Tag Archives: fracking

This week’s media picks: infrastructure, Bangladesh safety, fracking, climate change, bioscience

FT (23/4/14): Leading article: Time to invest in Britain’s future

As the Prime Minister, David Cameron, and Chancellor, George Osborne, welcomed £36 billion investment in infrastructure projects, the Financial Times, remained to be impressed. In a leader, it said that one of the biggest and most persistent questions facing the UK economy is the worryingly low level of investment in infrastructure. Despite fine words, the government’s record is decidedly mixed, and the new set of initiatives may not match the scale needed to raise infrastructure spending to the level required. The FT outlines three areas of weakness in policy: 1) Spending is not high enough, and is persistently less than many of our competitors; 2) Given low interest rates, the government should borrow more to finance big projects; and 3) the government needs to establish a more stable and clearer framework for private sector investment.

Fibre2Fashion (24/4/14) Bangladesh Safety Accord on course, says UNI official

A year after the tragic collapse of the Rana Plaza factory building in Bangladesh, a demonstration of corporate social responsibility in action, rather than just words, is making progress towards improving the safety, prospects and lives of the country’s garment workers. Despite the many barriers to progress imposed by the political, social and commercial cultures of Bangladesh, the Accord on Fire and Building Safety in Bangladesh can be proud of its progress when it marks its own one year anniversary next month.

An official from, UNI Global, one of the two global union bodies that negotiated the Bangladesh Accord, Alke Boessiger, said: “The inspection program is in full operation. There is a strong team of more than more than 100 technical experts and engineers in Bangladesh who are conducting 45 inspections per week, with the aim to inspect 1500 factories by October.  More than 280 factories have been inspected for fire and electrical issues and 240 for structural safety.  Every inspection has revealed critical issues which must be repaired as a condition of doing business with signatory brands in the future. These issues include, for example, the absence of fire doors to separate the work area from the fire exit.  Brands are responsible to ensure that sufficient financial resources are available for the renovations and improvements.”

FT (24/4/14): Shale gas a multi-billion-pound opportunity for UK business

A report by EY, commissioned by the UKOOG, the shale-gas trade body, said that fracking shale gas could potentially generate 64,000 jobs in the oil and gas supply chain. It said that over the next 15 years, the UK would need to invest £17 billion on specialised fracking equipment and skills. This won’t mollify fracking’s opponents, but does at least show that the industry is seeking to make a positive, factually-based case for its development.

The Guardian (25/4/14): Kingfisher CEO warns on underestimating impact of climate change on business

In an opinion piece, Kingfisher plc CEO, Ian Cheshire urged business to sign a communiqué aimed at policymakers gathering in Paris next year for the UN Climate Change Conference. He warned that resource scarcity, energy price increases and extreme weather are real and growing threats to the long-term viability of business. That’s why hesigned the Trillion Tonne Communique, drawn up by the Prince of Wales’ Corporate Leaders Group, and is encouraging other business leaders to do so too. Adverse climate events are increasing costs for business, Kingfisher’s alone, were tens of millions of pounds, and as business doesn’t have a seat at the table, it needs more of them to sign the Trillion Tonne Communique to ensure that its voice is heard. 103 businesses world wide have signed so far, but it will require quite a few more to overcome the political resistance that clearly exists in some quarters.

FT (25/4/14): UK medical science drive shaken by US takeover fears

News that AstraZeneca was approached by Pfizer about a £60 billion takeover, has called into question the UK’s ambition to remain a leading global player in life sciences. AstraZeneca and GlaxoSmithKline are the only large companies with research and development operations in the UK. Oxford University’s Professor John Bell said: “If we were to lose one of them it would be a real blow to our capabilities. It’s a sector that is crucial to our future economic success. The news prompted Andrew Miller MP, Chairman of the House of Commons science committee to call for tougher standards to protect strategic UK assets, such as considering the national interest when looking at takeovers. Steve Bates, chief executive of the UK Bioindustry Association, pointed to successful smaller biotech companies, but said: “It is important to have whales in the ecosystems around which minnows can flourish.”

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This week’s media

It’s been  a short week, but here are a few articles worth reading if you missed them:

FT:Labour urged to court business

Former Labour Cabinet minster, Alan Milburn, has risked stoking tensions between New Labour-ites and Milibandists, by calling on the party to “embrace an avowedly pro-business agenda.” In a Financial Times article, he says that there are encouraging signs that the Labour leadership is trying to rebuild bridges with business, but they need to go “further and faster”. Ideas he suggests include supporting a Heathrow third runway, HS2, being tough on public expenditure, while using public funding to support high-tech innovation. A Labour insider, dismissing Milburn, said: “We’re not going to get into a game with the Tories where they get a load of business people to write a letter to The Times and we try to match it.”

The Times:Shale gas can help to prevent global warming

A report by the United Nations’Intergovernmental Panel on Climate Change (IPCC), says that shale gas can help the world avoid climate change, but only if it displaced coal. IPCC report co-chairman, Professor Ottmar Edenhofer said: “The shale gas revolution…can be very consistent with low-carbon development…Gas can be very helpful as a bridge technology.” However, as regards the UK, IPPC report member, UCL Professor Jim Skea said that exploiting the UK’s shale gas reserves would not reduce its emissions, as it would simply displace imported gas.

The Guardian:The shirt on your back: the human cost of the Bangladeshi garment industry

One year on from the Rana Plaza disaster, which killed more than 1,130 people, The Guardian traces, in video, words and pictures, the life cycle of cheap garments from Dhaka to the West. The video illustrates, for the duration of your progress through the feature, how much a worker will have earned and how much the industry will have sold in the UK – take a guess before you start. Although the Bangladesh Accord is not mentioned, workers, trade unions, clothing companies and NGOs are now looking to it to make a difference.