contribute not just its policies, but its money, too.’’ World Source: BUSINESS AND THE ENVIRONMENT, Vol. XX, No. 11,
Bank Treasurer Kenneth Lay commented, ‘‘We’re very November 2009, published by CCH Inc., a Wolters Kluwer
pleased . . . with the confidence [California] is showing in business. This article is reproduced with permission.
the quality and liquidity of World Bank bonds as a means
[to meet the climate change challenge]’’.
Ontario Takes on Tires
For additional information about SEB and on the World
Bank Green Bonds, see www.sebgroup.com and http:// Some three million used tires languish in stockpiles
treasury.worldbank. org/newsinvestors. scattered across Ontario. In the past, most used tires have
been exported from the province to be used as fuel, a
Derived from BUSINESS AND THE ENVIRONMENT, Vol. XX, practice that has been criticized for creating air pollution.
No. 12, December 2009, published by CCH Inc., a Wolters So, more and more of the unwanted, unloved round
Kluwer business. This article is reproduced with permis- rubber rejects are piling up, creating breeding grounds for
sion. mosquitoes and constituting a fire hazard. However, the
Ontario Tire Stewardship (OTS), a not-for-profit organiza-
tion developed by Waste Diversion Ontario, has decided
to tackle the problem head on.
Sustainable Banking Awards Winners
On 1 September 2009, the OTS launched a new Used
The Financial Times and the International Finance Cor- Tire Program to recycle 90% of scrap tires and eliminate
poration (IFC) recently announced the winners of the 2009 those nasty stockpiles within 3–5 years. The recycling pro-
gram, the first of its kind in Canada, is based on extended
FT Sustainable Banking Awards. This is the fourth year of the
producer responsibility (EPR), which holds producers
awards, which recognize banks and other financial institu-
responsible for the environmentally sustainable disposal of
tions that have shown true innovative leadership in inte-
their products. The Used Tire Program will be funded by
grating social, environmental, and corporate governance
brand owners and first importers, also known as stewards.
considerations into their business operations. The Awards
Tire stewards will pay a fee to OTS for every tire they intro-
continue to gain popularity, and