May 2002
UK 'ethical' bank posts record profit
The Co-Operative Bank, which prides itself on its ethical stance towards lending and investment, posted record profits again last year, and broke through the £100 million mark for the first time. The UK company has secured a place in the Sunday Times "Best Companies to Work For" list.
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Chocolate industry to target abusive child labour
Chocolate manufacturers around the world have agreed to work with human rights groups to identify and eliminate abusive child labour practices in countries like Ivory Coast, Cameroon, Ghana and Nigeria. A 'memorandum of co-operation' signed this month acknowledges that a problem exists, and commits the industry to halting the practice throughout its supply chain.
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Avis offers 'carbon neutral' car rental
Car hire customers will be able to make their rental 'carbon neutral' under a new service offered by Avis Europe. For a small surcharge, Avis customers will be able to offset their carbon dioxide emissions via a partnership between Avis and Future Forests, a company that plants trees to act as carbon sinks.
The initiative was praised by European environment commissioner Margot Wallström.
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Computer recycler scoops Queen's Award
A UK firm that specializes in refurbishing and recycling used computer equipment has picked up the prestigious Queen's Award for Enterprise. More than two-thirds of the 30,000 units a month processed by RDC are redeployed by the customer or sold to a third party, following refurbishment.
"Businesses have realized that their duty of care extends beyond the selling of redundant IT assets and are looking for a complete end-of-life management service," said RDC's managing director, Gerry Hackett.
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Ignoring climate change 'could cost industry dear'
Failing to respond to the threat of climate change could cost US businesses and investment funds billions of dollars, according to a new report from the Coalition for Environmentally Responsible Economies (CERES). Value at Risk: Climate Change and the Future of Governance urges company directors to assess the climate risk exposure of their organization, and to put in place a strategy for reducing greenhouse gas emissions.
The report marks the launch of the CERES 'Sustainable Governance Project', designed to raise awareness of social responsibility in America's boardrooms.
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April 2002
New report puts spotlight on food and drink industry
Companies in the food and drink industry should work together to identify ethically-sourced ingredients, a new report from the Corporate Social Responsibility Forum urges. Collaboration is already commonplace in other areas such as the development of marketing codes and the sharing of distribution channels, it points out.
The current trend towards outsourcing within the food industry means that manufacturers must work harder to ensure that their social and environmental standards are upheld throughout the supply chain.
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UK government under pressure to legislate on reporting
A coalition of non-governmental organizations in the UK is urging the Blair administration to make corporate social and environmental reporting a legal requirement. France, Denmark and Holland already have such laws in place, and the 'CORE Coalition', whose members include Friends of the Earth, says the UK needs to follow suit in order to force greater transparency from big business. Fewer than a quarter of the UK's top 350 companies publish substantial environmental information, the group claims.
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Global Reporting Initiative formally inaugurated
In a ceremony at the United Nations headquarters in New York on April 4, the Global Reporting Initiative was formally inaugurated, marking its establishment as a permanent, independent, global institution.
Earlier in the same week, the GRI's draft 2002 Sustainability Reporting Guidelines were issued for consultation. The deadline for comments is May 26, 2002.
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Top ten 'greenwash' claims exposed
A breakfast cereal, a shampoo, a golf course and a sports-utility vehicle feature among the top ten 'greenwash' advertising campaigns of 2002, selected by Earthday Resources and Ecopledge.com. Click here to download a PDF copy of the report Don't be Fooled: The Top Ten Misleading Environmental Claims of the Year.
March 2002
BP notches up 10% cut in carbon emissions
Eight years ahead of schedule, oil company BP has delivered a 10% cut in its greenhouse gas emissions - and pledged to peg future emissions at this level. In 1998, the company set a target of reducing emissions by 10% by the year 2010, a goal which chief executive Lord Browne says it has already achieved.
Looking ahead, the company intends to cap greenhouse emissions at the 2002 value, partly by improving energy efficiency and partly by earning carbon credits through a shift towards less carbon-intensive products. BP's oil and gas production is expected to grow by 5.5% a year.
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IBM, Scottish Power and Lattice share CSR plaudits
Business in the Environment's sixth annual 'Index of Corporate Environmental Engagement' has placed IBM, Scottish Power and Lattice in joint first place for their commitment to environmental stewardship. The so-called BiE Index reveals an improvement in the number of companies recording information and setting targets on greenhouse gas emissions, although nearly a quarter still have no targets in place. 'This year's index is a snapshot of what is happening in global corporations in terms of environmental performance,' said BiE chairman Derek Higgs.
Besides Lattice, new entrants into the index include Jaguar, Innogy Holdings, Volkswagen and GlaxoSmithKline. Highest climbers are Marks & Spencer, Enterprise Oil and Co-operative Insurance Services.
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February 2002
Companies warned over human rights risks
Companies in Europe and North America risk significant costs as well as damage to their reputations if they operate in countries and regions where human rights are regularly violated, a new study has warned. Amnesty International and the International Business Leaders Forum have collaborated to produce a series of seven world maps - each for a different industry sector - highlighting areas where human rights abuses are commonplace. 'Companies must start to look very seriously at the risks they face in these places,' said Robert Davies, chief executive of the IBLF.
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Multinational CEOs call for action on CSR
The chief executive officers of 36 international companies have signed a joint declaration urging business leaders to place corporate social responsibility (CSR) at the core of their strategic plans. Global Corporate Citizenship: The Leadership Challenge for CEOs and Boards was issued at the latest annual meeting of the World Economic Forum, held this month in New York.
The statement's signatories include Coca-Cola, McDonalds, Siemens, Deutsche Bank, ING, and Rio Tinto. It identifies four key roles for CEOs and boards to play: (i) Provide leadership; (ii) Define what it means for your company; (iii) Make it happen; (iv) Be transparent about it. Click here to download a copy in PDF format.
UK insurers urge greater transparency
The Association of British Insurers, which represents more than 400 insurance firms in the UK, has issued guidelines to encourage companies to disclose their environmental, social and ethical risks, as well as their policies for managing them. 'Successful, responsible companies are good for society and for their shareholders,' said ABI director general Mary Francis. The move has been seen as an effort to ward off government regulations.
General Motors wins qualified praise
CERES, the Coalition for Environmentally Responsible Economies, has praised General Motors for the steps it has taken to become more sustainable. In February 1994, GM became the first Fortune 50 manufacturing company to sign up to the CERES Principles, and the latest review is a healthcheck to see how well GM has lived up to its pledges.
The world's largest carmaker has made 'significant improvements' in reducing factory emissions, conserving resources and minimizing waste, CERES found. It has also sharply improved its level of dialogue with stakeholders. However, GM is criticized for its lack of progress on improving the fuel efficiency of its cars and trucks.
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CSR Week scheduled for May 6-10
The Conference Board of Canada's Centre for Business in the Community (CCBC) is inviting companies and organizations to take part in Corporate Social Responsibility Week 2002, scheduled for May 6-10. The event is designed to raise public awareness of CSR issues, and to show how companies are meeting the challenge of contributing to a better society. Activities will include three CSR-related conferences covering ethics, environment and community investment, and a special CSR supplement in Macleans magazine.
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January 2002
Media industry plays 'critical role' in CSR
The media need to adopt a much higher profile in promoting corporate social responsibility, according to a report by the UK-based consultancy SustainAbility. Despite being one of the most powerful industries in the world, it is also one of the least trusted and least accountable.
The media's role is twofold, says the report, entitled 'Good News and Bad'. Firstly, newspapers and broadcasters must put their own house in order - for example by adopting ethical codes of conduct and by ensuring transparency about political allegiances and sources of funding. Secondly, they must play a more responsible role in reporting 'slow burn' issues like population growth, environmental degradation and globalization.
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Paper industry ponders green futures
Senior figures from the paper and forestry industry will gather in Brussels next month for a two-day conference devoted to sustainability issues. Topics on the agenda at the 8th Global Conference on Paper & the Environment on 14-15 February include forest certification, emission trading, environmentally friendly manufacturing and recycling. Among the speakers at the will be Björn Hägglund, deputy CEO of Stora Enso, and Kim Holmström of the European Commission. Delegates will also hear speakers from Norway, Germany, the UK, Canada and the USA.
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UK supermarkets agree to ethical scrutiny
Nine of the largest food retailers in the UK, including Safeway, Tesco and J Sainsbury, have agreed to participate in an independent study that will track their social, environmental and ethical performance over the next five years. The project, known as 'Race to the Top', is being co-ordinated by the International Institute for Environment and Development. The first year's findings will be published during the spring and summer of 2002.
Kingfisher launches group-wide CSR programme
Kingfisher, Europe's largest home improvement retailer, has unveiled plans to track corporate social responsibility across all its operating companies. Group chief executive Sir Geoff Mulcahy says CSR offers significant business benefits, including lower operating costs, greater customer loyalty and a lower rate of staff turnover. A 'social responsibility team' has been set up to provide advice and support to the managers of individual companies within the group. Each business has been asked to draw up a detailed report, by April 2002, outlining where it is now in terms of CSR, and where it hopes to be in the future.
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December 2001
Printing industry seeks 'green' options
Senior figures from the printing industry will gather in New York next February to identify ways of lessening their impact on the environment. The conference session 'Sustainability and the Greening of Print' will take place on February 21, as part of the publishing industry's 'Seybold Seminars'. The session will be chaired by Don Carli, principal of market research provider Nima Hunter. His company is currently conducting a research programme on sustainability in printing, and a report, The Greening of Print, is due for publication in June 2002.
Watts elected new chairman of WBCSD
Philip Watts, chairman of the committee of managing directors of the Royal Dutch/Shell Group of Companies, has been elected new chairman of the World Business Council for Sustainable Development (WBCSD). He takes over on January 1, 2002, and will hold the post for two years.
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Ecolabeling extended to retail stores
Eco-labels are to be awarded to retail stores for the first time, as part of the 'Nordic Swan' labeling scheme which operates in Sweden, Norway, Denmark, Finland and Iceland. Criteria to be considered will include energy and water consumption, and the range of eco-labeled products offered for sale. The scheme already covers hotels, alongside a wide range of household and office products.
Europe-wide survey reveals extent of SRI market
A survey of more than 300 financial professionals in Europe has revealed a high degree of confidence in socially responsible investment (SRI). Seventy-seven percent of respondents said they would prefer an SRI fund to a traditional one, even if the returns in the short term were lower.
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