HSBC announced on February 21 that it is investing $50 million over the next five years as part of a major conservation initiative. The funds will be shared between the three environmental charities, WWF, Botanic Gardens Conservation International and Earthwatch. The contribution represents the single largest donation ever to have been made to the selected organisations and will be used to set up the Investing in Nature programme. In addition to funding a range of global conservation projects, the partnership also provides for 2,000 HSBC employees to take part in fieldwork and champion the scheme within the bank. Contact Richard Beck, HSBC, on 020 7260 6757 (http://www.investinginnature.org)
A new government organisation is set to assist British manufacturers in maximising the opportunities for investment and employment from the rapidly-growing global sustainable energy market. Launched on March 4, Renewables UK will encourage production of the technology needed to derive 10% of electricity from renewable sources by 2010, in accordance with the government’s target.## On February 14, meanwhile, the government also published the UK Energy Review, which calls for an increase of a fifth in renewable energy by 2020, yet also leaves the door open for nuclear power and clean coal technology. The Review precedes the Energy White Paper expected later in 2002. Contact Connel Shaw, PIU, on 020 7276 1416 (http://www.piu.gov.uk)
British Sugar, Rolls-Royce, BP and Shell are among the 34 new signatories to the UK emissions trading scheme, which kicked off on April 2. The initiative is expected to reduce the total annual greenhouse gas emissions of the participating organisations by more than four million tonnes. The scheme works by setting pollution ‘allowances’ for each participant, which they can then either sell or buy depending on whether they are successful in meeting their pollution targets or not. Although membership is voluntary, the government is providing an incentive fund of ?’215 million over the next five years to encourage the nearly 6,000 eligible companies to join the scheme.
Meanwhile, a report published by the Washington DC-based Pew Centre on March 19 indicates that the international market for greenhouse gas emissions is growing. Despite US inaction and fragmentation in the emissions market, the report’s authors claim emissions trading has become the ‘policy of choice’ for addressing climate change. Contact Katie Mandes, Pew Center, on 00 1 703 516 4146 (http://www.pewclimate.org)
Marks & Spencer is the biggest upward climber in the sixth annual Business in the Environment Index of Corporate Environmental Engagement, published on February 26. Other leading companies include Lattice Group, which enters straight in at first place in the environmental management category, in front of IBM and ScottishPower. Another new entrant, Dow, achieves first place in the chemicals sector. The index benchmarks companies against their peers, and industries against each other, on the basis of their strategic environmental management and performance in key areas.
The area in which companies performed worst was supply chain management, with 17 sectors scoring less than 50% in this category. In response, BiE will be holding a conference on June 20 specifically designed to address the issue. Contact Elizabeth Forbes, BiE, on 020 7566 8705 (http://www.business-in-environment.org.uk)
BP reports that it has reached its 1998 target to achieve nine million tonnes of sustainable reduction in its greenhouse gas emissions well ahead of its 2010 schedule. It estimates that the extra value to the company of its energy efficient projects stands at around $650 million. The results form part of BP’s 2001 Review, an online update of the company’s social and environmental impacts. Contact Clare Bebbington, BP, on 020 7496 4851 (http://www.bp.com)
ExxonMobil is rolling out a global energy management system in all its manufacturing sites around the world, it announced in March. The company estimates that the move will improve its energy efficiency by more than a sixth (15%). Contact Denice Fennell, ExxonMobil, on 01372 222 063 (http://www.exxonmobil.com)
A new online guide outlining the strategies and tools for adopting sustainable business practices is now available from the campaign group, Business for Sustainable Development. See http://www.bsdglobal.com
Environment minister Michael Meacher MP is calling on UK businesses to recover nearly five million tonnes of packaging waste in 2002 (about three-fifths of annual waste produced), following new government targets announced on March 19. Contact Defra on 08459 335577 (http://www.defra.org.uk)
Editorial Comment
Like it or loathe it (and it is not without its critics), the BiE Index has been hugely influential in raising the bar on systematic environmental management among FTSE listed companies. Few self-respecting companies can today deliberately ignore the annual process. Less apparent is actual improvement in corporate environmental performance, but logically this flows eventually from better management. Among the Index’s success factors have been its incremental approach, building the methodology annually, and its use of benchmarks rather than criticism as a lever for action. Now the big question is whether the same approach will work with the wider corporate social responsibility index. The chances of success are enhanced by the early decision to focus only on management processes. But this raises the possibility of a tobacco or arms manufacturer topping the league table as the most socially responsible company, no doubt to external ridicule. And when in time the process moves on to substantive performance, is it going to be practical to benchmark employment practices in the rich West, for example, with operations in deepest Africa or in countries where it is illegal to employ women? Tough, but let’s give the effort a fair wind. Stand by in September to receive the next BiE index and the first CSR index.
Corporate Citizenship Briefing, issue no: 63 – April, 2002
COMMENT:
Like it or loathe it (and it is not without its critics), the BiE Index has been hugely influential in raising the bar on systematic environmental management among FTSE listed companies.
Like it or loathe it (and it is not without its critics), the BiE Index has been hugely influential in raising the bar on systematic environmental management among FTSE listed companies. Few self-respecting companies can today deliberately ignore the annual process. Less apparent is actual improvement in corporate environmental performance, but logically this flows eventually from better management. Among the Index’s success factors have been its incremental approach, building the methodology annually, and its use of benchmarks rather than criticism as a lever for action. Now the big question is whether the same approach will work with the wider corporate social responsibility index. The chances of success are enhanced by the early decision to focus only on management processes. But this raises the possibility of a tobacco or arms manufacturer topping the league table as the most socially responsible company, no doubt to external ridicule. And when in time the process moves on to substantive performance, is it going to be practical to benchmark employment practices in the rich West, for example, with operations in deepest Africa or in countries where it is illegal to employ women? Tough, but let’s give the effort a fair wind. Stand by in September to receive the next BiE index and the first CSR index.
Corporate Citizenship Briefing, issue no: 63 – April, 2002
COMMENTS