200 Global Investors urge G7 to stand by Paris Agreement and drive its swift implementation
Long-term institutional investors representing more than USD 15 Trillion in assets have written to G7 heads of state urging governments to stand by their commitments to the Paris Agreement at their upcoming Summit in Taormina, Italy on May 26-27. Mindy Lubber, CEO and President of the sustainability non-profit organization Ceres said: ““Global investors are eager to open their wallets to a low-carbon future, but it won’t happen without clear, stable policy signals from countries worldwide – in particular, the US government whose waffling on the Paris Climate Agreement is hugely troubling.” CEO of CDP Paul Simpson also added: ““The G7 must move swiftly to put in place the frameworks required to improve the availability, reliability and comparability of climate-related information, and to ensure carbon pricing signals which will drive the incorporation of climate risks and opportunities into financial assessments.” The letter remains open for endorsement by more investors until 30 June 2017. (Investors on Climate Change)
South Koreans want new leader to create jobs minus corruption
Creating jobs, ending corruption and boosting stubbornly low birth-rates should be high on a to-do list for South Korea’s next president. This comes after months-long protests that led to the ousting of President Park Geun-hye in March and the arrest of the de-facto leader at Samsung, South Korea’s largest business group. Both leading presidential contenders, Moon Jae-in and Ahn Cheol-soo, have tried to tap into the discontent over economic injustice, high youth unemployment and increased inequality. Public demand for change in South Korea’s economic system remains high as growth and wealth continue to be concentrated in the hands of top few family-run business giants known as chaebol. Moon and Ahn have both promised chaebol reforms such as unfair business leadership successions and to respond sternly to the white collar crimes committed by chaebol’s founding families. (Bloomberg)
Lawsuit
Fox reporter says she was fired after emailing investigator
A Fox News radio reporter claims in a lawsuit that she was fired within 24 hours of emailing the company’s independent investigator to complain about gender discrimination by two male superiors. Jessica Golloher’s suit adds to a growing list of sexual harassment and discrimination complaints from former employees at Fox News. Roger Ailes, former president of Fox News Channel, Bill O’Reilly, the channel’s highest-rated anchor, and former co-president Bill Shine, have all left the network since the scandal broke last year. Jessica Golloher’s claims come after Fox sent all employees an email about the network’s desire to foster a safe workplace. Within twenty four hours of Golloher responding to the email saying she was having issues, Golloher was informed of her termination. (Bloomberg)
Energy
South Carolina’s capital inches closer to 100 percent renewables
Steve Benjamin, the mayor of Columbia, South Carolina, recently became a co-chair for the Sierra Club’s Mayors for 100 Percent Clean Energy Campaign. South Carolina’s legislature has passed some climate-friendly bills in recent years, but it has not always moved quickly on the adoption of a clean-energy agenda. Incentives for investing in renewables in South Carolina are scarcer than in other U.S. states. The city of Columbia is now joining a group of cities as diverse as Atlanta, San Diego and Grand Rapids, Michigan, that say they are keen on doing their part to stall climate change while modernizing their economies. Other incremental changes include meetings on 100 percent renewables, converting almost all of the city’s traffic lights to LEDs, and fueling 60 percent of all city buses with natural gas instead of diesel. (Triple Pundit)
H&M pledges to double energy productivity by 2030
H&M has pledged to double the economic output from every unit of energy consumed by 2040. The clothing retail giant has this week become the first international fashion retailer to sign up to The Climate Group’s EP100 campaign, pledging to double its energy productivity within the next 13 years. By 2030, H&M plans to build future stores that use 40% less energy per square metre, and by 2025, the firm aims to have all of its supplier partners enrolled in an energy efficiency programme. Signing up to the EP100 scheme on the same day as H&M was US-based LED lighting manufacturer Cree, which, through an energy efficiency project, has achieved a fall of 453 tonnes of GHG emissions over the last year. (Edie)
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