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How to stop talking and start taking action on corporate responsibility
Baha Hamadi, World Economic Forum, 21 October 2021Running a business with actions firmly entrenched in a structured corporate responsibility program is a life-long commitment. To truly tackle our evolving social and environmental issues, promises must be backed by actions. We must also engage in transparent conversations that question the integrity of CSR stories, and praise entities that...
csr
McDonald’s pledges to offer more sustainable Happy Meal toys worldwide by the end of 2025
Amelia Lucas, CNBC, 21 September 2021McDonald’s is pledging to offer sustainable Happy Meal toys made with dramatically less plastic by the end of 2025, as a result of children and parents alike asking for more sustainable toys. The fast-food giant said that it has already slashed use of virgin fossil fuel-based plastic in its toys by 30 per cent worldwide since 2018 after...
corporate responsibility
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Your CSR strategy needs to be goal driven, achievable, and authentic
Tabitha Upshaw, Harvard Business Review, 17 September 2021We are in the era of impact investing and big pledges as companies step up to tackle the environmental and social issues of our time. General Motors has vowed to be carbon neutral by 2040, Apple is investing $100 million in its Racial Equity and Justice Initiative, and Target plans for 100 per cent of its owned-brand products to be designed for...
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corporate responsibility
Social responsibility of business: the limit on a good corporation’s good intentions
Bill Conerly, Forbes, 14 August 2021When assessing what businesses can do to be socially responsible, their actions are ultimately minimal. This is true even if corporate leadership is committed to a mission of improving the world. Two constraints limit potential results: return on capital and corporate capabilities. As such, the real social value of business remains in providing...
corporate responsibility
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Target unveils sustainability goals, pledging to keep its products out of landfills and to create net-zero emissions by 2040
Nadine El-Bawab, CNBC, 22 June 2021Target plans to make 100 per cent of its private label products environmentally sustainable by designing items that are more durable, and eliminate waste and encourage reuse by 2040. The retailer also plans to have 100% of the plastic packaging for its brands recyclable, compostable or reusable by 2025. Target also says it is responding to...
corporate responsibility
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Google, Facebook, Amazon, and more urge SEC to mandate regular climate reports
Lauren Feiner, CNBC, 14 June 2021In a letter to the Securities and Exchange Commission (SEC), seven US big tech companies have urged it to regularly disclose climate change-related matters to their shareholders. The group, including Alphabet, Amazon, Autodesk, eBay, Facebook, Intel, and Salesforce, also said that collectively 21 gigawatts of clean energy was purchased with the...
corporate responsibility
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Single, global sustainability standard for companies backed by G7
Huw Jones, Reuters, 08 June 2021Former European Central Bank President Jean-Claude Trichet will head an advisory group on establishing a global board for sustainability-related company disclosures. The new International Sustainability Standards Board (ISSB), due to be unveiled ahead of this November’s COP26 UN climate change conference in Glasgow, will...
socio political environment
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UK banks tested on climate crisis risks
BBC, 08 June 2021The Bank of England has announced it will examine the risks rising temperatures and sea levels could pose for the UK's big banks and insurers. It will put 19 firms through stress tests involving three climate scenarios projected over the next 30 years. The scenarios will be based on average temperature increases and changes in weather patterns....
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corporate responsibility
A tiny, climate-conscious player is creating a giant headache for ExxonMobil
Lorraine Woellert, Politico, 25 May 2021ExxonMobil is being challenged on climate by an upstart investment group. The investor, Engine No. 1, has a US$50 million stake in Exxon Mobil, making it a niche player in the US$253 billion company. Yet, it has rallied enough institutional support to do what decades of environmental and shareholder activism never could: put ExxonMobil...
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NAB’s Port of Newcastle funding tied to green sustainability goals
Ben Millington, ABC News, 04 May 2021National Australia Bank (NAB) has agreed to help finance the world's largest coal export terminal and has linked loans to a new set of social and environmental goals. NAB has stepped in to pull together "sustainability linked" loans to the value of $565 million, with the bank's group executive David Gall saying, this sort of "behaviour-based...
corporate responsibility
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