Large US companies prepared to pay price on carbon
At least 29 of the US’s biggest companies, including General Electric, Microsoft and Walmart, as well as five oil companies, have announced that they are planning their future growth and financial forecasting on the expectation that the US government will force them to pay a price for carbon pollution as a way to control negative environmental effects. A spokesman from ExxonMobil said that, “ultimately we think the government will take action through a myriad of policies that will raise the prices and reduce demand of carbon polluting fossil fuels.” Economists agree that putting a price on carbon pollution is the most effective way to fight global warming. Whilst businesses do not currently know what form future costs may take, by planning for them they are acknowledging that a carbon price could be an inevitable part of their financial future. (New York Times)
South African Government to incentivise energy efficiency through tax deductions
The South African Department for Energy has launched the ‘Private Sector Energy Efficiency Project’ in conjunction with the National Treasury, the National Business Initiative and the South African National Energy Development Institute, following poor performance in the area of energy efficiency in recent years. The project offers businesses a tax incentive if they can show that they have reduced their electricity consumption: for each kilowatt hour saved, businesses will get a 45 cent tax relief with a focus on reducing carbon intensity. The South African Government has acknowledged previous poor performance; it was rated 20th on the list of worst greenhouse gas emitters in the world by the UN’s environmental programme but is aiming to achieve a 15 percent reduction in electricity consumption by 2015 through this project. (ENCA)
Employees
US Fast-Food workers on strike
Employees of many fast-food chains are on strike in New York and 100 other US cities today following an on-going campaign to raise the industry minimum wage to $15 per hour, an increase of around 67 percent from the current average. Today’s strikes are the latest in a round that began a year ago, and come amid many fast-food chains cutting labour costs by increasing self-service methods. Industry officials worry that a rise in salaries would lead to increases in fast-food prices and could lead to increased costs being pushed onto consumers. Stephen Caldeira, president of the International Franchise Association said that, “increasing the cost of labour would lead to higher prices for the consumer, lower foot traffic and sales, and ultimately lost entry-level jobs.”(Time Out, New York Times)
Environment
TUI partners with Boeing to accelerate sustainable aircraft technologies
Global travel company TUI has partnered with aircraft manufacturer Boeing to accelerate the creation and production of sustainable aircraft technologies. Boeing’s ‘ecoDemonstrator’ programme aims to engage with policy makers in order to promote further adoption of sustainable technologies, and opportunities to accelerate new technologies as well as investigate methods for improving recovery and reuse of aircraft materials. Johan Lundgren of TUI Travel said that “the ecoDemonstrator programme sets a benchmark in research and development; it has the potential to drive meaningful change in the industry.” Earlier this year, TUI announced that it had achieved its carbon reduction target of 6 percent two years ahead of schedule due to operational efficiencies, fuel conservation activities and airline enhancements. (Edie)
Asian judges’ network formed to protect natural capital
A network of Asian judges has formed to enforce environmental laws and help preserve natural capital in Asia, drawing from judges and representatives of courts, environment ministries and civil society from Asia and the Pacific. The Asian Development Bank (ADB) hosted the launch of the network in partnership with the United Nations Environment Program, the WWF, the US Agency for International Development and the international NGO, the Freeland Foundation, to address the increased threat to natural capital in Asia. The network aims to spread understanding of the true economic value of natural capital and its contribution to socioeconomic development. Threats to natural capital come from not only the huge demand for resources but damaging practices such as illegal logging, wildlife poaching and pollution. A spokesperson from ADB said that “chief justices and their senior judiciary play a critical role in improving environmental enforcement and strengthening the rule of law.” (CleanBiz Asia)
Recycling
Plan for first ‘flat panel’ display recycling plant approved
The UK recycling group, Electrical Waste Recycling Group (EWRG) has announced that it has received approval from the Environment Agency to launch what it claims is the world's first recycling plant to process LCD flat panel displays. There are currently around 1 million used flat panel displays, which come from flat screen TV’s and monitors, entering the recycling system each month, containing mercury and becoming hazardous waste. A spokesperson from EWRG said that the UK needs a new plant for recycling these displays due to the “mounting volume of flat panel displays being stockpiled in warehouses awaiting a commercial solution.” The new process claims to speed up current recycling operations from 15 minutes per display to six seconds and EWRG says that it is already in talks with other groups about relieving current backlogs. (Edie)
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