S&P Global — 23 May 2024
Daily Update: May 23, 2024
Caregivers Value Workplace Flexibility
By Nathan Hunt
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No one is only their job. Everyone has responsibilities and experiences outside of the workday. But for people caring for young children or an elderly friend or relative, these responsibilities can be extensive and demanding. A new study conducted by S&P Global and AARP examines the experiences, needs and wishes of family caregivers at work. This report builds on the 2020 S&P Global-AARP report "Something's Gotta Give," published during the height of the COVID-19 pandemic. The survey was conducted online, and the study is based on responses from 1,200 full-time and part-time employees of US companies (with more than 1,000 employees) who provided more than six hours of unpaid care per week to another adult. The survey was fielded during September and October 2023.
Nearly 48 million Americans provide care to an adult family member or friend, and 61% of those caregivers have a job. Caregiving can entail helping a friend or family member with a range of tasks, including daily living activities, medical or nursing tasks, coordinating services and support, transportation, shopping and serving as an advocate. These responsibilities can be stressful, and caregivers worry about their ability to balance these tasks with their job responsibilities. Most respondents (84%) said caregiving had a moderate or high impact on their overall level of stress. About a third of surveyed caregivers (34%) said balancing caregiving with their job responsibilities was their biggest driver of stress.
The most common support that US companies offer employees who are caregivers is access to a flexible work schedule. Forty-five percent of survey respondents reported that flexible work is an available option at their job, compared to 32% in the 2020 version of this survey. This increase is partly due to the changes in work styles following the COVID-19 pandemic, including the increased popularity of remote and hybrid work. Among those US workers surveyed who have access to flexible work schedules, 80% reported that they were using it, and 84% of those who used it described it as very helpful.
This report shows that while employers have made strides in meeting the needs of caregivers in the workplace, there is more to be done. Overall, 67% of survey respondents said their employer's support for caregivers is above average, and 84% agreed with the statement "My company treats caregivers the same as other employees." Among those respondents who intended to leave their employer in the next year, 34% said their caregiving responsibilities were the primary reason why they would leave, with another 41% saying that it was one of the reasons, meaning that care commitments were cited as a driver by 75% of those intending to leave.
Today is Thursday, May 23, 2024, and here is today’s essential intelligence.
EU Elections — Climate Policies Face Populist Backlash
High energy prices and ambitious energy transition goals have taken center stage in European politics. An expected swing to the right in June’s European Parliament elections has already sparked heated debates on EU climate policy. Right-of-center MEPs want to slow down the EU’s front-running on the Green Deal, with cost-of-living warnings about the proposed 2040 targets playing well with voters.
—Read the article from S&P Global Commodity Insights
Your Three Minutes In The UK University Sector: Immigration Restrictions Dent Universities' Finances
A high reliance on international students is becoming increasingly risky for UK universities. This is because heightened geopolitical uncertainty and changes to the UK's immigration policy may affect overseas students' desire to study in the UK In turn, this may reduce UK universities' income from international tuition fees. The UK university sector is also facing pressures from restrictions on tuition fees for domestic students, elevated inflation and the decarbonization agenda. S&P Global Ratings therefore expects the sector's financial headroom to shrink, although the extent of the impact will vary between universities.
—Read the article from S&P Global Ratings
Chinese Banks Face Renewed Margin Pressures After Stable Q1 On Loose Policy
Chinese banks' net interest margins are likely to remain under pressure throughout 2024 despite signs of stability in the first quarter as monetary policy stays accommodative. China's big-four lenders by assets — Industrial and Commercial Bank of China Ltd., Agricultural Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd. — posted year-over-year declines in net interest margins (NIMs) and earnings in the January-to-March period, but the declines were shallower than the previous quarter.
—Read the article from S&P Global Market Intelligence
Summer Heat Promises Continued Retreat For South Central Gas Storage Surplus
Strong industrial and gas-fired demand across the South Central US is quickly eroding the region's gas storage surplus this spring. With looming hot weather promising more momentum for the trend, tightening market fundamentals in the region could set the stage for a bull market by late summer. In May, total gas demand across the US Southeast and Texas has averaged a record-high 29.7 Bcf/d — even excluding demand from pipeline exports and the region's numerous LNG liquefaction terminals.
—Read the article from S&P Global Commodity Insights
EU Gas Sendout From LNG Facilities Drops To 7-Month Low
EU gas sendout from LNG facilities has dropped to a seven-month low as reduced demand and healthy gas nominations weigh on LNG imports. Sendout levels from EU LNG hubs stood at 2,789 GWh/d May 18 and 2,797 GWh/d May 19, according to Gas Infrastructure Europe data — the lowest the bloc has seen since Oct. 8's 2,710 GWh/d. Sendout was also down sharply on the year, averaging at 3,092 GWh/d for the first 19 days of May, 24% lower than 4,048 GWh/d during the same period last year..
—Read the article from S&P Global Commodity Insights
Listen: How AI Could Solve The Data Challenge For Climate, Nature And The Energy Transition
In this week's episode of the ESG Insider podcast, we bring you coverage of the annual S&P Global Sustainable1 Summit held in London on May 8. We sit down with panelists on the sidelines of the event to discuss key conference themes, including data challenges related to climate, nature and the energy transition; the role that technology and innovation can play in addressing these challenges and the potentially transformative role of AI; and the challenge of sustaining economic growth in emerging markets while accelerating the transition.
—Listen and subscribe to the podcast from S&P Global Sustainable1