Strategy
CDP: Global companies taking “outdated approach” to water issues
According to a new report by the Carbon Disclosure Project (CDP), global companies are taking an outdated and misguided approach to water-related risk management and instead must “strive for stewardship.” The Global Water Report 2013, which was written by Deloitte, argues that companies wrongly believe that water usage is the primary risk driver. The CDP said that “this outdated narrow focus falls short of the required response to the wide range of risks they face.” The findings of the report, which are based on the water disclosures of 184 Global 500 corporations accounting for approximately 11 billion megalitres of water per year, showed that each company faces an average of seven water-related risks. Cate Lamb, the head of CDP’s water programme, said that “although we are seeing great strides in corporate ability to identify water-related risks, the approach to managing those risks is misguided. If businesses are to become truly resilient to the growing threats that water poses, they must strive for water stewardship.” (Edie; Blue & Green Tomorrow)
Policy
UK pledges to fast track EU extractive transparency law
The UK Government has pledged to fast track EU legislation that will make it mandatory for UK listed and UK registered oil, gas, mining and logging firms to declare the payments that they make to governments worldwide. The legislation, which the UK Government has committed to implement by 2015, echoes legislation that was passed in the US last year, however the EU deal goes further than the US law in that it includes the logging sector and covers unlisted as well as listed EU companies. Melissa Lawson, a policy advisor on governance and anti-corruption at the UK development charity Tearfund, said that “at last people will have clear information about what London-listed extractive companies pay to foreign governments.” All 28 EU member states are required to introduce payment disclosure legislation for extractive companies by July 2015, under the adopted EU Accounting Directive. (Reuters)
Technology and Innovation
FAO calls for partnerships to bring biotechnologies to smallholders
The UN Food and Agriculture Organisation (FAO) has called for greater international efforts to bring agricultural biotechnologies to smallholder producers in developing countries. In a new report, Biotechnologies at Work for Smallholders: Case Studies from Developing Countries in Crops, Livestock and Fish, the FAO argues that biotechnologies can help smallholders to improve their livelihoods and food security. The report encompasses a wide range of biotechnologies and the practical realities and experiences of taking biotechnology research and applying it to smallholder production, covering 19 case studies across Africa, South America and Asia. The study found that international and national partnerships were vital for achieving results, as was the sharing of genetic resources, techniques and knowledge across national and continental borders. Andrea Sonnino, the chief of the FAO’s research unit, said that “with the right institutional and financial arrangements, governments, research institutions and organisations can help to bring biotechnologies to smallholders, improving their capacity to cope with challenges like climate change, plant and animal diseases, and the overuse of natural resources.” (Reuters)
Chinese scientists claim “smart window” breakthrough
Scientists at Shanghai University have claimed that they have invented a “smart window” that can both save energy and generate electricity. Professor Gao Yanfeng at Shanghai University said that researchers have made a breakthrough thanks to a new vanadium dioxide film, which can make rooms both mild in winter and cool in the summer. A month long experiment at a house in Hefei, the capital of the Anhui province, revealed that the smart window technology reduced the electricity used by 50 percent owing to less need for air conditioning. Researchers have also designed the smart window to generate electricity by placing solar cells around the glass panel. Zhang Shaosen from the Tongji Architectural Design and Research Institute in China, said that “if such products are introduced in the market with large-scale applications, it will help reduce the energy costs of heating, cooling and lighting, and will cut down the emissions of carbon dioxide.” (CleanBiz Asia)
Responsible Investment
UK industry leaders form research council to advance social investment
Five organisations across UK Government, the third sector and the private sector are collaborating to launch the Social Investment Research Council, which will seek to generate powerful and practical insights for the benefit of social sector organisations and investors. The London office of the US bank Citi, the Big Lottery Fund, the City of London Corporation, Big Society Capital and the UK Cabinet Office, said that in its first year of operation, the council will focus on better understanding the investment products currently on the market and the kind of investors they seek to attract. Nick O’Donohoe, the chief executive of Big Society Capital, said that “there is a lack of information in the market about how to deliver the right kind of investment products to attract investors, and the industry must work together to commission research to help us meet this challenge.” A recent survey conducted by the UK ethical bank Triodos, found that three million investors are considering switching to social investment within the next year. (Blue & Green Tomorrow)