CDP: Many companies unaware of deforestation risks to supply chain
According to a new report by the UK Carbon Disclosure Project (CDP), companies are threatening shareholder value because they are unaware of the deforestation risks in their supply chains. On behalf of 184 investors, the CDP asked 786 companies to disclose their exposure to deforestation risks through their use of palm oil, soy, biofuels, timber and cattle products. The report, The commodity crunch: Value at risk from deforestation, found that out of 786 companies across 26 countries, 139 are yet to recognise security of supply and price volatility as operational risks within their supply chains. Companies said that the key challenges when trying to source sustainable commodities included the lack of traceability in global commodity supply chains, challenges with certification and regulatory uncertainty. The chief executive of CDP, Paul Simpson, said that “many companies do not understand the full complexity of deforestation risks in their supply chain. But if no action is taken on this, there will be many more supply chain disasters like the ‘horse meat’ scandal to undermine shareholder value.” (Edie; Blue & Green Tomorrow)
Environment
Study: Just 90 companies caused 63% of man-made global warming emissions
New research claims that climate damage has been predominately caused by just 90 companies that between them have been responsible for 63 percent of the greenhouse gas emissions generated between 1751 and 2010. According to the research, which will be published in the academic journal Climate Change, half of the estimated emissions were produced in the past 25 years and all but seven of the 90 firms were energy companies. The list of 90 companies includes Chevron, Exxon, BP, Royal Dutch Shell, Saudi Aramco, Gazprom and Statoil, as well as government run coal industries in China, North Korea and Poland. Al Gore, the former US vice-president, said that the “study is a crucial step forward in our understanding of the evolution of the climate crisis. The public and private sectors alike must do what is necessary to stop global warming. Those who are historically responsible for polluting our atmosphere have a clear obligation to be part of the solution.” (The Guardian)
Global brands link with WWF to form bioplastic alliance
Global brands including Nike, Procter & Gamble, Unilever and Coca-Cola have launched the Bioplastic Feedstock Alliance (BFA) in partnership with the WWF to promote the development of plant-based plastics. The organisation, which also includes Ford, Heinz, and Danone, intends to bring together experts from industry and academia to develop and support “science, collaboration, education and innovation and to help guide the evaluation and sustainable development of bioplastic feedstocks.” Erin Simon, packaging expert at the WWF, said that “ensuring that our crops are used responsibly to create bioplastics is a critical conservation goal, especially as the global population is expected to grow rapidly through 2050. This alliance will go a long way in ensuring the responsible management of natural resources used to meet the growing demand for bioplastics. The move follows an announcement that the Swedish packaging firm Tetra Pak is planning to roll out bio-based polyethylene in its carton packs across the world if a trial in Brazil is successful. (Edie) UK to end public financing of overseas coal power plants
The UK Government has announced that it will join the US by no longer financing coal-fired power plants overseas, except in rare circumstances. The UK energy and climate change minister, Ed Davey, said that it was “completely illogical” to decarbonise the UK economy and power sector whilst financing the industry in other countries. Hannah Griffiths, the head of campaigns and policy at the World Development Movement, said that “the UK Government should also act to stop UK private finance supporting coal. Regulating the finance sector is our only hope of keeping coal in the ground.” According to a report published by a coalition of European NGOs earlier this week, UK banks are the largest European financers of coal. The Royal Bank of Scotland, Barclays, HSBC and Standard Chartered are estimated to have financed the coal industry with £10 million between 2005 and 2013. (Blue & Green Tomorrow)
Employees
Amnesty accuses Hong Kong of “slavery like” conditions of domestic staff
Amnesty International has accused Hong Kong of “inexcusable” inaction over what the NGO claims are “slavery like” conditions faced by thousands of Indonesian women who work in Hong Kong as domestic staff. Amnesty’s report, Exploited for Profit, Failed by Governments, comes after a Hong Kong couple were jailed for attacks on their Indonesian domestic helper, which reportedly included burning her with an iron and beating her with a bike chain. According to the report, Indonesians are exploited by Hong Kong recruitment and placement agencies that take their documents and charge excessive fees, with false promises of high salaries and good working conditions. Amnesty said that the Hong Kong authorities “may point to a raft of national laws that supposedly protect these women but such laws are rarely enforced.” The Hong Kong Labour Department said that “we do not allow abuse of foreign domestic helpers including underpayment of wages, non-granting of weekly rest days and statutory holidays etc. Any abuse that is supported by sufficient evidence will be prosecuted.” (CleanBiz Asia)
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