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September 18, 2017

Policy

Tillerson says U.S. could stay in Paris climate accord

The U.S. could remain in the Paris climate accord “under the right conditions”, Secretary of State Rex Tillerson said during the American political interview show ‘Face The Nation’. He said president Trump was “open to finding those conditions where [the U.S.] can remain engaged with others on what [everyone] all agree is still a challenging issue”, signalling a shift in the administration’s tone towards climate change. The Wall Street Journal reported on Saturday that U.S. officials had offered to re-engage in the Paris agreement, following a meeting with more than 30 ministers from signatory countries. Tillerson said Trump’s top economic adviser Gary Cohn – who has been part of the “stay-in” accord camp – was to “consider other ways in which [the U.S.] can work with partners in the Paris Climate Accord” and wanted the process to be “productive” and “helpful”. (Reuters)

 

Alan Finkel urges Australia PM to adopt clean energy target before states act

Australia’s chief scientist Alan Finkel has urged the Australian government to swiftly commit to the final recommendation of his energy review, warning the longer that commitment takes, the more likely states are to set up conflicting emissions reduction schemes and create more uncertainty for investors. The Victorian government announced it would implement its own clean energy target if the federal government didn’t commit. While the clean energy target recommended has been criticised as too weak by some and too ambitious by others, Finkel recognised the target was “modest” and that even if the government enacted energy policies that supported coal-fired power stations they would not be backed by investors as the market no longer supports those options. (Guardian)

Diversity

PwC reveals black and Asian workers are paid 13% less to speed up progress

Black, Asian and minority-ethnic staff (BAME) who work at PwC in the UK earn almost 13% less than other employees, according to figures provided by the professional services firm PwC. The firm said its BAME workers were statistically paid less because more of them worked in administrative and junior roles, rather than senior ones. PwC said it had published the data to help it speed up progress on the issue. PwC chairman Kevin Ellis said the more transparency on the firm’s diversity and social mobility data “the more [they could] hold [themselves] accountable to achieving real change”. Reporting on BAME pay isn’t currently required under government regulations. The firm has been voluntarily publishing its gender pay gap figures since 2014, a move which it said had helped “shine a spotlight on gender issues”. (BBC)

Energy

UK carbon targets ‘under threat’ unless businesses invest in energy managers

Britain’s carbon targets could be put at risk unless businesses invest in the tools and training required to equip energy managers for the future, according to new research from utility consultancy Inenco. The Future Utilities Manager report claims that the energy manager of 2030 will be a “senior-level, tech-savvy data scientist” whose focus will shift from energy reduction to the identification of income opportunities from energy, utilising onsite generation, energy storage and demand response. Inenco chief technology officer Jon Bauer said changes in the UK energy infrastructure “mean the future utilities manger will have access to real-time data and artificial intelligence”  that will help “optimise a business’ own demand instantly” and ensure their business “is aiding the UK’s transition to a low-carbon economy”. (edie)

Long-Term Value Creation

Look beyond the bottom line for growth, Asian corporates urged

Corporate leaders in Asia must look at the impact of their businesses on the environment and society, and integrate sustainability with business strategy and execution, said former PM of The Netherlands, Jan Peter Balkenende at the Singapore Institute of Directors (SID) Conference. While noting the “huge opportunities from integrating the values of the Sustainable Development Goals”, he called Asian corporates, in particular those listed on the Singapore Exchange (SGX), to initiate a “cultural change” by taking bolder measures on sustainability, with more stringent sustainability reporting. Companies with exemplary sustainability reporting were recognised with awards at the conference. City Developments Limited won the category of “Best Sustainability Report for Established Reporters” in recognition of its efforts in relation to the CDL Future Value 2030 initiative. (Eco-Business)

 

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