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The Canadian auto sector and governments appear united in saying the huge subsidies sunk into securing a Canadian dollars CAD7 billion (USD5.1 billion) Volkswagen battery plant in St Thomas, southern Ontario, make good commercial and economic sense.

The level of financing could indicate what the Canadian and Ontario governments will have to spend to persuade Stellantis to restart stalled work at its planned battery manufacturing plant in Windsor, across the border from Detroit.…

Paint and coatings manufacturers and suppliers in the European Union (EU) will face another set of detailed sustainability rules, through the passage into law of a revised EU classification, labelling and packaging (CLP) regulation. EU chemical industry association CEFIC is one body that has warned that supply chain problems could follow, with the availability of chemicals and chemical products being restricted or blocked should producers and importers not comply with the new controls.…

The G7 group of industrialised nations has promised to ramp up sanctions against Russia over its invasion of Ukraine, including additional efforts to prevent circumvention.

Following a summit in Hiroshima, Japan, the group warned G7 members increase engagement with “third countries through which restricted G7 goods, services, or technology may be provided to Russia…”

It called on “third parties to immediately cease providing material support to Russia’s aggression or face severe costs”.…

Counter Proliferation Financing (CPF) is becoming an increasingly important third goal of international policies and programmes designed to attack and reduce illicit financial movements. With concerns about the development of nuclear weapons by sanctioned regimes in North Korea and Iran growing, governments have been focusing on how to implement Financial Action Task Force (FATF) guidance on CPF, which has been deepening since the global anti-money laundering and terror finance body in 2020 amended FATF Recommendation 1 and its Interpretive Note to require countries and entities to identify, assess, understand and mitigate their PF risks.…

The Brazilian textile sector has been increasing investment in digital printing, modernising its finishing to boost international competitiveness to offer near-sourcing services to American and European clients as western buyers review their China sourcing.

India-based business intelligence service Infinium Global Research, in a report sent to Digital Textile, said the Brazilian digital textile printing market was worth USD28.37 million in 2022, projected to rise to USD75.25 million by 2030.…

Accountants and auditors have been asked to contribute to an International Sustainability Standards Board (ISSB) review of its sector specific SASB standards, to make them more applicable worldwide. The ISSB has taken responsibility for the former Sustainability Accounting Standards Board (SASB) standards, which companies using its IFRS S1 and S2 standards on general sustainability and climates must consider when drafting sustainability reports.…

Fashion brands have been warned to step up online security as the industry becomes increasingly digitalised and Russian hackers pose an increased risk as the country’s military struggles to maintain its invasion of Ukraine. 

While digitalisation brings enhanced sustainability, reduced waste, stricter inventory management, personalised designs, smart wearable tech garments, AI-enabled virtual fittings and integrated supply chains, increasing online data offers bad actors additional attack vectors, said Maryland, US-based cyber exposure management company Tenable. …

The UK Serious Fraud Office (SFO) says that it is “on track” to implement in full all Brian Altman QC’s July 2022 recommendations (1) for improvement after its failure to disclose key evidence led to the collapse of the high-profile trial against two top Serco executives in April 2021.…

The European Union (EU) is to secure harmonised penalties and criminalisation of corruption offences across the 27-nation bloc and a global sanctions regime potentially punishing graft elsewhere in the world, under proposals unveiled in Brussels May 3. The European Commission proposal for a directive on combatting corruption (1) would require EU countries to ensure law enforcement and prosecutors have appropriate investigative tools to fight corruption, immunity is lifted during investigations and the statute of limitations on prosecutions is at least eight to 15 years depending on the offence.…

The UK government has recovered just GBP10 million (USD12.5 million) of the suspected GBP2.2 billion (USD2.75 billion) lost in fraudulent or erroneous payments under its Covid-19 business support schemes, according to the House of Commons public accounts committee (PAC). In its scrutiny of the department for business, energy & industrial strategy’s annual report and accounts 2021–22, the committee noted that the department does not expect to recoup almost GBP1 billion (USD 1.25 billion) paid out to local authorities by the government during the pandemic as business support grants.…