CEOs no longer say ‘people are our greatest asset,’ according to new report
In a survey of 800 chief executives and other top leaders at global firms by human resource consultancy Korn Ferry Institute, two-thirds said they believe technology will create greater value in the future than their workforce will. When asked to rank their businesses’ most valuable asset, leaders said technology matters above all, with employees not making the top five. In total, 44% held the belief that automation, artificial intelligence and robotics will make people “largely irrelevant” in the years to come. Nearly two-thirds of respondents said they “see people as a bottom-line cost, not a top-line value generator,” according to the report, while 40% said shareholders have pressured them to direct investment toward physical assets like technology. (The Wall Street Journal*)
Waste
US food giants pledge to halve food waste by 2030
Major food firms including General Mills, Kellogg and PepsiCo are among 15 US-based companies to have joined the US’s first ever national food waste reduction global pledge, the US Food Loss and Waste 2030 Champions. Each company has pledged to halve the amount of food waste produced within their operations by 2030. Other companies to sign up to the scheme include ConAgra, Unilever, Walmart and Yum! Brands. The Environmental Protection Agency will direct each of the 15 Champions to use the Food Loss and Waste (FLW) Protocol, a collaborative measure launched in 2013 to encourage consistency and transparency in quantifying and reporting food waste. (edie)
Human Rights
Samsung and Panasonic accused over supply chain labour abuses in Malaysia
Two of the world’s leading electronic brands, Samsung and Panasonic, are facing allegations of abuse and exploitation of workers in their Malaysian supply chains. According to a Guardian investigation, Nepalese migrant workers in Malaysia claimed they were deceived about pay, had their passports confiscated and were charged up to £1,000 in recruitment fees to secure their jobs. They also described being forced to work for up to 14 hours on their feet without adequate rest and restricted toilet breaks. Both Samsung and Panasonic have said they are opening investigations into the conduct of their suppliers following the claims. (Guardian)
Sustainable Development
World’s poorest countries to aim for 100% green energy
Representatives from 47 of the world’s most disadvantaged nations have pledged to generate all their future energy needs from renewables. The announcement was made on the last day of the Marrakech climate conference by members of the Climate Vulnerable Forum. Bangladesh, Ethiopia, and Haiti, among others, promised to fully green their economies between 2030 and 2050. Termed the Marrakech Vision, the plan promises that the 47 members will: “strive to meet 100% domestic renewable energy production as rapidly as possible, while working to end energy poverty and protect water and food security”. The nations also pledged to update their national plans on cutting carbon before 2020 and to develop long-term plans as soon as possible. (BBC)
Responsible Investment
Survey reveals surge in sustainable investing
A new survey published by the Morgan Stanley Institute for Sustainable Investing and Bloomberg highlights a significant rise in sustainable investing activity. Out of the 402 individuals at US asset management firms surveyed, 89 percent were familiar with sustainable investing and 65 percent currently practice it. Of respondents already engaged in sustainable investing, 54 percent plan new ESG strategies in the next 12 months. Even among respondents at firms that do not practice sustainable investing, more than half believe adoption will increase in the next five years. Client demand was highlighted as the primary driver for sustainable investment, alongside potential performance benefits, including managing ESG risk and identifying sustainability-driven opportunities. As a result, managers and analysts are seeking more transparent and actionable information to enable better investment decision-making. (Justmeans)
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