Study: Living wage tied to better mental health in London
According to a study commissioned by the UK poverty charity Trust for London, employees who receive a higher minimum wage based on realistic living expenses, have better mental health. In 2011, the London Living Wage (LLW) was set at £8.30 per hour, compared with a UK national minimum wage of £6.08 per hour. Researchers interviewed 173 workers for London Living Wage employers and 127 people who worked for other employers, most of whom worked for cleaning companies, for grounds crews or in transportation. Ranked on a scale of mental wellbeing where the average adult scores a 51, LLW workers averaged a score of 58, compared to 55 among non-LLW workers. Professor Mel Bartley at University College London said that “debt is well known to be harmful to mental health” and people with low incomes may have to pick and choose between basic life necessities like heat and food which can lead to social isolation, which is “as damaging to health as smoking.” (Reuters)
Reporting
CDP report: Diageo, GSK, HSBC Anglo American top four reporting firms
According to the Carbon Disclosure Project (CDP)’s latest FTSE 350 Climate Change Report, Diageo, GlaxoSmithKline (GSK), HSBC and Anglo American are the top four UK companies reporting on carbon emissions, including indirect emissions and supply chain impacts. Diageo and GSK were joint first with a disclosure score of 98, with HSBC just behind with 97 and Anglo American with 96. GSK’s Vice President of Environmental Sustainability, Richard Pamenter, said that “measurement and disclosure of value chain emissions is a critical first step on our journey to be carbon neutral.” René Médori, the Finance Director at Anglo American, said that “gaining the trust of stakeholders is a clear imperative for all businesses, and is all the more critical in the mining industry. Anglo American’s reporting is a reflection on the way we do business and reinforces our view of the importance of providing stakeholders with clearly presented, compelling and transparent information.” (Edie)
Responsible Investment
Cambridge University project to “put the value of sustainable investment beyond doubt”
The University of Cambridge has announced that it will join forces with asset managers to advance the value of sustainable investing, ahead of UK National Ethical Investment Week, which starts on the 13th of October. The Investment Leaders Group, which consists of 12 corporate financial members, including Allianz Global Investors, Aviva Investors, PensionDanmark and First State Investments, is a three year project which, in partnership with the University of Cambridge, will explore the degree to which economic, social and environmental factors can influence long-term value creation as well as the barriers to environmental and social factors in investment. Carlos Joly, a fellow of the University of Cambridge’s Programme for Sustainability Leadership, said that sustainable investment does not “preclude robust returns on investments. On the contrary, we can create a virtuous circle, whereby considering environmental and social factors in investment decisions can drive both economic prosperity and societal wellbeing. That is the only secure basis on which business and long-term investment can flourish.” (Blue & Green Tomorrow)
Environment
SOCO criticised over oil exploration in Congo
The UK oil and gas exploration company SOCO International has been criticised by conservation groups and the UK Government after the firm refused to commit to leaving Virunga National Park in the Democratic Republic of the Congo (DRC) untouched. The World Wildlife Fund (WWF) claims that protection of Africa’s oldest national park, which is also a UN World Heritage site, is paramount owing to its high biodiversity. Although the French oil company Total said that it would not carry out any exploratory drilling within the boundaries of the park, SOCO maintained that it had the backing of the government of the DRC, and as such, refused to commit to similar agreements. WWF has claimed that the company has breached the guidelines set by the Organisation for Economic Co-operation and Development and has called for SOCO “to end all exploration in Virunga for good.” (Blue & Green Tomorrow)
Coca-Cola Enterprises: UK needs effective recycling engagement plan
According to Coca-Cola Enterprises (CCE), the UK distributor of Coca-Cola products, the UK needs a more visible national campaign to encourage householder recycling. CCE’s Associate Director for Recycling, Nick Brown, said that although local authorities have done “a great job” to put in place services to collect recyclable materials from households, clear communications could help to improve engagement with householders. Mr Brown said that “to further accelerate recycling in this country, we all need to inspire householders to recycle more” and that CCE will work with local authorities “on communications to help householders use their local service and understand what happens to the materials.” CCE is one of 11 organisations funding the new ‘Plastics Matters’ initiative, which is run by the recycling charity Recoup and aims to provide local authorities with the communication tools necessary to encourage public participation in recycling. (Edie)
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