Top consumer brands pledge to halve food waste by 2025
The world’s top food and drink companies, including Unilever and Nestlé, have promised to halve the food they waste by 2025, seeking to pre-empt government regulation prompted by concern about the environmental, economic and social costs of such inefficiency. The Paris-based Consumer Goods Forum (CGF), a network of some 400 retailers, manufacturers and others said it would work on measuring a baseline for 2016 and then create monitoring and public reporting mechanisms as its members try to cut food lost during production and shipment to stores and maximise the use of remaining waste. “It is a tragedy that up to 2 billion tonnes of food produced around the world is lost or wasted never making it on to a plate,” said Paul Polman, chief executive of Unilever. The CGF said food waste, which often ends up in landfills, is responsible for 3.3. billion tonnes of greenhouse gases annually. (Thomson Reuters Foundation)
Responsible Investment
Bill Gates to double investment in renewable energy projects
Bill Gates is planning to double his personal investment in innovative green technologies to $2 billion over the next five years in an attempt to “bend the curve” in combating climate change. The billionaire philanthropist praised the UN, national governments and campaigners for raising awareness of climate change, but argued that current technologies could only reduce global CO2 emissions at a “beyond astronomical” cost. He therefore urged governments to invest tens of billions of dollars in R&D, on the scale of the US Manhattan and Apollo Projects. Responding to criticism from divestment campaigners, he argued that dumping holdings in oil and gas companies would have little impact, and instead urged “high-risk” investment in potential “breakthrough technologies”, including battery storage and next-generation nuclear. (Financial Times*)
S&P Dow Jones launches new indices for sustainable investors
S&P Dow Jones Indices has launched two environmental and socially responsible indices to help investors track the performance of sustainable investments. Unveiled this week, the S&P 500 Environmental and Socially Responsible Index and the S&P International Environmental and Socially Responsible Index exclude companies with all but the strongest sustainability credentials. Stocks engaging in fossil fuel-heavy industries or in the production or sale of tobacco, cluster bombs, nuclear weapons and other military armaments are automatically rejected. The new indices have been licensed to Goldman Sachs Asset Management, which helped develop the sustainability criteria used in the selection process, using scores from sustainability investment firm RobecoSAM. Alka Banerjee, managing director at S&P Dow Jones Indices, said the new indices “allow investors to invest along their environmental and social beliefs; to make a statement that these things matter”. (Business Green)
Policy
France cracks down on Uber service after protests
France’s interior minister has ordered a ban on the low-cost car-sharing service UberPOP after a day of nationwide protests by taxi drivers. Bernard Cazeneuve said the service was “illegal” and ordered police and prosecutors to enforce its closure. His announcement followed a day of sometimes violent protests by French taxi drivers, who say the US-based firm Uber is stealing their livelihoods. France’s taxi drivers – who have to pay thousands of euros for a licence – say they are being unfairly undercut by UberPOP. The service has been illegal in France since January but the law has proven difficult to enforce. Uber has faced similar teething problems in cities all over the world, with traditional taxi drivers protesting against being undercut by the unlicensed company. But licensed taxi drivers have been criticised for being slow to adopt the app-based geolocation technology behind Uber’s success. (BBC)
Lancashire county council rejects Cuadrilla fracking bid
UK local councillors have unanimously refused a planning application for fracking in a move which has been welcomed by environmental campaigners. Lancashire County Council’s development control committee turned down Cuadrilla’s application to explore for shale gas at Roseacre Wood. The vote on Thursday was in line with recommendations by planning officials who said it should be turned down because it would cause an increase in traffic which would result in “an unacceptable impact” on rural roads and reduce road safety. In a statement, shale company Cuadrilla said: “We are disappointed but not surprised that Lancashire County Council’s development control committee has denied planning consent for our application… We are committed to the responsible exploration and development of the huge quantity of natural gas locked up in the shale rock deep underneath Lancashire.” (Guardian)
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