5 must reads for your weekend

We keep an ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.

1. Heatwaves roll

As heatwaves roll across the northern hemisphere this summer, record temperatures are not the kind of achievement that should be celebrated. With global warming ever more present in our lives, it’s up to all parts of society to help meet global climate goals. Business is a key player:

• Business can mobilize capital to finance the green transition while promised government funding is slow to materialize.
• Government funding and policy incentives can support R&D in clean technology but the private sector is where these innovations for sustainability will occur – and where new green jobs will be created.
• Business wants to measure and report on sustainability: 72% of investors said they conduct a structured, methodical evaluation of nonfinancial disclosures that relate to the environmental and social aspects of a company’s performance.

Three ways business can help meet global climate goals

2. A tipping point for virtual experiences

Are you part of the small but growing group of consumers interested in using digital currencies, the metaverse or buying a virtual product? Nearly 1 in 10 consumers have. This may not seem like a large piece of the pie, but interestingly, this baseline level broadly reflects where e-commerce was five years ago. In 2017 e-commerce had a 10% share of retail, which has since doubled. That was enough for some observers to predict the end of high street shopping. Is the virtual consumer industry at a similar tipping point?

Future Consumer Index: In crisis, but in control

3. From cell numbers to research papers

Higher-ed institutions house a wide range of sensitive data, including student identities, personal account information, financial details and health care information. From students’ cell phone and account numbers to academic research findings, it’s vital that universities safeguard information with the highest level of security available. One US institution decided to do just this. The university’s cybersecurity program design created new policies and governance, created staff training and a managed security operations center — aligning scattershot processes and saving university administrators time, manual effort and worry. The system is geared to protect students’ privacy by limiting access to their personal data.

The results speak for themselves:

• 47,000 students’ data better secured
• 20,000 employees’ data better secured
• 168% increase in effectiveness of monitoring guidelines
• 200 risk events tracked
• 16 new policies

Why cybersecurity should be required reading for higher education

4. In need of a refreshment?

After two large mergers, a global beverage company became a powerhouse with nearly 100 brands and dozens of manufacturing facilities. But operations were inefficient and burdensome: two separate SAP systems, three warehouse systems and inconsistent manufacturing practices. These operational complexities drove the beverage company’s costs much higher than those of its competitors. They needed a refreshment (pun intended).

The solution involved integrating manufacturing and warehousing from three systems to one, standardizing and modernizing the supply chain and then to top it off EY assisted with automating a storage and retrieval system and implementing laser-guided vehicles to handle movement of products within each warehouse. Since 2016, the company has seen significant achievements: savings of over $100 million globally in manufacturing, planned savings of $30 million a year in warehouse efficiencies, a $4 million saving from a reduction in the waste of finished goods, and a 10-percentage-point increase in overall equipment effectiveness. Ah, that’s better.

How a beverage company added refreshment to its supply chain

5. COVID-19 mobility tracker updated

Are you off on holiday, visiting family or friends abroad or taking a must needed work trip? Stay in the know with the EY global immigration tracker which helps you monitor rapidly emerging mobility issues related to COVID-19. It’s just been updated with the latest entry restrictions, admission criteria and heightened eligibility criteria for visas. Announcements change quickly so make sure you have the latest information.

How COVID-19 is disrupting immigration policies and worker mobility: a tracker

If you do one thing:

Stay up to date. Trends, innovation and issues move quickly so make sure you’re well informed.

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