High street retailers are putting pressure on the UK Government to deliver a level playing field on tax, or at the very least reduce the tax burden on UK retail chains, following a string of high street collapses. John Lewis, J Sainsbury, Waterstones and Home Retail Group have said that the Government must get to grips with tax avoidance on the part of multinationals and ease the broader tax burden on the high street. In a nod to recent public outrage over Starbucks’ tax arrangements, David Cameron told an audience at the World Economic Forum in Davos that tax avoiders “need to wake up and smell the coffee”, pledging that Britain would use its presidency of the G8 to push for co-ordinated international approach to tackling “aggressive” tax avoidance. (Financial Times*)
Employees
Apple pledges to eradicate child labour from supply chain
Apple increased audits of working conditions at major suppliers last year, discovering multiple cases of underage workers, discrimination and wage problems. The iPhone and iPad maker, which relies heavily on Asian-based partners to assemble the vast majority of its products, said it conducted 393 audits – 72 percent more than in 2011. In recent years Apple has faced accusations of building its profits on the backs of poorly treated and underpaid workers in China. That criticism came to the fore in 2010 after reports of suicides at Taiwan's Foxconn Technology Group drew attention to the long hours worked by migrant labourers, often in poor working conditions for minimal wages. (Guardian)
Supply Chain
Waitrose says "Horsegate" scandal at rivals was inevitable
Britain's "Horsegate" scandal – where horse meat was found in the beef burgers of a number of British supermarkets – was the inevitable result of major supermarkets squeezing their suppliers and could lead to a change in shopping habits, the head of Waitrose, Mark Price, has told Reuters. "Customers now have got the joke that cheap does not mean good value. Cheap just means cheap," he said, adding that "If you have a competition that says: Who can sell the cheapest stuff? Inevitably at a point in time you will get something like this." Mr Price added that Waitrose had “gone the other way”, with a meat supply that is 100 percent British and a dedicated supply chain and abattoir facilities. (Reuters)
Environment
WEF climate talks seek new ways to unlock private finance
Business leaders must find a way to turn climate crisis into an investment opportunity for sustainable infrastructure, according to a senior figure at the World Economic Forum (WEF). The forum's director of climate change and green growth initiatives, Thomas Kerr, said high-level dialogue was needed to identify ways to channel private capital into green growth. According to WEF's own report on green investment released earlier this week, almost $700bn annually is needed to ensure sustainable growth. While public funds can play a catalytic role, they won't be sufficient to deliver the amount of capital that is needed. A new public-private coalition, the Green Growth Action Alliance, was set up last year to help accelerate this transition. (Edie)
Tokyo cap-and-trade cuts CO2 23 percent
Tokyo’s cap-and-trade programme has achieved a 23 percent reduction in emissions in its second year, according to a report published by the Tokyo Metropolitan Government (TMG). TMG found total emissions for 2011 were 7.22m metric tons CO2, a 2.16m reduction from base-year emissions. The fall is the result of a cap-and-trade programme imposed on the region, as well as the halt in production caused by 2011’s earthquake. The 2011 report compiled Greenhouse gas emissions reports, submitted by the end of November 2012, from 934 facilities. (Environmental Leader)
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