Climate change: UK backs world-leading climate target
The UK government has set a world-leading climate change target, which will cut carbon emissions by 57 percent by 2032. The announcement of the Fifth Carbon Budget will help reassure investors needed to overhaul the UK’s ageing energy system. But the government’s advisory Committee on Climate Change (CCC) has warned the targets will be missed unless policies are improved. There have been doubts about government commitment on climate change after huge cuts in renewables subsidies followed by the vote to leave the EU, which influences much of the UK’s energy. The CCC calculates that the UK’s emissions cuts are in line so far with the goal of the Climate Change Act of cutting CO2 80% by 2050. But it says a new approach is needed in housing as well as agriculture and transport – two sectors where emissions are already growing. (BBC)
HP vows to go ‘zero deforestation’ by 2020
Computing giant HP has announced a goal in its latest sustainability report to secure zero forestation status for its paper based products by 2020. It also said it would also give preference for virgin fibre certified by the Forest Stewardship Council (FSC). The company is on its way to achieve the 2020 goal, with half the fibre in its brand paper products FSC-certified in 2015. The firm will now work with World Wildlife Fund‘s Global Forest & Trade Network-North America initiative to reduce fibre sourcing risks, source more environmentally responsible paper and packaging products, and better engage suppliers. HP has also committed to using 100 per cent renewable electricity in its global operations, with a short-term goal of reaching a 40 per cent share for renewables by 2020. (Business Green)
Sustainable Development
UN hails cooperatives as drivers of sustainable future
The United Nations estimates that one person in every six worldwide is either a member or a client of a cooperative. Commenting on the International Day of Cooperatives, senior United Nations officials urged governments to create an enabling environment for such groups to thrive and grow. “We believe cooperatives can make significant contributions to the SDGs on employment, poverty, hunger, and equality,” UN Secretary-General Ban Ki-moon said. Guy Ryder, Director-General of the International Labour Organisation (ILO) highlighted cooperatives’ contribution to achieve Sustainable Development Goal 8 (decent work and economic growth). “For these and other reasons, the ILO recognises the role of cooperatives as drivers of sustainable development, and remains a strong supporter of the cooperative enterprise model,” he said. (Eco-Business)
Tax
Tax reform expert calls for register of owners of corporate trusts
Police and tax inspectors must be able to discover who sits behind opaque corporate trusts if international efforts to fight tax dodging and corruption are to prove effective, one of the world’s top tax reformers has warned. Pascal Saint-Amans, head of tax at the Organisation for Economic Cooperation and Development (OECD), said existing efforts to improve the sharing of information between countries needed to go further. A new Brussels directive on company reporting effectively exempts many of the more controversial trust, due to lobbying from the UK. Last week the UK became the first major economy to require all companies registered in the country to state their true ownership in legal filings. Many other large countries are developing similar registers, but have stopped short of making that information public. (Guardian)
Corporate Reputation
Spotify accuses Apple of stymying competition by halting app
Spotify has accused Apple of blocking an update to the company’s music streaming app in order to push customers towards its own competing service. Apple rejected the update after Spotify started encouraging customers to subscribe online, seeking to avoid paying Apple the 30 percent cut on monthly subscriptions that are billed through Apple’s App Store. That prompted Apple to threaten to remove the app from its store. “The problem is that there is not much that Spotify can do because it does not own the platform,” said Richard Windsor, an analyst at independent researcher Radio Free Mobile. “Complaints to regulators cost a fortune and take years, neither of which Spotify can afford.” (Bloomberg)
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