Day: 18 April 2019

HSBC and Walmart today announced the roll-out of a sustainable supply chain finance programme that pegs a supplier’s financing rate to its sustainability performance.

This global programme allows Walmart’s suppliers who demonstrate progress in Walmart’s Project Gigaton or Sustainability Index Program to apply for improved financing from HSBC based on their sustainability ratings.

Project Gigaton is a Walmart initiative to avoid one billion metric tons (a gigaton) of greenhouse gases from the global value chain by 2030 through supplier commitments. Walmart’s Sustainability Index Program gathers and analyses information across a product’s life cycle, and was developed by The Sustainability Consortium (TSC), a global organisation dedicated to improving the sustainability of consumer products, to help Walmart benchmark suppliers and encourage continuous improvement.

HSBC believes that supply chains are one of the most important levers for banks and businesses to create a positive effect on the world. According to McKinsey, a typical consumer company’s supply chain creates far more social and environmental costs than its own operations, accounting for more than 80% of greenhouse-gas emissions and more than 90% of the impact on air, land, water, biodiversity, and geological resources.

Being sustainable is seen as very important by businesses around the world. According to the recent HSBC Navigator survey, 81% of global companies say ethical and environmental sustainability is important to them and 83% aspire to be a genuinely ethical or environmentally sustainable company. Also, improving sustainability outcomes is among the top three objectives for making supply chain changes.

 

Following significant growth in the use of Mobile Plant equipment in the UK, a nationwide inspection and testing specialist is warning firms to be vigilant when it comes to achieving compliance.

It comes as the UK Mobile Elevated Working Platform (MEWP) rental market increased by 4% year-on-year, with demand outstripping the rest of Europe by two to one .

Under the Provision and Use of Work Equipment Regulations (PUWER) 1998*, users of work equipment have a responsibility to ensure that the plant or asset is safe to use. Regulations state that regular inspections must be carried out by a competent person and documented. In some cases there are additional regulations to consider, such as the Lifting Operations and Lifting Equipment Regulations (LOLER) 1998*, which covers all work equipment for lifting and lowering loads. According to Bureau Veritas, the rise of MEWP use and potential confusion around responsibility for the equipment could pose a compliance risk.

Shaezar Karim, Director for the Statutory Inspection division for Bureau Veritas UK, explains: “The growth in MEWPs has led to inevitable compliance challenges, stemming from contractors hiring assets and being able to transport them around the UK.

“Meeting statutory obligations for mobile plant and equipment can be a logistical nightmare – and that’s if users are even aware of their obligations. Many mistakenly believe it is the sole duty of the hire company to undertake PUWER and LOLER inspections but it is the user who must ensure that thorough examinations and inspections are carried out in line with the regulations.

“Organisations that face difficulties in overcoming the logistical challenges of mobile equipment inspections and therefore meeting their obligations, are at risk of costly fines, so it’s critical they ensure that the location of an asset does not affect their compliance.”

Bureau Veritas has a dedicated Mobile Plant Unit to deliver on-hire inspections; helping clients meet the logistical challenges of meeting statutory obligations for Mobile Elevated Working Platform (MEWP), lifting and crane equipment when hired out to contractors.