Halve food waste by 2030”: EU lawmakers urge member states
European Union countries were urged on Tuesday to halve food waste by 2030 but lawmakers stopped making the target binding. The European Parliament’s Environment Committee in Brussels voted in favour of new regulations calling on EU nations to aim to reduce food produced and never eaten to 30 per cent by 2025 and 50 per cent by 2030. Although some countries such as France and Italy have already tackled the matter, there is no common EU norm yet on the subject. “It is disappointing that MEPs did not back a binding target,” said Meadhbh Bolger, resource justice campaigner at Friends of the Earth Europe. An estimated 88 million tonnes of food is wasted in EU countries every year, costing about 143 billion euros ($153.61 billion), which activists say could feed the 55 million people living in food poverty in Europe more than nine times over. (Eco-Business)
Strategy
Kering signals a new path for luxury with the launch of its next generation sustainability strategy
Kering has announced the next phase of its sustainability strategy across its luxury brands. With the announcement of the new targets Kering has reaffirmed its dedication to continue to reduce its environmental impacts, advocate social welfare inside and outside the Group, and create new platforms. The scope of the strategy incorporates the entire supply chain, with a view to embedding sustainability at the very beginning of the design process. Guided by the UN Sustainable Development Goals (SDGs), Kering has also included quantifiable 2025 Targets in the strategy, under the three themes of CARE, COLLABORATE and CREATE. Kering has already made significant sustainability improvements across its business since committing to become a sustainable Group and is outperforming the luxury sector in reducing its footprint, with environmental impacts less than 45% of the global average business based on comparative turnover. François-Henri Pinault, Chairman and CEO of Kering said “more than ever, I am convinced that sustainability can redefine business value and drive future growth.” (4 Traders)
Sustainability Rankings
Asia firms slump in sustainability rankings
Just 12 Asian firms feature in a global ranking of the world’s 100 most sustainable corporations, which this year was topped by German electronics giant Siemens. While this was a repeat of last year’s tally for the region, most Asian companies have fallen in this year’s Global 100 Most Sustainable Corporations in the World index, an annual sustainability performance ranking for global listed companies compiled by Canadian investment research firm, Corporate Knights. Singapore property developer City Developments Limited (CDL) emerged as Asia’s most sustainable company, ranking 30th. Two other Singapore companies feature in the ranking, telecommunications rivals Singtel (52nd) and StarHub (69th). StarHub ranked 8th in 2016, and was Asia’s most sustainable firm. Singtel didn’t feature last year. Michael Yow, praised Singapore firms despite their slide in the rankings. “For a relatively small country, for Singapore to feature three companies [in the ranking] is admirable. Compare this with a large economy such as China for instance,” he told Eco-Business. (Eco-business)
Reporting
RepRisk Releases the Most Controversial Companies 2016 Report
RepRisk, which providesanalysis, monitoring, and quantification of environmental, social, and governance (ESG) risks, has released the seventh edition of its Most Controversial Companies (MCC 2016) Report. It focuses on the companies that were most exposed to ESG risks in 2016. I The data for the report is based on information screened, analyzed, and quantified by RepRisk’s proprietary research process from a wide range of publicly available stakeholder and media sources. “Eight of the companies ranked in the report faced governance-related issues involving corruption and fraud,” states Philipp Aeby, CEO of RepRisk. “Only two were linked to environmental and social controversies.” TheMCC 2016 Report was developed as part of RepRisk’s commitment to providing transparency into ESG risks and encouraging companies to systematically take into account such risks in their strategies and processes. (Business Wire)
President Donald Trump signed a series of executive orders Tuesday to advance the Keystone XL and Dakota Access Pipelines. The decision has angered environmental advocates who say that the projects would have severe negative impacts on the areas where they are built and would encourage more reliance on fossil fuels. The Standing Rock Sioux tribe and its allies have vigorously protested the Dakota Access project, saying it would damage cultural sites. Its Chairman Dave Archambault II told NBC News that the tribe would take immediate legal action to fight the executive order. In a statement, Greenpeace pledged that the same group of environmentalists, Native American activists and farmers that successfully stalled the projects in the past will continue to fight their advancement. Executive director Annie Leonard added: “Keystone, the Dakota Access Pipeline, and fossil fuel infrastructure projects like them will only make billionaires richer and make the rest of us suffer.” (NBC News)
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