Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The report discusses the significant volatility in commodity markets, particularly in energy, metals, and polymers, with sharp price increases observed from the end of 2021 through 2022, followed by price decreases in 2023 and 2024 [4] - Purchasing organizations are now required to adjust commodity and component prices back to a "fair price" level based on actual raw material costs and energy price developments [4] - The introduction of a spend digital twin is highlighted as a transformative tool for procurement, enabling buyers to gain a clear and real-time view of fair market prices [4][5] Summary by Sections Spend Digital Twin Overview - A spend digital twin allows for a comprehensive analysis of spending, enabling detailed examination of cost drivers at the category level and assessing market developments over time [4] - This tool helps establish a fair market price index that can be compared against actual price progression to identify negotiation points [4] Applications of Spend Digital Twin - Identifying negotiation potentials by comparing fair market price indices with actual price changes [7] - Preparing for supplier negotiations by calculating clawback opportunities and fair price adjustments [7][8] - Supporting the derivation of indexation contracts by analyzing historical price developments relative to fair market indices [8] Performance Measurement and Stakeholder Communication - A spend digital twin aids in measuring purchasing performance and separating market movements from negotiation performance [9] - It facilitates sharing information with cross-functional stakeholders, particularly the sales department, to inform pricing strategies based on cost developments [9] Implementation and Value Capture - Setting up a spend digital twin can take several weeks to months, depending on the model's complexity, but even a basic setup can provide valuable insights [9] - The report emphasizes that leveraging a spend digital twin can enhance procurement strategies, drive cost efficiencies, and sustain competitiveness in fluctuating market conditions [9]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The complexity of board roles and responsibilities has increased significantly, with two-thirds of surveyed directors acknowledging this trend [4][6] - Effective collaboration between boards and CEOs is crucial for enhancing organizational value, yet only one-third of respondents report effective collaboration [7][23] - Directors are increasingly prioritizing collaboration with management teams to navigate growing complexities [6][23] Summary by Sections Board Complexity - The business environment is more unpredictable, leading to an expansion of topics on board agendas, including technology trends, cybersecurity, and net-zero transitions [5][4] - The average number of days directors dedicate to board-related activities has increased from 25 in 2019 to 30 in 2023 [6] Collaboration Tactics - 59% of directors are strengthening collaboration with management teams, while 52% are dedicating more time to board work [6] - Effective collaboration is linked to higher perceived impact on long-term value creation, with effective collaborators being twice as likely to report high impact [11] Enhancing Collaboration - Establishing efficient board processes is essential, with effective collaborators being 2.4 times more likely to report efficient meeting management [16] - Prioritizing communication between boards and CEOs is critical, as misaligned agendas and poor information sharing are major barriers to effective collaboration [20][21] - Fostering a culture of trust and respect within the boardroom enhances collaboration, with effective collaborators more likely to engage in team-building activities [22]

Investment Rating - The report indicates a strong potential for the autonomous trucking industry, projecting a market size of approximately $600 billion by 2035, with significant growth opportunities driven by technological advancements and economic factors [1][15]. Core Insights - Autonomous vehicles (AVs) are expected to address critical challenges in the trucking industry, such as driver shortages and rising transportation costs, although their widespread adoption may be delayed by about a year [2][3]. - The report outlines two primary use cases for autonomous trucking: constrained autonomy (hub-to-hub operations) and full autonomy (direct distribution center-to-distribution center operations) [5][7]. - The total cost of ownership (TCO) for autonomous heavy-duty trucks is projected to decrease significantly, with potential savings of up to 42% per mile for long-distance routes [13][14]. Summary by Sections Industry Overview - The autonomous trucking market is projected to reach $616 billion by 2035, with significant contributions from China, the United States, and Europe [15][19]. - The U.S. is expected to have the fastest adoption rate, with 13% of heavy-duty trucks being autonomous by 2035, driven by high driver salaries and long distances [18][20]. Economic Factors - The U.S. faces a shortage of over 80,000 truck drivers, a number expected to double by 2030, while Europe anticipates a shortage of 745,000 drivers by 2028 [3][4]. - Transportation costs have risen significantly, with logistics costs as a share of GDP increasing from 7.5% in 2020 to 8.7% in 2023, creating a financial incentive for the adoption of autonomous trucking [3][4]. Technological Requirements - Autonomous trucks require advanced hardware and software, including sensors, high-performance computers, and AI-driven decision-making systems [4][24]. - Major challenges include the need for reliable detection systems and the availability of essential components like LiDAR and redundant braking systems [4][24]. Use Cases and Adoption - The report identifies two overlapping use cases for autonomous trucking: constrained autonomy for hub-to-hub operations and full autonomy for direct routes between distribution centers [5][7]. - The transition to full autonomy is expected to occur gradually from 2027 to 2040, with initial operations focusing on highways and geofenced areas [6][8]. Financial Implications - TCO benefits will vary by route length, with significant savings expected for longer routes (over 1,500 miles) due to reduced driver costs and optimized operations [12][13]. - The report suggests that as technology matures, the cost of autonomous systems will decrease, further enhancing TCO advantages [14][20]. Market Dynamics - Two emerging business models for autonomous trucking are identified: Driver as a Service (DaaS) and Capacity as a Service (CaaS), each offering different operational and financial implications [21][22]. - The report emphasizes the need for collaboration among OEMs, technology developers, and infrastructure providers to facilitate the successful deployment of autonomous trucks [23][24].

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10923 Thirsty Business A Global Analysis of Extreme Weather Shocks on Firms Roberta Gatti Asif M. Islam Casey Maue Esha Zaveri Middle East and North Africa Region & Planet Vice Presidency September 2024 Public Disclosure Authorized Policy Research Working Paper 10923 Abstract Using global data from the World Bank's Enterprise Surveys that includes the precise geo-location of surveyed firms, t ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Education and skills are critical determinants of earning potential, with sector specialization significantly influencing earnings. The study focuses on vocational training in high-paying sectors, specifically information and communications technology (ICT) and energy in Côte d'Ivoire [4][10] - A majority of individuals seeking vocational training aspire to enter high-paying sectors, with 72% of men and 51% of women expressing interest in ICT or energy [4][13] - Higher levels of education and larger professional networks positively correlate with the likelihood of selecting training in these high-paying sectors [4][13] - Women benefit significantly from male role models, which increase their likelihood of choosing training in ICT or energy, while traditional gender roles can hinder their participation [4][13][15] Summary by Sections Introduction - The report highlights the importance of skills in economic transformation, emphasizing the shift from low-productivity activities to higher productivity occupations [10] - It notes the significant dropout rates in secondary education in Côte d'Ivoire, with only 55% enrollment compared to 93% in primary education [10] Labor Market Context - As of 2023, the female labor force participation rate in Côte d'Ivoire is 56.5%, compared to 72.2% for males, indicating persistent gender disparities [16] - The report discusses the high incidence of vulnerable employment, with 80.8% of employed women engaged in informal work [16] Technical and Vocational Education and Training (TVET) - Only 5% of secondary education students are enrolled in vocational programs, and just 2% of 15-24-year-olds participated in TVET in 2018 [17][18] - The report identifies the need for improved quality in TVET, including updated curricula and better alignment with industry requirements [18] PRO-Jeunes Program - The PRO-Jeunes program targets youth aged 15 to 30, providing flexible employment support services and vocational training in high-paying sectors [19][24] - Among participants, 72% of men and 51% of women chose training in energy and ICT [25] Data and Sample Description - The study is based on surveys conducted with 2,528 individuals seeking vocational training, focusing on socio-demographic characteristics, education, employment, networks, role models, and gender attitudes [27][40] - The sample is balanced in terms of gender, but women generally have lower education levels and income compared to men [42][43] Key Findings - An additional year of education increases the likelihood of seeking training in ICT and energy by 3.2 percentage points for women and 4.4 percentage points for men [13] - Women with prior training in EICT sectors are more likely to pursue further training, indicating path dependency [13] - Traditional gender roles negatively impact women's choices in high-paying sector training, with those prioritizing household responsibilities less likely to opt for such training [13][15]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - IMTS 2024 highlighted four key themes: labor force issues, data management challenges, digital transformation support for SMEs, and the shift from CAPEX to OPEX business models [4][8] - The labor force is facing significant challenges, including a shortage of qualified staff and a rapid exodus of skilled workers, which has led to increased interest in collaborative robots and automation solutions [5][6] - Data management is becoming a critical barrier to productivity and innovation, particularly for SMEs that lack the necessary infrastructure to support complex digital solutions [6][32] - The transition to an OPEX model is gaining traction as companies seek more flexible and scalable operational frameworks [8] Summary by Sections Labor Force Issues - The industry is grappling with a lack of qualified personnel and a diminishing pipeline of skilled workers, leading to a reliance on automation technologies like cobots and AMRs [5][6] - Companies like Rethink Robotics are re-emerging, indicating a vibrant market for collaborative solutions [5] Data Management - Many manufacturers, especially SMEs, struggle with inadequate data infrastructure, hindering their ability to implement advanced digital solutions [6][32] - Major players like AWS and Siemens are working to create interoperable data fabrics to address these challenges [6] Digital Transformation for SMEs - SMEs face unique challenges, including a lack of skilled labor and reliance on paper-based processes, necessitating low-code and no-code solutions for digital transformation [7] - Companies like Hexagon and Siemens are developing tools to facilitate easier implementation of digital solutions [7] Transition to OPEX - The shift from CAPEX to OPEX is becoming more pronounced, with companies recognizing the need for flexible business models that can adapt to changing market conditions [8] - Successful companies will likely be those that can control their application environments and foster strong community contributions [8] Innovations in Automation and Robotics - Collaborative robots are increasingly being used for machine tending and other applications, with companies like Hurco and FANUC leading the way [13][15] - Innovations such as Augmentus' "scan to path" technology are streamlining automation processes, demonstrating significant time savings [14] AI and Data Integration - AI is being leveraged to enhance manufacturing processes, with companies like AWS and Google Cloud showcasing solutions that improve data analytics and operational efficiency [19][20][32] - The integration of AI into manufacturing is expected to address skill gaps and improve decision-making across supply chains [19][20] Supply Chain Innovations - The focus on reshoring and nearshoring is driving innovations in supply chain management, with companies like Acumatica demonstrating tools for Just-in-Time inventory management [42][43]

Investment Rating - The report does not explicitly provide an investment rating for the industry or companies analyzed. Core Insights - The report highlights the importance of brand valuation in understanding a company's overall value and its contribution to strategic decision-making in marketing and branding [5][6]. - Strong brands can enhance business performance by differentiating from competitors, increasing customer loyalty, and allowing for premium pricing [6][9]. - The report emphasizes the growing significance of sustainability perceptions among consumers, with 62% trusting brand sustainability claims, while 79% have reduced consumption of brands perceived as unsustainable [8][9]. Summary by Sections Brand Value Analysis - The top five most valuable brands in Latin America for 2024 are Corona Extra ($10.39 billion), Itaú ($8.33 billion), Banco do Brasil ($5.45 billion), Modelo Especial ($5.24 billion), and Bradesco ($5.01 billion) [23][24]. - Corona Extra is also recognized as the strongest brand with a Brand Strength Index (BSI) of 85.89 and a AAA rating [23][35]. - The report notes that the brand value of Corona Extra increased by $2.96 billion from 2023, reflecting its strong market position [25][26]. Economic Context - Latin America faces significant economic challenges in 2024, including the lingering effects of the pandemic and political instability, yet valuable brands have shown resilience and adaptability [25][26]. - The report indicates that brands that invest in brand management not only strengthen their market position but also contribute to economic recovery in the region [25][26]. Brand Strength Insights - The report identifies the strongest brands based on their BSI, with Banco do Brasil following Corona Extra with a BSI of 79.06 and a AA+ rating [36]. - Modelo Especial has a BSI of 78.90, attributed to its growing popularity in the U.S. market as a premium beer [39]. - Itaú and Bradesco have BSIs of 77.57 and 74.77, respectively, highlighting their stability and reputation in the banking sector [39]. Sustainability Perceptions - The report discusses the importance of sustainability in brand value, noting that brands perceived as sustainable can enhance their reputation and customer loyalty [50][52]. - Corona Extra has a sustainability perception value of 889, reflecting its commitment to responsible production and environmental management [52][53]. - Itaú's sustainability perception value is 573, indicating its efforts in financing renewable energy projects and reducing its carbon footprint [53][56].

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10921 Do More Informed Citizens Make Better Climate Policy Decisions? Michael M. Lokshin Iván Torre Michael Hannon Miguel E. Purroy Europe and Central Asia Region Office of the Chief Economist September 2024 Public Disclosure Authorized Policy Research Working Paper 10921 Abstract This study explores the relationship between perceptions of catastrophic events and beliefs about climate change. ...

Industry Overview - The study focuses on the impact of leadership turnover in local bureaucracies, particularly in Indonesian villages, and its effects on bureaucratic performance and public service provision [1][2] - The research highlights the role of village elections in disrupting nepotistic networks and improving governance at the grassroots level [2][5] Key Findings - Leadership turnover in village elections leads to a revitalization of local bureaucracies, with new leaders appointing more officials, engaging in promotions and demotions, and setting higher salaries [8][34] - Turnover reduces the prevalence of nepotistic networks, with new leaders less likely to employ relatives or bureaucrats with family connections to previous administrations [36][37] - Bureaucrats under new leadership report higher morale and motivation, leading to increased interactions with citizens and better alignment with their needs [40][42] - Electoral turnovers improve the quality of public service provision, particularly in locally managed services such as garbage collection and street lighting [49][50] Mechanisms and Implications - The positive effects of turnover on bureaucratic performance are driven by the disruption of nepotistic networks, which allows for more meritocratic governance and improved service delivery [60][61] - Newly elected leaders who successfully reduce nepotism achieve the most substantial improvements in bureaucratic performance and public goods provision [59][60] - The study suggests that regular, free, and fair elections are crucial for ensuring accountability and improving governance at the local level [68] Data and Methodology - The analysis is based on a large-scale survey conducted in 852 villages across Indonesia, combined with administrative data on public goods provision [6][19] - The study employs a regression discontinuity design (RDD) to estimate the causal effects of electoral turnovers on bureaucratic performance and public service provision [24][25]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The paper challenges the widely held belief that younger generations are more concerned about climate change than older generations, presenting evidence that older individuals may be equally or more concerned about climate change [2][9][46] - The findings indicate that older respondents are more likely to oppose tax increases for climate policies, reflecting a general decline in willingness to pay taxes with age rather than a specific aversion to climate change financing [9][60] - The study utilizes data from 38 countries in Europe, Central Asia, and the Middle East, collected during the 2023 Life in Transition Survey, to analyze the relationship between age and climate change attitudes [2][33] Summary by Sections Introduction - The concept of a "climate change age gap" is introduced, suggesting that younger people are perceived to care more about climate change due to their longer expected lifespan under adverse conditions [6][8] - The paper aims to explore this notion and its implications for climate policy implementation [6][7] Literature Review - Previous studies show mixed results regarding age as a predictor of climate change beliefs, with some indicating younger individuals are more concerned while others find minimal differences [12][14][16] - The literature highlights various socio-structural and psychological factors influencing climate change beliefs across different age groups [12][18] Theoretical Framework - A theoretical model is developed to explain how age-related factors influence perceptions and willingness to act on climate change [21][26] - The model suggests that older individuals may have heightened concerns about climate change impacts due to their increased vulnerability [21][30] Data - The analysis is based on the 2023 Life in Transition Survey, which includes a representative sample from 38 countries, focusing on climate beliefs and actions [33][34] - Key questions assess personal beliefs about climate change and willingness to support government actions through taxes [33][35] Empirical Results - The results show that older individuals are generally more concerned about climate change impacts on future generations but are less willing to pay higher taxes for climate policies [46][60] - A significant age gradient is observed in willingness to support climate change actions, with younger individuals showing higher willingness to pay [44][60] Conclusion - The study concludes that the perceived age gap in climate change concern may be overstated, with older individuals demonstrating significant concern but lower willingness to finance climate actions through taxes [9][60] - The findings suggest that policymakers should consider these dynamics when designing climate policies to ensure broad support across age groups [9][60]