Daily Media Briefing

Daily Media Briefing

 

Posted in: Climate Change, Daily Media Briefing, Governance, Policy & Research, Strategy

Top Stories

April 16, 2018

Governance

Carbon dioxide from ships at sea to be regulated for first time

Carbon dioxide from ships at sea will be regulated for the first time following a historic agreement reached after two weeks of detailed talks in London. Shipping companies will halve their greenhouse gas emissions by 2050 under the plan, brokered by the International Maritime Organisation and binding across its 170-member states. In future, ships will have to not only be more energy-efficient, but also make use of cleaner energy, in the form of batteries supplying electricity, solar and wind electricity generation. Environmental campaigners have said that the plan is not enough given the urgency of tackling climate change, though they welcome the deal, which has taken decades of work. Whilst shipping accounts for only about 2 percent of global carbon emissions, it has been a cause of concern due to both the increased need for transport under the globalising economy and because many ships utilise carbon-rich fuels such as heavy diesel, which would be banned in many countries for onshore transport. (Guardian)

Policy

Corporate America poised to unveil record buybacks

US companies are expected to shower investors with a record amount of share buybacks in the current earnings season, as corporate executives take advantage of major tax cuts and a faltering stock market to increase their repurchase programmes. S&P 500 companies have already announced about $167 billion of new buyback authorisations this year, and analysts at JPMorgan predict that trend will accelerate as boardrooms digest the full scale of the tax cuts passed in December 2017. Overall, US companies will buy back about $800 billion of their stock in 2018, the bank forecasts, up from $525 billion in 2017, and boost dividend payouts by about 10 percent to a record $500 billion. President Donald Trump and the Republican-controlled Congress have lauded a potential upswing in investment by US companies following the tax cuts, but strategists expect a heftier increase in buybacks and dividends. (Financial Times*)

Strategy

Danone North America and Canada become B Corp certified

Danone has announced that Danone North America – operating in the US – and Danone Canada have achieved B CorpTM Certification, two years ahead of target. Counting these two new additions, a total of eight Danone entities have now earned B CorpTM Certification, including dairy subsidiaries in France, in Spain and in the UK, organic baby food brand Happy Family in the US, Aguars Danone de Argentina, and AQUA in Indonesia. As a result, approximately 30 percent of Danone’s global business is now covered by the certification, marking significant progress towards Danone’s ambition to become one of the first certified multinationals. Danone Chairman and CEO Emmanuel Faber commented: “People rightly expect large organizations like Danone to use their scale for positive impact. We do not take this responsibility lightly. B CorpTM Certification is one measure that provides consumers, investors and other stakeholders with a robust framework to assess whether the company they support is having a positive impact on society and the planet.” (Global Newswire)

Climate Change

Co-op hits emissions target three years early

The Co-op has reduced its greenhouse gas emission by 54% against a 2006 baseline, according to its latest CR report. This means that the retailer has hit its emissions reduction target three years early with chief executive Steve Murrells saying that an ambitious new goal will be set to address the remaining sources of GHG emissions. “In future we want to be more ambitious about setting challenging targets,” he said. “I believe that the UN’s Sustainable Development Goals (SDGs) provide a helpful framework for co-operation amongst businesses, NGOs, governments and individuals. “Through the SDGs we’re exploring ways in which we can set better and longer-term ambitions and then measure the difference we make to communities.” The Co-op has also pledged to make all its own-branded packaging recyclable, with an interim goal of 80% recyclability set for 2020, and has backed the introduction of a nationwide bottle deposit return scheme to help reduce plastic pollution. (edie)

Policy

Shell asks Indonesia to reconsider new fuel pricing policy

Royal Dutch Shell has asked Indonesia to rethink a policy allowing the government to control domestic fuel pricing, a company official said, an area “fundamental” to its fuel distribution business. Non-subsidised fuel prices are currently set by retailers, but under a planned regulation the Indonesian government would have the right to decide whether retailers can change fuel prices. According to Shell Indonesia’s retail director, Wahyu Indrawanto, Shell understands “government concerns related to the impacts of increasing consumer fuel prices on inflation,” and has observed several alternative policies to control inflation, across the many countries it operates in, which they have passed along to the Indonesian government for further consideration. Indonesian finance minister Sri Mulyani Indrawanto has stated that maintaining commodity supplies and prices are important elements of maintaining the low and stable inflation necessary to keep Indonesian economic growth above 5 percent. (Reuters)

Events

AVPN Conference

Date: 4-5th June 2018
Location: Suntec Singapore International Convention and Exhibition Centre

Now in its sixth year, the AVPN Conference will bring together a diverse group of funders and resource providers from around the globe to take part in the largest gathering of social investors in Asia from grantmakers and impact investors to corporates and governments.This year’s theme, “Maximising Impact”, reflects the importance of driving strategic, collaborative, and outcome-oriented approaches to social investment. Through this lens, the conference will highlight opportunities and challenges for social investors and provide a platform for leaders across sectors to connect, learn and be thought leaders.

To register, please follow these steps:

  1. Visit us at https://2018.avpn.asia/registration/
  2. Select “Public” as your ticket type, and fill in the registration form
  3. When asked, “Where did you hear from us?”, please key in Corporate Citizenship.

 

*Subscription required

Image Source: The fueling probe is returned to USS Iwo Jima after refueling USS Roosevelt by Official U.S. Navy Page on Flickr. CC BY 2.0.

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