Sustainable business

Resetting the economic game in nature’s favour

Szilvia Szabó — Wed, 05 Jun 2024 10:35:04 +0000

Resetting the economic game in nature’s favour

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Nature-positive Economy

Nature Conversation

Sustainable Business

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Sustainable business

Although companies are generally more aware of the climate crisis and are starting to set strategies to manage their carbon footprint, considering nature in goal setting and solutions should be equally essential to their plans.

The UN Environment Program estimates that declines in nature and biodiversity at current trajectories will threaten to reach at least 35 out of 44 of the targets of SDGs.

Eva Zabey, CEO of Business for Nature, a global coalition of more than 90+ partner organisations driving credible business action and policy ambition to achieve a nature-positive economy for all by 2030, says:

“Nature and climate action go hand in hand, and this is why we see nature becoming increasingly central to climate discussions.”

With more than twenty years of working at the nexus of business and nature, her expertise furthers Business for Nature's mission to encourage corporate leaders to accelerate their commitments to biodiversity and support governments in setting ambitious national and global policies in favour of nature.

They collaboratively work on advocacy projects while empowering business action with the support of their partners and leading companies.

Eva Zabey, CEO of Business for Nature

Their campaigns are making a tangible difference, such as the `Make it Mandatory` initiative, which rallied over 400 businesses with over $2tn in revenues to join forces prior to COP15, the UN`s Biodiversity Conference in 2022.

Supported by its partners, the organisation collectively called on governments to pursue a more ambitious `deal for nature` in designing the Global Biodiversity Framework, also known as the Biodiversity Plan, by making nature-related assessments and disclosure mandatory.

Their success and the result send a clear message to large businesses and financial institutions to start assessing and disclosing their risks, impacts, and dependencies on biodiversity, as governments will require them to do so by 2030 at the latest.

The upcoming COP16 will be held in Colombia in October 2024, and Eva explains why it will need to delve deeper into how nations will meet the targets adopted at COP15.

“It will be a key milestone in taking stock of progress and setting the standard for all countries to deliver the Biodiversity Plan. It will be an implementation COP, with countries publishing and showcasing updated National Biodiversity Strategies and Action Plans (NBSAPs).”

She adds that once published, NBSAPs will be implemented through national legislation and regulation that will have direct impacts, opportunities and obligations for businesses.

Business for Nature will collectively urge the adoption of a whole-of-society approach to delivering the mission of the Biodiversity Plan, which aims to halt and reverse nature loss by 2030.

On a practical level, the organisation has developed tools, guidance and campaigns to encourage more companies to transform their business models and value chains.

Developed in collaboration with leading organisations, including the Taskforce for Nature-related Financial Disclosures framework (TNFD), the Science Based Targets Network (SBTN) and the World Business Council for Sustainable Development (WBCSD), they published the `high-level business actions`, also known as the ACT-D Framework, which stands for the Assess, Commit, Transform and Disclose method.

It provides a structured approach for companies seeking to embed nature in their decision-making, minimise their impacts, and contribute to transforming our economic and financial systems.

Building on the ACT-D framework, they also collaboratively developed tailored guidance for 12 distinct sectors, highlighting each sector’s impacts and dependencies on nature, including hands-on examples and recommendations

A joint global campaign, `It`s Now for Nature`, was launched to amplify their message and get more companies involved in developing and sharing credible strategies using a Nature Strategy Handbook that spotlights best practices and provides practical step-by-step guidance.

Eva explains the importance of this campaigns:

“Rewriting our global economy’s ‘rulebook’ is essential to create a level playing field and enable business and finance to take action at the pace science demands.”

Nature Strategy Handbook highlights best practices and practical guidelines. Image: Business for Nature

Eva strongly believes that companies should act immediately, highlighting that developing nature strategies takes time but that companies that start now will stand to benefit vs those that wait.

“There is a huge amount of help and support out there, and delaying action will lead to more acute risks, and making changes will become even harder to implement. The Biodiversity Plan sets the goal and roadmap, and with new tools and leadership from pioneering companies, every business can now join the collective shift to a nature-positive, net-zero and equitable future."

"Becoming nature-positive is a global goal aiming to halt and reverse nature loss by 2030 on a 2020 baseline and achieve full recovery by 2050, which is practically the nature equivalent to climate’s net zero goals."

She further explains that nature-based solutions can provide a third of the climate mitigation needed, and the world’s oceans, plants, animals, and soils are estimated to absorb half of the human-related carbon emissions over the past decade.

Therefore, valuing and embedding nature in their decision-making will help businesses and economies reach their net-zero goals.

A strong movement gaining momentum is the Nature Positive Initiative, which aims to preserve the integrity of ‘Nature Positive’ as a measurable 2030 global goal for nature for business, government, and other stakeholders. They provide tools and guidance besides advocating for the full implementation of the Biodiversity Plan, otherwise known as the Kunming-Montreal Global Biodiversity Framework, by governments and other stakeholders.

Illustration of becoming nature positive by the Nature Positive Initiative. Image: Nature Positive Initiative

According to Eva, there is a growing community of companies that recognise they need to scale and speed up their action on nature and want to be open and transparent about their efforts.

She believes their 'It's Now for Nature' campaign offers a public platform to get more engaged.

“Indeed, voluntary business action is and will remain insufficient.

The transformation needed in our economy and within the private sector will only happen if governments urgently adopt, implement and enforce the policies, legislation, regulations and incentives needed for businesses to effectively support the implementation of the Biodiversity Plan by 2030.”

She says that aligning financial flows to nature-positive outcomes is crucial.

This should include a rapid increase in the volume of investment and realising new avenues for revenue creation, such as tax shifts and green finance.

Regarding their plans, Eva shares what she and her team at Business for Nature are working towards: “I would like us to play a key role in raising the urgency and driving action on nature to the same level as climate. This means an ever-greater recognition of the critical relationship between biodiversity loss, climate change, and sustainable development. These are interconnected issues that must be addressed together by business and government.”

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Creating scents with a difference

Szilvia Szabó — Tue, 14 May 2024 14:24:00 +0000

Creating scents with a difference

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Driving positive change can happen in every industry, and no drop is too small when it comes to sustainability.

When Benoit Nicole started his business, The Nature of Things, he was looking for key elements such as creating a line of essential oils that embody top-quality ingredients and care for the natural environment and local communities.

Building on over 20 years of experience in the perfume industry allowed him to learn from the best, know the pitfalls, and polish his senses to identify high-end raw materials and products.

Originally from the west of France, he spent decades in New York working for leading brands in the field, gathering insights on how essential oils are made, distributed or marketed for various user needs from the food industry to vitamin supplements and perfumes.

Benoit Nicole, Founder and CEO of The Nature of Things

“The best ‘noses’ in the business taught me how to smell, how oils can live together and how they can make you feel, while scientists and aromatherapists taught me the positive effects the oils can have on your health and well-being.”

He also witnessed how different strategies were built to ensure that brands were not only ahead of change but also driving change.

“In the mid-80s, sustainability was an emerging word that was not really considered in most business plans,” says Benoit.

He was inspired by other industry business leaders, like Aveeda, one of the pioneers in using organic materials.

“They pushed for organic certification before people even talked about sustainability and invested in suppliers to produce sustainably.”

He recalls that Aveeda`s founder once said, "The more we grow, the more impact we will have on the world, so it is my responsibility to ensure that we do this in a way that has a positive impact.”

After falling in love with an Irish girl and moving to Ireland in 2019, he decided it was time to put all his passion and learnings into creating his own line of essential oils that reflect his values and offer customers an extraordinary experience.

Right from the start, he understood sustainability is far too complex to be handled rigidly when it comes to managing suppliers.

“My approach is to have the best in class in my supply chain and work with distillers who care for the environment and the local community besides delivering quality materials.”

However, given that he sources ingredients from all corners of the world, such as Atlas Cedar from Morocco, Eucalyptus from Spain, Ylang Ylang from Madagascar, and Lavender from France, it is clear that a one-size-fits-all mindset won`t work.

Wherever applicable, he looks for organic and Fair Trade certificates. Still, suppliers need not be certified if their circumstances don`t allow them to.

"My extensive experience helps me decide which distillers are genuinely producing sustainable products.Visiting the sites and having conversations with owners and managers provides an opportunity to learn their true nature of business and their unique way of managing land, processes, and people.”

Instead of forcing certifications, Benoit takes the time to truly engage with suppliers, whether in person or remotely, and dig deep enough to get an overall picture of their business using different sources of information.

"For instance, if they don`t have Fair Trade, how can they offer similar assurances, like fair wages? How do they manage people who work in the fields?

All these aspects help me understand the complex system they have in place for farming the whole year round.”

He adds that these suppliers typically run smaller operations, so no big corporate policies would apply, making adapting other evaluations more sense.

Benoit explains that in these cases, looking at the environmental impact in terms of energy, water, farming practices, alternatives for pesticides like organic fertiliser, or basic solutions like plants that repel bugs can be more meaningful than being certified.

Besides managing the supply chain, he also pays attention to running a conscious company, using paper or glass packaging or higher-quality plastic that can be better recycled while minimising its impact through logistics and other operational areas.

“Although about 90 per cent of our sales are to retail, we receive enquiries from our customers asking for more information on our ingredients and sourcing regarding sustainability, which clearly shows an interest in these areas. They even send back bottles to be reused.”

He adds that The Nature of Things is a small company, so they aim to focus on the most relevant areas to minimise their environmental impact.

“I like to think that we are successful and will be successful in the future because we are going for top quality and sustainability."

To him, sustainability also means profitability, so they can be fair with suppliers and partners. Their branding and visuals reflect Benoit's love for art and his desire to present their products in a way that amplifies their natural approach and inspires customers.

To lead by example, The Nature of Things is a certified member of the Irish Organic Association and also a member of 1% For the Planet, which means that 1% of their total revenues every year is donated to support environmental causes.

“This is close to my heart, and customers and retailers know that they are contributing a little bit to a good cause.”

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Harmonising nature, science, and consciousness

Bronagh Loughlin — Tue, 05 Mar 2024 14:28:54 +0000

Harmonising nature, science, and consciousness

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The beauty industry impacts the planet in a multitude of ways.

Plastic Soup researchers analysed the ingredients in more than 7,000 beauty products and discovered that just 13 per cent were free from microplastics. Additionally, experts have discovered around 70 per cent of beauty products contain some element of palm oil, contributing to staggering deforestation around our planet.

With all this in mind, it is no surprise there have been calls for the beauty industry to go green, and the number of responsible beauty brands is growing.

Niamh Hogan, Creator and CEO of Holos Skincare, explains what inspired her to set up this innovative business:

“After years working as a Holistic Therapist and using plant oils and essential oils on clients and seeing the subtle benefits of these ingredients on their well-being, I wondered how I could encourage people to use these ingredients in everyday life."

Holos Skincare is a European brand produced in the South East of Ireland.

It is made with plant ingredients containing vitamins, minerals, essential fatty acids and antioxidants, alongside scientifically proven plant actives, chosen carefully with the environment and sustainability at the fore of all they do.

Niamh Hogan, Creator and CEO of Holos Skincare

Niamh says that while they have sustainability at the heart of what they do, their main focus is always about improving the life of the consumer.

"When customers buy Holos Skincare, they get results due to the innovative ingredients we use, and they are secure in the knowledge they are making a more eco-conscious choice when it comes to skincare.”

Speaking on why it was so important for her to embed sustainability into her brand, Niamh says: “From the beginning, it was a top priority to create a brand that could provide value but not at the sacrifice of the environment.

Each decision we make has sustainability at its core, from the ingredients we use, the suppliers we work with, the materials we use for packaging and how we conduct our everyday business.

We use glass and aluminium in most of our packaging and paper-only components for shipping."

She adds that they hand-produce products, so there is minimal energy use, and they are also vegan and cruelty-free.

"However, it doesn’t end there because we are always looking for solutions to become an even more sustainable choice for our customers.”

Sustainability is at the heart of Holos Skincare besides creating high-quality product. Image: Holos Skincare

As the green beauty and clean beauty movements continue to grow and gain momentum, it is no surprise we are seeing more brands adopting these practices to try and secure a greener future for the beauty sector.

Niamh reflects on this:

“To be successful as a beauty brand, you will not survive on sustainability alone. At the end of the day, whether you have sustainability at your core or not, if the product does not live up to the needs of the customer, it won’t be successful.”

Niamh assures that when customers shop for skincare products, they will still choose brands without an eco-focus if the products are effective.

She says: “While we have sustainability at the heart of what we do, our main focus is always about improving the life of the consumer. When customers buy Holos Skincare, they get results due to the innovative ingredients we use, and they are secure in the knowledge they are making a more eco-conscious choice when it comes to skincare.”

Niamh shares that there is a huge divide in the skincare space between what is considered ‘natural’, ‘green and ‘eco’ skincare and skincare, which is known as cosmeceutical, which is scientifically proven to benefit the skin.

She says: “Consumers usually choose one over the other based on their own needs.

Some value making an ethical choice, but when it comes to skincare, more value results. It is seldom that the two sides of skincare meet.

At Holos, we bridge the gap between ‘natural, green’ skincare and ‘cosmeceutical’ skincare. With this in mind, the consumer is no longer forced to make a choice because they get both - results and ethics.”

Whilst Holos Skincare advocates sustainability and has embedded numerous purpose-driven initiatives, they are always learning and looking for ways to improve.

Just as the phrase ‘green beauty’ is on the rise, ‘clean beauty’ has also become a trend over the past few years.

Niamh says: “Clean beauty is not a term I like. I view it as another marketing buzzword rather than focusing on what amazing ingredients a product contains. Instead, it focuses on what it doesn’t contain and using the word ‘clean’ implies other brands are somehow dirty.”

Speaking on the latest sustainability trends within the beauty industry and what she hopes will stick, Niamh shares: “Packaging is something brands are starting to look at, and the industry is obsessed with packaging.

There is huge competition to look better than the next brand, but if you go all out on packaging and your product is only mediocre, the customer won’t repurchase your products.”

She adds: “Refill isn’t a safe option for skincare, but it is a good move away from plastic for other wash and hygiene products.

Ultimately, there is a lot of greenwashing within the industry, with big brands trying to hop on the trend of being more natural, green, or eco-friendly.”

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Looking at business sustainability through the upskilling lens

Bronagh Loughlin — Thu, 01 Jun 2023 10:07:11 +0000

Looking at business sustainability through the upskilling lens

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Expert opinion by Niall Collins, Chief Operating Officer Institute of Sustainability Studies

Businesses are under increasing pressure from all stakeholders to improve the sustainability performance of their operations.

Companies must integrate sustainability principles to remain competitive, meet stakeholder demands, and stay ahead of looming regulatory requirements.

You will need the right skills and knowledge to do all this.

I worked in sustainability consulting for several years, helping organisations from all different sectors and sizes begin the first stages of their sustainability transformation.

I understood quite early on that the only way to ensure the integration of sustainable business practices into any organisation was through education and upskilling of individuals.

Niall Collins Chief Operating Officer at Institute of Sustainability Studies

Furthermore, I believe every job is becoming a green job, and all employees need to understand how their role impacts an organisation’s sustainability goals.

External consultants, like I was, can only help to a certain extent. Internal teams must have the necessary skills to implement the critical steps to improve their business. I brought this expertise to the Institute of Sustainability Studies (ISS) to enable whole organisations to internalise sustainability through learning.

ISS is an ed-tech start-up that helps individuals and organisations on their sustainability journeys by developing and delivering practical, comprehensive, and action-oriented courses that can help them implement sustainability practices throughout their operations.

Removing jargon and making sustainability practical and accessible

Despite the growing interest from business leaders in this area, I have noticed that the jargon associated with sustainability often drowns the easy means of putting things into practice. In essence, they don’t know where to begin.

We have designed two learning opportunities at ISS - a Certificate and a Diploma in Business Sustainability - to remove the cloud that covers climate change, carbon management, circular economy and other topics in this field.

For instance, to tackle regulatory barriers, we provide detailed information in our Module on Sustainability Plan Implementation on key business-friendly regulations, including the EU Taxonomy, Sustainable Finance Disclosure Regulation, and the Corporate Sustainability Reporting Directive, all of which provide greater transparency concerning the analyses of sustainability risks inherent in business activities.

A dedicated module on Sustainable Finance helps businesses learn about financial assets and benefits that bring economic and environmental benefits while tackling the barrier of limited resources.

There is a lot of misinformation out there, especially when it comes to transitioning to a sustainable business.

One of the first assumptions we break in our courses is that being sustainable means shedding more money and taking a direct hit on profitability.

However, as most of our participants have found and experienced, many easy tools will help you become sustainable without compromising your profitability.

Breaking big ideas down into quick and actionable steps

Complex and complicated concepts, such as circular economy or decarbonisation, can be broken down and translated into quick and actionable steps.

That`s also the case with the circular economy, which could be a real win-win-win for businesses, society and the environment if adopted properly.

We have a dedicated module on circularity in business and sustainable products, focusing on optimising every aspect of a product’s lifespan.

In the end, they have the ability to explore advantages and analyse the risks and opportunities associated with a circular business model.

In addition, they can assess their current organisational value chain, figure out how they can design products that better suit the circular economic model, and understand the importance of communicating their company’s sustainability journey. Participants will also understand that they can begin with small steps.

Companies can do many things, from becoming more waste friendly to actively reducing waste from daily operations and across the supply chain. Building a circular business model that supports the company`s daily operations require a clear picture of where they are now and where they are headed. Therefore, a thorough analysis is where it all should start.

The next step is to implement the R-strategies - refuse, redesign, repair, recycle, and reduce and work out a feasible revenue model that can help achieve these goals.

Putting it all together

To be motivated to implement changes, you need to see the benefits of your investment and actions. It includes the essential step of considering customers’ needs, and creating a well-researched business plan that caters to these needs most effectively is vital.

It is important to note that any plan should always have room left to adapt and improvise as per client needs. Green marketing and communication are pivotal when it comes to building a sustainable business.

Unless you get the word out about your green credentials that you have worked hard on, the success of your business will be limited.

You should find a way to be transparent and authentic in your communication while avoiding the pitfalls of greenwashing and building an honest relationship with your customers and stakeholders.

Putting the pieces together is also easier when you can share your questions and doubts with others and learn from your peers.

We always try to embrace this as we clearly see the benefits of exchanging ideas and sometimes war stories.

Headline image: Unsplash

This article is an extract from content originally published in the Circular Economy in Action special edition of the Profit with Purpose Magazine - you can read the full article and other features in the magazine.

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Europe's largest business event for sustainable transformation is back for its third edition

Business Spirit News reporting — Tue, 24 Jan 2023 14:36:05 +0000

Europe's largest business event for sustainable transformation is back for its third edition

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Sustainability solution providers, users and investors are coming together for networking and knowledge exchange.

The IMPACT FESTIVAL offers targeted networking and knowledge exchange for start-ups, investors and companies to accelerate sustainability innovation on 13-14 September 2023 in Germany.

For the third annual event, organisers aim to highlight innovative solutions provided by start-ups and scale-ups that can contribute to sustainable development and economic growth.

“We offer companies the opportunity to be at the forefront of current developments, learn about the latest innovations, and take away concrete starting points for their own business,"

said Co-Lead, Linda Köpper about the focus of this year’s event.

Attendees will have the chance to visit an extensive exhibition area and connect with innovators while learning about specific application possibilities.

Linda Köpper, Co-Lead of IMPACT FESTIVAL, the biggest B2B sustainability event in Europe.

Talks, discussions and workshops will take place, including experts, visionary innovators and practitioners from related fields such as sustainable finance, circular economy, clean tech and more.

Maria Steinbrenner, the other Co-Lead of the event, highlighted:

“This year, more than ever, we want to focus on companies that are looking for concrete solutions and best practices for their challenges or want to network and position themselves in the field of sustainable transformation.”

IMPACT FESTIVAL provides opportunities for enterprises to directly promote their sustainable products and services to potential clients, users and investors to advance their business ambitions further.

IMPACT AWARD winners in 2022 received recognition and supports. Image: IMPACT FESTIVAL

The IMPACT AWARD will be awarded to European start-ups addressing the most pressing societal challenges through sustainable technology and innovation.

This two-day annual event first took place in September 2021 and has grown from strength to strength ever since developing an extensive all-year-round supporting program, including IMPACT WEEK, webinars, podcasts and an online magazine.

The registration of interest to purchase tickets is available on the event`s website.

IMPACT FESTIVAL is a project of the neosfer GmbH, the early-stage investor and innovation unit of Commerzbank Group, aiming to accelerate sustainable transformation.

Its purpose is to investigate future technologies relevant to business and society while promoting and developing sustainable digital solutions.

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Innovation and sustainability trends showcased in Dublin

Business Spirit News reporting — Mon, 17 Oct 2022 09:50:05 +0000

Innovation and sustainability trends showcased in Dublin

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Event to connect Innovation, Sustainability and Technology in Ireland.

The Furthr Festival will present game-changing innovations, future technology, and business opportunities in sustainability on Friday, 21st October, at the Convention Centre in Dublin, Ireland.

The event, previously known as Futurescope, comes under a new name and branding but with the same passion for bringing together business leaders for a day of inspiration, learning and networking.

Attendees can explore topics across five main stages focusing on Insights, Innovation, Sustainability, Transformation and Investment with more than 100 high-profile international and Irish speakers.

Keynote speeches include topics like Guardians of the Future, presented by Sophie Howe, Future Generations Commissioner for Wales and Think global: Move quickly, delivered by Michael Culligan, CEO at Furthr.

The event is best suited for innovators and innovation seekers looking for trends, insights, ideas and connections to take their businesses to the next level.

One of the highlighted sessions will be the One2Whatch startup competition, where pre-selected innovators will pitch for the ten thousand Euro cash prize and become crowned winners as the most promising startup.

With an expected attendee number of around 1600, this is the ultimate meeting point for business leaders striving to be at the forefront of change, unlocking market opportunities.

Additional highlights of the conference include the Future Tech Arcade, The Innovation Exchange, panel rooms, an exhibition area and plenty of networking opportunities during lunch and the after-event drink reception.

One2Whatch startup competition at Furthr Festival with 10K prize money. Image: Furthr

A particular emphasis will be on facilitating collaboration opportunities between diverse stakeholders such as startups and scaleups, investors and academia.

Tickets are available on the event’s webpage.

Furthr, formerly Dublin Business Innovation Centre, has accelerated funds and connections for Irish startups since 1988, empowering entrepreneurs to advance their ambitions.

Over the years, Furthr has helped Ireland’s innovative startup founders to raise a total of €500+ million.

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Prosocial disruption delivered by a distillery in Dublin

Bronagh Loughlin — Tue, 21 Jun 2022 12:32:14 +0000

Prosocial disruption delivered by a distillery in Dublin

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Dublin-based company is changing industry practices by designing its spirits through the lenses of science, community and nature.

Viki Baird, Co-Founder of the Stillgarden Distillery, explains their pro-social approach to building and running their business.

She says, “We try to promote social activity but in a different way. For example, we transformed an area of wasteland which was near the distillery. It was full of all sorts of junk, and we turned it into a botanical garden and recruited several ‘Social Botanists’ throughout the first Covid lockdown. We gave people growing kits, which they took away and grew the botanicals at home.”

The Social Botanist project was launched by Stillgarden Distillery in Dublin. Image: Stillgarden Distillery

When the plants had outgrown the boxes, everyone returned and together with the organisers, they planted them in the botanical garden.

After harvesting those botanicals, they collaborated with the botanists to create what they call a ‘Social Gin’.

The distillery gave the botanists three different flavours to choose from, all made with the plants they had grown at home. In this way, local people are playing an essential part in creating this community-based drink.

The company is on a mission to bring our spirit of prosocial disruption to the world through science, community and nature.

Viki explains further: “The science component refers to the fact we have a lab here and lots of excellent equipment like an ultra-sonic ager, and stuff like that which allows us to create different and innovative products.

About the nature side of things, one of our main community projects is the Social Botanist Project, which takes place weekly, so we get new people signing up. We also do on-site garden tours where people can come along for 10 euro, and for that price, they get to look at the garden and enjoy a free drink on our terrace.”

Viki details how the Social Botanist Project works:

“We have hydroponic boxes, and we plant them up for people to take away. There are about eight different botanicals and a special light in each one which helps them grow quicker. It is vital that they grow quickly to enable people working on the same projects to keep up and meet up.

While driving through this area, you can spot some of these boxes on people’s windowsills.

For us, it means people are getting involved and also inspires us to look for other areas of wasteland where we can plant botanicals and engage more social botanists.”

“We try to reuse as much as possible and use this mindset in every aspect of our business.

This includes the packaging we get in, which we reuse where possible in our delivery system. Also, when we make our espresso martini, we take used coffee grains from local coffee shops and reuse those to create this specific drink.

Some of our other gins utilise many healthy materials, which we dry after making our gin and use in tea bags. If there is something we can’t reuse from our ingredients, we give it to local farmers for chicken feed.”

They also run a return your bottle scheme where they give people a discount if they return their bottle and their stopper, andreuse these items rather than put them into the bottle bank.

Viki shares why they have taken this unique approach:

“Because we are called Stillgarden, we always wanted to have a garden on our premises.

Viki Baird, Co-Founder of the Stillgarden Distillery

During the first Covid lockdown, people came to us, just chatting with us, saying they were bored and looking for something to do during the downtime.”

Since they have reopened, there is a great variety of outdoor and indoor experiences that they can offer to visitors, including garden tours and gin tasting.

Eventually, these projects inspired them to do their community-based projects, and the reaction to their efforts was overwhelmingly positive, getting great support from their customers and the local community.

Headline image: Geraud Pfeiffer, Pexels

This content is a piece of an article originally published in the "Make change happen" issue of Profit with Purpose Magazine.

The Summer 2022 edition of the magazine is focusing on making cities sustainable and inclusive, and is available here >>>

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New program preparing Dublin-based businesses for rapidly growing Green Economy

Business Spirit News reporting — Fri, 28 Jan 2022 12:51:15 +0000

New program preparing Dublin-based businesses for rapidly growing Green Economy

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Micro and small enterprises in Dublin can join a new Circular Economy training program to become more sustainable and unlock business potential.

The MODOS Circular Economy training and mentoring program provides practical knowledge and networking opportunities to SMEs in the Dublin City and Dún Laoghaire-Rathdown areas in March and April 2022.

With business trends shifting rapidly towards sustainability, it is inevitable for all shapes and sizes of enterprises to take up this challenge and turn it into an opportunity for innovation and growth.

The four interactive online training modules are designed to help embed sustainability into business strategy efficiently and effectively while fostering innovation and profitability.

Up to twenty participants per program will learn from highly renowned experts about Circular Economy, carbon management, resource efficiency, supply chain sustainability, and engagement.

“MODOS helped me to apply circular economy principles in my business. I was able to appraise in real terms how small changes in processes can yield big results (and higher margins). Completing the MODOS program was an important step in working towards the goal of carbon neutrality for my company,” says John Burke from Burke’s of Rathnew Homevalue business about his experience of the training.

Besides the learning sessions, enterprises can benefit from networking, mentoring and an opportunity to promote their sustainability credentials.

Free to join online information sessions will be held on 2nd and 3rd February 2022, where businesses can learn more insights.

The program is designed for businesses active in all sectors who have been trading for a minimum of 6 months, with 1 to 250 employees.

Kate Purcell from Green Aware, who participated in a previous MODOS training, said that

’the information and guidance provided during MODOS were instantly practical’ and that ’the course resources are relevant to every organisation, no matter where they are on their sustainability journey.’

Dublin City Council and Dún Laoghaire-Rathdown County Council brought the program to life in response to the challenges facing micro and small enterprises in building their capacity and understanding of Green Business and the Circular Economy.

With funding from the Environmental Protection Agency, the cost of the programme is subsidised, making the course more accessible.

Headline Image: LinkedIn Sales Solutions on Unsplash

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New action plan urges finance sector to scale nature-based investments

Business Spirit News reporting — Fri, 08 Oct 2021 15:01:33 +0000

New action plan urges finance sector to scale nature-based investments

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Natural Capital

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‘Triple Crisis Action plan’ was launched to call upon investors to embrace natural capital solutions at scale to address climate challenges.

A natural capital investment firm, Cultivo launched a ‘Triple Crisis Action plan’ to call upon financial institutions, corporate investors and private capital to address the triple planetary crisis of global warming, biodiversity loss, and water stress.

With this 5-step action plan, Cultivo wants to help unlock investment opportunities in nature at scale to address these emerging global threats.

The company promotes the approach that natural capital is an emerging asset class that values the natural world.

In their opinion, this economic strategy makes it clear why a tree is worth more alive than dead.

“The triple crises of climate change, biodiversity loss and water stress are interconnected, and we must address them together and with urgency.

High-quality nature-based solutions can tackle these triple crises, and we need to unlock investment in nature at scale and at speed.

It is critical we take a holistic approach when it comes to investing in nature,” says Dr Manuel Piñuela, Co-Founder and CEO of Cultivo, on why they created the action plan.

Dr Manuel Piñuela, Co-Founder and CEO of Cultivo, Image: Cultivo

In the light of the latest alarming IPCC report (Sixth Assessment Report), Dr Pinuela and his team felt the need to activate the finance sector and mobilise more private capital in investing in nature-based solutions.

The Intergovernmental Panel on Climate Change (IPCC) is the UN body for assessing the science related to climate change.

It provides political leaders with periodic scientific assessments concerning climate change, its implications and risks, as well as to put forward adaptation and mitigation strategies since 1988.

The recent IPCC report provides new estimates of the chances of crossing the global warming level of 1.5°C in the following decades and finds that unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C or even 2°C will be beyond reach.

IPCC-2021 report, The Physical Science Basis Summary for Policymakers, Image: IPCC

Dr Piñuela adds: “We hope that the hard-hitting nature of this year’s IPCC report helps galvanise us all into action and gives private financial institutions and corporations across the world the motivation to work with us and adopt the plan we are launching today.”

According to Cultivo, research shows that by 2050, total investment needs for nature-based solutions will amount to USD 8.4 trillion cumulatively, reaching over USD 536 billion per year, four times the amount invested today.

Currently, only 14% of finance for nature-based solutions comes from private capital.

Therefore, scaling investment from private capital companies is essential to fill the trillions of dollars of financing needed.

To bridge this gap, Cultivo is proposing a 5-step action plan for investors and private capital:

Offer nature as an attractive asset for investment
Use technology to reduce transaction costs and create market efficiencies
Take a holistic approach
Measure the right attributes, and choose the right standards
Make data transparent

One example of Cultivo’s Action Plan at work can be seen in Northern Mexico, where they are working with landowners to restore degraded land using Sustainable Grasslands Management.

The project will reintroduce bison to the area, which is a step towards restoring the region to pre-human levels of biodiversity.

The region acts as an international biodiversity corridor that serves as a habitat to species, such as an endemic subspecies of black bears, puma, wildcat, coyote, etc.

Of the animals, 63 of these species are under some risk category, out of which 8 are endangered species.

The restoration of grasslands will also generate certified carbon credits and means the project aligns to SDG goals related to Life on Land and Climate Action.

Dr Piñuela and his team work passionately to prove that investing in natural capital can generate healthy financial returns for investors, nature and society.

They use proprietary algorithms and technologies to find high-quality nature-based projects and then packages them into investment products targeted at financial institutions.

Offsets generated by these projects are then sold, providing returns to investors and a long-term reliable income to landowners and local communities.

Headline image: niko photos on Unsplash

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4 ways to fund your green business idea

Collaborative Content Studio — Tue, 07 Sep 2021 15:34:47 +0000

4 ways to fund your green business idea

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How to unlock funding opportunties to turn a green business idea into a reality?

An increasing number of entrepreneurs feel more empowered to launch their green businesses.

In essence, a “green” company strives to positively impact the environment and community besides generating profit.

The strategies and practices developed by green businesses are committed to lowering their overall environmental impact and building a more sustainable future.

Aside from putting forward their sustainable beliefs and advocacies, green business owners are also tapping into a rapidly growing market.

In fact, Markets and Markets note that the environmental technology market is expected to reach £502.94 billion by 2029, thanks to a compound annual growth rate of 4.6%.

Besides, the Convention on Biological Diversity’s Global Biodiversity Outlook 5 notes that businesses that recognise the importance of nature and protect it tend to perform better on the market.

If green businesses are indeed the future and you have an idea that fits here, you would still need to know how to find funding for it. Here, we list four ways you can raise capital for your green business.

Take out a small business loan ⁠

The first option that most startups or early-stage businesses go for is to take out a small business loan.

For one, small business loans have lower interest rates and more flexible terms than credit cards and other loans.

What’s more, you can take out a small business loan from a variety of financial institutions ⁠— from respected national banks to friendly credit unions.

And many of these institutions offer loans to encourage small businesses.

For example, HSBC launched a green loan in excess of £300,000 for companies that put sustainability first. To be eligible, they need to provide green credentials.

Small business loans are probably the easiest and fastest way you can access funding.

Small business loans could help green businesses. Image: Unsplash

Look for investors

If you’re confident with your green business idea and it has the potential to scale, you should look for investors who can provide you with the necessary capital.

The great thing about being funded by investors is that there are many ways people can support your business idea.

For one, you can start a crowdfunding campaign where you bring awareness to your business idea and potentially gain numerous investors to pitch for your capital.

You can also look for angel investors to fund your business idea as these individuals have a strong interest in innovative and transformative businesses.

With a great pitch and robust business model, you will have a great chance of attracting suitable investors.

Bootstrapping through investment opportunities

If you don't have a good credit history, it can be challenging to get loans from banks or funding from investors, especially if you are a new business.

If a financial institution or investor has turned you down, you can choose to finance your green business by looking for investment opportunities with high returns.

For one, you can earn business capital by doing forex.

Looking for investment opportunities with high returns is one option to kick-start a green business. Image: Unsplash

Small Biz Club highlights how forex trading can help you save a nest egg to fund your business, as long as you take the time to learn the ins and outs of this investment opportunity.

Thankfully, getting started with forex is easy since reliable trading platforms are available that will ease you into investing.

FXCM’s MetaTrader 4 can be easily downloaded and allows users to use a demo account to gain confidence before making any actual money trades.

Forex is a good way to create passive income that you can funnel into your green business.

Another investment opportunity that can provide quick and high returns are short-term corporate bonds.

Simply put, these are bonds issued by major corporations and pay interest at regular intervals every year.

In addition, corporate bonds are incredibly liquid.

They can be sold at any point before their maturity date ⁠— making them the perfect high-return investments for those who want to bootstrap their business.

Open a high-yield savings account

If you don’t want to go through impressing investors and are wary of taking out loans, you can save up your green business’s capital in a high-yield savings account.

The interest you earn in a high yield savings account can be as much as 10 times the interest you earn with a traditional savings account.

This makes high-yield savings account the perfect place to store your money when saving up for business capital.

What’s more, the arrival of internet-only banks has raised the competition on savings rates, so you now have more choices when saving up capital for your green business.

The only downside is that you will have to already have a large sum of initial funds for this to work.

Looking into trends and markets, there is no doubt that green businesses will grow stronger and gain more ground.

Finding the right funding is critical for entrepreneurs to start and scale their sustainable business ideas.

Headline image: Unsplash

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