Latest news with #WorldBusinessCouncilforSustainableDevelopment
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Business Standard
3 days ago
- Business
- Business Standard
India key to global transition efforts, says WBCSD CEO Peter Bakker
The sheer size of the Indian economy, its demographic trends and the country's ambitions around sustainability make it a critical geography for global transition efforts, World Business Council for Sustainable Development (WBCSD) President and CEO Peter Bakker has said. Bakker said "India is a strategic focus for WBCSD," and pointed out the Council's work in areas, particularly transport and food, where the country has both major challenges and significant potential to lead. "We're also encouraged by the direction of policy in India," he told PTI in an email interview, highlighting the government's intent in the 2025 Union Budget to scale up investments in electric vehicles, renewable energy, green infrastructure, and the circular economy. Together, these developments create real momentum for business-led solutions, the Geneva-headquartered WBCSD chief said. "Our members are driving the development of data-driven infrastructure and unlocking innovative finance mechanisms to accelerate the adoption of electric vehicles," underlined Bakker during a recent visit to Singapore. "In today's world, sustainability is a strategic advantage -- and in a market as dynamic as India, those who lead on delivery will define the next era of competitive growth," he said. Further, WBCSD work in electric freight is advancing the E-FAST (Electric Freight Accelerator for Sustainable Transport) initiative, led by NITI Aayog. "Collaborating with industry stakeholders, we've aggregated demand for approximately 7,700 electric freight vehicles by 2030, he said. This collective effort includes partnerships with companies like the Aditya Birla Group, JSW, Amazon, Maersk and others, focusing on pilot deployments and scaling strategies. WBCSD is driving cross-value-chain collaboration particularly around leasing facilities to address the high upfront costs and limited credit access hindering the adoption of zero-emission trucks, especially amongst smaller fleet operators. Moreover, the council members are advancing infrastructure deployment by mapping priority locations that could catalyze investments. These actions are part of a broader effort to build an inclusive, scalable model for clean freight transition, addressing systemic financing and operational barriers through bundled solutions, Bakker said. WBCSD recently launched the Rice Action Alliance, a new business-led platform to accelerate the shift to low-emissions and climate-resilient rice production systems. As one of the world's largest rice producers and exporters, India is central to this initiative. The Alliance is built around three core action areas -- harmonizing technical guidance across low-emissions rice standards relevant to business; promoting supply chain innovation; and building impactful public-private partnerships, Bakker explained. WBCSD is mobilizing members in India to advance efforts in measuring and managing physical risk across value chains, he said. These risks arise from the physical impacts of climate change and nature loss -- such as extreme weather events, water scarcity, and biodiversity decline -- which are already being felt globally and acutely in India. He also shared the long-standing and constructive relationship with CII, particularly through their Centre of Excellence for Sustainable Development, which is the Council's Global Network partner in India. WBCSD has been involved in multiple capacities with CII over the last number of years, starting in 2018. Bakker informed that the CII Summit 2025 will serve as a launch platform for WBCSD's CEO Handbook on Physical Risk, underscoring India's strategic importance.
Business Times
06-05-2025
- Business
- Business Times
Singapore entities will be able to list product carbon data aligned with global methodology
[SINGAPORE] Businesses and organisations in Singapore can now list product carbon footprints based on global standards with the Singapore Emission Factors Registry. The World Business Council for Sustainable Development (WBCSD) and the Singapore Business Federation (SBF) signed a memorandum of understanding on Tuesday (May 6) at Ecosperity Week 2025, enabling any entities in the Republic to list high-quality product carbon footprints of their goods and services based on an updated global methodology. Version 3 of the Partnership for Carbon Transparency (Pact) Methodology and Technical Specifications was recently released by WBCSD after two years of consultations with industry players. Its adoption by the Singapore Emission Factors Registry, the country's single reference point for emission factors, will allow businesses to calculate more precise, complete and comparable product carbon footprints, said the organisations. This partnership represents a milestone in SBF's and WBCSD Pact's shared ambition to leverage supplier-specific data across value chains to accelerate global decarbonisation. Peter Bakker, president and chief executive of WBCSD, said in a press conference during the signing ceremony: 'We need better data for companies to make better decisions, which will lead to better carbon performance.' A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Kok Ping Soon, CEO of SBF, noted that the Singapore Emission Factors Registry, which was announced at Ecosperity 2024, now contains more than 200 emissions factor data from A*Star, Singapore government agencies including the National Environment Agency, and partners such as the Singapore Green Building Council. The registry will then be developed to cover commonly reported areas in Scope 3 emission data, and to list product footprint data with the adoption of the updated methodology to enable any organisation – not just Singapore companies – to list the high-quality product carbon footprints. 'We believe that our partnership with WBCSD will help our businesses and their value chain partners take positive action to accelerate their decarbonisation chain,' said Kok. Gamer lifestyle brand Razer has committed to be the first business to list its products' life cycle assessment and environment product declaration reports in the Pact-aligned registry in Singapore.
Associated Press
17-03-2025
- Business
- Associated Press
Prepare for Plastic Legislation or Face Financial Loss, States New Report From SAP and Earth Action
They say 'good things take time,' but sometimes it's wise to not wait too long and take matters into your own hands. This is especially true when those 'matters' have the power to determine business risks or give you a competitive edge, such as plastic regulation. The world has been waiting for a global plastics treaty since 2022, when representatives from 175 nations agreed on a mandate to create a legally binding instrument to end plastic pollution. While progress has been made during the five rounds of negotiations to date, a final treaty has yet to be agreed. With negotiations set to continue, SAP has collaborated with Earth Action to launch the 'Shift into Gear' report, inciting companies not to wait but to start preparing now to meet global plastics legislation. It's not just a reporting duty Plastics regulation isn't new. It has rapidly spread across the globe like a rising tide, driven by the urgency to reduce our dependence on fossil fuels and curb the plastic waste that is choking both marine and land-based ecosystems. Companies now face the growing tide of extended producer responsibility (EPR) regulations and pay plastic taxes in certain jurisdictions. Globally, the corporate liabilities linked to plastic usage are projected to exceed US$20 billion by 2030. In this shifting landscape, SAP and Earth Action argue that plastic and data management are no longer reporting duties only, but fundamental business imperatives. Companies that fail to navigate these waters may find themselves sinking under the weight of financial liabilities, whereas those that prepare, comply with regulations, and leverage digital solutions will ride the wave, standing to gain a competitive advantage. Disparate EPR regulations make compliance onerous and expensive Originally designed to fund waste management, EPR regulations are now focused on the eco-design and recyclability of items. Complications for corporations arise from the variety of different EPR regulations across different territories. The report describes how one consumer goods company operating in over 180 countries can face a minefield of 30 to 50 different EPR policies, which could cost in the region of 0.5%-1% of final product revenue. For multinational corporations, this can add up to millions of euros of risk—or opportunity. Avoidance isn't a viable option. Non-compliance comes with significant financial risks including fines, litigation, and potential clean-up costs. Reputational risk linked to consumer protection violations, false advertising, and environmental damage is also a factor that could result in revenue loss and a decline in investor confidence. SAP joins forces to lobby for standardization SAP is working with the World Business Council for Sustainable Development (WBCSD) and the Ellen MacArthur Foundation, calling for industry alignment on packaging data. Together, we are pioneering a project to enable standardized data to be exchanged throughout supply chains. This can allow businesses to access and analyze materials from a variety of suppliers to empower the design of more sustainable and recyclable packaging, which can minimize waste and reduce EPR fees and plastic taxes. SAP's position SAP continues to be active in treaty negotiations and is calling for four key elements within the treaty: Negotiations to finalize the global plastics treaty are expected to resume with delegates due to convene for INC 5.2 in 2025. Companies should not delay The report is clear. Companies must not wait for a finalized treaty before taking action. With a myriad of national and regional regulations already in existence, including the EU's Packaging and Packaging Waste Regulation (PPWR) and the Corporate Sustainability Reporting Directive (CSRD), there is already work to do. Delaying compliance may leave companies lagging behind and unable to meet existing and upcoming regulations, leading to the financial and reputational risks already mentioned. Under the PPWR, for example, the penalties for non-compliance are not just theoretical—they are a looming reality. Each EU member state can impose sanctions that are effective, proportionate, and dissuasive, ranging from hefty fines to sales bans or mandatory product recalls because of non-compliant packaging. In other words, the clock is ticking and the consequences of inaction could hit harder than anticipated. Early adopters stand to benefit from their experience and will be better prepared for the shifting regulatory field when the treaty enters into force. By proactively implementing robust data management solutions and streamlining their reporting processes, they can start to make gains in terms of circularity and sustainability. In doing so, they will obtain an unprecedented view of their plastic material flows, allowing them to unlock efficiencies and reduce risk. Data management is critical Contrary to an often referred to argument put forward by treaty detractors, the data organizations require for compliance does exist and can be found within existing enterprise systems. Companies should look to their enterprise resource planning (ERP) systems and financial reporting platforms. These are treasure troves, filled with procurement records, supplier data, and waste management information—key assets for reporting purposes. Businesses should also coordinate with their suppliers and customers with a view to data sharing for resource optimization and to scale efficiencies. Data management systems like SAP Responsible Design and Production help companies collect and use data by aggregating it from third-party systems. It can not only allow sustainability managers to accurately calculate fees and taxes but can give them a lifecycle view of indirect taxation costs and, by considering downstream recyclability and recycled content, the environmental impact of design choices. The solution can also allow users to experiment with switching materials, products, and altering supply chains, providing them with the information they need for agile decision-making. Prepare for an ambitious treaty Corporations must invest in their enterprise systems to leverage data and collaborate with their supply chain to meet upcoming legislation and avoid risks and penalties of non-compliance. The sooner they start, the better their competitive advantage. By utilizing data management systems to collect robust data and collaborate with supply chains, they will be equipped to thrive in the era of plastic regulation, limiting their costs, achieving sustainability targets, and complying with evolving regulations.
CNN
14-03-2025
- Business
- CNN
This Rwandan entrepreneur turns discarded tires into fashionable footwear
Every year, about one billion tires around the world reach the end of their life according to the World Business Council for Sustainable Development. Many of them end up piled in landfills posing potential health and environmental risks. In Africa, one Rwandan entrepreneur has found a way to upcycle the rubber to create fashionable footwear. While studying creative design at the University of Rwanda, Kevine Kagirimpundu felt she had limited employment options, so she took matters into her own hands. She began researching how to make her own products and stumbled upon the idea of using old tires for shoe soles. In 2013, she and her friend Ysolde Shimwe officially launched Uzuri K&Y, a name incorporating the founders' initials and a Swahili word meaning beauty and goodness. The eco-friendly shoe brand offers a range of handcrafted sandals for men, women and children. 'We wanted to be different but also be part of the problem-solving process because Rwanda at the time was banning plastic bags, which was such a huge inspiration for us. So, we thought how do we play a part in that and how do we contribute?' Kagirimpundu said. 'We thought this creates something that would become a source of income for ourselves but also for other young people like us.' In 2008, the government banned the manufacturing, importation and use of plastic polyethylene bags, and took a step further in 2019 by prohibiting single-use plastics, like straws, bottles, and containers. As CEO and managing director, Kagirimpundu says the brand's mission aligns with Rwanda's efforts to cut back on waste. The company buys tires from local landfills and makes the sandals in its Kigali production facility. When running at full capacity, Kagirimpundu says it can produce more than 4,500 pairs of sandals a month, which it sells online and in several stores across Rwanda and Nairobi, Kenya. A report from the Rwanda Environment Management Authority found the country discarded more than 5,000 tons of tires in 2022. Kagirimpundu said to date Uzuri K&Y has removed 10 metric tons of rubber from landfills in Rwanda. Still, the CEO believes the company's human impact is just as important as the environmental aspect: 'We had to create a business that actually became a source of employment for women,' she said. Reflecting on the company's humble beginnings, Kagirimpundu said one of the biggest challenges was a lack of skilled labor. 'Nobody knew how to make shoes,' she said, so she decided to set up a training program to teach locals the skills they need to become artisans and entrepreneurs. Kagirimpundu says 1,500 young people have gone through the program, about 70% of them women. She added that it's 'priceless' to give a woman a steady income when Rwanda has an unemployment rate of 13%, 14.5% for women. 'It's the whole collective of women working together to create something big, something important,' she said.
CNN
14-03-2025
- Business
- CNN
This Rwandan entrepreneur turns discarded tires into fashionable footwear
Every year, about one billion tires around the world reach the end of their life according to the World Business Council for Sustainable Development. Many of them end up piled in landfills posing potential health and environmental risks. In Africa, one Rwandan entrepreneur has found a way to upcycle the rubber to create fashionable footwear. While studying creative design at the University of Rwanda, Kevine Kagirimpundu felt she had limited employment options, so she took matters into her own hands. She began researching how to make her own products and stumbled upon the idea of using old tires for shoe soles. In 2013, she and her friend Ysolde Shimwe officially launched Uzuri K&Y, a name incorporating the founders' initials and a Swahili word meaning beauty and goodness. The eco-friendly shoe brand offers a range of handcrafted sandals for men, women and children. 'We wanted to be different but also be part of the problem-solving process because Rwanda at the time was banning plastic bags, which was such a huge inspiration for us. So, we thought how do we play a part in that and how do we contribute?' Kagirimpundu said. 'We thought this creates something that would become a source of income for ourselves but also for other young people like us.' In 2008, the government banned the manufacturing, importation and use of plastic polyethylene bags, and took a step further in 2019 by prohibiting single-use plastics, like straws, bottles, and containers. As CEO and managing director, Kagirimpundu says the brand's mission aligns with Rwanda's efforts to cut back on waste. The company buys tires from local landfills and makes the sandals in its Kigali production facility. When running at full capacity, Kagirimpundu says it can produce more than 4,500 pairs of sandals a month, which it sells online and in several stores across Rwanda and Nairobi, Kenya. A report from the Rwanda Environment Management Authority found the country discarded more than 5,000 tons of tires in 2022. Kagirimpundu said to date Uzuri K&Y has removed 10 metric tons of rubber from landfills in Rwanda. Still, the CEO believes the company's human impact is just as important as the environmental aspect: 'We had to create a business that actually became a source of employment for women,' she said. Reflecting on the company's humble beginnings, Kagirimpundu said one of the biggest challenges was a lack of skilled labor. 'Nobody knew how to make shoes,' she said, so she decided to set up a training program to teach locals the skills they need to become artisans and entrepreneurs. Kagirimpundu says 1,500 young people have gone through the program, about 70% of them women. She added that it's 'priceless' to give a woman a steady income when Rwanda has an unemployment rate of 13%, 14.5% for women. 'It's the whole collective of women working together to create something big, something important,' she said.
