The EEF’s letter to the Prime Minister

first_imgRelated posts:No related photos. The EEF’s letter to the Prime MinisterOn 21 Nov 2002 in Personnel Today Iam writing on behalf of the many UK companies which stand to be placed at asevere competitive disadvantage if the EU Directive on Temporary Agency Workersgoes through unamended.Weat the EEF have been working closely with the DTI, other trade bodies, and inparticular the companies that have put their names to this letter, to try toachieve an acceptable position. However, I believe we have reached a pointwhere your personal intervention is essential if we are to avoid a result whichwill severely damage labour market flexibility.Whilstwe are concerned about the impact on all agency workers, we are particularlyworried about the effect on higher skilled engineers and technicians. Typicallythese workers tend to be highly paid and choose to work on temporary contractsto suit their lifestyle. Their flexible pattern of working fits well with theneed in certain high technology companies to meet business fluctuations and yetretain a significant core of highly skilled employees. Removal of this flexibilitythrough the restrictive provisions currently proposed would have a devastatingimpact on many of the UK’s most technologically advanced engineering andmanufacturing companies. These businesses rely on the ability to manage highlyskilled resources in order to meet changes in demand and project timeframes. Webelieve that inevitably jobs would be lost abroad.Iknow you share our concerns with this Directive, and we have been workingconstructively with the DTI to engage MEPs, Commission officials and ourcounterparts in other EU Member States.Wenow need your help to bring our concerns to your fellow EU leaders. Inparticular, we urge you to use the opportunities of the forthcoming Council ofMinisters and Copenhagen Summit to press our case.Webelieve the following points must be addressed: –there should be an exemption period of at least 12 months – we believe thederogation of six weeks which was in the Commission’s original proposal istotally inadequate; –member States should have the option to exempt from the Directive’s provisions,higher skilled technical and professional agency workers; –the suggested comparator – between user company staff and agency worker – isflawed and opens up a whole host of issues over privacy and additional red tape.The comparator should be another agency worker from the same agency. At thevery least, the basis of comparison should be left to individual Member Statesto decide; –pay should not be included in the comparison, but if it is, it shouldspecifically exclude occupational pensions. Britishcompanies, particularly manufacturers and technology-based businesses, havedeep concerns about the impact this Directive will have if taken as currentlyproposed. On behalf of the companies listed below, and others across themembership of the EEF and other trade associations, I urge you to encourageyour colleagues in the Council of Ministers and counterparts across the EU torecognise the importance of this matter, and to take steps to limit thepotentially damaging impact of the Directive on European labour marketflexibility and competitiveness.MartinTemple Director General EEF Organisationssupporting this letter: Companies:CMG Logica GKN Plc IBM M.W. Kellogg Limited Perkins Engines Siemens Plc Smiths Group Plc TradeAssociations: Intellect SBAC Comments are closed. Previous Article Next Articlelast_img read more

Sources say Chinese regulators to limit use of green bonds for ‘clean coal’ projects

first_imgSources say Chinese regulators to limit use of green bonds for ‘clean coal’ projects FacebookTwitterLinkedInEmailPrint分享Reuters:Chinese regulators are close to releasing new “green bond” standards that would exclude polluting fossil fuel projects from corporate financing channels designed to lift environmental standards, people familiar with the matter told Reuters.Beijing has in recent years promoted new green financing methods to help industry pay for its transition to cleaner modes of growth. But China’s inclusion of “clean coal” in a 2015 central bank list of technologies eligible for green bonds has put the country at odds with global standards, a point of contention for some international investors and many environmental groups.Two sources with direct knowledge of the situation say China’s central bank, which regulates financial institution debt issuance and whose 2015 guidelines were adopted by other market regulators, has already revised the eligibility list. One of the people said the list is due to be published later this month. The People’s Bank of China did not immediately respond to Reuters’ request for comment.“If confirmed, ending the policy of financing coal with green bonds would be a much-needed step in the right direction,” said Liu Jinyan, senior campaigner with environmental group Greenpeace in Beijing. “With no new coal projects taking money from the green bonds market, those funds can actually accelerate China’s energy transition and green development,” she said.Of the $42.8 billion worth of green bonds issued in China last year, only $31.2 billion would have met global criteria, according to a report published at the end of February by the Climate Bonds Initiative (CBI), a non-profit group backing green bond standards. The share of what CBI calls “internationally aligned” green bonds has been steadily increasing as China’s institutions move to align themselves more with global markets.More: China to cut coal from new green bond standards: sourceslast_img read more