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Tuesday, June 13, 2023

The Intersection of Fashion and Sustainability in Footwear

Shoe companies have witnessed C-suite leaders prioritize sustainability, a shift in company cultures showing the footwear industry making giant strides beyond corporate promises. Stakeholders are developing KPIs and bullish strategies to foster ESG reporting. Although the COVID-19 pandemic has had a compelling impact on industries, 2023 through 2030 should see more companies start to report sustainability both to the public and internally.

With millions of footwear inundating landfills, manufacturing of environmentally preferred materials (EPMs) has become pronounced. Sustainable use of resources, including water, energy and materials, has become the next big thing. Prominently, Adidas is contemplating replacing virgin polyester with recycled polyester by 2024. The footwear giant is bullish that 9 out of its 10 articles will have a sustainable material by 2025. Moreover, in 2021, the sportswear company aimed to use recycled marine plastic waste to manufacture 17 million pairs of shoes. During the period, Tier 1 suppliers attained a 15% dip in water intensity, while Tier 2 suppliers observed an 18% plunge.

Forward-looking companies are zeroing in on augmenting the adoption of renewable energy and boosting energy efficiency. Gen Z and millennials are expected to seek products made from materials that can be recycled, reused or repurposed. Besides, socially compliant and sound corporate governance-focused companies will remain ahead of the curve in a competitive footwear industry.

Environmental Perspective

Contract manufacturers, material vendors and shoe companies have upped their environmental strategies to tap into the potential opportunities and enhance their ESG profiles. In essence, Caleres Inc. is vying to recycle, reclaim, or refurbish 90,000 pairs of shoes each year. The American footwear brand mentioned in its inaugural ESG report that environmentally preferred materials will be used for 25% of footwear sold in Famous Footwear. Moreover, the EPM will also be used in 100% of Caleres products and shoeboxes by 2025. Footwear material solution providers have furthered their emphasis on recycled materials, bio-based materials, waterless dying, material consolidation and waste reduction to propel their shoe sustainability profiles.

Social Perspective

Lately, incorporating diversity, equity and inclusion (DEI) has become the talk of the town as leading players strive to create a positive change in the industry, protect the rights of employees and leverage a culture of acceptance and belonging. To illustrate, Nike had a 50.4% representation of women in the global corporate workforce during FY 2021. NIKE Impact Report notes that the American multinational company has 100% pay equity across all employee levels on an annual basis and offers equitable and competitive benefits for all employees. It also fostered relationships with more than 50 external partners, such as Lesbians Who Tech, the Mom Project and Women Who Code, enabling the footwear behemoth to hire candidates from various backgrounds. Considering the soaring demand for socially sustainable footwear, leading shoe brands are poised to emphasize ESG pillars.

Is your business one of the participants in the Footwear Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Governance Perspective

The significance of sound corporate governance has gained new heights to oversee sustainability initiatives, DEI opportunities, community affairs and labor practices. In essence, at Puma, leaders from CEO to the Team Head level have clearly defined sustainability targets in line with its Forever Better Sustainability Strategy. It is worth noting that the strategy is based on 10FOR25 target areas, including Human Rights, Climate Action, Plastic and the Oceans and Circularity, to integrate sustainability into the core business functions.

The German sporting goods company has underscored gender balance at management levels and reinforced the ratio of women in leadership positions. As of November 2022, women have filled 44% of leadership positions at Puma. Further, employees in leadership positions are trained in intercultural communication, diversity and inclusion, exhibiting commitment to a tolerant and open work environment through buoyant governance.

The effective implementation of ESG practices, along with organic and inorganic growth strategies, has become paramount to adding value to the company's growth. To put this in perspective, footwear companies are poised to use sustainability to systematically address challenges focusing on technological advancements, geographical expansion, ESG reporting and bullish sustainability targets. For instance, by May 2021, On met its goal to use 100% recycled, FSC-certified cardboard, as well as 100% recycled HDPE in its apparel packaging, the Zurich-based athletic company stated in the Impact Progress Report 2021.

Given the social and political pressure shoe companies grapple with, industry leaders are expected to act proactively to stay ahead of the game. According to Grand View Research, the global footwear market size stood at USD 373.19 billion in 2021 and could depict a 4.3% CAGR between 2022 and 2030.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Role of Biofuels in Meeting ESG Goals

Stakeholders are counting on environmental, social and governance (ESG) goals to decarbonize the supply chain of the biofuel industry. The global push to replace fossil fuels with biofuels has sparked innovations and prompted industry players to invest in renewable feedstock. Sustainable solutions will warrant infrastructure developments, demand signals and sound corporate governance. Energy companies will likely consider ESG risks and opportunities for a low-carbon economy.

The need for clean energy has spurred the penetration of renewable sources. According to an IEA report, in the net zero scenario, biofuel produced from residues, wastes and dedicated crops that do not compete with food crops account for 50% of the biofuels consumed in 2030. Moreover, biofuels can prevent 4.4% of global road transport oil use.

Businesses are responding to the need for low-carbon fuels to help decarbonize the automotive, transport, marine and aviation sectors. For instance, Raízen produced approximately 3 billion liters of ethanol from sugar cane, while around 26 million liters of second-gen cellulosic ethanol from inedible agricultural waste in 2022. Besides, during the same period, Shell inked a non-binding MoU with Lufthansa to supply sustainable aviation fuel (SAF) to help reduce carbon emissions from air travel.

All that glitter is not gold. Green campaigners claim that biofuels could disrupt land use patterns that may lead to increased GHG emissions, air and water pollution and pressure on water resources, thereby augmenting food prices. According to Transport & Environment, palm biodiesel is three times worse for the climate than fossil fuel. Besides, the watchdog claimed that every day around 19 million bottles of rapeseed and sunflower oil, and 14 million bottles of soy and palm oil are burned across Europe. Amidst the flak received from governing bodies, forward-looking companies and innovators are expected to bolster their ESG profile to enhance their brand values.

Valero Energy Emphasizes Reducing Scope 1 and 2 Emissions

Sustainable fuels have become paramount in contributing to the energy transition and a decarbonized economy. Forward-looking companies, such as Valero, have bolstered their emission targets and are gearing up to propel a low-carbon economy. The company has injected over USD 4.65 billion into low-carbon fuels business. In 2021, it allocated over 70% of the growth capital to low-carbon projects. Furthermore, the U.S.-based company is on course to minimize and displace 100% of refinery Scope 1 and 2 GHG emissions by 2035.

The petroleum refinery is expected to augment the total annual capacity of the new renewable diesel plant to 1.2 billion gallons and 50 million gallons of renewable naphtha. Similar to Shell, Valero has spurred emphasis on sustainable aviation fuel: it is assessing the engineering capability to include SAF in the new renewable diesel facility in Port Arthur. Renewable fuel and SAF could be game changer to undergird the ESG profile and create long-term value for stockholders.

Diversity and Equity Garner Headlines in Bunge Limited

Mental well-being and diversity, to name a few, have become the bedrock for organizations to propel their ESG rankings. With shifting trends, training, diversity, equity and inclusion have amassed huge attention across business verticals. In 2021, Bunge offered its employees over 87,000 hours of training, while over 60 participants were in targeted female development programs. The company infers that around 44% of all new hires across the organization were women.

Bunge Employee Resource Group has furthered its focus on community building and awareness initiatives, including Proud & Allied, Women @Bunge, Veterans, Bunge Global Black Network and Asian Professionals. Besides, the U.S-headquartered company also established a “Together We Grow” consortium—a coalition (public-private) between food companies, agriculture, the USDA, nonprofits and universities—to address diversity and inclusion within the food and agriculture sectors in the U.S. Brands will potentially put their energy into building an organization that complements diversity and fair representation at every level.

Is your business one of participants to the Biofuel Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Commitment to Ethics & Compliance Paves Way for Petrobras

A governance model that fosters transparency, ethics, compliance and integrity has become instrumental in fostering ESG practices. Petrobras has formed an Ethics Commission to oversee compliance with the Code of Conduct of the Federal Senior Management (CCAF). It also supervises the Compliance Program through the Statutory Audit Committee with the support of the Senior Management.

Compliance risk management has gained ground to monitor, define, control and report actions as a riposte to the risks and prioritize money laundering, fraud & corruption, harassment, antitrust, conflict of interest, trade sanctions and embargoes. The organization asserts it has an independent board for the compliance program. Robust history of good governance and manufacturing biofuel ethically will enable companies to bring ESG solutions to farmers and customers.

The competitive nature of the industry indicates sustainable sourcing of products and the role of biofuels across business verticals will steer the growth trajectory. Governments exhibited resilience amidst havoc wracked by the COVID-19 pandemic. In June 2022, the USDA announced pouring USD 700 million to restore sustainable fuel markets grappling with the outbreak. Besides, the Wall Street Journal was reported to have mentioned that Archer Daniels Midland (ADM) would receive USD 50 million in U.S. aid to tone down losses during the pandemic. These ESG trends validate Grand View Research’s projected CAGR of the global biofuel market at 6.9% between 2019 and 2024.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

For more ESG Thematic reports, please visit AstraESG Solutions, powered by Grand View Research

Sunday, June 11, 2023

How the ESG Industry is Addressing Food Waste at Every Stage

Environmental, Social and Governance (ESG) strategies have become paramount to steer positive change for the planet, people, communities and other stakeholders. Sustainability has garnered headlines with measures for waste reduction, carbon emissions and higher raw material costs. The global push to boost ESG performance has compelled brands to emphasize recycling and waste management.

Notably, the adoption of the Sustainable Development Goals suggests countries' commitment to helping halve per capita food waste at the consumer and retail levels and minimize food losses by 2030. Amidst efforts to bolster food accessibility, around 687 million people go hungry each day, according to a report cited by the World Bank. In essence, the organization notes that 1.3 billion tons of food are wasted by consumers and retailers or lost along the supply chain.

Investors, shareholders and other stakeholders are emphasizing the reduction of environmental footprint. Government agencies and organizations are responding to demands for ESG reporting. The emergence and implementation of policies have made a profound difference in the industry. In August 2022, U.S. President Joe Biden inked an Inflation Reduction Act, alluding to the injection of USD 369 billion into energy and climate projects in the next 10 years. Several provisions of the Act aim to minimize greenhouse gas emissions by a billion metric tons by 2030.

Key Companies in Food Waste Management Industry

• Veoli

• Suez

• Waste Management, Inc.

• Republic Services, Inc.

• Covanta Ltd.

• Stericycle, Inc.

Discover more regarding the practices and strategies being implemented by industry participants in the Food Waste Management Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Environmental Perspective

Food waste management companies have exhibited bullish traction for ESG as they augment greenhouse gas emission- and food waste- reduction targets. Boosting sustainable practices to motivate vendor partners, stakeholders and communities can solidify the company's position in the global ecosystem. To illustrate, Albertsons Companies mentioned in its report the commitment to zero food waste going to landfills by 2030.

The American grocery company is vying to propel the reusability, recyclability and compostability of Own Brands packaging by 2025. Furthermore, it is gearing to achieve net zero emissions in its operations by 2040 and 47% carbon reduction from its operation by 2030. Prominently, the company suggested it diverted over 215 million pounds of food from landfill with the help of anaerobic digestion. Industry partners and leaders are expected to be inclined towards creating a sustainable food system, eradicating hunger and undergirding food security.

Is your business one of the participants in the Food Waste Management Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Social Perspective

Amidst the prevalence of food insecurity, an emphasis on customers' and employees' well-being has prompted industry leaders to bank on the social pillar. In doing so, stakeholders have upped their efforts on diversity, equity and inclusion to foster community engagement, augment the pool of diverse candidates, expand training and promote racial equity and social justice. For instance, in 2021, Kellogg's included Potential Severe Injury Fatality cases and rolled out EHS Insight Dashboards to offer better trends analysis of EHS data. The company claims to have no fatalities in 2021, with a global total Kellogg total reportable incident rate of 0.42.

The food company has furthered its efforts on diversity globally. For instance, as of December 2022, 25% of the 3,000 employees in Kellogg India are women. Women of Kellogg + (WOK+) has become pivotal in empowering women and advocating gender equity in the workplace. The American food manufacturing company is committed to Human Rights Campaigns Best Place to Work for LGBTQ Equality and Diversity Best Practices Index, among others. Companies are expected to embrace the commitment to diversity, equity and inclusion to deliver upsides to the communities, people and the environment.

Governance Perspective

Food waste management companies are counting on corporate governance, transparency, board diversity, corporate behavior and ethics to stay ahead of the curve. Diversity of experience, skills, backgrounds, qualifications, expertise and age will hold the key to selecting board members. Notably, in Veolia, seven out of ten directors on the Board of Directors of Environment are independent. The BoD is responsible for drafting the agenda of the annual shareholders meeting and appointing the chairman and the financial statements. The company has four committees: Research, Innovation and Sustainable Development Committee, accounts and audit committee, nominations committee and compensation committee.

Brands, such as Veolia, have made a giant stride in gender diversity to bolster their position in ESG performance. Prominently, the company has 33% women on the Executive committee and is gearing up for 25% women among Group executives by 2023. With gender diversity and professional equity gaining ground, companies are poised to create meaningful change through investments in governance.

The competitive landscape alludes to an emphasis on organic and inorganic strategies to tap into the global landscape. To put things in perspective, commitment to environmentally friendly food practices using state-of-the-art technologies may become pronounced in the ensuing period. The use of machine learning and AI could become the next big thing to reduce waste and propel sales through inventory management. Amazon asserts the Amazon Forecast has helped its customers in Greater China minimize product waste by 37%, leading to 22% cost savings across three merchandise categories and 168 stores.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

For more ESG Thematic reports, please visit AstraESG Solutions, powered by Grand View Research

Thursday, June 8, 2023

The Role of ESG in the Evolution of Smart Cities Industry

Burgeoning urbanization, technology advancements and emphasis on sustainability have opened avenues of growth in the smart cities industry. ESG policies have received an uptake as cities continue to grow in both number and population. According to the World Bank, the global urban population will surge to 6 billion by 2045. Technology advances have furthered digitization and companies expect smart cities to be catalysts for sustainable development. With cities grappling with climate change, ESG has become pivotal in complementing the applications of technologies and data to enhance city planning, accountability and engagement with citizens.

The need for action against climate change has become imperative for a low-carbon society and to implement sustainable practices across the value chain. For instance, Singapore has implemented Green Plan to minimize the waste sent to landfills by 30% by 2030, plant one million more trees and quadruple solar energy deployment by 2025.

A bullish ESG policy can provide a robust approach for stakeholders to analyze and address socio-environmental and governance challenges. In essence, strategic planning in line with national objectives, solid ESG regulation and regulatory compliance will remain critical to bolstering the brand position. For instance, real-time IoT data have become sought-after to help city governments in managing and monitoring environmental policies.

Key Companies in this theme

• ABB Limited

• AGT International

• AVEVA Group plc.

• Cisco Systems, Inc.

• Ericsson

• General Electric

Discover more regarding the practices and strategies being implemented by industry participants form the Smart Cities Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Environmental Perspective

The prevalence of greenhouse gas emissions in cities has reinforced the need to strengthen the environmental profile. According to the data cited in the UN specialized agency for ICTs, cities contribute over 70% of carbon emissions globally every year. Digital solutions, such as smart grids, have shown promising signs of reducing emissions and fostering a move towards a clean energy society. Smart grids with predictive analytics and real-time monitoring have gained traction to reduce pressure on aging infrastructure, integrate renewables and lower costs and minimize peak loads.

To illustrate, in December 2022, Siemens won a new contract for grid control and smart metering infrastructure in Egypt. The project, under the aegis of the Japanese International Cooperation Agency (JICA), is valued at EUR 40 million (roughly USD 43 million) and will implement state-of-the-art software to boost the stability, efficiency and reliability of the power grid while minimizing electricity distribution losses. Investments in smart grids could be a significant leap to implementing a sustainable practice across the value chain.

Social Perspective

While the low-carbon future is paving the way to an environmentally friendly society, social facets, including diversity & inclusion, workplace safety and employee engagement, have become invaluable to leverage social progress. For instance, in ABB, 40.5% of early talent hires were women in 2021, with revised Group-wide guidelines for flexible work practices. Strategies to underpin social performance encompassing gender, age, ethnicity and sexual orientation have become pronounced. It is gearing up to increase the proportion of women in senior management roles by two-fold (as part of its Global Diversity and Inclusion Strategy 2030).

The Switzerland-headquartered company also rolled out a gender-neutral parental leave program offering four weeks of paid leave for secondary caregivers and 12 weeks for primary caregivers. Besides, it received an employee engagement score of 74 out of 100 in its 2021 employee Engagement Survey. Moreover, over 7,600 ABB managers and other employees completed the “Interrupt Unconscious Bias” program.

Is your business one of participants to the Global Smart Cities Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance Perspective

An exponential rise in smart cities has put the spotlight on the governance pillar, including transparency, ecosystem governance, ethical practices, funding and supply chain management policies. Stakeholders are expected to focus on undergirding governance to help employees make ethical and fair decisions and provide a foundation for effective strategic leadership. For instance, AVEVA has an Audit Committee to monitor and oversee risk management & control; a Nomination and Governance Committee to review ESG, board composition and succession planning; a Disclosure Committee to decide if information should be disclosed to the market; and a Remuneration Committee to review board and senior management remuneration. In addition, the CEO regularly updates the board about the culture of wellbeing, inclusivity, developments concerning diversity, equity and inclusion and opportunity for employees and communities.

Forward-looking companies strive to achieve carbon neutrality in their operations and foster responsible business practices and social cohesion. In October 2021, The City of London chose Nextech AR Solutions to provide a mini-metaverse experience at Harmony at London Wall Place. The AR-powered interactive artwork and music exhibitions will underscore inclusion as the metaverse will provide easy access to these experiences. It is worth noting that the global smart cities market size touched USD 1,090.64 billion in 2021 and will register a 24.2% CAGR from 2022 to 2030.

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Wednesday, June 7, 2023

Mattress Industry ESG: A Comprehensive Guide

The soaring significance of environmental, social and governance (ESG) strategies has encouraged mattress industry players to boost their sustainability quotient. Reporting on non-financial information has become pronounced across business verticals. Stakeholders are poised to take a quantum leap to embed ESG considerations into their portfolios. Companies are championing sleep as an invaluable pillar to underpin the work environment and emphasize talent attraction, equity, diversity and inclusion. Amidst increased responsibilities, demanding schedules and feelings of stress, the addition of ESG pillars to help people foster positive social change and improve health and well-being could provide impetus to an equitable and fair world.

There has been a palpable trend to recycle and reuse mattresses to minimize waste from landfills. Amidst climate change creating pressure on the planet, well-established players are expected to emphasize minimizing carbon footprint, sourcing raw materials sustainably and using resources more efficiently. Strategic aspirations and priorities could take center stage to provide sustainable sleep solutions. Companies are likely to seek ESG goals to expand their physical and digital footprint and provide customers with seamless products and services.

Key Companies in this theme

• Tempur Sealy International, Inc.

• Serta Simmons Bedding LLC

• Spring Air International

• Sleep Number Corp.

• Kingsdown, Inc.

• Southerland Sleep

• Boll & Branch

• Casper Sleep Inc.

Environmental Perspective

As companies embark on the ambition to be more environmentally friendly and transparent, goals to attain carbon neutrality could receive an uptick with investments in ESG reports. A buoyant environment profile has become paramount to raising the bar for sustainability. In January 2023, Tempur Sealy International revealed its 2023 Corporate Social Values Report noting that it achieved around 3% dip in GHG emissions per unit produced at wholly-owned manufacturing and logistics operations. It kept the sustainable reporting in line with the Task Force on Climate-Related Financial Disclosures (TCFD) framework. The American manufacturer of mattresses suggested that 100% of waste was diverted from landfills from the U.S. wholly-owned manufacturing operations as of September 2022, up from 96% during the same month in the preceding year. It also bolstered its commitment to achieving zero landfill waste to include its research and development facilities and corporate offices by 2025.

Forward-looking companies are exploring opportunities to decarbonize operations and inject funds into boosting energy efficiency. To illustrate, in 2021, Sleep Country Canada rolled out a pilot project at three locations connecting AI-powered technologies to HVAC and lighting equipment at retail locations and warehouses. The company has also bolstered its efforts to minimize landfill waste under the aegis of recycling programs and mattress donations. It claims to have diverted more than 165,000 mattresses and foundations (in 2021) from landfills through recycling or donation. The Canadian retailer company claims around 91% of its mattresses and foundations have sustainable materials. It has also banked on several of its suppliers that use CertiPUR-US-certified mattress foam. The certified foam is made without flame retardants, ozone depleters, lead, mercury, phthalates, formaldehyde and low VOC emissions. Emphasis on environmentally responsible products will provide impetus to the use of sustainable materials, helping stakeholders use resources efficiently.

Social Perspective

Stakeholders are recognizing the importance of underpinning programs that can bring a paradigm shift in the way corporate philanthropy achieves social performance. Concerted effort on workforce development targeting underemployed groups, and gender discrimination management has provided tailwinds for investors, manufacturers and suppliers. Leading players are poised to observe an inclination for equity, diversity, inclusion and belonging, retaining and recruiting talented people from diverse backgrounds and creating a safe work environment. Social performance has become a vital cog in reinforcing brand value and reputation. For instance, Avocado Green Mattress, in its 2021 Impact Report, alluded to developing a nationwide network (in the U.S.) of over 1,000 nonprofit partners, such as rehabilitation centers, local women’s shelters, centers for people with disabilities and refugee centers. The company donated 90% of returned mattresses to shelters and gave away 2% of annual revenue to environmental nonprofits.

Recognizing performance has become one of the most compelling factors to offer rewards, compensation packages and learning & development training. Key players have included LinkedIn Learning in their toolkits to offer access to thousands of courses to associates. Additionally, equity, diversity and inclusion training has also spurred, creating an aura of strong growth for mattress manufacturers and suppliers. To illustrate, Sleep Country Canada noted that 98% of associates were trained on diversity, harassment and respect in the office, while 24% identified themselves as visible minority leaders. Meanwhile, Tempur Sealy propelled the percentage of U.S. employees who self-identified as a minority to 49%. The prevalence of robust and inclusive culture could place companies vying to propel their ESG portfolios in the driver’s seat.

Is your business one of participants to the Global Mattress Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance Perspective

Lately, good governance and strong ethics & compliance have come into the spotlight to ensure risk management, ESG accountability and performance. Embedding a robust culture of sustainability has become pivotal for buoyant governance standards. An emphasis on fostering corporate behavior, board diversity, anti-competitive practices, tax transparency and eradicating corruption could be the precursor of sound and sustainable governance. In April 2021, Serta Simmons Bedding promoted two major leaders and streamlined the organization’s structure. Venture capitalists, manufacturers and other stakeholders are expected to place bullish measures to address major ESG risks, such as cyber security, talent attraction and retention, reputation and shifting consumer behavior.

Integration of ESG priorities into the code of conduct has become prevalent across business verticals. Tracking and reporting of possible code violations and strengthening of cyber security could be pronounced. Companies are updating their information security policy, reporting policy and mitigating the ESG risks. Organizations are prioritizing data management and developing strategies that are in accordance with the law of the land and which can keep up with the demands of shareholders, venture capitalists and other major stakeholders.

The competitive landscape suggests industry players are likely to focus on brand strategies and develop retail partnerships. Industry-leading innovations that can provide customers with increased quality sleep could be the major selling point. To illustrate, in July 2022, Bryte raised USD 20 million under the aegis of Tempur Sealy. With mattresses being trendy, investments and revenue forecasts could be bullish. The global mattress market size is poised to garner significant gain in the ensuing period.

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Tuesday, June 6, 2023

Veterinary Medicines—a study on 50 Major Medicines with Projected Sales

The prevalence of animal diseases, disorders and illnesses has put the spotlight on veterinary medicines. Farmers and pet owners bank on drugs to keep their animal disease free and healthy. The medicine can also be used to control and monitor zoonotic diseases and maintain livestock food supply. Veterinarians also work in agribusiness to ensure a safe food supply, while also helping farmers boost their productivity.

The rising allergic disease among dogs has prompted industry leaders to inject funds into research and development programs and product rollouts. In January 2022, Zoetis announced European Commission marketing authorization for Apoquel chewable tablets for dogs. It will help treat pruritus and provide enough time for veterinarians to identify the cause of allergic disease in dogs. The database lists dogs as the most represented targeted species (65%).

The huge repository of Grand View Research includes competitive insights exhibiting forward-looking companies’ strategic approaches to bolster their market penetration in veterinary medicine. For instance, in 2021, the top four animal health products in Boehringer Ingelheim led to net sales of more than EUR 1,894 million. The final report, along with the database, will deep-dive into the following dynamics:

• Insights on molecules/active ingredients, including Lokivetmab, maleate, Amoxicillin, Selamectin, Pyrantel and Ivermectin.

• Inputs on regulatory approvals, patent information, ASP and competition from generics, among others.

• Analysis of a diverse portfolio of diagnose products and veterinary medicines. For instance, pharmaceuticals (most represented in the database) account for 72% share of the total products.

• Assessment of anti-inflammatory, antiparasitic, antibiotics and dermatology products.

Get your copy or request a free sample of the report “50 Key Veterinary Medicines with Estimated Sales, 2018 – 2022,” collated and published by Grand View Research.

Key Veterinary Medicine Report Scope

Scope	Details
Brand name	Marketed name of the Product e.g., Simparica/Simparica Trio
INN	Name of the Active Ingredient or Generic Name. The database includes Oclacitinib maleate, Lokivetmab, Selamectin, Amoxicillin, Ivermectin, Pyrantel, and others.
Molecular Weight	Weight of each active ingredient molecule in grams per mole (g/mol)
Company	Name of the Company manufacturing/ marketing the Product. The database includes leading animal health companies such as Zoetis, Virbac, Elanco, and Boehringer Ingelheim International GmbH
First Approval/ Launch Year	The year that indicates the first ever launch of the product. For example, Apoquel was first launched in 2014 by Zoetis. Note: Most of the products in the database have been launched between 2000 and 2015
Indication	Specifies approved uses of the product. For instance, the database includes products indicated for dermatitis, pain, osteoarthritis, parasitic diseases, bacterial infections, etc.
Type	Specifies the type of the product such as Pharmaceuticals/ Vaccines/ Medicated Feed Additives
Category	Specifies the category or sub-type of the product such as antiparasitic, antibiotic, anti-inflammatory, and dermatology. Anti-infective products such as antiparasitics, and antibiotics are the most dominant in the database.
Dosage Form	The database includes dosage forms such as injectables, tablets, sprays, and collars, among others.
Target Species	Dogs dominate the database in terms of target species while others include cats and cattle.
Estimated Sales	Specifies global revenue of the product in USD million from 2018 to 2022. The highest revenue generated by a product in 2021 was estimated at about USD 750 million.
ASP (in USD)	Average Selling Price per unit in line with the dosage form
Commercialized/ Available in	Regions/ countries where the product is sold
Patent/ Generics Information	Qualitative information about patents, patent expiry, and generics is provided as per the availability of information. For instance, the patents covering the commercial formulation of a product in the database expire in the U.S. in October 2023 and in Brazil in 2025.
Other Notes	Any other relevant information about the product or any recent initiative covering the product launch, upgrade, etc. For instance, Apoquel by Zoetis is the first Janus kinase inhibitor approved for use in veterinary medicine.
Deliverable Format	MS Excel/ Dashboard

Get more insights from our in-depth market intelligence report “Veterinary Medicine Market Size, Share & Trends Analysis Report By Animal Type (Production Animals, Companion Animals), By Product (Biologics, Pharmaceuticals), By Mode Of Delivery, By End-use, By Region, And Segment Forecasts, 2023 - 2030”

About Us

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

Find More information @ https://www.grandviewresearch.com/info/trend-reports

Monday, June 5, 2023

A Comprehensive Guide to ESG in 3D Printing Industry

Sustainability priorities of environmental stewardship, workers’ safety, human rights and sound governance have become pronounced in the 3D printing industry. Additive manufacturing (AM) technology and solutions are well-placed to influence global issues and foster improvements through innovations, training, education and carbon footprint reduction. 3D printing, post-COVID-19, has become a game-changer as companies seek to assess the untapped potential of additive manufacturing. Prominently, 3D printing has amassed huge popularity among manufacturers, engineers and designers to keep up with the need for responsible energy consumption. Moreover, recycling, reducing, repurposing, reusing and repairing have ushered innovation in the global landscape. Companies are expected to exhibit product improvements and complement transparency, fairness, regulated, ethical and compliant operations.

3D printed parts and products have become palpable in end-products, including athletic shoes and printed cars. Stakeholders are exhibiting traction for additive manufacturing programs and embracing the responsibility to enhance lives and protect the environment. Exponential growth in digitization and a paradigm shift witnessed in the energy transition towards renewables have redefined the 3D printing landscape. Additive manufacturing could be instrumental in aerospace, manufacturing, automotive and healthcare sectors to reduce lead time, and material cost, leverage on-site production and underpin growth with sustainability targets. Amidst surging pressure to address supply chain issues and keep up with energy efficiency needs, industry players could explore opportunities in 3D printing.

Key Companies in this theme

• Stratasys, Ltd

• Materialise

• EnvisionTec Inc

• 3D Systems Inc

• GE Additive

• Autodesk Inc

• Canon Inc.

Discover more regarding the practices and strategies being implemented by industry participants from the 3D Printing Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Environmental Perspective

A notable shift towards AM technologies could lead to less energy consumption, reduced waste, optimized and enhanced supply chains and more recycling. In July 2021, eight companies joined the bandwagon to be part of the Additive Manufacturer Green Trade Association (AMGTA) to educate and promote the green upsides of 3D printing. Similarly, in May 2022, the global trade organization announced that 20 member companies received the 2022 Sustainability Awards. AM technologies are expected to boost environmentally friendly methods of manufacturing, mainly attributed to the innate ability to manufacture closer to the point of need, minimize material consumption and redesign parts to reduce energy consumption and weight.

Pioneering products, services and state-of-the-art technologies are unlocking opportunities and measuring sustainability metrics in line with ESG goals. The trend has become prevalent and prompted stakeholders to inject funds into sustainability portfolios. In December 2020, 3D Systems announced the rollout of its ESG initiative, bolstering its commitment to leveraging AM solutions for a host of applications. Companies are poised to advocate for sustainable technologies that will help minimize carbon emissions and eradicate waste. Notably, AM uses merely the material required to produce the final part, thereby playing an invaluable role in bolstering sustainability.

Social Perspective

3D printing has come on the horizon as a vital cog in fostering employees’ health and safety and social programs, including entrepreneurship and STEAM education. In April 2022, it was reported that Stratasys offered access to dozens of 3D printers and funded the FIRST Robotics Competition for high school students. The company also introduced the “learning by making” program with Jerusalem Municipality, spanning across state-religious, independent-religious, state-secular and Arab schools. Additionally, the company was reported to be resilient amidst havoc wracked by the COVID-19 pandemic. Stratasys inferred in its 2020-2021 ESG and Sustainability Report that it reduced the work to 80% capacity till the end of 2020. It helped them do away with the pandemic-induced layoffs. The company offered mental health seminars on depression, social connections and loneliness. Besides, it organized an in-person summer camp in 2021 to provide fun and relief to the teams and their families.

Stakeholders have furthered their focus on diversity to add value for shareholders, employees and customers. In doing so, embracing diverse teams could propel an inclusive culture and complement employees’ unique identities, experiences and backgrounds. For instance, in 2021, GE updated a few voluntary self-identification categories and selections pertaining to sexual orientation and gender identity (based on employee feedback). The company asserted in its 2021 Diversity Annual Report that around 3.7% of its U.S. employees identified themselves as having a disability, while over 10% of the U.S. employees are military veterans. Amidst call for equal pay for all, GE is gearing to attain 100% pay equity in each of its businesses.

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Governance Perspective

Stakeholders demand greater traceability and transparency as companies seek to build trust with customers, communities, investors and other parties. Corporate governance has come to the fore as an invaluable pillar to running a business sustainably. Additive manufacturing companies are expected to devote attention to corporate governance policies, and guidelines and invest in data-driven products and solutions. Leading players are emphasizing independent leadership for a robust compliance and internal controls with applicable laws, policies and regulations. Notably, Autodesk infers in its 2022 Impact Report that 90% of its Board of Directors are independent, while 50% are women.

Stakeholders are counting on AI and ML to streamline the business. Forward-looking companies anticipate additive manufacturing to foster logistics systems and bolster resilience through the incorporation of environmental and social aspects. Leading players are likely to prioritize sustainability reporting frameworks to further organizations’ governance disclosure. In essence, GE offers disclosure as per SASB standards and provides climate-related disclosures in line with the TCFD framework. For instance, the organization has been disclosing how it assesses, identifies and manages climate-related risks. Meanwhile, Eaton has set an audacious target (2030 Sustainability Target) of over 50% enhancements in safety metrics, disclose U.S. minority and global gender pay equity assurance results, and ensure no human rights violation from major suppliers. It has also set report priority issues in line with TCFD and SASB requirements. The company asserted that around 65% of its net sales stemmed from sustainable solutions in 2021.

As 3D printing brings a seismic shift in the global landscape, stakeholders are gearing to augment their leadership position in ESG. In doing so, prominent manufacturers and suppliers are poised to inject funds into organic and inorganic growth strategies. To illustrate, in November 2022, Stratasys announced the pouring of USD 10 million in Axial3D, wherein both companies will render a joint offering to provide the accessibility of patient-specific 3D printing solutions for medical device manufacturers and hospitals. Prevailing trends indicate the global 3D printing market size could register an impressive CAGR of 20.8% from 2022 through 2030. Industry dynamics suggest sustainability priorities will witness an upward growth trajectory with a focus on, including but not limited to, people-first strategies, innovation, climate actions and transparency.

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