Michelin Group announce zero deforestation commitment
The leading international tyre manufacturer, Michelin Group, has announced a zero deforestation natural rubber procurement policy. The policy is based on the High Carbon Stock Approach and has been welcomed by Greenpeace. “The announcement (…) sends a strong signal to the entire rubber sector: it will soon be more difficult to sell natural rubber that contributes to deforestation,” said Cécile Leuba, Forest campaigner for Greenpeace France. “Michelin must now ensure its implementation and quickly stop sourcing from rubber growers who refuse to commit to producing zero deforestation rubber.” She highlighted Michelin’s sourcing from palm oil and rubber producer Socfin, which has refused to implement a zero deforestation commitment following investigations by Greenpeace France into its impacts on primary forests and local communities . (Blue & Green Tomorrow)
Apple quietly forms new energy company to sell excess renewable electricity
In a bid to stabilise its ongoing commitment to sourcing renewable energy, tech giant Apple has quietly formed its own energy subsidiary which could see the company sell excess electricity to end-users across the US. With Apple currently generating energy from its Cupertino headquarters, the firm filed for the new Apple Energy subsidiary early last week. Registered in Delaware, the new branch would allow Apple to sell-off excess electricity as part of a “trade system” to purchase “net-metered” energy during days where onsite solar generation is low. With 93 percent of Apple’s global facilities running on renewable energy, the company can soon begin to sell electricity generated from solar panels and farms, hydrogen fuel cells and biogas facilities located across the company’s biggest facilities. (edie)
Sustainable Development
UN criticises UK for spending aid money on for-profit private schools
The UK’s role in funding for-profit private schools in the developing world has come under attack by the UN, which fears the spike in private, “low-fee” schools in poor countries could undermine the sustainable development goal of inclusive and equitable education for all by 2030. The UK government is being drawn into the dispute after investing £3.5 million in helping the US-based firm Bridge International Academies set up 250 low-cost schools in Lagos, Nigeria. “The scary tendency at the moment is the investors who are saying, we are going to make so much money from education,” said Delphine Dorsi, a human rights expert and executive coordinator of the Right to Education Project. (Guardian)
Corporate Reputation
Campaigners call on Kingfisher to increase B&Q wages
Kingfisher, the owner of B&Q, will face further pressure over pay and conditions for staff at its annual shareholder meeting when campaigners will ask the DIY retailer to reverse cuts made this year. Siobhain McDonagh, Labour MP for Mitcham and Morden, will ask the board to pay the independently verified living wage, in the latest move of a campaign backed by ShareAction and Citizens UK. Retailers including Marks & Spencer and Tesco are also expected to be targeted in a continuation of last year’s action, in which campaigners went to a number of companies’ annual shareholder meetings to demand better pay for staff. Citizens UK pointed out taxpayers were footing the multibillion-pound bill for low basic salaries through working tax credits and other “in-work benefits”. (Guardian)
Responsible Investment
Prudential raises its bet on green energy
UK insurance group Prudential has raised its bet on the future of green energy with a planned €150 million investment in Italian solar farms. The move is a departure for the UK’s largest insurer by market value, which has a string of renewable energy investments in its home country, including the planned Swansea Bay tidal power scheme. The investment arm of Prudential in the UK has contributed €150 million to a new private equity fund set up by NextEnergy Capital, a specialist solar investor and asset manager. The fund will aim to buy Italian solar power plants. Italy has about 19 gigawatts of installed solar power generating capacity, the largest amount in the EU after Germany, and enough to meet almost 8 percent of the country’s annual electricity demand. (Financial Times*)
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