Report: International trade strategies for water could spark global conflict
According to a new report by Friends of the Earth, trade investment strategies driven by corporate firms are threatening to turn water into a commodity. The report, Economic drivers of water financialisation, highlights a number of cases across the world in which corporations, financial institutions, trade agreements and cooperation strategies are paving the way for water privatisation. The study suggests that these factors often cause territorial conflicts while providing greater profits for the corporations concerned. William Waren, from Friends of the Earth US, said that “the traditional view under international law is that water is a natural resource and part of the public commons, not a good or product. It is essential that nations stop any attempt by corporate and financial interests to turn water into a mere commodity traded on international markets." (Edie)
Tax
Tata Steel and Ineos: UK plants at competitive disadvantage to European competitors
The manufacturing companies that are headquartered in the UK have warned that green taxes are pushing it to “crisis point” as they are putting UK plants at a competitive disadvantage to European competitors. The Indian firm Tata Steel and the Swiss chemical firm Ineos, both of which are headquartered in London, are urging the UK Government to extend their pledge to roll back environmental levies on energy bills to manufacturing plants. Official estimates show that UK Government climate change policies are predicted to add as much as 50 percent to the electricity prices paid by industry by 2020. Karl Koehler, the chief executive of Tata Steel’s European operations, said that “UK manufacturing plants face electricity costs that are as much as 50 percent higher than our key competitors in France and Germany. The UK chancellor must show real commitment to fair energy costs for foundation industries such as steel.” (Financial Times*)
UK MPs support Amazon Christmas boycott over tax avoidance
Eight UK MPs are backing calls for a consumer boycott of the US retailer Amazon by the Ethical Consumer magazine, which claims that Amazon is the UK’s number one corporate tax avoider. It emerged earlier this year that Amazon had paid £2.4 million tax on £4.2 billion sales generated in the UK, which amounted to just 0.06 percent of the company’s turnover. Margaret Hodge, the chair of the UK public accounts committee, said that “boycotting Amazon is not anti-business, it’s pro-fairness.” Amazon was questioned by the UK Government in 2012 over its tax avoidance policies. Tim Hunt, the director of Ethical Consumer, said that “we’re calling for a boycott of Amazon in response to the public’s anger at the scale of Amazon’s tax avoidance. Our aim is to mobilise consumer power to make Amazon pay a fair rate of tax.” (Blue & Green Tomorrow)
Employees
Regulators urged to improve protection for whistleblowers
Members of the UK Government are calling for bank chiefs and regulators to beef up the protection of employees who sound the alarm about bad corporate practice to ensure that employees are encouraged to report issues sooner rather than later. Andrew Tyrie, a UK MP, said that claims the Royal Bank of Scotland has been mistreating small business customers has highlighted the need for a better regime to encourage employees to come forward when they have spotted serious issues. In October 2013, the UK Financial Conduct Authority said that it would consult on a number of whistleblowing recommendations by the UK Parliamentary Banking Commission but rejection the Commission’s suggestion of ordering restitution to employees who were mistreated after whistleblowing, arguing that it would be better if an employment law body undertook this responsibility. (Financial Times*)
Waste
Report: UK missing the boat on extracting value from waste
According to a new report by the UK Associate Parliamentary Sustainable Resource Group, the UK is missing out on opportunities to extract greater value from its waste at home and abroad. The report warns that a lack of quality in the waste supply chain is limiting the UK’s export options and that a greater drive in demand for recycled materials needs to be created within the UK marketplace. The report makes over 20 recommendations to central government and industry on how to build the most economically and environmentally robust system for waste and materials treatment. It suggests that a percentage of revenue for the UK Government’s planned levy on plastic bags, which is due to come into force in England in 2015, could be used to fund a targeted communications campaigns around the area of materials capture and quality. (Edie)
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