GRI launches first global sustainability reporting standards
GRI has launched the world’s first global standards for sustainability reporting, giving companies a common language for disclosing non-financial information. The GRI Sustainability Reporting Standards are the latest evolution of GRI’s reporting disclosures, and will replace the G4 Guidelines, currently the world’s most widely used sustainability reporting disclosures. The GRI Standards feature an improved format and new modular structure, facilitating corporate reporting on topics such as greenhouse gas emissions, energy and water use and labour practices. The new format allows GRI to update individual topics based on market and sustainability needs, without requiring revisions to the entire set of GRI Standards. (Global Reporting)
Human Rights
FTSE 100 slow to report on fight against modern slavery
Marks and Spencer (M&S) and SABMiller were the only two FTSE 100 companies to issue rigorous statements on their actions to combat the risk of modern slavery in their supply chains, according to a study by the Business & Human Rights Resource Centre. Of the 27 groups in the FTSE 100 that have reported under the Modern Slavery Act, M&S and SABMiller rated highly and Babcock International scored the lowest. The study concludes that most companies provide too little information on the structure and complexity of their supply chains. It says that without this crucial understanding of their own operations, companies are unlikely to be able to take action on slavery. The study also found “patchy” levels of compliance, with only 14 of the 27 companies complying fully with the minimum requirements of the Act. (Financial Times*)
Corporate Reputation
Tesco boss: ‘Food price inflation could be lethal for struggling millions’
Tesco’s UK boss has warned that food price inflation could prove highly toxic for shoppers and lethal for those on a tight budget. He spoke out after the supermarket became embroiled in a public spat with one of its main suppliers, Unilever, over price increases. Inflation rose to its highest level in two years in September, according to official figures. Some analysts are warning that shop prices will start to rise next year as insurance contracts taken out against currency fluctuations come to an end and supermarkets struggle to offset rising import costs. (Guardian)
Policy & Research
Green groups sue Norwegian government to block Arctic oil
Green groups are suing the Norwegian government to block oil drilling in the Arctic, on climate change grounds. Greenpeace and Young Friends of the Earth argue that licenses to drill in the northern Barents Sea violate the Norwegian constitution, the Paris climate deal and the rights of young people. The case hinges on article 112 of the Norwegian constitution, which was recently amended to guarantee citizens the right to a healthy environment. Campaigners were flanked by US scientist James Hansen and philosopher and author Jostein Gaarder as they announced the case. Hansen is the lead author on a paper which argues continued high greenhouse gas emissions place a burden on the younger generation. He is also the star witness for a youth climate lawsuit in Oregon, USA. (Climate Home)
Report: Farming needs to harvest chance to cut emissions
The global farming sector has a big role to play in the effort to curb greenhouse gas emissions and adapting to future climate change, the UN says. A report by the Food and Agriculture Organization (FAO) says there is an urgent need to support smallholders in adapting to climate change. They will require greater access to technologies, markets, information and credit for investment to adjust their production systems and practices to climate change. Unless action is taken now to make agriculture more sustainable, productive and resilient, climate change impacts will seriously compromise food production in countries and regions that are already highly food-insecure. (BBC, FAO)
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