News

FACEIT, the world’s leading platform for competitive online gaming, has today announced a multi-million dollar partnership with Cake DeFi, one of the world’s fastest growing crypto fintech platforms, which allows users to earn cash flow from their crypto. Facilitated by Pivot Agency, the collaboration will provide Cake DeFi with authentic brand exposure to all FACEIT users globally through a series of bespoke and multifaceted gaming experiences which will offer the community a chance to win crypto. This year Cake DeFi will be offering players more than half a million dollars in prizes, paid in crypto. Research suggests that 55% of the Millennials gamers own crypto as compared to just 5% of all Millennials, illustrating the natural connection between the gaming and crypto industry. The partnership with FACEIT marks Cake DeFi’s first move into the gaming and esports space. The agreement will offer the company access to FACEIT’s 25 million user base, the largest network of competitive gamers, and will offer players a unique opportunity to earn actual crypto prizes while playing. Furthermore, through Cake DeFi’s platform and access to decentralised finance applications, they can compound their winnings and earn returns on their crypto. Michele Attisani, Co-Founder & CBO of FACEIT said: The FACEIT platform is home to the largest community of competitive gamers, which means we have a unique understanding of this audience. Our users are incredibly forward thinking and educated when it comes to crypto, so the partnership we chose had to bring tangible and substantial value to be of interest. The collaboration with Cake DeFi is much more than brand integration, and offers our community clear experiential and financial benefits which go beyond what any partnerships of this type has delivered before. FACEIT users are core gamers who spend an average of 2.5hrs a day on the platform. A recent survey of FACEIT users found that many were already interested in, and investing in crypto, showing a natural synergy between both brands and industries: • They are innovative thinkers with 66% agreeing that cryptocurrencies are the future of online transactions • 80% have heard of Crypto • 36% invest in Crypto • 46% very Likely or Likely to use

Crypto in next 12 months - 4x more likely than the general population to use Cryptocurrency for online purchases The partnership will incorporate Cake DeFi Missions, involving in-game tasks and monthly challenges for players to complete in order to win crypto prizes. It will also include Cake DeFi Weekly Tournaments which will run throughout the year and will be open to FACEIT players around the world. Players will be able to earn even greater rewards on the crypto they win when they sign up to Cake DeFi. All crypto prizes are redeemable through their Cake DeFi account, allowing FACEIT to expand its current play-to-earn offering. Speaking about the partnership, Dr. Julian Hosp, CEO and Co-Founder of Cake DeFi said, “Gamers have a natural affinity with crypto and they can now join us on the DeFi movement. Cake DeFi’s partnership with FACEIT will allow players to earn crypto while they game, and further earn returns on their crypto through our platform. In 2021, we paid out US$230 million in rewards to our customers. So it’s a win-win-win for FACEIT gamers.” Cake DeFi is the leading crypto fintech platform that provides users access to DeFi (decentralised finance) services and applications such as liquidity mining, staking and lending, which generates regular returns for users. They currently manage over $1 billion in customer assets and offer users one of the highest returns on crypto in the market, as a one stop platform that is easy-to-use, secure and transparent. Last year they paid out $230 million in rewards to customers and this year they are looking to increase this to 74% more, or $400 million, in rewards. To find out more about Cake DeFi please visit: www.cakedefi.com

Brexit two years on: Over 75 per cent of project managers are concerned APM research highlights project manager’s hopes, expectations and current concerns

Research by Association for Project Management (APM) [apm. org.uk] has found over three quarters of project professionals still have concerns about Brexit’s impact on projects, with increased costs, disruptions and shortages among the main sources of worry. A national survey of 1,000 project managers found that 78 per cent have current concerns about Brexit, most notably: increased project costs (38 per cent), disruption to collaboration with EU partners (37 percent) and materials and equipment shortages (37 per cent).

Challenges foreseen The same survey showed participants’ worries are mostly consistent with the challenges they anticipated before Brexit happened, pre-January 2020. Increased project costs and disruption to collaboration were the most commonly cited concerns at that time. Key shortages ranked fifth in their predictions (36 per cent), however, behind complications due to legislation and legal issues (37 per cent) and reduced access to skills and knowledge (36 per cent). Among project managers who still have concerns over Brexit, those working in construction say disruption collaborating with EU partners is their biggest Brexit-related worry. In manufacturing, shortages of materials or equipment is the main concern. Those working in healthcare point to project delays as the main anxiety.

An optimistic outlook Despite current Brexit-related concerns, a similar survey commissioned by APM in July 2021 revealed the effects of Britain leaving the European Union as the second biggest opportunity for the project management profession, after new ways of working. The recent survey found the most anticipated opportunities from Brexit, pre-January 2020, to be improved access to materials and equipment (37 per cent), reduced complications with legislation and legal issues (36 per cent), revamped supply chain management (36 per cent) and quicker project delivery (36 per cent). Adam Boddison, chief executive of APM, comments: “Through years of expertise, collated in APM’s latest study, Dynamic Conditions for Project Success [https://www. apm.org.uk/media/50481/apm-dynamic-conditions-for-project-success-2021-v2.pdf], we know the ingredients for a job well done, and they’re what have helped and continue to help the profession navigate the impact of Brexit, among the many other challenges added into the mix since January 2020. “Challenges are more manageable with strong leadership, clear communication, a diverse team, a sustainable mindset and agility. Therein lies part of the lesser recognised opportunities from Brexit: a chance to overcome adversity and be better at what we do as a result.”

Aviation innovation: The new platform transforming private aviation

More passengers than ever are turning to private aviation as an alternative to the stress, crowds and inconvenience of commercial flights – but modernisation is urgently needed in order for private travellers to secure the flights they need quickly. One industry innovator has set out to tackle this issue, and it’s set to transform private aviation: for brokers, operators and passengers alike. AeroBid is a new live bidding platform, launched to modernise the private charter booking process. Using data and instant communications, it brings a fast, transparent and convenient way for brokers to request charters for their clients, and for operators to receive and bid on live flight requests. For broker’s, it’s a breath of fresh air: a fast, reliable and fully transparent way to access the right flights for their clients. For operators, it’s a route to access a broader audience and tap into a growing pool of private aviation clientele. As for passengers, it’s the best way to ensure that their brokers are securing the flights that best fit their criteria, fast: including aircraft specification, locations and added extras. It’s AeroBid’s real-time bidding that will be truly transformative for the industry, and its growing number of clients. Brokers can submit detailed flight requests, including aircraft specifications, destinations and special requests. In addition to seeing live flight requests on the Platforms Marketplace, Operators can also choose to receive instant notifications by text or email and can bid anonymously, in real-time, for the charter. With those anonymous bids being placed and received in realtime, AeroBid avoids the problems associated with static private charter marketplaces, such as price inaccuracy – ensuring that passenger requests are met quickly by brokers, with flights tailored to their needs. The platform was designed by experienced business aviation experts, who recognised the need for an instant, data-driven bidding platform to help the industry cope with increased interest in private flights and enable everyone involved to benefit from a fully transparent request and bidding process. Zaher Deir, CEO and founder of AeroBid, comments: “Passengers need to feel like requesting and securing a charter via a broker is a quick, simple process, that is always going to result in exactly the flight specification they want: whether it’s a particular aircraft, travel time or location. With AeroBid, we’ve created a data-driven platform that benefits brokers and operators, as well as the passengers who ultimately benefit from faster bookings. We can’t wait to see the difference it makes to private aviation in the near future.” To find out more about AeroBid and how it’s set to transform the business aviation industry, visit their website or call +441865819991.

UK companies attract 18% of Europe’s total investment in cleantech

With over half of total investment in cleantech going to energyrelated companies, the UK is a key driver for the future of global environmental and sustainable energy sources

Arecent report has revealed the UK to be a leading nation in cleantech, in a year that was a recordhigh year for investment in cleantech globally. £134 billion was injected into the sector in 2021 – 4.4% higher than the previous record year of 2018. The report finds that UK cleantech attracts 18% of Europe’s total investment. Plus, almost a quarter (23%) of the 8,500 companies in Europe who create technology in renewable energy, decarbonisation, agricultural technology and related sectors come from the UK. Energy-focused industries make up three of the top five UK sectors in terms of cleantech and climate tech funding. Collectively, they’ve benefitted from over £41.5 billion in financial support since the turn of the century. The report was created by IP specialists and R&D tax credit experts GovGrant to discover which UK companies are attracting most funding for their green innovations. Cleantech companies in energy production have the highest level of investment in the UK’s green technology landscape, benefitting from over £20.16 billion in investment since 2000. Coming in second are energy asset cleantech companies – including wind and solar farms – receiving £17.99 billion. Alternative energy equipment companies – such as manufacturers and providers of solar panels and hydroelectric equipment – also rank in the top five, attracting £3.44 billion.

The global picture: rise of cleantech investment

As the case for climate change solutions becomes more and more compelling, with a recent UN report warning of irreversible change, financial support for the sector grows and grows. Data analysed by GovGrant reveals that there’s been a 2,384% global increase in capital injected into cleantech companies since 2002. This century, 3.07% of total capital invested worldwide has gone into climate change solutions. The percentage is even higher in Europe: 4%. In the UK, it sits slightly lower at 2.44%. Although the amounts invested in cleantech – when compared to investments across all areas – seem relatively modest, the number of investors is high. Worldwide, 8.33% of all investors are involved in cleantech. In the UK, the figure is 6.05%. This indicates a growing appetite for placing money in climate change solutions. Energy-related industries also dominate cleantech investment around the world. Globally, energy-related companies

Top 5 UK industries receiving cleantech investment

receive over 43% of overall clean tech investment, with energy production receiving £305.4 billion since 2000.

Adam Simmonds, investment research analyst at GovGrant, says: “As climate change action becomes increasingly urgent, it’s no surprise that investment in cleantech is soaring. However, the level of growth is still remarkable. “The strength of the sector in the UK is also really pleasing. Clearly, our cleantech sector, helped by tax credits, is flourishing. It’s going to be exciting to see where the industry goes and what rising investment can do for the future of the planet.”

Tom Mason, CEO at clean energy startup Bramble Energy, says: “With the serious social pressure that has been building over the last few years for change around our impact on the planet and a focus on the need for clean air and sustainable choices, politics has had to listen and we are finally starting to see a shift in rhetoric towards clean energies and how important their role will be in the fight against climate change. Regulatory moves looking to restrict fossil fuel use are starting to be put in motion, and are only likely to grow with industry looking for matured energy technologies that can work with their needs. The great thing is the UK is already uniquely placed with its renewable resources, particularly wind to deliver a stable clean energy market for years to come.”

David Hunt, founder and CEO of global cleantech sector acquisition specialist Hyperion Executive Search, says: “Put simply, founders and investors are finally seeing the massive local and global growth opportunities in clean technologies, as they are increasingly cheaper and better than dirtier, traditional alternatives. Yet the largest barrier to progress the sector is facing regardless of investment is the talent shortage. Workers are at the heart of the clean energy transition as employment in the energy sector is set to increase to 100 million by 2050. Without the people to actually drive the transition forward, longterm ambitions can’t be realised.”

ShelfNow Becomes The World’s First Blockchain-Enabled Marketplace

B2B online marketplace ShelfNow announces the launch of blockchain integration throughout its intelligent platform to become the world’s first blockchain-enabled marketplace, promoting transparency, sustainability, accountability and ethical operations. In partnership with Trackgood, a New Zealand software company, ShelfNow is introducing blockchain capabilities to its platform to optimise transparency and ethical practices for its producers and buyers. By scanning a QR code on their smartphones, buyers can discover the places and faces of those involved in the supply chain. Available documents include images of the production process, profiles of those involved, quality certificates, lot numbers, and travel documents. The certified public information is counterfeit-proof due to the symbol blockchain protocol, whose operational function is a cryptographic hash that confirms authenticity. For producers, the company is launching a programme to support its producers to implement blockchain into their operations as part of its continued efforts to support SMEs. Furthermore, buyers can also utilise the data-led marketplace to tailor their search for producers that share the same principles as them. Caffè Barbera is one of the ShelfNow producers optimising its presence on the marketplace through the introduction of blockchain transparency. Elio Barbera, Managing Director of Caffè Barbera, commented: “Blockchain has enabled us to validate our supply chain and share the journey of our coffee - from the plantation to the cup - with our customers. ShelfNow is a fantastic partner to work with as it provides us with the guidance to modernise our practices, as well as ensuring that buyers that share our ethical principles can easily find our products on the marketplace.” With a 230% rise in the number of organic, fair trade and sustainable brands on the platform over the past year, ShelfNow prioritises partnerships with ethical producers. Blockchain will enable producers to provide evidence for ethical claims in the most reliable and transparent way. Philip Linardos, Co-founder and CEO of ShelfNow, said: “As consumers are becoming more aware and interested in ethical brands, there is a greater demand from buyers to work with transparent and ethical producers. The integration of blockchain technology will allow us to lead the way in enabling our buyers to discover like-minded producers and see proof of ethical claims that brands make. Furthermore, we are excited to be launching a programme to support our producers to introduce blockchain technology into their small businesses - something that would be difficult for SMEs without our support.” John Hussey. Founder of Trackgood said: “It is not good enough for brands to have sustainability strategies alone as they increasingly need to be showing consumers what they are doing for society and the environment. A staggering 95% of 5,300 home and family products struggle to substantiate their ethical production claims and 88% of consumers want brands to help them improve their social and environmental footprint. With Trackgood, businesses can provide transparent insights on their supply chains and showcase the positive impact they are having in supporting ethical and sustainable production.”

Cambridge companies square up to innovation stagnations

New research has highlighted the challenge of maintaining innovation-fuelled growth in the new hybrid working environment. A survey of current working practices carried out by Cambridge Ahead – a membership organisation of nearly 50 major employers in the city – found widespread concern that hybrid working has reduced the opportunities for people to connect beyond their immediate team. Collaboration between teams and with other organisations was more likely to have worsened than improved. The research found a major shift to remote working with time spent in the workplace falling to 2.5 days on average in the last six months – down from 4.7 days on average before the pandemic. On average, that was expected to increase to 3 days over the next 12 months. Hybrid working was seen to have been better for the environment and for the organisation’s productivity and financial position but worse for collaboration, professional development, company culture, recruitment and some people’s wellbeing. Of those looking to boost collaboration over the next 12 months, most effort is focused on supporting culture through encouraging behaviours and setting policies, management activities such as better co-ordination and communications, and adoption of new technology. Very few respondents were planning to change their workplace locations, create new spaces, or reconfigure interiors at this stage. Commenting on the findings, Jane Paterson-Todd, CEO of Cambridge Ahead, said: “We know that Cambridge’s strength as a high-growth economy lies in its networks between individuals and organisations, which drive cross-fertilisation and creativity. Now, as people spend more time working from home, either in the area or increasingly elsewhere in the country, the nature of the networks that have fuelled the Cambridge eco-system is changing. “It’s this kind of impact that we’re looking to spot and address through our New Era for the Cambridge Economy (NECE) project. We’re investigating how new behaviours driven by the pandemic may change the way the Cambridge economy functions, and identifying what needs to happen to put our city – and others like it – in the best position to thrive sustainably.” Dr David Cleevely, entrepreneur, Cambridge Angel and Chair of the NECE Steering Committee, said: “Cambridge companies have a long history of achieving huge competitive advantage through innovation, from commercialising scientific breakthrough to reinventing business models. We can’t underestimate the role that chance meetings have played in Cambridge’s ability to pursue ideas that change the world. Increasingly, we may need to process engineer our serendipity, finding new ways to ensure we continue to work together, design space and connect in the city of ideas. “The NECE project is an example of influential organisations coming together in a high-growth city to adopt an anti-fragile way of thinking and operating – not just attempting to become more resilient and robust, but also seeking to use a shock like Covid to learn, adapt and improve our economy and quality of life.”

Key findings include:

• Survey respondents reported employees spent 2.5 days a week in the workplace on average over the six months to November 2021 (down from 4.7 days before the pandemic). Respondents expected that to increase to 3.1 days on average over the next 12 months. • More than half of respondents reported that at least some employees were now allowed to choose where in the country to base themselves, and more than a quarter said some employees were allowed to base themselves abroad. • While just over a quarter thought collaboration within their team had improved, the same amount thought it had worsened. Getting on for half thought collaboration between teams within their organisation had deteriorated, and more than a third thought collaboration between organisations had worsened. • Respondents were optimistic about the future, expecting a positive impact on all the factors measured in due course, suggesting that people see the current time as a period of transition.

Five years on from Brexit Article 50: Are European businesses prepared for the 1 January 2023 deadline?

March 29th marked the 5th anniversary since the UK triggered Article 50, beginning the process to exit the EU. Five years on, and the UK has now formally left. But for many European businesses and manufacturers, the challenges of adapting to the necessary changes are still ongoing, with some unsure of the requirements for continuing to supply goods to the UK. Adrian Rudd, from NMi, the leading measurement institute in the Netherlands, offers advice on how businesses can navigate the new regulatory processes, comply with the correct rules and adhere to deadlines.

From CE to UKCA

One of the most significant changes caused by Brexit, which is set to affect many manufacturers, is the replacement of the CE marking for UK market entry. Before the UK left the EU, the CE marking was used across Europe as a guarantee to consumers that suppliers or manufacturers had met a set of standards and requirements. For nearly 20 years, the CE marking was recognisable, offering consumers peace of mind. It was a system that worked well and indeed still does in the EU. That’s why the British Government has decided to replicate this level of protection for consumers, taking the same requirements and rules to form the basis for the UK Conformity Assessed (UKCA) marking. Initially, manufacturers were expected to meet the UKCA requirements by 31 December 2021 for UK market entry. However, this was pushed back to 31 December 2022 by the UK government when it became clear, due to such challenges as the Covid pandemic, that the necessary changes would place undue pressure on the industry when trying to deal with the impacts of the global health crisis. For many manufacturers operating in the EU and UK markets, the change was made more complex as bodies registered in Europe and designated to conformity assess against CE requirements (i.e. Notified Bodies) could not become a UKCA Approved Body. Conversely, UK-based bodies were appointed as UKCA approved bodies but lost their ability to provide CE conformity assessment services. Finding a Body able to approve both markings at the same time has subsequently become a key factor for many businesses looking to retain access to both the EU and UK. NMi, for example, has set up an office in the UK and gained the applicable UKAS accreditations, leading to its appointment by the UK government as a UKCA Approved Body. This appointment exists alongside its role as a European Notified Body based in the Netherlands.

What’s needed for both markings?

The technical processes for both approvals are currently the same and require two identical tests. Depending on regulatory requirements, products may need Declarations of Conformity (DoC). Other products covered by regulations may need type evaluation, where they are tested by the Body to make sure they meet requirements, with the type being formally certified. An assessment of the manufacturing system may also follow this to ensure that products are capable of being produced according to the type evaluation and that each can meet performance requirements. Again, the manufacturer will gain certification when the assessment is satisfactory and is then able to have the relevant markings applied to products completing the manufacturing process. As with the CE, the products covered by the UKCA are wide-ranging, varying from phone chargers and game consoles to bike helmets, sunglasses, and teddy bears. For a complete list of products and requirements, please visit https://www.gov.uk/guidance/ using-the-ukca-marking . For manufacturers selling into Northern Ireland, there is a choice of meeting CE or UKNI requirements, though the current technical requirements are the same. The most important point for manufacturers is that the time to act is now. This is particularly pertinent for manufacturers operating in the measuring instrument sector, as from April the UK National Measurement Office (NMO) will no longer provide CAB services. This means former NMO customers will now need to turn to other UKCA Approved Bodies, such as NMi, for any necessary UKCA services. It is also not yet clear what will happen, from a UK market enforcement perspective, to companies that fail to comply by the deadline. Still, it would be fitting to assume that failing to meet the requirements is not in accordance with UK regulations. At a minimum, delaying UKCA could hinder doing business in the UK.

Mortgage borrowing still above pre-pandemic levels but rising rates and tighter criteria set to dampen lending

Net borrowing of mortgage debt by individuals increased to £7.0 billion in March, up from £4.6 billion in February, data from the Bank of England revealed today. That is well above the pre-pandemic average of £4.3 billion in the 12 months up to February 2020. Gross lending rose slightly to £26.5 billion in March from £26.0 billion in February, while gross repayments fell to £19.7 billion in March from £21.0 billion in February. Adrian Lowery, financial analyst at investing platform Bestinvest, says that recent monthly mortgage lending data has been extremely volatile. But as can be seen from the BoE’s graph in the release, lending is still well above pre-pandemic levels, as average UK property prices have been steadily increasing - while house purchase numbers are fairly steady around the 71,000-a-month mark (compared to a pre-pandemic 12-month average of 66,700). ‘As house prices stabilise and lenders tighten their mortgage availability criteria in the coming months, the trend is likely to return closer to levels seen before the pandemic disrupted the property market in a quite unpredictable manner. ‘A detail in the release reveals that the “effective” interest rate – the actual interest rate paid – on newly drawn mortgages increased by 14 basis points to 1.73% in March, while the rate on the outstanding stock of mortgages ticked up 2 basis points to 2.04%. Confirming that homebuyers and remortgagers are facing higher loan rates - as well as stricter borrowing rules. ‘The Bank of England’s quarterly credit conditions survey last month noted that lenders expect loan defaults to rise over the coming months and also plan to rein in mortgage lending by the greatest amount since the early days of the COVID19 pandemic. That report showed lenders expect more defaults on mortgages (as well as unsecured consumer lending and business loans) in the three months to the end of this month. ‘Despite this the bank has suggested it could dilute a required stress test that states borrowers must be able to afford a three percentage point increase in their mortgage rate. The new stipulation will be 1.5 percentage points. That might seem a contrary move given the expected upwards path for interest and mortgage rates in the medium-term. ‘Two of the UK’s biggest mortgage lenders have tightened their criteria for borrowers seeking larger loans. HSBC now requires those who apply for a mortgage at 4.75 times their annual income to earn at least £50,000 a year, up from £40,000. Those who earn less will be limited to a maximum of 4.49 times their income - a typical limit on home loan size. ‘Nationwide meanwhile has increased the minimum salary required to apply for its “Helping Hand” mortgage range, which offers loans at up to fiveand-a-half times income. Single applicants now need to earn £37,000 (up from £31,000) and couples need to earn £55,000 (up from £50,000). ‘But, especially in the current climate of rising costs across the board, homebuyers and remortgagers should be careful not to overstretch themselves, even if a broker or lender can arrange it. A good rule of thumb is that no more than a third of total household post-tax income should be taken up by housing costs, whether that is rent or mortgage payments.’

Lufthansa Group BusinessToGo in partnership with TripActions launched as new innovative travel solution for small and medium businesses

Lufthansa Group airlines and TripActions today announced an innovative, all-in-one business travel platform for small- and medium-sized companies. The pioneering, user-friendly solution provides direct access to flight, accommodation, rail, and car rental content elevated by a fast and personalized booking process that leverages advanced technology and enables access to all attractive NDC offers. With the launch, the two companies are implementing an important part of their joint vision to proactively shape the landscape for managed travel in the new, increasingly digital corporate customer relationship. “I am delighted that today we are going live with a completely new booking and servicing platform for the first time since more than a decade,” says Tamur

Goudarzi Pour, Senior Vice President Channel Management at Lufthansa Group Network Airlines and Chief

Commercial Officer SWISS. “We’re bringing the seamless travel experience for our corporate customers to a new industry leading level thanks to our strategic partnership with TripActions. As an emerging global leader in digital travel management TripActions is the ideal partner for us to launch this 360-degree travel solution.” Corporate clients can choose between two BusinessToGo platform tiers depending on individualized needs: an Essentials and a Premium package. In both versions, corporate clients can access the entire range of flights from the Lufthansa Group and its joint venture partners, as well as a broad range of hotel, train, and rental car content from TripActions. Customers also benefit from enhanced policy and profile management, TripActions hotel negotiated rates, duty of care and CO2 emissions reporting, real-time management information, 24/7 support and centralised billing, all of which enables the holistic management of a company’s travel programme. In addition, members of the Lufthansa Group’s PartnerPlusBenefit program have the opportunity to collect points directly via the booking platform and redeem them online. With the Premium package, corporate customers are offered enhanced on-boarding and support in configuring the platform if needed, in addition to access to the offers of other airlines. For the fee charged per trip in the Premium package, corporate customers can make unlimited use of the servicing support provided by TripActions. “With the launch of the new travel solution we’re providing unmanaged small and midsize corporate customers the ability to use an innovative and modern business booking platform that combines the latest technologies and a wide range of flights, hotels, and rental cars with the advantages of PartnerPlusBenefit,” adds Stefan

Kreuzpaintner, Senior Vice President Sales for Lufthansa Group Network Airlines and Chief Commercial

Officer of Lufthansa Airline. “We are excited to see the results of a winning collaboration between TripActions and Lufthansa Group airlines go live after our initial announcement in December,” says Danny Finkel,

Chief Commercial Officer at TripAc-

tions. “This product is a great example of the way in which world-leading technology can join with world-leading support and service to help forever change the value equation for corporate travelers. We are grateful for Lufthansa Group airlines’ pioneering vision and partnership that allowed us to build this industry-first product in such a short time.” Corporate customers can learn more on the Lufthansa Group for Business and PartnerPlusBenefit websites, and register directly at tripactions.com/ businesstogo. Lufthansa Group BusinessToGo in partnership with TripActions is available immediately in the DACH home markets of Lufthansa Group airlines (Austria, Germany, and Switzerland) as well as in Belgium and will be supplemented with further offers and functionalities over the course of the year, which includes benefits such as upgrades, corporate products and additional languages. The platform will be rolled out successively in additional markets.

More Industrial Hubs to Accelerate Their Net-Zero Transition

Davos-Klosters, Switzerland, 24 May

2022 – Four leading industrial clusters in the Netherlands, Belgium and the US today announced that they are working together with the World Economic Forum to reduce their carbon emissions faster through the Transitioning Industrial Clusters towards Net Zero initiative. Launched at COP26 in November 2021, the initiative aims to accelerate the decarbonization of hard-toabate industrial sectors, while maximizing job creation and economic competitiveness. The approach focuses on building cross-industry and cross-cluster partnerships to better implement low-carbon technologies – as in the case of the regionally developed Basque Hydrogen Corridor – and on accessing public funding and blended-finance options for clusters’ decarbonization projects. Under this initiative, the World Economic Forum, working closely with Accenture and the Electric Power Research Institute (EPRI) as knowledge partners, connects private and public stakeholders to assess how to meet individual and collective decarbonization goals, fosters new enabling policies and provides guidance and support for local community engagement. Industrial clusters are geographic regions where industrial companies are concentrated, making them an attractive target for impactful emissions reduction strategies. Since industrial assets are located in close proximity of each other, sharing of infrastructure (such as CO2 and hydrogen pipelines or renewable energy assets), financial and operational risks, and natural and human resources becomes possible. This also provides opportunities to deploy and scale new green technologies, such as hydrogen and the capture, utilization and storage of carbon for industrial applications, enabling a systemic approach to emissions reduction. The clusters joining the initiative are: • Brightlands Circular Space, together with Brightlands Chemelot Campus,

Chemelot, and the Chemelot Circular Hub in Geleen, Netherlands. It will help accelerate the energy transition and circular economy. • H2Houston Hub, formed through the Center for Houston’s Future and encompassing more than 100 organizations and companies. It will leverage the Houston area’s position as the US’s largest hydrogen producer and consumer, and use innovation and scale to reduce the cost of clean hydrogen and emissions. • Ohio Clean Hydrogen Hub Alliance, with approximately 100 corporate, governmental and community organization members. It will lead the region’s campaign to