Row over New Zealand fish sustainability ‘cover-up’
A leaked New Zealand government document casts serious doubts on the sustainability of fish that are widely used in McDonald’s restaurants. The document shows that the government was aware of made-up data and illegal practices such as the dumping of vast quantities of unwanted fish. A study published this week concluded that the amount of fish taken from the seas was 2.7 times greater than the numbers reported. The leaked memo paints a picture of a fishing industry that routinely discards full nets of fish back into the sea, even when government cameras are present. In the document, inspectors speculate that revealing the true scale of the illegal practices could cause extensive damage to the economy. “A worst case scenario could see a large international company e.g. McDonald’s, refusing to buy our non-green image fish,” the report says. Campaigners are now calling on McDonald’s to drop New Zealand fish from menus. (BBC)
Chemical footprinting arrives at Levi’s, Seagate, J&J
The inaugural Chemical Footprint Projectreport released this week highlights the financial risks that companies face due to chemicals of high concern in their products and supply chains. The initiative, backed by investors with a total $1.1 trillion under management, aims to help companies measure, analyse and act to mitigate their reliance on potentially hazardous chemicals. The 24 participating companies include Levi Strauss, Seagate Technology, Johnson & Johnson, GOJO Industries, BectonDickinson, Beautycounter and California Baby. The project also gives investors an invaluable new tool. Matthew W. Patsky, CEO and portfolio manager at Trillium Asset Management called for companies to “provide consistent, transparent data” on hazardous chemicals. The report concludes that reducing chemical risk is challenging and requires leadership, training and incentives for employees and suppliers, and investment in data management systems. (Greenbiz)
Policy & Research
New EU-Indonesia timber agreement will improve forest protection
Indonesia’s President Joko Widodo and European Commission President Jean-Claude Juncker have agreed to begin implementing the Voluntary Partnership Agreement (VPA) on timber products between Indonesia and the European Union. Indonesia has now met all requirements of the deal, signed in 2013, ensuring that its timber legality assurance system, the SVLK, meets EU standards. The VPA’s implementation is the culmination of a long process involving suppliers, civil society, NGOs and policymakers. Asia Pulp and Paper (APP)’s managing director for sustainability, Aida Greenbury, called the deal a “regulatory breakthrough”. “We first piloted the SVLK in our plantations and pulp mills in 2009 with a view to finding ways to working with the government to improve the system… As Indonesia’s largest player in pulp and paper, we recognised from the beginning that what was good for Indonesia was good for our own business,” she wrote. (Eco-Business)
UK green economy worth £46.2bn, official stats reveal
There are around 96,500 low-carbon and renewable energy businesses in the UK, generating a total annual turnover of £46.2 billion for the economy, according to data released yesterday by the Office for National Statistics (ONS). In addition, green economy-related organisations employed 238,500 full-time equivalent (FTE) workers, accounting for 1.3 per cent of all FTE employees in the UK’s non-financial sectors. Most of the businesses involved in the activity operated in the construction industry, the statistics reveal, detailing how green building firms generated £12.4 billion of turnover and employed 96,500 FTE employees. The statistics also confirmed Scotland’s position as a green business hub, revealing that 5.2 per cent of Scottish non-financial businesses operated in the green economy. (Business Green)
Responsible Investment
Deutsche Bank and Société Générale push for profit from cutting energy use
Institutions including Deutsche Bank and Société Générale are finding increasing returns from energy efficiency profits. Projects to save energy are currently reaping at least $45 billion a year, blunting demand for fossil fuels and the global-warming pollution they create, according to data compiled by Bloomberg. “Energy efficiency has had difficulty getting finance from banks because they’re used to financing something they can see,” said Jessica Stromback, chairman of Joule Assets Europe AB. “Unlike other products where you’re buying something tangible, you’re buying the savings.” Energy efficiency is a niche of the clean-energy business, which drew $310 billion of investment in 2015.But investment in efficiency is growing, up 2.3 percent in 2014 according to Bloomberg, with the industry increasingly confident that it can make efficiency savings bankable. (Bloomberg)
Image source: Nile red at daylight and UV-light in different solvents by Kuebi / CC BY-SA 3.0
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