CLIMATE CHANGE

TCFD: mandatory climate-risk disclosures are increasingly likely

Organisations that are resisting disclosing how climate change may affect their business, and what they are doing to fight it, should anticipate mandatory measures to do so, according to the Task Force on Climate-related Financial Disclosures (TCFD).  In a series of revised guidelines, TCFD now asks organisations to disclose their greenhouse gas (GHG) emissions independent of a materiality assessment. This addition obliges every company, regardless of sector, to report their carbon emissions, and now encourages the disclosure of Scope 3 GHG emissions, defined as indirect emissions that occur in the value chain of the reporting company, including both upstream and downstream. TCFD highlighted the need for  “all organisations to implement these recommendations” in anticipation of climate-related issues being determined as material to a firm’s balance sheet. (Eco-Business)

SUPPLY CHAIN

Jaguar Land Rover trials blockchain to source low-carbon leather

Transport giant Jaguar Land Rover (JLR) has trialled blockchain technology to trace the carbon impacts of its leather supply chain, as part of its overarching net zero commitment. Its “Circulor”  blockchain platform uses a combination of GPS, biometrics and QR codes to create a tamper-proof trail of audit for raw materials. The platform tracks compliance with environmental and social regulation and company pledges in these fields, while also calculating the carbon footprint of the materials. A trial of the blockchain technology assessed the carbon footprint of JLR’s leather supply network to trace the lowest carbon sources, which JLR hopes to use across its global supply chain for metals and minerals used in car batteries, and by other industries that rely on leather, such as fashion and footwear. (edie)

CAMPAIGNS & ACTIVISM 

UK brewers launch food waste beer, call on world leaders for climate action

A group of 25 UK breweries has called on world leaders to seize a "once in a lifetime opportunity" to combat the climate emergency at COP26, as they launch a limited-edition collection of beers that combat food waste and improve conservation. Coordinated by Toast Ale, the coalition has released an open calling on world leaders to strengthen climate commitments at COP26 next month. The brewers are keen to highlight the role that reducing food waste can play in lowering emissions and cases of deforestation. The letter states that food systems are responsible for around one-third of emissions and linked to 80% of deforestation. Participating breweries have introduced a new limited-edition collection of beers that use surplus bread that would otherwise have gone to waste. (edie)

SUSTAINABLE INVESTMENT

Palm oil company Apical secures $750 million loan tied to supply chain goals

Indonesian Palm oil producer and exporter Apical Group announced it has secured its first $750 million sustainability-linked loan from a syndicate of lenders with terms tied to the firm’s sustainable supply chain goals. Apical stated that performance against the pre-determined targets will be assessed on an annual basis for the loan period, and incentives awarded accordingly. Palm oil is a key ingredient for food manufacturers, but sourcing the oil presents significant supply chain sustainability challenges for companies, including issues such as deforestation and labour rights. Labour rights risks in the industry include low wages, inadequate social security, unsafe conditions, unreasonable movement restrictions, limited access to communication, child labour, unequal treatment of women, and withholding of wages, among others. (ESG Today)

EMPLOYEES

‘Right to request’ flexible work not granted for half of UK’s working mothers

According to a survey of almost 13,000 mothers carried out by the Trades Union Congress and the campaign group Mother Pukka, half of the UK’s working mothers do not get the flexibility they ask for, while those that do work flexibly face discrimination.  The survey found that one in two of surveyed working mothers had had a request for flexible working turned down or only partly accepted by their current employer. It also found 86% of women working flexibly said they had faced discrimination and disadvantage at work, two in five (42%) said they would fear discrimination if they asked about flexible working in a job interview, and the same percentage said they were worried about their employer’s reaction if they asked for flexible work. (The Guardian)

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