Forest Footprint Disclosure Project to merge with CDP
The Global Canopy Program’s Forest Footprint DisclosureProject will merge with The Carbon Disclosure Project to create what the two non-profits say is the world’s largest comprehensive natural capital measuring system that covers carbon, water and forests. This will be announced at Rio+20, where a major focus will be how to account for businesses’ use of the planet’s natural capital.
EU lowers sights for first binding energy efficiency targets
The European Union (EU) has agreed its first ever legally binding energy efficiency targets, but was forced to scale back its ambition to secure a compromise acceptable to all member states. The new ‘Energy Efficiency Directive’ outlines measures to achieve a 17% cut in energy consumption by 2020 – a target that falls short of the 20% goal initially proposed. This has led to accusations from campaigners that the directive lacks sufficient ambition.
Coke, Ford and others join forces to juice supply of plant-based plastic
Coca-Cola, Pepsi and several other Fortune 500 companies are all end-users of bioplastic and compete for the limited supply. They are teaming up with Nike, Ford, Procter & Gamble and Heinz to accelerate the development of 100-percent plant-based PET via a new initiative called the ‘PET Plant Technology Collaborative’.
Global investors call for action on methane emissions
Representing over $20 trillion in assets, The North American Investor Network on Climate Risk (INCR), the European Institutional Investors Group on Climate Change (IIGCC) and the Australia/New Zealand Investor Group on Climate Change (IGCC) are urging industry to reduce global emissions of methane, a greenhouse gas twenty times more powerful than CO2, from shale gas and oil fracking.
Indonesian mining company Bumi, was on Thursday accused of human rights abuses at a heated annual general meeting. Campaigning shareholders raised concerns over the alleged dumping of coal and chemicals into coral reefs, the mistreatment of workers and the company's lack of transparency.
Finnish company Nokia is cutting another 10,000 jobs globally (bringing the total lost to 40,000 since September 2010) and has warned that second-quarter losses from its mobile phone business will be larger than expected. Nokia will close its last remaining plant in Finland.
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