Investors warn fossil fuel industry to rethink future
An alliance of 72 major investors with collective assets of approximately $3 trillion (£1.85 trillion) are calling on the world’s largest oil, gas and coal companies, including ExxonMobil, Royal Dutch Shell and BP, calling on them to carry out a risk assessment of the consequences of global moves to cut greenhouse emissions. The alliance, which has been coordinated by the US NGO Ceres and the UK Carbon Tracker Initiative, includes US pension funds, Scottish Widows and Aviva. Andrew Logan, a director at Ceres, said that “we’re not necessarily predicting the future. But there are credible scenarios people have put forward that raise questions about the energy industry’s business model and whether the pace of its capital spending makes sense, given those future prospects.” Mark Fulton, a member of the Carbon Tracker’s advisory board and a Ceres adviser, said that “fossil fuel companies will prove to be more responsible stewards of capital in the future if they take action now to manage the risks posed by climate change.” (Financial Times*; Bloomberg)
Human Rights
Women gain as gender gap narrows
According to the World Economic Forum (WEF), the overall global gap between men and women has narrowed in the past year. The WEF’s eighth annual Global Gender Gap Report 2013, in which countries are ranked according to political participation, economic equality, education and health, states that the Middle East and North Africa were the only regions not to improve in the past year, as while they had invested in education and health, women had not been effectively integrated into the economy. The highest ranked Asian nation was the Philippines, however Asia's major economies performed poorly, with China in 69th place and Japan 105th out of 136 countries. Saadia Zahidi, the report founder and co-author, said that "women make up one half of the human capital available to any economy and any company; if that talent isn't integrated, that is going to be a loss for both women and men." (BBC)
Environment
India blocking plan to cut greenhouse gas emissions
India is reportedly blocking amendments to the Montreal Protocol, a treaty designed to protect the ozone layer, to include hydrofluorocarbons (HFCs). India claims that negotiators are trying to use the wrong treaty to bring about change, since HFCs do not damage the ozone layer but do contribute to climate change, and is calling for HFC reduction to be dealt with under the Kyoto Protocol. Other countries have proposed to amend the Montreal Protocol to include HFC reduction, however this would leave India less time to find economic alternatives to HFCs, which are used in air conditioners and refrigerators. This follows the international Environmental Investigation Agency’s warning in June 2013 that HFC producers in India were threatening to release the gases straight into the atmosphere unless they received additional financing to dispose of them. (CleanBiz Asia)
UK and US engineers to collaborate on global water issues
A new transatlantic collaboration has been launched to bring together leading water engineers from the US and the UK to tackle the challenge of providing clean and sustainable water supplies. Clean Water for All was announced at the 2013 Global Grand Challenges Summit, where scientists, engineers and policymakers discussed how engineering solutions could solve the world's most pressing problems by developing international co-operation and frameworks. The partnership will see collaboration between research teams at UK and US universities, who will focus on water treatment and purification, water reuse, storm water management, sustainability of supplies and water infrastructures. The research projects are being supported by the UK Engineering and Physical Sciences Research Council and the US National Science Foundation and participating universities include Exeter, Sheffield, Glasgow, and Oxford in the UK and the universities of Utah, Arizona and Massachusetts in the US. (Edie)
New toolkit puts economic value on ecosystems
A collaborative project between the United Nations Environment Programme World Conservation Monitoring Centre, the Royal Society for the Protection of Birds, the University of Cambridge, the University of Southampton, Anglia Ruskin University, and BirdLife International is aiming to measure the value of different ecosystems with the aim of improving decision making about land use through using a toolkit which allows protected areas to be assessed and to demonstrate their value. The Toolkit for Ecosystem Service Site-based Assessments (TESSA) shows what the value of an area would be it if were no longer protected. Where possible, the value is shown in monetary terms allowing the worth to be relatable. Dr Francine Hughes at Anglia Ruskin University said that “nature provides people with many benefits and though it is easy to talk about them, it is very difficult to measure them or to put economic value on them. The toolkit is a way of giving protected area managers another arsenal in their kit.” (Blue & Green Tomorrow)
Technology and Innovation
UV powered path absorbs energy to give light
The UK firm Pro-Teq Surfacing has launched a re-surfacing technology that turns paths into alternative sources of eco-friendly lighting by absorbing energy during the day to shine later at night. The re-surfacing technology, Starpath, absorbs ultraviolet rays, which enables the coated surface, whether concrete, tarmac or timber, to glow in the dark. The non-slip, water-resistant coating technology, which is currently being trialled at a park in Cambridge, is being marketed as a viable alternative to street lighting and a way for cities to minimise their carbon footprints. Hamish Scott, the owner of Pro-Teq Surfacing said that Starpath extends the life cycle of existing paths and lanes, as there is no need to remove and replace current surfaces. The innovation comes alongside a call by the charity Sustrans for the development of better cycling and walking links across the UK to encourage more sustainable local travel. (Eco Business)
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