British oil giant accused of bribery in tussle over Africa’s oldest national park
Contractors and agents working on behalf of major London-based oil firm, Soco International, paid bribes to officials and rebels in the Democratic Republic of Congo in their bid to explore for oil in Africa’s oldest national park – according to anti-corruption activists. The company has been conducting studies on the feasibility of oil drilling in Lake Edward in Virunga, the Unesco world heritage site. Plans to explore for oil there have met fierce resistance from environmental groups concerned by the impacts on rare animals and local fishing communities. Undercover investigators making a documentary in conjunction with the non-governmental organisation Global Witness (GW) have allegedly filmed Soco representatives handing out envelopes of cash to park rangers and villagers. Soco said it complies with the best business practices and has recently halted exploration in the park, stressing its sensitivity towards biodiversity. Commenting on GW’s bribery investigations, Soco said: “Whilst we take allegations of this nature seriously it is only reasonable to expect relevant evidence to be provided so we can investigate”. (Independent)
US pharmacy giant CVS ends tobacco sales and changes name
US pharmacy chain CVS Caremark has stopped selling tobacco products at its 7,700 pharmacy locations across the US, nearly a month earlier than planned. CVS expects to lose about $2 billion in annual revenue from the move, which rivals claim will have little impact on reducing smoking. “By eliminating cigarettes and tobacco products from sale in our stores, we can make a difference in the health of all Americans”, said CVS chief executive Larry Merlo. The company has also changed its name to CVS Health to reflect its broader commitment to healthcare. “As CVS Health, we are tobacco-free, reinventing pharmacy and taking our place among leaders in the health care community”, Merlo added. The White House issued a statement applauding the decision and calling for others in the industry to follow suit. It “will help advance my administration’s efforts to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down healthcare costs”, said US President Barack Obama. (BBC)
Responsible Investment
Vivienne Westwood invests £1 million into renewable energy start-up Trillion Fund
Fashion mogul and environmental activist Vivienne Westwood has become a major shareholder in Trillion Fund, a renewable crowd-funding platform for wind and solar farms. Westwood will act as an ambassador for the project, which enables people to engage and invest in renewable energy projects around the globe. Following a merger with Buzzbnk, which allows investors to back social ventures, the organisation is now the largest of its kind in the UK. Westwood said: “The aims of the fund are to redirect savings and investments that might otherwise go to fossil fuel companies through the hands of traditional fund managers into clean energy and other sustainable businesses instead”. Trillion Fund will use Westwood’s investment to build its platform, with an entirely solar powered launch party taking place this week. The unique OFFtheGRID event will offer guests – willing to part with over £100 – the opportunity to invest in three crowd-funded renewable energy projects, alongside sustainably powered music, drinks and dancing. (Blue and Green Tomorrow)
Policy & Research
Singapore launches inaugural report card on commercial buildings
Singapore’s Building and Construction Authority (BCA) has published the country’s first report on the energy use of commercial buildings. Building owners in the city-state can now compare their buildings’ performance against their peers, and use the information to improve their energy efficiency. National Development Minister Khaw Boon Wan said the report “provides an objective assessment of [Singapore’s] green building efforts, based on robust evidence of our energy efficiency performance”. It follows a landmark legislation introduced in 2012 which requires existing buildings to submit building and energy related information. BCA’s third green master plan, also unveiled on Monday, features a range of initiatives to foster greater awareness among tenants and occupants, including a new $S50 million (40M USD) incentive scheme for existing buildings which will support efforts by building owners and tenants from small and medium enterprises to adopt sustainable initiatives. “We hope that more owners of existing buildings and tenants will recognise the important role they play in helping to shape a more sustainable and future-ready built environment for Singapore,” said BCA chief executive, Dr John Keung. (Eco-Business)
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