Business
UNIDO says 80% of World Trade is Supply Chains
The United Nations Industrial Development Organization (UNIDO) has called for a sustainable global supply chain as it now accounts for 80 per cent of world trade.”
Supply chains are essential to trade, and trade is essential to job creation but these supply chains must be sustainable,” said UNIDO.
In the latest document on ‘ Sustainable Supply Chains,’ posted on its website, the organisation noted that an estimated 450 million people are working in global supply chains.
Approximately 190 million of them are women. These jobs, working in the factories, farms and packing houses that supply the world’s clothing, goods and food, offer a promise of economic independence.
But the reality for millions of workers is excessive hours, often in difficult and unsafe working conditions, and wages that are not enough to make ends meet.
The exploitation of people and labour and the exploitation of the environment must not be the basis of our global economy.
We need fair global business practices and this requires companies to check human rights and environmental standards.
Companies must identify, bring to an end, prevent and mitigate negative impacts on human rights and the environment in the company’s operations, those of their subsidiaries and their supply chains.
This includes ensuring that their business strategy is compatible with limiting global warming to 1.5 °C in line with the Paris Agreement.
To save scarce resources, we need to improve sustainable supply chain operations and build a circular economy.”
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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