Report: number of women on FTSE 100 boards increases by 19%
According to a report by the UK Department for Business, Innovation and Skills, the number of female directors who now sit on the boards of FTSE 100 companies has risen by 19 percent. The figures show that 24 percent of board appointments in the last six months have been to women, which is double the level in May earlier this year. The study, “Women on Boards”, recommends that boards of the FTSE 350 companies aim for a minimum of 25 percent female representation by 2015. Sir Philip Hampton, the Chairman of the Royal Bank of Scotland Group, said that while “there is progress in women getting on to boards, it would be good if the pace quickened. That needs more effort, imagination and focus all around.” (Reuters; Financial Times*)
Car industry workers end month long strike in South Africa
45,000 metalworkers have agreed to end a four week strike in South Africa over living wages, which has severely disrupted production at manufacturing plants run by Toyota, BMW and Ford. Irvin Jim, the General Secretary of the National Union of Metalworkersof South Africa, said that the union had accepted a three year pay deal with employers, including a ten percent salary increase. South African Government Officials said that the strike was the longest period of industrial action to hit the country’s car manufacturing industry, and has cost an estimated $2 billion in lost output. BMW has announced that its South Africa business is no longer in the running to manufacture a new model of car, owing to the fragile state of labour relations in the country. However Mr Jim said that the car manufacturers “who claim the strike is troubling the economy, is threatening their investment, are the very same guys who squeeze the common employee.” (BBC; Financial Times*)
Responsible Investment
World Bank urged to divest from private water firms
The US advocacy group Corporate Accountability International (CAI) has called on the World Bank to stop investing in private water firms, stating that the firms are compromising poor people’s access to clean water. This follows a report which CAI published last year, Shutting the Spigot on Private Water: The case for the World Bank to divest, in which it claimed that large companies and multinationals had not been able to provide disadvantaged communities with access to clean water. Elena Bourganskaia, the Global Head of Water and Municipal Infrastructure at the International Finance Corporation, the investment arm of the World Bank, said that “we are not pressing one ownership or the other. We are just trying to support effective water utilities, whether they are public or privately held.” (Blue and Green Tomorrow)
Environment
Schneider Electric makes retrofitting easy for SMEs
The France based company Schneider Electric has launched SmartStruxure Lite, an integrated software and hardware solution that enables small and medium sized businesses to increase the energy efficiency of their buildings while reducing operating costs. Jeffrey Yap, the Vice President of Schneider Electric, said that “building management solutions often cost hundreds of thousands so we are offering a low cost solution that is easy to implement.” The cost of installing SmartStruxure Lite ranges from $2,000 to $20,000 and covers heating, ventilation, air conditioning, lighting, power applications, room and zone control, air volume control, and metering functions. Currently, some buildings in Singapore are already using SmartStruxure Lite, as it also helps companies to meet the requirements of Singapore’s Building and Construction Authority’s Green Mark. (Eco Business)
COMMENTS