Top Stories

September 20, 2018


WEF: More than half of workers will need reskilling by 2022

More than half (54%) of the workforce will need reskilling in the next five years as emerging technologies such as artificial intelligence (AI) take over a significant proportion of current jobs. According to the World Economic Forum (WEF), organisations need to act now to re- or upskill workers in the industries that are particularly at risk of job displacement – including travel and tourism, mining and metals and financial services. WEF’s Future of Jobs 2018 report said that employers felt more positive about the effect job automation would have than they did in a similar study in 2016, because they now had greater understanding of the opportunities AI offers. Co-founder of LinkedIn Allen Blue said: “Knowing which occupations are growing and declining globally is a starting place for policymakers, educators, and employers to start conversations on how to transition the global workforce to the jobs and skills of tomorrow.” (Personnel Today)


Businesses must avoid ‘knee-jerk’ plastic phase-outs

UK Committee on Climate Change chairman Lord Deben has urged companies to avoid making “knee-jerk” decisions on plastics packaging, warning that “reactionary” choices to consumer demands could lead to unintended environmental consequences. Deben said that there was “no silver bullet” to replacing single-use plastics which would appease both consumers and policymakers in the short term while generating long-term sustainability benefits. The Food Service Packaging Association’s director Martin Kersch echoed Deben’s sentiments. Kersch cited the example of Morrison’s, which was recently criticised for replacing single-use plastic bags in fruit and vegetable aisles with paper alternatives, after a report by the Environment Agency concluded that paper bags would need to be re-used at least three times to avoid having a higher impact on climate change than plastic equivalents. (Edie)


Global carbon prices too low to combat climate change – OECD

Carbon prices in major advanced economies are too low to cut greenhouse gas emissions and stave off the worst effects of climate change, the Organization for Economic Co-operation and Development (OECD) said in a report released on Tuesday. The OECD examined carbon pricing between 2012, 2015 and 2018 in 42 OECD and G20 economies, which represent around 80 percent of global carbon emissions. It found the average pricing level across the countries in 2018 was 76.5 percent lower than the benchmark 30 euros ($35) a tonne it said is needed. The pricing gap had narrowed, from 79.5 percent in 2015, but “carbon prices need to increase considerably more quickly than they have done in recent years in order to ensure a cost-effective low-carbon transition,” the report said. (CNBC)

Diversity & Inclusion

LGBT Great launches #hereiam campaign to investment industry

LGBT Great, the organisation focused on improving equality and inclusion in the investment industry, has launched a campaign to encourage and support LGBT+ individuals to become more visible. LGBT Great is looking to identify over 1,000 LGBT+ individuals within the industry over the next five years to ally with and promote as role models. Schroders, Legal & General Investment Management, Lane Clarke & Peacock, AGG Wealth Management and The Investment Association all feature in the #hereiam video campaign. LGBT Great founder Matt Cameron said: “Visible role models contribute towards having a positive employer brand and this is crucial for the attraction of diverse talent. They also provide an indication of how inclusive an organisational culture is and act as beacons of inspiration to aspiring talent.” (Investment Week)

SDGs/ Sustainable Finance

World Bank renews UN Sustainable Development Goals bonds partnership

The World Bank, BNP Paribas and Swiss private bank SYZ have renewed their partnership for an equity bond offering that will link investment returns to the performance of companies advancing priorities set out in the United Nations’ Sustainable Development Goals (SDGs). All investments will be used to finance World Bank development projects. Sole distributor, Banque SYZ, said it saw “great interest” from investors after it first offered SDG-focused investment opportunities to private clients last year. The return on investment of the bond is directly linked to the stock performance of companies included in the Solactive Sustainable Development Goals World MV Index. The Index includes 30 firms which dedicate at least one-fifth of their activities to sustainable projects, or are recognized leaders in their industries on social or environmentally sustainable issues. (GreenBiz)


Image source:sweltering by spinster cardigan on Flickr. CC BY 2.0.