Daily Media Briefing 13th February

Daily Media Briefing

 

Posted in: Daily Media Briefing, Environment, Governance, Supply Chain

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February 13, 2013

Economy

OECD presents plan to close tax loopholes

A plan to close international tax loopholes has been outlined by the Organisation for Economic Co-operation and Development (OECD), which warned that a failure to take action against profit shifting by multinationals would put “the integrity of the corporate income tax” at stake. In a report on “base erosion and profit shifting” issued ahead of the G20 finance ministers’ meeting, the OECD, said accusations of tax-dodging by multinationals had fuelled a perception that “taxes are only paid by the naive”. The study, which follows a period of intense criticism of corporate tax practices, is a response to calls by the German, UK and French finance ministers for co-ordinated action to strengthen international tax standards. (Financial Times*, Guardian, Telegraph)

Supply Chain

Puma closes the loop with first green clothing range

Sports brand Puma has launched its first range of products to be certified as 100 percent biodegradable or recyclable, promising that the new sportswear results in an environmental impact that is almost a third lower than conventional counterparts. The new range, called ‘InCycle’, includes clothing and accessories that have been developed using a variety of different eco-friendly materials as part of the company's high profile ‘Environmental Profit and Loss’ initiative. When disposed of, the materials will be safely broken down by microorganisms into biological nutrients, while parts such as metals, textiles and plastics, can be used to create new products. (Business Green)

Environment

Corporates face mounting investor demands to enhance environmental performance

Business leaders at the world's largest listed companies are facing growing pressure from investors to embrace environmental best practices. So says new research published to coincide with the launch of the Carbon Disclosure Project (CDP)’s reporting season. The CDP’s annual disclosure season has started, with over 5,000 public companies around the world contacted to provide information on the emissions and climate change strategy. The CDP said that the number of institutional investors supporting the annual requests for information has increased 10 percent (from last year) to 722 separate investors, meaning that the initiative is backed by institutions with $87trn of assets under management. (Business Green)

Group seeks to kick-start ocean protections

A group of prominent officials from several nations are creating an independent body dedicated to making environmental protection of the oceans a top priority in global policymaking. The organisation, the Global Ocean Commission, is to be led by the former Costa Rican president José María Figueres; Trevor Manuel, South Africa’s planning minister; and David Miliband, a former British foreign secretary.  The group will push for a governance framework to deliver aims and objectives for oceans. The issue of the unregulated use of resources has gained greater importance recently as fishing fleets go ever further in search of their catch and private enterprises find new ways of exploiting offshore mineral wealth. (New York Times)

   

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