Singapore Exchange to make sustainability reporting mandatory
In a move that will affect a large swathe of companies in Singapore and Southeast Asia, the Singapore Exchange (SGX) will be making it mandatory for all listed companies to publish sustainability reports. Giving the keynote address at the annual International Singapore Compact CSR Summit on Friday, SGX chief executive Magnus Bocker said the exchange is embarking on a one year study to determine what guidelines should be adopted for these reports. He noted that since SGX launched voluntary guidelines for sustainability reporting in 2011, take-up by companies has been slow “We will take a leading role… and we will make it the rule”, Bocker announced. Also speaking at the summit Dr Noeleen Heyzer, Under-Secretary-General of the United Nations, noted that civil society, governments and investors have been demanding greater transparency from global businesses. “Asian businesses are beginning to realise that long-term profit and sustainability depends on how smartly they invest in the society which they are a part of and the environment that sustains them”, she added. (Eco-Business)
Education
HSBC and Global Action Plan teach young people about water scarcity
HSBC and environmental charity Global Action Plan have teamed up to launch a new initiative to encourage young people aged between eight and 14 to tackle worldwide water issues. The Water Explorer Programme will kick off in November as an educational online initiative in 11 countries including the UK, France and Germany. Over 9,000 young people will be tasked with developing practical action plans to tackle water issues including water saving, cleanliness and better access. Global Action Plan managing partner, Andy Deacon, said: “We know that the impacts of climate change will most readily be felt in water scarcity and pollution”. The programme has received $4.3 million funding from HSBC’s Water Programme, which was set up in 2012 to deliver water provision, protection and education globally. The bank’s chief executive, Chris Davies, added: “HSBC and Global Action Plan have created this programme to help young people develop the skills they’ll need for the future and to be ambassadors for a more water-conscious world”. (Edie)
Responsible Investment
SolarCity offers $200 million green bonds in US first
US energy company SolarCity has announced a direct sale of up to $200 million in green bonds directly to consumers, an offering that targets consumers rather than institutional or accredited investors. The California-based company makes money by selling long-term solar energy contracts of 15 to 20 years to home and business owners, who pay for the electricity generated from their rooftop solar panels. They don’t pay for the upfront equipment and installation cost, which is financed by funds SolarCity raises from banks and corporate investors. In what it calls the “nation’s first registered public offering of solar bonds”, SolarCity believes it has created a “simple way for individuals across the United States to earn attractive returns on their investments while also participating in the nation’s transformation to clean energy”. Bonds are an increasingly popular way for renewable generators to raise funds. Last year, UK supplier Good Energy raised £15 million to build up its green energy portfolio through a bond issue that was initially intended to raise £5 million. (Business Green; Forbes)
Technology & Innovation
Tetra Pak launches renewable package made entirely from plant based materials
Tetra Pak, the world leader in food processing and packaging solutions, has announced the launch of the industry’s first carton made entirely from plant based, renewable packaging materials. The new Tetra Rex® carton will be the first in the market to have bio-based low-density polyethylene (LDPE) films and bio-based high-density polyethylene (HDPE) caps, both derived from sugar cane, in addition to Forest Stewardship Council certified paperboard. Charles Brand, VP Marketing & Product Management at Tetra Pak, said: “Together with suppliers, customers and other stakeholders, we are leading the industry towards 100 percent renewable packaging”. Developed in partnership with Braskem, one of the world’s leading biopolymers producers, the new package will be commercially available in early 2015. Brand added that move towards renewable content in their packaging “is not only good for the environment, but also offers our customers a competitive advantage in the overall environmental profile of their products”. (3BL Media)
Green app launched to help retailers with energy efficiency
The Resource Efficient Scotland programme has unveiled the Green Retail App, a tool for small size shops and retailers to save on water, energy and waste. Developed by Enscape Consulting in partnership with Zero Waste Scotland, the free app is aimed at boosting resource efficiency and promoting a circular economy across Scotland. The app, which provides small retailers with videos, practical tools and links advising on how to be more efficient, will be presented at the Retail Energy Efficiency Task Force in London – where large retailers will be advising smaller ones on how to save energy and other resources. Resource Efficient Scotland’s Stephen Boyle, programme area manager for the business sector, said: “The retail sector has the potential to make huge efficiency savings and we are keen to help them realise savings where they can and to make their businesses more efficient”. (Blue and Green Tomorrow)
COMMENTS