CONSUMERS

L’Oréal introduces impact labelling system for US products

Leading beauty company L’Oréal has announced the introduction of its ‘Product Impact Labelling’ in the US, providing consumers with information on the environmental impact of its products. The labels provide an assessment based on a variety of environmental factors across the product lifecycle. First launched in France in 2020, the labelling system examines 14 planetary impact factors, ranging from greenhouse gas emissions, and water scarcity, to ocean acidification, and impact on biodiversity, across the product lifecycle from ingredients to packaging, manufacturing process, transport and ultimately use and disposal. Products are assigned a score from A (best in class) to E. The labelling system is first available for L’Oréal’s Garnier’s haircare products and will be progressively rolled out across the company’s brand portfolio including Kiehl’s, L’Oréal Paris, Redken and CeraVe. (ESG Today)

ENVIRONMENT

Investors demand companies register ‘forever’ chemicals

A coalition of asset managers is demanding the phaseout of hazardous “forever” chemicals, in the latest move by institutional investors to expand their efforts to address environmental risks. Widely used in food packaging, cookware, clothing and carpets, forever chemicals (PFAS) are a group of more than 9,000 compounds that do not break down in the environment and are associated with human health problems including cancers and reproductive abnormalities. Aviva Investors and Storebrand Asset Management have coordinated the campaign by 47 institutional investors with $8 trillion in combined assets. It is targeting 54 chemicals companies including DuPont, 3M, Dow, Eastman Chemical, Air Liquide, Akzo Nobel, BASF, Bayer and Solvay. The investors want manufacturers to establish a global register of PFAS and details of the production volumes of each of the substances. (Financial Times)*

RENEWABLE ENERY

Top supermarkets call on government to ease renewables barriers

UK supermarkets Co-op Group, Tesco, Morrisons, and Marks & Spencer have backed a letter to the Prime Minister urging an overhaul of clean power policies that are hampering renewable projects. Six of the UK’s largest supermarkets joined with 300 community energy businesses to call on Rishi Sunak to change the UK government’s clean energy policy framework to accelerate the development of renewables projects nationwide. The letter urges the prioritisation of incentives to encourage investment in renewable energy, updating planning rules to allow new onshore wind and solar schemes to be fast-tracked, and reforming the electricity market to create “fairer pricing for green energy”. It warns that, without urgent reforms, the UK risks missing its goal to decarbonise the electricity system by 2035 and undermining corporate efforts to switch to 100% renewable power. (Business Green)*

BIODIVERSITY

Study: Nature impacts remain 'blind spot' for major corporates

Corporates' understanding of their impact on nature continues to lag far behind their understanding of their climate impact, according to a report from the World Benchmarking Alliance (WBA). The global business group report assesses the policies and practices of 389 large companies spanning eight sectors with a significant impact on nature. It found that while the value chains of many analysed businesses contribute to biodiversity loss, only 5% carried out science-based assessments to show how their operations had an impact on nature and biodiversity. The report found 97% of companies in the benchmark have yet to commit to a nature-positive trajectory by 2030. Similarly, less than 1% of companies assessed were deemed to have a good understanding of how their operations depend on nature. (Business Green)*

HEALTH

Link between long-Covid and work absence strongest in older

A link between so-called ‘long Covid’ and absence from the labour market has been highlighted for the first time since the pandemic. Latest figures from the Office for National Statistics (ONS) show 23.3% of 16–64-year-olds with long-covid were economically inactive as of July 2022. This, compared to 21.4% being inactive without long Covid, comes as the inactivity rate for those with long-Covid also increased significantly. Between July 2021 and 2022 inactivity for those with long covid increased by almost 4%, compared to just 0.4% without it. The rate was strongest for those between the age of 50-64, who had higher odds of inactivity compared to pre-infection levels which peaked at 71.2%. The ONS figures also showed that those with long-covid are more likely to have long-term absences from work. (City AM)

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