Marks and Spencer (M&S) has decided to put its feet up, on what it claims is the world's most sustainable sofa. Several years in development, the sofa is made using the husk fibre of 25 coconuts, which has been blended with natural latex to replace the PU foam traditionally used as sofa stuffing in the arm padding and seat cushions. Meanwhile, the back cushions are stuffed with polyester made from recycled plastic, while the sofa is covered in a naturally flame resistant blend of wool and natural flax, which M&S says has greater durability than conventional covers. The sofa is the latest in a line of sustainable products produced by M&S under its pioneering ‘Plan A’ sustainability strategy. (Business Green)
Policy & Research
CR matters more to workers in emerging countries
Workers in emerging countries are more concerned about corporate behaviour than employees in more developed nations, according to a new poll. The Ipsos survey of 24 nations showed that feelings about corporate responsibility were highest in Brazil, Mexico, Indonesia and India, where more than half of workers said it was very important for their employers to behave responsibly towards society and the environment. However in Japan and France less than 20 percent of workers felt the same way, and in Spain, Belgium and China the number was less than 30 percent. A senior vice-president at Ipsos, a market research company, comment on the results: “The main finding, no matter where you look, is that companies can’t neglect corporate social responsibility.” (BD Live, Fox Business)
Supply Chain
New report highlights factors of supply chain failure
Companies are finding it increasingly difficult to control their supply chains and the cost of failure is higher than ever, according to a report by the association for risk management professionals Airmic. The report, Supply chain failures, claims firms are leaving their reputation in the hands of suppliers because they don’t understand how they operate or have adequate risk management strategies in place. The report identified several underlying factors that tend to be present when supply chains issues arise, including cost pressures, which lead to compromise on quality and ethics, modern communications which can quickly damage reputations and offshoring, which makes it increasingly difficult for firms to monitor supply chains adequately. (Supply Management)
Rolls-Royce has conceded that its safety procedures “clearly fell short” following a report from the Australian Transport Safety Bureau that blamed the British manufacturer for the 2010 in-flight explosion of one of its engines. In its final report, Australia’s transport watchdog found that a number of the oil feed pipes on the Qantas A380 aircraft’s four Rolls-Royce engines “did not conform to design specifications”. The mid-air blast on the flight between Singapore and Sydney forced the plane to make an emergency landing with its 433 passengers. Colin Smith, Rolls-Royce’s director of engineering and technology, said that the mid-air blast was a “serious and rare event that we very much regret”, adding that the group “clearly fell short” of standards expected by airline passengers. (Financial Times*)
UBS France fined €10m amid tax evasion probe
The French unit of UBS has been fined €10m (£8.5m) by regulators for failing to tighten proper controls on money-laundering and tax evasion. UBS and its French branch are being formally investigated for allegedly helping wealthy clients open undeclared bank accounts in Switzerland. The bank rejected the "contentious nature" of the decision and said it was considering lodging an appeal. Earlier this month, UBS and UBS France were placed under formal investigation over suspected "complicity in illegal sales practices". Investigators are examining whether UBS staff broke a French law against "illicit solicitation" by actively approaching potential clients in France. A statement by UBS said: UBS does not tolerate any activities intended to help its clients circumvent their tax obligations.” (BBC, Wall Street Journal)
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