Report: US firms driving business value through sustainability
US firms are using environmental sustainability strategies to boost revenues, cut operating costs, and achieve better borrowing rates, according to a new report, From Sustainability to Business Value. The findings released by ING are based on the results of a survey, carried out by Longitude, of 210 finance executives from US-based companies. The survey found that 81% now have formalised sustainability strategies in place. These “mature” firms are more likely to cite factors such as revenue growth and access to credit as drivers for sustainability. Gerald Walker, CEO of ING Americas, said. “Our research shows that it is no longer just about cutting costs or creating positive brand awareness – sustainability strategies are being deployed as true revenue drivers.” (Business Green)
Supply Chain
Unilever publishes full lists of palm oil suppliers
Consumer goods giant Unilever has laid bare its entire palm oil supply chain, publishing lists of all the suppliers and mills it sources from, both directly and indirectly. Unilever says it is the first consumer goods company to publish such details, having disclosed the location of more than 1,400 mills and over 300 direct suppliers of the oil used in products from snacks and soaps to cosmetics and biofuels. The $62 billion palm oil industry has been plagued by concerns about deforestation and human rights abuses in countries such as Indonesia. Marc Engel, Unilever’s chief supply chain officer, said the company hoped sharing the information would be the start of a new industry-wide movement towards supply chain transparency. (Thomas Reuters Foundation)
Policy
OECD: Global taxes are currently insufficient to combat climate change
New data from the Organisation of Economic and Co-operative Development (OECD) says that global taxes are currently insufficient to combat climate change. The OECD’s latest report, Taxing Energy Use 2018, argues that taxation around the world is not being properly used to reduce carbon emissions. Analysts looked at patterns of tax on energy use across different sectors in 42 countries between 2012 and 2015. They found that while some modest efforts had been made at taxing the use of greenhouse gas emissions, it was far from enough to encourage alternatives and tackle climate change. On average, a staggering 81 percent of emissions outside of road transport remained untaxed. In particular, coal use is often left completely untaxed. (Climate Action Programme)
Corporate Reputation
Facebook plans to use US mail to verify identities of election ad buyers
Facebook will start using postcards sent by US mail to verify the identities and location of people who want to purchase US election-related advertising on its site, a senior company executive said on Saturday. This is Facebook’s latest effort to respond to criticism from lawmakers, security experts and election integrity watchdog groups that it and other social media companies failed to detect and later responded slowly to Russia’s use of their platforms to spread divisive political content, including misinformation, during the 2016 US presidential election. The process of using postcards containing a specific code will be required for advertising that mentions a specific candidate running for a federal office but will not apply to issue-based political ads. (Reuters)
Waste
Church of England launches “Lent Plastic Challenge”
The Church of England has issued a list of climate-conscious commandments to encourage worshippers to reduce their plastic over Lent in the form of the “Lent Plastic Challenge”. The campaign highlights the over 8.3 billion tonnes of plastic that have been produced since the 1950s and follows heightened public awareness over the impact of plastic waste on the planet and pledges by companies such as Ryanair & Iceland to become “plastic free”. Ruth Knight, environmental policy officer for the Church of England, said the challenge formed part of the overarching Christian belief to care for the planet: “The Lent challenge is about raising our awareness of how much we rely on single-use plastics and challenging ourselves to see where we can reduce that use.” (Independent)
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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