Category Archives: Resource Based Economy

Grundfos has partnered with BEC GmbH, Circularise, Minviro, and the global Rare Earth Industry Association (REIA) to lead a three-year EIT RawMaterials funded innovation project to build a blockchain based Circular System for Assessing Rare Earth Sustainability (CSyARES). This will help companies improve transparency and sustainability of their supply chains when it comes to critical and rare earth materials.

Demand for rare earth metals is skyrocketing and by 2030 it is projected to reach 315,000 tonnes1. These rare-earth metals are irreplaceable in wind turbines, electric vehicles, mobile phones, computers and the defence industry. Rising demand combined with resource shortages and supply chain disruptions means we need to rely on sustainably mined and processed metals.

The transition to a circular economy is considered crucial and governments around the world incentivise companies to uptake e-waste recycling and other sustainable practices with new regulation. As highlighted by the European Raw Material Alliance (ERMA) Action Plan, boosting supply security through better cooperation among stakeholders is a top priority. For rare earth metals suppliers, this means not only becoming more sustainable but also proving their compliance and quality criteria to customers and regulators.

Developing an innovative CSyARES is key in achieving these goals. In this project, the partnering organizations, including Grundfos aim to:*Integrate REIAs standards on assessing sustainable performance and Minviros LCA tool with Circularises blockchain software for supply chain traceability and transparency.*Allow Grundfos and BEC GmbH to test the system and business model and trace and measure the environmental impact of their supply chains. This will be conducted in cooperation with members of REIA.

This project will contribute to the circular economy transformation in the rare earth elements, electric and electronic equipment, automotive, and all other sectors that depend on rare earths. It will create new business opportunities for manufacturers and recyclers and allow downstream players to ensure sustainable practices throughout their supply chains.

Badrinath Veluri, chief specialist materials & process, Grundfos and president of REIA, said, This partnership is based on our common interest to bring transparency and sustainability to the use of these critical and rare earth materials. Through this project, we are aiming to build a tool that the parties within the rare earth value chain can use with an integrated approach and incorporate the due diligence aspects, which ultimately will allow us to increase the secondary resource efficiency and achieve a circular economy.

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Grundfos partners with four organisations to develop a blockchain based circular system for assessing rare earth sustainability - Construction Week...

HOUSTON, Feb. 8, 2022 /PRNewswire/ -- Today, Hello Alice, the largest platform helping small businesses launch and grow in America, proudly announces that 2022 will be the Year of Small Business, a movement in partnership with NAACP, U.S. Hispanic Chamber of Commerce, Global Entrepreneurship Network (GEN), and Mastercard. The Year of Small Business (YOSB) will open up equitable access to capital, direct consumer spending toward small business owners, and provide business education, networks, and opportunities to 3 million small business owners.

As small business owners continue to experience lasting challenges brought on by the pandemic, optimism remains high. The Year of Small Business movement will support and strengthen small businesses in all 50 states and across industries, igniting public support over the next 12 months and encouraging every American to buy small.

"Small business owners are the backbone of our economy, and it is time for all of us to buy small and bring our neighbor's businesses back online," said Elizabeth Gore, co-founder and president of Hello Alice. "Along with our partners NAACP, U.S. Hispanic Chamber of Commerce, GEN, and Mastercard, we're committed to providing every necessary resource, including additional access to funding, educational accelerators, and more."

In a recent Hello Alicestudy of over 400,000 small business owners*, at least 30% of those surveyed list funding as their greatest business challenge, with Black and multiracial owners reporting it at the highest rates. With a focus on the New Majority - people of color, women, LGBTQ+, entrepreneurs with disabilities and our U.S. Veterans - the YOSB initiative will include a grants program with a goal to distribute $30,000,000 in grants, utilizing Hello Alice's best-in-class grants administration process and wraparound services.

"Everyone should have the same opportunity to start and grow their own business but whether you look at long-standing systemic barriers or more recent global challenges, that just isn't the case," said Jonathan Ortmans, founder and president of the Global Entrepreneurship Network. "We are excited about this partnership and the support it will provide will allow small businesses to not only survive, but to thrive in a post-pandemic economy."

In addition to the grants program, the Year of Small Business will feature opportunities to support and spotlight small business owners throughout the year including:

"Mastercard is committed to empowering small businesses with digital solutions, data insights and tools to support their sustainable growth, and amplify the role they play as the lifeblood of our economy," said Ginger Siegel, North America Small Business Lead at Mastercard. "We're proud to partner with Hello Alice on the Year of Small Business to broaden our collective impact and celebrate the small business community."

In a survey of 2,800 Black owners on the Hello Alice platform, no group is more optimistic in expectation of growth than Black business owners, 84% predicting growth in 2022, but they continue to be faced with the challenge of raising capital. 34% of Black entrepreneurs surveyed cited this as their primary obstacle.

"Without a doubt, Black-owned small business owners continue to endure disproportionate barriers, including a lack of access to funding, and the Covid-19 pandemic has only worsened these obstacles," said Derrick Johnson, president and CEO of the NAACP. "What makes small business ownership so essential is that it provides a means of generating long-term, multi-generational wealth. Extending support to small businesses today can help bridge the racial wealth gap now and into the future."

In addition to raising capital, Hispanic owners cite challenges such as acquiring customers, hiring, and operating their business at rates significantly higher than other groups.

"Small businesses create two of every three jobs in America and they need our support now more than ever," said Ramiro A. Cavazos, President & CEO, United States Hispanic Chamber of Commerce (USHCC). Each one of us has a role to play to support our local small businesses, especially our 5 million Hispanic-owned businesses who have been hit hard."

Additional data from the recent report shows small business owners remain positive about the future despite the challenges. 79% of owners are optimistic that their business will grow in 2022, and only 2% are expecting their performance to worsen in the new year. 55% of companies plan to hire this year.

For small business owners, organizations, and corporations interested in getting involved in the Year of Small Business, please visit https://helloalice.com/the-year-of-small-business/. Please direct all media requests to Sabine Lavache, [emailprotected].

*Based on data compiled from 412,516 business owners across all 50 states.

ABOUT HELLO ALICEHello Aliceis a free, multichannel platform that helps businesses launch and grow. With a community of nearly 600,000 business owners in all 50 states and across the globe, Hello Alice is building the largest network of owners in the country while tracking data and trends to increase the success rate for entrepreneurs. Our partners include enterprise business services, government agencies, and institutions looking to serve small- and medium-business owners to ensure increased revenues and promote scale. A Latina owned company, founded by Carolyn Rodz and Elizabeth Gore, we believe in business for all by providing access to all owners including women, people of color, veterans, and everyone with an entrepreneurial spirit. To learn more, visit http://www.helloalice.com, as well as Twitter, LinkedIn, Instagram, and Facebook.

ABOUT THE NAACPFounded in 1909 in response to the ongoing violence against Black people around the country, the NAACP (National Association for the Advancement of Colored People) is the largest and most pre-eminent civil rights organization in the nation. We have over 2,200 units and branches across the nation, along with well over 2M activists. Our mission is to secure the political, educational, social, and economic equality of rights in order to eliminate race-based discrimination and ensure the health and well-being of all persons.

NOTE: The Legal Defense Fund also referred to as the NAACP-LDF was founded in 1940 as a part of the NAACP, but separated in 1957 to become a completely separate entity. It is recognized as the nation's first civil and human rights law organization and shares our commitment to equal rights.

ABOUT THE UNITED STATES HISPANIC CHAMBER OF COMMERCEThe United States Hispanic Chamber of Commerce (USHCC) actively promotes the economic growth, development, and interests of 5 million Hispanic-owned businesses, that combined, contribute over $800 billion to the American economy every year. The USHCC is America's largest small business advocacy group, representing more than 260 local chambers and business associations nationwide, and also partners with hundreds of major American corporations. For more information, please visit ushcc.com. Follow us on Twitter @USHCC.

ABOUT MASTERCARD (NYSE: MA)Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

http://www.mastercard.com

ABOUT GLOBAL ENTREPRENEURSHIP NETWORKThe Global Entrepreneurship Network operates a platform of projects and programs in 180 countries aimed at making it easier for anyone, anywhere to start and scale a business. By fostering deeper cross border collaboration and initiatives between entrepreneurs, investors, researchers, policymakers and entrepreneurial support organizations, GEN works to fuel healthier entrepreneurial ecosystems that create jobs, accelerate innovation and strengthen economic growth. For details on the programs and initiatives that make up GEN, visit http://www.genglobal.org, as well as Twitter, LinkedIn, Instagram and Facebook.

CONTACT: Hello AliceSabine Lavache[emailprotected]

SOURCE Hello Alice

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HELLO ALICE LAUNCHES THE YEAR OF SMALL BUSINESS, A MOVEMENT IN PARTNERSHIP WITH NAACP, US HISPANIC CHAMBER OF COMMERCE, GLOBAL ENTREPRENEURSHIP...

Across industries, the great cleanup is underway. Driven by tightening regulations, pressure from investors, and shifting customer preferences, companies are striving to reduce the burden of their activities on the planet. This quest for sustainability requires action on many fronts, with changes to supply networks, manufacturing processes, and business models. Companies are also rethinking how their products are designed, engineered, and used, looking for ways to meet performance and quality requirements while using fewer resources across the full life cycle of everything they make.

Two factors are pushing design up the sustainability agenda. The first is technological: an ongoing shift of lifetime emissions from product operation to product production. The shift is partly thanks to user demand for extra features and capabilities that require additional materials to deliver. But its also because technical changes designed to promote efficient operation tend to involve additional product complexity. For example, domestic heat pumps require more materials than the gas or oil boilers they replace. Compared with their energy-hungry predecessors, high-efficiency electric motors may contain additional carbon-intensive materials, including extra copper and rare-earth magnets. The variable-frequency drives that are used to optimize the control of these advanced motors need their own circuitry and semiconductor components.

Perhaps the highest-profile example of this shift is the transition from internal combustion engines to electric propulsion, which is reshaping the life-cycle emissions profile of passenger vehicles. One study found that about 20 percent of the carbon generated by a diesel vehicle comes from its production, with most of the remaining 80 percent emitted at the tailpipe. An equivalent electric car, by contrast, produced fewer emissions in the use phase but required additional carbon-intensive materials in the battery. If electricity for the vehicle came from fossil fuels, productions share of lifetime emissions would rise to 45 percent. If the vehicle were charged using only renewable energy, production emissions would account for 85 percent of the total (Exhibit 1).

Exhibit 1

The second reason for increased scrutiny on design sustainability is the recognition that the design phase is typically the most powerful and cost-effective point to address the resource footprint of future products and services. Companies have long known that design decisions determine most of a products manufacturing, operating, and maintenance costs. The same logic applies to sustainability. Our analysis suggests that while R&D accounts for 5 percent or less of the total cost of a product, it influences up to 80 percent of that products resource footprint.

Design affects sustainability in multiple ways. Products with greenfield design for sustainability may use less material or replace high-footprint virgin materials with lower-impact recycled or biologically based alternatives. Swiss sports-shoe company On, for example, has developed a fully recyclable shoe made from bio-based synthetic materials. Instead of simply selling the product, the company offers a subscription model for consumers. Worn-out shoes will be sent back to the manufacturer for disassembly, with the consumer receiving a new pair in return.

Companies have long known that design decisions determine most of a products manufacturing, operating, and maintenance costs. The same logic applies to sustainability.

Design decisions can also determine how easily a product can be repaired, upgraded, remanufactured, or recycled at end of life. Consumer-electronics company Fairphone uses a modular design for its devices, with the aim of eliminating planned obsolescence by allowing components to be replaced by the user if they fail or become outdated.

Leading organizations are already achieving impressive results by focusing the effort and ingenuity of their R&D teams on the sustainability imperative. For many R&D functions, however, a key challenge is finding ways to meet new demands for enhanced sustainability alongside the ongoing need to control costs, meet new customer needs, and differentiate their products from those of their competitors.

Executives tell us that the ability to manage this additional complexity represents the next frontier in the development of high-maturity R&D organizations. Of course, some companies have already made step-changes in their capabilities in recent years. For example, traditional design-to-cost methodologies have evolved into todays design-to-value (DtV) approach, with its focus on the cost-efficient delivery of the features that matter most to customers. And more and more businesses have also made great strides in digitization, using new tools and data sources to accelerate the product-development process and improve its outcomes.

Design for Sustainability (DfS) extends and expands these approaches, requiring organizations to adapt their existing tools, adopt new ones, and upgrade both the infrastructure and capabilities of the R&D function (Exhibit 2).

Exhibit 2

To achieve DfS at scale, companies can address three interrelated elements in the R&D function. First, how will they rethink the way their products use resources, adapting them to changing regulations, adopting circularity principles, and making use of customer insights? Second, how will they understand and track the emissions and cost impact of design decisions to achieve their sustainability ambitions? Third, how will they foster the right mindsets and capabilities to integrate sustainability into every product and every design decision? Lets look at each of these elements in more detail.

The biggest opportunities to improve sustainability often come from changes in the wider value chain that surrounds a product. Leading companies take a holistic perspective on sustainability, examining the way products are transported, packaged, handled, and usedand what happens to them at end of life. They talk to and observe customers, suppliers, and other stakeholders in the value chain, then they use the resulting insights to generate creative improvement ideas.

One quick-service-restaurant company, for example, wanted to reduce the amount of packaging waste generated by its stores. When the design team looked at the complete value chain, it found that a significant fraction of that waste was generated by the intermediate packaging that protected products in transit from factory to store.

That inspired a complete redesign of the packaging value chain. The company developed an aesthetically pleasing, resource-efficient, and recyclable package that could protect products all the way from production to the customers hands. Individual products were then consolidated in lightweight, reusable, and returnable containers to protect them in transit. Those changes helped the company reduce total packaging waste by 18 percent, with less of that waste going to landfills. The company also cut overall supply-chain greenhouse-gas emissions by a third.

Sustainable design is fraught with complexity and trade-offs. Substituting recycled material for virgin material might at first appear to reduce the carbon footprint of a productbut transportation emissions might outweigh any gains if recycling plants are concentrated in far-off locations. To make decisions such as these, design teams need good data on the environmental footprint, costs, and risks associated with different materials and manufacturing options. And they need effective tools that allow them to analyze different options quickly and accurately.

Such tools are now becoming available. Resource cleansheets, for example, extend the cleansheet cost-modeling methods that mature organizations already use to support the design and procurement process (Exhibit 3). By including greenhouse-gas emissions into their bottom-up models of products and processes, companies can compare different design, manufacturing, and supply-chain options. Or they can benchmark their current approaches against the best available to identify the biggest improvement opportunities.

Exhibit 3

Because resource cleansheets also include cost data for materials and manufacturing steps, companies can use them to find winwin opportunities that simultaneously reduce costs and associated emissionsor at least to compare the relative value of options that improve the products environmental footprint but cost more.

Combining rigorous, granular analysis with creative thinking can unlock solutions that deliver the combination of better environmental performance, lower costs, and greater customer value. One major footwear company, for example, used this approach to redesign the packaging for its entire product range. Optimizing the box design, switching to recycled cardboard, and reducing the print area and number of colors helped it cut the carbon footprint of the boxes by almost half. Those changes also delivered a cost reduction of almost 20 percent. Choosing to reinvest some of those savings into a switch from oil-based printing inks to a bio-based alternative would generate a further 9 percent carbon-footprint reduction (Exhibit 4).

Exhibit 4

The work also revealed that the organizations policies had a real impact on packaging-related emissions. The special tooling used to manufacture some packaging types was responsible for a significant fraction of their carbon footprint, and frequent changes to packaging design meant that these tools were often discarded long before the end of their useful life. Simply retaining the same designs for longer generated a big cut in both costs and carbon emissions.

The third piece of the puzzle involves developing organizational structures, resources, and capabilities to support DfS efforts across the whole R&D function (Exhibit 5). One common concern expressed by R&D leaders is that they struggle to execute the potential sustainability improvements that they identify. Engineers typically lack the tools to assess and prioritize different ideas or the knowledge to incorporate them into a product.

Exhibit 5

To overcome these stumbling blocks, many companies find it useful to establish a focal point for their effortseither a center of excellence that supports the sustainability program across the function or dedicated sustainability champions working within business units. The center of excellence takes responsibility for the introduction of new tools, such as resource cleansheets, and for acquiring and maintaining the data needed to support effective decision making on sustainability topics. It will also work with leaders in the wider R&D function to build sustainability into the organizations formal R&D processes.

To help R&D staff use the new tools and processes effectively, companies will likely need to invest in capability building, from introductions to sustainability topics for senior managers to in-depth training on life-cycle analysis and resource cleansheeting for design and engineering personnel.

Finally, organizations need to track the progress of the sustainability efforts and embed them into their R&D performance-management systems. That calls for changes to metrics, targets, and incentive systems, all aligned with the sustainability goals of the wider business.

The transition to a sustainable economy requires products that are designed differently, made differently, and used differently. The teams designing those products will need to be set up differently too. Leading organizations are already beginning that transformation, raising the maturity level of their R&D functions with new skills, processes, tools, and mindsets.

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Product sustainability: Back to the drawing board - McKinsey

NEW YORK, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Dark Pulse, Inc. (OTC Markets: DPLS) (DarkPulse or the Company), a technology company focused on the manufacture, sale, installation, and monitoring of laser sensing systems based on its patented BOTDA dark-pulse sensor technology (the DarkPulse Technology) which provides a data stream of critical metrics for assessing the health and security of infrastructure, announces a key partnership with The Everglades Foundation. The Everglades Foundation works to protect and restore Americas Everglades through science, advocacy, and education and envisions an Everglades with abundant freshwater for consumption, enjoyment, ecological health, and economic growth for generations to come.

The Everglades Foundation is doing critical work not only for Florida but for our entire ecosystem, they are driven by science and passion, stated DarkPulse Chairman and CEO Dennis OLeary. We all should be concerned about the condition of the Everglades, and DarkPulse is proud to join the Foundation in the restoration of these irreplaceable wetlands.

For most of history, that massive rain-fed series of wetlands, lakes, and rivers we call the Everglades flowed from just below Orlando and through Lake Okeechobee south to the tip of the Florida peninsula, as well as east and west towards the coasts. More than a centurys worth of extensive urban and agricultural development has not only reduced the wetlands size in half, but fertilizer from upstream agricultural areas has polluted the water, degraded the ecosystem and harmed wildlife in the remaining Everglades.

Nutrient pollution, displaced species, urban and agricultural development, and rising sea levels all threaten ecosystem balance as the Everglades are starved for freshwater. DarkPulse will deploy technology into environmentally sensitive areas including dam and levy monitoring for the Everglades critical watershed areas and provide natural resource management planning, impact evaluation, habitat analysis, and monitoring.

We are honored to welcome Mr. Dennis OLeary and the DarkPulse family into The Everglades Foundations Chairmans Advisory Council, said Eric Eikenberg, CEO of The Everglades Foundation. Organizations like DarkPulse who share our belief in a sustainable Everglades are critical to our success, and we are grateful for their shared passion and support for the future of this vital ecosystem.

About the Everglades Foundation

The Everglades Foundation is a 501(c)(3) non-profit dedicated to restoring and protecting the greater Everglades ecosystem through science, advocacy, and education. Since its founding in 1993 by a group of local outdoor enthusiasts, The Everglades Foundation has become a respected and important advocate for the sustainability of one of the worlds most unique ecosystems. For more information, please visit EvergladesFoundation.org.

About DarkPulse , Inc.

DarkPulse, Inc. uses advanced laser-based monitoring systems to provide rapid and accurate monitoring of temperatures, strains and stresses. The Companys technology excels when applied to live, dynamic critical infrastructure and structural monitoring, including pipeline monitoring, perimeter and structural surveillance, aircraft structural components and mining safety. The Company's fiber-based monitoring systems can assist markets that are not currently served, and its unique technology covers extended areas and any event that is translated into the detection of a change in strain or temperature. In addition to the Companys ongoing efforts with respect to the marketing and sales of its technology products and services to its customers, the Company also continues to explore potential strategic alliances through joint venture and licensing opportunities to further expand its global market position.

For more information, visit http://www.DarkPulse.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our prior filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Media contact:

DarkPulse, Inc.

doleary@DarkPulse.com

1.800.436.1436

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DarkPulse, Inc. Announces Partnership with the Everglades - GlobeNewswire

Most of us forget about our waste once it is discarded into dustbins or municipal garbage trucks. Municipalities and waste management companies are only at the tip of an iceberg the formal waste sector funded, regulated and managed by local governments. This sector is involved with all kinds of waste: organic, inorganic, domestic, hazardous, horticultural refuse, and construction debris, among others. They are responsible for the collection, transport, recycling, and the appropriate disposal of waste which they often execute directly or via an external vendor.

Ideally, the segregation of waste into recyclables and non-recyclables should be done at source by the households, residential areas, or business centres that generate waste. Paper, metal, and glass have long been salvaged as they have good potential for recycling. Plastic is the new material that needs immediate attention. While polyethylene terephthalate or PET has a fair recycling value with the plastic-to-textile industry creating high demand, other commonly used plastics have little to no value and are often discarded. Hence, this plastic often reaches landfills, where it is incinerated or buried. Many chemical additives from these plastics leach into the soil and the surrounding ecosystems, often finding their way into rivers and marine ecosystems.

In much of the developing world, as in India, recovering recyclable waste between source and landfill is expensive, tedious and labour-intensive. This gap in the waste ecosystem is filled by the informal sector. This informal sector is a near-invisible, shadowy waste economy that we rarely acknowledge or appreciate, because it falls outside the purview of the formal system.

The informal sector, often concerned with inorganic waste, has many players. Waste pickers collect and segregate recyclable waste from residential areas, and are incentivised by the chance to earn a livelihood from it. They then sell the waste to small scrap dealers or kabadiwallas. The scrap dealers further segregate the waste and sell it to a (Level 2) small or medium aggregator. From here, it is carted off to a wholesaler or stockist, and finally, to specific recycling units.

In India, many national policies have recognised the role of the informal sector, mainly waste pickers, and have expressed value in their inclusion in the waste ecosystem. Yet waste pickers face other challenges while operating within the formal waste economy: outsourcing of waste management to private companies, waste-to-energy plants touted as alternatives to recycling, and urban zoning plans that do not factor in the infrastructure requirements of waste management. Importantly, waste pickers at the frontline of the informal sector work in challenging, often unsanitary conditions that affect their health. They also face uncertainty due to fluctuating market prices of recyclables.

Over the decade, grassroots organisations around the country have been working with waste pickers, in a bid to integrate them into the waste economy. Among these are Kabadiwalla Connect (Chennai), Hasiru Dala (Bengaluru), and Chintan (Delhi) that have emerged as waste management solutions and there are a few lessons that can be learnt from them.

Every year, Chennai generates over 1,30,000 tonnes of waste, of which plastic accounts for 10-15,000 tonnes. It is a huge challenge for the municipality to implement waste segregation at source. Hence, most of the waste, including 10-15% of which can be recycled, ends up in landfills. City authorities spend $200,000 (approximately Rs. 15 million) every day to collect the waste and transport it to the Pallikaranai and Kodungaiyur landfills, states Siddharth Hande, CEO of Kabadiwalla Connect, a Chennai-based initiative for decentralised waste management.

If cities across India are keen on optimising their resource recovery and recycling in the future and finding solutions to plug the leak of plastics into our oceans, integrating the formal and informal waste sectors will be crucial, adds Hande.

Hande also shares that the informal waste system helps Chennai collect roughly 20% of its recyclable waste, over 100,000 tonnes annually. By linking networks of waste pickers and scrap shop owners, he says he believes that almost 70% of the waste being sent to landfills could be diverted.

Kabadiwalla Connect helps leverage the citys existing informal waste infrastructure in the collection, segregation and processing of post-consumer waste, with the help of innovative, technology-based solutions. Its inclusive, cost-efficient, and industry-compliant solutions harness the untapped resource of the informal sector in the supply chain, reduce the health risks faced by waste pickers, and pay rich dividends while tackling plastic waste at urban, and semi-urban levels.

In the informal sector, we rarely talk of the stakeholders beyond waste pickers. Yet there is a nexus of scrap dealers or kabadiwallas, aggregators, wholesalers and recyclers, that are an essential part of the waste ecosystem. This lack of classification is key to the problem of integrating the formal and informal sectors, explains Hande.The involvement of upstream stakeholders of the value chain, such as plastic manufacturers and retailers is needed to bring about an integration of the waste ecosystem.

In Bengaluru, the informal waste ecosystem is much the same the door-to-door collection of waste is done by the municipality, or waste pickers, and is deposited at dry waste collection centres, where it is sorted for recycling. Paper, metal, glass, cloth, and plastics are usually recovered, with plastics like tetra packs, which are technically recyclable but have a poor market value, sent off to waste-to-energy plants or as fuel for cement kilns.

Since 2011, Hasiru Dala has been working to bridge the gap between waste workers and other stakeholders, such as the local governments, policymakers, and citizens, while improving the lives and livelihoods of waste pickers. Bengaluru with over 35,000 waste pickers and itinerant buyers, has approximately 3,500 tonnes of plastic traded in the informal economy every single day rescuing it from landfills, incineration sites and water networks. In 2021, Hasiru Dala actively worked with over 40 wards in the city, and their dry waste collection centres handled a total of 13,656 metric tonnes (T) of waste, of which 4,097 T was recyclable, and 9,559 T was non-recyclable waste.

Often plastics that can be recycled, such as food containers, arent washed properly, and hence, have to be discarded. Working with residents and encouraging them to put in the effort to clean food-related waste, often discarded improperly due to convenience, is essential, says Rohini Malur, Communications Manager at Hasiru Dala. Putting the onus of cleaning and segregation on households reaps benefits further up the waste ecosystem, as lesser waste, especially plastic, ends up at the highly polluting waste-to-energy plants, she continues.

The pandemic adversely affected the entire informal waste ecosystem, and as single-use plastic consumption soared, recovery and recycling couldnt keep pace. Waste pickers are essentially daily wage workers, and restricted mobility affects their ability to collect recyclables and earn a livelihood. With waste pickers clocking fewer hours, there was lesser income for scrap shops too. There were months during the first wave when the entire recycling industry shut down. Dry waste collection centres were deemed essential services, yet scrap shops and godowns were not, and had to close down. Collection centres stayed open during the lockdowns yet they had nowhere to send the aggregated waste, causing the waste economy to stagnate. Workers struggled to get by as they could collect but not sell the recovered recyclable waste, payments from the authorities were often in arrears and they had little to no savings to fall back on.

It is crucial for grassroots organisations to amplify the messages of other efforts across India if we are to see a bigger shift in our waste management practises and to realise how vulnerable and essential these waste warriors are, Malur adds.

Every day, Delhi produces 12,350 tonnes of solid waste, most of which ends up at three major dumpsites: Ghazipur, Bhalaswa, and Okhla. The city has an estimated 40,000 waste pickers, with other recyclers, itinerant buyers, small and large kabadis, re-processors and other waste workers adding to a total of a 1,50,000 strong informal sector. They collect 15-20 per cent of Delhis total waste (in terms of weight) and 55% (in terms of volume) and recycle about 2,000 tonnes of the citys waste each day. As in other cities, much of this recycling happens due to the toil of waste pickers.

In addition, as unsegregated waste accumulates at landfills, rotting wet waste releases methane a highly combustible gas. This results in spontaneous combustion of waste, with plastics, among other hazardous, polluting materials being set on fire. Sometimes, waste is incinerated at landfills before being buried. This adds significantly to Delhis air pollution issues. Waste pickers can help Delhi tackle some of its air pollution problems by diverting waste from reaching dumping sites.

As a partner of the CounterMEASURE initiative under the United Nations Environment Programme, funded by Japan, Chintan Environmental Research and Action Group (Chintan) strives for better waste recovery between source and landfills. Their work with waste pickers ensures lesser plastics end up in the Yamuna, and further downstream into the Ganges, and the Bay of Bengal. In 2018, Chintans report titled Wastepickers: Delhis Forgotten Environmentalists, highlighted the role of the informal sector in tackling the burgeoning problem of waste management and plastic pollution.

Ironically, Delhis Master Plan 2041 talks in detail about solid waste management and environmental pollution, yet doesnt make provisions for the labour involved, nor for the space and infrastructure they require, says Shruti Sinha, Manager of Policy and Outreach at Chintan. Recently, many dhalaos (large three-walled concrete structures used by waste pickers to collect garbage from a locality or market), have been put to alternate use. A study by Chintan in 2021 found that 73.8% of waste pickers do not have access to sheltered spaces, which makes it difficult to work through monsoon and winter, Sinha continues.

The Chintan report advocates establishing partnerships between the informal and private sectors, as well as the public, legitimising the informal workers, developing waste management protocols, and training and monitoring waste workers. This would ensure they can operate effectively in their niche while performing key environmental roles.

The CounterMEASURE initiatives are committed to identifying sources and pathways of plastic pollution and finding solutions to prevent city-sourced plastic from reaching rivers and oceans. Working at the grassroots level with stakeholders in the waste economy, is an effective way to raise awareness about source segregation to reduce mismanaged waste, as well as build on existing knowledge to inform policy decisions.

The 2021 report titled Waste-Wise Cities published by the Centre for Science and Environment (CSE) and Niti Aayog, inspected solid waste management initiatives in 28 cities to understand the mechanisms that worked best. Across cities, grassroots initiatives concur that the integration of the informal and the formal sector is an effective solution for waste management. The report found that decentralised systems and public-private partnerships would be ideal for India to achieve its smart cities objectives.

City planners and municipal organisations should take cognisance and find ways to integrate the waste ecosystem. This would not only ensure better living and working standards for the informal sector but also incentivise their role in last-mile resource recovery and recycling, while providing cities with a decentralised, cost-efficient blueprint for waste management.

Read more: [Explainer] The cost of plastic waste

Banner image: Kabadiwallas are among many players in the informal sector a near-invisible, shadowy waste economy that we rarely acknowledge or appreciate. Photo by Bijay Chaurasia/Wikimedia Commons.

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PlastiCities: the role of grassroots initiatives in managing waste in cities - Mongabay-India

Paris, February 02, 2022 TotalEnergies and Veolia have signed an agreement to produce biomethane from Veolia waste and water treatment facilities operating in more than 15 countries.

The partners will develop and co-invest in a portfolio of international projects, with the ambition to produce up to 1.5 terawatt-hours (TWh) of biomethane per year by 2025. This production of renewable gas made from organic waste will be equivalent to the average annual natural gas consumption of 500,000 residents and will avoid some 200,000 tons of CO2 per year. TotalEnergies will market the resulting biomethane as a renewable fuel for mobility or as a substitute for natural gas in other uses.

As part of this agreement, the partners will pool their industrial know-how in biomethane production. Veolia will provide its expertise in the production and processing of biogas from its facilities, and TotalEnergies will contribute its in-depth knowledge of the entire biomethane value chain.

"We are pleased to partner with Veolia to promote the recovery of waste through the production of biomethane, and thereby the circular economy, one of the pillars of sustainable development," said Stphane Michel, President Gas, Renewables & Power at TotalEnergies. "The development of biomethane is part of TotalEnergies' transformation into a broad energy company, and the deployment of its ambition to be a major player in renewables."

"Our partnership with TotalEnergies is in line with Veolia's strategy to develop solutions for decarbonizing the energy mix, notably with biogas, as part of an ecological transition," said Estelle Brachlianoff, Chief Operating Officer of Veolia. "At the global level, the biogas resources at our sites offer more than 6 terawatt hours of primary energy. With this biomethane production potential and our know-how in biogas management, Veolia intends to become a leading player in the value chain while developing more decentralized and local green energy production capacity."***

TotalEnergies and BiomethaneTotalEnergies is the segment leader in France, with close to 500 GWh of production capacity, and aims to become a major player in biomethane internationally by partnering with market leaders such as Clean Energy in the United States. The Company is active across the entire biomethane value chain, from project development to marketing of biomethane and its by-products (biofertilizers, bioCO2). It aims to produce at least 2 TWh of biomethane per year by 2025 equivalent to the annual consumption of 670,000 French consumers and a reduction in CO2 emissions of 400,000 tons.

About TotalEnergiesTotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

TotalEnergiesContacts

Veolia and biomethaneVeolia is now one of the world's largest producers of energy from biogas, with a primary energy resource of nearly 6 TWh. As a world leader in ecological transformation, Veolia aims to maximize the recovery of biogas in the form of biomethane and to expand its global resource base, in a circular economy approach. The Group's ambition is to become one of the leading players in the biomethane sector and to develop more green energy production capacity to help combat climate change.

About de VeoliaVeolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 179,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2020, the Veolia group served 95 million inhabitants with drinking water and 62 million with sanitation, produced nearly 43 million megawatt hours and recycled 47 million tonnes of waste. Veolia Environment (Paris Euronext: VIE) achieved consolidated sales of 26.010 billion euros in 2020. http://www.veolia.com

Veolia Contacts

TotalEnergies on social media

Cautionary NoteThe terms TotalEnergies, TotalEnergies company or Company in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words we, us and our may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorit des Marchs Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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TotalEnergies and Veolia Join Forces to Accelerate the Development of Biomethane - Total

Without the economic and scientific infrastructure necessary for innovation, it has continued to rely on the colonial development model of resource extraction, which is both unsustainable and largely responsible for its debilitating poverty and aid dependency, write Ameenah Gurib-Fakim and Landry Sign.

Theyre not talking about Louisiana, but the deeply economically troubled continent of Africa. The Brookings Institution scholars Gurib-Fakim is the former president of Mauritius pose a fundamental challenge not only for the African continent but also for Americas Bayou State.

Louisianas economy has been based on extraction, some of which was sustainable with good practices in agriculture and timber, for example. But the fabulous wealth and continuing benefits of oil and gas extraction and refining may not be sustainable in present forms in the 80 years ahead in this century.

And the phrase aid dependency really stings, as Louisiana has required much-needed federal aid after natural disasters, but also for day-to-day funding of medical care and other necessities for our relatively poor population.

What is the answer? No secret at all. The economic and scientific infrastructure necessary for innovation has been here for many years, since LSU and Tulane universities opened their doors in the 19th century.

Louisianas network of higher education institutions, public and private, require strong financial assistance from government to make research viable in a highly competitive world market for scientists and their knowledge.

No one is more aware of that than William F. Tate IV, president of LSU.

When The Advocate and The Times-Picayune convened a panel of state leaders to talk about the economy, Tate pushed research that can lead to new technologies and businesses.

He said higher education research leads to a roughly $600 billion impact on the U.S. gross domestic product annually. LSUs GPD output is about $6 billion each year.

But he noted that LSU is falling behind Southeastern Conference peers such as the University of Georgia and University of Kentucky in reaping the benefits of investing in research.

The newly installed president of the statewide system of LSU institutions, including its medical schools and the Pennington Biomedical Research Center, highlighted five areas for research investment: agriculture and biotechnology, cyber security, ocean and coastal science, carbon capture technology and cancer research.

Funding those five areas would really change what is happening here and really keep more people in this state to work, he said.

We dont know what should be the most urgent focus of research investment, but clearly outside fundingof philanthropists and more state government support is necessary above simply growing undergraduate enrollments for tuition dollars.

In a flush budget year, Louisiana is in a position to do more for research funding. Gov. John Bel Edwards proposed and the Legislature has received reasonable plans for a university faculty pay raises and boosted support for research institutions. But those investments have proven in the past to be too changeable, reduced as the budgets fortunes have waned.

If we want to play in the same league as states that have won the mindpower sweepstakes in the last century North Carolina and Texas as well as Georgia among them we shall have to invest in the knowledge economy consistently and heavily.

We need a strongly built foundation of our own economic and scientific infrastructure necessary for innovation.

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Our Views: Mindpower is where Louisiana ought to invest - The Advocate

There aren't many whose name becomes part of the mythology of a nation while they are still alive. Gavin McCrone, author of After Brexit: The Economics of Scottish Independence, has inadvertently achieved this status.

McCrone is an academic and a former chief economist to the Scottish Office. In 1974, he wrote an internal briefing paper for Scottish ministers outlining the economic potential of North Sea oil. McCrone thought ministers were underestimating the value of the resource and the positive impact it could have on the economy if extraction were managed successfully. His paper was designed to remedy that ignorance and was framed from a Scottish perspective and in the context of nationalist arguments for independence. As he states in After Brexit:

'There have been suggestions in the press that my paper was suppressed or in some way hushed up. This was not so. It was a confidential briefing for Ministers and never intended for publication, just as other briefing papers for Ministers are confidential.'

When, in 2005, the Scottish National Party (SNP) used freedom of information laws to make the paper public, the myth of the 'McCrone Report' was cemented. This was no bland document designed to chivvy an incoming government into ensuring an impending oil boom was sufficiently taxed. No, this was the smoking gun proof that Scotland had been betrayed through subterfuge and conspiracy.

'For decades Westminster have suppressed and oppressed Scotland in many ways. The McCrone report is just one example,' commented SNP MP Hannah Bardell in 2019, when Scottish independence supporting newspaper the National made a splash of the report.

This kind of preposterous myth-making must be kept in mind when reading McCrone's book. For today's Scotland is a land of many myths, where economic facts not helpful to the nationalist cause are regularly dismissed as either untrue or unimportant. After Brexit calmly and objectively takes readers through the key economic aspects of secession. In doing so, and in the matter-of-fact way it deals with economic reality, it almost feels like an act of subversion.

Written for the lay reader, McCrone presents a post-Brexit update on his 2013 book, Scottish Independence: Weighing Up the Economics. Currency, deficit, debt, pensions, mortgages, the border with England, and the European Union, are all dealt with. The book also provides a state-of-the-nation summary of Scotland's challenges across health and social care, education, and in stewardship of the broader economy. This is a useful summary irrespective of the constitutional question.

Perhaps the most often discussed independence topic is currency. It is now widely accepted that Alex Salmond and Nicola Sturgeon made a tactical error in 2014 by assuming an independent Scotland could be part of a formal monetary union with the remaining UK. When London rejected that proposal for sound economic reasons, the nationalists were snookered. Having learned that lesson, the SNP's current currency position is to unofficially continue to use sterling outside the formal sterling area, much in the same way Montenegro uses the euro without the agreement of the eurozone or the European Central Bank. It is envisaged this 'sterlingisation' arrangement will last a considerable period. The SNP would then plan to launch a new Scottish currency if the economic conditions merited it.

McCrone sees the danger in this. Figures show that an independent Scotland would start life with a classic twin deficits problem. The country would be importing more than it is exporting and spending more money than it is generating in tax. It would therefore have unsustainably large current account and budget deficits.

'In the short term, even if taxes were raised or public expenditure cut, Scotland would have to borrow to finance both of these deficits,' notes McCrone. But as a new borrower with no long record of credibility like the UK, Scotland would 'have to pay considerably more on its borrowing'.

'Interest rates would be in danger of constantly increasing in a vicious circle, resulting in eventual collapse,' he warns.

McCrone therefore believes an independent Scotland would need its own currency, which should float freely at first. The new currency would almost certainly devalue heavily against the pound sterling, thereby making the economy more competitive and alleviating the deficits problem. Once the new currency has established its own market rate reflective of the needs of the economy, McCrone recommends it is then pegged to either the pound or the euro for stability purposes.

This could create other difficulties, however. The higher interest rates that secession would lead to would, of course, be reflected in Scottish mortgage rates. Not only would that debt be more expensive, but if a new currency were introduced then hundreds of thousands of households with mortgages would suddenly have foreign exchange risk to deal with. And with the new currency most likely to fall substantially against the pound in response to the state's macroeconomic imbalances, the result would be people's monthly mortgage payments shooting up.

One criticism of the book is that it could provide more depth on some of these topics. For example, McCrone's advocacy of a currency peg leads naturally to thoughts of what level of reserves would be required to maintain that peg, and how those reserves would be built up, but that discussion is missing. That said, the punchy way in which McCrone skips across the key concerns makes for a lively read, which more than compensates for the lack of additional enquiry.

On the EU, McCrone is not a fan of an independent Scotland applying for membership, and makes the case instead for becoming part of the European Economic Area (EEA). Critically though, this would still require a hard border with England. With the vast majority of Scottish trade tied to the rest of the UK, this would be a repeat of Brexit's economic damage but on a larger scale.

There is a sense in reading McCrone's book that, in the aftermath of a Brexit he clearly disagrees with, he would like to warm to the idea of Scottish secession. His propensity for rational, evidence-based analysis however prevents him from going there. In his conclusion, he states:

'The upheaval caused by leaving the UK would undoubtedly be major and costly it might well result in a fall in living standards for several years and significant inflation. It is not clear that this is understood even by those who seek independence.'

Indeed. Scotland's economic myths are plainly not for McCrone. His book should be a must-read for those susceptible to the carefully contrived post-truth narratives of Scotland's current party of government. Instead, McCrone's non-partisan analysis will likely see him subject to personal attack and his valuable work disparaged. Such is the way in modern Scotland.

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The book that shatters the SNP's economic myths - Spectator.co.uk

Acting Prime Minister and Minister for Economy, Aiyaz Sayed-Khaiyum and Unity Fiji Leader Savenaca Narube.

Acting Prime Minister and Minister for Economy, Aiyaz Sayed-Khaiyum says Unity Fiji Leader, Savenaca Narube who is rolling out his credentials saying he is correct as he is an economist, has been proven wrong time and time again and is selective about the data that is readily available on the International Monetary Fund and Reserve Bank of Fiji websites, however Narube says no amount of rhetoric by Sayed-Khaiyum will diminish his economic and financial qualifications and experience.

In a press conference yesterday, Sayed-Khaiyum said that Narube has simply come back with his qualifications as he has got his projections wrong.

Sayed-Khaiyum says Narube initially ignored the uncertainty posed by COVID-19 and was quick to pick the downward revision of the growth forecast from -4 percent to -21 percent from 2020 but did not talk about an upward revision of the 2020 growth from -21 percent to -15.2 percent.

The Minister for Economy says Narube has questioned the independence of the RBF and the Macroeconomic Committee who produced the forecast.

Sayed-Khaiyum says when it suited Narube, he used the forecast and when it didn't, he said they were not independent.

The Minister for Economy then said that Narube has been saying that he is the only Permanent Secretary for Finance to have a surplus budget.

Sayed-Khaiyum says the surplus budget in 1998 was only because the Government sold ATH shares to the FNPF at an inflated price and based on IMF definition, it was not a surplus but a one off sale of an asset.

He says it was a year where there was an underlying deficit.

Sayed-Khaiyum stresses if the Macroeconomic Committee made a projection of 22 percent contraction against an actual outcome of 15 percent contraction, it clearly shows the committee is independent.

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Meanwhile, Narube says he wants to urge the Minister for Economy to stick to the evidence.

He says projections are never spot on but as one can see, the trend in the Ministers forecasts is like a roller coaster and his is stable and closer to the actuals.

According to Narube, the Governments original forecast for 2020 was -4 percent and later revised to -21 percent while the actual contraction was -15 percent.

Narube says his original forecast for 2020 was -10 percent and the actual contraction was -15 percent. He says the Governments variation from its original forecast was -11 percent while his variation was -5 percent. He says for 2021, the Governments variation from its actual forecast was -9.1 percent while his variation stood at 0.9 percent.

Narube says Sayed-Khaiyum did not specify where he was wrong and perhaps because he does not even know himself.

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The Unity Fiji Leader says he wants to repeat his earlier statement on whether Sayed-Khaiyum thinks he knows more without any economic and financial experience or qualifications.

Narube says he is not running the economy and Sayed-Khaiyum is and has questioned who is really dangerous to the country.

He further says the country is in grave danger when a person who does not know economics and finance is at the helm of our economy but it is even more dangerous if the person at the helm does not know but believes he does.

Narube says no one is perfect and he may be wrong in his commentary of the economy and will concede when he is wrong, but it is extremely dangerous when the Minister for Economy never concedes that he is wrong.

Narube further states that Sayed-Khaiyum has built economic growth on the unsustainable foundation of Government expenditure and as a result, ran out of fiscal space before the virus hit, wasted scarce taxpayers money on his political expenditure and this wastage would not impact economic growth which would not generate more revenue to help service the ballooning national debt.

Narube adds Sayed-Khaiyum ignored the resource-based sectors which worsened the decline in the economy when the virus destroyed tourism, his incentives to raise demand in its budget in the first wave were ineffective because they were conventional and targeted at tourism, and Sayed-Khaiyum has not helped the private sector by intervening heavily in businesses.

The Unity Fiji Leader adds Government sold TFL in 1998 to ATH but he as the Permanent Secretary for Finance, did not spend the proceeds and instead, applied the proceeds to prepay debt.

Narube says this was why the overall budget balance was in surplus and this is prudent financial management.

He says in comparison, the Minister for Economy has been selling national assets, but he has been spending the proceeds and borrowing more which is dangerous.

Narube adds Sayed-Khaiyum has failed miserably in steering the country economically and financially as 300,000 people are living in poverty and COVID is not the only reason we are in the mess we are in now.

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Narube has been proven wrong time and time again and is selective about the data Sayed-Khaiyum - Fijivillage

Newswise On Jan. 4, the U.S. Bureau of Labor Statistics released its latest Job Openings and Labor Turnover Summary. The numbers are staggering: 4.5 million workers quit or changed their jobs in November 2021, the highest number ever recorded in one month. The quits rate the percentage of those who voluntarily left their jobs jumped back up to 3 percent in November 2021, matching the all-time high set in September 2021. Quits increased in several industries, with the largest coming in accommodation and food services.

Ian O. Williamson, dean of UCIs Paul Merage School of Business, is a globally recognized expert in human resource management. We asked him to help explain this phenomenon being called the Great Resignation.

The trend of workers quitting or changing their jobs continues, tying a record-high in November. Why is this happening?

Observers have credited several factors for all the turnover were seeing, from paltry wages and benefits being offered to fear of contracting COVID-19 and complications associated with infections.

Like many advanced economies, the U.S. has been moving away from productive sectors like manufacturing to a service-based economy for decades. The service sector contributed to 79 percent of economic growth and about 86 percent of employment in the U.S. in 2017.

Being successful in many service-based jobs requires generalizable occupational skills such as competencies in communications and computing. Because these talents are easily transportable across companies in a wide range of professions, its relatively easy for employees to move between companies and maintain their productivity in service-based economies.

What are some of the incentives for employees seeking a change?

To complement the obvious factors of increased wages and improved benefits, peoples cultural values and life situation often influence what they want from work. With the U.S. labor market expected to diversify in terms of gender, ethnicity and age moving forward, employers need to provide greater flexibility and variety in their working environment to be able to attract and retain workers.

Between the internet and social media recruitment, employees can find out about new job opportunities all over the world. We have also seen an increase in remote working, meaning some employees no longer need to physically relocate to start a new job. This has removed many barriers and transition costs historically associated with switching employers. Greater options and lower costs to move mean that employees can selectively pick jobs that best meet their personal needs and desires.

How is this trend affecting companies?

A survey in August 2021 found that 73 percent of 380 employers in North America were having difficulty attracting employees and 70 percent expected this difficulty to persist into 2022.

Between finding and training a replacement, the estimated cost to the employer of replacing a departing employee is, on average, 122 percent of that employees annual salary.

These factors combine to incentivize businesses to adapt to the new labor market conditions and develop innovative approaches to keeping workers happy and in their jobs. There is no evidence to suggest this trend will change going forward.

How can companies counter the trend?

A March 2021 survey of employees from around the world found that 54 percent would consider leaving their job if they were not provided some form of flexibility in where and when they work.

With employees placing a higher priority on finding a job that fits their preferences, companies need to tailor the types of financial, social and developmental incentives and opportunities they provide to individual employees preferences. Customizing reward packages may potentially increase administrative costs, but it can help retain a highly engaged workforce.

Companies should also reframe how they approach managing their workers. One way to do this is by investing in external relationships that ensure consistent access to high-quality talent. Enhancing relationships with educational institutions is one option. Adopting alumni programs that recruit former employees to rejoin is another. Former employees are often less expensive to recruit and possess both an understanding of an organizations processes and an appreciation of its culture.

Is there any timeline for when well see the trend change?

The quits rate is likely to stay elevated for some time to come. The sooner employers accept that and adapt, the better theyll be at managing the new normal.

NOTE TO EDITORS: PHOTO AVAILABLE AThttps://news.uci.edu/2022/02/01/whats-next-the-great-resignation/

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Whats next: The Great Resignation - Newswise