1. Ahold Delhaize significantly tightens its climate targets
Ahold Delhaize, mother of, among others, Albert Heijn, Bol.com and Etos, is tightening its climate targets. The AEX company wants its ‘indirect’ CO₂ emissions to be 37 percent lower in 2030 than in 2020. Ahold Delhaize’s indirect emissions are released by suppliers and customers and make up 95 percent of its total emissions.
The target is significantly higher than the previous one: a 15 percent decrease compared to 2018. Ahold Delhaize is therefore in contact with hundreds of suppliers and farmers about the emissions of their products. It also has consequences for the assortment in stores such as Albert Heijn. Groceries that put a heavy burden on the environment, such as meat and dairy products, will more often make room for e.g. plant-based products.
Albert Heijn announced ambitious climate targets earlier this month. For example, the supermarket chain wants customers to get 60 percent of their proteins from plant-based foods by 2030.
Also read: Marit van Egmond (CEO Albert Heijn): ‘A vision must be easy to explain’
2. OM starts probe into Tata Steel
On Tuesday, the prosecution carried out an investigation in the Tata Steel business park in IJmuiden. The investigation is part of an ongoing criminal investigation. The State Agency announces this on its website. The prosecution wants to know whether Tata Steel ‘intentionally and unlawfully introduced harmful substances into the soil, air or surface water or caused them to be introduced with a possible risk to public health’. Already in February, the prosecution announced that it would open a criminal investigation into the working methods of Tata Steel and Harsco Metals, a company that processes residual products from the steel producer at the site in IJmuiden. More than 1,100 people and companies have lodged a complaint against the steel company with the Public Prosecutor’s Office.
3. Ambitious Avion bankruptcy
The Dutch builder of flight simulators Avion from Nieuw Vennep wanted to conquer the world with the Phantom 320. Despite government support and millions from investors, the company was granted a payment deferment last week and subsequently went bankrupt. Avion was founded in 2015 and a year later succeeded in acquiring the technology company VDL and investor 5Square as suppliers of knowledge and capital. With this, the company developed the Phantom 320, a simulator that simulates a flight with the Airbus 320 down to the smallest detail. Pilots are trained with such simulators. Avion not only provides the simulator, but conducts training programs.
4. Four out of ten CEOs of AEX companies are non-Dutch
38 percent of the chairmen of listed Dutch companies were not born in the Netherlands. And of the 25 CEOs of Dutch listed companies, only eight percent are women. This is evident from Route to the Top 2022, an annual analysis by Heidrick & Struggles, which maps the characteristics of 1,169 CEOs in 25 countries. With a 38 percent non-native representation at CEO level, the Netherlands scores higher than the global average (26 percent). In terms of women, the Netherlands still scores relatively low, especially when compared to countries such as the United States (twelve percent), Norway (twenty percent) and Singapore (thirteen percent). Neighboring countries Germany (four percent) and Belgium (five percent), however, lose to the Netherlands.
Also read: Next Leadership50: it’s tomorrow’s CEOs
5. Lending money to companies will become significantly more expensive in 2023
It will be significantly more expensive for companies to borrow money next year. According to the analysis department of the credit insurance company Allianz Trade, the tightening of the money market is comparable to the levels we saw around the early stages of the Covid-19 crisis in 2020. In percentage terms, the insurance company expects an average rate increase for companies of +200 basis points (bp) in the first half of the year by 2023. And then another +200 bp in the second half of the year. ‘This means significantly higher costs for the companies, which puts further pressure on the margins,’ warns Allianz.
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6. Must read: What you need to know about the digital euro
In the Netherlands we have symbolic money (cash), book money (in the bank) and soon maybe also digital money, also known as the digital euro. In professional circles, this digital money is called Central Bank Digital Currency, and the vast majority of Dutch people don’t even know what it is. Now that cash is being used less and less, the central bank wants people to continue to have access to risk-free money with which they can also pay digitally without the intervention of a bank. Hence the name Central Bank Digital Currency (CBDC). That is why FD has listed the most important questions.
7. By the coffee machine: Half of green remedies are anything but green
Around half of Europe’s ‘dark green funds’ – that must pursue an explicit social or environmental goal and must not harm the climate – also invests in aviation and the fossil fuel industry, discovered Follow the money after research. Unbeknownst to them, the money from investors with a sustainable conscience thus flows to companies such as Shell, Lufthansa and Glencore. Experts are shocked by the results: ‘The future of sustainable investment is at stake.’
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