Annual investment in watershed protection tops $8bn
The number of projects that aim to enhance water security by protecting water-rich ecosystems such as forests and wetlands has nearly doubled over the past four years. According to a study by the US-based NGO, Forest Trends, annual investment in such ‘ecosystem service’ projects has exceeded $8bn. The study confirms there were at least 205 watershed protection projects in place by the end of 2011. There is mounting evidence that such projects could deliver a number of benefits beyond improved water security, including reduced GHG emissions and enhanced biodiversity protection. (Business Green)
Construction industry looks for ‘green growth’ opportunities
The UK Green Building Council (UK-GBC), backed by professionals across the construction and property sector, has sent an open letter to the Chancellor today asking the UK Government to encourage long-term investment in green infrastructure. Backed by industry organisations such as the British Property Federation, Construction Products Association, House Builders Federation and the Royal Institution of Chartered Surveyors (RICS), the letter demands a set of policy changes that will allow the industry to make the most of green growth opportunities. Some of the demands include a recommitment to the zero carbon homes policy, better incentivisation of the ‘Green Deal’ and ‘ring-fenced’ funding for refurbishing public buildings. (Edie)
Mercury treaty adopted by 140 countries
More than 140 countries have agreed on a ground-breaking treaty to limit the use of harmful mercury. The world’s first legally binding treaty on mercury was reached after a week of talks and ends four years of discussions on how to cut global emission levels of the toxic heavy metal, which poses risks to human health and the environment. The treaty sets a phase-out date of 2020 for a long line of products including mercury thermometers, blood pressure measuring devices, most batteries and some kinds of fluorescent lamps. (Eco-Business)
Finance & Banking
Insurer Aon defers bonuses to avoid 50 percent tax
The London-based insurance broker Aon is helping 250 of its highly paid staff avoid 50 percent income tax by deferring bonus payments until the new tax year. Other top brokers, including Willis, are also considering whether to allow their staff to postpone payments until after 6 April when the top rate of income tax falls to 45 percent. The news comes just days after the investment bank Goldman Sachs was backed down on its own plans to defer bonuses following criticism from the Bank of England governor, Sir Mervyn King, and pressure from politicians. (Guardian)
Supply Chain
Foreign fast-food in trouble in China
Foreign food companies could face a more challenging future in China after scares over tainted chicken at “arrogant” western brands like KFC and McDonald’s. Reports in state media suggested that Doyoo, a supplier to both groups, was providing them with sick chickens. KFC, the biggest fast-food chain in China, has suffered a consumer backlash recently after an exposé by China Central Television. The state broadcaster found excessive levels of antibiotics and growth hormones in its chicken, triggering an official investigation. In the past two years China’s state media has run numerous critical reports of food and labelling scares at Wal-Mart, Carrefour, Lipton tea and Ajisen, a Japanese soup chain. (Times*)
COMMENTS