NATURAL CAPITAL

Report finds $7.4 trillion of global trade dependent on nature

According to think-tank Planet Tracker, roughly 40% of total global trade is dependent on nature, amounting to some $7.4 trillion of exports annually. A report by the think-tank presents a new metric of countries’ nature dependence based on their trading partners and seeks to highlight both the value of natural capital as well as the scale of the world’s exposure to nature-related financial risks. On a country-by-country basis, the levels of reliance on nature-based commodities vary significantly. In some countries, more than 80% of exports are dependent on natural resources. The report also found that significant national or regional reliance on non-renewable resource extraction was correlated with political instability and poorer credit ratings compared with those of medium-to-low dependency. (Business Green)*

DIVERSITY & INCLUSION

UK’s nature sector launches diversity & inclusion roadmap

More than 40 of the UK’s largest nature organisations have agreed to implement a new route map to improve ethnic diversity in the sector. It comes after it was revealed that just one in 20 are already implementing such a plan. The ethnic diversity route map for the sector has been published by voluntary wildlife coalition the Wildlife and Countryside Link (WCL) with support from diversity and inclusion specialist Full Colour. Less than 5% of those employed in the UK’s environment profession are non-white, compared with around 13% of the overall UK workforce. Designed to drive change within a five-year period, the route map recommends that HR and management functions undertake inclusion training in the current financial year and use their learnings to change learning opportunities. (edie)

AGRICULTURE 

Arla Foods launches €500m sustainable farming incentive

European dairy giant Arla Foods has unveiled a new sustainability incentive scheme for its farmers to help fund and motivate actions required to hit its 2030 scope 3 emission reduction targets. Under the new programme, Arla has earmarked payments of up to 3 eurocent per kilo of milk for farmers who undertake sustainability activities in addition to the existing 1 eurocent incentive provided for farmers that submit climate data. Based on the co-operative’s current milk volumes, the programme expects to pay up to €500 million annually. Arla said that based on current milk prices the incentive would provide participating farmers with a price premium of up to 7% on the milk they sell. The scheme will be introduced in 2023. (Business Green)*

EMPLOYEES

US senators ask Starbucks for information on union busting

Four US Senators have asked coffee chain Starbucks to disclose how much it has spent on lawyers and consulting fees to counter growing union membership at hundreds of its US locations. The senators sent their request in a letter to Starbucks which cited “reports that Starbucks is engaging in illegal union-busting tactics” and asked the company to respond within a month. Employees at about 245 out of Starbucks’ nearly 9,000 company-owned US locations have voted to unionise since 2021. The senators also said in the letter they want to see guidance Starbucks gave to managers about how to deal with workers organising unions and whether its spending expenditures to counter unions were listed in its tax filings. Starbucks has reportedly given enhanced benefits only to non-unionised employees. (Reuters)

CLIMATE CHANGE

South Africa submits plan for $8.5 billion in climate aid

South Africa has submitted an investment plan to donors who have pledged $8.5 billion to accelerate the country's transition to renewable energy that could serve as a model for other emerging countries. Negotiators are racing to conclude the deal before the COP27 climate talks in Egypt starting in November 2022 as a potential model for other emerging economies seeking to wean themselves off coal. The funds – promised by Britain, France, Germany, the European Union and the US at COP26 – were to be used to kick-start South Africa’s shift from polluting coal and were mostly offered in the form of concessional loans. For donors to release the funds, South Africa must demonstrate its plan will reduce carbon emissions by more than it was planning to do under its existing climate commitments. (Reuters)

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