Investors are to step up pressure on FTSE 250 companies after it was revealed that there are still 50 all-male boards among the group, and some without any programmes to get more women on their boards. Fund managers such as Aviva Investors and Aberdeen Asset Management will press companies to meet Lord Davies’ 2015 target of having 25 percent of board posts taken by women. Aviva yesterday said that, if necessary, it would vote against the reappointment of remuneration committee chairmen at annual meetings. Abigail Herron, head of responsible investment engagement at Aviva, said that, “the FTSE 100 has made lots of changes already but the key battleground is the FTSE 250.” Denise Wilson, chief executive of Lord Davies’ steering group, Women on Boards, added that, “it is surprising that after three years 50 companies have still not grasped the opportunity to diversify their boards and include women … The credibility of British business is at stake and [these companies must] step up like the FTSE 100 has.” (Independent)
Environment
Green buildings study to investigate business case for sustainable workplaces
A global project has launched to investigate the health and productivity benefits for people working in more sustainable office buildings. The World Green Building Council (WorldGBC) has launched the study in order to strengthen the business case for greener, low-carbon properties. Studies have already found that improvements in ventilation and lighting design in office spaces can result in improved productivity, and that retrofitting offices to be greener aids employee recruitment and retention. WorldGBC hopes to use this study to establish a common way of measuring the benefits of sustainable workplaces to support investment in greener buildings. Geoff Dutaillis, group head of sustainability at Lend Lease, one of the corporate sponsors of the study, said that, “as the fight for talent increases, corporate health and wellbeing strategies are increasingly being used as a competitive edge to attract and retain the best people. The spaces we occupy are an integral part of this endeavour.” (Blue and Green Tomorrow)
China considers smog research facility
Plans have been submitted to the Chinese economic planning body for two atmospheric simulation chambers to help research smog. The chambers, each with a volume of about 300 cubic metres, are part of a broader environment project to be built on the outskirts of Beijing. The project, which is estimated to cost 500 million yuan ($81.4 million), is being proposed by the Chinese Academy of Sciences and will be the largest smog-research facility in the world. It will be devoted to research on the formation of smog and its control and will be open to scientists worldwide for research purposes if approved. Last week, President Xi Jinping said that pollution was Beijing’s biggest challenge. Frequent bouts of smog across the nation have led to a reduction of industrial activities, raised pollution alerts and forced authorities to impose bans on vehicle use. (Eco-business, Bloomberg)
Corporate Reputation
Rolls Royce faces fresh bribery allegations in India
Rolls-Royce has been plunged into fresh crisis after India became the latest country to launch a formal investigation into allegations of bribery and corruption at the British defence and engineering firm. The FTSE 100 company is already the subject of a criminal investigation into claims it paid multimillion-pound bribes in Indonesia and China. India’s defence ministry ordered the Central Bureau of Investigations (CBI), the country’s fraud squad, to investigate claims that Rolls paid bribes to secure government contracts. Local media said all of Rolls’ contracts in India had been put on hold pending the outcome of the inquiry, with suggestions that ministers had considered blacklisting Rolls from any further deals with the armed forces. India is attempting to crack down on alleged corruption in defence procurement, and last month terminated a £466 million helicopter order with the British-Italian company AgustaWestland following accusations that the firm bribed officials. (Guardian)
Circular Economy
Dyson exploring use of biopolymers for ‘closed loop’ vacuum cleaners
Dyson is exploring the feasibility of using biopolymers in its products to improve environmental performance, potentially through the adoption of a closed loop engineering process. The British manufacturer is working with the University of Cambridge and the Centre for Process Innovation on a circular economy-led project, funded by the Technology Strategy Board. According to the team at Dyson, biopolymers exhibit a number of properties, such as good transparency, glossy appearance, high rigidity and ability to tolerate various types of processing conditions, which make them ideal for the product portfolio. Dyson’s external research programme manager Owen Nicholson said that, “biopolymers are really exciting because they have the potential to be reused infinitely and that is the perfect material if you want to look at recycling.” Dyson is actively looking at “closed loop scenarios” for the materials, meaning that they could be reclaimed, broken down and re-made into new products. (Edie)
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