90% of CEOs believe businesses should have a social purpose
A survey led by Coca-Cola Enterprises (CCE) has found that nine out of ten CEOs believe companies should fully integrate sustainability into their business, with future leaders showing more willingness to employ corporate social responsibility practices. The study surveyed 150 CEOs, as well as 150 MBA, MSc students and recent graduates across Europe. It found that 90 percent of present and future leaders believe that a successful business should combine profit and social purpose, arguing that this offers relevance to the next generation of customers and employees and ensures business survival. CEO of CCE, John Brock, said: “Forward-looking organisations are already focusing on how to balance profit and purpose, and there is clearly a growing expectation on businesses to do this”. However, the study found that while the majority of current CEOs think their companies already have social and environmental leadership in place, only 19% of the younger generation thinks so. (Blue and Green Tomorrow)
H&M, Unilever commit to climate change disclosure in investor reporting
H&M, Unilever, Nestlé and several other leading companies and investors have committed to reporting climate change in their investor reporting, using the Climate Disclosure Standards Board’s Climate Change Reporting Framework or other comparable frameworks as a matter of fiduciary duty, whether or not required by current regulation. The companies and investors say they share a concern that financial markets do not yet take sufficient account of climate-related corporate performance, risks and opportunities relevant to future shareholder value because of a lack of comprehensive and comparable information in “mainstream” corporate reports. “Acting now on climate change is a must for all actors in society”, said Karl-Johan Persson, CEO of H&M. “Transparently reporting on climate-related information and finding new ideas for reducing greenhouse gas emissions, makes clear business sense”, he added. (Sustainable Brands)
Corporate Reputation
News Corp and Occidental among latest firms to cut ties with ALEC
Rupert Murdoch’s News Corp., Occidental Petroleum, International Paper, and Overstock.com are the latest corporations to say they have left the American Legislative Exchange Council (ALEC). Linda Peterson, Associate General Counsel at Occidental, said in a letter that the company had no plans to make further payments to ALEC, referencing concern that the company could be “presumed to share the positions” on climate change and air pollution regulations held by ALEC. Last week, a number of tech companies including Google and Facebook left ALEC after sustained campaigning by environmental, labour, and community groups. Sierra Club executive director Michael Brune said: “It’s increasingly obvious that you cannot run a successful 21st century company while associating with ideologues from the stone age. Fossil fuel-backed groups like ALEC are on the wrong side of nearly every effort to tackle the climate crisis and on the wrong side of history.” (PR Watch)
Virgin to ditch partners that capture wild whales and dolphins
Virgin’s CEO Richard Branson has announced that Virgin Holidays will now require that its partners and suppliers do not capture wild cetaceans for the entertainment industry, with a number of companies signing the pledge. Branson said: “I feel strongly that this is a very positive development for the industry… the Virgin Pledge seeks to build much-needed momentum to effectively end a brutal practice that continues to this day”. However, conservation charities have argued that Virgin should have done more by ending collaboration with aquariums and marine parks that confine animals in captivity. Whale and Dolphin Conservation, the Born Free Foundation, the Animal Welfare Institute, the Orca Research Trust and the World Cetacean Alliance have released a joint statement, saying: “We are disappointed that Virgin, having taken the initial steps to address the important issue of captive cetaceans, has not shown the leadership needed to help end this form of captive animal exploitation and suffering”. (Blue and Green Tomorrow)
Environment
Coca-Cola on track to be water neutral, but carbon emissions climb
Coca-Cola is on track to balance 100 percent of its water use across global operations by 2020, as the company’s 2013/14 Sustainability Report revealed it replenished 108.5 billion litres of water last year – about 68 percent of its total usage. Coca Cola also renewed water conservation commitments with WWF and the United Nation Development Programme. However the company reported missed targets regarding carbon emissions, with total emissions 16 percent higher than the 2004 baseline. The report explained: “This upward trend in our absolute emissions is a result of the fact that we were not able to scale up our clean energy program as fast as originally intended. Moreover, our volume growth has outpaced our emission ratio improvements”. Coca-Cola CEO Muhtar Kent, said: “We know it will take next-level creativity, partnerships, marketing, distribution and marketplace execution. Achieving our 2020 Vision will also require us to operate more sustainably”. (Edie)
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