The World Bank will invest heavily in clean energy and only fund coal projects in “circumstances of extreme need” because climate change will undermine efforts to eliminate extreme poverty, says its president Jim Yong Kim. The development bank has traditionally been one of the world’s largest funders of fossil fuel projects, and has previously been accused of adding to the problem of climate change. “We are going to have to focus all of our energy to move toward renewable and cleaner forms of energy. But on the other hand we believe very strongly that the poorest countries have a right to energy,” said Kim. Talking ahead of a UN climate summit in Peru next month, Kim said he was alarmed by World Bank-commissioned research which finds that the world is already “locked in” to 1.5°C global warming. The report warns that climate change poses a substantial risk to development and cutting poverty, due to impacts on crop yields and water scarcity. (Guardian)
Stakeholder Engagement
Microsoft, Unilever, M&S taking part in #BackClimateAction ‘tweetathon’
The UK’s Department of Energy and Climate Change (DECC) is today inviting the public to pose questions and present ideas about how climate change will impact their life, under the banner #BackClimateAction. The ‘tweetathon’ has been orchestrated by environmental engagement charity Hubbub and has secured the support of a host of high profile brands, including Microsoft, Unilever, Marks and Spencer, Nestlé, Siemens-Bosch, BT, and Tesco. Hubbub’s Trewin Restorick said the aim of the tweetathon was to reach out “beyond the usual suspects” and help “people understand the impact that climate change will have on their daily lives”. The initiative comes the day after a new survey revealed that 73 per cent of the British public want to see a global deal on climate change agreed in Paris next year. However, the poll also revealed widespread uncertainty over how climate change will impact individuals and some scepticism over the argument that tackling climate change delivers net economic benefits. (BusinessGreen)
Supply Chain
Pepsi True savaged on Amazon over palm oil controversy
Last week, PepsiCo’s newly launched Pepsi True was pulled from Amazon.com after being overwhelmed by negative reviews from thousands of activists mobilised by SumOfUs.org and the Rainforest Action Network (RAN), who are urging the company to adopt better palm oil policies. Conventional palm oil, or what RAN and other organisations call “conflict palm oil,” has been responsible for environmental destruction, the abuse of land rights and child labour. According to RAN, while other companies including Unilever, Cargill, Mars and ConAgra have been making changes within their supply chains, PepsiCo is dragging its feet. PepsiCo has announced a revamped palm oil commitment for 2016, but SumOfUs describes this as “weak, especially on slavery, enforcement, and a plan for implementation.” Meanwhile PepsiCo has called the outcry an “orchestrated effort” to misinform consumers. Pepsi True was returned to Amazon on Friday, but continues to attract negative reviews. (Triple Pundit; Sustainable Brands)
Jewellery industry takes steps to eliminate “conflict gold”
Major US jewellery companies and retailers have started to take substantive steps to eliminate “conflict gold” from their supply chains, according to the results of a year-long investigation by the Enough Project. Landmark legislation in the US has aimed to tackle the trade in conflict minerals from the Great Lakes region of Africa. However, progress has so far been concentrated on the most problematic minerals – tin, tantalum and tungsten (3T) – rather than gold. The report says that while two-thirds of the eastern Congo’s 3T mines are conflict-free today, “gold remains a major financial lifeline for armed actors.” According to the Enough Project’s new rankings, however, the industry is starting to respond to these concerns. Although three of the top 14 US jewellery companies and retailers scored zero in the rankings, researchers found policies in place and initiatives on the ground at companies including Signet Jewelers, Tiffany & Co and JC Penney. (Eco-Business)
Policy
Report: EU’s most sustainable fishermen ‘must be rewarded’
A new study by the Institute for European Environmental Policy (IEEP) recommends that fishermen who bring social and economic benefits to local communities without damaging the marine environment should have more opportunities to fish than others. Until now, fishermen have been given permission to fish based on historic catch records. However, the amended European Union Common Fisheries Policy (CFP) requires member states to change the way they assign fishing opportunities to reward the ‘best’ fishermen. The IEEP report suggests that boats best meeting a new set of environmental, social and economic criteria should receive ‘quota bonuses’. IEEP principal marine advisor Euan Dunn said: “The way we dish out fishing opportunities must change if our Governments are to comply with the new laws to reward and encourage environmentally friendly fishing which benefits local communities.” (Edie)
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