WPP makes net zero pledge for entire $60bn supply chain April 22, 2021 WPP has pledged to reach net zero carbon emissions across its entire supply chain by the end of the decade in what it said was the most ambitious approach in the ad industry. The holding group said its own operations will be net zero by 2025, with all electricity to be renewably-sourced. Across its supply [...]
JP Morgan sustainability rating downgraded after funding Super League April 21, 2021 Sustainability ratings company Standard Ethics has downgraded JP Morgan’s rating after it was revealed to have funded the failed and controversial European Super League. Standard Ethics said it judged JP Morgan’s involvement in the project to be “contrary to sustainability best practices”, and as a result downgraded its corporate rating from “adequate” to “non-compliant”. The [...]
DEBATE: Should the government introduce legislation to ensure business is a force for good? April 21, 2021 Martin Bunch, Managing Partner at Bates Wells says Yes The Companies Act as it stands doesn’t get in the way of good corporate practice, but neither does it actively encourage corporations to embrace their responsibilities to wider society and the planet. The Better Business Act aims to amend the Companies Act and embed commitment to [...]
City Moves: Who is switching jobs in the Square Mile this week? April 21, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. In this week’s City Moves, we have a host of newly created roles making their way across the Square Mile. From chief data officers to directors of environment social and governance – the [...]
Audit sector ‘failing society and needs reform’ warns think tank April 21, 2021 The UK’s audit sector is “failing society” by coming up short when assessing firms’ finances and governance, leaving the door open to costly, Carillion-style business collapses, according to think tank IPPR. The think tank said there is an “expectation gap” between what audit currently assesses and what it needs to assess to fulfil the [...]
Cabinet ministers back Tory push against Sunak for lower taxes post-Covid April 21, 2021 Some of Boris Johnson’s highest profile cabinet members are among 46 Tory MPs that today backed a new campaign group aiming to push Rishi Sunak to adopt a more low-tax agenda post-Covid. The Free Market Forum, run by the Institute of Economic Affairs think tank, will look to “refocus the political debate” toward “free enterprise [...]
European Super League: Boris Johnson says ‘no action off the table’ April 20, 2021 Prime Minister Boris Johnson has told football officials that “no action is off the table” as the government looks to block the formation of the new European Super League. During a meeting with the Football Association, the Premier League and football fan groups this morning Johnson pledged his “unwavering support”. He also expressed solidarity with [...]
Netflix lookahead: What to expect from the streaming giant’s earnings April 20, 2021 Netflix is leading the charge in a busy schedule of US earnings today, reporting first-quarter figures after the bell. The Silicon Valley streaming giant, which now has more than 200m subscribers, has cashed in on higher demand for at-home entertainment during the pandemic. With most lockdown measures still in place in the first three months [...]
The hidden impact of Brexit: Supply chains are failing UK trade and construction firms April 20, 2021 Since the reopening of the construction sector in the summer of 2020, confidence has been sky high, with last month’s the highest on record since 2014. According to figures from IHS Markit/CIPS, the growth of output had grown in line with increased commercial, domestic and civil engineering projects. These works have largely come in the form of restarting delayed projects, critically [...]
European Super League: Boris Johnson to meet officials amid football row April 20, 2021 Prime Minister Boris Johnson will today host a meeting of football officials and fan representatives to discuss England’s response to the planned European Super League. Furious fans held demonstrations yesterday following the announcement that the Premier League’s six biggest clubs will join the new breakaway competition. The plans have also sparked a backlash among rival [...]