KeyBank Community Development Lending and Investment (CDLI) provided $16.6 million in low income housing tax credit equity (state and federal), a $21.3 million construction loan and $6.3 million taxable equity bridge for the construction of Silos Apartments.
Costa Cruises has today unveiled its 4GOODFOOD program, whose aim is to halve food waste on board the Italian company's ships by 2020. The starting point for the project is recognizing the value of food. The food experience is a key part of the cruise and the relevant figures are quite staggering: some 54 million meals a year are prepared on board the members of the Costa fleet.
In 2017, Bloomberg announced that it was the first U.S. domiciled company to become a U.N. PRI signatory as a corporate pension plan sponsor (it was a signatory since 2009 as a service provider). It took about four to five years to get key decision-makers comfortable including an ESG-themed fund in the lineup, said Lee Ballin, head of sustainable business at Bloomberg, an effort led by the Global Benefits Team to align the investment and retirement committee; senior business leaders; legal counsel; the professional development team and investor and retirement consultants.
Award recognizes companies that through their Corporate Responsibility efforts are acting to “help realize the United Nations Sustainable Development Goals by 2030”
More than 450 investor, company and capital market leaders convened at the Investor Summit on Climate Risk today to map out the next steps for increased action on climate change. The strong showing of leaders, who ranged from institutional investors to state and city pension fund fiduciaries to corporate executives, demonstrated the growing mainstream attention to the greatest threat of our generation.
To meet the growing need of leading institutional investors for a longer-term view, the investors in CECP’s Strategic Investor Initiative’s (SII) Advisory Board released a letter—signed by Bill McNabb, Chairman, Vanguard and 9 other leading investors--with a call-to-action to reframe communications between CEOs, companies, and investors to focus on long-term value creation.
Last week, smallholder farmers convened in a field on the outskirts of Gonaives, Haiti to harvest cotton for the first time in 30 years. Once Haiti’s fourth largest export crop, cotton growing stopped in the 1980s due to policies and politics of the time. Now outdoor lifestyle brand Timberland, in partnership with the Smallholders Farmers Alliance (SFA) and other companies, aims to bring cotton back as phase two of its ongoing work to help reforest Haiti and benefit smallholder farmers.
Goldcorp and FLSmidth have been recognized for their co-development of EcoTailsTM, as the joint winners of the Mining Magazine Editor’s Award 2017, an award given annually to celebrate outstanding new technologies, innovations and initiatives within the mining sector.
Andy Kessler made some interesting points in his piece, “Stocks Weren’t Made for Social Climbing." Chiefly, we at CECP: The CEO Force for Good, agree with his emphasis on the importance of profits. The issue is how you get there and how to create sustainable value, not just short-term gains. When he suggests that to invest in socially motivated companies, one is passing up gains, he proceeds from a false dichotomy. Properly realized, the value proposition of a corporation—its outputs, its employee and community relations, its returns, and, yes, its philanthropy—are not linear; they are circular.
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