Most of the world’s workers have insecure jobs, ILO report reveals
A global shift to more insecure jobs since the financial crisis is fuelling growing inequality and higher rates of poverty, according to a new report that estimates only a quarter of the world’s workers are on permanent contracts. The International Labour Organisation said the remaining three quarters are employed on temporary or short-term contracts, working informally often without any contract, are self-employed or are in unpaid family jobs. A worldwide trend away from secure jobs risks “perpetuating a vicious circle of weak global demand and slow job creation” that has dogged many countries since the crisis, the UN agency said. In its World Employment and Social Outlook 2015, the agency highlighted a rise in part-time employment, especially among young women. Though some workers welcome the flexibility of part-time jobs and self-employment, often such roles are down to lack of choice, it said. (Guardian)
Corporate Reputation
Drug trials firm to challenge plans for greater results transparency
The long-fought battle for greater transparency in human drug trials is facing a major setback after a legal challenge from within the pharmaceutical industry. The UK’s Health Research Authority (HRA) has proposed that all drug trials must in future be registered, to prevent drug companies from airbrushing out bad results by not publishing them. But Richmond Pharmacology, a company which conducts clinical trials on behalf of major pharmaceutical firms, has received permission to bring a judicial review of the HRA’s plans. Sense About Science, one of the organisations behind the AllTrials campaign for clinical trials transparency, says it is appalled by the challenge. “Hidden and unregistered trials are compromising patient care, and, rightly, causing public outrage,” said Síle Lane, director of campaigns. Richmond Pharmacology said it was not at liberty to comment at the moment, because the case was in the hands of its lawyers. (Guardian)
Inclusive Business
Community crowd-funding bank launches in Australia
A new Australian bank claims to be the world’s first combination of crowd funding and banking. “act.” is a division of Community Sector Banking, a joint venture between Bendigo Bank and Community 21, a banking service for the not-for-profit sector. act. provides the same products most people use, such as savings accounts, credit cards and home loans. The difference is in what the bank does with the profits it makes with these products. For example, for a $250,000 home loan, the customer will be given $31.16 “impact dollars” a month to give to a community project of their choice listed on the act. website. Each project has a time limit of 60 days to get funded, and if not enough money is pledged, the money is directed back to the customer to be put towards a different project. (Eco Business)
Energy
Energy groups axe $100bn in new spending after oil rout
More than $100 billion of spending on new projects by the world’s energy companies has been slowed, postponed or axed following the oil price plunge. Companies including Royal Dutch Shell, BP, ConocoPhillips and Statoil have led moves to curtail capital spending on 26 major projects worldwide. The delays and cancellations come amid a wider retrenchment by the industry that has seen thousands lose their jobs and led to a slowdown in the US shale boom. The research by consultancy Rystad Energy shows that producers have targeted high-cost areas such as west Canada as they have trimmed spending, and the project deferrals that have already been announced could be just the start of a big wave of delays. Goldman Sachs has identified 61 new projects, more than half of those awaiting final approval, as uneconomic at an oil price of $60 a barrel, putting more than $750bn of capital expenditure at risk and 10.5m barrels a day of peak production. (FT*)
Technology & Innovation
Solar powered ATMs to deliver clean drinking water in Pakistan
Punjab province is set to launch an innovation for water-short Pakistan: solar-powered machines that look like ATMs, but dispense clean water instead of cash when a smart card is scanned. Users are issued a card they can use to claim a daily share of water. The project, a collaboration between the Punjab Saaf Pani (Clean Water) Company and the Innovations for Poverty Alleviation Lab (IPAL), a research centre in Lahore, aims to install a water ATM on each of a series of water filtration plants being established in rural and urban fringe areas of Punjab province. The machine is designed to help the government cut water waste and ensure people have access to clean water, said Jawad Abbasi, a programme manager at IPAL. “The innovative machines will help the government maintain a record of the exact quantity of clean drinking water being dispensed in a day in a specific locality, besides ensuring its quality,” he said. (Eco Business)
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