Top Stories

September 12, 2013

Waste

The global cost of food waste

The Food and Agriculture Organization of the United Nations (FAO) Food Wastage Footprint: Impacts on Natural Resources report reveals that food waste is costing the global economy $750bn a year, and is responsible for 3.3bn tonnes of greenhouse gas emissions. The 1.3 billion tonnes of annual food waste result from inefficiencies in food production, distribution, and consumption processes. The FAO director states that “we simply cannot allow one-third of all the food we produce to go to waste, when 870 million people go hungry every day”. The report states that reductions in food waste upstream can be achieved through improved education of farmers and more efficient technologies. Downstream, the report calls for better education of consumers and improved packaging from retailers, as well as calling on governments to relax regulations on short sell-by dates on some products. The report also encourages re-using unwanted food as animal feed or as biogas to provide a source of clean energy. (Business Green)

Tax

EU probes corporate tax sweeteners

Brussels has asked the governments of Ireland, Luxembourg and the Netherlands to explain their systems of tax rulings and detail the assurances given to groups suspected of tax evasion. These groups include Apple, which is suspected to apply a corporation tax of just 2 per cent in Dublin, and Starbucks for vesting its intellectual property in its Dutch subsidiary. The European Commission has said that “At the moment, we are simply gathering information on tax rulings”. However, the request could result in the enforcement of the EU’s state aid rules which ban serious distortions of competition through tax breaks. If any wrongdoings are identified, a formal investigation into tax deals with multinationals is probable. EU states could be forced to recoup all the lost revenues from any unlawful sweetheart deals with companies finding a tax haven in The Hague, Dublin or Luxembourg.  (Financial Times*)

Environment

New Arctic shipping route

The trip made by China’s Yong Sheng container vessel from Dalian, China, to Rotterdam has helped reveal the effects of climate change on Arctic sea ice. It is the first commercial Chinese cargo ship to complete The Northern Sea route to Rotterdam, which is 12 to 14 days shorter than the Suez Canal route. Several decades ago the route was completely inaccessible. The change was investigated by the European Space Agency, revealing that the volume of sea ice in the Arctic has hit a new low this year: some scientists predict that the Arctic could experience ice-free summers by 2030. Although the change brings about the prospect of a “Golden Waterway” which will bring in bumper profits by reducing transit time and costs, environmentalists are concerned about the effects these vessels could have on the Arctic’s delicate ecosystems. Nina Jensen of WWF Norway suggested that authorities should “only let ships with clean fuel sail through this region”. (The Independent)

Barcelona heralds electric taxi revolution

Nissan is investing €100m in the production of its e-NV200 electric taxi in Barcelona after the city’s Mayor, along with Nissan president and chief executive, signed a memorandum to promote the use of zero emission cabs. The Mayor is currently considering introducing privileges for zero emission taxi drivers. A similar fleet of zero emission cars is likely to enter London in the next few months, as Thriev launches the UK’s first all-electric car service which aims to act as a “zero carbon alternative to [taxi firm] Addison Lee”. The cars will be charged by 100% renewable electricity supplied by energy provider British Gas. Trials are currently in progress on Nissan Leaf and Peugeot iOn cars. The company initially plans to serve the B2B market, with a fleet of 1,000 electric cars by the end of 2014, but also hopes to launch a service for the consumer market. Thriev hopes that the service will be “cheaper and more convenient than owning a car…both for businesses, but also private use”. (Business Green)

Standards

Dow Jones Sustainability Index results released

Today the Dow Jones Sustainability Index (DJSI) results were released. The Index rates companies according to industry-specific economic, environmental and social factors. The 2013 industry group leaders include a range of global companies, including US pharmaceutical and health care products company Abbott, British oil and gas company BG Group, Dutch paints and chemicals company AkzoNobel and Korean telecoms company KT Corp. The DJSI is compiled by RobecoSAM, a sustainable investment specialist, and Dow Jones Indices. RobecoSam’s Head of Indices described the DJSI as having a “double impact” by enabling “investors to integrate sustainability into their portfolios” and providing “an engagement platform that encourages companies to adopt sustainable best practices.” (Sustainability Indices)

(* Requires Subscription)

COMMENTS