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Corporate Citizenship Briefing 2-11-16

Fund managers who ignore climate risk ‘could face legal action’

Fund managers who ignore climate risk ‘could face legal action’
Pension and investment fund managers who ignore the risks of climate change face the prospect of legal action, according to financial and legal experts. The authors from the Alan Turing Institute in London, ClientEarth and University of Oxford, argue global warming poses a systemic risk to the world economy and could significantly cut the value of investments, so those with fiduciary responsibility have a duty to act to reduce that risk, or be taken to court. An article published in the journal Nature on Wednesday argues that investors will be crucial in ensuring the largely voluntary climate change deal sealed in Paris in December, COP21, is implemented. “Investors will play a major part, either voluntarily or because they will be forced by the courts to meet their legal obligations to manage climate risk,” they argue. (Guardian)

Green procurement offers ‘quick win’ for circular economy

Green procurement offers ‘quick win’ for circular economy
A new report from the All-Party Parliamentary Sustainable Resource Group (APSRG) found procurement departments within Government and businesses now play a pivotal role in resource efficiency as they are the “gatekeepers of purchasing decisions”. “Green procurement is one of the few policy levers that influence all aspects of the circular economy, from product design to innovation in service models and management of post-consumer discards”, the report reads. The APSRG suggests that retail procurement departments could share ‘real-time’ information on supply chain activity with farmers; reducing avoidable waste, mitigating food security challenges by diverting or finding alternative uses for food stocks, and easing price shocks. The report adds that Green Public Procurement, a process whereby public authorities seek to procure goods, services and works with a reduced environmental impact throughout their life cycle, is a “particularly potent policy measure promoting resource efficiency”, since public authorities are such major consumers. (edie)

 

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