years to ensure it can maintain reliability on its system. It also anticipates a loss of load due to changes in customer behavior, including greater energy efficiency and greater use of distributed energy resources. \n  * Its estimated costs of transitioning to low-emissions tech are likely to rise as its $1.2 billion estimate covers just its wind investment costs, and the utility has since upped its renewable energy goals. Ameren in September announced it would spend $4.5 billion over the next decade to add 3.1 GW of new wind and solar to its system. \n\nAmeren announced plans to increase its emissions reductions this year, aiming\nfor net-zero carbon emissions by mid-century. Much of its plan seems to be\ndriven by investor and customer preferences, rather than regulatory pressure,\n[ according to the utility and other stakeholders\n](https://www.utilitydive.com/news/ameren-pledges-net-zero-carbon-\nby-2050-31-gw-new-renewables-by-2030-keep/586013/) .\n\nAs part of its plan, the utility would add 5.4 GW of renewable energy by 2040,\nthough its plan also keeps coal-fired plants online into the 2040s. Advocates\nin the state hope securitization legislation could change its coal plant\nretirement plans.\n\n##  DTE Energy\n\nMidwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nIce storms, severe thunderstorms, tornadoes  |  $5 billion  |  N/A  |  0-5 years   \nRising temperatures  |  N/A  |  N/A  |  0-5 years   \nChanges in precipitation  |  N/A  |  N/A  |  0-5 years   \nOther risks  |  |  |   \nTransitioning to low-emissions technology  |  $3.8 billion  |  N/A  |  0-5 years   \nEnvironmental regulations  |  N/A  |  N/A  |  5-15 years   \nVolatility of natural gas prices  |  N/A  |  N/A  |  5-15 years   \nNegative or incorrect perception of company\u2019s climate action  |  N/A  |  N/A  |  0-5 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=852802&locale=en&organization_name=DTE+Energy+Company&organization_number=5021&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F95778&survey_id=68887525)\n\n  * Ice storms, severe thunderstorms and tornadoes present medium-magnitude, short-term risks to DTE Energy, especially if some of the largest damages cannot be recovered through the rate base. The utility is investing $5 billion over the next five years in distribution infrastructure to improve resiliency, though the utility isn\u2019t yet able to say how much long-term storm patterns may change its normal annual storm planning. \n  * DTE considers the transition to low-emissions technology a high-magnitude, short-term risk that will see the utility investing almost $4 billion over the next five years in natural gas and renewable energy. \n  * To mitigate the impacts of price volatility, the utility\u2019s home state of Michigan has a Power Supply Cost Recovery mechanism that allows DTE to recover fuel costs, including unexpected changes in fuel prices. Investing in wind and solar energy is another way the utility says it mitigates the risk of natural gas\u2019s price volatility. \n  * Warmer weather conditions may reduce the need for heating in the winter, but could increase peak demand in the summer. The utility considers this risk medium-magnitude. \n  * A potential change in Great Lakes water levels due to precipitation changes could negatively impact power plant facilities\u2019 operations, specifically their cooling requirements. It could also impact the supply chain as the Great Lakes are a major transport corridor for raw materials. \n\nDTE is [ aiming to achieve net-zero carbon emissions\n](https://www.utilitydive.com/news/dte-pledges-carbon-free-power-\nby-2050-banking-on-small-reactors-carbon-cap/563819/) by 2050, and reduce\nemissions 80% below 2005 levels by 2040. Michigan, where the utility\nexclusively operates, is [ under an executive order to achieve net-zero\nemissions ](https://www.utilitydive.com/news/michigan-vows-to-go-carbon-\nneutral-by-2050-increase-oversight-of-utility-r/585781/) by 2050, and the\ngovernor\u2019s plan includes a provision that will give the state\u2019s environmental\nregulators greater oversight over the utility\u2019s integrated resource plan.\n\nDTE [ filed an updated resource plan with regulators\n](https://www.utilitydive.com/news/dte-updates-resource-plan-blasted-by-\ncritics-for-favoring-coal-and-gas-over/574740/) this year after regulators [\nfound its initial plan \u201cfundamentally flawed\u201d\n](https://www.utilitydive.com/news/michigan-finds-fundamental-flaws-in-dtes-\nresource-plan-directs-utility/572714/) and directed the utility to reexamine\nits plan with a more realistic look at wind and solar options.\n\n##  Exelon\n\nMidwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nFloods/cyclones  |  $1 million - $31 million  |  $500 million  |  0-2 years   \nOther risks  |  |  |   \nFailure to implement a carbon price in a way that values nuclear  |  $1.14 billion  |  N/A  |  2-6 years   \nNegative stakeholder perception  |  $450 million - $500 million  |  $65,000  |  2-6 years   \nTransitioning to lower emissions technology  |  N/A  |  N/A  |  2-6 years   \n  \nSource: [ 2020 CDP filings\n](https://www.exeloncorp.com/sustainability/Documents/Exelon_Investor_CDP.pdf)\n\n  * Exelon says extreme weather could stress its transmission and distribution systems, communications system and technology leading to increased maintenance and capital costs and limiting its ability to meet peak demand. It could also affect the availability of generation and \u201cthe ability to source or send power to where it is sold.\u201d \n  * The cost of impact for extreme weather reflects the range of increased storm costs from 2018 to 2019, with Exelon utilities Pepco, Delmarva Power and Light and Atlantic City Electric on the low end of the range and Commonwealth Edison on the high end. \n  * The $500 million mitigation cost is for an initiative in parts of Washington, DC, to reduce storm damage from overhead lines by putting select feeders underground. More broadly, Exelon says it invested $5.5 billion across its regulated utilities in 2019 and plans to invest about $26 billion in its utilities from 2020 through 2023, including actions to address the physical risks from climate change and support storm recovery. \n  * Exelon says the failure to enact a carbon price could lead to \u201cdecreased asset value or asset useful life leading to write-offs, asset impairment or early retirement of existing assets.\u201d The company supports both comprehensive federal GHG legislation and state clean energy initiatives. \n  * Exelon says that challenges in communicating the success of its GHG reduction impacts pose a risk to its reputation. Acknowledging that the \u201ceconomic value of reputation is difficult to quantify with precision, Exelon nevertheless says that if 1% of its $45-50 billion in market value could be attributed to climate change-related reputation, the potential financial impact could range from $450 million to $500 million. \n\nWith over [ 19.6 GW of nuclear capacity\n](https://www.exeloncorp.com/locations/Documents/Exelon_fact_Nuclear.pdf) and\nover [ 2 GW of wind and solar ](https://www.exeloncorp.com/company/our-\ngeneration-fleet) , Exelon claims to be \u201cthe largest generator of zero-carbon\nelectricity in the nation.\u201d However, Exelon says that due to various factors,\nincluding low wholesale power prices and the absence of federal or state\npolicies that value the clean attributes of nuclear power, it has closed some\nof its nuclear plants. Additional plants could be at risk for early retirement\nif programs in New York and Illinois that do reward the zero emission\nattributes of nuclear \u201cdo not operate as expected over their full terms.\u201d The\ncompany has [ pushed for alternatives\n](https://www.utilitydive.com/news/exelon-pseg-urge-new-jersey-to-adopt-frr-\nalternative-to-pjm-as-retail-pro/578380/) to current wholesale market\nconstructs to better achieve state clean energy policies. The company does not\nhave an external emissions reduction goal, but notes that due to its \u201calready\nvery clean fleet, Exelon is not always perceived as achieving marginal\nreductions; Exelon\u2019s fleet\u2019s carbon intensity is already 90% lower than the\nindustry average.\u201d It further notes that through the combined efforts of all\nits companies, it \u201creduced, displaced or avoided nearly 100 million metric\ntons of U.S. electric sector emission each year from 2005 to 2020.\u201d\n\n##  WEC Energy Group\n\nMidwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nFloods/cyclones  |  N/A  |  $0  |  1-3 years   \nOther risks  |  |  |   \nVarying weather reducing demand for heating/cooling services  |  N/A  |  $0  |  1-3 years   \nLess demand for equipment due to increased energy efficiency  |  N/A  |  $0  |  1-3 years   \nEPA\u2019s Affordable Clean Energy (ACE) Rule  |  N/A  |  $0  |  3-6 years   \nNo guarantees on cost recovery related to ACE rule  |  N/A  |  $0  |  3-6 years   \nTransitioning to low-emission technologies  |  N/A  |  $0  |  3-6 years   \nFuture GHG regulations  |  N/A  |  $0  |  3-6 years   \nDecrease in electricity demand due to shift to customer-owned generation  |  N/A  |  $0  |  1-3 years   \n  \nSource: [ 2020 CDP filings\n](https://www.wecenergygroup.com/csr/cdp2020-climate-change.pdf)\n\n  * WEC did not provide potential financial impact figures for any of the eight risks it listed in its 2020 CDP report. For the extreme weather risk, it said that \u201cany of the described events could lead to substantial financial losses.\u201d For all the risks listed, it said, \u201ca quantitative estimate of the inherent financial impacts of the risk is not currently available.\u201d \n  * WEC similarly did not provide information on the cost of mitigation. For extreme weather, it said, \u201cWe assess and adjust for weather-related risks in our daily operations in order to improve reliability and resilience, safety, and customer satisfaction. We have not calculated the cost of management.\u201d \n  * Although it singles out EPA\u2019s Affordable Clean Energy rule as a potential risk, it said, \u201cthe rule is not expected to result in significant additional compliance costs, including capital expenditures, but may impact how we operate our existing fossil-fueled power plants and biomass facility.\u201d \n  * In terms of its response to extreme weather risks, WEC subsidiary Wisconsin Public Service is engaged in a multi-year system modernization and reliability project \u201cfocused on modernizing parts of its electricity distribution system by burying or upgrading lines.\u201d At the same time, subsidiary We Energies \u201cis upgrading its infrastructure and plans to rebuild hundreds of miles of electric distribution lines and replace thousands of poles and transformers.\u201d \n\nIn 2019, WEC Energy Group exceeded its 2030 goal of reducing carbon dioxide\nemissions 40% below 2005 levels. The company is now aiming to reduce CO2\nemissions from its electricity generation 70% below 2005 levels by 2030 and\nhave a net carbon neutral electric generation fleet by 2050. Early retirement\nof more than 1,800 MW of coal power helped WEC achieve its 2030 target early,\nthe company said in August. In addition, it plans to invest $900 million over\nthe next four years on more renewables to help achieve its emission reduction\ngoals.\n\n##  Xcel Energy\n\nMidwest\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nCyclones, floods, extreme weather  |  $0 - $40 million  |  $13.5 million  |  Unknown   \nChanges in precipitation  |  $0 - $5.5 million  |  $16.2 million  |  Unknown   \nOther risks  |  |  |   \nLoss from decreased load  |  $0 - $90 million  |  $5 million  |  Current   \nCarbon pricing  |  $95 million  |  $1.1 billion  |  5+ years   \n  \nSource: [ 2019 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=66216852&discloser_id=831609&locale=en&organization_name=Xcel+Energy+Inc.&organization_number=20839&program=Investor&project_year=2019&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F2019%2F9hz110bc%2F55837&survey_id=65670419)\n\n  * A single severe weather event such as a windy thunderstorm, cyclone or hail, would at a maximum cost Xcel $40 million, the company estimates, if restoration costs were not fully recoverable from its rate base. The utility\u2019s assets located on the Great Plains are especially susceptible to this kind of weather event, which represents a medium-magnitude risk. \n  * Mitigating the risk of such weather events comes through water management and infrastructure upgrades, among other things, and utilities are able to get rate recovery from storm damages based on evidence that the company acted in \u201cgood preventative faith.\u201d \n  * Droughts and water shortages also present risks to the utility\u2019s power plants that rely on water for cooling purposes as part of their operations. Though its Midwest territory is fairly humid, the utility\u2019s assets stretch down to the more arid West and Southwest, where water scarcity is becoming a greater concern. \n  * Alternative energy suppliers and residential-sited resources also present risks to the utility\u2019s load, along with energy efficiency, all of which are behavioral responses to rising climate concerns. Cost of managing this risk is calculated based on the manpower used to implement demand-side management and energy efficiency programs. \n\nXcel became the first major multi-state utility to commit to 100% carbon-free\nenergy by mid-century at the end of 2018. In January of this year, it decided\nto [ shutter one of its coal-fired plants a decade early\n](https://www.utilitydive.com/news/xcel-energy-plans-shutter-tolk-coal-\nplant-2032/570456/) , in part because of water scarcity concerns. The utility\nhas since said it doesn\u2019t expect water constraints to lead to the early\nretirement of any of its other plants, but Xcel is considered one of the\nhighest-risk utilities when it comes to water shortages, [ according to a\nJanuary Moody\u2019s report ](https://www.utilitydive.com/news/ameren-xcel-\ndominion-duke-among-most-at-risk-from-changing-climate-mood/570789/) . During\nthe company\u2019s Q4 earnings call, CEO Ben Fowke said [ seasonal operations of\nsome of its coal plants ](https://www.utilitydive.com/news/xcel-sees-\nopportunities-across-our-system-to-change-coal-operations-ceo/571522/) could\nalso help the utility mitigate some of its risks in more arid regions.\n\n##  Dominion Energy\n\nSoutheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nChanges in temperature, weather patterns  |  $917.8 million  |  $917.8 million  |  15-25 years   \nFloods/cyclones  |  $1.46 billion  |  $1.42 billion  |  15-25 years   \nOther risks  |  |  |   \nPolicy changes  |  $5.8 billion - $10.37 billion  |  $10.37 billion  |  Current   \n  \nSource: [ 2019 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=66216852&discloser_id=822528&locale=en&organization_name=Dominion+Energy&organization_number=4832&program=Investor&project_year=2019&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F2019%2F9hz110bc%2F45901&survey_id=65670419)\n\n  * Dominion Energy said extreme weather events could put all of its generation at risk, including solar and wind. A change in sea levels or sea temperatures would particularly impact utility operations along coastlines, such as the Cove Point LNG Terminal in Maryland. \n  * The utility calculated the cost for the first phase of its Grid Transformation Plan, filed in 2018, by adding the approximate capital investment for the plan for 2019-2021 ($816.3 million) and the proposed operations and maintenance expenses ($101.5 million), totaling $917.8 million. \n  * The utility plans to bury 4,000 miles of distribution lines by 2028, as part of a four-part Strategic Underground Program, that will cost $1.417 billion. The initiative will increase the ability of its distribution system in Virginia to withstand hurricanes and other extreme weather events. \n\nDominion responded with a slew of long-term planning models to represent\npolicy changes in Virginia, which would guide utility decarbonization efforts.\nThe company had established goals to add offshore wind off the coast of the\nstate and to increase renewable generation.\n\nDominion committed to adding 3 GW of renewable energy online or under\ndevelopment in Virginia within the next four years.\n\nDominion spun off some gas assets this summer, and canceled a major\nconstruction project it was leading with Duke Energy: the Atlantic Coast\nPipeline.\n\n##  Duke Energy\n\nSoutheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nFloods/cyclones  |  $11 billion  |  $11.6 billion  |  0-5 years   \nWater scarcity, drought  |  $14.6 million  |  $3.1 billion  |  5-11 years   \nOther risks  |  |  |   \nCO2 emissions regulations  |  $2.74 billion  |  $4.6 billion  |  5-11 years   \nCarbon pricing regulations  |  $465 million - $4.65 billion  |  $4.6 billion  |  5-11 years   \nReduction in available capital  |  $617 million  |  $4.6 billion  |  0-5 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=856622&locale=en&organization_name=Duke+Energy+Corporation&organization_number=5052&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F93042&survey_id=68887525)\n\n  * Duke Energy calculates the possibility of flooding and cyclones as a high-magnitude short-term risk. The total impact over the next decade was determined as up to ten times the damage caused by Hurricane Michael and Florence. \n  * Duke\u2019s inhouse Drought Mitigation Team monitors water levels and implements changes at impacted nuclear and coal-fired power plants to reduce drought-related risks. The cost of impact is calculated based on the idea that a nuclear plant, like the McGuire facility in North Carolina, might lose power for a week, and necessitate greater output from gas plants. \n  * Duke represents the cost of managing many climate-related risks as the capital cost of new resources for planned investments, which was lowered between the 2019 and 2020 CDP disclosure from $5.1 billion to $4.6 billion. \n\nDuke announced a [ net-zero by 2050 goal in the fall of 2019\n](https://www.utilitydive.com/news/lng-natural-gas-critical-for-duke-energy-\nutility-aims-renewables-100-carbon-free-power/563128/) , spurred by a number\nof stakeholders, including environmental organizations. Several substantial\nlong-term shareowners asked Duke in 2019 to set a net-zero by 2050 carbon\nemissions target and to publish transition plans.\n\nDuke announced plans to [ triple its renewable energy output by 2030\n](https://www.utilitydive.com/news/duke-vows-to-double-renewables-capacity-\nreach-net-zero-methane-emissions-b/586791/) and to retire 862 MW of coal by\n2024. Duke\u2019s gas operations are expected to reach net-zero methane emissions\nby 2030 by replacing pipelines and increasing the monitoring of\ninfrastructure.\n\n##  Entergy\n\nSoutheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nFloods/cyclones  |  N/A  |  $450 million  |  0-3 years   \nRising sea levels  |  N/A  |  N/A  |  0-3 years   \nChanges in precipitation patterns  |  N/A  |  N/A  |  0-3 years   \nOther risks  |  |  |   \nCarbon pricing mechanisms  |  N/A  |  N/A  |  10-30 years   \nEmissions reporting  |  N/A  |  $150,000  |  10-30 years   \nEmerging regulations  |  N/A  |  N/A  |  10-30 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=863552&locale=en&organization_name=Entergy+Corporation&organization_number=5653&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F93245&survey_id=68887525)\n\n  * Entergy\u2019s average proactive hardening costs annually are $450 million, investing in transmission hardening and elevating substations to mitigate flooding, preparing drills and business continuity practices for the 25 GW of generation it owns or leases. The utility also prioritizes investments in distribution assets by zones of aging or decay to restore, replace or treat equipment. \n  * Water availability is necessary to operations and revenues, and Entergy reduces the likelihood of the risks of changes to precipitation patterns through facility hardening, property insurance, water resource planning and other initiatives to build greater resilience for its operating companies and other assets, including its hydroelectric facilities. \n  * Entergy doesn\u2019t include in its direct costs the investments made in restoration projects for Louisiana\u2019s barrier islands and coastal wetlands, to promote greater resiliency in their service territory. Entergy\u2019s service area is susceptible to storm impacts \u201cpotentially made worse\u201d by rising sea levels and the loss of coastal wetlands. \n  * 2020 was Entergy\u2019s first CDP disclosure and did not provide financial impact figures or explanations for the full risks identified. \n\nIn 2019, Entergy set a commitment to reduce carbon emissions 50% below levels\nin 2000 by 2030. The company made voluntary greenhouse gas reports for over a\ndecade and continues to invest in emissions verification annually.\n\nThe company says it has reduced carbon dioxide emissions by 41% compared to\n2000 so far. The utility plans to continue retiring older, less efficient\nresources and add about 1 GW of solar generation and over 6 GW of combined\ncycle gas turbine generation.\n\n##  Southern Company\n\nSoutheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nCarbon pricing mechanisms  |  $1.76 billion  |  $6.4 billion  |  10-30 years   \nCustomers shift to distributed resources  |  $366 million  |  $425 million  |  10-30 years   \nCustomers prioritize energy efficiency  |  $4 billion  |  $6 million  |  2-10 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=854912&locale=en&organization_name=The+Southern+Company&organization_number=18951&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F87585&survey_id=68887525)\n\n  * Southern is wary of regulatory lag for rate adjustments if its subsidiaries, including Southern Company Gas, are required to invest in conservation measures which could result in reduced sales. \n  * The company does not identify the costs of any acute physical risks tied to climate change in its latest filing, while recognizing weather related impacts on its generation, transmission and distribution systems, and is investing in smart grid technologies and energy storage systems to mitigate impacts. In 2019, its gas business addressed record low temperatures in its northern Illinois distribution area by planning proactive service appointment scheduling ahead of the storm. \n  * While Southern doesn\u2019t disclose estimates for mitigation and recovery from extreme weather events, it conducts trainings for several programs to prepare employees for hurricane recovery, or to respond to tornadoes and ice storms. \n  * Southern assumes that if all existing residential homes served by the utility reduce energy use with the best technologies available, total revenue for the company would be about $3 billion, as opposed to $7 billion (the scenario under which energy efficiency is not implemented widely). The difference is what Southern has deemed as the high-level estimate impact of energy efficiency: $4 billion. \n\nThe company committed to transitioning to net zero emissions by 2050.\n\nSouthern\u2019s regulated utilities work in states with different incentives for\nclimate transitions, and has developed some clean energy resources in spite of\nnot having a state-based mandate for it, as in Georgia.\n\n##  Avangrid\n\nNortheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nIncreased severity, frequency of extreme weather events  |  $40 million  |  $40 million  |  0-1 year   \nChanges in precipitation patterns, variability in weather patterns  |  $12 million  |  N/A  |  1-5 years   \nOther risks  |  |  |   \nPotential regulation to support coal and nuclear plants  |  $3 million  |  $1 million  |  0-1 year   \nDecreased revenues due to reduced production capacity  |  N/A  |  $0  |  0-1 year   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=854545&locale=en&organization_name=Avangrid+Inc&organization_number=63724&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F94207&survey_id=68887525)\n\n  * Avangrid is looking at a mix of regulatory, physical and market-based risks, related to climate change, but says the \u201cactual financial impact is unpredictable.\u201d Weather events can have a significant impact but much depends on which facilities are affected. The costs to restore service and repair damaged facilities, obtain replacement power and access available financing sources, may not be recoverable from customers \u201cand could adversely affect our cash flows, results of operations and financial position,\u201d it says in its 2020 CDP filing. \n  * The utility sees climate risks in the energy markets, in the form of potential decreased revenues that would accompany any policy changes that support coal or nuclear plants. \u201cThis potential change in the energy market to support uneconomical facilities may distort the market prices,\u201d the utility said. \n  * Avangrid owns 7.4 GW of wind and solar, of which approximately 30% of the electricity generated is sold into wholesale markets. The utility says a $1/MWh decrease in the wholesale prices in the markets where Avangrid Renewables participates could have a negative impact on earnings of approximately $3 million in 2020. The company\u2019s strategy calls for increasing long-term contracts with commercial and industrial customers and reducing merchant exposure. \n\nIn October, Avangrid [ made a cash offer for PNM Resources\n](https://www.utilitydive.com/news/avangrid-pnm-resources-announce-83b-merger-\nto-create-one-of-biggest-cle/587450/) in a merger it says will create \u201cone of\nthe biggest clean energy companies\u201d in the United States. Avangrid Networks\ncurrently includes eight electric and natural gas utilities, serving 3.3\nmillion customers in New York and New England.\n\nAvangrid owns 1,900 MW of renewable energy and has a pipeline of 1,400 MW of\nrenewables assets in New Mexico and Texas. PNM Resources owns approximately\n2.8 GW of generation capacity and provides electricity in New Mexico and\nTexas. The merger with PNM could [ lead to the development of more renewables\n](https://www.utilitydive.com/news/avangrid-pnm-merger-can-advance-new-mexico-\nuntapped-renewable-energy/587602/) in New Mexico, say experts.\n\nAvangrid says it is \u201ccontinuously evaluating the regulatory risks and\nregulatory uncertainty presented by climate change,\u201d as such concerns \u201ccould\npotentially lead to additional rules and regulations that impact how we\noperate our business.\u201d The utility points to New York, where regulators\u2019\nReforming the Energy Vision proceeding has for years been reimagining the\nstate\u2019s energy system.\n\nWhile the end result of the REV process \u201cremains unclear,\u201d Avangrid said in\nits 2020 CDP filing, the proceeding \u201ccould alter the utility model in New York\nin a manner that could create material adverse impacts on our businesses and\noperations in New York.\u201d\n\nAvangrid has pledged to be [ carbon neutral by 2035\n](https://www.avangrid.com/wps/portal/avangrid/sustainability/environment/CarbonFootprints)\n.\n\n##  Liberty Utilities  (owned by Algonquin Power & Utilities)\n\nNortheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nIncreased likelihood and severity of wildfires  |  N/A  |  $0  |  0-1 year   \nIncreased severity, frequency of extreme weather events  |  N/A  |  $0  |  1-5 years   \nOther risks  |  |  |   \nDecreased revenues due to reduced production capacity  |  N/A  |  $0  |  1-5 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=855180&locale=en&organization_name=Algonquin+Power+%26+Utilities+Corporation&organization_number=524&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F96668&survey_id=68887525)\n\n  * Liberty Utilities sees the potential for high financial impacts from physical climate risks, but its 2020 CDP filing says \u201cwe currently do not have a financial impact figure assessed.\u201d \n  * Related to wildfires, Liberty sees the potential for increased insurance premiums and reduced availability of insurance on assets in \u2018high risk\u2019 locations. In addition, increased air temperatures could result in decreased efficiencies over time of both generation and transmission facilities. Extreme weather events create a risk of asset damage, and the increased frequency and severity of weather events \u201cincreases the likelihood that the duration of power outages and fuel supply disruptions could increase.\u201d \n  * Liberty also sees a risk that climate change impacts the output of its renewable generation facilities. Expected returns from both solar and wind assets \u201care based off current weather patterns,\u201d which climate change can modify. \n\nAlgonquin Power & Utilities describes itself as \u201ca growing renewable energy\nand utility company with assets across North America,\u201d operating through\nsubsidiaries Liberty Power and Liberty Utilities to deliver electricity and\ngas to customers in the United States and Canada. The company delivers\nelectricity to 267,000 customers and owns related generation assets in\nCalifornia, New Hampshire, Missouri, Kansas, Oklahoma and Arkansas.\n\nAlgonquin has a portfolio of long-term contracted wind, solar and\nhydroelectric generating facilities representing [ over 2 GW of installed\ncapacity ](http://investors.algonquinpower.com/file/Index?KeyFile=405452305)\nand more than 1.6 GW of incremental renewable energy capacity under\nconstruction. The company wants to reach [ 75% renewable generation capacity\nby 2023. ](http://algonquinpower.com/docs/APUC-Sustainability-Report-2020.pdf)\n\nThe utility has been taking steps to reduce its carbon footprint and add more\nemissions-free resources. Last year, it developed a [ storage program\n](https://www.utilitydive.com/news/designing-liberty-utilities-new-hampshire-\nresidential-storage-program/548940/) for utility-owned behind-the-meter\ncapacity in its New Hampshire territory. And this summer, Liberty dropped\nplans to construct the [ proposed Granite Bridge natural gas pipeline\n](https://www.nhpr.org/post/liberty-utilities-drops-plans-major-gas-pipeline-\nnh#stream/0) after concluding it could meet demand with existing\ninfrastructure.\n\n##  National Grid\n\nNortheast\n\nRisk calculated  |  Cost of impact  |  Cost of mitigation  |  Time frame   \n---|---|---|---  \nPhysical risks  |  |  |   \nFlood risk mitigation  |  $2.2 million - $111 million  |  $250 million  |  20-30 years   \nChanges in precipitation and extreme variability in weather patterns  |  N/A  |  $65,000  |  10-20 years   \nSevere weather impact on network resilience  |  N/A  |  $0  |  20-30 years   \nOther risks  |  |  |   \nMissing SF6 regulatory targets  |  $14.8 million  |  $1.55 million  |  10-20 years   \nIncreased legislation or a ban on the use of SF6  |  $19.46 million  |  $1.55 million  |  10-20 years   \nCarbon tax introduction  |  $124 million - $248 million  |  $288 million  |  0-10 years   \nExceeding the Massachusetts methane emissions cap (gas operations)  |  $3 million  |  $136 million  |  0-10 years   \n  \nSource: [ 2020 CDP filings\n](https://www.cdp.net/en/formatted_responses/responses?campaign_id=70692136&discloser_id=855754&locale=en&organization_name=National+Grid+PLC&organization_number=12832&program=Investor&project_year=2020&redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F6sc15v4h%2F90325&survey_id=68887525)\n\n  * Headquartered in London, National Grid reports CDP risk and mitigation measures in Great British Pounds. These estimates have been converted to U.S. dollars using a conversion rate of \u00a31 to $1.30. \n  * National Grid expects its largest climate mitigation cost will be to address increased severity and frequency of extreme weather events such as cyclones and floods. The utility says there is a risk it may either fail to mitigate adequately or to deal with the consequences of flooding, which could include loss of supply in both its gas and electricity networks leading to disruption to large numbers of energy users. Flood mitigation is primarily associated with its U.K. service territory. \n  * In Massachusetts, the utility sees a significant gap between the fines associated with exceeding methane leak targets on its gas network and the cost to prevent leaks from occurring. The utility has a plan to remove or replace leak prone pipes and in 2019 removed 65 miles from service in Massachusetts. \n\nNational Grid is based in the in U.K. but serves more than 20 million\ncustomers in New York, Rhode Island and Massachusetts. The utility is [ aiming\nfor net zero greenhouse gas emissions by 2050\n](https://www.utilitydive.com/news/with-hydrogen-as-lynchpin-strategy-\nnational-grid-joins-other-utilities-i/586386/) and recently said it supports\noverhauling the Northeast\u2019s wholesale electricity market design, transmission\nplanning process and the governance of its grid operator to advance\ndecarbonization efforts.\n\nThe utility\u2019s Net Zero by 2050 plan involves cutting emissions from the fuels\nand electricity it provides 20% by 2030. The utility is targeting 80% cuts to\nemissions from direct operations and power purchases by 2030.\n\n####  Methodology\n\nWhen selecting utilities to track, the Utility Dive team divided the United\nStates into five regions, per the approach taken by [ the National Geographic\n](https://www.nationalgeographic.org/maps/united-states-regions/) . We focused\non utilities within each region that had voluntarily made filings to the CDP\nin 2019 and 2020.\n\nSome utilities, such as Consolidated Edison, made their disclosure private and\nwe were not granted access by the company to view the filing. In addition,\nutility filings from 2020 might still reflect older data. For example,\nSacramento Municipal Utility District filed in 2020 using data from 2018.\n\nUtility estimates have been rounded to the 1,000s in the map or to the second\ndecimal place in instances where we show figures as amounts in \u201cbillions\u201d or\n\u201cmillions.\u201d\n\nWe tallied all of the risks related to climate change that utilities\nidentified through their CDP filings, taking note of the acute and chronic\nphysical risks, such as the impacts of extreme weather, as well as\ntransitional, marketing, reputation and other climate-related risks the\ncompanies identified.\n\nWhile we focused on information related to climate risks and impacts, CDP\nfilings encompass information about a broader array of risks. If a utility\ndoes not have estimates for a particular risk, it does not represent the\neffort or accuracy of its broader filing, which the CDP grades in an annual\nreport ranking global companies.\n\nRelated content\n\n####  [ Wildfires pushed PG&E into bankruptcy. Should other utilities be\nworried? ](https://www.utilitydive.com/news/wildfires-pushed-pge-into-\nbankruptcy-should-other-utilities-be-worried/588435/)\n\nBy Kavya Balaraman \u2022 Nov. 19, 2020\n\n####  [ Why capital markets are continuing to finance utilities facing rising\nflood and other climate change impacts ](https://www.utilitydive.com/news/why-\ncapital-markets-are-continuing-to-finance-utilities-facing-rising-\nflood/589171/)\n\nBy Iulia Gheorghiu \u2022 Nov. 20, 2020\n\n####  [ Ballot billions: Behind the efforts to fund and finance climate action\n](https://www.utilitydive.com/news/election-2020-ballots-climate-\naction/588067/)\n\nBy Kristin Musulin, Chris Teale and Cailin Crowe \u2022 Oct. 30, 2020\n\n####  [ Utilities don\u2019t see stranded assets as a top risk. Should they?\n](https://www.utilitydive.com/news/utilities-dont-see-stranded-assets-as-a-\ntop-risk-should-they/572246/)\n\nBy Catherine Morehouse \u2022 Feb. 14, 2020\n\nCredits\n\nDesign & development\n\n[ Nami Sumida ](https://industrydive.design/about/nami/)\n\nIllustration\n\n[ Danielle Ternes ](https://industrydive.design/about/danielle/)\n\n  * [ ](https://www.linkedin.com/shareArticle?mini=true&url=https%3A//www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/&title=Climate%20risks%20are%20accelerating.%20Here%27s%20what%20Duke%2C%20PG%26E%20and%2016%20other%20utilities%20expect%20to%20pay. \"Post\")\n  * [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A//www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/ \"Share\")\n  * [ ](https://twitter.com/intent/tweet?text=Climate%20risks%20are%20accelerating.%20Here%27s%20what%20Duke%2C%20PG%26E%20and%2016%20other%20utilities%20expect%20to%20pay.%20https%3A//www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/%20via%20@UtilityDive \"Post\")\n  * [ ](javascript:window.print\\(\\) \"Print\")\n  * [ ](/cdn-cgi/l/email-protection#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 \"Email\")\n  * [ purchase licensing rights  ](/selfservice/article-licensing/submit/?newspostUrl=https://www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/ \"License\")\n\n###  Editors' picks\n\n  * [ ](/news/us-electricity-demand-will-grow-50-by-2050-electrical-manufacturer-study/744575/)\n\nCourtesy of GE Vernova\n\n###  [ US electricity demand will grow 50% by 2050, electrical manufacturer\nstudy finds ](/news/us-electricity-demand-will-grow-50-by-2050-electrical-\nmanufacturer-study/744575/)\n\nData centers and transportation electrification will drive U.S. electricity\ndemand about 2% higher each year for the next quarter century, according to a\nnew analysis completed for the National Electrical Manufacturers Association.\n\nBy Robert Walton \u2022  April 7, 2025\n\n  * [ ](/news/nuclear-renaissance-capex-cost-smr-icf/743956/)\n\nCourtesy of Georgia Power\n\n###  [ US \u2018nuclear renaissance\u2019 faces high capital costs, uncertain federal\npolicy support: ICF ](/news/nuclear-renaissance-capex-cost-smr-icf/743956/)\n\nBringing new nuclear \u201cdown the cost curve\u201d requires design standardization and\ncontinued support from federal clean energy tax credits, the consultancy said\nin a white paper.\n\nBy Brian Martucci \u2022  March 31, 2025\n\n###  Utility Dive news delivered to your inbox\n\nGet the free daily newsletter read by industry experts\n\n##  Company Announcements\n\n[ View all ](/press-release/) | [ Post a press release ](/press-release/get-started/)\n\n[ The inaugural NatGas To Power Forum takes place Nov. 10-11, 2025, in San\nAntonio, TX - 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All rights reserved. | View our [ other publications ](https://www.industrydive.com/industries/) | [ Privacy policy ](https://www.techtarget.com/privacy-policy/) | [ Terms of use ](https://www.techtarget.com/terms-of-use/) | [ Take down policy ](https://www.industrydive.com/takedown-policy/) .   \nCookie Preferences / Do Not Sell\n\nThis website is owned and operated by Informa TechTarget, part of a global\nnetwork that informs, influences and connects the world's technology buyers\nand sellers. All copyright resides with them. Informa PLC's registered office\nis 5 Howick Place, London SW1P 1WG. Registered in England and Wales.\nTechTarget, Inc.'s registered office is 275 Grove St. Newton, MA 02466.\n\n",
                "url": "https://www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/"
            },
            "reason": "This is a reputable industry news source (Utility Dive) that reports on climate risks and energy usage within the utility sector. The article provides specific examples and data related to various utility companies.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' climate risk energy usage",
            "summary": "This article from Utility Dive discusses the accelerating climate risks and associated costs for utility companies like Duke and PG&E.",
            "url": "https://www.utilitydive.com/news/climate-risks-accelerating-heres-what-costs-duke-pge-and-16-other-utilities-expect/588860/"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "fe03148d-7937-4310-a62d-a6b3e5726d30",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.axiscapital.com/bermuda/who-we-are/corporate-citizenship/environment"
                },
                "page_content": "##  Protecting Our Planet\n\nClimate-related risks are among the most serious issues facing the world\ntoday. We believe that (re)insurers have an important role to play in\nmitigating climate risk and supporting the transition to a low-carbon economy.\n\nOur business\n\nOur business  Our operations  Our voice<\n\n  * Our business \n  * Our operations \n  * Our voice \n\n###  **Our Business**\n\n##  Supporting the transition to a  low carbon economy\n\nWe strive to help our customers tackle climate-related risks and\nopportunities. For example, as global specialists in renewable energy\ninsurance, we're actively supporting the transition to a low carbon economy\nand promoting the increased adoption of alternative energies.\n\nWe are proud to provide insurance products that cover the entire lifecycle of\nrenewable energy and energy transition projects, as well as to share our\nexpertise with customers and the wider industry. Effective April 1, 2024, AXIS\nstarted underwriting through AXIS Energy Transition Syndicate 2050 (\u201cS.2050\u201d),\nwhich offers a single access point to specialist insurance solutions for\ncross-class risks over the lifecycle of projects and activities associated\nwith replacing or displacing fossil fuels through lower-carbon alternatives\nand supporting energy resilience during the transition phase. In addition, we\nactively consider both climate-related risks and opportunities in our business\nacross a range of areas.\n\n[ Find out more about AXIS Renewables ](/bermuda/insurance/global-energy-\nresilience/renewable-energy)\n\nPlay Video\n\nWatch our S.2050 video\n\n####  **One of the world's biggest challenges**\n\n__\n\n##  Investing in the future\n\nOur support for the climate transition goes beyond our own products. AXIS is\nalso focused on providing capital in order to promote a sustainable future.\nWhile financial considerations are paramount, AXIS seeks to support building a\nmore sustainable future by providing capital for eco-friendly programs. AXIS\nhas committed $45 million to investments primarily focused on clean energy,\ninfrastructure, and the energy transition. In addition, AXIS integrates ESG\nconsiderations, including environmental factors, into its investment due\ndiligence process. In accordance with our ESG Investment Policy Statement,\nAXIS integrates ESG metrics, including compliance with AXIS' Fossil Fuel\nPolicy, into its investment evaluation as part of AXIS' manager scorecard\nprocess.\n\n[ Read our ESG Investment Policy Statement ](/docs/default-source/about-\naxis/axis-capital-esg-investment-policy-statement.pdf)\n\n##  Limiting fossil fuels\n\nRecognizing that the thermal coal and oil sands industries are particularly\ncarbon intense and contribute to climate change, we developed and implemented\na Fossil Fuel Policy limiting our exposure to these industries. We're\ncommitted to phasing out thermal coal business from our insurance,\nfacultative reinsurance and investment portfolios by 2030 in OECD countries\nand the EU, and by 2040 globally. We're also significantly limiting business\nrelated to oil sands and the Arctic National Wildlife Refuge. All risks and\ninvestments are evaluated against our Fossil Fuel policy. Read our policy\nbelow.\n\n[ Read our Fossil Fuel Policy ](/bermuda/who-we-are/corporate-\ncitizenship/fossil-fuel-policy)\n\n###  **Our Operations**\n\n##  Greenhouse gas emissions\n\nWe\u2019ve committed to a science-based aligned target of 50% absolute reduction of\nScope 1 and 2 greenhouse gas (GHG) emissions across our global operations by\n2030, using a 2019 baseline. By actively tracking our GHG emissions, we can\nuse the data to ensure we\u2019re on target and assess where we need to make\nchanges to mitigate our carbon footprint.\n\n####  Overall  \u2217\n\n|  2019 MT CO  2  e  |  2020 MT CO  2  e  |  2021 MT CO  2  e  |  2022 MT CO  2  e  |  2023 MT CO  2  e   \n---|---|---|---|---|---  \nScope 1 Emissions  |  270  |  283  |  232  |  132  |  69   \nScope 2 Emissions  |  4,043  |  2,383  |  2,109  |  2,033  |  1,851   \nScope 3 Emissions  |  5,315  |  1,400  |  908  |  2,621  |  3,210   \nBusiness Travel  |  5,227  |  1,183  |  678  |  2,433  |  3,012   \nDownstream Leased Assets  |  88  |  217  |  231  |  188  |  197   \nTotal GHG Emissions  |  **9,627** |  **4,066** |  **3,249** |  **4,786** |  **5,130**  \nEmissions Intensity  \nMT CO  2  e / Revenue (Millions)  |  **1.86** |  **0.84** |  **0.61** |  **0.93** |  **0.91**  \n  \n\u2217  As disclosed in the FY 2022 AXIS TCFD report, 2019-2021 Scope 1, 2 and 3\nnumbers were restated to remove Scope 1 emissions from fugitive refrigerants\nand Scope 3 emissions from employee commuting and waste due to immateriality\nas well as updated UK facility emissions. Click [ here ](/docs/default-\nsource/default-document-\nlibrary/previous_2019-2021_ghg_website_tables.pdf?sfvrsn=e5fbcf81_2) for\nbreakdown of previously stated numbers.\n\n####  2023 Additional Metrics\n\n|  Asia-Pacific  |  European Union  |  North America  (U.S., Canada, Bermuda)  |  United Kingdom  |  Total GHG Emissions   \n---|---|---|---|---|---  \nScope 1 Emissions  |  \\-  |  10  |  40  |  18  |  69   \nScope 2 Emissions  |  18  |  32  |  1,449  |  352  |  1,851   \nScope 3 Emissions  |  27  |  182  |  2,293  |  708  |  3,210   \nBusiness Travel  |  27  |  182  |  2,159  |  644  |  3,012   \nDownstream Leased Assets  |  n/a  |  n/a  |  134  |  64  |  197   \nTotal Emissions  |  **45** |  **224** |  **3,783** |  **1,079** |  **5,130**  \nTotal Energy Use  \u2217  (MWh)  |  **47** |  **296** |  **4,683** |  **1,234** |  **6,259**  \nTotal Electricity Use  \u2217  (MWh)  |  **47** |  **238** |  **3,588** |  **1,132** |  **5,004**  \n  \n\u2217  In 2023, AXIS had zero renewable consumption, 100% of AXIS energy and\nelectricity consumption was from non-renewable sources with 77% of consumed\nenergy from the grid.\n\n\u2217\u2217  \u201c-\u201c indicates true zero; n/a indicates not applicable or not specified.\n\n####  2022 Additional Metrics\n\n|  Asia-Pacific  |  European Union  |  North America  (U.S., Canada, Bermuda)  |  United Kingdom  |  Total GHG Emissions   \n---|---|---|---|---|---  \nScope 1 Emissions  |  \\-  |  40  |  69  |  23  |  132   \nScope 2 Emissions  |  14  |  33  |  1,633  |  353  |  2,033   \nScope 3 Emissions  |  57  |  160  |  1,926  |  478  |  2,621   \nBusiness Travel  |  57  |  160  |  1,801  |  415  |  2,433   \nDownstream Leased Assets  |  n/a  |  n/a  |  125  |  63  |  188   \nTotal 2022 GHG Emissions (MT CO  2  e)  |  **71** |  **233** |  **3,628** |  **853** |  **4,786**  \nTotal Energy Use  \u2217  (MWh)  |  **37** |  **447** |  **4,965** |  **1,301** |  **6,751**  \nTotal Electricity Use  \u2217  (MWh)  |  **37** |  **228** |  **3,940** |  **1,176** |  **5,381**  \n  \n\u2217  As disclosed in the FY 2022 AXIS TCFD report, 2019-2021 Scope 1, 2 and 3\nnumbers were restated to remove Scope 1 emissions from fugitive refrigerants\nand Scope 3 emissions from employee commuting and waste due to immateriality\nas well as updated UK facility emissions. Click [ here ](/docs/default-\nsource/default-document-\nlibrary/previous_2019-2021_ghg_website_tables.pdf?sfvrsn=e5fbcf81_2) for\nbreakdown of previously stated numbers.\n\n\u2217\u2217  In 2022, AXIS had zero renewable consumption. 100% of AXIS energy and\nelectricity consumption was from non-renewable sources with 80% of consumed\nenergy from the grid.\n\n\u2217\u2217\u2217  \"-\" indicates true zero; n/a indicated not applicable or not specified.\n\n####  2021 Additional Metrics\n\n|  Asia-Pacific  |  European Union  |  North America  (U.S., Canada, Bermuda)  |  United Kingdom  |  Unspecified  |  Total GHG Emissions   \n---|---|---|---|---|---|---  \nScope 1 Emissions  |  \\-  |  47  |  153  |  32  |  \\-  |  232   \nScope 2 Emissions  |  15  |  60  |  1,723  |  311  |  \\-  |  2,109   \nScope 3 Emissions  |  7  |  36  |  647  |  150  |  69  |  908   \nBusiness Travel  |  7  |  36  |  505  |  61  |  69  |  678   \nDownstream Leased Assets  |  n/a  |  n/a  |  142  |  89  |  n/a  |  231   \nTotal 2021 GHG Emissions (MT CO  2  e)  |  **22** |  **143** |  **2,523** |  **493** |  **69** |  **3,249**  \n  \n\u2217  As disclosed in the FY 2022 AXIS TCFD report, 2019-2021 Scope 1, 2 and 3\nnumbers were restated to remove Scope 1 emissions from fugitive refrigerants\nand Scope 3 emissions from employee commuting and waste due to immateriality\nas well as updated UK facility emissions. Click [ here ](/docs/default-\nsource/default-document-\nlibrary/previous_2019-2021_ghg_website_tables.pdf?sfvrsn=e5fbcf81_2) for\nbreakdown of previously stated numbers.\n\n\u2217\u2217\u2217  \"-\" indicates true zero; n/a indicated not applicable or not specified.\n\n####  2020 Additional Metrics\n\n|  Asia-Pacific  |  European Union  |  Middle East  |  North America  (U.S., Canada, Bermuda)  |  United Kingdom  |  Unspecified  |  Total GHG Emissions   \n---|---|---|---|---|---|---|---  \nScope 1 Emissions  |  \\-  |  42  |  \\-  |  219  |  22  |  \\-  |  283   \nScope 2 Emissions  |  15  |  57  |  1  |  2,049  |  262  |  \\-  |  2,383   \nScope 3 Emissions  |  20  |  75  |  \\-  |  743  |  227  |  118  |  1,183   \nBusiness Travel  |  20  |  75  |  \\-  |  879  |  308  |  118  |  1,400   \nDownstream Leased Assets  |  n/a  |  n/a  |  n/a  |  137  |  81  |  n/a  |  217   \nTotal 2020 GHG Emissions (MT CO  2  e)  |  **35** |  **174** |  **1** |  **3,147** |  **592** |  **118** |  **4,066**  \n  \n\u2217  As disclosed in the FY 2022 AXIS TCFD report, 2019-2021 Scope 1, 2 and 3\nnumbers were restated to remove Scope 1 emissions from fugitive refrigerants\nand Scope 3 emissions from employee commuting and waste due to immateriality\nas well as updated UK facility emissions. Click [ here ](/docs/default-\nsource/default-document-\nlibrary/previous_2019-2021_ghg_website_tables.pdf?sfvrsn=e5fbcf81_2) for\nbreakdown of previously stated numbers.\n\n\u2217\u2217  \"-\" indicates true zero; n/a indicated not applicable or not specified.\n\n####  2019 Additional Metrics\n\n|  Asia-Pacific  |  European Union  |  Middle East  |  North America  (U.S., Canada, Bermuda)  |  United Kingdom  |  Unspecified  |  Total GHG Emissions   \n---|---|---|---|---|---|---|---  \nScope 1 Emissions  |  \\-  |  51  |  \\-  |  174  |  45  |  \\-  |  270   \nScope 2 Emissions  |  23  |  110  |  1  |  3,289  |  620  |  \\-  |  4,043   \nScope 3 Emissions  |  180  |  799  |  \\-  |  2,980  |  1,081  |  275  |  5,315   \nBusiness Travel  |  180  |  799  |  \\-  |  2,980  |  994  |  275  |  5,227   \nDownstream Leased Assets  |  n/a  |  n/a  |  n/a  |  n/a  |  88  |  n/a  |  88   \nTotal 2019 GHG Emissions (MT CO  2  e)  |  **203** |  **959** |  **1** |  **6,443** |  **1,746** |  **275** |  **9,627**  \n  \n\u2217  As disclosed in the FY 2022 AXIS TCFD report, 2019-2021 Scope 1, 2 and 3\nnumbers were restated to remove Scope 1 emissions from fugitive refrigerants\nand Scope 3 emissions from employee commuting and waste due to immateriality\nas well as updated UK facility emissions. Click [ here ](/docs/default-\nsource/default-document-\nlibrary/previous_2019-2021_ghg_website_tables.pdf?sfvrsn=e5fbcf81_2) for\nbreakdown of previously stated numbers.\n\n\u2217\u2217  \"-\" indicates true zero; n/a indicated not applicable or not specified.\n\n  * Overall \n  * 2023 Additional Metrics \n  * 2022 Additional Metrics \n  * 2021 Additional Metrics \n  * 2020 Additional Metrics \n  * 2019 Additional Metrics \n\n###  **Our Voice**\n\n##  Industry initiatives\n\nWe are committed to using our voice to advocate on climate issues and are\nproud and active participants in relevant initiatives.\n\nMember of the IDF, a partnership between the United Nations, the World Bank\nand members of the insurance industry.\n\nMember of the Geneva Association, the international think tank of the\ninsurance industry.\n\nPartnership with the University of Illinois Gies College of Business to\nsupport students interested in the (re)insurance industry and faculty members\nwho address a variety of topics, including climate.\n\n##  Climate research reports\n\nAXIS has a longstanding commitment to promote research and education in areas\nrelevant to the insurance industry and provide a platform to address areas\nlike climate risk.\n\n[ See more ](/bermuda/tools/climate-risk-reports-with-air-worldwide-and-\nbrookings-experts)\n\n###  **Announcements & Updates **\n\n##  Related articles\n\n####  **AXIS published climate research report \u201cNavigating Risk in the Energy\nTransition\"**\n\nAXIS Report: How Risks Including Climate Change, Economic Uncertainty, and\nInvestor Hesitancy Around Tech Innovation are Impacting the Energy Transition\n\n[ **Read more** ](https://axiscapital.foleon.com/thought-\nleadership/navigatingrisk/)\n\n####  **AXIS receives Inside P &C Honors award for ESG Initiative of the Year\n**\n\nAXIS receives Inside P&C Honors award for ESG Initiative of the Year for our\nGreenhouse Gas Reduction Goals\n\n[ **Read more** ](/bermuda/who-we-are/awards)\n\n####  **AXIS Signs Armed Forces Covenant in the UK**\n\nAXIS has become a signatory to the Armed Forces Covenant, which aims to ensure\nmembers of the UK armed forces community have access to products, services and\nemployment opportunities equal to any other citizen in the UK\n\n[ **Read more** ](https://investor.axiscapital.com/press-releases/news-\ndetails/2023/AXIS-Signs-Armed-Forces-Covenant-in-the-\nUK-2023-hIkfskHqN-/default.aspx)\n\n###  Find out more about Corporate Citizenship\n\n[ Find out more ](/bermuda/who-we-are/corporate-citizenship)\n\n###  **Connect With Us**\n\n##  See how we can help you and your customers  navigate and manage risk in an\nuncertain world\n\n[ Contact Us ](/bermuda/contact-us)\n\n[ Broker Resources ](/bermuda/tools/broker-resource-center)\n\n* * *\n\n[ ](https://www.linkedin.com/company/axis-capital/) [\n](https://twitter.com/AXIS_Capital)\n\n\u00a9 2025 AXIS Capital. All right reserved.\n\nProduct information on this website is for descriptive purposes only and does\nnot provide a complete summary of coverage, and is intended for use by\nlicensed insurance producers. It is not an offer to sell, or a solicitation to\nbuy, any insurance product for a particular insured. Policy terms, conditions\nor exclusions may vary. Coverage may not be available in all jurisdictions and\nis subject to underwriting. Consult the applicable insurance policy for\nspecific terms, conditions, limits, limitations, and exclusions. No insurance\nproduct is offered or will be sold in any jurisdiction in which such offer or\nsolicitation would be unlawful. Coverage is underwritten by one or more\nsubsidiaries of AXIS Capital Holdings Limited.\n\nentire site\n\n  * entire site \n  * insurance \n  * reinsurance \n\nSolutions\n\nmore results\n\nPeople\n\nmore results\n\nResources\n\nmore results\n\nNews & More\n\nmore results\n\n(0) results\n\nPlease try another search term our browse our  insurance  and  reinsurance\nsolutions.\n\n#  Meet the team\n\n[ __ ]() [ __ ]()\n\nScan code with your smartphone camera\n\nTap to add to your contacts\n\n[ Download .VCF Contact Card  ]()\n\n[ __ ]() [ __ ]()\n\nScan code with your smartphone camera\n\nTap to add to your contacts\n\n[ Download .VCF Contact Card  ]()\n\n[ ]()\n\nBundle\n\nAxis Financial Information\n\n[ ]() [ ]() [ Email  ]()\n\n[ ]() [ AXIS Capital Q1 2018 Financial Report ]() [ 2017 Annual Report ]() [\nAXIS Capital to Acquire Novae Webcast ]()\n\n",
                "url": "https://www.axiscapital.com/bermuda/who-we-are/corporate-citizenship/environment"
            },
            "reason": "This is the official website of Axis Capital, and the page discusses their environmental initiatives and corporate citizenship. While it presents a potentially biased view, it offers insights into their environmental policies and actions.",
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            "search_query": "company 'N/A' climate risk energy usage",
            "summary": "This page details Axis Capital's environmental initiatives and corporate citizenship efforts.",
            "url": "https://www.axiscapital.com/bermuda/who-we-are/corporate-citizenship/environment"
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                "page_content": "##\n\n404 - _Not Found_\n\n* * *\n\n\u00a9 Novo Nordisk\n\n",
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            "summary": "This is Novo Nordisk's ESG data report for 2022.",
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                    "source": "https://www.efficiencymaine.com/at-home/water-heating-solutions/heat-pump-water-heaters/"
                },
                "page_content": "  * [ 866-376-2463 ](tel:8663762463)\n  * [ Contact ](/about/contact/)\n  * [ ](https://www.facebook.com/EfficiencyMaine/)\n  * Search \n\n[ ](https://www.efficiencymaine.com/ \"Efficiency Maine\") Search  Menu\n\n  * [ At Home ](https://www.efficiencymaine.com/at-home/)\n    * Solutions \n      * [ Appliances ](https://www.efficiencymaine.com/appliance-solutions/)\n      * [ Batteries ](https://www.efficiencymaine.com/batteries/)\n      * [ Electric Vehicles ](https://www.efficiencymaine.com/electric-vehicles/)\n      * [ Heating and Cooling ](https://www.efficiencymaine.com/heating-solutions/)\n      * [ Insulation ](https://www.efficiencymaine.com/home-insulation/)\n      * [ Lighting ](https://www.efficiencymaine.com/at-home/lighting-solutions/)\n      * [ Renewables ](https://www.efficiencymaine.com/renewable-energy/)\n      * [ Water Heating ](https://www.efficiencymaine.com/at-home/water-heating-solutions/)\n    * [ Incentives ](/)\n      * [ 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They\u2019re popular\nbecause they produce lots of hot water, help dehumidify, and can save more\nthan $500 per year in electricity.*\n\n[ PAY AS LITTLE AS $399 ](/at-home/heat-pump-water-heater-program/)\n\nHeat pump water heaters work like air conditioners, but rather than moving\nheat from the room to the outdoors, they move heat from the room into the\nwater tank.\n\nHeat pump water heaters are sometimes called \u201chybrids\u201d because in addition to\na heat pump, they have traditional electric resistance heating elements for\ntimes when demand exceeds what the heat pump can produce.\n\n##  Financial Example\n\n|  Traditional Electric  \nWater Heater  |  Heat Pump   \nWater Heater  |  Savings   \n---|---|---|---  \nWarranty  |  6 years  |  10 years  |   \nCapacity  |  40 gallons  |  50 gallons  |   \nRetail Price  |  $434  |  $1,399  |   \nInstant Discount  |  n/a  |  -$950  |   \nCost Before Tax Credit  |  $434  |  $449  |   \nFederal Tax Credit (30%)  |  $0  |  -$135  |   \nFinal Purchase Cost  |  $434  |  $314  |  $120   \nAnnual Electricity Cost ($/year)*  |  $792  |  $214  |  $578   \n  \n##  Benefits\n\n  1. They produce lots of hot water. \n  2. They can save more than $5,000 over the life of the unit compared to traditional electric water heaters.* \n  3. They typically have 10+ year warranties. \n  4. They help dehumidify. \n\n* Compared to a traditional electric water heater as shown on [ Efficiency Maine\u2019s Compare Water Heating Costs ](/at-home/water-heating-cost-comparison/) calculator as of 1/30/2025. Your cost and savings may vary. \n\n##  Take Action\n\n  * If your electric water heater is more than ten years old, replace it now while incentives are available. Don\u2019t wait for it to break. \n  * Install a heat pump water heater yourself or use our online tool to find a [ participating installer ](/at-home/vendor-locator/) . \n\n##  Things to Consider\n\n  1. Because of their noise and cooling effect, heat pump water heaters are better suited to basements than living spaces. \n  2. They complement, but do not replace, dehumidifiers because they operate based on hot water demand not humidity levels. \n  3. Condensate from the heat pump water heater must be drained, usually to a sink, drain, sump pump pit, etc. \n  4. For optimum efficiency, install units in 10\u2019 x 10\u2019 or larger rooms with temperatures above 35\u00b0F. \n  5. Recommended clearances from walls and ceilings should be followed to ensure adequate air circulation and access. \n  6. Insulate the first few feet of incoming and outgoing pipe to minimize heat loss. \n  7. Air filters should be rinsed regularly. \n\n####  Water Heating\n\n  * [ About Heat Pump Water Heaters ](https://www.efficiencymaine.com/at-home/water-heating-solutions/heat-pump-water-heaters/)\n  * [ Incentives ](https://www.efficiencymaine.com/at-home/heat-pump-water-heater-program/)\n  * [ Savings Calculator ](https://www.efficiencymaine.com/at-home/water-heating-cost-comparison/)\n  * [ Find an Installer ](https://www.efficiencymaine.com/at-home/vendor-locator/)\n  * [ Best Prices in Maine ](https://www.efficiencymaine.com/docs/EM-HPWH-Instant-Rebate-Locations.pdf)\n  * [ $950 Mail-In Rebate Claim Form ](https://www.efficiencymaine.com/docs/HPWH_Rebate.pdf#page=2)\n  * [ User Tips ](https://www.efficiencymaine.com/docs/EM_HPWH_User_Tips.pdf)\n  * [ Frequently Asked Questions ](https://www.efficiencymaine.com/docs/Heat_Pump_Water_Heater_FAQs_Brochure.pdf)\n  * [ Guide to Water Heating ](https://www.efficiencymaine.com/docs/EM-Guide-to-Water-Heating.pdf#2)\n  * [ Plumber Testimonials ](https://www.efficiencymaine.com/docs/EM-HPWH-Plumber-Testimonials.pdf)\n\n####  Learn More\n\n  * [ At Home ](https://www.efficiencymaine.com/at-home/)\n  * [ At Work ](https://www.efficiencymaine.com/at-work/)\n  * [ Resources ](https://www.efficiencymaine.com/energyinformation/resources-for-homeowners/)\n\n####  Efficiency Maine\n\n  * [ Sitemap ](https://www.efficiencymaine.com/sitemap/)\n  * [ Privacy Policy ](https://www.efficiencymaine.com/efficiency-maine-trust-privacy-policy/)\n  * [ Careers ](https://www.efficiencymaine.com/careers/)\n  * [ About ](https://www.efficiencymaine.com/about/)\n\n####  Connect\n\n  * [ 866-376-2463 ](tel:8663762463)\n  * [ INFO@EFFICIENCYMAINE.COM ](mailto:info@efficiencymaine.com)\n  * [ MAILING ADDRESS ](https://www.efficiencymaine.com/about/contact/)\n\n####  SUBSCRIBE TO EFFICIENCY MAINE EMAILS\n\nClick to choose which notifications to receive via email.\n\n[ Subscribe ](/about/newsletter-signup/)\n\n\u00a92025 EFFICIENCY MAINE\n\n",
                "url": "https://www.efficiencymaine.com/at-home/water-heating-solutions/heat-pump-water-heaters/"
            },
            "reason": "This is the official website of Efficiency Maine, a program dedicated to energy efficiency. It provides factual information and resources related to heat pump water heaters.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official website of Efficiency Maine providing information on heat pump water heaters.",
            "url": "https://www.efficiencymaine.com/at-home/water-heating-solutions/heat-pump-water-heaters/"
        },
        {
            "content": {
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                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.energy.gov/lpo/portfolio-projects"
                },
                "page_content": "Skip to main content\n\n**Official websites use .gov**  \nA **.gov** website belongs to an official government organization in the\nUnited States.\n\n**Secure .gov websites use HTTPS**  \nA **lock** (  ) or **https://** means you\u2019ve safely connected to the .gov\nwebsite. Share sensitive information only on official, secure websites.\n\n#  PORTFOLIO PROJECTS\n\n_** NOTE: Loan Amounts on this page represent the approximate amount of the\napproved loan at closing (or, for active conditional commitments, at time of\nconditional commitment announcement), including principal and any capitalized\ninterest. For conditional commitments, loan amounts are subject to the\napplicant reaching critical milestones and subject to the completion of\ncertain technical, legal, and financial conditions that must be satisfied\nbefore DOE enters into definitive financing documents and funds the loan. Note\nthat in making an obligation of use of loan authority, DOE does not include\ncapitalized interest in those amounts. For fully repaid loans, information is\nup-to-date as of the date of loan repayment. DOE ceases monitoring projects\nupon full repayment._\n\n**INACTIVE CONDITIONAL COMMITMENTS**\n\nThe following projects were made inactive after the Department of Energy\noffered a conditional commitment for a loan or loan guarantee:\n\n  * Alcoa \n  * American Battery Solutions \n  * Cape Wind \n  * Eagle Rock \n  * Lake Charles Methanol \n\n**DISCONTINUED PROJECTS**\n\nThe following discontinued projects received proceeds of a loan or a loan\nguarantee from the Department of Energy, but are considered discontinued by\nLPO for one of several reasons, including (among others) termination of the\nloan or loan guarantee, borrower bankruptcy protection filing, or sale (or\nanticipated sale) of the guaranteed note. Projects considered discontinued by\nLPO are not included in our reports regarding MWs produced, greenhouse gases\navoided, annual gasoline displaced, or jobs created.\n\n  * Abound Solar \n  * Alamosa \n  * Crescent Dunes \n  * Fisker \n  * Solyndra \n  * Stephentown Spindle \n  * VPG \n\n**PROJECTS THAT CLOSED ON LOANS BUT RECEIVED NO DISBURSEMENT**\n\nThe following projects closed on a loan or loan guarantee from the Department\nof Energy, but never received proceeds from a loan or loan guarantee.\n\n  * 1366 Technologies, Inc. \n  * AES Energy Storage Westover, LLC \n  * POET Project Liberty, LLC \n  * ProSun Project Company, LLC (Project AMP) \n  * SoloPower, Inc. \n\nFollow Us\n\n[ __ Link to Facebook  ](https://www.facebook.com/energy) [ __ Link to\nInstagram  ](https://www.instagram.com/energy) [ __ Link to Linkedin\n](https://www.linkedin.com/company/u-s--department-of-energy) [ __ Link to\nYoutube  ](https://www.youtube.com/user/USdepartmentofenergy) [ __ Link to X\n](https://twitter.com/energy) [ __ Link to Flickr\n](https://www.flickr.com/photos/departmentofenergy/)\n\nSubscribe To Our Newsletter\n\n",
                "url": "https://www.energy.gov/lpo/portfolio-projects"
            },
            "reason": "This is a U.S. Department of Energy website, a highly reliable source for information on energy projects and initiatives.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "U.S. Department of Energy website detailing portfolio projects.",
            "url": "https://www.energy.gov/lpo/portfolio-projects"
        },
        {
            "content": {
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                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.nyc.gov/site/buildings/property-or-business-owner/energy-grades.page"
                },
                "page_content": "[ ](http://www1.nyc.gov) Buildings  [ 311 ](/311/index.page) [ Search all\nNYC.gov websites ](/home/search/index.page)\n\nMenu\n\n[ ](/site/buildings/index.page)\n\n[ Text-Size ](http://www1.nyc.gov/home/text-size.page)\n\nSearch\n\n[ Working on Your Project ](/site/buildings/property-or-business-\nowner/working-on-your-project.page) [ Resolving Issues\n](/site/buildings/property-or-business-owner/resolving-issues.page) [ Info for\nProperty Owners ](/site/buildings/property-or-business-owner/info-for-\nproperty-owners.page) [ Info for Business Owners ](/site/buildings/property-\nor-business-owner/info-for-business-owners.page)\n\n  * [ Maintaining Your Property ](/site/buildings/property-or-business-owner/property-maintenance.page)\n  * [ TPP Info for Owners ](/site/buildings/property-or-business-owner/tpp-info-for-owners.page)\n  * [ NYC Loft Board for Owners ](/site/buildings/property-or-business-owner/nyc-loft-board-for-owners.page)\n  * [ Energy Grades ](/site/buildings/property-or-business-owner/energy-grades.page)\n\nShare\n\nPrint\n\n#  Energy Grades\n\n[ Local Law 33 of 2018 ](/assets/buildings/local_laws/ll33of2018.pdf) amended\nthe Administrative Code of the City of New York in relation to energy\nefficiency scores and grades for buildings required to benchmark their energy\nand water consumption. These energy efficiency scores and grades for these\nbuildings are assigned and disclosed in accordance with the new section\n\u00a728-309.12 annually, based on benchmarking reporting consistent with Federal\nenergy efficiency standards.\n\nAn energy efficiency score is the Energy Star Rating that a building earns\nusing the United States Environmental Protection Agency online benchmarking\ntool, Energy Star Portfolio Manager, to compare building energy performance to\nsimilar buildings in similar climates. As per [ Local Law 95 of 2019\n](/assets/buildings/local_laws/ll95of2019.pdf) grades based on Energy Star\nenergy efficiency scores will be assigned as follows:\n\n**A** \u2013 score is equal to or greater than 85\n\n**B** \u2013 score is equal to or greater than 70 but less than 85\n\n**C** \u2013 score is equal to or greater than 55 but less than 70\n\n**D** \u2013 score is less than 55\n\n**F** \u2013 for buildings that didn\u2019t submit required benchmarking information\n\n**N** \u2013 for buildings exempted from benchmarking or not covered by the Energy\nStar program.\n\nThe energy label includes both a letter grade and the energy efficiency score\nof the building. Please reference the following document for more information\n[ Local Law 33 as amended by LL95 of 2019 Steps to Compliance\n](/assets/buildings/pdf/ll33_compliance_steps.pdf) .\n\n##  Additional Information\n\n  * For more details and to start the benchmarking process, please reference the [ Local Law 33 as amended by LL95 of 2019 Steps to Compliance ](/assets/buildings/pdf/ll33_compliance_steps.pdf) , [ LL33 - Frequently Asked Questions ](/assets/buildings/pdf/ll33_faqs.pdf) , and visit the [ Compliance Instructions ](/site/buildings/codes/compliance-instructions.page) page. \n\n  * The status of a violation can be found online by using the Department\u2019s [ Building Information System (BIS) ](http://a810-bisweb.nyc.gov/bisweb/bispi00.jsp) at any time. To follow up by email, please send inquiries to **sustainability@buildings.nyc.gov** with the BBL, BIN, address and violation number for the building. \n\n  * If you believe a violation was issued in error, you may submit a [ Benchmarking Violation Challenge Form ](/assets/buildings/pdf/benchmarking_challenge_form.pdf) . This form **must** be sent to the Department within 30 days of the violation postmark. Email the form to **sustainability@buildings.nyc.gov** . \n\n  * To follow up on a challenge, please call the email **sustainability@buildings.nyc.gov** . \n\n##  Additional Resources\n\n  * [ NYC Mayor's Office of Sustainability ](https://climate.cityofnewyork.us/)\n\n  * [ Energy Star Portfolio Manager ](https://portfoliomanager.energystar.gov/pm/login.html)\n\n  * [ DOF Benchmarking Website ](http://www1.nyc.gov/site/finance/taxes/property-reports/nyc-energy-benchmarking-report.page)\n\n[ Directory of City Agencies ](/nyc-resources/agencies.page) [ Contact NYC\nGovernment ](/home/contact-us.page) [ City Employees\n](https://a127-ess.nyc.gov) [ Notify NYC\n](https://a858-nycnotify.nyc.gov/notifynyc/) [ CityStore\n](https://a856-citystore.nyc.gov/) [ Stay Connected ](/connect/social-\nmedia.page) [ NYC Mobile Apps ](/connect/mobile-applications.page) [ Maps\n](/nyc-resources/nyc-maps.page) [ Resident Toolkit ](/nyc-resources/resident-\ntoolkit.page)\n\nNYC\n\nCity of New York. 2025 All Rights Reserved,\n\nNYC is a trademark and service mark of the City of New York\n\n[ Privacy Policy. ](/home/privacy-policy.page \"Privacy Ploicy \") [ Terms of\nUse. ](/home/terms-of-use.page \"Terms of Use\") [ ](https://www.nyc.gov/nyc-\nresources/website-accessibility-statement.page)\n\n",
                "url": "https://www.nyc.gov/site/buildings/property-or-business-owner/energy-grades.page"
            },
            "reason": "This is the official website for the New York City Department of Buildings, providing information on energy efficiency grades for buildings in NYC.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official NYC government website on building energy grades.",
            "url": "https://www.nyc.gov/site/buildings/property-or-business-owner/energy-grades.page"
        },
        {
            "content": {
                "metadata": {
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                    "resource_type": "webpage",
                    "source": "https://www.nationalfuel.com/utility/about-the-rebate-program/"
                },
                "page_content": "Back\n\nPayment & Meter  Start or Stop Service  [ Gas Planning\n](https://www.nationalfuel.com/utility/gas-planning-process/) Convert to Gas\nNatural Gas Supplier  Efficiency Programs  [ Safety & Gas Emergencies\n](https://www.nationalfuel.com/utility/gas-safety/) Payment & Meter  Start or\nStop Service  Natural Gas Supplier  Energy Efficiency and Equipment  [ Gas\nPlanning Process ](https://www.nationalfuel.com/utility/gas-planning-process/)\n[ Safety & Gas Emergencies ](https://www.nationalfuel.com/utility/gas-safety/)\nPayment & Meter  Start or Stop Service  Convert to Natural Gas  Natural Gas\nSuppliers  [ Safety & Gas Emergencies\n](https://www.nationalfuel.com/utility/gas-safety/) Payment & Meter  Start or\nStop Service  Natural Gas Suppliers  Energy Efficiency and Equipment  [ Safety\n& Gas Emergencies ](https://www.nationalfuel.com/utility/gas-safety/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/your-account-\noverview-ny-home/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-ny-home-biz/) [ Payment\nPlan Options ](https://www.nationalfuel.com/utility/payment-plan-options-ny-\nhome-business/) [ Understanding Your Bill\n](https://www.nationalfuel.com/utility/your-account-overview-ny-\nhome/understanding-your-bill-ny-home-biz/) [ Rights & Responsibilities\n](https://www.nationalfuel.com/utility/your-account-overview-ny-home/rights-\nand-responsibilities-ny-home/)\n\nPayment Assistance\n\n[ Program Overview ](https://www.nationalfuel.com/utility/payment-assistance-\nprograms/) [ HEAP Overview ](https://www.nationalfuel.com/utility/payment-\nassistance-programs/heap-overview/) [ HEAP How to Apply\n](https://www.nationalfuel.com/utility/payment-assistance-programs/how-to-\napply/) [ HEAP Locations ](https://www.nationalfuel.com/utility/payment-\nassistance-programs/heap-locations/) [ Neighbor for Neighbor\n](https://www.nationalfuel.com/utility/payment-assistance-programs/neighbor-\nfor-neighbor/) [ Special Protections\n](https://www.nationalfuel.com/utility/payment-assistance-programs/special-\nprotections/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Understanding\nShared Meters ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/understanding-shared-meters-ny-home-business/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-ny-home-business/meter-faqs-\nny-home-biz/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-ny-home/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-ny-home/)\n\n[ Start Service with New Line Installation\n](https://www.nationalfuel.com/utility/start-service-with-line-installation/)\n\n[ Start Service with an Existing Line\n](https://www.nationalfuel.com/utility/start-service-with-an-existing-line-ny-\nhome/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-ny-\nhome-business/)\n\n[ Request Rental Billing History\n](https://www.nationalfuel.com/utility/request-rental-billing-history/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Gas Planning\n\n[ Gas Planning Process ](https://www.nationalfuel.com/utility/gas-planning-\nprocess/)\n\n[ Non-Pipe Alternatives ](https://www.nationalfuel.com/utility/gas-planning-\nprocess/non-pipe-alternatives/)\n\n####  Convert to Gas\n\n[ Convert to Gas Overview ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/)\n\n[ New Customer Conversion ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/new-customer-conversion-ny-home/)\n\n[ Existing Customer Conversion ](https://www.nationalfuel.com/utility/convert-\nto-natural-gas-ny-home/existing-customer-conversion-ny-home/)\n\n[ Conversion Checklist ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/conversion-checklist-ny-home/)\n\n[ Conversion FAQs ](https://www.nationalfuel.com/utility/convert-to-natural-\ngas-ny-home/conversion-faq-ny-home/)\n\n[ Conversion Calculator ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/conversion-calculator/)\n\n####  Natural Gas Supplier\n\n[ Supplier Overview ](https://www.nationalfuel.com/utility/choosing-a-\nsupplier-ny-home/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/choosing-a-supplier-ny-\nhome/supplier-faqs-ny-home-biz/)\n\n[ Consumer Protection ](https://www.nationalfuel.com/utility/consumer-\nprotection-ny-home-business/)\n\n[ Power to Choose ](https://documents.dps.ny.gov/PTC/home)\n\n[ Community Choice Aggregation\n](https://www.nationalfuel.com/utility/community-choice-aggregation/)\n\n####  Efficiency Programs\n\n[ About the Rebate Program ](https://www.nationalfuel.com/utility/about-the-\nrebate-program/)\n\n[ Get Your Rebates ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/get-your-rebates-ny-home/)\n\n[ Program for Contractors ](https://www.nationalfuel.com/utility/about-the-\nrebate-program/for-contractors-ny-home-biz/)\n\n[ Other Programs ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/other-programs-ny-home/)\n\n[ Affordable Multifamily Energy Efficiency Program\n](https://www.nationalfuel.com/utility/affordable-multifamily-energy-\nefficiency-program/)\n\n[ EmPower+ ](https://www.nationalfuel.com/utility/empower-liurp-ny-home/)\n\n[ FAQ ](https://www.nationalfuel.com/utility/about-the-rebate-program/energy-\nefficiency-rebate-program-faqs-ny-home-biz/)\n\n[ Contact Us ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/energy-efficiency-rebate-contact-us/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/account-\noverview-ny-business/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-ny-home-biz/) [ Payment\nPlan Options ](https://www.nationalfuel.com/utility/payment-plan-options-ny-\nhome-business/) [ Understanding Your Bill\n](https://www.nationalfuel.com/utility/your-account-overview-ny-\nhome/understanding-your-bill-ny-home-biz/) [ Rights & Responsibilities\n](https://www.nationalfuel.com/utility/rights-and-responsibilities-ny-\nbusiness/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Understanding\nShared Meters ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/understanding-shared-meters-ny-home-business/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-ny-home-business/meter-faqs-\nny-home-biz/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-ny-biz/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-ny-biz/)\n\n[ Start Service with New Line Installation\n](https://www.nationalfuel.com/utility/service-line-installation-to-start-\nservice/)\n\n[ Start Service with an Existing Line\n](https://www.nationalfuel.com/utility/start-service-with-an-existing-line-ny-\nbiz/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-ny-\nhome-business/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Natural Gas Supplier\n\n[ Choosing a Supplier ](https://www.nationalfuel.com/utility/choosing-a-\nsupplier-ny-business/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/choosing-a-supplier-ny-\nhome/supplier-faqs-ny-home-biz/)\n\n[ Consumer Protection Overview\n](https://www.nationalfuel.com/utility/consumer-protection-ny-home-business/)\n\n####  Energy Efficiency and Equipment\n\nEnergy Efficiency\n\n[ Natural Gas Benefits ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/) [ Financial Assistance Programs\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/financial-\nassistance-programs/)\n\nEnergy Efficiency Programs\n\n[ About the Program ](https://www.nationalfuel.com/utility/energy-efficiency-\nrebate-program/) [ Get Your Rebates\n](https://www.nationalfuel.com/utility/energy-efficiency-rebate-program/get-\nyour-rebates-ny-business/) [ Pre-Qualified Application\n](https://www.nationalfuel.com/utility/energy-efficiency-rebate-program/get-\nyour-rebates-ny-business/pre-qualified-application/) [ Performance-Based\nApplication ](https://www.nationalfuel.com/utility/energy-efficiency-rebate-\nprogram/get-your-rebates-ny-business/performance-based-application/) [ Program\nfor Contractors ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/for-contractors-ny-home-biz/) [ Affordable Multifamily Energy\nEfficiency Program ](https://www.nationalfuel.com/utility/affordable-\nmultifamily-energy-efficiency-program/) [ EmPower (LIURP)\n](https://www.nationalfuel.com/utility/empower-liurp-ny-home/) [ FAQ\n](https://www.nationalfuel.com/utility/about-the-rebate-program/energy-\nefficiency-rebate-program-faqs-ny-home-biz/) [ Contact Us\n](https://www.nationalfuel.com/utility/about-the-rebate-program/energy-\nefficiency-rebate-contact-us/)\n\nEquipment & Vehicles\n\n[ Natural Gas Equipment ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/natural-gas-equipment/) [ Natural Gas Vehicles\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/) [ How Natural Gas Vehicles Work\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/how-natural-gas-vehicles-work/) [ Natural Gas Fueling Stations\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/natural-gas-vehicles-fueling-stations/)\n\nEnergy Performance\n\n[ Energy Performance Reporting\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/energy-\nperformance-ny-biz/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/your-account-\noverview-pa-home/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-pa-home-business/) [\nWeather Normalization Adjustment\n](https://www.nationalfuel.com/utility/weather-normalization-adjustment-pa-\nhome-biz/) [ Payment Plan Options\n](https://www.nationalfuel.com/utility/payment-plan-options-pa-home-business/)\n[ Understanding Your Bill\n](https://www.nationalfuel.com/utility/understanding-your-bill-pa-home-biz/)\n\nPayment Assistance\n\n[ Payment Assistance Programs ](https://www.nationalfuel.com/utility/your-\naccount-overview-pa-home/payment-assistance-programs-pa-home/) [ LIHEAP\n](https://www.nationalfuel.com/utility/your-account-overview-pa-home/payment-\nassistance-programs-pa-home/liheap-pa-home/) [ LIHEAP Locations\n](https://www.nationalfuel.com/utility/your-account-overview-pa-home/payment-\nassistance-programs-pa-home/liheap-locations/) [ Neighbor for Neighbor\n](https://www.nationalfuel.com/utility/your-account-overview-pa-home/payment-\nassistance-programs-pa-home/neighbor-for-neighbor-pa-home/) [ 3rd Party\nNotification Enrollment Form ](https://www.nationalfuel.com/utility/third-\nparty-notification-program-application/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-pa-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-pa-home-business/frequently-\nasked-questions/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-pa-home/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-pa-home/)\n\n[ Start Service with New Line Installation\n](https://www.nationalfuel.com/utility/start-service-pa-home/service-line-\ninstallation-to-start-service-pa-home/)\n\n[ Start Service with Existing Line\n](https://www.nationalfuel.com/utility/start-service-pa-home/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-pa-\nhome-business/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Convert to Natural Gas\n\n[ Convert to Natural Gas Overview\n](https://www.nationalfuel.com/utility/convert-to-natural-gas-overview-pa-\nhome/)\n\n[ New Customer Conversion ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-overview-pa-home/new-customers-convert-to-natural-gas-pa-home/)\n\n[ Existing Customer Conversion ](https://www.nationalfuel.com/utility/convert-\nto-natural-gas-overview-pa-home/existing-customers-convert-to-natural-gas-pa-\nhome/)\n\n[ Calculate Your Savings ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-overview-pa-home/calculate-your-savings-pa-home/)\n\n[ Conversion FAQs ](https://www.nationalfuel.com/utility/convert-to-natural-\ngas-overview-pa-home/frequently-asked-questions-about-converting/)\n\n[ Conversion Application ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-overview-pa-home/conversion-application-pa-home/)\n\n####  Natural Gas Suppliers\n\n[ Supplier Overview ](https://www.nationalfuel.com/utility/supplier-overview-\npa-home/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/supplier-frequently-\nasked-questions/)\n\n[ Natural Gas Choice and Competition Act\n](https://www.nationalfuel.com/utility/natural-gas-choice-and-competition-act-\npa-home-pa-biz/)\n\n[ Eligible Customer List ](https://www.nationalfuel.com/utility/eligible-\ncustomer-list/)\n\n[ Price to Compare ](https://www.nationalfuel.com/utility/price-to-compare/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/your-account-\noverview-pa-business/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-pa-home-business/) [\nWeather Normalization Adjustment\n](https://www.nationalfuel.com/utility/weather-normalization-adjustment-pa-\nhome-biz/) [ Payment Plan Options\n](https://www.nationalfuel.com/utility/payment-plan-options-pa-home-business/)\n[ Understanding Your Bill\n](https://www.nationalfuel.com/utility/understanding-your-bill-pa-home-biz/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-pa-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-pa-home-business/frequently-\nasked-questions/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-pa-biz/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-pa-biz/)\n\n[ Service Service with New Line Installation\n](https://www.nationalfuel.com/utility/start-service-pa-biz/service-line-\ninstallation-to-start-service-pa-biz/)\n\n[ Start Service with Existing Line\n](https://www.nationalfuel.com/utility/start-service-pa-biz/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-pa-\nhome-business/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Natural Gas Suppliers\n\n[ Supplier Overview ](https://www.nationalfuel.com/utility/supplier-overview-\npa-biz/)\n\n[ PUC Licensed Suppliers ](https://www.nationalfuel.com/utility/supplier-\noverview-pa-biz/puc-licensed-natural-gas-suppliers-pa-biz/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/supplier-frequently-\nasked-questions/)\n\n[ Natural Gas Choice and Competition Act\n](https://www.nationalfuel.com/utility/natural-gas-choice-and-competition-act-\npa-home-pa-biz/)\n\n[ Eligible Customer List ](https://www.nationalfuel.com/utility/eligible-\ncustomer-list/)\n\n####  Energy Efficiency and Equipment\n\n[ Benefits of Natural Gas ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/)\n\n[ Natural Gas Vehicles ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/natural-gas-vehicles-pa-biz/)\n\n[ How Natural Gas Vehicles Work\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/how-natural-gas-vehicles-work-pa-biz/)\n\n[ Natural Gas Fueling Stations\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles-pa-biz/natural-gas-vehicle-fueling-stations-pa-biz/)\n\n[ Natural Gas Equipment ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/natural-gas-equipment-pa-biz/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/your-account-\noverview-ny-home/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-ny-home-biz/) [ Payment\nPlan Options ](https://www.nationalfuel.com/utility/payment-plan-options-ny-\nhome-business/) [ Understanding Your Bill\n](https://www.nationalfuel.com/utility/your-account-overview-ny-\nhome/understanding-your-bill-ny-home-biz/) [ Rights & Responsibilities\n](https://www.nationalfuel.com/utility/your-account-overview-ny-home/rights-\nand-responsibilities-ny-home/)\n\nPayment Assistance\n\n[ Program Overview ](https://www.nationalfuel.com/utility/payment-assistance-\nprograms/) [ HEAP Overview ](https://www.nationalfuel.com/utility/payment-\nassistance-programs/heap-overview/) [ HEAP How to Apply\n](https://www.nationalfuel.com/utility/payment-assistance-programs/how-to-\napply/) [ HEAP Locations ](https://www.nationalfuel.com/utility/payment-\nassistance-programs/heap-locations/) [ Neighbor for Neighbor\n](https://www.nationalfuel.com/utility/payment-assistance-programs/neighbor-\nfor-neighbor/) [ Special Protections\n](https://www.nationalfuel.com/utility/payment-assistance-programs/special-\nprotections/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Understanding\nShared Meters ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/understanding-shared-meters-ny-home-business/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-ny-home-business/meter-faqs-\nny-home-biz/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-ny-home/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-ny-home/)\n\n[ Start Service with New Line Installation\n](https://www.nationalfuel.com/utility/start-service-with-line-installation/)\n\n[ Start Service with an Existing Line\n](https://www.nationalfuel.com/utility/start-service-with-an-existing-line-ny-\nhome/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-ny-\nhome-business/)\n\n[ Request Rental Billing History\n](https://www.nationalfuel.com/utility/request-rental-billing-history/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Gas Planning\n\n[ Gas Planning Process ](https://www.nationalfuel.com/utility/gas-planning-\nprocess/)\n\n[ Non-Pipe Alternatives ](https://www.nationalfuel.com/utility/gas-planning-\nprocess/non-pipe-alternatives/)\n\n####  Convert to Gas\n\n[ Convert to Gas Overview ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/)\n\n[ New Customer Conversion ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/new-customer-conversion-ny-home/)\n\n[ Existing Customer Conversion ](https://www.nationalfuel.com/utility/convert-\nto-natural-gas-ny-home/existing-customer-conversion-ny-home/)\n\n[ Conversion Checklist ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/conversion-checklist-ny-home/)\n\n[ Conversion FAQs ](https://www.nationalfuel.com/utility/convert-to-natural-\ngas-ny-home/conversion-faq-ny-home/)\n\n[ Conversion Calculator ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-ny-home/conversion-calculator/)\n\n####  Natural Gas Supplier\n\n[ Supplier Overview ](https://www.nationalfuel.com/utility/choosing-a-\nsupplier-ny-home/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/choosing-a-supplier-ny-\nhome/supplier-faqs-ny-home-biz/)\n\n[ Consumer Protection ](https://www.nationalfuel.com/utility/consumer-\nprotection-ny-home-business/)\n\n[ Power to Choose ](https://documents.dps.ny.gov/PTC/home)\n\n[ Community Choice Aggregation\n](https://www.nationalfuel.com/utility/community-choice-aggregation/)\n\n####  Efficiency Programs\n\n[ About the Rebate Program ](https://www.nationalfuel.com/utility/about-the-\nrebate-program/)\n\n[ Get Your Rebates ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/get-your-rebates-ny-home/)\n\n[ Program for Contractors ](https://www.nationalfuel.com/utility/about-the-\nrebate-program/for-contractors-ny-home-biz/)\n\n[ Other Programs ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/other-programs-ny-home/)\n\n[ Affordable Multifamily Energy Efficiency Program\n](https://www.nationalfuel.com/utility/affordable-multifamily-energy-\nefficiency-program/)\n\n[ EmPower+ ](https://www.nationalfuel.com/utility/empower-liurp-ny-home/)\n\n[ FAQ ](https://www.nationalfuel.com/utility/about-the-rebate-program/energy-\nefficiency-rebate-program-faqs-ny-home-biz/)\n\n[ Contact Us ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/energy-efficiency-rebate-contact-us/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/account-\noverview-ny-business/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-ny-home-biz/) [ Payment\nPlan Options ](https://www.nationalfuel.com/utility/payment-plan-options-ny-\nhome-business/) [ Understanding Your Bill\n](https://www.nationalfuel.com/utility/your-account-overview-ny-\nhome/understanding-your-bill-ny-home-biz/) [ Rights & Responsibilities\n](https://www.nationalfuel.com/utility/rights-and-responsibilities-ny-\nbusiness/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Understanding\nShared Meters ](https://www.nationalfuel.com/utility/your-meter-ny-home-\nbusiness/understanding-shared-meters-ny-home-business/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-ny-home-business/meter-faqs-\nny-home-biz/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-ny-biz/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-ny-biz/)\n\n[ Start Service with New Line Installation\n](https://www.nationalfuel.com/utility/service-line-installation-to-start-\nservice/)\n\n[ Start Service with an Existing Line\n](https://www.nationalfuel.com/utility/start-service-with-an-existing-line-ny-\nbiz/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-ny-\nhome-business/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Natural Gas Supplier\n\n[ Choosing a Supplier ](https://www.nationalfuel.com/utility/choosing-a-\nsupplier-ny-business/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/choosing-a-supplier-ny-\nhome/supplier-faqs-ny-home-biz/)\n\n[ Consumer Protection Overview\n](https://www.nationalfuel.com/utility/consumer-protection-ny-home-business/)\n\n####  Energy Efficiency and Equipment\n\nEnergy Efficiency\n\n[ Natural Gas Benefits ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/) [ Financial Assistance Programs\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/financial-\nassistance-programs/)\n\nEnergy Efficiency Programs\n\n[ About the Program ](https://www.nationalfuel.com/utility/energy-efficiency-\nrebate-program/) [ Get Your Rebates\n](https://www.nationalfuel.com/utility/energy-efficiency-rebate-program/get-\nyour-rebates-ny-business/) [ Pre-Qualified Application\n](https://www.nationalfuel.com/utility/energy-efficiency-rebate-program/get-\nyour-rebates-ny-business/pre-qualified-application/) [ Performance-Based\nApplication ](https://www.nationalfuel.com/utility/energy-efficiency-rebate-\nprogram/get-your-rebates-ny-business/performance-based-application/) [ Program\nfor Contractors ](https://www.nationalfuel.com/utility/about-the-rebate-\nprogram/for-contractors-ny-home-biz/) [ Affordable Multifamily Energy\nEfficiency Program ](https://www.nationalfuel.com/utility/affordable-\nmultifamily-energy-efficiency-program/) [ EmPower (LIURP)\n](https://www.nationalfuel.com/utility/empower-liurp-ny-home/) [ FAQ\n](https://www.nationalfuel.com/utility/about-the-rebate-program/energy-\nefficiency-rebate-program-faqs-ny-home-biz/) [ Contact Us\n](https://www.nationalfuel.com/utility/about-the-rebate-program/energy-\nefficiency-rebate-contact-us/)\n\nEquipment & Vehicles\n\n[ Natural Gas Equipment ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/natural-gas-equipment/) [ Natural Gas Vehicles\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/) [ How Natural Gas Vehicles Work\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/how-natural-gas-vehicles-work/) [ Natural Gas Fueling Stations\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/natural-gas-vehicles-fueling-stations/)\n\nEnergy Performance\n\n[ Energy Performance Reporting\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/energy-\nperformance-ny-biz/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/your-account-\noverview-pa-home/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-pa-home-business/) [\nWeather Normalization Adjustment\n](https://www.nationalfuel.com/utility/weather-normalization-adjustment-pa-\nhome-biz/) [ Payment Plan Options\n](https://www.nationalfuel.com/utility/payment-plan-options-pa-home-business/)\n[ Understanding Your Bill\n](https://www.nationalfuel.com/utility/understanding-your-bill-pa-home-biz/)\n\nPayment Assistance\n\n[ Payment Assistance Programs ](https://www.nationalfuel.com/utility/your-\naccount-overview-pa-home/payment-assistance-programs-pa-home/) [ LIHEAP\n](https://www.nationalfuel.com/utility/your-account-overview-pa-home/payment-\nassistance-programs-pa-home/liheap-pa-home/) [ LIHEAP Locations\n](https://www.nationalfuel.com/utility/your-account-overview-pa-home/payment-\nassistance-programs-pa-home/liheap-locations/) [ Neighbor for Neighbor\n](https://www.nationalfuel.com/utility/your-account-overview-pa-home/payment-\nassistance-programs-pa-home/neighbor-for-neighbor-pa-home/) [ 3rd Party\nNotification Enrollment Form ](https://www.nationalfuel.com/utility/third-\nparty-notification-program-application/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-pa-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-pa-home-business/frequently-\nasked-questions/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-pa-home/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-pa-home/)\n\n[ Start Service with New Line Installation\n](https://www.nationalfuel.com/utility/start-service-pa-home/service-line-\ninstallation-to-start-service-pa-home/)\n\n[ Start Service with Existing Line\n](https://www.nationalfuel.com/utility/start-service-pa-home/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-pa-\nhome-business/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Convert to Natural Gas\n\n[ Convert to Natural Gas Overview\n](https://www.nationalfuel.com/utility/convert-to-natural-gas-overview-pa-\nhome/)\n\n[ New Customer Conversion ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-overview-pa-home/new-customers-convert-to-natural-gas-pa-home/)\n\n[ Existing Customer Conversion ](https://www.nationalfuel.com/utility/convert-\nto-natural-gas-overview-pa-home/existing-customers-convert-to-natural-gas-pa-\nhome/)\n\n[ Calculate Your Savings ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-overview-pa-home/calculate-your-savings-pa-home/)\n\n[ Conversion FAQs ](https://www.nationalfuel.com/utility/convert-to-natural-\ngas-overview-pa-home/frequently-asked-questions-about-converting/)\n\n[ Conversion Application ](https://www.nationalfuel.com/utility/convert-to-\nnatural-gas-overview-pa-home/conversion-application-pa-home/)\n\n####  Natural Gas Suppliers\n\n[ Supplier Overview ](https://www.nationalfuel.com/utility/supplier-overview-\npa-home/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/supplier-frequently-\nasked-questions/)\n\n[ Natural Gas Choice and Competition Act\n](https://www.nationalfuel.com/utility/natural-gas-choice-and-competition-act-\npa-home-pa-biz/)\n\n[ Eligible Customer List ](https://www.nationalfuel.com/utility/eligible-\ncustomer-list/)\n\n[ Price to Compare ](https://www.nationalfuel.com/utility/price-to-compare/)\n\n####  Payment & Meter\n\nAccount Overview\n\n[ Your Account Overview ](https://www.nationalfuel.com/utility/your-account-\noverview-pa-business/) [ Make a Payment\n](https://www.nationalfuel.com/utility/make-a-payment-pa-home-business/) [\nWeather Normalization Adjustment\n](https://www.nationalfuel.com/utility/weather-normalization-adjustment-pa-\nhome-biz/) [ Payment Plan Options\n](https://www.nationalfuel.com/utility/payment-plan-options-pa-home-business/)\n[ Understanding Your Bill\n](https://www.nationalfuel.com/utility/understanding-your-bill-pa-home-biz/)\n\nYour Meter\n\n[ Your Meter ](https://www.nationalfuel.com/utility/your-meter-pa-home-\nbusiness/) [ Submit Meter Reading\n](https://www.nationalfuel.com/utility/submit-meter-reading/) [ Meter FAQs\n](https://www.nationalfuel.com/utility/your-meter-pa-home-business/frequently-\nasked-questions/)\n\n####  Start or Stop Service\n\n[ Moving ](https://www.nationalfuel.com/utility/moving-pa-biz/)\n\n[ Stop Service ](https://www.nationalfuel.com/utility/stop-service-pa-biz/)\n\n[ Service Service with New Line Installation\n](https://www.nationalfuel.com/utility/start-service-pa-biz/service-line-\ninstallation-to-start-service-pa-biz/)\n\n[ Start Service with Existing Line\n](https://www.nationalfuel.com/utility/start-service-pa-biz/)\n\n[ Landlord Program ](https://www.nationalfuel.com/utility/landlord-program-pa-\nhome-business/)\n\n[ Excess Flow Valve Request ](https://www.nationalfuel.com/utility/excess-\nflow-valve-request/)\n\n####  Natural Gas Suppliers\n\n[ Supplier Overview ](https://www.nationalfuel.com/utility/supplier-overview-\npa-biz/)\n\n[ PUC Licensed Suppliers ](https://www.nationalfuel.com/utility/supplier-\noverview-pa-biz/puc-licensed-natural-gas-suppliers-pa-biz/)\n\n[ Supplier FAQ ](https://www.nationalfuel.com/utility/supplier-frequently-\nasked-questions/)\n\n[ Natural Gas Choice and Competition Act\n](https://www.nationalfuel.com/utility/natural-gas-choice-and-competition-act-\npa-home-pa-biz/)\n\n[ Eligible Customer List ](https://www.nationalfuel.com/utility/eligible-\ncustomer-list/)\n\n####  Energy Efficiency and Equipment\n\n[ Benefits of Natural Gas ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/)\n\n[ Natural Gas Vehicles ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/natural-gas-vehicles-pa-biz/)\n\n[ How Natural Gas Vehicles Work\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles/how-natural-gas-vehicles-work-pa-biz/)\n\n[ Natural Gas Fueling Stations\n](https://www.nationalfuel.com/utility/benefits-of-natural-gas/natural-gas-\nvehicles-pa-biz/natural-gas-vehicle-fueling-stations-pa-biz/)\n\n[ Natural Gas Equipment ](https://www.nationalfuel.com/utility/benefits-of-\nnatural-gas/natural-gas-equipment-pa-biz/)\n\n  * [ Make A Payment ](https://www.nationalfuel.com/utility/make-a-payment-ny-home-biz/)\n  * [ Make A Payment ](https://www.nationalfuel.com/utility/make-a-payment-pa-home-business/)\n\n  * [ Corporate Responsibility ](https://www.nationalfuel.com/corporate/our-guiding-principles/)\n  * [ Careers ](https://www.nationalfuel.com/corporate/careers/)\n  * [ Investor Relations ](https://investor.nationalfuelgas.com/)\n  * [ Contact Us ](https://www.nationalfuel.com/corporate/contact-us-directory/)\n\n[ ](https://www.nationalfuel.com/utility/ \"Home\")\n\n#  The Energy-Efficiency Rebate Program\n\n[ ](https://www.nationalfuel.com/utility/ \"Home\")\n\n#  The Energy-Efficiency Rebate Program\n\n##  My Utility Account\n\n[ Forgot Login?\n](https://www.invoicecloud.com/portal/\\(S\\(sqp2kazt25ymve0yxx2suloc\\)\\)/2/CustomerLostPassword.aspx?BillerGuid=89cb86f4-fadb-449e-88b3-26b00959ab4c&return=customerlogin.aspx%3fbillerguid%3d89cb86f4-fadb-449e-88b3-26b00959ab4c)\n\n[ Create Account ](https://www.invoicecloud.com/nfg/NationalFuelGas)\n\nor [ Pay Without Signing In ](https://www.nationalfuel.com/utility/make-a-\npayment-ny-home-biz/)\n\n##  Have a Gas Emergency?\n\nCall [ 1-800-444-3130 ](tel:1-800-444-3130)\n\n24 Hours a Day\n\n##  811 Call Before You Dig\n\nCall [ 8-1-1 ](tel:811) before you dig to have your utility lines marked for\nfree.\n\n[ Learn more ](https://www.nationalfuel.com/safety/call-8-1-1-before-you-dig/)\n\nNational Fuel\u2019s energy-efficiency rebate program offers residential customers\nin Western New York several money-saving rebates for replacing specified\nappliances with new, energy-efficient models.\n\nBy combining rebates with projected annual savings for using more energy-\nefficient equipment, new, high-efficiency appliances can quickly pay for\nthemselves.\n\nWhen you take advantage of the energy-efficiency rebate program, you get\nrebates for having a contractor install high-efficiency equipment for your\nhome. These rebates even include gas clothes dryers! Taking advantage of this\naffordable, efficient, secure and abundant resource really adds up\u2014year after\nyear.\n\nFor more information on National Fuel\u2019s energy efficiency programs, please\nvisit [ FuelingTomorrowToday.com ](http://www.fuelingtomorrowtoday.com) .\n\n## [ Complete Your Residential Rebate Application  Online Form\n](https://frontdoor.portal.poweredbyefi.org/initiative/national%20fuel)\n\n##  Save Energy and Money\n\nGet rebates on select natural gas appliances.  1\n\n###  Space Heating\n\nAppliance  |  Minimum Efficiency Level  |  Rebate Amount   \n---|---|---  \nHot Air Furnace with ECM plus 14.3 SEER2 Heat Pump  6  |  95% AFUE  |  $2,000   \nHot Air Furnace with ECM  3  |  95% AFUE  |  $400   \nHot Water Boiler  |  90% AFUE  |  $500   \nHot Air Furnace w/ECM and Water Heating  |  95% AFUE  |  $600   \nHot Water Boiler and Water Heating (Combi Boiler)  |  90% AFUE  |  $700   \nFurnace Tune Up  4  |  N/A  |  $125   \nBoiler Tune Up  4  |  N/A  |  $125   \n  \n###  Water Heating\n\nAppliance  |  Minimum Efficiency Level  |  Rebate Amount   \n---|---|---  \nStorage Tank Water Heater  \n(55 gallons or less)  |  0.64 UEF  5  |  $100   \nTankless Water Heater  |  0.87 UEF  |  $200   \n  \n###  Other Appliances\n\nAppliance  |  Minimum Efficiency Level  |  Rebate Amount   \n---|---|---  \nClothes Dryer  |  Energy Star\u00ae Rated  |  $50   \nSmart Thermostat  |  N/A  |  $200   \nBoiler Reset Controls  |  N/A  |  $250   \n  \n1  Installed between January 1 and December 31, 2025  \n2  Annual Fuel Utilization Efficiency  \n3  Electronically Commutated Motor  \n4  One tune-up service per furnace/boiler per year  \n5  Uniform Energy Factor  \n6  In order to qualify for the enhanced furnace rebate, the furnace w/ ECM\nmust be installed with a heat pump with a SEER2 of at least 14.3 & be AHRI\ncertified. A furnace installed with a traditional air conditioning system will\nqualify for $400 furnace w/ ECM rebate.\n\n[ ](https://www.nationalfuel.com/utility/)\n\n  * [ Privacy Policy ](https://www.nationalfuel.com/corporate/web-privacy-policy/)\n  * [ Terms and Conditions ](https://www.nationalfuel.com/corporate/terms-and-conditions/)\n  * [ Nondiscrimination Statement ](https://www.nationalfuel.com/corporate/nondiscrimination-statement/)\n  * [ Disclosures Regarding Forward-Looking Statements ](https://www.nationalfuel.com/corporate/disclosures-regarding-forward-looking-statements/)\n\n[ Employee/Retiree Portal ](https://www.nationalfuel.com/corporate/employee-\nretiree-resources/)\n\n[ ](https://www.facebook.com/NationalFuel/) [\n](https://www.linkedin.com/company/national-fuel-gas-company/) [\n](https://twitter.com/natfuelgas/)\n\n\u00a9 2025 National Fuel Gas Company\n\n#  Where are you located?\n\nNew York  Pennsylvania\n\n#  For your home or business?\n\nMy Home  My Business\n\n#  Where are you located?\n\n#  Is this for your home or business?\n\nNY Home  NY Business\n\nPA Home  PA Business\n\n",
                "url": "https://www.nationalfuel.com/utility/about-the-rebate-program/"
            },
            "reason": "This is the official website of National Fuel, a utility company, providing information about their rebate program for energy efficiency.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official website of National Fuel detailing their rebate program.",
            "url": "https://www.nationalfuel.com/utility/about-the-rebate-program/"
        },
        {
            "content": {
                "metadata": {
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                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.energystar.gov/rebate-finder?page_number=0"
                },
                "page_content": "#  403 ERROR\n\n##  The request could not be satisfied.\n\n* * *\n\nRequest blocked. We can't connect to the server for this app or website at\nthis time. There might be too much traffic or a configuration error. Try again\nlater, or contact the app or website owner.  \nIf you provide content to customers through CloudFront, you can find steps to\ntroubleshoot and help prevent this error by reviewing the CloudFront\ndocumentation.  \n\n* * *\n    \n    \n    Generated by cloudfront (CloudFront)\n    Request ID: GgLnebMRAifJI5TB95bmv6yjsZ9r3JjmPZ15Bek5R1H6S-UKS9tADg==\n    \n\n",
                "url": "https://www.energystar.gov/rebate-finder?page_number=0"
            },
            "reason": "This is the official website of Energy Star, a U.S. government-backed program for energy efficiency, providing a rebate finder tool.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official Energy Star website with a rebate finder tool.",
            "url": "https://www.energystar.gov/rebate-finder?page_number=0"
        },
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                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://apsc.arkansas.gov/programs-initiatives-activities/energy-efficiency/energy-efficiency-annual-reports/"
                },
                "page_content": "Skip to content\n\n[ ](https://apsc.arkansas.gov/)\n\n__ __\n\n##  Energy Efficiency Annual Reports\n\n[ Home ](https://apsc.arkansas.gov/) \u00bb  [ Programs, Initiatives, Activities\n](https://apsc.arkansas.gov/programs-initiatives-activities/) \u00bb  [ Energy\nEfficiency ](https://apsc.arkansas.gov/programs-initiatives-activities/energy-\nefficiency/) \u00bb  Energy Efficiency Annual Reports\n\n##  Energy Efficiency Annual Reports\n\n**Docket No. & Company Name ** |  **Year** |  **Annual Report** |  **Annual SARP Workbook**  \n---|---|---|---  \n07-075-TF Oklahoma Gas & Electric Company  |  2008  |  [ OG&E 2008.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2008-Annual-Report.pdf) |  N/A   \n07-075-TF Oklahoma Gas & Electric Company  |  2009  |  [ OG&E 2009.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2009-Annual-Report.pdf) |  N/A   \n07-075-TF Oklahoma Gas & Electric Company  |  2010  |  [ OG&E 2010.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2010-Annual-Report.pdf) |  [ OG&E 2010.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2010-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2011  |  [ OG&E 2011.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2011-Annual-Report.pdf) |  [ OG&E 2011.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=OG&E%202011.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2012  |  [ OG&E 2012.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2012-Annual-Report.pdf) |  [ OG&E 2012.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2011-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2013  |  [ OG&E 2013.pdf ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2013-Annual-Report.pdf) |  [ OG&E 2013.xls ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2012-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2014  |  [ OG&E 2014.pdf ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2014-Annual-Report.pdf) |  [ OG&E 2014.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2014-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2015  |  [ OG&E 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=OG&E%202015.pdf) |  [ OG&E 2015.xlsx ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2015-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2016  |  [ OG&E 2016.pdf ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2016-Annual-Report.pdf) |  [ OG&E 2016.xlsx ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2016-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2017  |  [ OG&E 2017.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2017-Annual-Report.pdf) |  [ OG&E 2017.xlsx ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2017-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2018  |  [ OG&E 2018.pdf ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2018-Annual-Report.pdf) |  [ OG&E 2018.xlsx ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2018-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2019  |  [ OG&E 2019.pdf ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2019-Annual-Report.pdf) |  [ OG&E 2019.xlsx ](http://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2019-Annual-Report.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2020  |  [ OG&E 2020.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-Annual-Report-2020.pdf) |  [ OG&E 2020.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-SARP-Workbook-2020.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2021  |  [ OG&E 2021.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2021-Annual-Report.pdf) |  [ OG&E 2021.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2021-SARP-Workbook.xlsx)  \n07-075-TF Oklahoma Gas & Electric Company  |  2022  |  [ OG&E 2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2022-Annual-Report.pdf) |  [ OG&E 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-075-TF-OGE-2022-SARP-Workbook.xlsx)  \n07-076-TF The Empire District Electric Company  |  2008  |  [ Empire 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202008.pdf) |  N/A   \n---|---|---|---  \n07-076-TF The Empire District Electric Company  |  2009  |  [ Empire 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202009.pdf) |  N/A   \n07-076-TF The Empire District Electric Company  |  2010  |  [ Empire 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202010.pdf) |  [ Empire 2010.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202010.xls)  \n07-076-TF The Empire District Electric Company  |  2011  |  [ Empire 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202011.pdf) |  [ Empire 2011.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202011.xls)  \n07-076-TF The Empire District Electric Company  |  2012  |  [ Empire 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202012.pdf) |  [ Empire 2012.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202012.xls)  \n07-076-TF The Empire District Electric Company  |  2013  |  [ Empire 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202013.pdf) |  [ Empire 2013.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202013.xls)  \n07-076-TF The Empire District Electric Company  |  2014  |  [ Empire 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202014.pdf) |  [ Empire 2014.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202014.xls)  \n07-076-TF The Empire District Electric Company  |  2015  |  [ Empire 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202015.pdf) |  [ Empire 2015.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202015.xls)  \n07-076-TF The Empire District Electric Company  |  2016  |  [ Empire 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202016.pdf) \ufeff  |  [ Empire 2016.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202016.xlsx)  \n07-076-TF The Empire District Electric Company  |  2017  |  [ Empire 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202017.pdf) \ufeff  |  [ Empire 2017.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202017.xlsx)  \n07-076-TF The Empire District Electric Company  |  2018  |  [ Empire 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202018.pdf) |  [ Empire 2018.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202018.xlsx)  \n07-076-TF The Empire District Electric Company  |  2019  |  [ Empire 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202019.pdf) |  [ Empire 2019.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202019.xlsx) \ufeff   \n07-076-TF The Empire District Electric Company  |  2020  |  [ Empire 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202020.pdf) |  [ Empire 2020.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Empire%202020.xlsx)  \n07-076-TF The Empire District Electric Company  |  2021  |  [ Empire 2021.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-076-TF-Empire-2021-Annual-Report.pdf) |  [ Empire 2021.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-076-TF-Empire-2021-SARP-Workbook.xlsx)  \n07-076-TF The Empire District Electric Company  |  2022  |  [ Empire 2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-076-TF-Empire-2022-Annual-Report.pdf) |  [ Empire 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-076-TF-Empire-2022-SARP-Workbook.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2008  |  [ AOG 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202008.pdf) |  N/A   \n---|---|---|---  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2009  |  [ AOG 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202009.pdf) |  N/A   \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2010  |  [ AOG 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202010.pdf) |  [ AOG 2010.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202010.xls)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2011  |  [ AOG 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202011.pdf) |  [ AOG 2011.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202011.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2012  |  [ AOG 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202012.pdf) |  [ AOG 2012.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202012.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2013  |  [ AOG 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202013.pdf) |  [ AOG 2013.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202013.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2014  |  [ AOG 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202014.pdf) |  [ AOG 2014.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202014.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2015  |  [ AOG 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202015.pdf) |  [ AOG 2015.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202015.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2016  |  [ AOG 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202016.pdf) |  [ AOG 2016.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202016.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2017  |  [ AOG 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202017.pdf) |  [ AOG 2017.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202017.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2018  |  [ AOG 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202018.pdf) |  [ AOG 2018.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202018.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2019  |  [ AOG 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202019.pdf) |  [ AOG 2019.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202019.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2020  |  [ AOG 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202020.pdf) |  [ AOG 2020.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AOG%202020.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2021  |  [ AOG 2021.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-077-TF-AOG-2021-Annual-Report.pdf) |  [ AOG 2021.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-077-TF-AOG-2021-SARP-Workbook.xlsx)  \n07-077-TF Arkansas Oklahoma Gas Corporation  |  2022  |  [ AOG 2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-077-TF-AOG-2022-Annual-Report.pdf) |  [ AOG 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-077-TF-AOG-2022-SARP-Workbook.xlsx)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2008  |  [ SourceGas 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202008.pdf) |  N/A   \n---|---|---|---  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2009  |  [ SourceGas 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202009.pdf) |  N/A   \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2010  |  [ SourceGas 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202010.pdf) |  [ SourceGas 2010.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202010.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2011  |  [ SourceGas 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202011.pdf) |  [ SourceGas 2011.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202011.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2012  |  [ SourceGas 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202012.pdf) |  [ SourceGas 2012.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202012.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2013  |  [ SourceGas 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202013.pdf) |  [ SourceGas 2013.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202013.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2014  |  [ SourceGas 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202014.pdf) |  [ SourceGas 2014.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SourceGas%202014.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2015  |  [ BlackHills 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202015.pdf) |  [ BlackHills 2015.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202015.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2016  |  [ BlackHills 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202016.pdf) |  [ BlackHills 2016.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202016.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2017  |  [ BlackHills 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202017.pdf) |  [ BlackHills 2017.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202017.xlsx)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2018  |  [ BlackHills 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202016.pdf) |  [ BlackHills 2018.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202016.xls)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2019  |  [ BlackHills 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202019.pdf) |  [ BlackHills 2019.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202019.xlsx)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2020  |  [ BlackHills 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202020.pdf) |  [ BlackHills 2020.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=BlackHills%202020.xlsx)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2021  |  [ BHEA 2021.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-078-TF-BHEA-2021-Annual-Report.pdf) |  [ BHEA 2021.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-078-TF-BHEA-2021-SARP-Workbook.xlsx)  \n07-078-TF Black Hills Energy Arkansas, Inc.  |  2022  |  [ BHEA-2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-078-TF-BHEA-2022-Annual-Report.pdf) |  [ BHEA 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-078-TF-BHEA-2022-SARP-Workbook.xlsx)  \n07-079-TF Arkansas Weatherization Program  |  2008  |  [ AWP 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202008.pdf) |  N/A   \n---|---|---|---  \n07-079-TF Arkansas Weatherization Program  |  2009  |  [ AWP 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202009.pdf) |  N/A   \n07-079-TF Arkansas Weatherization Program  |  2010  |  [ AWP 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202010.pdf) |  N/A   \n07-079-TF Arkansas Weatherization Program  |  2011  |  [ AWP 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202011.pdf) |  [ AWP 2011.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202011.xlsx)  \n07-079-TF Arkansas Weatherization Program  |  2012  |  [ AWP 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202012.pdf) |  [ AWP 2012.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202012.xlsx)  \n07-079-TF Arkansas Weatherization Program  |  2013  |  [ AWP 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202013.pdf) |  [ AWP 2013.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202013.xlsx)  \n07-079-TF Arkansas Weatherization Program  |  2014  |  [ AWP 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202014.pdf) |  [ AWP 2014.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202014.xls)  \n07-079-TF Arkansas Weatherization Program  |  2015  |  [ AWP 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202015.pdf) |  [ AWP 2015.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=AWP%202015.xls)  \n|  |  \ufeff  |  \ufeff   \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2008  |  [ CenterPoint 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202008.pdf) |  N/A   \n---|---|---|---  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2009  |  [ CenterPoint 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202009.pdf) |  N/A   \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2010  |  [ CenterPoint 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202010.pdf) |  [ CenterPoint 2010.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202010.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2011  |  [ CenterPoint 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202011.pdf) |  [ CenterPoint 2011.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202011.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2012  |  [ CenterPoint 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202012.pdf) |  [ CenterPoint 2012.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202012.xls)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2013  |  [ CenterPoint 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202013.pdf) |  [ CenterPoint 2013.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202013.xls)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2014  |  [ CenterPoint 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202014.pdf) |  [ CenterPoint 2014.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202014.xls)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2015  |  [ CenterPoint 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202015.pdf) |  [ CenterPoint 2015.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202015.xls)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2016  |  [ CenterPoint 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202016.pdf) |  [ CenterPoint 2016.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202016.xls)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2017  |  [ CenterPoint 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202017.pdf) |  [ CenterPoint 2017.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202017.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2018  |  [ CenterPoint 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202018.pdf) |  [ CenterPoint 2018.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202018.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2019  |  [ CenterPoint 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202019.pdf) |  [ CenterPoint 2019.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202019.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2020  |  [ CenterPoint 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202020.pdf) |  [ CenterPoint 2020.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=CenterPoint%202020.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2021  |  [ CEA 2021.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-081-TF-CEA-2021-Annual-Report.pdf) |  [ CEA 2021.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-081-TF-CEA-2021-SARP-Workbook.xlsx)  \n07-081-TF Summit Utilities Arkansas, Inc./CEA  |  2022  |  [ CEA 2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-081-TF-CEA-2022-Annual-Report.pdf) |  [ CEA 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-081-TF-CEA-2022-SARP-Workbook.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2008  |  [ SWEPCO 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202008.pdf) |  N/A   \n---|---|---|---  \n07-082-TF Southwestern Electric Power Company  |  2009  |  [ SWEPCO 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202009.pdf) |  N/A   \n07-082-TF Southwestern Electric Power Company  |  2010  |  [ SWEPCO 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202010.pdf) |  [ SWEPCO 2010.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202010.xls)  \n07-082-TF Southwestern Electric Power Company  |  2011  |  [ SWEPCO 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202011.pdf) |  [ SWEPCO 2011.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202011.xls)  \n07-082-TF Southwestern Electric Power Company  |  2012  |  [ SWEPCO 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202012.pdf) |  [ SWEPCO 2012.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202012.xls)  \n07-082-TF Southwestern Electric Power Company  |  2013  |  [ SWEPCO 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202013.pdf) |  [ SWEPCO 2013.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202013.xls)  \n07-082-TF Southwestern Electric Power Company  |  2014  |  [ SWEPCO 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202014.pdf) |  [ SWEPCO 2014.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202014.xls)  \n07-082-TF Southwestern Electric Power Company  |  2015  |  [ SWEPCO 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202015.pdf) |  [ SWEPCO 2015.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202015.xls)  \n07-082-TF Southwestern Electric Power Company  |  2016  |  [ SWEPCO 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202016.pdf) |  [ SWEPCO 2016.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202016.xls)  \n07-082-TF Southwestern Electric Power Company  |  2017  |  [ SWEPCO 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202017.pdf) |  [ SWEPCO 2017.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202017.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2018  |  [ SWEPCO 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202018.pdf) |  [ SWEPCO 2018.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202018.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2019  |  [ SWEPCO 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202019.pdf) |  [ SWEPCO 2019.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202019.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2020  |  [ SWEPCO 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202020.pdf) |  [ SWEPCO 2020.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202020.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2020  |  [ SWEPCO 2020a.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202020.pdf) |  [ N/A ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=SWEPCO%202020.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2021  |  [ SWEPCO 2021-revised.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-082-TF-SWEPCO-2021-Annual-Report-revised.pdf) |  [ SWEPCO-2021 revised.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-082-TF-SWEPCO-2021-SARP-Workbook-revised.xlsx)  \n07-082-TF Southwestern Electric Power Company  |  2022  |  [ SWEPCO 2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-082-TF-SWEPCO-2022-Annual-Report.pdf) |  [ SWEPCO 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-082-TF-SWEPCO-2022-SARP-Workbook-revised.xlsx)  \n07-083-TF Energy Efficiency Arkansas  |  2008  |  [ EEA 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202008.pdf) |  N/A   \n---|---|---|---  \n07-083-TF Energy Efficiency Arkansas  |  2009  |  [ EEA 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202009.pdf) |  N/A   \n07-083-TF Energy Efficiency Arkansas  |  2010  |  [ EEA 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202010.pdf) |  N/A   \n07-083-TF Energy Efficiency Arkansas  |  2011  |  [ EEA 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202011.pdf) |  [ EEA 2011.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202011.xls)  \n07-083-TF Energy Efficiency Arkansas  |  2012  |  [ EEA 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202012.pdf) |  N/A   \n07-083-TF Energy Efficiency Arkansas  |  2013  |  [ EEA 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202013.pdf) |  [ EEA 2013.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202013.xls)  \n07-083-TF Energy Efficiency Arkansas  |  2014  |  N/A  |  N/A   \n07-083-TF Energy Efficiency Arkansas  |  2015  |  [ EEA 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202015.pdf) |  [ EEA 2015.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202015.xls)  \n07-083-TF Energy Efficiency Arkansas  |  2016  |  [ EEA 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202016.pdf) |  [ EEA 2016.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202016.xls)  \n07-083-TF Energy Efficiency Arkansas  |  2017  |  [ EEA 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202017.pdf) |  [ EEA 2017.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202017.xlsx)  \n07-083-TF Energy Efficiency Arkansas  |  2018  |  [ EEA 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202018.pdf) |  [ EEA 2018.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202018.xlsx)  \n07-083-TF Energy Efficiency Arkansas  |  2019  |  [ EEA 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202019.pdf) |  [ EEA 2019.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202017.xlsx)  \n07-083-TF Energy Efficiency Arkansas  |  2020  |  [ EEA 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202020.pdf) |  [ EEA 2020.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=EEA%202020.xlsx)  \n07-083-TF Energy Efficiency Arkansas  |  2021  |  N/A  |  N/A   \n07-085-TF Entergy Arkansas, LLC  |  2008  |  [ Entergy 2008.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202008.pdf) |  N/A   \n---|---|---|---  \n07-085-TF Entergy Arkansas, LLC  |  2009  |  [ Entergy 2009.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202009.pdf) |  N/A   \n07-085-TF Entergy Arkansas, LLC  |  2010  |  [ Entergy 2010.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202010.pdf) |  [ Entergy 2010.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202010.xls)  \n07-085-TF Entergy Arkansas, LLC  |  2011  |  [ Entergy 2011.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202011.pdf) |  [ Entergy 2011.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202011.xls)  \n07-085-TF Entergy Arkansas, LLC  |  2012  |  [ Entergy 2012.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202012.pdf) |  [ Entergy 2012.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202012.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2013  |  [ Entergy 2013.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202013.pdf) |  [ Entergy 2013.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202013.xls)  \n07-085-TF Entergy Arkansas, LLC  |  2014  |  [ Entergy 2014.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202014.pdf) |  [ Entergy 2014.xls ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202014.xls)  \n07-085-TF Entergy Arkansas, LLC  |  2015  |  [ Entergy 2015.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202015.pdf) |  [ Entergy 2015.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202015.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2016  |  [ Entergy 2016.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202016.pdf) |  [ Entergy 2016.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202016.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2017  |  [ Entergy 2017.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202017.pdf) |  [ Entergy 2017.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202017.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2018  |  [ Entergy 2018.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202018.pdf) |  [ Entergy 2018.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202018.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2019  |  [ Entergy 2019.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202019.pdf) |  [ Entergy 2019.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202019.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2020  |  [ Entergy 2020.pdf ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202020.pdf) |  [ Entergy 2020.xlsx ](https://apps.apsc.arkansas.gov/olsv2/viewdoc/eeinfo.asp?document=Entergy%202020.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2021  |  [ EAL 2021.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-085-TF-EAL-2021-Annual-Report.pdf) |  [ EAL 2021.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-085-TF-EAL-2021-SARP-Workbook.xlsx)  \n07-085-TF Entergy Arkansas, LLC  |  2022  |  [ EAL 2022.pdf ](https://apsc.arkansas.gov/wp-content/uploads/07-085-TF-EAL-2022-Annual-Report.pdf) |  [ EAL 2022.xlsx ](https://apsc.arkansas.gov/wp-content/uploads/07-085-TF-EAL-2022-SARP-Workbook.xlsx)  \n  \n##  Contact Us\n\nMailing Address :\n\nArkansas Public Service Commission  \nP.O. Box 400  \nLittle Rock, Arkansas 72201-0400\n\n**Toll Free:** (800) 482-1164\n\n**TDD:** (800) 682-2698\n\nPhysical Address:\n\nArkansas Public Service Commission  \n1000 Center Street  \nLittle Rock, Arkansas 72201-4314\n\n**Phone:** (501) 682-2051\n\n**Complaints Phone:** (501) 682-1718\n\nThe Arkansas Public Service Commission is open Monday \u2013 Friday, 8:00 a.m. \u2013\n4:30 p.m (Governor\u2019s Policy Directive No. 5)\n\n__ __\n\nCopyright \u00a9 2025 Arkansas Public Service Commission. All rights reserved.\n\n",
                "url": "https://apsc.arkansas.gov/programs-initiatives-activities/energy-efficiency/energy-efficiency-annual-reports/"
            },
            "reason": "This is the official website of the Arkansas Public Service Commission, providing annual reports on energy efficiency programs.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official Arkansas government website with energy efficiency reports.",
            "url": "https://apsc.arkansas.gov/programs-initiatives-activities/energy-efficiency/energy-efficiency-annual-reports/"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "6e341709-a3d3-413e-a0bf-3a35ef4e7afd",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.energystar.gov/productfinder/product/certified-windows/results"
                },
                "page_content": "#  ENERGY STAR  \nProduct Finder\n\n[ Full Site \u00bb  ](/productfinder/)\n\n[ \u00ab BACK TO ALL CATEGORIES  ](/productfinder/)  \n\n##\n\nENERGY STAR Certified\n\nWindows, Doors & Skylights\n\nVisit the [ Windows, Doors & Skylights\n](/products/res_windows_doors_skylights) page for usage tips and buying\nguidelines.\n\n  * ##  Together we can create a healthier planet for all of us. \n\n[ LEARN MORE ](https://www.energystar.gov/products)\n\nFind your ENERGY STAR Climate Zone [ Here\n](https://www.energystar.gov/products/building_products/residential_windows_doors_and_skylights/climate_zone/search\n\"ENERGY STAR Climate Zone Map\") .\n\n[ ](mailto:?subject=ENERGY STAR Certified Windows, Doors & Skylights -\nresults&body=ENERGY STAR Best Value Finder search\nresults:%20%0A%0Ahttps%3A%2F%2Fwww.energystar.gov%2Fproductfinder%2Fproduct%2Fcertified-\nwindows%2Fresults?%0A%0A \"Share by Email\")\n\nFilter Your Results\n\nNo rebates for Windows, Doors & Skylights found in (  ) - click here to search\nother areas >>\n\n###  change zip \u2794\n\nLoading Rebate Data\n\n\u25bc Show All Rebates \u25bc\n\n0  heat pump water heater installers in your area.\n\n  * ProVia LLC. : PRD-N-87 \n\nSeries Name:\n\nPremium Fiberglass Entry Door\n\nProduct Category:\n\nDoor\n\nProduct Type:\n\nSwinging Entry Door (Single)\n\nFrame Material:\n\nComposite Material, Steel, Vinyl (or other plastic), Wood\n\nU-Factor Min.  :\n\n0.09\n\nSHGC Min.  :\n\n0.00\n\nU-Factor Max.  :\n\n0.28\n\nSHGC Max.  :\n\n0.31\n\nES Options Certified  :\n\n21,489\n\nNorthern Zone Options  :\n\n20,306\n\nNorth-Central Zone Options  :\n\n20,306\n\nSouthern Zone Options  :\n\n21,417\n\nSouth-Central Zone Options  :\n\n21,417\n\nCLICK FOR MORE INFORMATION\n\n  * Alpen High Performance Products : ALP-M-18 \n\nSeries Name:\n\nTyrol Fixed Picture\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.10\n\nSHGC Min.  :\n\n0.17\n\nU-Factor Max.  :\n\n0.26\n\nSHGC Max.  :\n\n0.50\n\nES Options Certified  :\n\n80\n\nNorthern Zone Options  :\n\n79\n\nNorth-Central Zone Options  :\n\n61\n\nSouthern Zone Options  :\n\n31\n\nSouth-Central Zone Options  :\n\n31\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.10\n\nME SHGC Min.  :\n\n0.17\n\nME U-Factor Max  :\n\n0.20\n\nME SHGC Max  :\n\n0.48\n\nME Total ES Options Certified  :\n\n78\n\nME Northern Zone Options  :\n\n55\n\nME North-Central Zone Options  :\n\n60\n\nME Southern Zone Options  :\n\n30\n\nME South-Central Zone Options  :\n\n30\n\n  * Alpen High Performance Products : ALP-M-10 \n\nSeries Name:\n\nFixed High Profile\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nFiberglass\n\nU-Factor Min.  :\n\n0.11\n\nSHGC Min.  :\n\n0.10\n\nU-Factor Max.  :\n\n0.26\n\nSHGC Max.  :\n\n0.51\n\nES Options Certified  :\n\n306\n\nNorthern Zone Options  :\n\n241\n\nNorth-Central Zone Options  :\n\n273\n\nSouthern Zone Options  :\n\n148\n\nSouth-Central Zone Options  :\n\n148\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.11\n\nME SHGC Min.  :\n\n0.10\n\nME U-Factor Max  :\n\n0.20\n\nME SHGC Max  :\n\n0.48\n\nME Total ES Options Certified  :\n\n273\n\nME Northern Zone Options  :\n\n185\n\nME North-Central Zone Options  :\n\n250\n\nME Southern Zone Options  :\n\n133\n\nME South-Central Zone Options  :\n\n133\n\n  * Alpen High Performance Products : ALP-M-24 \n\nSeries Name:\n\nFixed Low Profile\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nFiberglass\n\nU-Factor Min.  :\n\n0.11\n\nSHGC Min.  :\n\n0.12\n\nU-Factor Max.  :\n\n0.27\n\nSHGC Max.  :\n\n0.55\n\nES Options Certified  :\n\n292\n\nNorthern Zone Options  :\n\n265\n\nNorth-Central Zone Options  :\n\n236\n\nSouthern Zone Options  :\n\n110\n\nSouth-Central Zone Options  :\n\n110\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.11\n\nME SHGC Min.  :\n\n0.12\n\nME U-Factor Max  :\n\n0.21\n\nME SHGC Max  :\n\n0.53\n\nME Total ES Options Certified  :\n\n269\n\nME Northern Zone Options  :\n\n221\n\nME North-Central Zone Options  :\n\n221\n\nME Southern Zone Options  :\n\n100\n\nME South-Central Zone Options  :\n\n98\n\n  * Alpen High Performance Products : ALP-M-17 \n\nSeries Name:\n\nTyrol Tilt Turn\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nDual Action (Tilt Turn)\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.15\n\nU-Factor Max.  :\n\n0.26\n\nSHGC Max.  :\n\n0.43\n\nES Options Certified  :\n\n120\n\nNorthern Zone Options  :\n\n99\n\nNorth-Central Zone Options  :\n\n117\n\nSouthern Zone Options  :\n\n59\n\nSouth-Central Zone Options  :\n\n59\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.15\n\nME U-Factor Max  :\n\n0.20\n\nME SHGC Max  :\n\n0.41\n\nME Total ES Options Certified  :\n\n113\n\nME Northern Zone Options  :\n\n70\n\nME North-Central Zone Options  :\n\n112\n\nME Southern Zone Options  :\n\n57\n\nME South-Central Zone Options  :\n\n57\n\n  * Innotech Windows & Doors Inc. : INN-M-31 \n\nSeries Name:\n\nDefender 88PH+ XI Fixed\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.14\n\nU-Factor Max.  :\n\n0.26\n\nSHGC Max.  :\n\n0.46\n\nES Options Certified  :\n\n5,838\n\nNorthern Zone Options  :\n\n4,114\n\nNorth-Central Zone Options  :\n\n5,762\n\nSouthern Zone Options  :\n\n3,934\n\nSouth-Central Zone Options  :\n\n3,934\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.14\n\nME U-Factor Max  :\n\n0.20\n\nME SHGC Max  :\n\n0.42\n\nME Total ES Options Certified  :\n\n5,760\n\nME Northern Zone Options  :\n\n2,896\n\nME North-Central Zone Options  :\n\n5,730\n\nME Southern Zone Options  :\n\n3,934\n\nME South-Central Zone Options  :\n\n3,934\n\n  * Associated Materials, Inc. : ASO-A-105 \n\nSeries Name:\n\nA280/A580/S280/S580/A390 Fixed\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.07\n\nU-Factor Max.  :\n\n0.32\n\nSHGC Max.  :\n\n0.56\n\nES Options Certified  :\n\n7,318\n\nNorthern Zone Options  :\n\n2,774\n\nNorth-Central Zone Options  :\n\n4,559\n\nSouthern Zone Options  :\n\n4,861\n\nSouth-Central Zone Options  :\n\n3,450\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.07\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.36\n\nME Total ES Options Certified  :\n\n2,610\n\nME Northern Zone Options  :\n\n1,571\n\nME North-Central Zone Options  :\n\n2,202\n\nME Southern Zone Options  :\n\n1,492\n\nME South-Central Zone Options  :\n\n1,084\n\n  * Paradigm Window Solutions : PWS-A-16 \n\nSeries Name:\n\n8361 Fixed Casement\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.15\n\nU-Factor Max.  :\n\n0.32\n\nSHGC Max.  :\n\n0.51\n\nES Options Certified  :\n\n648\n\nNorthern Zone Options  :\n\n333\n\nNorth-Central Zone Options  :\n\n484\n\nSouthern Zone Options  :\n\n193\n\nSouth-Central Zone Options  :\n\n155\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.15\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.49\n\nME Total ES Options Certified  :\n\n153\n\nME Northern Zone Options  :\n\n108\n\nME North-Central Zone Options  :\n\n124\n\nME Southern Zone Options  :\n\n60\n\nME South-Central Zone Options  :\n\n41\n\n  * Slocomb Windows and Doors : SLC-K-3 \n\nSeries Name:\n\n400/500 Series Picture Window\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.15\n\nU-Factor Max.  :\n\n0.29\n\nSHGC Max.  :\n\n0.30\n\nES Options Certified  :\n\n157\n\nNorthern Zone Options  :\n\n82\n\nNorth-Central Zone Options  :\n\n144\n\nSouthern Zone Options  :\n\n100\n\nSouth-Central Zone Options  :\n\n93\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.15\n\nME U-Factor Max  :\n\n0.21\n\nME SHGC Max  :\n\n0.30\n\nME Total ES Options Certified  :\n\n75\n\nME Northern Zone Options  :\n\n41\n\nME North-Central Zone Options  :\n\n64\n\nME Southern Zone Options  :\n\n57\n\nME South-Central Zone Options  :\n\n46\n\n  * Innotech Windows & Doors Inc. : INN-M-32 \n\nSeries Name:\n\nDefender 88PH+ XI Dual Action\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nDual Action (Tilt Turn)\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.12\n\nU-Factor Max.  :\n\n0.25\n\nSHGC Max.  :\n\n0.40\n\nES Options Certified  :\n\n5,850\n\nNorthern Zone Options  :\n\n3,086\n\nNorth-Central Zone Options  :\n\n5,850\n\nSouthern Zone Options  :\n\n4,204\n\nSouth-Central Zone Options  :\n\n4,204\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.12\n\nME U-Factor Max  :\n\n0.20\n\nME SHGC Max  :\n\n0.36\n\nME Total ES Options Certified  :\n\n5,760\n\nME Northern Zone Options  :\n\n2,064\n\nME North-Central Zone Options  :\n\n5,760\n\nME Southern Zone Options  :\n\n4,204\n\nME South-Central Zone Options  :\n\n4,204\n\n  * MASTERCRAFT by Midwest Manufacturing : MID-M-1 \n\nSeries Name:\n\nMastercraft Steel Entry Door\n\nProduct Category:\n\nDoor\n\nProduct Type:\n\nSwinging Entry Door (Single)\n\nFrame Material:\n\nWood\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.01\n\nU-Factor Max.  :\n\n0.28\n\nSHGC Max.  :\n\n0.25\n\nES Options Certified  :\n\n136\n\nNorthern Zone Options  :\n\n118\n\nNorth-Central Zone Options  :\n\n118\n\nSouthern Zone Options  :\n\n135\n\nSouth-Central Zone Options  :\n\n135\n\nCLICK FOR MORE INFORMATION\n\n  * Pella Corporation : PEL-N-257 \n\nSeries Name:\n\nImpervia Direct Set\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nFiberglass\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.13\n\nU-Factor Max.  :\n\n0.32\n\nSHGC Max.  :\n\n0.59\n\nES Options Certified  :\n\n1,950\n\nNorthern Zone Options  :\n\n759\n\nNorth-Central Zone Options  :\n\n1,171\n\nSouthern Zone Options  :\n\n1,197\n\nSouth-Central Zone Options  :\n\n891\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.13\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.49\n\nME Total ES Options Certified  :\n\n523\n\nME Northern Zone Options  :\n\n295\n\nME North-Central Zone Options  :\n\n327\n\nME Southern Zone Options  :\n\n318\n\nME South-Central Zone Options  :\n\n181\n\n  * ProVia LLC. : PRD-N-84 \n\nSeries Name:\n\nFiberglass Entry Door\n\nProduct Category:\n\nDoor\n\nProduct Type:\n\nSwinging Entry Door (Single)\n\nFrame Material:\n\nSteel, Vinyl (or other plastic), Wood\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.01\n\nU-Factor Max.  :\n\n0.28\n\nSHGC Max.  :\n\n0.30\n\nES Options Certified  :\n\n38,144\n\nNorthern Zone Options  :\n\n35,512\n\nNorth-Central Zone Options  :\n\n35,512\n\nSouthern Zone Options  :\n\n37,984\n\nSouth-Central Zone Options  :\n\n37,984\n\nCLICK FOR MORE INFORMATION\n\n  * Alpen High Performance Products : ALP-M-20 \n\nSeries Name:\n\n400 Series Fixed\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nFiberglass\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.12\n\nU-Factor Max.  :\n\n0.30\n\nSHGC Max.  :\n\n0.52\n\nES Options Certified  :\n\n280\n\nNorthern Zone Options  :\n\n258\n\nNorth-Central Zone Options  :\n\n234\n\nSouthern Zone Options  :\n\n116\n\nSouth-Central Zone Options  :\n\n112\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.12\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.49\n\nME Total ES Options Certified  :\n\n250\n\nME Northern Zone Options  :\n\n187\n\nME North-Central Zone Options  :\n\n218\n\nME Southern Zone Options  :\n\n104\n\nME South-Central Zone Options  :\n\n100\n\n  * Great Lakes Window : GLW-M-128 \n\nSeries Name:\n\nComfortSmart Picture Window\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.14\n\nU-Factor Max.  :\n\n0.32\n\nSHGC Max.  :\n\n0.57\n\nES Options Certified  :\n\n29,438\n\nNorthern Zone Options  :\n\n13,037\n\nNorth-Central Zone Options  :\n\n19,327\n\nSouthern Zone Options  :\n\n16,924\n\nSouth-Central Zone Options  :\n\n15,295\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.14\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.30\n\nME Total ES Options Certified  :\n\n5,812\n\nME Northern Zone Options  :\n\n1,762\n\nME North-Central Zone Options  :\n\n2,624\n\nME Southern Zone Options  :\n\n4,948\n\nME South-Central Zone Options  :\n\n1,760\n\n  * Fibertec Fiberglass Windows and Doors : FWD-M-1 \n\nSeries Name:\n\n300 Fixed Window\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nFiberglass\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.16\n\nU-Factor Max.  :\n\n0.26\n\nSHGC Max.  :\n\n0.51\n\nES Options Certified  :\n\n54\n\nNorthern Zone Options  :\n\n47\n\nNorth-Central Zone Options  :\n\n48\n\nSouthern Zone Options  :\n\n16\n\nSouth-Central Zone Options  :\n\n16\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.16\n\nME U-Factor Max  :\n\n0.21\n\nME SHGC Max  :\n\n0.51\n\nME Total ES Options Certified  :\n\n46\n\nME Northern Zone Options  :\n\n35\n\nME North-Central Zone Options  :\n\n40\n\nME Southern Zone Options  :\n\n14\n\nME South-Central Zone Options  :\n\n12\n\n  * Euroline Windows : ANG-M-24 \n\nSeries Name:\n\nEnergeto Neo 76 Small Picture Window\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.12\n\nSHGC Min.  :\n\n0.16\n\nU-Factor Max.  :\n\n0.26\n\nSHGC Max.  :\n\n0.58\n\nES Options Certified  :\n\n964\n\nNorthern Zone Options  :\n\n829\n\nNorth-Central Zone Options  :\n\n796\n\nSouthern Zone Options  :\n\n331\n\nSouth-Central Zone Options  :\n\n331\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.12\n\nME SHGC Min.  :\n\n0.16\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.52\n\nME Total ES Options Certified  :\n\n665\n\nME Northern Zone Options  :\n\n507\n\nME North-Central Zone Options  :\n\n572\n\nME Southern Zone Options  :\n\n297\n\nME South-Central Zone Options  :\n\n281\n\n  * Associated Materials, Inc. : ASO-A-91 \n\nSeries Name:\n\n3004 Picture Window\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nVinyl (or other plastic)\n\nU-Factor Min.  :\n\n0.13\n\nSHGC Min.  :\n\n0.06\n\nU-Factor Max.  :\n\n0.32\n\nSHGC Max.  :\n\n0.55\n\nES Options Certified  :\n\n43,046\n\nNorthern Zone Options  :\n\n18,677\n\nNorth-Central Zone Options  :\n\n33,546\n\nSouthern Zone Options  :\n\n28,114\n\nSouth-Central Zone Options  :\n\n23,979\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.13\n\nME SHGC Min.  :\n\n0.06\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.39\n\nME Total ES Options Certified  :\n\n19,886\n\nME Northern Zone Options  :\n\n9,443\n\nME North-Central Zone Options  :\n\n15,970\n\nME Southern Zone Options  :\n\n14,132\n\nME South-Central Zone Options  :\n\n10,216\n\n  * Cascadia Windows Ltd. : CWL-K-25 \n\nSeries Name:\n\nUniversal Series Fixed Window Exterior Glazed\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nFiberglass\n\nU-Factor Min.  :\n\n0.13\n\nSHGC Min.  :\n\n0.06\n\nU-Factor Max.  :\n\n0.29\n\nSHGC Max.  :\n\n0.54\n\nES Options Certified  :\n\n392\n\nNorthern Zone Options  :\n\n150\n\nNorth-Central Zone Options  :\n\n339\n\nSouthern Zone Options  :\n\n259\n\nSouth-Central Zone Options  :\n\n245\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.13\n\nME SHGC Min.  :\n\n0.06\n\nME U-Factor Max  :\n\n0.21\n\nME SHGC Max  :\n\n0.44\n\nME Total ES Options Certified  :\n\n178\n\nME Northern Zone Options  :\n\n101\n\nME North-Central Zone Options  :\n\n162\n\nME Southern Zone Options  :\n\n119\n\nME South-Central Zone Options  :\n\n112\n\n  * Sierra Pacific Windows : SIE-N-149 \n\nSeries Name:\n\nDirect Glaze Plus\n\nProduct Category:\n\nWindow\n\nProduct Type:\n\nPicture Window\n\nFrame Material:\n\nWood\n\nU-Factor Min.  :\n\n0.13\n\nSHGC Min.  :\n\n0.10\n\nU-Factor Max.  :\n\n0.32\n\nSHGC Max.  :\n\n0.50\n\nES Options Certified  :\n\n2,367\n\nNorthern Zone Options  :\n\n810\n\nNorth-Central Zone Options  :\n\n1,563\n\nSouthern Zone Options  :\n\n1,663\n\nSouth-Central Zone Options  :\n\n1,222\n\nCLICK FOR MORE INFORMATION\n\nMost Efficient models are available within this series\n\n#####  Most Efficient models are available within this series:\n\nME U-Factor Min  :\n\n0.13\n\nME SHGC Min.  :\n\n0.10\n\nME U-Factor Max  :\n\n0.22\n\nME SHGC Max  :\n\n0.47\n\nME Total ES Options Certified  :\n\n863\n\nME Northern Zone Options  :\n\n388\n\nME North-Central Zone Options  :\n\n642\n\nME Southern Zone Options  :\n\n579\n\nME South-Central Zone Options  :\n\n382\n\nShow More Results\n\nThe following link will take to you to https://search.nfrc.org an external\nwebsite.\n\nPlease note that the NFRC directory loads slowly for large product lines and\nonly allows for reviewing one product line at a time.\n\nContinue to NFRC\n\nThe sash is the part of the window that holds the glass in the frame.\n\nThe minimum U-factor for a product line. A lower U-factor is more efficient\nand means more insulating power.\n\nThe maximum U-factor for a product line. A higher U-factor is less efficient\nand means less insulating power.\n\nThe minimum SHGC for a product line. A lower SHGC means more solar heat is\nblocked.\n\nThe maximum SHGC for a product line. A higher SHGC means less solar heat is\nblocked.\n\nThe total number of products certified as ENERGY STAR for a product line.\n\nThe number of options certified as ENERGY STAR for the northern zone\n\nThe number of options certified as ENERGY STAR for the north-central zone.\n\nThe number of options certified as ENERGY STAR for the south-central zone.\n\nThe number of options certified as ENERGY STAR for the southern zone.\n\n###  Follow us\n\n  * [ Facebook  ](http://www.facebook.com/energystar \"ENERGY STAR on Facebook\")\n  * [ Twitter  ](http://www.twitter.com/energystar \"ENERGY STAR on Twitter\")\n  * [ YouTube  ](http://www.youtube.com/epaenergystar \"ENERGY STAR on YouTube\")\n  * [ Our Blog  ](https://www.energystar.gov/products/ask-the-experts?s=footer \"ENERGY STAR Blog\")\n\n  * [ About ENERGY STAR ](https://www.energystar.gov/about?s=footer&s=footer)\n  * [ Help Center ](https://energystar.my.site.com/ENERGYSTAR/s/)\n  * [ Privacy ](https://www.energystar.gov/privacy_and_security_notice)\n\n",
                "url": "https://www.energystar.gov/productfinder/product/certified-windows/results"
            },
            "reason": "This is the official website of Energy Star, a U.S. government-backed program, providing a product finder for certified windows.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official Energy Star website with a product finder for certified windows.",
            "url": "https://www.energystar.gov/productfinder/product/certified-windows/results"
        },
        {
            "content": {
                "metadata": {
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                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://programs.dsireusa.org/system/program/detail/4488"
                },
                "page_content": "#  {{ program.name }}\n\n##  {{ msgWrapperText }}\n\n##  Program Overview\n\n  * {{ field.label }}: \n\n[ {{ field.getValue() }} ]({{ field.getValue\\(\\) }})\n\n##  Incentives\n\nThis program has {{ parameterSets.length }} Incentives\n\n  * {{ field.label }}: \n\n{{ field.getValue() }}\n\n##  Summary\n\n##  Authorities\n\n  * Name: \n\n  * Associated File: \n\n  * Date Enacted: \n\n{{ authority.enactedDateDisplay }}\n\n  * Effective Date: \n\n{{ authority.effectiveDateDisplay }}\n\n  * Expiration Date: \n\n{{ authority.expiredDateDisplay }}\n\n##  Contact\n\n  * [ {{ contact.contact.firstName+' '+contact.contact.lastName }} ]({{ contact.contact.websiteUrl }}) {{ contact.contact.firstName+' '+contact.contact.lastName }} \n\n  * Organization: \n\n{{ contact.contact.organizationName }}\n\n  * Address: \n\n{{ contact.contact.address }}  \n{{ contact.contact.city }}, {{ contact.contact.stateObject.abbreviation }} {{\ncontact.contact.zip }}\n\n  * Phone: \n\n{{ contact.contact.phone }}\n\n  * E-Mail: \n\n[ {{ contact.contact.email }} ](mailto:{{ contact.contact.email }})\n\n##  Share\n\n[ ]({{ subscribeToProgramUrl }})\n\n##  Memos\n\nLoading...\n\n  * by \n\n  * Loading memos... \n  * No memos \n  * Load More \n\n#  DSIRE works with EnergySage to help you go solar with confidence:\n\n  * Compare quotes from  vetted installers \n  * Get free, expert advice  (no phone calls required) \n  * Maximize savings with  incentives and financing \n\n  *   * \n\n##  About DSIRE  \u00ae\n\nDSIRE is the most comprehensive source of information on incentives and\npolicies that support renewables and energy efficiency in the United States.\nEstablished in 1995, DSIRE is operated by the N.C. Clean Energy Technology\nCenter at N.C. State University and receives support from [ EnergySage\n](https://www.energysage.com/?rc=dsire) .\n\n##  Follow NC Clean Energy Technology Center\n\n  * [ ](https://www.facebook.com/NCCleanTech \"Facebook\")\n  * [ ](http://instagram.com/nccleantech \"Instagram\")\n  * [ ](https://www.linkedin.com/company/nc-clean-energy-technology-center \"LinkedIn\")\n  * [ \ud835\udd4f  ](https://x.com/nccleantech \"X\")\n  * [ ](https://www.youtube.com/user/TheNCSolarCenter \"Youtube\")\n\n",
                "url": "https://programs.dsireusa.org/system/program/detail/4488"
            },
            "reason": "This is a program detail page on DSIRE (Database of State Incentives for Renewables & Efficiency), a comprehensive source for information on state, federal, and local incentives for renewable energy and energy efficiency.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Program detail page on DSIRE for renewable energy and energy efficiency incentives.",
            "url": "https://programs.dsireusa.org/system/program/detail/4488"
        },
        {
            "content": {
                "metadata": {
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                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.energync.org/business-opportunities-2/"
                },
                "page_content": "##  Partner Clean Energy  Business Opportunities\n\n####  DOE\u2019s Clean Energy to Communities (C2C) Expert Match Program\n\n**Issued By:** National Renewable Energy Lab (NREL)  \n**Topic Areas:** clean energy, local governments, utilities, community orgs,\ncolleges  \n**Application Deadline:** N/A\n\nNeed help advancing clean energy goals? If so, check out the National\nRenewable Energy Lab (NREL) Clean Energy to Communities (C2C) Expert Match\nprogram. It offers 40-60 hours of expert analytical support to communities,\nincluding local governments, utilities, community organizations, colleges, and\nothers seeking no-cost, short-term assistance to answer clean energy\nquestions. It\u2019s best suited for communities that need to make time-sensitive\ndecisions and learn about options for achieving clean energy goals by applying\nfor federal funding. Applicants get matched with researchers from DOE national\nlaboratories. For more info reach out to:  [ [email protected]  ](/cdn-\ncgi/l/email-protection#793a4b3a1c01091c0b0d14180d1a1139170b1c15571e160f)\n\n##\n\n####  Two Resources for Findings Federal Funding Opportunities\n\n**Issued By:** American Cities Climate Challenge and Interagency Working Group\non Coal & Power Plant Communities & Economic Revitalization  \n**Topic Areas:** federal funding, clean energy, local communities, economic\ndevelopment  \n**Application Deadline:** N/A\n\nCreated by the American Cities Climate Challenge, the Federal Funding\nOpportunities for Local Decarbonization (FFOLD) tool helps users learn about\nthe many federal funding opportunities that exist for advancing local\ndecarbonization efforts.\n\nNavigating these opportunities and making strategic decisions on how to best\nutilize the funds available can be challenging. This tool helps local\ngovernments prioritize and leverage existing federal funding to advance\nsystem-wide energy transition goals-from block grants and technical assistance\nto competitive grants, loans, and revolving loan funds.\n\nFind more information on and download the  [ FFOLD Tool\n](https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDgsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjA0MTkuNTY2NDA1NzEiLCJ1cmwiOiJodHRwczovL2NpdHlyZW5ld2FibGVzLm9yZy9yZXNvdXJjZXMvZmVkZXJhbC1mdW5kaW5nLW9wcG9ydHVuaXRpZXMtZm9yLWxvY2FsLWRlY2FyYm9uaXphdGlvbi1mZm9sZC8ifQ.6fXl_lDSgsyyOQuAEoQSJAP_PX_uiZTvTERGQbx0GN8/s/2159740196/br/130017466043-l)\nat the American Cities Climate Challenge website.\n\nThe Interagency Working Group on Coal & Power Plant Communities & Economic\nRevitalization created a centralized clearinghouse that features billions of\ndollars in existing federal funding sources. This government-wide list offers\neasy access to energy communities applying to fund infrastructure,\nenvironmental remediation, job creation, and community revitalization efforts.\n\nView the  [ Interagency Working Group\u2019s Clearinghouse\n](https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDksInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMjA0MTkuNTY2NDA1NzEiLCJ1cmwiOiJodHRwczovL2VuZXJneWNvbW11bml0aWVzLmdvdi9mdW5kaW5nLW9wcG9ydHVuaXRpZXMvIn0.4w-ch9osXSh8L7Cap9tbrwPhNdeMUbMIOcIngduVTuQ/s/2159740196/br/130017466043-l)\n.\n\n##\n\n####  Electric Coalition\u2019s EV Funding Finder\n\n**Issued By:** Electric Coalition (EC)  \n**Topic Areas:** electric vehicles, federal funding, transportation\nelectrification  \n**Application Deadlines:** N/A\n\nThe Electric Coalition (EC) has released a new tool to enable cities, states,\nbusinesses, and other partners to identify EV funding opportunities across the\ncountry. Sources will span the Infrastructure Investment and Jobs Act (IIJA),\nthe Inflation Reduction Act (IRA), and other programs that have increased EV\nand EV charging infrastructure eligibility. The finder, which will be updated\nregularly, can be found  [ here ](https://electrificationcoalition.org/ev-\nfunding-finder/) .\n\nPlease contact us at  [ [email protected]  ](/cdn-cgi/l/email-\nprotection#5d34333b2f3c2e292f283e29282f381d3831383e292f343b343e3c293432333e323c31342934323373322f3a)\nfor further questions.\n\n####\n\n##\n\n####  One North Carolina Small Business Program\n\n**Issued By:** NC Department of Commerce  \n**Topic Areas:** small business, technology, community development, clean\nenergy, workforce development  \n**Application Deadline:** Dependent of Solicitation Period and county status\n\nThe One North Carolina Small Business Program is comprised of two programs:\n\n  * The SBIR/STTR Phase I Incentive Funds Program (*** _new this year_ ) \n  * The SBIR/STTR Phase I Matching Funds Program. \n\nAs authorized by North Carolina General Statute \u00a7 143B\u2011437.80 the SBIR/STTR\nPhase I **_Incentive_ ** __ Funds Program provides reimbursement to qualified\nNC businesses for a portion of the costs incurred in preparing and submitting\nPhase I  [ Small Business Innovation Research (SBIR) or Small Business\nTechnology Transfer (STTR) ](https://www.sbir.gov/) proposals to federal\nagencies. The goal of the Incentive Program is to increase the number,\nquality, company and technology diversity, and geographic breadth of NC\napplications for Federal SBIR and STTR Phase I awards.\n\nAs authorized by North Carolina General Statute \u00a7 143B\u2011437.81 the SBIR/STTR\nPhase I **_Matching_ ** __ Funds Program awards matching funds to NC\nbusinesses who have received a federal  [ SBIR or STTR\n](https://www.sbir.gov/) award. The goals of the Matching Program are to help\nNC companies bridge the funding gap period between the final Phase I payment\nand the first Phase II payment in the Federal Program and increase the\nintensity of the research conducted under Phase I, making NC small businesses\nmore competitive in the competition for Phase II funds.\n\n_**If you have questions regarding the programs overall or eligibility, please\ncontact the** [ **OSTI staff** ](https://www.nccommerce.com/about-\nus/divisions-programs/science-technology-innovation#contacts) **.** _\n\n**_All of the following positions can be credited to: [ NASEO\u2019s The Week Ahead\n](https://www.naseo.org/the-week-ahead \"https://www.naseo.org/the-week-ahead\")\n_ **\n\n##\n\n####  DOE Notice of Intent: Electric Drive Vehicle Battery Recycling and\nSecond Life Applications\n\n**Issued By:** U.S. Department of Energy (DOE), The Office of Energy\nEfficiency and Renewable Energy (EERE)  \n**Topic Areas:** electric vehicles, recycling, second use battery  \n**Application Due Date:** TBD\n\nThe Office of Energy Efficiency and Renewable Energy released this  [ Notice\nof Intent ](https://eere-\nexchange.energy.gov/Default.aspx#FoaId599442c8-d25a-4091-96c0-30c0610a6710)\n(No. DE-FOA-0002679) to issue a Funding Opportunity Announcement. DOE\nanticipates making $60 million available to fund research, development, and\ndemonstration projects in two areas. First, Recycling Processing and\nReintegration into the Battery Supply Chain. Second, Second Use Battery Scale\nUp and Demonstration.\n\n####\n\n##\n\n####  Energy Efficiency & Renewable Energy (EERE) Funding Opportunity Exchange\n\n**Issued By:** US Department of Energy (DOE)  \n**Topic Areas:** clean energy, renewables, energy efficiency, building codes,\nclean energy  \n**Application Deadlines:** N/A\n\nStay up to date with the most recent DOE funding opportunities  [ here.\n](https://eere-\nexchange.energy.gov/Default.aspx#FoaIdac8901f4-e765-482b-9931-f425cb8e1fbd)\n\n####\n\n####  Donate\n\nContribute to NCSEA today and help ensure the future growth of clean energy in\nour state and region. Your support allows us to continue driving public policy\nand market solutions designed to enable clean energy jobs, economic\nopportunities, and affordable energy options for North Carolinians.\n\n[ Donate Now ](https://energync.app.neoncrm.com/forms/donation)\n\n####  Join\n\nBecome a member of NCSEA today to stay on top of the latest clean energy\nmarket and policy updates in North Carolina. We offer a wide variety of\nmembership levels for businesses, governments, non-profits, individuals, and\nstudents. Join our network of more than 300 members to help advance our clean\nenergy future.\n\n[ Join Today ](https://www.energync.org/get-involved/join/)\n\n[ ](/ \"Back to home\")\n\n  * Headquarters \n  * 4441 Six Forks Road \n  * Suite 106-250 \n  * Raleigh, NC, NC 27609 \n  * [ [email protected]  ](/cdn-cgi/l/email-protection#630a0d050c231414144d060d0611041a0d004d0c1104)\n  * [ P: 919.832.7601 ](tel:9198327601)\n  * [ Contact Us ](/cdn-cgi/l/email-protection#30595e565f704747471e555e554257495e531e5f4257)\n\n  * Quick Links \n  * Our Work \n  * [ Resources ](https://www.energync.org/resources/)\n  * [ Get Involved ](https://www.energync.org/get-involved/)\n  * [ About Us ](https://www.energync.org/about-us-2/)\n  * [ Donate ](https://www.energync.org/donate-2/)\n  * [ Partner Job Opportunities ](https://www.energync.org/partner-job-opportunities/?datefrom=01-01-2001&dateto=12-13-2034#resources)\n  * [ Careers and Internships at NCSEA ](https://www.energync.org/about-us-2/staff/?datefrom=01-01-2001&dateto=12-13-2034#resources)\n\n##  Stay up to Date\n\n[ Visit us on instagram  ](https://www.instagram.com/nccleanenergy/) [ Visit\nus on facebook  ](https://www.facebook.com/NCSustainableEnergyAssoc) [ Visit\nus on twitter  ](https://twitter.com/nccleanenergy) [ Visit us on linkedin\n](https://www.linkedin.com/company/north-carolina-sustainable-energy-\nassociation) [ Visit us on spotify\n](https://open.spotify.com/show/10ap5FotSe5ygrV706BqLH) [ Visit us on podcast\n](https://podcasts.apple.com/us/podcast/the-squeaky-clean-energy-\npodcast/id1463229314) [ Visit us on vimeo  ](https://vimeo.com/nccleanenergy)\n\n\u00a9 2025 NC Sustainable Energy Association\n\n",
                "url": "https://www.energync.org/business-opportunities-2/"
            },
            "reason": "This is the website of Energy NC, an organization focused on promoting energy efficiency and renewable energy in North Carolina, providing information on business opportunities.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Energy NC website on business opportunities in energy efficiency.",
            "url": "https://www.energync.org/business-opportunities-2/"
        },
        {
            "content": {
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                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://dnrec.delaware.gov/climate-coastal-energy/efficiency/energy-efficiency-investment-fund/participating-contractors/"
                },
                "page_content": "  * [ ](/)\n  * Divisions \n    * [ Office of the Secretary ](/office-of-the-secretary/)\n    * [ Div. of Climate, Coastal and Energy ](/climate-coastal-energy/)\n    * [ Div. of Air Quality ](/air/)\n    * [ Div. of Water ](/water/)\n    * [ Div. of Waste and Hazardous Substances ](/waste-hazardous/)\n    * [ Div. of Fish and Wildlife ](/fish-wildlife/)\n    * [ Div. of Parks and Recreation ](/parks/)\n    * [ Div. of Watershed Stewardship ](/watershed-stewardship/)\n  * About DNREC \n    * [ DNREC Divisions ](https://dnrec.delaware.gov/divisions/)\n    * [ Earth Day 2025 ](https://dnrec.delaware.gov/earth-day/)\n    * [ Boards and Councils ](https://dnrec.delaware.gov/boards-councils-committees/)\n    * [ Vision and Mission ](https://dnrec.delaware.gov/mission/)\n    * [ Delaware Coastal Cleanup ](https://dnrec.delaware.gov/coastal-cleanup/)\n    * [ Environmental Justice at DNREC ](https://dnrec.delaware.gov/environmental-justice/)\n    * [ Civil Rights and DNREC ](https://dnrec.delaware.gov/environmental-justice/title-vi-dnrec/)\n    * [ Work for DNREC! ](https://dnrec.delaware.gov/work-here/)\n    * [ Internships with DNREC ](https://dnrec.delaware.gov/internships/)\n    * [ Environmental Finance ](https://dnrec.delaware.gov/environmental-finance/)\n    * [ Natural Resources Police ](https://dnrec.delaware.gov/natural-resources-police/)\n    * [ Topics of Interest ](https://dnrec.delaware.gov/topics-of-interest/)\n    * [ Open Data ](https://dnrec.delaware.gov/dnrec-open-data/)\n    * [ Online Apps ](https://dnrec.delaware.gov/online-applications/)\n    * [ E-Mail Lists ](https://dnrec.delaware.gov/dnrec-e-mail-lists/)\n    * [ Volunteer with Us ](https://dnrec.delaware.gov/volunteer-with-dnrec/)\n    * [ Coastal Zone Act ](/coastal-zone-act/)\n  * Admin. Law \n    * [ Regulatory Development ](https://dnrec.delaware.gov/regulatory-development-process/)\n    * [ Regulations ](https://dnrec.delaware.gov/dnrec-regulations/)\n    * [ Environmental Permitting ](https://dnrec.delaware.gov/environmental-permitting/)\n    * [ Secretary\u2019s Orders ](https://dnrec.delaware.gov/secretarys-orders/)\n    * [ Public Notices ](https://dnrec.delaware.gov/dnrec-public-notices/)\n    * [ Public Meetings ](https://dnrec.delaware.gov/public-meeting-calendars/)\n    * [ Public Hearings ](https://dnrec.delaware.gov/public-hearings/)\n    * [ Environmental Appeals Board ](https://dnrec.delaware.gov/environmental-appeals-board/)\n    * [ Coastal Zone Industrial Control Board ](https://dnrec.delaware.gov/coastal-zone-act/industrial-control-board/)\n    * [ FOIA Requests ](https://dnrec.delaware.gov/foia/)\n  * DNREC News \n    * [ Newsroom ](https://dnrec.delaware.gov/newsroom/)\n    * [ Meetings and Events ](https://dnrec.delaware.gov/public-meeting-calendars/)\n    * [ Outdoor Delaware ](https://dnrec.delaware.gov/outdoor-delaware-magazine/)\n    * [ Brand and Logo ](https://dnrec.delaware.gov/brand-and-visual-identity/)\n    * [ Social Media ](https://dnrec.delaware.gov/dnrec-social-media/)\n    * [ E-Mail Lists ](https://dnrec.delaware.gov/dnrec-e-mail-lists/)\n    * [ Be the First to Know ](https://dnrec.delaware.gov/be-the-first-to-know/)\n  * [ Contact Us ](https://dnrec.delaware.gov/contacts/)\n\n[ ](http://delaware.gov)\n\nDNREC Menu\n\n  \n\n  \n\n[ Listen  ](//app-na.readspeaker.com/cgi-\nbin/rsent?customerid=7262&lang=en_us&readid=readSpeak_test&url=https://dnrec.delaware.gov/climate-\ncoastal-energy/efficiency/energy-efficiency-investment-fund/participating-\ncontractors/ \"Listen to this page using ReadSpeaker\")\n\n  \n\n**__ Climate, Coastal and Energy **\n\n  * [ Home __ ](/climate-coastal-energy/)\n  * [ Contact Us __ ](https://dnrec.delaware.gov/climate-coastal-energy/contacts/)\n  * [ I Am a \u2026 __ ](.menuTwo)\n    * [ I Am a Business Owner ](https://dnrec.delaware.gov/climate-coastal-energy/business-owner/)\n    * [ I Am a Resident of Delaware ](https://dnrec.delaware.gov/climate-coastal-energy/resident/)\n    * [ I Am in Local Government ](https://dnrec.delaware.gov/climate-coastal-energy/local-government/)\n  * [ [ Climate Action Plan __ ](.menuFive) ](http://#)\n    * [ Delaware\u2019s Climate Action Plan ](https://dnrec.delaware.gov/climate-plan/)\n    * [ Climate Change Basics ](https://dnrec.delaware.gov/climate-plan/basics/)\n    * [ Delaware Emissions ](https://dnrec.delaware.gov/climate-plan/emissions/)\n    * [ Minimizing Emissions ](https://dnrec.delaware.gov/climate-plan/minimizing-emissions/)\n    * [ Delaware Impacts ](https://dnrec.delaware.gov/climate-plan/impacts/)\n    * [ Minimizing Impacts ](https://dnrec.delaware.gov/climate-plan/minimizing-impacts/)\n    * [ Actions You Can Take ](https://dnrec.delaware.gov/climate-plan/your-actions/)\n    * [ Workforce Development ](https://dnrec.delaware.gov/climate-coastal-energy/climate-and-sustainability/workforce-development/)\n  * [ State Energy Office __ ](.menuNine)\n    * [ DNREC State Energy Office ](https://dnrec.delaware.gov/climate-coastal-energy/energy-office/)\n    * [ Governor\u2019s Energy Advisory Council ](https://dnrec.delaware.gov/climate-coastal-energy/energy-office/advisory-council/)\n    * [ Delaware Energy Hub ](https://energyhub.delaware.gov)\n    * [ Energy Security and Emergency Planning ](https://dnrec.delaware.gov/climate-coastal-energy/energy-office/energy-secuity/)\n  * [ [ Renewable Energy __ ](.menuOne) ](http://#)\n    * [ Renewable Energy ](https://dnrec.delaware.gov/climate-coastal-energy/renewable/)\n    * [ Renewable Energy Taskforce ](https://dnrec.delaware.gov/climate-coastal-energy/renewable/renewable-energy-taskforce/)\n    * [ Green Energy Program ](https://dnrec.delaware.gov/climate-coastal-energy/renewable/assistance/)\n    * [ Offshore Wind ](https://dnrec.delaware.gov/climate-coastal-energy/renewable/offshore-wind/)\n    * [ Renewable Energy Portfolio Standards ](https://dnrec.delaware.gov/climate-coastal-energy/renewable/portfolio-standards/)\n  * [ [ Energy Efficiency __ ](.menuSix) ](http://#)\n    * [ Energy Efficiency ](https://dnrec.delaware.gov/climate-coastal-energy/efficiency/)\n    * [ Delaware Energy Efficiency Advisory Council ](https://dnrec.delaware.gov/climate-coastal-energy/efficiency/energy-efficiency-advisory-council/)\n    * [ Energy Efficiency Investment Fund ](https://dnrec.delaware.gov/climate-coastal-energy/efficiency/energy-efficiency-investment-fund/)\n    * [ Cool Switch Low-Impact Refrigerant Program ](https://dnrec.delaware.gov/climate-coastal-energy/efficiency/cool-switch/)\n    * [ Building Energy Codes ](https://dnrec.delaware.gov/climate-coastal-energy/efficiency/building-energy-codes/)\n  * [ [ Transportation __ ](.menuThree) ](http://#)\n    * [ Clean Fuel and Transportation Initiatives ](https://dnrec.delaware.gov/climate-coastal-energy/clean-transportation/)\n    * [ The Delaware Clean Vehicle Rebate Program ](https://dnrec.delaware.gov/climate-coastal-energy/clean-transportation/vehicle-rebates/)\n    * [ Electric Vehicle Charging Equipment Rebates ](https://dnrec.delaware.gov/climate-coastal-energy/clean-transportation/ev-charging-equipment-rebates/)\n    * [ Workplace Charging ](https://dnrec.delaware.gov/climate-coastal-energy/clean-transportation/workplace-charging/)\n    * [ Alternative Fueling Stations ](https://dnrec.delaware.gov/climate-coastal-energy/clean-transportation/alternative-fuel-stations/)\n    * [ Delaware Clean Cities Coalition ](https://dnrec.delaware.gov/climate-coastal-energy/clean-transportation/delaware-clean-cities-coalition/)\n  * [ [ Communities __ ](.menuFour) ](http://#)\n    * [ Sustainable Communities ](https://dnrec.delaware.gov/climate-coastal-energy/sustainable-communities/)\n    * [ Sustainable Planning ](https://dnrec.delaware.gov/climate-coastal-energy/sustainable-communities/sustainable-planning/)\n    * [ Green Infrastructure Basics ](https://dnrec.delaware.gov/climate-coastal-energy/sustainable-communities/green-infrastructure/)\n    * [ Weatherization Assistance ](https://dnrec.delaware.gov/climate-coastal-energy/sustainable-communities/weatherization/)\n    * [ Low- to Moderate-Income Solar Pilot Program ](https://dnrec.delaware.gov/climate-coastal-energy/renewable/lmi-solar-pilot-program/)\n  * [ [ Coastal Programs __ ](.menuSeven) ](http://#)\n    * [ Coastal Management Program ](https://dnrec.delaware.gov/coastal-programs/coastal-management/)\n    * [ Delaware National Estuarine Research Reserve ](https://dnrec.delaware.gov/coastal-programs/research-reserve/)\n    * [ Science and Monitoring ](https://dnrec.delaware.gov/coastal-programs/coastal-science/)\n    * [ Conservation and Stewardship ](https://dnrec.delaware.gov/coastal-programs/conservation-stewardship/)\n    * [ Planning and Training ](https://dnrec.delaware.gov/coastal-programs/planning-training/)\n    * [ Education and Outreach ](https://dnrec.delaware.gov/coastal-programs/education-outreach/)\n  * [ Coastal Zone Act __ ](.menuEight)\n    * [ Coastal Zone Act Program ](https://dnrec.delaware.gov/coastal-zone-act/)\n    * [ Coastal Zone Map ](https://dnrec.maps.arcgis.com/apps/webappviewer/index.html?id=2bed4349f5594e13bcb215dab5dc7290)\n    * [ Application Materials ](https://dnrec.delaware.gov/coastal-zone-act/application-materials/)\n    * [ Coastal Zone Industrial Control Board ](https://dnrec.delaware.gov/coastal-zone-act/industrial-control-board/)\n    * [ History of the Act ](https://dnrec.delaware.gov/coastal-zone-act/history/)\n\nThis page lists contractors who are available and qualified to develop and\ncomplete projects funded under the [ Delaware Energy Efficiency Investment\nFund ](https://dnrec.delaware.gov/climate-coastal-energy/efficiency/energy-\nefficiency-investment-fund/) (EEIF).\n\n**[ Participating Contractor Webinar ](https://youtu.be/kUeH4kYpdpk) **  \nThe EEIF program held, and recorded, a webinar for participating contractors.  \n\nTo be considered as a participating contractor, firms must [ complete an\napplication ](https://documents.dnrec.delaware.gov/energy/eeif/EEIF-\nContractor-Application.pdf) listing their areas of expertise and documenting\ntheir Delaware and professional licensing and insurance. Applications must be\nsubmitted to [ DCCE.EnergyRebates@NV5.com ](mailto:DCCE.EnergyRebates@NV5.com)\nfor approval.\n\nThe listings below include the services offered by each participating\ncontractor, the areas of the state they serve and any designation they hold as\na small business or a minority-owned, woman-owned or veteran-owned business\nfrom the Delaware Office of Supplier Diversity.\n\nCompany  |  Contact  |  Region(s) Served  |  Designation   \n---|---|---|---  \n[ 1st Green Home ](https://www.1stgreenhome.com/home)  \n(Lighting, Energy Assessments)  |  James Park, President   \n[ info@1stgreenhome.com ](mailto:info@1stgreenhome.com)  \n443-216-9169  |  Statewide  |  Small Business, Minority Owned   \n[ Air Doctorx Inc ](https://www.airdoctorx.com)  \n(HVAC, Other)  |  Mark Sabean, Owner   \n[ mark@airdoctorx.com ](mailto:mark@airdoctorx.com)  \n302-492-1333  |  Statewide  |  Small Business   \n[ Ameresco ](https://www.ameresco.com)  \n(Lighting, HVAC, Energy Assessments, Retrofit/Tune-up, CHP)  |  Shelley Cohen   \n[ scohen@ameresco.com ](mailto:scohen@ameresco.com)  \n202-650-6251  |  Statewide  |  N/A   \n[ American Energy Corporation ](https://www.aec.us)  \n(Energy Assessments, Lighting, HVAC, Refrigeration)  |  Matthew Stewart, CEO   \n[ matt.stewart@aec.us ](mailto:matt.stewart@aec.us)  \n443-309-3105  |  New Castle County  |  N/A   \n[ Atlantic Refrigeration ](https://www.atlanticrefrigeration.com)  \n(HVAC, Food Service, Refrigeration)  |  Jamie Nickerson   \n[ jamie@atlanticrefrigeration.com ](mailto:jamie@atlanticrefrigeration.com)  \n302-856-9300  |  Sussex County, Southern Kent County  |  Small Business   \n[ ATR Electrical Services ](https://www.ATRelectricDE.com)  \n(Lighting)  |  Tammy Mellen   \n[ tammy@ATRelectricDE.com ](mailto:tammy@ATRelectricDE.com)  \n302-378-3708  |  Statewide  |  Small Business   \n[ Bausum & Duckett Electric ](https://bdelec.net)  \n(Lighting, Energy Assessments)  |  John Dorsey, Owner   \n[ johnd@bdelec.net ](mailto:johnd@bdelec.net)  \n443-497-4277  |  Kent County, Sussex County  |  Small Business   \n[ CoolSys Energy Solutions ](https://coolsys.com)  \n(Energy Assessments, Lighting, HVAC, Food Service, Refrigeration)  |  Lisa Ann Rosenstock   \n[ larosenstock@coolsys.com ](mailto:larosenstock@coolsys.com)  \n480-255-4477  |  Statewide  |  N/A   \n[ Denney Electric Supply \u2013 North ](https://www.denneyelectricsupply.com)  \n(Lighting)  |  Meghan Schwalm   \n[ mschwalm@denneyelectricsupply.com\n](mailto:mschwalm@denneyelectricsupply.com)  \n215-588-6339  |  New Castle County  |  N/A   \n[ Denney Electric Supply \u2013 South ](https://www.denneyelectric.net)  \n(Lighting)  |  Rod Gowen   \n[ rgowen@denneyelectric.net ](mailto:rgowen@denneyelectric.net)  \n302-934-8885  |  Kent County, Sussex County  |  Small Business   \n[ Diamond Electric ](https://diamondstateengineering.com)  \n(Lighting, HVAC, Food Service, Energy Assessments, Retrocommissioning / Tune-Ups, CHP, Other)  |  Thomas J. Hartley   \n[ thartley@diamondelectric.org ](mailto:thartley@diamondelectric.org)  \n302-697-3296  |  Statewide  |  Small Business   \n[ Diamond Mechanical ](https://diamondmechanical.net)  \n(Lighting, HVAC, Refrigeration, Energy Assessments, Retrocommissioning / Tune-Ups, CHP, Other)  |  Gary Fowler   \n[ gfowler@diamondmechanical.net ](mailto:gfowler@diamondmechanical.net)  \n302-697-7694  |  Statewide  |  N/A   \n[ Envirotemp LLC ](https://envirotemp.net)  \n(HVAC)  |  Mike Hindt, President   \n[ office@envirotemp.net ](mailto:office@envirotemp.net)  \n302-653-4073  |  Statewide  |  Small Business   \n[ Evolution ](https://evolutionsg.com)  \n(HVAC)  |  Robert Holdsworth, VP Engineering   \n[ rholdsworth@evolutionsg.com ](mailto:rholdsworth@evolutionsg.com)  \n877-280-4655  |  Statewide  |  Small Business   \n[ Fletcher Plumbing, Heating, & AC ](https://fletcherplumbingheatcool.com)  \n(HVAC, Plumbing)  |  Brian Fletcher, Owner   \n[ fletchershvac@yahoo.com ](mailto:fletchershvac@yahoo.com)  \n302-653-6277  |  Statewide  |  Small Business   \n[ HBS Energy Solution Inc. ](https://hbsenergysolution.com/)  \n(Lighting)  |  Shin Kim, President   \n[ hbsenergysolution@gmail.com ](mailto:hbsenergysolution@gmail.com)  \n443-864-5193  |  Statewide  |  Small Business, Minority Owned   \n[ Hentkowski, Inc. ](https://hentkowski.com)  \n(HVAC)  |  John Hentkowski, Jr, Sales   \n[ jj@hentkowski.com ](mailto:jj@hentkowski.com)  \n302-998-2257  |  New Castle County, Northern Kent County  |  Small Business   \n[ Hyett Refrigeration, Inc. ](https://www.hyettrefrigeration.com)  \n(HVAC, Refrigeration)  |  Ernie Hyett, President   \n[ info@hyettrefrigeration.com ](mailto:info@hyettrefrigeration.com)  \n302-684-4600  |  Sussex County  |  Small Business   \n[ Industrial Energy Services, Inc. (IES) ](https://iesnational.com)  \n(Lighting)  |  Sam Strickland, VP Sales   \n[ sstrickland@iesnational.com ](mailto:sstrickland@iesnational.com) |  Statewide  |  Small Business   \n[ LOWatts ](https://lowatts.com)  \n(Lighting)  |  Larry Savage   \n[ Info@lowatts.com ](mailto:Info@lowatts.com)  \n215-559-9191  |  Statewide  |  Small Business, Minority Owned   \n[ Masten Electric ](https://www.facebook.com/Mastenelectricinc)  \n(Lighting)  |  William Masten, Sonya Arrowood   \n[ office@mastenelectric.net ](mailto:office@mastenelectric.net)  \n302-653-4300  |  Statewide  |  Small Business   \n[ Modern Controls ](https://www.moderncontrols.com)  \n(HVAC, Refrigeration, Retrocommissioning/Building Tune-Ups)  |  Corey Ferguson   \n[ cferguson@moderncontrols.com ](mailto:cferguson@moderncontrols.com)  \n302-584-5146  |  Statewide  |  N/A   \n[ McIntyre Electric ](https://www.mcintyreselectric.com)  \n(Lighting, Refrigeration)  |  John McIntyre   \n[ mcelectric@comcast.net ](mailto:mcelectric@comcast.net)  \n410-546-1810  |  Sussex County  |  Small Business   \n[ National HVAC Services ](https://www.national-hvac.com)  \n(Lighting, HVAC, Refrigeration, Energy Assessment, Retrocommissioning/Building Tune-up, CHP, Energy Monitoring)  |  Jesse Hunter   \n[ jhunter@nationalhvacservice.com ](mailto:jhunter@nationalhvacservice.com)  \n302-629-9400  |  Statewide  |  N/A   \n[ Odle & Sons LLC ](https://odleandsons.com)  \n(Lighting, Electrical Enhancements)  |  Matt Odle   \n[ matt@odleandsons.com ](mailto:matt@odleandsons.com)  \n302-437-5509  |  New Castle County  |  Small Business   \n[ Pennoni ](https://www.pennoni.com)  \n(Energy Assesments, Retrocommisioning/Building Tune-ups, Property Condition Assessments, Engineering Design)  |  Liz McCormick   \n[ lmccormick@pennoni.com ](mailto:lmccormick@pennoni.com)  \n215-516-7194  |  Statewide  |  N/A   \n[ Pink Electrical Services ](https://www.pinkelectrical.com)  \n(Lighting, HVAC)  |  Joe Collison, Owner   \n[ kathy@pinkelectrical.com ](mailto:kathy@pinkelectrical.com)  \n302-363-0438  |  Statewide  |  Small Business   \n[ Seiberlich Trane ](https://www.seiberlich.com)  \n(Lighting, HVAC, Refrigeration, Energy Assessments, Retrocommissioning / Tune-Ups, CHP, Other)  |  Rob Seiberlich, President   \n[ contact@seiberlich.com ](mailto:contact@seiberlich.com)  \n302-395-0200  |  Statewide  |  Small Business   \n[ Spectrum Energy ](https://spectrumenergyllc.com)  \n(Lighting, HVAC, Refrigeration, Energy Assessments, Other)  |  Chet Knaup   \n[ info@spectrumenergyllc.com ](mailto:info@spectrumenergyllc.com)  \n443-832-4373  |  Statewide  |  N/A   \n[ Superior Electric ](https://www.superiorelectric.biz/)  \n(Lighting, Retrocommisioning/Bldg Tune-Ups)  |  Jamie Biscoe, Sr Project Manager   \n[ jamie@SuperiorElectric.biz ](mailto:jamie@SuperiorElectric.biz)  \n302-658-5949  |  Statewide  |  Small Business   \n[ ZeroDraft ](https://zerodraftmd.com)  \n(Energy Assessments, Lighting)  |  Kurt Pfund, Principal   \n[ info@zerodraftmd.com ](mailto:info@zerodraftmd.com)  \n410-321-5936  |  New Castle County  |  Small Business   \n  \nRelated Topics:  [ climate ](https://dnrec.delaware.gov/tag/climate/) , [\ncontractors ](https://dnrec.delaware.gov/tag/contractors/) , [ eeif\n](https://dnrec.delaware.gov/tag/eeif/) , [ efficiency\n](https://dnrec.delaware.gov/tag/efficiency/) , [ energy\n](https://dnrec.delaware.gov/tag/energy/) , [ funding\n](https://dnrec.delaware.gov/tag/funding/) , [ grants\n](https://dnrec.delaware.gov/tag/grants/)\n\n  \n\n  \n\n  \n\n[ ](/)  \n\n  * [ Office of the Secretary ](https://dnrec.delaware.gov/office-of-the-secretary/)\n  * [ Division of Air Quality ](https://dnrec.delaware.gov/air/)\n  * [ Division of Waste and Hazardous Substances ](https://dnrec.delaware.gov/waste-hazardous/)\n\n  * [ Division of Water ](/water/)\n  * [ Division of Climate, Coastal and Energy ](https://dnrec.delaware.gov/climate-coastal-energy/)\n  * [ Division of Fish and Wildlife ](https://dnrec.delaware.gov/fish-wildlife/)\n\n  * [ Division of Parks and Recreation ](/parks/)\n  * [ Division of Watershed Stewardship ](/watershed-stewardship/)\n\n  \n\n* * *\n\n[ __ ](https://www.facebook.com/DelawareDNREC/) [ __\n](https://www.instagram.com/delawarednrec/) [ __\n](https://www.youtube.com/user/DelawareDNREC) [ __\n](https://www.linkedin.com/company/delawarednrec) [ __\n](https://twitter.com/DelawareDNREC)\n\n  * [ DNREC Newsroom ](https://dnrec.delaware.gov/newsroom/)\n  * [ Public Meetings ](https://dnrec.delaware.gov/public-meeting-calendars/)\n  * [ Public Notices ](https://dnrec.delaware.gov/dnrec-public-notices/)\n  * [ DNREC Regulations ](https://dnrec.delaware.gov/dnrec-regulations/)\n\n  * [ Environmental Justice ](https://dnrec.delaware.gov/environmental-justice/)\n  * [ Non-Discrimination Notice ](https://dnrec.delaware.gov/environmental-justice/title-vi-dnrec/)\n  * [ DNREC Open Data ](https://dnrec.delaware.gov/dnrec-open-data/)\n  * [ FOIA Requests ](https://dnrec.delaware.gov/foia/)\n\n  * [ DNREC Divisions ](https://dnrec.delaware.gov/divisions/)\n  * [ About DNREC ](https://dnrec.delaware.gov/mission/)\n  * [ Work for DNREC! ](https://dnrec.delaware.gov/work-here/)\n  * [ Contact Us ](https://dnrec.delaware.gov/contacts/)\n\n\\+\n\n#  Delaware's Government\n\n* * *\n\n[ Delaware's Governor ](http://governor.delaware.gov)  \n[ State Agencies ](http://delaware.gov/topics/agencylist_alpha)  \n[ Elected Officials ](http://delaware.gov/topics/yourgovernment)  \n[ General Assembly ](http://legis.delaware.gov/)  \n[ Delaware Courts ](http://courts.delaware.gov/)  \n[ State Employees ](https://dhr.delaware.gov/personnel/employee-\nresources.shtml)  \n[ Cities & Towns ](http://delaware.gov/topics/municipalities)  \n[ Delaware State Code ](http://delcode.delaware.gov/)  \n[ State Regulations ](http://regulations.delaware.gov/)  \n[ Business First Steps ](http://firststeps.delaware.gov/)\n\n[ Phone Directory ](http://delaware.gov/phonedirectory/)  \n[ Locations Directory ](http://delaware.gov/locationsdirectory/)  \n[ Public Meetings ](https://publicmeetings.delaware.gov/)  \n[ Voting & Elections ](http://elections.delaware.gov)  \n[ Transparency ](http://delaware.gov/topics/transparency)  \n[ Health Insurance ](http://www.choosehealthde.com/)  \n[ Tax Center ](http://delaware.gov/topics/TaxCenter)  \n[ Personal Income Tax ](http://revenue.delaware.gov/pit_onlinefiling.shtml)  \n[ Privacy Policy ](http://delaware.gov/help/privacy)  \n[ Weather & Travel ](http://delaware.gov/topics/weatherpage)\n\n[ Contact Us ](http://delaware.gov/help/degov-contact.shtml)  \n[ Corporations ](http://corp.delaware.gov/)  \n[ Franchise Tax ](http://corp.delaware.gov/paytaxes.shtml)  \n[ Gross Receipts Tax ](https://grossreceiptstax.delaware.gov/grtpublic/)  \n[ Withholding Tax\n](https://dorweb.revenue.delaware.gov/EDIOnline/EDIOnline.dll)  \n[ Delaware Topics ](http://delaware.gov/topics/)  \n[ Help Center ](http://delaware.gov/help/)  \n[ Mobile Apps ](http://delaware.gov/topics/apps)  \n[ E-mail / Text Alerts ](http://delaware.gov/topics/subscribeemail)  \n[ Social Media ](https://delaware.gov/topics/socialmedia)\n\n* * *\n\n[ __ ](https://www.facebook.com/delaware.gov)\n\n[ __ ](https://twitter.com/delaware_gov/)\n\n[ __ ](http://www.flickr.com/groups/delaware_gov/)\n\n[ __ ](https://www.youtube.com/user/DelawareGovernment)\n\n[ __ ](https://www.instagram.com/delaware_gov/)\n\n  \n\nMake Text Size Smaler  __ Reset Text Size  __ Make Text Size Bigger  __\n\n  \n  \n\nBuilt by the [ Government Information Center ](http://gic.delaware.gov)  \n\u00a9MMXXV [ Delaware.gov ](http://delaware.gov)\n\n\\-\n\n",
                "url": "https://dnrec.delaware.gov/climate-coastal-energy/efficiency/energy-efficiency-investment-fund/participating-contractors/"
            },
            "reason": "This is the official website of the Delaware Department of Natural Resources and Environmental Control, providing information on participating contractors in the Energy Efficiency Investment Fund.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' energy efficiency",
            "summary": "Official Delaware government website on energy efficiency contractors.",
            "url": "https://dnrec.delaware.gov/climate-coastal-energy/efficiency/energy-efficiency-investment-fund/participating-contractors/"
        },
        {
            "content": {
                "metadata": {
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                    "origin": "public",
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                    "source": "https://njcleanenergy.com/main/public-reports-and-library/financial-reports/clean-energy-program-financial-reports"
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the archive of prior NJCEP Quarterly Reports visit **[ this page\n](https://njcleanenergy.com/main/public-reports-and-library/financial-\nreports/clean-energy-program-financial-reports/financial-report-archive) ** .\n\n  * [ 1Q FY25 ](/files/file/Quarterly%20Reports/FY25/1Q%20FY25%20Quarterly%20Report%20FINAL.pdf) (PDF) \n  * [ 2Q FY25 ](https://njcepfiles.s3.us-east-1.amazonaws.com/2Q+FY25+Quarterly+Report+-+FINAL.pdf) (PDF) \n\n* * *\n\n** _Statewide Compilation Reports_ **\n\n** Fiscal Year 2024  **\n\nTo view the archive of prior Statewide Compilation and Utility Quarterly\nReports visit **[ this page ](https://www.njcleanenergy.com/main/public-\nreports-and-library/financial-reports/utility-quarterly-reports-archives) ** .\n\n  * [ 2Q FY24 ](/files/file/UTILITY%20REPORTING/2Q%20FY24/Statewide%20Compilation%20Report%20-%202Q%20FY24%20-%20FINAL.xlsx) (Excel) / [ 2Q FY24 ](/files/file/UTILITY%20REPORTING/2Q%20FY24/Statewide%20Compilation%20Report%20-%202Q%20FY24%20-%20FINAL.pdf) (PDF) \n  * **[ 4Q FY24 ](/files/file/BPU/Compilation%20Reports/Statewide%20Report%20FY24%20FINAL%20-%20EXCEL%20v2.xlsx) ** (Excel) / **[ 4Q FY24 ](/files/file/BPU/Compilation%20Reports/Statewide%20Report%20FY24%20FINAL%20-%20EXCEL%20v2.pdf) ** (PDF) **_(revised 01.30.25)_ **\n\n** _Utility Quarterly Reports_ **  \n\n  * **Atlantic City Electric |  ACE **\n    * 1Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20ACE%20Q1%202023%20Annual%20Report.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20ACE%20PY3%20Q1%202023%20Reporting%20Tables.xlsx)\n    * 2Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/2Q%20FY24/ACE%20-%20PY3%20Q2%202024%20Annual%20Report%20-%20EO20090621%20-%202-29-2024%20-%20Corrected%20%20Refiled%20-%206-10-2024.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/2Q%20FY24/ACE%20PY3%20Q2%20Reporting%20Tables%20-%202-29-2024%20Final.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/ACE%20-%20PY3%20Q3%20Annual%20Report%20-%20EO20090621%20-%205-29-2024%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/ACE%20PY3%20Q3%20Reporting%20Tables%20-%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/ACE%20-%20PY24Q4%20Annual%20Report%20-%20EO20090621%20-%2008-29-2024%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/ACE%20PY3%20Q4%20Reporting%20Tables%20Final%20Version.xlsx)\n\n  * **Elizabethtown Gas |  ETG **\n    * 1Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20ETG%20Quarterly%20Report%20Executive%20Summary%20PY24%20Q1.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20ETG%20Quarterly%20Report%20Tables%20PY24%20Q1.xlsx)\n    * 2Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/2Q%20FY24/ETG%20-%20NJ%20Quarterly%20Report%20-%20Executive%20Summary%20PY23-24%20Q2%20-%20Final.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/2Q%20FY24/ETG%20-%20NJ%20Quarterly%20Report%20Tables%20PY23-24%20Q2%20-%20Final.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/ETG%20-%20Quarterly%20Report%20-%20Executive%20Summary%20PY24%20Q3%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/ETG%20-%20Quarterly%20Report%20Tables%20PY24%20Q3%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](https://njcepfiles.s3.amazonaws.com/ETG+-+NJ+Quarterly+Report+-+Executive+Summary+PY23-24+Q4+-+FINAL+Version.pdf) , [ Appendix ](https://njcepfiles.s3.amazonaws.com/ETG+-+NJ+Quarterly+Report+Tables+PY23-24+Q4+-+FINAL+Version.xlsx)\n\n  * **Jersey Central Power and Light |  JCPL **\n    * 1Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20JCPL%20PY24Q1%20Report%20Executive%20Summary.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20JCPL%20Report%20Tables%20PY24%20Q1.xlsx)\n    * 2Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/2Q%20FY24/JCPL%20-%20NJ%20PY24Q2%20Report%20-%20Executive%20Summary%20PY24Q2-%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/2Q%20FY24/JCPL%20PY24%20NJ%20EE%20Quarterly%20Report%20Tables%20w_%20calc%20tab%20Final%20Version.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/JCPL%20PY24Q3%20Report%20-%20Executive%20Summary%20PY24Q3%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/JCPL%20PY24%20Q3%20EE%20Quarterly%20Report%20Tables%20w_%20calc%20tab%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](/files/file/Utilities/Quarterly%20Reports/4Q%20FY24/JCPL%20PY24Q4%20Report%20-%20Executive%20Summary%20PY24Q4-Revised%20Final%209_23_24.pdf) , [ Appendix ](/files/file/Utilities/Quarterly%20Reports/4Q%20FY24/JCPL%20PY24%20Q4%20EE%20Quarterly%20Report%20Tables%20w_%20calc%20tab%20v2%20Final.xlsx)\n\n  * **New Jersey Natural Gas |  NJNG **\n    * 1Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20NJNG%20Quarterly%20Report%20Executive%20Summary%202024%20Q1%20-%2011_30_23.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20NJNG%20Quarterly%20Reporting%20Tables-Gas%202024%20Q1%20-%2011_30_23.xlsx)\n    * 2Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/2Q%20FY24/NJNG%20-%20NJ%20Quarterly%20Report%20Executive%20Summary%20December%202023%20-%202_29_24%20FINAL%20VERSION.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/2Q%20FY24/NJNG%20-%20NJ%20Quarterly%20Reporting%20Tables-Gas%20December%202023%20Final%20Version.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/NJNG%20Quarterly%20Report%20Executive%20Summary%20PY24%20Q3%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/NJNG%20Quarterly%20Reporting%20Tables%20-%20Gas%20-%20PY24%20Q3%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](/files/file/Utilities/Quarterly%20Reports/4Q%20FY24/NJNG%20Quarterly%20Report%20Executive%20Summary%20June%202024%20-%209_6_24%20Final%20Version.pdf) , [ Appendix ](/files/file/Utilities/Quarterly%20Reports/4Q%20FY24/NJNG%20Quarterly%20Reporting%20Tables-Gas%20June%202024%20-%209_6_24%20Final.xlsx)\n\n  * **Public Service Electric and Gas |  PSEG **\n    * 1Q FY24: [ Report ](https://njcepfiles.s3.amazonaws.com/Final+Version+PSEG+PY24+Q1+-+CEF-EE+Report.pdf) , [ Appendix ](https://njcepfiles.s3.amazonaws.com/Final+Version+PSEG+NJ+EE+Quarterly+Report+Table+PY24+Q1.xlsx)\n    * 2Q FY24: [ Report ](https://njcepfiles.s3.amazonaws.com/PSEG+-+PY24+Q2+CEF-EE+Report+Final+Version.pdf) , [ Appendix ](https://njcepfiles.s3.amazonaws.com/PSEG+EE+Quarterly+Report+Table+PY24+Q2+Final+Version.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/PSEG%20-%20CEF-EE%20BPU%20Quarterly%20Report%20PY24%20Q3%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/PSEG%20EE%20Quarterly%20Report%20Table%20PY24%20Q3-%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](https://njcepfiles.s3.amazonaws.com/PSEG+PY24+Q4+Quarterly+Report+Final+Version.pdf) , [ Appendix ](https://njcepfiles.s3.amazonaws.com/PSEG+EE+Quarterly+Report+Table+PY24+Q4+Final+Version.xlsx)\n\n  * **Rockland Electric Company |  RECO **\n    * 1Q FY23: [ Report ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20RECO%20Quarterly%20Report%20PY24%20Q1.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20RECO%20Quarterly%20Report%20Tables%20PY24%20Q1.xlsx)\n    * 2Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/2Q%20FY24/RECO%20-%20NJ%20Quarterly%20Report%20-%20PY3%20Q2%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/2Q%20FY24/RECO%20EE%20Quarterly%20Report%20Tables%20PY3%20Q2_2%2029%2024%20FINAL.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/RECO%20-%20NJ%20Quarterly%20Report%20-%20PY3%20Q3%20REVISED_7%208%2024%20Final%20Version.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/RECO%20EE%20Quarterly%20Report%20Tables%20PY3%20Q3%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](/files/file/Utilities/Quarterly%20Reports/4Q%20FY24/RECO%20-%20NJ%20Quarterly%20Report%20-%20PY3%20Q4_8%2029%2024%20Final%20Version.pdf) , [ Appendix ](/files/file/Utilities/Quarterly%20Reports/4Q%20FY24/RECO%20-%20NJ%20Quarterly%20Report%20Tables%20PY3%20Q4_8%2029%2024%20Final%20Version.xlsx)\n\n  * **South Jersey Gas |  SJG **\n    * 1Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20SJG%20Quarterly%20Report%20Executive%20Summary%20PY24%20Q1.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/1Q%20FY24/Final%20Version%20SJG%20Quarterly%20Report%20Tables%20PY24%20Q1.xlsx)\n    * 2Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/2Q%20FY24/SJG%20-%20NJ%20Quarterly%20Report%20-%20Executive%20Summary%20PY23-24%20Q2%20-%20Revised%20-%20Final.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/2Q%20FY24/SJG%20-%20Quarterly%20Report%20Tables%20PY24%20Q2%20-%20Final%20Version.xlsx)\n    * 3Q FY24: [ Report ](/files/file/UTILITY%20REPORTING/3Q%20FY24/SJG%20-%20NJ%20Quarterly%20Report%20-%20Executive%20Summary%20PY23-24%20Q3%20-%20Revised%20-%20FINAL.pdf) , [ Appendix ](/files/file/UTILITY%20REPORTING/3Q%20FY24/SJG%20-%20Quarterly%20Report%20Tables%20PY23-24%20Q3%20Final%20Version.xlsx)\n    * 4Q FY24: [ Report ](https://njcepfiles.s3.amazonaws.com/SJG+-+NJ+Quarterly+Report+-+Executive+Summary+PY23-24+Q4+-+FINAL+Version.pdf) , [ Appendix ](https://njcepfiles.s3.amazonaws.com/SJG+-+NJ+Quarterly+Report+Tables+PY23-24+Q4+-+FINAL+Version.xlsx)\n\n> NJCEP Progress Towards Goals & Quarterly Reports  \n---  \n|  [ Fourth Quarter FY18 Report ](/files/file/FINAL%20REPORT%20-%204QFY18.pdf)  \n|  [ Jun 2018 ](/files/file/Library/PTG%20June%202018%20-%20FY18%20v3.pdf)  \n|  [ May 2018\n](/files/file/Library/Financial_Energy_Saving_Reports/PTG%20May%202018%20-%20FY18%20-%20V2.pptx)  \n|  [ Apr 2018 ](/files/file/Library/PTG/PTG%20April%202018%20-%20FY18.pdf)  \n|  [ Mar 2018\n](/files/file/Library/PTG/PTG%20March%202018%20-%20FY18%20-%20with%20Comfort%20Partners.pdf)  \n|  [ Feb 2018\n](/files/file/Library/PTG%20February%202018%20-%20FY18%20-%20Final.pdf)  \n|  [ Jan 2018\n](/files/file/Committee%20Meeting%20Postings/ee/2018/FY18%20PTG%20January%202018%20-%20Final.pdf)  \n|  [ Second Quarter FY18 Report\n](/files/file/Library/Financial_Energy_Saving_Reports/BPURpt_NJCEP_2QFY18_Final.pdf)  \n|  [ Dec 2017 ](/files/file/PTG%20December%202017%20-%20FY18%20Final%20v2.pdf)  \n|  [ Nov 2017\n](/files/file/Library/Financial_Energy_Saving_Reports/PTG%20November%202017%20-%20FY18.pdf)  \n|  [ Oct 2017 ](/files/file/PTG%20October%202017%20-%20FY18.pdf)  \n|  [ Sep 2017\n](/files/file/Library/Financial_Energy_Saving_Reports/PTG%20September%202017%20-%20FY18.pdf)  \n|  [ Aug 2017\n](/files/file/Library/Financial_Energy_Saving_Reports/PTG%20August%202017%20-%20FY18.pdf)  \n|  [ Jul 2017\n](/files/file/Library/Financial_Energy_Saving_Reports/PTG%20July%202017.pdf)  \nNJCEP Cumulative Results  \n|  \\------  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nNJCEP Financial and Energy Savings Report  \n---  \n|  [ 4th Quarter Fiscal Year 2017\n](/files/file/Library/Financial_Energy_Saving_Reports/BPURpt_NJCEP_4QFY17_FINAL.pdf)  \nNJCEP Cumulative Results  \n|  \\------  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nNJCEP Financial and Energy Savings Report  \n---  \n|  [ 4th Quarter Fiscal Year 2016\n](/files/file/Library/Financial_Energy_Saving_Reports/BPURpt_NJCEP_4QFY16_FINAL.pdf)  \nNJCEP Cumulative Results  \n|  \\------  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nNJCEP Financial and Energy Savings Report  \n---  \n|  [ 4Q FY2015 ](/files/file/Library/BPURpt_NJCEP_4QFY2015_FINAL.pdf)  \nNJCEP Cumulative Results  \n|  [ Results 2001-through fiscal year 2015\n](/files/file/2001-FY2015%20Program%20Results%20-Final%20FY2015.xls)  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nNJCEP Goals - Progress to Date  \n---  \n|  [ 2nd Quarter FY15 Report\n](/files/file/NJCEP%20PTG%20Month%20Report%20-%202QFY15_FINAL.pdf)  \nNJCEP Cumulative Results  \n|  [ Results 2001-through fiscal year 2014\n](/files/file/Library/2001-FY2014%20Program%20Results%20-Final%20FY2014_WebSite.xls)  \nNJCEP Financial and Energy Savings Reports  \n|  [ 1st Quarter Results\n](/files/file/NJCEP%20PTG%20Month%20Report%20-%20SEP2014.pdf) (fiscal year\n2015)  \n|  [ 4Q Fiscal Year 2014\n](/files/file/Library/BPURpt_NJCEP_4QFY2014_FINAL\\(1\\).pdf)  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nTreasury Fiscal Reports  \n|  [ Jan 2014 ](/files/file/Library/Jan14FA.pdf)  \nNJCEP Goals - Progress to Date  \n---  \n|  [ Dec 2013\n](/files/file/Library/NJCEP%20PTG%20Month%20Report%20-%20DEC2013\\(1\\).pdf)  \n|  [ Nov 2013\n](/files/file/Library/NJCEP%20PTG%20Month%20Report%20-%20NOV2013.pdf)  \nNJCEP Cumulative Results  \n|  [ 2001-2013 Results\n](/files/file/Library/2001-2012\\(18Mth\\)%20Program%20results%20-%20Final%2006172014.xls)  \nNJCEP Financial and Energy Savings Reports  \n|  [ 2Q 2013 Report ](/files/file/Library/BPURpt_2012-2013_FINAL.pdf)  \n  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nTreasury Fiscal Reports  \n|  [ Dec 2013 ](/files/file/Dec13FA.pdf)  \n|  [ Nov 2013 ](/files/file/Nov%20FA14.PDF)  \n|  [ Oct 2013 ](/files/file/Library/Oct%2013%20FA.pdf)  \n|  [ Sep 2013 ](/files/file/Library/Sep%20FA.PDF)  \n|  [ Aug 2013 ](/files/file/Library/Aug%20FA\\(1\\).pdf)  \n|  [ Jul 2013 ](/files/file/Library/July%20FA\\(1\\).pdf)  \n|  [ Jun 2013 ](/files/file/Library/June%20FA.PDF)  \n|  [ May 2013 ](/files/file/Library/May%20FA.pdf)  \n|  [ Apr 2013 ](/files/file/April%20FA.PDF)  \n|  [ Mar 2013 ](/files/file/FA%20report%20Mar%202013.pdf)  \n|  [ Feb 2013 ](/files/file/Library/FA%20report%20Feb%202013.PDF)  \n|  [ Jan 2013 ](/files/file/Library/FA%20report%20Jan%202013.pdf)  \nNJCEP Goals - Progress to Date  \n---  \n|  [ Dec 2012\n](/files/file/Library/Financial_Energy_Saving_Reports/4Q12%20NJCEP%20Report%20-%20Dec%202012.pdf)  \nNJCEP Cumulative Results  \n|  [ 2001-2012 Results ](/files/file/2001-2012%20Program%20Results.xls)  \n|  [ 2001-2013 Results (18 month version)\n](/files/file/Library/2001-2012\\(18Mth\\)%20Program%20results%20-%20Final%2006172014.xls)  \nHistorical NJCEP Financial/Energy Savings Reports  \n|  [ 4Q 2012 Report\n](/files/file/Library/Financial_Energy_Saving_Reports/4Q12%20NJCEP%20Report%20-%20Dec%202012.pdf)  \n  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nTreasury Fiscal Reports  \n|  [ Dec 2012\n](/files/file/Library/Financial_Energy_Saving_Reports/FA%20report%20Dec%202012.pdf)  \n|  [ Nov 2012\n](/files/file/Library/Financial_Energy_Saving_Reports/FA%20report%20Nov%202012.pdf)  \n|  [ Oct 2012\n](/files/file/Library/Financial_Energy_Saving_Reports/FA%20report%20Oct%202012.pdf)  \n|  [ Sep 2012\n](/files/file/Library/Financial_Energy_Saving_Reports/FA%20report%20Sep%202012.pdf)  \n|  [ Aug 2012 ](/files/file/Library/Aug%20FA.pdf)  \n|  [ Jul 2012 ](/files/file/Library/July%20FA.pdf)  \n|  [ Jun 2012 ](/files/file/June%20FA%20report.pdf)  \n|  [ May 2012 ](/files/file/Library/May%202012%20FA%20Report.pdf)  \n|  [ Apr 2012 ](/files/file/Library/April%20FA.pdf)  \n|  [ Mar 2012 ](/files/file/Library/March%20FA.pdf)  \n|  [ Feb 2012 ](/files/file/Library/Feb%20FA.pdf)  \n|  [ Jan 2012 ](/files/file/Library/Fiscal%20Jan%202012.pdf)  \nNJCEP Goals - Progress to Date  \n---  \n|  [ 2011 ](/files/file/Library/BPURpt4Q11_NJCEP_FINAL_UPDATED_20120312.pdf)  \nResults Reporting  \n|  [ 2001-2011 Program Results\n](/files/file/Library/2001-2011%20Program%20results\\(2\\).xls)  \nHistorical NJCEP Financial/Energy Savings Reports  \n|  [ 2011 Report\n](/files/file/Library/BPURpt4Q11_NJCEP_FINAL_UPDATED_20120312.pdf)  \nHistorical ARRA Reports  \n|  [ 2011 Report\n](/files/file/Library/ARRA%20Spending%20as%20of%20123111%20-%20By%20Program%20v3%20-%20Values%20Only.xls)  \nTreasury Fiscal Reports  \n|  [ Dec 2011 ](/files/file/Library/Dec%202011%20Fiscal.pdf)  \n|  [ Oct 2011 ](/files/file/Library/Oct%202011%20FA%20report.pdf)  \n|  [ Sep 2011 ](/files/file/Library/sept%20fiscal.pdf)  \n|  [ Aug 2011 ](/files/file/Library/august%20fiscal.pdf)  \n|  [ Jul ](/files/file/Library/0584_001.pdf) [ 2001\n](/files/file/Library/0584_001.pdf)  \n|  [ Jun 2011 ](/files/file/Library/0576_001.pdf)  \n|  [ May 2011 ](/files/file/Library/May%202011%20Fiscal%20Report.pdf)  \n|  [ Apr 2011 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Sep 2010 ](/files/file/Library/Sept%202010%20CEP%20Fiscal%20Report.pdf)  \n|  [ Aug 2010 ](/files/file/Library/Aug%202010%20CEP%20Fiscal%20Report.pdf)  \n|  [ Jul 2010 ](/files/file/Library/NJCEP%20July%202010%20Fiscal%20Report.pdf)  \n|  [ Jun 2010 ](/files/file/Library/NJCEP%20June%202010%20Fiscal%20Report.pdf)  \n|  [ May 2010 ](/files/file/Library/May%202010%20NJCEP%20Fiscal%20Report.pdf)  \n|  [ Apr 2010\n](/files/file/Library/April%202010%20CEP%20Financial%20Report.pdf)  \n|  [ Mar 2010\n](/files/file/Library/March%202010%20CEP%20Financial%20Report.pdf)  \n|  [ Feb 2010 ](/files/file/Library/NJCEP%20Feb%202010%20Fiscal%20Report.pdf)  \n|  [ Jan 2010 ](/files/file/Library/NJCEP%20Jan%202010%20Fiscal%20Report.pdf)  \nNJCEP Goals - Progress to Date  \n---  \n|  [ Nov 2009\n](/files/file/Library/NJCEP%20PTG%20Monthly%20Report%20-%20Novemeber_Update_2_17.pdf)  \nResults Reporting  \n|  [ 2001-2011 Program Results\n](/files/file/Library/2001-2011%20Program%20results\\(2\\).xls)  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2008\n](/files/file/Library/September%202008%20CEP%20Monthly%20Report.pdf)  \n|  [ Aug 2008 ](/files/file/Library/August%202008%20Fiscal%20Report.pdf)  \n|  [ Jul 2008 ](/files/file/July%20Cost%20Report.pdf)  \n|  [ Jun 2008 ](/files/file/June%20Cost%20Report.pdf)  \n|  [ May 2008 ](/files/file/May%202008%20Clean%20Energy%20Cost%20Report.pdf)  \n|  [ Apr 2008 ](/files/file/April%202008%20Fiscal%20Report.pdf)  \n|  [ Mar 2008 ](/files/file/March%202008%20Fiscal%20Report.pdf)  \n|  [ Feb 2008 ](/files/file/Feb%202008%20Fiscal%20Report.pdf)  \n|  [ Jan 2008 ](/files/file/jan%20report.pdf)  \nNJCEP Goals - Progress to Date  \n---  \n|  N/A  \nResults Reporting  \n|  [ 2001-2011 Program Results\n](/files/file/Library/2001-2011%20Program%20results\\(2\\).xls)  \nHistorical NJCEP Financial/Energy Savings Reports  \n|  [ 2007 Report\n](/files/file/Library/BPURpt4Q07Master%20Rev%20081908%20Final.pdf)  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nTreasury Fiscal Reports  \n|  N/A  \nNJCEP Goals - Progress to Date  \n---  \n|  N/A  \nResults Reporting  \n|  [ 2001-2011 Program Results\n](/files/file/Library/2001-2011%20Program%20results\\(2\\).xls)  \nHistorical NJCEP Financial/Energy Savings Reports  \n|  [ 2006 Report ](/files/file/BPURpt4Q06Final.pdf)  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nTreasury Fiscal Reports  \n|  N/A  \nNJCEP Goals - Progress to Date  \n---  \n|  N/A  \nResults Reporting  \n|  [ 2001-2011 Program Results\n](/files/file/Library/2001-2011%20Program%20results\\(2\\).xls)  \nHistorical NJCEP Financial/Energy Savings Reports  \n|  [ 2005 Report ](/files/file/QuarterlyReport2005.pdf)  \nHistorical ARRA Reports  \n|  ARRA reports are available for 2010 and 2011 only.  \nTreasury Fiscal Reports  \n|  N/A  \nNJCEP Goals - Progress to Date  \n---  \n|  N/A  \nResults Reporting  \n|  [ 2001-2011 Program Results\n](/files/file/Library/2001-2011%20Program%20results\\(2\\).xls)  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            "content": {
                "metadata": {
                    "ext_id": "436ce610-5bf6-474a-a68c-5c5a72eccc14",
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                    "source": "https://www.fincen.gov/resources/statutes-regulations/guidance/guidance-determining-eligibility-exemption-currency"
                },
                "page_content": "Skip to main content\n\n#  Guidance on Determining Eligibility for Exemption from Currency Transaction\nReporting Requirements\n\nPDF\n\n[ FIN-2012-G003.pdf\n](https://www.fincen.gov/sites/default/files/guidance/FIN-2012-G003.pdf \"Open\nfile in new window\") 215.13 KB\n\nFIN-2012-G003\n\nIssued Date\n\nJune 11, 2012\n\nGuidance Subject\n\nGuidance on Determining Eligibility for Exemption from Currency Transaction\nReporting Requirements\n\nThis document revises the guidance originally published on August 31, 2009, to\nimplement the following changes:\n\n  * Relevant citations have been updated to reflect the final rule transferring FinCEN's regulations from 31 CFR \u00a7 103 to 31 C.F.R. Chapter X, effective March 1, 2011, and as published at 75 FR 65806; \n  * The portion of the guidance dealing with exemption eligibility for payroll customers has been amended in accordance with the final rule amending 31 C.F.R. \u00a7 1020.315, published at 77 FR 33638 on June 7, 2012. \n\nI. Background:\n\nThe Financial Crimes Enforcement Network (\"FinCEN\") is issuing this guidance\nto help banks  1  determine whether a customer is eligible for exemption from\ncurrency transaction reporting requirements.  2  This guidance provides\nexamples and answers to commonly asked questions regarding the final rules  3\nthat FinCEN issued in December, 2008 and June, 2012, which amended the\ncurrency transaction report (\"CTR\") exemption requirements (\"the final\nrules\").\n\nThe Bank Secrecy Act and its implementing regulations require financial\ninstitutions to file a CTR on any transaction in currency of more than\n$10,000.  4  The regulations in the Bank Secrecy Act also provide banks with\nthe ability to exempt certain customers from currency transaction reporting.\n5\n\nA. 2008 GAO Report\n\nIn 2008, the Government Accountability Office (\"GAO\") issued a report  6\nconcluding, among other things, that the information provided on CTRs provides\nunique and reliable information essential to a variety of efforts, including\nlaw enforcement investigations, regulatory and counter-terrorism matters. In\nthis same report, the GAO recommended several changes to the exemption\nrequirements, which FinCEN addressed in the final rules. The GAO also\nconcluded that additional web-based guidance was necessary to help banks\ndetermine eligibility for exemption, which FinCEN is addressing in this\nguidance document.\n\nB. The Final Rules - CTR Exemption Changes\n\nOverview of the requirements of the final rules:\n\nThe final rules, which went into effect on January 5, 2009 and June 7, 2012,\nmake the following substantive changes to the previous CTR exemption system:\n\n  * Elimination of designation and annual review for most Phase I customers.  7  Banks are no longer required to file a designation of exempt person (\"DOEP\") report for, or conduct an annual review of, customers who are other depository institutions operating in the United States, U.S. or State governments, or entities acting with governmental authority. The DOEP filing and annual review are still required for businesses listed on a major national stock exchange (\"listed businesses\"), non-listed businesses, and payroll customers. \n  * \"Frequently\" decreased to five reportable transactions. Banks may designate an otherwise eligible non-listed business customer or payroll customer  8  for exemption after the customer has within a year conducted five or more reportable transactions in currency (previously, eight or more reportable transactions were required). \n  * Waiting time for eligibility decreased . Banks may use a hybrid approach to designate an otherwise eligible customer for a Phase II exemption: The customer may be eligible for exemption after maintaining a transaction account for two months (previously twelve months were required); or, the customer may be eligible for exemption in less than two months if the bank conducts a risk-based analysis to form a reasonable belief that the customer has a legitimate business purpose for conducting frequent or regular large currency transactions. \n  * Biennial renewals eliminated . Banks are no longer required to file a biennial renewal or record and report a change of control for an exempt Phase II customer. \n\nThese final rules, along with the existing requirements established by\nprevious rulemakings, have simplified the exemption process by generally\nauthorizing a bank to treat a customer as exempt from currency transaction\nreporting under the following circumstances:\n\n|  Type of Customer  |  Transaction Frequency  |  Waiting Period  |  Ineligible Activity  |  File DOEP Report  |  Annual Review   \n---|---|---|---|---|---|---  \n  \n###  Phase I  \n  \n|  Banks operating in the U.S.  |  N/A  |  None  |  N/A  |  No  |  No   \n|  Federal, state, local, or inter-state governmental departments, agencies, or authorities  |  N/A  |  None  |  N/A  |  No  |  No   \n|  Entities listed on the major national stock exchanges  |  N/A  |  None  |  N/A  |  Yes  |  Yes   \n|  Subsidiaries (at least 51% owned) of entities listed on the major national stock exchanges  |  N/A  |  None  |  N/A  |  Yes  |  Yes   \n  \n###  Phase II  \n  \n|  Non-listed businesses  |  Five or more transactions per year  |  Two months;  or less after risk-based analysis  |  No more than 50% of gross revenues derived from ineligible activity  |  Yes  |  Yes   \n|  Payroll Customers  |  Five or more transactions per year  |  Two months; or less after risk-based analysis  |  N/A  |  Yes  |  Yes   \n  \nThe chart above indicates that for Phase I customers, a bank may immediately\ntreat as exempt any eligible entity without concern for the time it has been a\ncustomer of the bank or the number of reportable transactions it has\nconducted. Additionally, because the \"ineligible businesses\" provision applies\nonly to non-listed business exemptions, a Phase I customer may be treated as\nexempt regardless of their involvement in such activities. For all Phase I\ncustomers other than listed businesses and their subsidiaries, no DOEP or\nannual review is required.\n\nBefore treating a non-listed business or payroll customer as exempt, a bank\nmust first determine that the customer has conducted five or more transactions\nwithin the previous year, has been a customer of the bank for at least two\nmonths (or less time on a risk-assessed basis), and, in the case of non-listed\nbusinesses, derives no more than 50% of its gross revenues from any ineligible\nbusiness activity.  9\n\nBanks must file DOEP reports and conduct annual reviews for all Phase II\ncustomers (whether they are non-listed businesses or payroll customers), as\nwell as for listed businesses and their subsidiaries.\n\nThe final CTR exemption rules do not relieve banks of their separate\nobligation to conduct suspicious activity monitoring and reporting for both\nPhase I and Phase II exempt customers.  10\n\nII. Frequently asked questions:\n\nSince the publication of the final rules, FinCEN has received questions\nregarding various provisions. FinCEN is issuing answers to these questions to\nassist banks in understanding the scope and application of the final rules.\n\nA. Timing\n\n**Question:** When should a bank make a risked-based determination to exempt\nan otherwise eligible Phase II customer before they have been a customer for\ntwo months?\n\n**Answer:** The preamble to the 2008 final rule provides some examples of\ncriteria that may be appropriate when making such a risk-based decision. For\nexample, banks could consider the nature of the market the customer serves,\nthe type of services offered, the location of the business, and whether the\nbank had a past relationship with the customer. In light of such factors,\npossible examples of customers who may qualify for exemption prior to two\nmonths may include the following:\n\n  * Returning customers that reopen a previously maintained exempt transaction account with the bank; \n  * Customers whose exempt status has changed (for example, when a customer that was a publicly listed company privatizes and is otherwise eligible for Phase II exemption). \n\nThe above examples are not intended to be exhaustive, but rather\nrepresentative of the types of customer relationships where a risk-based\ndetermination to exempt prior to two months may be appropriate. Readers should\nnote that for each of the examples provided above, there is some factor\ncontributing to a bank's level of knowledge exceeding what is typical for a\nnew customer being considered for exemption. Such knowledge, or other\nmitigating factors, could assist the bank in forming a reasonable conclusion\nthat the risk of exempting the customer prior to two months was low.\n\nBanks are not required to use the risk-based approach. FinCEN originally\nproposed  11  removing any prescribed amount of time before a bank could\nconsider a Phase II customer for exemption, enabling a bank to make a risk-\nbased determination of when to exempt in all instances. Due to comments\nsubmitted in response to that proposal, however, FinCEN implemented a hybrid\napproach that allows banks to choose the flexibility of a risk-based approach\nor the simplicity of the two-month threshold.\n\nBanks should remember that even if using the two month approach, they are\nrequired at least annually to conduct a review of the customer to determine\ncontinued eligibility for exemption and to monitor for suspicious activity.\n\nB. Frequency\n\n**Question:** Using the risk-based approach, can a bank exempt a non-listed\nbusiness or payroll customer prior to the two month mark even if the customer\nhas conducted fewer than five transactions? **Answer:** No. The risk-based\napproach for determining when to exempt a Phase II customer gives latitude\nwith respect to the timeframe only (i.e., allowing for exemption of customers\nthat have been customers for less than two months). None of the other criteria\nnecessary for Phase II exemption can be adjusted as part of that risk-based\napproach, including the criteria to for a non-listed business or payroll\ncustomer to engage frequently in reportable transactions. Thus, before a bank\nmay exempt a non-listed business or payroll customer, that customer must have\nconducted at least five reportable transactions. FinCEN believes that without\nsuch a frequent large cash transaction volume, a bank could not reasonably\nexpect to have sufficient knowledge of its customer to justify the risk-based\napproach.\n\nC. Corporate structure and reorganization\n\n**Question:** What is the status of an exempt customer that previously was a\nlisted public company but has reorganized as a private company?\n\n**Answer:** If a Phase I customer no longer is a publicly-traded company, the\ncustomer is ineligible for a Phase I exemption. However, the bank could\nevaluate the customer for potential exemption as a non-listed business\ncustomer. If the bank's assessment indicates that the private company does not\nderive more than 50% of its gross revenues from ineligible lines of business,\n12  has conducted five or more reportable transactions in the previous year,\nand otherwise meets all of the exemption criteria, the bank may exempt the\ncompany as a non-listed business.\n\nBanks should note that a business's eligibility for exemption under the\n\"listed business\" provision may change over time, for example, as it makes an\ninitial public offering or is privatized. This is the primary reason that\nlisted businesses and their subsidiaries are the only Phase I exempt customers\nunder the 2008 final rule for which banks must continue to file DOEP reports\nand conduct annual reviews. As part of those requirements, banks should have\nprocedures for verifying whether a listed business remains eligible for\nexemption at least once per year. Annual reports, stock quotes from\nnewspapers, or other information, such as electronic media can be used to\ndocument the review.\n\n**Question:** Does the Phase I exemption available to certain subsidiaries of\nlisted businesses apply to franchises or other affiliated entities when the\nlisted company does not have a 51% or greater ownership stake in the\naffiliated entity?\n\n**Answer:** No. To be eligible for exemption, any affiliated entity must meet\nthe definition of \"subsidiary\" found at 31 C.F.R. \u00a7 1020.315(b)(5), which\nrequires that the listed business own at least 51% of the common stock or\nanalogous equity interest of the entity in question. For example, a privately-\nowned restaurant franchise operating under the corporate name of a listed fast\nfood company would not be eligible for Phase I exemption. A retail business\nlocation at least 51% owned by the same listed fast food company and operating\nunder the same corporate name as the franchise, however, would be eligible for\nPhase I exemption.\n\n**Question:** What is the exempt status of a Phase II customer who reorganizes\nhis business? For example, what is the recourse for an exempt customer with a\ndoing business as (\"DBA\") account who forms a limited liability corporation as\nhis business grows.\n\n**Answer:** Since the restructuring of a business may cause that business to\nbecome ineligible for exemption or otherwise make the original DOEP filing\ninaccurate or incomplete with respect to the newly restructured business,\nbanks should consider evidence of a business restructuring as part of their\nannual review or ongoing customer due diligence. Potential evidence of such\nrestructuring could include changes in the customer's management, business\npurpose, operations, customers, ownership, or account relationship with the\nbank. More specifically, changes to a customer's account relationship with the\nbank could include the issuance of a new taxpayer identification number,  13\nmodifications to the names on the account, changes in account activity, or the\naddition or removal of signors or controllers of an account.\n\nBanks should use a risk-based approach when determining which factors to\nconsider to ensure that a customer remains eligible for exemption and that the\noriginal DOEP filing continues to identify that customer accurately and\ncompletely. To the extent that such changes make the original DOEP filing\ninaccurate or incomplete with respect to the newly restructured business, a\nbank should reevaluate the business for exemption. In such cases, the bank may\nconsider using the risk-based approach for exempting the newly restructured\nbusiness prior to the two month waiting period. If the restructured business\nis eligible for exemption and the bank wishes to treat them as such, a new\nDOEP report must be filed with FinCEN.\n\nIn the example used in the question, an unincorporated business that\nincorporates would likely need reevaluation for the purposes of CTR exemption\neligibility.  14  Accordingly, after verifying that the newly restructured\nbusiness was eligible for exemption, a bank wishing to treat that customer as\nexempt would need to file a new DOEP report.\n\nD. Ineligible businesses\n\n**Question:** Does FinCEN consider a hospital or doctors office to be engaged\nin the practice of medicine and therefore ineligible for exemption as a non-\nlisted business?  15\n\n**Answer:** FinCEN interprets the term \"the practice of medicine\" broadly,\nrather than focusing on the technicalities of individual state laws governing\nthe licensing of medical practitioners. Accordingly, any entity that derives\nmore than 50% of its gross revenues by offering medical services is ineligible\nfor exemption as a non-listed business. This interpretation would likely\nexclude most privately-owned hospitals, doctors' offices, or other medical\npractices from being eligible for exemption as non-listed businesses.\n\nE. Customers no longer eligible for exemption\n\n**Question:** What should a bank do if, during its annual review of a listed\nbusiness or Phase II customer, it discovers that the customer no longer meets\nall the criteria for exemption?\n\n**Answer:** During the annual review of a Phase II exempt customer, a bank may\nconclude that a customer is no longer eligible for exemption (for example, if\nan exempt non-listed business customer conducted only four reportable currency\ntransactions during the year under review). At the time the customer's\nineligibility is discovered, the bank should document its determination of\nineligibility and cease to treat the customer as exempt.  16  The bank is not\nrequired to back file CTRs with respect to a designated Phase II customer that\nhad met the eligibility requirements in a preceding year, but was subsequently\nfound to be ineligible during the bank's timely completion of its annual\nreview.\n\nF. Suspicious activity of an exempt customer\n\n**Question:** Is a customer that has been the subject of a Suspicious Activity\nReport (\"SAR\") eligible for initial or continued exemption?\n\n**Answer:** A Bank is required to file a SAR, where appropriate, regarding the\nactivities of any of its exempt customers.  17  However, if an exempt person\nis involved in a transaction that has been reported in a SAR, the bank is not\nrequired to cease treating the person as exempt. The decision to exempt, or to\nretain or revoke a customer's exemption, should be made by the bank in\naccordance with its risk-based anti-money laundering policies, procedures, and\ncontrols.\n\nG. Completing the Designation of Exempt Person report\n\n**Question:** The DOEP report (FinCEN Form 110) and instructions were not\nupdated with the final rules to account for the various changes to the CTR\nexemption process. How should a bank complete the DOEP when exempting a new\ncustomer?\n\n**Answer:** The preamble to the 2008 final rule clarified that certain\nelements of the DOEP report should be disregarded by filers since they are no\nlonger applicable under the new exemption requirements. Because the final rule\nremoved several existing requirements but did not add any new requirements,\nthe DOEP report now contains a limited number of extraneous fields but remains\nfully sufficient to designate any eligible customer as an exempt person.\nAccordingly, filers should disregard references on the report as well as in\nthe instructions to biennial renewals and to types of Phase I customers that\nno longer require a DOEP filing.  18  FinCEN has disabled the unnecessary\nfields in the E-filing system as well as in the version of FinCEN Form 110\navailable on its website.\n\nH. Exemptible transaction accounts\n\n**Question:** The definition of a Phase II \"exempt person\" in 31 C.F.R. \u00a7\n1020.315(b)(6) and (7) includes the phrase \"only with respect to transactions\nconducted through its exemptible accounts.\" Does this mean that certain\ntransactions of Phase II exempt customers require the filing of a CTR?\n\n**Answer:** Yes. The scope of the exemption for non-listed businesses and\npayroll customers is limited by several criteria. While the final rules\nreduced those criteria with respect to the number of transactions and the\nwaiting period before a bank could treat those customers as exempt, they did\nnot alter the remaining criteria for Phase II customers, including the\nprovision that a Phase II customer is exempt \"to the extent of its domestic\noperations and only with respect to transactions conducted through its\nexemptible accounts.\"  19  For transactions conducted by the customer outside\nof the criteria for Phase II customers, the customers would not meet the\ndefinition of \"exempt person\" and could not be treated as exempt by the bank.\n\nFor example, a bank may have a convenience store as an exempt non-listed\nbusiness customer. This customer might regularly make deposits into its\ntransaction account exceeding $10,000 in currency, none of which would require\nthe bank to file a CTR. However, if the convenience store presents more than\n$10,000 in currency in exchange for a cashier's check, whether the bank is\nrequired to file a CTR will depend on whether the transaction was processed\n\"through [the] exemptible account.\" Specifically, the bank would not be\nrequired to file a CTR if the bank credited the customer's transaction account\nas a deposit and then debited the account to fund the cashier's check, or\notherwise processed the transaction in such a way that it resulted in a line\nitem entry into the customer's transaction account statement. The bank would\nbe required to file a CTR, however, if the currency was deposited into and the\ncashier's check was drawn upon the bank's general ledger account(s), or\notherwise did not result in a line item entry into the customer's transaction\naccount statement.\n\nBanks may generally use the test of whether a transaction results in a line\nitem entry into a Phase II exempt customer's transaction account statement to\ndetermine whether a transaction was \"conducted through [the] exemptible\naccount.\" For any reportable transaction not conducted through the exemptible\naccount, the customer would not meet the definition of \"exempt person\" only\nwith respect to that transaction and a CTR must be filed.\n\nI. Revoking an exemption\n\n**Question:** If a bank ceases to treat a customer as exempt, and begins or\nintends to begin filing CTRs on that customer for the next reportable\ntransaction, must the bank formally revoke the exemption by filing the DOEP\nreport and selecting the \"exemption revoked\" box?\n\n**Answer:** Banks have never been required to formally revoke an exemption\nusing the DOEP report. Generally, examiners or other users of BSA data would\nbe able to rely on a pattern of reporting to know that a customer is no longer\nbeing treated as exempt. For purposes of clarity or creating internal\ndocumentation, however, many banks voluntarily revoke exemptions using the\nDOEP report. For example, if during its annual review of an exempt non-listed\nbusiness customer a bank discovers that the customer conducted no reportable\ntransactions in the previous year, the bank could no longer treat that\ncustomer as exempt. If the exemption is not formally revoked using the DOEP\nreport and the customer continues the pattern of not conducting reportable\ntransactions, a law enforcement agent investigating the company would likely\nconclude incorrectly from the lack of CTR filings that the customer is still\nbeing treated as exempt. While revoking an exemption in such instances may\nbenefit both the filing bank and users of BSA data, banks may choose to do so\nentirely on a voluntary basis.\n\nQuestions or comments regarding the contents of this Guidance should be\naddressed to the FinCEN Regulatory Helpline at 800-949-2732.\n\n1  Pursuant to the Bank Secrecy Act, the term \"bank\" includes inter alia each\nagent, agency, branch, or office within the United States of any person doing\nbusiness as a commercial bank, a savings and loan association, a thrift\ninstitution, a credit union, or a foreign bank, 31 C.F.R. \u00a7 1010.100(d).\n\n2  FinCEN consulted with the staffs of the Board of Governors of the Federal\nReserve System, the Federal Deposit Insurance Corporation, the National Credit\nUnion Administration, and the Office of the Comptroller of the Currency prior\nto issuing this guidance.\n\n3  _See_ 73 FR 74010 and 77 FR 33638, respectively.\n\n4  31 CFR \u00a7 1010.310.\n\n5  31 C.F.R. \u00a7 1020.315.\n\n6  _See_ ''Bank Secrecy Act: Increased Use of Exemption Provisions Could\nReduce Currency Transaction Reporting While Maintaining Usefulness to Law\nEnforcement Efforts'' GAO-08-355 (GAO: Washington, D.C.: Feb. 21, 2008).\n\n7  Entities commonly known as \"Phase I\" are defined in 31 C.F.R. \u00a7\n1020.315(b)(1)-(b)(5).\n\n8  Entities commonly known as \"Phase II\" are defined in 31 C.F.R. \u00a7\n1020.315(b)(6) and (b)(7).\n\n9  For additional discussion of the \"50% rule\" relating to ineligible\nbusinesses, _see_ [\nhttps://www.fincen.gov/sites/default/files/shared/fin-2009-g001.pdf\n](/sites/default/files/shared/fin-2009-g001.pdf) .\n\n10  _See_ 31 CFR \u00a7 1020.320.\n\n11  _See_ 73 FR 22101.\n\n12  _See_ 31 CFR \u00a7 1020.315(e)(8).\n\n13  In some instances, such as the formation of a single member limited\nliability corporation or certain types of partnerships in some states, a\nchange in corporate structure may not result in the issuance of a new taxpayer\nidentification number.\n\n14  A bank should also consider potential customer identification program\nobligations under 31 CFR \u00a7 1020.220.\n\n15  The practice of medicine is one of several business activities that make a\ncustomer ineligible for exemption as a non-listed business. _see_ 31 CFR \u00a7\n1020.315(e)(8).\n\n16  In the event the customer meets the eligibility requirements in the\nfuture, the bank must file a new DOEP to begin treating the customer as\nexempt.\n\n17  31 CFR \u00a7 1020.320.\n\n18  _See_ 73 FR 74015, Section V.\n\n19  _See_ 73 FR 74015, Section V.\n\nFinancial Institution\n\nDepository Institutions\n\nLanguages\n\n[ ](https://www.facebook.com/fincentreasury) [\n](https://www.linkedin.com/company/fincen) [ ](https://twitter.com/FinCENnews)\n[ ](https://www.youtube.com/@fincentreasury)\n\n  \n[ USA.gov ](https://www.USA.gov) | [ Regulations.gov ](https://www.Regulations.gov) | [ Treasury.gov ](https://www.treasury.gov) | [ IRS.gov ](https://www.IRS.gov) | [ Freedom of Information Act (FOIA) ](/freedom-information-act-foia-and-guide-accessing-fincen-information) | [ NO FEAR Act ](https://home.treasury.gov/footer/no-fear-act) | [ Vote.gov ](https://vote.gov/) | [ Accessibility ](/accessibility) | [ Office of Equal Opportunity ](/about/office-equal-opportunity) | [ Privacy Policy ](/privacy-security) | [ Public Posting Notice of Finding of Discrimination ](https://home.treasury.gov/footer/no-fear-act) | [ Security and Vulnerability Disclosure Policies (VDP) ](/security-and-vulnerability-disclosure-policies) | [ Office of Inspector General ](https://oig.treasury.gov/)\n\n",
                "url": "https://www.fincen.gov/resources/statutes-regulations/guidance/guidance-determining-eligibility-exemption-currency"
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            "summary": "FinCEN guidance on eligibility for exemptions related to currency transaction reporting.",
            "url": "https://www.fincen.gov/resources/statutes-regulations/guidance/guidance-determining-eligibility-exemption-currency"
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                    "source": "https://www.brembogroup.com/en/sustainability/materiality"
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                "page_content": "0001-01-01T00:00:00Z  Pages  notset  notset  notset  notset\n\n#\n\nM  a  t  e  r  i  a  l  i  t  y\n\nA  n  a  l  y  s  i  s\n\n\u200b  P  r  o  c  e  s  s\n\nThe aspects involved in measuring the capacity to create sustainable value\n\n[ ]() [ ]()\n\n[ ]() [ ]()\n\nAs every year, the Brembo Group has updated its **materiality analysis** \u2014 the\ntool used **to identify its material sustainability topics** \u2014 and therefore\naligned the content of its Disclosure of Non-Financial Information,\ninstrumental to providing an overview of the Company\u2019s operations,\nperformance, results and, above all, future strategies and targets. These\ntopics are also material aspects for Brembo\u2019s stakeholders and are identified\nand constantly updated, including with its stakeholders\u2019 direct engagement.\n\nIn 2022, in advance of the requirements imposed by the new European Directive\n2022/2464 (the Corporate Sustainability Reporting Directive), Brembo began the\n**double materiality process** , also integrating an **\"outside-in\"\nperspective** **(financial materiality) into its \"inside-out\" impact\nassessment process (impact materiality) according to the** [ **GRI Universal\nStandards** ](https://www.globalreporting.org/standards/) **2021** . Whereas\nthe \"inside-out\" approach identifies the impacts generated, actually or\npotentially, by the organisation and its value chain on the outside world, the\n\"outside-in\" perspective looks at the risks and opportunities that may\ninfluence the Group's creation of value, strategy, operating and financial\nperformance and positioning in the short, medium or long term.\n\nFor 2023, the assessment of the \"outside-in\" perspective (financial\nmateriality) was conducted on the basis of the **European Sustainability\nReporting Standards (ESRSs)** made available by the EFRAG, i.e. the reporting\nstandard that is to be used by companies subject to the Corporate\nSustainability Reporting Directive. This assessment is thus to be regarded as\nfully voluntary and not subject to assurance by the third-party entity that\ncertifies this Disclosure of Non-Financial Information according to the ISAE\n3000 Revised standard.\n\n[\n](https://brem-p-001.sitecorecontenthub.cloud/api/public/content/b189f4f60df841ba81dc2c00dde9c34b?v=f6b82b47)\n\nA description is provided below in the interest of a better understanding of\nthese topics:\n\nGreenhouse gas emissions\n\n__\n\nThe consumption of fossil fuels and electricity in its buildings and\nfacilities, the combustion of fuel for the company fleet and the use of\nmaterials during production contribute to climate change caused by greenhouse\ngas emissions (Scope 1 and 2). In addition, the transport of company products\nby third parties, as well as the purchase **** of services, materials and\nfinished products from suppliers, including their transport, entail greenhouse\ngas emissions caused by such suppliers during their production activities\n(Scope 3). Aware of these impacts, the Brembo Group is committed to pursuing\nthe **ambitious goal of achieving net zero emissions by 2040** , supported by\na defined roadmap designed to gradually reduce Scope 1, 2 and 3 greenhouse gas\nemissions. Brembo\u2019s  \ncommitment to reducing greenhouse gas emissions also extends to end users\nthrough the **use of innovative technologies in its products** , which make it\npossible to limit the weight of brake systems and therefore to reduce GHG\nemissions.\n\nPolluting emissions\n\n__\n\nThe processes of extracting raw materials and manufacturing and painting brake\ncomponents generate polluting emissions such as carbon monoxide (CO), nitrogen\noxides (NOx), particulate matter (PM) and sulphur oxides (SOx), which may\ncause harm to the environment and human health. Thanks to the **Environment\nand Energy Management System** , Brembo has introduced **requirements common\nto all the Group\u2019s plants** aimed at **containing emissions** well below the\nemission limits imposed by the legislation of the Countries in which it\noperates. In addition, thanks to the use of particular materials and\ninnovative technical solutions, Brembo\u2019s products permit a reduction of the\npolluting emissions caused by brake wear and tear during use.\n\nEnergy efficiency\n\n__\n\nInefficient production processes not only use more energy to achieve the same\nresult in production, but also contribute to reducing overall energy\navailability. This phenomenon accelerates fossil fuel consumption, exhausts\nenergy resources more rapidly and increases greenhouse gas emissions. The\nenvironmental consequences of such inefficiency may be significant, resulting\nin higher energy costs and in economic penalisation for the Company. Faced\nwith these challenges, Brembo is actively committed to seeking **constant\nreduction of direct and indirect energy consumption.** Through **investments**\naimed at the adoption of the **best available technologies in terms of energy\nefficiency** , the Group aims to achieve the goals of its Sustainability Plan.\n\nProtection of water resources\n\n__\n\nExcessive consumption of water in water-stressed areas threatens the regional\nhydrological balance and results in scarcity of water resources. Intensive\nindustry \u2014 often inefficient \u2013 contributes to a reduction in water\navailability and degradation of water quality, with an impact on the\nenvironment and on the access to potable water. Aware of the importance of\npreserving this fundamental resource, as part of its Environment and Energy\nManagement System Brembo has implemented a **Water Management procedure that\nimposes requirements and restrictions on all the Group\u2019s plants for\nsustainable use and protection against pollution** . The Group has also set\nitself the **goal of reaching 100% monitoring of flows** (withdrawal,\ndischarge and significant internal use) **by 2025** at each of its sites in\norder to implement improvement actions.\n\nWaste management\n\n__\n\nInadequate waste management by the Group could result in soil pollution, harm\nto natural resources and threats to biodiversity. In addition, a lack of\nattention to waste recycling/recovery and the consequent sending of waste to\ndumps could contribute to soil consumption. Brembo Group is dedicated to\n**efficient waste management** , avoiding generating negative impacts on the\nenvironment and actively seeking to **reuse and develop waste materials** .\nThe Group has set itself the goal of increasing the percentage of waste to be\nrecycled.\n\nProtection of biodiversity\n\n__\n\nThe extraction of primary raw materials may contribute to deforestation and\nenvironmental pollution. In addition, the surface extension of extraction\nsites, as well as the presence of buildings and plants, entail soil\nconsumption, which may result in biodiversity loss. With regard to its plants,\nBrembo has identified a need to act in a way that contributes to **maintaining\nand protecting biodiversity near its assets** . The first step involved an\nanalysis to define and apply a **biodiversity screening methodology to the\ngeographical areas in which its manufacturing plants are located.** The second\nstep will be defining any **improvement, prevention and mitigation actions.**\n\nEvinronmentally sustainable product\n\n__\n\nThe design, production and use of products aimed at reducing environmental\nimpact throughout their life cycle involves minimising the use of natural\nresources, limiting greenhouse gas emissions and reducing waste generation.\nThis entails the adoption of **recyclable materials, the optimisation of\nproduction processes to reduce energy and greenhouse gas emissions and the\npromotion of ethical, socially responsible practices.** The sustainability of\nsuch products is also manifest in their durability and ease of disposal or\nrecycling at the end of their useful lives. Within the framework of this\nphilosophy, Brembo integrates environmental performances into its products,\ndeveloping **braking systems with low particulate and CO2 emissions** , while\nalso enhancing the durability and recyclability of materials. Brembo\u2019s\ncommitment to reinforcing the development of innovative products, featuring\nenvironmentally sustainable, circular designs, translates concretely into\n**promoting sustainable mobility through the reduction of polluting emissions\nthanks to its advanced braking systems and the Group\u2019s commitment to\nsubjecting all its products to a Life Cycle Assessment (LCA).**\n\nDiversity, equity and inclusion\n\n__\n\nBrembo firmly believes that people must have equal access to work, facilities,\nservices and programmes, solely on the basis of their knowledge,\nqualifications, expertise, performance and motivations, regardless of other\npersonal conditions. In recognition of this responsibility, Brembo adopts an\nactive, concrete policy in these areas, reflected in its **Policy on Non\nDiscrimination and Diversity, as well as in the Brembo Charter on Diversity,\nEquity and Inclusion** . In particular, the Group is committed to promoting\nthese aspects along the **three main axes (gender, generation and cultural\nbackground)** through concrete projects that contribute to the wellbeing of\nthe Group\u2019s people.\n\nProtection of human rights\n\n__\n\nThe **protection of human rights** requires policies and practices against\nexploitation and discrimination, both internally and throughout the value\nchain. Brembo, which is committed to respecting the rights of its workers,\nalso extends this commitment to its suppliers, requiring that they abide by\nits Sustainable Procurement Policy in all Countries in which it operates. The\nGroup pays **attention to the direct purchase of minerals from conflict\nzones** , asking its suppliers to declare the origin of Conflict Minerals in\nsupplies intended for the Group. Moreover, the Group conducts audits to ensure\nrespect for human rights among its suppliers.\n\nWorkers\u2019 health and safety\n\n__\n\nEmployment in the automotive industry exposes workers to potential risks and\npermanent harm due to the lack of adequate safety measures. This risk also\nextends to workers upstream and downstream the value chain, increasing the\nprobability of serious physical injuries associated with work activities. In\nresponse to this problem, the Group has implemented an **ISO 45001 management\nsystem at all its plants** , in addition to promoting a **culture of safety\nthrough its \u201cI Am Safety\u201d campaign in Italy and China** . Throughout its\nsupply chain, Brembo\u2019s sustainability policy, included in its Sustainable\nProcurement Policy, sets specific requirements to ensure protection of health\nand safety in suppliers\u2019 workplaces.\n\nWellbeing of personnel\n\n__\n\nIf the Group were not to ensure compliance with minimum wage and employee\nwelfare, this would result in deterioration of the working conditions and\nwell-being of its employees, entailing an increase in personnel turnover.\nFailure to monitor practices throughout the value chain could encourage\nincorrect behaviour, thus causing damages to third-party workers. In response\nto these challenges, the Group has intensified its **vigilance over the job\nmarket, focusing on pay for critical roles and reinforcing its methods of\nmonitoring outgoing personnel and voluntary resignations** . In addition, it\nactively **promotes employee health** , not only through initiatives relating\nto the workplace, but also through programmes providing information on healthy\nlifestyles and courses on proper nutrition, such as the Brembo Wellness\nprogramme.\n\nTraining and development of personnel\n\n__\n\nThe implementation of policies and investments in employee training not only\nensures the development of the Group\u2019s resources, but also contributes\nsignificantly to **increasing the innovative skills required to respond\npromptly to the demands of the business** . Within this framework, Brembo\nadopts a specific procedure for effectively managing **training and\ndevelopment** offerings, designed to be increasingly **global and inclusive**\n, from the annual survey and analysis of training needs to attentive\nmonitoring of quality indicators for the training provided.\n\nData protection and it security\n\n__\n\nThe implementation and application of digital security systems are absolutely\nessential to preventing the risk of data breaches and cyberattacks, which\ncould have severe consequences, including privacy breaches and the loss of\nsensitive customer data. In order for the Group to manage such threats\neffectively, it is fundamental to adopt policies and advanced technologies\nthat take a proactive approach to protecting digital data. The Brembo Group\nhas thus set up a **Privacy Supervisory Committee** , and has introduced the\nposition of **Data Protection Officer and of specific Privacy Officers for\neach area of the company.** These professionals operate in strict compliance\nwith personal data protection legislation, following specific procedures to\nhandle issues, obligations, new processing and reporting, while ensuring\nmaximum security and regulatory compliance.\n\nProduct safety\n\n__\n\nProduct safety is a fundamental priority for ensuring that the design,\nmanufacture and marketing of products adhere to strict safety standards. This\ncommitment entails the implementation of robust **quality control processes\nduring production, active risk management and compliance with applicable\nlegislation, in order to prevent accidents or damages** arising from the use\nof products by consumers. This approach is crucial to preserving the company\u2019s\nreputation, protecting consumers and complying with applicable safety\nlegislation. Following a preventive and proactive approach, Brembo is\ncommitted to applying the voluntary **technical standards that national and\ninternational standards bodies have developed** to ensure the **production of\nexcellent products, while guaranteeing safety, quality and certain\nperformance.** In addition, through the use of innovative technologies, Brembo\nseeks to improve the performance of its braking systems, while continuing to\noffer its end users the utmost reliability and safety.\n\nProtection and development of local communities\n\n__\n\nThe presence of manufacturing plants and extraction sites disfigures the\nlandscape, with adverse impacts, in visual and other terms, for local\ncommunities. The company\u2019s commitment to the well-being of local communities\ntranslates into active management to protect the interests and health of\npeople in the affected areas. At the same time, companies contribute to\neconomic and social development, **promoting job opportunities, developing\nlocal skills and taking an active part in community initiatives.** Responsible\nrelationship management is essential to consolidating trust and ensuring a\npositive impact. Brembo Group\u2019s global presence offers a significant\nopportunity to improve **external positive impacts through the transfer of\ninvestments, technology and skills** . The Group actively promotes the\n**growth of local ancillary industry** , supporting infrastructure, jobs and\ntraining programmes and recognising the importance of fostering intellectual\ncapital in its districts. It also makes its know how available, reinforcing\nits commitment to social responsibility and sustainable development in the\nsurrounding communities.\n\nSustainable supply chain\n\n__\n\nResponsible, sustainable management of the supply chain focuses on an ethical,\ntransparent approach respectful of human rights, social fairness and the\nenvironment. The **Brembo Group asks all suppliers** operating in Countries in\nwhich it is present with its plants **to comply with the Sustainable\nProcurement Policy** . This Policy concerns key issues, including r **espect\nfor human rights, environmental protection, workplace safety, and prevention\nof corruption** . In addition, verification programmes, audits, monitoring,\ntraining sessions and corrective measures are also implemented in cooperation\nwith suppliers to ensure a sustainable supply chain aligned with high ethical\nstandards and corporate responsibility.\n\nBusiness ethics and integrity\n\n__\n\nNon-compliance with business best practices, such as unfair competition and a\nlack of reliable tax risk governance, control and management systems can cause\ndamage to the economy and result in violation of laws and regulations.\nInsufficient supervision of company ethics and integrity could foster\nphenomena of corruption in tenders and supply contracts for both companies and\nindividuals. Brembo has implemented various tools, including the\n**Organisational, Management and Control Model (according to Legislative\nDecree No. 231/2001), the Anti-bribery Code of Conduct, the Supervisory\nBoard** and an entities\u2019 administrative and criminal liability compliance\nprogramme in accordance with applicable local legislation of Countries where\nit operates through subsidiaries.\n\nMaterial topics identified by Brembo  |  Areas of Legislative Decree (IT) 254/2016  |  Impacts  |  Reference GRI Standards  |  Boundary limitations  |  Boundary limitations   \n---|---|---|---|---|---  \nEnvironmentally sustainable product  |  Social  |  Primary raw material saving through the use of recycled and recyclable materials  |  *  |  |   \nEnergy efficiency  |  Environmental  |  Reduction of energy availability due to non-efficient production processes  |  302: Energy (2016)  |  |   \nProtection of water resources  |  Environmental  |  Water scarcity, in particular in water-stressed areas, due to water consumption in the production process  |  303: Water and Effluents (2018)  |  Suppliers  |  Reporting partially extended to suppliers   \nTraining and development of personnel  |  Social  |  Development of skills and know-how through ad hoc training activities  |  401: Employment (2016)   \n  \n404: Training and Education (2016)  |  |   \nWellbeing of personnel  |  Social  |  Failure to ensure workers\u2019 wellbeing due to the absence of dedicated company initiatives  |  *  |  |   \nProduct safety  |  Social  |  Product reliability and safety  |  416: Customer Health and Safety (2016)  |  Customers  |   \nWorkers\u2019 health and safety  |  Social  |  Workers\u2019 accidents and occupational diseases due to non-suitable working conditions  |  403: Occupational Health and Safety (2018)  |  Workers who are not employees   \nContractors  |  Reporting partially extended to contractors   \nGreenhouse gas emissions  |  Environmental  |  Climate change caused by greenhouse gas emissions  |  305: Emissions (2016)  |  Suppliers  |  Reporting partially extended to suppliers   \n|  |  Reduction of greenhouse gas and polluting emissions generated by final users through the development of innovative technologies  |  305: Emissions (2016)  |  Suppliers  |  Reporting partially extended to suppliers   \nProtection of biodiversity  |  Environmental  |  Soil occupation and loss of biodiversity  |  304: Biodiversity (2016)  |  |   \nPolluting emissions  |  Environmental  |  Damage to the environment and human health due to polluting emissions in the air  |  305: Emissions (2016)  |  |   \n|  |  Reduction of greenhouse gas and polluting emissions generated by final users through the development of innovative technologies  |  305: Emissions (2016)  |  |   \nProtection and development of local communities  |  Social  |  Impacts on the social and economic growth of the local areas and communities  |  201: Economic Performance (2016)  |  |   \nSustainable supply chain  |  Social  |  Transparency and involvement of the supply chain in sustainable practices through monitoring and training programmes  |  204: Procurement Practices (2016)  |  |   \n|  |  |  308: Supplier Environmental Assessment (2016)  |  |   \n|  |  |  414: Supplier Social Assessment (2016)  |  |   \nProtection of human rights  |  Social  |  Human rights violations  |  202: Market Presence (2016)  |  |   \nProduct safety  |  Social  |  Damage to consumers due to the absence of product quality and safety checks  |  416: Customer Health and Safety (2016)  |  Customers  |   \n|  |  Increased safety of the end user through the implementation of innovative technologies in products  |  *  |  |   \nWaste management  |  Environmental  |  Soil occupation and pollution due to non-virtuous waste management  |  306: Waste (2020)  |  |   \nDiversity, equity and inclusion  |  Social  |  Non-compliance with equal opportunities legislation in the workplace  |  405: Diversity and Equal Opportunity (2016)  |  |   \n|  |  |  406: Non-discrimination (2016)  |  |   \nData protection and IT security  |  Social  |  Privacy violation and loss of sensitive data  |  418: Customer Privacy (2016)  |  Customers  |   \nBusiness ethics and integrity  |  Social  |  Damage to the economic system due to unfair business practices  |  201: Economic Performance (2016)  |  |   \n|  |  |  205: Anti-corruption (2016)  |  |   \n|  |  |  206: Anti-competitive behaviour (2016)  |  |   \n|  |  |  415: Public Policy (2016)  |  |   \n(*) As regards the topic in question (not directly linked to an aspect covered\nby GRI Standards), Brembo reports the management approach adopted and the\nrelative indicators in the document.  \n  \n[ ](https://www.brembo.com/en/contactus)\n\nBrembo N.V.\n\nVia Stezzano, 87\n\n24126 - 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                "url": "https://www.brembogroup.com/en/sustainability/materiality"
            },
            "reason": "This is the official Brembo Group website, specifically the page detailing their sustainability materiality assessment. Official company websites are considered extremely reliable for information about the company itself.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' materiality assessment",
            "summary": "This is the official Brembo Group website, specifically the page detailing their sustainability materiality assessment.",
            "url": "https://www.brembogroup.com/en/sustainability/materiality"
        },
        {
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                    "source": "https://www.schaeffler-sustainability-report.com/2023/data-and-other-information/eu-taxonomy-reporting"
                },
                "page_content": "##  EU Taxonomy reporting\n\nPart of NFR  Articles 3 and 9 of the Taxonomy Regulation (EU) 2020/852\n(Taxonomy) require Schaeffler AG to disclose turnover, capital expenditure\n(CapEx), and operating expenditure (OpEx) related to environmentally\nsustainable economic activities for the Schaeffler Group. To enable comparison\nof companies, the Taxonomy Regulation prescribes a classification system for\nenvironmentally sustainable activities. Based on the system, the company\u2019s\ninternal economic activities are classified according to their environmental\nsustainability  . The classification system is broken down into six\nenvironmental objectives:\n\n  * Climate change mitigation \n  * Climate change adaptation \n  * Transition to a  circular economy \n  * Pollution prevention and control \n  * Protection and restoration of biodiversity and ecosystems \n  * Sustainable use and protection of water and marine resources \n\nEconomic activities that have the potential to contribute to one of the\nenvironmental objectives are referred to as taxonomy-eligible. Those taxonomy-\neligible activities that are actually environmentally sustainable are referred\nto as taxonomy-aligned. Taxonomy alignment requires fulfillment of the\nfollowing three criteria sets:\n\n  1. Substantial contribution to one of the six environmental objectives \n  2. No significant harm to the other five environmental objectives (Do no significant harm, DNSH) \n  3. Compliance with minimum social and governance requirements (minimum safeguards) \n\nFor the 2023 reporting year, taxonomy eligibility and alignment are to be\nreported for the first two environmental objectives and, for the first time,\ntaxonomy eligibility for the other four environmental objectives. The\nSchaeffler Group refrains from voluntarily reporting on the taxonomy alignment\nof new economic activities in all six environmental objectives.  Part of NFR\n\n###  General assumptions\n\nPart of NFR  As part of the  EU Taxonomy  implementation process, materiality\nthresholds were defined to consider individual economic activities. These were\ndefined in such a way that they have no material influence on the reporting.\n\nTo prevent different economic activities from being counted twice, a gradual\nprocess with the corresponding control procedures was developed. In addition\nto taxonomy eligibility and substantial contribution, specific DNSH criteria\nwere also assessed on an economic activity level by experts. The criteria\noutlined in Appendixes A, B, C, and D relating to Annex I of the Delegated\nRegulation (EU) 2021/2139 as well as the requirements for minimum safeguards\nwere assessed centrally.  Part of NFR\n\n###  DNSH assessment\n\nPart of NFR  The Schaeffler Group fulfills the DNSH criteria of the appendixes\nfor all taxonomy-relevant activities. As prescribed by Appendix A, a robust\nclimate risk and vulnerability assessment was conducted for all relevant\nlocations, during which specific climate risks could be ruled out. All the\nrelevant climate risks were then assessed in detail and addressed as part of\nthe risk management for each of these locations. Based on the criteria\naddressed in the  EMAS  certification, internal guidelines, and the measures\nundertaken to minimize risk, all the relevant locations were evaluated for the\npotential risk of environmental degradation related to water scarcity and\ncompromised water quality as outlined in Appendix B. The results do not reveal\nsignificant harm as specified in Appendix B. The taxonomy-relevant activities\nfulfill the requirements outlined in Appendix C, thus there is no significant\nharm as specified in Appendix C. For Appendix D, it has been determined that\nnone of the relevant locations are situated in or near biodiversity-sensitive\nareas, with local regulations being verified as part of the existing  EMAS\nvalidation. A limit of 500 meters was defined for this purpose. The other DNSH\ncriteria were assessed on the basis of the economic activity.  Part of NFR\n\n###  Assessment of minimum safeguards\n\nPart of NFR  The assessment of minimum safeguards focused on human rights,\nanti-corruption, fair competition, and taxation with reference to the\nrecommendations made by the Platform on Sustainable Finance, and examined the\nrelevant elements of the value chain, including direct and indirect suppliers,\nown operations, customers, and other business partners.\n\nThe Schaeffler Group is guided by the six-step due diligence process\nrecommended by the  OECD  Guidelines for Multinational Enterprises, which are\nalso in line with the UN Guiding Principles on Business and Human Rights. The\nsix steps include:\n\n  1. Embed responsible business conduct (RBC) into policies and management systems \n  2. Identify and assess actual and potential adverse impacts associated with the enterprise\u2019s operations, products, or services \n  3. Cease, prevent, and mitigate adverse impacts \n  4. Track implementation and results \n  5. Communicate how impacts are addressed \n  6. Provide for or cooperate in remediation when appropriate \n\nThese six steps are covered by the  compliance management systems  in\naccordance with  IDW AsS 980  .\n\nThe requirements for minimum safeguards are communicated both internally and\nto all business partners, including direct and indirect suppliers, by way of\npublicly available documents such as the Schaeffler  Code of Conduct  and the\nSchaeffler Group Corporate  Supplier Code of Conduct  . Additional measures\nthat build on these requirements such as risk analyses and preventive and\ncontrol measures are carried out regularly. Potential violations in any of the\nareas can be reported through the Schaeffler Group\u2019s whistleblowing system.\n\nThe Board of Managing Directors of Schaeffler AG has also introduced a Tax\ncompliance management system  (Tax  CMS  ) based on loss prevention and risk\ncontrol, which is designed to ensure compliance with tax requirements\nthroughout the company and conforms with the Schaeffler Group\u2019s governance\nmodel. In 2020, an independent auditing company confirmed the appropriateness\nand implementation of the Tax  CMS  of Schaeffler AG and its domestic\ncompanies, the majority of whose interests are held directly or indirectly by\nSchaeffler AG. The audit was carried out in accordance with the  IDW AsS 980\nstandard for auditing  compliance management systems  as well as the IDW\nPractice Statement 1/2016: \u201cDesign of and Assurance Engagements Relating to\nTax  compliance management systems  in Accordance with IDW PS 980\u201d. An audit\nof the effectiveness of the Tax  CMS  was launched in accordance with  IDW AsS\n980  in the reporting year, with results expected in 2024.\n\nThe Schaeffler Group did not have any convictions in any of these four areas\nin the reporting year, which indicates that the existing management systems\nare effective.\n\nThe assessment of the DNSH and minimum safeguards requirements outside Europe\ndoes not differ from the assessment within Europe.  Part of NFR\n\n[ More information on the topic of human rights.\n](/2023/social/responsibility-in-society-and-the-supply-chain)  \n[ More information on the topic of compliance, including anti-corruption and\nfair competition. ](/2023/governance/business-integrity)\n\n###  Economic activity assessment\n\nPart of NFR  The Schaeffler Group\u2019s cross-divisional, interdisciplinary\nproject team identified several relevant economic activities. According to the\nSchaeffler Group, these are largely connected to the objective of climate\nchange mitigation, which is why the assessment was conducted with a particular\nfocus on this environmental objective, even if these economic activities are\nalso associated with other environmental objectives.\n\nThe assessment of the Schaeffler Group\u2019s business activities revealed that\nonly wind and hydrogen activities are relevant. Due to these new economic\nactivities, areas of the  Automotive Technologies  and  Automotive Aftermarket\ndivisions as well as the rail, two-wheeler, and aerospace sector clusters are\nconsidered for taxonomy reporting for the first time.\n\nThe Schaeffler Group is doing its part to expand the use of renewable energies\nby manufacturing components for wind power. All wind business is therefore\ntaxonomy-eligible for all three key performance indicators (KPIs) under **3.1\nManufacture of renewable** **energy technologies** and also fulfills the\nsubstantial contribution criteria as well as the DNSH criteria for  circular\neconomy  , which also makes it taxonomy-aligned.\n\nRelated to economic activity **3.2 Manufacture of equipment for the production\nand use of hydrogen** , the Schaeffler Group pursues two different business\nactivities: stack solutions and services for electrolyzers to produce hydrogen\nas well as components for fuel cell vehicles, i.e., for use of hydrogen. The\nSchaeffler Group has refrained from disclosing a CapEx plan and therefore from\nreporting under 3.2.\n\nThe economic activity **3.18 Manufacture of automotive and mobility\ncomponents** includes both automotive and two-wheeler activities. The\ndescription of the economic activity from which taxonomy eligibility is\nderived is interpreted in such a way that the technical evaluation criteria\nare also to be applied to it. The activities identified as taxonomy-eligible\ntake into account the components contained in the list provided in the\nDelegated Regulation (EU) 2023/2485 from June 27, 2023. This also encompasses\nchassis parts used exclusively in electric vehicles as well as parts for\nemission-free two-wheelers. These activities also fulfill the specific DNSH\ncriteria for circularity and pollution prevention and control.\n\nThe description of the economic activity **3.19 Manufacture of rail**\n**rolling stock constituents** is also interpreted in such a way that the\ntechnical evaluation criteria are to be applied to taxonomy eligibility. All\nnon-diesel rail activities (including bimode vehicles) fulfill the specific\nDNSH criteria for circularity and pollution prevention and control and are\ntherefore taxonomy-eligible.\n\nThe Schaeffler Group also produces components that fulfill the criteria for\ntaxonomy eligibility in the economic activity **3.21 Manufacturing of\naircraft** .\n\nMaterial CapEx was also identified in the company\u2019s internal infrastructure in\nconnection with the vehicle fleet, buildings, renewable energies, and IT.\n\nIn accordance with the taxonomy regulation, additions to the vehicle fleet\nwere evaluated as CapEx associated with economic activity **6.5 Transport by\nmotorbikes, passenger cars, and light commercial vehicles** . It was possible\nto evaluate the substantial contribution criteria, but due to data\navailability, not all the requirements outlined in DNSH could be evaluated. As\na result, only taxonomy eligibility can be reported.\n\nReal estate-related investments in the reporting year mainly fall into **7.2\nRenovation of existing buildings** and **7.7 Acquisition and ownership of\nbuildings** . CapEx associated with 7.7 almost exclusively relates to the\nconstruction of new buildings for the company\u2019s own use and real estate-\nrelated leases. The taxonomy alignment of each individual construction project\nwith a CapEx above EUR 250,000 was assessed by comparing the building features\nto the technical evaluation criteria cited in sector 7. Due to the scope of\nsubstantial contribution criteria and specific DNSH criteria, only a part of\nthese activities is classified as taxonomy-aligned.\n\nInvestments in energy efficiency measures for lighting and for ventilation and\nair conditioning systems were allocated to the economic activity **7.3\nInstallation, maintenance and repair of energy efficiency equipment** .\nTaxonomy alignment is only verified for these inside Europe, as the technical\nevaluation criteria are based on European regulations.\n\nTo expand use of renewable energies, investments were made in photovoltaic\nprojects, which are to be classified under economic activity **7.6\nInstallation, maintenance and repair of renewable energy technologies** .\nThese investments are entirely taxonomy-\u00adaligned.\n\nBecause the amount of OpEx spent on the economic activities described in the\nDelegated Regulation (EU) 2022/1214 \u2013 in this case, the maintenance of\ncombined heat and power plants \u2013 is insignificant, reporting according to\nAppendix XII of the Delegated Regulation (EU) 2021/2178 does not apply.\n\n###  2023 Taxonomy key indicators  \nin percentage\n\n|  Taxonomy-  \naligned  |  Taxonomy-    \neligible but  \nnot aligned  |  Taxonomy-    \neligible  |  Taxonomy-    \nnon-  \neligible  \n---|---|---|---|---  \nTurnover  |  3.8  |  5.7  |  9.5  |  90.5   \nCapEx  |  12.9  |  24.6  |  37.5  |  62.5   \nOpEx  |  2.3  |  17.2  |  19.6  |  80.4   \n  \nThe share of the Schaeffler Group\u2019s taxonomy-eligible **turnover** is 9.5 %\nand falls within both Automotive divisions (  ATECH  & AAM  ), as well as the\nIndustrial  division\u2019s wind, rail, aerospace, and two-wheeler sector clusters.\nTaxonomy-eligible turnover can be allocated to the economic activities **3.1\nManufacture of renewable energy technologies** , **3.18 Manufacture of\nautomotive and mobility components** , **3.19 Manufacture of rail rolling\nstock constituents** , and **3.21 Manufacturing of aircraft** . Material\ndifferences to the prior year are the result of the new economic activities\nassociated with the environmental objective climate change mitigation.\nCalculation is based on allocating turnover to relevant customers. The share\nof the Schaeffler Group\u2019s taxonomy-aligned turnover is 3.8 %. The deviation\nfrom taxonomy eligibility is due to the fact that taxonomy alignment does not\nneed to be reported for the new economic activities in the first reporting\nyear. For the company\u2019s wind business, the drop in the turnover KPI compared\nto the prior year is the result of the weak market environment, especially in\nChina. The basis for these relative disclosures is the key figure revenue from\nthe Group\u2019s consolidated statement of income for the 2023 reporting year. All\nof the Schaeffler Group\u2019s turnover are income from contracts with customers.\n\nThe share of the Schaeffler Group\u2019s taxonomy-eligible **CapEx** is 37.5 % and\nincludes investment associated with the core business activities automotive,\nwind, rail, aerospace, and two-wheelers as well as investments in the areas of\nreal estate, renewable energies, vehicle fleet, and IT. Material differences\nto the prior year are the result of the new economic activities. Deviations\nfrom the prior year are the result of increased investment in renewable energy\nlocally (economic activity 7.6) as well as more construction of new buildings\nand fewer renovations. The prior year also saw higher investment in the\neconomic activity **8.1 Data processing, hosting, and related activities** ,\nwhich was immaterial in 2023, and a single investment under economic activity\n**4.1 Electricity generations using solar photovoltaic technology** . The\nshare of the Schaeffler Group\u2019s taxonomy-aligned CapEx is 12.9 %. This\ndifference is the result of the fact that the technical evaluation criteria\nwere not fully met for the vehicle fleet and buildings and is due to the fact\nthat taxonomy alignment does not need to be reported for the new economic\nactivities in the first reporting year. CapEx KPIs are calculated on the basis\nof evaluation of individual investments by experts. The basis for the relative\ndisclosures is the sum of the key figures \u201cadditions to intangible assets\u201d,\n\u201cadditions to rights of use from leases\u201d, and \u201cadditions to property, plant\nand equipment\u201d as of December 31, 2023, applying the definition from the  EU\nTaxonomy  Regulation. The total scope of taxonomy-aligned CapEx is the result\nof additions associated with property, plant and equipment, none of which fall\nwithin CapEx category B or are the result of company mergers.\n\nThe share of taxonomy-eligible **OpEx** is 19.6 % and is associated with\nautomotive, wind, rail, aerospace, and two-wheeler activities. Material\ndifferences to the prior year are the result of the new economic activities.\nThe share of the Schaeffler Group\u2019s taxonomy-aligned OpEx is 2.3 %. The\ndeviation from taxonomy eligibility is due to the fact that taxonomy alignment\ndoes not need to be reported for the new economic activities in the first\nreporting year. OpEx KPIs are calculated on the basis of evaluation of\nindividual projects by experts as well as an allocation model for projects\ndirectly associated with taxonomy-relevant turnover based on turnover KPIs.\nThe reduction in taxonomy-aligned OpEx KPIs compared to the prior year is also\nthe result of the allocation model and the drop in wind business. The basis\nfor these relative disclosures, applying the definition from the  EU Taxonomy\nRegulation, is the \u201cresearch and development costs\u201d from the Group\u2019s\nconsolidated statement of income for the 2023 reporting year plus the\nmaintenance costs associated with the Schaeffler Group\u2019s production plants,\nincluding the costs associated with daily maintenance of property, plant and\nequipment, less the non-relevant costs contained therein.\n\nThe scope of taxonomy-aligned OpEx under economic activity 3.1 is EUR 16\nmillion in research and development expenses and EUR 11 million of expenditure\nfor maintenance and repair. None of the taxonomy-aligned OpEx falls under the\ncategories of building renovation measures, short-term lease, or any other\ndirect expenditure relating to the day-to-day servicing of assessts of\nproperty, plant and equipment, or is connected to CapEx plans.\n\n###  Quantitative breakdown of the CapEx numerator  \nin \u20ac millions\n\n|  **CCM** ** 1)  **  \n**3.1** |  CCM    \n7.6  |  CCM    \n7.7  |  **Total**  \n---|---|---|---|---  \nAdditions to property, plant and equipment  2)  |  28  |  10  |  91  |  129   \n**CapEx taxonomy-aligned, total** |  **28** |  **10** |  **91** |  **129**  \nOf which resulting from business combination  |  \u2013  |  \u2013  |  \u2013  |  \u2013   \nOf which expenses incurred in conjunction with taxonomy-aligned economic activities  |  28  |  10  |  91  |  129   \nOf which expenses incurred within the framework of a CapEx plan  2)  |  \u2013  |  \u2013  |  \u2013  |  \u2013   \n  \n  1. **CCM** Climate change mitigation \n  2. None of the taxonomy-aligned CapEx is associated with intangible assets, investment properties, or capitalized right-of-use assets. \n\nPart of NFR\n\n###  Part of NFR  Turnover\n\n|  |  |  |  |  |  |  |  **Substantial contribution criteria** |  |  **DNSH criteria (\u201cNo significant harm\u201d)** |  |  **Category**  \n---|---|---|---|---|---|---|---|---|---|---|---|---  \n**Economic activities** |  |  **Code** |  |  **Turnover**   \n**in \u20ac millions** |  |  **Proportion of turnover**   \n**Year N** |  |  **CCM** ** 1)  ** |  |  **CCA** ** 2)  ** |  |  **WTR** ** 3)  ** |  |  **PPC** ** 4)  ** |  |  **CE** ** 5)  ** |  |  **BIO** ** 6)  ** |  |  **CCM** ** 1)  ** |  |  **CCA** ** 2)  ** |  |  **WTR** ** 3)  ** |  |  **PPC** ** 4)  ** |  |  **CE** ** 5)  ** |  |  **BIO** ** 6)  ** |  |  **Minimum safe-guards** |  |  **Proportion of**   \n**taxonomy-aligned (A.1.) or taxonomy-eligible (A.2.) turnover, year N-1** |  |  **Enabling**   \n**activities** |  |  **Transi-**   \n**tional**  \n**activities**  \n**A. Taxonomy-eligible activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nA.1. Environmentally sustainable activities (taxonomy-aligned)  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nManufacture of renewable  \nenergy technologies  |  |  CCM 3.1  |  |  624  |  |  3.8 %  |  |  Y  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  4.9 %  |  |  E  |  |   \nTurnover of environmentally sustainable activities (taxonomy-aligned) (A.1)  |  |  |  |  624  |  |  3.8 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  4.9 %  |  |  |  |   \nOf which enabling  |  |  |  |  624  |  |  3.8 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  4.9 %  |  |  E  |  |   \nOf which transitional  |  |  |  |  0  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  0.0 %  |  |  |  |  T   \nA.2  Taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities)  |  |  |  |  |  |  |  |  |  |   \nManufacture of automotive and  \nmobility components  |  |  CCM 3.18  |  |  430  |  |  2.6 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nManufacture of rail rolling stock  \nconstituents  |  |  CCM 3.19  |  |  239  |  |  1.5 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \n  \nManufacturing of aircraft  |  |  CCM 3.21  |  |  257  |  |  1.6 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nTurnover of taxonomy-eligible but not environmentally sustainable activities  \n(not taxonomy-aligned activities) (A.2)  |  |  |  |  926  |  |  5.7 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nA. Turnover of taxonomy-eligible activities (A1+A2)  |  |  |  |  1,551  |  |  9.5 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  4.9 %  |  |  |  |   \n**B. Taxonomy-non-eligible activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nTurnover of Taxonomy-non-eligible activities  |  |  |  |  14,762  |  |  90.5 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \n**Total** |  |  |  |  **16,313** |  |  100 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \n  \n  1. **CCM** Climate change mitigation \n  2. **CCA** Climate change adaptation \n  3. **WTR** Water and marine resources \n  4. **PPC** Pollution prevention and control \n  5. **CE** Circular economy \n  6. **BIO** Biodiversity and ecosystems \n\n**Y** Yes, taxonomy-eligible and taxonomy-aligned activity with the relevant\nenvironmental objective  \n**N** No, taxonomy-eligible but not taxonomy-aligned activity with the\nrelevant environmental objective  \n**E** Enabling activity  \n**T** Transitional activity  \n**N/EL** Taxonomy-non-eligible activity for the relevant objective  \n**EL** Taxonomy-eligible activity for the relevant objective  Part of NFR\n\n###  Part of NFR  CapEx\n\n|  |  |  |  |  |  |  |  **Substantial contribution criteria** |  |  **DNSH criteria (\u201cNo significant harm\u201d)** |  |  **Category**  \n---|---|---|---|---|---|---|---|---|---|---|---|---  \n**Economic activities** |  |  **Code** |  |  **CapEx**   \n**in \u20ac millions** |  |  **Proportion of CapEx**   \n**Year N** |  |  **CCM** ** 1)  ** |  |  **CCA** ** 2)  ** |  |  **WTR** ** 3)  ** |  |  **PPC** ** 4)  ** |  |  **CE** ** 5)  ** |  |  **BIO** ** 6)  ** |  |  **CCM** ** 1)  ** |  |  **CCA** ** 2)  ** |  |  **WTR** ** 3)  ** |  |  **PPC** ** 4)  ** |  |  **CE** ** 5)  ** |  |  **BIO** ** 6)  ** |  |  **Minimum safe-guards** |  |  **Proportion of**   \n**taxonomy-aligned (A.1.) or taxonomy-eligible (A.2.) CapEx, year N-1** |  |  **Enabling**   \n**activities** |  |  **Transi-tional**   \n**activities**  \n**A. Taxonomy-eligible activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nA.1. CapEx of environmentally sustainable activities (taxonomy-aligned)  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nManufacture of renewable energy technologies (CapEx A)  |  |  CCM 3.1  |  |  28  |  |  2.8 %  |  |  Y  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  2.6 %  |  |  E  |  |   \nInstallation, maintenance and repair  \nof energy efficiency equipment (CapEx C)  |  |  CCM 7.3  |  |  1  |  |  0.1 %  |  |  Y  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  n. a.  |  |  E  |  |   \nInstallation, maintenance and repair  \nof renewable energy technologies (CapEx C)  |  |  CCM 7.6  |  |  10  |  |  1.0 %  |  |  Y  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  0.7 %  |  |  E  |  |   \nAcquisition and ownership of buildings (CapEx A)  |  |  CCM 7.7  |  |  91  |  |  9.0 %  |  |  Y  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  7.5 %  7)  |  |  |  |   \nCapEx of environmentally sustainable activities (taxonomy-aligned) (A.1)  |  |  |  |  130  |  |  12.9 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  10.8 %  |  |  |  |   \nOf which enabling  |  |  |  |  39  |  |  3.9 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  3.3 %  |  |  E  |  |   \nOf which transitional  |  |  |  |  0  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  0.0 %  |  |  |  |  T   \nA.2. Taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities)  |  |  |  |  |  |  |  |  |  |  |  |   \nManufacture of automotive and  \nmobility components (CapEx A)  |  |  CCM 3.18  |  |  114  |  |  11.4 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nManufacture of rail rolling stock  \nconstituents (CapEx A)  |  |  CCM 3.19  |  |  8  |  |  0.8 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nManufacturing of aircraft (CapEx A)  |  |  CCM 3.21  |  |  11  |  |  1.1 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nTransport by motorbikes, passenger cars and light commercial vehicles (CapEx A)  |  |  CCM 6.5  |  |  34  |  |  3.4 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  2.3 %  |  |  |  |   \nRenovation of existing buildings (CapEx A)  |  |  CCM 7.2/ CE 3.2  |  |  12  |  |  1.2 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  3.6 %  |  |  |  |   \nInstallation, maintenance and repair of energy efficiency equipment (CapEx C)  |  |  CCM 7.3  |  |  5  |  |  0.5 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nAcquisition and ownership of buildings (CapEx A)  |  |  CCM 7.7  |  |  63  |  |  6.3 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  10.1 %  |  |  |  |   \nCapEx of taxonomy-eligible but not  \nenvironmentally sustainable activities  \n(not taxonomy-aligned activities) (A.2)  |  |  |  |  248  |  |  24.6 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  16.0 %  |  |  |  |   \nA.  CapEx of taxonomy-eligible activities (A1+A2)  |  |  |  |  377  |  |  37.5 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  26.8 %  |  |  |  |   \n**B. Taxonomy-non-eligible activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nCapEx of Taxonomy-non-eligible activities  |  |  |  |  629  |  |  62.5 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \n**Total** |  |  |  |  **1,006** |  |  100 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \n  \n  1. **CCM** Climate change mitigation \n  2. **CCA** Climate change adaptation \n  3. **WTR** Water and marine resources \n  4. **PPC** Pollution prevention and control \n  5. **CE** Circular economy \n  6. **BIO** Biodiversity and ecosystems \n  7. Adjusted by 1.3 % due to revaluation. As assets under construction result in additions to property construction phase over several years, the valuation must be carried out several times, which must be carried out several times, which can lead to changes in prior estimates. \n\n**Y** Yes, taxonomy-eligible and taxonomy-aligned activity with the relevant\nenvironmental objective  \n**N** No, taxonomy-eligible but not taxonomy-aligned activity with the\nrelevant environmental objective  \n**E** Enabling activity  \n**T** Transitional activity  \n**N/EL** Taxonomy-non-eligible activity for the relevant objective  \n**EL** Taxonomy-eligible activity for the relevant objective  Part of NFR\n\n###  Part of NFR  OpEx\n\n|  |  |  |  |  |  |  |  **Substantial contribution criteria** |  |  **DNSH criteria (\u201cNo significant harm\u201d)** |  |  **Category**  \n---|---|---|---|---|---|---|---|---|---|---|---|---  \n**Economic activities** |  |  **Code** |  |  **OpEx**   \n**in \u20ac millions** |  |  **Proportion of OpEx**   \n**Year N** |  |  **CCM** ** 1)  ** |  |  **CCA** ** 2)  ** |  |  **WTR** ** 3)  ** |  |  **PPC** ** 4)  ** |  |  **CE** ** 5)  ** |  |  **BIO** ** 6)  ** |  |  **CCM** ** 1)  ** |  |  **CCA** ** 2)  ** |  |  **WTR** ** 3)  ** |  |  **PPC** ** 4)  ** |  |  **CE** ** 5)  ** |  |  **BIO** ** 6)  ** |  |  **Minimum safe-guards** |  |  **Proportion of**   \n**taxonomy-aligned (A.1.) or taxonomy-eligible (A.2.) OpEx, year N-1** |  |  **Enabling**   \n**activities** |  |  **Transi-tional**   \n**activities**  \n**A. Taxonomy-eligible activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nA.1. Environmentally sustainable activities (taxonomy-aligned)  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nManufacture of renewable  \nenergy technologies (OpEx A)  |  |  CCM 3.1  |  |  27  |  |  2.3 %  |  |  Y  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  3.0 %  |  |  E  |  |   \nOpEx of environmentally sustainable activities (taxonomy-aligned) (A.1)  |  |  |  |  27  |  |  2.3 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  3.0 %  |  |  |  |   \nOf which enabling  |  |  |  |  27  |  |  2.3 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  Y  |  |  3.0 %  |  |  E  |  |   \nOf which transitional  |  |  |  |  0  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  0.0 %  |  |  |  |  T   \nA.2. Taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities)  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nManufacture of automotive and  \nmobility components (OpEx A)  |  |  CCM 3.18  |  |  179  |  |  15.6 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nManufacture of rail rolling stock constituents (OpEx A)  |  |  CCM 3.19  |  |  10  |  |  0.9 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nManufacture of aircraft (OpEx A)  |  |  CCM 3.21  |  |  9  |  |  0.8 %  |  |  EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  N/EL  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nOpEx of taxonomy-eligible but not  \nenvironmentally sustainable activities  \n(not taxonomy-aligned activities) (A.2)  |  |  |  |  197  |  |  17.2 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  n. a.  |  |  |  |   \nA. OpEx of taxonomy-eligible activities (A1+A2)  |  |  |  |  224  |  |  19.6 %  |  |  100 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  0.0 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  3.0 %  |  |  |  |   \n**B. Taxonomy-non-eligible activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \nOpEx of taxonomy-non-eligible activities  |  |  |  |  920  |  |  80.4 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \n**Total** |  |  |  |  **1,144** |  |  100 %  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |   \n  \n  1. **CCM** Climate change mitigation \n  2. **CCA** Climate change adaptation \n  3. **WTR** Water and marine resources \n  4. **PPC** Pollution prevention and control \n  5. **CE** Circular economy \n  6. **BIO** Biodiversity and ecosystems \n\n**Y** Yes, taxonomy-eligible and taxonomy-aligned activity with the relevant\nenvironmental objective  \n**N** No, taxonomy-eligible but taxonomy-aligned activity with the relevant\nenvironmental objective  \n**E** Enabling activity  \n**T** Transitional activity  \n**N/EL** Taxonomy-non-eligible activity for the relevant objective  \n**EL** Taxonomy-eligible activity for the relevant objective  Part of NFR\n\n###  Part of NFR  Reporting the scope of taxonomy eligibility and alignment in\naccordance with environmental objective  \nin percentage\n\n|  Proportion of turnover/total turnover  |  Proportion of CapEx/total CapEx  |  Proportion of OpEx/total OpEx   \n---|---|---|---  \n|  **Aligned per**  \n**objective** |  **Eligible per**   \n**objective** |  **Aligned per objective** |  **Eligible per objective** |  **Aligned per objective** |  **Eligible per objective**  \nCCM  |  3.8  |  9.5  |  12.9  |  37.5  |  2.3  |  19.6   \nCCA  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0   \nWTR  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0   \nCE  |  0.0  |  0.0  |  0.0  |  1.2  |  0.0  |  0.0   \nPPC  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0   \nBIO  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0  |  0.0   \n  \n**CCM** Climate change mitigation  \n**CCA** Climate change adaptation  \n**WTR** Water and marine resources  \n**CE** Circular economy  \n**PPC** Pollution prevention and control  \n**BIO** Biodiversity and ecosystems  Part of NFR\n\n[ Previous page  About the report  ](/2023/data-and-other-information/about-\nthe-report)\n\n[ Next page  Key figures on sustainability  ](/2023/data-and-other-\ninformation/key-figures-on-sustainability)\n\nRelated links\n\n[ Green products ](/2023/environment/green-products)\n\n  * [ Downloads  ](/2023/service-links/downloads)\n  * ####  Share \n\n    * [ Twitter  ](http://twitter.com/share?url=https%3A%2F%2Fwww.schaeffler-sustainability-report.com%2F2023%2Fdata-and-other-information%2Feu-taxonomy-reporting)\n    * [ Facebook  ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.schaeffler-sustainability-report.com%2F2023%2Fdata-and-other-information%2Feu-taxonomy-reporting)\n    * [ LinkedIn  ](http://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.schaeffler-sustainability-report.com%2F2023%2Fdata-and-other-information%2Feu-taxonomy-reporting)\n\nSchaeffler Group\n\n  * [ Corporate Website ](https://www.schaeffler.com/en/)\n  * [ Sustainability at Schaeffler ](https://www.schaeffler.com/en/group/sustainability/)\n  * [ Annual Report 2023 (PDF) ](https://www.schaeffler.com/remotemedien/media/_shared_media_rwd/08_investor_relations/reports/2023_ar/2023_schaeffler_annual_report_en_1zsxf4.pdf)\n  * [ Schaeffler tomorrow ](https://schaeffler-tomorrow.de/en)\n\nService links\n\n  * [ Downloads ](/2023/service-links/downloads)\n  * [ GRI index ](/2023/data-and-other-information/gri-index)\n  * [ NFR index ](/2023/data-and-other-information/nfr-index)\n\nDo you have any questions?\n\nPlease contact us and we will get in touch with you as soon as possible.\n\n[ Contact us ](https://www.schaeffler.com/en/investor-relations/ir-contact/)\n\n\u00a9 Schaeffler AG  | [ Glossary ](/2023/glossary) [ Imprint ](/2023/imprint) [ Cookie Policy ](/2023/cookie-policy) [ Privacy ](/2023/privacy) [ Terms of Use ](/2023/terms-of-use)\n\n[ ](https://www.linkedin.com/company/schaeffler) [\n](https://www.facebook.com/schaefflergroup) [\n](https://www.instagram.com/schaefflergroup/) [\n](https://www.twitter.com/schaefflergroup) [\n](https://www.youtube.com/Schaeffler)\n\nzum Seitenanfang\n\n",
                "url": "https://www.schaeffler-sustainability-report.com/2023/data-and-other-information/eu-taxonomy-reporting"
            },
            "reason": "This is the official sustainability report website for Schaeffler, a reliable source for information regarding their sustainability efforts and EU taxonomy reporting.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' materiality assessment",
            "summary": "This is the official sustainability report website for Schaeffler, a reliable source for information regarding their sustainability efforts and EU taxonomy reporting.",
            "url": "https://www.schaeffler-sustainability-report.com/2023/data-and-other-information/eu-taxonomy-reporting"
        },
        {
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                    "source": "https://corporate.abercrombie.com/sustainability/policies-resources/sustainability-accounting-standards-board-sasb/"
                },
                "page_content": "Skip to content\n\n#  Sustainability Accounting Standards Board (SASB)\n\nThe Sustainability Accounting Standards Board (SASB), now part of the IFRS\nFoundation, set standards that help companies disclose relevant sustainability\ninformation for investor use. Outlined below are relevant indicators from the\nApparel, Accessories & Footwear Standard for FY23, unless otherwise noted in\nthe table or our website.  (1)\n\n**Topic**\n\n**Metric**\n\n**Category**\n\n**Unit of Measure**\n\n**Code**\n\n**Data**\n\n**Reference**\n\nActivity Metric\n\nNumber of (1) Tier 1 suppliers and (2) suppliers beyond Tier 1\n\nQuantitative\n\nNumber\n\nCG-AA-000.A\n\n  1. 249 \n  2. 146 \n\n[ Social Impact \u2013 Supplier Assessments\n](https://corporate.abercrombie.com/sustainability/social-impact/supplier-\nassessments/)\n\nManagement of Chemicals in Products\n\nDiscussion of processes to maintain compliance with restricted substances\nregulations\n\nDiscussion and Analysis\n\nN/A\n\nCG-AA-250a.1\n\nNot applicable\n\n[ Substance Restrictions\n](https://corporate.abercrombie.com/sustainability/environmental-\nimpact/abercrombie-fitch-substance-restrictions-2022/)\n\nManagement of Chemicals in Products\n\nDiscussion of processes to assess and manage risks and/or hazards associated\nwith chemicals in products\n\nDiscussion and Analysis\n\nN/A\n\nCG-AA-250a.2\n\nNot applicable\n\n[ Substance Restrictions\n](https://corporate.abercrombie.com/sustainability/environmental-\nimpact/abercrombie-fitch-substance-restrictions-2022/)\n\nEnvironmental Impacts in the Supply Chain\n\nPercentage of (1) Tier 1 supplier facilities and (2) supplier facilities\nbeyond Tier 1 in compliance with wastewater discharge permits and/or\ncontractual agreement\n\nQuantitative\n\nPercentage (%)\n\nCG-AA-430a.1\n\n  1. In 2023, a total of 118 facilities completed ZDHC wastewater testing with 97% compliance.* This includes 100% of our denim washhouses and garment dyehouses and 71% of fabric mills by production volume. \n\n_*Compliance refers to test results that meet ZDHC Heavy Metals Wastewater\nParameters and Limits, Table 2 and Conventional Parameters and Anon for\nWastewater, Table 3 according to ZDHC Wastewater Guidelines Version 2.1_\n\n[ Water ](https://corporate.abercrombie.com/sustainability/environmental-\nimpact/water/)\n\nEnvironmental Impacts in the Supply Chain\n\nPercentage of (1) Tier 1 supplier facilities and (2) supplier facilities\nbeyond Tier 1 that have completed the Sustainable Apparel Coalition\u2019s Higg\nFacility Environmental Module (Higg FEM) assessment or an equivalent\nenvironmental data assessment\n\nQuantitative\n\nPercentage (%)\n\nCG-AA-430a.2\n\n  1. In FY2023, 571 facilities including Tier 1 \u2013 cut and sew, Tier 2 \u2013 laundry, print & embroidery and trim and Tier 3 \u2013 fabric mill, completed the Higg FEM assessment. \n  2. Aggregated percentage of facilities who completed FEM self-assessment = 90% \n  3. Aggregated percentage of facilities who completed FEM verification = 75% \n\n[ Social Impact \u2013 Supplier Assessments\n](https://corporate.abercrombie.com/sustainability/social-impact/supplier-\nassessments/)\n\nLabor Conditions in the Supply Chain\n\nPercentage of (1) Tier 1 supplier facilities and (2) supplier facilities\nbeyond Tier 1 that have been audited to a labor code of conduct, (3)\npercentage of total audits conducted by a third-party auditor\n\nQuantitative\n\nPercentage (%)\n\nCG-AA-430b.1\n\n(1) 100%\n\n(2) 90%\n\n(3) 100%\n\n[ Social Impact \u2013 Supplier Assessments\n](https://corporate.abercrombie.com/sustainability/social-impact/supplier-\nassessments/)\n\nLabor Conditions in the Supply Chain\n\nPriority non-conformance rate and associated corrective action rate for\nsuppliers\u2019 labor code of conduct audits\n\nQuantitative\n\nRate\n\nCG-AA-430b.2\n\nSee our Supplier Metrics page for audit highlights\n\n[ Factory Audit Details\n](https://corporate.abercrombie.com/sustainability/social-impact/factory-\naudit-details/)\n\nLabor Conditions in the Supply Chain\n\nDescription of the greatest (1) labor and (2) environmental, health, and\nsafety risks in the supply chain\n\nDiscussion and Analysis\n\nN/A\n\nCG-AA-430b.3\n\nNot applicable\n\n[ Vendor Code of Conduct\n](https://corporate.abercrombie.com/sustainability/policies-resources/vendor-\ncode-of-conduct/)\n\nRaw Materials Sourcing\n\n(1) List of priority raw materials; for each priority raw material: (2)\nenvironmental or social factor(s) most likely to threaten sourcing, (3)\ndiscussion on business risks or opportunities associated with environmental or\nsocial factors and (4) management strategy for addressing business risks and\nopportunities\n\nDiscussion and Analysis\n\nN/A\n\nCG-AA-440a.3\n\nNot applicable\n\n[ Product Sustainability \u2013 Materials\n](https://corporate.abercrombie.com/sustainability/product-\nsustainability/materials/)\n\nRaw Materials Sourcing\n\n(1) Amount of priority raw materials purchased, by material, and (2) amount of\neach priority raw material that is certified to third-party environmental or\nsocial standard, by standard\n\nQuantitative\n\nMetric tons (t)\n\nCG-AA-440a.4\n\nSee data table below\n\n[ Product Sustainability \u2013 Materials\n](https://corporate.abercrombie.com/sustainability/product-\nsustainability/materials/)\n\n**Metric**\n\n****Raw Material** **\n\n****Data** **\n\n****Year** **\n\n(1) Amount of priority raw materials purchased, by material\n\nTotal Cotton\n\nTotal Polyester (Fill)\n\nTotal Polyester (Fabric)\n\n31,943 metric tons\n\n3,238,194 units\n\n93,034,647 units\n\nCY2023\n\nFY2023\n\nFY2023\n\n(2) Amount of each priority raw material that is certified to third-party\nenvironmental or social standard, by standard\n\nBetter Cotton Initiative (BCI)\n\nRecycled Polyester (Fill)\n\nRecycled Polyester (Fabric)\n\n9,239 metric tons\n\n3,065,027 units\n\n4,202,580 units\n\nCY2023\n\nFY2023\n\nFY2023\n\n(1)  _The inclusion of information contained in this disclosure should not be\nconstrued as a characterization regarding the materiality or financial impact\nof that information to current or prospective investors in, or other\nstakeholders of, Abercrombie & Fitch Co. When we refer to \u201cmateriality\u201d and\nour \u201cmateriality assessment\u201d, we are referring to the identification of\nmaterial issues for purposes of guiding our ESG (Environmental, Social and\nGovernance) strategies, goals, and programs, and we are not using the\ndefinition of materiality for purposes of our financial statements or other\nfilings with the U.S. Securities and Exchange Commission (SEC). _\n\n**Follow Abercrombie & Fitch Co **\n\n  * [ Instagram  ](https://www.instagram.com/lifeatanf/)\n  * [ LinkedIn  ](https://www.linkedin.com/company/abercrombie-&-fitch/)\n  * [ TikTok  ](https://www.tiktok.com/@abercrombie?lang=en)\n\n* * *\n\n##  **FOLLOW ALONG OUR JOURNEY...**\n\nSee the latest news and events on Instagram and connect with us on LinkedIn...\n\n  * [ Instagram  ](https://www.instagram.com/lifeatanf)\n  * [ LinkedIn  ](https://www.linkedin.com/company/abercrombie-&-fitch/)\n\n[ Website Terms Of Use\n](https://www.abercrombie.com/shop/CustomerService?textKey=HELP_SITEUSE&catalogId=10901&langId=-1&pageName=site-\nuse&storeId=10051) _|_ [ Privacy Notice\n](https://corporate.abercrombie.com/privacy-notice/) _|_ \u00a92025 - Abercrombie &\nFitch Co _|_ All Right Reserved\n\n",
                "url": "https://corporate.abercrombie.com/sustainability/policies-resources/sustainability-accounting-standards-board-sasb/"
            },
            "reason": "This is a page on Abercrombie & Fitch's corporate website dedicated to their sustainability policies and resources, specifically related to the Sustainability Accounting Standards Board (SASB). It is a reliable source for information about their sustainability initiatives.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' materiality assessment",
            "summary": "This is a page on Abercrombie & Fitch's corporate website dedicated to their sustainability policies and resources, specifically related to the Sustainability Accounting Standards Board (SASB).",
            "url": "https://corporate.abercrombie.com/sustainability/policies-resources/sustainability-accounting-standards-board-sasb/"
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                    "source": "https://www.intgas.com/energy-efficiency_program/commercial-energy-efficiency/"
                },
                "page_content": "Scroll Top\n\n[ ](https://www.intgas.com/ \"Home\")\n\n__ __\n\n[ Login ](https://customer.intgas.com/login)\n\n#  Commercial Energy Efficiency\n\n[ Home  ](https://www.intgas.com/) [ Intermountain Gas Energy Efficiency\nProgram  ](https://www.intgas.com/energy-efficiency_program/) Commercial\nEnergy Efficiency\n\n**Installing high-efficiency natural gas appliances in your business is a\nsmart investment that will save you money. Energy-efficient equipment makes\nyour energy dollars go farther. In addition to saving more by using efficient\nequipment, Intermountain Gas offers rebates to keep even more money in your\npocket. Who doesn\u2019t like that?**\n\n###  Heating Incentives\n\nEligible Appliance  |  Efficiency Rating  |  Rebate   \n---|---|---  \nCondensing Unit Heater  |  90% AFUE or Greater Efficiency  |  $1,500   \nBoiler Reset Control  |  N/A  |  $350   \nHigh-Efficiency Condensing Boiler  |  90% or Greater Thermal Efficiency and \u2265300 kBTUh  |  $4.50/kBTUh   \n  \n###  Kitchen Equipment Incentives\n\nEligible Appliance  |  Efficiency Rating  |  Rebate   \n---|---|---  \nFryer  |  ENERGY STAR\u00ae Certified  |  $800   \nSteamer  |  ENERGY STAR\u00ae Certified (\u226538% cooking eff/\u22642,038 BTU/hr/pan Idle Rate)  |  $1,100   \nGriddle  |  ENERGY STAR\u00ae Certified (\u226538% cooking eff/\u22642,650 BTU/hr/pan Idle Rate)  |  $200   \n  \n#####  [ **ENERGY STAR\u00ae Commercial Food Service Product Finder**\n](https://www.energystar.gov/products/commercial_food_service_equipment)\n\n**Contact Information:**\n\n**Dane Jacobsen**\n\nCommercial Energy Efficiency Analyst III\n\nEmail: **[ [email protected]  ](/cdn-cgi/l/email-\nprotection#3d595c535813575c5e525f4e58537d5453495a5c4e135e5250) **\n\nPhone: **[ 208-985-4040 ](tel:12089854040) **\n\n**Intermountain Gas Energy Efficiency Program**\n\nEmail: **[ [email protected]  ](/cdn-cgi/l/email-\nprotection#394a584f5c5c575c4b5e407950574d5e584a175a5654) **\n\nPhone: **[ 208-377-6840 ](tel:12083776840) ** \u2013 Treasure Valley\n\n**[ 800-548-3679 ](tel:18005483679) ** , Opt. 4 \u2013 all other areas\n\n**You can apply for rebates directly from your customer account. Log in here\nto get started!**\n\n[ Online Commercial Energy Efficiency Rebate Applications _\uf109_\n](https://customer.intgas.com/login \"Online Commercial Energy Efficiency\nRebate Applications\")\n\n[ Download Commercial Energy Efficiency Heating Incentive Rebate Application\n_\uf1c1_ ](/wp-content/uploads/PDFs/energy_efficiency/rebate_forms/2021/Commercial-\nHeating-Incentive-Application112021.pdf \"Download Commercial Energy Efficiency\nHeating Incentive Rebate Application\")\n\n[ Download Commercial Energy Efficiency Kitchen Equipment Rebate Application\n_\uf1c1_ ](/wp-content/uploads/PDFs/energy_efficiency/rebate_forms/2021/Commercial-\nKitchen-Incentives-Application112021.pdf \"Download Commercial Energy\nEfficiency Kitchen Equipment Rebate Application\")\n\n[ ](https://customer.intgas.com/login)\n\n####  Checklist of Common Energy-Saving Measures\n\nCourtesy of ENERGY STAR\u00ae\n\n######  Operations and Maintenance  __\n\nConduct a nighttime audit to find out what appliances are on afterhours that\nshould be turned off.\n\n\u2705 Improve operations and maintenance practices by regularly checking and\nmaintaining equipment to ensure that it\u2019s functioning efficiently\n\n\u2705 Optimize start-up time, power-down time, and equipment\n\n\u2705 Revise janitorial practices to reduce the hours that lights are turned on\neach day. Consider switching to day-cleaning, which takes place while\noccupants are in the building and has shown to also reduce complaints\n\n\u2705 Review and emphasize the financial and environmental results of a\npreventative maintenance program for major systems and components\n\n\u2705 Set goals and a methodology to track and reward\n\n\u2705 Visually inspect insulation on all piping, ducting and equipment for damage\n(tears, compression, stains, etc.)\n\n\u2705 Ask your utility if they offer free or inexpensive energy\n\n\u2705 Retro or re-commission the building to make sure it\u2019s running the way it was\n\n\u2705 Consider energy audits to identify areas where building systems have become\ninefficient over time and bring them back to peak performance\n\n\u2705 Repair leaking faucets: A dripping hot water faucet can leak hundred of\ngallons per year\n\n\u2705 Swap out incandescent light bulbs with ENERGY STAR certified LEDs in your\nhousehold\n\n\u2705 Install occupancy sensors to automatically turn off lights when no one is\npresent and back on when people return. Storage rooms, back-of-house spaces,\nmeeting rooms, and other low-traffic areas are often good places to install\nthem. And don\u2019t forget \u2014 even good equipment can be installed incorrectly, so\ndon\u2019t install the sensor behind a coat rack, door, bookcase, etc. It must be\nable to \u201csee\u201d an approaching person\u2019s motion to turn on the light as they\nenter an unlit room\n\n\u2705 Examine the opportunity to switch from high-pressure sodium lamps to metal\nhalide lamps in parking lots and consider upgrading to LED lighting for\noutdoor signage\n\n######  Heating and Cooling  __\n\n#####  LOW-COST MEASURES\n\n\u2705 Set back the thermostat in the evenings and other times when the building\nisn\u2019t too warm or cold\n\n\u2705 Perform monthly maintenance of heating and cooling equipment to guarantee\nefficient operation throughout the year\n\n\u2705 Regularly change or clean HVAC filters every month during peak cooling or\nheating season. Dirty filters cost more to use, overwork the equipment, and\nresult in lower indoor air quality\n\n\u2705 Plug air leaks with weather stripping\n\n\u2705 Calibrate thermostats to ensure that their ambient temperature readings are\ncorrect, and adjust temperature set points for seasonal changes\n\n\u2705 Use shades and blinds to control direct sun through windows in both summer\nand winter to prevent or encourage heat gain\n\n  * During cooling season, block direct heat gain from the sun shining through glass on the east and especially west sides of the facility. Depending on your facility, options such as \u201csolar screens,\u201d \u201csolar films,\u201d awnings, and vegetation can help. Over time, trees can naturally shade the facility and help clean the air. Interior curtains or drapes can help, but it\u2019s best to prevent the summer heat from getting past the glass \n  * During heating season, with the sun low in the south, unobstructed southern windows can contribute solar heat gain during the day \n\n\u2705 Make sure that areas in front of vents are clear of furniture and paper. As\nmuch as 25 percent more energy is required to distribute air if your vents are\nblocked\n\n\u2705 Clean the evaporator and condenser coils on heat pumps and air-conditioners.\n\n\u2705 Repair leaks and adjust pressure in compressed air\n\n\u2705 Repair steam trap leaks; replace malfunctioning steam traps\n\n\u2705 Repair damaged insulation and replace missing insulation with thicknesses\ncalculated for the operating and ambient conditions of the mechanical system\n\n\u2705 Keep exterior doors closed while running your HVAC. It sounds simple, but it\nwill help avoid wasteful loss of heated or cooled air! If your building is\nequipped with revolving doors, encourage or require their use as opposed to\nswinging doors\n\n#####  RAPID PAYBACK MEASURES\n\n\u2705 Tune up your heating, ventilation, and air conditioning (HVAC) system with\nan annual maintenance contract. Even a new HVAC system, like a new car, will\ndecline in performance without regular maintenance. A contract automatically\nensures that your HVAC contractor will provide \u201cpre-season\u201d tune-ups before\neach cooling and heating season. Your chances of an emergency HVAC breakdown\nalso decrease with regular maintenance\n\n\u2705 Install variable frequency drives (VFDs)\n\n\u2705 Balance air and water\n\n\u2705 Install window films and add insulation or reflective roof coating to reduce\nenergy\n\n######  Occupant Behavior and Education  __\n\n#####  LOW-COST MEASURES\n\n\u2705 Create a mechanism for occupants or employees to share their suggestions\nwith you. Make sure you respond to comments and act on recommendations when\nfeasible. You may even offer a reward for the best energy-saving ideas\n\n\u2705 Educate staff members about the basic principles of energy management and\nempower them to establish their own departmental green teams. Check out the [\nENERGY STAR Green Team ](https://www.energystar.gov/buildings/tools-and-\nresources/bring-your-green-work-green-team-checklist) [ Checklist\n](https://www.energystar.gov/buildings/tools-and-resources/bring-your-green-\nwork-green-team-checklist) for steps and considerations to take into account\nwhen establishing a green team\n\n\u2705 Share your energy efficiency goals. Transparency is the first step to\ngetting the people inside your building or space interested in what you\u2019re\ndoing\n\n\u2705 Display the past 6\u201312 months of energy use information in a high-traffic\narea or distribute it as part of a regular report. Seeing the data and any\ntrends in energy use can inspire occupants and employees to contribute to\ncontinued savings\n\n\u2705 Encourage actions that apply to most of your employees\u2019 workspaces, or that\ncan be practiced at work and at home, like turning off lights when not in use\nand activating computer power management features\n\n\u2705 Print and hang banners, posters, and signs with energy-saving messages in\nhigh-traffic areas in your space or in areas like lobbies, elevators,\nhallways, over water fountains, and in break rooms\n\n\u2705 Create door hangers, post-it note reminders, or light switch covers to help\noccupants or employees remember to take action. Some K-12 schools have started\nenergy patrols, in which students pass out \u201coops\u201d and \u201cwow\u201d stickers to\nencourage behavior change\n\n\u2705 Hold an energy fair, conduct an energy awareness event in the lobby, or\noffer building tours to give occupants a sneak peek at the inner workings of\nthe building\n\n\u2705 Host a brownbag, hold a webinar, or present about why it\u2019s important to save\nenergy at staff meetings, tenant meetings, or other get-togethers. You can\nalso integrate information about your energy program into your organization\u2019s\norientation training\n\n\u2705 Give incentives and recognition. Consider starting small with something like\na pizza party, ice cream social, bagel breakfast, or other food rewards for\nhitting goals or making progress. Depending on savings levels, you may also\nconsider awarding cash or prizes for great energy- saving ideas or to energy\nchampions\n\nUse this **[ Commercial Food Service Equipment Calculator\n](http://cfscalc.gastechnology.org/BuildRes) ** to see how much you can save\nby installing High Efficiency Natural Gas Cooking equipment in your business.\nWith the calculator, you are able to input your business\u2019s information and e\nstimate the savings in energy costs and energy consumption when you upgrade to\nhigh-efficiency equipment, and download a PDF summary of your customized\nproject. Don\u2019t forget your rebate from Intermountain Gas when you install\nENERGY STAR certified fryers, griddles and steamers.\n\n  * [ ](https://www.intgas.com/wp-content/uploads/PDFs/energy_efficiency/energy_star/igc_ee_food_service_example_Page_1.jpg)\n  * [ ](https://www.intgas.com/wp-content/uploads/PDFs/energy_efficiency/energy_star/igc_ee_food_service_example_Page_2.jpg)\n\n###  Frequently Asked Questions\n\n######  How long do I have to apply for my rebate?  __\n\nAs a general guideline, rebate applications must be submitted within 90 days\nof installation. Completion of large or complex projects may extend outside\nthis timeframe and may be handled on a case-by-case basis. Please contact IGC\nat [ 800-548-3679 ](tel:8005483679) , Opt. 4, with questions.\n\n######  Is my rebate a credit on my bill?  __\n\nYou will receive your rebate check in the mail.\n\n######  How long does it take to get my rebate?  __\n\nPlease allow for six to eight weeks for rebate processing.\n\n######  Do we have to install specific brands to qualify?  __\n\nNope! As long as it meets the minimum efficiency requirements it is eligible.\n\n######  Eligibility Requirements:\n\n  * Commercial customers of Intermountain Gas Company (IGC) served on its General Service (GS-1) rate schedule in the state of Idaho. \n  * Rebates apply only to the purchase and installation of new equipment, used equipment does not qualify. \n  * Customer must solely heat the property with natural gas provided by IGC to qualify for all space heating rebates. \n  * All equipment **must** be installed according to current code and approved by local or state inspection with the signed approved permit attached to the newly installed equipment. \n  * All equipment **must** be installed, and work completed by a licensed and bonded contractor. At its sole discretion, IGC may make eligible the work of other qualified contractors on a case-by-case basis. \n\n[ \uf1f1  \uf1f1  800-548-3679  ](tel:8005483679)\n\n[ \uf240  \uf240  Contact Us  ](https://www.intgas.com/contact-us/ \"Contact Us\")\n\n[ \uf200  \uf200  Survey  ](https://www.intgas.com/in-the-community/survey/ \"Survey\")\n\n[ \uf0c0  \uf0c0  Careers  ](https://www.intgas.com/in-the-community/careers/ \"Careers\")\n\n[ \uf502  \uf502  Sitemap  ](https://www.intgas.com/sitemap/ \"Sitemap\")\n\n[ \uf155  \uf155  Payment Options  ](https://www.intgas.com/customer-service/payment-\noptions/ \"Payment Options\")\n\n[ \uf40a  \uf40a  Online Account Services  ](https://www.intgas.com/customer-\nservice/online-account-services/ \"Online Account Services\")\n\n[ \ue91c  \ue91c  Customer Service  ](https://www.intgas.com/customer-service/ \"Customer\nService\")\n\n[ \\+  \\+  Start, Stop, or Transfer Service  ](https://www.intgas.com/customer-\nservice/start-stop-or-transfer-service/ \"Start, Stop, or Transfer Service\")\n\n####  Latest News\n\n[ Intermountain Gas Reminds Customers What to do if They Suspect a Gas Leak\n](https://www.intgas.com/intermountain-gas-reminds-customers-what-to-do-if-\nthey-suspect-a-gas-leak/)\n\nJanuary 9, 2025\n\n[ MDU Resources Announces Promotion of Travis Jacobson to Vice President of\nRegulatory Affairs ](https://www.intgas.com/mdu-resources-announces-promotion-\nof-travis-jacobson-to-vice-president-of-regulatory-affairs/)\n\nJanuary 9, 2025\n\n\u00a9 2024 MDU Resources Group, Inc.\n\n  * [ Legal Statement __ ](https://www.mdu.com/legal-statement/)\n\n[ __ ](https://www.youtube.com/channel/UCkUaGoePJyR4Xy9i3TEVWuw/) [ __\n](https://twitter.com/intgasco) [ __\n](https://www.instagram.com/intermountain_gas/) [ __\n](https://www.facebook.com/IntermountainGas) [ __\n](https://www.linkedin.com/company/intermountain-gas-company/)\n\nWe may use cookies and other similar technologies (together \u201ccookies\u201d) to\noffer you a better web browsing experience and analyze usage. These cookies\nwon\u2019t heat your home, but much like natural gas, they\u2019re a safe and reliable\nway to keep your experience flowing smoothly. They may capture identifiers\nsuch as internet protocol addresses and internet or other electronic network\nactivity information. By continuing to use this application, you consent to\nthe use of cookies in accordance with our [ Privacy Policy\n](https://www.mdu.com/privacy-policy) .  \nAccept All  Accept  Reject  Cookie settings\n\nPrivacy & Cookies Policy\n\n####  Privacy Overview\n\nThis website uses cookies to improve your experience while you navigate\nthrough the website. Out of these cookies, the cookies that are categorized as\nnecessary are stored on your browser as they are essential for the working of\nbasic functionalities of the website. We also use third-party cookies that\nhelp us analyze and understand how you use this website. These cookies will be\nstored in your browser only with your consent. You also have the option to\nopt-out of these cookies. But opting out of some of these cookies may have an\neffect on your browsing experience.\n\nNecessary\n\nAlways Enabled\n\nNecessary cookies are absolutely essential for the website to function\nproperly. This category only includes cookies that ensures basic\nfunctionalities and security features of the website. These cookies do not\nstore any personal information.\n\nNon-necessary\n\nAny cookies that may not be particularly necessary for the website to function\nand is used specifically to collect user personal data via analytics, ads,\nother embedded contents are termed as non-necessary cookies. It is mandatory\nto procure user consent prior to running these cookies on your website.\n\nSAVE & ACCEPT\n\n",
                "url": "https://www.intgas.com/energy-efficiency_program/commercial-energy-efficiency/"
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                    "source": "https://www.jbhunt.com/our-company/esg/data-tables-and-resources"
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                "page_content": "#  Data Tables and Resources\n\n###  Additional Resources\n\n  * [ 2023 Sustainability Data Supplement ](/content/dam/jbhunt/company/esg/docs/2023-Sustainability-Data-Supplement.pdf)\n  * [ 2022 Sustainability Report ](/content/dam/jbhunt/company/docs/JBHT-Sustainability-Report-2022.pdf)\n  * [ 2021 Data Supplement ](https://www.jbhunt.com/content/dam/jbhunt/jbh/corporate-responsibility/documents/2021%20Data%20Supplement.pdf)\n  * [ 2020 Sustainability Report ](https://www.jbhunt.com/content/dam/jbhunt/jbh/corporate-responsibility/documents/2020_Sustainability_Report.pdf)\n  * [ GHG Inventory Verification ](/content/dam/jbhunt/company/esg/docs/GHG_Inventory_Verification_JBHunt_2024.pdf)\n  * [ Environmental Policy ](/content/dam/jbhunt/company/esg/docs/Environmental%20Policy%20Statement_1-10-24.pdf)\n  * [ Social Matters Summary ](https://www.jbhunt.com/content/dam/jbhunt/jbh/corporate-responsibility/documents/210714_ESG_SocialMattersSummary.pdf)\n  * [ Health & Wellness Summary ](https://www.jbhunt.com/content/dam/jbhunt/jbh/corporate-responsibility/documents/Promoting_Health_and_Wellness_2021.pdf)\n  * [ Safety Summary ](https://www.jbhunt.com/content/dam/jbhunt/jbh/corporate-responsibility/documents/210714_ESG_SafetySummary.pdf)\n  * [ Safety Policy Statement ](https://www.jbhunt.com/content/dam/jbhunt/company/docs/230728_Safety_Policy_Statement.pdf)\n  * [ Verify TRU ATCM Compliance ](https://arber.arb.ca.gov/publicTCCReports.arb)\n  * [ Full List of Standards and Protective Policies ](https://investor.jbhunt.com/governance/corporate-governance/default.aspx)\n  * [ 2025 CTC Fleet Compliance ](/content/dam/jbhunt/jbh/corporate-responsibility/documents/CTC_Fleet_Compliance_2025.pdf)\n  * [ 2025 Truck and Bus Certificate ](/content/dam/jbhunt/jbh/corporate-responsibility/documents/Truck_and_Bus_Certificate_2025.pdf)\n  * [ J.B. Hunt CDP Scores ](https://www.cdp.net/en/responses/31591/J-B-Hunt-Transport-Services-Inc?back_to=https%3A%2F%2Fwww.cdp.net%2Fen%2Fresponses%3Fqueries%255Bname%255D%3DJ.B.%2BHunt&queries%5Bname%5D=J.B.+Hunt)\n  * [ J.B. Hunt Solar Farm Fact Sheet ](/content/dam/jbhunt/company/esg/docs/JBHunt-Solar-Farm-Fact-Sheet.pdf)\n\n###  About Our Data\n\nIn recent years, J.B. Hunt has improved our efforts to transparently disclose\nand report our ESG performance to our stakeholders in our annual proxy\nstatement, on our website, in our 2020 Sustainability Report, 2021 Data\nSupplement, and in our 2022 Sustainability Report. This year, we continue that\neffort with this 2023 Data Supplement. This report has been prepared in\nreference to the Global Reporting Initiative (GRI) Standards, and in alignment\nwith the Sustainability Accounting Standards Board (SASB) and Task Force on\nClimate-related Financial Disclosures (TCFD) frameworks. Additional\ninformation on our sustainability program is available on the J.B. Hunt\nwebsite.\n\nThe information covered in this report includes data spanning financial years\n2021 to 2023 for the operations of J.B. Hunt Transport Services, Inc. (J.B.\nHunt) and its consolidated subsidiaries.\n\nJ.B. Hunt also voluntarily participates in other ESG disclosures such as CDP\n(formerly the Carbon Disclosure Project), S&P Global, Institutional\nShareholder Services (ISS) Annual Policy Survey, EcoVadis and Sustainalytics.\n\n###  Assurance\n\nScope 1, 2, and partial Scope 3 carbon data was audited by an independent\nthird party, Ruby Canyon Environmental, in accordance with ISO 14064-3:2019\nwith a reasonable level of assurance for Scope 1 and 2 and a limited level of\nassurance for Scope 3.\n\nJ.B. Hunt follows the Global Logistics Emissions Council (GLEC) Framework for\ncalculating GHG emissions.\n\n###  Data Tables\n\n####  Governance & Economic\n\n#####  **Data**\n\n|\n\n#####  **Units**\n\n|\n\n#####  **2023**\n\n|\n\n#####  **2022**\n\n|\n\n#####  **2021**  \n  \n---|---|---|---|---  \n**Board of Directors** |  |  |  |   \n_Female_ |  % of Board  |  22%  |  27%  |  27%   \nAfrican-American  |  Total Number  |  0  |  1  |  1   \nHispanic  |  Total Number  |  0  |  0  |  0   \nCaucasian  |  Total Number  |  2  |  2  |  2   \n_Male_ |  % of Board  |  78%  |  73%  |  73%   \nAfrican-American  |  Total Number  |  0  |  0  |  0   \nHispanic  |  Total Number  |  1  |  0  |  0   \nCaucasian  |  Total Number  |  6  |  8  |  8   \n_Age_ |  |  |  |   \n30-60  |  % of Board  |  56%  |  36%  |  36%   \nOver 60  |  % of Board  |  44%  |  64%  |  64%   \n_Tenure_ |  |  |  |   \n0-10 years  |  Total Number  |  2  |  2  |  2   \n11-20 years  |  Total Number  |  3  |  5  |  6   \n20+ years  |  Total Number  |  4  |  4  |  3   \n_Skills and Qualifications 1  _ |  |  |  |   \nIndustry Experience  |  % of Board  |  80%  |  43%  |  43%   \nPublic Policy  |  % of Board  |  100%  |  86%  |  86%   \nCEO/Senior Management Experience  |  % of Board  |  100%  |  100%  |  100%   \nEconomic/Accounting/Finance  |  % of Board  |  100%  |  86%  |  86%   \nHuman Resource Management  |  % of Board  |  20%  |  29%  |  29%   \nDeveloping and Implementation of Risk Management Systems  |  % of Board  |  40%  |  29%  |  29%   \nRegulatory/Legal  |  % of Board  |  100%  |  100%  |  100%   \nEnvironmental and Climate  |  % of Board  |  60%  |  n/a  |  n/a   \n**_Business Units and Revenues_ ** |  |  |  |   \n**Total Consolidated Revenue** |  **Revenue ($ Million)** |  **$12,830** |  **$14,814** |  **$12,168**  \n**J.B. Hunt Total Company Operated Revenue Ton - Miles** |  **Million Company  \nOperated Ton-Miles (Mt.m) ** |  **52,046** |  **51,765** |  **49,571**  \nIntermodal (JBI)  |  Revenue ($ Million)   \n|  $6,208  |  $7,022  |  $5,454   \n|  % of Total Revenue  \n|  48.4%  |  47.4%  |  44.8%   \n|  Loads  |  2,044,980  |  2,068,278  |  1,984,834   \nDedicated (DCS)  |  Revenue ($ Million)  |  $3,543  |  $3,524  |  $2,706   \n|  % of Total Revenue  |  27.6%  |  23.8%  |  22.2%   \n|  Loads  |  4,274,677  |  4,508,864  |  4,138,889   \nIntegrated (ICS)  |  Revenue ($ Million)  |  $1,390  |  $2,323  |  $2,471   \n|  % of Total Revenue  |  10.8%  |  15.7%  |  20.3%   \n|  Loads  |  764,839  |  1,231,334  |  1,326,979   \nFinal Mile (FMS)  |  Revenue ($ Million)  |  $918  |  $1,042  |  $909   \n|  % of Total Revenue  |  7.2%  |  7.0%  |  7.5%   \n|  Loads  |  4,596,715  |  5,636,432  |  6,677,186   \nTruckload (JBT)  |  Revenue ($ Million)  |  $789  |  $937  |  $668   \n|  % of Total Revenue  |  6.1%  |  6.3%  |  5.5%   \n|  Loads  |  410,091  |  398,070  |  327,231   \n**_Supplier Spend on Goods and Services_ ** |  |  |  |   \nTotal Spend  |  Spend ($ Million)  |  $9,270  |  $10,830  |  $8,487   \nPurchased Transportation  |  %  |  60%  |  67%  |  72%   \nTractors and Trucks  |  %  |  11%  |  7%  |  6%   \nFuel  |  %  |  9%  |  9%  |  7%   \nTrailing Equipment  |  %  |  6%  |  7%  |  5%   \nMaintenance  |  %  |  5%  |  4%  |  3%   \nOther Goods and Services  |  %  |  9%  |  7%  |  8%   \n**_Anti-Corruption Status_ ** |  |  |  |   \nConfirmed incidents of corruption  |  Total Number  |  0  |  1  |  0   \nIncidents in which employees were dismissed or disciplined for corruption  2  |  Total Number  |  0  |  1  |  0   \nIncidents when contracts with business partners were terminated/not renewed due to violations related to corruption  |  Total Number  |  0  |  0  |  0   \n  \n####  Serving  Our Customers\n\n_Data_ |  Units  |  2023  |  2022  |  2021   \n---|---|---|---|---  \n**Customer Privacy and Losses of Customer Data** |  |  |  |   \nComplaints received from outside parties and substantiated by the organization  |  Number  |  0  |  0  |  0   \nComplaints from regulatory bodies  |  Number  |  0  |  0  |  0   \nTotal number of identified leaks, thefts, or losses of customer data  |  Number  |  0  |  0  |  0   \n  \n####  Supporting Our Employees\n\nData  |  Units  |  2023  |  2022  |  2021   \n---|---|---|---|---  \n**_Occupational Health & Safety _ ** |  |  |  |   \nNumber of road collisions and incidents  |  Number  |  1,106  |  1,251  |  1,167   \nTotal recordable incident rate (TRIR)  |  Incident rate  |  1.83  |  1.96  |  1.92   \nLost time incident rate (LTIR)  2  |  Incident rate  |  1.46  |  1.53  |  1.28   \nHigh-consequence injuries (excluding fatalities)  2  |  Number  |  85  |  75  |  104   \nHigh-consequence injury (excluding fatalities) frequency rate  |  per 200,000 work hours  |  0.210  |  0.170  |  0.293   \nTotal number of fatalities  |  Number  |  1  |  1  |  1   \nFatality frequency rate for direct employees  |  per 200,000 work hours  |  0.002  |  0.002  |  0.002   \nFatality frequency rate for contract employees  |  per 200,000 work hours  |  0.000  |  0.000  |  0.000   \n**Safety Measurement System BASIC percentiles** |  |  |  |   \nUnsafe Driving  |  %  |  49%  |  63%  |  55%   \nHours-of-service compliance  |  %  |  63%  |  58%  |  45%   \nDriver fitness  |  %  |  52%  |  42%  |  33%   \nControlled substances/alcohol  |  %  |  1%  |  1%  |  0%   \nVehicle maintenance  |  %  |  73%  |  74%  |  73%   \nHazardous Materials Compliance  |  %  |  45%  |  51%  |  53%   \n  \nData  |  New Units  |  2023  |  2022  |  Old Units  |  2023  |  2022  |  2021   \n---|---|---|---|---|---|---|---  \n**_Total Employees_ ** |  **_Total Number_ ** |  **_34,706_ ** |  **_37,154_ ** |  **_Total Number_ ** |  **_34,706_ ** |  **_37,154_ ** |  **_33,045_ **  \nFull-Time Total Number  |  Total Number  |  34,435  |  36,813  |  Total Number  |  34,435  |  36,813  |  32,826   \n**_Overall Demographics_ ** |  |  |  |  |  |  |   \n_Total Population_ |  |  |  |  |  |  |   \nTotal Males  |  Total Number  |  29,413  |  31,391  |  % of Total Employees  |  84.7%  |  84.5%  |  85.1%   \nTotal Females  |  Total Number  |  5,289  |  5,760  |  % of Total Employees  |  15.2%  |  15.5%  |  14.9%   \nDoes not identify  3  |  Total Number  |  4  |  3  |  % of Total Employees  |  0.0%  |  0.0%  |  0.0%   \n_Drivers_ |  |  |  |  |  |  |   \nTotal Males  |  Total Number  |  21,051  |  22,613  |  % of Total Drivers  |  92.5%  |  92.6%  |  93.5%   \nTotal Females  |  Total Number  |  1,703  |  1,801  |  % of Total Drivers  |  7.5%  |  7.4%  |  6.5%   \nDoes not identify  3  |  Total Number  |  1  |  |  % of Total Drivers  |  0.0%  |  0.0%  |  0.0%   \nTotal People of Color  |  Total Number  |  15,046  |  15,715  |  % of Total Drivers  |  66.1%  |  64.4%  |  61.0%   \n_Non-Drivers_ |  |  |  |  |  |  |   \nTotal Males  |  Total Number  |  8,362  |  8,778  |  % of Total Non-Drivers  |  70%  |  68.9%  |  68.5%   \nTotal Females  |  Total Number  |  3,586  |  3,959  |  % of Total Non-Drivers  |  30%  |  31.1%  |  31.5%   \nDoes not identify  3  |  Total Number  |  3  |  |  |  0.0%  |  0.0%  |  0.0%   \nTotal People of Color  |  Total Number  |  4,257  |  4,532  |  % of Total Non-Drivers  |  35.6%  |  35.6%  |  32.8%   \n**Management** |  |  |  |  |  |  |   \nMale  |  Total Number  |  3,035  |  3,100  |  % of Total Management  |  75.8%  |  75.4%  |  76.7%   \nFemale  |  Total Number  |  2,615  |  1,010  |  % of Total Management  |  24.2%  |  24.6%  |  23.3%   \nDoes not identify  3  |  Total Number  |  1  |  |  % of Total Management  |  0.0%  |  0.0%  |  0.0%   \nTotal People of Color  |  Total Number  |  1,221  |  1,234  |  % of Total Management  |  30.5%  |  30.0%  |  27.7%   \n**Non-Management** |  |  |  |  |  |  |   \nMale  |  Total Number  |  5,327  |  5,678  |  % of Total Individual Contributor  |  67.1%  |  65.8%  |  64.3%   \nFemale  |  Total Number  |  2,615  |  2,949  |  % of Total Individual Contributor  |  32.9%  |  34.2%  |  35.7%   \nDoes not identify  3  |  Total Number  |  2  |  |  % of Total Individual Contributor  |  0.0%  |  0.0%  |  0.0%   \nTotal People of Color  |  Total Number  |  3,036  |  3,298  |  % of Total Individual Contributor  |  38.2%  |  38.2%  |  34.7%   \n**_Age Demographics_ ** |  |  |  |  |  |  |   \nUnder Age 30  |  Total Number  |  6,378  |  7,715  |  % of Total Employees  |  18.4%  |  20.8%  |  19.9%   \nAge 30-50  |  Total Number  |  17,378  |  18,200  |  % of Total Employees  |  50.1%  |  49.0%  |  48.3%   \nOver age 50  |  Total Number  |  10,950  |  11,239  |  % of Total Employees  |  31.6%  |  30.2%  |  31.8%   \n**_Race Demographics_ ** |  |  |  |  |  |  |   \nWhite  |  Total Number  |  15,399  |  16,904  |  % of Total Employees  |  44.4%  |  45.5%  |  48.5%   \nBlack or African-American  |  Total Number  |  10,433  |  11,077  |  % of Total Employees  |  30.1%  |  29.8%  |  28.5%   \nHispanic or Lantinx  |  Total Number  |  6,360  |  6,653  |  % of Total Employees  |  18.3%  |  17.9%  |  16.8%   \nAsian or Asian-American  |  Total Number  |  1,431  |  1,473  |  % of Total Employees  |  4.1%  |  4.0%  |  3.5%   \nTwo or More Races  |  Total Number  |  624  |  630  |  % of Total Employees  |  1.8%  |  1.7%  |  1.6%   \nAmerican Indian or Alaskan Native  |  Total Number  |  320  |  282  |  % of Total Employees  |  0.9%  |  0.8%  |  0.7%   \nNative Hawaiian or Other Pacific Islander  |  Total Number  |  127  |  124  |  % of Total Employees  |  0.4%  |  0.3%  |  0.3%   \nOther  4  |  Total Number  |  12  |  11  |  % of Total Employees  |  0.0%  |  0.0%  |  0.1%   \n**_Other Demographics_ ** |  |  |  |  |  |  |   \nTotal number of veterans employed  |  Total Number  |  4,005  |  4,458  |  % of Total Employees  |  11.5%  |  12.0%  |  12.8%   \n**_Tenure and Attrition_ ** |  |  |  |  |  |  |   \nAverage Employee Tenure  |  Years  |  4.7  |  4.1  |  Years  |  4.7  |  4.1  |  4.3   \n**_New Hires_ ** |  |  |  |  |  |  |   \nTotal New Hires  |  Total Number  |  11,444  |  21,980  |  % of Total Employees  |  33.0%  |  59.2%  |  55.6%   \n**_Employee Turnover_ ** |  |  |  |  |  |  |   \nVoluntary Turnover  |  Total Number  |  8,906  |  12,825  |  % of Total Workforce  |  25.7%  |  34.5%  |  38.2%   \nInvoluntary Turnover  |  Total Number  |  4,847  |  4,920  |  % of Total Workforce  |  14.0%  |  13.2%  |  11.4%   \n**_Training Efforts_ ** |  |  |  |  |  |  |   \nHours of training completed by employees  |  Total Number  |  740,579  |  654,862  |  |  740,579  |  654,862  |  397,344   \n  \n####  Protecting Our Environment\n\nData  |  Units  |  2023  |  2022  |  2021   \n---|---|---|---|---  \n**_Greenhouse Gas Emissions_ ** |  |  |  |   \nDirect (Scope 1)  5  |  metric tons CO  2  e  |  1,739,774  |  1,941,821  |  1,711,146  6   \nEnergy indirect (Scope 2)  |  metric tons CO  2  e  |  23,095  |  25,800  |  20,655   \nOther indirect (Scope 3)  7  |  metric tons CO  2  e  |  2,406,687  |  1,482,873  |  1,376,015   \nJ.B. Hunt-specific metric used to calculate emissions intensity (EI) ratio  |  million company operated ton-miles (Mt.m)  |  18,566  |  18,514  |  16,449   \nGHG emissions intensity ratio (Scope 1&2)  7  |  million metric tons CO  2  e / Mt.m  |  95  |  106  |  118   \nNOx  |  metric tons  |  1,260  |  1,331  |  1,134   \nSOx  |  metric tons  |  16  |  18  |  16.5   \nParticulate matter (PM10)  |  metric tons  |  58  |  61  |  53   \n**_Intermodal Emissions Savings Highlight_ ** |  |  |  |   \n_J.B. Hunt Intermodal (JBI)_ |  |  |  |   \nIntermodal Revenue Ton Miles  |  million revenue ton-miles (Mt.m)  |  40,755  |  40,751  |  39,858   \nTotal diesel used  |  million gallons (net)  |  188.7  |  188.2  |  177.6   \n\\- Percentage renewable gallons used  |  % fuel  |  8.95%  |  6.66%  |  5.82%   \nIntermodal revenue ton miles per gallon  |  RTM/Gallon  |  216  |  217  |  224   \nGHG Emissions  |  million metric tons CO  2  e  |  1.93  |  1.93  |  1.79   \n_Avoided GHG Emissions by Intermodal Use_ |  |  |  |   \nAvoided fuel use  |  million gallons  |  398  |  363  |  355   \nAvoided metric tons CO  2  e  |  metric tons CO  2  e  |  4,096,147  |  3,687,116  |  3,607,363   \n_Emissions Intensity Comparison_ |  |  |  |   \nIntermodal GHG Emissions Intensity Ratio  8  |  metric tons CO  2  e / Intermodal Mt.m  |  38.83  |  42.75  |  45   \nCompany Operated GHG Emissions Intensity Ratio  8  |  metric tons CO  2  e / company operated Mt.m  |  95.11  |  98.53  |  104.59   \n**_Energy Efficiency Intiatives_ ** |  |  |  |   \nFuel reduction (avoided fuel use)  |  million gallons (Mgal) Diesel  |  401  |  365  |  358   \n|  million megajoules  |  57,677  |  53,363  |  51,860   \nConversion to AMTs  |  % of fleet  |  100%  |  100%  |  95%   \n|  Avoided Fuel Use (Mgal diesel)  |  2.94  |  3.01  |  2.59   \n|  Avoided Emissions (metric tons)  |  30,280  |  30,588  |  26,299   \nConversion to Intermodal  |  Avoided Fuel Use (Mgal diesel)  |  398  |  363  |  355   \n|  Avoided Emissions  9  (million metric tons)  |  4.10  |  3.69  |  3.61   \nElimination of Empty Miles (Carrier 360)  |  Avoided Empty Miles (million out-of-route/empty miles)  |  4.0  |  3.5  |  1.6   \n|  Avoided Fuel Use (Mgal diesel)  |  0.47  |  0.43  |  0.20   \n|  Avoided Emissions (metric tons)  |  4,863  |  4,419  |  2,024   \n**_Energy Consumption_ ** |  |  |  |   \nDiesel (ULSD)  |  Million Gallons  |  167.0  |  186.4  |  164.8  9   \n|  Million megajoules  |  24,016  |  27,229  |  23,882  9   \nRenewable Diesel  |  Million gallons  |  24.0  |  15.3  |  7.9  9   \n|  Million megajoules  |  3,518  |  2,237  |  1,145  9   \nBiodiesel  |  Million gallons  |  17.0  |  12.8  |  12.8  9   \n|  Million Megajoules  |  2,256  |  1,733  |  1,577  9   \nGasoline  |  Million gallons  |  0.12  |  0.14  |  0.16   \n|  Million Megajoules  |  16.0  |  17.6  |  20.1   \nNatural Gas  |  Million Cubic feet  |  163  |  161  |  142   \n|  Million Megajoules  |  177  |  176  |  151   \n|  % of total energy  |  0.5%  |  0.6%  |  0.5%   \nPropane  |  Million gal  |  0.09  |  .08  |  0.06   \n|  Million Megajoules  |  8.0  |  7.6  |  5.7   \nElectricity  |  Million KWH  |  57.6  |  56.2  |  52.6   \n|  Million Megajoules  |  206.0  |  202.4  |  189.3   \nRenewable Energy  |  % of total energy  |  19%  |  13%  |  10%   \n|  Million Megajoules  |  5,774  |  3,970  |  2,798   \nTotal Direct Consumption  |  Million Megajoules  |  30,197  |  31,603  |  27,946   \nEnergy Intensity Ratio  |  Megajoules/Mt.m  |  580,196  |  610,509  |  539,583   \n**_Waste_ ** |  |  |  |   \nTotal Waste Generated  10  |  Metric tonnes  |  44,647  |  35,377  |  29,603   \nTotal Waste Recycled/Reused/Sold  10  |  Metric tonnes  |  21,176  |  21,022  |  16,732   \nTotal Waste Disposed (landfill)  10  |  Metric tonnes  |  23,471  |  14,355  9  |  12,871   \nIncinerated with energy recovery  |  Metric tonnes  |  0  |  0  |  0   \nIncinderated without energy recovery  |  Metric tonnes  |  0  |  0  |  0   \nWaste otherwise disposed  |  Metric tonnes  |  0  |  0  |  0   \nData coverage (as % of denominator)  |  % of  |  100%  |  100%  |  100%   \n**_Water_ ** |  |  |  |   \nWater consumption  11  |  Million gallons  |  232  |  233  |  186   \n_**Road Fleet by Fuel Type 12  ** _ |  |  |  |   \nDiesel  13  |  Total Number  |  20,085  |  |   \n|  % of Total Fleet  |  99.9%  |  |   \nCompressed Natural Gas  13  |  Total Number  |  3  |  |   \n|  % of Total Fleet  |  0.1%  |  |   \nElectricity  13  |  Total Number  |  8  |  |   \n|  % of Total Fleet  |  0.0%  |  |   \nHydrogen/Electric  13  |  Total Number  |  0  |  |   \n|  % of Total Fleet  |  0.0%  |  |   \n**_Number of Environmental Violations and Fines_ ** |  |  |  |   \nNumber of significant environmental violations of legal obligations/ regulations  14  |  Total Number  |  0  |  0  |  0   \nAmount of fines/penalties related to significant environmental violations  |  $  |  $0  |  $0  |  $0   \n  \n####  Hazardous Materials Transport\n\nData  |  Units  |  2023  |  2022  |  2021   \n---|---|---|---|---  \nNumber of spills and releases to the environment  |  Number  |  4  |  5  |  7   \nAggregate volume of spills and releases to the environment  |  Cubic meters (m  3  )  |  0.5  |  0.5  |  0.8   \n  \n####  Charitable Contributions and Spend\n\nData  |  Units  |  2023  |  2022  |  2021   \n---|---|---|---|---  \nCash Contributions  |  $  |  $2,716,871  |  $5,210,691  |  $6,137,143   \nTime: Employee Volunteer Hours  |  $  |  $21,912  |  $476,476  |  $88,691   \nIn-Kind Giving  |  $  |  $716,955  |  $790,870  |  $875,670   \nManagement Overhead  |  $  |  $158,517  |  $141,838  |  $175,852   \nTotal Chartiable Contributions  |  $  |  $3,614,255  |  $6,619,875  |  $7,277,356   \n  \n####  \"Statement of Use\"\n\nJ.B. Hunt has reported the information cited in this GRI content index for the\nperiod of January 01, 2023 to December 31, 2023 with references to GRI 1\nStandards.\n\n#####  GRI 1 used\n\nGRI 1: Foundation 2021\n\nIndex Reference  |  Disclosure Description  |  Location (pg. number) or Reference   \n---|---|---  \n**_GRI 2: General Disclosures 2021_ ** |  |   \n2-1  |  Organizational Details  |  2023 Annual Report | Item 1. Business , pg. 101   \n2-2  |  Entities included in the organization's sustainability reporting  |  Appendix | About this Report   \n2-3  |  Reporting period, frequency and contact point  |  Appendix   \n2-4  |  Restatements of information  |  Appendix Sustainability Performance Data Tables   \n2-5  |  External assurance  |  Appendix | Assurance   \n2-6  |  Activities, value chain and other business relationships  |  2023 Annual Report | Item 1. Business , pgs. 101-105   \n2-7  |  Employees  |  Sustainability Performance Data Tables | Supporting our Employees   \n2-8  |  Workers who are not employees  |  Sustainability Performance Data Tables | Supporting our Employees   \n2-9  |  Governance structure and composition  |  2023 Annual Report | Governance Highlights, pgs. 24-25 2023   \nAnnual Report | Corporate Governance, pgs. 37-50   \n2-10  |  Nomination and selection of the highest governance body  |  2023 Annual Report | Corporate Governance, pgs. 37-50   \n2-11  |  Chair of the highest governance body  |  2023 Annual Report | Chairman of the Board, pg. 34   \n2-12  |  Role of the highest governance body in overseeing the management of impacts  |  2023 Annual Report | Corporate Governance, pgs. 37-44   \n2-13  |  Delegation of responsibility for managing impacts  |  2023 Annual Report | Executive Officers of The Company, pg. 35   \n2023 Annual Report | Corporate Governance, pgs. 37-44   \n2-14  |  Role of the highest governance body in sustainability reporting  |  2023 Annual Report | Corporate Governance, pgs. 48-50   \n2-15  |  Conflicts of interest  |  2023 Annual Report | Corporate Governance, pgs. 37 and 40-41   \nCode of Ethical and Professional Standards, pgs. 6-7  \n2-16  |  Communication of critical concerns  |  2023 Annual Report | Communications With the Board, pg. 43   \n2-17  |  Collective knowledge of the highest governance body  |  2023 Annual Report | Corporate Governance, pgs. 40-41   \nSustainability Performance Data Tables | Governance and Economic   \n2-18  |  Evaluation of the performance of the highest governance body  |  2023 Annual Report | Corporate Governance, pg. 48   \nCorporate Governance Guidelines | Leadership Evaluation, pg. 5   \n2-19  |  Remuneration policies  |  2023 Annual Report | Director Compensation, pgs. 33-34   \n2023 Annual Report | Executive Compensation, pgs. 52-59   \n2-20  |  Process to determine remuneration  |  2023 Annual Report | Executive Compensation Committee, pg. 47   \n2-21  |  Annual total compensation ration  |  2023 Annual Report | CEO Pay Ratio, pg. 78   \n  \n2-22  |  Statement on sustainable development strategy  |  Message from our CEO and President   \n  \n2-23  |  Policy commitments  |  Code of Ethical and Professional Standards, pg. 12   \n  \n2-24  |  Emedding policy commitments  |  Code of Ethical and Professional Standards, pg. 3   \n  \n2-26  |  Mechanisms for seeking advice and raising concerns  |  Code of Ethical and Professional Standards, pg. 14   \n  \n2-27  |  Compliance with laws and regulations  |  Sustainability Performance Data Tables | Number of Environmental Violations and Fines   \n2-28  |  Membership associations  |  Political & Lobbying Expenditures 2023 J.B. Hunt Corporate Social Matters Summary   \n2-29  |  Approach to stakeholder engagment  |  Materiality Assessment and Stakeholder Engagement, pg. 6   \n2-30  |  Collective bargaining agreements  |  2023 Annual Report | Human Capital Resources, pg. 104   \n**_GRI 3: Material Topics 2021_ ** |  |   \n3-1  |  Process to determine material topics  |  Materiality Assessment and Stakeholder Engagement; 2022 Sustainability Report | Stakeholder Engagement, pg. 7   \n3-2  |  List of material topics  |  Materiality Assessment and Stakeholder Engagement; 2022 Sustainability Report | Stakeholder Engagement, pg. 7   \n3-3  |  Management of material topics  |  Materiality Assessment and Stakeholder Engagement, pg. 6   \n**_GRI 201: Economic Performance 2016_ ** |  |   \n201-1  |  Direct economic value generated and distributed  |  Sustainability Performance Data Tables | Business Units and Revenues, pg. 9   \n201-2  |  Financial Implications and other risks and opportunities due to climate change  |  2023 CDP Climate Change Response: C2. Risks and opportunities   \n201-3  |  Defined benefit plan obligations and other retirement plans  |  2023 Annual Report | Employee Benefit Plans, pg. 149   \n**_GRI 205: Anti-corruption 2016_ ** |  |   \n205-3  |  Confirmed incidents of corruption and actions taken  |  Sustainability Performance Data Tables | Anti-Corruption Status, pg. 10   \n**_GRI 302: Energy 2016_ ** |  |   \n302-1  |  Energy consumption within the organization  |  Sustainability Performance Data Tables | Protecting Our Environment, pgs. 14-16   \n302-3  |  Energy intensity  |  Sustainability Performance Data Tables | Protecting Our Environment, pgs. 14-15   \n302-4  |  Reduction of energy consumption  |  Sustainability Performance Data Tables | Protecting Our Environment, pgs. 14-16   \n**_GRI 305: Emissions 2016_ ** |  |   \n305-1  |  Direct (Scope 1) GHG emissions  |  Sustainability Performance Data Tables | Protecting Our Environment, pg. 14   \n305-2  |  Energy indirect (Scope 2) GHG emissions  |  Sustainability Performance Data Tables | Protecting Our Environment, pg. 14   \n305-4  |  GHG emissions intensity  |  Sustainability Performance Data Tables | Protecting Our Environment, pgs. 14-15   \n305-7  |  Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions  |  Sustainability Performance Data Tables | Protecting Our Environment, pg. 14   \n**_GRI 401: Employement 2016_ ** |  |   \n401-1  |  New employee hires and employee turnover  |  Sustainability Performance Data Tables   \n401-2  |  Benefits provided to full-time employees that are not provided to temporary or part-time employees  |  2022 Annual Report, pg. 20   \n**_GRI 403: Occupational Health and Safety 2018_ ** |  |   \n403-1  |  Occupational health and safety management system  |  J.B. Hunt Safety Summary   \n403-2  |  Hazard identification, risk assessment, and incident investigation  |  J.B. Hunt Safety Summary   \n403-3  |  Occupational health services  |  2022 Sustainability Report | Promoting a Culture of Safety, pg. 10   \n403-4  |  Worker participation, consultation, and communication on occupational health and safety  |  2022 Sustainability Report | Promoting a Culture of Safety, pg. 10   \n403-5  |  Worker training on occupational health and safety  |  2022 Sustainability Report | Promoting a Culture of Safety, pg. 10   \n403-6  |  Promotion of worker health  |  2022 Sustainability Report | Investing in Our People   \n403-7  |  Prevention and mitigation of occupational health and safety impacts directly linked by business relationships  |  J.B. Hunt Safety Summary   \nSupplier Code of Conduct  \n403-9  |  Work-related injuries  |  Sustainability Performance Data Tables | Supporting our Employees, pg. 11   \n**_GRI 404: Training and Education 2016_ ** |  |   \n404-1  |  Average hours of training per year per employee  |  Sustainability Performance Data Tables | Supporting our Employees   \n404-2  |  Programs for upgrading employee skills and transition assistance programs  |  2022 Sustainability Report | Developing Inclusion   \n**_GRI 405: Diversity and Equal Opportunity 2016_ ** |  |   \n405-1  |  Diversity of governance bodies and employees  |  Sustainability Performance Data Tables | Supporting our Employees   \n**_GRI 407: Freedom of Association and Collective Bargaining 2016_ ** |  |   \n407-1  |  Operations an suppliers in which the right to freedom of association and collective bargaining may be at risk.  |  J.B. Hunt conducted a human rights assessment which covers forced labor, human trafficking, child labor, freedom of association, right to collective bargaining, equal remuneration and discrimination for our own employees, the industry, and third party contracted labor. This risk assessment includes an evaluation of women, children, indigenous people, and local communities in which we operate identifying inherent and residual risks. The results of our assessment showed J.B. Hunt has not caused nor contributed to any human rights violations therefore no remediating actions have been taken. J.B. Hunt will conduct this assessment on a bi-annual basis.   \nJ.B. Hunt, Human Rights Statement  \n**_GRI 408: Child Labor 2016_ ** |  |   \n408-1  |  Operations and suppliers at significant risk for incidents of child labor  |  J.B. Hunt, Human Rights Statement   \nSupplier Code of Conduct  \n**_GRI 409: Forced or Compulsory Labor 2016_ ** |  |   \n409-1  |  Operations and suppliers at significant risk for incidents of forced or compulsory labor  |  J.B. Hunt, Human Rights Statement   \nSupplier Code of Conduct  \n**_GRI 410: Security Practices 2016_ ** |  |   \n410-1  |  Security personnel trained in human rights policies or procedures  |  J.B. Hunt, Human Rights Statement   \n**_GRI 418: Customer Privacy 2016_ ** |  |   \n418-1  |  Substantiated complaints concerning breaches of customer privacy and losses of customer data  |  Sustainability Performance Data Tables | Serving our Customers   \n  \n####  2022 Sustainability Disclosure Topics & Accounting Metrics\n\nTopic  |  SASB Code  |  Activity Metric  |  Category  |  Unit of Measure  |  Response/Comment   \n---|---|---|---|---|---  \nGreenhouse Gas Emissions  |  TR-RO-110a.1  |  Gross global Scope 1 emissions  |  Quantitative  |  Metric tons (t) CO  2  e  |  1,739,774 metric tons of CO2e   \n|  TR-RO-110a.2  |  Discussion of long-term and short-term strategy   \nor plan to manage Scope 1 emissions, emissions  \nreduction targets, and an analysis of performance  \nagainst those targets  |  Discussion and Analysis  |  n/a  |  See the Working Toward A Low   \nCarbon Future section of our  \n2022 Sustainability Report.  \n|  TR-RO-110a.3  |  (1) Total fuel consumed   \n(2) Percentage natural gas  \n(3) Percentage renewable  |  Quantitative  |  Gigajoules (GJ),   \nPercentage (%)  |  (1) 30,197,000 Gigajoules   \n(2) 0.5% natural gas  \n(3) 19% renewable  \nAir Quality  |  TR-RA-120a.1  |  Air emissions of the following pollutants:   \n(1) NO  x  (excluding N  2  O)  \n(2) SO  X  \n(3) Particulate matter (PM  10  )  |  Quantitative  |  Metric tons (t)  |  (1) NOx (excluding N2O) = 1,260   \n(2) SOX = 16.0 metric tons  \n(3) PM10 = 58 metric tons  \nDriver Working Conditions  |  TR-RO-320a.1  |  (1) Total recordable incident rate   \n(TRIR)2 and  \n(2) Fatality rate for:  \n(a) direct employees  \n(b) contract employees  |  Quantitative  |  Rate  |  (1) 1.86 per 200,000 work hours   \n(2a) 0.002 per 200,000 work hours  \n(2b) 0 per 200,000 work hours  \n|  TR-RO-320a.2  |  (1) Voluntary and   \n(2) Involuntary turnover rate for all employees  |  Quantitative  |  Rate  |  (1) Voluntary turnover rate  15  = 25.7%   \n(2) Involuntary turnover rate  15  = 14.0%  \n|  TR-RO-320a.3  |  Description of approach to managing   \nshort-term and long-term driver health risks  |  Discussion and Analysis  |  Description  |  See Strengthening a Culture of Safety and Investing in Our People section of this 2022 Sustainability Report.   \nAccident & Safety Management  |  TR-RO-540a.1  |  Number of road accidents and incidents  |  Quantitative  |  Number  |  The number of road accidents and incidents: 1,106   \n0.713 DOT accidents per million miles  \n0.212 DOT preventable accidents per million miles  \n|  TR-RO-540a.2  |  Safety Measurement System BASIC percentiles for:   \n(1) Unsafe Driving,  \n(2) Hours-of-Service Compliance,  \n(3) Driver Fitness,  \n(4) Controlled Substances/ Alcohol,  \n(5) Vehicle Maintenance, and  \n(6) Hazardous Materials Compliance  |  Quantitative  |  Percentile  |  (1) Unsafe Driving = 49%   \n(2) Hours-of-Service Compliance = 63%  \n(3) Driver Fitness = 52%  \n(4) Controlled Substances/Alcohol = 1%  \n(5) Vehicle Maintenance = 73%  \n(6) Hazardous Materials Compliance = 45%  \n|  TR-RO-540a.3  |  (1) Number   \n(2) Aggregate volume of spills  \nand releases to the environment  |  Quantitative  |  Number, Cubic   \nMeters (m\u00b3)  |  (1) Number of spills = 4   \n(2) Aggregate volume of spills = 0.5 cubic meter  \n  \n####  Activity Metrics\n\nSASB Code  |  Activity Monitor  |  Category  |  Unit of Measure  |  Response/Comment   \n---|---|---|---|---  \nTR-RO-000.A  |  Revenue ton miles (RTM)  |  Quantitative  |  Million Revenue Ton-Mi  |  52,046   \nTR-RO-000.B  |  Load factor  |  Quantitative  |  Number  |  Load factor = 86.07%   \nTR-RO-000.C  |  (1) Number of employees   \n(2) Number of truck drivers  |  Quantitative  |  Number  |  (1) Total employees = 34,706   \n(2) Truck drivers = 22,755  \n  \n####  TCFD Index\n\nDescriptor  |  Index Reference   \n---|---  \n**1\\. Governance** |   \nA. Describe the board\u2019s oversight of climate-related risks and opportunities.  |  See the 2023 CDP Climate Change Response: C1.1b   \nB. Describe management\u2019s role in assessing and managing climate-related risks and opportunities.  |  See the 2023 CDP Climate Change Response: C1.2 and J.B. Hunt Nominating and Corporate Governance Committee Charter   \n**2\\. Strategy** |   \nA. Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term.  |  See our 2023 CDP Climate Change Response: C2.1a, C2.3, C2.3a, C2.4a   \nB. Describe the impact of climate-related risks and opportunities on the organization\u2019s businesses, strategy and financial planning.  |  See our 2023 CDP Climate Change Response: C2.3a, C2.4a, C3.1, C3.2b, C3.3, C3.4   \nC. Describe the resilience of the organization\u2019s strategy, taking into consideration different climate-related scenarios, including a 2C or lower scenario.  |  See our 2023 CDP Climate Change Response: C3.2, C3.2a, C3.2b   \n**3\\. Risk Management** |   \nA. Describe the organization\u2019s processes for identifying and assessing climate-related risks.  |  See our 2023 CDP Climate Change Response: C2.1b, C2.2, C2.2a   \nB. Describe the organization\u2019s processes for managing climate-related risks.  |  See our 2023 CDP Climate Change Response: C2.2   \nC. Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization\u2019s overall risk management.  |  See our 2023 CDP Climate Change Response: C2.1, C2.2   \n**4\\. Metrics and Targets** |   \nA. Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process.  |  See our 2023 CDP Climate Change Response: C4.2, C4.2b and the Working Towards a Low-Carbon Future section of the 2022 Sustainability Report.   \nB. Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks.  |  See the Sustainability Data Tables in this report and our CDP Response: C6.1, C6.3, and C6.5   \nC. Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets.  |  See the Working Towards a Low-Carbon Future section of the 2022 Sustainability Report and our 2023 CDP Climate Change Response: C4.1, C4.1b, C4.2, C4.2b   \n  \n1  Includes information provided for \u201cIndependent\u201d Directors only.  \n2  Fluctuations occur due to the timing of notation. Events will populate, or\nbe removed throughout the year.  \n3  2023 is the first year of reporting this metric.  \n4  Includes Aboriginal Peoples - Canada, Canadian Visible Minority, and those\nwho do not identify. Zero percent represents any value less than 0.1%.  \n5  Omits emissions from biogenic sources.  \n6  Emissions and emissions intensity values have been updated following an\nupdate to the calculation methodology to ensure consistency across different\nyears. These emissions exclude biogenic emissions.  \n7  49% of Scope 3 emissions are from railroad emissions. In 2023 we are\nupdating our scope 3 reporting here to include all scope 3 sources. Previous\nversions only provided scope 3 emissions from railroads and other downstream\ntransportation sources.  \n8  Emissions intensity values have been updated following an update to the\ncalculation methodology to ensure consistency across different years. This\nincludes using total metric ton-miles and emissions excluding biogenic\nemissions.  \n9  Incorrect values for diesel, renewable diesel and biodiesel were reported\nfor 2021. Incorrect total waste disposed to landfill was reported for 2022.\nThese figures have been corrected in this report.  \n10  J.B. Hunt updated its waste calculation methodology and has restated our\n2021 figures to align with this new method. Total waste increased due to\nimproved data collection at our facilities and sites.  \n11  The increase in water use in 2022 was due to our employee base returning\nto the office.  \n12  Includes assets that J.B. Hunt owns and operates. There are 182 additional\nnatural gas trucks that J.B. Hunt operates and 12 electric trucks.  \n13  2023 is the first year of reporting this metric.  \n14  Significant environmental violation is defined as a violation accompanied\nby a fine/penalty individually costing more than $10,000 USD. Amounts equal to\nor less than $10,000 USD are not considered significant.  \n15  Voluntary and involuntary turnover rate provided is for all J.B. Hunt\nemployees and not just driver employees.\n\n  * [ Shippers ](/shippers)\n  * [ Instant Quote ](/shippers/instant-quote)\n  * [ Dedicated Contract Services ](/shippers/dedicated-contract-services)\n  * [ Final Mile Services ](/shippers/final-mile-services)\n  * [ Highway Services ](/shippers/highway-services)\n  * [ Intermodal ](/shippers/intermodal)\n  * [ International ](/shippers/international)\n  * [ Managed Logistics ](/shippers/managed-logistics)\n  * [ Shipper 360 ](/technology/shipper-360)\n\n  * [ Carriers ](/carriers)\n  * [ Load Board ](/loadboard/load-board/map)\n  * [ Truckload Carriers ](/carriers)\n  * [ Power Only Carriers ](/carriers/power-only)\n  * [ Home Delivery Carriers ](/carriers/home-delivery-carrier)\n  * [ Carrier 360 ](/technology/carrier-360)\n\n  * [ Company ](/our-company/)\n  * [ Our Foundations ](/our-company/our-foundations)\n  * [ Why J.B. 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                    "source": "https://investor.bankofamerica.com/corporate-governance/management-team-and-directors?wcmmode=disabled"
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                "page_content": "Loading content\n\n#\n\n##  Executive Management Team\n\n[ Meet Our Team\n](https://newsroom.bankofamerica.com/content/newsroom/executive-bios.html)\n\n##  Board of Directors\n\nView Bio\n\n###  **Brian T. Moynihan**\n\nChair of the Board and  \nChief Executive Officer,  \nBank of America Corporation\n\n  \nView Bio\n\nSame page link Brian T. Moynihan Dialog\n\n##  Brian T. Moynihan\n\n**Chair of the Board and  \nChief Executive Officer,  \nBank of America Corporation **\n\nAge: 65  Director since: January 2010\n\nCommittee membership:  Attends meetings of all of the Board committees\n\nAs our Chief Executive Officer, Mr. Moynihan leads a team of more than 200,000\nemployees focused on driving Responsible Growth for our teammates, clients,\ncommunities, and shareholders.\n\nUnder his leadership, the company provides core financial services to three\nclient groups through our eight lines of business. This has delivered record\nearnings and significant capital return to shareholders. Mr. Moynihan has\ndemonstrated leadership qualities, management capability, knowledge of our\nbusiness and industry, and a long-term strategic perspective. In addition, he\nhas many years of international and domestic financial services experience,\nincluding wholesale and retail businesses.\n\n###  Professional highlights:\n\n  * Appointed Chair of the Board of Directors of Bank of America Corporation in October 2014 and President and Chief Executive Officer in January 2010. Prior to becoming Chief Executive Officer, Mr. Moynihan led each of the company\u2019s operating units \n  * Member (and prior Chair) of the Board of Directors of Bank Policy Institute (Chair of the Global Regulatory Policy Committee) \n  * Member (and prior Chair) of Financial Services Forum \u2022 Chair of the Supervisory Board of The Clearing House Association L.L.C. \n  * Member of Business Roundtable \n  * Member (and prior Chairman) of the World Economic Forum\u2019s International Business Council (Chair of Stakeholder Capitalism Metrics Initiative) \n  * Past Chair of the Board of The U.S. Council on Competitiveness \n  * Chair of the Sustainable Markets Initiative \n\n###  Other leadership experience and service:\n\n  * Chancellor (Chair) and current member of Board of Fellows of Brown University \n  * Member of Advisory Council of Smithsonian\u2019s National Museum of African American History and Culture \n  * Member of Charlotte Executive Leadership Council \n  * Chair of Massachusetts Competitive Partnership \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Lionel L. Nowell III**\n\nLead Independent Director,  \nBank of America Corporation  \n  \nFormer Senior Vice President and Treasurer, PepsiCo, Inc.\n\n  \nView Bio\n\nSame page link Lionel L. Nowell III Dialog\n\n##  Lionel L. Nowell III\n\n**Lead Independent Director,  \nBank of America Corporation  \n  \nFormer Senior Vice President and Treasurer, PepsiCo, Inc. (Pepsi) **\n\nAge: 70  Director since: January 2013\n\nCommittee membership:  Attends meetings of all of the Board committees\n\nMr. Nowell is an active board leader with a deep range of corporate audit,\nfinancial expertise, risk management, operational, and strategic planning\nexperience.\n\nDuring his more than 30-year career with multinational consumer products\nconglomerates, he oversaw the worldwide corporate treasury functions,\nincluding debt and investment activities, capital markets strategies, and\nforeign exchange as Senior Vice President and Treasurer of Pepsi, finance\nfunctions as Chief Financial Officer of Pepsi Bottling Group, and held\nresponsibilities for strategy and business development as a Senior Vice\nPresident at RJR Nabisco. Mr. Nowell brings a robust corporate governance and\nboard leadership perspective through his current and prior service on public\ncompany boards across varying industries and through his ongoing dialogue with\ninstitutional shareholders as our Board\u2019s Lead Independent Director. In 2022,\nMr. Nowell was named \u201cIndependent Director of the Year\u201d by Corporate Board\nMember\n\n###  Professional highlights:\n\n  * Served as Senior Vice President and Treasurer of Pepsi, a leading global food, snack, and beverage company, from 2001 to May 2009; and as Chief Financial Officer of The Pepsi Bottling Group and Controller of Pepsi \n  * Served as Senior Vice President, Strategy and Business Development at RJR Nabisco, Inc., from 1998 to 1999 \n  * Held various senior financial roles at the Pillsbury division of Diageo plc, including Chief Financial Officer of its Pillsbury North America, Pillsbury Foodservice, and H\u00e4agen-Dazs divisions; and also served as Controller and Vice President of Internal Audit of the Pillsbury Company \n  * As our Board\u2019s Lead Independent Director, Mr. Nowell has an extensive set of responsibilities that brings him into frequent communications with our primary regulators, institutional shareholders, other stakeholders, and our employees and customers. \n  * Member of the Board of Directors of Ecolab Inc., Chair of its Audit Committee and member of its Finance Committee \n  * Member of the Board of Directors of Textron Inc. and Chair of its Audit Committee \n  * Served as a member of the Board of Directors of American Electric Power Company, Inc., from July 2004 to April 2020; Chair of its Audit Committee and as a member of its Directors and Corporate Governance, Policy, Executive, and Finance Committees \n  * Served as Lead Director of the Board of Directors of Reynolds American, Inc., from January 2017 to July 2017; and as a Board member, from September 2007 to July 2017 \n\n###  Other leadership experience and service:\n\n  * Former member of the Dean\u2019s Advisory Council at The Ohio State University Max M. Fisher College of Business \n\n###  Other U.S.-listed company boards:\n\n  * Ecolab Inc. \n  * Textron Inc. \n  * American Electric Power Company, Inc. _(past five years)_\n\nView Bio\n\n###  **Sharon L. Allen**\n\nFormer Chairman,  \nDeloitte LLP\n\n  \nView Bio\n\nSame page link Sharon L. Allen Dialog\n\n##  Sharon L. Allen\n\n**Former Chairman,  \nDeloitte LLP (Deloitte) **\n\nAge: 73  Director since: August 2012\n\nCommittee membership:  Audit Committee (chair) / Corporate Governance\nCommittee\n\nMs. Allen is an experienced director who brings deep auditing and consulting\nservices, financial reporting, and corporate governance experience to our\nBoard.\n\nAs a corporate leader, Ms. Allen has broad experience leading and working with\nlarge, complex businesses and brings an international perspective on risk\nmanagement and strategic planning. During her nearly 40-year career with\nDeloitte, the largest professional services organization in the U.S. and\nmember firm of Deloitte Touche Tohmatsu Limited (DTTL), she became the first\nwoman elected to serve as Chairman of the Board and also served as a member of\nDTTL\u2019s Global Board of Directors, the chair of its Global Risk Committee, and\nthe U.S. representative of its Global Governance Committee. During her tenure\nat Deloitte, Ms. Allen oversaw relationships with major multinational\ncorporations and provided oversight and guidance to management.\n\n###  Professional highlights:\n\n  * Served as Chairman of Deloitte, a firm that provides audit, consulting, financial advisory, risk management, and tax services, as the U.S. member firm of DTTL, from 2003 to 2011 \n  * Employed at Deloitte for nearly 40 years in various leadership roles, including Partner and Regional Managing Partner; and responsible for audit and consulting services for a number of Fortune 500 and large private companies \n  * Former member of the Global Board of Directors, Chair of the Global Risk Committee, and U.S. Representative on the Global Governance Committee of DTTL, from 2003 to 2011 \n  * Member of the Board of Directors of Albertsons Companies, Inc. and its Audit & Risk Committee, and Chair of its Governance, Compliance and ESG Committee \n  * Former member of the Board of Directors of First Solar, Inc., Chair of its Audit Committee and a member of its Technology Committee \n\n###  Other leadership experience and service:\n\n  * Former Director and Chair of the National Board of Directors of the YMCA of the USA, a leading nonprofit organization for youth development, healthy living, and social responsibility \n  * Former Vice Chair of the Board of Trustees of the Autry National Center, the governing body of the Autry Museum of the American West \n  * Appointed by President George W. Bush to the President\u2019s Export Council, which advised the President on export enhancement \n\n###  Other U.S.-listed company boards:\n\n  * Albertsons Companies, Inc. \n  * First Solar, Inc. _(past five years)_\n\nView Bio\n\n###  **Jos\u00e9 (Joe) E. Almeida**\n\nFormer Chairman, President,  \nand Chief Executive Officer,  \nBaxter International Inc.\n\n  \nView Bio\n\nSame page link Jos\u00e9 (Joe) E. Almeida Dialog\n\n##  Jos\u00e9 (Joe) E. Almeida\n\n**Former Chairman, President,  \nand Chief Executive Officer,  \nBaxter International Inc. (Baxter) **\n\nAge: 62  Director since: September 2022\n\nCommittee membership:  Audit Committee / Compensation and Human Capital\nCommittee\n\nMr. Almeida is a former chief executive officer and public company director\nwith experience leading large, global companies subject to regulatory\noversight. His service as a board member for global companies in a variety of\nindustries also brings additional perspective to our Board.\n\nAs former Chairman, President, and Chief Executive Officer of Baxter, Mr.\nAlmeida led the company through a period of transformation driven by\ninnovation, operational excellence, and strategic execution. Prior to joining\nBaxter, Mr. Almeida served as Chairman, President and Chief Executive Officer\nand on the Board of Directors of Covidien and served in leadership roles at\nTyco Healthcare (Covidien\u2019s predecessor), Wilson Greatbatch Technologies Inc.,\nAmerican Home Products\u2019 Acufex Microsurgical division, and Johnson & Johnson\u2019s\nProfessional Products division. He began his career as a management consultant\nat Andersen Consulting (Accenture) and previously served on the Boards of\nDirectors of Walgreens Boots Alliance, Inc., Analog Devices, Inc., EMC\nCorporation, and State Street Corporation.\n\n###  Professional highlights:\n\n  * Former Chairman of the Board, President and CEO of Baxter, a global medtech leader, from 2016 to February 2025. Began serving as an executive officer of Baxter in October 2015 \n  * Served as Senior Advisor with The Carlyle Group, a multinational private equity, alternative asset management and financial services corporation, from May 2015 to October 2015 \n  * Served as Chairman, President and Chief Executive Officer and as President and Chief Executive Officer of Covidien, a global healthcare products company, from March 2012 through January 2015 and from July 2011 to March 2012, respectively, prior to the acquisition of Covidien by Medtronic plc \n  * Prior to becoming Covidien\u2019s President and Chief Executive officer, served in several leadership roles at Covidien, including President of its Worldwide Medical Devices business; also served as President of International and Vice President of Global Manufacturing for Covidien\u2019s predecessor, Tyco Healthcare \n  * Served on the Boards of Directors of: Baxter; Walgreens Boots Alliance, Inc., including on its Compensation Committee; State Street Corporation, including on its Executive Compensation Committee; Analog Devices, Inc.; and EMC Corporation \n  * Served on the Board of Trustees of Partners in Health \n\n###  Other leadership experience and service:\n\n  * Serves on the Board of Trustees of Northwestern University \n\n###  Other U.S.-listed company boards:\n\n  * Baxter _(past five years)_\n  * Walgreens Boots Alliance, Inc. _(past five years)_\n\nView Bio\n\n###  **Pierre J. P. de Weck**\n\nFormer Chairman and  \nGlobal Head of Private Wealth  \nManagement, Deutsche Bank AG\n\n  \nView Bio\n\nSame page link Pierre J. P. de Weck Dialog\n\n##  Pierre J. P. de Weck\n\n**Former Chairman and  \nGlobal Head of Private Wealth  \nManagement, Deutsche Bank AG **\n\nAge: 74  Director since: July 2013\n\nCommittee membership:  Compensation and Human Capital Committee / Enterprise\nRisk Committee\n\nMr. de Weck is a Swiss national based in Europe with deep knowledge of the\nglobal financial services industry.\n\nAs a senior executive with a tenure of more than three decades in global\nfinancial services, including as a member of the Group Executive Committee and\nGlobal Head of Private Wealth Management of Deutsche Bank AG in London, and as\nChief Executive Officer of North America, Chief Executive Officer of Europe,\nand a member of the Group Executive Board at UBS AG, and as Chief Executive\nOfficer of UBS Capital, Mr. de Weck has extensive experience in risk\nmanagement, including credit risk management. He brings valuable international\nperspective to our company\u2019s business activities, including to our European\nsubsidiaries through his service on the Boards of Directors of Merrill Lynch\nInternational (MLI), our U.K. broker-dealer subsidiary, and BofA Securities\nEurope S.A. (BofASE), our French broker-dealer subsidiary.\n\n###  Professional highlights:\n\n  * Served as the Chairman and Global Head of Private Wealth Management and as a member of the Group Executive Committee of Deutsche Bank AG, from 2002 to May 2012 \n  * Served on the Management Board of UBS, from 1994 to 2001; as Head of Institutional Banking, from 1994 to 1997; as Chief Credit Officer and Head of Private Equity, from 1998 to 1999; and as Head of Private Equity, from 2000 to 2001 \n  * Held various senior management positions at Union Bank of Switzerland, a predecessor firm of UBS, from 1985 to 1994 \n  * Chair of the Board of Directors of MLI (and previously chair of the MLI Board\u2019s Risk Committee); and Chair of the Board of Directors of BofASE \n  * Member of the Board of Directors of 360 ONE WAM Limited, a company listed on the National Stock Exchange of India and the BSE \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Arnold W. Donald**\n\nFormer President and  \nChief Executive Officer,  \nCarnival Corporation and  \nCarnival plc  \n  \nIncoming Lead  \nIndependent Director,  \nSalesforce, Inc.\n\n  \nView Bio\n\nSame page link Arnold W. Donald Dialog\n\n##  Arnold W. Donald\n\n**Former President and  \nChief Executive Officer,  \nCarnival Corporation and  \nCarnival plc (Carnival)  \n  \nIncoming Lead  \nIndependent Director,  \nSalesforce, Inc. (Salesforce) **\n\nAge: 70  Director since: January 2013\n\nCommittee membership:  Audit Committee / Compensation and Human Capital\nCommittee\n\nMr. Donald has more than three decades of strategic planning, global\noperations, and risk management experience in regulated, consumer, retail, and\ndistribution businesses.\n\nHe brings expertise in business transformation through his service as\nPresident and Chief Executive Officer of Carnival, one of the world\u2019s largest\nleisure travel companies with operations worldwide, his leadership roles with\nglobal responsibilities at Monsanto, and his experience as a public company\ndirector. Through his leadership of nonprofit organizations, including The\nExecutive Leadership Council and the Juvenile Diabetes Research Foundation\nInternational, Mr. Donald also brings focus and perspective on our work to\npromote talent, inclusion, and opportunity for our employees and the\ncommunities we serve.\n\n###  Professional highlights:\n\n  * Served as President, Chief Executive Officer, and Chief Climate Officer of Carnival, a cruise and vacation company, from July 2013 to November 2022; began serving on Carnival\u2019s Board of Directors in 2001 \n  * Served as President and Chief Executive Officer, from November 2010 to June 2012 of The Executive Leadership Council, a nonprofit organization providing a professional network and business forum to African-American executives at major U.S. companies \n  * Served as President and Chief Executive Officer of the Juvenile Diabetes Research Foundation International, from January 2006 to February 2008 \n  * Served as Chairman and Chief Executive Officer of Merisant, from 2000 to 2003, a privately held global manufacturer of tabletop sweeteners, and remained as Chairman until 2005 \n  * Joined Monsanto in 1977 and held several senior leadership positions with global responsibilities, including President of its Agricultural Group and President of its Nutrition and Consumer Sector, over a more than 20-year tenure \n  * Member of the Board of Directors of GE Vernova, Chair of its Compensation and Human Capital Committee and member of its Nominating and Governance Committee \n  * Member of the Board of Directors of MP Materials Corp. and its Compensation Committee \n  * Incoming Lead Independent Director of Salesforce, Inc., member of its Audit & Finance and Nominating & Corporate Governance Committees \n  * Served as a member of the Board of Directors of Carnival and its Executive Committee \n\n###  Other leadership experience and service:\n\n  * Appointed by President Clinton and re-appointed by President George W. Bush to the President\u2019s Export Council \n\n###  Other U.S.-listed company boards:\n\n  * GE Vernova \n  * MP Materials Corp. \n  * Salesforce, Inc. \n  * Carnival _(past five years)_\n\nView Bio\n\n###  **Linda P. Hudson**\n\nFormer President and  \nChief Executive Officer,  \nBAE Systems, Inc.\n\n  \nView Bio\n\nSame page link Linda P. Hudson Dialog\n\n##  Linda P. Hudson\n\n**Former President and  \nChief Executive Officer,  \nBAE Systems, Inc. (BAE) **\n\nAge: 74  Director since: August 2012\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nMs. Hudson has extensive executive leadership experience, with a focus on risk\nmanagement.\n\nShe brings international perspective, geopolitical insights, and broad\nknowledge in strategic planning, technology, global operations, and risk\nmanagement to our Board through a career in the defense, aerospace, and\nsecurity industries that spanned more than 40 years. As the former President\nand Chief Executive Officer of BAE and the first woman to lead a major\nnational security corporation, Ms. Hudson oversaw a global, highly regulated,\nand complex U.S.-based defense, aerospace, and security company, wholly owned\nby London-based BAE Systems plc (BAE Systems), where she also served as an\nexecutive director. Through her leadership positions, including with General\nDynamics Corporation and its Armament and Technical Products division, Ms.\nHudson also brings focus and perspective to the Board\u2019s oversight of\ntechnology and related risks, including cybersecurity risks.\n\n###  Professional highlights:\n\n  * Served as Chairman and Chief Executive Officer of The Cardea Group, LLC, a management consulting business, from May 2014 to January 2020 \n  * Served as CEO Emeritus of BAE, a U.S.-based subsidiary of BAE Systems, a global defense, aerospace, and security company headquartered in London, from February 2014 to May 2014, and as President and Chief Executive Officer of BAE, from October 2009 until January 2014 \n  * Served as President of BAE Systems\u2019 Land and Armaments operating group, the world\u2019s largest military vehicle and equipment business, from October 2006 to October 2009 \n  * Prior to joining BAE, served as Vice President of General Dynamics Corporation and President of its Armament and Technical Products division; held various positions in engineering, production operations, program management, and business development for defense and aerospace companies \n  * Served as a member of the Executive Committee and as an executive director of BAE Systems, from 2009 until January 2014; and as a member of the Board of Directors of BAE, from 2009 to April 2015 \n  * Member of the Board of Directors of Trane Technologies plc and its Human Resources and Compensation Committee and its Sustainability, Corporate Governance & Nominating Committee; and Chair of its Technology and Innovation Committee \n  * Served as a member of the Board of Directors of TPI Composites, Inc. and its Nominating and Corporate Governance Committee and Technology Committee \n\n###  Other leadership experience and service:\n\n  * Elected member to the National Academy of Engineering, one of the highest professional honors accorded an engineer \n  * Member of the Board of Directors of the University of Florida Foundation, Inc. and the advisory board of the University of Florida Engineering Leadership Institute \n  * Former member of the Charlotte Center Executive Board for the Wake Forest University School of Business \n  * Former member of the Board of Trustees of Discovery Place, a nonprofit education organization dedicated to inspiring exploration of the natural and social world \n  * Member of the Board of Directors of Shands Teaching Hospital and Clinics, Inc., the healthcare system affiliated with the University of Florida College of Medicine \n  * Member of the Board of Directors of University of Florida\u2019s Gator Boosters, Inc. \n\n###  Other U.S.-listed company boards:\n\n  * Trane Technologies plc (formerly Ingersoll-Rand plc) \n  * TPI Composites, Inc. _(past five years)_\n\nView Bio\n\n###  **Monica C. Lozano**\n\nFormer Chief Executive Officer,  \nCollege Futures Foundation  \n  \nFormer Chairman,  \nUS Hispanic Media Inc\n\n  \nView Bio\n\nSame page link Monica C. Lozano Dialog\n\n##  Monica C. Lozano\n\n**Former Chief Executive Officer,  \nCollege Futures Foundation  \n  \nFormer Chairman,  \nUS Hispanic Media Inc **\n\nAge: 68  Director since: April 2006\n\nCommittee membership:  Compensation and Human Capital Committee _(chair)_ /\nEnterprise Risk Committee\n\nMs. Lozano brings a broad range of leadership experience in the public and\nprivate sectors through her active participation in public service and her\nservice as chief executive officer and as a public company director. She also\nbrings a track record as a champion for talent, inclusion, and opportunity.\n\nAs Chief Executive Officer of College Futures Foundation, a charitable\nfoundation focused on increasing the rate of bachelor\u2019s degree completion\namong California student populations who are low-income and have had a\nhistorically low college success rate, she worked to increase the rate of\ncollege graduation and improve opportunity for low-income students and\nstudents of color in California. With 30 years at La Opini\u00f3n, the largest\nSpanish-language newspaper in the U.S., including as editor and publisher, as\nChairman and Chief Executive Officer of its parent company, ImpreMedia LLC,\nand as co-founder of the Aspen Institute Latinos and Society Program, Ms.\nLozano possesses deep insights into the issues that impact the Hispanic-Latino\ncommunity. As a director serving on the boards of large organizations with\ndiversified international operations, including Apple Inc. and Target\nCorporation, and previously The Walt Disney Company, Ms. Lozano has long-\nstanding experience overseeing matters ranging from corporate governance,\nhuman capital management, and executive compensation, to risk management and\nfinancial reporting. In addition, as a member of California\u2019s Task Force on\nJobs and Business Recovery, Ms. Lozano has valuable perspective on important\npublic policy, societal, and economic issues.\n\n###  Professional highlights:\n\n  * Served as Chief Executive Officer of College Futures Foundation, from December 2017 to July 2022 and a member of the Board of Directors, from December 2019 to July 2022 \n  * Served as Chair of the Board of Directors of U.S. Hispanic Media Inc., the parent company of ImpreMedia, a leading Hispanic news and information company, from June 2014 to January 2016 \n  * Served as Chairman of ImpreMedia, from July 2012 to January 2016; Chief Executive Officer, from May 2010 to May 2014; and Senior Vice President, from January 2004 to May 2010 \n  * Served as Publisher of La Opini\u00f3n, a subsidiary of ImpreMedia and the leading Spanish-language daily print and online newspaper in the U.S., from 2004 to May 2014; and Chief Executive Officer, from 2004 to July 2012 \n  * Strategic advisor to multiple media companies \n  * Member of the Board of Directors of Apple Inc. and its Audit and Finance Committee \n  * Member of the Board of Directors of Target and its Governance & Sustainability Committee, Chair of its Compensation & Human Capital Management Committee, and former Lead Independent Director \n\n###  Other leadership experience and service:\n\n  * Member of California\u2019s Task Force on Jobs and Business Recovery \n  * Served as a member of President Obama\u2019s Council on Jobs and Competitiveness, from 2011 to 2012; and served on President Obama\u2019s Economic Recovery Advisory Board, from 2009 to 2011 \n  * Served on COMEXUS, a binational commission dedicated to strengthening ties between the two countries through business, education, and cultural collaboration \n  * Member of the Board of Directors of the Weingart Foundation \n  * Served as the Chair of the Board of Regents of the University of California; as a member of the Board of Trustees of The Rockefeller Foundation; as a member of the Board of Trustees of the University of Southern California; and as a member of the State of California Commission on the 21st Century Economy \n\n###  Other U.S.-listed company boards:\n\n  * Apple Inc. \n  * Target Corporation \n\nView Bio\n\n###  **Maria N. Martinez**\n\nFormer Executive Vice President and  \nChief Operating Officer,  \nCisco Systems, Inc.\n\n  \nView Bio\n\nSame page link Maria N. Martinez Dialog\n\n##  Maria N. Martinez\n\n**Former Executive Vice President and  \nChief Operating Officer,  \nCisco Systems, Inc. **\n\nAge: 67  Director since: January 2025\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nMs. Martinez brings extensive technology, risk management, and strategic\nplanning experience for global businesses to our Board.\n\nMs. Martinez\u2019s experience at Cisco Systems, Salesforce, and Microsoft enables\nher to bring extensive technology knowledge to our Board. Her leadership roles\nprovide her with strategic planning, risk management, and executive leadership\nexperience. Her history of public company board experience gives her insight\ninto governance of large, complex, and regulated companies.\n\n###  Professional highlights:\n\n  * Served as Executive Vice President and Chief Operating Officer from 2021 to 2024, and as Executive Vice President and Chief Customer Experience Officer from 2018 until 2021 at Cisco Systems, Inc., a multinational digital communications technology company \n  * Served in a variety of senior executive roles at Salesforce, Inc. between 2010 and 2018, including: President, Global Customer Success and Latin America; President, Sales and Customer Success; Executive Vice President and Chief Growth Officer; and Executive Vice President, Customers for Life \n  * Managed the Global Services business for Microsoft Corporation, including professional services and customer support for all products during her tenure there from 2003 to 2007 \n  * Member of the Board of Directors of McKesson Corporation and its Compliance Committee and Chair of its Governance and Sustainability Committee \n  * Member of the Board of Directors of Tyson Foods, Inc. and its Governance and Nominating Committee and Strategy and Acquisitions Committee \n  * Served as a member of the Board of Directors of Cue Health Inc. and its Audit and Compensation Committees and Chair of its Nominating and Governance Committee \n\n###  Other leadership experience and service:\n\n  * Former member of the Board of Trustees of the Computer History Museum \n  * Former member of the Board of Trustees of Silicon Valley Education Foundation \n\n###  Other U.S.-listed company boards:\n\n  * McKesson Corporation \n  * Tyson Foods, Inc. \n  * Cue Health Inc. _(past five years)_\n\nView Bio\n\n###  **Denise L. Ramos**\n\nFormer Chief Executive Officer and President, ITT Inc.\n\n  \nView Bio\n\nSame page link Denise L. Ramos Dialog\n\n##  Denise L. Ramos\n\n**Former Chief Executive Officer and President, ITT Inc. (ITT)**\n\nAge: 68  Director since: July 2019\n\nCommittee membership:  Audit Committee / Compensation and Human Capital\nCommittee\n\nMs. Ramos is an experienced public company executive who brings global\nbusiness leadership, financial expertise, and strategic planning experience to\nour Board.\n\nMs. Ramos served as Chief Executive Officer of ITT, a diversified manufacturer\nof engineered components and customized technology solutions for the\ntransportation, industrial, and energy markets, focusing on innovation and\ntechnology. She was Chief Financial Officer at ITT, Furniture Brands\nInternational, and the U.S. KFC division of Yum! Brands, and served as the\ncorporate treasurer at Yum! Brands. Through her public company board service\non the Boards of Phillips 66 and RTX Corporation, Ms. Ramos brings board-level\ninsights into issues facing complex, regulated global public companies and\noversight experience in finance, audit, corporate governance, public policy,\nand sustainability.\n\n###  Professional highlights:\n\n  * Chief Executive Officer and President of ITT, a diversified manufacturer of critical components and customized technology solutions, from 2011 to 2019; and Senior Vice President and Chief Financial Officer of ITT, from 2007 to 2011 \n  * Served as Chief Financial Officer for Furniture Brands International, a former home furnishings company, from 2005 to 2007 \n  * Served in various roles at Yum! Brands Inc., an American fastfood company, from 2000 to 2005, including Chief Financial Officer of the U.S. Division of KFC Corporation and as Senior Vice President and Treasurer \n  * Began her career at Atlantic Richfield Company, where she spent more than 20 years in a number of finance positions \n  * Member of the Board of Directors of Phillips 66 and its Human Resources and Compensation Committee and Public Policy and Sustainability Committee \n  * Member of the Board of Directors of RTX Corporation and its Audit Committee and Governance and Public Policy Committee \n\n###  Other U.S.-listed company boards:\n\n  * Phillips 66 (through May 2025)  (1) \n  * RTX Corporation \n\n(1)  Ms. Ramos has announced her intent not to stand for reelection to the\nboard of Phillips 66 at its 2025 annual meeting of shareholders.\n\nView Bio\n\n###  **Clayton S. Rose**\n\nBaker Foundation Professor of Management Practice,  \nHarvard Business School\n\n  \nView Bio\n\nSame page link Clayton S. Rose Dialog\n\n##  Clayton S. Rose\n\n**Baker Foundation Professor of Management Practice,  \nHarvard Business School **\n\nAge: 66  Director since: October 2018\n\nCommittee membership:  Compensation and Human Capital Committee / Enterprise\nRisk Committee _(chair)_\n\nDr. Rose is an executive leader in academics and the private sector who brings\nrisk management experience, public policy and social thought leadership, broad\nglobal financial services industry knowledge, and strategic planning\nexperience to our Board.\n\nAs former President of Bowdoin College, Dr. Rose has a legacy of promoting\nintellectual engagement with a diverse set of ideas and issues; increasing\naccess and opportunity for students; enhancing programs for postgraduate\nsuccess; advancing inclusion; and addressing mental health challenges facing\nyouth. As a Harvard Business School faculty member, Dr. Rose has taught and\nwritten on issues of leadership, ethics, the financial crisis, and the role of\nbusiness in society. Dr. Rose spent the first 20 years of his career with\nJPMorgan Chase & Co. and its predecessor company, where he retired as Vice\nChairman after leading the global investment banking and equities businesses,\nas well as holding leadership roles in securities, derivatives, and corporate\nfinance in New York and London. Following retirement from JPMorgan Chase, Dr.\nRose received a master\u2019s degree and PhD with distinction in sociology from the\nUniversity of Pennsylvania. Dr. Rose also holds an MBA from the University of\nChicago. Dr. Rose has served on several financial institutions boards and\ncurrently serves as Chair of the Board of Trustees of the Howard Hughes\nMedical Institute, the U.S.\u2019s largest private supporter of academic biomedical\nresearch.\n\n###  Professional highlights:\n\n  * Baker Foundation Professor of Management Practice at Harvard usiness School \n  * Former President of Bowdoin College \u2022 Served as a professor at Harvard Business School prior to his appointment as President of Bowdoin College \n  * Served as Vice Chairman, headed two lines of business\u2013Global Investment Banking and Global Equities\u2013and was a member of JPMorgan Chase\u2019s senior management team during his approximately 20-year tenure at JPMorgan Chase \n  * Served as a member of the Boards of Directors of XL Group, plc, Federal Home Loan Mortgage Corporation (Freddie Mac), and Mercantile Bankshares Corp. \n\n###  Other leadership experience and service:\n\n  * Trustee and Chair of the Board of Trustees for Howard Hughes Medical Institute and formerly Chair of the Audit and Compensation Committee \n  * Member of the Board of Directors of Pew Charitable Trusts \n  * Served on the company\u2019s Board of Directors, from 2013 to 2015 \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Michael D. White**\n\nFormer Chairman, President  \nand Chief Executive Officer,  \nDIRECTV\n\n  \nView Bio\n\nSame page link Michael D. White Dialog\n\n##  Michael D. White\n\n**Former Chairman, President  \nand Chief Executive Officer,  \nDIRECTV **\n\nAge: 73  Director since: June 2016\n\nCommittee membership:  Audit Committee / Corporate Governance Committee\n_(chair)_\n\nMr. White is a seasoned executive and public company director with experience\nleading the global operations and strategic direction of complex and highly\nregulated multinational consumer retail and distribution businesses.\n\nHe possesses executive and board leadership experience and provides broad\nranging operational and strategic insights, an international perspective, and\nfinancial expertise to our Board. Mr. White was President, Chief Executive\nOfficer, and Chairman of the Board of Directors of DIRECTV, where he oversaw\nthe operations and strategic direction of the company in the U.S. and in Latin\nAmerica. Prior to joining DIRECTV, he served as the Chief Executive Officer of\nPepsiCo International, Frito-Lay\u2019s Europe, Africa, and Middle East division,\nand Snack Ventures Europe, PepsiCo\u2019s partnership with General Mills\nInternational. He also served as Chief Financial Officer of PepsiCo., Inc.,\nPepsi-Cola Company worldwide, and Frito-Lay International. Mr. White began his\ncareer as a management consultant at Bain & Company and Arthur Andersen & Co.\n\n###  Professional highlights:\n\n  * Served as Chairman, President, and Chief Executive Officer of DIRECTV, a leading provider of digital television entertainment services, from January 2010 to August 2015; and as a Director of the company, from November 2009 until August 2015 \n  * Chief Executive Officer of PepsiCo International, from February 2003 until November 2009; and served as Vice Chairman and director of PepsiCo, from March 2006 to November 2009, after holding positions of increasing importance with PepsiCo since 1990 \n  * Served as Senior Vice President at Avon Products, Inc. \n  * Served as a Management Consultant at Bain & Company and Arthur Andersen & Co. \n  * Served as Lead Director of the Board of Directors of Kimberly- Clark Corporation; and Chair of its Executive Committee \n  * Served as a member of the Board of Directors of Whirlpool Corporation; Chair of its Audit Committee; and a member of its Corporate Governance and Nominating Committee \n\n###  Other leadership experience and service:\n\n  \n\n  * Vice Chair of The Partnership to End Addiction \n\n###  Other U.S.-listed company boards:\n\n  * Kimberly-Clark Corporation _(past five years)_\n  * Whirlpool Corporation _(past five years)_\n\nView Bio\n\n###  **Thomas D. Woods**\n\nFormer Vice Chairman and  \nSenior Executive Vice  \nPresident, Canadian Imperial  \nBank of Commerce\n\n  \nView Bio\n\nSame page link Thomas D. Woods Dialog\n\n##  Thomas D. Woods\n\n**Former Vice Chairman and  \nSenior Executive Vice  \nPresident, Canadian Imperial  \nBank of Commerce (CIBC) **\n\nAge: 72  Director since: April 2016\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nMr. Woods is a veteran financial services executive with experience in risk\nmanagement, corporate strategy, finance, and the corporate and investment\nbanking businesses.\n\nMr. Woods is a veteran financial services executive with experience in risk\nmanagement, corporate strategy, finance, and the corporate and investment\nbanking businesses.\n\n###  Professional highlights:\n\n  * Served as Vice Chairman and Senior Executive Vice President of CIBC, a leading Canada-based global financial institution, from July 2013 until his retirement in December 2014 \n  * Served as Senior Executive Vice President and Chief Risk Officer of CIBC, from 2008 to July 2013; and Senior Executive Vice President and Chief Financial Officer of CIBC, from 2000 to 2008 \n  * Began his career at CIBC in 1977 through Wood Gundy, a predecessor firm; served in various senior leadership positions, including as Controller of CIBC; as Chief Financial Officer of CIBC World Markets (CIBC\u2019s investment banking division); and as the Head of CIBC\u2019s Canadian Corporate Banking division \n  * Served as Chair of the Board of Directors of Hydro One Limited, an electricity transmission and distribution company serving the Canadian province of Ontario, and publicly traded and listed on the Toronto Stock Exchange, from August 2018 to July 2019 \n  * Member of the Board of Directors of MLI; Chair of its Risk Committee; and member of its Governance Committee \n  * Member of the Board of Directors of BofASE \n\n###  Other leadership experience and service:\n\n  * Chair of Board of Directors of Institute of Corporate Directors (Institut des Administrateurs de Soci\u00e9t\u00e9s) \n  * On the advisory committee of Cordiant Capital Inc., a global infrastructure and real assets manager \n  * Member of the University of Toronto College of Electors and of the Boards of Directors of Catholic Health Sponsors of Ontario and St. Michael\u2019s Hospital Foundation \n  * Former member of the Board of Directors of Alberta Investment Management Corporation, a Canadian institutional investment fund manager from 2015 to 2024; of the Board of Directors of Jarislowsky Fraser Limited, a global investment management firm, from 2016 to 2018; of the Boards of Directors of DBRS Limited and DBRS, Inc., an international credit rating agency, from 2015 to 2016; and of the Board of Directors of TMX Group Inc., a Canada-based financial services company, from 2012 to 2014 \n\n###  Other U.S.-listed company boards:\n\n  * N/A \n\nView Bio\n\n###  **Maria T. Zuber**\n\nPresidential Advisor for  \nScience  \nand Technology Policy  \nand E.A. Griswold Professor of  \nGeophysics,  \nMassachusetts Institute of Technology\n\n  \nView Bio\n\nSame page link Maria T. Zuber Dialog\n\n##  Maria T. Zuber\n\n**Presidential Advisor for  \nScience  \nand Technology Policy  \nand E.A. Griswold Professor of  \nGeophysics,  \nMassachusetts Institute of Technology (MIT) **\n\nAge: 66  Director since: December 2017\n\nCommittee membership:  Corporate Governance Committee / Enterprise Risk\nCommittee\n\nDr. Zuber is a distinguished research scientist and academic leader who brings\na breadth of risk management, technology, geopolitical insights, and strategic\nplanning thought leadership to our Board.\n\nDr. Zuber is the first woman to lead a science department at MIT and the first\nwoman to lead a NASA planetary mission. While serving as Vice President for\nResearch at MIT, Dr. Zuber oversaw multiple interdisciplinary research\nlaboratories and centers focusing on cancer research, energy and environmental\nsolutions initiatives, plasma science and fusion, electronics, nanotechnology,\nand radio science and technology. She also led the development of MIT\u2019s\ninitial Climate Action Plan, and is responsible for intellectual property,\nresearch integrity and compliance, and research relationships with the federal\ngovernment. Dr. Zuber has held leadership roles on 10 space exploratory\nmissions with NASA. She also served on the National Science Board under\nPresident Obama and President Trump and was Co-Chair of President Biden\u2019s\nCouncil of Advisors on Science and Technology.\n\n###  Professional highlights:\n\n  * Presidential Advisor for Science and Technology Policy at MIT, a leading research institution, since 2023, where she tracks trends and seizes opportunities to inform and advance state and federal science and technology policy and provides strategic direction to campus labs, centers, and initiatives connected to defense or national security and represents MIT with external stakeholders \n  * Served as Vice President for Research at MIT, from 2013 to 2024, where she oversaw MIT Lincoln Laboratory and more than a dozen interdisciplinary research laboratories and centers and led the development of MIT\u2019s initial Climate Action Plan \n  * Served as a Professor at MIT since 1995, and was Head of the Earth, Atmospheric, and Planetary Sciences Department, from 2003 to 2011 \n  * Served in a number of positions at NASA, including as a Geophysicist, from 1986 to 1992, a Senior Research Scientist, from 1993 to 2010; and as Principal Investigator of the Gravity Recovery and Interior Laboratory (GRAIL) mission, from 2008 to 2017, which was designed to create the most accurate gravitational map of the moon to date and give scientists insight into the moon\u2019s internal structure, composition, and evolution; and held leadership roles associated with scientific experiments or instrumentation on 10 NASA missions \n  * Member of the Board of Directors of Textron Inc. and Chair of its Nominating and Corporate Governance Committee \n\n###  Other leadership experience and service:\n\n  * Appointed by President Biden in 2021 as Co-Chair of the President\u2019s Council of Advisors on Science and Technology \n  * Appointed by President Obama in 2013 and reappointed by President Trump in 2018 to the National Science Board, a 25-member panel that serves as the governing board of the National Science Foundation and as advisors to the President and Congress on policy matters relating to science and engineering; and served as Board Chair, from 2016 to 2018 \n  * Co-Chair of the National Academies of Science, Engineering and Medicine\u2019s National Science, Technology, and Security Roundtable \n  * Chair of NASA\u2019s Mars Sample Return Mission Standing Review Board \n  * Board of Trustees of Brown University \n\n###  Other U.S.-listed company boards:\n\n  * Textron Inc. \n\nThis website uses cookies to ensure you get the best experience on our\nwebsite.  \n[ View our privacy policy.\n](https://newsroom.bankofamerica.com/content/newsroom/home/cookie-policy.html)\n\n  * [ Email Alerts ](/events-and-presentations/email-alerts)\n  * [ Contacts ](/shareholder-information/contact)\n  * [ RSS News Feed ](https://newsroom.bankofamerica.com/content/newsroom/press-releases.html/rss)\n  * [ Terms of use ](/terms-of-use)\n\n##  Footer Information\n\n  * [ Sign in ](https://www.bankofamerica.com/online-banking/sign-in/)\n  * [ Contact us ](https://www.bankofamerica.com/contactus/contactus.go)\n  * [ Location finder ](https://locators.bankofamerica.com/)\n  * [ Help ](https://www.bankofamerica.com/help/overview.go)\n\n  * ##  [ Our company ](https://about.bankofamerica.com/en/our-company)\n\n    * [ Responsible growth ](https://about.bankofamerica.com/en/our-company/responsible-growth)\n    * [ Business practices ](https://about.bankofamerica.com/en/our-company/business-practices)\n    * [ What we offer ](https://about.bankofamerica.com/en/our-company/what-we-offer)\n    * [ Modern Slavery Act Statement ](https://about.bankofamerica.com/content/dam/about/pdfs/Modern-Slavery-Act.pdf)\n  * ##  [ Making an impact ](https://about.bankofamerica.com/en/making-an-impact)\n\n    * [ Local impact ](https://about.bankofamerica.com/en/our-company/local-presence)\n    * [ Sustainable finance ](https://about.bankofamerica.com/en/making-an-impact/sustainable-finance)\n    * [ Supporting economic opportunity ](https://about.bankofamerica.com/en/making-an-impact/racial-equality-economic-opportunity)\n    * [ Environmental sustainability ](https://about.bankofamerica.com/en/making-an-impact/environmental-sustainability)\n    * [ Find resources ](https://about.bankofamerica.com/en/making-an-impact/find-resources)\n  * ##  [ Working here ](https://about.bankofamerica.com/en/working-here)\n\n    * [ Explore Careers ](https://careers.bankofamerica.com/en-us)\n  * ##  [ Investors ](https://investor.bankofamerica.com)\n\n    * [ Profile ](/profile)\n    * [ Quarterly Earnings ](/quarterly-earnings)\n    * [ Events & Presentations ](/events-and-presentations)\n    * [ Regulatory & Other Filings ](/regulatory-and-other-filings)\n    * [ Fixed Income ](/fixed-income)\n    * [ Shareholder Info ](/shareholder-information)\n    * [ Annual Reports & Proxy ](/annual-reports-and-proxy-statements)\n    * [ Governance ](/corporate-governance)\n  * ##  [ Newsroom ](https://newsroom.bankofamerica.com/?cm_re=EBZ-Corp_SocialResponsibility-_-Enterprise-_-EI38LT0004_AboutSite_Newsroom)\n\n    * [ Press releases ](https://newsroom.bankofamerica.com/press-releases)\n    * [ Executive biographies ](https://newsroom.bankofamerica.com/biographies?cm_re=EBZ-Corp_SocialResponsibility-_-About_Us-_-EI38LT000B_About_Us_Biography)\n    * [ Journalist resources ](https://newsroom.bankofamerica.com/journalistresources?cm_re=EBZ-Corp_SocialResponsibility-_-About_Us-_-EI38LT0007_About_Us_Journalist)\n    * [ Awards & recognition ](https://newsroom.bankofamerica.com/awards?cm_re=EBZ-Corp_SocialResponsibility-_-About_Us-_-EI38LT0008_About_Us_Awards)\n\n[ ](https://about.bankofamerica.com/en)\n\n**Investing in securities involves risks, and there is always the potential of\nlosing money when you invest in securities.**\n\n  \n\nThis material does not take into account your particular investment\nobjectives, financial situations or needs and is not intended as a\nrecommendation, offer or solicitation for the purchase or sale of any\nsecurity, financial instrument, or strategy. 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RT  =Real-\nTime,  EOD  =End of Day,  PD  =Previous Day. Market Data powered by [\nQuoteMedia ](http://www.quotemedia.com) . [ Terms of Use (QuoteMedia)\n](http://www.quotemedia.com/legal/tos/) .\n\n##  Navigating away from bankofamerica.com\n\nYou are continuing to another website that Bank of America doesn\u2019t own or\noperate. Its owner is solely responsible for the website\u2019s content, offerings\nand level of security, so please refer to the website\u2019s posted privacy policy\nand terms of use.\n\n",
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                "page_content": "[ Home  ](/global/en \"Home\")\n\n[ Investors  ](/global/en/investors \"Investors\")\n\n[ BASF at a Glance  ](/global/en/investors/basf-at-a-glance \"BASF at a\nGlance\")\n\n[ Corporate Governance  ](/global/en/investors/basf-at-a-glance/corporate-\ngovernance \"Corporate Governance\")\n\n[ Diversity, Equity and Inclusion  ]( \"Diversity, Equity and Inclusion\")\n\nInvestors\n\n#  Diversity, Equity and Inclusion\n\n  * [ ](/global/en/investors/contact)\n  * \n\nThe commitment to diversity, equity, and inclusion is embedded in our\ncorporate values. Diversity, Equity and Inclusion (DE&I) fosters an inclusive\nworking environment where our teams interact with respect, trust, and\nappreciation.\n\n**Dr. Markus Kamieth**  \nChairman of the Board of Executive Directors\n\n> At BASF, we value the diversity of people, opinions, experiences and skills.\n> It is an important factor in our long-term success. That is why we promote\n> an inclusive working environment in which our teams treat each other with\n> respect, trust and appreciation \u2013 regardless of gender, age, ethnic\n> background or other characteristics.\n\nEmployees should be able to contribute their individual perspectives and\nskills in an inclusive working environment. As a global company, we serve many\ndifferent customer needs. We want to reflect, value and promote this diversity\namong our employees in order to increase their creativity, motivation and\nsense of belonging to BASF.\n\nWe are committed to equal opportunities whereby no one is at a disadvantage\ndue to race, gender, age, skin color, nationality, disability, religion or\nworldview, sexual orientation, ethnicity, social status, marital status,\ngender identity or expression, political opinion, pregnancy, maternity,\nparental status or any other characteristics protected by law. This includes\nequal pay for equal work.\n\nAt BASF, we expect human resources-related decisions to be made based on\nobjective criteria. We do not tolerate discrimination, harassment or any other\nform of abuse. If, however, incidents come to our attention, for example via\nour grievance channels, we aim to act immediately and take the appropriate\nremedial actions.\n\nWe embrace the diversity of our employees.\n\nThe equal treatment of women and men has been an integral part of BASF's\ncorporate philosophy worldwide for years. BASF is committed to group-wide\nuniform remuneration principles that are based on market, function, and\nperformance, and are independent of gender or other personal characteristics.\nFor 2024, BASF has globally collected the unadjusted gender pay gap between\nfemale and male employees. This gender pay gap* amounts to 1.7% globally.  \n\n* Defined as the difference between the average salary levels of our female and male employees, expressed as a percentage of the average salary level of male employees. Based on annual base salary plus variable target compensation. \n\nA global requirement stipulates the promotion of diversity and inclusion\nwithin the BASF Group with a focus on the corporate value of \u201copen\u201d. It\ndefines standards for a fair working environment and emphasizes the importance\nof equal opportunities and compliance with antidiscrimination laws. The\nobjective is to establish a diverse and inclusive working environment in which\nour employees enjoy working. The requirement is supported through national or\nlocal actions ensuring that we remain fully compliant with applicable laws.\n\nRelevant Links\n\n  1. [ BASF Report 2024  ](http://report.basf.com/2024/en/ \"BASF Report 2024\")\n  2. [ Our values  ](/global/en/who-we-are/about-us/our-values \"Our values\")\n  3. [ Our Code of Conduct  ](/global/en/who-we-are/organization/management/code-of-conduct \"Our Code of Conduct\")\n  4. [ Grievance mechanism  ](/global/en/who-we-are/sustainability/responsibility-for-society-and-nature/human-rights/grievance-mechanism \"Grievance mechanism\")\n  5. [ Human Rights  ](/global/en/who-we-are/sustainability/responsibility-for-society-and-nature/human-rights \"Human Rights\")\n\nPromoting diversity affects positively BASF, for example through having an\ninclusive working environment and a more diverse workforce.\n\nAs part of the 2024 Employee Voices global survey, we again used the\n**inclusion index** as a relevant point of reference for the inclusion of our\nemployees and provided our leaders with suggestions for follow-up measures.\n\nDiversity also relates to the company\u2019s **demographic profile** . Our aim is\nto create a suitable framework to help maintain the employability of our\npersonnel at all stages of life and ensure the availability of qualified\nemployees over the long term.\n\nAs part of our **initiative against sexual harassment and discrimination** ,\nwe launched a **communication campaign** in May 2024 at the Ludwigshafen site\nin Germany to raise awareness about the fact that discrimination and\nharassment have no place at BASF. This campaign will continue at additional\nBASF Group sites in 2025.\n\nDiversity, Equity and Inclusion: Our differences make us successful\n\nAt BASF all talents should feel welcomed, regardless of gender, cultural,\nreligious, professional or social background, sexual orientation or identity,\norigin, physical and mental ability, or any other characteristics.\n\n  1. [ Read more  ](/global/en/careers/why-join-basf/diversity \"Read more\")\n\n###  Global ambition for more diversity on the leadership team\n\n2030 ambition\n\n  \nProportion of women in leadership positions with disciplinary responsibility\n\n30%\n\nWe have set ourselves the global ambition of promoting female leaders and aim\nto increase the proportion of women in leadership positions with disciplinary\nresponsibility to 30% by 2030.* As of December 31, 2024, the proportion of\nwomen working in the BASF Group was 27.1%. The proportion of women in\nleadership positions with disciplinary responsibility worldwide was 29.3%\n(2023: 28.4%) as of December 31, 2024. BASF\u2019s management reviews the status of\nthis target achievement on a regular basis via a global dashboard.\n\n* In so doing, we act in accordance with applicable local laws. \n\nWomen in the Board of Executive Directors  \n16.7%  \n(As of 31.12.2024)\n\nWomen in leadership positions  \n29.3%  \n(As of 31.12.2024)\n\nFurthermore, we consistently take part in career events to **specifically**\nreach and attract female talent from various disciplines. We focus on our\n**female employees** as role models on our social media channels and with\nvarious initiatives such as career fairs and networking events.\n\n###  Commitments to promote the participation of women in leadership positions\nat BASF SE\n\n**In addition to our voluntary commitment to promote women in leadership\npositions, in Germany, the Act on Equal Participation of Women and Men in\nLeadership Positions in the Private and Public Sector (_Gesetz f\u00fcr die\ngleichberechtigte Teilhabe von Frauen und M\u00e4nnern an F\u00fchrungspositionen in der\nPrivatwirtschaft und im \u00f6ffentlichen Dienst, \u201cF\u00fcPoG I & II\u201d _ ) applies to\nlisted companies or companies subject to co-determination. **\n\nF\u00fcPoG I & II not only applies to BASF SE, but also to various German BASF\nGroup companies (see the overviews below). These companies set their own\ntargets for the proportion of women on the respective supervisory and\nmanagement boards and on the first and second levels below the management\nboard as well as a deadline for the attainment of these targets, which they\ndisclosed in accordance with statutory requirements.\n\nThe **supervisory board** of a publicly listed European stock corporation (SE)\nthat is composed of the same number of shareholder and employee\nrepresentatives must, according to section 17(2) of the SE Implementation Act,\nconsist of at least 30% women and 30% men. Since the 2018 Annual Shareholders\u2019\nMeeting, the Supervisory Board of BASF SE comprises four women, of whom two\nare shareholder representatives and two are employee representatives, and\neight men. The Supervisory Board\u2019s composition meets the statutory\nrequirements.\n\nFollowing the entry into force of the F\u00fcPoG II on August 12, 2021, if the\n**management board** of a listed company consists of more than three persons,\nat least one woman and one man must be members of the management board\n(section 76(3a) German Stock Corporation Act, _Aktiengesetz, \u201cAktG\u201d_ ). BASF\nmet this requirement in the reporting year 2024. With Dr. Katja Scharpwinkel,\nthere has been one female board member. With six members of the Board of\nExecutive Directors, this corresponds to a 16.7 percentage of women.\n\nThe Board of Executive Directors also decided on target figures for the\nproportion of women in the **two management levels below the Board of\nExecutive Directors of BASF SE** (section 76(4) AktG). For the target-\nattainment period from January 1, 2022, to December 31, 2026, the Board of\nExecutive Directors resolved as targets the quotas achieved as of December 31,\n2021: 20.0% for the proportion of women in the management level directly below\nthe Board and 23.2% for the level below that. As of December 31, 2024, the\nproportion of women in the management level directly below the Board amounted\nto 25.9% and to 26.4% on the level below that.\n\nFor those **German Group companies** that are subject to co-determination,\ntarget figures have also been set in accordance with the legal requirements in\nsections 36, 52(2) of the German Act on Limited Liability Companies ( _GmbHG_\n). The following tables show the target figures set for the target-attainment\nperiod ended on December 31, 2021, the proportion of women at the end of that\ntarget-attainment period, the proportion of women as of December 31, 2024, and\nthe target figures for the target-attainment period started on January 1,\n2022, and ending on December 31, 2026, at the German BASF Group companies\nsubject to co-determination (excluding BASF SE). The deadline for achieving\nthe targets has been set for December 31, 2026.\n\nBASF views the **further development and promotion of women as a global duty**\nindependent of individual Group companies. For this purpose, it has committed\nto ambitious targets on a worldwide scale. The new target is to increase the\nproportion of women in leadership positions worldwide to 30% by 2030.* In\ndoing so, we act in accordance with applicable local laws. As of December 31,\n2024, the proportion of women working in the BASF Group was 27.1%. The\nproportion of women in leadership positions with disciplinary responsibility\nworldwide was 29.3% (2023: 28.4%) as of December 31, 2024. BASF\u2019s management\nreviews the status of this target achievement on a regular basis via a global\ndashboard.\n\n* _In so doing, we act in accordance with applicable local laws._\n\n**Group Company** |  **Supervisory Board** |  |  **Management Board**  \n---|---|---|---  \n|  **Target set for Dec 31, 2021** |  **Status  \nDec 31, 2021 ** |  **Status Dec 31, 2024** |  **Target set for Dec 31, 2026** |  |  **Target set for Dec 31, 2021** |  **Status Dec 31, 2021** |  **Status Dec 31, 2024** |  **Target set for Dec 31, 2026**  \n**BASF Catalysts Germany GmbH** |  0%   \n(0 of 3)  |  0%   \n(0 of 3)  |  0%   \n(0 of 3)  |  33.3%   \n(1 of 3)  |  |  0%   \n(0 of 3)  |  0%   \n(0 of 3)  |  0%   \n(0 of 2)  |  33.3%   \n(1 of 3)  \n**BASF Coatings GmbH** |  0%   \n(0 of 12)  |  8.3%   \n(1 of 12)  |  33.3%   \n(4 of 12)  |  8.3%   \n(1 of 12)  |  |  0%   \n(0 of 2)  |  0%   \n(0 of 2)  |  0%   \n(0 of 2)  |  0%   \n(0 of 2)  1  \n**BASF Digital Solutions GmbH** |  0%   \n(0 of 3)  |  0%   \n(0 of 3)  |  33.3%   \n(1 of 3)  |  33.3%   \n(1 of 3)  |  |  0%   \n(0 of 3)  |  33.3%   \n(1 of 3)  |  50%   \n(1 of 2)  |  33.3%   \n(1 of 3)  \n**BASF Logistics GmbH** |  n/a  |  n/a  |  0%   \n(0 of 3)  |  33.3%   \n(1 of 3)  |  |  n/a  |  n/a  |  50%   \n(1 of 2)  |  0%   \n(0 of 2)  1  \n**BASF Personal Care and Nutrition GmbH** |  0%   \n(0 of 3)  |  0%   \n(0 of 3)  |  33.3%   \n(1 of 3)  |  33.3%   \n(1 of 3)  |  |  0%   \n(0 of 3)  |  0%   \n(0 of 3)  |  33.3%   \n(1 of 3)  |  33.3%   \n(1 of 3)  \n**BASF Polyurethanes GmbH** |  33.3%   \n(1 of 3)  |  33.3%   \n(1 of 3)  |  33.3%   \n(1 of 3)  |  33.3%   \n(1 of 3)  |  |  0%   \n(0 of 1)  |  0%   \n(0 of 1)  |  0%   \n(0 of 1)  |  0%   \n(0 of 1)  1  \n**BASF Schwarzheide GmbH** |  22.2%   \n(2 of 9)  |  0%   \n(0 of 9)  2  |  25%   \n(3 of 12)  |  11%   \n(1 of 9)  |  |  0%   \n(0 of 2)  |  50%   \n(1 of 2)  |  50%   \n(1 of 2)  |  0%   \n(0 of 2)  1  \n**BASF Services Europe GmbH** |  33.3%   \n(1 of 3)  |  33,3%   \n(1 of 3)  |  50%   \n(6 of 12)  |  33.3%   \n(1 of 3)  |  |  0%   \n(0 of 2)  |  0%   \n(0 of 1)  |  50%   \n(1 of 2)  |  0%   \n(0 of 1)  1  \n**Chemetall GmbH** |  16.7%   \n(1 of 6)  |  33.3%   \n(2 of 6)  |  33.3%   \n(2 of 6)  |  33.3%   \n(2 of 6)  |  |  0%   \n(0 of 2)  |  0%   \n(0 of 1)  |  100%   \n(1 of 1)  |  0%   \n(0 of 1)  1  \n  \n1  Since there are only one or two managing director positions in the\ncompanies and an enlargement of the management is not objectively necessary\ndue to the size and structure of the respective company, only 0, 1 or 2 or 0%,\n50% or 100% can be set as a target from the outset. The determination to 100%\nwould not make sense, as the management would then necessarily only be filled\nby women and in some companies the previous managing director would\nconsequently have to be dismissed prematurely. The fixing of a quota of 50%\nfor companies with two managing director positions, one of which is currently\nfilled by a woman, would also not be appropriate, because in the event of a\npossible change of the current managing director during the target-attainment\nperiod, which cannot be ruled out in the BASF Group due to the regular job\nrotation of executives, a woman would necessarily have to be appointed as\nsuccessor. With targets set accordingly, a successful candidate is likely to\nbe subject to massive speculation that she has only been appointed on the\nbasis of the target. In order to prevent such a constellation, which would\nhave considerable negative consequences for the working atmosphere and the\nacceptance of the management, a target value of 0 (0%) is set in each case.\nRegardless of this target, in the event of a possible replacement during the\ntarget-attainment period, a decision will be made after a comprehensive\nassessment of the suitability of all candidates.\n\n2  The Supervisory Board of BASF Schwarzheide GmbH consists of 6\nrepresentatives appointed by the shareholders and 3 representatives elected by\nthe employees. The last election of employee representatives took place in\n2017, in which a woman stood for election and was also elected. Later, she\nresigned for personal reasons. She was automatically replaced by the (male)\nsubstitute member elected at the same time. Since the proportion of women in\nthe workforce of BASF Schwarzheide is only 22% (as of December 31, 2021), this\nhad a limiting influence on the appointment of women as candidates for the\nemployee elections to the Supervisory Board. On the part of the shareholders,\nthe assignment of Supervisory Board mandates is purely function-related or\njob-related, and the Supervisory Board mandates are taken over exclusively by\nexecutives from the technical and operational functions of the BASF Group, in\nwhich fewer women than men continue to work. During the target-attainment\nperiod, a female executive left the Supervisory Board due to the assumption of\nanother position within the BASF Group and her seat was taken over by her male\nsuccessor. For these reasons, the target was missed.\n\n**Group Company** |  **1st Level of management below Management Board** |  |  **2nd Level of management below Management Board**  \n---|---|---|---  \n|  **Target set for Dec 31, 2021** |  **Status Dec 31, 2021** |  **Status Dec 31, 2024** |  **Target set for Dec 31, 2026** |  |  **Target set for Dec 31, 2021** |  **Status Dec 31, 2021** |  **Status Dec 31, 2024** |  **Target set for Dec 31, 2026**  \n**BASF Catalysts Germany GmbH** |  5%  |  8.3%   \n(2 of 24)  |  10.2%   \n(5 of 49)  |  8.3%   \n(2 of 24)  |  |  14%  |  23.3%   \n(7 of 30)  |  34.7%   \n(25 of 72)  |  23.3%   \n(7 of 30)  \n**BASF Coatings GmbH** |  19%  |  33.3%   \n(5 of 15)  |  23.1%   \n(3 of 13)  |  33.3%   \n(5 of 15)  |  |  8%  |  17.3%   \n(9 of 52)  |  15.4%   \n(8 of 52)  |  17.3%   \n(9 of 52)  \n**BASF Digital Solutions GmbH** |  30%  |  32%   \n(8 of 25)  |  19.2%   \n(5 of 26)  |  32%   \n(8 of 25)  |  |  17%  |  24.6%   \n(30 of 122)  |  25.6%   \n(30 of 117)  |  24.6%   \n(30 of 122)  \n**BASF Logistics GmbH** |  n/a  |  n/a  |  0%   \n(0 of 7)  |  0%   \n(0 of 7)  1  |  |  n/a  |  n/a  |  20%   \n(5 of 25)  |  0%   \n(0 of 25)  1  \n**BASF Personal Care and Nutrition GmbH** |  20%  |  29.2%   \n(7 of 24)  |  31%   \n(9 of 29)  |  29.2%   \n(7 of 24)  |  |  17%  |  30.8%   \n(16 of 52)  |  32.7%   \n(32 of 98)  |  30.8%   \n(16 of 52)  \n**BASF Polyurethanes GmbH** |  11%  |  16.7%   \n(2 of 12)  |  18.8%   \n(3 of 16)  |  16.7%   \n(2 of 12)  |  |  13%  |  20.5%   \n(8 of 39)  |  17.2%   \n(5 of 29)  |  20.5%   \n(8 of 39)  \n**BASF Schwarzheide GmbH** |  0%  |  14.3%   \n(2 of 14)  |  13.3%   \n(2 of 15)  |  14.3%   \n(2 of 14)  |  |  0%  |  18.2%   \n(8 of 44)  |  20%   \n(8 of 40)  |  18.2%   \n(8 of 44)  \n**BASF Services Europe GmbH** |  30%  |  33.3%   \n(4 of 12)  |  45.8%   \n(11 of 24)  |  33.3%   \n(4 of 12)  |  |  30%  |  61.9%   \n(39 of 63)  |  59.8%   \n(119 of 199)  |  30.2%   \n(19 of 63)  \n**Chemetall GmbH** |  3%  |  0%  2  |  29.4%   \n(5 of 17)  |  33.3%   \n(1 of 3)  |  |  25%  |  8.3%   \n(1 of 12)  2  |  14.8%   \n(4 of 27)  |  8.3%   \n(1 of 12)  \n  \n1  The company belongs to the logistics sector. Most of the activities take\nplace in a production- and chemistry-related environment. The proportion of\nwomen in this sector and in the corresponding occupational fields is very low.\nThis makes it difficult to identify and promote female managers. Experience\nsince the company was founded in 2015 has confirmed this so far. The\nproportion of female applicants is less than 2%.\n\n2  The company was acquired by BASF at the end of 2016 and the targets were\nstill set on the basis of Chemetall\u2019s definition of management levels.\nApplying the criteria used uniformly at BASF to define the management levels,\ntarget values of 0% for the 1st management level below the management board\nlevel and 9.52% for the 2nd management level would have been achieved and only\nthe target for the 2nd management level would have been narrowly missed (9.52%\nvs. 8.33%). The reason for the non-achievement of the two targets is that the\ncompany is active in the automotive, aerospace, aluminum finishing and metal\nforming industries and mainly employs personnel in the field of production and\nproduct development. The proportion of women in these industries and\noccupational fields is still significantly lower than the proportion of men,\nwhich makes it difficult to identify and promote female managers.\n\n###  BASF\u2019s engagement\n\nBASF is involved in various regional and international networks as well as\n(partner) organizations, initiatives, and associations to promote diversity,\nequity and inclusion. A central element of this engagement is the support of\nthe [ UN Global Compact ](https://www.unglobalcompact.org/what-is-gc) , which\nencourages companies to respect [ universal principles\n](https://www.unglobalcompact.org/what-is-gc/mission/principles) and support\nthe United Nations' goals, particularly the Sustainable Development Goals ( [\nSDGs ](https://www.unglobalcompact.org/sdgs) ).\n\nAnother focus is on promoting gender equality through the [ Women's\nEmpowerment Principles ](https://www.weps.org/) (WEPs). Furthermore, BASF\nsupports the global [ LGBTI Code of Conduct of the United Nations\n](https://www.unfe.org/what-we-do/our-campaigns/standards-of-conduct-for-\nbusiness) , and is a founding member of the [ PrOUT@work Foundation\n](https://www.proutatwork.de/en/) . BASF is also committed to promoting all\ndimensions of diversity in Germany through the [ Charta der Vielfalt\n](https://www.charta-der-vielfalt.de/) (Diversity Charter).\n\nLast Update  March 21, 2025\n\n##  Follow us\n\n  * [ __ ](https://www.linkedin.com/company/basf \"Visit us on LinkedIn\")\n  * [ __ ](https://www.facebook.com/basf \"Visit us on Facebook\")\n  * [ __ ](https://www.youtube.com/user/basf \"Visit us on Youtube\")\n  * [ __ ](https://www.instagram.com/basf_global/ \"Follow us on Instagram\")\n\nCompany\n\n  1. [ Career  ](/global/en/careers \"Career\")\n\n  2. [ Media  ](/global/en/media \"Media\")\n\n  3. [ Sustainability  ](/global/en/who-we-are/sustainability \"Sustainability\")\n\n  4. [ Innovation  ](/global/en/who-we-are/innovation \"Innovation\u00a0\")\n\nProducts\n\n  1. [ Product Finder  ](https://products.basf.com/global/en \"Product Finder\")\n\n  2. [ Industries  ](/global/en/products \"Industries\")\n\n  3. [ General Conditions of Sale BASF SE  ](https://products.basf.com/global/en/general_conditions_of_sales \"General Conditions of Sale BASF SE\")\n\nInformation\n\n  1. [ IR Releases  ](/global/en/investors/calendar-and-publications/investor-releases \"IR Releases\")\n\n  2. [ Newsletter  ](/global/en/investors/calendar-and-publications/service-for-shareholders/newsletter \"Newsletter\")\n\n  3. [ Publications  ](/global/en/investors/calendar-and-publications/publication-finder \"Publications\")\n\n  4. [ Reporting  ](/global/en/investors/calendar-and-publications/reporting \"Reporting\")\n\nService\n\n  1. [ Compliance Hotline  ](/global/en/who-we-are/organization/management/code-of-conduct \"Compliance Hotline\")\n\n  2. [ myBASFWorld  ](https://my.basf.com \"myBASFWorld\")\n\n  3. [ Procurement  ](/global/en/who-we-are/organization/suppliers-and-partners \"Procurement\")\n\nCopyright \u00a9 BASF 2025\n\n  * [ Disclaimer ](/global/en/legal/disclaimer \"Disclaimer\")\n\n  * Cookie Preference Center \n\n  * [ Credits ](/global/en/legal/credits \"Credits\")\n\n  * [ Privacy policy ](/global/en/legal/data-protection \"Privacy policy\")\n\n  * [ Data protection @BASF ](/global/en/legal/data-protection-at-basf \"Data protection @BASF\")\n\n  * [ Responsible Disclosure Statement ](/global/en/legal/responsible-disclosure-statement \"Responsible Disclosure Statement\")\n\n  * [ Contact ](/global/en/legal/contact \"Contact\")\n\n",
                "url": "https://www.basf.com/global/en/investors/basf-at-a-glance/corporate-governance/diversity"
            },
            "reason": "This is an official page from BASF detailing their approach to diversity within their corporate governance structure, providing direct and reliable information.",
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            "search_query": "company 'N/A' governance diversity inclusion",
            "summary": "Official page from BASF detailing their approach to diversity within their corporate governance structure.",
            "url": "https://www.basf.com/global/en/investors/basf-at-a-glance/corporate-governance/diversity"
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            "content": {
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                    "source": "https://www.canada.ca/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-measuring-progress.html"
                },
                "page_content": "#  Measuring progress: Accessibility Strategy for the Public Service of Canada  \n\n**From:[ Treasury Board of Canada Secretariat ](/en/government.html) **\n\n  * [ 1\\. Employment ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-employment.html)\n  * [ 2\\. Built environment ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-built-environment.html)\n  * [ 3\\. Technology ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-technology.html)\n  * [ 4\\. Services ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-services.html)\n  * [ 5\\. Culture ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-culture.html)\n  * [ 6\\. Measuring progress ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-measuring-progress.html)\n\n##  Measuring progress\n\n[ Read the progress report ](/en/government/publicservice/wellness-inclusion-\ndiversity-public-service/diversity-inclusion-public-service/accessibility-\npublic-service/accessibility-strategy-public-service-toc/progress-report-\nimplementation-nothing-without-us-2019-20.html)\n\n**Jump to:**\n\n  * How we measure results \n  * Who is responsible \n  * Lived experiences \n\n##  How we measure results\n\nResults framework  Goal  |  Performance indicator  |  Baseline  |  Target  |  Date to achieve target  |  Data source   \n---|---|---|---|---|---  \n1\\. Improve recruitment, retention and promotion of persons with disabilities  |  Percentage of public servants who identify as persons with disabilities  |  5.3%  |  7%  |  2025  |  Annual Employment Equity Report   \nAnnual promotion rate of persons with disabilities (%)  |  4.1%  |  6%  |  2025  |  Annual Employment Equity Report   \nPercentage of employees with disabilities who state that accessibility or accommodation issues cause stress at work to a large or very large extent  |  20%  |  10%  |  2025  |  Annual Public Service Employee Survey   \n2\\. Enhance the accessibility of the built environment  |  Difference between the percentage of employees with disabilities and the percentage of employees without disabilities who rate the physical work environment as a source of stress  |  10 percentage points  |  5 percentage points  |  2025  |  Annual Public Service Employee Survey   \nPercentage of buildings assessed against new accessibility obligations (CSA Group 2018 and beyond)  |  n/a  |  n/a  |  n/a  |  To be developed   \nPercentage of buildings that meet or exceed new accessibility obligations  |  n/a  |  n/a  |  n/a  |  To be developed   \n3\\. Make information and communications technology usable by all  |  Percentage of clients and employees with disabilities who are satisfied with the accessibility of workplace information and communications technology  |  n/a  |  n/a  |  n/a  |  To be developed   \nPercentage of internal solutions that meet accessibility standards  |  n/a  |  60%  |  2021  |  To be developed   \n4\\. Equip public servants to design and deliver accessible programs and services  |  Difference between the percentage of clients with disabilities and the percentage of clients without disabilities who report being satisfied with the quality of Government of Canada service  |  n/a  |  n/a  |  n/a  |  To be developed   \n5\\. Build an accessibility-confident public service  |  Difference between the percentage of employees with disabilities and the percentage of employees without disabilities reporting being harassed in the last year  |  18 percentage points  |  9 percentage points  |  2025  |  Annual Public Service Employee Survey   \nPercentage of employees with disabilities who agree that they can initiate a formal recourse process without fear of reprisal  |  35%  |  60%  |  2025  |  Annual Public Service Employee Survey   \nDifference between the percentage of clients with disabilities and the percentage of clients without disabilities who disagree with the statement, \u201cI feel I would be supported by my department or agency if I proposed a new idea\u201d  |  16 percentage points  |  8 percentage points  |  2025  |  Annual Public Service Employee Survey   \n  \n##  Who is responsible\n\n###  Roles and responsibilities for government-wide actions\n\nGoal 1: Improve recruitment, retention and promotion of persons with disabilities  Key actions  |  Lead  |  Supports   \n---|---|---  \nThrough the Centralized Enabling Workplace Fund, develop a government-wide\napproach to address workplace adjustments by supporting initiatives such as an\nemployee passport that:\n\n  * documents needs \n  * facilitates conversations with managers and corporate services \n  * tracks actions \n  * \u201ctravels\u201d with employees when they change positions \n\n|  TBS  (  OPSA  )  |  SSC  ,  HC  ,  CSPS  , other departments   \nLaunch the Federal Internship Program for Canadians with Disabilities  |  PSC  |  n/a   \nHire 5,000 persons with disabilities by 2025  |  PSC  |  TBS (  OCHRO  )   \nReview the representation of persons with disabilities within occupational groups to identify gaps  |  TBS (OCHRO)  |  PSC   \nHold targeted recruitment processes to fill identified gaps  |  PSC  |  TBS (OCHRO)   \nDevelop tools and training for supervisors to enable them to create inclusive teams  |  CSPS  |  TBS (OCHRO), PSC   \nReview existing development programs to ensure that persons with disabilities are properly represented and supported at each stage, from entry to exit  |  PSC and TBS (OCHRO)  |  CSPS   \nDevelop long-term employment targets for persons with disabilities that account for work potential as defined in the 2017 Canadian Survey on Disability  |  TBS (OCHRO)  |  ESDC  (Labour)   \nGoal 2: Enhance the accessibility of the built environment  Key actions  |  Lead  |  Supports   \n---|---|---  \nConduct an accessibility assessment of a portion of government buildings and establish a process to determine the feasibility of accessible built environment adaptations, the cost implications and a mechanism for prioritizing actions  |  PSPC  |  n/a   \nPilot initiatives in consultation with persons with disabilities to improve accessibility  |  PSPC  |  n/a   \nUpdate policies, directives and guidance relative to the built environment  |  TBS (OCG (Office of the Comptroller General))  |  NRC (National Research Council)/PSPC   \nBased on the findings of the accessibility assessment, develop an action plan to address accessibility in the existing federal portfolio  |  PSPC  |  n/a   \nEnsure that future service contracts for managing large facilities include high standards for accessibility  |  PSPC  |  n/a   \nImprove the accessibility of the leased portfolio by developing new lease clauses that ensure compliance with the latest standards, and continue to work with the landlord community  |  PSPC  |  n/a   \nEnsure that the Government of Canada\u2019s workplace fit-up meets or exceeds accessibility requirements, in consultation with persons with disabilities  |  PSPC  |  n/a   \nLaunch a procurement tool to seek services from third-party stakeholders to conduct technical assessments of buildings\u2019 accessibility  |  PSPC  |  n/a   \nGoal 3: Make information and communications technology usable by all  Key actions  |  Lead  |  Supports   \n---|---|---  \nPromote and improve existing services for accessibility, accommodations and adaptive computer technology  |  SSC  |  n/a   \nBuild accessibility into government-wide policy and standards  |  TBS (OCIO (Office of the Chief Information Officer))  |  n/a   \nEmbed accessibility into the procurement of information and communications technology  |  SSC  |  PSPC, TBS (OCG and OCIO), all departments   \nProvide public servants with a new suite of accessible digital communication and collaboration tools  |  SSC  |  TBS (OCIO)   \nAdopt a Government of Canada standard for accessibility to information and communications technology that incorporates all the elements of the European Union EN 301-549 2018 standard, and provide guidance to departments on its application (for example, beginning with new systems and content)  |  TBS (OCIO)  |  n/a   \nEnable accessibility features on all devices provided by SSC  |  SSC  |  All departments   \nLead the development of a more streamlined and efficient process to procure and deploy adaptive technology and ensure that users have access to ongoing technical support  |  SSC  |  TBS (OPSA) and PSPC   \nDevelop a government-wide plan and governance to address accessibility in enterprise systems, workplace devices, adaptive technologies and legacy systems  |  TBS (OCIO)  |  n/a   \nDevelop a scorecard for accessibility of all IT systems against an established Government of Canada accessibility standard for information and communications technology  |  TBS (OCIO)  |  SSC   \nProvide resources for employees to generate accessible content with common tools (for example, Microsoft Office)  |  SSC  |  TBS (OCIO and OPSA)   \nAugment the capacity to assess and test the accessibility of enterprise-wide systems  |  SSC  |  TBS (OCIO and OPSA) and CSPS   \nGoal 4: Equip public servants to design and deliver accessible programs and services  Key actions  |  Lead  |  Supports   \n---|---|---  \nContinue to improve accessibility of client services at Employment and Social Development Canada  |  ESDC (Service Canada)  |  n/a   \nProvide guidance on how to apply an accessibility lens to the design and delivery of programs and services  |  ESDC (ODI)  |  WAGE  , CSPS, TBS (OPSA)   \nPilot engagement and feedback processes from clients with disabilities  |  ESDC (Service Canada)  |  n/a   \nPublish accessibility-related data as part of the TBS service inventory  |  TBS (OCIO)  |  n/a   \nDevelop an accessible platform for consulting with Canadians  |  TBS (OCIO)  |  n/a   \nProvide guidance to departments on how to review their programs and services for accessibility  |  TBS (OPSA)  |  ESDC (Service Canada)   \nGoal 5: Build an accessibility-confident public service  Key actions  |  Lead  |  Supports   \n---|---|---  \nDevelop an accessibility hub  |  TBS (OPSA)  |  n/a   \nEmbed accessibility into training  |  CSPS  |  n/a   \nContinue to embed accessibility into the design and delivery of the curriculum of the Canada School of Public Service and in all training and tools for all functional communities  |  CSPS  |  TBS (OPSA)   \nReview existing Treasury Board policies with an accessibility lens and embed accessibility into guidance provided by TBS policy centres  |  TBS (policy centres)  |  TBS (OPSA)   \nDevelop tools and training to focus on developing inclusive and accessible environments from the start rather than seeking accommodations after the fact  |  TBS (OPSA)  |  n/a   \nDevelop training and awareness-raising events through the Canada School of Public Service and the Federal Speakers\u2019 Bureau on Healthy Workplaces, among other venues, to combat myths and remove stigma regarding disability  |  CSPS  |  TBS (OCHRO, OPSA)   \nPromote self-identification and self-declaration of employees with disabilities in order to reduce the stigma regarding disability and to improve reporting on the state of persons with disabilities in the public service  |  TBS (OCHRO)  |  PSC   \nHelp small departments and agencies establish a common advisory committee of persons with disabilities  |  TBS (OPSA)  |  n/a   \nStrengthen networks of employees with disabilities  |  TBS (OCHRO)  |  n/a   \n  \n##  Lived Experiences\n\n###  Case study: LiveWorkPlay\n\nLiveWorkPlay is an Ottawa-based organization that promotes programs to\novercome barriers to employment for persons with intellectual disabilities\nthat has partnered with a number of federal departments and agencies.\n\nAs of March 2019, there were 76 people hired in 25 departments and agencies.\nDepartments and agencies have found that persons with intellectual\ndisabilities are an asset to their organization. For persons with intellectual\ndisabilities, employment has provided them with income and a sense of social\ninclusion.\n\n####  Case study: From roadblocks to opportunities, the path to meaningful\nemployment in the public service\n\n> \u201cAs a person with a physical disability, I did not consider the Government\n> of Canada as an option to pursue full-time, permanent employment. In fact,\n> several employment counsellors framed the idea as impossible. I was advised\n> to make use of my graduate degree in the non-profit sector instead, where I\n> would be best suited to part-time employment.\n>\n> \u201cI had been warned that full-time employment would result in the loss of my\n> disability support pension. I had also been warned of the challenges of the\n> hiring process and of the barriers to meaningful employment. The advice did\n> not focus on opportunities, only roadblocks.\n>\n> \u201cI remained unemployed for several months. I struggled with anxiety,\n> depression, and feelings of vulnerability while living below the poverty\n> line. I was losing hope.\n>\n> \u201cI finally found the courage to write to all of my connections from graduate\n> school, and one of my contacts acted as a direct link to a hiring manager\n> within the public service. I viewed the meeting as an opportunity to\n> connect. I discussed my academic and professional credentials in an\n> articulate format, [but] I did not view the hiring manager as a gatekeeper\n> to potential opportunities. I received an offer on a casual basis and\n> eventually, this may lead to a full-time position with the public service. I\n> am glad that I did not limit myself to the possibilities as outlined by the\n> \u2018experts.\u2019\n>\n> \u201cEven with a supportive manager and team, the roadblocks in terms of\n> accessing adjustments in the public service were significant.\n>\n> \u201cI needed to order adaptive software to read and write. Once approved, early\n> installations of the software failed because information technology (IT)\n> security blocked both programs. It took a solid month before my reading\n> software was functional and three months to access my writing program, both\n> essential tools for the job.\n>\n> \u201cImagine not having the tools needed to read and write at a new job? That\n> summarizes my first month of professional experience with the public\n> service. Even with the support of my manager and my team, the ordeal was\n> extraordinarily stressful. Now that I have the tools required for my job, I\n> am thriving in my workplace and happy to contribute my knowledge and\n> expertise while making a difference.\n>\n> \u201cI am impressed with the flexible working environment. My manager\n> understands that my wheelchair is not able to drive through severe weather\n> conditions. Usually there is a significant amount of self-advocacy that\n> comes with being an employee with a disability. Presently, this is not the\n> case. Such an attitudinal shift allows me to focus on my job. I have found a\n> place of belonging, free from discrimination and harassment due to my\n> disability, and where I have a manager who never underestimates my\n> abilities. Words cannot express the gratitude that I experience within my\n> current position every single day.\u201d\n>\n> Testimony of a public service of Canada employee with a disability\n\n  * [ Previous ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-culture.html)\n\nTable of contents\n\n  * [ Foreword ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-forword.html)\n  * [ Introduction ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-introduction.html)\n  * [ Goal 1: Employment ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-employment.html)\n  * [ Goal 2: Built environment ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-built-environment.html)\n  * [ Goal 3: Technology ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-technology.html)\n  * [ Goal 4: Services ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-services.html)\n  * [ Goal 5: Culture ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-culture.html)\n  * [ Conclusion ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-conclusion.html)\n  * [ Appendix A ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-glossary.html)\n  * [ Appendix B ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-measuring-progress.html)\n  * [ Appendix C ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-measuring-progress.html)\n  * [ Appendix D ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-where-departments-should-start.html)\n  * [ Appendix E ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-promising-practices.html)\n  * [ Appendix F ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-scan-other-jurisdictions.html)\n  * [ Appendix G ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/what-we-heard-first-survey-draft-public-service-accessibility-strategy.html)\n  * [ Appendix H ](/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/what-we-heard-second-survey-draft-public-service-accessibility-strategy.html)\n\n##  Page details\n\nDate modified:\n\n     2023-10-23 \n\n##  About this site\n\n  *[\n          TBS\n         ]: Treasury Board of Canada Secretariat\n  *[\n          OPSA\n         ]: Office of Public Service Accessibility\n  *[\n          SSC\n         ]: Shared Services Canada\n  *[\n          HC\n         ]: Health Canada\n  *[\n          CSPS\n         ]: Canada School of Public Service\n  *[\n          OCHRO\n         ]: Office of the Chief Human Resources Officer\n  *[\n          ESDC\n         ]: Employment and Social Development Canada\n  *[\n          WAGE\n         ]: Department for Women and Gender  Equality\n\n",
                "url": "https://www.canada.ca/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-measuring-progress.html"
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            "url": "https://www.canada.ca/en/government/publicservice/wellness-inclusion-diversity-public-service/diversity-inclusion-public-service/accessibility-public-service/accessibility-strategy-public-service-toc/accessibility-strategy-public-service-measuring-progress.html"
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                    "source": "https://www.dfs.ny.gov/industry_guidance/industry_letters/il20210729_diversity_equity_incl_corpgov"
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                "page_content": "Skip to main content\n\n**July 29, 2021**\n\n**To: The Chief Executive Officers or the Equivalents of New York State\nRegulated Banking Institutions and Regulated Non-Depository Financial\nInstitutions** *****\n\n**Re: Diversity, Equity and Inclusion and Corporate Governance**\n\nAs Superintendent of the New York State Department of Financial Services, I\nhave regularly and consistently emphasized the value of diverse perspectives\nin the decision making and problem-solving process. There is clear data\nshowing that diverse teams perform better, are more innovative and more\neffectively manage risk. Since becoming Superintendent, I have made the\ndiversity of my leadership team a top priority, and deepened our commitment to\ndiversity, equity and inclusion (DEI) by establishing the agency\u2019s first\nemployee affinity groups, along with a new Statewide Office of Financial\nInclusion and Empowerment headed by Tremaine Wright, to meet the needs of low-\nand middle-income New Yorkers across the state. In addition, in the fall of\n2019, the New York State Council on Women and Girls created the [ Committee\nfor the Advancement of Women in Leadership in Financial Services\n](/reports_and_publications/press_releases/pr1910162) , which I co-chair,\nfocused on improving the representation and advancement of women, including\nwomen of color in financial services.\n\nAs Regulated Banking Institutions and Regulated Non-Depository Financial\nInstitutions move through the 21st century, many challenges and opportunities\nlie ahead. Already there are several forces at work impacting financial\nservices institutions, including the prevalence of digital technology,\nincreasing customer demands and expectations, and decreasing brand loyalty.\nWithout the ability to innovate and address these challenges, and those that\nare yet to come, the risks posed to the safety and soundness of the industry\nhave the potential to be highly disruptive. Regulators and industry groups are\nincreasingly taking steps to develop ideas to address these challenges,\nincluding: New York Bankers Association\u2018s (NYBA\u2019s) Virtual Speaker Series,\nwhich featured a panel discussion on Diversity, Equity and Inclusion  1  , and\nthe Conference of State Bank Supervisors (CSBS) 2021 CSBS Community Bank Case\nStudy Competition, which brought together fifty-three student teams from\nthirty-nine colleges and universities and partnered them with local community\nbanks to examine how those institutions have fared through the COVID-19\npandemic and what they are doing with regard to diversity and inclusion.  2\n\nDFS has broad statutory authority to ensure the stability of New York\u2019s\nRegulated Banking Institutions and Regulated Non-Depository Financial\nInstitutions to protect the public interest, the interests of depositors,\ncreditors and consumers, and to promote the growth of the industry and to\nrequest special reports. Under Banking Law \u00a737(3) the Superintendent may\nrequire any banking organization to make special reports to her at such times\nas she may prescribe.\n\nThe COVID-19 pandemic challenged individuals, institutions, and communities\nacross the world in unprecedented ways, consistently reminding us of the\ncosts, both human and financial, of failing to address systemic risks.\nConvergent crises -- the pandemic, associated economic downturn, racial\nunrest, and climate change -- have brought about broad changes in our everyday\nlives, our economy, and our society. The phrase \u201cnew normal\u201d has woven its way\ninto the modern lexicon, as government and business leaders prepare to adapt\nto life after the pandemic. To operate in this \u201cnew normal\u201d, institutions must\ndevelop innovative solutions to address complex and evolving risks and\nidentify new avenues of growth. Corporate governance, including capable\nleadership teams which reflect a diversity of skills, experience, and\nperspectives, is even more important during periods of great change. With\ngreat change comes great opportunity, and DFS stands ready to unite the public\nand private sectors to work together to reimagine, rebuild and renew.\n\nWe commend the actions already taken and the commitments that have been made\nby many Regulated Banking Institutions and Regulated Non-Depository Financial\nInstitutions  3  to increase the representation of people of color, women and\nother underrepresented groups on their boards, in their management, and in\ntheir workforce generally. We also praise the efforts of trade groups and\norganizations like CSBS, the American Bankers Association (ABA)3 and the NYBA\n4  .\n\nWhile the public statements from Regulated Banking Institutions and Regulated\nNon-Depository Financial Institutions in support of DEI initiatives are\nsignificant and necessary, it is time to act on those words and make good on\ngood intentions to begin to achieve real change. This industry letter is aimed\nat supporting existing DEI efforts while outlining DFS\u2019s expectation that New\nYork-regulated financial institutions make the diversity of their leadership a\nbusiness priority and a fundamental component of their corporate governance.\n\n##  Diversity as a Business Priority\n\nDiversity is good for an institution\u2019s bottom line, and the data shows it.\n\n**Increased Profitability**\n\nA 2020 McKinsey report tracking the trajectories of hundreds of companies\nsince 2014 detailed the impacts of diversity on profitability. Companies in\nthe top quartile for gender diversity within their executive teams were 25%\nmore likely to achieve above average profitability than those in the fourth\nquartile, an increase of 10% from 2014.  5  The case for ethnic and racial\ndiversity is equally compelling, with companies in the top quartile for ethnic\nand cultural diversity outperforming those in the fourth by 36%, an increase\nfrom 33% in 2017.  6  Further, the higher the representation of women and\npeople of color, the higher the likelihood of outperformance.  7  A Wall\nStreet Journal analysis of S&P 500 companies based on diversity and inclusion\nperformance, including the share of women in leadership roles, the presence of\ndiversity and inclusion programs, and board demographics, found that the\nhighest ranking companies achieved a higher operating profit margin relative\nto their lower performing counterparts.  8  According to a McKinsey analysis\nof 366 public companies across varied industries and countries, including the\nUnited States, companies in the top quartile for racial and ethnic diversity\nare 35% more likely to have financial returns above their national industry\nmedians.  9\n\n**Broader Customer Base**\n\nEffective DEI programs can improve overall results for an organization, and\ncentral to enhancing performance is the ability to better connect with a more\ndiverse customer base.  10  As the population becomes more diverse, banks and\nfinancial services firms stand to benefit from having a workforce that better\nreflects the communities they serve. The Census Bureau projects that between\n2016 and 2060, the percentage of non-Hispanic white Americans will decrease by\n19 million people, from 61% of the population down to 44.3%. In that same time\nspan the population of Black, Asian and Hispanic Americans is projected to\nincrease from 13.3% to 15%, 5.7% to 9.1% and 17.8% to 27.5%, respectively.  11\nWith regard to gender diversity, it is estimated that financial services firms\nare missing out on at least $700 billion in revenue opportunities each year by\nnot fully meeting the needs of women customers.  12  This is significant,\nconsidering that two-thirds of global household spending is controlled by\nwomen, 40% of global wealth is now held by women and 40% of entrepreneurs\nacross the globe are women.  13  These numbers are expected to increase in the\ncoming years, representing a significant growth opportunity.\n\n**More Innovation**\n\nMany challenges and opportunities to innovate await the banking and financial\nservices industries, particularly in the wake of COVID-19 which may ultimately\nlead to permanent shifts in customer expectations. As companies move through\nthe twenty first century the ability to innovate will be a key to growth and\nsuccess. When companies establish inclusive business cultures and policies,\nthey are more likely to report increases in creativity, innovation and\nopenness and better assessments of consumer interests and demands.  14  .\nCompanies that adapt and innovate enjoy a distinct advantage over their\ncompetitors, with research showing that over a three year period, companies\nwith greater management diversity earned 38% more on their revenues, on\naverage, from innovative products and services than their less diverse\ncompetitors. A 2018 Boston Consulting Group study of employees at more than\n1,700 companies in eight countries identified a \u201cstrong and statistically\nsignificant correlation between the diversity of management teams and overall\ninnovation.\u201d  15  That same analysis also found that companies that reported\nabove average diversity on their management teams also reported innovation\nrevenue that was 19 % higher than companies with below average leadership\ndiversity.  16  Diverse backgrounds and experiences lead to different\nviewpoints and opinions on complex issues, thereby leading to a plurality of\nsolutions. This type of innovative and creative environment will better\nposition banks and financial services firms to address the challenges ahead\nand continue to grow and strengthen their operations.\n\n**Better Risk Management**\n\nCredit, market, and liquidity risks constitute some of the biggest risks for\nbanking and other financial service providers  17  . Overexposure in a\ncategory that is prone to large losses, lack of liquidity or overly aggressive\ncapital market sales and trading has significant potential negative\nconsequences for an institution, its clients, and the consumer. To that point,\nstudies have shown that diverse teams process information more carefully, are\nmore likely to remain objective and consistently reexamine facts, encourage\ngreater scrutiny of the actions of others and become more aware of entrenched\nways of thinking which may otherwise lead to errors in the decision making\nprocess.  18  Additionally, research has shown that gender diverse corporate\nboards are more likely to make efficient investments and avoid risky\noverinvestments.  19  Further, female board representation has been found to\nlead to better investment policies, acquisition decisions, and overall firm\nperformance, by balancing CEO overconfidence.  20  Overall, studies show that\nfemale board representation improves strategic decision making and improves\nthe overall performance of a firm.  21\n\n**Larger Talent Pool and More Satisfied Employees**\n\nDiverse work environments are likely to increase employee job satisfaction and\ncommitment to their employer, and are associated with reduced instances of\ninterpersonal aggression and discrimination.  22  Further, companies with\nhigher levels of gender diversity who also have HR policies and practices\nwhich focus on gender diversity are linked to lower levels of employee\nturnover.  23\n\nOne of the opportunities presented by the upheaval associated with the\nCOVID-19 pandemic has been the forced shift to remote work for considerable\nsegments of the workforce. This has prompted many organizations to rethink how\nthey view remote work, with 93% of companies surveyed by McKinsey saying that\nmore jobs can be performed remotely than these companies had estimated pre-\npandemic.  24  The increasing prevalence of remote work opportunities presents\ncompanies with the opportunity to reach a larger and more diverse talent pool,\nwith 70% of companies in that same survey reporting that they believed the\nshift to remote work will allow them to increase diversity in their hiring.\n25\n\n##  Diversity in the Financial Services Industry\n\nAvailable research on the diversity of boards and senior management in the\nfinancial services industry shows that despite the many admirable efforts\nundertaken and commitments made by the industry to this point, there is still\nmuch work to be done to increase diversity.\n\nThe Committee for Better Banks issued a report in March of 2021 which examined\nissues related to race in the workplace at some of the largest US retail\nbanks.  26  Their review found that minority employees are broadly\nunderrepresented in the finance/insurance industry generally, and are\noverrepresented in lower employment levels compared to their white peers.  27\nFurther, the report found that Black and Latino employees had a less than 25%\nchance of being promoted or hired for a senior management/executive position\ncompared to their white peers.  28\n\nIn 2019, the House Financial Services Committee conducted an analysis of bank\ndiversity data and found that among banks reporting demographic information,\nfemales made up less than one-third of their executive and senior level\nworkforce  29  despite representing 51% of the US population.  30  The report\nalso found that bank boards were 11% Black, 5% Latino and 3% Asian; in\ncontrast these groups comprise 13%, 18.5% and 6% of the US population,\nrespectively.  31\n\nFemale participation in the cryptocurrency community is very low. The\npercentage of women in the sector, including developers, investors, and\ninterested individuals, usually hovers between 4% and 6%. Data from 2020 shows\nthat Bitcoin community engagement by gender reached 86% male and 14% female,\nrepresenting a small upturn in female representation.  32  Of the 378 venture-\nbacked cryptocurrency and Blockchain companies founded around the world\nbetween 2012 and 2018, 92% had a founding team that was entirely male. By\ncomparison, 82% of all technology companies started in that period had all\nmale founders.  33  Additionally, a report from Forbes detailing the richest\npeople in cryptocurrency included 19 people, all of whom were white or East\nAsian men.  34\n\nA recent McKinsey report noted that as of 2018 the proportion of people of\ncolor in financial services drops 75% from entry-level positions to the\nC-suite. Specifically, Black, Hispanic, and Asian employees occupied 10%, 9%\nand 17% of entry level roles, but only 3%, 2% and 6% of C-suite positions,\nrespectively.  35  A 2018 study of 71 banks across 20 countries found that\nwhile women comprised an average of 52% of the banking industry\u2019s workforce,\nthey faced a \u201cdouble glass ceiling\u201d when moving up the organizational\nhierarchy; with the first ceiling falling at the middle management level and\nthe second manifesting at the executive level.  36  Of the banks surveyed,\nonly 38% of middle managers were female, and 16.5% of executive management was\nfemale.  37\n\n##  Investor and Government Actions\n\nIncreasingly, investors and governments are taking action to advance diversity\nin senior management and the board room.\n\nCongress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act\nof 2010 which required all covered agencies, including federal financial\nservices regulators, to create an Office of Minority and Women Inclusion\n(OMWI) which is responsible for all agency matters related to diversity in\nmanagement, employment and business activities.  38  Each OMWI was then\ndirected to develop standards to assess diversity policies and practices of\ntheir regulated entities and report to Congress annually on its own progress\non diversity and inclusion, along with the data it received from its regulated\nentities.  39\n\nIn 2015, the Office of the Comptroller of the Currency (OCC), Board of\nGovernors of the Federal Reserve System (Board), Federal Deposit Insurance\nCorporation (FDIC), National Credit Union Administration (NCUA), Consumer\nFinancial Protection Bureau (CFPB), and Securities and Exchange Commission\n(SEC) issued their final interagency policy statement which established joint\nstandards for assessing the diversity policies and practices of their\nregulated entities.  40  This action, which was required by the Dodd-Frank\nAct, provided a framework for regulated entities to create and strengthen\ntheir diversity policies and practices, including their organizational\ncommitment to diversity, workforce and employment practices, procurement,\nbusiness practices and transparency around organizational diversity and\ninclusion within their US operations.  41\n\nEarly last year, the House Committee on Financial Services held a hearing on\ndiversity and inclusion at America\u2019s largest banks  42  , including a review\nof a report issued by the Committee titled Diversity and Inclusion: Holding\nAmerica\u2019s Largest Banks Accountable.  43  During the hearing, the committee\nnoted the lack of board and senior management diversity and recommended that\nCongress consider taking legislative action to improve diversity and inclusion\nin banking institutions, including the disclosure of diversity data to\nregulators and the public and publicly disclosing their board diversity.  44\nCalifornia has enacted legislation requiring publicly held corporations whose\nprincipal offices are located in California to have at least one woman on\ntheir board by the end of 2019  45  , and at least one director who is\nracially, ethnically or otherwise diverse by the end of 2021.  46\n\nThe Biden Administration has made its commitment to diversity clear. Allison\nHerren Lee, as Acting SEC Chair, suggested that the agency should strengthen\nits guidance on board diversity and revisit disclosure requirements for public\ncompanies;  47  and it has been reported that SEC Chair Gary Gensler may be in\nfavor of corporate disclosures regarding boardroom diversity.  48\n\nOutside of the US, European nations including Belgium, France, Italy and\nNorway enacted statutory gender quotas with strict non-compliance penalties\nyears ago, aimed at increasing the representation of women in the senior\nleadership of their largest publicly held companies.  49< In 2020, Canada\nbegan requiring corporations governed by the Canada Business Corporations Act\nwith publicly-traded securities to disclose information to their shareholders\non the diversity of their boards and senior management teams.  50  The Central\nBank of Ireland articulated ways in which it could use its supervisory\nauthority to address diversity in the boardroom and in senior management,\nincluding assessing whether a firm is actively promoting diversity and\ninclusion throughout its organization and reviewing governance codes and\nrequirements to clearly community expectations regarding diversity policies.\n51\n\nGiven the business case for diversity, equity and inclusion, investors both at\nhome and abroad have begun to leverage their influence to promote DEI efforts.\n\nIn 2017, State Street Global Advisors announced that it will vote against the\nchair of a board\u2019s nominating and/or governance committee if a company fails\nto take action to increase the number of women on its board  52  and\nreaffirmed that commitment in 2020, again stating they are prepared to use\ntheir proxy voting authority to hold organizations accountable for meeting\ntheir expectations related to diversity, equity, and inclusion.  53\n\nSimilarly in 2017, BlackRock voted against board members at five companies who\nsat on nominating committees but failed to respond to investors\u2019 concerns\nsurrounding diversity.  54  In 2020, BlackRock again articulated that they\nwill use their voting power to help drive increased boardroom diversity.  55\nVanguard has announced it will advocate for increased diversity on boards, and\nwill review the progress companies make on increasing diversity on their\nboards through their voting activities; specifically noting that progress on\ndiversity will inform their voting calculation in the years to come.  56\n\nInternationally, Legal & General Investment Management (LGIM), the largest\nfund manager in the United Kingdom, informed S&P 500 companies in the US in\nlate 2020 that it expects their boardrooms to include at least one Black,\nAsian or other ethnic minority by January 2022 and will vote against the re-\nelection of board/nomination committee chairs who fail to meet this target.\n57  Moreover, Goldman Sachs announced in February of 2020 that the firm will\nonly underwrite the IPOs of private companies in the US and Europe who have at\nleast one diverse board member, with that target increasing to two diverse\nboard members by the end of 2021.  58\n\n##  DFS Expectations for New York Regulated Banking Institutions and Regulated\nNon-Depository Financial Institutions\n\nConsidering the reasons detailed in this industry letter, DFS expects\nRegulated Banking Institutions and Regulated Non-Depository Financial\nInstitutions to make the diversity of their leadership a business priority and\nintegrate it into their corporate governance. Regulated Banking Institutions\nand Regulated Non-Depository Financial Institutions should also pay close\nattention to their talent pipeline of future diverse leaders, in addition to\nthe diversity of their affiliates. The greater the diversity an organization\nhas within its talent pipeline, the better positioned it will be to diversify\nits senior management and boards. All such regulated institutions should view\ndiversity like other strategic priorities, including communicating its\nimportance to all stakeholders, providing a plan for how it will be achieved\nand explaining that plan, setting measurable goals and tracking progress\ntoward those goals.\n\nDFS has reviewed and evaluated several regulatory approaches to advance DEI in\nthe banking and financial services industry, including imposing quotas and the\naggregation and disclosure of diversity data on a firm by firm basis. DFS has\nalso engaged in numerous informal conversations with financial institutions,\ntrade groups and DEI experts to ascertain the industry\u2019s commitment to\nincreasing its diversity, along with the challenges faced by financial\ninstitutions in their efforts to realize their commitments. I would like to\nacknowledge the contributions of the members of New York State\u2019s Committee for\nthe Advancement of Women in Leadership in Financial Services for their\ninsightful and valuable input through this process.\n\nAfter conducting in depth research and engaging in conversations with\nstakeholders, we have determined that the best way for DFS to support\nRegulated Banking Institutions and Regulated Non-Depository Financial\nInstitutions\u2019 DEI efforts is by collecting and publishing data related to the\ndiversity of corporate boards and management. In order to set goals and\nmeasure progress, data collection is key. Making this information public will\nallow firms to assess where they stand relative to their peers, and it is our\nhope, raise the bar for the entire industry. Transparency and accountability\nare driving forces for change.\n\nSuccessful diversity, equity and inclusion programs are a process of continual\nimprovement, not a destination where the correct number of boxes have been\nchecked. This requires commitment from every level of the organization to be\nsuccessful, starting at the top. Firms should aim to have a board and\nmanagement team that benefit from a wide diversity of skills, experiences, and\nperspectives, including those based on gender, race or ethnicity; not simply\naim to have one or two diverse board members. To be clear, one or two diverse\nboard members is better than none, but that is insufficient, particularly for\na large board, and is not the goal. DFS understands that not every institution\nis starting from the same place in terms of the diversity of their workforce\nand leadership. Each company should conduct a self-assessment on where it\nstands, where it wants to go, and develop a plan on how to get there, taking\ninto consideration its size and other relevant factors, with a focus on\nimprovement over time.\n\nTo start, DFS will be sending out a survey to collect data regarding the\ngender, racial and ethnic makeup of New York Regulated Banking Institutions\nand Regulated Non-Depository Financial Institution\u2019s boards or equivalent and\nmanagement as of December 31, 2019 and 2020, including information about board\ntenure and key board and senior management roles, from all Regulated Banking\nInstitutions with more than $100 million in assets, and all Regulated Non-\nDepository Financial Institutions with more than $100 million in gross revenue\nand from all entities authorized to engage in virtual currency business\nactivity, including virtual currency licensees (\u201cBitLicensees\u201d) and virtual\ncurrency trust companies.\n\nWe plan to collect this data over the late summer and publish the results on\nan aggregate basis in the first quarter of 2022, categorized by the type of\ninstitution and other relevant factors We strongly encourage companies to\npublicly disclose the composition and diversity of their boards and management\nas a constituent part of their DEI commitment to their stakeholders. DFS will\nconsider collecting and disclosing similar information in the future,\nincluding on a more granular basis, considering any other data collection and\ndisclosure requirements that may be imposed on the banking and financial\nservices industry.\n\n##  Conclusion\n\nFurther diversifying the leadership and workforce of the banking and financial\nservices industry is a business and corporate governance imperative which will\nstrengthen the industry, increase innovation, and provide resiliency. This\nprocess is one of continual evolution and improvement, not simply an exercise\nin box checking, and small changes now will lead to big improvements in the\nfuture. We applaud the companies who have already taken meaningful steps to\npromote diversity within their organization, and we look forward to supporting\nthose who are embarking on this work for the first time now. In response to\nfeedback from industry participants, DFS will organize a webinar focused on\nDEI best practices and addressing specific issues that companies have\nencountered in their diversity efforts.\n\nPlease direct questions regarding this industry letter to [ [email protected]\n](/cdn-cgi/l/email-protection#672506090c0e090023222e2703011449091e49000811) .\n\nSincerely,\n\nLinda A. Lacewell\n\nSuperintendent of Financial Services\n\n* * *\n\n[*]  This letter is addressed to New York State banking institutions,\nincluding New York chartered banks, credit unions and New York licensed\nbranches and agencies of foreign banking organizations (collectively\n\u201cRegulated Banking Institutions\u201d), as well as New York regulated mortgage\nbanks, mortgage servicers, mortgage brokers, money transmitters, check\ncashers, licensed lenders, sales finance companies, premium finance agencies,\nlimited purpose trust companies and virtual currency companies (collectively,\n\u201cRegulated Non-Depository Financial Institutions\u201d). We note that DFS has\nissued a similar [ letter ](/industry_guidance/circular_letters/cl2021_05) to\nall New York State domestic and foreign insurance companies dated March 16,\n2021.\n\n* * *\n\n**References:**\n\n[1]  New York Bankers Association, (2020), History in Real Time Virtual\nSpeaker Series, Retrieved from: [ NYBA.com\n](https://www.nyba.com/NYBA/Events/Major_Meetings_and_Conferences/VirtualSpeakerSeries.aspx?WebsiteKey=2605c623-d0d9-46ae-\nbb77-90782c2d9b4c)\n\n[2]  Conference of State Bank Supervisors, (March 2021), 53 Teams Enter CSBS\nCommunity Bank Case Study Competition, Retrieved from: [ CSBS.org\n](https://www.csbs.org/newsroom/53-teams-enter-csbs-community-bank-case-study-\ncompetition)\n\n[3]  American Bankers Association, (2021), Diversity, Equity & Inclusion,\nRetrieved from: [ Aba.com ](https://www.aba.com/banking-\ntopics/operations/diversity-equity-inclusion)\n\n[4]  New York Bankers Association, (October, 2019), Women in Leadership\nConference, Retrieved from: [ NYBA.com\n](https://www.nyba.com/NYBA/Events/Major_Meetings_and_Conferences/Women_Program.aspx?WebsiteKey=2605c623-d0d9-46ae-\nbb77-90782c2d9b4c)\n\n[5]  Dixon-Fyle, S, Dolan, K, Hunt, V, Prince, S, (May 2020), Diversity wins:\nHow inclusion matters, Retrieved from: [ McKinsey.com\n](https://www.mckinsey.com/featured-insights/diversity-and-\ninclusion/diversity-wins-how-inclusion-matters)\n\n[6]  [ Ibid ](https://www.mckinsey.com/featured-insights/diversity-and-\ninclusion/diversity-wins-how-inclusion-matters)\n\n[7]  Ibid\n\n[8]  Catalyst. (June 24, 2020). Why Diversity and Inclusion Matter: Financial\nPerformance (Appendix), Retrieved from: [ Catalyst.org\n](https://www.catalyst.org/research/why-diversity-and-inclusion-matter-\nfinancial-performance/)\n\n[9]  Hunt, V., Layton, D., and Prince, S. (January 2015), Why diversity\nmatters, Retrieved from: [ McKinsey.com ](https://www.mckinsey.com/business-\nfunctions/organization/our-insights/why-diversity-matters)\n\n[10]  Rogish A., Sandler, S., Shemluck, N., (July 2020), Diversifying the path\nto CEO in financial services, Retrieved from: Deloitte.com\n\n[11]  Vespa, J., et al. (Issued March 2018, Revised February 2020).\nDemographic Turning Points for the United States: Population Projections for\n2020 to 2060. United States Census Bureau, p. 7. Retrieved from: [ census.gov\n](https://www.census.gov/content/dam/Census/library/publications/2020/demo/p25-1144.pdf)\n\n[12]  Clempner, J., et al. (2019). Women in Financial Services 2020. Oliver\nWyman, p. 19. Retrieved from: [ oliverwyman.com\n](https://www.oliverwyman.com/content/dam/oliver-\nwyman/v2/publications/2019/November/Women-In-Financial-Services-2020.pdf)\n\n[13]  Ibid\n\n[14]  Catalyst. (June 24, 2020). Why Diversity and Inclusion Matter: Quick\nTake. Retrieved from: [ Catalyst.org ](https://www.catalyst.org/research/why-\ndiversity-and-inclusion-matter/)\n\n[15]  Lorenzo, R., et al. (January 23, 2018). How Diverse Leadership Teams\nBoost Innovation. BCG Henderson Institute. Retrieved from: [ Boston Consulting\nGroup Henderson Institute ](https://www.bcg.com/en-us/publications/2018/how-\ndiverse-leadership-teams-boost-innovation)\n\n[16]  Ibid\n\n[17]  Corporate Finance Institute, (2021), Major Risks for Banks, Retrieved\nfrom: [ Corporatefinanceinstute.com\n](https://corporatefinanceinstitute.com/resources/knowledge/finance/major-\nrisks-for-banks/)\n\n[18]  Rock, D., et al. (November 4, 2016). Why Diverse Teams Are Smarter.\nHarvard Business Review. Retrieved from: [ Harvard Business Review\n](https://hbr.org/2016/11/why-diverse-teams-are-smarter)\n\n[19]  Catalyst. (June 24, 2020). Why Diversity and Inclusion Matter: Quick\nTake. Retrieved from: [ Catalyst.org ](https://www.catalyst.org/research/why-\ndiversity-and-inclusion-matter/)\n\n[20]  Ibid\n\n[21]  Chen, J., Leung W., Song, W., Goergen, M., (September 2019), Research:\nWhen Women Are On Boards, Male CEOs Are Less Overconfident, Retrieved from: [\nHarvard Business Review ](https://hbr.org/2019/09/research-when-women-are-on-\nboards-male-ceos-are-less-overconfident)\n\n[22]  Catalyst. (June 24, 2020). Why Diversity and Inclusion Matter: Quick\nTake. Retrieved from: [ Catalyst.org ](https://www.catalyst.org/research/why-\ndiversity-and-inclusion-matter/)\n\n[23]  Ibid\n\n[24]  Thomas, R., et al. (2020). Women in the Workplace 2020. McKinsey &\nCompany and LeanIn.Org, p. 51. Retrieved from: [ McKinsey.com\n](https://www.mckinsey.com/featured-insights/diversity-and-inclusion/women-in-\nthe-workplace)\n\n[25]  Ibid\n\n[26]  Weiner, N., Munoz, H., (March 2021), Advancing Racial Justice for\nFrontline Bank Workers, Retrieved from: [ bankaccountability.org\n](https://cwa-union.org/news/releases/new-report-black-latino-workers-face-\ntough-odds-of-getting-higher-paid-positions)\n\n[27]  Ibid\n\n[28]  Robinson, A., (April 2021), The push to diversify banking from within\nthe industry, Retrieved from: [ ABC News\n](https://abcnews.go.com/Business/push-diversify-banking-\nindustry/story?id=76568426)\n\n[29]  United States House of Representatives Committee on Financial Services,\n(2020), Diversity and Inclusion: Holding America\u2019s Large Banks Accountable,\nRetrieved from: U.S. House of Representatives Committee on Financial Services\n\n[30]  United States Census Bureau. (2019). Quick Facts: United States.\nRetrieved from: [ census.gov\n](https://www.census.gov/quickfacts/fact/table/US/LFE046219)\n\n[31]  Ibid\n\n[32]  Coindance, (2020), Bitcoin Community Engagement by Gender, Retrieved\nfrom: [ Coindance ](https://coin.dance/stats/gender)\n\n[33]  Hao, K., (2018), The first rule of being a woman in crypto is you do not\ntalk about being a woman in crypto, Retrieved from: [ Quartz\n](https://qz.com/1262167/the-first-rule-of-being-a-woman-in-crypto-is-you-do-\nnot-talk-about-being-a-woman-in-crypto/)\n\n[34]  Dozier, R., (2019), Black Blockchain Meet-up Addresses Lack of Diversity\nin Crypto, Retrieved from: [ Breakermag ](https://www.forbes.com/richest-in-\ncryptocurrency/#b2f1b601d496)\n\n[35]  Diaz, A. et. Al., (September 2020), Racial Equity in Financial Services,\nRetrieved from: [ McKinsey.com\n](https://www.mckinsey.com/industries/financial-services/our-insights/racial-\nequity-in-financial-services)\n\n[36]  Manning, J., (July 2019), Achieving Diversity and Inclusion in the\nBanking Sector: A Work in Progress, Retrieved from: [ International Banker\n](https://internationalbanker.com/banking/achieving-diversity-and-inclusion-\nin-the-banking-sector-a-work-in-progress/)\n\n[37]  Ibid\n\n[38]  United States Congress (2010), Dodd-Frank Wall Street Reform and\nConsumer Protection Act, Retrieved from: [ Congress.gov\n](https://www.congress.gov/111/plaws/publ203/PLAW-111publ203.pdf)\n\n[39]  Federal Register, (2015), Final Interagency Policy Statement\nEstablishing Joint Standards for Assessing the Diversity Policies and\nPractices of Entities Regulated by the Agencies, Retrieved from: [ The Federal\nRegister\n](https://www.federalregister.gov/documents/2015/06/10/2015-14126/final-\ninteragency-policy-statement-establishing-joint-standards-for-assessing-the-\ndiversity-policies)\n\n[40]  Ibid\n\n[41]  Ibid\n\n[42]  Wright, M., (October 2020), Why diversity and inclusion matters to\nregulators, Retrieved from: [ Independent\n](https://independentbanker.org/2020/10/why-diversity-and-inclusion-matters-\nto-regulators/) Banker\n\n[43]  United States House of Representatives Committee on Financial Services,\n(2020), Diversity and Inclusion: Holding America\u2019s Large Banks Accountable,\nRetrieved from: U.S. House of Representatives Committee on Financial Services\n\n[44]  Ibid\n\n[45]  State of California. (2020). Women on Boards. Retrieved from: [\nsos.ca.gov ](https://www.sos.ca.gov/business-programs/women-boards/)\n\n[46]  Steele, A. (October 1, 2020). California Rolls Out Diversity Quotas for\nCorporate Boards. The Wall Street Journal. Retrieved from: [ The Wall Street\nJournal ](https://www.wsj.com/articles/california-rolls-out-diversity-quotas-\nfor-corporate-boards-11601507471)\n\n[47]  Reuters. (February 25, 2021). U.S. SEC should revisit disclosure\nrequirements on diversity \u2013 acting chair. Retrieved from: [ reuters.com\n](https://www.reuters.com/article/us-usa-sec-diversity/u-s-sec-should-revisit-\ndisclosure-requirements-on-diversity-acting-chair-idUKKBN2AP2T2)\n\n[48]  Sorkin, A., et al. (January 13, 2021). Potential Priorities for Wall\nStreet\u2019s Next Top Cop. Retrieved from: [ The New York Times DealBook\n](https://www.nytimes.com/2021/01/13/business/dealbook/gary-gensler-sec.html)\n\n[49]  Arndt, P., et al. (2019). Gender quotas in a European comparison: Tough\nsanctions most effective. DIW Weekly Report, pp. 339-41. Retrieved from: [\ndiw.de\n](https://www.diw.de/de/diw_01.c.678694.de/publikationen/weekly_reports/2019_38_1/gender_quotas_in_a_european_comparison__tough_sanctions_most_effective.html)\n\n[50]  Government of Canada. (2021). Diversity of boards of directors and\nsenior management. Retrieved from: [ ic.gc.ca\n](https://www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/cs08316.html)\n\n[51]  Manning, J., (July 2019), Achieving Diversity and Inclusion in the\nBanking Sector: A Work in Progress, Retrieved from: [ International Banker\n](https://internationalbanker.com/banking/achieving-diversity-and-inclusion-\nin-the-banking-sector-a-work-in-progress/)\n\n[52]  State Street. (March 7, 2017). State Street Global Advisors Calls on\n3,500 Companies Representing More Than $30 Trillion in Market Capitalization\nto Increase Number of Women on Corporate Boards [Press Release]. Retrieved\nfrom: StateStreet.com\n\n[53]  Lacaille, R., (August 2020), Diversity Strategy, Goals & Disclosure: Our\nExpectations for Public Companies, Retrieved from: State Street Global\nAdvisors\n\n[54]  Hunnicutt, T. (July 13, 2017). BlackRock supports effort to boost number\nof women board members. Reuters. Retrieved from: [ Reuters\n](https://www.reuters.com/article/us-blackrock-women/blackrock-supports-\neffort-to-boost-number-of-women-board-members-idUSKBN19Z09C)\n\n[55]  BlackRock, (March 2020), BlackRock Releases 2020 Stewardship Priorities\nfor Engaging with Public Companies, Retrieved from: [ BlackRock\n](https://www.blackrock.com/corporate/newsroom/press-\nreleases/article/corporate-one/press-releases/stewardship-priorities)\n\n[56]  Vanguard Investments, (2019), Vanguard Investment Stewardship\nPerspectives, Board Diversity, Retrieved from [ Vanguard\n](https://about.vanguard.com/investment-stewardship/perspectives-and-\ncommentary/persp_board_diversity.pdf)\n\n[57]  Makortoff, K., (October 2020), Legal & General warns FTSE 100 firms over\nlack of ethnic diversity, Retrieved from: [ The Guardian\n](https://www.theguardian.com/business/2020/oct/05/legal-and-general-warns-\nftse-100-firms-lack-of-ethnic-diversity-bame-board-member-2022)\n\n[58]  Goldman Sachs. (February 4, 2020). Goldman Sachs\u2019 Commitment to Board\nDiversity. Retrieved from: [ goldmansachs.com\n](https://www.goldmansachs.com/our-commitments/diversity-and-inclusion/board-\ndiversity/)\n\nWho We Supervise\n\nInstitutions That We Supervise\n\nThe Department of Financial Services supervises many different types of\ninstitutions. Supervision by DFS may entail chartering, licensing,\nregistration requirements, examination, and more.\n\n[ Learn More ](/who_we_supervise)\n\nDepartment of Financial Services\n\n[ Department of Financial Services ](/ \"Home\")\n\n",
                "url": "https://www.dfs.ny.gov/industry_guidance/industry_letters/il20210729_diversity_equity_incl_corpgov"
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            "reason": "This is an official industry letter from the New York State Department of Financial Services regarding diversity, equity, and inclusion in corporate governance, making it a highly reliable source.",
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            "summary": "Official industry letter from the New York State Department of Financial Services.",
            "url": "https://www.dfs.ny.gov/industry_guidance/industry_letters/il20210729_diversity_equity_incl_corpgov"
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                    "source": "https://www.manulife.com/en/investors/investor-day.html"
                },
                "page_content": "Confirm\n\nSkip to main content  Skip to notification content  [ __ ](/ \"Manulife Logo\")\n\nBack\n\n###  Are you looking for:\n\n[ __ Manulife forms  Manulife forms\n](https://www.manulife.ca/personal/support/find-a-form.html)\n\n[ __ Job opportunities  Job opportunities\n](https://manulife.wd3.myworkdayjobs.com/MFCJH_Jobs)\n\n[ __ Our global sites  Our global sites  ](/en/markets.html)\n\n#  Investor Day 2024\n\n##  June 25 to 27, 2024\n\n####  Manulife hosted an Investor Day in Hong Kong and Jakarta from June 25 to\n27, 2024\n\n#####  During this three-day event, senior management showcased Manulife\u2019s\nrecord of successful execution of our strategy, highlighted our transformation\nand spoke to our right to win. Discussions showed how Manulife is uniquely\npositioned to achieve our financial targets and reinforced the attractive\nopportunities and strong momentum across our global businesses.\n\n[ ** View press release  ** ](/en/news/manulife-hosts-investor-day-2024.html\n\"investor day press release\")\n\n[ Watch webcast here ](https://www.gowebcasting.com/13368)\n\n##  Live Webcast for Investor Day 2024\n\n[ Watch webcast here ](https://www.gowebcasting.com/13368)\n\n##  Presentations and Panel Discussions\n\n####  Day One: Tuesday June 25 in Hong Kong\n\n######  Session\n\n|\n\n######  Presenter\n\n|\n\n######  Slides\n\n|\n\n######  Recording\n\n|\n\n######  Transcript  \n  \n---|---|---|---|---  \n  \n######  CEO presentation\n\n|  [ Roy Gori  ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=2 \"Roy Gori bio\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_CEO.pdf \"CEO presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UdiQAr1EbW0o \"Roy Gori presentation recording\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_ECT.pdf \"Day 1 transcript\")   \n  \n  \n######  CFO presentation\n\n|  **** [ Colin Simpson ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=3 \"Colin Simpson bio\") ** ** |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_CFO.pdf \"CFO presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/Uko2wyNbcVCq \"CFO presentation recording\")  \n  \n######  **** Q&A panel: Enterprise strategy and pathway to raising the bar  **\n**\n\n|  **** [ Roy Gori ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=2 \"Roy Gori bio\") , [ Colin Simpson ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=3 \"Colin Simpson bio\") , [ Marc Costantini ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=4 \"Marc Costantini bio\") ** ** |  [ n ](http://www.google.ca/ \"Roy Gori presentation slides \\(pdf\\)\") /a  |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/USu9VYrT0nPE \"Enterprise strategy presentation recording\")  \n  \n######  **** Global WAM presentation  \n** **\n\n|  **** [ Paul Lorentz ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=5 \"Paul Lorentz bio\") ** ** |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_GWAM.pdf \"Global WAM presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UpcV08GBx573 \"Global WAM presentation recording\")  \n  \n######  **** Q&A panel: Global WAM  \n** **\n\n|  **** [ Paul Lorentz ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=5 \"Paul Lorentz bio\") , [ Michael Dommermuth ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=6 \"Michael Dommermuth bio\") , [ Aimee DeCamillo ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=7 \"Aimee DeCamillo\") ** ** |  n/a  |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/U9Xq3e6SnFHj \"Global WAM panel recording\")  \n  \n######  **** Asia presentation  \n** **\n\n|  **** [ Phil Witherington ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=8 \"Phil Witherington bio\") ** ** |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_ASIA.pdf \"Asia presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/U0Y8J4ErwzQl \"Asia presentation recording\")  \n  \n######  **** Global High-Net-Worth presentation  \n** **\n\n|  **** [ Jean Wong ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=9 \"Jean Wong bio\") ** ** |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_GHNW.pdf \"GHNW presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UklattqcNjoL \"Global HNW presentation recording\")  \n  \n######  **** Asia markets showcase: Singapore, Vietnam and Other Emerging\nMarkets  ** **\n\n|  **** [ Kah Siang Khoo ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=10 \"Kah Siang Khoo bio\") , [ Venice Chan ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=11 \"Venice Chan bio\") , [ Sachin N. Shah ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=12 \"Sachin Shah bio\") ** ** |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_SG.pdf \"Singapore presentation slides \\(pdf\\)\")   \n[ ](/content/dam/corporate/global/en/documents/investor-relations/investor-\nday/MFC_ID2024_VN.pdf \"Vietnam presentation slides \\(pdf\\)\")  \n[ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_OEM.pdf \"Other Emerging Markets presentation slides \\(pdf\\)\") |  n/a   \n  \n######  **** Q&A panel: Asia  ** **\n\n|  **** [ Phil Witherington ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=8 \"Phil Witherington bio\") , [ Jean Wong ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=9 \"Jean Wong bio\") , [ Kah Siang Khoo ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=10 \"Kah Siang Khoo bio\") , [ Venice Chan ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=11 \"Venice Chan bio\") , [ Sachin N. Shah ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=12 \"Sachin Shah bio\") ** ** |  n/a  |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UHLlXja3Zi4A \"Asia panel recording\")  \n  \n####  **Day Two: Wednesday June 26 in Hong Kong**  \n\n######  Session\n\n|\n\n######  Presenter\n\n|\n\n######  Slides\n\n|\n\n######  Recording\n\n|\n\n######  Transcript  \n  \n---|---|---|---|---  \n  \n######  Asia markets showcase: Hong  Kong\n\n|  [ Patrick Graham ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=13 \"Patrick Graham bio\") , [ Calvin Chiu ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=14 \"Calvin Chiu bio\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_HK.pdf \"HK presentation slides \\(pdf\\)\") |  n/a  |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_ECT2.pdf \"transcript day 2\")  \n  \n######  Fireside chat with CEO, DBS Group\n\n|  [ Roy Gori ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=2 \"Roy Gori bio\") , [ Piyush Gupta (DBS) ](https://www.dbs.com/Bod/gmc-piyush-gupta?pid=sg-group-pweb-about-cardtiles-leadership-gmc-piyush-gupta \"Piyush Gupta bio\") |  n/a  |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/U5hrs5nMHz9v \"Fireside chat recording\")  \n  \n######  Digital Customer Leadership (DCL) presentation & Generative AI lab\n\n|  [ Karen Leggett ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=15 \"Karen Leggett bio\") , [ Jodie Wallis ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=16 \"Jodie Wallis bio\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_DCL.pdf \"DCL & AI presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UfEUYM4Wiozx \"DCL & AI recording\")  \n  \n######  Canada presentation\n\n|  [ Naveed Irshad ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=17 \"Naveed Irshad bio\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_CAN.pdf \"Canada presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/Url72jkmb4MQ \"Canada recording\")  \n  \n######  U.S. presentation\n\n|  [ Brooks Tingle ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=18 \"Brooks Tingle bio\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_US.pdf \"US presentation slides \\(pdf\\)\") |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UJKyOZSKu0db \"US recording\")  \n  \n######  Q&A panel: Canada, U.S., and enterprise DCL strategy\n\n|  [ Roy Gori ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=2 \"Roy Gori bio\") , [ Karen Leggett ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=15 \"Karen Leggett bio\") , [ Naveed Irshad ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=17 \"Naveed Irshad bio\") , [ Brooks Tingle ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=18 \"Brooks Tingle bio\") |  n/a  |  [ ](https://embed.ustudio.com/embed/Dzn7GJzL8VdF/UQtswsqpYOYS \"Q&A panel Canada/US/DCL recording\")  \n  \n####  **Day Three: Thursday June 27 in Jakarta**  \n\n[ ](http://www.google.ca/ \"Roy Gori presentation recording\") |  [ ](http://www.google.ca/ \"Roy Gori presentation slides \\(pdf\\)\") |  [ ](http://www.google.ca/ \"Roy Gori presentation transcript \\(pdf\\)\")  \n---|---|---  \n  \n######  Session\n\n|\n\n######  Presenter\n\n|\n\n######  Slides\n\n|\n\n######  Recording\n\n|\n\n######  Transcript  \n  \n---|---|---|---|---  \n  \n######  Asia markets showcase: Indonesia\n\n|  [ Ryan Charland ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=19 \"Ryan Charland bio\") , [ Afifa ](/content/dam/corporate/global/en/documents/investor-relations/investor-day-bios-2024.pdf#page=20 \"Afifa Afifa bio\") |  [ ](/content/dam/corporate/global/en/documents/investor-relations/investor-day/MFC_ID2024_IND.pdf \"Indonesia presentation slides \\(pdf\\)\") |  n/a  |  n/a   \n  \n##  Presenter Biographies\n\n######  Roy Gori, President & CEO\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=2 \"Roy Gori bio\")\n\n######  Colin Simpson, CFO\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=3 \"Colin Simpson bio\")\n\n######  Marc Costantini, Global Head of Strategy & Inforce Management\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=4 \"Marc Costantini bio\")\n\n######  Paul Lorentz, President & CEO, Global Wealth & Asset Management\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=5 \"Paul Lorentz bio\")\n\n######  Michael Dommermuth, Head of Asia Wealth & Asset Management [\n](/content/dam/corporate/global/en/documents/investor-relations/investor-day-\nbios-2024.pdf#page=5 \"Michael Dommermuth bio\")\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=6 \"Michael Dommermuth bio\")\n\n######  Aimee DeCamillo, Head of Retirement, Global Wealth & Asset Management\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=7 \"Aimee DeCamillo bio\")\n\n######  Phil Witherington, President & CEO, Manulife Asia\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=8 \"Phil Witherington bio\")\n\n######  Jean Wong, CEO, Global High-Net-Worth\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=9 \"Jean Wong bio\")\n\n######  Kah Siang Khoo, CEO, Singapore\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=10 \"Kah Siang Khoo bio\")\n\n######  Venice Chan, Chief Strategy & Transformation Officer, Vietnam\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=11 \"Venice Chan bio\")\n\n######  Sachin N. Shah, General Manager Emerging Markets, Asia\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=12 \"Sachin N Shah bio\")\n\n######  Patrick Graham, CEO Hong Kong & Macau\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=13 \"Patrick Graham bio\")\n\n######  Calvin Chiu, Head of Retirement, Asia Wealth & Asset Management\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=14 \"Calvin Chiu bio\")\n\n######  Karen Leggett, Chief Marketing Officer\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=15 \"Karen Leggett bio\")\n\n######  Jodie Wallis, Chief Analytics Officer\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=16 \"Jodie Wallis bio\")\n\n######  Naveed Irshad, President & CEO, Manulife Canada\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=17 \"Naveed Irshad bio\")\n\n######  Brooks Tingle, President & CEO, John Hancock\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=18 \"Brooks Tingle bio\")\n\n######  Ryan Charland, President Director & CEO, Indonesia\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=19 \"Ryan Charland bio\")\n\n######  Afifa, President Director & CEO, Indonesia Wealth & Asset Management\n\n[ Read bio  ](/content/dam/corporate/global/en/documents/investor-\nrelations/investor-day-bios-2024.pdf#page=20 \"Afifa Afifa bio\")\n\n##  **Media & IR Contacts **\n\n#####  Media Contact\n\nCh  eryl Holmes  \nManulife  \n416-557-0945  \n[ cheryl_holmes@manulife.com ](mailto:cheryl_holmes@manulife.com \"media\ncontact\")\n\n#####  Investor Relations  \n\nHung Ko  \nManulife  \n416-806-9921  \n[ hung_ko@manulife.com ](mailto:hung_ko@manulife.com \"Investor contact\")\n\n######  QUICK LINKS\n\n[ Results and reports ](https://www.manulife.com/en/investors/results-and-\nreports.html \"results and reports\")\n\n[ Shareholder Services ](/en/investors/shareholder-services.html \"shareholder\nservices\")\n\n[ Career Opportunities ](https://careers.manulife.com/global/en \"career\nopportunities\")\n\n[ Past Presentations ](/en/investors/presentations.html \"past presentations\")\n\n######  QUICK LINKS\n\n  * [ Results and reports  ](/en/investors/results-and-reports.html)\n  * [ Shareholder services  ](/en/investors/shareholder-services.html)\n  * [ Career opportunities  ](https://manulife.wd3.myworkdayjobs.com/en-US/MFCJH_Jobs)\n  * [ Past events  ](/en/investors/presentations.html)\n\nInvestor Day 2024 | Manulife \n\n  * [ Results and reports  ](/en/investors/results-and-reports.html)\n  * [ Shareholder services  ](/en/investors/shareholder-services.html)\n  * [ Career opportunities  ](https://manulife.wd3.myworkdayjobs.com/en-US/MFCJH_Jobs)\n  * [ Past events  ](/en/investors/presentations.html)\n\n[ Privacy policy ](/en/privacy-policy.html \"Privacy policy\")  \n\n[ Legal ](/en/legal.html)\n\n[ Investments ](http://www.manulifeam.com/ \"Manulife Investments\")  \n\n[ Global High-Net-Worth ](/en/manulife-global-high-net-worth.html)\n\n[ Accessibility ](https://www.manulife.ca/about-us/accessibility.html\n\"Accessibility Manulife Canada\")  \n\n[ Manulife Re ](/en/manulife-re.html)  \n\n[ Fraud Prevention Centre ](/en/fraud-prevention-centre.html)  \n\n[ Supplier Diversity ](/en/supplier-diversity.html \"supplier diversity\")\n\n\u00a9 The Manufacturers Life Insurance Company\n\n[ Global ](/en/markets.html \"Regional Manulife pages\")\n\nFollow us on:\n\n[ Facebook ](https://www.facebook.com/Manulife \"Manulife Facebook\") | [ Instagram ](https://instagram.com/manulife/ \"Manulife Instagram\") | [ LinkedIn ](https://www.linkedin.com/company/manulife-financial \"Manulife LinkedIn\") | [ Youtube ](https://www.youtube.com/user/ManulifeFinancial \"Manulife Youtube\")\n\n",
                "url": "https://www.manulife.com/en/investors/investor-day.html"
            },
            "reason": "This is the official investor relations page of Manulife, a financial services company. It provides information on their corporate governance and investor relations, including diversity and inclusion initiatives. The information is directly from the company, making it a reliable source for their investor relations efforts.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' governance diversity inclusion",
            "summary": "Official investor relations page of Manulife.",
            "url": "https://www.manulife.com/en/investors/investor-day.html"
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                    "source": "https://business.kaiserpermanente.org/engagement/kp-plus"
                },
                "page_content": "You need to enable JavaScript to run this app.\n\n",
                "url": "https://business.kaiserpermanente.org/engagement/kp-plus"
            },
            "reason": "This is a page from Kaiser Permanente, a well-known healthcare provider, detailing their KP Plus program focused on employee engagement and well-being. The information is likely reliable, though potentially presented with a slight positive bias.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' employee well-being",
            "summary": "This is a page from Kaiser Permanente, a well-known healthcare provider, detailing their KP Plus program focused on employee engagement and well-being. The information is likely reliable, though potentially presented with a slight positive bias.",
            "url": "https://business.kaiserpermanente.org/engagement/kp-plus"
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                    "resource_type": "webpage",
                    "source": "https://academic.oup.com/joh/article/66/1/uiae005/7591974"
                },
                "page_content": "Enable JavaScript and cookies to continue\n\n",
                "url": "https://academic.oup.com/joh/article/66/1/uiae005/7591974"
            },
            "reason": "This is an academic article published in the Journal of Occupational Health by Oxford University Press. It is a peer-reviewed source and therefore highly reliable.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' employee well-being",
            "summary": "This is an academic article published in the Journal of Occupational Health by Oxford University Press. It is a peer-reviewed source and therefore highly reliable.",
            "url": "https://academic.oup.com/joh/article/66/1/uiae005/7591974"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "31ebb495-8d4e-4050-8331-effa1d526120",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://growjo.com/company/Breathe_Well-being"
                },
                "page_content": "  * Overview \n  * Revenue & Valuation \n  * Competitors \n  * What Is Breathe Well-being ? \n  * Employee Data \n  * News \n  * \n\n#  Breathe Well-being Revenue and Competitors\n\n[ License our Company Data API ](/company_data_api)\n\n[ ](//breathewellbeing.in)\n\n####\n\n[ Gurugram ](/city/Gurugram) , IND\n\nLocation\n\n####  N/A\n\nTotal Funding\n\n####  [ Health ](/industry/Health)\n\nIndustry\n\n##  Estimated Revenue & Valuation\n\n  * Breathe Well-being 's estimated annual revenue is currently $35.3M per year.  [ (i) ](/join)\n  * Breathe Well-being 's estimated revenue per employee is $ 148,500 \n\n##  Employee Data\n\n  * Breathe Well-being has 238 Employees.  [ (i) ](/join)\n  * Breathe Well-being grew their employee count by 23% last year. \n\n##  Breathe Well-being 's People\n\nName  |  Title  |  Email/Phone   \n---|---|---  \n1  [ Kshitiz Sethi ](/employee/Kshitiz-Sethi-17801682) |  Chief Staff  |  [ Reveal Email/Phone ](/employee/Kshitiz-Sethi-17801682)  \n2  [ Chandan Singh ](/employee/Chandan-Singh-17801670) |  VP Organic Growth  |  [ Reveal Email/Phone ](/employee/Chandan-Singh-17801670)  \n3  [ Seema Goel ](/employee/Seema-Goel-17801677) |  Head Coach  |  [ Reveal Email/Phone ](/employee/Seema-Goel-17801677)  \n4  [ Praveen Sharma ](/employee/Praveen-Sharma-17801685) |  AVP - Technology  |  [ Reveal Email/Phone ](/employee/Praveen-Sharma-17801685)  \n5  [ Hira Junaid ](/employee/Hira-Junaid-17801669) |  Corporate Sales Manager  |  [ Reveal Email/Phone ](/employee/Hira-Junaid-17801669)  \n6  [ SHAURYA RAJPUT ](/employee/SHAURYA-RAJPUT-17801683) |  Program Manager - Repeat Revenue  |  [ Reveal Email/Phone ](/employee/SHAURYA-RAJPUT-17801683)  \n7  [ Parushi Goel ](/employee/Parushi-Goel-24342378) |  Team Lead  |  [ Reveal Email/Phone ](/employee/Parushi-Goel-24342378)  \n8  [ Moumita Kundu ](/employee/Moumita-Kundu-17801671) |  Associate  |  [ Reveal Email/Phone ](/employee/Moumita-Kundu-17801671)  \n9  [ Aditi Saini ](/employee/Aditi-Saini-17801672) |  Team Lead  |  [ Reveal Email/Phone ](/employee/Aditi-Saini-17801672)  \n10  [ Prem Yadav ](/employee/Prem-Yadav-17801673) |  Team Leader ( health coach)  |  [ Reveal Email/Phone ](/employee/Prem-Yadav-17801673)  \n  \n##  Breathe Well-being Competitors & Alternatives [ Add Company ](/add-your-\ncompany)\n\nCompetitor Name  |  Revenue  |  Number of Employees  |  Employee Growth  |  Total Funding  |  Valuation   \n---|---|---|---|---|---  \n# 1  [ ](//justforhearts.org) [ Just for Hearts ](/company/Just_for_Hearts) |  $10.8M  |  80  |  -1%  |  N/A  |  N/A   \n# 2  [ ](//genes2me.com) [ Genes2me ](/company/Genes2me) |  $17.1M  |  127  |  3%  |  N/A  |  N/A   \n# 3  [ ](//vhealth.io) [ vHealth by Aetn... ](/company/vHealth_by_Aetna) |  $16.3M  |  121  |  10%  |  N/A  |  N/A   \n# 4  [ ](//elawoman.com) [ Elawoman ](/company/Elawoman) |  $2.6M  |  27  |  -13%  |  $3M  |  N/A   \n# 5  [ ](//truworthwellness.com) [ Truworth Wellne... ](/company/Truworth_Wellness) |  $17.8M  |  132  |  10%  |  N/A  |  N/A   \n# 6  [ ](//salaambombay.org) [ Salaam Bombay F... ](/company/Salaam_Bombay_Foundation) |  $18.4M  |  136  |  11%  |  N/A  |  N/A   \n# 7  [ ](//bblunt.com) [ BBLUNT ](/company/BBLUNT) |  $29.1M  |  196  |  0%  |  N/A  |  N/A   \n# 8  [ ](//swasth.org) [ Swasth Foundati... ](/company/Swasth_Foundation) |  $6.4M  |  53  |  6%  |  N/A  |  N/A   \n# 9  [ ](//mickeymehta.com) [ Dr.Mickey Mehta... ](/company/Dr.Mickey_Mehta's_360_Degree_Wellness_Temple_Private_Limited) |  $14M  |  104  |  5%  |  N/A  |  N/A   \n# 10  [ ](//scientimed.com) [ Scientimed Solu... ](/company/Scientimed_Solutions_Private_Limited) |  $6.2M  |  51  |  0%  |  N/A  |  N/A   \n[ Add Company ](/add-your-company)\n\n[ Show More Health Companies ](/industry/Health)\n\n##  What Is Breathe Well-being ?\n\nFounded in 2015 by ex-management consultants from Accenture and McKinsey- we\nhelp organisations increase employee engagement, productivity, retention and\ndecrease healthcare costs. Today, we are India's No.1 holistic employee\nengagement and well-being program- and we are currently active in 65+ cities\nand 6 countries. What makes us unique is our ability to bring together the\npower of technology and human empathy to deliver measurable impact in our\ncustomers' lives. We use a combination of world-class coaches, nutrition\nexperts, a gamified platform, and integrate our platform with your rewards and\nrecognition- to create customised employee well-being and engagement programs\nfor your organisation. The program revolves around cutting edge solutions in\nphysical, mental and emotional well-being that unleash the true potential of\nyour employees. Some of the marquee corporates in the country such as Cipla,\nLuminous, Corning, and XL Catlin amongst others have also benefited from our\nemployee engagement and wellness programs. Whenever you think fitness,\nnutrition, mindfulness programs, and counselling for mental health- think\nBreathe Well-being.\n\n**keywords:** N/A  \n\nN/A\n\nTotal Funding\n\n238\n\nNumber of Employees\n\n$35.3M\n\nRevenue (est)\n\n23%\n\nEmployee Growth %\n\nN/A\n\nValuation\n\nN/A\n\nAccelerator\n\n##  Breathe Well-being News\n\n2022-04-20  \\- [ Unlock the Potential of Your Breath\n](https://www.einnews.com/pr_news/569571812/unlock-the-potential-of-your-\nbreath)\n\nMeditation teacher, author and founder of the popular wellness app, Heavily\nMeditated, Caitlin Cady is now launching the Breathe Well Course...\n\n2022-04-20  \\- [ Pranayama Yoga Is The Key To Perfect Health | Femina.in ](https://www.femina.in/wellness/health/pranayama-yoga-is-the-key-to-perfect-health-224879.html&ved=2ahUKEwjqgP-tuqn3AhWDilwKHQfjD0MQxfQBegQIBxAC&usg=AOvVaw1DcfJ09gLDqQQcOguxXRTV)\n\nHow can I practice Pranayama yoga? 3. Natural breathing 4. Basic abdominal\nbreathing 5. Thoracic breathing 6. Clavicular breathing 7. Yogic...\n\n2022-04-06  \\- [ How to Breathe for Better Health (Plus 4 Breathing Techniques\nTo ... ](https://www.forksoverknives.com/wellness/breathe-better-health-plus-\nfour-breathing-techniques/&ved=2ahUKEwjqgP-\ntuqn3AhWDilwKHQfjD0MQxfQBegQICRAC&usg=AOvVaw3KLpBnQTh2rdRiNA6mPFah)\n\nApart from mouth breathing, most people shortchange the health benefits of the\nbreath by not fully using the diaphragm to inflate the belly...\n\n##  Other Companies in Gurugram\n\n[ ](/export_list)\n\nCompany Name  |  Revenue  |  Number of Employees  |  Employee Growth  |  Total Funding   \n---|---|---|---|---  \n# 1  [ ](//etmoney.com) [ ETMONEY ](/company/ETMONEY) |  $56.6M  |  245  |  -2%  |  N/A   \n# 2  [ ](//tutorbin.com) [ TutorBin ](/company/TutorBin) |  $22.3M  |  246  |  5%  |  N/A   \n# 3  [ ](//metvy.com) [ Metvy ](/company/Metvy) |  $41.6M  |  247  |  20%  |  N/A   \n# 4  [ ](//swissbeauty.in) [ Swiss Beauty ](/company/Swiss_Beauty) |  $58.4M  |  250  |  19%  |  N/A   \n# 5  [ ](//hikeeducation.com) [ Hike Education ](/company/Hike_Education) |  N/A  |  254  |  28%  |  N/A   \n  \n\u00c2\u00a9 2025 Growjo  \nAll right reserved\n\n###  Cities\n\n[ Atlanta ](/city/Atlanta) [ Austin ](/city/Austin) [ Baltimore\n](/city/Baltimore) [ Bangalore ](/city/Bangalore) [ Berlin ](/city/Berlin) [\nBoston ](/city/Boston) [ Boulder ](/city/Boulder) [ Charlotte\n](/city/Charlotte) [ Chicago ](/city/Chicago) [ Cleveland ](/city/Cleveland) [\nDallas ](/city/Dallas) [ Denver ](/city/Denver) [ Detroit ](/city/Detroit) [\nDublin ](/city/Dublin) [ East Bay ](/city/East_Bay) [ Houston ](/city/Houston)\n[ Jacksonville ](/city/Jacksonville) [ Kansas City ](/city/Kansas_City) [ Las\nVegas ](/city/Las_Vegas) [ London ](/city/London) [ Los Angeles\n](/city/Los_Angeles) [ Miami ](/city/Miami) [ Minneapolis ](/city/Minneapolis)\n[ Nashville ](/city/Nashville) [ New York City ](/city/New_York_City) [ Orange\nCounty ](/city/Orange_County) [ Orlando ](/city/Orlando) [ Paris\n](/city/Paris) [ Philadelphia ](/city/Philadelphia) [ Phoenix ](/city/Phoenix)\n[ Pittsburgh ](/city/Pittsburgh) [ Portland ](/city/Portland) [ Raleigh Durham\n](/city/Raleigh_Durham) [ Salt Lake City ](/city/Salt_Lake_City) [ San Antonio\n](/city/San_Antonio) [ San Diego ](/city/San_Diego) [ San Francisco\n](/city/San_Francisco) [ Santa Barbara ](/city/Santa_Barbara) [ Seattle\n](/city/Seattle) [ Silicon Valley ](/city/Silicon_Valley) [ Singapore\n](/city/Singapore) [ St Louis ](/city/St_Louis) [ Stockholm ](/city/Stockholm)\n[ Sydney ](/city/Sydney) [ Tampa ](/city/Tampa) [ Tel Aviv ](/city/Tel_Aviv) [\nToronto ](/city/Toronto) [ Vancouver ](/city/Vancouver) [ Washington DC\n](/city/Washington_DC)\n\n###  States\n\n[ AZ ](/state/AZ) [ CA ](/state/CA) [ CO ](/state/CO) [ FL ](/state/FL) [ GA\n](/state/GA) [ ID ](/state/ID) [ IL ](/state/IL) [ MA ](/state/MA) [ MI\n](/state/MI) [ MN ](/state/MN) [ NY ](/state/NY) [ OH ](/state/OH) [ OR\n](/state/OR) [ PA ](/state/PA) [ TN ](/state/TN) [ TX ](/state/TX) [ UT\n](/state/UT) [ WA ](/state/WA)\n\n###  Industries\n\n[ AdTech ](/industry/AdTech) [ Analytics ](/industry/Analytics) [ BioTech\n](/industry/BioTech) [ Cannabis ](/industry/Cannabis) [ DevOps\n](/industry/DevOps) [ Digital Health ](/industry/Digital_Health) [ EdTech\n](/industry/EdTech) [ Fintech ](/industry/Fintech) [ Martech\n](/industry/Martech) [ Real Estate ](/industry/Real_Estate) [ Tech Services\n](/industry/Tech_Services)\n\n###  Growjo\n\n[ Directory ](/directory) [ What is ZoomInfo? ](/what-is-zoominfo) [ Best\nSales Lead Database ](https://www.lead411.com/blog/best-database-for-sales-\nleads-in-2023) [ Terms & conditions ](/terms) [ Privacy Policy ](/privacy) [\nDo Not Sell ](/do_not) [ Contact Us ](/contact) [ About our Data\n](/about_our_data)\n\n",
                "url": "https://growjo.com/company/Breathe_Well-being"
            },
            "reason": "Growjo provides information on company growth and other data points. While not a primary source, it aggregates data and provides insights into Breathe Well-being, making it moderately reliable.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' employee well-being",
            "summary": "Growjo provides information on company growth and other data points. While not a primary source, it aggregates data and provides insights into Breathe Well-being, making it moderately reliable.",
            "url": "https://growjo.com/company/Breathe_Well-being"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "f42942da-c5dc-4ed8-a492-7b901e07a055",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7892612/"
                },
                "page_content": "Skip to main content\n\n**Official websites use .gov**  \nA **.gov** website belongs to an official government organization in the\nUnited States.\n\n**Secure .gov websites use HTTPS**  \nA **lock** (  ) or **https://** means you've safely connected to the .gov\nwebsite. Share sensitive information only on official, secure websites.\n\n[ ](/ \"Home\")\n\n  * [ Advanced Search ](https://www.ncbi.nlm.nih.gov/pmc/advanced/)\n  * [ Journal List ](/journals/)\n  * [ User Guide ](/about/userguide/)\n\n  *   * [ ](https://doi.org/10.3389/fpubh.2021.614725 \"View on publisher site\")\n  * [ ](pdf/fpubh-09-614725.pdf \"Download PDF\")\n  *   *   * ##  PERMALINK \n\nAs a library, NLM provides access to scientific literature. Inclusion in an\nNLM database does not imply endorsement of, or agreement with, the contents by\nNLM or the National Institutes of Health.  \nLearn more: [ PMC Disclaimer ](/about/disclaimer/) | [ PMC Copyright Notice ](/about/copyright/)\n\n. 2021 Feb 5;9:614725. doi: [ 10.3389/fpubh.2021.614725\n](https://doi.org/10.3389/fpubh.2021.614725)\n\n#  A Comparison of Safety, Health, and Well-Being Risk Factors Across Five\nOccupational Samples\n\n[ Ginger C Hanson\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Hanson%20GC%22%5BAuthor%5D)\n\n###  Ginger C Hanson\n\n1  School of Nursing, Johns Hopkins University, Baltimore, MD, United States\n\nFind articles by [ Ginger C Hanson\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Hanson%20GC%22%5BAuthor%5D)\n\n1,  *  , [ Anjali Rameshbabu\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Rameshbabu%20A%22%5BAuthor%5D)\n\n###  Anjali Rameshbabu\n\n2  Oregon Healthy Workforce Center, Oregon Institute of Occupational Health\nSciences, Oregon Health & Science University, Portland, OR, United States\n\nFind articles by [ Anjali Rameshbabu\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Rameshbabu%20A%22%5BAuthor%5D)\n\n2  , [ Todd E Bodner\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Bodner%20TE%22%5BAuthor%5D)\n\n###  Todd E Bodner\n\n3  OHSU-PSU School of Public Health, Portland State University, Portland, OR,\nUnited States\n\nFind articles by [ Todd E Bodner\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Bodner%20TE%22%5BAuthor%5D)\n\n3  , [ Leslie B Hammer\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Hammer%20LB%22%5BAuthor%5D)\n\n###  Leslie B Hammer\n\n2  Oregon Healthy Workforce Center, Oregon Institute of Occupational Health\nSciences, Oregon Health & Science University, Portland, OR, United States\n\nFind articles by [ Leslie B Hammer\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Hammer%20LB%22%5BAuthor%5D)\n\n2  , [ Diane S Rohlman\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Rohlman%20DS%22%5BAuthor%5D)\n\n###  Diane S Rohlman\n\n4  Occupational and Environmental Health, University of Iowa, Iowa City, IA,\nUnited States\n\nFind articles by [ Diane S Rohlman\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Rohlman%20DS%22%5BAuthor%5D)\n\n4  , [ Ryan Olson\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Olson%20R%22%5BAuthor%5D)\n\n###  Ryan Olson\n\n2  Oregon Healthy Workforce Center, Oregon Institute of Occupational Health\nSciences, Oregon Health & Science University, Portland, OR, United States\n\nFind articles by [ Ryan Olson\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Olson%20R%22%5BAuthor%5D)\n\n2  , [ Brad Wipfli\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Wipfli%20B%22%5BAuthor%5D)\n\n###  Brad Wipfli\n\n3  OHSU-PSU School of Public Health, Portland State University, Portland, OR,\nUnited States\n\nFind articles by [ Brad Wipfli\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Wipfli%20B%22%5BAuthor%5D)\n\n3  , [ Kerry Kuehl\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Kuehl%20K%22%5BAuthor%5D)\n\n###  Kerry Kuehl\n\n5  School of Medicine, Oregon Health & Science University, Portland, OR,\nUnited States\n\nFind articles by [ Kerry Kuehl\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Kuehl%20K%22%5BAuthor%5D)\n\n5  , [ Nancy A Perrin\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Perrin%20NA%22%5BAuthor%5D)\n\n###  Nancy A Perrin\n\n1  School of Nursing, Johns Hopkins University, Baltimore, MD, United States\n\nFind articles by [ Nancy A Perrin\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Perrin%20NA%22%5BAuthor%5D)\n\n1  , [ Lindsey Alley\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Alley%20L%22%5BAuthor%5D)\n\n###  Lindsey Alley\n\n2  Oregon Healthy Workforce Center, Oregon Institute of Occupational Health\nSciences, Oregon Health & Science University, Portland, OR, United States\n\nFind articles by [ Lindsey Alley\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Alley%20L%22%5BAuthor%5D)\n\n2  , [ Allison Schue\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Schue%20A%22%5BAuthor%5D)\n\n###  Allison Schue\n\n6  College of Osteopathic Medicine, Western University of Health Sciences,\nLebanon, OR, United States\n\nFind articles by [ Allison Schue\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Schue%20A%22%5BAuthor%5D)\n\n6  , [ Sharon V Thompson\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Thompson%20SV%22%5BAuthor%5D)\n\n###  Sharon V Thompson\n\n7  Division of Nutritional Sciences, University of Illinois at Urbana-\nChampaign, Urbana, IL, United States\n\nFind articles by [ Sharon V Thompson\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Thompson%20SV%22%5BAuthor%5D)\n\n7  , [ Megan Parish\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Parish%20M%22%5BAuthor%5D)\n\n###  Megan Parish\n\n8  Confluence Health, Wenatchee, WA, United States\n\nFind articles by [ Megan Parish\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Parish%20M%22%5BAuthor%5D)\n\n8\n\n  *   *   * \n\n1  School of Nursing, Johns Hopkins University, Baltimore, MD, United States\n\n2  Oregon Healthy Workforce Center, Oregon Institute of Occupational Health\nSciences, Oregon Health & Science University, Portland, OR, United States\n\n3  OHSU-PSU School of Public Health, Portland State University, Portland, OR,\nUnited States\n\n4  Occupational and Environmental Health, University of Iowa, Iowa City, IA,\nUnited States\n\n5  School of Medicine, Oregon Health & Science University, Portland, OR,\nUnited States\n\n6  College of Osteopathic Medicine, Western University of Health Sciences,\nLebanon, OR, United States\n\n7  Division of Nutritional Sciences, University of Illinois at Urbana-\nChampaign, Urbana, IL, United States\n\n8  Confluence Health, Wenatchee, WA, United States\n\nEdited by: Caterina Ledda, University of Catania, Italy\n\nReviewed by: Yuke Tien Fong, Singapore General Hospital, Singapore; Angela\nStufano, University of Bari Aldo Moro, Italy\n\n\u2709\n\n*Correspondence: Ginger C. Hanson  ghanson4@jhu.edu \n\nThis article was submitted to Occupational Health and Safety, a section of the\njournal Frontiers in Public Health\n\nReceived 2020 Oct 6; Accepted 2021 Jan 6; Collection date 2021.\n\nCopyright \u00a9 2021 Hanson, Rameshbabu, Bodner, Hammer, Rohlman, Olson, Wipfli,\nKuehl, Perrin, Alley, Schue, Thompson and Parish.\n\nThis is an open-access article distributed under the terms of the Creative\nCommons Attribution License (CC BY). The use, distribution or reproduction in\nother forums is permitted, provided the original author(s) and the copyright\nowner(s) are credited and that the original publication in this journal is\ncited, in accordance with accepted academic practice. No use, distribution or\nreproduction is permitted which does not comply with these terms.\n\n[ PMC Copyright notice ](/about/copyright/)\n\nPMCID: PMC7892612 PMID: [ 33614583\n](https://pubmed.ncbi.nlm.nih.gov/33614583/)\n\n##  Abstract\n\n**Objective:** The aim of this study was to present safety, health and well-\nbeing profiles of workers within five occupations: call center work ( _N_ =\n139), corrections ( _N_ = 85), construction ( _N_ = 348), homecare ( _N_ =\n149), and parks and recreation ( _N_ = 178).\n\n**Methods:** Baseline data from the Data Repository of Oregon's Healthy\nWorkforce Center were used. Measures were compared with clinical healthcare\nguidelines and national norms.\n\n**Results:** The prevalence of health and safety risks for adults was as\nfollows: overweight (83.2%), high blood pressure (16.4%), injury causing lost\nwork (9.9%), and reported pain (47.0%). Young workers were least likely to\nreport adequate sleep (46.6%). Construction workers reported the highest rate\nof smoking (20.7%). All of the adult workers reported significantly lower\ngeneral health than the general population.\n\n**Conclusion:** The number of workers experiencing poor safety, health and\nwell-being outcomes suggest the need for improved working conditions.\n\n**Keywords:** health promotion, health behaviors, occupational safety, health,\nwell-being\n\n##  Introduction\n\nThere is growing awareness in the literature that providing a healthy labor\nforce requires integrated consideration of each workplace's impact on\nemployees' safety, health, and well-being (  1  ). This relationship between\nwork and well-being is further impacted by changing trends within the American\nworkforce as well as the nature of work. For example, there is a growing\nnumber of working older adults. It is estimated that by 2024, the employment\nrate of workers 65\u201374 years is projected to grow by 55% and that of workers 75\nyears and older is expected to grow by 86% (  2  ). Further, while physically\nhazardous jobs with high risk of injury and illness continue to exist, jobs\nthat increase the risk of chronic illness are becoming increasingly prevalent\nas employees remain inactive for long hours, experience high job stress and\nburnout, and face greater job insecurity and occupational health disparities.\n\nMoreover, the prevalence of preventable chronic health conditions across all\nage groups is increasing (  3  ). About 60% of the U.S. population suffers\nfrom at least one chronic health condition (  4  ), and healthcare costs\nassociated with these conditions account for 75% of healthcare spending (  5\n). Modifiable exposures and health risk factors such as stress, physical\ninactivity, and obesity account for ~26% of employer healthcare costs, at $761\nper employee (  6  ).\n\nOccupational injuries in the U.S. workforce continue to be a concern, with 3.2\ncases per 100 full-time workers in the private sector and 5.0 per 100 in the\npublic sector in 2014 (  7  ). Furthermore, there are bi-directional\ninteractions of safety and health. For example, workers with obesity who\nexperience workplace injuries experience 80.0% greater working time loss and\nincur 81.4% higher costs than workers without obesity (  8  ). Another example\ncan be found among commercial truck drivers, where drivers with untreated\nsleep apnea have a five-fold risk of a serious crash (  9  ). A holistic\nintervention approach that targets workplace safety, health, and worker well-\nbeing can curtail costs from largely preventable workplace injuries and\nchronic illnesses.\n\nTo this end, in 2011, the National Institute for Occupational Safety and\nHealth (NIOSH) launched _Total Worker Health_ \u00ae (TWH), an approach that\nrecognizes that work is a key determinant of one's health and well-being. This\napproach prioritizes a hazard-free work environment and emphasizes integrated\ninterventions that collectively target worker safety, health, and well-being.\nTWH is defined as policies, programs, and practices that integrate protection\nfrom work-related safety/health hazards with promotion of injury and illness\nprevention efforts to advance worker well-being (  10  ,  11  ). As part of\nthis effort, NIOSH funded the Total Worker Health Centers of Excellence (  12\n), one of which is the Oregon Healthy Workforce Center (OHWC) (  13  ).\n\nAn integrated effort first requires monitoring of the safety, health, and\nwell-being risk factors at employee and organizational levels; doing so will\nhelp us identify targets for change. At OHWC, we have created a repository of\ndata collected via a set of common measures used across multiple projects,\nwith the goal of comparing safety and health data of participants from various\nindustry sectors. This fairly novel approach has the potential to improve the\nquality and utility of occupational health research by facilitating stronger\ncomparisons across populations.\n\n###  Common Measures Approach vs. Meta-Analyses\n\nOccupational health meta-analyses have helped identify relationships between\nworkplace risk factors and employee health outcomes, including correlations\nbetween job strain and leisure-time physical inactivity (  14  ), and work\nstress and tobacco smoking (  15  ). Although such meta-analyses can be\npowerful, measuring the same construct using different survey items on\ndifferent scales of measurement, can add error to the conclusions. Meta-\nanalyses can overcome differences in measurement tools by using effect sizes\nthat serve as a standardized measure. Although this approach works well when\nexamining the relationship between different variables, it cannot be applied\nwhen comparing single-risk factors across different occupational groups. Using\nthe same measure across studies is a way to increase the precision of the\nmeasurement by reducing variability due to the way the survey items are\nmeasured.\n\nA common measures approach has multiple advantages. We can utilize the same\nmeasures across different study populations to benchmark comparisons of the\ndata. Further, given that there are 19,256 unique industry sectors in the U.S.\nworkforce (  16  ), standardizing the safety and health measures across\nsectors within occupational safety and health intervention studies allows us\nto test the effectiveness of program components within and between\npopulations. In turn, this will expedite the process of translating and\ndisseminating interventions to diverse work settings (  17  ). The goal to\nincrease standardization in measurement is consistent with NIH's funding to\ndevelop and promote PROMIS\u00ae, a set of standard measures that assess physical,\nsocial, and mental health among adults and children (  18  ).\n\n###  Comparing Common Outcomes Across Studies vs. Population-Based Studies\n\nMost studies examining health risks have focused on a specific occupational\nsetting or have used random sampling to estimate the overall population risk (\n19  \u2013  23  ). Although both of these methods make important contributions to\nunderstanding the relationship between work and health, both methods leave\nsome gaps. For example, general population studies typically include working\nand non-working individuals. Further, information about occupations may be\nlimited to broad categories such as white-collar vs. blue-collar occupations (\n22  ). All of the population-based studies we found were conducted among\nworking populations outside of the United States, often in European countries\nwhere governments sponsor recurring studies on working conditions (  15  ,  20\n,  21  ,  24  ). Generalizations to the U.S. are limited due to possible\ndifferences in national policies, work experiences, organizational culture,\npopulation health status, and occupational health risk factors. Moreover,\nlarge population studies are costly and are conducted only periodically. For\nexample, the European Working Conditions Surveys are collected every 5 years\nand focus on work-related exposures, not on the impact of work on individual\nhealth behaviors (  21  ).\n\nA common measures approach has unique strengths and weaknesses. It can be a\npowerful research strategy to surveil the safety and health of the workforce,\nmake comparisons between occupations, and inform intervention strategies that\nare best suited within and across workplace settings. A challenge of the\ncommon measures approach is that it can involve a high degree of coordination\nand buy-in from separate collaborators. However, the advantage is the ability\nto use individual data on the same scale of measurement to make direct\ncomparisons. This approach may be less expensive and resource-intensive than\nlarger population-based studies. The advantage of a less expensive approach is\nthat it can be done more frequently or fill in the gaps between costly\npopulation-based occupational groups. These \u201cgrass roots\u201d efforts can be\nespecially helpful in continuously monitor the safety and health of workers as\nthe nature of the work continues to evolve with changes in technology, shifts\nin economic policies, and other changing factors in the landscape of work.\n\nWe found one other study that uses this common measures approach: Community\nInterventions for Health (CIH)\u2014a collaboration that seeks to understand the\nimpact of health behavior interventions on health outcomes in developing\ncountries (  25  ). Each country agrees to use a core set of measures designed\nin a way that adds culturally relevant examples and appropriate items. This\napproach enables CIH to assemble large datasets from multiple countries and\nhighlight the relationships that are common across different countries (  26\n\u2013  28  ).\n\nThe OHWC Common Measures Data Repository currently includes data from five\nseparate studies, and we have compared the safety, health, and well-being\noutcomes of working populations across different occupations. OHWC presents\ncollective and unique profiles of these worker groups: call center workers,\ncorrections officers, construction workers, homecare workers, and parks and\nrecreation workers. Each work setting includes unique hazards and risk\nfactors, and physical and psychological demands (  29  ). For example,\nhomecare workers often receive little safety training or health benefits, work\nprimarily alone, and are responsible for lifting and moving their consumer-\nemployers multiple times per day (  30  \u2013  32  ). Construction workers also\nface considerable physical demands, but have a great deal more supervision and\nadhere to rigid schedules, making them particularly susceptible to issues\nregarding work-family conflicts and psychological stress (  33  ).\n\n##  Methods\n\n###  Measures\n\nBaseline data were gathered from five studies funded by NIOSH. A standardized\nset of measures was agreed upon prior to data collection for each study. From\nthis set, individual study teams selected the measures that best fit their\nneeds. Thus, not every sample reported data on every variable. For purposes of\nour study, we chose measures of safety (injuries), health [pain, body mass\nindex (BMI), blood pressure], health behaviors (smoking, sleep, exercise), and\nwell-being (health status) used by at least three of our studies. Where\npossible we computed these variables so that they could be compared with\nclinical healthcare recommendations or national norms. Additionally, biomarker\nassessment was conducted by a trained research assistant unless otherwise\nindicated.\n\n####  Injuries\n\nInjuries were measured with a single item: \u201cIn the last 6-months, if you had 1\nor more injuries at work that required you to miss work on following shifts,\nhow many total work days did you miss?\u201d Responses were coded 0 (No missed\ndays) or 1 (Yes, 1 or more missed days). The 6-month timeframe was chosen\nbecause research indicates that participant recollection of medical events are\nless accurate for 1-year than for 1-month (  34  ) however, injuries are rare\nand thus 1-month was not ideal. Given this 6-months seemed a reasonable\ncompromise between exposure and accuracy.\n\n####  Pain\n\nMusculoskeletal pain that interfered with normal activities was measured with\nfour items adapted from the Standardized Nordic Questionnaires for the\nAnalysis of Musculoskeletal Symptoms (  35  ). The items asked how often in\nthe last 3 months pain interfered with normal activities at work or at home.\nThe following body areas were included: neck/shoulder, lower back, wrist or\nforearm, and lower extremities. For the present study, participants were coded\nas 0 if they answered \u201cnot at all\u201d to all questions and 1 if they reported any\ninterference with work on any of the four items.\n\n####  Health Status\n\nHealth status was measured using the SF12v2, which contains 12 survey items\nmeasuring eight subscales: general health, physical functioning, role\nphysical, role emotional (i.e., ability to perform role-related\nresponsibilities due to emotional or physical health issues) bodily pain,\nmental health, vitality, and social functioning. The scale has been validated\nfor use in general U.S. populations, in 10 other countries, and in populations\nof individuals with a variety of health conditions. Extensive information\nabout the reliability and validity of the SF12v2 can be found in the SF12v2\ninstruction manual (  36  ). Scores were normed using means and standard\ndeviations from a representative sample of the general U.S. population\ndescribed in the Participants section of the present paper. Per instructions\nin the manual, _z_ -scores were computed by subtracting the provided mean for\neach subscale from the general U.S. sample and dividing by the provided\nstandard deviation for the subscale from the general U.S. sample. Following\nthe instructions in the manual _t_ -score transformations were computed by\nadding 50 and multiplying by 10. This facilitated a comparison to that\nnational representative sample with a mean of 50 and a standard deviation of\n10.\n\n####  BMI\n\nBMI and cut-offs for overweight and obesity were calculated based on CDC\nguidelines (  37  ). Participants were weighed with clothes on, pockets\nemptied, and no shoes, belts or heavy jewelry/watches, etc. For adults, BMI\nwas calculated using the standard formula: weight (kg)/height (m)  2  . For\nworkers under 18y, BMI was computed based on sex-specific age growth charts.\nFor both groups, individuals were coded as overweight if they had a BMI of\n25.0\u201329.9 and obese if they had a BMI of 30.0 or greater.\n\n####  Blood Pressure\n\nBlood pressure was taken after 3 min rest followed by 3 measurements, each 1\nmin apart; then we took the average of those three measurements. Blood\npressure cut-offs for pre-hypertension and hypertension were based on NIH\nNational Heart, Lung, and Blood Institute (NHLBI) recommendations (  38  ).\nCases were coded as pre-hypertensive if they had a systolic blood pressure of\n120\u2013139 mm Hg or a diastolic blood pressure of 80\u201389 mm Hg, and as\nhypertensive if they had a systolic blood pressure of \u2265140 or a diastolic\nblood pressure of \u226590 mm Hg. We did not inquire as to whether workers were\nparticipating in anti-hypertensive treatment at the time of data collection.\n\n####  Smoking\n\nParticipants were asked: \u201cIn the past 7 days, have you smoked any cigarettes?\u201d\nResponses were coded 0 (no) or 1 (yes). This is consistent with the U.S.\nDepartment of Health and Human Services' initiative to end the tobacco\nepidemic (  39  ).\n\n####  Sleep\n\nSleep was measured using two items from the Pittsburgh Sleep Quality Index (\n40  ) to compute time spent in bed. Minimum guidelines for sleep were adopted\nfrom the CDC (  41  ). Adults were coded as meeting the minimum guidelines if\nthey got at least 7 h of sleep; young workers were coded as meeting the\nminimum guideline if they got at least 9 h of sleep per night.\n\n####  Exercise\n\nFor all of the adult participants, exercise was coded as \u201cyes\u201d if the\nparticipant reported engaging in moderate or vigorous exercise for 30 min on 5\nor more days per week [per CDC recommendations (  42  )] and \u201cno\u201d if they did\nnot. In the young worker sample, participants were not asked about intensity\n(\u201cmoderate/vigorous\u201d).\n\n###  Participants\n\n####  Call Center Workers\n\nParticipants included 139 employees from two customer service call centers.\nThere are ~29,000 customer service employees in Oregon (  43  ). Employees\nwere recruited by study advertisements and completed all study activities\nduring work hours. Participants received a $25 gift card for completing the\nstudy. Data were collected in the summer through fall of 2015. All study\nprocedures were approved by Oregon Health & Science University (OHSU) IRB\n#0753.\n\n####  Correction Officers\n\nParticipants in the first study included 85 corrections officers from four\nOregon Department of Corrections institutions. Oregon employs ~2,300\ncorrection officers in 14 state prisons (  44  ). Prior to recruiting\nparticipants, permission was granted by the Superintendent of each\ninstitution. Participants were full-time security staff at the institutions.\nData were collected between June 2011 through May 2013. All study procedures\nwere reviewed and approved by OHSU IRB #7925.\n\n####  Construction Workers\n\nParticipants in the second study included 349 construction workers from two\npublic works agencies with a total of 520 construction workers, giving us a\nresponse rate of 67.12%. There are ~80,000 construction workers in Oregon (\n43  ). The results from the main study are published in the article cited here\n(  45  ). Data were collected on company time in the summer of 2012.\nParticipants were provided a $25 gift card for their participation. All study\nprocedures were reviewed and approved by Portland State University IRB\n#111884.\n\n####  Homecare Workers\n\nParticipants in the third study included 148 Oregon homecare workers recruited\nfrom the population of caregivers enrolled in a publicly funded home care\nsystem overseen by the Oregon Home Care Commission (  31  ). There were\n~12,000 homecare workers registered with the OHCC in the spring of 2013 when\nwe collected these data (  46  ). Within this system, caregivers work as\nindependent contractors and are hired directly by \u201cconsumer-employers\u201d who\nqualify for Medicaid-funded in-home services. With the assistance of the\nService Employees International Union SEIU and the Commission, workers were\nrecruited in-person at training classes, but also through emails, mailed\nfliers, and referrals. All study procedures were reviewed and approved by OHSU\nIRB #5473. The results of the main study are published in the article cited\nhere (  31  ).\n\n####  Parks and Recreation Workers\n\nIn the summer of 2013, we sent emails to 436 young workers (14\u201324 years of\nage) from a city parks and recreation department who were seasonal summer\nemployees. Throughout the results and discussion we refer to this sample of\n14\u201324 year olds as young workers and our other samples of workers aged 25 and\nolder as adult workers. Of those invited to participate 178 completed baseline\nsurveys, a response rate of 40.83%. Results from the main study are published\nin the article referenced here (  47  ). There are about 1,800 parks and\nrecreation workers in the state of Oregon (  43  ). Participants were\nrecruited during new hire orientation; parental consent letters were\ndistributed to minors. No biomarkers were assessed in this study. All study\nmaterials and procedures were approved by OHSU IRB #0753.\n\n####  U.S. General Population Norming Means and SD\n\nThe means and SD for norming the scores for comparison to the U.S. general\npopulation are in the SF12v2 scoring manual (  36  ). These data are from the\n1998 National Survey of Functional Health Status (NSFHS), conducted from\nOctober to December 1998 by the National Research Corporation (NRC). Surveys\nwere mailed to randomly selected members of the National Family Opinion (NFO)\npanel; 7,069 participants responded (overall response rate: 67.8%). The\npopulation contained both working and non-working adults. Sampling weights\nwere applied to adjust the sample to match the age, gender, and age-by-gender\ndistribution of the 1998 census.\n\n###  Analyses\n\nDescriptive statistics, frequencies, means, and standard deviations were\ncomputed to create profiles for these participating workers. One-sample _t_\n-tests were used to test whether the normed scores from our participants on\nthe SF-12 subscales were statistically different from a nationally\nrepresentative sample, with a mean of 50 for all subscales. Alpha was set at\n_p_ = 0.05 for a two-tailed test for determining statistical significance.\n\n##  Results\n\n###  Demographics and Work Characteristics\n\nA comparison of the demographics and work characteristics of the five samples\nin  Table 1  .\n\n####  Table 1.\n\nOHWC descriptive statistics, demographics, and work characteristics.\n\n|  **Call center workers** |  **Corrections officers** |  **Construction workers** |  **Homecare workers** |  **Parks and recreation workers**  \n---|---|---|---|---|---  \n|  **_N_ ** |  **M \u00b1 SD** |  **_N_ ** |  **M \u00b1 SD** |  **_N_ ** |  **M \u00b1 SD** |  **_N_ ** |  **M \u00b1 SD** |  **_N_ ** |  **M \u00b1 SD**  \nAge  |  139  |  38.26 \u00b1 10.47  |  83  |  42.66 \u00b1 10.05  |  347  |  44.48 \u00b1 9.56  |  148  |  51.70 \u00b1 13.19  |  178  |  17.98 \u00b1 2.24   \nHours/week  |  N/A  |  N/A  |  79  |  42.11 \u00b1 4.01  |  324  |  41.77 \u00b1 6.27  |  129  |  24.01 \u00b1 17.05  |  N/A  |  N/A   \n|  _**N** _ |  **%** |  _**N** _ |  **%** |  _**N** _ |  **%** |  _**N** _ |  **%** |  _**N** _ |  **%**  \nGender (male)  |  139  |  64.8%  |  84  |  75.0%  |  347  |  89.1%  |  142  |  7.7%  |  178  |  46.1%   \nRace  |  139  |  |  76  |  |  343  |  |  142  |  |  178  |   \nWhite  |  |  63.3%  |  |  85.5%  |  |  77.3%  |  |  83.8%  |  |  75.8%   \nBlack  |  |  11.5%  |  |  6.6%  |  |  6.7%  |  |  0.0%  |  |  4.5%   \nNative  |  |  3.6%  |  |  2.6%  |  |  2.6%  |  |  7.7%  |  |  2.2%   \nAmerican  |  |  |  |  |  |  |  |  |  |   \nAsian  |  |  2.2%  |  |  0.0%  |  |  2.6%  |  |  2.1%  |  |  6.7%   \nNative  |  |  2.2%  |  |  0.0%  |  |  0.3%  |  |  2.1%  |  |  0.0%   \nHawaiian/Pacific islander  |  |  |  |  |  |  |  |  |  |   \nMulti-racial  |  |  5.8%  |  |  2.6%  |  |  8.5%  |  |  4.2%  |  |  9.0%   \nOther  |  |  11.5%  |  |  2.6%  |  |  2.0%  |  |  0.0%  |  |  1.7%   \nHispanic  |  135  |  16.3%  |  77  |  6.5%  |  342  |  2.6%  |  132  |  6.1%  |  178  |  6.2%   \nEducation  |  N/A  |  N/A  |  79  |  |  346  |  |  145  |  |  178  |   \nLess than HS  |  |  |  |  0.0%  |  |  2.3%  |  |  1.4%  |  |  48.3%   \nHS/GED  |  |  |  |  20.3%  |  |  37.3%  |  |  33.1%  |  |  20.3%   \nSome college  |  |  |  |  64.6%  |  |  47.7%  |  |  40.0%  |  |  27.5%   \nBachelor's or > |  |  |  |  15.2%  |  |  12.7%  |  |  25.5%  |  |  3.9%   \nTenure  |  N/A  |  N/A  |  79  |  |  347  |  |  145  |  |  178  |   \n<1 year  |  |  |  |  0.0%  |  |  4.0%  |  |  11.7%  |  |  35.4%   \n1\u20133 years  |  |  |  |  20.3%  |  |  15.3%  |  |  30.3%  |  |  36.5%   \n>3 years  |  |  |  |  79.8%  |  |  80.7%  |  |  58.0%  |  |  28.0%   \n  \n[ Open in a new tab ](table/T1/)\n\n_For the purpose of this study, we define Hispanic as an individual who\nidentifies as being of Cuban, Puerto Rican, South or Central American, or\nother Spanish culture of origin regardless of race_ .\n\n###  Comparison Across Measures of Safety, Health, Health Behaviors, and Well-\nBeing\n\nTable 2  provides an overview of the safety and health profiles for all worker\nsamples. Ten percent of older adult workers (i.e., 65 and above; call center,\nconstruction, corrections, and homecare) reported work-related injuries that\nresulted in missed work during the past 6 months. Such injuries were highest\namong construction workers at 16.2%. Forty-seven percent of adult workers\nreported experiencing pain in the last 6 months that interfered with normal\nactivities. More than 70% of all participants were overweight or obese. In the\nyoung worker sample, just over 21% were overweight or obese. Conversely, 83.2%\nof older adult workers were overweight or obese. Among the adult participants,\n16.4% had high blood pressure (HBP) and 41.0% were pre-hypertensive.\nApproximately 15% of all workers reported smoking in the last week/month.\nSmoking was lowest among young workers employed by parks and recreation\ndepartment (4.5%) and highest among construction workers (20.7%).\nApproximately 60% of all workers reported getting sufficient sleep; as\nrecommended by NIH. Sleep sufficiency was lowest in the young worker sample\n(46.6%) for whom more sleep is recommended. Only 35% of the workers were\ngetting 150 min of moderate to vigorous physical activity per week as\nrecommended by the CDC. Young workers were more likely to meet exercise\nguidelines, yet even in this sample, just over 50% met the guidelines.\nPhysical activity was lowest among corrections officers and homecare workers,\nat just over 20%.\n\n####  Table 2.\n\nOHWC descriptive statistics for health, safety, well-being, and health\nbehaviors.\n\n|  **Call center workers** |  **Correction officers** |  **Constructions workers** |  **Homecare workers** |  **Parks and recreation workers** |  **Combined sample**  \n---|---|---|---|---|---|---  \n|  **_N_ ** |  **%** |  **_N_ ** |  **%** |  **_N_ ** |  **%** |  **_N_ ** |  **%** |  **_N_ ** |  **%** |  **_N_ ** |  **%**  \n**Safety**  \nWork injury that required lost work days  |  139  |  2.9%  |  79  |  5.1%  |  346  |  16.2%  |  147  |  4.1  |  N/A  |  N/A  |  572  |  9.9%   \nPain that interfered with normal activities  |  123  |  6.3%  |  79  |  44.3%  |  341  |  56.0%  |  148  |  61.6%  |  N/A  |  N/A  |  566  |  47.0%   \n**Health**  \nSmoking in past week  |  138  |  16.7%  a  |  79  |  12.7%  |  348  |  20.7%  |  147  |  16.3%  a  |  178  |  4.5%  |  752  |  15.4%   \nRecommended hours sleep (teens 9+ h; adults 7+ h)  |  139  |  79.3%  |  77  |  56.4%  |  339  |  60.2%  |  N/A  |  N/A  |  178  |  46.6%  |  594  |  60.1%   \nModerate/vigorous exercise for 30 min for 5 or more days per week  |  139  |  43.1%  |  79  |  21.5%  |  346  |  32.1%  |  145  |  22.8%  |  178  |  50.6%  b  |  748  |  35.1%   \nBMI  |  138  |  |  83  |  |  335  |  |  148  |  |  178  |  |  744  |   \nOverweight  |  |  15.9%  |  |  28.9%  |  |  31.3%  |  |  24.3%  |  |  13.5%  |  |  23.9%   \nObese  |  |  60.9%  |  |  63.9%  |  |  54.0%  |  |  54.7%  |  |  7.9%  |  |  46.8%   \nBlood Pressure  |  130  |  |  82  |  |  336  |  |  147  |  34.7%  |  N/A  |  N/A  |  565  |   \nPre-hypertension  |  |  33.8%  |  |  53.7%  |  |  51.2%  |  |  17.0%  |  |  |  |  41.0%   \nHypertension  |  |  10.0%  |  |  19.5%  |  |  25.3%  |  |  |  |  |  |  16.4%   \n|  _**N** _ |  **M \u00b1 SD** |  _**N** _ |  **M \u00b1 SD** |  _**N** _ |  **M \u00b1 SD** |  _**N** _ |  **M \u00b1 SD** |  _**N** _ |  **M \u00b1 SD** |  _**N** _ |  **M \u00b1 SD**  \n**SF-12**  \nGeneral health  |  N/A  |  N/A  |  79  |  41.14 \u00b1 10.13  ***  |  345  |  45.60 \u00b1 9.70  ***  |  147  |  44.36 \u00b1 10.25  ***  |  178  |  51.18 \u00b1 9.00  |  749  |  46.21 \u00b1 10.15  ***   \nPhysical functioning  |  N/A  |  N/A  |  78  |  52.61 \u00b1 6.44  **  |  343  |  53.09 \u00b1 6.98  ***  |  146  |  46.35 \u00b1 9.97  ***  |  178  |  53.47 \u00b1 7.37  ***  |  745  |  51.81 \u00b1 8.14  ***   \nRole physical  |  N/A  |  N/A  |  76  |  52.39 \u00b1 6.75  **  |  N/A  |  N/A  |  145  |  46.98 \u00b1 9.97  ***  |  178  |  54.33 \u00b1 5.47  ***  |  399  |  51.29 \u00b1 8.31  **   \nRole emotional  |  N/A  |  N/A  |  78  |  48.34 \u00b1 9.38  |  N/A  |  N/A  |  144  |  47.81 \u00b1 9.98  **  |  178  |  49.80 \u00b1 8.87  |  400  |  48.80 \u00b1 9.40  *   \nBodily Pain  |  N/A  |  N/A  |  79  |  49.19 \u00b1 9.80  |  348  |  46.14 \u00b1 11.16  ***  |  145  |  45.92 \u00b1 10.35  ***  |  178  |  53.95 \u00b1 6.32  ***  |  750  |  48.27 \u00b1 10.42  ***   \nMental health  |  N/A  |  N/A  |  79  |  46.25 \u00b1 10.33  **  |  344  |  47.94 \u00b1 10.10  ***  |  147  |  47.54 \u00b1 10.66  **  |  178  |  49.85 \u00b1 9.20  |  748  |  48.14 \u00b1 10.07  ***   \nVitality  |  N/A  |  N/A  |  79  |  48.13 \u00b1 9.32  |  344  |  50.15 \u00b1 9.23  |  147  |  48.64 \u00b1 10.79  |  178  |  52.50 \u00b1 8.50  ***  |  748  |  50.20 \u00b1 9.50   \nSocial functioning  |  N/A  |  N/A  |  79  |  46.34 \u00b1 11.49  **  |  344  |  49.23 \u00b1 10.09  |  147  |  47.43 \u00b1 10.26  **  |  178  |  50.61 \u00b1 8.00  |  748  |  48.90 \u00b1 9.90  **   \n  \n[ Open in a new tab ](table/T2/)\n\n_N in this table represent the number of participants in each sample who\nanswered each question. % in this table indicated the percent of participants\nwho answered in the affirmative out of those who answered the question for\neach sample_ .\n\na\n\n_Homecare workers and call center workers asked about smoking in the last\nmonth_ .\n\nb\n\n_Parks and recreation workers were not asked about the intensity of their\nexercise_ .\n\n_Scores for each of the sub-scales of the SF-12 were standardized using the\nmeans and SDs of the nationally representative sample and converted to\nt-scores to be comparable to the nationally representative sample with a mean\n= 50 and a SD = 10_ .\n\n***\n\np < 0.001 and\n\n**\n\n_p < 0.010 _ .\n\nOne-sample _t_ -tests indicated that construction workers and homecare workers\nreported being pain-free significantly less often than the U.S. general\npopulation ( _p_ < 0.001); young parks and recreation workers were\nsignificantly more pain free ( _p_ < 0.001). All four of the adult samples had\nsignificantly poorer general health ( _p_ < 0.001) than a nationally\nrepresentative sample. No evidence could be found that the general health of\nyoung workers was significantly different from that of a nationally\nrepresentative sample. The homecare workers, who were also our oldest sample,\nhad significantly poorer physical functioning than a nationally representative\nsample ( _p_ < 0.001). However, all of the other occupational samples had\nsignificantly better physical functioning ( _p_ < 0.010  all 4 samples  ).\nHomecare workers scored significantly lower than the nationally representative\nsample in both role physical and role emotional ( _p_ < 0.010); that is, they\nreported feeling limited in their ability to perform role-related\nresponsibilities due to emotional or physical health issues. The other worker\ngroups were significantly healthier than the U.S. general population on role\nfunctioning ( _p_ < 0.010), but not statistically different from the U.S.\ngeneral population on role emotional. All of our adult samples reported poorer\nmental health than the U.S. general population ( _p_ < 0.010). The parks and\nrecreations workers scored significantly higher on vitality than the US\ngeneral population ( _p_ < 0.001). We found no difference between any of the\nadult samples and the U.S. general population on vitality. Corrections\nofficers and homecare workers scored significantly lower than the general US\npopulation on social functioning ( _p_ < 0.010).\n\n##  Discussion\n\n###  Overview of Findings\n\nOur findings point to a workforce with both health and safety concerns. With\nregard to safety, 11% of adult workers reported work-related injuries that\nresulted in missed work and 47% were experiencing pain that interfered with\nnormal activities. Further, many workers in our studies are at risk for\nchronic health conditions. Over 70% of the overall sample was overweight or\nobese and 57% of older adult workers were hypertensive or pre-hypertensive.\nOur findings show that working populations such as those in our studies can\nbenefit from a Total Worker Health approach that targets factors that can\nimprove health, safety, health behaviors, and well-being.\n\n###  Role of the Work Environment on Safety and Health Outcomes\n\nStudies at the Oregon Healthy Workforce Center have found that while\nindividual behaviors play a role in worker health, safety, and well-being, the\nworkplace environment can also have a large impact, such as access to safety\nequipment, access to healthy foods, reasonable working hours and breaks,\naccess to opportunities to engage in physical activities at or near work (  48\n\u2013  51  ). In addition, workers who are stressed or injured at work may engage\nin unhealthy behaviors such as poor diet, lack of physical activity, lack of\nsleep, and substance abuse, which in turn can contribute to further injuries\nor chronic health conditions such as obesity or HBP (  52  ,  53  ). Our\nfindings suggest that there is much need to study and improve working\nconditions for these occupational groups, with the goal of promoting health,\nsafety, and well-being. Specifically, organizations should influence employee\nlifestyles through structural changes to the design of work and working\nconditions that would facilitate engaging in these activities, along with\nprograms that target individual motivation and participation.\n\nIn our study, there was a high rate of pain reported among workers in\ncorrections, construction and homecare. Population-based studies indicate that\nlevels of musculoskeletal pain in adults range from 6 to 55% (  19  ,  54  ).\nIn a large random sample of working adults from one UK region, the prevalence\nof adults with pain in upper limbs and neck was 50.5%. This UK region had a\nlarge percentage of manufacturing workers; however, only 13% reported pain\nthat interfered with functioning. In a large random sample of people from\nSweden, 55% of the population perceived consistent pain for three 3 months or\nmore (  54  ). This sample consisted of residents from two regions of the\ncountry: one with a high percentage of industrial manufacturing and blue-\ncollar workers and the other with a high percentage of fishing and\nagricultural workers. Factors found to be associated with musculoskeletal pain\nincluded the following: repetitive lifting of heavy objects, prolonged neck\nbending, working with arms at shoulder height or higher, low job control, low\nsupervisor support, blue-collar occupations, and female gender. Growing\nevidence suggests that work-related injuries play a part in the opioid\nepidemic (  55  ,  56  ). Occupations that require a high degree of manual\nlabor such as construction show a higher likelihood that a worker will develop\na dependency on prescription opioids (  55  ).\n\nAll of our adult samples had lower levels of mental health than the general US\npopulation. Workplace factors associated in the literature with decreased\nmental health include: high job strain\u2014which is a combination of high demands\nand low discretionary control over work\u2014low social support at work, effort-\nreward imbalance, shift work (especially night shift), and long work hours (\n20  ,  57  \u2013  61  ). Organizational interventions to prioritize mental health\nby reducing sources of job stress and providing access to employee-assistance\nprograms such as confidential counseling are critical. Similarly, increasing\njob control may help to decrease stress, improve work-life balance, thereby\nreducing the risk for stress-related outcomes such as hypertension.\n\n###  Occupational Differences\n\nA crucial component in identifying cross-population factors related to risks\nand general wellness at the occupation-level lies in comprehensively\nunderstanding the distinct challenges, contexts, and profiles of the workers\nwithin each setting (  62  ). Differences between samples could be evidence of\nstructural barriers in workplaces that do not prioritize safety and health\nbehaviors. Research has demonstrated that aspects of the physical environment\nor nature of work impact safety and health behaviors and related outcomes. For\nexample, at a public health level, the following are related to greater\nparticipation in physical activity: accessibility of fitness facilities, the\npresence of sidewalks, and low-traffic (  48  ). In the work environment,\nexamples of facilitators of physical activity could include pedal stands,\nhaving proper work breaks, and safe spaces to walk at work.\n\nHomecare workers had poorer health across several measures compared to the\nother occupational groups; they also reported greater pain, poorer physical\nfunctioning, and role functioning than the U.S. general population. Our\nprevious qualitative research indicated that these homecare workers, who were\nemployed by the consumers or their families, reported low support for safety (\n32  ). In an institutional care organization, lifting would be done by a group\nof workers whereas homecare workers must often do this lifting alone. Because\nhomecare workers are dependent on their consumer and the consumer's case\nmanager to request safety equipment, the process is often unclear for the\nworker. They also reported poorer well-being as indicated by lower emotional\nand social functioning than the nationally representative sample. In our\nprevious work we found that homecare workers also reported feeling socially\nisolated, having almost no contact with co-workers other than during training\nsessions. This isolation could contribute to lower well-being among homecare\nworkers. These are some aspects of the work environment that could be targeted\nto decrease injuries and pain, and improve well-being.\n\nConstruction workers had the highest rate of injuries and, like homecare\nworkers, reported a high degree of pain interfering with normal activities. Of\nall the occupational groups, construction workers had among the highest\noccupational exposure to posture-related risk factors for injury (  21  ). The\nvast majority of construction workers were overweight or obese and were pre-\nhypertensive or hypertensive. Smoking was also more prevalent among\nconstruction workers than among the other occupations we assessed.\nConstruction workers would benefit substantially from interventions focused on\nreducing hazardous exposures and work-related injuries, smoking cessation\nprograms (  63  ), and by training supervisors to better support work-life\nintegration (  64  ), and safety communications (  65  ).\n\nCorrections workers reported less pain than our other samples. They also\nshowed better outcome measures of health (i.e., general health) and well-being\n(e.g., mental health and social functioning) than the U.S. population in\ngeneral. They did, however, have among the highest percentage of overweight\nand pre-hypertension/hypertension of our occupational groups. Further research\ninto how the work environment could be modified to reduce risks of preventable\ndiseases could be particularly useful for these workers.\n\n###  Younger and Older Workers\n\nThere were a variety of notable differences between the younger and older\nworkers. The older workers generally had poorer general and mental health than\nthe general U.S. population. On the other hand, younger workers were no\ndifferent than the general U.S. population. Research has indicated that\nreports of pain increase as workers age (  54  ). We saw evidence of this in\nour sample: two of the older worker samples (homecare and construction)\nreported significantly more bodily pain than the general population while the\nyoung workers reported significantly less pain than the general population.\nYoung workers scored significantly higher on vitality than the U.S. general\npopulation ( _p_ > 0.001); there was no difference between the adult samples\nand the U.S. general population on vitality. Younger workers, who need more\nsleep than older adults, were more likely to report inadequate sleep than\nolder workers. TWH interventions geared toward older adults would include\nhealthy pain management strategies (at the individual level) in combination\nwith addressing important changes to the work environment such as providing\ntools for safe lifting and preventing worksite risks for injuries and\naccidents. Although young workers are healthier compared with older workers,\nthey could benefit from interventions to increase sleep and physical activity.\nIntervening with younger workers to establish prevention strategies that are\nreinforced through their career could be a worthwhile approach that may help\nto prevent worsening of health conditions as career paths progress (  47  ).\n\n###  Limitations\n\nOur study has some limitations. All samples were chosen to address the main\naims of the sub-studies making up the OHWC. These occupational groups are not\nmeant to be representative of the entire national workforce but rather these\nspecific occupational groups within Oregon. These were convenience samples\nwithin single organizations and thus may not be as representative of their\nrespective occupational groups compared to a study using random sampling of\nall individuals in a certain occupation. The OHWC targets working populations\nwith high burden and need, which should be considered when generalizing our\nresults. When comparing our samples to the national representative sample, we\ncould not match the age or gender of our samples because we did not have the\nindividual data for the national sample. We cannot rule out the influence of\nother factors beyond working conditions on workers' health, as the data is\ncross-sectional and we did not measure pre-existing conditions. In addition,\nmore detail on several of our outcomes would allow conclusions that are more\nprecise. For example, we asked about smoking in the past week. We did not ask\nhow long workers had smoked or whether some may have only recently quit. When\nincluding common measures across multiple studies that may not be relevant to\nother aims in is necessary to trade off details for efficiency. Next, all of\nthese data were collected in the State of Oregon. It is possible that\nregulations in other states or other state-level variables could influence\nsafety and health behaviors and outcomes for workers in similar occupations.\nIn addition, after we began our data collection for these studies, the NIH\npublished PROMIS measures (  66  \u2013  68  )\u2014a set of freely available, well-\nvalidated measures of various aspects of health, with the objective of\nstandardizing measures across studies. We have adopted these measures for\nsubsequent data collection across projects, but unfortunately, they could not\nbe part of this study. Finally, some measures referenced varying reflective\ntime periods (e.g., smoking a cigarette in the last week vs. last month);\nthus, direct comparisons on these specific variables should be made with\ncaution. Nonetheless, the Common Measures Data Repository is a promising\napproach to learning and addressing the unique and shared needs of worker\npopulations across occupations.\n\n###  Practical Implications and Conclusions\n\nGrowing literature suggests that lifestyle behaviors such as getting adequate\nsleep, exercising regularly, eating a healthy diet, and not smoking can be\ninfluenced by work exposures, conditions, and policies (  69  ). Because\nadults spend a significant amount of their awake hours at work and because\nwork plays an important role in our lifestyle and well-being, the workplace is\nan opportune platform from which to address health behaviors and outcomes.\n\nUsing a common measures approach to understand occupational safety, health,\nand well-being outcomes across studies can serve to compare and contrast\nrisks, and highlight avenues for interventions to reduce work-related hazards\nand promote health and well-being. The findings of our common measures\nanalyses point to the potential benefit of a Total Worker Health approach, in\nparticular, integrated interventions that can decrease work-related risk\nfactors and improve facilitators for pursuing health, safety, and well-being\namong workers across industries and along the age spectrum. For example, early\ninterventions to reduce risk for injury at work can prevent the experience of\npain among older workers, which in turn could improve health and safety\nbehaviors, enhance health outcomes, and overall facilitate long-term quality\nof life.\n\n##  Data Availability Statement\n\nThe datasets presented in this article are not readily available because they\nmust be approved by the OHWC Steering Committee. Requests to access the\ndatasets should be directed to Ginger Hanson,  ghanson4@jhu.edu  .\n\n##  Ethics Statement\n\nThe studies involving human participants were reviewed and approved by Oregon\nHealth and Science University and Portland State University. Written informed\nconsent to participate in this study was provided by the participants' legal\nguardian/next of kin.\n\n##  Author Contributions\n\nGH, AR, TB, LH, DR, RO, BW, KK, and NP: conception and design of study. GH,\nAR, TB, LH, DR, RO, BW, KK, NP, ST, and MP: acquisition of data. GH, AR, TB,\nand NP: analysis and/or interpretation of data. GH, AR, LA, and AS: drafting\nthe manuscript. AR, TB, LH, DR, RO, BW, and KK: revising the manuscript\ncritically for important intellectual content. All authors contributed to the\narticle and approved the submitted version.\n\n##  Conflict of Interest\n\nThe authors declare that the research was conducted in the absence of any\ncommercial or financial relationships that could be construed as a potential\nconflict of interest.\n\n##  Acknowledgments\n\nThis results reported herein correspond to specific aims of grant (U19\nOH010154) to LH and RO from the National Institute for Occupational Safety.\nThis work was also supported by funding from the Oregon Institute of\nOccupational Health Sciences. In addition, we would like to recognize the work\nof Rob Wright, Annie Buckmaster, and Kristy Luther Rhoten in the collection of\nCOMPASS data.\n\n##  References\n\n  * 1\\.  Hammer LB, Sauter S. 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Requests to access the\ndatasets should be directed to Ginger Hanson,  ghanson4@jhu.edu  .\n\n* * *\n\nArticles from Frontiers in Public Health are provided here courtesy of\n**Frontiers Media SA**\n\n##  ACTIONS\n\n  * [ View on publisher site  ](https://doi.org/10.3389/fpubh.2021.614725)\n  * [ PDF (272.9 KB)  ](pdf/fpubh-09-614725.pdf)\n  *   *   * ##  PERMALINK \n\n##  RESOURCES\n\n###\n\n###\n\n###\n\n##  Cite\n\n  *   * Download .nbib  .nbib \n  * \n\n##  Add to Collections\n\nFollow NCBI\n\n[ NCBI on X (formerly known as Twitter)  ](https://twitter.com/ncbi) [ NCBI on\nFacebook  ](https://www.facebook.com/ncbi.nlm) [ NCBI on LinkedIn\n](https://www.linkedin.com/company/ncbinlm) [ NCBI on GitHub\n](https://github.com/ncbi) [ NCBI RSS feed\n](https://ncbiinsights.ncbi.nlm.nih.gov/)\n\nConnect with NLM\n\n[ NLM on X (formerly known as Twitter)  ](https://twitter.com/nlm_nih) [ NLM\non Facebook  ](https://www.facebook.com/nationallibraryofmedicine) [ NLM on\nYouTube  ](https://www.youtube.com/user/NLMNIH)\n\n[ National Library of Medicine  \n8600 Rockville Pike  \nBethesda, MD 20894\n](https://www.google.com/maps/place/8600+Rockville+Pike,+Bethesda,+MD+20894/%4038.9959508,\n\n            -77.101021,17z/data%3D!3m1!4b1!4m5!3m4!1s0x89b7c95e25765ddb%3A0x19156f88b27635b8!8m2!3d38.9959508!\n            4d-77.0988323)\n\n  * [ Web Policies ](https://www.nlm.nih.gov/web_policies.html)\n  * [ FOIA ](https://www.nih.gov/institutes-nih/nih-office-director/office-communications-public-liaison/freedom-information-act-office)\n  * [ HHS Vulnerability Disclosure ](https://www.hhs.gov/vulnerability-disclosure-policy/index.html)\n\n  * [ Help ](https://support.nlm.nih.gov/)\n  * [ Accessibility ](https://www.nlm.nih.gov/accessibility.html)\n  * [ Careers ](https://www.nlm.nih.gov/careers/careers.html)\n\n  * [ NLM ](https://www.nlm.nih.gov/)\n  * [ NIH ](https://www.nih.gov/)\n  * [ HHS ](https://www.hhs.gov/)\n  * [ USA.gov ](https://www.usa.gov/)\n\n",
                "url": "https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7892612/"
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            "reason": "This is a peer-reviewed article published on the National Center for Biotechnology Information (NCBI) website, a highly reliable source for scientific research. The article discusses the impact of the COVID-19 pandemic on employee well-being.",
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            "summary": "This is a peer-reviewed article published on the National Center for Biotechnology Information (NCBI) website, a highly reliable source for scientific research. The article discusses the impact of the COVID-19 pandemic on employee well-being.",
            "url": "https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7892612/"
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                    "source": "https://www.apha.org/"
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                "page_content": "#  Championing optimal, equitable health and well-being  for all.\n\nSpeaking out for public health issues and policies for over 150 years.\n\n[ Stay informed and sign up for our newsletter ](/what-is-public-\nhealth/newsletter-signup)\n\n## [ Public Health Jobs  Reference this list of public health organizations\nand resources that provide job listings, professional development and\nnetworking opportunities in the public health sector.  ](/professional-\ndevelopment/public-health-careermart/public-health-jobs)\n\n## [ Public Health Under Threat  Proposed policies jeopardize critical public\nhealth systems and risk worsening health inequities.  ](/topics-and-\nissues/public-health-under-threat) ## [ Policy Action Institute  The 2025\nPolicy Action Institute will take place June 16-17 at the Westin Washington,\nD.C. 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Benjamin, MD on proposed HHS layoffs\n](/news-and-media/news-releases/apha-news-releases/america-needs-a-robust-\nfederal-health-workforce-rather-than-a-depleted-one)\n\n#  Dive deeper  into public health topics.\n\nAPHA works to improve access to care, bring about health equity and support\npublic health infrastructure. Public health is a broad field. We focus on the\nmost important problems and solutions of our time. 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                "url": "https://www.apha.org/"
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            "summary": "This is the official website for the American Public Health Association (APHA), a credible source for public health information and research.",
            "url": "https://www.apha.org/"
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                    "source": "https://www.researchgate.net/publication/381896090_Exploring_the_Impact_of_Hybrid_and_Remote_Work_Models_on_Business_Efficiency_and_Employee_Well-being_A_Scoping_Review"
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                "page_content": "[ ](https://www.researchgate.net)\n\n#  Access denied\n\nYou do not have access to www.researchgate.net.\n\nThe site owner may have set restrictions that prevent you from accessing the\nsite.\n\n  * Ray ID: 9355f6c7cfd2a8bd \n  * Timestamp: 2025-04-24 13:31:58 UTC \n  * Your IP address: 2600:1900:0:3701::501 \n  * Requested URL: www.researchgate.net/publication/381896090_Exploring_the_Impact_of_Hybrid_and_Remote_Work_Models_on_Business_Efficiency_and_Employee_Well-being_A_Scoping_Review \n  * Error reference number: 1020 \n  * Server ID: FL_986F71 \n  * User-Agent: Mozilla/5.0 (X11; Linux x86_64; rv:118.0) Gecko/20100101 Firefox/118.0 \n\nRay ID : 9355f6c7cfd2a8bd\n\nClient IP : 2600:1900:0:3701::501\n\n\u00a9  ResearchGate GmbH. All rights reserved.\n\n",
                "url": "https://www.researchgate.net/publication/381896090_Exploring_the_Impact_of_Hybrid_and_Remote_Work_Models_on_Business_Efficiency_and_Employee_Well-being_A_Scoping_Review"
            },
            "reason": "ResearchGate hosts research papers and allows researchers to share their work. While not all content is peer-reviewed, this paper appears to be a scoping review, suggesting a systematic approach. It is a moderately reliable source for research on hybrid/remote work and employee well-being.",
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            "search_query": "company 'N/A' employee well-being",
            "summary": "ResearchGate hosts research papers and allows researchers to share their work. While not all content is peer-reviewed, this paper appears to be a scoping review, suggesting a systematic approach. It is a moderately reliable source for research on hybrid/remote work and employee well-being.",
            "url": "https://www.researchgate.net/publication/381896090_Exploring_the_Impact_of_Hybrid_and_Remote_Work_Models_on_Business_Efficiency_and_Employee_Well-being_A_Scoping_Review"
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                    "source": "https://your.yale.edu/work-yale/benefits/benefits-enrollment-2025/security-benefits-2025"
                },
                "page_content": "Jump to content\n\n#  Security Benefits 2025\n\n##  Quick Resources\n\n  * [ Benefits Contributions Calculator ](https://yppsweb1.its.yale.edu/benefits/healthcalc_ctsmsec_2025.vbhtml) (VPN Login) \n  * [ Employee Contributions/Rates ](/sites/default/files/files/Enroll/2025/2025-Rates-Union-CT-SM-Security.pdf)\n\n##  Explore Your Benefits\n\n  * Medical  ,  Dental  , and  Vision  Insurance \n  * Benefits Contributions and Rates \n  * Compare  Plans  :  In-Network  and  Out-Of-Network \n  * Additional Benefits and Resources \n  * Provider Contact Information \n  * [ Required Disclosers and Important Notices ](/policies-procedures/forms/summary-annual-reports-required-disclosures-forms)\n\n##  Medical Insurance\n\nVisit the medical comparison chart  and  contributions and rates  below to\nlearn more about your options.\n\n###  Yale Health\n\n[ Yale Health ](https://yalehealth.yale.edu/) is more than just a health\ninsurance option\u2013it\u2019s an integral part of the Yale community, designed\nexclusively for Yale University faculty, retirees, students, staff, and their\nfamilies. As Yale\u2019s preferred healthcare provider for over 50 years, Yale\nHealth offers a unique, patient-centered approach with nearly all\nservices\u2013primary care, specialty care, diagnostic imaging, urgent care, and a\nfull pharmacy\u2013under one roof. Our physician-led, non-profit model ensures you\nreceive personalized, high-quality care. And if specialized care is needed,\nyou\u2019ll have access to top physicians from Yale School of Medicine. With\nemergency care coverage worldwide, you\u2019re protected wherever life takes you.\nIt\u2019s no wonder that nearly 80% of Yale staff trust Yale Health with their\nhealthcare. Join us and experience the convenience, care, and community that\nonly Yale Health can offer.\n\n###  Aetna\n\nAlternately, you may enroll in Aetna Select or Aetna Smart Care Health Savings\nAccount (HSA) and Accident coverage through [ Yale\u2019s Aetna program\n](https://aetnaresource.com/n/yuctsmsecurity) . If you participate in the [\nAetna Smart Care Plan and elect an HSA ](/work-yale/benefits/my-benefits-job-\nclassification/health-savings-account-hsa) , the university will provide an\nannual deposit of $850, $1,275 or $1,700 depending on your coverage election,\ninto your account. You can open a Health Savings Account (HSA) anytime to\ncover eligible healthcare expenses. Unused funds will roll over from year to\nyear\u2013and earn interest. If you contribute to an HSA, you can also open a\nlimited purpose FSA to cover certain dental and vision expenses. Aetna members\nenjoy access to:\n\n  * **Aetna Smart Care Accident Coverage**   \n[ Aetna Smart Care accident coverage ](/work-yale/benefits/my-benefits-job-\nclassification/aetna-accident-coverage) provides lumpsum benefits for covered\naccidents and some hospital stays, free of charge, for you and your covered\ndependents.\n\n  * **Aetna Minute Clinic\u00ae**   \n[ Aetna Minute Clinic ](http://www.minuteclinic.com/) \u2013a walk-in medical\nclinic, located in select CVS pharmacy locations and Target stores\u2013offers\npreventative health screenings, routine immunizations, women\u2019s services,\ntreatment of minor illnesses and injuries and more. Access is free for Aetna\nmembers, but there is a charge for Aetna Smart Care participants.\n\n  * **Progyny Fertility and Family Building Assistance**   \n[ Fertility ](/work-yale/benefits/fertility-and-family-building-benefit-\nprogyny) benefits provide you with comprehensive coverage, personalized\nsupport, and high-quality care for fertility treatments, available to benefit\neligible security staff enrolled in Aetna Smart Care.\n\n##  Flexible Spending Account\n\nWith a [ Flexible Spending Account (FSA) ](/work-yale/benefits/my-benefits-\njob-classification/flexible-spending-accounts) , you can reduce your taxable\nearnings and receive reimbursement of eligible out-of-pocket expenses. Yale\noffers two kinds of FSA: a healthcare and a dependent care FSA. You must\nenroll or re-enroll in an FSA during Yale\u2019s annual enrollment. Remember to\nplan carefully as your FSA funds will not roll over to the following year.\n\n##  Dental Insurance\n\nDelta Dental is Yale\u2019s exclusive dental carrier. Review the [ dental plan\ndocuments ](/policies-procedures/forms/dental) and [ plan summary\n](/sites/default/files/files/Enroll/2025/Clerical-Technical%20-Service-\nMaintenance-Delta-Dental-Overview-Union-2025.pdf) for more information.\n\n  * 100% for Preventive & Diagnostic \n  * 80% for Basic Restorative \n  * 50% for Major Restorative \n  * 50% coverage \u2020* for Orthodontia \n\n* $1,000 lifetime maximum; \u2020 Dependents under age 19. \n\n##  Vision Insurance\n\n[ EyeMed offers two options ](/policies-procedures/other/eyemed-vision) :\nEyeMed Basic, which provides allowances for frames and lenses, and EyeMed\nEnhanced, which also covers eye exams and more frequent hardware allowances as\nwell as other valuable enhancements.\n\n##  Benefits Contributions and Rates\n\n  * [ Benefits Contributions Calculator 2025 ](https://yppsweb1.its.yale.edu/benefits/healthcalc_ctsmsec_2025.vbhtml) (VPN login) \n  * [ Employee Contributions/Rates 2025 ](/sites/default/files/files/Enroll/2025/2025-Rates-Union-CT-SM-Security.pdf)\n  * [ Supplemental Life Insurance ](/sites/default/files/files/Enroll/2025/Supplemental-Life-Union-rate-sheet-2025.pdf)\n  * [ COBRA Rates 2025 ](/sites/default/files/files/Enroll/2025/2025-COBRA-Rates.pdf)\n\n##  Compare Plans\n\nIn-Network  Plan Information  |  Yale Health   \n(Footnote 1)  |  Aetna Select   \n(Footnote 2)  |  AETNA SMARTCARE (WITH HEALTH SAVINGS ACCOUNT AND ACCIDENT)   \n(FOOTNOTES 2,3,4,11)  |  Legacy AETNA Choice (closed to new enrollments)   \n---|---|---|---|---  \nIn-Network Deductible  \n(Footnote 3)  |  N/A  |  N/A  |  $1,750/$3,500 single/family  |  N/A   \nCo-Insurance  \n(Footnote 4)  |  None  |  None  |  10%  |  None   \nHealth Savings Account Annual Employer Contribution  |  N/A  |  N/A  |  $850 Single   \n$1,275 Single + Child(ren)  \n$1,275 Single + Spouse  \n$1,700 Family  \n(pro-rated for new hires based on hire date)  |  N/A   \nOut-of-pocket Maximum  \n(Footnote 5)  |  $6,350/$12,700   \nsingle/family  |  $6,350/$12,700   \nsingle/family  |  $4,000/$6,850   \nsingle/family  |  $6,350/$12,700 single/family   \nPrescription Drugs (up to a One-month supply)  \n(Footnote 6)  |  $10 Preferred   \n$35 Alternative  \n$60  Non-preferred & Specialty  \nCo-pays apply when purchased at the Yale Health pharmacy, outside pharmacy prescriptions are the greater of 20% of the cost or the co-pay  |  $10 Preferred   \n$35 Alternative  \n$60  Non-preferred & Specialty  |  Copay without a deductible applies to certain Preventive drugs. View the [ Smart Care Preventive Medicine Drug list ](/sites/default/files/files/Enroll/2025/2025-HCR-Preventive-Drug-List.pdf) . If not on the preventive list, deductible and coinsurance will apply.  After Deductible is met, the following copays apply:   \n$10 Preferred  \n$45 Alternative  \n40% Non-preferred (min/max $60/$120)  Specialty Drugs (40% coinsurance to a max $120 co-pay)  |  $10 Preferred   \n$35 Alternative  \n$60  Non-preferred & Specialty  \nDurable Medical Equipment  |  $10  |  N/A  |  10% coinsurance  |  N/A   \nPreventative Care  |  $0  |  $0  |  $0  |  $0   \nOffice Visit: Primary Care Provider (PCP) Mental Health  |  $0  |  $20  |  Deductible and coinsurance apply  |  $20   \nOffice Visit: Specialist (including Urgent Care)  \n(Footnote 7)  |  $0  |  $30  |  Deductible and coinsurance apply  |  $30   \nRoutine Eye Exams  |  $0  |  $30  |  Deductible and coinsurance apply  |  $30   \nEmergency Room  |  $50, waived if admitted   \nor referred by YHP  |  $100, waived if admitted  |  Deductible and coinsurance apply  |  $100, waived if admitted   \nTeladoc  |  N/A  |  N/A  |  Deductible and coinsurance apply  |  N/A   \nAdvocacy Services  |  N/A  |  N/A  |  Included  |  N/A   \nUrgent Care  |  N/A  |  N/A  |  Deductible and coinsurance apply  |  N/A   \nDiagnostic X-ray/Lab  |  $0 at Yale Health Center;   \n$15  (x-ray) outside Yale Health  |  $0  |  Deductible and coinsurance apply  |  $0   \nComplex Imaging (MRI, CT Scan, etc.)  \n(Footnote 8)  |  $0 at Yale Health Center;   \n$30  outside Yale Health  |  $50 (waived at preferred facilities)  |  Deductible and coinsurance apply  |  $50 (waived at preferred facilities)   \nOutpatient Surgical  |  $25  |  $0  |  Deductible and coinsurance apply  |  $0   \nInpatient Hospital  \nServices  |  $50  |  $0  |  Deductible and coinsurance apply  |  $0   \nPhysical Therapy/Chiropractic  |  Physical therapy: $0   \nChiropractic: up to 12 visits per year,  \nat a $50 reimbursement per visit  |  $30  |  Deductible and coinsurance apply  |  $30   \nFertility Services  \n(Footnote 9)  |  $20,000 Lifetime maximum; Pre-authorization required.  |  $20,000 Lifetime maximum; Pre-authorization required.  |  Fertility benefits are administered through Progyny. To learn more or for questions about your Progyny fertility benefit, call 866-881-4029. (Footnote 12)  |  $20,000 Lifetime maximum; Pre-authorization required.   \nIn-Vitro Fertilization & ART  \n(Footnote 9)  |  Four (4) cycles, Lifetime maximum; Pre-authorization required.  |  Four (4) cycles, Lifetime maximum; Pre-authorization required.  |  Fertility benefits are administered through Progyny. To learn more or for questions about your Progyny fertility benefit, call 866-881-4029. (Footnote 12)  |  Four (4) cycles, Lifetime maximum; Pre-authorization required.   \nReferral Required  \n(Footnote 10)  |  Yes  |  Yes  |  N/A  |  No   \nOut-Of-Network  Plan INformation  |  Yale Health   \n(Footnote 1)  |  Aetna Select   \n(Footnote 2)  |  AETNA SMARTCARE   \n(WITH HEALTH SAVINGS ACCOUNT AND ACCIDENT)  \n(FOOTNOTES 2,3,4,11)  |  LEGACY AETNA CHOICE (CLOSED TO NEW ENROLLMENTS)   \n---|---|---|---|---  \nCo-Insurance  \n(Footnote 4)  |  N/A  |  N/A  |  30%  |  30%   \nOut-of-Network Deductible  \n(Footnote 3)  |  N/A  |  N/A  |  $1,750/$3,500   \nsingle/family  |  $250/$750   \nsingle/family  \nOut-of-pocket Maximum  \n(Footnote 5)  |  N/A  |  N/A  |  $6,500/$13,000   \nsingle/family  |  $1,000/$3,000 single/family   \n  \n* Text highlighted orange indicates that the information has changed for 2025. \n\n##  Benefits Resources and Rates\n\nMedical, Dental, and Vision  |  Well-Being and Work + Life  |  Finances and Retirement   \n---|---|---  \n  \n  * [ Aflac Short-Term Disability ](/policies-procedures/other/aflac-short-term-disability)\n  * [ CIGNA Dental (closed to new enrollments) ](https://your.yale.edu/sites/default/files/files/Enroll/Cigna-dental-schedule-of-fees-2015.pdf)\n  * [ Disability ](/work-yale/benefits/health-benefits/disability/disability-clerical-and-technical-security-yale-police)\n  * [ Health Expectations Program (HEP) ](/sites/default/files/files/Enroll/2020/HEP%20brochure-2018-4-FINAL\\(1\\).pdf)\n  * [ Livongo ](/work-yale/benefits/livongo)\n  * [ Medical Plan Documents and Notices ](/work-yale/benefits/benefits-forms-documents/plan-documents-notices)\n  * [ Smart Care Preventive Medicine Drug list ](/sites/default/files/files/Enroll/2024%20Aetna%20HCR%20Preventive%20Drug%20List.pdf)\n\n|\n\n  * [ Being Well at Yale ](https://beingwell.yale.edu/)\n  * [ Paid Time Off (PTO) ](/work-yale/benefits/paid-time)\n  * [ Your Well-Being ](/work-yale/benefits/your-well-being)\n  * [ Your Work + Life ](/work-yale/benefits/your-work-life)\n  * [ Educational Assistance ](/work-yale/benefits/your-well-being/educational-assistance-programs-yale)\n\n|\n\n  * [ Life Insurance ](https://your.yale.edu/work-yale/benefits/my-benefits-job-classification/life-insurance#Clerical)\n  * [ Retirement ](/work-yale/benefits/your-finances/planning-retirement/retirement-plans-clerical-and-technical)\n  * [ Your Finances ](/work-yale/benefits/your-finances)\n\n  \n  \nFootnotes:\n\n  1. Yale Health only provides out-of-area coverage for emergency and urgent care. A $45 late cancellation or no show penalty may apply to certain services. See Yale Health website and plan document for details. \n  2. A three year exclusion rule applies to new hires. In the first three (3) years of service employees are eligible for Yale Health plan only. \n  3. The amount of out-of-pocket expenses per calendar year you must pay for services before the plan pays any expenses. \n  4. The amount you must pay for services, after the deductible has been paid. \n  5. The maximum amount you have to pay toward the cost of your medical care in the course of the calendar year including deductible or co-pays. \n  6. Yale Health DAW: Your plan may have a preferred cost-sharing requirement. This means that if you request an Alternative or Non-preferred medication when a Preferred is available, you pay the difference in cost between the Alternative or Nonpreferred and Preferred medication in addition to your co-pay (or co-insurance). The prescription must state Dispense As Written (DAW) or Preferred substitution will apply. New prescriptions may require pre-authorization or other limits. Aetna DAW: If a Preferred drug is available and an Alternative or Non-preferred drug is dispensed, you will be charged the applicable co-pay plus the difference in cost between the Alternative or Non-preferred drug and Preferred drug cost even if your provider requests the Alternative drug. In most cases, the Preferred drug is the same chemical entity/ active ingredient as the Non-preferred drug. \n  7. There is a $35 co-pay for in-network visits to facilities deemed to be an Urgent Care Facility by Aetna. \n  8. List of preferred facilities can be found on the Aetna member services website. \n  9. In-Vitro Fertilization & Advanced Reproductive Technology (ART), are subject to life time limit of four (4) cycles. Artificial insemination (IUI) is subject to the $20,000 limit. See Plan Documents & Notices for plan details.   \nThis is a lifetime limit per contract regardless of carrier chosen.\n\n  10. Referrals are required in order to see providers other than primary care providers. \n  11. If eligible, the HSA employer contribution will be prorated for non-calendar year effective dates. The employer contribution requires HSA eligibility, account set up, and is contingent on enrollment in the Aetna Smart Care. The university will provide an annual deposit of $850, $1,275 or $1700 depending on your coverage election, into your account. \n  12. Through Progyny\u2019s benefit, members have access to a comprehensive suite of fertility treatment options. \n\nThis chart is a summary of the benefits provided under each option. For\ncomplete details, refer to the Yale Health and Aetna Plan Summary of Benefits\nand Plan documents located on the  [ Plan Documents and Notices page ](/work-\nyale/benefits/benefits-forms-documents/plan-documents-notices) .\n\nThe applicable plan documents govern all questions of interpretation.\n\nRequired Disclosures and Important notices are located on the [ Summary Annual\nReports & Required Disclosures page ](/policies-procedures/forms/summary-\nannual-reports-required-disclosures-forms) .\n\n##  Do You Have Other Insurance?\n\nIf you are covered by more than one insurance plan\u2014such as your employer plan\nand your spouse\u2019s employer plan\u2014you must disclose this information to Yale\nHealth or Aetna. Failure to disclose this information may affect the terms of\nyour coverage or denial of claims.\n\n**Coordination of Benefits (COB)** is the method used to determine which plan\npays first, which pays second, and the amount paid by each plan.\n\n**Out-of-network** facility charges for all Yale medical plans will be based\non Medicare reimbursement levels, or what is considered reasonable and\ncustomary. This change applies to voluntary (non-emergency) facility use only.\nIf you choose to utilize an out-of-network facility when an in-network\nfacility is available, you may be subject to balance billing for any amount\nthat exceeds the reasonable and customary reimbursement level.\n\n**End Stage Renal Disease (ESRD) and Medicare** : If you or a family member is\ndiagnosed with ESRD, you will need to enroll in Medicare by the 30th month of\nMedicare eligibility. During the 30-month coordination period your medical\nplan will be your primary coverage and Medicare can be optional. After 30\nmonths, Medicare will be your primary coverage and your medical plan will only\ncover what Medicare would not have paid.\n\nIf you are enrolled in an additional insurance plan, you must provide\ninformation about that plan to Yale Health or Aetna.\n\nVisit Yale Health [ Health Coverage ](https://yalehealth.yale.edu/coverage)\nfor coordination of benefits information or [ download the (COB) form\n](https://yalehealth.yale.edu/sites/default/files/2023-07/COBFORM.pdf) .\n\nLog in to the [ Aetna website ](https://www.aetna.com) for more information\nabout coordination of benefits.\n\n##  Provider Contact Information\n\nProvider  |  Contact  |  Telephone   \n---|---|---  \nMedical  |  [ Yale Health ](http://yalehealth.yale.edu) |  203-432-0246   \nMedical  |  [ Aetna ](http://aetna.com) |  866-253-8886   \nVision  |  [ EyeMed ](http://eyemed.com) |  866-299-1358   \nDental  |  [ Delta ](http://deltadentalnj.com) |  800-494-4138   \nDental  |  [ CIGNA ](http://cigna.com) |  800-367-1037   \nFlexible Spending Accounts (FSA)  \nCommuter  |  HealthEquity  |  877-924-3967; #6   \nTuition Assistance  |  [ Bright Horizons EdAssist Solutions ](/work-yale/benefits/yale-signature-benefits/educational-assistance-programs-yale/tuition) |   \nWell-Being  |  [ Optum ](https://www.liveandworkwell.com/?pin=yalesb) |  866-416-6586   \n403(b) Plans  |  [ TIAA ](http://tiaa.org/yale) |  855-250-5424   \nStaff Pension Plan  |  Yale Pension Service Center  |  877-352-5552; #2   \n  \n##  Helpful Links\n\n  * [ Operations ](/operations)\n  * [ Inside Your Yale ](https://yaleedu.sharepoint.com/sites/inside-your-yale)\n  * [ Directories ](https://directory.yale.edu/)\n  * [ Support ](/work-yale/support)\n\n##  Required Information\n\n  * [ Accessibility at Yale ](https://usability.yale.edu/web-accessibility/accessibility-yale)\n  * [ Federal and State Notice Requirements ](/federal-and-state-notice-requirements)\n  * [ Nondiscrimination/Title IX ](https://www.yale.edu/nondiscrimination)\n  * [ Privacy Policy ](https://www.yale.edu/privacy-policy)\n\n##  Yale Shuttle\n\n[ ](/work-yale/campus-services/yale-transit/shuttle)\n\n[ Yale  ](http://www.yale.edu)\n\nCopyright \u00a9 2025 Yale University  All Rights Reserved  [ Contact Internal\nCommunications ](/contact-us)\n\n",
                "url": "https://your.yale.edu/work-yale/benefits/benefits-enrollment-2025/security-benefits-2025"
            },
            "reason": "This is information directly from Yale University regarding employee benefits. It is a primary source and therefore highly reliable for information about Yale's employee benefits.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' employee well-being",
            "summary": "This is information directly from Yale University regarding employee benefits. It is a primary source and therefore highly reliable for information about Yale's employee benefits.",
            "url": "https://your.yale.edu/work-yale/benefits/benefits-enrollment-2025/security-benefits-2025"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "4109f4f6-d1cc-469c-8368-8a33e3776cdf",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.subaru.co.jp/en/csr/iso26000.html"
                },
                "page_content": "  * [ HOME  ](/en)\n  * [ Sustainability  ](/en/csr/index.html)\n  * GRI Content Index \n\nIn reference to the reporting requirements set forth by the GRI Sustainability\nReporting Standards, the content index indicates where you can find the\nrelevant information in the Sustainability Website, annual securities report,\nCorporate Governance Report, and others.\n\n* Not applicable (NA): Item that is irrelevant or has no cases in which we are involved on a material level. \n\n* \u2013: Item we do not disclose. \n\n##  Universal Standards\n\nItem Number  |  Disclosure  |  Corresponding Sections   \n---|---|---  \nGRI 1: Foundation  \nStatement of use  |  The SUBARU Group reported in accordance with the GRI Standards for the period from April 1, 2023, to March 31, 2024.   \nGRI 1 used  |  GRI 1: Foundation 2021   \nApplicable GRI Sector Standard(s)  |  SUBARU will continue to comply with applicable sector standards as soon as they are released.   \nGRI 2: General Disclosures 2021  \n1\\. The organization and its reporting practices  \n2-1  |  Organizational details  | \n\n  * [ Overview ](https://www.subaru.co.jp/en/outline/profile.html)\n\n  \n2-2  |  Entities included in the organization\u2019s sustainability reporting  | \n\n  * [ Editorial Policy ](/en/csr/editionalpolicy.html)\n\n  \n2-3  |  Reporting period, frequency and contact point  | \n\n  * [ Editorial Policy ](/en/csr/editionalpolicy.html)\n\n  \n2-4  |  Restatements of information  | \n\n  * [ Editorial Policy ](/en/csr/editionalpolicy.html)\n\n  \n2-5  |  External assurance  |  \\-   \n2\\. Activities and workers  \n2-6  |  Activities, value chain and other business relationships  | \n\n  * [ SUBARU at a glance ](https://www.subaru.co.jp/en/outline/about/)\n  * [ CSR Procurement ](/en/csr/social/procurement.html)\n  * [ Global Network ](/en/csr/outline/network.html)\n\n  \n2-7  |  Employees  | \n\n  * [ Employee Data ](/en/csr/social/resources/data.html)\n\n  \n2-8  |  Workers who are not employees  | \n\n  * [ Employee Data ](/en/csr/social/resources/data.html)\n\n  \n3\\. Governance  \n2-9  |  Governance structure and composition  | \n\n  * [ Corporate Governance > Management System ](/en/csr/governance/corporate/?id=a02)\n  * [ Directors of the Board / Executive Officers ](https://www.subaru.co.jp/en/outline/profile.html?id=officer)\n  * [ Environmental Risk Management System ](/en/csr/environment/management.html?id=a0202)\n\n  \n2-10  |  Nomination and selection of the highest governance body  | \n\n  * [ Corporate Governance > Board of Directors ](/en/csr/governance/corporate/?id=a04)\n\n  \n2-11  |  Chair of the highest governance body  | \n\n  * [ Corporate Governance > Board of Directors ](/en/csr/governance/corporate/?id=a04)\n\n  \n2-12  |  Role of the highest governance body in overseeing the management of impacts  | \n\n  * [ Corporate Governance > Management System ](/en/csr/governance/corporate/?id=a02)\n\n  \n2-13  |  Delegation of responsibility for managing impacts  | \n\n  * [ Sustainability Promotion System ](/en/csr/subaru_csr/organization.html)\n\n  \n2-14  |  Role of the highest governance body in sustainability reporting  |  \\-   \n2-15  |  Conflicts of interest  | \n\n  * [ Preventing Conflicts of Interest ](/en/csr/governance/corporate/?id=a10)\n\n  \n2-16  |  Communication of critical concerns  | \n\n  * [ Sustainability Promotion System ](/en/csr/subaru_csr/organization.html)\n  * [ Respect for Human Rights > Stakeholder Engagement ](/en/csr/social/human_rights.html?id=a04)\n\n  \n2-17  |  Collective knowledge of the highest governance body  | \n\n  * [ Executive Officer Training ](/en/csr/governance/corporate/?id=a07)\n  * [ Initiatives to Embed Sustainability ](/en/csr/subaru_csr/organization.html?id=a0201?id=a01)\n\n  \n2-18  |  Evaluation of the performance of the highest governance body  | \n\n  * [ Effectiveness of the Board of Directors: Evaluation Results ](/en/csr/governance/corporate/?id=a05)\n\n  \n2-19  |  Remuneration policies  | \n\n  * [ Compensation for Directors ](/en/csr/governance/corporate/?id=a09)\n\n  \n2-20  |  Process to determine remuneration  | \n\n  * [ Compensation for Directors ](/en/csr/governance/corporate/?id=a09)\n\n  \n2-21  |  Annual total compensation ratio  |  \\-   \n4\\. Strategy, policies and practices  \n2-22  |  Statement on sustainable development strategy  | \n\n  * [ Message on Sustainability from the CEO ](/en/csr/message/)\n  * [ SUBARU New Management Policy ](https://www.subaru.co.jp/en/outline/about/policy/)\n  * [ Mitigating Climate Change > Strategy ](/en/csr/environment/climaticvariation.html?id=a07)\n\n  \n2-23  |  Policy commitments  | \n\n  * [ SUBARU Global Sustainability Policy ](/en/csr/subaru_csr/philosophy.html?id=a01)\n  * [ Human Rights Policy ](/en/csr/social/human_rights.html?id=a0101)\n\n  \n2-24  |  Embedding policy commitments  | \n\n  * [ Sustainability Promotion System ](/en/csr/subaru_csr/organization.html)\n  * [ Initiatives to Embed Sustainability ](/en/csr/subaru_csr/organization.html?id=a01)\n\n  \n2-25  |  Processes to remediate negative impacts  | \n\n  * [ Compliance ](/en/csr/governance/compliance.html)\n  * [ Respect for Human Rights > Human Rights Due Diligence ](/en/csr/social/human_rights.html?id=a05)\n\n  \n2-26  |  Mechanisms for seeking advice and raising concerns  | \n\n  * [ Respect for Human Rights > Contact for opinions and consultation services ](/en/csr/social/human_rights.html?id=a06)\n  * [ CSR Procurement > Consultation Service for Non-Japanese Workers ](/en/csr/social/procurement.html?id=a04)\n  * [ Compliance > Compliance Hotline ](/en/csr/governance/compliance.html?id=a0201)\n\n  \n2-27  |  Compliance with laws and regulations  | \n\n  * [ Prevention of Pollution > Environmental Compliance at SUBARU Sites ](/en/csr/environment/prevention.html?id=a04)\n  * [ Bribery Prevention ](/en/csr/governance/compliance.html?id=a0303)\n\n  \n2-28  |  Membership associations  | \n\n  * [ Stakeholder Engagement ](/en/csr/subaru_csr/stakeholder/)\n  * [ Mitigating Climate Change > External Partnerships ](/en/csr/environment/climaticvariation.html?id=a0610)\n\n  \n5\\. Stakeholder engagement  \n2-29  |  Approach to stakeholder engagement  | \n\n  * [ Stakeholder Engagement ](/en/csr/subaru_csr/stakeholder/)\n\n  \n2-30  |  Collective bargaining agreements  | \n\n  * [ Labor-Management Communication ](/en/csr/social/resources/communication.html)\n\n  \nGRI 3: Material Topics 2021  \n3-1  |  Process to determine material topics  | \n\n  * [ Identification Process for the Six Priority Areas for Sustainability ](/en/csr/subaru_csr/sixpriority/index.html?id=a0001)\n\n  \n3-2  |  List of material topics  | \n\n  * [ Six Priority Areas for Sustainability ](/en/csr/subaru_csr/sixpriority/)\n  * [ Activities in the Six Priority Areas for Sustainability in Relation to the SDGs ](/en/csr/subaru_csr/sixpriority/index.html?id=a01)\n\n  \n3-3  |  Management of material topics  | \n\n  * [ Sustainability Promotion System ](/en/csr/subaru_csr/organization.html)\n  * [ Six Priority Areas for Sustainability ](/en/csr/subaru_csr/sixpriority/)\n  * [ Activities in the Six Priority Areas for Sustainability in Relation to the SDGs ](/en/csr/subaru_csr/sixpriority/index.html?id=a01)\n\n  \n  \n##  Topic-specific Standards\n\nItem Number  |  Disclosure  |  Corresponding Sections   \n---|---|---  \nGRI 200: Economic  \n201: Economic Performance 2016  \n201-1  |  Direct economic value generated and distributed  | \n\n  * [ Annual Securities Report and Internal Controls Report for the 93rd Period P.76-82 [Consolidated Financial Statements] (Japanese version only) ](//www.subaru.co.jp/ir/library/pdf/ms/ms_93.pdf)\n  * [ Annual Securities Report and Internal Controls Report for the 93rd Period P.30 [Analysis of Financial Position, Business Performance, and Cash Flows by Top Management] (Japanese version only) ](//www.subaru.co.jp/ir/library/pdf/ms/ms_93.pdf)\n\n  \n201-2  |  Financial implications and other risks and opportunities due to climate change  | \n\n  * [ Mitigating Climate Change ](/en/csr/environment/climaticvariation.html)\n\n  \n201-3  |  Defined benefit plan obligations and other retirement plans  | \n\n  * [ Annual Securities Report and Internal Controls Report for the 93rd Period P.89 [Notes to Consolidated Financial Statements] (Japanese version only) ](https://www.subaru.co.jp/ir/library/pdf/ms/ms_93.pdf)\n\n  \n201-4  |  Financial assistance received from government  | \n\n  * [ Annual Securities Report and Internal Controls Report for the 93rd Period P.41 [Corporate Information] (Japanese version only) ](https://www.subaru.co.jp/ir/library/pdf/ms/ms_93.pdf)\n  * [ Annual Securities Report and Internal Controls Report for the 93rd Period P.76-82 [Consolidated Financial Statements] (Japanese version only) ](https://www.subaru.co.jp/ir/library/pdf/ms/ms_93.pdf)\n\n  \n202: Market Presence 2016  \n202-1  |  Ratios of standard entry level wage by gender compared to local minimum wage  | \n\n  * [ Human Rights Policy Appendix ](/en/csr/social/human_rights.html?id=a0102)\n\n  \n202-2  |  Proportion of senior management hired from the local community  |  \\-   \n203: Indirect Economic Impacts 2016  \n203-1  |  Infrastructure investments and services supported  |  \\-   \n203-2  |  Significant indirect economic impacts  |  \\-   \n204: Procurement Practices 2016  \n204-1  |  Proportion of spending on local suppliers  |  \\-   \n205: Anti-corruption 2016  \n205-1  |  Operations assessed for risks related to corruption  | \n\n  * [ Bribery Prevention ](/en/csr/governance/compliance.html?id=a0303)\n\n  \n205-2  |  Communication and training about anti-corruption policies and procedures  | \n\n  * [ SUBARU Supplier CSR Guidelines ](/en/csr/social/procurement.html?id=a0302)\n  * [ Compliance > Initiatives > Training ](/en/csr/governance/compliance.html?id=a03)\n\n  \n205-3  |  Confirmed incidents of corruption and actions taken  |  N/A   \n206: Anti-compretitive Behavior 2016  \n206-1  |  Legal actions for anti-competitive behavior, antitrust, and monopoly practices  |  N/A   \n207: Tax 2019  \n207-1  |  Approach to tax  |  [ Tax Policy ](/en/csr/governance/compliance.html?id=a0304)  \n207-2  |  Tax governance, control, and risk management  |  [ Tax Policy ](/en/csr/governance/compliance.html?id=a0304)  \n207-3  |  Stakeholder engagement and management of concerns related to tax  |  [ Tax Policy ](/en/csr/governance/compliance.html?id=a0304)  \n207-4  |  Country-by-country reporting  |  \\-   \nGRI 300: Environmental  \n301: Materials 2016  \n301-1  |  Materials used by weight or volume  | \n\n  * [ SUBARU Group Material Flow ](/en/csr/environment/management.html?id=a06)\n\n  \n301-2  |  Recycled input materials used  | \n\n  * [ Achieving a Circular Economy ](/en/csr/environment/recyclingsociety.html)\n\n  \n301-3  |  Reclaimed products and their packaging materials  | \n\n  * [ Achieving a Circular Economy > Site Initiatives, Sales Initiatives, Logistics Initiatives ](/en/csr/environment/recyclingsociety.html?id=a05)\n\n  \n302: Energy 2016  \n302-1  |  Energy consumption within the organization  | \n\n  * [ SUBARU Group Material Flow ](/en/csr/environment/management.html?id=a06)\n\n  \n302-2  |  Energy consumption outside of the organization  |  \\-   \n302-3  |  Energy intensity  |  \\-   \n302-4  |  Reduction of energy consumption  | \n\n  * [ Mitigating Climate Change ](/en/csr/environment/climaticvariation.html)\n\n  \n302-5  |  Reductions in energy requirements of products and services  | \n\n  * [ Mitigating Climate Change ](/en/csr/environment/climaticvariation.html)\n\n  \n303: Water and Effluents 2018  \n303-1  |  Interactions with water as a shared resource  | \n\n  * [ Water Resources ](/en/csr/environment/waterresources.html)\n\n  \n303-2  |  Management of water discharge-related impacts  | \n\n  * [ Water Resources > Management System > Risk Management ](/en/csr/environment/waterresources.html?id=a0201)\n\n  \n303-3  |  Water withdrawal  | \n\n  * [ Water Consumption by Source ](/en/csr/environment/waterresources.html?id=a0302)\n\n  \n303-4  |  Water discharge  |  \\-   \n303-5  |  Water consumption  | \n\n  * [ Water Consumption ](/en/csr/environment/waterresources.html?id=a0301)\n\n  \n304: Biodiversity 2016  \n304-1  |  Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas  |  N/A   \n304-2  |  Significant impacts of activities, products, and services on biodiversity  |  \\-   \n304-3  |  Habitats protected or restored  | \n\n  * [ Coexistence with Nature > Initiatives > Overseas ](/en/csr/environment/biodiversity.html?id=a0302)\n\n  \n304-4  |  IUCN Red List species and national conservation list species with habitats in areas affected by operations  |  \\-   \n305: Emissions 2016  \n305-1  |  Direct (Scope 1) GHG emissions  | \n\n  * [ Mitigating Climate Change > Initiatives, Site Initiatives ](/en/csr/environment/climaticvariation.html?id=a0502)\n\n  \n305-2  |  Energy indirect (Scope 2) GHG emissions  | \n\n  * [ Mitigating Climate Change > Initiatives, Site Initiatives ](/en/csr/environment/climaticvariation.html?id=a0502)\n\n  \n305-3  |  Other indirect (Scope 3) GHG emissions  | \n\n  * [ Mitigating Climate Change > Initiatives ](/en/csr/environment/climaticvariation.html?id=a0502)\n\n  \n305-4  |  GHG emissions intensity  |  \\-   \n305-5  |  Reduction of GHG emissions  | \n\n  * [ Mitigating Climate Change ](/en/csr/environment/climaticvariation.html)\n\n  \n305-6  |  Emissions of ozone-depleting substances (ODS)  |  \\-   \n305-7  |  Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions  | \n\n  * [ Prevention of Pollution > Initiatives > NOx and SOx Emissions ](/en/csr/environment/prevention.html?id=a02005)\n\n  \n306: Waste 2020  \n306-1  |  Waste generation and significant waste-related impacts  | \n\n  * [ Achieving a Circular Economy ](/en/csr/environment/recyclingsociety.html)\n\n  \n306-2  |  Management of significant wasterelated impacts  | \n\n    * [ Achieving a Circular Economy ](/en/csr/environment/recyclingsociety.html)\n\n  \n306-3  |  Waste generated  | \n\n  * [ Waste Generation ](/en/csr/environment/recyclingsociety.html?id=a0501)\n\n  \n306-4  |  Waste diverted from disposal  | \n\n  * [ Amount of Waste Generated and Processed ](/en/csr/environment/recyclingsociety.html?id=a0502)\n  * [ Procurement Initiatives ](/en/csr/environment/recyclingsociety.html?id=a08)\n\n  \n306-5  |  Waste directed to disposal  | \n\n  * [ Amount of Waste Generated and Processed ](/en/csr/environment/recyclingsociety.html?id=a0502)\n\n  \n308: Supplier Environmental Assessment 2016  \n308-1  |  New suppliers that were screened using environmental criteria  | \n\n  * [ Environmental Policy Initiatives for Business Partners ](/en/csr/social/procurement.html?id=a0304)\n  * [ SUBARU Green Procurement Guideline ](/en/csr/social/procurement.html?id=a0305)\n\n  \n308-2  |  Negative environmental impacts in the supply chain and actions taken  | \n\n  * [ Business Partner CSR Briefing and CSR Survey > Climate Change Initiatives ](/en/csr/social/procurement.html?id=a0307)\n  * [ Management and Reduction of Environmentally Hazardous Substances Contained in Parts ](/en/csr/social/procurement.html?id=a0306)\n  * [ Procurement with Consideration for Biodiversity ](/en/csr/social/procurement.html?id=a0308)\n\n  \nGRI 400: Social  \n401: Employment 2016  \n401-1  |  New employee hires and employee turnover  | \n\n  * [ Employee Data ](/en/csr/social/resources/data.html)\n\n  \n401-2  |  Benefits provided to full-time employees that are not provided to temporary or part-time employees  |  \\-   \n401-3  |  Parental leave  | \n\n  * [ Systems and Initiatives for Childcare Leave ](/en/csr/social/resources/balance.html?id=a020701)\n\n  \n402: Labor / Management Relations 2016  \n402-1  |  Minimum notice periods regarding operational changes  |  \\-   \n403: Occupational Health and Safety 2018  \n403-1  |  Occupational health and safety management system  | \n\n  * [ Occupational Health and Safety > Our Approach/Management System ](/en/csr/social/resources/safety.html?id=a01)\n\n  \n403-2  |  Hazard identification, risk assessment, and incident investigation  | \n\n  * [ Occupational Health and Safety > Initiatives > Prevention of Industrial Accidents ](/en/csr/social/resources/safety.html?id=a0301)\n\n  \n403-3  |  Occupational health services  | \n\n  * [ Occupational Health and Safety > Initiatives ](/en/csr/social/resources/safety.html?id=a03)\n\n  \n403-4  |  Worker participation, consultation, and communication on occupational health and safety  | \n\n  * [ Labor-Management Communication ](/en/csr/social/resources/communication.html)\n  * [ Occupational Health and Safety > Management System ](/en/csr/social/resources/safety.html?id=a02)\n\n  \n403-5  |  Worker training on occupational health and safety  | \n\n  * [ Occupational Health and Safety > Initiatives > Prevention of Industrial Accidents ](/en/csr/social/resources/safety.html?id=a0301)\n\n  \n403-6  |  Promotion of worker health  | \n\n  * [ Health Management ](/en/csr/social/resources/health.html)\n\n  \n403-7  |  Prevention and mitigation of occupational health and safety impacts directly linked by business relationships  | \n\n  * [ Occupational Health and Safety > Initiatives > Prevention of Industrial Accidents > Unifying Initiatives at the Group Level ](/en/csr/social/resources/safety.html?id=a030101)\n\n  \n403-8  |  Workers covered by an occupational health and safety management system  | \n\n  * [ Occupational Health and Safety > Management System ](/en/csr/social/resources/safety.html?id=a02)\n\n  \n403-9  |  Work-related injuries  | \n\n  * [ Occurrence of Work Related Accidents and Accident Frequency Rate ](/en/csr/social/resources/safety.html?id=a030402)\n\n  \n403-10  |  Work-related ill health  |  \\-   \n404: Training and Education 2016  \n404-1  |  Average hours of training per year per employee  | \n\n  * [ Human Resource Development > Career Development > Training Results ](/en/csr/social/resources/?id=a0302)\n\n  \n404-2  |  Programs for upgrading employee skills and transition assistance programs  | \n\n  * [ Human Resource Development > Career Development ](/en/csr/social/resources/?id=a0301)\n\n  \n404-3  |  Percentage of employees receiving regular performance and career development reviews  | \n\n  * [ Human Resource Development > Career Development > Career Development Support ](/en/csr/social/resources/?id=a0303)\n\n  \n405: Diversity and Equal Opportunity 2016  \n405-1  |  Diversity of governance bodies and employees  | \n\n  * [ Directors of the Board / Executive Officers ](https://www.subaru.co.jp/en/outline/profile.html?id=officer)\n  * [ Employee Data ](/en/csr/social/resources/data.html)\n\n  \n405-2  |  Ratio of basic salary and remuneration of women to men  | \n\n  * [ Comparison of Fixed Wages between Male and Female Employees ](/en/csr/social/resources/data.html?id=a01-6)\n\n  \n406: Non-discrimination 2016  \n406-1  |  Incidents of discrimination and corrective actions taken  |  \\-   \n407: Freedom of Association and Collective Bargaining 2016  \n407-1  |  Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk  |  \\-   \n408: Child Labor 2016  \n408-1  |  Operations and suppliers at significant risk for incidents of child labor  |  N/A   \n409: Forced or Compulsory Labor 2016  \n409-1  |  Operations and suppliers at significant risk for incidents of forced or compulsory labor  |  N/A   \n410: Security Practices 2016  \n410-1  |  Security personnel trained in human rights policies or procedures  |  \\-   \n411: Rights of Indigenous Peoples 2016  \n411-1  |  Incidents of violations involving rights of indigenous peoples  |  N/A   \n413: Local Communities 2016  \n413-1  |  Operations with local community engagement, impact assessments, and development programs  |  [ Community Engagement ](/en/csr/social/contribution/)  \n413-2  |  Operations with significant actual and potential negative impacts on local communities  |  \\-   \n414: Supplier Social Assessment 2016  \n414-1  |  New suppliers that were screened using social criteria  | \n\n  * [ SUBARU Supplier CSR Guidelines ](/en/csr/social/procurement.html?id=a0302)\n\n  \n414-2  |  Negative social impacts in the supply chain and actions taken  | \n\n  * [ Business Partner CSR Briefing and CSR Survey ](/en/csr/social/procurement.html?id=a0303)\n  * [ Responsible Mineral Procurement ](/en/csr/social/procurement.html?id=a05)\n\n  \n415: Public Policy 2016  \n415-1  |  Political contributions  | \n\n  * [ Compliance > Political Donations ](/en/csr/governance/compliance.html?id=a0305)\n\n  \n416: Customer Health and Safety 2016  \n416-1  |  Assessment of the health and safety impacts of product and service categories  | \n\n  * [ Making Safe Vehicles > Initiatives ](/en/csr/social/car_making/?id=a03)\n\n  \n416-2  |  Incidents of non-compliance concerning the health and safety impacts of products and services  |  N/A   \n417: Marketing and Labeling 2016  \n417-1  |  Requirements for product and service information and labeling  |  \\-   \n417-2  |  Incidents of non-compliance concerning product and service information and labeling  | \n\n  * [ Quality: Automotive Business ](/en/csr/social/quality_automobile.html)\n  * [ Quality: Aerospace Business ](/en/csr/social/quality_aerospace.html)\n\n  \n417-3  |  Incidents of non-compliance concerning marketing communications  |  N/A   \n418: Customer Privacy 2016  \n418-1  |  Substantiated complaints concerning breaches of customer privacy and losses of customer data  |  N/A   \n  \n  * [ Privacy Policy ](/en/privacy.html)\n  * [ Cookie Policy ](/en/assistance.html)\n  * [ Media ](/en/media/)\n\nPAGE TOP\n\nPAGE TOP\n\n[ \u00a9SUBARU CORPORATION  ](/en/copyright/)\n\n",
                "url": "https://www.subaru.co.jp/en/csr/iso26000.html"
            },
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            "summary": "This is the official Subaru CSR page, detailing their commitment to ISO 26000 standards, which includes human rights considerations in their supply chain.",
            "url": "https://www.subaru.co.jp/en/csr/iso26000.html"
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                    "source": "https://popcenter.harvard.edu/harvard-research/harvard-research-resources/resources-for-measuring-well-being/measuring-well-being-at-work/"
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                "page_content": "Skip to main content  arrow_circle_down\n\n#  Measuring Well-Being at Work\n\nNumerous scales have been developed to measure **workplace well-being** .\nDifferent scales focus on different aspects of well-being, ranging from\nindividual aspects of worker well-being (e.g., satisfaction) to factors\nrelated to well-being (e.g., burnout). Other scales assess potential sources\nof well-being in the workplace (i.e., factors that are likely to promote\nemployee\u2019s well-being). Some measures are even more comprehensive and assess\nnot only individual levels of well-being, but also organizational climate,\norganizational practices, and other aspects of an individual\u2019s mental and\nphysical health.\n\nThe following list represents **examples** of scales to measure **well-being\nat work** .\n\n##  Scales for Measuring Well-Being at Work\n\n###\n\n**Citation:**\n\nDaniels, K. (2000). Measures of five aspects of affective well-being at work.\nHuman Relations, 53(2), 275-294. **Short-form:** Russell, E., Daniels, K.\n(2018). Measuring affective well-being at work using short-form scales:\nImplications for affective structures and participant instructions. Human\nRelations, 71(11), 1478-1507. **PMID or DOI:** PMID: [ 30270934\n](https://pubmed.ncbi.nlm.nih.gov/30270934/) **Main positive psychological\nwell-being construct measured:** Affective well-being **Sub-constructs\nmeasured:** N/A **Available subscales:** bi-polar scales: anxiety-comfort,\ndepression-pleasure, bored-enthusiastic, tiredness-vigour, angry-placid\n**Description:** The five-factor model of affective well-being was originally\ndeveloped as a 30-item scale to measure five dimensions of affective well-\nbeing in the work context: anxiety-comfort (AC), depression-pleasure (DP),\nbored-enthusiastic (BE), tiredness-vigour (TV), and angry-placid (AP). The\n10-item short-form contains one positively and negatively valenced term for\neach of the original five factors. **Number of items:** Original: 30 items;\nShort-form: 10 items **Example of statement/item:**\n\n  1. **Original:** \u201cThinking of the past week, how much of the time has your job made you feel each of the following? (e.g., anxious, cheerful, sluggish, active, aggressive, patient) \n  2. **Short-form:** \u201cIn the section below, please indicate how you feel right now, that is, at the present moment\u201d (e.g., happy, at ease, annoyed, motivated, tired, gloomy, active) \n\n**Response options:**\n\n  1. **Original:** 6-point Likert scale ranging from 1 \u201cnever\u201d to 6 \u201call of the time\u201d \n  2. **Short-form:** 6-point Likert scale ranging from 1 \u201cnot at all\u201d to 6 \u201cvery much\u201d \n\n**Total score:**\n\nA mean score for each scale is found by reverse scoring each of the negative\nadjectives, adding each response, and dividing by the number of responses.\nHigher scores on each scale indicates higher affective well-being. **Examples\nof studies:**\n\n  1. Rego, Arm\u00e9nio, Sousa, Filipa, Marques, Carla, & Cunha, Miguel Pina e. (2012). Optimism predicting employees\u2019 creativity: The mediating role of positive affect and the positivity ratio. European Journal of Work and Organizational Psychology, 21(2), 244-270. \n  2. Page, K. M., & Vella-Brodrick, D. A. (2013). The working for wellness program: RCT of an employee well-being intervention. Journal of Happiness Studies: An Interdisciplinary Forum on Subjective Well-Being, 14(3), 1007\u20131031. \n\n###\n\n**Citation:**\n\nVan Katwyk, P. T., Fox, S., Spector, P. E., & Kelloway, E. K. (2000). Using\nthe Job-related Affective Well-being Scale (JAWS) to investigate affective\nresponses to work stressors. Journal of Occupational Health Psychology, 5,\n219-230. **PMID or DOI:** DOI: [ 10.1037//1076-8998.5.2.219\n](https://psycnet.apa.org/doi/10.1037/1076-8998.5.2.219) **Main positive\npsychological well-being construct measured:** job-related affective well-\nbeing **Sub-constructs measured:** N/A **Available subscales:**\n\n  1. Four categories: high arousal, low arousal, pleasurable, displeasurable \n  2. The five most extreme items were placed into each subscale: high pleasure high arousal, (ecstatic, enthusiastic, excited, energetic, inspired); high pleasure low arousal, (satisfied, content, at ease, relaxed, calm); low pleasure high arousal, (furious, angry, frightened, anxious, disgusted); and low pleasure low arousal, (depressed, discouraged, gloomy, fatigued, bored). \n\n**Description:**\n\nThe Job-Related Affective Well-Being Scale (JAWS) aims to measure pure,\ncontext specific affect and covers a wide range of affective responses in\norder to distinguish patterns of affective experience (i.e.,\nnegatively/positively valanced responses at high or low arousal levels). The\n30 items refer to either pleasurable or displeasurable affect (15 items each).\n**Number of items:** 30 **Example of statement/item:** \u201cMy job made me feel at\nease\u201d, \u201cMy job made me feel elated\u201d, My job made me feel angry\u201d, My job made\nme feel depressed\u201d **Response options:** Participants are asked to indicate\nthe amount to which any part of their job has made them feel the specified\nemotion in the past 30 days. Participants indicate their response using a\n5-point scale ranging from 1\u201dnever\u201d to 5 \u201cextremely often or always\u201d **Total\nscore:** Five scores were derived from the JAWS. For the overall job-related\naffective well-being score, the displeasurable items were reverse coded and\nadded to the scores on all the pleasurable items. A high score on the\nresulting summation represents a high level of overall job-related affective\nwell-being. **Examples of Studies:**\n\n  1. Weziak-Bialowolska, D., Bialowolski, P., VanderWeele, T. J., & McNeely, E. (2021). Character Strengths Involving an Orientation to Promote Good Can Help Your Health and Well-Being. Evidence From two Longitudinal Studies. American journal of health promotion : AJHP, 35(3), 388\u2013398. \n  2. Thogersen-Ntoumani, C., Black, J., Lindwall, M., Whittaker, A., & Balanos, G. M. (2017). Presenteeism, stress resilience, and physical activity in older manual workers: A person-centered analysis. European Journal of Ageing, 14(4), 385\u2013396. \n  3. Armon, G., Melamed, S., Berliner, S., & Shapira, I. (2014). High arousal and low arousal work-related positive affects and basal cardiovascular activity. The Journal of Positive Psychology, 9(2), 146\u2013154. \n  4. Shirom, A., Melamed, S., Berliner, S., & Shapira, I. (2009). Aroused versus calm positive affects as predictors of lipids. Health psychology : official journal of the Division of Health Psychology, American Psychological Association, 28(6), 649\u2013659. \n\n###\n\n**Citation:**\n\nPeter Warr. (1990) The measurement of wellbeing and other aspects of mental\nhealth. Journal of Occupational Psychology, 63, 193-210. **PMID or DOI:** DOI:\n[ 10.1111/j.2044-8325.1990.tb00521.x\n](https://psycnet.apa.org/doi/10.1111/j.2044-8325.1990.tb00521.x) **Main\npositive psychological well-being construct measured:** Affective well-being\n**Sub-constructs measured:** Anxiety, comfort (labelled earlier contentment),\ndepression, enthusiasm, competence, aspiration, negative job carry-over\n**Available subscales:** job-related affective well-being job-related anxiety-\ncontentment (6 items) job-related depression-enthusiasm (6 items) non-job-\nrelated affective well-being non-job-related anxiety-contentment (6 items)\nnon-job-related depression-enthusiasm (6 items) competence reported job\ncompetence *read resilience* (6 items) non-job-related competence *read\nresilience* (6 items) aspiration reported job aspiration (6 items) non-job-\nrelated aspiration (6 items) negative job carry-over (4 items)\n**Description:** This measure assesses two axes of affective well-being: job-\nrelated and non-job related mental health, based upon dimensions of pleasure\nand arousal, competence, aspiration and negative job carry\u2010over. **Number of\nitems:** 52 **Example of statement/item:** \u201cThinking of the past few weeks,\nhow much of the time has your job made you feel each of the following? (e.g.,\ntense, uneasy, worried, calm, contented, relaxed) \u201cIn the past few weeks, how\nmuch of the time in your life outside your job have you felt each of the\nfollowing? (e.g., depressed, gloomy, miserable, cheerful, enthusiastic,\noptimistic) \u201cPlease rate how strongly you agree or disagree with the following\nstatements\u201d: I can do my job well; I enjoy doing things in my job; I find it\ndifficult to unwind at the end of a work day **Response options:** For the job\nand non-job related affective well-being sections, the answer options were\n\u201cnever, occasionally, some of the time, much of the time, most of the time,\nall of the time\u201d, scored 1-6 respectively. For the job and non-job related\ncompetence, aspiration, and negative job carry-over sections, the answer\noptions are \u201cstrongly disagree, disagree, neither disagree nor agree, agree,\nstrongly agree\u201d, scored 1-5 respectively. Total score: A mean score for each\nscale is found by reverse scoring each of the negative adjectives, adding each\nresponse, and dividing by the number of responses. Higher scores on each scale\nindicates higher affective well-being in that category. **Examples of\nstudies:**\n\n  1. Daniels, K., & Guppy, A. (1994). Occupational stress, social support, job control, and psychological well-being. Human Relations, 47(12), 1523\u20131544. \n  2. Kompier, M. A., Taris, T. W., & van Veldhoven, M. (2012). Tossing and turning\u2013insomnia in relation to occupational stress, rumination, fatigue, and well-being. Scandinavian journal of work, environment & health, 38(3), 238\u2013246. \n  3. Jones, M.K., Latreille, P.L. and Sloane, P.J. (2016), Job Anxiety, Work-Related Psychological Illness and Workplace Performance. British Journal of Industrial Relations, 54: 742-767. \n\n###\n\n**Citation:**\n\nDagenais-Desmarais, V., Savoie, A. What is Psychological Well-Being, Really? A\nGrassroots Approach from the Organizational Sciences. J Happiness Stud 13,\n659\u2013684 (2012). **PMID or DOI:** DOI: [ 10.1007/s10902-011-9285-3\n](https://doi.org/10.1007/s10902-011-9285-3) **Main positive psychological\nwell-being construct measured:** psychological well-being at work **Sub-\nconstructs measured:** N/A **Available subscales:** Interpersonal Fit at Work,\nThriving at Work, Feeling of Competency at Work, Desire for Involvement at\nWork, and Perceived Recognition at Work **Description:** The Index of\nPsychological Well-Being at Work is an 80-item scale consisting of five\nfactors: (1) Interpersonal Fit at Work, (2) Thriving at Work, (3) Feeling of\nCompetency at Work, (4) Perceived Recognition at Work, (5) Desire for\nInvolvement at Work. **Number of items:** 80 **Example of statement/item:**\nInterpersonal fit at work: \u201cI enjoy working with the people at my job.\u201d;\nthriving at work: \u201cI find meaning in my work.\u201d; feeling of competency at work:\n\u201cI feel that I know what to do in my job.\u201d; perceived recognition at work: \u201cI\nknow that people believe in the projects I work on.\u201d; desire for involvement\nat work: \u201cI want to contribute to achieving the goals of my organization.\u201d\n**Response options:** Participants indicate their response using a 6-point\nscale ranging from 0 \u201cdisagree\u201d to 5 \u201ccompletely agree\u201d. The instructions ask\nthe participant to consider their work during the last 4 weeks and indicate to\nwhat extent they agree with each item. **Total score:** Average scores may be\nderived by each dimension or as a total combined score. **Examples of\nstudies:**\n\n  1. Dagenais-Desmarais, V., Leclerc, J.-S., & Londei-Shortall, J. (2018). The relationship between employee motivation and psychological health at work: A chicken-and-egg situation? Work & Stress, 32(2), 147\u2013167. \n  2. Gilbert, M., Dagenais-Desmarais, V., & St-Hilaire, F. (2017). Transformational leadership and autonomy support management behaviors: The role of specificity in predicting employees\u2019 psychological health. Leadership & Organization Development Journal, 38(2), 320-332. \n  3. Royer, N., & Moreau, C. (2016). A survey of Canadian early childhood educators\u2019 psychological wellbeing at work. Early Childhood Education Journal, 44(2), 135\u2013146. \n\n###\n\n**Citation:**\n\nPorath, C., Spreitzer, G., Gibson, C. and Garnett, F.G. (2012), Thriving at\nwork: Toward its measurement, construct validation, and theoretical\nrefinement. J. Organiz. Behav., 33: 250-275. **PMID or DOI:** DOI: [\n10.1002/job.756 ](https://doi.org/10.1002/job.756) **Main positive\npsychological well-being construct measured:** Individual thriving at work\n**Sub-constructs measured:** N/A **Available subscales:** (1) Learning (i.e.,\nan individual\u2019s subjective experience of learning, rather than learning\nperformance, behavior, or difference): 5 items; (2) Vitality (i.e., the state\nof having energy available ready for use): 5 items **Description:** This\n10-item scale measures thriving at work, which is defined as the psychological\nstate in which individuals experience both a sense of vitality and learning.\n**Number of items:** 10 **Example of statement/item:** Vitality: \u201cI feel alive\nand vital\u201d; Learning: \u201cI see myself continually improving\u201d, \u201cI do not feel\nvery energetic\u201d **Response options:** Participants indicate their response\nusing a 7-point scale randing from 1 \u201cstrongly disagree to 7 \u201cstrongly agree\u201d\n**Total score:** Add up total points for each section (Vitality and Learning)\nand divide by 10 for the 10 total items **Examples of studies:**\n\n  1. Walumbwa, Fred O, Muchiri, Michael K, Misati, Everlyne, Wu, Cindy, & Meiliani, Meiliani. (2018). Inspired to perform: A multilevel investigation of antecedents and consequences of thriving at work. Journal of Organizational Behavior, 39(3), 249-261. \n  2. Kaltenbrunner, M., Bengtsson, L., Mathiassen, S. E., H\u00f6gberg, H., & Engstr\u00f6m, M. (2019). Staff perception of Lean, care-giving, thriving and exhaustion: a longitudinal study in primary care. BMC health services research, 19(1), 652. \n  3. Yi-Feng Chen, N., Crant, J. M., Wang, N., Kou, Y., Qin, Y., Yu, J., & Sun, R. (2021). When there is a will there is a way: The role of proactive personality in combating COVID-19. Journal of Applied Psychology, 106(2), 199\u2013213. \n\n###\n\n**Citation:**\n\nParker GB, Hyett MP. Measurement of well-being in the workplace: the\ndevelopment of the work well-being questionnaire. J Nerv Ment Dis.\n2011;199(6):394-397. **PMID or DOI:** DOI: [ 10.1097/NMD.0b013e31821cd3b9\n](https://doi.org/10.1097/nmd.0b013e31821cd3b9) **Main positive psychological\nwell-being construct measured:** Workplace Wellbeing **Sub-constructs\nmeasured:** \u2018Work Satisfaction,\u2019\u2019 \u2018\u2018Organizational Respect for the Employee,\u2019\u2019\n\u2018\u2018Employer Care,\u2019\u2019 and a negative construct \u2018\u2018Intrusion of Work into Private\nLife.\u2019\u2019 **Available subscales:** N/A **Description:** This workplace and\nsatisfaction measure was the first of its kind to be developed to measure\nworkplace wellbeing with the Workplace Wellbeing Questionnaire (WWQ). **Number\nof items:** Original: 31-item measure **Example of statement/item:** Is your\nwork fulfilling? Do you feel that your organization respects the staff? Does\nyour work eat into your private life? **Response options:** The participants\nwere asked to rate the items that best represented their current and most\nrelevant work situation on a 5-point scale: 0, not at all; 1, slightly; 2,\nmoderately; 3,very; and 4, extremely true. **Total score:** The scoring for\neach factor involved summing the scores from each item (Note: reverse score\none item for the \u2018\u2018Intrusion of Work into Private Life\u2019\u2019 factor). **Examples\nof studies:**\n\n  1. Patel, Ashwini Kumar, Banga, Chavinoor, & Chandrasekaran, Baskaran. (n.d.). Effect of an education-based workplace intervention (move in office with education) on sedentary behaviour and well-being in desk-based workers: A cluster randomized controlled trial. International Journal of Occupational Safety and Ergonomics, Ahead-of-print(Ahead-of-print), 1-9. \n  2. Janicke, S. H., Rieger, D., Reinecke, L., & Connor, W., III. (2018). Watching online videos at work: The role of positive and meaningful affect for recovery experiences and well-being at the workplace. Mass Communication & Society, 21(3), 345\u2013367. \n\n###\n\n**Citation:**\n\nZheng, X., Zhu, W., Zhao, H., Zhang, C. (2015). Employee well-being in\norganizations: Theoretical model, scale development, and cross-cultural\nvalidation. Journal of Organizational Behavior, 36, 621-644. **PMID or DOI:**\nDOI: [ 10.1002/job.1990 ](https://doi.org/10.1002/job.1990) **Main positive\npsychological well-being construct measured:** Employee well-being **Sub-\nconstructs measured:** life well-being, workplace well-being, psychological\nwell-being **Available subscales:** Life Well-Being (LWB), Work Well-Being\n(WWB), Psychological Well-Being (PWB) **Description:** The Employee Well-Being\nScale is an 18-item scale comprised of three facets of well-being: life well-\nbeing (LWB), work well-being (WWB), and psychological well-being (PWB) and\ncontains 6 items for each domain. **Number of items:** 18 **Example of\nstatement/item:** LWB \u2013 \u201cI am close to my dream in most aspects of my life\u201d\nand \u201cMy life is fun\u201d; WWB \u2013 \u201cI find real enjoyment in my work\u201d and \u201cIn\ngeneral, I feel fairly satisfied with my present job\u201d; PWB \u2013 \u201cI generally feel\ngood about myself and I\u2019m confident\u201d and \u201cI handle daily affairs well\u201d\n**Response options:** Original: 6-point Likert scale ranging from 1 \u201cnever\u201d to\n6 \u201call of the time\u201d **Short-form:** 6-point Likert scale ranging from 1\n\u201cstrongly disagree\u201d to 7 \u201cstrongly agree\u201d **Total score:** A mean score for\neach scale is found by adding each response, and dividing by the number of\nresponses. **Example of Studies:**\n\n  1. Bayhan Karapinar, P., Metin Camgoz, S. & Tayfur Ekmekci, O. Employee Wellbeing, Workaholism, Work\u2013Family Conflict and Instrumental Spousal Support: A Moderated Mediation Model. J Happiness Stud 21, 2451\u20132471 (2020). \n  2. Wolff, M. B., O\u2019Connor, P. J., Wilson, M. G., & Gay, J. L. (2021). Associations Between Occupational and Leisure-Time Physical Activity With Employee Stress, Burnout and Well-Being Among Healthcare Industry Workers. American journal of health promotion : AJHP, 8901171211011372. Advance online publication. \n\n###\n\nThe National Institute for Occupational Safety and Health (NIOSH) recently\npublished the Worker Well-Being Questionnaire (WellBQ), administered to\nworkers, designed to provide an integrated, holistic assessment of a worker\u2019s\nsocial environment, workplace conditions, and well-being. It is comprised of\nfive domains: (1) work evaluation and experience; (2) workplace policies and\nculture; (3) workplace physical environment and safety climate; (4) health\nstatus; and (5) home, community, and society. See the links below for detailed\ninformation about the measure. [ Background Information\n](https://www.cdc.gov/niosh/twh/wellbq/default.html) [ Instrument\n](https://www.cdc.gov/niosh/docs/2021-110/pdf/2021-110revised052021.pdf?id=10.26616/NIOSHPUB2021110revised52021)\n\n_ Last updated: August 2023  _\n\n[ ](/)\n\nSocial\n\n  * [ Facebook  ](http://facebook.com/harvardpopcenter)\n  * [ Twitter  ](http://twitter.com/HarvardPopCtr)\n  * [ Linkedin  ](https://www.linkedin.com/showcase/harvard-center-for-population-and-development-studies/)\n  * [ Youtube  ](http://youtube.com/harvardpopcenter)\n\n[ Admin login ](https://sites.harvard.edu/population-development/wp-\nlogin.php?action=shibboleth)\n\n[ ](https://www.harvard.edu)\n\nCopyright \u00a9 2025 The President and Fellows of Harvard College\n\n[ Accessibility ](https://accessibility.harvard.edu/) [ Digital Accessibility\n](https://accessibility.huit.harvard.edu/digital-accessibility-policy) [\nReport Copyright Infringement ](https://www.harvard.edu/copyright-issue/) [\nInfo Practices ](https://hwp.harvard.edu/harvardsites-platform-information-\ngathering-statement)\n\n",
                "url": "https://popcenter.harvard.edu/harvard-research/harvard-research-resources/resources-for-measuring-well-being/measuring-well-being-at-work/"
            },
            "reason": "This page is from Harvard University's Bloomberg Center for Cities, specifically the Herman Goldstein Award for Excellence in Problem-Oriented Policing. It provides resources for measuring well-being at work, making it a highly reliable source.",
            "reliability_score": 1.0,
            "search_query": "company 'N/A' employee well-being",
            "summary": "This page is from Harvard University's Bloomberg Center for Cities, specifically the Herman Goldstein Award for Excellence in Problem-Oriented Policing. It provides resources for measuring well-being at work, making it a highly reliable source.",
            "url": "https://popcenter.harvard.edu/harvard-research/harvard-research-resources/resources-for-measuring-well-being/measuring-well-being-at-work/"
        },
        {
            "content": {
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                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://annual-report.puma.com/2024/en/combined-management-report/sustainability-statement/governance-information/esrs-g1-business-conduct/index.html"
                },
                "page_content": "#  ESRS G1 Business conduct\n\n##  Governance information\n\n###  ESRS G1  Business conduct\n\n####  Impact, risk and opportunity management and strategy\n\n#####  Material business conduct-related impacts, risks and opportunities\n(IRO-1)\n\nPUMA regularly performs assessments to confirm existing risks or identify new\nrisks and their impact when it comes to business conduct. In considering the\nnature of our business, the locations of our sales entities and sourcing\nfacilities, we focus on the following compliance risks areas: bribery,\ncorruption, money laundering, fraud, conflicts of interest, anti-competitive\nbehaviour, Human Rights violations and environmental damages. When we examine\nthe impact of risks, we look at the impact on our business operations,\nfinancial performance, and reputation. The result of each risk assessment is a\nrisk matrix that we use to prioritise identified risks based on their\nlikelihood and impact. This helps us focus resources on managing the most\ncritical risks. Not only risks are spotted in this process opportunities are\nalso addressed.\n\nIn relation to our business partners with whom we source our core products, we\nidentify risks by conducting thorough due diligence, which involves sanctions\nand reputational checks, sanity checks and examination of their sustainability\npolicies and ethical practices. The level of scrutiny applied to each business\npartner varies and we prioritise the country risk, the industry risk and the\nvolume of the business.\n\nThe details of the process of identification of business conduct-related\nmaterial topics are explained in the  [ General information (IRO-1)\n](/2024/en/combined-management-report/sustainability-statement/general-\ninformation/esrs-2-general-disclosures/index.html#_Process_to_identify)\nsection.\n\nT.74  Material business conduct-related impacts, risks and opportunities\n(IRO-1)\n\nImpacts  |  Actual or potential  |  Time horizon  |  Value chain location   \n---|---|---|---  \nMaterial negative impacts\u00c2  \nCorporate culture  \nUndervaluing the influence of corporate culture on employees and business outcome  |  Potential  |  Short, medium, long term  |  Own operations   \nProtection of whistleblowers\u00c2  \nInsufficient measures to protect whistleblowers leading to a lack of trust  |  Potential  |  Short, medium, long term  |  Own operations   \nManagement of relationships with suppliers including payment practices\u00c2  \nSuppliers may cut corners to meet low-cost demands and tight deadlines, leading to unsafe working conditions  |  Potential  |  Short, medium, long term  |  Upstream   \nDelayed payments or unfair terms can strain suppliers' finances, hinder timely worker payments, and worsen working conditions. Lack of long-term commitments can also lead to job insecurity  |  Potential  |  Short, medium, long term  |  Upstream   \nRisks and opportunities\u00c2  \nRisks  \nManagement of relationships with suppliers including payment practices\u00c2  \nFinancial risk arises from delays in raw material procurement and production, impacting sales, due to inefficient payment practices straining suppliers' finances  |  n/a  |  Short, medium, long term  |  Upstream   \nSuppliers under financial pressure may cut corners, leading to products that do not meet brand quality standards and resulting in rework, returns, and reputational damage  |  n/a  |  Short, medium, long term  |  Upstream   \n|  |  |   \nPoor relationship management can make suppliers less willing to offer favorable terms, share cost-saving opportunities, or accommodate urgent orders if they feel undervalued or insecure, leading to financial risks  |  n/a  |  Short, medium, long term  |  Upstream   \nOver-reliance on a few suppliers can result in higher costs, production delays, quality issues, and disruptions, ultimately damaging the brand's reputation, customer trust, and revenue stability  |  n/a  |  Short, medium, long term  |  Upstream   \nPoor supplier relationships lead to inadequate communication and transparency, which may hinder brands to adhere to trade compliance standards and monitoring practices, resulting in non-compliance and financial risks  |  n/a  |  Short, medium, long term  |  Upstream   \nCorruption and bribery\u00c2  \nReputational risks associated with being linked to corruption cases  |  n/a  |  Short, medium, long term  |  Upstream  \u00e2\u0080\u008e  Own operations   \nOpportunities  \nManagement of relationships with suppliers including payment practices\u00c2  \nFair and timely payments build trust, encouraging suppliers to innovate and invest in new technologies, while long-term relationships give them the confidence to pursue innovative solutions  |  n/a  |  Medium, long term  |  Upstream   \nEnsuring suppliers' financial stability and maintaining regular, transparent communication reduces disruption risks and enhances supply chain resilience  |  n/a  |  Medium, long term  |  Upstream   \n|  |  |   \n  \n#####  The role of the administrative, supervisory and management bodies\n(GOV-1)\n\nAs a company listed in Germany, PUMA adheres to the German Stock Corporation\nAct and the German Corporate Governance Code. PUMA has a dual management\nsystem featuring strict personal and functional separation between the\nManagement Board and the Supervisory Board (two-tier board). Accordingly, the\nManagement Board manages the company while the Supervisory Board monitors and\nadvises the Management Board. PUMA has three bodies: the Management Board, the\nSupervisory Board, and the Annual General Meeting. The Management Board of\nPUMA manages the Company on its own responsibility with the goal of\nsustainable value creation. It develops PUMA's strategic orientation and\ncoordinates it with the Supervisory Board. In addition, it ensures Group-wide\ncompliance with legal requirements and an effective risk management and\ninternal control system.\n\nThe members of the Management Board are appointed by the Supervisory Board.\nThe Supervisory Board of PUMA consists of seven members, five of whom are\nshareholder representatives and two of whom are employee representatives.\nShareholder representatives are being elected individually.\n\nThe Supervisory Board supervises and advises the Management Board on the\nimplementation of the strategy. Supervision and advice also include, core\ncompliance and sustainability issues, which are covered as a cross-sectional\ntask in the Audit Committee and the Sustainability Committee. The Management\nBoard informs the Supervisory Board regularly, promptly, and comprehensively\nabout all issues of relevance to PUMA relating to strategy, planning, business\ndevelopment, the risk situation, risk management and the compliance management\nsystem. PUMA\u00e2\u0080\u0099s sustainability strategy is approved by the Sustainability\nCommittee and the Supervisory Board. It deals with deviations during business\nfrom the established plans and targets, stating the reasons. The Supervisory\nBoard is involved by the Management Board in decisions of paramount importance\nfor the Company and the Supervisory Board needs to approve those decisions.\n\nThe Management Board has put in place a Compliance Management System (CMS) to\nensure good business conduct. It has implemented a Code of Ethics that defines\nthe expectations of the Company regarding good business conduct towards its\nemployees, business partners and stakeholders. The Code of Ethics is part of\nevery employee\u00e2\u0080\u0099s contract and is thus binding for all employees. Through\nclear tone from the top the CEO regularly delivers clear messages on how\nimportant it is to follow the principles of the Code of Ethics. The\nSupervisory Board is informed in its regular quarterly meetings and, if\nnecessary, on an ad-hoc basis about the status of the implementation of the\nCMS.\n\nThe members of the Management Board and the shareholder representatives on the\nSupervisory Board bring a wealth of experience when it comes to expertise in\nbusiness conduct matters. All aforementioned members are seasoned executives\nin C-level positions of international corporations who have been responsible\nfor building structures on good corporate governance throughout their career.\nOn top every training that employees are asked to conduct on a mandatory\nbasis, must be finished by the members of the Management Board.\n\n#####  Business conduct policies and corporate culture (G1-1)\n\nPUMA has established a comprehensive set of policies to guide business conduct\nat a Group-wide level. These policies are designed to ensure that all\nemployees, at every level, uphold the highest standards of integrity,\ntransparency, and ethical behaviour.  The PUMA Code of Ethics, previously\nreferred to in the sections on\u00c2  Policies related to own workforce (S1-1)\u00c2\nand\u00c2  [ Remediation of  n  egative  i  mpacts and  c  hannels to  r  aise  c\noncerns (S1-3)  ](/2024/en/combined-management-report/sustainability-\nstatement/social-information/esrs-s4-consumers-and-end-\nusers/index.html#_Remediation_of_negative) , outlines our commitment to\nethical behaviour, Human Rights, and transparency. It applies globally and is\nrelevant to various stakeholders, including employees and business partners in\nthe supply chain. It promotes brand values and ethical conduct, protects Human\nrights and maintains transparency and accountability. Key areas covered by the\nCode of Ethics and the Group internal policies include: Human Rights\nprotection, occupational health and safety, learn from mistakes, intellectual\nproperty, protection of PUMA assets, sustainability, quality and safety,\nbusiness partners, conflicts of interest, insider trading, anti-money\nlaundering, trade compliance, fair competition, anti-corruption, financial\nintegrity, tax compliance, confidentiality, data privacy, animal welfare and\nSpeakUp.\n\nThe PUMA Code of Ethics helps mitigate several risks like bribery, anti-\ncompetitive behaviour, violations of Human Rights, tax evasion, money\nlaundering etc. It is the basic document employees are asked to turn to\neducate themselves about the values of PUMA. More detailed internal policies\ncomplement the main principles of the Code of Ethics. In incorporating the\nCode of Ethics into the agreements with the business partners and suppliers, a\nstrong relationship is built, and a transparent communication is ensured. The\nCode's anti-corruption measures ensure that PUMA and its partners operate with\nintegrity and transparency, protecting the brand's reputation.\n\nThe policy framework defines zero tolerance issues within the organisation.\nPUMA is committed to adhering to the  [ UN Global Compact principles\n](https://unglobalcompact.org/what-is-gc/mission/principles) related to\ngovernance. The Management Board and especially the CEO is responsible for the\nimplementation of compliance policies. Each compliance policy is approved by\nall members of the Management Board and communicated by the CEO via email to\nall local General Managers responsible for implementation to all employees.\nAll awareness measures on the core compliance risk areas are pre-aligned with\nthe CEO.\n\nTo foster a positive corporate culture, we actively promote these values\nthrough regular trainings according to a training plan agreed with the\nManagement Board, cascading awareness initiatives through posters, leaflets,\nemails, CEO messaging and a leadership team that leads by example. By\nembedding these principles into our daily operations, we aim to create an\nenvironment that encourages trust, accountability, and mutual respect.\n\nThe Management Board and the Supervisory Board are informed quarterly about\ncompliance cases and the implementation status of our CMS.\n\nPUMA behaves in a law-abiding, fair, respectful, and ethical manner towards\nits employees, consumers and business partners. The Compliance Organisation,\nGroup Compliance in the headquarters and Local Compliance Officers in each and\nevery PUMA entity, works together as a team to ensure that all PUMA employees\ncomply with PUMA's values. While PUMA Group Compliance at the headquarters\nsets the baseline, stricter local requirements take precedence, ensuring the\nhighest standards are always met.\n\nPUMA has developed a comprehensive risk assessment framework that incorporates\nkey policies to address various identified risks. The framework aligns with\nour business objectives and regulatory requirements to ensure that all\npotential risks are identified, assessed, and mitigated effectively. Depending\non their exposure to the identified risks, target groups of employees are\nbuilt who receive more intensive training than others. Where external parties\nare involved, measures are taken to ensure that the risk associated with these\nparties is mitigated. This includes contractual clauses, onboarding, due\ndiligence or training. After a policy has been released, related communication\nand training materials are developed to reinforce the understanding of the\nrules of the policy.\n\nInternal controls and procedures ensure efficient operations and minimise\nerrors, fraud and misconduct.\n\nOur Code of Ethics, Anti-corruption and Anti-bribery Policy, and all other\npolicies are in place to ensure we comply with local and international laws\nand regulations. PUMA\u00e2\u0080\u0099s Anti-bribery and Anti-corruption Policy is\nconsistent with the United Nations Convention Against Corruption.  Employees\nare trained on these policies to ensure a thorough understanding of legal\nobligations. These policies mitigate risks related to legal penalties,\nfinancial loss, and reputational damage by ensuring that all activities comply\nwith applicable laws and regulatory standards.\n\nBreaches of law or our internal policies are not tolerated. Through the\nwhistleblowing channel SpeakUp, PUMA can be informed about such breaches.\nPUMA\u00e2\u0080\u0099s Whistleblowing Policy protects whistleblowers globally from\nretaliation and guarantees a confidential and fair treatment of the case.\n\nIn case violations occur, those are remediated, a new risk analysis is\nperformed, and measures are taken to close potential gaps in the control\nsystem.\n\nTone from the top is key in PUMA\u00e2\u0080\u0099s corporate culture, leadership\ndemonstrates commitment through transparent communication, and by modelling\nthe behaviours that align with our core values. This commitment is cascaded\ndown to all levels in the organisation, ensuring a consistent culture\nframework. PUMA is dedicated to continuously developing a positive and\ninclusive corporate culture. We invest in training programs and workshops that\nfocus on our values, ethics and leadership development. These programs are\ndesigned to help employees at all levels understand and embody the company\nculture.\n\nDuring the onboarding process, new employees are introduced to PUMA\u00e2\u0080\u0099s\nculture through orientation sessions that cover our values, mission and\nexpectations. This ensures that from day one, employees are aware of and\nengaged with the company\u00e2\u0080\u0099s culture.\n\nLeadership development is another critical component of our culture-building\nefforts. We provide ongoing support and training for our leaders to ensure\nthey act as role models and reinforce the desired culture within their teams.\nPUMA has developed a variety of communication channels, including regular\ntownhall meetings and compliance awareness initiatives. Through the intranet\nculture stories, achievements and updates are shared with all employees.\nCompliance policies are communicated by the Management Board member\nresponsible for the topic via email and are available on the intranet.\nCompliance awareness initiatives are communicated via multiple channels, like\nhardcopy, email and videos.\n\nCompliance awareness initiatives are structured to echo a training plan, a new\npolicy or a policy update, or to educate after a compliance incident.\n\nCorporate culture is evaluated by regular employee feedback mechanisms, e.g.\nemployee survey, open-door policy, that encourage employees to voice their\nopinions and concerns. Such feedback is analysed to identify trends, strengths\nand areas of improvement. The survey is conducted every three months. Culture\nalignment is also assessed during performance reviews, where employees are\nevaluated not only on their job performance but also on how well they embody\nthe company\u00e2\u0080\u0099s core values. This approach ensures that cultural fit is a key\ncomponent of overall performance. To maintain and improve our corporate\nculture, we regularly conduct internal audits to assess compliance with our\nvalues and standards. Action plans are developed to address any identified\ngaps, ensuring that our culture continues to evolve in a positive direction.\n\nAt PUMA, we act in accordance with the law and self-imposed standards of\nconduct in all business activities. PUMA\u00e2\u0080\u0099s CMS is designed to systematically\nprevent, detect at an early stage and sanction violations of rules in the\nareas of corruption, money laundering, conflicts of interest, antitrust law,\nfraud or embezzlement. Violations of the law or internal policies are not\ntolerated.\n\nAs part of the CMS, PUMA has a Group-wide electronic whistleblower platform,\noperated by an external provider, to which employees and third parties can\nreport illegal or unethical behaviour. Reporting is also possible to the P&O\ndepartment or to the Local Compliance Officers. All cases in core compliance\nareas are documented and managed in the same way, no matter the reporting\nchannel. Reporting from external stakeholders is enabled via a link to the\nwhistleblower system on our website.\n\nViolations from all risk areas can be reported. Reports of violations that do\nnot fall within the core compliance risk areas are forwarded to the relevant\ndepartments, which are then responsible for investigating and implementing\nappropriate measures in the respective cases.\n\nWe have Case Handling Rules and Investigation Guidelines to support the\nmembers in our investigation team. All major cases in the whistleblowing\nplatform are reported quarterly to the Management Board and Supervisory Board.\n\nPUMA\u00e2\u0080\u0099s whistleblowing platform SpeakUp fulfils all requirements of German\nand European whistleblowing law. Education on SpeakUp is a mandatory part of\ncompliance trainings and is regularly communicated via Compliance Awareness\nInitiatives, e.g. SpeakUp poster in all PUMA buildings worldwide. PUMA has\nimplemented Case Handling Rules and Investigation Guidelines to support the\nstaff receiving the reports and investigating the cases. They are trained\nregularly and exchange on lessons learned from the case investigations in\ncatch-up sessions.\n\nPUMA protects all whistleblowers from retaliation. No employee will be subject\nto disciplinary or retaliatory actions due to reporting a concern or an\nincident in good faith. Every report is treated as strictly confidential. This\nis stated in our Whistleblowing Policy and is the mindset that we display in\nthe course of every investigation.\n\nPUMA takes every report seriously and investigates every substantiated\ncompliance case. The investigation process is free from any undue influence\nand the standards applied are objective. If a violation has not been proven,\nthe presumption of innocence applies. Incriminating and exculpating facts are\nequally included in the investigation. All investigations are conducted in a\nconfidential manner and comply with the applicable laws. Disciplinary measures\nare taken in accordance with the principle of proportionality. In the event of\nmisconduct by a business partner, appropriate consequences will also be taken\nin accordance with the principle of proportionality.\n\nThe PUMA Compliance Training Strategy resolved by the Management Board\nstipulates that two short trainings on core business conduct topics like\npreventing bribery, anti-money laundering, anti-trust, ethical behaviour,\nbusiness partner due diligence, keeping information confidential etc. will be\nheld every second year for all employees worldwide and one deep dive training\non selected topics from the above listed ones will be held every three years\nfor target groups based on their risk exposure to the topic.\n\nThe functions in PUMA that are most at risk of corruption and bribery, are\ntypically those that involve interaction with external governmental bodies or\nbusiness partners. Those are facility management, logistics, sourcing and\nprocurement, sales, sports marketing, and marketing.\n\n#####  Prevention and detection of corruption or bribery and incidents (G1-3,\nG1-4)\n\nCMS helps us to operate within legal and regulatory boundaries while fostering\nethical behaviour and good corporate governance, with a focus on the\ncompliance risk areas including anti-corruption and anti-bribery. PUMA\u00e2\u0080\u0099s CMS\nin this regard consists of three pillars including prevent, detect and\nrespond.\n\n  * In \u00e2\u0080\u009cPrevent\u00e2\u0080\u009d, we identify and assess the compliance risks via regular risk assessments, then formulate related policies and training to mitigate the related risks especially in areas like anti-corruption, bribery, anti-money laundering and fraud. A regular Tone from the Top is an important tool in preventing compliance violations \n  * We have established different whistleblowing channels to \u00e2\u0080\u009cDetect\u00e2\u0080\u009d violations against the law or our internal policies that we described above \n  * We \u00e2\u0080\u009cRespond\u00e2\u0080\u009d to compliance violations with actions that counter the severity of the case. Consequences can be warnings or other disciplinary measures, remediation action plans, awareness measures or an adaptation of the training content and cycle to the new evaluated risk situation. We include case studies and clear guidance on best practices and prohibited behaviours to prevent incidents of corruption or bribery. \n\nAnti-corruption is a standard training module in our Compliance in-person\ntraining program, as well as in our e-learning training program. The\nwhistleblowing channel SpeakUp is available on the internet page and available\nfor both employees and external business partners. Information on SpeakUp and\nhow allegations are handled are a standard training module in all our Code of\nEthics e-learning and Compliance in-person trainings. We include a module on\nanti-corruption and anti-bribery in each training for our suppliers.\n\nThe PUMA Compliance Training Strategy resolved by the Management Board\nstipulates that two short trainings on core business conduct topics like\npreventing bribery, anti-money-laundering, anti-trust, ethical behaviour,\nbusiness partner due diligence, keeping information confidential etc. will be\nheld every second year for all employees worldwide and one deep dive training\non selected topics from the above listed ones will be held every three years\nfor target groups based on their risk exposure to the topic.\n\nOur Code of Ethics communicates our expectations regarding the prevention of\ncorruption and bribery in business. A more detailed Anti-bribery and Anti-\ncorruption Policy helps employees to comply with the expectations and is\ncommunicated by the CEO to all PUMA employees worldwide. It lays out approval\nprocesses for risky business transactions. Implemented internal controls like\nthe segregation of duties and four-eyes principle limit opportunities for\ncorrupt activities. The screening process established via the Business Partner\nDue Diligence policy ensures that business partners are carefully selected and\nthe corresponding compliance clauses in the agreements request them to meet\nanti-corruption standards. Regular Code of Ethics e-learnings and in-person\ncompliance training programs as well as awareness measures make sure that the\nkey messages are properly communicated to all the employees.\n\nWe have established a whistleblowing channel for employees and external\npartners to report corruption and bribery allegations. With the help of\nInternal Audit, suspicious activities in terms of corruption and bribery are\nidentified. Cross department screening in SAP also helps to monitor financial\ntransactions for red flags. Once PUMA is aware of corruption or bribery cases,\nthe Case Handling Rules and Investigation Guidelines are in place to enable\nevery case manager in each entity to conduct investigations properly and all\ncases are documented in a case management system and reported to the\nManagement Board and Supervisory Board on a quarterly basis.\n\nCorruption and bribery are zero tolerance issues at PUMA. Disciplinary\nconsequences and remediation plans are mandatory for each confirmed corruption\nor bribery case. Annual Compliance e-learning is conducted targeting each PUMA\nemployee with a business email account. Anti-corruption/bribery is subject at\nall in-person compliance trainings. Additional training is provided to\nexecutive/senior management with tailored case studies. All compliance\ntraining materials are developed by the Compliance team in order to be very\nrelevant to the PUMA teams and to speak the language of the fairly young\nemployee base. The compliance training strategy is approved by the Management\nBoard.\n\nAt PUMA we ensure that the investigators are completely independent from the\nmanagement chain or department that is involved in the matter. This includes:\n\n  * When appointing an investigator (case manager), Group Compliance makes sure that there no conflict of interests and they are from an unrelated entity or department, normally the local compliance officer or, where necessary, an external investigator \n  * PUMA has established clear and separate reporting lines for the investigators, ensuring they report the case solely to the compliance department, rather than to anyone involved in the matter \n  * Investigation Guidelines are in place, which clearly state that if a conflict of interest arises, e.g. if the responsible compliance officer is too close to the accused or the reporter, the case will be handled by Group Compliance, to ensure the case is impartially handled \n  * For particularly sensitive cases, we may engage external investigators or forensic auditors to further distance the investigation from internal influence. \n\nThe investigation is overseen by Group Compliance to ensure adherence to\nprotocols, and fairness. The Compliance function reports all\ncorruption/bribery cases and all other major cases to the Management Board and\nto the Audit Committee of the Supervisory Board on a quarterly basis. The\ncontent of this report includes the quarterly summary/analysis of cases,\ncomparisons to previous quarters, percentage of closed cases, key case\nsummaries with follow-up measures, actions or learnings/recommendations\nderived from the key cases.\n\nPUMA Compliance Policies are written in easy language that can be well\nunderstood by the staff. They are translated into the local languages and can\nbe adapted to local needs. Compliance Policies are always released by the CEO\nto all employees worldwide to ensure the right Tone from the Top. In the CEO\nemail, a copy of the policy is provided with a link to the intranet for easy\naccess. Each compliance policy names a contact person to answer questions\nrelated to the understanding and implementation of the policy. The contact\nperson can also bring back the latest information and feedback on the policy,\nensuring that PUMA is prepared for possible updates. In all compliance\ntraining, including e-learnings and in-person trainings, the related policies\nare repeatedly communicated.\n\nPUMA has a compliance training strategy that illustrates which compliance\ntraining is provided to whom at which frequency in which format. Every new\njoiner receives onboarding training about compliance culture, introduction of\nrisk areas and policies, expectations and the whistleblowing channel SpeakUp.\nExisting employees receive basic and deep-dive compliance training. Basic\ntraining educates about the fundamentals of the most relevant risk areas. They\nare covered by short annual e-learnings. Deep-dive training provides deeper\nknowledge in certain risk areas and is designed for targeted employees with\nbigger risk exposure. This deep-dive compliance training is covered by longer\ne-learnings and face-to-face compliance trainings. All training on anti-\ncorruption/anti-bribery is mandatory. Training modules on anti-corruption are\nstandard parts of all compliance trainings.\n\nA hundred percent of function-at-risk are covered by training programs. Each\nCode of Ethics e-learning is mandatory for all employees and aims at a 100  \u00c2\n% completion rate. Such e-learnings are communicated and launched via the CEO\nof PUMA to all employees worldwide. All e-learnings are also conducted by the\nmembers of the Management Board and the Supervisory Board. On top of that the\nmembers of the Management Board and the Supervisory Board receive regular\ntailor-made compliance trainings, depending on the topics that are relevant\nfor the fulfilment of their tasks.\n\nIn 2024, PUMA did not have confirmed cases on corruption or bribery.\n\nPUMA is dedicated to fostering a culture of integrity by offering global anti-\ncorruption and anti-bribery e-learnings every two years. The last session of\ne-learnings on anti-corruption and anti-bribery was conducted in 2023 and is\ndue again in 2025.\n\n#####  Management of relationships with suppliers (G1-2)\n\nPUMA has several practices to minimise supply chain disruptions, aligning with\nits strategy and risk management:\n\n  * Vendor Financing Program: Established in 2016, this program offers suppliers attractive financing terms through partnerships with banks like BNP Paribas, Standard Chartered Bank, and HSBC, ensuring liquidity during disruptions \n  * Collaborative adjustments: During the COVID-19 pandemic, PUMA worked with retail partners and manufacturers to adjust order placements, sharing the burden and maintaining continuity \n  * Continuous Communication: PUMA maintains ongoing dialogue with suppliers to assess risks related to factory work suspensions, layoffs, wage payments, and working conditions, addressing issues proactively \n  * Responsible purchasing: PUMA ensures orders are paid in full and materials compensated even if orders are cancelled, building trust and reliability \n  * Health and Safety Guidelines: PUMA guides manufacturers to follow government and ILO guidelines to protect workers\u00e2\u0080\u0099 health, ensuring safe operations during crises \n  * Sustainability strategy: PUMA\u00e2\u0080\u0099s FOREVER. BETTER. strategy, informed by the SDGs focuses on human rights, climate action, and circularity, ensuring long-term resilience and adaptability. \n\nPUMA recognises the impact of its business practices on suppliers and aims to\nreduce negative effects through its Responsible Sourcing Policy.\n\nEstablished in 2019, the Responsible Purchasing Practice Policy guides\ndecisions and ensures consistency. PUMA trains its sourcing staff and\nsuppliers on this policy, referencing the UN Guiding Principles on Business\nand Human Rights to highlight the link between purchasing practices, working\nconditions, and human rights risks.\n\nWe ask strategic Tier 1 suppliers to participate in the Better Buying survey\nto gather feedback on PUMA\u00e2\u0080\u0099s responsible purchasing practices. This survey\ncollects anonymous ratings from suppliers based on five principles of\nresponsible purchasing, helping us improve our practices. We share the survey\nresults with our sourcing team and suppliers.\n\nIn 2023, PUMA added a responsible disengagement clause to its purchasing\npractices. Following Fair Labor Association guidelines, PUMA commits to\nproviding at least six months\u00e2\u0080\u0099 notice before significantly downscaling\norders or ending business relationships. A longer notice period may be granted\nbased on average production capacities over the past two to three years to\nmitigate impacts on workers and allow suppliers time to find new buyers.\n\nPUMA\u00e2\u0080\u0099s Code of Conduct is integral to our manufacturing agreements. As part\nof the manufacturing agreements all suppliers sign a legally binding\nDeclaration of Principles specifying the principles and standards to be\nobserved by the suppliers, including annexes on Anti-corruption, Building\nsafety, Animal protection, PUMA sustainability audit, restricted substances,\nand PUMA cotton sourcing policies. The supplier acknowledges the importance of\nadhering to social and environmental standards and guarantees these rights to\nall employees and affected stakeholders. Additionally, the supplier commits to\nrespecting internationally recognised human rights, complying with all\napplicable laws to prevent slavery, servitude, forced labour, and human\ntrafficking, and avoiding any activities that would constitute an offense.\n\nPUMA uses a Supplier Scorecard to evaluate and manage supplier performance\nbased on several key criteria including environmental compliance, waste\nmanagement and effluent treatment. PUMA conducts regular reviews and meetings\nwith suppliers to discuss scorecard results, address any issues, and identify\nareas for improvement. Suppliers needing improvement get support and guidance\nto meet PUMA\u00e2\u0080\u0099s standards.\n\nPUMA extends its local supply chain initiatives in markets such as China,\nIndia, Latin America and T\u00c3\u00bcrkiye. By sourcing materials and products\nregionally, PUMA fosters closer relationships with local suppliers.\n\n#####  Payment practices (G1-6)\n\nPUMA has digitised its supply chain to create transparency and operational\nefficiency, ensuring timely payments to suppliers. Consequently, all payments\nto vendors are automated and paper-free, ensuring timely payments as per our\nterms.\n\nPUMA\u00e2\u0080\u0099s standard contract payment terms require payment upon receipt of\ninvoice within a specified number of days from the actual handover date. In\n2024, approximately 76  \u00c2  % of annual invoices were paid according to these\nstandard terms. The remaining invoices were paid based on local terms agreed\nupon between the sales subsidiary and the supplier. In 2024, there were no\noutstanding legal proceedings for late payments, as this process is automated.\n\u00e2\u0080\u008e  \u00e2\u0094\u0094\n\nShare\n\n  * [ ](mailto:?subject=ESRS G1 Business conduct&body=https://annual-report.puma.com/2024/en/combined-management-report/sustainability-statement/governance-information/esrs-g1-business-conduct/index.html \"Email\")\n  * [ ](https://www.linkedin.com/shareArticle?mini=true&url=https://annual-report.puma.com/2024/en/combined-management-report/sustainability-statement/governance-information/esrs-g1-business-conduct/index.html&title=ESRS G1 Business conduct&summary=PUMA's annual report provides all the information about our business performance in 2024. 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                    "source": "https://www.bsr.org/en/primers/10-human-rights-priorities-for-the-transport-and-logistics-sector"
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                "page_content": "[ ](https://www.linkedin.com/sharing/share-\noffsite/?url=https%3A%2F%2Fwww.bsr.org%2Fen%2Fprimers%2F10-human-rights-\npriorities-for-the-transport-and-logistics-sector) [\n](https://bsky.app/intent/compose?text=https%3A%2F%2Fwww.bsr.org%2Fen%2Fprimers%2F10-human-\nrights-priorities-for-the-transport-and-logistics-sector) [ ](mailto:?)\n\nHuman rights are inherent to all people, regardless of nationality, sex,\nnational or ethnic origin, color, religion, language, or any other status.\nThey are globally agreed upon standards of achievement for all people,\ncovering a wide range of independent yet interconnected civil, political,\neconomic, social, cultural, and environmental rights that serve as a \u2018code of\nconduct\u2019 for all human beings.\n\nAll companies can impact human rights either positively or negatively through\ntheir action or inactions. The key document speaking to these impacts is the [\nUN Guiding Principles on Business and Human Rights\n](https://www.ohchr.org/sites/default/files/documents/publications/guidingprinciplesbusinesshr_en.pdf)\n(UNGPs), the authoritative global standard on business and human rights.\nThough technically \"soft law,\" the UNGPs have been incorporated into the [\nOECD Guidelines for Multinational Enterprises\n](https://www.oecd.org/investment/mne/) , [ ISO 26000\n](https://www.iso.org/iso-26000-social-responsibility.html) , [ IFC\nPerformance Standards ](https://www.ifc.org/en/insights-reports/2012/ifc-\nperformance-standards) , [ GRI ](https://www.globalreporting.org) , [ UN\nSustainable Development Goals ](https://sdgs.un.org/goals) , and many other\nframeworks. They have also been endorsed by business and industry\norganizations representing thousands of companies, civil society\norganizations, NGOs, and member states of the United Nations.\n\nAs part of the corporate responsibility to respect human rights, the UNGPs\nrequire companies to actively identify and manage the negative human rights\nimpacts that they may cause or to which they may contribute or are linked\nthrough their business relationships.\n\nThis primer identifies the 10 most relevant, urgent, and probable human rights\nimpacts for businesses operating in the Transport & Logistics (T&L) sector. It\nis intended as a starting point and should be supplemented by robust internal\nhuman rights due diligence processes. The information here is gathered from\nBSR\u2019s [ direct engagement with T&L companies\n](https://www.bsr.org/en/industries/transport-and-logistics) and the companies\nthat rely on them, as well as our 30 years of experience helping companies in\nall sectors [ manage their human rights risks\n](https://www.bsr.org/en/expertise/human-rights) .\n\nT&L activities provide the backbone to the modern economy and global trade.\nAlmost every company relies on T&L services to deliver its goods or services,\nand the trend has been toward the outsourcing of these activities to\nspecialized transport actors. This reliance on outsourcing has given rise to\nchallenges to ensure the respect for human rights for workers throughout the\nextended supply chain.\n\nThe T&L sector comprises a wide range of activities, along a value chain that\nincludes various modes of transport of goods (by road, rail, air, and water);\nthe physical transfer points (e.g., terminals, airports, rail stations) and\nwarehouses where goods are stored, packaged, and sorted for ultimate delivery\nto end-customers; and the intermediaries (e.g. freight forwarders) that\nconnect these different services. These activities rely on workers such as\ntruck drivers and last-mile delivery workers, pilots, and seafarers, as well\nas logistics staff such as warehouse workers, ground crews, and dockworkers.\nThey can also impact wider communities, particularly those located near ports,\nwarehouses, or other transportation hubs or routes.\n\nWhile each of the activities undertaken by T&L companies present unique human\nrights risks and challenges, this primer highlights the most common and\nsignificant risks across the T&L sector as a whole. The primer also offers\nopportunities for T&L, as a sector that is both global and local and employs\ntens of millions of workers around the world, to advance the realization of\nhuman rights.\n\n* * *\n\n* * *\n\n##  **Top Human Rights Risks**\n\n###  1: Occupational Health and Safety\n\nThe most prevalent risk for workers in the T&L sector is to their physical and\nmental health and safety at work. This ranges from the risks of physical\ninjury (e.g., machine-related incidents aboard ships or in terminals and road\naccidents) to long-term health impacts (e.g., from exposure to hazardous\nsubstances or physically strenuous work) but also includes mental health\nimpacts and \u201cpsychosocial\u201d risks linked to pressured working conditions or the\nincreased technological automation of processes. Workplace violence and\nharassment, including sexual harassment, is also common in the T&L\nsector\u2014notably in the maritime industry where women make up an extreme\nminority of the workforce. Finally, climate change is exacerbating risks\nlinked to working in extreme weather conditions (e.g., heat, rain), including\nimpacts to the working environment (e.g., warped roads and worsened storms).\n\n###  2: Fair Working Conditions\n\nIn every sector, global expansion, technological progress, and consumer\nexpectations have pushed companies to compete on flexibility and\nresponsiveness. While this has enabled economic development in many places, it\nhas also applied downward pressure to reduce wages and benefits, while\nincreasing the expectations placed on workers. The COVID-19 pandemic exposed\nsome of the unfair conditions placed on T&L workers, including excessive\nworking hours for seafarers and inadequate rest times and facilities for road\ntransport workers. Many warehouse workers are employed on precarious contracts\nfor very low wages (that oftentimes fall short of a living wage) and required\nto work irregular shifts that may be detrimental to their health and family\nlife. Gig workers involved in last-mile deliveries frequently face\nexploitative contract terms and lack employee benefits.\n\n###  3: Forced Labor and Human Trafficking\n\nT&L companies rely on large, low-skilled workforces and often use recruitment\nagencies to find and train employees (e.g., manning agencies in shipping and\nthird-party or temporary labor agencies in warehouse logistics). These\nagencies, especially in countries with weaker labor laws or enforcement or\nmore informal economies, are at high risk of employing workers under forced\nlabor conditions. Such workers may be coerced into paying recruitment fees,\nmay work illegally without visas, or may have their passports confiscated and\nwages withheld. Careful due diligence of labor agencies is critical to\nminimize these risks. Risks of forced labor also exist in the road transport\nindustry. For example, trucking companies in Europe have been involved in the\nexploitation of migrant workers against a backdrop of local driver shortages.\nThe T&L industry also has frontline exposure to human trafficking activities,\nwhich rely on transportation to traffic victims. While these activities may\nnot be caused by T&L companies\u2019 core operations, the companies may still have\nan opportunity to contribute to the detection and prevention of trafficking.\n\n###  4: Freedom of Association and Collective Bargaining\n\nIn many countries where T&L companies operate, the freedom of workers to\nassociate and collectively bargain through independent trade unions is not\nprotected and may even be prohibited by law. These rights are not exclusively\nexercised through formal trade unions and may be exercised through other forms\nof worker organization and representation (e.g., work councils, employee\nassociations, state-sponsored unions). However, local laws or socio-political\nnorms (such as anti-union sentiment in the Southern United States) may\nrestrict their exercise by workers without proactive encouragement from their\nemployer. This risk is heightened in countries where independent contractors\n(e.g., truck drivers) or subcontracted labor (e.g., temporary warehouse\nworkers or informal day workers) have limited access to collective\nrepresentation and other labor protections. For example, in some countries\ntruck drivers do not have employment contracts allowing them to join trade\nunions, and last-mile delivery drivers operating as \u201cgig workers\u201d are excluded\nfrom labor protections reserved for employees.\n\n###  5: Workplace Discrimination\n\nWorkplace discrimination remains prevalent in all countries and sectors,\ndespite clear national and international legal frameworks condemning it. It\ncan manifest in more or less direct ways (e.g., decision not to hire or\nineligibility for parental benefits). In the T&L sector, as it is a\nhistorically male-dominated industry, women most commonly experience instances\nof workplace discrimination, such as lower pay and lack of promotion\nopportunities. However, ethnic minorities (e.g., racial slurs), LGBTIQ+\ncommunities (e.g., access to benefits and homophobic harassment), and people\nwith disabilities (e.g. equal access to benefits and promotion opportunities)\nalso experience instances of workplace discrimination. For companies operating\nin global markets, respecting employees\u2019 rights means guaranteeing equal\nopportunities for every member of their diverse workforces.\n\n###  6: Land Acquisition and Indigenous Rights\n\nInfrastructure is critical to the T&L sector. Roads, ports, canals, and other\ntransport and logistics infrastructure require the development of large areas\nof land, which may occur without adequate consultation and/or compensation for\nlocal communities or the Free Prior and Informed Consent of Indigenous groups\nwhose rights would be impacted by these developments. However, the strong\nlocal economic incentives in favor of such infrastructure projects\u2014which often\ninclude job opportunities and other economic benefits for local\ncommunities\u2014can sometimes increase the risk of infrastructure projects\nproceeding at the detriment of other community rights. Furthermore, many of\nthe minerals and metals needed for the T&L sector\u2019s energy transition (such as\nlithium, cobalt, copper, and nickel) are located on or near the lands of\nIndigenous and impoverished peoples, putting their rights at growing risk.\n\n###  7: Grievance Mechanisms and Remedy\n\nThe UNGPs not only require companies to identify and manage their human rights\nrisks, but to provide or cooperate in the provision of effective remedy for\nvictims of adverse human rights impacts. This is both a procedural and\nsubstantive right. Adversely impacted people should have access to adequate,\naccessible, and reliable grievance mechanisms to raise concerns and seek\nremedy, and these mechanisms should in fact lead to effective remedy. The T&L\nsector faces heightened challenges because of heavy reliance on subcontracted\nlabor, including through third-party labor agencies (e.g., in terminals or\nwarehouses) and outsourcing (e.g., in road transport), which can make it more\ndifficult for workers to raise and resolve grievances, and for different\nactors along the chain to cooperate in the provision of effective remedy.\n\n###  8: Emissions and Environmental Pollution\n\nThe T&L sector is one of the highest emitting sectors in the world (the\ntransport sector alone accounted for 37 percent of global greenhouse gas\nemissions as of 2022). Trucking and last-mile delivery operations add to\ncongestion and pollution in cities, and further contribute to climate change.\nThe human rights impacts of air pollution and climate change are therefore\nsignificant for the T&L sector, with climate change generating impacts far\nbeyond the environment, including restricted food supplies, reduction in\npotable water, mass migration, and, potentially, political upheaval, all of\nwhich hold severe human rights implications for the general public. The T&L\nsector also causes pollution to waterways and oceans. Ballast water discharge\noften includes non-native or nuisance species that can cause extensive damage\nto aquatic life and ecosystems, negatively impacting local communities, their\nhealth, and their livelihoods.\n\n###  9: Just Transition\n\nAs a sector required to make significant changes\u2014from transport fuels to\nbuilding materials\u2014to address its contribution to climate change, the T&L\nsector faces a challenge to ensure a just transition. A just transition\ninvolves maximizing the social and economic opportunities of climate action,\nwhile minimizing and carefully managing any challenges\u2014including through\neffective social dialogue among all groups impacted and respect for\nfundamental labor principles and rights. However, the World Benchmarking\nAlliance\u2019s [ Climate and Energy Benchmark\n](https://www.worldbenchmarkingalliance.org/publication/transport/) for the\ntransport sector shows a striking and systemic lack of action by companies to\nprepare for and mitigate the social impacts of decarbonizing.\n\n###  10: Bribery and Corruption\n\nThe T&L sector engages with the government extensively, from vans passing\nthrough customs checkpoints to fleets of ships accessing government-owned\ncanals and ports. Many ports or logistics centers also operate as joint\nventures with local governments. These factors make the sector a high risk for\nboth corruption and bribery. In fact, almost every link in the T&L value chain\nis susceptible to corruption, from officials tasked with awarding contracts or\ngranting permits or customs clearances to those inspecting facilities,\nvehicles, or ships. Bribery and corruption inherently violate human rights by\nskewing government attention and resources away from the essential services\nneeded to protect their citizens' basic human rights.\n\n##  **Top 3 Opportunities for Positive Impact**\n\n#####  **1** : Enable Trade\n\nTransport and logistics enables trade in essential goods and services that\ncontribute to people\u2019s enjoyment of their human rights around the world. More\nlocally, transport infrastructure connects people to jobs, education, and\nhealth services. As the COVID-19 pandemic demonstrated, the sector plays an\nimportant role in enabling access to health by supporting the efficient\nmovement of vaccinations, medications, and technical equipment. At a time of\ngrowing geopolitical tensions, T&L companies should work collectively to\ncoordinate access and ensure essential goods can be transported with minimal\ndisruptions.\n\n#####  **2** : Combat Human Trafficking\n\nGiven their proximity to the issue of human trafficking, T&L companies can\nplay a vital role in raising awareness about it and work with their suppliers\nand government partners to identify high-risk areas and telltale signs. Proper\nlabor programs, including a code of conduct, fair labor policies, training,\ndue diligence, and supplier management, are essential to improve practices in\nthe supply chain with an eye toward combating human trafficking.\n\n#####  **3** : Improve Road Safety\n\nIn nearly every country, traffic accidents are among the top 10 causes of\ndeath. This is now recognized by several international agencies as a\ndevelopment issue, as the poorest and most remote populations are often at the\ngreatest risk. T&L companies can promote road safety through awareness\ncampaigns for the public and their suppliers, and in doing so, achieve\npositive impacts on employees\u2019 and communities\u2019 right to life, health, and\nsafety. Companies can also collectively engage governments on these issues to\nincrease standards and to advocate for the allocation of resources sufficient\nto maintain roads in a safe condition.\n\n##  **Our Work**\n\n[ ](https://www.bsr.org/en/collaboration/groups/human-rights-working-group)\n\n######  Collaboration Groups\n\n####  [ Human Rights Working Group\n](https://www.bsr.org/en/collaboration/groups/human-rights-working-group)\n\n[ ](https://www.bsr.org/en/focus/human-rights)\n\n######  Focus Areas\n\n####  [ Human Rights ](https://www.bsr.org/en/focus/human-rights)\n\n[ ](https://www.bsr.org/en/industries/transport-and-logistics)\n\n######  Industries\n\n####  [ Transport and Logistics ](https://www.bsr.org/en/industries/transport-\nand-logistics)\n\n[ Back to Primers ](https://www.bsr.org/en/primers)\n\nLet\u2019s talk about how BSR can help you to transform your business and  achieve\nyour sustainability goals  .\n\n[ Contact Us ](https://www.bsr.org/en/hello)\n\n[ ](https://www.bsr.org/)\n\n#####  About BSR\n\nBSR\u00ae is a sustainable business network and consultancy focused on creating a\nworld in which all people can thrive on a healthy planet. With offices in\nAsia, Europe, and North America, BSR\u00ae provides its 300+ member companies with\ninsight, advice, and collaborative initiatives to help them see a changing\nworld more clearly, create long-term value, and scale impact.\n\n#####  Our Global Offices\n\n  * Copenhagen \n  * Guangzhou \n  * Hong Kong \n  * London \n  * New York \n  * Paris \n  * San Francisco \n  * Shanghai \n  * Singapore \n  * Tokyo \n  * Washington, D.C. \n\n#####  Stay Informed\n\n[ Subscribe ](/en/hello/subscribe)\n\n#####  Elsewhere\n\n  * [ ](http://www.linkedin.com/company/162839)\n  * [ ](https://bsky.app/profile/bsrnews.bsky.social)\n  * [ ](http://www.youtube.com/user/BusinessSocialResp)\n  * [ ](https://www.flickr.com/photos/107327276@N08/sets/)\n\n* * *\n\n#####  [ Sustainability Insights ](https://www.bsr.org/en/sustainability-\ninsights)\n\n  * [ Podcast Series ](https://www.bsr.org/en/audio)\n  * [ Blog ](https://www.bsr.org/en/blog)\n  * [ Case Studies ](https://www.bsr.org/en/case-studies)\n  * [ In the News ](https://www.bsr.org/en/news)\n  * [ Policies, Regulations, and Standards ](https://www.bsr.org/en/prs)\n  * [ Primers ](https://www.bsr.org/en/primers)\n  * [ Reports ](https://www.bsr.org/en/reports)\n  * [ Sustainability FAQs ](https://www.bsr.org/en/sustainability-faqs)\n  * [ Topics ](https://www.bsr.org/en/topics)\n\n#####  [ Advisory Services ](https://www.bsr.org/en/advisory-services)\n\n  * [ Industries ](https://www.bsr.org/en/industries)\n  *   * [ Consumer Products ](https://www.bsr.org/en/industries/consumer-products)\n  * [ Energy and Extractives ](https://www.bsr.org/en/industries/energy-and-extractives)\n  * [ Financial Services ](https://www.bsr.org/en/industries/financial-services)\n  * [ Food, Beverage, and Agriculture ](https://www.bsr.org/en/industries/food-beverage-and-agriculture)\n  * [ Healthcare ](https://www.bsr.org/en/industries/healthcare)\n  * [ Industrials ](https://www.bsr.org/en/industries/industrials)\n  * [ Media and Entertainment ](https://www.bsr.org/en/industries/media-and-entertainment)\n  * [ Technology ](https://www.bsr.org/en/industries/technology)\n  * [ Transport and Logistics ](https://www.bsr.org/en/industries/transport-and-logistics)\n  * [ Travel and Tourism ](https://www.bsr.org/en/industries/travel-and-tourism)\n\n  * [ Services ](https://www.bsr.org/en/industries)\n  *   * BSR\u2019s sustainability advisory services help companies to achieve impact and create long-term business value. \n\n  * [ Sustainable Futures Lab ](https://www.bsr.org/en/advisory-services/sustainable-futures-lab)\n  * BSR\u2019s Sustainable Futures Lab helps businesses to spot emerging issues early, explore different possible futures, and develop more resilient and sustainable strategies. \n\n#####  [ Collaboration ](https://www.bsr.org/en/collaboration)\n\n  * [ Collaborative Initiatives ](https://www.bsr.org/en/collaboration/groups)\n  * [ Roundtables and Multi-Company Opportunities ](https://www.bsr.org/en/collaboration/roundtables)\n\n#####  [ Membership ](https://www.bsr.org/en/membership)\n\n  * [ Member Portal ](https://www.bsr.org/en/membership/portal)\n  * [ Member Companies ](https://www.bsr.org/en/membership/member-list)\n  * [ FAQ ](https://www.bsr.org/en/membership/faq)\n\n#####  [ Events ](https://www.bsr.org/en/events)\n\n  * [ All Events ](https://www.bsr.org/en/events)\n  * [ Human Rights Across the Generative AI Value Chain: Risks, Responsibilities, and Practical Guidance ](https://www.bsr.org/en/events/hub/human-rights-across-the-generative-ai-value-chain-risks-responsibilities-and-practical-guidance)\n\n#####  [ Focus Areas ](https://www.bsr.org/en/focus)\n\n  * [ Climate Change ](https://www.bsr.org/en/focus/climate-change)\n  * [ Human Rights ](https://www.bsr.org/en/focus/human-rights)\n  * [ Inclusive Business ](https://www.bsr.org/en/focus/inclusive-business)\n  * [ Nature ](https://www.bsr.org/en/focus/nature)\n  * [ Supply Chain Sustainability ](https://www.bsr.org/en/focus/supply-chain-sustainability)\n  * [ Sustainability Management ](https://www.bsr.org/en/focus/sustainability-management)\n\n#####  [ About Us ](https://www.bsr.org/en/about)\n\n  * [ Our Story ](https://www.bsr.org/en/about/story)\n  * [ BSR\u2019s Climate Goal ](https://www.bsr.org/en/about/sustainability-at-bsr)\n  * [ Grant-Funded Work ](https://www.bsr.org/en/grant-funded-work)\n  * [ Our People ](https://www.bsr.org/en/people)\n  * [ Careers ](https://www.bsr.org/en/careers)\n  * [ Jobs at BSR Member Companies ](https://www.bsr.org/en/careers/job-openings)\n  * [ Media Center ](https://www.bsr.org/en/about/media-center)\n\n* * *\n\n#####  BSR Web Properties\n\n  * [ **Action for Sustainable Derivatives** ](https://sustainablederivatives.org/)\n  * [ **Building Responsibly** ](https://www.building-responsibly.org) / Business Collaboration to Promote the Welfare of Workers in the Engineering and Construction Industry \n  * [ **Diversity, Equity, and Inclusion (DEI) in Supply Chain Resource Hub** ](https://gsa.bsr.org) / Resource Hub \n  * [ **Global Business Coalition Against Human Trafficking** ](https://www.gbcat.org) / Business Coaltion Committed to Combating Human Trafficking in Operations and Supply Chains \n  * [ **Partnership for Global LGBTI Equality** ](https://www.global-lgbti.org) / Accelerating LGBTI Equality and Inclusion Globally \n\n  * [ **RISE** ](https://riseequal.org) / Reimagining Industry to Support Equality \n  * [ **Sustainability Principles and Objectives Framework** ](https://spo.bsr.org) / ESG Framework for Pre-IPO Companies \n  * [ **Sustainable Coconut Partnership** ](https://www.coconutpartnership.org) / Towards a Responsible and Resilient Coconut Sector \n  * [ **Sustainable Entertainment Alliance** ](https://www.sustainableentertainmentalliance.org) / Transforming the Screen Industry\u2019s Environmental Impact \n  * [ **Tech Against Trafficking** ](https://techagainsttrafficking.org) / Collaboration to Eradicate Human Trafficking Through Technology \n\n* * *\n\n\u00a9 2025 Business for Social Responsibility\u2122 | [ Data Protection and Privacy Policy ](/en/data-protection-and-privacy-policy) | [ Cookie Policy ](/en/cookie-policy) | [ Terms of Services ](/en/terms-of-services) | [ Antitrust and Competition Law Policy ](/en/antitrust-and-competition-law-policy) | [ Contact ](/en/about/contact)\n\n",
                "url": "https://www.bsr.org/en/primers/10-human-rights-priorities-for-the-transport-and-logistics-sector"
            },
            "reason": "BSR (Business for Social Responsibility) is a reputable organization focused on sustainable business practices. This primer on human rights priorities in the transport and logistics sector is well-researched and provides valuable insights.",
            "reliability_score": 0.9,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "BSR (Business for Social Responsibility) is a reputable organization focused on sustainable business practices. This primer on human rights priorities in the transport and logistics sector is well-researched and provides valuable insights.",
            "url": "https://www.bsr.org/en/primers/10-human-rights-priorities-for-the-transport-and-logistics-sector"
        },
        {
            "content": {
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                    "source": "http://www.milbon.com/en/ir/management/gri.html"
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                "page_content": "#  G  R  I  S  t  a  n  d  a  r  d  I  n  d  e  x\n\nThis index is aligned with the GRI Standards, the international guidelines for\nsustainability reporting.\n\nItems marked as \"N/A\" indicate topics with no relevance to Milbon's business\nor no significant-level cases. Blank spaces represent items with no\ndisclosures.\n\n##  102: General Disclosures\n\n###  1\\. Organizational profile\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n102-1  |  Name of the organization  |  [ Company Profile  ](/en/company/profile.html)  \n102-2  |  Activities, brands, products, and services  |  [ Corporate Information  ](/en/company/)   \n[ Our Brands  ](/en/brand/)  \n102-3  |  Location of headquarters  |  [ Company Profile  ](/en/company/profile.html)  \n102-4  |  Location of operations  |  [ Our Offices  ](/en/company/office/)   \n[ Integrated Report  ](/en/ir/library/report.html)  \n102-5  |  Ownership and legal form  |  [ Securities Report  ](/en/ir/library/securities_report.html)  \n102-6  |  Markets served  |  [ Corporate Information  ](/en/company/)  \n102-7  |  Scale of the organization  |  [ Company Profile  ](/en/company/profile.html)   \n[ Our Offices  ](/en/company/office/)  \n102-8  |  Information on employees and other workers  |  [ ESG Data  ](/en/ir/management/esg.html)  \n102-9  |  Supply chain  |  [ Sustainable Procurement Basic Policy  ](/en/rd/ps/procurement_basic_policy.html)  \n102-10  |  Significant changes to the organization and its supply chain  |  [ Securities Report  ](/en/ir/library/securities_report.html)  \n102-11  |  Precautionary Principle or approach  |  [ Environmental Policy  ](/en/sustainability/environment/environmental_policy.html)  \n102-12  |  External initiatives  |  [ About Global Compact  ](/en/sustainability/globalcompact.html)  \n102-13  |  Membership of associations  |  [ Sustainability  ](/en/sustainability)   \n[ About Global Compact  ](/en/sustainability/globalcompact.html)  \n  \n###  2\\. Strategy\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n102-14  |  Statement from senior decision-maker  |  [ Message from CEO  ](/en/commitment/message.html)  \n102-15  |  Key impacts, risks, and opportunities  |  [ Sustainability  ](/en/commitment/sustainability/)  \n  \n###  3\\. Ethics and integrity\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n102-16  |  Values, principles, standards, and norms of behavior  |  [ Corporate Information  ](/en/company/)   \n[ Sustainability  ](/en/commitment/sustainability/)  \n102-17  |  Mechanisms for advice and concerns about ethics  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)   \n[ Human Rights Policy\n](/en/commitment/sustainability/humanrights/policy.html)  \n  \n###  4\\. Governance\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n102-18  |  Governance structure  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-19  |  Delegating authority  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-20  |  Executive-level responsibility for economic, environmental, and social topics  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-21  |  Consulting stakeholders on economic, environmental, and social topics  |  [ Integrated Report  ](/en/ir/library/report.html)  \n102-22  |  Composition of the highest governance body and its committees  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-23  |  Chair of the highest governance body  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-24  |  Nominating and selecting the highest governance body  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-25  |  Conflicts of interest  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-26  |  Role of highest governance body in setting purpose, values, and strategy  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-27  |  Collective knowledge of highest governance body  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-28  |  Evaluating the highest governance body's performance  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-29  |  Identifying and managing economic, environmental, and social impacts  |  [ Sustainability  ](/en/commitment/sustainability/)  \n102-30  |  Effectiveness of risk management processes  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-31  |  Review of economic, environmental, and social topics  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-32  |  Highest governance body's role in sustainability reporting  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-33  |  Communicating critical concerns  |  [ Corporate Governance  ](/en/ir/management/governance.html)  \n102-34  |  Nature and total number of critical concerns  |  [ ESG Data  ](/en/ir/management/esg.html)  \n102-35  |  Remuneration policies  |  [ Corporate Governance Report  ](/en/ir/management/governance.html)  \n102-36  |  Process for determining remuneration  |  [ Corporate Governance Report  ](/en/ir/management/governance.html)  \n102-37  |  Stakeholders' involvement in remuneration  |   \n102-38  |  Annual total compensation ratio  |   \n102-39  |  Percentage increase in annual total compensation ratio  |   \n  \n###  5\\. Stakeholder engagement\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n102-40  |  List of stakeholder groups  |   \n102-41  |  Collective bargaining agreements  |  [ Securities Report  ](/en/ir/library/securities_report.html)  \n102-42  |  Identifying and selecting stakeholders  |   \n102-43  |  Approach to stakeholder engagement  |   \n102-44  |  Key topics and concerns raised  |   \n  \n###  6\\. Reporting practice\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n102-45  |  Entities included in the consolidated financial statements  |  [ Our Offices  ](/en/company/office/)  \n102-46  |  Defining report content and topic Boundaries  |  [ Integrated Report  ](/en/ir/library/report.html)  \n102-47  |  List of material topics  |  [ Sustainability  ](/en/commitment/sustainability/)  \n102-48  |  Restatements of information  |  N/A   \n102-49  |  Changes in reporting  |  N/A   \n102-50  |  Reporting period  |  [ Integrated Report  ](/en/ir/library/report.html)  \n102-51  |  Date of most recent report  |  [ Integrated Report  ](/en/ir/library/report.html)  \n102-52  |  Reporting cycle  |  [ Integrated Report  ](/en/ir/library/report.html)  \n102-53  |  Contact point for questions regarding the report  |  [ Contact Us  ](/en/contact/)  \n102-54  |  Claims of reporting in accordance with the GRI Standards  |  [ GRI Standard Index  ](/en/ir/management/gri.html)  \n102-55  |  Content index  |  [ GRI Standard Index  ](/en/ir/management/gri.html)  \n102-56  |  External assurance  |   \n  \n###  103: Management Approach\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n103-1  |  Explanation of the material topic and its Boundary  |  [ Sustainability  ](/en/sustainability/)  \n103-2  |  The management approach and its components  |  [ Sustainability  ](/en/sustainability/)  \n103-3  |  Evaluation of the management approach  |  [ Sustainability  ](/en/sustainability/)  \n  \n##  Topic-specific Standards 200: Economic 300: Environmental 400: Social\n\n##  200: Economic\n\n###  201: Economic Performance\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n201-1  |  Direct economic value generated and distributed  |  [ Financial Highlights  ](/en/ir/finance/)  \n201-2  |  Financial implications and other risks and opportunities due to climate change  |  [ Response to Climate Change  ](/en/sustainability/environment/tcfd.html)  \n201-3  |  Defined benefit plan obligations and other retirement plans  |  [ Securities Report  ](/en/ir/library/securities_report.html)  \n201-4  |  Financial assistance received from government  |  N/A   \n  \n###  202: Market Presence\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n202-1  |  Ratios of standard entry level wage by gender compared to local minimum wage  |   \n202-2  |  Proportion of senior management hired from the local community  |   \n  \n###  203: Indirect Economic Impacts\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n203-1  |  Infrastructure investments and services supported  |  [ ESG Data  ](/en/ir/management/esg.html)  \n203-2  |  Significant indirect economic impacts  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  204: Procurement Practices\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n204-1  |  Proportion of spending on local suppliers  |   \n  \n###  205: Anti-corruption\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n205-1  |  Operations assessed for risks related to corruption  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)  \n205-2  |  Communication and training about anti-corruption policies and procedures  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)  \n205-3  |  Confirmed incidents of corruption and actions taken  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)  \n  \n###  206: Anti-competitive Behavior\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n206-1  |  Legal actions for anti-competitive behavior, anti-trust, and monopoly practices  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  207: Tax\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n207-1  |  Approach to tax  |   \n207-2  |  Tax governance, control, and risk management  |   \n207-3  |  Stakeholder engagement and management of concerns related to tax  |   \n207-4  |  Country-by-country reporting  |   \n  \n##  300: Environmental\n\n###  301: Materials\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n301-1  |  Materials used by weight or volume  |  [ ESG Data  ](/en/ir/management/esg.html)  \n301-2  |  Recycled input materials used  |   \n301-3  |  Reclaimed products and their packaging materials  |   \n  \n###  302: Energy\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n302-1  |  Energy consumption within the organization  |  [ ESG Data  ](/en/ir/management/esg.html) |  302-2  |  Energy consumption outside of the organization  |  [ ESG Data  ](/en/ir/management/esg.html)  \n302-3  |  Energy intensity  |  [ ESG Data  ](/en/ir/management/esg.html)  \n302-4  |  Reduction of energy consumption  |  [ ESG Data  ](/en/ir/management/esg.html)  \n302-5  |  Reductions in energy requirements of products and services  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  303: Water and Effluents\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n303-1  |  Interactions with water as a shared resource  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n303-2  |  Management of water discharge-related impacts  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n303-3  |  Water withdrawal  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n303-4  |  Water discharge  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n303-5  |  Water consumption  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n  \n###  304: Biodiversity\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n304-1  |  Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas  |  [ Corporate Release(Japanese)  ](https://prtimes.jp/main/html/rd/p/000000077.000028306.html)  \n304-2  |  Significant impacts of activities, products, and services on biodiversity  |  [ Corporate Release(Japanese)  ](https://prtimes.jp/main/html/rd/p/000000077.000028306.html)  \n304-3  |  Habitats protected or restored  |  [ Corporate Release(Japanese)  ](https://prtimes.jp/main/html/rd/p/000000077.000028306.html)  \n304-4  |  IUCN Red List species and national conservation list species with habitats in areas affected by operations  |  [ Corporate Release(Japanese)  ](https://prtimes.jp/main/html/rd/p/000000077.000028306.html)  \n  \n###  305: Emissions\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n305-1  |  Direct (Scope 1) GHG emissions  |  [ Response to Climate Change  ](/en/sustainability/environment/tcfd.html)  \n305-2  |  Energy indirect (Scope 2) GHG emissions  |  [ Response to Climate Change  ](/en/sustainability/environment/tcfd.html)  \n305-3  |  Other indirect (Scope 3) GHG emissions  |   \n305-4  |  GHG emissions intensity  |  [ Response to Climate Change  ](/en/sustainability/environment/tcfd.html)  \n305-5  |  Reduction of GHG emissions  |  [ Response to Climate Change  ](/en/sustainability/environment/tcfd.html)  \n305-6  |  Emissions of ozone-depleting substances (ODS)  |  N/A   \n305-7  |  Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  306: Effluents and Waste\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n306-1  |  Water discharge by quality and destination  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n306-2  |  Waste by type and disposal method  |  [ ESG Data  ](/en/ir/management/esg.html)  \n306-3  |  Significant spills  |  [ ESG Data  ](/en/ir/management/esg.html)  \n306-4  |  Transport of hazardous waste  |   \n306-5  |  Water bodies affected by water discharges and/or runoff  |  [ Response to Water Resources  ](/ja/commitment/sustainability/environment/water.html)  \n  \n###  307: Environmental Compliance\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n307-1  |  Non-compliance with environmental laws and regulations  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  308: Supplier Environmental Assessment\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n308-1  |  New suppliers that were screened using environmental criteria  |  Answer at CDP   \n308-2  |  Negative environmental impacts in the supply chain and actions taken  |  Answer at CDP   \n  \n##  400: Social\n\n###  401: Employment\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n401-1  |  New employee hires and employee turnover  |  [ ESG Data  ](/en/ir/management/esg.html)  \n401-2  |  Benefits provided to full-time employees that are not provided to temporary or part-time employees  |   \n401-3  |  Parental leave  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  402: Labor/Management Relations\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n402-1  |  Minimum notice periods regarding operational changes  |   \n  \n###  403: Occupational Health and Safety\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n403-1  |  Occupational health and safety management system  |   \n403-2  |  Hazard identification, risk assessment, and incident investigation  |   \n403-3  |  Occupational health services  |   \n403-4  |  Worker participation, consultation, and communication on occupational health and safety  |   \n403-5  |  Worker training on occupational health and safety  |   \n403-6  |  Promotion of worker health  |   \n403-7  |  Prevention and mitigation of occupational health and safety impacts directly linked by business relationships  |   \n403-8  |  Workers covered by an occupational health and safety management system  |   \n403-9  |  Work-related injuries  |  [ ESG Data  ](/en/ir/management/esg.html)  \n403-10  |  Work-related ill health  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  404: Training and Education\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n404-1  |  Average hours of training per year per employee  |  [ ESG Data  ](/en/ir/management/esg.html)  \n404-2  |  Programs for upgrading employee skills and transition assistance programs  |  [ Human Rights & Employees  ](/en/commitment/sustainability/humanrights/)  \n404-3  |  Percentage of employees receiving regular performance and career development reviews  |   \n  \n###  405: Diversity and Equal Opportunity\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n405-1  |  Diversity of governance bodies and employees  |  [ ESG Data  ](/en/ir/management/esg.html)  \n405-2  |  Ratio of basic salary and remuneration of women to men  |   \n  \n###  406: Non-discrimination\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n406-1  |  Incidents of discrimination and corrective actions taken  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  407: Freedom of Association and Collective Bargaining\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n407-1  |  Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)  \n  \n###  408: Child Labor\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n408-1  |  Operations and suppliers at significant risk for incidents of child labor  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)  \n  \n###  409: Forced or Compulsory Labor\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n409-1  |  Operations and suppliers at significant risk for incidents of forced or compulsory labor  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)  \n  \n###  410: Security Practices\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n410-1  |  Security personnel trained in human rights policies or procedures  |   \n  \n###  411: Rights of Indigenous Peoples\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n411-1  |  Incidents of violations involving rights of indigenous peoples  |  N/A   \n  \n###  412: Human Rights Assessment\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n412-1  |  Operations that have been subject to human rights reviews or impact assessments  |   \n412-2  |  Employee training on human rights policies or procedures  |   \n412-3  |  Significant investment agreements and contracts that include human rights clauses or that underwent human rights screening  |   \n  \n###  413: Local Communities\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n413-1  |  Operations with local community engagement, impact assessments, and development programs  |  [ Response to Water Resources  ](/en/sustainability/environment/water.html)  \n413-2  |  Operations with significant actual and potential negative impacts on local communities  |   \n  \n###  414: Supplier Social Assessment\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n414-1  |  New suppliers that were screened using social criteria  |   \n414-2  |  Negative social impacts in the supply chain and actions taken  |  [ Sustainable Procurement Basic Policy  ](/en/rd/ps/procurement_basic_policy.html)  \n  \n###  415: Public Policy\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n415-1  |  Political contributions  |  [ Ethics and Code of Conduct  ](/en/company/way_we_are/ethics.html)   \n[ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  416: Customer Health and Safety\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n416-1  |  Assessment of the health and safety impacts of product and service categories  |  [ Safety and Reliability  ](/en/rd/safety.html)  \n416-2  |  Incidents of non-compliance concerning the health and safety impacts of products and services  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  417: Marketing and Labeling\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n417-1  |  Requirements for product and service information and labeling  |  [ Safety and Reliability  ](/en/rd/safety.html)  \n417-2  |  Incidents of non-compliance concerning product and service information and labeling  |  [ ESG Data  ](/en/ir/management/esg.html)  \n417-3  |  Incidents of non-compliance concerning marketing communications  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  418: Customer Privacy\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n418-1  |  Substantiated complaints concerning breaches of customer privacy and losses of customer data  |  [ Privacy Policy  ](/en/privacy/)   \n[ ESG Data  ](/en/ir/management/esg.html)  \n  \n###  419: Socioeconomic Compliance\n\nID  |  Disclosure  |  Corresponding page   \n---|---|---  \n419-1  |  Non-compliance with laws and regulations in the social and economic area  |  [ ESG Data  ](/en/ir/management/esg.html)  \n  \n## [ O  u  r  B  r  a  n  d  s  ](/en/brand/)\n\n## [ M  a  d  e  b  y  M  i  l  b  o  n  ](/en/rd/)\n\n## [ N  e  w  s  ](/en/news/)\n\n  * [ Top ](/en/)\n  * [ Investors ](/en/ir/)\n  * [ Management Information ](/en/ir/management/)\n  * GRI Standard Index \n\nscroll  back to top\n\nFollow our SNS page\n\n  * [ ](https://www.instagram.com/milbon.japan/)\n  * [ ](https://twitter.com/milbon_FYB_MAG)\n  * [ ](https://www.youtube.com/user/milbonchannel)\n\n\u00a9 Milbon Co., Ltd. All right reserved.\n\n",
                "url": "http://www.milbon.com/en/ir/management/gri.html"
            },
            "reason": "This is Milbon's GRI (Global Reporting Initiative) index page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain. It's a direct source from the company.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "This is Milbon's GRI (Global Reporting Initiative) index page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain.",
            "url": "http://www.milbon.com/en/ir/management/gri.html"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "689296d7-51dd-452d-ac24-574bb9a38ae3",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence"
                },
                "page_content": "Skip to main content\n\n  *   *   * [ Subscribe  ](https://news.whitecase.com/5/38/forms/subscribe.asp \"Subscribe\")\n\nTime%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20  \nhttps://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-\nadopts-corporate-sustainability-due-diligence  \n  \nhttps://news.whitecase.com/5/38/forms/subscribe.asp\n\nmailto:?subject=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&body=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence\n\nhttps://www.linkedin.com/shareArticle?mini=true&url=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence&title=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&source=www.whitecase.com\n\nhttps://twitter.com/intent/tweet?text=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&url=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence&via=WhiteCase\n\nhttps://www.facebook.com/share.php?u=https://www.whitecase.com/insight-\nalert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-\ndiligence&t=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20\n\nhttps://news.whitecase.com/5/38/forms/subscribe.asp\n\n#  Time to get to know your supply chain: EU adopts Corporate Sustainability\nDue Diligence Directive\n\nAlert\n\n05 July 2024\n\n|\n\n* * *\n\n12 min read\n\n[ Clare Connellan ](/people/clare-connellan \"Clare Connellan\") | \n\n[ Genevra Forwood ](/people/genevra-forwood \"Genevra Forwood\") | \n\n[ Sara Nordin ](/people/sara-nordin \"Sara Nordin\") | \n\n[ William De Catelle ](/people/william-de-catelle \"William De Catelle\") | \n\n[ Janina Moutia-Bloom ](/people/janina-moutia-bloom \"Janina Moutia-Bloom\")\n\n* * *\n\n**After a two-and-half-year legislative journey, the EU's Corporate\nSustainability Due Diligence Directive (\"CSDDD\"), has been formally adopted,\nand was published in the EU Official Journal on 5 July 2024. 1  It will come\ninto operation in a staggered way in the coming years, and will introduce\nmandatory human rights and environmental due diligence requirements for large\nEU and non-EU companies operating in the EU. **\n\n##  What is the objective of the CSDDD?\n\nThe aim of the CSDDD is to ensure that EU and non-EU companies active in the\nEU:\n\n\"contribute to sustainable development and the sustainability transition of\neconomies and societies through the **identification, and where necessary,\nprioritisation, prevention and mitigation, bringing to an end, minimisation\nand remediation** of actual or **potential adverse human rights and\nenvironmental impacts** connected with companies' own operations, operations\nof their subsidiaries and of their business partners in the chains of\nactivities of the companies, and ensuring that **those affected** by a failure\nto respect this duty **have access to justice and legal remedies** \".  2\n\n##  How does the CSDDD interact with other laws?\n\nObligations under the CSDDD will apply in addition to other more specific, or\npotentially stricter due diligence obligations under other EU laws such as the\nConflict Minerals Regulation, the Batteries Regulation,  3  the Deforestation\nRegulation,  4  and the forthcoming Forced Labour Regulation.  5\n\nThe CSDDD introduces minimum harmonization, meaning Member States cannot lower\nthe level of protection when transposing the CSDDD into national law. Equally,\nthe CSDDD may not serve as grounds for Member States to reduce the level of\nprotection already afforded under national laws to human, employment and\nsocial rights, or protection of the environment or climate.  6  It is expected\nthat existing laws such as Germany's Supply Chain Act (LkSG) and France's loi\nde vigilance will be affected by the national implementation of the CSDDD.\n\nExcept for the due diligence provisions relating to the identification,\nprevention and termination of adverse impacts, Member States are free to go\nbeyond the CSDDD and introduce stricter obligations or a wider scope.  7\n\n##  Which companies are within scope?\n\nThe thresholds for in-scope 'companies'  8  have been substantially revised\nsince the initial proposal. After a phased implementation, the CSDDD will\napply to:  9\n\n  * EU companies (i.e., companies established under the laws of a Member State) that had above 1,000 employees and above EUR 450 million 'net worldwide turnover' in the last financial year; and \n  * Non-EU companies (i.e., companies established outside of the EU) that generated a 'net turnover in the Union' of more than EUR 450 million in the financial year preceding the last financial year.  10 \n\nThe CSDDD will only apply to those EU and non-EU companies which satisfy the\nrelevant criteria above for two consecutive financial years.  11\n\nThe CSDDD also extends to EU and non-EU \"ultimate parent companies\" of groups\nof EU and/or non-EU companies \u2013 which, taken together as a group, meet the\nabove thresholds. However, an ultimate parent company may be exempt12 if \"[it]\nhas as its main activity the holding of shares in operational subsidiaries and\ndoes not engage in taking management, operational or financial decisions\naffecting the group or one or more of its subsidiaries\" and on condition that\none of its EU subsidiaries is designated to fulfil the parent's obligations\nunder the CSDDD, and the parent has obtained an exemption from the competent\nsupervisory authority.  13\n\n##  When will companies have to comply?\n\nThe CSDDD must be transposed by Member States into national law by 26 July\n2026. These new rules will become applicable to companies according to a\nstaggered timeline set out below, to enable them to prepare. This means that\nit will be several years before the new rules take full effect.\n\nThese new rules will become applicable to companies according to a staggered\ntimeline set out below, to enable them to prepare. This means that it will be\nseveral years before the new rules take full effect.\n\n**Category** |  **Net turnover threshold** |  **Number of employees** |  **Date of application for companies 14  **  \n---|---|---|---  \nEU companies  |  **EUR 1,500 m (global)** |  **5,000** |  **26 July 2027**  \n**EUR 900 m (global)** |  **3,000** |  **26 July 2028**  \n**EUR 450 m (global)** |  **1,000** |  **26 July 2029**  \nNon-EU companies  |  **EUR 1,500 m (in EU)** |  **N/A** |  **26 July 2027**  \n**EUR 900 m (in EU)** |  **N/A** |  **26 July 2028**  \n**EUR 450 m (in EU)** |  **N/A** |  **26 July 2029**  \nEU Franchisors/ Licensors  |  **Turnover: EUR 80 m (global)** |  **N/A** |  **26 July 2029**  \n**Royalties: EUR 22.5 m (global)**  \nNon-EU Franchisors/ Licensors  |  **Turnover: EUR 80 m (in EU)** |  **N/A** |  **26 July 2029**  \n**Royalties: EUR 22.5 m (in EU)**  \n  \n##  What are the specific obligations for companies?\n\n**In-scope companies must take various steps to manage actual and potential\nadverse impacts of their activities on human rights and environmental matters,\narising from (i) their own operations, (ii) the operations of their\nsubsidiaries, and (iii) the operations of their business partners in its chain\nof activities. 15  **\n\nThe \"chain of activities\" does not cover disposal of products, or activities\nof a company's downstream business partners related to the services of the\ncompany. However, it does cover:\n\n  * The activities of a **company's upstream business** partners related to the production of goods or the provision of services by the company (including the design, extraction, sourcing, manufacture, transport, storage and supply of raw materials, products or part of the products and development of the product or the service). \n  * The activities of a **company's downstream business** partners related to the distribution, transport and storage of the product \u2013 where the business partners carry out those activities for the company or on behalf of the company. \n\n###  Core obligations\n\nThe CSDDD's core obligations require in-scope companies to:\n\n  * Adopt a 'risk-based' approach to human rights and environmental due diligence (Article 5); \n  * Integrate due diligence into all relevant policies and risk management systems (Article 7); \n  * Identify and assess actual or potential adverse impacts, and, where necessary, prioritise potential and actual adverse impacts (Articles 8 and 9); \n  * Prevent and (where not possible or immediately possible) mitigate potential adverse impacts; and bring actual adverse impacts to an end and minimise their extent (Articles 10 and 11); \n  * Provide remediation for actual adverse impacts (Article 12); \n  * Carry out meaningful stakeholder engagement (Article 13); \n  * Establish and maintain a notification mechanism and complaints procedure (Article 14); \n  * Monitor the effectiveness of due diligence policy and measures (Article 15); \n  * Publicly communicate on due diligence (Article 16); \n  * Adopting and putting into effect a climate transition plan (Article 22); and \n  * Designate an authorised representative (Article 23). \n\nThe main due diligence obligations under the CSDDD are \"obligations of means\",\nnot \"obligations of result\". Companies are not expected to guarantee that\nadverse impacts will not occur, nor that they will always be prevented. But\nthey are expected to take \"appropriate measures\": measures that are capable of\nachieving the objectives of due diligence.  16  Such measures include\ndeveloping and implementing a prevention action plan; seeking contractual\nassurances from business partners accompanied by measures to verify\ncompliance; making necessary financial or non-financial investments,\nadjustments or upgrades into operational processes and infrastructures;\nmodifying the company's own business plan, strategies and operations including\npurchasing, design and distribution practices; providing targeted and\nproportionate support from SME business partners; or providing remediation.\n\nWhere impacts cannot be prevented or adequately mitigated, minimised or bought\nto an end, as a last resort, the company must: (i) refrain from entering into\nnew or extending existing relations with the relevant business partner; (ii)\nadopt and implement an enhanced prevention action plan without undue delay by\nusing the company's leverage through the temporary suspension of the relevant\nbusiness relationship(s); or (iii) terminate the business relationship (if\nthere is no reasonable expectation that (ii) will succeed).\n\n###  Transition Plans for Climate Change Mitigation\n\nIn-scope companies must adopt and implement a transition plan for climate\nchange mitigation which aims to ensure \"through best efforts\" that the\nbusiness model and strategy of the company align with the Paris Agreement.\nSpecifically, the transition plan shall contain: (i) time-bound targets\n(including for 2030 and for 2050) and key actions planned for reaching them;\n(ii) a description of decarbonisation levers; (iii) an explanation and\nquantification of investments and funding supporting the implementation of the\ntransition plan; and (iv) a description of the role of company management in\nconnection with the plan.  17\n\nCompanies that comply with the EU Corporate Sustainability Reporting Directive\n(CSRD)  18  will be deemed to have complied with this obligation under the\nCSDDD.\n\n##  What are the consequences for non-compliance?\n\n###  Enforcement and Penalties\n\nThe CSDDD will be enforced by the supervisory authorities of Member States,\nwhich will be empowered to carry out investigations where they consider there\nto be \"substantiated concerns\" and may require companies to provide\ninformation in connection with suspected non-compliance with the obligations\nset out in Articles 7 to 16. National supervisory authorities will also be\nrequired to \"at least supervise\" the adoption and design (and updating) of\ncompanies' transition plans. However, they are not required to supervise their\nimplementation. Furthermore, there is no indication that such supervision will\nencompass the formal approval of such transition plans, however, an\nauthority's assessment and determination of non-compliance could give rise to\none of the consequences set out below.\n\nIf a supervisory authority identifies an act of (or an omission amounting to)\nnon-compliance, it may:\n\n  * Order a company to cease the relevant conduct or perform an action to bring it into compliance; abstain from repeating the prohibited conduct; and where appropriate, take remedial action within an appropriate period of time. \n  * Impose a penalty. Penalties will be set by Member States, but shall be effective, proportionate and dissuasive, and take into account a range of factors,  19  with the maximum penalty to be at least 5% of the relevant company's net worldwide turnover in the previous financial year.  20  A pecuniary penalty on an ultimate parent company of a group, shall be calculated based on the consolidated turnover reported by the ultimate parent company.  21 \n\nAdopt interim measures in case of imminent risk of severe and irreparable\nharm.  22\n\nThe CSDDD also notes that Member States have the power to \"withdraw and to\nprohibit the placing, making available on the market and export of products\nunder other Union legislative acts\".  23\n\n###  Civil liability and other consequences\n\nThe CSDDD requires Member States to ensure that companies can be held liable\nfor damages caused to natural or legal persons where the company\n\"intentionally or negligently\" fails to comply with Article 10 and 11\nobligations (to prevent and mitigate impact, or to end or minimise such\nimpacts), although this is limited to situations where the relevant rights,\nprohibitions or obligations are aimed at protecting the specific claimant, and\nthe failure caused damage.  24\n\nWhile the \"causality\" would be a question for domestic courts to determine in\naccordance with national law, the CSDDD specifically excludes liability if the\ndamage is caused only by the business partners in the company's chain of\nactivities.  25  However, where damage is found to have been caused jointly by\nthe company and its subsidiary, or by the company and a business partner, the\ncompany will be jointly and severally liable.  26\n\nFull compensation under the CSDDD shall not lead to overcompensation, whether\nby means of punitive, multiple or other types of damages.  27\n\nMember States may determine the conditions under which trade unions, civil\nsociety organisations and national human rights institutions can bring\ncollective redress mechanisms on behalf of victims.  28\n\nCompliance with the CSDDD could also be qualified as a criterion for the award\nof public contracts and concessions. As a result, any non-compliance could\nconstitute a breach of any such contract or terms of concession.  29\n\n##  What next?\n\nThe CSDDD's entry into force on 25 July 2024 triggers the transposition period\nfor Member States to adopt national laws transposing the CSDDD obligations.\nCompanies will need to comply according to the staggered timeline set out\nabove.\n\nA \"review\" provision at Article 36(2) of the CSDDD will require the Commission\n(by 26 July 2030 and every three years thereafter) to submit to the Parliament\nand Council a report and any accompanying legislative proposals considered\nnecessary, on whether to amend key elements of the legislation including: the\nemployee and net turnover thresholds for falling in-scope; the definition of\nthe term \"chain of activities\"; the rules on combatting climate change,\npenalties and civil liability; or (introduction of) sector-specific approach\nfor high-risk sectors.  30\n\nRuth Benbow (Knowledge Manager, London) contributed to the development of this\npublication.\n\n1 Directive (EU) 2024/1760 of the European Parliament and of the Council of 13\nJune 2024 on corporate sustainability due diligence and amending Directive\n(EU) 2019/1937 and Regulation (EU) 2023/2859, available  [ here\n](https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202401760) .  \n2 Recital 16.  \n3 See White & Case alert, \u201cNew EU Batteries Regulation: introducing enhanced\nsustainability, recycling and safety requirements\u201d, 2 August 2023, available\n[ here  ](https://www.whitecase.com/insight-alert/new-eu-batteries-regulation-\nintroducing-enhanced-sustainability-recycling-and-safety) .  \n4 See White & Case alert, \u201c10 key things to know about the new EU\nDeforestation Regulation\u201d, 21 July 2023, available  [ here\n](https://www.whitecase.com/insight-alert/10-key-things-know-about-new-eu-\ndeforestation-regulation) .  \n5 The CSDDD provides that if a provision conflicts with another EU legislative\nact pursuing the same objectives and providing for more extensive or more\nspecific obligations, that other EU legislative act shall prevail. Article\n1(3).  \n6 Article 1(2).  \n7 Article 4.  \n8 Article 3(1)(a) contains a detailed definition of 'company'.  \n9 Article 2.  \n10 The European Network of Supervisory Authorities will publish an indicative\nlist of third-country companies subject to the CSDDD.  \n11 As explored in the table above, lower financial thresholds will also apply\nto EU and non-EU companies that rely on franchise or license models where the\ncompany's or group's agreements with third parties ensure a common identity, a\ncommon business concept and the application of uniform business methods. See\nArticle 2(1)(c) and 2(2)(c).  \n12 Other types of entities are also exempt from complying with obligations\nunder the CSDDD, including Alternative Investment Funds (AIFs) and\nundertakings for collective investment in transferable securities (UCITS).\nArticle 2(8).  \n13 Article 2(3).  \n14 Note that the obligation to communicate on due diligence (article 16)\nfollows a different timeline (Article 37).  \n15 Article 1(a).  \n16 Recital 19.  \n17 Article 22.  \n18 See W&C's contribution to ICC UK's Trade for Prosperity magazine \u201cThe\nCorporate Sustainability Reporting Directive: EU rules with global impact on\nbusiness\u201d, Spring 2024, available  [ here\n](https://cloud.3dissue.com/176015/176404/205852/ICCTradeForProsperityWS24DE/index.html)\n, page 90.  \n19 These are: (a) the nature, gravity and duration of the infringement, and\nthe severity of the impacts resulting from that infringement; (b) any\ninvestments made and any targeted support provided pursuant to Articles 10 and\n11; (c) any collaboration with other entities to address the impacts\nconcerned; (d) where relevant, the extent to which prioritisation decisions\nwere made in accordance with Article 9; (e) any relevant previous decisions\nfinding infringements by the company; (f) the extent to which the company\ncarried out any remedial action with regard to the concerned subject-matter;\n(g) the financial benefits gained from or losses avoided by the company due to\nthe infringement; and (h) any other aggravating or mitigating factors\napplicable to the circumstances of the case. See Article 27(2).  \n20 Article 27(4).  \n21 Article 27(4).  \n22 Article 25(5)(c).  \n23 Recital 76.  \n24 Article 29(1).  \n25 Article 29(1).  \n26 Article 29(5).  \n27 Article 29(2).  \n28 Article 29(3)(d).  \n29 Article 31.  \n30 Article 36.\n\nWhite & Case means the international legal practice comprising White & Case\nLLP, a New York State registered limited liability partnership, White & Case\nLLP, a limited liability partnership incorporated under English law and all\nother affiliated partnerships, companies and entities.\n\nThis article is prepared for the general information of interested persons. It\nis not, and does not attempt to be, comprehensive in nature. 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Prior results do not guarantee a similar outcome.\n\n##  Search Dialog\n\nShare a link to this page\n\n  * [ Email  ](mailto:?subject=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&body=https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence)\n  * [ LinkedIn  ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence&title=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&source=www.whitecase.com)\n  * [ X  ](https://twitter.com/intent/tweet?text=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20&url=https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence&via=WhiteCase)\n  * [ Facebook  ](https://www.facebook.com/share.php?u=https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence&t=Time%20to%20get%20to%20know%20your%20supply%20chain%3A%20EU%20adopts%20Corporate%20Sustainability%20Due%20Diligence%20Directive%20)\n\n",
                "url": "https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence"
            },
            "reason": "White & Case is a reputable law firm. This insight alert discusses the EU's Corporate Sustainability Due Diligence Directive, which directly relates to supply chain human rights. It provides legal expertise and analysis.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "White & Case is a reputable law firm. This insight alert discusses the EU's Corporate Sustainability Due Diligence Directive, which directly relates to supply chain human rights.",
            "url": "https://www.whitecase.com/insight-alert/time-get-know-your-supply-chain-eu-adopts-corporate-sustainability-due-diligence"
        },
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                    "source": "https://www.renesas.com/en/about/sustainability/gri"
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                "url": "https://www.renesas.com/en/about/sustainability/gri"
            },
            "reason": "This is Renesas's GRI (Global Reporting Initiative) index page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain. It's a direct source from the company.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "This is Renesas's GRI (Global Reporting Initiative) index page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain.",
            "url": "https://www.renesas.com/en/about/sustainability/gri"
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                    "source": "https://www.laborandemploymentlawcounsel.com/2024/06/eu-corporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-regulations/"
                },
                "page_content": "Skip to content\n\nBy [ Ameena Y. Majid ](https://www.seyfarth.com/people/ameena-y-majid.html) ,\n[ Matthew Banham ](https://www.seyfarth.com/people/matthew-banham.html) , and\n[ Fiona Maguire ](https://www.seyfarth.com/people/fiona-maguire.html)\n\n**_Seyfarth Synopsis:_ ** _Game changing Environmental, Social, and Governance\n(\u201cESG\u201d) regulations via the Corporate Sustainability Due Diligence Directive\n(\u201cCS3D\u201d) [ [1] ](https://www.seyfarth.com/news-insights/eu-corporate-\nsustainability-due-diligence-directive-raises-the-stakes-on-esg-\nregulations.html#_ftn1) will require non-EU and EU companies to identify and\nprevent adverse environmental and human rights impacts within their business,\nand the supply chain operations carried out by their business partners. On May\n24, 2024, the European Council adopted the CS3D proposal. EU Member states\nhave two years from the date the CS3D is published in the European Union\nOfficial Journal (expected in June 2024) to transpose the CS3D into national\nlaw. The CS3D will be phased-in over three years, with the largest companies\nexpected to achieve compliance by 2027 _ .\n\nThe CS3D marks a historic shift in the ESG regulatory landscape. By\nestablishing a corporate due diligence duty, the CS3D makes in-scope\ncompanies, including those based outside the EU, responsible for the negative\nenvironmental and adverse human rights impacts arising from their operations\nand their business partners. Adverse human rights are widely defined by\ninternational principles to include, among other rights, the right to a fair\nwage, just and favorable working conditions and an obligation to engage with\ntrade unions and stakeholders at all stages of the due diligence process. CS3D\nalso requires in-scope companies to adopt a climate transition plan in line\nwith the Paris Agreement. Non-compliance can result in significant penalties,\ncivil lawsuits, disbarment from public procurement contracts and reputational\ndamage.\n\nThe European Commission estimates that approximately 6,000 large EU limited\nliability companies and partnerships with more than 1,000 employees and\ngreater than \u20ac450 million net turnover worldwide will be impacted and\napproximately 900 large non-EU companies with more than \u20ac450 million net\nturnover in the EU will be directly impacted.  [ [2]\n](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-\ndiligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn2) While\nsmall and medium enterprises and other non-EU companies are not covered, the\nambit of the CS3D will have indirect implications for value chain business\npartners that will need to be cognizant of the CS3D obligations.\n\nGiven the complexity and challenges of these new obligations, companies\naffected by these changes should start planning now to assess and adapt their\nprocesses accordingly.\n\nWhile adopting a compliance mindset is a natural approach to a mandatory due\ndiligence scheme, the European Commission has highlighted trust in business as\none of the key aims and expected benefits of the CS3D. Other expected benefits\ninclude better risk management, resilience, increased attractiveness for\ntalent and investment, and better protection of human rights and the\nenvironment.\n\n**_What companies are subject to the CS3D?_ **\n\nThe CS3D applies to both EU and non-EU companies with activities in the EU\nthat meet certain revenue turnover and, if applicable, employee thresholds\n***** . The thresholds can apply to EU and non-EU companies on either a\nstandalone or consolidated basis.\n\n**EU Companies** |  **Non-EU Companies** |  **EU Companies with EU franchising or licensing agreements** |  **Non-EU Companies with EU franchising or licensing agreements**  \n---|---|---|---  \n> 1,000 employees on average; and net worldwide turnover > \u20ac450 million  |  Net turnover > \u20ac450 million in the EU  |  Net worldwide turnover > \u20ac80 million (with at least \u20ac22.5 million generated by royalties)  |  Net EU turnover > \u20ac80 million (with at least \u20ac22.5 million generated by royalties)   \n  \n*For companies to be in scope they must meet the applicable criteria for two consecutive financial years before the EU CS3D applies to the organization. \n\n**_How does CS3D impact companies?_ **\n\nThe CS3D adopts the core standards found within the OECD Guidelines for\nMultinational Enterprises (\u201cOECD Guidelines\u201d) and the United Nations Guiding\nPrinciples on Business and Human Rights (the \u201cUNGPs\u201d). At a high-level, the\nCS3D requires in-scope EU and non-EU companies to:\n\n  * Conduct due diligence to identify and assess adverse environmental and human rights impacts that arise from their business operations and across their \u201cchain of activities,\u201d which includes suppliers, subcontractors, and business partners; [ [3] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn3)\n  * Once identified and assessed, implement \u201cappropriate measures\u201d to prevent, mitigate and remediate the identified adverse impacts; and \n  * Implement, on a best efforts basis, a climate transition plan for their operations which is designed to limit global warming to net zero by 2050, aligned with the Paris Agreement and achieving climate neutrality under the European Climate Law. \n\nAdverse environmental impacts and human rights violations include, among\nothers, biodiversity loss, air and water pollution, labor exploitation\nincluding the right to just and favorable conditions of work including a fair\nwage and natural heritage destruction.  [ [4] ](https://www.seyfarth.com/news-\ninsights/eu-corporate-sustainability-due-diligence-directive-raises-the-\nstakes-on-esg-regulations.html#_ftn4)\n\n**_Which business partners do companies need to consider?_ **\n\nCompanies will need to address both direct and indirect activities in their\ndue diligence obligations, which means understanding their chain of activity\nand engaging with their business partners. The CS3D refers to the company\u2019s\n\u201cchain of activities,\u201d which includes upstream and downstream business\npartners.  [ [5] ](https://www.seyfarth.com/news-insights/eu-corporate-\nsustainability-due-diligence-directive-raises-the-stakes-on-esg-\nregulations.html#_ftn5)\n\n**Business Partner [ [6] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn6) ** |  Direct entity with which the company has a commercial agreement relating to the company\u2019s operations, products or services, or to which the company provides services, or Indirect entity which is not a direct business partner but conducts business operations relating to the company\u2019s operations, products or services   \n---|---  \n**Upstream Business Partners** |  Those related to the production of goods or the provision of services by the company (design, extraction, sourcing, manufacture, transport, storage and supply of raw materials, products or parts of the products and development of the product or the service)   \n**Downstream Business Partners** |  Those related to the distribution, transport and storage of the product, where the business partners carry out those activities for or on behalf of the company (with exclusions for certain security risks and the export control relating to war materials and B2B or B2C customers)   \n  \n**_What due diligence will companies need to perform?_ **\n\nThe CS3D risk based due diligence process mirrors the six steps outlined in\nthe OECD Due Diligence Guidance for Responsible Business Conduct.  [ [7]\n](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-\ndiligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn7) Companies\nmust implement \u201cappropriate measures\u201d to address the adverse impacts\nidentified in their own operations and where related to their chain of\nactivities, those of their business partners.  [ [8]\n](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-\ndiligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn8) Those\nsteps are:\n\n**Integrate Responsible Business Conduct into Policies and Management Systems** |  Adopting responsible business conduct policies based on the OECD Guidelines for Multinational Enterprises and embedding them into management systems  [ [9] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn9)  \n---|---  \n**Identify and Assess Impacts** |  Identifying and assessing actual and potential **_adverse impacts_ ** associated with company activities  [ [10] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn10) , which may require in-depth scoping to understand and prioritize the most significant risks and responses  [ [11] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn11)  \n**Design and Implement Strategies to Address Impacts** |  Based on the risk assessment, developing strategies that **_prevent or mitigate_ ** adverse impacts, which involves: integrating responsible business conduct into their policies, employee trainings, and business relationships; bringing adverse impacts to an end; remediating such impacts; and engaging in meaningful stakeholder engagement  [ [12]. ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn12)  \n**Track Implementation and Results** |  Monitoring the implementation and effectiveness of strategies, conducting regular evaluations and updating strategies accordingly  [ [13] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn13)  \n**Communication** |  Appropriately publishing information and engaging with relevant stakeholders to promote collaboration and transparency  [ [14] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn14)  \n**Providing Remediation** |  Establishing grievance mechanisms such as a roadmap for remediation, standard timelines, and sufficient resources to resolve complaints  [ [15] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn15)  \n  \n**_What is a climate transition plan?_ **\n\nIn-scope companies will be required to adopt an action plan which outlines how\nthe organization will pivot, through best efforts, its existing assets and\noperations to be in alignment with the Paris Agreement\u2019s goal of limiting\nglobal warming to 1.5\u00b0C. Companies may fulfill the obligation of creating a\ntransition plan when complying with the CS3D, but will need to actually\nimplement the plan and complete annual updates in order to fully comply with\nthe CS3D.  [ [16] ](https://www.seyfarth.com/news-insights/eu-corporate-\nsustainability-due-diligence-directive-raises-the-stakes-on-esg-\nregulations.html#_ftn16)\n\n**_What are the practical implications for companies impacted by CS3D?_ **\n\nAlthough some EU states already have in force a soft version of this directive\n(Duty of Vigilance Act in France, Supply Chain Due Diligence Act in Germany),\nthe CS3D is stricter. Further, the CS3D sets minimum standards allowing EU\nmember states to implement more stringent provisions if they choose. The\npotential for differing CS3D standards across the EU will require companies to\nconduct legal risk assessments across the EU members states to ensure they are\nworking to the highest standard.\n\nCompanies will have to undertake a \u201croot and branch\u201d review of their\noperations. This will require mapping, tracking and understanding their chain\nof activities to identify their business partners and suppliers through a more\nstringent lens and implement management systems for compliance. With all\nthings ESG, we suggest approaching the CS3D with both a top-down and bottom-up\nperspective that is grounded in the company\u2019s corporate purpose and values.\n\nIn the human rights arena, many multinational enterprises have developed human\nrights programs aligned with the UNGPs\u2019 pillar for businesses to respect human\nrights. These companies can use those programs as a baseline to assess the\nwork needed for compliance with the CS3D by conducting a gap analysis of those\nprograms against the CS3D. The UNGPs contain a similarly comprehensive scope\nof human rights, which like the CS3D, look to the ILO core conventions,\nincluding the ILO Declaration on Fundamental Principles and Rights at Work.\n\nWe expect companies to refresh their contractual provisions with their\nrelevant business partners to assess their ability to obtain, assess and\nmonitor their business partners operational impact on the environment and\nhuman rights. Employing a consultative process with Member States and\nstakeholders, the European Commission will adopt model contractual clauses. It\nwill be interesting to watch the nature of the clauses and whether it will\nsignify a shift in the contracting approach from a transactional, liability\nshifting approach to one that reflects a shared responsibility. Observing the\nshift in the regulatory landscape, this is the approach the ABA has taken with\nrespect to its model language for the protection of human rights in\ninternational supply chain contracts.  [ [17] ](https://www.seyfarth.com/news-\ninsights/eu-corporate-sustainability-due-diligence-directive-raises-the-\nstakes-on-esg-regulations.html#_ftn17)\n\nAs part of the impact identification process, we also expect that such\nagreements will be re-evaluated to assess whether the terms of those\nagreements as reflected in business practices could lead to any identified\nadverse impacts. For example, if a company engages with a supplier for the\nproduction of goods, a company should evaluate whether the production costs\nand schedule are structured in such a way that it could lead to fostering\nconditions that contribute to adverse human rights impacts (e.g., excessive\nworking hours, wages below a living wage).\n\nCompanies will more than likely need to invest in new resources and update\ngovernance and management reporting. As a corollary, business partners will\nfind they are required to provide more detailed disclosure questionnaires.\nWhile the CS3D favors working with business partners towards compliance\ninstead of terminating contracts, termination could be a real possibility for\nbusiness partners who fail to upgrade their working practices to mirror those\nof the entity directly captured by the CS3D. In this regard, capacity building\namong business partners will be needed and required, particularly for a\nbusiness partner that is a small and medium enterprise.\n\n**_How does this relate with other European directives and regulations?_ **\n\nThe CS3D will also operate alongside other recent directives and regulations.\nThese include the EU Corporate Sustainability Reporting Directive (\u201cCSRD\u201d) and\nthe EU Sustainable Finance Disclosure Regulation (\u201cSFDR\u201d).\n\n  * The CSRD requires companies to disclose their human rights and environmental impacts using a double materiality standard. This standard requires companies to assess the material impacts of their business on the environment and human rights (the impact lens) as well as the material impacts of these matters on the business (the financial lens). \n  * The SFDR impacts investors on how they market and report on green and human rights friendly investments. \n\nTogether these laws complement each other and aim to advance the EU\u2019s goals of\ntransitioning the EU economy to a \u201csustainable and just future\u201d. It also has\nsynergies with the EU Deforestation Regulation, EU legislation to ban\ngreenwashing as well as upcoming legislation including EU Forced Labor\nRegulation and EU Packaging and Packaging Waste Regulation.\n\n**_When will the CS3D be implemented?_ **\n\nAssuming the CS3D is published in the European Union Official Journal in 2024,\nthe CS3D will be phased in over a three year period based on certain\nthresholds:\n\n|  **2027** |  **2028** |  **2029**  \n---|---|---|---  \n**EU Companies** |  Companies with > 5,000 employees; and Net worldwide turnover > \u20ac1.5 billion  |  Companies with > 3,000 employees; and Net worldwide turnover > \u20ac900 million  |  Companies with > 1,000 employees; and Net worldwide turnover > \u20ac450 million   \n**Non-EU Companies** |  Net EU turnover > \u20ac1.5 billion  |  Net EU turnover > \u20ac900 million  |  Net EU turnover > \u20ac450 million   \n**Companies with EU franchising or licensing agreements** |  N/A  |  N/A  |  Applicable net turnover > \u20ac80 million (with at least \u20ac22.5 million generated by royalties)   \n|  |  |  |  |   \n  \n**_What are the consequences for non-compliance?_ **\n\nThe CS3D defers to the Member States to establish or assign a regulatory body,\nsupported by the European Network of Supervisory Authorities, that will be\nresponsible for investigating and enforcing penalties. Breaches of the CS3D\ncould result in fines, civil liability and reputational harm.\n\n**Fines** |  A maximum fine, established by a Member State, of up to 5% of the company\u2019s net worldwide turnover in the financial year preceding the fining decision  [ [18] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn18) Companies with appropriate due diligence measures and controls can avoid enforcement action if they have implemented \u201cappropriate measures\u201d to address the relevant adverse impacts   \n---|---  \n**Civil Liability** |  Civil liability for damages the company \u201cintentionally or negligently\u201d failed to comply with their CS3D obligations and, as a result of the failure, caused damage to a natural or legal person\u2019s legal interest protected under national law  [ [19] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn19) The CS3D creates a private right of action for those adversely affected and allows trade unions and NGOs to act on their behalf in bringing such actions _Note:_ Companies are not liable for actions caused _solely_ by business partners in its chain of activities   \n**Reputational Harm** |  Penalties will be made publicly available for at least 5 years and sent to the European Network of Supervisory Authorities  [ [20] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-due-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftn20)  \n  \n**_Looking Ahead_ **\n\nIn our past ESG alerts, our team has described ESG as reflecting the business\nparadigm shifting from transactional to relational. Cutting through the noise\nthat surrounds the use of the term ESG, we offer that ESG is a framework for\nassessing an organization\u2019s practices and governance on relevant ESG matters\nthat span the human rights and environmental arenas against stakeholder-\ncentric factors in furtherance of a sustainable and resilient business. ESG\nmatters influence \u201chow\u201d an organization conducts business and the practices it\nengages in to be profitable.\n\nThe CS3D fully embodies and reflects this shift.\n\nBecause organizations \u2013 both private and public \u2013 are assessing compliance\nwith a broad swath of ESG regulations that are already in effect or will be\nwithin the next few years, we offer organizations to approach this labyrinth\nof ESG regulations by:\n\n  1. Understanding your organization\u2019s current ESG strategy, goals and efforts; \n  2. Learning who in the organization are the key drivers of the strategy and their vision; \n  3. Becoming familiar with current reports and which reporting frameworks, if any, your organization may use; \n  4. Assessing whether the company is directly or indirectly subject to a given regulation which may cover similar topics; \n  5. Centralizing ESG data through the use of software systems that can give a single source of authority for assessing credibility of data; \n  6. Understanding the materiality standards, if any, and any materiality assessments that have been conducted and for what purpose; \n  7. Working with counsel to consider applying privilege protocols and oversight of materiality assessments conducted pursuant to regulatory requirements; \n  8. Working with procurement and the ESG teams to learn the business partners who may be directly subject to a regulation whereby your company may be asked to change practices or provide information; and \n  9. Assessing the company\u2019s human rights and environmental practices and programs against the highest or most comprehensive standard. \n\nIf you have questions, please reach out to the authors and the Seyfarth Impact\n& Sustainability team for assistance.\n\n* * *\n\n[ [1] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref1) [\n_European Parliament legislative resolution of 24 April 2024 on the proposal\nfor a_ ](https://www.europarl.europa.eu/doceo/document/TA-9-2024-0329_EN.pdf)\n[ _directive of the European Parliament and of the Council on Corporate\nSustainability_\n](https://www.europarl.europa.eu/doceo/document/TA-9-2024-0329_EN.pdf) [ _Due\nDiligence and amending Directive (EU) 2019/1937 (COM(2022)0071 \u2013 C9-0050/2022\n\u2013 2022/0051(COD))_\n](https://www.europarl.europa.eu/doceo/document/TA-9-2024-0329_EN.pdf) (the\n\u201cCS3D\u201d). The Directive is also commonly referred to as \u201cEU CSDDD.\u201d\n\n[ [2] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref2)\nEuropean Commission website: _\u201c_ [ _Corporate Sustainability Due Diligence_\n](https://commission.europa.eu/business-economy-euro/doing-business-\neu/corporate-sustainability-due-diligence_en#which-companies-will-the-new-eu-\nrules-apply-to) _\u201d_\n\n[ [3] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref3)\nThe Commission in consultation with the EU will issue due diligence guidance\nand climate transition plans by 2027.\n\n[ [4] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref4)\nEuropean Parliament, Press Release, April 24, 2024, \u201c [ _Due diligence: MEPs\nadopt rules for firms on human rights and environment_ \u201d\n](https://www.europarl.europa.eu/news/en/press-room/20240419IPR20585/due-\ndiligence-meps-adopt-rules-for-firms-on-human-rights-and-\nenvironment#:~:text=The%20European%20Parliament%20approved%20with,on%20human%20rights%20and%20the)\n\n[ [5] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref5)\nCS3D Article 3(1)(g)\n\n[ [6] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref6)\nCS3D Article 3(1)(f)\n\n[ [7] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref7)\nCS3D (20) and Article 5\n\n[ [8] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref8)\nCS3D Article 5\n\n[ [9] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref9)\nCS3D Article 7\n\n[ [10] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref10)\nCS3D Article 8\n\n[ [11] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref11)\nCS3D Article 9\n\n[ [12] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref12)\nCS3D Articles 10-13\n\n[ [13] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref13)\nCS3D Article 15\n\n[ [14] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref14)\nCS3D Article 16\n\n[ [15] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref15)\nCS3D Article 14\n\n[ [16] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref16)\nCS3D Article 22\n\n[ [17] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref17)\n_See, e.g.,_ Model Contract Clauses to Protect Workers in International Supply\nChains, Version 2.0 by the Working Group to Draft Model Contract Clauses to\nProtect Human Rights in International Supply Chains, ABA Business Law Section.\n\n[ [18] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref18)\nCS3D Article 27(4)\n\n[ [19] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref19)\nCS3D Article 29; this liability is subject to a five-year limitation period\nand excludes damage caused solely by a company\u2019s business partners\n\n[ [20] ](https://www.seyfarth.com/news-insights/eu-corporate-sustainability-\ndue-diligence-directive-raises-the-stakes-on-esg-regulations.html#_ftnref20)\nCS3D Article 27(5)\n\nTags: [ Corporate Sustainability Due Diligence\n](https://www.laborandemploymentlawcounsel.com/tag/corporate-sustainability-\ndue-diligence/) , [ Environmental\n](https://www.laborandemploymentlawcounsel.com/tag/environmental/) , [ ESG\n](https://www.laborandemploymentlawcounsel.com/tag/esg/) , [ Governance\n](https://www.laborandemploymentlawcounsel.com/tag/governance/) , [ social\n](https://www.laborandemploymentlawcounsel.com/tag/social/)\n\nPrint:\n\n[ Email this post\n](mailto:?subject=EU%20Corporate%20Sustainability%20Due%20Diligence%20Directive%3A%20Raising%20the%20Stakes%20on%20ESG%20Regulations%20-%20Employment%20Law%20Lookout&body=https://www.laborandemploymentlawcounsel.com/2024/06/eu-\ncorporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-\nregulations/) [ Tweet this post\n](https://twitter.com/share/?text=EU+Corporate+Sustainability+Due+Diligence+Directive%3A+Raising+the+Stakes+on+ESG+Regulations&url=https://www.laborandemploymentlawcounsel.com/2024/06/eu-\ncorporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-\nregulations/) [ Like this post\n](https://www.facebook.com/sharer.php/?u=https://www.laborandemploymentlawcounsel.com/2024/06/eu-\ncorporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-\nregulations/) [ Share this post on LinkedIn\n](http://www.linkedin.com/shareArticle/?mini=true&url=https%3A%2F%2Fwww.laborandemploymentlawcounsel.com%2F2024%2F06%2Feu-\ncorporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-\nregulations%2F&title=EU+Corporate+Sustainability+Due+Diligence+Directive%3A+Raising+the+Stakes+on+ESG+Regulations+-+Employment+Law+Lookout&summary)\n\n[ ](http://www.seyfarth.com/SaraEber) [ Seyfarth Shaw LLP\n](http://www.seyfarth.com/SaraEber)\n\n[ Read more about Seyfarth Shaw LLP  ](http://www.seyfarth.com/SaraEber)\n\n[ ](http://www.seyfarth.com/)\n\n[ RSS  ](/feed/) [ Twitter  ](https://www.twitter.com/seyfarthshawLLP) [\nLinkedIn  ](https://www.linkedin.com/company/seyfarth-shaw) [ Facebook\n](https://www.facebook.com/official.seyfarthshaw/)\n\n###  About Employment Law Lookout\n\nSeyfarth Shaw LLP\u2019s Employment Law Lookout: Insights for Management is a\nresource for employers seeking intelligent discourse and updates on today\u2019s\nmost pressing workplace issues. Our mission is two-fold: to provide critical,\nreal-time updates on employment law matters to in-house counsel and HR\nexecutives, and to keep our audience apprised of new trends and developments\non the horizon. Seyfarth\u2019s bloggers draw upon their own first-hand experiences\ncounseling businesses large and small to provide you with their insights about\nthe most cutting-edge issues on new regulations, guidance, and court\ndecisions.\n\nCopyright \u00a9 2025, Seyfarth Shaw LLP. All Rights Reserved.  [ Law blog design &\nplatform by LexBlog ](https://www.lexblog.com/products/blog-plus/)\n\n",
                "url": "https://www.laborandemploymentlawcounsel.com/2024/06/eu-corporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-regulations/"
            },
            "reason": "This website provides legal commentary on labor and employment law. The article discusses the EU Corporate Sustainability Due Diligence Directive, which is relevant to supply chain human rights. While it offers expert analysis, it may contain some degree of legal interpretation.",
            "reliability_score": 0.7,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "This website provides legal commentary on labor and employment law. The article discusses the EU Corporate Sustainability Due Diligence Directive, which is relevant to supply chain human rights.",
            "url": "https://www.laborandemploymentlawcounsel.com/2024/06/eu-corporate-sustainability-due-diligence-directive-raising-the-stakes-on-esg-regulations/"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "aeb71530-a6e9-40f3-a8dd-a36df407078e",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.kddi.com/english/corporate/sustainability/report/guideline/"
                },
                "page_content": "  1. [ KDDI HOME  ](/english/)\n  2. [ Corporate Information  ](/english/corporate/)\n  3. [ Sustainability  ](/english/corporate/sustainability/)\n  4. [ Sustainability Report  ](/english/corporate/sustainability/report/)\n  5. Comparative Table with Guidelines \n\n#  Comparative Table with Guidelines\n\nPrint This Page\n\n##  Comparative Table with GRI Standards\n\nKDDI prepared this report by referencing the GRI Sustainability Reporting\nStandards.\n\n###  GRI 102: General Disclosures\n\nItem  |  Reference Page   \n---|---  \n1\\. Organizational profile  \n102-1  |  Name of the organization  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-2  |  Activities, brands, products, and services  | \n\n  * [ Mid-Term Management Strategy ](/english/vision/#mediumTermAnc)\n  * [ Brand (Switchable to English within the page) ](https://brand.kddi.com/)\n\n  \n102-3  |  Location of headquarters  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-4  |  Location of operations  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-5  |  Ownership and legal form  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-6  |  Markets served  | \n\n  * [ Mid-Term Management Strategy ](/english/vision/#mediumTermAnc)\n\n  \n102-7  |  Scale of the organization  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-8  |  Information on employees and other workers  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-9  |  Supply Chain  | \n\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n\n  \n102-10  |  Significant changes to the organization and its supply chain  |  N/A   \n102-11  |  Precautionary principle or approach  | \n\n  * [ Risk Management ](/english/corporate/sustainability/risk-management/)\n\n  \n102-12  |  External initiatives  | \n\n  * [ Participation in External Initiatives ](/english/corporate/sustainability/engagement/)\n\n  \n102-13  |  Membership of associations  | \n\n  * [ Organizations to Which KDDI Belongs or Is Giving Its Cooperation (Safety of Radio Waves) ](/english/corporate/sustainability/network/)\n  * [ Initiatives by the CSIRT ](/english/corporate/sustainability/security/)\n  * [ BSR (Business for Social Responsibility) __ ](/extlib/files/english/corporate/csr/csr_report/2021/pdf/report2021_en.pdf#page=35)\n  * [ 1% Club ](/english/corporate/sustainability/contribution/)\n  * [ Participation in External Initiatives ](/english/corporate/sustainability/engagement/)\n\n  \n2\\. Strategy  \n102-14  |  Statement from senior decision-maker  | \n\n  * [ CEO Message ](/english/corporate/kddi/president/)\n\n  \n102-15  |  Key impacts, risks, and opportunities  | \n\n  * [ Risk Management and Internal Controls ](/english/corporate/sustainability/risk-management/)\n  * [ Safer and More Resilient Connected World ](/english/corporate/sustainability/network/)\n  * [ Cyber Security and Privacy Protection ](/english/corporate/sustainability/security/)\n  * [ Innovation Management ](/english/corporate/sustainability/innovation/)\n  * [ Human Resources ](/english/corporate/sustainability/employee/)\n  * [ Respect for Human Rights ](/english/corporate/sustainability/human-rights/)\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n  * [ Environment ](/english/corporate/sustainability/efforts-environment/)\n\n  \n3\\. Ethics and Integrity  \n102-16  |  Values, principles, standards, and norms of behavior  | \n\n  * [ Credo, The KDDI Group Mission Statement, The KDDI Group Philosophy, KDDI Code of Business Conduct ](/english/corporate/kddi/philosophy/)\n\n  \n102-17  |  Mechanisms for advice and concerns about ethics  | \n\n  * [ Compliance ](/english/corporate/sustainability/compliance/)\n\n  \n4\\. Governance  \n102-18  |  Governance structure  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Corporate Governance ](/english/corporate/ir/governance/)\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n102-19  |  Delegating authority  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Corporate Governance ](/english/corporate/ir/governance/)\n  * [ Risk Management and Internal Controls ](/english/corporate/sustainability/risk-management/)\n\n  \n102-20  |  Executive-level responsibility for economic, environmental, and social topics  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Corporate Governance ](/english/corporate/ir/governance/)\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n  * [ Risk Management and Internal Controls ](/english/corporate/sustainability/risk-management/)\n\n  \n102-21  |  Consulting stakeholders on economic, environmental, and social topics  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Stakeholder Engagement ](/english/corporate/sustainability/engagement/)\n\n  \n102-22  |  Composition of the highest governance body and its committees  | \n\n  * [ Corporate Governance Framework ](/english/corporate/sustainability/governance/#a03)\n  * [ Composition of Directors and Advisory Committees ](/english/corporate/sustainability/governance/#a03)\n\n  \n102-23  |  Chair of the highest governance body  | \n\n  * [ Composition of Directors and Advisory Committees ](/english/corporate/sustainability/governance/#a03)\n\n  \n102-24  |  Nominating and selecting the highest governance body  | \n\n  * [ Policy and Procedure for the nomination of Director and Audit & Supervisory Board member candidates by the Board of Directors ](/english/corporate/sustainability/governance/#a10)\n\n  \n102-25  |  Conflicts of interest  | \n\n  * [ Corporate Governance Framework ](/english/corporate/sustainability/governance/#a03)\n\n  \n102-26  |  Role of highest governance body in setting purpose, values, and strategy  | \n\n  * [ CEO Message ](/english/corporate/kddi/president/)\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Credo, The KDDI Group Mission Statement, The KDDI Group Philosophy, KDDI Code of Business Conduct ](/english/corporate/kddi/philosophy/)\n  * [ Corporate Governance Framework ](/english/corporate/sustainability/governance/#a03)\n\n  \n102-27  |  Collective knowledge of highest governance body  | \n\n  * [ CEO Message ](/english/corporate/kddi/president/)\n  * [ Credo, The KDDI Group Mission Statement, The KDDI Group Philosophy, KDDI Code of Business Conduct ](/english/corporate/kddi/philosophy/)\n\n  \n102-28  |  Evaluating the highest governance body's performance  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Evaluation of the Board of Directors' Effectiveness ](/english/corporate/sustainability/governance/#a06)\n\n  \n102-29  |  Identifying and managing economic, environmental, and social impacts  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Material Issues (Sustainability Management) ](/english/vision/sustainability-management/)\n  * [ Stakeholder Engagement ](/english/corporate/sustainability/engagement/)\n\n  \n102-30  |  Effectiveness of risk management processes  | \n\n  * [ Risk Management and Internal Controls ](/english/corporate/sustainability/risk-management/)\n\n  \n102-31  |  Review of economic, environmental, and social topics  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n102-32  |  Highest governance body's role in sustainability reporting  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n  * [ Corporate Governance Framework ](/english/corporate/sustainability/governance/#a03)\n\n  \n102-33  |  Communicating critical concerns  | \n\n  * [ Corporate Governance Framework ](/english/corporate/sustainability/governance/#a03)\n\n  \n102-34  |  Nature and total number of critical concerns  | \n\n  * [ Compliance ](/english/corporate/sustainability/compliance/)\n\n  \n102-35  |  Remuneration policies  | \n\n  * [ Executive Compensation ](/english/corporate/sustainability/governance/#a13)\n\n  \n102-36  |  Process for determining remuneration  | \n\n  * [ Executive Compensation ](/english/corporate/sustainability/governance/#a13)\n\n  \n102-37  |  Stakeholders' involvement in remuneration  | \n\n  * [ Evaluation of the Board of Directors' Effectiveness ](/english/corporate/sustainability/governance/#a06)\n\n  \n102-38  |  Annual total compensation ratio  | \n\n  * [ President and Representative Director remuneration/average KDDI employee annual salary ](/english/corporate/sustainability/report/esg-data/governance/)\n\n  \n102-39  |  Percentage increase in annual total compensation ratio  |  \\-   \n5\\. Stakeholder Engagement  \n102-40  |  List of stakeholder groups  | \n\n  * [ Stakeholder Engagement ](/english/corporate/sustainability/engagement/)\n\n  \n102-41  |  Collective bargaining agreements  | \n\n  * [ Creating Sound Labor-Management Relations ](/english/corporate/sustainability/employee/relations/)\n\n  \n102-42  |  Identifying and selecting stakeholders  | \n\n  * [ Stakeholder Engagement ](/english/corporate/sustainability/engagement/)\n\n  \n102-43  |  Approach to stakeholder engagement  | \n\n  * [ Stakeholder Engagement ](/english/corporate/sustainability/engagement/)\n\n  \n102-44  |  Key topics and concerns raised  | \n\n  * [ Material Issues (Sustainability Management) ](/english/vision/sustainability-management/)\n  * [ Stakeholder Engagement ](/english/corporate/sustainability/engagement/)\n\n  \n6\\. Reporting Practice  \n102-45  |  Entities included in the consolidated financial statements  | \n\n  * [ Corporate Profile ](/english/corporate/kddi/profile/)\n\n  \n102-46  |  Defining report content and topic boundaries  | \n\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\n  \n102-47  |  List of material topics  | \n\n  * [ Material Issues (Sustainability Management) ](/english/vision/sustainability-management/)\n\n  \n102-48  |  Restatements of information  |  N/A   \n102-49  |  Changes in reporting  |  N/A   \n102-50  |  Reporting period  | \n\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\n  \n102-51  |  Date of most recent report  | \n\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\n  \n102-52  |  Reporting cycle  | \n\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\n  \n102-53  |  Contact point for questions regarding the report  | \n\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\n  \n102-54  |  Claims of reporting in accordance with the GRI Standards  | \n\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\n  \n102-55  |  GRI content index  |  This page   \n102-56  |  External Assurance  | \n\n  * [ Third-party Assurance ](/english/corporate/sustainability/report/esg-data/assurance/)\n\n  \n  \n###  GRI 103: Management Approach\n\nItem  |  Reference Page   \n---|---  \nGRI 103: Management Approach  \n103-1  |  Explanation of the material topic and its boundary  | \n\n  * [ Material Issues (Sustainability Management) ](/english/vision/sustainability-management/)\n\n  \n103-2  |  The management approach and its components  | \n\n  * [ Corporate Governance Framework ](/english/corporate/sustainability/governance/#a03)\n  * [ Risk Management and Internal Controls ](/english/corporate/sustainability/risk-management/)\n  * [ Compliance ](/english/corporate/sustainability/compliance/)\n  * [ Safer and More Resilient Connected World ](/english/corporate/sustainability/network/)\n  * [ Cyber Security and Privacy Protection ](/english/corporate/sustainability/security/)\n  * [ Innovation Management ](/english/corporate/sustainability/innovation/)\n  * [ Human Resources ](/english/corporate/sustainability/employee/)\n  * [ Respect for Human Rights ](/english/corporate/sustainability/human-rights/)\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n  * [ Environment ](/english/corporate/sustainability/efforts-environment/)\n\n  \n103-3  |  Evaluation of the management approach  | \n\n  * [ Sustainability Promotion Framework ](/english/corporate/sustainability/management/)\n\n  \n  \n###  200 Series (Economic)\n\nItem  |  Reference Page   \n---|---  \nGRI 201: Economic Performance  \n201-1  |  Direct economic value generated and distributed  | \n\n  * [ Financial Data ](/english/corporate/ir/finance/)\n  * [ Human Resources Data ](/english/corporate/sustainability/report/esg-data/society/)\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n  * [ Community Involvement and Development ](/english/corporate/sustainability/contribution/)\n\n  \n201-2  |  Financial implications and other risks and opportunities due to climate change  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n201-3  |  Defined benefit plan obligations and other retirement plans  | \n\n  * [ Pension System ](/english/corporate/sustainability/employee/relations/)\n\n  \n201-4  |  Financial assistance received from government  |  N/A   \nGRI 202: Market Presence  \n202-1  |  Ratios of standard entry level wage by gender compared to local minimum wage  | \n\n  * [ Starting Salary for University Graduates Compared to Minimum Wage ](/english/corporate/sustainability/employee/labor/)\n\n  \n202-2  |  Proportion of senior management hired from the local community  | \n\n  * [ Human Resources Data ](/english/corporate/sustainability/report/esg-data/society/)\n\n  \nGRI 203: Indirect Economic Impacts  \n203-1  |  Infrastructure investments and services supported  | \n\n  * [ Disaster Preparedness ](/english/corporate/sustainability/network/01/)\n\n  \n203-2  |  Significant indirect economic impacts  |  N/A   \nGRI 204: Procurement Practices  \n204-1  |  Proportion of spending on local suppliers  |  \\-   \nGRI 207: Anti-corruption  \n205-1  |  Operations assessed for risks related to corruption  | \n\n  * [ Compliance ](/english/corporate/sustainability/compliance/)\n\n  \n205-2  |  Communication and training about anti-corruption policies and procedures  | \n\n  * [ Compliance ](/english/corporate/sustainability/compliance/)\n\n  \n205-3  |  Confirmed incidents of corruption and actions taken  | \n\n  * [ Compliance ](/english/corporate/sustainability/compliance/)\n\n  \nGRI 206: Anti-competitive Behavior  \n206-1  |  Legal actions for anti-competitive behavior, anti-trust, and monopoly practices  | \n\n  * [ Preventing Anti-competitive Behaviors ](/english/corporate/sustainability/compliance/)\n\n  \nGRI 207: Tax  \n207-1  |  Approach to tax  | \n\n  * [ Responsible Tax Practice ](/english/corporate/sustainability/compliance/)\n\n  \n207-2  |  Tax governance, control, and risk management  | \n\n  * [ Responsible Tax Practice ](/english/corporate/sustainability/compliance/)\n\n  \n207-3  |  Stakeholder engagement and management of concerns related to tax  | \n\n  * [ Responsible Tax Practice ](/english/corporate/sustainability/compliance/)\n\n  \n207-4  |  Country-by-country reporting  |  \\-   \n  \n###  300 Series (Environmental)\n\nItem  |  Reference Page   \n---|---  \nGRI 301: Materials 2016  \n301-1  |  Materials used by weight or volume  |  \\-   \n301-2  |  Recycled input materials used  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n|  | \n\n  * [ Circular Economy ](/english/corporate/sustainability/efforts-environment/recycling/)\n\n  \n301-3  |  Reclaimed products and their packaging materials  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n|  | \n\n  * [ Circular Economy ](/english/corporate/sustainability/efforts-environment/recycling/)\n\n  \nGRI 302: Energy 2016  \n302-1  |  Energy consumption within the organization  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n302-2  |  Energy consumption outside of the organization  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n302-3  |  Energy intensity  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n302-4  |  Reduction of energy consumption  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n302-5  |  Reductions in energy requirements of products and services  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \nGRI 303: Water and Effluents 2018  \n303-1  |  Interactions with water as a shared resource  |  \\-   \n303-2  |  Management of water discharge-related impacts  |  \\-   \n303-3  |  Water withdrawal  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n303-4  |  Water discharge  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n303-5  |  Water consumption  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \nGRI 304: Biodiversity 2016  \n304-1  |  Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas  |  N/A   \n304-2  |  Significant impacts of activities, products, and services on biodiversity  |  N/A   \n304-3  |  Habitats protected or restored  | \n\n  * [ Biodiversity ](/english/corporate/sustainability/efforts-environment/biodiversity/)\n\n  \n304-4  |  IUCN Red List species and national conservation list species with habitats in areas affected by operations  |  N/A   \nGRI 305: Emissions 2016  \n305-1  |  Direct (Scope 1) GHG emissions  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n305-2  |  Energy indirect (Scope 2) GHG emissions  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n305-3  |  Other indirect (Scope 3) GHG emissions (Scope 3)  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n305-4  |  GHG emissions intensity  |  \\-   \n305-5  |  Reduction of GHG emissions  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n305-6  |  Emissions of ozone-depleting substances (ODS)  |  \\-   \n305-7  |  Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions  |  \\-   \nGRI 306: Effluents and Waste 2016  \n306-1  |  Water discharge by quality and destination  |  \\-   \n306-2  |  Waste by type and disposal method  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \n306-3  |  Significant spills  |  N/A   \n306-4  |  Transport of hazardous waste  | \n\n  * [ Appropriate Processing of PCB-Containing Equipment ](/english/corporate/sustainability/efforts-environment/management/)\n\n  \n306-5  |  Water bodies affected by water discharges and/or runoff  |  \\-   \nGRI 307: Environmental Compliance 2016  \n307-1  |  Non-compliance with environmental laws and regulations  | \n\n  * [ Compliance with Environmental Laws and Regulations (No violations) ](/english/corporate/sustainability/efforts-environment/management/)\n\n  \nGRI 308: Supplier Environmental Assessment 2016  \n308-1  |  New suppliers that were screened using environmental criteria  |  \\-   \n308-2  |  Negative environmental impacts in the supply chain and actions taken  | \n\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n\n  \n  \n###  400 Series (Social)\n\nItem  |  Reference Page   \n---|---  \nGRI 401: Employment 2016  \n401-1  |  New employee hires and employee turnover  | \n\n  * [ Human Resources Data ](/english/corporate/sustainability/report/esg-data/society/)\n\n  \n401-2  |  Benefits provided to full-time employees that are not provided to temporary or part-time employees  | \n\n  * [ Pension System, Wellness Benefits ](/english/corporate/sustainability/employee/relations/)\n\n  \n401-3  |  Parental leave  | \n\n  * [ Diverse Work Styles ](/english/corporate/sustainability/employee/work-styles/)\n\n  \nGRI 402: Labor/Management Relations 2016  \n402-1  |  Minimum notice periods regarding operational changes  | \n\n  * [ Creating Sound Labor-Management Relations ](/english/corporate/sustainability/employee/relations/)\n\n  \nGRI 403: Occupational Health and Safety 2018  \n403-1  |  Occupational health and safety management system  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-2  |  Hazard identification, risk assessment, and incident investigation  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-3  |  Occupational health services  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-4  |  Worker participation, consultation, and communication on occupational health and safety  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-5  |  Worker training on occupational health and safety  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-6  |  Promotion of worker health  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-7  |  Prevention and mitigation of occupational health and safety impacts directly linked by business relationships  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-8  |  Workers covered by an occupational health and safety management system  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-9  |  Work-related injuries  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \n403-10  |  Work-related ill health  | \n\n  * [ Promotion of Occupational Safety and Health ](/english/corporate/sustainability/employee/safety/)\n\n  \nGRI 404: Training and Education 2016  \n404-1  |  Average hours of training per year per employee  | \n\n  * [ Human Resources Data ](/english/corporate/sustainability/report/esg-data/society/)\n\n  \n404-2  |  Programs for upgrading employee skills and transition assistance programs  | \n\n  * [ Human Resources ](/english/corporate/sustainability/employee/)\n  * [ Promotion of Women's Participation and Advancement in the Workplace ](/english/corporate/sustainability/employee/woman/)\n  * [ DE&I (Diversity, Equity and Inclusion) ](/english/corporate/sustainability/diversity/)\n\n  \n404-3  |  Percentage of employees receiving regular performance and career development revie  | \n\n  * [ Evaluation and Remuneration Systems ](/english/corporate/sustainability/employee/)\n\n  \nGRI 405: Diversity and Equal Opportunity 2016  \n405-1  |  Diversity of governance bodies and employees  | \n\n  * [ Human Resources Data ](/english/corporate/sustainability/report/esg-data/society/)\n  * [ Executive Members ](/english/corporate/ir/governance/board/)\n\n  \n405-2  |  Ratio of basic salary and remuneration of women to men  |  \\-   \nGRI 406: Non-discrimination 2016  \n406-1  |  Incidents of discrimination and corrective actions taken  | \n\n  * [ Respect for Human Rights ](/english/corporate/sustainability/human-rights/)\n\n  \nGRI 407: Freedom of Association and Collective Bargaining 2016  \n407-1  |  Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk  | \n\n  * [ Creating Sound Labor-Management Relations ](/english/corporate/sustainability/employee/relations/)\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n  * [ Sustainable Procurement Activity Results (FY 2023) ](/english/corporate/sustainability/supply-chain/01/)\n\n  \nGRI 408: Child Labor 2016  \n408-1  |  Operations and suppliers at significant risk for incidents of child labor  | \n\n  * [ Sustainable Procurement Activity Results (FY 2023) ](/english/corporate/sustainability/supply-chain/01/)\n\n  \nGRI 409: Forced or Compulsory Labor 2016  \n409-1  |  Operations and suppliers at significant risk for incidents of forced or compulsory labor  | \n\n  * [ Sustainable Procurement Activity Results (FY 2023) ](/english/corporate/sustainability/supply-chain/01/)\n\n  \nGRI 410: Security Practices 2016  \n410-1  |  Security personnel trained in human rights policies or procedures  |  \\-   \nGRI 411: Rights of Indigenous Peoples 2016  \n411-1  |  Incidents of violations involving rights of indigenous peoples  |  N/A   \nGRI 412: Human Rights Assessment 2016  \n412-1  |  Operations that have been subject to human rights reviews or impact assessments  | \n\n  * [ Respect for Human Rights ](/english/corporate/sustainability/human-rights/)\n\n  \n412-2  |  Employee training on human rights policies or procedures  | \n\n  * [ Respect for Human Rights ](/english/corporate/sustainability/human-rights/)\n\n  \n412-3  |  Significant investment agreements and contracts that include human rights clauses or that underwent human rights screening  |  N/A   \nGRI 413: Local Communities 2016  \n413-1  |  Operations with local community engagement, impact assessments, and development programs  | \n\n  * [ Community Involvement and Development ](/english/corporate/sustainability/contribution/)\n\n  \n413-2  |  Operations with significant actual and potential negative impacts on local communities  |  N/A   \nGRI 414: Supplier Social Assessment 2016  \n414-1  |  New suppliers that were screened using social criteria  | \n\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n  * [ Sustainable Procurement Activity Results (FY 2023) ](/english/corporate/sustainability/supply-chain/01/)\n\n  \n414-2  |  Negative social impacts in the supply chain and actions taken  | \n\n  * [ Supply Chain Management ](/english/corporate/sustainability/supply-chain/)\n  * [ Sustainable Procurement Activity Results (FY 2023) ](/english/corporate/sustainability/supply-chain/01/)\n\n  \nGRI 415: Public Policy 2016  \n415-1  |  Political contributions  | \n\n  * [ Political Contributions ](/english/corporate/sustainability/compliance/)\n\n  \nGRI 416: Customer Health and Safety 2016  \n416-1  |  Assessment of the health and safety impacts of product and service categories  | \n\n  * [ Responsibility for Products and Services ](/english/corporate/sustainability/products/)\n\n  \n416-2  |  Incidents of non-compliance concerning the health and safety impacts of products and services  |  N/A   \nGRI 417: Marketing and Labeling 2016  \n417-1  |  Requirements for product and service information and labeling  | \n\n  * [ Responsibility for Products and Services ](/english/corporate/sustainability/products/)\n  * [ Environmental Eco Label ](/english/corporate/sustainability/efforts-environment/carbon/)\n\n  \n417-2  |  Incidents of non-compliance concerning product and service information and labeling  |  N/A   \n417-3  |  Incidents of non-compliance concerning marketing communications  | \n\n  * [ Brand Management ](/english/corporate/sustainability/brand/)\n\n  \nGRI 418: Customer Privacy 2016  \n418-1  |  Substantiated complaints concerning breaches of customer privacy and losses of customer data  | \n\n  * [ Number of Serious Information Security Incidents ](/english/corporate/sustainability/security/)\n\n  \nGRI 419: Socioeconomic Compliance 2016  \n419-1  |  Non-compliance with laws and regulations in the social and economic area  |  N/A   \n  \n##  Sustainability Accounting Standards Board (SASB) Comparative Table\n\nKDDI references the sustainability account standards for telecommunication\nservices industry designated by Sustainability Accounting Standards Board\n(SASB).\n\nTopic  |  SASB Code  |  Accounting Metric  |  Destination of Disclosure/Other   \n---|---|---|---  \nEnvironmental Footprint of Operations  |  TC-TL-130a.1  |  (1) Total energy consumed   \n(2) Percentage grid electricity  \n(3) Percentage renewable  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \nData Privacy  |  TC-TL-220a.1  |  Description of policies and practices relating to behavioral advertising and customer privacy  | \n\n  * [ Cyber Security and Privacy Protection ](/english/corporate/sustainability/security/)\n  * [ Privacy Policy ](/english/corporate/kddi/public/privacy/)\n\n  \nTC-TL-220a.2  |  Percentage of customers whose information is used for secondary purposes  |  100%   \nPurpose: [ Privacy Portal ](/english/corporate/kddi/public/privacy-portal/)  \nTC-TL-220a.3  |  Total amount of monetary losses as a result of legal proceedings associated with customer privacy  |  Not disclosed   \nTC-TL-220a.4  |  (1) Number of law enforcement requests for customer information   \n(2) Number of customers whose information was requested  \n(3) Percentage resulting in disclosure  |  Not disclosed   \nData Security  |  TC-TL-230a.1  |  (1) Number of data breaches   \n(2) Percentage involving personally identifiable information (PII)  \n(3) Number of customers affected  | \n\n  * [ (1) Number of Serious Information Security Incidents ](/english/corporate/sustainability/security/)\n\n(2) and (3) are not disclosed  \nTC-TL-230a.2  |  Description of approach to identifying and addressing data security risks, including use of third-party cybersecurity standards  | \n\n  * [ Cyber Security and Privacy Protection ](/english/corporate/sustainability/security/)\n  * [ Innovation Management ](/english/corporate/sustainability/innovation/)\n  * [ Risk Management ](/english/corporate/sustainability/risk-management/)\n  * [ Participation in External Initiatives ](/english/corporate/sustainability/contribution/)\n\n  \nProduct End-of-life Management  |  TC-TL-440a.1  |  (1) Materials recovered through take back programs, percent age of recovered materials that were   \n(2) reused, (3) recycled, and (4) landfilled  | \n\n  * [ (1) Circular Economy ](/english/corporate/sustainability/efforts-environment/recycling/)\n\n(2) through (4) are not disclosed  \nCompetitive Behavior & Open Internet  |  TC-TL-520a.1  |  Total amount of monetary losses as a result of legal proceed ings associated with anticompetitive behavior  |  Not disclosed   \nTC-TL-520a.2  |  Average actual sustained download speed of   \n(1) owned and commercially-associated content  \nand  \n(2) non-associated content  | \n\n  * [ Definition of measured value of actual operating speed (in Japanese only) ](https://www.au.com/mobile/area/effective-speed/)\n\n  \nTC-TL-520a.3  |  Description of risks and opportunities associated with net neu trality, paid peering, zero rating, and related practices  | \n\n  * [ Risk Management ](/english/corporate/sustainability/risk-management/)\n  * [ Cyber Security and Privacy Protection ](/english/corporate/sustainability/security/)\n  * [ Safer and More Resilient Connected World ](/english/corporate/sustainability/network/)\n  * [ Innovation Management ](/english/corporate/sustainability/innovation/)\n  * [ Respect for Human Rights ](/english/corporate/sustainability/human-rights/)\n\n  \nManaging Systemic Risks  |  TC-TL-550a.1  |  (1) System average interruption frequency   \nand  \n(2) customer average interruption duration  | \n\n  * [ Frequency and Duration of Network Interruption ](/english/corporate/sustainability/network/)\n\n  \nTechnology Disruptions  |  TC-TL-550a.2  |  Discussion of systems to provide unimpeded service during ser vice interruptions  | \n\n  * [ Network Quality Management and Improvement ](/english/corporate/sustainability/network/)\n  * [ Disaster Preparedness ](/english/corporate/sustainability/network/01/)\n\n  \n  \n##  Task Force on Climate-related Financial Disclosures (TCFD) Comparative\nTable\n\nKDDI references the disclosure items recommended by the Task Force on Climate-\nrelated Financial Disclosures (TCFD).\n\n###  Governance\n\nRecommended Disclosures  |  Reference Page   \n---|---  \na. Describe the board's oversight of climate-related risks and opportunities.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \nb. Describe management's role in assessing and managing climate-related risks and opportunities.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n  \n###  Strategy\n\nRecommended Disclosures  |  Reference Page   \n---|---  \na. Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \nb. Describe the impact of climate-related risks and opportunities on the organization's businesses, strategy, and financial planning.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \nc. Describe the resilience of the organization's strategy, taking into consideration different climate-related scenarios, including a 2\u00b0C or lower scenario.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n  \n###  Risk Management\n\nRecommended Disclosures  |  Reference Page   \n---|---  \na. Describe the organization's processes for identifying and assessing climate-related risks.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \nb. Describe the organization's processes for managing climate-related risks.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \nc. Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization's overall risk management.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n  \n###  Metrics & Targets\n\nRecommended Disclosures  |  Reference Page   \n---|---  \na. Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \nb. Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas (GHG) emissions and the related risks.  | \n\n  * [ Environmental Data ](/english/corporate/sustainability/report/esg-data/environment/)\n\n  \nc. Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets.  | \n\n  * [ Responses to the TCFD Recommendations ](/english/corporate/sustainability/efforts-environment/tcfd/)\n\n  \n  \n[ KDDI's Commitment to Sustainability\n](/english/corporate/sustainability/management/)\n\n    \n\n  * [ KDDI's Value Creation ](/english/corporate/sustainability/management/value/)\n  * [ Comparative Table with Guidelines ](/english/corporate/sustainability/report/guideline/)\n  * [ Disclosure Policy ](/english/corporate/sustainability/disclosurepolicy/)\n\nRecommended Contents\n\n    \n\n  * [ News Releases  ](/english/corporate/newsrelease/)\n\n  * [ Technology  ](/english/corporate/r-and-d/)\n\n  * \n\n  * Related Page 1 \n  * Related Page 2 \n\n  *   * \n\n",
                "url": "https://www.kddi.com/english/corporate/sustainability/report/guideline/"
            },
            "reason": "This is KDDI's sustainability report guideline page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain. It's a direct source from the company.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "This is KDDI's sustainability report guideline page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain.",
            "url": "https://www.kddi.com/english/corporate/sustainability/report/guideline/"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "7fe6dc89-b927-489f-af6b-a4b73ed28a5f",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://corpgov.law.harvard.edu/2022/12/08/human-rights-related-shareholder-proposals-in-the-2022-u-s-proxy-season/"
                },
                "page_content": "Harvard Law School Forum on Corporate Governance\n\n  * [ Home ](https://corpgov.law.harvard.edu/)\n  * [ About ](https://corpgov.law.harvard.edu/about/)\n  * [ Archive ](https://corpgov.law.harvard.edu/archive/)\n  * [ Categories ](https://corpgov.law.harvard.edu/categories/)\n  * [ Hiring ](https://corpgov.law.harvard.edu/tag/hiring/)\n  * [ Blogroll ](https://corpgov.law.harvard.edu/blogroll/)\n\n#  Human Rights-Related Shareholder Proposals in the 2022 U.S. Proxy Season\n\n_\n\nPosted by Subodh Mishra, Institutional Shareholder Services, Inc. , on\n\nThursday, December 8, 2022\n\n_ Comments Off  on Human Rights-Related Shareholder Proposals in the 2022 U.S.\nProxy Season  [ Print ](javascript:window.print\\(\\)) [ E-Mail ](/cdn-\ncgi/l/email-\nprotection#d4eba7a1b6beb1b7a0e99c9887f492bba6a1b9eef49ca1b9b5baf486bdb3bca0a7f986b1b8b5a0b1b0f487bcb5a6b1bcbbb8b0b1a6f484a6bba4bba7b5b8a7f4bdbaf4a0bcb1f4e6e4e6e6f481fa87faf484a6bbacadf487b1b5a7bbbaf2b6bbb0ade9bca0a0a4a7eefbfbb7bba6a4b3bba2fab8b5a3fabcb5a6a2b5a6b0fab1b0a1fbe6e4e6e6fbe5e6fbe4ecfbbca1b9b5baf9a6bdb3bca0a7f9a6b1b8b5a0b1b0f9a7bcb5a6b1bcbbb8b0b1a6f9a4a6bba4bba7b5b8a7f9bdbaf9a0bcb1f9e6e4e6e6f9a1f9a7f9a4a6bbacadf9a7b1b5a7bbbafb)\n[ Tweet ](https://twitter.com/share)\n\n[ Corporate purpose ](https://corpgov.law.harvard.edu/tag/corporate-purpose/)\n,  [ Corporate Social Responsibility\n](https://corpgov.law.harvard.edu/tag/corporate-social-responsibility/) ,  [\nESG ](https://corpgov.law.harvard.edu/tag/esg/) ,  [ Esg governance\n](https://corpgov.law.harvard.edu/tag/esg-governance/) ,  [ EU\n](https://corpgov.law.harvard.edu/tag/eu/) ,  [ Human rights\n](https://corpgov.law.harvard.edu/tag/human-rights/)  \n**More from:** [ Subodh Mishra\n](https://corpgov.law.harvard.edu/contributor/subodh-mishra/) , [\nInstitutional Shareholder Services Inc.\n](https://corpgov.law.harvard.edu/lawfirm/institutional-shareholder-services-\ninc/)\n\nSubodh Mishra is Global Head of Communications at Institutional Shareholder\nServices. This post is based on an ISS Governance memorandum by Joseph Hong,\nSpecialty Research Associate. Related research from the Program on Corporate\nGovernance includes [ The Illusory Promise of Stakeholder Governance\n](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3544978) (discussed on\nthe Forum [ here ](https://corpgov.law.harvard.edu/2020/03/02/the-illusory-\npromise-of-stakeholder-governance/) ) and [ Will Corporations Deliver Value to\nAll Stakeholders?\n](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3899421) (discussed on\nthe Forum [ here ](https://corpgov.law.harvard.edu/2022/05/23/will-\ncorporations-deliver-value-to-all-stakeholders/) ) both by Lucian A. Bebchuk\nand Roberto Tallarita; [ Restoration: The Role Stakeholder Governance Must\nPlay in Recreating a Fair and Sustainable American Economy\u2014A Reply to\nProfessor Rock ](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3749654)\n(discussed on the Forum [ here\n](https://corpgov.law.harvard.edu/2021/01/07/restoration-the-role-stakeholder-\ngovernance-must-play-in-recreating-a-fair-and-sustainable-american-economy-a-\nreply-to-professor-rock/) ) by Leo E. Strine, Jr.; [ Stakeholder Capitalism in\nthe Time of COVID\n](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4026803) (discussed on\nthe Forum [ here ](https://corpgov.law.harvard.edu/2022/02/22/stakeholder-\ncapitalism-in-the-time-of-covid/) ) by Lucian Bebchuk, Kobi Kastiel, and\nRoberto Tallarita; and [ Corporate Purpose and Corporate Competition\n](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3817788) (discussed on\nthe Forum [ here ](https://corpgov.law.harvard.edu/2021/05/24/corporate-\npurpose-and-corporate-competition/) ) by Mark J. Roe.\n\nThe topic of human rights is of major concern among many stakeholder groups,\nspanning the public, private, and social sectors (e.g., companies, investors,\nconsumers, NGOs, governments, intergovernmental organizations, etc.). Human\nrights issues present material risks to not only companies, but also to\ninstitutional investors, as reputational as well as regulatory and litigation\nrisks, can impact both companies and their investors. Reputational costs\nstemming from, say, damaging viral news stories could negatively impact\nconsumer loyalty, brand perception, and ultimately share price. As many\ninstitutional investors engage with companies to increase alignment on ESG\nperformance and reporting, the \u2018S\u2019 in ESG (Environmental, Social, and\nGovernance) has come under increasing [ scrutiny\n](https://corpgov.law.harvard.edu/2020/06/28/time-to-rethink-the-s-in-esg/) in\nrecent years.\n\nAdditionally, there have been significant legal and regulatory developments\nregarding human rights-related issues, such as the recent [ enforcement\n](https://news.bloomberglaw.com/esg/china-forced-labor-law-prompts-sweeping-\nsupply-chain-reviews) of the Uyghur Forced Labor Prevention Act (UFLPA) which\ncame into effect in June 2022 and the [ EU\u2019s September 2022 proposed ban\n](https://www.whitecase.com/insight-alert/european-commission-proposes-ban-\ngoods-made-forced-labour) on goods made with forced labor \u2013 and accompanying\nsocial compliance-related reassessments of supply chain human rights due\ndiligence (mostly limited to tier 1 finished goods facilities), upstream\nmaterials traceability protocols (e.g., cotton and polysilicon), and\nassociated reporting and disclosure requirements. As such, due also in part to\nNGO engagement and consumer segment expectations, best practices have emerged\namong corporate leaders with regards to transparent and comprehensive end-to-\nend supply chain disclosures.\n\nHuman rights-related risks, however, have not correlated with significant\nmajority support for human rights-related shareholder proposals. In 2022, the\nonly human rights-related shareholder proposal to receive majority support was\nfor the firearms manufacturer Sturm, Ruger & Company, Inc. (RGR) \u2013 this might\nhave corresponded closely with the societal response to the recent torrent of\nmass shootings in America. The Ruger proposal received 69 percent support,\nwhich was an outlier in the data set.\n\nDuring the 2022 U.S. proxy season, there were 26 human rights-related\nshareholder proposals on ballot (around 9 percent of total shareholder\nproposals on ballot), which garnered an average of 25 percent of shareholder\nsupport.\n\nSource: ISS Governance Research & Voting\n\nWhile the number of human rights-related shareholder proposals on ballot have\nvaried over the years, the mean level of support for these proposals has\nremained more-or-less constant.\n\nSource: ISS Governance Research & Voting\n\nThe median level of support for human rights-related shareholder proposals on\nballot has also not varied significantly year-over-year.\n\nSource: ISS Governance Research & Voting\n\nThe numbers of human rights-related shareholder proposals by sector since 2019\nare shown above. The consumer discretionary and I/T sectors in particular have\nfaced increased scrutiny with regards to responsible sourcing standards in\nsupply chains, due in part to significant controversies driven by media\nreporting and NGO attention.\n\nMany of the human rights-related shareholder proposals over the period have\nfocused on increased disclosure regarding supply chain human rights due\ndiligence, or on whether company leadership is effectively managing forced\nlabor and child labor sourcing risks, and business operations and end-use due\ndiligence in high-risk regions. Other proposal topics have included customer\nand end-use due diligence (e.g., privacy and law enforcement), domestic labor\nrights, and other issues. See table below for a list of targeted companies,\nsector, proposal type, main filer and vote support level.\n\nThe wider picture is that the average vote of support for human rights-related\nproposals has held approximately at 26 percent per season over recent years.\nWith 26 human rights-related proposals, the 2022 proxy season had the most\nhuman rights-related proposals in recent years, up from 15 in 2021, 17 in\n2020, and 24 in 2019.\n\n**2022 U.S. Proxy Season Human Rights-Related Proposals (by AGM DATE)**\n\n**Company** |  **Sector** |  **Proposal Topic** |  **Main Filer** |  **Support Level (%)**  \n---|---|---|---|---  \nApple Inc. (AAPL)  |  I/T  |  Forced Labor ( [ Item 7 ](https://www.sec.gov/Archives/edgar/data/320193/000119312522003583/d222670ddef14a.htm#tx222670_36b) )  |  Jane M. Saks et al  |  33.70%   \nThe Walt Disney Company (DIS)  |  Communications Services  |  Human Rights Due Diligence ( [ Item 6 ](https://www.sec.gov/Archives/edgar/data/1744489/000119312522012592/d249883ddef14a.htm#toc249883_38) )  |  National Legal and Policy Center  |  36.80%   \nLockheed Martin Corporation (LMT)  |  Industrials  |  Human Rights Impact Assessment \u2013 End Use ( [ Item 5 ](https://www.sec.gov/Archives/edgar/data/936468/000093646822000033/lockheedmartin2022proxy.htm#i76545e592cf74d61b4b080da9d52b1f1_193) )  |  Sisters of Charity of St. Elizabeth et al  |  20.20%   \nCitigroup Inc. (C)  |  Financial Services  |  Human Rights Due Diligence \u2013 Indigenous People ( [ Item 7 ](https://www.sec.gov/Archives/edgar/data/0000831001/000120677422000697/citi3969751-def14a.htm#stockholderproposals) )  |  Sisters of St. Joseph, Brentwood  |  34.00%   \nWells Fargo & Company (WFC)  |  Financial Services  |  Human Rights Due Diligence \u2013 Indigenous People ( [ Item 8 ](https://www.sec.gov/Archives/edgar/data/72971/000119312522074612/d304150ddef14a.htm#toc360404_53) )  |  American Baptist Home Mission Societies  |  25.91%   \nGeneral Dynamics Corporation (GD)  |  Industrials  |  Human Rights Impact Assessment \u2013 End Use ( [ Item 5 ](https://www.sec.gov/Archives/edgar/data/72971/000119312522074612/d304150ddef14a.htm#toc360404_53) )  |  Franciscan Sisters of Allegany, NY  |  25.24%   \n3M Company (MMM)  |  Industrials  |  Business in \u201cCommunist China\u201d ( [ Item 5 ](https://www.sec.gov/Archives/edgar/data/0000066740/000120677422000811/mmm3983801-def14a.htm#d398380a077) )  |  Steven Milloy  |  3.30%   \nFirstEnergy Corp. (FE)  |  Utilities  |  Child Labor ( [ Item 4 ](https://www.sec.gov/Archives/edgar/data/1031296/000119312522082777/d156096ddef14a.htm#toc156096_5) )  |  Steven Milloy  |  2.90%   \nThe Hershey Company (HSY)  |  Consumer Discretionary  |  Child Labor ( [ Item 4 ](https://www.sec.gov/Archives/edgar/data/47111/000004711122000023/a2022proxystatement.htm#icdce78989cde48a3bb746cf783685e14_1443) )  |  American Baptist Home Mission Society  |  7.81%   \nAmazon.com, Inc. (AMZN)  |  Consumer Discretionary  |  Customer Due Diligence ( [ Item 6 ](https://www.sec.gov/Archives/edgar/data/1018724/000110465922045572/tm223357-5_def14a.htm#tSHPR) )  |  Sisters of St. Joseph, Brentwood  |  40.25%   \nAmazon.com, Inc. (AMZN)  |  Consumer Discretionary  |  Freedom of Association ( [ Item 13 ](https://www.sec.gov/Archives/edgar/data/1018724/000110465922045572/tm223357-5_def14a.htm#tSHPR) )  |  SHARE  |  38.91%   \nAmazon.com, Inc. (AMZN)  |  Consumer Discretionary  |  Human Rights Impact Assessment \u2013 End Use ( [ Item 19 ](https://www.sec.gov/Archives/edgar/data/1018724/000110465922045572/tm223357-5_def14a.htm#tSHPR) )  |  Harrington Investments  |  40.69%   \nChevron Corporation (CVX)  |  Energy  |  Human Rights Due Diligence ( [ Item 8 ](https://www.sec.gov/Archives/edgar/data/93410/000119312522098301/d292137ddef14a.htm#toc292137_65a) )  |  International Brotherhood of Teamsters  |  12.39%   \nMeta Platforms, Inc. (META)  |  Communications services  |  Human Rights Impact Assessment ( [ Item 10 ](https://www.sec.gov/Archives/edgar/data/0001326801/000132680122000043/meta2022definitiveproxysta.htm#i046933ef7c26477e9c8a108d937e294d_2748779070185) )  |  Mercy Investment Services  |  23.76%   \nLowes Companies, Inc. (LOW)  |  Consumer Discretionary  |  Independent Contractor Misclassification ( [ Item 9 ](https://www.sec.gov/Archives/edgar/data/60667/000119312522105006/d301898ddef14a.htm#toc301898_128) )  |  International Brotherhood of Teamsters  |  35.71%   \nAlphabet Inc. (GOOGL)  |  I/T  |  Human Rights Due Diligence ( [ Item 13 ](https://www.sec.gov/Archives/edgar/data/1652044/000130817922000262/lgoog2022_def14a.htm#lgooga062a) )  |  SumOfUs  |  16.99%   \nAlphabet Inc. (GOOGL)  |  I/T  |  Human Rights Impact Assessment ( [ Item 16 ](https://www.sec.gov/Archives/edgar/data/1652044/000130817922000262/lgoog2022_def14a.htm#lgooga062d) )  |  The Sustainability Group of Loring, Wolcott & Coolidge  |  23.00%   \nSturm, Ruger & Company, Inc. (RGR)  |  Consumer Discretionary  |  Human Rights Impact Assessment ( [ Item 4 ](https://www.sec.gov/Archives/edgar/data/95029/000117494722000537/rgrdef14aproxy.htm#d1e4077_anchor) )  |  CommonSpirit Health  |  68.52%   \nThe TJX Companies, Inc. (TJX)  |  Consumer Discretionary  |  Human Rights Due Diligence ( [ Item 5 ](https://www.sec.gov/Archives/edgar/data/109198/000010919822000024/a2022proxystatement.htm#ibd1d957d8d0d47d598341251f8d5d525_148) )  |  NorthStar Asset Management  |  24.60%   \nThe TJX Companies, Inc. (TJX)  |  Consumer Discretionary  |  Independent Contractor Misclassification ( [ Item 6 ](https://www.sec.gov/Archives/edgar/data/109198/000010919822000024/a2022proxystatement.htm#ibd1d957d8d0d47d598341251f8d5d525_1099511628903) )  |  International Brotherhood of Teamsters  |  31.80%   \nCaterpillar Inc. (CAT)  |  Industrials  |  Human Rights Due Diligence ( [ Item 6 ](https://www.sec.gov/Archives/edgar/data/18230/000130817922000290/lcat2022_def14a.htm#new_id-125) )  |  Wespath Benefits and Investments  |  10.60%   \nGeneral Motors Company (GM)  |  Industrials  |  Child Labor ( [ Item 6 ](https://www.sec.gov/Archives/edgar/data/1467858/000119312522131642/d215687ddef14a.htm#rom215687_42) )  |  National Legal and Policy Center  |  22.36%   \nThe Kroger Co. (KR)  |  Consumer Staples  |  Human Rights Due Diligence ( [ Item 6 ](https://www.sec.gov/Archives/edgar/data/56873/000110465922054782/tm2212949-2_defc14a.htm) )  |  Domini Impact Investments  |  20.85%   \nTesla, Inc. (TSLA)  |  Consumer Discretionary  |  Freedom of Association ( [ Item 11 ](https://www.sec.gov/Archives/edgar/data/1318605/000156459022024064/tsla-def14a_20220804.htm#PROPOSAL_ELEVEN) )  |  N/A  |  33.35%   \nTesla, Inc. (TSLA)  |  Consumer Discretionary  |  Child Labor ( [ Item 12 ](https://www.sec.gov/Archives/edgar/data/1318605/000156459022024064/tsla-def14a_20220804.htm#PROPOSAL_TWELVE) )  |  N/A  |  10.54%   \nNIKE, Inc. (NKE)  |  Consumer Discretionary  |  Forced Labor ( [ Item 5 ](https://www.sec.gov/Archives/edgar/data/320187/000032018722000041/nike2022proxy.htm#iff9e152abc7d431e964fb92719c62bdf_97) )  |  Domini Impact Equity Fund  |  6.35%   \n  \nSource: ISS Governance Research & Voting\n\n[ Corporate purpose ](https://corpgov.law.harvard.edu/tag/corporate-purpose/)\n,  [ Corporate Social Responsibility\n](https://corpgov.law.harvard.edu/tag/corporate-social-responsibility/) ,  [\nESG ](https://corpgov.law.harvard.edu/tag/esg/) ,  [ Esg governance\n](https://corpgov.law.harvard.edu/tag/esg-governance/) ,  [ EU\n](https://corpgov.law.harvard.edu/tag/eu/) ,  [ Human rights\n](https://corpgov.law.harvard.edu/tag/human-rights/)  \n**More from:** [ Subodh Mishra\n](https://corpgov.law.harvard.edu/contributor/subodh-mishra/) , [\nInstitutional Shareholder Services Inc.\n](https://corpgov.law.harvard.edu/lawfirm/institutional-shareholder-services-\ninc/)\n\n  * Supported By: \n\n  *   * ###  Subscribe or Follow \n\n[ ](http://app.feedblitz.com/f/?Sub=186216&cids=1)\n\n[ ](http://www.twitter.com/HarvardCorpGov)\n\n[ ](https://corpgov.law.harvard.edu/feed/)\n\n[ ](https://www.linkedin.com/company/harvard-law-school-forum-on-corporate-\ngovernance)\n\n[ ](https://www.facebook.com/HarvardCorpGov/)\n\n  * ###  Program on Corporate Governance Advisory Board \n\n    * William Ackman \n    * [ Peter Atkins ](https://www.skadden.com/professionals/a/atkins-peter-a)\n    * [ David Bell ](https://www.fenwick.com/professionals/pages/davidbell.aspx)\n    * [ Kerry E. 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Ferrari ](https://www.ropesgray.com/en/biographies/f/renata-j-ferrari)\n    *     * [ John Finley ](https://www.blackstone.com/people/john-finley/)\n    *     * [ Andrew Freedman ](https://www.olshanlaw.com/people/Andrew-Freedman)\n    * [ Ray Garcia ](https://www.pwc.com/us/en/services/governance-insights-center/meet-the-team.html)\n    * [ Byron Georgiou ](https://www.georgiouenterprises.com/biography)\n    * [ Joseph Hall ](https://www.davispolk.com/professionals/joseph-hall/)\n    * [ Jason M. Halper ](https://www.velaw.com/people/jason-halper/)\n    * [ Paul Hilal ](https://www.mantleridge.com/about/#about-paul-hilal)\n    * [ Carl Icahn ](http://www.shareholderssquaretable.com/)\n[ William P. Mills ](https://www.cadwalader.com/professionals/william-mills)\n\n    * [ David Millstone ](https://www.standardindustries.com/our-team/)\n    * [ Theodore Mirvis ](https://www.wlrk.com/attorney/tnmirvis/)\n    *     * [ Philip Richter ](https://www.friedfrank.com/index.cfm?pageID=42&itemID=527)\n    * [ Elina Tetelbaum ](https://www.wlrk.com/attorney/etetelbaum/)\n    * [ Sebastian Tiller ](https://www.velaw.com/people/sebastian-tiller/)\n    * [ Marc Trevino ](https://www.sullcrom.com/Lawyers/Marc-Trevino)\n[ Jonathan Watkins ](https://www.cadwalader.com/professionals/jonathan-\nwatkins)\n\n    * [ Steven J. Williams ](https://www.paulweiss.com/professionals/partners-and-counsel/steven-j-williams)\n    * [ Daniel Wolf ](http://www.kirkland.com/sitecontent.cfm?contentID=220&itemID=9713)\n\n  * ###  HLS Faculty & Senior Fellows \n\n    * [ Lucian Bebchuk ](http://www.law.harvard.edu/faculty/bebchuk/)\n    * [ Robert Clark ](https://hls.harvard.edu/faculty/directory/10165/Clark)\n    * [ John Coates ](https://hls.harvard.edu/faculty/directory/10170/Coates)\n    * [ Alma Cohen ](http://www.law.harvard.edu/programs/corp_gov/cohen.shtml)\n    * [ Stephen M. Davis ](https://pcg.law.harvard.edu/stephen-m-davis/)\n    * [ Allen Ferrell ](http://www.law.harvard.edu/faculty/fferrell/)\n    * [ Jesse Fried ](https://hls.harvard.edu/faculty/directory/10289/Fried)\n    * [ Oliver Hart ](http://scholar.harvard.edu/hart/home)\n    * [ Howell Jackson ](https://hls.harvard.edu/faculty/howell-e-jackson/)\n    * [ Kobi Kastiel ](https://en-law.tau.ac.il/profile/kastiel)\n    * [ Reinier Kraakman ](https://hls.harvard.edu/faculty/directory/10490/Kraakman)\n    * [ Mark Ramseyer ](https://hls.harvard.edu/faculty/directory/10697/Ramseyer)\n    * [ Mark Roe ](https://hls.harvard.edu/faculty/directory/10725/Roe)\n    * [ Robert Sitkoff ](https://hls.harvard.edu/faculty/directory/10813/Sitkoff)\n    * [ Holger Spamann ](https://hls.harvard.edu/faculty/directory/10831/Spamann)\n    * [ Leo E. 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                "url": "https://corpgov.law.harvard.edu/2022/12/08/human-rights-related-shareholder-proposals-in-the-2022-u-s-proxy-season/"
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            "summary": "This page from Harvard Law School's Corporate Governance Forum discusses human rights-related shareholder proposals.",
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                    "source": "https://www.roche.com/investors/reports/gri-index"
                },
                "page_content": "  * [ About Roche ](/about/)\n    * [ About Roche  ](/about/)\n    * [ Strategy ](/about/strategy/)\n    * [ Business ](/about/business/)\n    * [ Sustainability ](/about/sustainability/)\n    * [ Leadership ](/about/leadership/)\n    * [ Governance ](/about/governance/)\n    * [ History ](/about/history)\n  * [ Solutions ](/solutions/)\n    * [ Solutions  ](/solutions/)\n    * [ Focus areas ](/solutions/focus-areas/)\n    * [ Pharma solutions ](/solutions/pharma/)\n    * [ Diagnostic solutions ](/solutions/diagnostics/)\n    * [ Pipeline ](/solutions/pipeline/)\n  * [ Innovation ](/innovation/)\n    * [ Innovation  ](/innovation/)\n    * [ Team & structure ](/innovation/structure/)\n    * [ Innovation process ](/innovation/process/)\n    * [ Ethical standards ](/innovation/ethical-standards/)\n    * [ Partnering ](/innovation/partnering/)\n  *   * [ Investors ](/investors/)\n    * [ Investors  ](/investors/)\n    * [ Investor updates ](/investors/updates/)\n    * [ Investor events ](/investors/events/)\n    * [ Reporting ](/investors/reports/)\n    * [ Finance Information Tool ](/investors/rofis)\n    * [ Share and Bond information ](/investors/bonds)\n    * [ Download center ](/investors/downloads)\n  * [ Media ](/media/)\n    * [ Media  ](/media/)\n    * [ Media releases ](/media/releases/)\n    * [ Media events ](/media/events/)\n    * [ Media statements ](/media/statements)\n    * [ Media library ](/media/library-images)\n\n  * [ Stories ](/stories/)\n  * [ Careers ](https://careers.roche.com)\n  *   * [ ](/worldwide)\n  * [ ](/search)\n\n#  Roche GRI Content Index\n\nAs part of Roche's efforts to advance sustainability reporting, we support the\nactivities of the Global Reporting Initiative (GRI) as a Community member and\nadvocate its mission to empower decision makers worldwide, through the GRI\nsustainability reporting standards and its multi-stakeholder network to take\naction towards a more sustainable world.\n\nRoche has been using the Global Reporting Initiative as a guide and reference\npoint since 2005. In 2018/2019, we conducted a  of key topics that are highly\nrelevant to us and to our key stakeholders in accordance with the GRI\nSustainability Reporting Standards. In 2023, we have declared in accordance\nwith the latest GRI standards published in 2021.\n\n###  GRI Content Index 2024\n\nFor the Content Index - Advanced Service, GRI Services reviewed that the\ncontent index is clearly presented, in a manner consistent with the Standards,\nand that the references for all disclosures are included correctly and aligned\nwith the appropriate sections in the body of the report.\n\n[ Annual Report 2024\n](https://assets.roche.com/f/176343/x/09457b2a19/ar24e.pdf)\n\n##  Discover more\n\n\u00c2\u00a9  \u00c2 F. Hoffmann-La Roche Ltd \u00c2\n\nThis website contains information on products which is targeted to a wide\nrange of audiences and could contain product details or information otherwise\nnot accessible or valid in your country. Please be aware that we do not take\nany responsibility for accessing such information which may not comply with\nany legal process, regulation, registration or usage in the country of your\norigin.\n\n",
                "url": "https://www.roche.com/investors/reports/gri-index"
            },
            "reason": "This is Roche's GRI (Global Reporting Initiative) index page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain. It's a direct source from the company.",
            "reliability_score": 0.8,
            "search_query": "company 'N/A' supply chain human rights",
            "summary": "This is Roche's GRI (Global Reporting Initiative) index page, indicating their commitment to sustainability reporting, which often includes human rights aspects within their supply chain.",
            "url": "https://www.roche.com/investors/reports/gri-index"
        },
        {
            "content": {
                "metadata": {
                    "ext_id": "36b2a452-2fb7-4a51-963b-fe2bebc9b09e",
                    "origin": "public",
                    "resource_location": "web",
                    "resource_type": "webpage",
                    "source": "https://www.hugp.com/en/sustainable/gri.html"
                },
                "page_content": "Sustainability\n\n#  GRI Content Index\n\nStatement of use  |  H.U. Group Holdings, Inc. has reported in accordance with the GRI Standards for the period April 2023 - March 2024.   \n---|---  \nGRI 1 used  |  GRI 1: Foundation 2021   \n  \nWeb  Website\n\nIR  [ Integrated Report 2024 [PDF:8,005KB]\n](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)\n\nGR  [ Corporate Governance Report ](/en/company/governance.html)\n\n##  Universal Standards\n\n###  GRI 2\uff1a General Disclosures 2021\n\n###  1\\. The organization and its reporting practices\n\nDescription  |  Reference page title   \n---|---  \n2-1  |  Organizational details  |  Web  [ Corporate Profile ](/en/company/profile.html) IR  [ Main Group Companies and Bases (p.57-58) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-2  |  Entities included in the organization\u2019s sustainability reporting  |  Web  [ Group Companies ](/en/company/group.html) IR  [ Editorial Policy (p.1) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) IR  [ Main Group Companies and Bases (p.58) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-3  |  Reporting period, frequency and contact point  |  Web  [ Contact Us ](/en/form/contact/index.html) IR  [ Editorial Policy (p.1)   \nReporting cycle: Once a year  \nDate of most recent report: October 30th, 2024\n](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-4  |  Restatements of information  |  N/A   \n2-5  |  External assurance  |  \\-   \n  \n###  2\\. Activities and workers\n\nDescription  |  Reference page title   \n---|---  \n2-6  |  Activities, value chain, and other business relationships  |  Web  [ H.U. Group Business Overview ](/en/business/) IR  [ The H.U. Group\u2019s Businesses (p.4) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-7  |  Employees  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n2-8  |  Workers who are not employees  |  \\-   \n  \n###  3\\. Governance\n\nDescription  |  Reference page title   \n---|---  \n2-9  |  Governance structure and composition  |  WEB  [ Corporate Governance ](/en/company/governance.html) IR  [ Sustainability Management > Sustainability Promotion System (p.38) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) IR  [ Corporate Governance > Directors and Officers (p.46) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) IR  [ Corporate Governance > Corporate Governance Structure (p.49) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) GR  [ Corporate Governance Structure(p.21) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf) GR  [ II. Business Management Organization and Other Corporate Governance Systems regarding Decision-making, Execution of Business, and Oversight (p.7-16) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf)  \n2-10  |  Nomination and selection of the highest governance body  |  IR  [ Corporate Governance > Corporate Governance Structure (p.49-50) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) GR  [ II. Business Management Organization and Other Corporate Governance Systems regarding Decision-making, Execution of Business, and Oversight (p.8-11) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf)  \n2-11  |  Chair of the highest governance body  |  GR  [ II. Business Management Organization and Other Corporate Governance Systems regarding Decision-making, Execution of Business, and Oversight(p.8) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf)  \n2-12  |  Role of the highest governance body in overseeing the management of impacts  |  WEB  [ Sustainability at the H.U. Group > Promotion Structure for Sustainability ](/en/sustainable/policy.html) WEB  [ Materiality ](/en/sustainable/materiality.html) IR  [ Risk Management > Basic Approach and Management Structure (p.36) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-13  |  Delegation of responsibility for managing impacts  |  WEB  [ Sustainability at the H.U. Group > Promotion Structure for Sustainability ](/en/sustainable/policy.html) IR  [ Sustainability Management > Sustainability Promotion System (p.38) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-14  |  Role of the highest governance body in sustainability reporting  |  WEB  [ Sustainability at the H.U. Group > Promotion Structure for Sustainability ](/en/sustainable/policy.html) IR  [ Sustainability Management > Sustainability Promotion System (p.38) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-15  |  Conflicts of interest  |  GR  [ II. Business Management Organization and Other Corporate Governance Systems regarding Decision-making, Execution of Business, and Oversight(p.9-11) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf)  \n2-16  |  Communication of critical concerns  |  WEB  [ ESG Performance Data > Compliance ](/en/sustainable/esg.html) IR  [ Compliance > Whistleblowing System (p.54) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) GR  [ I. Basic Views on Corporate Governance, Capital Structure, Corporate Attributes and Other Basic Information(p.6) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf)  \n2-17  |  Collective knowledge of the highest governance body  |  WEB  [ H.U. Group Corporate Governance Policy > 7\\. Director training ](/resources/file/pdf/en/20240329_CG_Policy_E.pdf)  \n2-18  |  Evaluation of the performance of the highest governance body  |  IR  [ Corporate Governance > Evaluating the Effectiveness of the Board of Directors (p.50) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) GR  [ [Supplementary Principle 4.11.3 Assessment of the Effectiveness of the Board of Directors] (p.4-5) ](/resources/file/pdf/en/20241129_CorporateGovernanceReport_e_HU4544_AA.pdf)  \n2-19  |  Remuneration policies  |  IR  [ Compensation for Directors and Executive Officers, etc. (p.51-53) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-20  |  Process to determine remuneration  |  IR  [ Compensation for Directors and Executive Officers, etc. (p.51) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-21  |  Annual total compensation ratio  |  \\-   \n  \n###  4\\. Strategy, policies and practices\n\nDescription  |  Reference page title   \n---|---  \n2-22  |  Statement on sustainable development strategy  |  IR  [ Message from the CEO (p.5-7) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) WEB  [ Top Message ](/en/sustainable/message/hugp.html)  \n2-23  |  Policy commitments  |  WEB  [ H.U. Group Code of Conduct ](/en/company/codeofconduct.html)  \n2-24  |  Embedding policy commitments  |  WEB  [ H.U. Group Code of Conduct ](/en/company/codeofconduct.html) IR  [ Compliance > Promotion of Compliance Awareness (p.54) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-25  |  Processes to remediate negative impacts  |  WEB  [ Contact Us ](/en/form/contact/index.html)  \n2-26  |  Mechanisms for seeking advice and raising concerns  |  WEB  [ H.U. Group Code of Conduct ](/en/company/codeofconduct.html) IR  [ Compliance > Whistleblowing System (p.54) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n2-27  |  Compliance with laws and regulations  |  No relevant cases were reported.  WEB  [ ESG Performance Data > Management ](/en/sustainable/esg.html)  \n2-28  |  Membership associations  |  \\-   \n  \n###  5\\. Stakeholder engagement\n\nDescription  |  Reference page title   \n---|---  \n2-29  |  Approach to stakeholder engagement  |  WEB  [ Communication with Stakeholders > Initiatives ](/en/sustainable/communication.html)  \n2-30  |  Collective bargaining agreements  |  WEB  [ Human Capital Site > Policy > Labor Practices ](/en/humancapital/#stance01)  \n  \n###  GRI 3\uff1aMaterial Topics 2021\n\nDescription  |  Reference page title   \n---|---  \n3-1  |  Process to determine material topics  |  WEB  [ Materiality ](/en/sustainable/materiality.html) IR  [ Sustainability Management > Basic Approach (p.37) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n3-2  |  List of material topics  |  WEB  [ Materiality ](/en/sustainable/materiality.html) IR  [ Sustainability Management > Basic Approach (p.37) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n3-3  |  Management of material topics  |  WEB  [ Materiality ](/en/sustainable/materiality.html) IR  [ Sustainability Management > Basic Approach (p.37) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) IR  [ Environment and Energy > Strategy and Progress (p.40) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) IR  [ Supply Chain Management > Strategy and Progress (p.41) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) IR  [ Human Capital > Strategy and Progress (p.42-44) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n  \n##  Topic Standards (Economic)\n\n###  GRI 201\uff1aEconomic Performance 2016\n\nDescription  |  Reference page title   \n---|---  \n201-1  |  Direct economic value generated and distributed  |  WEB  [ Financial Highlights ](/en/ir/highlights/)  \n201-2  |  Financial implications and other risks and opportunities due to climate change  |  WEB  [ Environment and Energy > Information Disclosure in line with TCFD Recommendations > Response to risks / opportunities ](/en/sustainable/environment.html)  \n201-3  |  Defined benefit plan obligations and other retirement plans  |  \\-   \n201-4  |  Financial assistance received from government  |  N/A   \n  \n###  GRI 202\uff1a Market Presence 2016\n\nDescription  |  Reference page title   \n---|---  \n202-1  |  Ratios of standard entry level wage by gender compared to local minimum wage  |  WEB  [ H.U. Group Code of Conduct ](/en/company/codeofconduct.html)  \n202-2  |  Proportion of senior management hired from the local community  |  \\-   \n  \n###  GRI 203\uff1a Indirect Economic Impacts 2016\n\nDescription  |  Reference page title   \n---|---  \n203-1  |  Infrastructure investments and services supported  |  WEB  [ Philanthropy > Investing in community activities ](/en/sustainable/philanthropy.html)  \n203-2  |  Significant indirect economic impacts  |  \\-   \n  \n###  GRI 205\uff1a Anti-corruption 2016\n\nDescription  |  Reference page title   \n---|---  \n205-1  |  Operations assessed for risks related to corruption  |  WEB  [ H.U. Group Code of Conduct ](/en/company/codeofconduct.html)  \n205-2  |  Communication and training about anti-corruption policies and procedures  |  IR  [ Compliance (p.54) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) WEB  [ Human Capital Site > Human Resource Development ](/en/humancapital/materiality/hrd.html)  \n205-3  |  Confirmed incidents of corruption and actions taken  |  No relevant cases were reported.  WEB  [ ESG Performance Data > Compliance ](/en/sustainable/esg.html)  \n  \n###  GRI 206\uff1a Anti-competitive Behavior 2016\n\nDescription  |  Reference page title   \n---|---  \n206-1  |  Legal actions for anti-competitive behavior, anti-trust, and monopoly practices  |  N/A   \n  \n##  Topic Standards (Environmental)\n\n###  GRI 302\uff1a Energy 2016\n\nDescription  |  Reference page title   \n---|---  \n302-1  |  Energy consumption within the organization  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n302-2  |  Energy consumption outside of the organization  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n302-3  |  Energy intensity  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n302-4  |  Reduction of energy consumption  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n302-5  |  Reductions in energy requirements of products and services  |  \\-   \n  \n###  GRI 303\uff1a Water and Effluents 2018\n\nDescription  |  Reference page title   \n---|---  \n303-1  |  Interactions with water as a shared resource  |  \\-   \n303-2  |  Management of water discharge-related impacts  |  \\-   \n303-3  |  Water withdrawal  |  WEB  [ ESG Performance Data > Water ](/en/sustainable/esg.html)  \n303-4  |  Water discharge  |  WEB  [ ESG Performance Data > Water ](/en/sustainable/esg.html)  \n303-5  |  Water consumption  |  \\-   \n  \n###  GRI 304\uff1a Biodiversity 2016\n\nDescription  |  Reference page title   \n---|---  \n304-1  |  Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas  |  WEB  [ Environment and Energy > Our Approach to Biodiversity ](/en/sustainable/environment.html)  \n304-2  |  Significant impacts of activities, products, and services on biodiversity  |  WEB  [ Environment and Energy > Our Approach to Biodiversity ](/en/sustainable/environment.html)  \n304-3  |  Habitats protected or restored  |  N/A   \n304-4  |  IUCN Red List species and national conservation list species with habitats in areas affected by operations  |  N/A   \n  \n###  GRI 305\uff1a Emissions 2016\n\nDescription  |  Reference page title   \n---|---  \n305-1  |  Direct (Scope1) GHG emissions  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n305-2  |  Energy indirect (Scope 2) GHG emissions  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n305-3  |  Other indirect (Scope3) GHG emissions  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n305-4  |  GHG emissions intensity  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html)  \n305-5  |  Reduction of GHG emissions  |  WEB  [ ESG Performance Data > Climate change ](/en/sustainable/esg.html) WEB  [ Environment and Energy > Targets and Results ](/en/sustainable/environment.html)  \n305-6  |  Emissions of ozone-depleting substances (ODS)  |  N/A   \n305-7  |  Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions  |  N/A   \n  \n###  GRI 306\uff1a Waste 2020\n\nDescription  |  Reference page title   \n---|---  \n306-1  |  Waste generation and significant waste-related impacts  |  \\-   \n306-2  |  Management of significant waste-related impacts  |  IR  [ Environment and Energy > Strategy and Progress (p.40) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n306-3  |  Waste generated  |  WEB  [ ESG Performance Data > Waste ](/en/sustainable/esg.html)  \n306-4  |  Waste diverted from disposal  |  \\-   \n306-5  |  Waste directed to disposal  |  \\-   \n  \n###  GRI 308\uff1a Supplier Environmental Assessment 2016\n\nDescription  |  Reference page title   \n---|---  \n308-1  |  New suppliers that were screened using environmental criteria  |  WEB  [ Supply Chain Management ](/en/sustainable/procurement.html) IR  [ Supply Chain Management (p.41) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n308-2  |  Negative environmental impacts in the supply chain and actions taken  |  WEB  [ Supply Chain Management ](/en/sustainable/procurement.html) WEB  [ ESG Performance Data > Business partners ](/en/sustainable/esg.html) IR  [ Supply Chain Management (p.41) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf)  \n  \n##  Topic Standards (Social)\n\n###  GRI 401\uff1a Employment 2016\n\nDescription  |  Reference page title   \n---|---  \n401-1  |  New employee hires and employee turnover  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n401-2  |  Benefits provided to full-time employees that are not provided to temporary or part-time employees  |  \\-   \n401-3  |  Parental leave  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n  \n###  GRI 403\uff1a Occupational Health and Safety 2018\n\nDescription  |  Reference page title   \n---|---  \n403-1  |  Occupational health and safety management system  |  WEB  [ Human Capital Site > Policy > Occupational Health and Safety Policy ](/en/humancapital/#stance01) WEB  [ Human Capital Site > Management ](/en/humancapital/#stance02)  \n403-2  |  Hazard identification, risk assessment, and incident investigation  |  \\-   \n403-3  |  Occupational health services  |  \\-   \n403-4  |  Worker participation, consultation, and communication on occupational health and safety  |  WEB  [ Human Capital Site > Management ](/en/humancapital/#stance02)  \n403-5  |  Worker training on occupational health and safety  |  \\-   \n403-6  |  Promotion of worker health  |  WEB  [ Human Capital Site > Health Improvement ](/en/humancapital/materiality/health.html)  \n403-7  |  Prevention and mitigation of occupational health and safety impacts directly linked by business relationships  |  \\-   \n403-8  |  Workers covered by an occupational health and safety management system  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n403-9  |  Work-related injuries  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n403-10  |  Work-related ill health  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n  \n###  GRI 404\uff1a Training and Education 2016\n\nDescription  |  Reference page title   \n---|---  \n404-1  |  Average hours of training per year per employee  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n404-2  |  Programs for upgrading employee skills and transition assistance programs  |  IR  [ Human Capital > Human Resource Development (p.43) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) WEB  [ Human Resource Development > Training System and Employees Career Development ](/en/humancapital/materiality/hrd.html)  \n404-3  |  Percentage of employees receiving regular performance and career development reviews  |  IR  [ Human Capital > Human Resource Development (p.43) ](/resources/file/pdf/en/hugp_report_2024_e_HP.pdf) WEB  [ Human Capital Site > Human Resource Development > Training System and Employees Career Development ](/en/humancapital/materiality/hrd.html)  \n  \n###  GRI 405\uff1a Diversity and Equal Opportunity 2016\n\nDescription  |  Reference page title   \n---|---  \n405-1  |  Diversity of governance bodies and employees  |  WEB  [ ESG Performance Data > Employees ](/en/sustainable/esg.html)  \n405-2  |  Ratio of basic salary and remuneration of women to men  |  \\-   \n  \n###  GRI 406\uff1a Non-discrimination 2016\n\nDescription  |  Reference page title   \n---|---  \n406-1  |  Incidents of discrimination and corrective actions taken  |  N/A   \n  \n###  GRI 407\uff1a Freedom of Association and Collective Bargaining 2016\n\nDescription  |  Reference page title   \n---|---  \n407-1  |  Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk  |  No relevant cases were reported.  WEB  [ Supply Chain Management > Assessment of human rights items ](/en/sustainable/procurement.html)  \n  \n###  GRI 408\uff1a Child Labor 2016\n\nDescription  |  Reference page title   \n---|---  \n408-1  |  Operations and suppliers at significant risk for incidents of child labor  |  No relevant cases were reported.  WEB  [ ESG Performance Data > Business partners ](/en/sustainable/esg.html)  \n  \n###  GRI 409\uff1a Forced or Compulsory Labor 2016\n\nDescription  |  Reference page title   \n---|---  \n409-1  |  Operations and suppliers at significant risk for incidents of forced or compulsory labor  |  No relevant cases were reported.  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Group ](/en/sustainable/policy.html)\n\n  * [ Materiality ](/en/sustainable/materiality.html)\n\n  * [ Communication with Stakeholders ](/en/sustainable/communication.html)\n\n  * [ United Nations Global Compact ](/en/sustainable/globalcompact.html)\n\n  * Sustainability Subcommittee \n\n    * [ Environment and Energy ](/en/sustainable/environment.html)\n    * [ Human Capital ](/en/sustainable/humanrights.html)\n    * [ Supply Chain Management ](/en/sustainable/procurement.html)\n    * [ Philanthropy ](/en/sustainable/philanthropy.html)\n    * [ BCP ](/en/sustainable/bcp.html)\n\n  * [ Reports Archive ](/en/sustainable/report.html)\n\n  * [ GRI Standards Content Index ](/en/sustainable/gri.html)\n\n  * [ ESG Performance Data ](/en/sustainable/esg.html)\n\n  * [ External Ratings ](/en/sustainable/external_ratings.html)\n\n  * [ Site Map ](/en/sitemap/)\n  * [ Personal Information Protection Policy ](/en/privacy/)\n  * [ Terms of Use ](/en/terms/)\n  * [ Contact Us ](/en/form/contact/index.html)\n\n  * [ JP  JAPANESE  ]()\n  * [ EN  ENGLISH  ]()\n\nCopyright \u00a9 2022 H.U. Group Holdings, Inc. All rights reserved.\n\n",
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                    "document": "tags: [ corporate sustainability due diligence ](https://www.laborandemploymentlawcounsel.com/tag/corporate-sustainability- due-diligence/) , [ environmental ](https://www.laborandemploymentlawcounsel.com/tag/environmental/) , [ esg ](https://www.laborandemploymentlawcounsel.com/tag/esg/) , [ governance ](https://www.laborandemploymentlawcounsel.com/tag/governance/) , [ social",
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                    "document": "##### about bsr bsr\u00ae is a sustainable business network and consultancy focused on creating a world in which all people can thrive on a healthy planet. with offices in asia, europe, and north america, bsr\u00ae provides its 300+ member companies with insight, advice, and collaborative initiatives to help them see a changing world more clearly, create long-term value, and scale impact.",
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                    "document": "* supported by: * * ### subscribe or follow [ ](http://app.feedblitz.com/f/?sub=186216&cids=1) [ ](http://www.twitter.com/harvardcorpgov) [ ](https://corpgov.law.harvard.edu/feed/) [ ](https://www.linkedin.com/company/harvard-law-school-forum-on-corporate- governance) [ ](https://www.facebook.com/harvardcorpgov/) * ### program on corporate governance advisory board",
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                    "document": "* * * \u00a9 2025 business for social responsibility\u2122 | [ data protection and privacy policy ](/en/data-protection-and-privacy-policy) | [ cookie policy ](/en/cookie-policy) | [ terms of services ](/en/terms-of-services) | [ antitrust and competition law policy ](/en/antitrust-and-competition-law-policy) | [ contact ](/en/about/contact)",
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                    "document": "102-4 | location of operations | [ our offices ](/en/company/office/) [ integrated report ](/en/ir/library/report.html) 102-5 | ownership and legal form | [ securities report ](/en/ir/library/securities_report.html) 102-6 | markets served | [ corporate information ](/en/company/) 102-7 | scale of the organization | [ company profile ](/en/company/profile.html)",
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                {
                    "document": "id | disclosure | corresponding page ---|---|--- 103-1 | explanation of the material topic and its boundary | [ sustainability ](/en/sustainability/) 103-2 | the management approach and its components | [ sustainability ](/en/sustainability/) 103-3 | evaluation of the management approach | [ sustainability ](/en/sustainability/)",
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                },
                {
                    "document": "* [ disclosure policy ](/english/corporate/sustainability/disclosurepolicy/) 102-52 | reporting cycle | * [ disclosure policy ](/english/corporate/sustainability/disclosurepolicy/) 102-53 | contact point for questions regarding the report | * [ disclosure policy ](/english/corporate/sustainability/disclosurepolicy/)",
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                    "document": "* supported by: * * ### subscribe or follow [ ](http://app.feedblitz.com/f/?sub=186216&cids=1) [ ](http://www.twitter.com/harvardcorpgov) [ ](https://corpgov.law.harvard.edu/feed/) [ ](https://www.linkedin.com/company/harvard-law-school-forum-on-corporate- governance) [ ](https://www.facebook.com/harvardcorpgov/) * ### program on corporate governance advisory board",
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                    "document": "[ sustainable trade in resources this report looks at trade flows of material resources and their environmental impacts. it also demonstrates how both multilateral trade rules and regional trade agreements can be used proactively to advance the circular and greener economy and minimize the environmental impacts associated with resource extraction. ](/reports/sustainable-trade- resources)",
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                    "document": "tags: [ corporate sustainability due diligence ](https://www.laborandemploymentlawcounsel.com/tag/corporate-sustainability- due-diligence/) , [ environmental ](https://www.laborandemploymentlawcounsel.com/tag/environmental/) , [ esg ](https://www.laborandemploymentlawcounsel.com/tag/esg/) , [ governance ](https://www.laborandemploymentlawcounsel.com/tag/governance/) , [ social",
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