Extend food shelf-life by one day and save £600m, says WRAP
Extending the product life of everyday foods by just one day could prevent 250,000 tonnes of food waste each year, according to UK waste advisory body WRAP. The charity released a report on Tuesday, detailing five ways in which suppliers and retailers can easily extend the product life of everyday foods without any ill-effect. These suggestions include; adjusting delivery times to increase product life, removing the “display until” dates from packaging, reviewing supply chain practices such as stock rotation, and challenging safety and quality buffers to identify opportunities to extend product life. The report has the backing of the Food Standards Agency (FSA), with a representative stating that the proposals could feasibly extend food life without compromising safety. Product life increases of just one day would save around 5% of the UK’s preventable food waste, with a benefit to consumers of around £500 million and retailers saving around £100 million. (Edie)
Technology & Innovation
Ford launches new app to help electric car owners drive efficiently
Car manufacturer Ford has launched a free gaming-style app that lets drivers use their smartphone to remotely manage their electric vehicles. Drivers can use the MyFord app to check the range of the car, plan journeys to include charging points, and set a specified cabin temperature before a journey. The app also highlights the environmental benefits of using an electric vehicle by displaying the amounts of CO2 saved in relatable concepts, such as exercise balls or hot air balloon-fulls. The app rates driving styles as either ‘zen’ for energy efficient, or ‘zippy’ for not, with tips offered to improve energy efficiency. The app has taken inspiration from gaming and fitness apps by offering badges, pop-ups and alerts to also let drivers know when they have reached certain zero-emission benchmarks. It also tracks driving habits over time and monitors how changes in behaviour affect energy consumption. (Edie)
Responsible Investment
Triodos drives up profits as lending to sustainable businesses grows
Ethical bank Triodos, which invests in sustainable sectors such as microfinance, organic agriculture, cultural projects and renewable energy, saw profits soar 17 per cent over 2014, after adding almost 60,000 new customers and increasing lending to sustainable businesses. The bank posted net profits of €30.1 million in results published yesterday, up from €25.7 million last year, which in turn marked 14 per cent growth on 2012. At the end of 2014, it managed 17 investment funds for retail and institutional investors, totalling €2.7 billion in assets under management. The bank said it had seen a growing interest in banking sustainably from a range of organisations as well as individuals. “While society continues to struggle with environmental, social and economic problems, we notice it is no longer governments, but individuals and entrepreneurs that are at the vanguard of efforts to build a better world,” said Triodos Bank chief executive Peter Blom. (Business Green)
Corporate Reputation
Fed chair raises concerns about Wall Street culture and ethics
Federal Reserve Chairwoman Janet Yellen raised concerns about the state of Wall Street’s culture and ethics on Tuesday, echoing similar comments from other regulatory officials and increasing pressure on the biggest US banks to improve. While she did not mention specific incidents, other regulatory officials have pointed to continuing probes of banks for currency-market and interest-rate manipulation, tax evasion and efforts to skirt international sanctions among the reasons to be concerned about Wall Street’s culture. Big banks, including J.P. Morgan Chase, Citigroup and Bank of America, have paid record-setting fines to settle civil probes into pre-crisis mortgage-related conduct. “These incidents, both individually and in their totality, raise legitimate questions of whether there may be pervasive shortcomings in the values of large financial firms that might undermine their safety and soundness,” Ms Yellen said. (Wall Street Journal)
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