PwC commits to source 100 percent renewable electricity for global operations
Professional services network PwC has joined RE100 with a target to source 100 percent renewable electricity for its global operations by 2050 and an interim goal of 70 percent by 2022. RE100 is a global leadership initiative led by The Climate Group in partnership with CDP. It brings together leading companies committed to source 100 percent renewable electricity, growing demand for – and delivery of – clean power. The interim target will be met by PwC first sourcing renewables for 21 of its largest firms, extending the commitment to cover the rest of its operations by 2050. Last year, 60 percent of electricity used by PwC’s largest operations – representing 88 percent of its revenue – came from renewable sources. (Climate Group)
Climate Change
EU lawmakers to back 35 percent CO2 cut for trucks by 2030
EU lawmakers are expected to back a 35 percent cut in carbon dioxide emissions from new trucks by 2030, EU sources said ahead of a vote today (October 18th) over new rules that seek to fight global warming without harming industry. The target will be the first CO2 standard for trucks in the EU, which currently has no limits on what accounts for almost one quarter of the bloc’s transport-related emissions. The vote in the European Parliament’s Environment Committee would set tougher climate targets than those proposed by the EU executive in May. The sources said the 35 percent target is backed by a majority of lawmakers in the committee, which tends to push for more ambitious climate legislation than the assembly as a whole. (Reuters)
Waste
UK restaurants and cafes bin 320 million fresh meals a year, data shows
Almost 900,000 perfectly edible, freshly prepared meals end up in the bin in the UK every day, new figures reveal, because they haven’t been sold in time by restaurants and cafes. According to official figures from Wrap, £15 billion worth of edible food is binned by UK households every year, with incorrect storage cited as a major cause of waste. This means that more than 320 million meals are thrown away by British food establishments every year – enough meals for everyone in the UK five times over, according to food waste app Too Good To Go. The app – which allows users to “rescue” surplus meals at a discounted price – is calling on more food businesses and consumers to join forces to help cut waste. (Guardian)
Corporate Governance
Bribery probe leaves one of Southeast Asia’s biggest projects in limbo
Indonesia’s anti-corruption agency has arrested nine people, including a top district government official and a company director, in a bribery investigation linked to the Lippo Group’s $21 billion Meikarta real estate project near Jakarta. The Corruption Eradication Commission (KPK) arrested two Lippo Group consultants and an employee accused of trying to pay off city officials to obtain property permits for Meikarta, KPK chairman Laode Muhammad Syarif told a news conference late on October 15th. Costing $21 billion and billed as the “Shenzhen of Indonesia”, Meikarta is Lippo’s largest project to date and is meant to be a centre for the automotive and electronic industries, while including five-star hotels, shopping malls and universities. (Bloomberg; Reuters)
Circular Economy
BMW Group, Northvolt, Umicore to develop closed-loop system for EV batteries
BMW Group, Swedish energy startup Northvolt and Belgium-based materials giant Umicore have formed a joint technology consortium to develop a circular value chain for battery cells for electrified vehicles (EVs) in Europe. The consortium’s chief objective is to make battery cells sustainable by establishing a closed life cycle loop, starting with a recyclable cell design and continuing with a manufacturing process powered by renewable energy. At the end of its life cycle, the cell will be recycled and the raw materials reused, completing the loop. “As batteries are becoming a key strategic question for car manufacturers, this partnership…highlights the importance of sustainable battery cells in the coming wave of electrification,” said Northvolt co-founder and CEO Peter Carlsson. (Sustainable Brands)
External Event
3BL Forum: Brands Taking Stands – The Long View
23-25th October | Maryland, USA
With the theme Brands Taking Stands – The Long View, 3BL Forum features engaging sessions with 50+ speakers, interactive “issues tables” for peer-to-peer discussion, the annual CR Magazine awards dinner to honor the Responsible CEO of the Year. This year’s Forum will also include a Town Hall on Brands Taking Stands: A Moment or a Movement? with journalists from the Los Angeles Times and NPR and leaders from MSL U.S., Univision, and National Basketball Players Association Foundation.
3BL Forum will showcase corporate voices on bridging the divide between investor relations and corporate responsibility, and the “why” and “how” as companies seek to align their purpose, values and voice.
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