LBG member companies give £1.7 billion to charitable activities
LBG, a network of more than 130 global companies who use a standard measurement model to assess and benchmark the value and impact of their community investments, has announced that annual worldwide community contributions by its members were worth a total of £1.7 billion in the last year. On average, member companies, which include British Airways, John Lewis, Marks & Spencer, Coca-Cola and GlaxoSmithKline, contributed 1.7 percent of their pre-tax profits to community investment. The LBG’s 2013 Annual Review estimates that 77,000 organisations and 95 million people across more than 130 countries have benefitted from the companies’ community programmes. Pam Webb, the Chair of LBG and the Head of the Zurich Community Trust, said that “companies using the LBG model are making a big difference to their communities. By adopting a strategic approach, they build strong relationships with not-for-profit partners, encourage their employee engagement, build business value and achieve a long-term impact in the community.” (Third Sector Magazine)
Responsible Investment
Study warns about fossil fuel investment risks
A new study by the Smith School of Enterprise and the Environment (SSEE) at the University of Oxford has claimed that the risks associated with investments in fossil fuels “are poorly understood and are regularly mispriced” and calls for investors to include environmental risks when making investment decisions. Seb Belowe, the Head of Sustainability Research at WHEB Asset Management, said that “My concern with the divestment movement is that the response from investors will be to avoid coal but remain quite happily invested in lower carbon – but still carbon intense – fossil fuels. This is obviously a move in the right direction, but the science clearly says that this is likely to be too little too late.” The report has come as it is revealed that Harvard University, which has the world’s largest college endowment fund of $32.7 billion, has decided to continue its investment in fossil fuels, despite pressure from students. (Blue and Green Tomorrow; Environmental Leader)
Supply Chain
Report: UK grocery retail sector bins £6.9 billion worth of materials in its supply chain
According to research by the UK circular economy and resource efficiency organisation WRAP, the UK grocery retail sector is throwing away £6.9 billion worth of materials in its supply chain. The figure, which is 30 percent higher than previous estimates by WRAP, has increased the cost per tonne of food and packaging waste to £950 per tonne, which takes into account the cost of the food and ingredients, energy and water costs, disposal costs and lost profit. WRAP said that "by focusing on the opportunities for improving waste prevention, businesses can add the savings benefit straight to their bottom line." The report follows a study published in September 2013 by the UN Food and Agriculture Organisation, which estimated the cost of food waste to the world’s economy to be £470 billion. (Edie)
Environment
Aviation industry agrees global mechanism to reduce emissions
A global mechanism to cut airlines’ carbon emissions from 2020 has been supported by the International Civil Aviation Organisation's (ICAO) 191 member countries, who have agreed on a strategy that will focus on technology, operations and alternative fuels to reduce emissions in the aviation industry. The EU Climate Change Commissioner, Connie Hedegaard, said that "after so many years of talks, ICAO has finally agreed to the first ever global deal to curb aviation emissions." The aviation sector will aim to finalise the global mechanism by 2016, which could take the form of taxes, tradeable permits or carbon offsets. Environmental groups welcomed the agreement but said that reducing emissions needs to start sooner. Samantha Smith, who leads the World Wildlife Fund’s Global Climate and Energy Initiative, said that "the science is clearer than ever – 2020 is too late.” (BBC; Edie)
First Singapore Green Mark-awarded housing development in Africa
The Singapore firm GreenA Consultants, in collaboration with the National Housing Corporation of Tanzania and the UN Human Settlements Programme (UN Habitat), is developing the first Green Mark awarded housing development in Dar es Salaam. The Kigambuni Housing Estate, which consists of about 200 affordable eco homes, and will also have a community park and a school, is part of Tanzania’s aim to transform Dar es Salaam into an eco-city. The national government of Tanzania has been collaborating with UN Habitat to bring people out of poverty through its Tanzania Development Vision 2025, part of which is focusing on the 80 percent of city residents who live in unplanned and unserviced areas. GreenA Consultants said that the project will help to solve this issue; the homes include energy efficiency features, solar panels to provide electricity and a rainwater harvesting system, and the ground has been landscaped to enable residents to grow food. (Eco Business)
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