COMMUNITY

Consumer goods giants unite to support vulnerable communities impacted by COVID-19

Forty-five members of the Consumer Goods Forum (CGF) have joined forces to launch a coordinated, global response to mitigate the impact of COVID-19 on those who have been hit hardest by the pandemic. The initiative involves some of the world’s largest food and personal care brands, retailers and manufacturers — including Colgate-Palmolive, Danone, General Mills, Johnson & Johnson Consumer Health, L'Oréal, Nestlé, PepsiCo, Procter & Gamble, Tesco, Unilever and Walmart. The group has identified a series of actions to accelerate support for vulnerable communities during the pandemic — including improving access to healthier foods and personal care products, donating food and personal care products to food banks and community programs, and working with partners who provide essential support locally. The initiative is a response to a CEO-led call to action for members to step up and act locally to help alleviate the health and economic burdens (Sustainable Brands) 

SUSTAINABLE INVESTMENT

Third of low-carbon funds invest in oil and gas stocks, research reveals

A third of climate funds sold in the UK are invested in oil and gas companies, according to research that highlights concerns that investors could be misled by sustainable investment products. The analysis by think-tank Common Wealth also found that low-carbon funds have far greater exposure to technology companies and financials, sectors that may play an indirect role in climate change, than to clean energy stocks. The findings will heap pressure on regulators to take bolder action to prevent greenwashing, where fund managers overstate their sustainability credentials to win a share of the growing environmental, social and governance fund market. The think-tank urged UK policymakers to end confusion about what investments count as “green” by developing a comprehensive classification system that defines a spectrum of activities spanning green, harmful and neutral. (Financial Times)* 

STRATEGY

UK utilities urged to publish dedicated 'just transition' plans

The UK's largest utility companies are facing calls to publish dedicated strategies that set out how they intend to manage the social implications arising from the shift from fossil fuels to low- and zero-carbon solutions. This is amid fears that progress to decarbonise the energy sector could stall if companies at the forefront of the transition do not secure a broad social mandate. Last month, SSE became the first energy company in the UK to launch a formal just transition strategy, and the investors are now calling on National Grid, E.ON, RWE, Scottish Power, EDF, and Centrica to follow suit. Businesses and governments are under growing pressure to ensure the journey to net zero emissions delivers benefits to all consumers, communities, and workers. (Business Green) 

SUPPLY CHAIN

Apple supply chain workers in Asia protest over unpaid wages

Apple’s supply chain in Asia has been hit by worker unrest after staff at the iPhone maker’s contractors in India and China protested over unpaid wages and bonuses. The US tech group said it would suspend new business with Wistron after discovering that the Taiwanese manufacturer had violated its supplier policies by delaying payments to workers at a factory that makes iPhones near Bangalore in southern India. A demonstration on December 12 at the plant, viewed as a leading example of India’s efforts to boost local tech manufacturing, escalated into rioting. Protesters smashed and set fire to property, resulting in damage costing an estimated $7m, while police made dozens of arrests. Apple’s suppliers are under even more pressure this year, as the company plans to increase iPhone production by 30 per cent to 230m devices in 2021. (Financial Times)* 

ENERGY

Windfarms in Great Britain break record for clean power generation

Blustery winter weather helped Great Britain’s windfarms set a record for clean power generation, which made up more than 40% of its electricity on Friday. Wind turbines generated 17.3GW on Friday afternoon, according to figures from the electricity system operator, narrowly beating the previous record set in early January this year. Solar power reached a record of 9.6GW in April, which helped spur the longest coal-free streak ever, of 1,629 consecutive hours, which ended in June. Wind power generation reached a record share of almost 60% of electricity use in August as demand for power fell by more than a fifth compared with the year before. (The Guardian) 

*Subscription required