Food and drink companies called to be more accountable for water usage
Supermarkets and food producers should be made to account for the amount of water they use if critical global shortages are to be prevented, according to scientists. Food production takes up 90 percent of water use worldwide, leading to calls for formal recordings in company filings to ensure the true costs of production are recognised. Professor Tony Allan from Kings College London is urging ministers and professional bodies to push through changes, making accounting for water compulsory and aims to advance the introduction of reporting and accounting rules on water. Companies such as Coca-Cola and Kraft, as well as supermarkets including Walmart are being encouraged to take a lead in establishing measures to capture the value of water. Professor Allen is also working with the World Business Council for Sustainable Development, which is aiming to double agricultural production by 2050 without any extra use of water. (Independent)
Strategy
Sustainability top priority for quarter of British small businesses
A quarter of small and medium sized enterprises (SMEs) in Britain have sustainability among their top three priorities for the coming year, reflecting an understanding of the role sustainability can play. Research by Lloyds Bank found that over half of SMEs polled recognised the cost benefits of implementing sustainable business practices, with some stating they have already seen improved profitability as a result. Other benefits included making a positive contribution to the environment, becoming a more attractive employer, and having a positive impact on communities. Nearly nine out of 10 said ignoring sustainability could harm their business by impacting on profits, brand perception, their competitive edge and other business areas. Stephen Pegge, external relations director of Lloyds Banking Group, said that, “businesses clearly see the benefits of sustainability, and they are carrying out their environmental responsibilities through recycling and being energy efficient.” (BlueandGreen Tomorrow)
Waste
China facing ‘e-waste’ tsunami after new-rich dump first gadgets
China is primed to lead a worldwide surge in ‘e-waste’ over the next four years as millions of households start dumping their first fridges, televisions, washing machines and computers to buy newer models. The country throws out over a million tonnes of e-waste every year and is quickly having to build facilities to deal with the increase in waste. According to researchers from Solving the E-Waste Problem Initiative the majority of the growth in e-waste will be driven by China and other emerging economies; raising the risk that a high proportion of recycling will be carried out by unlicensed processors which can themselves be a dangerous source of pollution. A report by the UN has warned that globally, the annual weight of discarded electronic goods will expand by 30 percent to 60 million tonnes by 2017. (Times*)
Corporate Reputation
Drug companies accused of holding back complete information on clinical trials
A UK parliamentary committee has claimed that clinical trial results are being routinely withheld from doctors, undermining their ability to make informed decisions about how to treat patients. MPs have expressed concern that drug manufacturers appear to only publish around 50 percent of completed trial results. Richard Bacon, a senior member of the committee, said that, “regulators and the industry have made proposals to open up access, but these do not cover the issue of access to the results of trials in the past which bear on the efficacy and safety of medicines in use today” Research suggests that trials which give a favourable verdict on a drug are twice as likely to be published as trials giving unfavourable results. A spokesman from the Medicines and Healthcare products Regulatory Agency said that they would work with partners in the UK and the EU to ensure greater transparency in the dissemination of clinical trials information. (Guardian)
Responsible Investment
$100 million US green bond issue to support over 100 projects
US firm Hannon Armstrong Sustainable Infrastructure Capital (HASI) has announced the sale of $100 million of new asset-backed sustainable yield bonds in an attempt to secure the cash flows generated by more than 100 individual wind, solar and energy efficiency projects. Investors in the bonds will receive information on the level of emissions reductions the bonds support, with the total issuance expected to deliver annual emissions reductions of over 61,000 tonnes. President of HASI, Jeffrey Eckel said that, “HASI continues to find new ways to finance sustainable infrastructure, this represents an innovation in sustainable finance, as investors in these bonds benefit from a quantitative assessment of the greenhouse gas impact.” Sean Kidney, chief executive of the not-for-profit Climate Bonds Initiative said that “while not all 'green bonds' have a direct greenhouse gas impact, this rigorous attempt to estimate the greenhouse gas impact per bond is a welcome financial tool in the critical task of reducing greenhouse gas emissions” (BusinessGreen)
COMMENTS