EU sugar reform a bitter pill for farmers driven into poverty, say campaigners
According to the Fairtrade Foundation, thousands of sugar farmers in developing countries could be driven into poverty because of an EU decision to lift quotas on sugar production from 2017. Fairtrade said UK support for the EU reform was an “example of government policy incoherence” and showed how trade decisions could undermine Britain’s commitment to end global poverty through the sustainable development goals, to be adopted at an upcoming UN summit. “The SDGs have a number of really important trade goals within them. For example, goal 2 talks about smallholder farmers and ending unfair trade rules that are keeping them out of markets,” said Tim Aldred, head of policy and research at the Fairtrade Foundation. A study commissioned by Fairtrade this year showed that the EU reform would cost Mozambique and Swaziland alone more than $40 million from October 2017, with revenue from sugar exports declining by 5-7 percent. (Guardian)
Responsible Investment
S&P Dow Jones launches ‘fossil fuel free’ investment index
S&P Dow Jones Indices, one of the world’s leading providers of financial market indices, has today announced the launch of three new climate change index series, derived from the constituents of the S&P Global 1200. Two different Carbon Efficient Index Series measure the performance of global companies that have a reduced carbon footprint, while the Fossil Fuel Free Index Series includes only companies who do not own fossil fuel reserves. The exclusion rules are based on any use of fossil fuels, including third party and in-house power generation. “Many investors understand that exposure to fossil fuels might create a new type of valuation risk in their portfolios,” said Guido Giese, Head of Indices at RobecoSAM, which conducted research for the index. “The S&P Global 1200 Fossil Fuel Free Index Series was developed for investors who want to address exactly this new risk”. (S&P Dow Jones)
Waste
United States sets goal of cutting food waste by half within next 15 years
The Obama administration has announced America’s first-ever goals for cutting food waste nationwide—setting a reduction target of 50 percent by 2030. Agriculture Secretary Tom Vilsack and Environmental Protection Agency Deputy Administrator Stan Meiburg made the announcement a week before the United Nations reveals global goals to reduce the amount of wasted food. As part of the US effort, the federal government will lead a new partnership with charitable organisations, faith-based organisations, the private sector and local, state and tribal governments to reduce food loss and waste. “An average family of four leaves more than two million calories, worth nearly $1,500, uneaten each year” said Vilsack. Food loss and waste in the United States accounts for approximately 31 percent of the overall food supply available to retailers and consumers and has far-reaching impacts on food security, resource conservation and climate change. (Click Green)
Governance
Fifa reform campaigners call on authorities to ‘follow the money’ more urgently
Fifa reform campaigners have called on the British authorities to do more to “follow the money” and help United States and Swiss investigators tackle corruption at world football’s governing body. Appearing before a parliamentary select committee inquiry into the fallout from the Fifa corruption crisis, Deborah Unger of Transparency International urged the Serious Fraud Office and other agencies to dig deeper. “They could use the follow-the-money tools that are already here. Questions do have to be asked. Has any money been spent in the UK on luxury goods and services, property for example?” Unger said. “It is very hard to go after people directly without knowing if the money has come through the UK. But you can start asking the questions.” In the wake of the arrests and charges that followed dawn raids in Zurich in May and decades of allegations of bribery and corruption at Fifa, the SFO said it would examine whether it had a role to play. (Guardian)
Employees
Corporates losing top tech talent to start-ups
Corporates must go back to “old-fashioned” principles to ensure start-ups don’t steal their top tech talent, according to a ‘Future of the Workforce’ panel debate. Bindi Karia, a start-up expert named as one of GQ’s top 100 most influential women in tech in the UK, said that technology start-ups can now afford to pay the same salaries as large tech companies. “I’m seeing people jump ship from big to small,” she said, reporting that start-ups are deliberately head hunting those with corporate experience to introduce more structured growth to their businesses. Alice Weightman, CEO of The Work Crowd and MD of Hanson Search, said: “We need to go back to old-fashioned principles. If we just double money and shareholder options we’re exposing ourselves in attracting talent in but then losing it very quickly. We need to go back to what are people looking for… why people want to go to work is a great environment.” (HR Magazine)
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