A World Bank panel has announced that businesses must join governments and the science community to help reverse damage to the world’s oceans. The panel of 21 experts, with CEOs from large seafood companies, including Thai Union Frozen Products and the US companies Bumble Bee Foods and High Liner Foods, said that only an integrated approach involving public-private partnerships can effectively turn around the declining health of oceans. The panel warned that without action, the consequences for economies, communities and ecosystems will be irreversible and recommended that the Global Partnership for Oceans, a public-private partnership which was launched by the World Bank, establish global networks of expertise and research to improve ocean health and advised on how to prioritise and implement sustainable ocean investment. The complete findings and recommendations from the panel will be released later this year. (Environmental Leader)
World Energy Council: Energy efficiency slowing down despite growing global involvement
According to a new report by the World Energy Council, global progress on energy efficiency has slowed down despite more countries implementing policies to drive improvements. The report, World Energy Perspective: Energy Efficiency Policies, which was produced in collaboration with France's energy and environment agency, ADEME, shows that while more countries are involved in energy efficiency policies, factors such as industry structure and an uncertain investment outlook as a result of the global economic crisis have affected global energy efficiency progress. The secretary general of the World Energy Council, Christoph Frei, said that the slowdown must be reversed if future progress was to be made on a stable, sustainable basis and that "this problem is compounded by continually rising energy demand, driven by non-OECD growth where energy intensity is higher than in most OECD countries." (Edie)
China to invest in UK nuclear plants
The UK Chancellor, George Osborne, has announced that the UK will allow Chinese companies to take a stake in British nuclear power plants. The first China deal could reportedly be next week, with the go ahead for a new £14 billion plant at the Hinkley C site. The announcement follows a report commissioned by the UK Government’s Council for Science and Technology, which warns of a growing risk of power shortages in the winter of 2014-2015. The authors of the report, the Royal Academy of Engineering, said that the closure of older power plants and the slow progress in building new ones was likely to stretch the power supply system “close to its limits.” The construction of the Hinkley C project will be led by the French state-controlled electricity producer, EDF, which has been looking for a partner or partners to share the costs and has been negotiating with three Chinese nuclear companies, CGN, CNNC and SNPTC. (BBC)
Corporate Reputation
UK payday lenders face calls for tighter regulation
The UK Labour Party has called for the UK Prime Minister, David Cameron, to back a new charter drawn up by debt and consumer organisations, which is designed to tighten regulations for the £7.5 billion UK payday lending sector. Ed Miliband, the leader of the UK Labour Party, said that “we must protect the most vulnerable people in our society from the worst of exploitation by payday lenders. And it is right that the companies that benefit from people’s financial plight, accept their responsibilities to help ensure affordable credit is available.” The Archbishop of Canterbury, who has vowed to put payday lenders such as Wonga out of business, announced that he has written to all clergy in the Church of England urging them to become “actively involved” in supporting local credit unions, which provide loans at lower interest rates. Wonga said that it welcomes competition from credit unions as it favours consumer choice. (The Independent; Blue & Green Tomorrow)
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