Companies and individuals are invited to submit their application for the award in three categories: case studies (for companies), special Innovation, and research. The call for applications is open until 15 August 2018.
“We are happy to launch the IV Global Chemical Leasing Award, encouraged by the great results of the previous award’s editions. Together with our partners from the Austrian, German and Swiss Governments, UNIDO aims to acknowledge best practices in sustainable chemicals management and inspire companies and individuals around the globe to apply innovative business concepts, such as Chemical Leasing” –says Petra Schwager, UNIDO Chemical Leasing programme coordinator.
“I believe in Chemical Leasing because I have seen the results. I assisted companies in the transformation of their businesses by applying the model. I was a witness of how they changed in terms of economic, environmental performance and safety, but mainlyhow they adapted their managerial and corporate values. I was happy to participate in the award and to see that the model is being adopted all over the world.” – says VojislavkaŠatrić, an experienced chemical engineer and the winner of several Chemical Leasing awards (for PR, consulting services and scientific papers).
More information aboutthe award 2018 may be found on the chemicalleasing.org website and on social media on the FB page. Questions about the award and the application process may be addressed to ChemicalLeasing[at]unido.org.
You might be asking yourself: “Does my company apply Chemical Leasing?”
Chemical Leasing is around us, it is applied in many companies worldwide, but sometimes under different names.Ecolab, an international supplier of chemicals, calls it a flat-fee agreement or active-based price model. Safechem has branded its chemical leasing operations as COMPLEASE™.
Chemical Leasing is a functional-based business model that aims at a more efficient use of chemicals in the production process by redefining the business relationship between the chemical user and the supplier.
The conventional business model assumes that the more you sell, the more you earn. However, in the Chemical Leasing model the supplier does not sell quantities. The supplier sells the function of the chemical. This is the service rendered by the chemical.
For example, the function of the chemical could be to clean or degrease metal parts, or to protect a surface. Payment is then made according to functional units, that is, the number of pieces cleaned or the extent of area coated.
A producer of automotive parts needs solvents to clean and degrease them. The company pays the chemical supplier for the functions performed by the chemical, that is, the cleaned metal parts. The company does not pay according to the amount of solvent used.
A car producer needs surface protection for its cars. This includes car body pre-treatment, surface activation and the application of a system of coatings. Under Chemical Leasing the company pays per car body protected. It does not pay according to the amount of chemicals used.
When payment is linked to the functions performed, both partners are incentivized to achieving target results and meeting the requirements of operations, by usinglesschemicals. By aligning the motivations of the user and the supplier, Chemical Leasing helps achieve a win-win situation for both partners.But also the environment benefits: a prolonged life cycle of chemicals, waste minimization and the efficient use of resources – all that contributes to the achievement of circular-economy goals.
“The thing that excites me about Chemical Leasing is the way that it aligns our motivations. We want to have performance, we want to have profitability, and we want things to be good for the environment and human health – Chemical Leasing does that and changes the whole directions of the way we want to go about using chemicals… We get the function and the services that we need without having the extra waste! “ -says Paul Anastas, “Father of Green Chemistry”, Director of Yale University’s Center for Green Chemistry and Green Engineering.
Fintechs See Increased Growth as Firms Adapt to COVID-19
The World Economic Forum has today released results of a study on how the fintech industry has been impacted by COVID-19.
Since the onset of the pandemic, the fintech industry has seen increased growth. In 2020, firms saw an average rise of 13% compared to 11% growth in previous years. The expansion of transactions was noticeably higher in countries with strict lockdown measures, where growth was 50% higher, compared to firms who were operating in countries with looser measures. Though the highest gains were seen in the digital payments sector, nearly all fintech services saw increased growth. Digital lending was the only service that did not see increased growth.
“It’s clear COVID-19 has disrupted the global economy with lasting implications for corporates and consumers,” said Matthew Blake, Head of Financial and Monetary Systems, World Economic Forum. “Despite this challenging backdrop, fintechs have proven resilient and adaptable: contributing to pandemic relief efforts, adjusting operations and offerings to serve vulnerable market segments, like micro, small and medium-sized businesses, while posting year-over-year growth across most regions.”
Despite this growth, many fintech firms are in a deteriorating financial position, with over half of survey respondents reporting a negative impact on their capital reserves and mixed views for future funding. The Global COVID-19 Fintech Market Rapid Assessment report, which the Forum has launched in collaboration with the Cambridge Centre for Alternative Finance (CCAF) and the World Bank, explores these trends in depth, examining both financial and policy effects on the fintech industry during COVID-19.
Fintech trends during COVID-19 lockdowns
On average, fintech firms in economies with stricter lockdown measures saw 50% higher transaction growth than economies whose governments applied looser measures. Firms in the markets with the strictest lockdowns saw 15% growth in their transactions compared to 10% growth in countries with the fewer restrictions.
Transaction volumes and number of transactions under low, medium and high COVID-19 lockdown stringencies
Image: CCAF/World Economic Forum/World Bank
These trends were also seen in fintech employment in these economies. Fintechs in countries with more lockdown restrictions reported an average of 10% increase in full-time employees, while fintechs in economies with fewer lockdown restrictions actually saw their full-time staff decrease by 19%.
Launch of new products and services and changes to existing ones
Fintechs have responded to the COVID-19 pandemic by implementing changes to their existing products, services and policies. Two-thirds of surveyed firms reported making two or more changes to their products or services in response to COVID-19, and 30% reported being in the process of doing so. The most prevalent changes across all fintech sectors were fee or commission reductions and waivers, changes to qualification, and onboarding criteria and payment easements.
Fintechs have also launched a range of new products and services in response to the pandemic. Some 60% of surveyed firms reported launching a new product or service in response to COVID-19, with a further 32% reporting that they were in the process of doing so.
The most prevalent new change for digital payments firms was the development and deployment of additional payments channels (introduced by 38% of firms), for digital lending it was value-added non-financial services (e.g., information services; introduced by 35% of firms) and, for digital capital raising it was hosting COVID-19-specific funding campaigns (introduced by 35% of firms).
Despite significant willingness, fintech involvement in relief remains limited
To date, fintech involvement in the delivery of COVID-19-related relief is limited, despite significant willingness by firms. More than a third of surveyed firms reported a willingness to participate in the delivery of one or more COVID-19-related relief measures or schemes.
While this demonstrates strong interest, the participation rates of fintech firms in relief schemes ranged between 7% for NGO-led measures to 13% for government job-retention measures. Fintech firms were most likely to indicate interest to participate in the delivery of industry-led relief measures (32% of firms), government match-funding schemes (32%), and government-bases stimulus funding to MSMEs (30%).
“This study reveals a global fintech industry that has been largely resilient in spite of COVID-19. Nonetheless, its growth must be interpreted with nuance and in the context of unevenness, and the opportunities for the industry should be juxtaposed with the challenges it faces,” said Bryan Zhang, Co-Founder and Executive Director of the Cambridge Centre for Alternative Finance.
“Fintech has shown its potential to close gaps in the delivery of financial services to households and firms in emerging markets and developing economies,” said Caroline Freund, World Bank Global Director for Finance, Competitiveness and Innovation. “This survey shows how the fintech industry is adapting to the pandemic and offers insights for regulators and policymakers seeking to promote innovation and reap the benefits of fintech, while managing risks to consumers, investors, financial stability, and integrity.”
“Covid-19 is accelerating change in how people interact with financial services, which has led to unprecedented demand from developing countries to progress their transition to secure and inclusive digital finance. Whilst it is encouraging to see the growth reported by Fintechs in the study, there are also cautionary indicators that some firms are suffering a deterioration in their financial position and are concerned over their ability to raise capital in the future. This is something that the FinTech community should be mindful of given the significant economic opportunities that Fintech presents,” said James Duddridge MP, the UK’s Minister for Africa at the Foreign, Commonwealth & Development Office (FCDO).
The report was based on survey responses from 1,385 fintech firms in 169 countries. The survey was carried out by CCAF, the World Bank and the World Economic Forum.
Central African Republic: Diversifying the economy to build resilience and foster growth
According to the latest economic update for the Central African Republic (CAR), which was published today by the World Bank, the country’s pace of economic growth for 2020 will have slumped to between 0 and −1.2% as a result of the COVID-19 pandemic following five years of robust growth (4.1%, on average). In 2019, although the country’s growth rate slipped to 3.1%, it was still higher than the rates recorded by neighboring countries that are facing a similar situation of fragility, conflict, and violence.
Entitled The Central African Republic in Times of COVID-19: Diversifying the economy to build resilience and foster growth,theupdate notesthat the global slowdown has not spared CAR, where production of its main export products, such as coffee and cotton, has plummeted. The health crisis has weakened public finances and deepened the country’s balance of payments deficit.
The authors observe that the pandemic’s effects may wipe out years of progress in the area of human development and could drive as many as another 140,000 people into extreme poverty, which was already the plight of 71% of the population in 2019. The growth rate should start climbing again once the pandemic is brought under control, however, rising to an average of 3.9% in 2021-2023, although this is still lower than the projected rates for those years before the outbreak of the pandemic.
“Even though the security situation has improved since the peace agreement was signed in February 2019, pre-existing structural problems in the Central African economy have exacerbated the impact of the pandemic,” explained Wilfried A. Kouamé, World Bank Economist and lead author of the report. “The economy’s lack of diversification makes it vulnerable to shocks and limits its participation in global value chains, while its heavy dependence on international assistance reduces its budgetary maneuvering room.”
A number of recommendations are made in the report for spurring the economic recovery and boosting the country’s potential growth rate:
Diversify the economy by capitalizing on existing export opportunities. The country’s major export products, such as timber and cotton, offer opportunities for specializing in a wide range of related products, creating new jobs, and generating additional revenue. CAR could also begin to export a variety of new products in which it has a comparative advantage.
Address the major cross-cutting problems affecting the country by putting an end to the violence, strengthening its institutions, ensuring respect for the law, and investing in sustainable development. These steps would expedite the reconciliation process and promote private enterprise and investment. The transport sector also needs to be developed in order to further cross-border trade and open up access to electricity in a country where just 8% of the population currently has access to a source of electrical power.
Reinforce subregional trade. Asia and Europe are among CAR’s top export markets despite their highly competitive nature and the significant constraints associated with the resulting transport costs. Meanwhile, neighboring countries have the potential to be important markets for the country, since they are currently net importers of products that CAR exports elsewhere. This subregional market represents some $31 billion in imports per year and has a population of over 175 million.
“CAR has an important choice to make,” said Han Fraeters, the World Bank’s Country Manager for CAR. “It can build a strong, diversified, and resilient economy but only if all stakeholders in the country are committed to holding peaceful general and local elections and to implementing the peace accord. Without peace and the prospect of long-term stability, CAR will be unable to realize its strong economic potential.”
World must not accept slavery in 21st century
Commemorating the International Day for the Abolition of Slavery, the United Nations Secretary-General highlighted the impact of the contemporary forms of slavery, underscoring that such abhorrent practices have no space in the twenty-first century.
In a message, Secretary-General António Guterres said that global protests this year against systemic racism brought renewed attention to a “legacy of injustices all over the world whose roots lie in the dark history of colonialism and slavery.”
“But slavery is not simply a matter of history.”
Globally, more than 40 million people are still victims of contemporary slavery, including about 25 million in forced labour and about 15 million in forced marriage, according to UN estimates. One in four victims are children, and women and girls account for 71 per cent of the victims.
Inequality ‘further reinforces’ discrimination
“Poor and marginalized groups, in particular racial and ethnic minorities, indigenous peoples and migrants, are disproportionally affected by contemporary forms of slavery,” Mr. Guterres said.
“Gender inequality further reinforces patterns of discrimination,” he added.
Slavery manifests itself through descent-based servitude, forced labour, child labour, domestic servitude, forced marriage, debt bondage, trafficking in persons for the purpose of exploitation, including sexual exploitation, and the forced recruitment of children in armed conflict.
‘Flagrant violations’ of human rights
The UN chief urged all sections of the society to strengthen their collective efforts to end the abhorrent practices.
“I call for support to identify, protect and empower victims and survivors, including by contributing to the UN Voluntary Trust Fund on Contemporary Forms of Slavery,” he added.
In the message, the Secretary-General also recalled the Durban Declaration and Programme of Action, a comprehensive, action-oriented document that proposes concrete measures to combat racism, racial discrimination, xenophobia and related intolerance. It also acknowledges that slavery and the slave trade are crimes against humanity, and should have always been so.
“This milestone document defines slavery and slavery-like practices as flagrant violations of human rights … we cannot accept these violations in the twenty-first century,” Mr. Guterres stressed.
The International Day
The International Day for the Abolition of Slavery, commemorated each year on 2 December, marks the date of the adoption of the UN Convention for the Suppression of the Traffic in Persons and of the Exploitation of the Prostitution of Others. The Convention entered into force in 1951.
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