Report: World’s most successful companies have a larger proportion of women in senior roles
More successful companies tend to have a larger proportion of women in senior management roles, new research by McKinsey has found. Between 2011 and 2015, the most gender diverse quarter of companies were 21 percent more likely than the least diverse to have above average financial performance. Australian companies lead the way when it comes to women’s share of executive roles (21 percent). The share in the United States is 19 percent and in the United Kingdom is 15 percent. The report, Delivering through Diversity, also found correlation between ethnic diversity and financial performance, particularly in the UK. Globally, those companies with a low proportion of both female and ethnic minority executives were 29 percent more likely to financially underperform than their peers. (The Telegraph)
Tim Hortons franchise owners cut benefits and tell workers to “not vote Liberal”
A staff memo written by a pair of franchise owners for Tim Hortons, the world’s second-largest coffee chain, blames cuts to employee benefits on the Ontario government and its minimum wage hike. The notice, which has been widely shared on social media, also suggests employees “not vote Liberal” in the forthcoming election. Tim Hortons, which is owned along with Burger King by Restaurant Brands International (RBI), said individual franchise owners are responsible for handling all employment matters. It blamed the controversy on a “rogue group” of franchise owners who “do not reflect the values of our brand.” Activists on Friday held rallies at more than 40 Tim Hortons across Canada, calling on RBI to take action to guarantee that its employees are treated fairly. (CBC News)
Waste
MPs call on UK supermarket chains to eliminate plastic packaging by 2023
Two hundred cross-party MPs are calling on heads of the major UK supermarkets to eliminate plastic packaging from their products by 2023. The MPs, who are from seven political parties, have written to Tesco, Sainsbury’s, Morrisons, Asda, Waitrose, Aldi, Lidl, Budgens and Marks & Spencer urging them to scrap plastic packaging. They wrote after it was revealed that the major supermarkets in the UK create more than 800,000 tonnes of plastic packaging waste – well over half the household plastic waste – each year. Last week, Iceland pledged to stop using plastic packaging on its own brand products by 2023, while Waitrose announced it would no longer use black plastic for its meat, fish, fruit and vegetables by the end of this year, and that all Waitrose products would be free of black plastic by the end of 2019. (The Guardian)
Energy
Nike US sites to be run on renewable power following Texan wind power deal
Nike has become the latest high profile brand to step up its use of renewables, inking a major deal to source 86MW of wind power from US green energy specialist Avangrid Renewables. The sportswear giant said the deal meant it could now source renewable power for all its North American owned and operated sites, providing a further boost to its efforts to source 100% renewable power globally by 2025. The power purchase agreement will support the development of the Karankawa Wind Farm near Corpus Christi in Texas, scheduled for completion in mid-2019. Nike – which is signed up to the global RE100 initiative to source 100% renewable power – said the deal would see it source enough clean energy to power more than 400,000 average American households with carbon-free energy. (Business Green)
Sustainable Investment
Lloyd’s of London to divest from coal
Lloyd’s of London, the world’s oldest insurance market, has become the latest financial firm to announce that it plans to stop investing in coal companies. The firm has long been vocal about the need to battle climate change, with insurance one of the worst affected industries by hurricanes, wildfires and flooding in recent years. Lloyd’s decided last month to implement a coal exclusion policy as part of a responsible investment strategy for the central mutual fund that sits behind every insurance policy written by the Lloyd’s market. Other big UK and European insurance companies, including Aviva, Allianz, Axa, Legal & General, SCOR, Swiss Re and Zurich, have been shifting away from coal and other fossil fuels due to concerns about climate risks. A recent report from the Unfriend Coal Network found that approximately £15 billion has been divested by insurers in the last two years. (The Guardian)
Events
Sedex Conference 2018: Impact Through Leadership – Defining ‘Beyond Compliance’ in Responsible Sourcing
13th- 14th March 2018 | London, UK
The Sedex Conference 2018 brings together hundreds of business leaders from across the globe to share ideas and learn about the sustainable supply chain issues that matter to every responsible company. This year, it will address different definitions of ‘beyond compliance’, and what actions businesses can take to gain the most positive impact throughout their responsible sourcing journey.
Sedex is pleased to offer CCBriefing subscribers an exclusive 30% discount with ID Code Sedex18-CC30.
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