By Derek Deutsch, Portfolio Manager, ClearBridge Investments
The financial market downturn has negatively impacted most U.S. companies and their stocks, some more than others. Essentially out of nowhere, companies are being forced to respond to an almost completely new public health reality. Management teams are trying to conserve costs while treating employees compassionately, ensuring safety and allocating capital appropriately.
At times like this, do environmental, social and governance (ESG) investment strategies matter?
Builds on Established Record of Reporting on Corporate Citizenship
May 11, 2020 - Citi today released its 2019 Environmental, Social and Governance (ESG) Report. The report builds upon Citi’s Global Citizenship Report, which Citi had been publishing since 2001. The ESG report highlights the ways in which Citi is enabling progress and sustainable growth in communities around the globe.
Performance Exam shows high marks in Lending, Investment, Service in low- and moderate-income communities
MIAMI, May 5, 2020 /3BL Media/ – Wells Fargo & Company today announced that its most recent Community Reinvestment Act (CRA) rating for Florida is “Outstanding.” Wells Fargo also received a national rating of “Outstanding” from the Office of the Comptroller of the Currency (OCC) as a result of the company’s strong performance on the exam’s components and the company’s proven commitment to serving low- to moderate-income communities. The bank’s strong performance on the exam’s components reflected positive results in Florida and other markets the bank serves.
Creating sustainable bee habitats on former coal mining properties
FISHERS, Ind., May 6, 2020 /3BL Media/ - Land Betterment Corporation (“Land Betterment” or the “Company”), an environmental solutions company fostering positive impact through upcycling former coal mining sites to create sustainable community development and job creation, is committed to enhancing the ecosystem of former coal mining sites through its subsidiary, Pollinate. Pollinate is focusing on cultivating bee colonies on former mining properties. With bees being by far the most significant animal pollinators and critical to the ecosystem, Land Betterment is aiming for Pollinate to work
NEW YORK, May 5, 2020 /3BL Media/ - On #GivingTuesdayNow, we’re proud to recognize and support the heroic efforts of organizations, essential workers and others who are putting in countless hours to care for and provide relief to communities impacted by the COVID-19 pandemic.
At the start of this crisis, American Express mobilized quickly to back nonprofits leading the charge to provide protective equipment to frontline healthcare workers, research and develop vaccines and treatments, and feed communities impacted by COVID-19.
Carbon Emissions, Plastic Waste and Water Management Also Featured in Annual Impact Report
NEW YORK, May 5, 2020 /3BL Media/ – ClearBridge Investments has identified environmental changes as the most significant risk to the long-term health of publicly-traded companies, and remains committed to engaging with the companies in its portfolios to improve reporting and business performance.
Rich Gilbert, senior vice president and chief digital information officer at insurance provider Aflac, says the current crisis forced him to reinvent the way his agile teams work. "For agile IT teams, this means using collaboration tools like Microsoft Teams and Slack to maintain the pace of our projects," he explains. "Despite the disruption of the pandemic, productivity has kept at-pace across the board in terms of what we’ve seen with our deliveries."
Program feeds frontline healthcare professionals staying for free in rooms donated by Hilton and American Express and enables some furloughed restaurant staff to return to work in Los Angeles, New York City and Washington, D.C.
May 5, 2020 /3BL Media/ - American Express (NYSE:AXP) and Hilton (NYSE:HLT) recently teamed up to donate up to 1 million hotel room nights to medical professionals on the frontlines fighting COVID-19. Since April, hundreds of thousands of room nights have been booked.
By Piya Baptista, Program Implementation Manager, Global Reporting Initiative
Companies around the globe are facing an unprecedented level of disruption due to the COVID-19 crisis. The economic consequences of the outbreak are already being widely felt. But what about the responsibilities of businesses to look after their workforce? What is clear is that the way they are responding can either alleviate or exacerbate the impact of the pandemic – on employees, their families, and the communities in which they operate.