Levi's has become the latest clothing brand to pledge to eliminate all releases of hazardous chemicals throughout its supply chain by 2020, following pressure from Greenpeace. Levi's announcement follows moves from Marks & Spencer in October to do the same in an earlier response to Greenpeace's global ‘Detox’ campaign. The campaign demands that fashion brands commit to zero discharge of all hazardous chemicals by 2020 and require their suppliers to disclose all releases of toxic chemicals from their facilities to communities at the site of the water pollution. Levi's will begin by demanding that 15 of its largest suppliers disclose pollution data as early as June 2013. This will be followed up with a further 25 major suppliers by the end of 2013. Greenpeace's toxics campaigner Marietta Harjono said that it is "about time other brands such as Calvin Klein and Gap finally cotton on and end their toxic addiction.” (Business Green, Greenpeace)
HarperCollins accused of pulping rainforests
Rainforest Action Network (RAN) has launched a campaign urging the publisher, HarperCollins, to end the use of fibre from controversial sources, after it said that independent forensic tests found significant quantities of pulp from Indonesian rainforests in several of the company’s books. Mixed tropical hardwood and high-risk acacia fibre were found in some of HarperCollins’ bestselling books. But HarperCollins spokeswoman Erin Crum said the company eliminated the use of Indonesian fibre in February. Any books printed after that date should be compliant, she said. HarperCollins, owned by News Corp., remains the sole major US publisher to have refused to make a firm commitment to disallow the use of fibre from rainforests, said RAN. HarperCollins’ UK division has a more robust policy on sourcing fibre. (Environmental Leader)
Environment
Imports drive up UK carbon emissions
According to Government figures, the UK's carbon emissions rose 10 percent from 2009 to 2010 as CO2 arising from imported goods and services soared. The increase more than reverses a 19 percent decline recorded in 2009 and leaves the country's carbon dioxide footprint nine percent higher than it was in 1993. The UK's total carbon footprint, including other greenhouse gases, also rose by five percent between 1993 and 2010. The figures show carbon emissions associated with imported goods and services consumed in the UK have risen by 59 percent since 1993, as the UK economy has continued to move from a manufacturing base towards the services sector. Imports now account for almost 45 percent of all consumption emissions, compared to around 30 percent in 1993. (Business Green)
UK gives green light to fracking
The contentious practice of fracking for shale gas has been given the go-ahead in the UK. The Government decision was applauded by many in the energy industry who hope it will drive down gas prices by putting the country at the heart of a potential “shale gas revolution”. But the move also unleashed protests from environmental campaigners such as Friends of the Earth, which condemned what it said was a “reckless decision which threatens to contaminate our air and water and undermine national climate targets”. Fracking, or fracturing rocks to release natural gas trapped deep underground, was suspended last year after Cuadrilla, the only company to have started exploring for shale gas in the UK, triggered two small earthquakes in Lancashire. (Financial Times*, Edie)
Social Investment
UnLtd and Big Lottery Fund help social enterprises find investment
The support organisation UnLtd and the Big Lottery Fund have launched a programme to fund investment for social enterprises working in health and social care. The ‘Big Venture Challenge’ will recruit 30 social enterprises which UnLtd will support in their attempts to raise money from investors. It will help organisations raise between £50,000 and £250,000 of funding, and will match funding of up to £100,000 to organisations that are successful in raising capital. The programme is open to charities, social enterprises and businesses with a social purpose. In its first round in 2011, the programme raised £1.2m of investment for 12 businesses. (Third Sector)
Corporate Reputation
UBS faces $1bn fine over Libor
UBS faces a record fine of more than $1bn to settle allegations that it manipulated Libor. The bank and various authorities around the world are locked in last-minute negotiations that are likely to see UBS publicly settle as early as Monday. Such a fine would more than double the $450m Barclays paid in a then-record settlement over Libor this summer. A fine over Libor-rigging would cap a costly year for the Swiss-based bank, which has seen a rogue trader go to jail, a $377m loss on the botched Facebook IPO, and a curtailing of its investment bank. Its long chain of mishaps threatened to undermine the reputation of UBS’s core wealth-management business, and has contributed to the decision by chief executive Sergio Ermotti, to cut 10,000 jobs and wind down a sizeable part of the investment bank. (Financial Times*)
COMMENTS