Workers rights groups, including IndustriALL, the international union group, are calling on retailers to use a legally binding deal to improve safety for clothes factory workers in Bangladesh as a blueprint for tackling similar issues elsewhere. It comes amid evidence that workers in Pakistan and China face greater workplace risks than those in Bangladesh, which is ranked only the 17th worst country on a labour rights and protection index compiled by global risk consultancy Maplecroft and used by major retailers worldwide. Pakistan and China are ranked respectively as the third and fourth worst places to work. Arvind Ramakrishnan, an analyst at Maplecroft, said deals which meant retailers faced legal consequences in their home countries are necessary to drive real change in countries such as Pakistan and Bangladesh, where factory owners are a powerful lobby. (The Guardian)
Responsible Investment
Activist investors target big business
According to the UK data provider Activist Insight, activist investors are building up stakes in larger, high-profile companies. The data provider’s findings report that global activist shareholders stepped up investments by 104 percent between January 2010 and the end of June 2013 in companies with a market capitalisation of more than $10 billion. An estimated 60 public campaigns by activist investors, which are all still running, were initiated in 2013. Between April and June 2013, Activist Insight reports that the most popular strategy among global activist investors was to try and gain seats on company boards, with 25 attempts being made. The findings also report that there is an emerging trend to focus on fewer companies when launching campaigns, drawing in several activists at the same time to gain strength. (Financial Times*)
Environment
Mining giants invest $3 billion to secure sustainable water supply in Chile
The Australian company BHP Billiton and the UK and Australian firm Rio Tinto have agreed to invest $3 billion in a desalination project at their joint venture project, Escondida, in Chile. The plant will provide a sustainable supply of water for the project’s new copper concentrator, while reducing Escondida’s reliance on the region’s aquifers. The announcement follows a study from the Carbon Disclosure Project (CDP), stating that for the majority of metal and mining firms, there are significant concerns that water shortages could severely impact their production systems. The research analysed findings from 36 companies covering core markets in metals, minerals and mining, with a combined market share of more than €600 billion. (Edie)
Test of giant battery to help power the UK
A trial of the largest battery in Europe, which proponents hope will transform the UK electricity grid and boost renewable energy, is due to start in Bedfordshire. The £18.7 million project is a partnership between S&C Electric Europe, the South Korean company Samsung SDI and the German renewable energy technology firm Younicos. The project has also gained £13.2 million in funding from the UK Government. The trial of energy storage technology will test new methods of capturing electricity, including energy generated from renewable sources, for release over long periods, evening out the bumps and troughs of supply and demand that face the electricity grid. According to research from Imperial College London, the UK could save £3 billion a year in the 2020s through large scale energy storage. The first results are expected in 2016. (The Guardian)
Japan car manufacturers team up to add number of electric chargers
The Japanese car manufacturers Toyota, Honda and Mitsubishi, led by Nissan, the producer of the zero emission Leaf car, announced today that they will cooperate to increase the number of charging stations in Japan to boost the adoption of electric cars. The companies have agreed to share costs to build an additional 12,000 charging stations, including 4,000 charging points. Consumer use of electric cars in Japan is low reportedly due to issues such as higher prices and the perceived limitations of the vehicles. Recently, competition has increased with the US car manufacturer Tesla Motors launching a system which can replace a depleted electric car battery in 90 seconds. (Bloomberg)
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