Businesses around the world are battling a huge rise in cybercrime capable of bringing down entire companies, according to PwC’s Global Economic Crime Survey 2016. In a report that singles out the UK as a hotbed of economic crime, PwC says the threat of cyber offences is now a “board-level issue”, but warns that not enough companies are taking it seriously enough. Cybercrime has climbed to the second most-reported economic crime globally, affecting 32% of organisations. A previous report found that 38% more cybersecurity incidents were detected in 2015 compared to 2014. PwC said the increase in cybercrime was partly down to greater use of cloud-based systems to store information remotely. Meanwhile, sustainable investment specialist RobecoSAM has released two new reports, to coincide with the introduction of new cybersecurity questions in this year’s DJSI questionnaire. The first explores how companies manage cyber risks, while the second highlights key investment opportunities in IT security. (Guardian; RobecoSAM)
Supply Chain
Golden Agri-Resources completes extensive supplier mapping for sustainable palm oil
Golden Agri-Resources (GAR), the world’s second largest palm oil plantation company, has completed the mapping and traceability of its supply chain through to each of its 489 mills in Indonesia. “We see a clear industry trend where buyers want more information on the impact of the palm oil they purchase,” said GAR’s head of global vegetable oil and oilseeds trading Paul Hickman. “If we can trace the oil back to its source we can engage more effectively with the suppliers and share what we have learned in our own operations to help them improve their environmental and social practices.” The company’s two-year mapping project was completed with the support of environmental organisation The Forest Trust, which helps GAR support local suppliers struggling to adapt to sustainable practices. The company will now turn its efforts to the next phase of its supply chain mapping, as it seeks to trace and support individual plantations. (edie)
Environment
AkzoNobel issues first carbon credits rewarding eco-conscious ship owners
Chemicals giant AkzoNobel has issued its first carbon credits under a pioneering scheme to reward ship owners for switching to its greener anti-fouling technology. The firm said today it has issued more than 126,000 carbon credits – worth more than $500,000 – to ship owners who converted their vessels from biocidal anti-fouling systems to AkzoNobel’s Intersleek hull coating, which lowers fuel consumption and, in turn, CO2 emissions from vessels. The credits are the first to be issued since the programme was launched by AkzoNobel in 2014 in collaboration with the Gold Standard Foundation, which provides a system for independently verifying voluntary carbon credits. On average, each of the 16 ships that received credits for switching to Intersleek saved more than 1,250 tons of fuel and 4,000 tons of carbon dioxide emissions a year. (BusinessGreen)
Community Investment
Lidl donating 5p plastic bag charge to Keep Britain Tidy
Supermarket chain Lidl has announced it will donate £500,000 from proceeds of England’s new single-use bag charge to charity Keep Britain Tidy (KBT), in a new initiative to engage young people in waste reduction. Under the plastic bag levy, introduced last year, retailers are required to donate the 5p charge to good causes. Lidl’s donation will allow KBT to develop a range of resources to support its national Eco-Schools programme. The Lidl carrier bags will also be rebranded for the first time since Lidl entered the UK in 1994 and will feature the KBT logo. “We take our environmental responsibility as a grocery retailer very seriously. Despite having always charged for our carrier bags, we acknowledge that there is a lot of work still to be done in achieving our long-term vision of helping to protect the country’s stunning natural heritage,” said Lidl UK’s CEO Ronny Gottschlich. (CIWM)
Corporate Reputation
Nurofen TV advert withdrawn by its makers
Personal goods maker Reckitt Benckiser has withdrawn a TV advert for its Nurofen Express painkiller due to misleading content. The advert, which launched in February last year and has not been aired since June, implied that the medicine directly targeted muscles in the head. The UK Advertising Standards Authority has reportedly halted an investigation which could have led to the ad being banned, after the company promised that it would not imply the product had a mechanism that makes it especially effective for headache pain. Details of the investigation emerged last year, after an Australian court ordered certain Nurofen products to be taken off the shelves. (BBC)
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