Corporate Reputation
Queen’s banker fined for poor money laundering checks
Coutts, banker to the British Queen, has been given the biggest ever fine – £8.75 million – for breaches of money-laundering rules after three years of “serious” and “systemic” problems in handling the affairs of customers vulnerable to corruption because of their political links. The FSA fined Coutts because there was an “unacceptable risk” that the bank could have been handling the proceeds of crime for a three-year period up to November 2010 after failing to deal properly with customers classified as “politically exposed persons”.
The Guardian http://www.guardian.co.uk/business/2012/mar/26/coutts-fined-money-laundering-checks?INTCMP=SRCH
Apple CEO in China mission to clear up problems
Apple Inc Chief Executive Tim Cook has jetted into China for talks with government officials as he seeks to clear up a pile of problems in the firm’s biggest growth market, from its contested iPad trademark to treatment of local labour. Apple is reviewing labour standards at the Chinese firm it uses to assemble its iPhones and iPads, Foxconn Technology Group, which has been accused of running sweatshops.
Reuters http://uk.reuters.com/article/2012/03/27/uk-apple-china-idUKBRE82Q06320120327
Supply Chain
McDonald’s announces 2012 Best of Sustainable Supply Chain winners
McDonald’s announces the winners of its 2012 Best of Sustainable Supply Chain by highlighting 51 stories of supply chain partners who have risen to the company’s challenge of improving food sources, the environment, communities and employee wellness across the world. A panel of executives and external experts, including Conservation International, Food Animal Initiative (FAI) and World Wildlife Fund (WWF) selected the final 2012 Best of Sustainable Supply winners.
Environment
Unilever aims to reduce environmental impact through collaborative working
Unilever has published details of a range of research projects focusing on waste, water and health in a bid to develop technologies and products with a lower environmental impact. As part of the new Open Innovation initiative, potential collaborators are being invited to work with Unilever’s research and development (R&D) team to design and work on innovations which support sustainable growth. This is in line with an ambition to double the size of its business while also reducing its environmental footprint and increasing its positive social impact.
UK opens new carbon measuring centre
A new UK-based facility targeting the measurement of carbon emissions and promoting the development of sustainable, clean technology is soon to open. The facility, the Centre for Carbon Measurement, will be based at the National Physical Laboratory in south west London, and will be formally launched at the Planet Under Pressure event in London this week. The centre is intended to help the UK in its bid to ‘lead the world’ in climate modelling, carbon markets and green technology.
Smart Planet http://www.smartplanet.com/blog/smart-takes/uk-opens-new-carbon-measuring-center/24695?tag=nl.e660
Total gas leak forces Shell to evacuate North Sea workers
A growing gas cloud from a leak at a platform operated by Total off Scotland has forced Shell to remove some workers from two nearby rigs for safety reasons. The gas leak on a rig operated by the French firm began on Sunday and has formed a cloud dense enough to be seen by workers on other North Sea rigs. Total said it was unable to predict when or how the leak would be contained.
Reuters http://uk.reuters.com/article/2012/03/27/uk-total-gasleak-idUKBRE82Q09N20120327