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2nd July Guardian HSBC HIRES STERN
AS ADVISER
HSBC announced the appointment of Sir Nicholas Stern
as Special Advisor to the Chairman on Economic Development
and Climate Change. Sir Nicholas marked his authority
on climate change and development with the publication
in October 2006 of the Stern Review, which laid out
the dangers of climate change, recommended action to
counter the phenomenon and quantified the potential
economic impact. In addition to advising the Bank, Sir
Nicholas will also advice HSBC's largest clients, and
contribute to management training programmes in order
to "incorporate an understanding of climate change
into HSBC's economic models and analysis for the future".
Earlier, on 28 June 2007, HSBC announced announced that
it was committing US$90 million to its Global Environmental
Efficiency Programme, a series of initiatives which
include the introduction of renewable energy technology,
as well as water and waste reduction programmes.
http://business.guardian.co.uk/story/0,,2116694,00.html
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2nd
July Telegraph CHIEF EXECUTIVES UNCOVERED
The Daily Telegraph has linked with executive search firm
Heidrick & Struggles and Steve Tappin, leader of its
CEO practice, interviewing nearly two-thirds of FTSE 100
chief executives. The first interview is with BT chief
executive Ben Verwaayen who "characterises himself
as a business transformer."
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/exclusions/nakedceo/chief_exec_uncov.xml |
2nd July
Financial Times MCDONALDS POWERING TRUCK WITH COOKING
OIL
McDonald's plans to run its 155 UK delivery trucks on
biodiesel made entirely from cooking oil collected from
its restaurants by the end of the year. This is the latest
move in a series of environmentally and socially responsible
efforts being made by the multinational, which was the
focus of a sustained campaign by Greenpeace last year.
So far, the fast-food retailer has stopped sourcing soya
from deforested areas of Brazil and started buying Rainforest
Alliance certified coffee. Francesca DeBiase, McDonald's
chief supply chain officer, said the group's European
operation was an 'early warning system'for the US, and
the beginning of a push towards cutting the company's
carbon emissions., http://www.ft.com/cms/s/59d41da6-27f9-11dc-80da-000b5df10621.html
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2nd July
Financial Times COKE TRIES TO TAKE LEAD IN SUSTAINABILITY
Dominique Reiniche, president of Coke's European business,
talks to the Financial Times about the company's growing
social responsibility agenda. Earlier this month, Coke
enlisted the help of the WWF to find ways to cut back
and replenish the 290bn litres of water it uses annually.
The company is also working with Greenpeace to develop
environmentally friendly beverage coolers and vending
machines that will cut the hydro-fluorocarbon greenhouse
gases released into the atmosphere. They are also looking
at their global sourcing and advertising policies. http://www.ft.com/cms/s/c30b775c-2834-11dc-80da-000b5df10621.html |
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2nd July Financial Times THE NEW PHILANTHROPY
According to recent statistics, investment bankers and
hedge fund managers are increasingly investing in 'new
philanthropy'projects, in which business principles
are applied to charitable fundraising. There are many
reasons for this, as one investment banker pointed out:
"I donate because I'm superstitious; I worry that
if I don't, my luck will run out." But, he adds,
hedge fund managers, like entrepreneurs, take a keen
interest in how their money is spent and that this is
driving a new approach. According to Danny Truell, chief
investment officer at the Wellcome Trust, 'strategic'or
'venture philanthropy'is in its infancy and will continue
to grow.
http://www.ft.com/cms/s/80f6734e-2834-11dc-80da-000b5df10621.html
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2nd July
Financial Times LAWS ON RECYCLING ELECTRICAL EQUIPMENT
COME INTO FORCE
An electrical recycling industry was established this
weekend, with the enactment of a new law requiring all
electrical retailers and producers in the UK to make provisions
to take back and recycle old products. Currys, PC World
and Dixons were just some of the names that have started
informing customers of the new recycling plans. Though
it is estimated that the new industry will be worth £400m
a year when at full throttle, the biggest obstacle to
its success is a lack of public awareness. When compared
to yesterday's smoking ban, which 95 percent of people
were aware of, only two percent of the population knew
of the new recycling laws.
http://www.ft.com/cms/s/4117676c-26a7-11dc-8e18-000b5df10621.html
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2nd July
International Herald Tribune CHINA FINALLY ENACTS LABOUR
LAW
This week, after 18 months of deliberation and a rare
government request for public comment on the law, legislators
are expected to enact a final version of the Chinese labour
law that will be the most significant change in Chinese
labour rules in more than a decade. The law has been criticised
by some foreign investors for giving too many rights to
Chinese workers, with aspects of the law described as
'prohibitively expensive' for outsiders producing goods
in China. Activists have warned that poor implementation
of existing laws mean it is unlikely to improve conditions
in the near future. http://www.iht.com/articles/ap/2007/06/27/business/AS-FEA-FIN-China-Labor-Clash.php |
3rd July
Independent IMMUNITY URGED FOR CITY SUPERGRASSES
James Moore writes that the City watchdog should be given
the power to offer immunity to financial supergrasses
in an attempt to help break increasingly sophisticated
insider trading gangs, its outgoing chief executive John
Tiner said last night. http://news.independent.co.uk/business/news/article2730484.ece
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3rd July FT SPECIAL REPORT - RESPONSIBLE BUSINESS
A special report on responsible business has been published
today on How 25 years of Business in the Community have
changed corporate attitudes.
http://www.ft.com/cms/32b9a64a-288b-11dc-af78-000b5df10621.html
Includes the following articles:
THE BEST OUTSTRIP GOVERNMENTS
Companies are paying more attention to ethical questions
than ever before. Fergal Byrne looks at where their
vested interests lie, and what gives the top CSR practitioners
the edge over other companies. Doing "ethical things"
is not the same as doing "things ethically",
says Simon Webley, research director at the Institute
of Business Ethics. "Ethical businesses are focused
on the 'how' rather than the 'what', on doing things
in an ethical way - ethics applies to your relationships
with all your stakeholders."
http://www.ft.com/cms/s/2f1dc538-2887-11dc-af78-000b5df10621.html
'WE WANT REGULATION'
Major businesses have been breaking with tradition and
demanding external regulation of their industries. Alison
Maitland looks at why multinationals are speaking out
about regulation, and what obstacles are facing progressive
businesses. http://www.ft.com/cms/s/dc1ac070-2886-11dc-af78-000b5df10621.html
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3rd July
Telegraph BIG PHARMA'S NEW AFRICA
Katherine Griffiths reports about pharmaceutical companies
believing that helping poor countries in times of need
can reap rewards later.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/03/ccafrica103.xml
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| 3rd July
US HOUSE FINANCIAL SERVICES COMMITTEE PASSES DIVERSITY
INITIATIVE The House Financial Services (HFS) Committee
has passed a resolution that it hopes will increase diversity
in the financial services industry in the US. Con. Res.140
specifies that the HFS Committee will encourage the financial
services to promote workforce diversity by partnering
with organisations focused on developing minority opportunities,
offering more youth internships, recruiting at women's
and minority colleges; and providing mentoring programmes
in disadvantaged areas. http://www.webcpa.com/article.cfm?articleid=24629 |
3rd July
International Herald Tribune THE SPREAD OF THE CORPORATE
ENVIRONMENTAL CHIEFS
The corporate boardroom has swollen to include one more
member: the chief sustainability officer. What started
as a nod to corporate social responsibility has grown
into a role of considerable clout, with environment issues
running into product research and management, advertising
and brand management. Geoffrey Heal, an economics professor
at the Columbia Business School, says that "what
started out as a compliance job has evolved into one that
guards the value of the brand". This article looks
at how the role has evolved at Du Pont, HSBC and General
Motors to see if these companies really have realised
that sustainability and profitable growth go hand in hand.
http://www.iht.com/articles/2007/07/02/business/sustain.php
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3rd July
Financial Times ETHICAL COMPANIES OUTPERFORM PEERS
Goldman Sachs has produced a report that shows large,
ethical companies consistently outperform their peers.
Evidence reveals companies in the FTSE4Good and the Dow
Jones Sustainability Index have outperformed their peers
since 2000, disproving the notion that investing in CSR
is a costly burden. The findings will be supported by
a report by the consultancy McKinsey, which will show
that business leaders see CSR investment as congruous
with profitable growth and market advantages, although
this survey also showed that there was a big gap between
good intentions and corporate practice. Both reports have
been released ahead of the UN Global Compact meeting taking
place tomorrow, July 4. http://www.ft.com/cms/s/fa88eeb0-28e5-11dc-af78-000b5df10621.html
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3rd July
Guardian FORGET TESCO: THE BIGGER THREAT TO SMALL SHOPS
MAY BE WAITROSE
Store used by affluent customers and praised for green
policies is worrying delis and farm shops due to the range
and qulaity of the products it stocks.
http://www.guardian.co.uk/supermarkets/story/0,,2116982,00.html
3rd July Guardian STOP DOING THE CBI'S BIDDING, AND WE
COULD BE FOSSIL FUEL FREE IN 20 YEARS
George Monbiot argues that the prospects for renewable
power are promising. But it means nothing if the public
interest is drowned by corporate power
http://www.guardian.co.uk/Columnists/Column/0,,2117232,00.html
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4th July
Financial Times DARLING EASES BUY-OUT FEARS
Chris Giles, James Blitz and Lionel Barber report that
Alistair Darling has ruled out an immediate clampdown
on tax privileges used by the private equity industry,
fearing that any sudden changes might have undesirable
effects on the "absolutely critical" role the
City plays in the economy.
http://www.ft.com/cms/s/1a30f624-29a7-11dc-a530-000b5df10621.html
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4th July
Times M&S BOWS TO SHAREHOLDERS AND TOUGHENS TERMS
OF ROSE'S BONUS
Marks & Spencer has bowed to shareholder pressure
and modified the terms of its controversial bonus scheme
for Stuart Rose, its chief executive, and other top directors
at the high street retailer. http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article2022834.ece
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4th July
Financial Times EUROPE URGED TO FUND GENERIC DRUGS INDUSTRY
Members of the European parliament will demand next week
that the Europe Union fund the creation of generic drugs
industries in developing markets, or risk losing support
for modifying the Trips Agreement, which protects intellectual
property. Since the Trips Agreement was established in
1994, HIV / Aids has become an international threat that
has transformed many perspectives on a poor country's
right to produce generic drugs. MEPs calling for the change
are ruling out subsidized drugs for only creating further
dependency between poor and rich nations. Western pharmaceuticals
argue that profits facilitated by patent protection, allows
them to invest in research and development for new products.
http://www.ft.com/cms/s/8bf02c70-29c6-11dc-a530-000b5df10621.html
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4th July International Herald Tribune BRAZIL'S ETHANOL
'SLAVE'INDUSTRY
Brazilian police have raided an Amazonian sugar plantation
and uncovered more than 1,000 people working as slave
labour in terrible conditions. The company, Para Pastoril
e Agricola, has been in operation since 1969 and each
year produces 50 million litres (13.2 million gallons)
of ethanol, often billed as an environmentally friendly
alternative to gasoline. Brazil is also a major ethanol
exporter and is receiving billions of dollars of investment
amid rising international demand for the alternative
fuel. Brazil has been under pressure for some time to
'humanize the sugar cane industry'in which corporations
treat their workers notoriously badly while pocketing
huge profits on the international market. , http://www.iht.com/articles/ap/2007/07/03/america/LA-GEN-Brazil-Debt-Slavery.php
DEBT SLAVERY IN SUGAR-CANE PLANTATION BUSTED http://news.independent.co.uk/world/americas/article2733245.ece
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4th July
Telegraph CODE OF CONDUCT AIMS TO HEAD OFF CRITICISM
Sir David Walker is to call for the introduction of a
'comply or explain' voluntary code of conduct for the
private equity industry in a bid to halt the intense criticism
being levelled at it. Sir David, the former chairman of
the Securities and Investment Board, will also call for
the appointment of a permanent board of trustees to monitor
the code to ensure the industry continues to regulate
itself. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/04/cnpequity104.xml
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4th July
Friends of the Earth ENVIRONMENTALISTS SHED LIGHT ON ILLEGAL
LOGGING AND ASK EU TO DROP BIOFUELS TARGET
Friends of the Earth have published a report alleging
that Wilmar, the world's biggest trader in palm oil, is
illegally logging rainforests, setting forests on fire
and violating the rights of local communities in Indonesia.
Due to EU targets and subsidies, Europe has become the
world's biggest importer of palm oil, with Wilmar supplying
multinational companies like Unilever, Nestlé
and Cargill. The report demands that the EU drops its
biofuel targets and subsidies, saying that the trade is
not sustainable or properly regulated. http://www.foeeurope.org/press/2007/July3_PDC_Wilmar_PalmOil.htm
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4th July
Times TOBACCO GIANTS 'TARGETED AFRICAN CHILDREN TO BOOST
FLAGGING PROFITS'
Lawyers in Nigeria have accused tobacco companies British
American Tobacco and Philip Morris of targeting young
people in order to increase their sales in developing
countries and offset declining demand in the West. The
lawyers are representing Nigeria's largest state Kano,
which is among four states - including Lagos, Gombe and
Oyo - suing BAT Nigeria, BAT Group, and Philip Morris
International for damages of US$38 billion to recover
the cost of smoking-related diseases. A trial in Lagos
began in May 2007, and three others are expected to have
started by 9 July 2007. Among other complaints, lawyers
are accusing the firms of having sponsored popular music
concerts and sporting events, in some cases handing out
free cigarettes. Much of the evidence is expected to come
from internal company documents that were released as
part of a settlement that the tobacco industry in the
US reached in the 1990s. http://www.timesonline.co.uk/tol/news/world/africa/article2022928.ece
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5th July
Guardian MCDONALD'S FAILED CSR REBRANDING
The Guardian asks members of the public what they think
of McDonald's recent rebranding – first in its
sourcing and environmental policies, now in its in-store
presentation. Though some waver, the fast-food retailer
hasn't won hearts and minds yet. http://business.guardian.co.uk/greenbusiness/story/0,,2118894,00.html |
5th July
Financial Times FINANCE TEAM CAN PLAY KEY ROLE AS CSR
COMES OF AGE
CSR reports are becoming as common as financial reports
in some companies, says Geoff Booth, so what is the best
way to do this, how should data be collated and how do
you measure success? Booth argues that accountants can
link the somewhat hazy world of CSR reporting to the meticulous
and methodical approach taken with financial reporting.
Accountancy skills can help build the business case for
CSR strategies by quantifying qualitative data, thereby
strengthening the case for CSR with investors and directors
through consistent, reliable analysis. http://www.ft.com/cms/s/4eb6e1c6-2a90-11dc-9208-000b5df10621.html
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5th July
Financial Times SUPPLEMENT ON CORPORATE CITIZENSHIP AND
PHILANTHROPY
The FT provides pioneering assessments of leading non-governmental
organisations. There are three case stduies of NGO's from
the listings of global and regional organisations. The
supplement also addresses non-profit sector becoming more
professional as partnerships with companies bring in skills
of the business sector. It also addresses how building
capacity is still the challenge and NGO's are finding
their ethos permeating into companies they enter partnerships
with. Dividing lines are being blurred and new sources
of energy, dynamism and funds are being tapped. http://www.ft.com/cms/s/7e0524e0-2ac4-11dc-85f9-000b5df10621.html |
5th July
Financial Times BUSINESS SEEKS CLEAR POLICY ON CLIMATE
CHANGE
Government policy on climate change is so vague and inconsistent
businesses are unable to make sensible investment decisions
on environmental issues, says a survey of large and medium-sized
companies http://www.ft.com/cms/s/8d14ef8e-2a5f-11dc-9208-000b5df10621.html |
5th July
Melbourne Age Corporate responsibility can give competitive
advantage
Business in the Community's Associate Director, David
Grayson, writes on the British experience of responsible
business in the Melbourne Age.
http://www.theage.com.au/articles/2007/07/04/1183351290798.html
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5th July
Telegraph WAKE-UP CALL TO CITY OVER AGEING STAFF
Roland Gribben reports that companies are being warned
to move faster to cope with an ageing workforce or face
an investment downgrading.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/05/cnbageing05.xml
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6th July
Reuters UN TOLD TO TOUGHEN UP ON GLOBAL COMPACT
Amnesty International, Greenpeace and Action Aid have
told more than 1,000 executives and officials at the UN
Global Compact Summit in Geneva that the present approach
to CSR was not changing corporate behaviour enough. The
NGOs criticised the number of companies who had signed
the compact, without ratifying it, and the lack of sanctions
that the UN imposed for such behaviour. 'What is needed
are legally binding regulations to control corporate activities
with respect to human rights", Aftab Alam Khan of
ActionAid told journalists in Geneva. Other campaigners
criticised the initiative's guidelines for being so ambiguous
that the need for companies to change policies and take
action was negated. Though up to 600 companies have been
evicted from the group for failing to comply with the
Compact, Amnesty said that these evictions were more due
to technicalities like failing to file reports and were
not a true reflection of whether the integrity of the
Compact was being honoured. http://www.reuters.com/article/latestCrisis/idUSL04856760 |
6th July
Guardian UK RANKS HIGHLY IN RESPONSIBLE BUSINESS INDEX
Britain ranks fifth behind a group of Nordic countries
in a survey released today of the world's most responsibly
competitive nations. The responsible competitiveness index,
which parallels the World Economic Forum's global competitiveness
index, is aimed at governments and policymakers in the
belief that national competitiveness and responsible business
practices go hand in hand. http://business.guardian.co.uk/greenbusiness/story/0,,2120251,00.html
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6th July
Guardian REBRANDING: MCDONALDS GOES GREEN - BUT NOT ALL
CUSTOMERS ARE LOVIN' IT
Marianne Barriaux reports that McDonald's is a company
on a mission. Tired of being held up as an example of
corporate evil and greed, the fast food chain has been
hitting out at critics with a series of environmental
and social initiatives designed to prove that it cares.
http://business.guardian.co.uk/story/0,,2118676,00.html
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6th July
International Herald Tribune NEW ETHICAL CULTURE AT SIEMENS,
SAYS NEW CHIEF
Peter Loscher, the new chief executive of Siemens' engineering
division, announced that his top priority will be to change
the company's organisational structure because he believes
it to be susceptible to bribery and corruption. The firm
is currently being investigated for the embezzlement of
funds of up to $570m. In a recent press conference in
Berlin, Loscher said he was aiming for 'clear lines of
responsibility, a high level of transparency and maximum
speed'in his reforms. http://www.iht.com/articles/2007/07/05/bloomberg/siemens.php |
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6th July Financial Times UNGC'S EMISSIONS PLEDGE
More than 150 companies have adopted the 'Caring for
climate' declaration made at yesterday's UN Global Compact
(UNGC) meeting. Among companies making the commitment
were a number of big energy consumers like Rio Tinto,
Alcan and Anglo-American, as well as firms from emerging
economies like China. Members of the declaration will
be obliged to monitor and reduce their energy consumption,
as well as publish annual transparency reports tracking
their progress. Though the new initiative was praised
by head of the Compact, George Kell, as an 'unprecedented
effort', it has not been so well received by everyone.
Environmentalists are asking the UNGC to impose sanctions
when companies fail to comply, while Sir Mark Moody-Stewart,
of Anglo-American, said that the agreement 'did not
go far enough'.
http://www.ft.com/cms/s/828047d0-2b13-11dc-85f9-000b5df10621.html
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8th July
Observer IKEA BINS BAGS IN BID TO MAKE STORES GREENER
Furniture giant Ikea is to become the country's first
major retailer to completely abandon traditional plastic
bags. This week Ikea, which has 15 stores in the UK, will
go 'carrier neutral' by removing all plastic bags from
its stores. The retailer smoothed the way by first charging
for bags, encouraging customers to opt for its reusable
'blue bags', or to stop using bags altogether. The initiative
stems from a pledge it made at last year's World Environment
Day, to cut plastic bag usage from 32 million a year to
12 million. It is not alone in tackling the area. Marks
& Spencer aims to cut use by a third in three years
and all the major supermarkets are promoting 'bag for
life' schemes.
http://observer.guardian.co.uk/business/story/0,,2121041,00.html
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8th July
Observer DRAMATIC INCREASE IN 'NON-DOM' TAX AVOIDERS
T he number of people claiming non-domicile tax status
is exploding. Tax experts confirm an unprecedented surge
in non-dom applications that enable the world's super-rich
and City financiers to avoid income and capital gains
tax on earnings made here and abroad.
The news will embarrass the government, which is under
pressure to close a loophole that has led some to call
London the world's first onshore tax haven.
The Inland Revenue revealed this year that 112,000 people
filled in a 19-question, self-assessed non-dom form for
the tax year 2004/05. But it is thought the figure for
2006/07 could be 200,000 or more. http://observer.guardian.co.uk/business/story/0,,2121032,00.html
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9th
July CSRwire.com CARBON FREE PRODUCT LABEL INTRODUCED
Carbonfund.org launched their CarbonFree™ Certified
Product label in the US on Friday. The label is designed
to allow companies who have followed Carbonfund.org's
four step programme to promote their products as carbon-neutral.
Companies wishing to be involved in the programme will
have to have a life-cycle analysis of the product; register
the product; offset the emissions quarterly based on actual
unit sales of each certified product with Carbonfund.org;
and annually review the product's footprint and reporting
on measures the company has taken to reduce the climate
impact of producing the product. Yakima, Ecofuture and
Monarch Beverages are among companies to have signed up
to the programme. http://www.csrwire.com/News/9134.html
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9th July
Guardian ETHNIC MINORITY FIRMS CHALLENGE STRAW IN HIGH
COURT OVER LEGAL AID
Jack Straw will face the Law Society, the Commission for
Racial Equality and ethnic minority lawyers in court next
week over government plans to reform legal aid. Those
opposed say that the new changes, designed to make the
legal aid model more efficient, will discriminate against
ethnic minority law firms and their clients. The plans,
proposed by Lord Carter of Coles, will replace hourly
charges with fixed rate fees, meaning that a large number
of ethnic minority law firms who take on cases will no
longer be able to afford to do so. A report commissioned
by the Legal Services Commission and produced by Otterburn
Legal Consulting supported oppositional claims, warning
that the 'highly fragile' financial state of many legal
aid firms would lead to more dominance from large, international
firms. http://www.guardian.co.uk/guardianpolitics/story/0,,2121704,00.html
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9th July
Financial Times LONDON LAWYER TO TEST NEW LAW ON AGEISM
A former insolvency partner at Freshfields Bruckhaus Deringer,
one of the biggest City law firms, is planning to take
the firm to court over alleged ageist changes to the company's
pensions plan. Withholding a last minute out-of-court
settlement, this will become the first major city ageism
case to go to court since the new laws were introduced
last October. Although this case, brought forward by Peter
Bloxham, is the first to be heard in court, there are
nearly 1,000 more in the legal pipeline. A recent survey
of more than 50 organisations also found that almost one
in nine employers had been hit with age discrimination
allegations since the laws took effect. http://www.ft.com/cms/s/85178110-2df3-11dc-821c-0000779fd2ac.html
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9th July
New York Times ADS AGAINST DRINKING NOT STRONG ENOUGH
Research by Georgetown University's Centre for Alcohol
Marketing and Youth has found that the amount of money
spent on anti-drinking advertising has dropped significantly
since 2000. While $14.7m was spent on TV ads to curtail
drinking in 2001, only $357,386 was spent in 2005, saving
liquor companies about $2m each on public service ad spending.
http://www.nytimes.com/2007/07/09/business/media/09drill.html?ref=business |
|
9th July Independent SHOPPERS WANT LESS PACKAGING AND
MORE RECYCLING, SURVEY SHOWS
A MORI survey of over 1,000 supermarket shoppers has
shown that over 90 percent would like to see a reduction
in packaging, supported by an increase in recyclable
packaging. Of those interviewed, 58 percent also said
that they would choose one shop over another for environmental
reasons. Jane Robinson, from MORI, said three quarters
of the public wanted the Government to force retailers
to take their social and environmental responsibilities
more seriously.
http://environment.independent.co.uk/lifestyle/article2747699.ece
For progress reports on the Women's Institute's recent
anti-packaging campaign, see: http://www.independent.co.uk/multimedia/archive/00250/survey_250156a.pdf
|
|
10th July Financial Times WORLD WILL FACE OIL CRUNCH
'IN FIVE YEARS'
The world is facing an oil supply "crunch"
within five years that will force up prices to record
levels and increase the west's dependence on oil cartel
Opec, the industrialised countries' energy watchdog
has warned. http://www.ft.com/cms/s/2ff98cf2-2e7d-11dc-821c-0000779fd2ac.html
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10th July
Telegraph BGB 'WILL DEFEND REPITCHES IN COURT'
British Gas Business has hit back at criticism from the
rest of the industry over its sales practices by pledging
to pay for the court costs of the first electricity customer
that is threatened with legal action. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/10/ybnbritgas110.xml
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10th July
BBC BUILDING CARTEL ENDEMIC
The construction industry is under suspicion of industry-wide
price-fixing and being investigated by the Office of Fair
Trading (OFT). It is thought that the problem is wide-spread,
with a number of big name companies being inspected. A
record number of 37 companies have admitted wrong-doing
in order to attract lenient treatment from the investigation,
which is expected to reach over 100 companies. It has
been reported that the most common practice is price-fixing
in groups, whereby building companies decide among themselves
which of their group will win the contract, and then subject
the customer to a round of inflated bids to drive up the
winner's profits.
http://news.bbc.co.uk/1/hi/programmes/file_on_4/6284126.stm
|
10th July
Wall Street Journal MCDONALD'S ENERGY SAVING PLAN
McDonald's Corporation has announced the installation
of a network system that will monitor its kitchens' energy
consumption more efficiently. The move is part of a concerted
CSR drive from the fast-food retailer, as well as a clear
economic choice since commercial power prices have risen
23% since 2000. Though the new monitoring system is expected
to save each kitchen at least 10% of energy, headquarters
will not enforce or subsidise installations in franchises
- therefore franchises will be unlikely to adopt the expensive
equipment. http://online.wsj.com/article/SB118403406130761627.html?mod=hps_europe_at_glance_technology |
10th July
Guardian DARLING'S FIRST BUDGET TO TARGET PRIVATE EQUITY
AS PUBLIC SECTOR PAY IS SQUEEZED
Alistair Darling last night hinted that he might use his
first budget to rein in the tax breaks enjoyed by Britain's
rapidly expanding private equity sector. He also warned
public sector workers that they would have to accept a
below-inflation pay rise this year as part of a Treasury
clampdown on public spending.
http://business.guardian.co.uk/privateequity/story/0,,2122718,00.html
|
10th July
Independent ANOTHER VICTORY IN BATTLE TO CURB AIRPORT
GROWTH
A dramatic grassroots fightback is under way against the
massive expansion plans of Britain's airports which, despite
grave concerns about effects on the environment, are aiming
to treble flights and vastly increase passenger numbers
within 20 years. http://news.independent.co.uk/uk/transport/article2750502.ece
|
| 10th July
Independent AFRICAN FOREST UNDER THREAT FROM SUGAR CANE
PLANTATION Conservationists in Uganda are fighting their
government and a sugar corporation for the preservation
of the Mabira Forest Reserve, a protected area on the
North shore of Lake Victoria. The Mehta sugar corporation
has gained the support of the government in its quest
to expand sugar production to sell on the international
biofuels market, even though this would breach a deal
Uganda made with the World Bank in 2001 to protect the
forest. The forest is home to 300 bird species as well
as rare primates, and plays a vital role in the country's
eco-system, storing carbon and regulating rainfall. Yoweri
Museveni, the Ugandan President, is defending his choice
to 'see where the future of Africa lies', even though
MPs in opposition argue that the deal makes no economic
sense. http://environment.independent.co.uk/article2750455.ece |
10th July
BBC GREEN BANKING
UK banks have joined the string of industries trying to
associate themselves with saving the planet. The BBC looks
at the new Barclays Breathe credit card, among other initiatives,
and asks whether green credentials are deserved or whether
they should be relegated to green-washing. In the spotlight
are paperless banking, HSBC's environmental donations
and ethical investments. Are the concepts of ethical and
banking polar opposites, and is this bandwagon going in
the right direction?
http://news.bbc.co.uk/1/hi/business/6278174.stm |
11th July
Guardian WATCHDOG SEEKS AN END TO 'HORROR' OF PERSONAL
DATA SECURITY LEAKS
Britain's data watchdog sparked a row with business leaders
yesterday when he called for more powers to confront companies
that fail to protect personal information held on computers.
He wants a new rule that would allow investigators to
look at files without the permission of company directors
http://business.guardian.co.uk/story/0,,2123182,00.html |
11th July
Financial Times RBS SEEKS CLIMATE CHANGE CREDENTIALS
Royal Bank of Scotland is the world's biggest arranger
of finance for renewable energy, the bank says today,
as it attempts to highlight its strength in the market
after high-profile announcements from competitors such
as Citigroup and Bank of America. http://www.ft.com/cms/s/9692556a-2f4b-11dc-b9b7-0000779fd2ac.html
|
11th July
Telegraph CBI CHIEF WARNS OF INEQUALITY BACKLASH
The leader of Britain's largest business lobby group has
warned companies and politicians that they must do more
to address the inequalities and unease in society or risk
a backlash against the free-market principles that have
underpinned the UK's economic growth. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/11/cnlambert111.xm
|
12th July
PR NEW LEADER FOR INTERNATIONAL CSR NETWORK
James F. Kenefick, area telecom and social entrepreneur,
and Mark Van Ness, have been named chairs of the newly-formed
Young Presidents' Organization (YPO) Social Responsibility
Network - a global community of CEOs dedicated to using
their companies as a tool for social benefit. The group
aims to identify, sponsor and often create CSR education
and peer-networking opportunities for over 160 CEOs who
wish to expand their companies' CSR activities. http://www.pr.com/press-release/44629
|
12th July
Guardian UNDERAGE MODELS SHOULD BE BANNED FROM CATWALKS,
SAYS INQUIRY
Models under 16 should be banned from the runways, designers
should be trained to help models with eating disorders
and shows should be "demonstrably" drug-free,
an investigation into the fashion industry has concluded.
The measures are set out by the Model Health Inquiry,
which was set up in response to concerns about the use
of ultra-thin models during last year's London fashion
week. http://lifeandhealth.guardian.co.uk/fashion/story/0,,2124290,00.html |
12th July
Telegraph JUNK FOOD TAX COULD SAVE THOUSANDS OF LIVES
A YEAR
A tax on unhealthy food could prevent more than 3,200
deaths every year in the UK, experts said yesterday. The
foods that should be taxed to gain the biggest reduction
in deaths include dairy foods, sugar and cakes. http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/07/12/nfood312.xml
|
|
12th July Financial Times E&Y SEND COMPLIANCE
WORK OFFSHORE
Thousands of businesses will have their corporate tax
returns completed in India after Ernst & Young announced
it would be the first of the big four firms to move
its UK tax compliance work offshore, writes Vanessa
Houlder. http://www.ft.com/cms/s/fceb6fee-300f-11dc-a68f-0000779fd2ac.html
|
12th July
Telegraph EXPOSED: HOW MULTINATIONALS OPERATE IN THE UK
Roland Gribben reports that evidence from UK business
schools highlights how multinational practices are influencing
Britain and says that almost all of the foreign businesses
pay employees above the norm. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/12/cnbmultinational12.xml |
12th July
Times WHY BIG BAD BUSINESS NEEDS TO SHOW ITS TEETH
Andrew Griffin argues that business needs to fight back
against claims of irresponsible behaviour rather than
meekly accepting the arguments of its detractors.
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article2056421.ece
|
13th July
Washington Post U.S. FIRM ON TRIAL IN COLOMBIA SLAYINGS
This week, in a federal court in Birmingham, Drummond
Co., the Alabama-based coal producer has begun defending
itself in a civil suit in which the families of three
murdered union members are seeking unspecified damages
for their deaths. Drummond has denied allegations that
it ever worked with paramilitary groups or played a role
in the deaths. A U.S. jury is hearing a suit alleging
that the Alabama-based firm hired paramilitary fighters
to kill three unionists there in 2001.
The case marks the first time an American company has
gone before a jury in a U.S. court for alleged abuses
committed abroad. The trial is expected to generate scrutiny
from other federal benches and the Supreme Court, which
in 2004 upheld a ruling that foreigners could sue in American
courts for abuses abroad -- but under narrowly defined
legal boundaries. A key question is whether federal courts
will be inclined to hold corporations responsible under
the arcane 18th-century law -- called the Alien Tort Claims
Act -- that was used to take Drummond to court. http://www.washingtonpost.com/wp-dyn/content/article/2007/07/12/AR2007071202192.html |
13th July
Financial Times NO NEW RULES ON CORPORATE RESPONSIBILITY
Pressure to increase the social and environmental obligations
of business will be resisted, according to Stephen Timms,
the new minister for enterprise and small business. His
comments are part of an effort to reassure companies that
the government will remain friendly to them with Gordon
Brown as prime minister. In his first interview since
joining the Department for Business, Enterprise and Regulatory
Reform, Mr Timms said: "There does not need to be
[new regulation]. The strength of the corporate social
responsibility movement is that it is business-led."
http://www.ft.com/cms/s/58f83192-30a0-11dc-9a81-0000779fd2ac.html
|
13th July
Express Computer INDIAN IT INDUSTRY TAKES ON CSR
Faiz Askari looks at the rapid adoption of CSR values
in India's burgeoning IT industry. Managers and CEOs have
been quick to see that CSR is not only helping society
but their businesses too. By giving members of the community
training, skills, techniques and tools to create social
and economic opportunities, CSR programmes can transform
communities and allow business to grow further. This article
looks at CSR strategy, involvement and approaches, showing
how Western IT companies' concerns with waste-management
and supply chains have transformed the Indian industry
and the communities in which they work. http://www.expresscomputeronline.com/20070716/market01.shtml
|
13th July
International Herald Tribune SURVEY FINDS EUROPE AND US
INDIFFERENT TO CLIMATE CHANGE
HSBC has conducted a survey showing that widespread fatalism
and indifference about climate change in Europe and the
US is contrasted by optimism in parts of Asia and Latin
America that the problem can be tackled. The findings
have prompted the bank to consider offering 'green' bank
accounts and loan services in countries like Brazil and
India instead of the UK, as was originally planned. The
results of the survey, which showed more than 40 percent
of Mexicans, Brazilians and Indians made personal efforts
to effect climate change, compared to less than 25% in
Europe, disproved the assumption that the West care more
about climate change than the rest of the world, says
HSBC.
http://www.iht.com/articles/2007/07/12/business/invest.php
|
13th July
CSRChina TOOLKIT FOR CSR IN SALES
Bill Valentino, a prominent practitioner in Asian and
European CSR circles, writes about the 'tools' needed
to be socially responsible in sales. He focuses on the
customer, the sales dialogue and building a trusting relationship
with customers. Ethical sales, improved buyer-seller relationships
and higher skills training in sales, he believes, will
lead to sales being able to become a tool for social change.http://www.chinacsr.com/2007/07/13/1498-mba-toolkit-for-csr-sales-and-corporate-social-responsibility/
|
|
14th July Times CORRUPT MEDIA TYCOON FACES 20 YEARS'
JAIL
Lord Black of Crossharbour, once one of the most powerful
press barons in the world, faces 15-20 years behind
bars after a jury declared him guilty yesterday of looting
the newspaper empire he built. The former Telegraph
chairman was convicted of three counts of fraud and
one charge of obstruction of justice at the climax of
a four-month trial in Chicago. http://www.timesonline.co.uk/tol/news/world/us_and_americas/article2072835.ece
PROFILE: CONRAD BLACK, FALLEN MEDIA BARON http://www.timesonline.co.uk/tol/news/world/us_and_americas/article2071765.ece
|
14th July
Times THAMES WATER UNDER ATTACK OVER EXECUTIVE PAY RISES
Christine Buckley reports that Thames Water bosses have
been attacked over executive pay after the company, which
has been heavily criticised for leakage, paid out large
pay rises and bonuses. The utility last year pushed up
pay by 66 per cent for executives, many of whom left last
October after its takeover by Macquarie, and gave a further
£1 million in incentive schemes. The move was condemned
by London politicians, who said that Thames had imposed
the first hosepipe ban for 15 years during the period.
Thames angered consumers and politicians last year after
losing nearly a third of its water through leakage but
increasing its profits by 31 per cent to £346.5
million. http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article2072721.ece
|
15th July
Sunday Times MINING GIANT TO RAZE APES' FOREST HOME
Documents obtained by The Sunday Times reveal that the
Anglo-Australian group BHP Billiton plans to exploit mining
rights across swathes of Borneo's tropical forests in
southeast Asia. It has lobbied for the protected status
of some of these areas to be lifted so it can clear the
trees and dig for coal. Details of the proposed open cast
mines in the region, known as the Heart of Borneo, have
outraged environmentalists and wildlife experts. The company
promotes its green credentials and supported work to help
save Borneo's orang-utans, shown on Saving Planet Earth,
presented by Sir Richard Attenborough. Less than two miles
from where the orang-utans were released BHP Billiton
has plans for a vast open-cast coal mine that conservation
experts warn will cause huge damage to the island's wildlife
and ecological systems. It is one of seven "forest
mines" the company has secured rights to exploit.
http://www.timesonline.co.uk/tol/news/world/asia/article2076562.ece
|
15th July
Oberver 'INCREDIBLE HYPOCRISY' OF MAIL WEB BETTING SITE
The Daily Mail gambling website failed to offer advice
for vulnerable gamblers and uses young people to promote
games, sparking a volley of criticism from a unique alliance
of church leaders and gaming firms. Just days after the
paper trumpeted its role in killing off the introduction
to Britain of Vegas-style supercasinos as a 'Very Moral
Victory', The Observer has discovered that the paper's
MailBingo.com website, where punters can seemingly sign
up with minimum security checks to play internet poker,
roulette and slot-machine games, failed to adhere to guidelines
set out by GamCare and Responsibility in Gambling Trust,
organisations which offer help and advice to addicts.
http://observer.guardian.co.uk/business/story/0,,2126418,00.html
|
16th
July Business Intelligence BSH REINFORCES ENVIRONMENTAL
COMMITMENT TO MIDDLE EAST
Bosch and Siemens Hausger (BSH), the household and professional
appliance manufacturer, has produced a new Environmental
and Corporate Responsibility Report in which the company
reaffirms its commitment to the environment in the Middle
East. According to the Intergovernmental Panel on Climate
Change, the Middle East's average temperature will rise
by two degrees Celsius by 2030 because of climate change.
BSH's CEO for the Middle East hopes that their new range
of energy saving home appliances, including a fridge that
uses 78 percent less energy, will prove that innovation
can make a real change in the area. http://www.bi-me.com/main.php?id=11669&t=1&c=33&cg=4
|
16th July
Independent ETHICAL INVESTMENT FUNDS NOT ALWAYS AS GREEN
AS THEY APPEAR
Trucost, the environmental research organisation, has
produced a report showing that socially responsible investments
(SRIs) sold in the UK have a higher carbon footprint than
their more mainstream rivals. Simon Thomas, chief executive
of Trucost, said that investors wishing to invest in green
funds should be careful not to assume that a low carbon
footprint is part of the pre-defined investment criteria
of all SRI funds. The study showed that the three greenest
funds were indeed SRI funds - Prudential Ethical Trust,
Axa Ethical and Sovereign Ethical - although other SRIs
also came very near the bottom of the list of 185 funds
surveryed.
http://environment.independent.co.uk/lifestyle/article2773162.ece
|
16th July
CADBURYS HIT WITH £1 MILLION FINE
Cadbury Schweppes, the world's largest confectionery group,
has been fined £1 million by a UK court after pleading
guilty to a total of nine food safety offences, including
not informing the authorities about positive salmonella
tests. The incident that led to the conviction came to
attention of the UK authorities during June 2006 and was
believed to have been caused by a pipe leaking contaminated
liquid at their Marlbrook plant in Herefordshire. After
finding that some of their products had been contaminated,
the company failed to immediately alert authorities about
the possibility that some of its chocolate had been infected
with salmonella. As a result of the incident, 42 people
fell ill, the company spent £30 million recalling
more than one million chocolate bars and spent £20
million to prevent a recurrence of the incident. In addition
to the fine, Cadbury Schweppes were ordered to pay costs
of more than £152,000 and their shares edged down
by US$0.40 to US$53.37 in late session trading on the
New York Stock Exchange.
http://business.guardian.co.uk/story/0,,2127678,00.html
|
16th July
Independent A CARBON-LITE LIFE IS A HAPPIER LIFE, SAYS
ECONOMIC THINK-TANK
The New Economic Foundation (NEF) has produced research
that shows that having a large carbon footprint is not
a passport to happiness. The (un)Happy Planet Index analysed
relative levels of carbon use in 30 European countries
in relation to the physical and emotional well-being of
their citizens since the 1960s. The UK did particularly
badly, with a 50 percent increase in carbon emissions
leading to a six percent drop in average life satisfaction
since 1961. NEF claims that the report disproves the idea
that reducing carbon emissions will lead to a drop in
quality of life. http://environment.independent.co.uk/lifestyle/article2773161.ece |
| 16th July
Guardian ASDA, PRIMARK AND TESCO ACCUSED OVER CLOTHING
FACTORIES Britain's cheapest clothes retailers have come
under attack for the way workers are treated in their
supply chains. Asda, Primark and Tesco have been targeted
for having particularly poor standards in their Bangladeshi
factories, even though all three are signed up to the
Ethical Trade Initiative. John Hilary, the campaigns and
policy director at War on Want, said: 'Price wars between
Asda, Tesco and Primark have driven the price of high
street clothing down 50 percent.' He added that relentless
pressure on suppliers to keep costs down, coupled with
powerful retailers that will also travel to China, have
had a negative effect on Bangladeshi working practices.
While Asda have commissioned audits in their factories,
Primark have commented that labour standards are of 'considerable
concern'. Tesco have declined to act until they have been
informed which factories have come under scrutiny. http://business.guardian.co.uk/retail/story/0,,2127244,00.html
|
16th July
China Daily MAN GETS DEATH FOR KILN SLAVERY
Following investigations into allegations of "slave-like
exploitation" of adult and child workers in brick
factories, the Chinese authorities have sentenced one
official to death, jailed 28 and devised administrative
punishment for 95 others. However, the authorities also
said that there was no evidence of official corruption.
The investigation came after it was reported that farmers,
teenagers and some children had been forced or lured to
work in brick factories and mines in the northern province
of Shanxi. According to China Daily, the man sentenced
to death, Zhao Yanbing, was a supervisor at one factory
and was found guilty of manslaughter after "accidentally
killing a worker". Zhao had previously admitted to
beating a mentally handicapped man to death for not working
fast enough in November 2007. The 28 who were jailed included
owners, managers and other associates linked to the factories
in the northern province of Shanxi. They were all convicted
of charges including forced labour and illegal detention,
and recived a variety of jail terms, including life. The
investigations also resulted in the punishment of 95 low-ranking
officials from eight counties in the Shanxi cities of
Linfen and Yuncheng and the sacking of the head of Hongtong
County. Six other Hingtong officials were still being
questioned and the possibility of criminal charges against
them had not been ruled out. Yang Senlin, a top discipline
official with the Communist Party's Shanxi province office,
said that "Other than the direct responsibility of
the (owners), the 'black brick kilns' incident happened
mainly because of lax supervision and dereliction of duty
of grassroots party and government officials." Yang
also said that investigators had found no evidence of
official corruption that many Chinese media reports alleged.
http://www.chinadaily.com.cn/china/2007-07/17/content_5438028.htm
|
|
... continued below
|
17th July
Independent PEERS FACE INQUIRY OVER SECURITY PASSES GIVEN
TO LOBBYISTS
The House of Lords faces embarrassment today after the
disclosure that several peers had given parliamentary
security passes intended for staff to lobbying firms and
pressure groups that pay them for the privileged access.
The Times today names four Labour peers that it claimed
benefited financially from the lack of control over who
receives the passes, which provide full access to the
Palace of Westminster. They were Lord Mackenzie of Framwellgate,
Lord Hogg of Cumbernauld, Lord Howie of Troon and Lord
Berkeley. It is unclear if any other peers are involved.
The Lords privileges committee has already ordered an
investigation into the holders of all passes in the Upper
House amid concerns over the lack of control over their
distribution. Last night a senior lobbyist told The Independent
it was "standard practice" to pay peers for
loose agreements such as occasional room-bookings in Parliament.
"We've got a couple of peers on the payroll",
said the source. http://news.independent.co.uk/uk/politics/article2776202.ece
|
17th July
Jakarta Post BUSINESS WANT CSR DROPPED FROM BILL ON CORPORATIONS
Business leaders in Indonesia have joined together in
protest against government plans to impose obligatory
CSR standards for the region's businesses. Noke Kiroyan,
chairman of Indonesian Business Links (IBL), commented:
"CSR is a voluntary approach that is designed to
benefit all stakeholders. If it's regulated, then it becomes
a mandatory responsibility." Chairman of the Indonesian
Employers Association (IEA), Sofyan Wanandi, was in support,
saying that imposed levels of CSR would only act as another
form of tax for companies, further restricting their ability
to compete with Western counterparts. http://www.thejakartapost.com/detailheadlines.asp?fileid=20070717.A04&irec=3 |
17th July
Independent MIXED SIGNALS FOR OUTSOURCING
Confusing messages emerging about the Indian outsourcing
industry, some of which have suggested that the outsourcing
boom may at the very least have reached a plateau. There
have even been the first hints that the financial benefits
of outsourcing work to booming India may be coming to
an end.
The Silicon Valley search engine company Like.com recently
made the headlines when it announced it was closing its
Indian engineering site and transferring jobs back to
the US. This "reverse outsourcing" was ordered
because wages in Bangalore had simply become too high.
"Bangalore wages have just been growing like crazy,"
the company's chief executive, Munjal Shah, wrote on his
blog. While companies have long been aware that the wage
differential between the US and India for educated, capable
people was reducing, Mr Shah said to compete for the best
staff, he faced having to increase the salary of one of
his Bangalore engineers to 75 per cent of the US level.
Just two years ago the same engineer had been earning
20 per cent of the American salary.http://news.independent.co.uk/business/analysis_and_features/article2776200.ece |
17th July
Guardian MPS WANT UK TO PAY LIVING WAGE TO OVERSEAS STAFF
MPs called for legislation yesterday that would oblige
British retailers to pay their overseas workers a living
wage. Lynne Featherstone, the Liberal Democrat international
development spokeswoman, remarked: 'It's obscene that
customers can earn more through their club card points
than the people who produce the goods they are buying."
Harry Cohen, from the Labour party, criticised the Ethical
Trade Initiative for not working and called for 'government
intervention to put it into the regulatory framework'.
Asda, Primark and Tesco factories were highlighted by
the investigation - though none of these retailers have
publicly announced how they are planning to combat their
supply chain issues. http://business.guardian.co.uk/story/0,,2128229,00.html
|
17th July
Independent MAKRO BECOMES LATEST RETAILER TO HALT SALE
OF 'UNETHICAL' FOIE GRAS
Makro, a cash and carry chain that supplies the catering
industry, has joined a string of other supermarkets in
banning the sale of foie gras in their stores. Sainsbury's,
Tesco, House of Fraser and Marks & Spencer have already
banned the pate. Foie gras is one of the most contentious
foodstuffs for animal welfare because of the way in which
it is made. Animals are forced-fed until their livers
expand to four times the natural size by putting a tube
down their throats. Production of foie gras is banned
in the UK and several other countries including Germany,
Poland and Norway. http://www.independent.co.uk/living/food_and_drink/news/article2776125.ece |
17th July
China Daily STATE-OWNED ENTERPRISES AHEAD IN CSR REPORTING
China Business News has reported that of the 34 Chinese
companies to report on CSR so far this year, 80 percent
have been state-owned enterprises (SOEs). A spokesperson
from the Research Institute of Economics and Technology
has explained that the trend is probably due to the government
support that SOEs enjoy in funds, assets, management and
technology in comparison to independent businesses. Private
companies still tend to see CSR reports as promotional
material that need not be invested in. Trends in reporting
also reveal that Chinese companies tend not to align CSR
and business strategies as Western companies do. http://www.chinadaily.com.cn/bizchina/2007-07/17/content_6000715.htm |
17th July
Guardian THE MIRACLE OF CHEAP FRESH FOOD DEPENDS ON ILLEGALITY
Felicity Lawrence examines the illegal practices plaguing
price-competitive supermarket supply chains. Bomfords
- a major UK supplier to both Tesco and Asda - has just
gone bust following wage increases that swallowed up its
already tight profit margins. The demise of one supplier
sheds a glaring light on the less than perfect practices
upholding British supermarkets. http://business.guardian.co.uk/story/0,,2128230,00.html |
17th July
Financial Times OIL BLAST REPORT CALLS FOR SAFETY RETHINK
A government commissioned report has recommended that
operators of potentially hazardous plants such as chemical
works and oil-storage sites should be forced to spend
millions on safety measures to guard against accidents.
The investigative team was set up by the Health and Safety
Executive team following the explosion at Hemel Hempstead's
Buncefield oil products storage site in December 2005.
The HSE report recommends that operators plan for almost
unimaginable accidents that could occur, while local authorities
should also assess and prepare for which sites in the
jurisdiction would be prone to such accidents. http://www.ft.com/cms/s/ffc0d7c0-33cc-11dc-9887-0000779fd2ac.html
|
18th July
Guardian FRESH TAKE ON RESPONSIBILITY
The Co-Operative Group is marking the 15th anniversary
of its ethical business policy with a new five-point agenda
of social goals that vary from reducing crime and to issues
of social exclusion. The Guardian takes a close look at
one of the CSR industry's pioneering companies and asks
where it thinks CSR is heading and what that means for
their company. Simon Williams, director of corporate affairs
at the Co-op Group insists that the new social goals are
not about trying to re-invent CSR, but more about looking
at what is possible and 'tackling a lot of problems in
a joined-up way'. http://society.guardian.co.uk/societyguardian/story/0,,2128320,00.html |
18th July
icWales COMPANY HISTORY SHOULD BE PART OF CSR IMAGE
The Economic and Social Research Council has produced
a report showing that the tendency of UK businesses to
underplay company history in comparison to their US counterparts,
could be losing them business benefits. Professor Michael
Rowlinson of Queen Mary College, University of London
said: 'Companies who actively remind us of their history,
their heritage and hence their corporate identity, may
be helping to strengthen consumers' views of their longevity
and trustworthiness.' He added that those pursuing a corporate
social responsibility agenda in terms of ethical practices
should be more forward about company roots.
http://icwales.icnetwork.co.uk/0300business/0100news/tm_headline=it-pays-to-take-your-company-history-seriously&method=full&objectid=19469856&siteid=50082-name_page.html |
19th July
Voice of America DOING BUSINESS WHILE DOING GOOD
This article questions whether corporate citizenship and
responsibility really transcends economic gain. James
Post from Boston University's School of Management talks
about Wal-Mart, The Body Shop, Ben & Jerry's, Gap,
Whole Foods Markets and others, to assess how integral
their responsible actions are to the rest of their business.
While some put CSR strategy at the centre of their business
policies, others are still only reacting to changes in
consumer spending., http://www.voanews.com/english/NewsAnalysis/2007-07-18-voa4.cfm
|
19th July
Wall Street Journal STORY OF A GREEN CLOTHING MAKER
Indigenous Designs makes all its clothing from natural,
sustainable, fair-trade materials - but this is not the
main marketing strategy. Since production started in 1994,
the mission statement has come second and fashion has
always been first. One commentator from a consumer-research
firm commented: "Companies that lead with green and
ecofriendliness are in very dangerous territory because
they are often not competitive on fashion or function
and ask the consumer to make a compromise." The Wall
Street Journal looks at new ways in which Indigenous Designs
are fighting to stay ahead of others, while keeping true
to their roots. http://online.wsj.com/article/SB118463080460868259-search.html?KEYWORDS=corporate+responsibility&COLLECTION=wsjie/6month |
19th July
Financial Times FOODMAKERS TIGHTEN CODE TO AVOID BAN
Coca-Cola, General Mills, McDonald's and Kraft are among
11 companies that have announced new voluntary controls
on marketing to children. The move comes after fears that
the Federal Trade Commission (FTC) would impose external
restrictions. Kellogg's were the first to impose restrictions
on their own ability to advertise to children, though
it is not expected that today's group of companies will
go as far as the cereal maker did. An FTC study released
earlier this year showed that more than half the ads for
junk food and soft drinks were on during children's programmes.
The percentage of US children who are overweight has more
than doubled since 1980.
http://www.ft.com/cms/s/136884f8-3481-11dc-8c78-0000779fd2ac.html
|
20th July
Independent BANKS PAY £200M TO SETTLE CHARGES CLAIMS
Banks have paid an estimated £200m this year to
customers reclaiming penalty fees, according to research
by Credit Suisse. The Financial Ombudsman Service said
that it received 23,790 bank charge cases between January
1 and July 17 this year. In every case that it has handled
so far, financial institutions have refunded claimants
in full. The legal argument is that bank charges are penalty
fees, for which the financial provider should charge no
more than their costs.
http://news.independent.co.uk/uk/this_britain/article2785457.ece |
20th July
Guardian REPORT CHALLENGES BROWN TO TACKLE CLIMATE CHANGE
AND BIODIVERSITY
Gordon Brown must do much better than Tony Blair if Britain
is to play a leading role in tackling the effects of climate
change, a study of the Labour government's record on environmental
issues has said. New Labour, New Environment? claims that
the environment has been a low-priority for the government,
which it says has failed to heed scientific warnings about
climate change and the loss of biodiversity. The authors
of the report urged Gordon Brown to seize the "unprecedented
window of opportunity" and introduce tough and effective
policies to protect the environment. "If Gordon Brown
is serious about the environment, then he needs to signal
that it is a critical issue for him. A genuinely joined-up
and strategic approach is needed to resolve the twin challenges
of climate change and biodiversity loss," the report
states. The report warns that unless urgent Government-led
action is taken within the next decade the next 30-100
years are likely to see catastrophic impacts on the global
economy and on human health and wellbeing.
http://www.guardian.co.uk/uklatest/story/0,,-6792322,00.html
|
21st July
Times PFIZER FACES FRESH $6.5BN LAWSUIT OVER NIGERIAN
TESTS
Pfizer, the world's biggest pharmaceuticals group, faces
a new $6.5 billion (£3.1 billion) lawsuit from the
Nigerian Government over tests conducted on children more
a decade ago. The case centres around an outbreak of meningitis
in 1996, during which the company tested the antibiotic
Trovan and another drug called ceftriaxone on 200 children
at the Infectious Diseases Hospital (IDH) in the northern
Nigerian state of Kano. Nigerian authorities allege that
Pfizer lied to them about the unapproved drugs used in
the tests, resulting in the deaths of 11 children. Pfizer
insisted that it had conducted the tests with the full
knowledge of the Government. http://business.timesonline.co.uk/tol/business/industry_sectors/health/article2112614.ece
|
22nd July
Sunday Times NORWICH SPURNS CANCER MUM
Norwich Union has refused a claim from a woman with breast
cancer who failed to declare postnatal depression. The
firm claimed it was invalid because she had failed to
declare two bouts of postnatal depression. The depression
had no relation to the cancer, but Norwich Union brushed
that aside, forcing her to return to work part-time to
meet her mortgage payments while she was still ill, although
she is now in remission. Insurers reject thousands of
claims every year for so-called "nondisclosure",
and last week the Law Commission published a highly critical
report that branded the practice a "trap". It
said insurers put the onus on applicants to disclose every
little medical detail, allowing them to reject claims
because of mere oversights even where policyholders have
acted honestly. http://business.timesonline.co.uk/tol/business/money/insurance/article2115823.ece
|
22nd July
Sunday Times LENDERS ACCUSED OF DIRTY TRICKS ON FEES
Banks and building societies were accused last week of
using underhand tactics to dodge a clampdown on excessive
mortgage fees.
The Financial Services Authority, the City watchdog, has
given lenders a deadline of the end of the month to stamp
out extortionate "exit" fees charged when you
switch away from your lender at the end of a deal, or
pay off your mortgage. The fees have leapt by a staggering
350% over the past decade. However, two lenders, Abbey
and Bristol & West, have come under fire for simply
renaming their fees to escape the clampdown and it is
feared others will follow suit.
http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2115798.ece
|
22nd July
Observer MAIL BLOCKS CONTROVERSIAL GAMBLING SITE
Daily Mail publisher Associated Newspapers has blocked
access to its gambling website mailbingo.com after campaigners
raised concerns about the type of games available on the
site. The Observer revealed last week that an unusual
alliance of church leaders and gaming firms had hit out
at the site, which allowed punters to play internet poker,
roulette and slot-machine games that failed to adhere
to guidelines set out by Gamcare and Responsibility in
Gambling Trust, organisations which offer help and advice
to addicts.
Sources at Associated pointed out that although the paper
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