Weekly Green Tau

Green Tau: issue 87

8th February 2024

What is the purpose of running a business?

A business is an enterprise that sells something it makes or sells a service it provides. It can be a one person operation or a multinational employing thousands. 

The business operation will incur costs and will remain viable provided it covers those costs. The business may need capital to get started or to expand it operation, and it may need loans to balance out peaks and troughs in its cash flow. Usually the business will over time earn more from what it sells than its costs and so makes a profit. Such profits are usually kept by the people owning the business. In some cases that might be some or all of the people who work in the business, in some cases it might be both employees and customers (eg a cooperative), and in some cases it might be external shareholders.

The success of a business is usually equated with its ability to make a profit. A successful business makes large profits, less successful businesses make smaller profits, and those that make no profit close down. 

But is profit the only way of measuring success? What about customer satisfaction? What about being a good employer? What about the business’s contribution to the stability and wellbeing of the local community? 

Thames Water makes high profits and has the worst for receiving complaints from customers. Might a more successful water company be one that best provides what customer need – clean, reliable drinking water?

Amazon is highly profitable company but many of its employees are both poorly paid and subject to stressful working conditions. Employees feel they are being constantly monitored and that even taking time to go to the toilet is counted against them. Might a  successful company be one that provides long term secure employment that gives job satisfaction, wages that support comfortable living standards, and credible pension? It could be us or our neighbour or our children who are looking for gainful employment.

Small rural communities – and increasingly deprived urban communities – are finding that they have no local bank, fresh food shops, dental surgery etc as the pressure to maintain profits pushes business to leave an area or to downsize. This is not good for the local community and can become a spiral where the more businesses leave, the more quickly the area becomes depressed and the more other businesses leave. With the businesses go local jobs. The heart of the community is quickly lost. Might a successful business be one that adds vitality to its community, is valued by local people and keeps jobs and money circulating with the community?

Actually in all three of these scenarios one might feel that the customer’s wishes were not be valued by the businesses. What has happened to the understanding that ‘the customer is always right’? How often have you been held on a phone call to have the oft repeated – but barely credible – ‘Your call is important to us’ automatically relayed to you? 

It does seem that the idea that the main purpose of a business is to make a profit does not benefit the consumer nor the community. Further what we are now increasingly seeing, is that the primacy of profit is also detrimental to the environment. 

In Herefordshire the large number of industrial scale chicken farms has led to high levels of effluent running into the River Wye, polluting it with phosphorus and killing its wildlife. 

In Spain strawberry growers have been abstracting so much water for their crops, that the Doñana national park – a renowned wetland area – is being depleted of water threatening the survival of many plants and creatures including flamingos, spoonbills and the glossy ibis. 

Globally the burning of fossil fuel products has triggered an escalating climate crisis threatening all forms of life, whilst the fossil fuel companies have continued to make recording breaking profits. 

One approach to this problem is to replace the traditional bottom line of ‘loss or profit’ with a ‘triple bottom line’ which measures the business’s impact over three area: economic, environmental and  social – or the 3Ps: people, planet and profit. It is however harder to find ways of measuring the loss and profit aspects of people and planet, and of doing so in a way that allows for comparison across businesses. How do we put a price on community stability or clean air?

Suffolk Libraries commissioned a research company to assess the value of their libraries. Using surveys, focus groups and modelling, the researchers found ways of measuring the social impact of the services the libraries offered that translated into monetary values. They concluded that for every £1 spent, the social value gained was £6.07.

The environmental impact of a business might be measured in terms of carbon emissions, or in terms of the cost of making good damage to the environment. If the chicken farms in Herefordshire has to pay the cost of cleaning and revitalising the River Wye, it would make a significant impact on the bottom line of their businesses. In 2021 local MPs wrote to the government asking for £15 million to clean up the river.

One  organisation that has developed a way of measuring  better business

practices is B Lab. This not-for-profit international organisation has developed a certification system that “measures a company’s entire social and environmental performance. From supply chain and input materials to charitable giving and employee benefits, B Corp Certification verifies that a business is meeting high standards of social and environmental performance, transparency, and accountability.” Successful businesses become certified as B Corps. (For more info – https://bcorporation.uk/)

The campaign for better business practices is ongoing and seeks to include not just those businesses with a conscience, but to extend the expectation of good practice in all the 3Ps, to all businesses. B Lab UK and a coalition of more than 2400 businesses, is campaigning to amend Section 172 of the Companies Act. At present this section directs  businesses should prioritise the success – ie the profitability – of the company for the benefit of its members – ie shareholders. The proposed amendment would direct that businesses should prioritise the purposes – ie the social, economic and environmental impacts – of the company. (For more info – https://betterbusinessact.org/   and https://thehumanbusiness.co.uk/better-business-act/)

 Change in the way businesses operate is both possible and achievable.

Green Tau: issue 86

5th February 2024

Banking on a better future

The world – people, animals, plants, birds, economies, agriculture, water supplies etc – is already suffering from the effects of climate change and this is a crisis that will continue to grow (exponentially) unless action is taken. The major contributor of the greenhouse gases cause this, is fossil fuels. 

The IPCC AR6 Synthesis Report (2023) states  “Limiting human-caused global warming requires net zero CO2 emissions. Cumulative carbon emissions until the time of reaching net-zero CO2 emissions and the level of greenhouse gas emission reductions this decade largely determine whether warming can be limited to 1.5°C or 2°C (high confidence). Projected CO2 emissions from existing fossil fuel infrastructure without additional abatement would exceed the remaining carbon budget for 1.5°C (50%) (high confidence)”. https://www.ipcc.ch/report/ar6/syr/resources/spm-headline-statements/

In other words, our current production levels and use of fossil fuels will, cumulatively (because they build up and remaining in the atmosphere for generations), cause global temperatures rises in excess of 1.5C.  (In 2023 the global temperature rise was 1.2C above the average for NASA’s baseline period (1951-1980))

For more insight into the urgency of the situation, see https://www.theguardian.com/environment/2023/mar/20/ipcc-climate-crisis-report-delivers-final-warning-on-15c?CMP=Share_iOSApp_Other

The IPPC’s report goes on to to say “Finance, technology and international cooperation are critical enablers for accelerated climate action. If climate goals are to be achieved, both adaptation and mitigation financing would need to increase many-fold. There is sufficient global capital to close the global investment gaps but there are barriers to redirect capital to climate action.”

Finance is key but it will only be effective if it is targeting projects that reduce emissions. One would expect therefore to be seeing an ongoing g and rapid transfer of money away from fossil fuel projects and into the support of renewable energy. Yet in January 2023 Reuters reported “The share of bank finance going to renewable energy rather than fossil fuels has little changed in six years, raising questions about how fast lenders are pushing energy clients to become greener, according to research published Tuesday. Since 2016 renewable energy has taken 7% of a total $2.5 trillion in bank loans and bond underwriting for energy activities, according to a report commissioned by environmental groups including Sierra Club and Fair Finance International.” https://www.reuters.com/business/sustainable-business/bank-funding-renewables-stagnates-vs-oil-gas-report-2023-01-24/

A report, Banking on Climate Chaos, records that fossil fuel financing from the world’s 60 largest banks reached $5.5 trillion in the six years since the Paris Agreement, 2015, and 2022. Of these JP Morgan, the worst bank overall, financed $39 billion in 2022, so totalling $434 billion between 2016 – 2022. Top rating amongst the European banks was Barclays, which took seventh place in the league table, having $190.5 billion over the time frame. 

Barclays provides finance to numerous oil companies including Exxon, Shell, BP, Chevron, Total, and Equinor. This is finance that supports both existing and new projects. Yet there is no space in the world’s carbon budgets for this continuing increase in emissions. “Potential emissions from fossil fuels already in production or under construction – the wells already drills or being drilled – already takes the world well past 2C of global warming… world cannot afford any fossil fuel expansion…”  https://www.bankingonclimatechaos.org/

Not surprisingly a number of climate concerned groups are pushing for change – both of banks that they stop financing the fossil fuel industry, and of customers that they stop using these highly destructive banks. 

It is often argued that moving one’s money out of Barclays will have no impact as it will merely be replaced by money from elsewhere. I’m not sure that that can always be true – there must at some point be a finite sum of money to be banked. But turning it round, the money you move can then be invested by a greener bank to support renewable energy and other beneficial projects – and this indeed might be money they would otherwise not get. And don’t worry of the amount you are banking with is small: for every £ deposited, banks will lend a multiple amount. Even if that multiplier was  only 2 it would double the financial contribution that you money makes to green investments.

Here in the UK Make My Money Matter is calling on individuals to “green their money” as well as encouraging students and alumni to call on their universities to switch to  sustainable  banks – https://makemymoneymatter.co.uk/

Another useful website is ‘switch it green’  helping people find a better bank – https://www.switchit.green/about

Just Money offers another  perspective on the issue, this time from a Christian view point, and has advice and resources for churches and charities wishing to switch to green banking.  

I have been involved with Christian Climate Action’s ongoing campaign to encourage charities to switch to greener banks – especially those charities whose remit encompasses people and places adversely affected by the climate crisis. To date Christian Aid, Greenbelt and Oxfam have all declared their decision to switch away from Barclays Bank. Read more on this at – https://www.churchtimes.co.uk/articles/2024/2-february/news/uk/more-charities-sever-ties-with-barclays-over-stance-on-fossil-fuels

And it is not just charities that are being asks to reconsider their banking arrangements. The same ask is being made of churches and dioceses. Christians are called to care for creation and to love their neighbour – which are actually overlapping  vocations – and switching to a bank that does not pursue profit through the financing of fossil fuels,  is one of the easier steps  they can take!

Prayer vigil outside Oxfam’s headquarters.

Candlemas 

4th February 2024

Reflection (readings are below)

Candlemas end of the season of epiphany ends as it begins with the true nature of Jesus being revealed to the world. Six weeks ago we heard how the magi interpreted the message of the star so leading them to the house in Bethlehem where they recognised the baby Jesus as not just a king but also as one to be worshipped and adored.  Today we hear how Anna and Simeon having been led to where Mary and Joseph were making a ritual offering in the temple, recognised the true nature of the baby Jesus as the one who will be the means of salvation for the whole world. Both are epiphany moments – moments when a bright light seems to shine through earthly things to reveal God’s glory, a moment when the true nature of Jesus is revealed. In a few weeks we will hear the story of the Transfiguration when again the true nature and identity of Jesus will be revealed, this time to his closest companions.

Today’s first reading from the prophet Malachi, gives us an interesting slant on another aspect of revelation. Malachi talks of refining and purifying. To refine something can be to remove any impurities.  

Fuller’s soap – or fuller’s earth -is an alkaline substance that attracts and hangs onto grease and dirt in the wool or cloth that is to be cleaned. Then when the fuller’s soap is washed out it takes away with it the impurities. At the same time, being an alkaline, it also bleaches or whitens the material. 

Refining can also mean improving a process through trial and error or by repeated practice. We might refine our piano playing by practicing scales and repeating passages of music until we have perfected them. 

Refining might mean getting to the true purpose of a project or the true identity of a product. We might refine our wardrobe to create a particular look or to enable a particular lifestyle. 

As metal workers we might refine a piece of metal by heating and hammering it so that it becomes stronger and more flexible. As bakers, we might knead and stretch the dough to create a better textured bread. As chocolatiers we might warm and temper our chocolate to create a shinier smoother  finish. 

Refining may thus reveal the true or best characteristics of what is being refined. 

Malachi’s prophesy concerns the coming God’s messenger – by which we would now infer the coming of Jesus the Messiah – and the role he will play in refining and purifying God’s people.  Jesus will – and does – refine and purify us so that our true nature is revealed, a nature that reflects the image of God in which we were created, a nature that is characterised by righteousness.

For our part we need to align ourselves with Jesus, to allow our lives to be shaped by his, to allow  practice and testing to remove the impurities – our obstinacy and  stubbornness, our selfishness and lack of compassion – so that we become the people God calls us to be. In this we will find our strength and purpose, we will find an overwhelming desire to praise and serve God.

Malachi 3:1-4

Thus says the Lord, See, I am sending my messenger to prepare the way before me, and the Lord whom you seek will suddenly come to his temple. The messenger of the covenant in whom you delight– indeed, he is coming, says the Lord of hosts. But who can endure the day of his coming, and who can stand when he appears?

For he is like a refiner’s fire and like fullers’ soap; he will sit as a refiner and purifier of silver, and he will purify the descendants of Levi and refine them like gold and silver, until they present offerings to the Lord in righteousness. Then the offering of Judah and Jerusalem will be pleasing to the Lord as in the days of old and as in former years.

Psalm 84

1 How dear to me is your dwelling, O Lord of hosts! *
My soul has a desire and longing for the courts of the Lord;
my heart and my flesh rejoice in the living God.

2 The sparrow has found her a house
and the swallow a nest where she may lay her young; *
by the side of your altars, O Lord of hosts,
my King and my God.

3 Happy are they who dwell in your house! *
they will always be praising you.

4 Happy are the people whose strength is in you! *
whose hearts are set on the pilgrims’ way.

5 Those who go through the desolate valley will find it a place of springs, *
for the early rains have covered it with pools of water.

6 They will climb from height to height, *
and the God of gods will reveal himself in Zion.

7 Lord God of hosts, hear my prayer; *
hearken, O God of Jacob.

8 Behold our defender, O God; *
and look upon the face of your Anointed.

9 For one day in your courts is better than a thousand in my own room, *
and to stand at the threshold of the house of my God
than to dwell in the tents of the wicked.

10 For the Lord God is both sun and shield; *
he will give grace and glory;

11 No good thing will the Lord withhold *
from those who walk with integrity.

12 O Lord of hosts, *
happy are they who put their trust in you!

Hebrews 2:14-18

Since God’s children share flesh and blood, Jesus himself likewise shared the same things, so that through death he might destroy the one who has the power of death, that is, the devil, and free those who all their lives were held in slavery by the fear of death. For it is clear that he did not come to help angels, but the descendants of Abraham. Therefore he had to become like his brothers and sisters in every respect, so that he might be a merciful and faithful high priest in the service of God, to make a sacrifice of atonement for the sins of the people. Because he himself was tested by what he suffered, he is able to help those who are being tested.

Luke 2:22-40

When the time came for their purification according to the law of Moses, the parents of Jesus brought him up to Jerusalem to present him to the Lord (as it is written in the law of the Lord, “Every firstborn male shall be designated as holy to the Lord”), and they offered a sacrifice according to what is stated in the law of the Lord, “a pair of turtledoves or two young pigeons.”

Now there was a man in Jerusalem whose name was Simeon; this man was righteous and devout, looking forward to the consolation of Israel, and the Holy Spirit rested on him. It had been revealed to him by the Holy Spirit that he would not see death before he had seen the Lord’s Messiah. Guided by the Spirit, Simeon came into the temple; and when the parents brought in the child Jesus, to do for him what was customary under the law, Simeon took him in his arms and praised God, saying,

“Master, now you are dismissing your servant in peace,
according to your word;

for my eyes have seen your salvation,
which you have prepared in the presence of all peoples,

a light for revelation to the Gentiles
and for glory to your people Israel.”

And the child’s father and mother were amazed at what was being said about him. Then Simeon blessed them and said to his mother Mary, “This child is destined for the falling and the rising of many in Israel, and to be a sign that will be opposed so that the inner thoughts of many will be revealed– and a sword will pierce your own soul too.”

There was also a prophet, Anna the daughter of Phanuel, of the tribe of Asher. She was of a great age, having lived with her husband seven years after her marriage, then as a widow to the age of eighty-four. She never left the temple but worshiped there with fasting and prayer night and day. At that moment she came, and began to praise God and to speak about the child to all who were looking for the redemption of Jerusalem.

When they had finished everything required by the law of the Lord, they returned to Galilee, to their own town of Nazareth. The child grew and became strong, filled with wisdom; and the favour of God was upon him.

Prayers for creation

 3rd February 2024

The earth is the LORD’s, and the fullness thereof, the world and all who dwell therein. Psalm 24:1

You Lord, are the source of all good things:

We praise you.

You call us to tend and care for your creation:

May we strive to do your will.

You have made us as brothers and sisters with all that lives:

May we live together in peace.

A Reading from Leviticus 25:2-7, 23-24

When you enter the land that I am giving you, the land shall observe a sabbath for the Lord. For six years you shall sow your field, and for six years you shall prune your vineyard, and gather in their yield; but in the seventh year there shall be a sabbath of complete rest for the land, a sabbath for the Lord: you shall not sow your field or prune your vineyard. You shall not reap the aftergrowth of your harvest or gather the grapes of your unpruned vine: it shall be a year of complete rest for the land. You may eat what the land yields during its sabbath—you, your male and female slaves, your hired and your bound labourers who live with you; for your livestock also, and for the wild animals in your land all its yield shall be for food…The land shall not be sold in perpetuity, for the land is mine; with me you are but aliens and tenants. Throughout the land that you hold, you shall provide for the redemption of the land. 

Response (from https://ourcommonprayer.org/2021/09/06/tuesdays-in-climate-emergency/)

Like carbon to the atmosphere:

We have added to the world’s woes.

Like nutrients from the soil;

We have taken without restoring.

Like heat to the ocean:

We have sown destruction.

All: Have mercy upon us, have mercy upon us, have mercy upon us.

In our forgiving and being forgiven:

Bring in your reign, O God: Let Godly hopes prevail.

“Is not this the kind of fasting I have chosen?”: 

Merciful God, open our ears to hear your word and our hearts that we may respond with action.

Intercessions

“Loose the chains of injustice and untie the cords of the yoke.”

May we be not blind to the hardships faced by plantation workers and farmers when big business holds the balance of power. 

Rather let us support fair trade both with our lips and our purses. 

“Set the oppressed free and break every yoke.”

May we not be ignorant of the oppression of government loans and trade deals. 

Rather let us campaign for justice and use our voices to challenge those in power. 

“Share your food with the hungry and to provide the poor wanderer with shelter.”

May we not be forgetful of those who cannot afford to eat, at home and afar.

Rather let us be generous in sharing our wealth, whilst demanding a living wage for all.

“When you see the naked, clothe them; do not to turn away from your own kin.”

May we comprehend that it is not just people, but the land too that can be stripped of protection. 

Let us safeguard all living things that have been made vulnerable through our greed. 

“Then your light will break forth like the dawn, and your healing will quickly appear”.

Restoring God, may we, in our lifetime, see the healing of the environment, the restoration of justice and the renewal of creation’s natural abundance.

“Then your righteousness will go before you, and the glory of the LORD will be your rear guard.” 

May we learn in our hearts and put to effect in our lives the wisdom you teach us. 

Amen.

Based on Isaiah 58: 6-8