Category Archives: Resource Based Economy

As we leave COP26 behind, we see both progress against climate change and frustration about the strength and likely effectiveness of the agreement reached. Over the past two decades, climate change has moved from the fringe to the center of the political agenda in many nations. That is progress. Corporations, civil society, and governments are mobilizing to reduce greenhouse gasses. But the mobilization is tempered by national economic self-interest. While many decision-makers understand the severity of the problem, their own political survival requires that economic life continue uninterrupted. This means that until renewable energy is more widely available, they have no choice but allow fossil fuels.

Climate policy that requires drastic and immediate changes in the behaviors that cause greenhouse gas pollution is politically infeasible. Demands for sacrifice by climate activists have resulted in increased climate denial among those predisposed to ignore science anyway. According to a recent poll by the Washington Post and ABC News:

A clear majority of adults say that warming is a serious problem, but the share 67 percent is about the same as it was seven years ago, when alarms raised by climate scientists were less pronounced than they are now. The poll, released Friday, also finds that the partisan divide over the issue has widened. The proportion of Democrats who see climate change as an existential threat rose by 11 points to 95 percent over seven years. The increase was driven partly by Black Americans, who are now more likely to say the issue is very seriousMeanwhile, the share of Republicans who say climate change is a serious problem fell by 10 points, to 39 percent, over the same period. The Republican decline in Post-ABC polls tracks with the findings of annual Gallup polls in which Republican concerns dropped after 2017, when Donald Trump took office as president.

Despite the increased partisan divide on climate policy, young Republicans are far more concerned about climate change than their elders. In a Pew Research Center study conducted earlier this year, Cary Funk, the director of science and society research at Pew concluded that:

Generational differences over climate change appear in both parties, but especially among Republicans and particularly over the role of fossil fuels. Among Republicans and Republican-leaning independents, younger adults are much less inclined than their older counterparts to support the increased use of fossil fuel energy sources. For example, Gen Z Republicans are 30 percentage points less likely than Baby Boomer and older Republicans (44% vs. 74%) to favor more hydraulic fracturing, the primary extraction technique for natural gas. There are similar generational divides among Republicans over expanding offshore oil and gas drilling, as well as coal mining.

While young people in both parties recognize the problem, we can assume that the Republican youth will be more interested in encouraging green market forces than in policies that inhibit lifestyle choices. My view is that forced lifestyle change is an arrogant and self-defeating position. There is little evidence in history that, short of authoritarian enforcement, such change is even possible. The one child policy in China was an example of an effort to force mass behavior change. The issue was overpopulation. While demographers now understand that population growth declines along with economic development, the Chinese government did not want to wait for a demographic transition. The one child policy reduced the rate of population growth but had many unanticipated negative impacts and was finally abandoned. In any case, a similar policy would never be possible in a democratic state.

The idea that a global treaty on greenhouse gases can ever be anything more than aspirational is also misguided and does not recognize the persistence and power of national sovereignty. COP26 and its predecessors played an important role in teaching the world about the importance of climate change, but the central differences between the developed and developing world, and the political need for sovereign nations to pursue economic self-interest, make a binding agreement impossible. While no one wants a planet under water, the tragedy of the commons operates in our atmosphere as it does with every free natural resource that we share.

But we are not doomed. Command and control global policy approaches will not work, but fortunately, economic modernization can be steered to decarbonize and detoxify the environment. The fact is that fossil fuels will be driven from the marketplace by renewable energy and batteries. The technologies that we need are not here yet, but they are on the way. Solar cells are getting cheaper and more efficient. Battery technology is rapidly advancing. The cost of recovering from extreme weather events and detoxifying land that weve poisoned is pushing national and local governments to regulate and enforce compliance with environmental regulations. Corporate outlaws realize that in a world filled with smartphones and video cameras, midnight dumping of toxic waste is not as easy as it once was.

Technology is coming, but government must accelerate the pace of its development and adoption. The trillion-dollar infrastructure bill in the U.S. will help, as will the many decarbonization targets set by governments, businesses, and institutions such as the university that I work at. Government subsidies and incentives are critical. The Build Back Better program added to the infrastructure bill would make the federal government a significant force in decarbonization. So too would green federal procurement policies. In a city like New York, the greatest challenge will be rebuilding the energy system. This will require new renewable resource-based electricity generation plants, upgraded computer technologies for smart and microgrids, along with the distributed generation of electricity. Electric vehicles and charging stations are one part of the equation, but so too are windmills, solar farms, heat pumps, and home-based technologies such as solar arrays, solar water heaters and geothermal systems. The market will drive this change because the sun and wind remain free, and the technology to capture and store their energy will continue to come down in price. But to do this quickly, government must provide incentives and invest taxpayer resources to attract private capital. And speed is essential, particularly to mitigate climate change.

In the United States, this need for government action will be difficult in the face of disinformation propaganda that presents all government programs as the first stage of a communist take-over. Fortunately, reason sometimes prevails. The bi-partisan trillion-dollar infrastructure bill provides significant funding for climate adaptation. According to Coral Davenport and Christopher Flavelle of the New York Times:

The $47 billion in the bill designated for climate resilience is intended to help communities prepare for the new age of extreme fires, floods, storms and droughts that scientists say are worsened by human-caused climate change. The money is the most explicit signal yet from the federal government that the economic damages of a warming planet have already arrived. Its approval by Congress with bipartisan support reflects an implicit acknowledgment of that fact by at least some Republicans, even though many of the partys leaders still question or deny the established science of human-caused climate changeBut still in limbo on Capitol Hill is a second, far larger spending bill that is packed with $555 billion intended to try to mitigate climate change, by reducing the carbon dioxide pollution that is trapping heat and driving up global temperatures.

Funding for climate resilience measures does not require ideological opponents of climate science to acknowledge the cause of damage from more frequent extreme weather events. They need only recognize the fact that the damage occurs and should be reduced when possible. In this sense, climate adaptation is an easier sell than climate mitigation. Similarly, modernizing our energy system and making it more cost-effective and efficient also does not require acknowledging the facts of climate change. One simply needs to favor modernizing our aging energy infrastructure since it is now old, falling apart and out of date. Finally, the case for electric vehicles does not require anything more than an appreciation of a more reliable vehicle that requires less maintenance than those now built with internal combustion engines.

The transition to decarbonized energy and motor vehicles will be easier than eliminating greenhouse gases from farming, natural gas drilling and concrete manufacturing. We will also face environmental destruction from the mining of materials needed for solar cells and batteries. Each of these problems will require changes in production processes and a greater concern for environmental sustainability in all stages of economic production and consumption. Despite the ideological rigidity of right-wing politicians, there is evidence that corporations are beginning to take environmental sustainability more seriously. Part of this corporate environmentalism is due to consumer preferences, but even more is due to the attitudes of American workers. In a Gallup poll this past spring, Justin McCarthy observed that:

About seven in 10 U.S. workers say that a companys environmental record matters to some degree in whether or not they would take a job with that company. This includes 24% who say that it is a major factor and a 45% plurality who say a companys environmental record is a minor factor in their decision. Another 30% do not consider it to be a factor at all. Making commitments or taking steps to reduce their environmental impact has become increasingly common among large U.S. and global companies in recent years. Yet, Gallups latest findings from its annual Environment survey collected Mar. 1-15 are essentially unchanged from the prior reading in 2017.

In other words, the importance of a companys environmental record is now a stable and established part of the corporate environment in the United States. While this study does not report the environmentalism of young workers, many studies have indicated that young people tend to be more concerned about environmental protection than their elders. In February 2019, I wrote about the age gap in environmental politics. Moreover, a concern for environmental sustainability is a growing part of American corporate culture, as evidenced by the growing number of sustainability reports issued by American corporations. Many regulatory bodies now require these reports and in 2019, over 90% of S & P 500 Index companies published sustainability reports.

All of this is to argue that the drive for environmental sustainability has entered American corporate culture and is now a durable and real force for change. It is impervious to politics and even picked up momentum during the Trump presidency. While the technological change needed to combat global warming will come faster with governments intervention, it will eventually come because it is being integrated into the management culture of the organizations driving our economy. Sustainability is not a replacement for corporate profitability, but like accounting, marketing and innovative product engineering, environmental sustainability is a routine input into organizational decision making and the design of work process.

COP26 and its predecessors contributed to the creation of this changed corporate culture. Diplomacy has influence, but only the development and implementation of new technologies will end the climate crisis. Another unenforceable climate treaty is not the real motor of change. The environmental attitudes of young people will transform our environmental aspirations into environmental reality.

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Technology Not Treaties will Reduce Global Warming - State of the Planet

Jakarta (ANTARA) - Bank Indonesia (BI) recorded a surplus of US$10.7 billion in the balance of payments (BOP) in the third quarter of 2021 after experiencing a deficit of US$0.4 billion in the previous quarter.

"Thus, this supports external resilience," Head of BI's Communication Department, Erwin Haryono, noted in an official statement received in Jakarta on Friday.

Meanwhile, foreign exchange reserves at the end of September 2021 reached US$146.9 billion, higher than US$137.1 billion at the end of June 2021.

The foreign exchange reserve position is equivalent to financing 8.6 months of imports and servicing government external debt, as it is above the international adequacy standards.

In the third quarter of 2021, the current account recorded a surplus that was mainly supported by a significant increase in the balance of trade (goods) surplus.

The current account in the reporting period recorded a surplus of US$4.5 billion (1.5 percent of the GDP) after a deficit of US$2.0 billion (0.7 percent of the GDP) during the previous quarter.

A surplus in the goods balance drove this positive performance due to an increase in non-oil and gas exports that aligned with strong demand from trading partner countries and the continued increase in prices of major export commodities in the international market.

On the other hand, the services account deficit was lower, partly due to improved performance in transportation services and supported by increased revenue from freight services as export activity improved.

The primary income account deficit increased on account of an increase in payments for direct investment returns, influenced by improvements in the performance of natural resource-based corporations.

Related news: Indonesia's BOP posted a surplus of US$2.6 billion in 2020

The capital and financial account in the third quarter of 2021 recorded a surplus of US$6.1 billion (two percent of the GDP), higher than the US$1.6 billion (0.6 percent of the GDP) in the previous quarter.

"This is increasing, especially from direct investment. Net inflows of direct investment are maintained at US$3.3 billion," Haryono affirmed.

Other investments also recorded a surplus after experiencing a deficit in the previous quarter as influenced by a decrease in net foreign loan payments, an increase in the placement of non-resident deposits in the country, and an additional allocation of special drawing rights (SDR).

Portfolio investment during the third quarter of 2021 also recorded net inflows of US$1.1 billion, although it decreased, from US$4.0 billion in the previous quarter in line with the global financial market uncertainty.

Haryono ensured that BI will continually monitor the dynamics of the global economy that could affect the outlook for the balance of payments.

BI also continued to strengthen the policy mix to maintain economic stability and continued policy coordination with the government and relevant authorities to strengthen external sector resilience, he added.

Related news: BI estimates operational budget surplus of Rp20.8 trillion in 2020

Originally posted here:

BI records surplus of US$10.7 billion in balance of payments - ANTARA

WESTMINSTER, Colo., Nov. 19, 2021 /PRNewswire/ --Ball Corporation (NYSE: BLL) has been named to the 2021 Dow Jones Sustainability Indices (DJSI) World and North America. This marks the eighth year the company has been recognized by DJSI for its sustainability practices across its aluminum packaging and aerospace businesses.

Ball scored 76/100 in the 2021 S&P Global Corporate Sustainability Assessment and performed in the 97th percentile (score date: Nov. 12, 2021).

"Now more than ever, businesses have an essential role to play in supporting their employees, their communities and the planet," said John A. Hayes, chairman and CEO of Ball. "This recognition is a testament to our well-rounded sustainability program, which is focused on continuously improving the environmental performance, social impact and economic returns of our business and enabling the circular economy in service of our customers, stakeholders and the planet. It's an honor to have earned this achievement alongside other sustainability leaders, and we look forward to continuing to advance aluminum's sustainability credentials and make industry-leading progress toward our goals."

Earlier this year, Ball released updated 2030 Sustainability Goals, which will drive action on 10 social and environmental areas: health, safety and well-being; diversity and inclusion; talent development; employee experience; community; real circularity; climate leadership; material health; resource efficiency; and responsible sourcing.

"We congratulate Ball for being included in the Dow Jones Sustainability Index (DJSI) for DJSI World and North America," said Manjit Jus, Global Head of ESG Research, S&P Global. "A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021S&P Global Corporate Sustainability Assessmentis evidence to the growing movement for ESG disclosure and transparency."

The DJSI are float-adjusted market capitalization weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria. The DJSI, including the Dow Jones Sustainability World Index (DJSI World), were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. The index family is comprised of global, regional and country benchmarks.

For more information on Ball's sustainability efforts, please visit https://www.ball.com/realcircularity. For more information about the DJSI methodology, please visit:www.spglobal.com/spdji.

About Ball CorporationBall Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 21,500 people worldwide and reported 2020 net sales of$11.8 billion. For more information, visitwww.ball.com, or connect with us onFacebookorTwitter.

Forward-Looking Statements

This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," and similar expressions typically identify forward-looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements and any such statements should be read in conjunction with, and qualified in their entirety by, the cautionary statements referenced below. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at http://www.sec.gov. Additional factors that might affect: a) our packaging segments include product capacity, supply, and demand constraints and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment, and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes, including the startup of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable mandatory deposit or packaging laws; customer and supplier consolidation; power and supply chain interruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; political instability and sanctions; currency controls; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions, including business restrictions and shelter-in-place orders in any country or jurisdiction affecting goods produced by us or in our supply chain, including imported raw materials; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the Company as a whole include those listed above plus: the extent to which sustainability-related opportunities arise and can be capitalized upon; changes in senior management, succession, and the ability to attract and retain skilled labor; regulatory actions or issues including those related to tax, ESG reporting, competition, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; disease; pandemic; labor cost changes; rates of return on assets of the Company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies both in the U.S. and in other countries, including policies, orders, and actions related to COVID-19; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, and their effects on our operating results and business generally.

SOURCE Ball Corporation

http://www.ball.com

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Ball Corporation Named to 2021 Dow Jones Sustainability World and North America Indices - PRNewswire

The concept of zero-days as a service (ZDaaS) could be on the verge of racing up the CISO agenda, according to new research from Digital Shadows, which has found that cyber criminals are increasingly discussing the potential of a model whereby zero-day exploits are leased or rented to affiliates.

In their whitepaper Vulnerability intelligence: do you know where your flaws are?, the Digital Shadows team found that of late, active zero-day vulnerabilities have become the most expensive items advertised on dark web cyber crime forums, with prices reaching up to $10m in some cases.

They said that while exploit developers clearly now feel they can generate a substantial return on their labour, it can take them a long time to find someone willing or able to stump up such a hefty premium.

Therefore, renting the zero-day out may be a more attractive model because it lets the developer generate some income while they wait for a sale, and also gives the lessee a chance to try before they buy, said the team.

Digital Shadows research comes hot on the heels of research papers published by Sophos and Trend Micro, which detailed the growing scale of cyber crime-as-a-service models, which began with ransomware and are trickling down into other areas of the underground economy.

This is a problem, said Digital Shadows threat researcher Stefano De Blasi, because if the ZDaaS model is taken up with enthusiasm and there is no reason why it shouldnt be there will be a good deal more financially motivated threat actors with dangerous tools in their back pockets, causing an even bigger problem for defenders.

The teams investigation into the cyber criminal community active around vulnerabilities has also painted a picture of a bursting, diverse and well-organised environment of threat actors with varying motivations and capabilities, said De Blasi. The zero-day market is fascinating due to the presence of high-profile actors, sophisticated developers and capable vendors.

However, this was likely to be just the tip of the iceberg, he said. Most of this environment is characterised by a high degree of cooperation and resource sharing among lower-skilled cyber criminals. Older vulnerabilities, vulnerability scanning tools and proof-of-concept codes constitute the bare bones of this complex market.

Indeed, on a day-to-day basis, the Digital Shadows teams research found that older and more overlooked vulnerabilities are still highly valuable to cyber criminals because they offer a cheap and efficient way into victim environments and can be exploited by those with lower skills.

This chimes with other views on the subject earlier in 2021 the USs CISA agency revealed that some of the most exploited vulnerabilities were very old, highlighting one, CVE-2012-0158, a Microsoft bug that is approaching its 10th birthday.

According to De Blasi, these factors are combining to make effective patch management a real headache for security teams, many of which he said were ill-prepared to defend against a tidal wave of vulnerabilities.

Poor management support, ineffective triaging strategies and incomplete asset management practices are further complicating the entangled IT environment that security teams are required to defend, he told Computer Weekly.

The vulnerability threat landscape is characterised by newly disclosed flaws and overlooked unpatched bugs that often intertwine into a chaotic environment, he said. Vulnerability intelligence provides the additional details that allow a company to take a risk-based approach to vulnerability remediation.

In my opinion, the most important takeaway from this research is that context is vital when informing decision-making processes. While severity ratings can give an idea of the importance of a vulnerability, security teams need to have access to tailored intelligence to prioritise the right actions and plan mitigation strategies.

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Zero-days: The next element of the service-based cyber economy? - ComputerWeekly.com

Finding good employees has always been a challenge - but these days its harder than ever. And it is unlikely to improve anytime soon.

The so-called quit rate the share of workers who voluntarily leave their jobs hit a new record of 3% in September 2021, according to the latest data available from the Bureau of Labor and Statistics. The rate was highest in the leisure and hospitality sector, where 6.4% of workers quit their jobs in September. In all, 20.2 million workers left their employers from May through September.

Companies are feeling the effects. In August 2021, a survey found that 73% of 380 employers in North America were having difficulty attracting employees three times the share that said so the previous year. And 70% expect this difficulty to persist into 2022.

Observers have blamed a wide variety of factors for all the turnover, from fear of contracting COVID-19 by mixing with co-workers on the job to paltry wages and benefits being offered.

As a professor of human resource management, I examine how employment and the work environment have changed over time and the impact this has on organizations and communities. While the current resignation behavior may seem like a new trend, data shows employee turnover has been rising steadily for the past decade and may simply be the new normal employers are going to have to get used to.

The economys seismic shifts

The U.S. alongside other advanced economies has been moving away from a focus on productive sectors like manufacturing to a service-based economy for decades.

In recent years, the service sector accounted for about 86% of all employment in the U.S. and 79% of all economic growth.

That change has been seismic for employers. A majority of the jobs in service-based industries require only generalizable occupational skills such as competencies in computing and communications that are often easily transportable across companies. This is true across a wide range of professions, from accountants and engineers to truck drivers and customer services representatives. As a result, in service-based economies, it is relatively easy for employees to move between companies and maintain their productivity.

And thanks to information technology and social media, it has never been easier for employees to find out about new job opportunities anywhere in the world. The growing prevalence of remote working also means that in some cases employees will no longer need to physically relocate to start a new job.

Thus, the barriers and transition costs employees incur when switching employers have been reduced.

Greater options and lower costs to move mean that employees can be more selective and focus on picking jobs that best fit their personal needs and desires. What people want from work is inherently shaped by their cultural values and life situation. The U.S. labor market is expected to become far more diverse going forward in terms of gender, ethnicity and age. Thus, employers that cannot provide greater flexibility and variety in their working environment will struggle to attract and retain workers.

Employers now have a greater obligation than in the past to convince existing and would-be employees why they should stay or join their organizations. And there is no evidence to suggest this trend will change going forward.

What companies can do to adapt

It has been estimated that the cost to the employer of replacing a departing employee is on average 122% of that employees annual salary in terms of finding and training a replacement.

Thus, there is a large incentive for businesses to adapt to the new labor market conditions and develop innovative approaches to keeping workers happy and in their jobs.

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

Given the heightened priority employees place on finding a job that fits their preferences, companies need to adopt a more holistic approach to the types of rewards they provide. Its also important that they tailor the types of financial, social and developmental incentives and opportunities they provide to individual employees preferences. Its not just about paying workers more. There are even examples of companies providing employees the choice of simply being paid in a cryptocurrency like bitcoin as an inducement.

While customizing the package of rewards each employees receives may potentially increase an organizations administrative costs, this investment can help retain a highly engaged workforce.

Managing the new normal

Companies should also plan on high employee mobility to be endemic and reframe how they approach managing their workers.

One way to do this is by investing deeply in external relationships that help ensure consistent access to high-quality talent. This can include enhancing the relationships they have with educational institutions and former employees.

For example, many organizations have adopted alumni programs that specifically recruit former employees to rejoin.

These former employees are often less expensive to recruit, bring access to needed human capital and possess both an understanding of an organizations processes and an appreciation of the organizations culture.

The quit 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.

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This article is republished from The Conversation under a Creative Commons license. Read the original article.

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The 'Great Resignation' Is a Trend That Began Before the Pandemic And Bosses Need To Get Used to It - Route Fifty

The circular economy is a systemic approach to economic development designed with the primary purpose of safeguarding the environment, creating wealth for society, and providing sustainable growth opportunities for business. In contrast to the linear extract-transform-consume-waste model, a circular economy is designed to be self-regenerating and is aimed at gradually separating growth from consumption of finite resources.

As we shall see, a circular rental economy, i.e. one that favors a particular form of the so-called sharing economy, focuses on another, no less crucial step, one that shifts the perspective of companies and institutions from product to service. This is a real paradigm shift that has undergone considerable acceleration following the mass adoption of digital technologies.

The circular economy also aims to redesign the waste cycle and in doing so, introduces a rigorous differentiation between consumer and durable components of a product. Through the rental business model, the circular economy helps to actualize an equally significant transformation: it replaces the concept of consumer with that of user.

Today, more than 7.5 billion people live on the planet Earth. In 2050, there will be nearly 10 billion people competing for resources (which would not be enough even if we had three more planets to exploit!). Every year, the world economy consumes almost 93 billion tons of raw materials including minerals, fossil fuels, metals, and biomass. Of these, only 9% are reused. In the European Union alone, 2.5 billion tons of waste are produced each year.

The transition to a circular economy the only alternative to the current linear economic model that has proven largely insufficient can no longer be postponed. In March 2020, the European Commission presented proposals that move the conversation even further towards sustainable product design, waste reduction, and citizen-consumer empowerment through, for example, the right to repair (source: European Parliament).

The concern for an economic and production system that is no longer able to sustain itself is not only a concern of international institutions and the business world, but is also reflected in the choices we make every day. According to a recent analysis from PwC, Centromarca, and IBC, consumers would choose more and more healthy and responsible alternatives, guided by ethical values that would influence their purchasing decisions: eco-friendly packaging made without plastic; a willingness to pay a higher price for zero-kilometer and eco-sustainable products; attention to the origin and the entire supply chain.

Italy has the gold medal for circular economy among the leading economies of the European Union, as these statistics show:

We can be proud of these achievements, but we know that maintaining this position will require a high level of vigilance (source: Circular Economy Network).

In recent years, with the increasing focus on resource and environmental sustainability, the circular economy has become an increasingly popular topic in academia, business, and policy circles. In contrast to the traditional linear economic model of extraction-production-resource consumption-disposal, the circular economy presents a closed production cycle and flow, emphasizing that products should be used efficiently and recycled at the end of their life cycle. The profound meaning of the act of consumption takes on a broader scope, escaping the punctual meaning of a destructive and definitive action and is projected instead into a possible and distant time horizon.

This consideration leads us to reflect on a distinction, in terminology and substance, that is interesting for this discussion, namely that between consumers and users. In a circular economy, biological materials are the only materials that can be considered consumable, while technological tools are not consumed but are instead used. This is why it is inaccurate to say that we consume our household appliances or our means of transportation in the same way that we consume food. It is a subtle distinction, but an important one, because it helps us frame our relationship with objects and services differently.

It is a distinction that also raises a number of questions that revolve around the need to own products, or rather, that revolve around the traditional forms in which we experience this need to own.

What benefit is there in owning a drill when you just want to put holes in your wall to hang a picture? It is access to the service a product provides that is important, rather than the product itself. Understanding this shift in mindset lays the groundwork to many of the practicalities of shifting our economy from linear to circular. (Source: Ellen MacArthur foundation)

Circular solutions offer new ways to creatively engage customers. New business models, such as rentals or leases, establish long-term relationships as they multiply the number of touchpoints over the life of a product. These business models offer companies an extraordinary opportunity: the ability to gain unique insights into recurring usage and consumption practices that in turn can be used to optimize organizations processes, in a virtuous cycle that progressively enhances products, improves services, and increases customer satisfaction.

Responsible resource provisioning is at the heart of conscious rental activity, enabling more efficient use of equipment, and reducing demand for non-renewable resources, which is in line with the strategic thinking of the rental circular economy.

The rental circular economy promotes a type of sustainability-focused approach that aims to reinforce a long-term focus on responsible customer use of products and innovative modes of transportation, logistics, and procurement. It is also an issue of business ethics that is reflected in occupational health and safety initiatives, reducing environmental impact and taking an active role in the communities where the organization operates.

If we take the example of an area where the cornerstones of the circular economy) are increasingly finding application, namely the industrial and manufacturing sector, a rental circular economy rests on four key elements:

These cardinal principles of the rental circular economy are perfectly in line with the philosophy on which the circular economic model is based, and once they are put into operation, they become part of a virtuous flow, facilitating the transition to the circular economy, in a way that primarily benefits companies. If the transition to a circular economy means using fewer virgin resources and more recycled materials, then the company will gain a stronger position. For example, it will:

Business rental practices not only comply with the goals and principles of the circular economy, they also expand the boundaries of its scope. On the one hand, they improve product utilization and extend product life through shared use by multiple users. On the other, they ensure that consumption activities are increasingly integrated into the production process and the entire product life cycle, contributing to the formation of a continuum that proceeds seamlessly from sustainable consumption to sustainable production and back again.

Thanks to this bidirectionality, made possible by digital technologies at a level never experienced before, brands that adopt the rental circular economy as a business model are able to leverage data from customer interactions to enable a system of personalized recommendations within a more direct, participatory, and transparent customer experience.

(Source: How Does the Collaborative Economy Advance Better Product Lifetimes? A Case Study of Free-Floating Bike Sharing, Shouheng Sun)

The circular economy is thus an economy that is designed to be restorative and regenerative, where products, components, and materials are maintained in a state of maximum usefulness and value over time (source: The Ellen MacArthur Foundation Growth Within: A Circular Economy Vision for a Competitive Europe).

We can summarize the three factors that determine the value of the circular economy as follows:

For each of these factors, technological innovation and scientific research have played key roles in recent years.

Discoveries in the study of materials and advances in manufacturing technologies (for example, consider whats happening in Industry 4.0) have developed solutions to extend the reusability and durability of products.

The Internet of Things and Big Data make it possible to provide preventive and predictive maintenance, to monitor and track product activity, to update and optimize its use, and to improve remanufacturing and refurbishment to postpone the end of its life cycle.

In addition, with the rapid development of information technology and computing, digital platforms are making it possible for emerging economic models to have widespread, two-way communication and interactive functionalities that were previously unimaginable.

Among these models, which thanks to digitization are becoming a driving force for the circular economy, the most notable are those that are part of the sharing economy among which the circular rental economy stands out.

The collaborative economy, also called the sharing economy or collaborative consumption, refers to the temporary, collaborative use of products and services. It emphasizes consumption based on access to products and services in specific, time-limited use situations, rather than traditional ownership-oriented consumption.

Digitization is transforming our economies, our society, our relationship with businesses. It is designed to address complexities. It gives us the ability to interpret, manage, and share massive amounts of data, to:

Above all, digitalization creates the conditions to design and operate business models, products, and processes that are more circular and therefore sustainable, capable of radically changing the way we design, produce, use, reuse, repair, and finally manage the end of life of consumer goods (including recycling).

One such circular economic model which has proven particularly capable of incorporating technological innovation is definitely Rental. At the heart of its success lies the ability to grasp and support another important transformation, the one that sees consumers become active participants and co-creators of knowledge.

(Source: The circular economy: going digital, European Policy Centre)

At the heart of the rental circular economy is a business model with great potential: it allows for the more efficient use of resources (equipment, raw materials, skills, etc.) and facilitates the transition to a circular economy.

One of its key features is the redefinition of the concept of sustainability, which, while retaining its ideal meaning of ecological harmony and balance, is enriched with a central dimension for business: the ability to contribute to an increase in productivity by reducing costs that result from activities with a high negative environmental and social impact.

This is why we could perhaps define the circular rental economy as a model that is disruptive in some respects. Not so much because it introduces innovative technologies, but because it structurally modifies the value system at the basis of business culture: from product to service, as we have shown. And from product to consumer.

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Rental and the circular economy: from product to service - Doxee

CHICAGO--(BUSINESS WIRE)--LafargeHolcim in the US, its subsidiary, Geocycle, and CenterPoint Energy, Inc. (NYSE: CNP) today announced a major milestone in their multi-year initiative with the first barge shipment of power plant coal ash, part of a project which will result in the recovery and recycling of more than six million tons of coal ash for beneficial reuse in producing cement.

LafargeHolcim, the nations largest cement producer, Geocycle, a provider of sustainable waste management solutions, and CenterPoint Energy, which operates two coal-fired generation plants in southwestern Indiana, invested on a combined basis over $80 million in infrastructure to remove, process, transport, store and recycle the coal ash produced at CenterPoint Energys A.B. Brown generating station in Evansville, Indiana, for use at LafargeHolcims flagship cement plant in Ste. Genevieve, Missourireducing the cement plants consumption of natural materials, such as clay and sand.

This milestone is a tangible example of how industry participants together can develop creative and efficient solutions that contribute to the circular economy. Together, LafargeHolcim, Geocycle and CenterPoint Energy will avoid landfilling for power plants and reduce the consumption of non-renewable raw materials. This is a clear win-win for people and our planet, said Toufic Tabbara, CEO, US Cement for LafargeHolcim in the US.

The teams recently achieved the first barge shipment of nearly 2,000 tons of the reclaimed materialcontaining mostly bottom ash with some fly ashfrom the 165-acre pond at CenterPoint Energys A.B. Brown plant. Geocycle has managed the ongoing initiative between LafargeHolcim and CenterPoint Energy since 2009.

Our multi-year initiative with LafargeHolcim and Geocycle has been the ideal solution as it has allowed for the material to be removed from the environment and used for beneficial purposes, said Steve Greenley, Senior Vice President, Indiana Electric Operations for CenterPoint Energy. CenterPoint Energys decision to recycle the coal ash has reduced the impact on the environment and allowed for a choice with less financial impact than other compliance options.

Used as fuel for one-quarter of electricity generation in America, coal creates two kinds of combustion waste: fly ash and bottom ash, a sandy sludge. According to the American Coal Ash Association, only 52% of the 78.6 million tons of coal ash produced in electricity generation in 2019 was beneficially reused. The balance37.6 million tonswas disposed of in landfills or retention ponds. There are more than 2 billion tons of landfilled ash in the US. To mitigate environmental risks, federal regulations are mandating the closure of ash ponds and encouraging the recycling of the materials to achieve environmental and economic benefits.

With careful material sourcing and testing, this initiative advances the treatment of ponded coal-ash material for beneficial reuse in the production of more environmentally friendly concrete mixes. This beneficiation technology, which included trials on CenterPoint Energys ponded coal ash, is being deployed in select markets that are experiencing fly-ash shortages due to the ongoing retirement of coal-fired power plants in the US.

This significant circular-economy relationship with CenterPoint Energy is a powerful example of how our Geocycle recycling management business seeks out innovative solutions to turn our nations ecosystem challenges into opportunities that contribute value to our operations and advance our leadership commitment to a Net Zero future, said Sophie Wu, Head of Geocycle North America.

Since 2009, Geocycle has managed the ongoing supply of nearly 1.5 million tons of dry fly-ash waste from CenterPoint Energys A.B. Brown, F.B. Culley and Warrick generating stations for beneficial reuse at the Ste. Genevieve cement plant. This barge shipment represents the next phase in the long-term collaborative relationship between the companies.

About CenterPoint Energy

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of September 30, 2021, the company owned approximately $37 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

About Geocycle

Geocycle LLC, a US subsidiary of Holcim (US) Inc., is a part of the global Geocycle network, which represents over 80 waste pre-treatment facilities and over 180 cement plants with dedicated pre-processing and co-processing installations. Geocycle rethinks waste challenges to provide innovative ways to manage it. Our promise is clear: we work relentlessly to bring society a step closer to a zero-waste future. Geocycle applies the proven pre-processing and co-processing technologies to recover energy and recycle materials from waste, contributing to a regenerative, circular economy that closes resource cycles. Geocycle operates 20+ facilities across the United States, and its customers include many Fortune 500 companies. Last year, regardless of the challenges posed by the pandemic, Geocycle reduced the amount of waste going to landfills nation-wide significantly, which resulted in more than 280,000 tons of CO2 savings. This is an equivalent of reducing greenhouse gas emissions from 60,754 passenger vehicles driven for one year.

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy, Holcim is becoming a net-zero company, with its people and communities at the heart of its success. The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the worlds most trusted brands in the building sector, including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products. More information is available on http://www.Holcim.com.

LafargeHolcim in the US includes close to 350 sites in 43 states and employs 7,000 people. Our customers rely on us to help them design and build better communities with innovative solutions that deliver structural integrity and eco-efficiency.

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LafargeHolcim in the US, Geocycle Achieve Major Circular-Economy Milestone with CenterPoint Energy to Recycle 6 Million Tons of Power-Plant Coal Ash...

DowPublished 6 hours ago.About a 5 minute read.Image: Hans Braxmeier/PixabaySponsored Content/ This article is sponsored byDow.

We believe that the solution to stopping plastic waste is understanding that the material is too valuable to be lost in landfills. We can change what istraditionally considered waste and transform it into a valuable, sustainable resource through advanced recycling.

If you ask the average American what advanced recycling is, chances are theywont know the answer. Most peoples understanding of recycling stems from thatone lesson they had in elementary school the reduce, reuse, recycle refrain and thats it. This lack of understanding results in widespread, incorrect useof the service as people dont know what can be recycled and how to recycleit. In fact, a recentsurveyof 2,000 US consumers revealed that 62 percent of people felt a lack ofknowledge was causing them to recycle incorrectly.

For a non-technical brand leader, the ability to explain what your company isdoing to limit waste is critical to meeting mounting consumer expectationsaround sustainability. As the world watches for action on sustainabilityfollowingCOP26,companies should seize the opportunity to educate their customers and showcasethe steps they are taking to limit waste, increase circularity and use morerecycled content in products and packaging.

That ubiquitous elementary school lesson on recycling generally dealt withtraditional or mechanical recycling. Mechanical recycling for plastics involvessorting items by plastic type, washing them, grinding and melting them down, andre-granulating and compounding the material to replace virgin plastics in theproduction of new products such as yarn, fibers and building materials. Thisform of recycling is incredibly important and greatly reduces the environmentalfootprint of product manufacturing. That said, it can only be used for specifickinds of plastic, leaving many products at risk of being wasted and dumped intolandfills or the environment if it is not paired with other recycling processes.

Advanced recycling, which in many ways picks up where traditional recyclingleaves off, is a process that can be used for virtually all plastics. In a moretechnical sense, advanced recycling also called feedstock or chemicalrecycling works by breaking down plastic through pyrolysis-based heating (thermalheating in the absence of oxygen) into its original molecules to rebuild theminto new products. Advanced recycling can also capture hard-to-recycle plasticsthat dont work within the traditional, mechanical recycling streams such asplastic films and packaging and can be repeated over and over again for somematerials.

At Dow, we like to use an analogy to help people unfamiliarwith the process understand it:

Think about a Lego castle thats made up of all different colors, shapesand designs that you want to break down and rebuild into a new creation. If youwere to use traditional, mechanical recycling, you could only break down Legosof the same shape and color yellow, square Legos with yellow, square Legos, or#1 PET plastic with other #1 PET plastic products limiting your ability toreimagine, reuse or recreate. But if you used advanced recycling instead, youcould break down the castle and use any kind of Lego regardless of style,design or color and rebuild however you want.

With these advanced technologies, we can break down structures of multiple typesof plastics to their original molecules that can be reused many times overwithout traditional recyclings deterioration in quality, thereby decreasingwaste and environmental footprint of all kinds of products. Optimizing theexisting mechanical-recycling system alongside an expansion of advancedrecycling is key to achieving the goal of recycling, or recovering, 100 percent of used plastic packaging inthe US by 2040.

A common and understandable response to the global plastic wastecrisisis why dont we just stop making and using plastic? While there are someproducts that could be made using less plastic, in general people underestimatehow important plastic is and what a groundbreaking innovation it was for humanprogress. Plastic keeps food fresh for longer and medical equipment sterile, andreduces weight in transportation, saving fuel and reducing emissions.

At Dow, we believe that the solution to stopping plastic waste is understandingthat the material is too valuable to be lost in landfills. And the numbers backthis up: If recycled and repurposed through a circular economy, the value ofthese recycled plastics would top $100 billion per year. Yet, according to theWorld EconomicForum, 95percent of the value of plastic packaging material is lost to the economy due tolinear supply chains and continued reliance on traditional, mechanical-recyclingsystems. We can change what is traditionally considered waste and transform itinto a valuable, sustainable resource through advanced recycling.

Innovation takes time and investment. Thats why Dow and partners, such asMuraandFuenix,are investing heavily in scaling advanced-recycling infrastructure andtechnology. While advanced recycling is not yet widely available, as more brandsinvest in new products backed by advanced recycling such as EsteLauders announcement thatits Origins Clear Improvement tube will be 100 percentrecycled the more material science players such as Dow can get recycled materials tomarket.

Showing clear progress on sustainability goals is also central to appealing toconsumers: Recent BCGresearchshows that nearly 95 percent of people believe that their personal actions couldhelp reduce unsustainable waste, tackle climate change and protect wildlife andbiodiversity. The data is clear: For companies and brands trying to limit theirenvironmental footprint and meet their zero-waste commitments, investing inadvanced recycling is a safe bet.

As we close out a powerful year for sustainability commitments, brands shouldconsider how innovative technologies can scale plastic waste reduction whilestill providing consumers with the safe, sterile products they need and love.Watch for whats happening with advanced recycling on Dows Science andSustainabilitypage.

Published Nov 17, 2021 7am EST / 4am PST / 12pm GMT / 1pm CET

This article, produced in cooperation with the Sustainable Brands editorial team, has been paid for by one of our sponsors.

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Meeting Your Corporate Circularity Commitments: Welcome to the Age of Advanced Recycling - Sustainable Brands

VANCOUVER, British Columbia, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (Ascot or the Company) is pleased to announce additional assay results from exploration drill holes from the 2021 drill program at the Companys Premier Gold Project (PGP). This release summarizes assays from the first drill hole at the Day Zone near the Big Missouri deposit and the balance of drill results from near the Premier deposit. Importantly, the new drill hole at the Day Zone has expanded mineralization approximately 400 metres to the south.

Highlights from the drill results include:

This release summarizes the results from ten surface drill holes west of the Premier deposit and one drill hole south of the Day Zone, for a total of 2,795m completed from four drill pads. As the winter season and snow accumulation has begun at site, drilling activities have wrapped up for the 2021 season. A total of 18,074 metres were drilled from surface. The 2021 drill program originally planned for 25,000 metres however permit delays restricted the start of underground drilling. Assay results for a total of 57 holes and 10,875 metres of drilling are still pending from the Woodbine target, the Day Zone, the Big Missouri deposit, and the Sebakwe target.

Derek White, President and CEO of Ascot commented, Since its initial discovery last year and through very modest amounts of additional drilling, the Day Zone has quickly evolved into one of our most prospective targets for potential resource growth near planned development. This is especially important for our strategy to increase mine life given the Day Zones proximity to the Big Missouri and Silver Coin deposits, which will be exploited in the early years of our mine plan. The 400-metre step-out hole to the south of the Day Zone highlights the size potential of this area, and we eagerly await assay results from an additional 7 holes drilled from the same pad. Assay results have taken much longer to process this year. We are looking forward to assays from both Big Missouri and Sebakwe, where visible gold was observed in drill core. As the Company continues to work with provincial permitting regulators, we look forward to getting final permits to progress development and underground drilling.

Day Zone Target

The Day Zone, initially discovered in 2020 (see News Releases dated September 14, 2020, November 19, 2020, and January 18, 2021), is located on the western side of the Big Missouri Ridge, approximately 5 kilometres north of the Premier mill. Given the high-grade intercepts encountered in this area and its proximity to Big Missouri the first deposit to be exploited in the Companys mine plan the Day Zone is one of the most compelling targets for resource growth and potential mine life extension. The Day Zone is located just 300m west of reserve stopes at Big Missouri, and mineralization remains open to the north and south.

The first assay results from the Day Zone drilling program in 2021 come from a 400m southern step-out hole. Hole P21-2331 intercepted 4.13 g/t Au and 3.5 g/t Ag over 2.46m starting at a depth of 291m. Gold mineralization was intercepted at four different elevations that roughly correspond to known elevations of mineralization elsewhere at Big Missouri. The new drill hole is exploring an area of sparse geological information very close to the planned development drift from the Big Missouri deposit to the Silver Coin deposit. Additional drill holes from the same pad have been completed in order to establish the orientation of mineralization in this area (see Figure 1). Assays from these holes are pending and will be reported as they become available. The 400m of strike extent between hole P21-2331 and the Day Zone drill holes reported last year will be investigated in order to establish continuity of mineralization. The mineralization at the Day Zone has now been intercepted over a combined strike length of 550m and remains open to the north and to the south.

Figure 1 Illustration of the location of drill hole P21-2331 in relation to last years drilling from drill pads Day-1 through Day-3. Planned underground development is shown in blue. Additional 2021 drill holes with assays pending from pad Day-4 are shown in dark green.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1aff1a4a-94b7-45c5-ad32-d790616e5d5d

Table 1 Day Zone drill results

Note: The orientation of mineralization in this area is not sufficiently well understood to predict true width.

Premier Deposit Drilling

Earlier in the 2021 drill season, Ascot started surface drilling at lower elevations in the area west of the Premier deposit and near the mill building (see News Releases dated July 8, 2021 and August 9, 2021). Following up on the previously reported 50 metre step-out hole to the west of the existing resource at Northern Light which intercepted 21.13 g/t Au over 7.0m in hole P21-2320, a further ten holes totaling 2,404m were drilled along the implied extension of that limb.

The new drill holes were completed in an area with no previous drilling, targeting the projected extension of the Northern Light Zone at Premier. One additional high-grade intercept was encountered in hole P21-2323 that intercepted 17.05 g/t Au and 43 g/t Ag over 0.70m at the edge of a Tertiary dyke in the overlying Betty Creek formation.

Drill holes 2321, 2322, 2323 and 2324 intercepted sulfide mineralization in quartz breccia with highly anomalous gold values at roughly the expected depth without duplicating the spectacular results from drill hole 2320 a little further east. The next three drill holes did not return any significant results while drill holes 2328 and 2330 intercepted anomalous gold again. Both holes were drilled at a very steep dip and the results suggest that the mineralization may trend further to the north rather than the west as anticipated. This area of the deposit is concealed by younger volcanic cover and geological information is obtained exclusively from drill holes. Additional work in the future will be designed to establish the correct trace of the main trend of mineralization and its potential connection to the intercepts further west reported earlier in the year. The hydrothermal system appears to extend to the west of the established resource areas offering exciting potential for additional discoveries very close to the mine infrastructure.

Table 2 Premier deposit drill results

Note: True widths are anticipated to be 7090% of reported intervals.

Table 3 Drill pad locations

Qualified Person

Lawrence Tsang, P.Geo., the Companys Senior Geologist provides the field management for the PGP exploration program. John Kiernan, P.Eng., Chief Operating Officer of the Company is the Companys Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.

Quality Assurance/Quality Control

Analytical work is being carried out by ALS Canada Ltd. (ALS). Ascots quality-assurance and quality-control program includes the use of analytical blanks to monitor for cross contamination, certified reference material standards to assess analytical accuracy, and duplicate samples to quantify sampling precision. This is in addition to the internal quality assurance program employed by ALS.

Samples are dried and weighed by ALS. They are then crushed to 75% passing 2mm, with 250g split and pulverized to 85% passing 75m. Samples are processed at the ALS preparation lab in Terrace and sent to ALS in North Vancouver for analysis. There, all samples are dissolved using four acid digestion with an ICP-AES finish and fire assay with AA finish for gold. Samples over 100ppm silver are digested with aqua regia and then volumetrically diluted before an ICP-AES or AA finish (up to 1,500ppm). Samples over 1,500ppm silver are fire assayed with a gravimetric finish. Samples over 10ppm gold are fire assayed with a gravimetric finish. Identified or suspected metallic gold or silver are subjected to metallics assays. Sampling and storage is located at the Companys secure facility in Stewart.

On behalf of the Board of Directors of Ascot Resources Ltd.Derek C. WhitePresident & CEO

For further information contact:David Stewart, P.Eng.VP, Corporate Development & Shareholder Communicationsdstewart@ascotgold.com778-725-1060 ext. 1024

About Ascot Resources Ltd.

Ascot is a Canadian-based junior exploration and development company focused on re-starting the past-producing Premier gold mine, located in British Columbias prolific Golden Triangle. Concurrent with progressing the development of Premier, the Company continues to successfully explore its properties for additional high-grade underground resources. Ascot is committed to the safe and responsible development of Premier in partnership with Nisgaa Nation as outlined in the Benefits Agreement.

For more information about the Company, please refer to the Companys profile on SEDAR at http://www.sedar.com or visit the Companys web site at http://www.ascotgold.com, or for a virtual tour visit http://www.vrify.com under Ascot Resources.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as seek, anticipate, believe, plan, estimate, expect and intend and statements that an event or result may, will, should, could or might occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of the use of proceeds of the Offering. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Ascot can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Ascots periodic filings with Canadian securities regulators, and assumptions made with regard to: the estimated costs associated with construction of the Premier Gold Project; the timing of the anticipated start of production at the Projects; the ability to maintain throughput and production levels at the Premier Mill; the tax rate applicable to the Company; future commodity prices; the grade of Resources and Reserves; the ability of the Company to convert inferred resources to other categories; the ability of the Company to reduce mining dilution; the ability to reduce capital costs. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Ascots expectations include risks associated with the business of Ascot; risks related to exploration and potential development of Ascots projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; risks associated with COVID-19 including adverse impacts on the world economy, construction timing and the availability of personnel; and other risk factors as detailed from time to time and additional risks identified in Ascots filings with Canadian securities regulators on SEDAR in Canada (available at http://www.sedar.com). The timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of the Premier Gold Project as well as those factors discussed in the Annual Information Form of the Company dated March 26, 2021 in the section entitled "Risk Factors", under Ascots SEDAR profile at http://www.sedar.com. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Ascot does not undertake any obligation to update forward-looking statements.

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Ascot Expands Day Zone Mineralization 400 Metres to the South With Step-Out Drill Hole - GlobeNewswire

IRVINE, Calif. and LONDON, Nov. 17, 2021 /PRNewswire/ --Mavenlinkand Kimble Applicationstoday announced a definitive agreement under which the two companies will merge, bringing together deep domain expertise and purpose-built solutions for professional services organizations. Accel-KKR, a global technology-focused private equity firm, will be the majority investor in the combined business while existing Kimble and Mavenlink investors, including Carrick Capital Partners and Goldman Sachs, will continue to be investors.The merger will join two of the fastest growing technology players targeting the professional services vertical, serving over 2,000 clients globally.

"For over three years, Accel-KKR has been Kimble's partner as we've worked to expand our product line and extend our global sales and service capabilities," said Sean Hoban, CEO and co-founder of Kimble. "We are excited to take this next major step with Accel-KKR and Mavenlink as we create a company that will deliver innovativecloud-based technology, expertise, and value to professional services organizations globally."

"Sean Hoban and I, together with our co-founders and entire teams, share a common vision that purpose-built technology can transform the operational and financial performance of professional services firms," said Ray Grainger, CEO and co-founder of Mavenlink. "Combining our capabilities and resources into a single organization will accelerate our progress towards this vision and drive value for our existing and future clients."

The new company's complementary portfolio of vertical SaaS solutions will enable professional services leaders to manage complex workflows and improve strategic planning by removing data silos and providing greater visibility and controls for project delivery, financial performance, and resource management. The breadth of the company's product portfolio will deliver clients a selection of best-fitsolutions that meet the needs of every organizational size, vertical, and geographic footprint.

A recent Forrester Consulting study commissioned by Mavenlinkhighlights the primary drivers behind a move to purpose-built vertical SaaS software solutions tailored for professional services organizations, including improved client satisfaction, better forecasting and increased revenue.

"Mavenlink's and Kimble's shared vision to help professional services organizations replace legacy resource and work management applications with purpose-built technology directly aligns with our investment focus on mission-critical applications and solutions," said Tom Barnds, Co-Managing Partner of Accel-KKR. "The combined company will be unique in its ability to meet the evolving needs of professional services firms operating in the global networked economy."

The transaction, which is expected to close during the fourth quarter of 2021, is subject to regulatory approvals and other customary closing conditions.

About Kimble Kimble Applicationshelps professional service organizations run their project-based businesses better. Global leaders in consulting, software, and hi-tech such as NTT Data, Sage, and Canon use Kimble to optimize resource utilization, profitability, and business scalability. Kimble is an award-winning software provider in professional services automation (PSA) technology, focused exclusively on innovating features and easy-to-use functionality that improve team collaboration and efficiency around the key services processes. Built on the Salesforce platform, Kimble drives a forward-looking focus and more timely decision making with intelligent insights and guidance. For more information, visit http://www.kimbleapps.com.

About MavenlinkMavenlink's purpose-built cloud software for professional services takes PSA software to a new level, one that optimizes resources and elevates operational performance to build thriving businesses. The Mavenlink Industry Cloud for Professional Services enables services businesses to field the best team, every time,and see up-to-the-minute progress against timelines and budgets so projects run smoothly, predictably, and profitably. Mavenlink gives professional services firms in more than 100 countries the clarity, control and confidence to do what they do best, even better. Learn more at https://www.mavenlink.com/.

About Accel-KKRAccel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. For three consecutive years between 2019 and 2021, Inc. named Accel-KKR to "PE 50 The Best Private Equity Firms for Entrepreneurs", an annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta, Mexico City, and London. To learn more, visitwww.accel-kkr.com.

Media Contacts:

Kimble:Danielle Richards858-386-9524[emailprotected]

Mavenlink:Jen Dodos949-322-6181[emailprotected]

Accel-KKR: Todd Fogarty, Kekst CNC 212-521-4854[emailprotected]

SOURCE Mavenlink; Kimble Applications

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Mavenlink and Kimble Applications to Merge - PRNewswire