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In This Issue
Editor's Note
The Path to Cleaner Cargo
For years, the container shipping industry has sailed under the sustainability radar. The sector transports more than a third of the value of global trade and, while it is ultimately the cleanest mode of transportation, it poses significant environmental threats to land and water through ballast water and carbon-dioxide, particulate matter, sulfur, nitrogen-oxide, and black carbon emissions.
Now, the industry faces increasing stakeholder awareness and possible regulation that will impact carriers and their customers—and could ultimately mean a more sustainable future. BSR's Peder Michael Pruzan-Jorgensen, Managing Director, EMEA, explores the path to cleaner shipping for the industry and its customers.
Following a meeting of energy companies in Paris, we share recommendations on how that industry can develop strategic "local content" plans to procure local rather than imported materials, goods, and services.
And finally, human rights specialist Nicki Weston shares highlights from the latest report by John Ruggie, the UN special representative on business and human rights.
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In Depth
On the Horizon: The Shipping Industry’s Choppy Waters
Until recently, carriers and their customers have enjoyed cheap transport and a booming global trade with little attention to environmental impacts beyond carbon emissions. But with a perfect storm of rising stakeholder awareness and increasing legislative pressure on the horizon, the industry and its customers may be in for a bumpy ride—which could lead to a cleaner industry.
Read more →
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Spotlight
Building Effective Local Content Programs in the Extractives Industry
At a recent event in Paris, BSR brought global oil and gas companies and industry service providers together to share emerging best practices in the management of "local content"—the procurement of materials, goods, and services made in-country rather than imported. Local content is one of the most important contributions the extractives industry can make to economic development and to maintaining a secure social operating license.
The workshop focused on local content design and execution challenges as well as opportunities for cost reduction and quality assurance. Recommendations included:
- Integrating local content into project design and management systems and improving alignment across corporate functions
- Maintaining a consistent focus across life-cycle transitions (e.g. from development to operations)
- Facilitating "deeper" supply chain participation by service providers in support of sustainable and competitive local enterprises
Companies also discussed successful outcomes that resulted from early engagement, focus, and alignment; robust systems and tools; and strong information flows among project stakeholders.
For more information on local content projects and related initiatives, contact Michael Hackenbruch.
Toolbox
Update on the UN ‘Protect, Respect, and Remedy’ Framework
Nikki Weston
UN Special Representative on Business and Human Rights John Ruggie's latest report highlights several ways that governments can prevent human rights abuses involving business. One recommendation in particular focuses on the role of government in fostering a company culture that respects human rights. Three of his suggested policy tools include:
- States should encourage or require companies to report on their human rights policies and impacts. This would allow shareowners and others to better assess risk and performance, and would encourage companies to integrate human rights considerations throughout their business practices.
- Financial regulators should consider the materiality of a company's human rights impacts and whether these impacts should be included in a company's financial reporting requirements.
- Directors' duties for human rights should be clear and specific. States should provide guidance on what the board of directors is required and permitted to do when trying to promote respect for human rights within their companies.
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