NYC plans cybersecurity industry push that could add 10,000 jobs
The NYC Economic Development Corporation has announced plans for a $30 million investment of city funds, coupled with up to $70 million in private investment, that it says could help create up to 10,000 good-paying jobs in the city. “Cybersecurity has never been more important to the pillars of New York’s economy–sectors like finance, healthcare, media, and technology–and it will only grow more crucial,” said Manhattan Borough president Gale A. Brewer in a statement. “You only have to open a newspaper to see how vast the need for cybersecurity is today. Investing in this industry is timely, it plays to New York’s strengths, and it will deliver a real return.” (Fast Company)
Climate Change
EU environment ministers to consider stronger climate target, in light of 1.5C warming impacts
EU environment ministers will refer to limiting global warming to 1.5C when they meet on 9 October, a day after the release of the much-awaited, landmark IPCC report, according to draft conclusions seen by EURACTIV.com. The draft conclusions of the environment council state that the EU is “deeply concerned by the new evidence on the negative impacts of climate change that are unequivocally confirmed by the latest scientific findings reported by the Intergovernmental Panel on Climate Change (IPCC) in its Special Report on the impacts of global warming of 1.5C above pre-industrial levels and related global GHG emission pathways. (Climate Home News)
Energy
A third of UK businesses have invested in onsite battery storage, survey reveals
One in three UK-based businesses have installed onsite battery storage facilities at one or more of their sites, a new survey of 1,000 utility managers has revealed. The survey, conducted by electricity supplier Haven Power, also found that a further third (37%) of energy managers would be keen to explore using battery storage technology to bolster their energy security in the coming months. “It’s positive to see that businesses are very open to implementing sustainable changes, especially if they’re not already doing so,” Haven Power’s chief operating officer Paul Sheffield said. “It’s clear that even small switches to renewable energy could help the nation achieve the Government’s emissions targets, therefore it’s imperative that businesses of all sizes work towards this shared goal.” (Edie)
Human Rights
Unilever tops list of food and drink firms tackling forced labour
Unilever topped a list on Tuesday ranking how well food and drink companies tackle the risk of forced labour in their supply chains, ahead of Kellogg Company and Coca-Cola. Most of the 38 companies assessed in a study by KnowTheChain, an online resource for business, had improved their practices since 2016. But the average score was just 30 out of 100, the report said, suggesting all companies need to step up action to ensure ethical production. “Forced labour remains a major problem in the production of popular food and beverage products,” Kilian Moote, project director for KnowTheChain said in a statement. (Thomson Reuters Foundation)
Sustainable Investment
CapitaLand gets $300m sustainability-linked loan from DBS
CapitaLand has secured a five-year, $300 million sustainability-linked loan, said to be the first and largest in Asia’s real estate sector, from DBS Bank. The multi-currency loan is linked to the developer’s listing on the Dow Jones Sustainability World Index (DJSI World), which tracks established firms in areas such as environmental, social and governance (ESG) efforts. Unlike green loans, where the funds are used for certain types of projects, CapitaLand is able to use the loan for general corporate purposes. Meanwhile, interest rates on the loan “will be further reduced on a tiered basis, contingent on CapitaLand’s ongoing performance” against a set of ESG indiators based on RobecoSAM’s Corporate Sustainability Assessment and a listing on the DJSI World. (Straits Times)
COMMENTS