Branson launches group to tackle short-termism in business
Sir Richard Branson, chairman of Virgin Group and Jochen Zeitz, the former CEO of Puma, have unveiled the 'B-Team’, a new collaboration to accelerate business sustainability and corporate responsibility. The B Team brings together an initial 14 leaders from major corporations around the world, including Unilever, Natura, Celtel and Tata in an attempt to enlarge projects that demonstrate that long-term business success can be built only by prioritising people and planet alongside profit. Sri Richard Branson said: “All businesses should become a force for good, and not just focus on short-term profit.” The group is to look at specific issues such as quarterly reporting and subsidies for fossil fuels as well as big global problems like unemployment and inequality. (Guardian, BBC)
US announces safety grant for Bangladeshi factories
The US Labor Department has committed to providing grants to help improve safety standards in Bangladeshi garment factories. It will give $2.5m (£1.6m) to help improve the enforcement of fire and safety standards and ensure better protection of workers. The grants come amid concerns over safety standards in Bangladesh's garment factories, prompted by the Rana Plaza factory collapse earlier this year. The incident was Bangladesh's worst industrial tragedy and triggered calls for greater scrutiny of working conditions in Bangladeshi factories – most of which make garments for the US and European markets. The collapse killed more than 1,100 people. (BBC)
Indices & Ranking
SAC reveals new Materials Sustainability Index
The Sustainable Apparel Coalition (SAC) has launched the Materials Sustainability Index (MSI) web tool as a new component to its Higg Index suite of sustainability tools for the clothing and footwear industries. The MSI is intended to engage designers and the global supply chain of these industries in environmental sustainability. The MSI web tool enables the SAC and other stakeholders to submit, review, publish and compare MSI data and scores. The goal of the MSI web tool is to increase transparency into how the quantitative scores of the MSI are derived and allow the public to submit new data to the SAC to improve the quality of the scores. (Wall Street Journal)
Automakers dominate Green Brands Ranking
Toyota has retained the top spot on Interbrand’s 2013 Best Global Green Brands ranking for the third year running. Vehicle brands including Ford, Honda and Nissan account for four of the top five spots in this year’s ranking with innovation driving their success, according to the report, which evaluates and ranks companies on their environmental performance as well as the public’s perception of their green credentials. Although most vehicle brands have invested in meeting sustainability goals and complying with regulations, it is brands that have created innovative products that are receiving more recognition from consumers, Interbrand says. (Environmental Leader)
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