TCFD: ‘Encouraging’ first steps, but few firms fully disclosing climate risk
Relatively few companies around the world are disclosing the financial impact of climate change on their business, despite increasing corporate support for the guidelines set out last year by the Task Force on Climate-related Financial Disclosures (TCFDs), a new analysis suggests. The TCFD published its latest progress report on global climate risk disclosure yesterday, confirming that while the majority of companies already publish information that aligns with certain parts of its recommendations, much more work is needed if disclosures are to contain more detailed climate-related information that can effectively aide business and investment decision-making. Mary Schapiro, head of the TCFD secretariat and special advisor to the TCFD chair, said warned that “further works needs to be done. The most important step is that companies get started with their disclosure work.” (BusinessGreen)*
Employees / Diversity
Global leaders and companies pledge to reduce the gender pay gap by 2030
On Wednesday 26th September global leaders from governments, private sector companies, trade unions and civil society pledged to take concrete action towards closing the gender pay gap by 2030. The global commitments—to ensure women in every sector of the workforce are paid equally to men for doing work of equal value—were made at the Equal Pay International Coalition (EPIC) Pledging event held during the United Nations General Assembly in New York. Globally, and in every sector of the workforce, women are paid less than men for doing work of equal value. Unequal pay is one of the most persistent barriers to women’s success at work and to economic growth, and a critical problem that has been prioritized in the Sustainable Development Goals (SDGs), in particular SDG 8.5 and 5. Equal pay, in addition to empowering women, can have a significant impact on achieving other key goals, such as promoting inclusive societies, reducing poverty, and creating conditions for decent work and gender equality. Global companies also participated, including IKEA, Deloitte, Pepsi Co, Nestle and Novartis AG, who expressed their allegiance to EPIC’s mission. (UN Women)
Supply Chain / Corporate Reputation
Deforestation-linked palm oil still finding its way into top consumer brands
A new report by Greenpeace finds that palm oil suppliers to the world’s largest brands have cleared more than 1,300 square kilometres of rainforest in South East Asia — an area the size of the city of Los Angeles. “The answer is really simple,” Greenpeace Indonesia forest campaign head Kiki Taufik said. “Despite promising not to buy palm oil from rainforest destroyers, the world’s biggest brands are, in fact, still buying palm oil from companies that destroy rainforests.” Greenpeace researchers found that 12 of the world’s largest brands. In addition to deforestation, the report cited evidence of other problems linked to these industrial palm plantations, from labour exploitation and social conflicts, to unlicensed development and slash-and-burn land clearing, especially on carbon-rich peat soil. With less than two years before the self-imposed 2020 deadlines of many of the brands, the companies involved must act swiftly to transform the palm oil industry, activists say. (Eco-Business)
Environment
UK’s first air-filtering bus launches in Southampton
One of the UK’s largest bus and rail operators has launched the country’s first air filtering bus in an effort to tackle air pollution. The Go-Ahead Group unveiled the Bluestar bus in Southampton on Thursday claiming that the new filtration system attached to the top of the vehicle will clean the air as it moves around the city. Brown said Southampton had been chosen for the prototype as the World Health Organization revealed that the city is at its limit of unsafe air pollution. Go Ahead chief executive, David Brown said: “We are going a step further in the potential for our buses to actively clean the environment. It’s a huge development in our environmental leadership and we are also proud to be pioneering the prototype in the UK.” (Guardian)
Energy
Vicinity to trial energy blockchain technology
Vicinity Centres, one of Australia’s leading retail property groups, this week announced a trial of blockchain technology that, in the future, will enable Vicinity’s shopping centres to supply energy to neighbouring communities who connect to its secure power network. The trial will begin at Castle Plaza in South Australia and will be the first centre to integrate the energy blockchain technology as part of Vicinity’s $75 million industry-leading solar program. The blockchain technology, being trialled in partnership with Australian energy technology company, Power Ledger, will enable Vicinity to manage its energy use and distribution in real-time, switching between solar and national grid energy. Executive General Manager, Shopping Centre Management, Justin Mills said: “Vicinity is one of the first property companies in Australia to be trialling energy blockchain technology and we’re committed to continuing that leadership through our integrated energy strategy.” (pvmagazine)
External Event
Ethical Corporation’s 13th Responsible Supply Chain Summit Europe 2018
10-11th October| Novotel London West #RSCEU
For over a decade this event has delivered an unmatched, holistic view of supply chain challenges and solutions. 2018’s iteration is the strongest, most value packed we’ve ever produced with a laser-like focus on the emerging technologies, innovations and collaborations critical to sustainable, cost-effective supply chain strategies.
Join 200+ executive attendees and 40+ senior level speakers from UN Global Compact, DSM, Mattel, C&A, Ørsted, British Retail Consortium, Neal’s Yard Remedies, OHCHR and Sodexo.
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