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Evening ESG news and briefings to wrap up your day.
On February 14, Valentine's Day, delivery and ride-share drivers in the United States and the United Kingdom staged a collective strike. In the UK, workers from Deliveroo and Uber Eats joined forces, while in the US, drivers from Uber, Lyft, and DoorDash united. Fortunately, the strike had been announced in advance and appears to have avoided major disruption and discord. The reason these workers pushed ahead with the strike ahead of the lucrative Valentine's Day period was the issue of low delivery fees.The UK newspaper The Guardian published two articles related to the strike. One was a journalist's report conveying the reality that delivery workers struggle to earn even a "living wage." The other was an anonymous contribution from a delivery worker stating that, after deducting fuel costs and insurance premiums from delivery fees, not even the "minimum wage" was left. Two different expressions—living wage and minimum wage—were used in reference to the same issue.[Uber Eats promotional message: 'Work when you want, earn as much as you need' ©Uber]How Do a Living Wage and Minimum Wage Differ?While the minimum wage is easy to understand, the concept of a living wage is still unfamiliar to many. Both expressions refer to wages that take into account a minimum cost of living. The minimum wage holds significance in guaranteeing the lower limit of food, clothing, and shelter costs to protect workers' basic right to survival. The living wage, on the other hand, is a concept that goes beyond compensation for labor, aiming to ensure that a person's earnings can maintain an adequate standard of living, covering housing, food, healthcare, and education.In the UK, the applicable group and amount are legally designated differently. Workers under 23 years of age are guaranteed the minimum wage, while workers aged 23 and over are guaranteed the living wage. For the 2023-2024 period, the UK minimum wage was set at £5.28 (approx. 8,895 KRW) for those under 18, £7.49 (approx. 12,618 KRW) for ages 18-20, and £10.18 (17,149 KRW) for ages 21-22. The living wage for those aged 23 and above was set at £10.42 (17,553 KRW). The minimum wage is determined through negotiation based on recommendations from companies and unions, while the living wage is set at 66% of median income. These amounts are updated every April.The living wage is not a concept entirely remote from us. In South Korea, it is being implemented selectively at the local government level rather than by the central government.Are Delivery Drivers Legal "Workers"?At least in the UK, they are not. The UK Supreme Court has issued a ruling restricting the right to collective bargaining for people providing labor through gig economy* platforms. Delivery drivers and ride-share drivers were interpreted as being self-employed contractors who have entered into agreements with the app service provider, rather than as workers. South Korea is in a similar position: delivery workers do not qualify as workers under the Labor Standards Act. However, they differ from the UK in that they are recognized as workers under the Trade Union and Labor Relations Adjustment Act, and are thus guaranteed the constitutionally based three labor rights (the right to organize, the right to collective bargaining, and the right to collective action). In fact, negotiations in South Korea are already taking place between delivery workers and platform operators such as Baedal Minjok (Baemin) and Kakao Mobility. In May of last year, approximately 200 Baemin drivers held a march in downtown Seoul demanding guarantees of a living wage, among other things. At the time, the drivers raised the issue that Baemin's base delivery fee of 3,000 KRW per delivery had been frozen for ten years.*Gig Economy: An economic form in which jobs are filled by short-term contract and temporary workers, rather than traditional regular and long-term employees. The terms "gig economy" and "gig economy platform" are frequently used to refer to on-demand labor and service-based sharing economies. The term originates from the 1920s American jazz club scene, where short-term contract musicians or performance groups (gigs) were brought in to sustain club performances.Forms of Labor ChangeThe gig economy, which gives the impression that anyone can easily earn money, is now settling in as an entrenched mode of employment. In this context, it ultimately falls on companies to set the appropriate price for the labor they purchase. The UN Global Compact (UNGC), the UN's corporate sustainability initiative, defines a living wage as compensation that goes beyond the minimum wage to ensure fair remuneration for employees. Of course, ride-share and delivery drivers are not employees of the platform companies. But as a workforce that is indispensable to business operations, they will require thoughtful consideration and decisions aimed at mutual prosperity. While the living wage may be difficult to serve as a legal basis for adjusting low delivery fees to realistic levels, it can at least serve as a minimum yardstick for responding to newly emerging forms of labor.by Editor N
Among American teens and twentysomethings right now, the stainless steel tumbler "Stanley Quencher H2.0" from the popular insulated bottle brand Stanley is an enormous hit. America's Gen Z and Millennials spend their days collecting Stanley Quenchers in every color, decorating them, and showing them off with pride.[The Starbucks collaboration edition Stanley Quencher that sold out in 4 minutes ©TikTok]The Starbucks collaboration Stanley Quencher, sold exclusively at the U.S.-based retailer Target, sold out in just four minutes despite a purchase limit of two per person. With the collaboration tied to the upcoming Valentine's Day, the tumblers are being resold on eBay at five to six times the original price, reaching up to $300.[Resale price of the Starbucks collaboration edition ©Ebay]On the short-form platform TikTok, the Stanley Quencher—referred to as #StanleyCup—is classified as an "aesthetic" product, a term denoting fashion that expresses one's own distinct sensibility. American teenagers choose a Stanley Quencher in a color that matches their outfit when going out, adorn their tumblers with various accessories, and proudly showcase them on social media. Pop singer Olivia Rodrigo, who is hugely popular among American teens, revealed in an interview with GQ magazine that TikTok influenced her decision to purchase a Stanley. Having captured the attention of American teenagers in this way, the Stanley Quencher series has been releasing numerous limited editions and rapidly driving up sales.[Stanley's bestseller changed starting in 2020. ©CNBC]The Stanley Quencher series established itself as a massive trend when the new CEO Terence Reilly was appointed in 2020. Reilly is known as the figure who sparked a global Crocs boom by orchestrating collaborations with a wide range of brands while at Crocs. According to CNBC, Reilly discovered content in which a women's consumer group running a commerce blog called "The Buy Guide" had recommended the Quencher series, and proceeded to produce Quencher tumblers in the pastel tones the Buy Guide editors wanted. Since then, each time a new color was unveiled, the Quencher series enjoyed a steep upward sales curve, repeatedly racking up "sold out" signs for color after color. The vibrantly colored tumblers soon overtook the sales of the iconic "green Stanley cup," which had been Stanley's bestseller and brand identity up to the time of Reilly's appointment in 2020. In December of last year, the Stanley Quencher tumbler succeeded in selling 10 million units.Before the Quencher boom, Stanley was a brand that sold reasonably priced tumblers under $40 to male consumers such as construction workers and hikers, emphasizing powerful insulation performance. Today, however, Stanley has emerged as a flashy fashion item wrapped in an eco-friendly concept favored by women.The trend of consuming eco-friendly products is nothing new to us, and neither are the concerns surrounding them. Take eco-bags, for example. Once hailed as a quintessential eco-friendly product, eco-bags became a subject of worry because, despite being reusable items, they often failed to be reused enough times to genuinely benefit the environment, ultimately not delivering real environmental benefits. Stainless steel tumblers, too, face criticism that their production process uses energy inefficiently and that they require sufficient reuse to justify their environmental cost. The New York Times has reported that producing a stainless steel water bottle requires approximately seven times more fossil fuels, emits 14 times more greenhouse gases, and demands hundreds of times more metal resources compared to a plastic water bottle. The Canada-based International Reference Centre for Life Cycle Assessment and Sustainable Transition (CIRAIG) has published a report stating that "a stainless steel tumbler must be reused at least 220 times to have the effect of maintaining the global environment at a level that is not harmful to humans."Stanley is not ignoring these concerns and has pledged on its website that by 2025, at least 50% of its stainless steel products and 100% of its packaging will be made from recycled materials. The U.S. tech publication Wired noted that "the Stanley Quencher craze has demonstrated that eco-friendly products can become popular; the next milestone is to prove that a mass-consumption trend does not necessarily lead to increased waste and overconsumption." All eyes are now on where Stanley's eco-friendly mass-consumption trend will go from here.by Editor N
The pandemic that swept across the globe accustomed office workers to remote work—performing their jobs from locations other than the office. However, as more companies like Amazon, Meta, and IBM have brought all employees back to the office following the end of the pandemic, debate has intensified over whether remote work benefits a company's long-term ESG strategy. According to Forbes, as of 2023, 12.7% of full-time employees work remotely, while 28.2% utilize a hybrid model that combines both office and remote work. Analysis from video conferencing technology company Owl Labs also indicates that 16% of companies globally operate entirely remotely without a physical office. Freelance platform Upwork has even predicted that if the current trend actively encouraging remote work continues, approximately 32.6 million Americans—22% of the entire U.S. workforce—will choose remote work by 2025.[Future of Remote Work Report 2020 ⓒUpwork]Fewer Commutes, Smaller Carbon FootprintDuring the pandemic period when remote work was actively encouraged, positive assessments emerged that it supported corporate ESG strategies. From an environmental perspective, remote work can reduce a company's carbon footprint by cutting down on time spent commuting via car or public transportation, as well as reducing the fixed office space required. According to Spain's Institute of Environmental Science and Technology, remote work can reduce nitrogen dioxide—a major air pollutant emitted by transportation—by approximately 10%. Between 2020 and 2022, numerous San Francisco-based IT companies reportedly transitioned to remote work or downsized their operations and relocated offices. As a result, San Francisco's office vacancy rate surged to 34% in the third quarter of last year.[San Francisco Office Vacancy Rate Graph ⓒCBRE Research]There are also benefits from social and governance perspectives. 35% of remote workers reported improved productivity, while 71% indicated that remote work helps maintain work-life balance. Moreover, the ability to work without being physically gathered in one location broadens recruitment diversity and can increase organizational inclusivity and flexibility. Hiring employees from various regions also expands the talent pool and increases the potential to provide more jobs. Tom Wilson, CEO of U.S. insurance company Allstate, stated that after adopting remote work, Allstate saw a 30% increase in hiring diversity. The U.S. Department of Labor also noted that compared to February 2020 when the pandemic began, the number of employed workers with disabilities nationwide increased by approximately 28%, reaching about 1.8 million, as commuting became unnecessary.Hidden Carbon Emissions from Remote WorkOn the other hand, there is criticism that many ESG values have been lost with the introduction of remote work. This is because individual employees cannot consider their own environmental impact, making it impossible for companies to manage pollution levels in an integrated manner. Harvard Business Review raised the possibility that while commuting to a fixed office allows measurement and management of carbon emissions based on consistent travel distances, remote work makes it difficult to manage the pollution levels generated by individuals moving between workspaces or producing waste, potentially resulting in higher overall environmental pollution. Opinions also point to risks in the social and governance dimensions. With communication taking place remotely, there has been an increase in isolated employees feeling a lack of belonging and experiencing loneliness. Burnout resulting from conducting work solely through video conferences and messaging apps has also been cited as a downside of remote work. Additionally, alongside analysis linking a 238% increase in cyberattacks during the pandemic to remote work, management has expressed concerns about security risks arising when information is exchanged outside internal networks.Companies Pursuing Hybrid Work to Reduce Direct and Indirect Carbon EmissionsOwl Labs' "2023 State of Hybrid Work Report" analyzed that 54% of companies still require fully on-site work. As more companies adopt hybrid work or mandate in-office attendance, discussions on how closely work models and ESG strategies interact are expected to become even more active. The EU's recently expanded Sustainable Finance Disclosure Regulation (SFDR) now includes both direct and indirect emission sources in carbon footprint calculations for companies. Going forward, companies based in or operating within the EU market will need to calculate both direct and indirect carbon emissions according to their work models and focus on reducing their total carbon footprint. The CEO and CTO of UK office management software company Kadence, together with a Vice President at real estate firm CBRE, published the "Hybrid Manifesto for Sustainability." Through this manifesto, they expressed their ambition to find ways to achieve ESG strategy without being tied to a single fixed office, by combining both remote work and commuting. Just like the goals of the companies joining this manifesto, businesses of the future are expected to focus more on creating work environments that can simultaneously achieve improved work efficiency and the pursuit of ESG values, rather than maintaining traditional work systems.by Editor N