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In This Issue
Editor's Note
How to Start a Living Wage Program
Earlier this year, BSR Advisory Services Manager Roger McElrath outlined some of the trickier issues with offering a living wage—beginning with how to define it, who is responsible for ensuring that it is defined, and the role of the company. In that article, McElrath argued that a fundamental part of any company’s CSR efforts should be ensuring that the wage level is adequate to support, at minimum, the purchase of basic necessities.
But how to do that? This week, McElrath offers a living wage implementation plan covering the definition, methodology, scope, how to ensure buy-in, and remediation protocols, and he shows how one company, Novartis Corporation, is accomplishing this.
Next, we look at a new report based on an investigation of 30 oil, gas, and mining companies that explores how the extractives industry can manage their impacts and dependencies on biodiversity and ecosystem services.
And we offer highlights of the BSR Conference 2011 sessions devoted to climate and energy issues—from policy to Scope 3 emissions accounting to the future mix of energy sources.
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In Depth
Implementing a Living Wage Program
By Roger McElrath, Manager, Advisory Services, BSR
Earlier this year, we looked at why living wage is so complex: In particular, we explored what constitutes a living wage, who is responsible for ensuring that it is defined, and the role of the company in providing it. Here, we outline a practical approach for companies to design a living wage program.
Read more →
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Spotlight
Climate and Energy Highlights From the BSR Conference
The BSR Conference 2011 featured several sessions highlighting some key themes and issues that will be important for business in the near future:
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Climate and policy: With the U.S. presidential election less than a year away and policy in the spotlight, former U.S. Vice President Al Gore pointed out that there are four anti-climate lobbyists for every member of Congress.
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Emissions accounting: GHG Protocol Director Pankaj Bhatia introduced the Scope 3 value chain GHG emissions standard, which has already helped businesses make the case for investing in collaborative emissions-reduction efforts with suppliers.
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Solar sustainability: Another session explored what the solar industry can do to achieve its potential as a truly sustainable climate change solution.
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Future of energy: Chevron’s Rhonda Zygocki pointed out that substantial fossil fuels remain in the ground and will be a major part of the energy mix for some time to come, while a session on the Future of Energy in Transportation examined a new BSR initiative that companies can join to make better choices about current energy options.
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Doing business in the Arctic: Bellona Foundation President Frederic Hauge talked about climate-related changes in the Arctic, and what growing business activity there says about responsible adaptation.
Toolbox
Managing Biodiversity in the Extractives Sector
A new report by the Natural Value Initiative details the potential risks facing the extractives industry as a result of its reliance on natural resources.
The report—conducted on behalf of several investors and based on an investigation of 30 oil, gas, and mining companies—concludes that although companies are working to address biodiversity and ecosystem services, they are not taking a comprehensive approach to managing the issue. According to the report, a comprehensive approach includes conducting risk and opportunity evaluations at the corporate and site levels, developing management and monitoring systems, making strong public commitments, and recognizing the links between social and environmental issues and biodiversity and ecosystem services.
More specifically, this report:
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Explores the extractives sector’s impacts and dependencies on biodiversity and ecosystem services, as well as the implications for investors
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Benchmarks company performance and identifies areas of strength and weakness
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Provides recommendations for improvement and next steps for investors, government, and the industry
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