$4 trillion investor coalition backs new human rights reporting tool
A group of over 60 investors from Europe, North America and Australia, with $3.9 trillion of assets under management, have today urged leading companies to use new guidance to help them “know and show” their management of human rights risks. In a joint statement the investors backed the new ‘UN Guiding Principles Reporting Framework’, published this week, and said they aim to incentivise better corporate governance, management and reporting of human rights risks. The signatories include some of the world’s largest and most influential investors including: Boston Common, APG, Alliance Trust, Aviva Investors, BNP Paribas, Church of Sweden and Wespath. The new Framework, which has already been adopted by companies including Unilever, Ericsson, H&M, Nestlé and Newmont, is designed so that companies focus their reporting on those human rights risks that are most salient to their business activities. (Boston Common Asset Management)
Waste
Unilever partnering with Greenredeem to increase recycling rates for Comic Relief
Unilever UK and Greenredeem, which rewards people for everyday conscious actions, have announced a partnership aimed at increasing recycling rates and other small, positive actions for sustainability. The partnership, which falls under the umbrella of Unilever’s Project Sunlight initiative, will support partner charities and look to motivate members through unique rewards from the Unilever stable of household brands — with the aim of driving recycling rates towards the EU target of 50 percent by 2020. As their launch campaign, Greenredeem and Unilever are inviting Greenredeem members to donate points earned through recycling efforts to Comic Relief, a UK charity dedicated to fighting global poverty. Through Greenredeem’s 135,000-strong member base, Unilever aims to raise a further £20,000 for Comic Relief ahead of Red Nose Day, the charity’s annual TV campaign, on March 13. (Sustainable Brands)
Customers
Walmart launches virtual sustainability shop
American retailer Walmart has opened up an online tool that allows customers to factor in sustainability credentials when purchasing products from its website. The Sustainability Leaders Shop is an online shopping portal that helps customers identify and purchase products from suppliers that are leading in sustainability, allowing customers to access information held in Walmart’s Sustainability Index for the first time. This is an important step to Walmart reaching one of its three broad sustainability goals set in 2007 – to sell products that sustain people and the environment. ‘Sustainability Leader’ badges are attached to products on the website signifying that manufacturer of that product is the best in class among other manufacturers for that product. However, the badges only identify the manufacturers’ overall sustainability credentials and do not refer to individual products. (Edie; Sustainable Brands)
Renewable Energy
Report: Solar to be cheapest source of energy in next 10 years
Solar will be the cheapest form of electricity in many regions of the world in the next 10 years, a new report states. The report, published by Germany’s Fraunhofer Institute for Solar Energy Systems on behalf of think tank Agora Energiewende, forecasts how falling prices of solar photovoltaics will affect the future of the low carbon energy. The report shapes long-term scenarios for solar market development, system prices and costs of energy from utility-scale systems. Solar prices are dropping all around the world. But it is in India, the Middle East and North Africa where solar will demonstrate most potential. The report states in these regions solar will reach a cost of €0.16-€0.37/kWh by 2050. However, because solar power requires a high up-front investment and then gives almost ‘free’ power for a long time, the report warns that “financial and regulatory environments will be key for reducing costs in the future”. (The Climate Group)
Collaboration
Mercy Corps and the Rockefeller Foundation launch Asian Cities Climate Change Resilience Network
Development experts and institutions concerned about making cities more resilient to the impact of climate change can now connect with one another through a new network called Asian Cities Climate Change Resilience Network(ACCCRN). The network, an expanded version of an initiative of the Rockefeller Foundation under the same name, will focus on involving more practitioners in the area of building resilience of urban communities, and will be led by global humanitarian organisation Mercy Corps. The new network is encouraging more experts to become part of the membership-based platform, which would offer them an avenue to create and share knowledge, access resources such as studies of successful climate resilience initiatives and the opportunity to influence agendas on urban resilience to the impact of climate change. By connecting resilience practitioners and their base institutions across Asia under the ACCCRN, the network aims to build a more inclusive approach to urban climate change resilience. (Eco-Business)
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