In the continuing furore about its offshore tax avoidance, Google has revealed that it doubled the amount of tax paid outside America last year. The internet giant paid $771 million in non-US corporation tax on foreign profits of $8.67 billion – equivalent to a rate of 8.9 percent. This was more than double the 3.2 percent paid the year before. Google has been under pressure to pay more tax in the UK after the Commons Public Accounts Committee’s chairman Margaret Hodge claimed it was “evil” for paying so little corporation tax in Britain, which is its biggest market after America. The web giant legally avoids tax by choosing to process virtually all its non-US sales in Ireland and shifting profits to tax havens such as Bermuda. Amazon, Facebook and Apple have also come under fire over offshore tax avoidance, as UK companies such as John Lewis and Sainsbury’s say they are trading at a significant disadvantage. (Independent)
Environment
Environmental management budgets to surge in 2014
More than 62 percent of corporations worldwide will increase spending on environmental management initiatives in 2014 and 31 percent will increase spend in the double-digits, according to a new report. The study, by independent analysts Verdantix, surveyed 250 heads of environment, health and safety (EH&S) in 13 major economies and found that just 3 percent plan to cut spending in 2014 compared to 2013, whilst 36 percent will hold spending in line with inflation. Particular hotspots for global environmental spending for the year ahead will be EH&S software, environmental reporting, auditing and compliance, whilst product sustainability has also emerged as a priority theme. Verdantix CEO, David Metcalfe said that, “spending on environmental issues such as air, soil and water pollution, permitting, waste, water and GHG emissions is in robust shape in 2014. Compared to spend on energy management and sustainability, the EH&S market looks much more attractive.” (Edie, Ethical Performance)
Pollution making Beijing hazardous place to live
A report has concluded that severe pollution in Beijing has made the Chinese capital “barely suitable” for living. The report, by the Beijing-based Social Science Academic Press and the Shanghai Academy of Social Sciences, ranked the Chinese capital the second most hazardous place to live out of 40 global cities, due to its environmental conditions. China’s smog has brought some Chinese cities to a near standstill, caused flight delays and forced schools to shut. According to Beijing’s Environmental Protection Bureau, a significant level of air pollution covered the city for 189 days in 2013. The study comes as the Chinese government announced this week that it would set up a 10 billion yuan (£990 million) fund to fight air pollution, offering rewards for companies that clean-up operations. Overall the government has pledged 3 trillion yuan to tackle the problem, creating a growing market for companies that can help boost energy efficiency and lower emissions. (Guardian)
Equality
Facebook adds new options for gender
Facebook has announced that it will allow users to customise their gender, after consulting on the subject with gay and transgender advocacy groups. Facebook said that the options, which include “bi-gender”, “transgender”, “androgynous” and “transsexual”, will allow people “to express themselves in an authentic way.” The new options, which will initially only be for those using the site in US English, were formulated after consultations with five leading gay and transgender rights organisations. Facebook engineer Brielle Harrison, who worked on the project and is herself undergoing gender transformation, said that, “there’s going to be a lot of people for whom this is going to mean nothing, but for the few it does impact, it means the world… For the first time I get to go to the site and specify to all the people I know what my gender is” The San Francisco-based Transgender Law Centre welcomed the move, saying “many transgender people will be thrilled” at the news. (BBC; Independent)
Community Investment
Centrepoint launches ‘fundraising movement’ with nine other charities
The UK youth homelessness charity, Centrepoint has brought together nine other similar charities to create a new “fundraising movement” designed to secure corporate partnerships. The programme, ‘End Youth Homelessness’, aims to help its members, which are all local and regional charities, gain national corporate partnerships. Nick Connelly, head of corporate development at Centrepoint, said that, “most issues have a major national brand to represent their beneficiaries. Youth homelessness is a hugely pressing issue, but does not benefit from that type of organisation.” He said it was hoped that, by working collaboratively, the charities would have a stronger voice in their policy and advocacy work. The movement has already secured national partnerships with the construction company Taylor Wimpey, property and asset maintenance firm CLC Group, and the shoe retailer Dune. The partnership with Taylor Wimpey, which has been running as a pilot, has so far raised £400,000 for End Youth Homelessness. (Third Sector)
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