Successful engagement with customers, employees and suppliers is one of the key areas we assessed in our 2017 report on the Sustainability Reporting Performance of Europe’s largest companies. Engagement schemes can bring about huge business benefits, including supply chain efficiency, improved customer loyalty and increased employee satisfaction.
The announcement today that the UK is likely to ratify the Paris climate deal this year means that we need to think about how those targets become national policies, and the role that businesses must take in reducing carbon emissions and managing their environmental impacts.
With that in mind, we are excited to be launching our 2016 Sustainability Reporting Performance of the FTSE 100 research on 29th September.
The earth’s fossil fuel reserves are not going to run out any time soon. As technology develops, our capacity to discover and extract such reserves are only going to increase. Humanity will not stop burning fossil fuels because they have run out, as hypothesised in theories such as “peak oil”. To quote Dieter Helm “there is enough oil, coal and gas to fry the planet many times over...there is no imminent resource crunch around the corner”. Fossil fuel reserves must, therefore, be left unused by choice. This is a decision that must be made and implemented at all levels – by governments, by organisations and by individuals.
As a society, we are collectively depleting our natural capital at a rate of 50% more per year than the earth can replenish. At this rate, if depletion continues to accelerate, it is absolutely vital that measures are taken to preserve and enhance natural capital.
The extent to which depletion of natural capital is a material risk to businesses is increasingly realised. As a result, numerous voluntary frameworks, guidelines and tools have emerged to support organisations in measuring, calculating and reporting their natural capital impacts and dependencies.
The Chancellor of the Exchequer, George Osborne, today delivered the 2016 Budget.
Amongst the announcements made, Osborne stated that businesses find the CRC energy efficiency scheme a burden and for this reason he will scrap the scheme and, in parallel, he will raise rates on the Climate Change Levy (CCL) from 2019.