Business

Most Irish SMEs plan to increase or maintain investment in sustainability

Bronagh Loughlin — Tue, 05 Mar 2024 10:55:09 +0000

Most Irish SMEs plan to increase or maintain investment in sustainability

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Irish Water, Uisce Éireann published its SME Sustainability Sentiment Survey, which found that 94 per cent of Irish SMEs plan to increase or maintain their investment in sustainability.

This represents nine out of 10 Irish SMEs that plan to keep their investment in the next 12 months to meet the demand for more sustainable services and products.

About the survey

The research conducted by Behaviour and Attitudes (B&A) inspired these developments, and over 350 SMEs were interviewed.

The purpose of the survey was to get their opinion on the importance of investing in sustainability for their customers and businesses. In addition, to examine the barriers that currently exist to investment in sustainability.

What were the results of the survey?

Most of the survey respondents (73 per cent) said they intend to maintain the current levels of investment. However, over 1 in 5 responded that they would expect to raise their spending in this specific area.

The research determined that satisfying customers’ desire for more eco-friendly services and products is now the second (43 per cent) critical key driver influencing SME decision-making concerning investment in sustainability. This ranked behind cost savings (55 per cent).

Over half of the Irish SMEs (52 percent) shared they feel operating a responsible business attracts more customers too. Cost concerns and rising prices continue to be stand-out barriers to investing more in sustainability initiatives and strategies for 72 per cent of SMEs.

Lack of education or information and Government support also remains a barrier to investment for 45 per cent of SMEs.

The survey also uncovered that most Irish SMEs (64 per cent) are unaware or uncertain as to how to access support, including financial guidance and information to achieve sustainable savings.

What does the research mean, and how is Uisce Éireann supporting Irish SMEs?

This research gathered by Uisce Éireann reveals that Irish SMEs recognise the importance of providing sustainable services and products to their customers. With this in mind, most of them are planning to either continue putting money into sustainability or increase their investment to introduce new sustainable solutions and practices.

In saying that, the survey did highlight there is a lack of guidance and education for businesses surrounding sustainability.

Nine out of ten respondents shared they do not know what to do or how to access support.

Uisce Éireann is trying to tackle this by offering a suite of easy-to-access and free resources to assist SMEs in becoming more eco-friendly and cutting costs when it comes to the use of water.

This includes their Annual Certification Scheme and Water Stewardship Programme.

The decision to launch these resources comes as they recognise the challenges facing SMEs and their concerns around sustainability.

They have said SMEs understand the value of water to their business but that they desperately need to become more water-aware.

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Innovative circular program to scale up under new leadership

Business Spirit News reporting — Tue, 15 Mar 2022 08:18:25 +0000

Innovative circular program to scale up under new leadership

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System change specialist appointed to lead game-changing circular economy initiative in the UK.

The trial program of the re-use model ‘Re’ that already saved over 4 million plastic bottles from landfills, has brought Doug Morwood system change specialist, to take the initiative to the next level as MD.

The UK Research and Innovation’s (UKRI) Smart Sustainable Plastic Packaging (SSPP) Challenge has recently announced £3 million in funding to further develop ‘Re’ across the UK and save over 100 million bottles from landfills within the next three years.

Doug Morwood system change specialist, new MD for the 'Re' circular economy program.

Newly appointed MD Morwood aims higher than expected and wants to ‘reduce single-use plastic on a grand scale.'

“I am honoured to join the Re team and look forward to delivering a truly circular economy system for the UK.

We must move beyond the linear system that results in so much waste, both in terms of materials and energy,” said Morwood on his appointment as Managing Director for the ‘Re’ program.

The new MD aims to lead a data-driven change and engage various stakeholders in a ‘re-use revolution’ within and beyond the border of the UK.

He believes that engaging small and big brands alongside retailers is critical in changing the current wasteful practices, and with 'Re' they ‘have to offer a compelling alternative to the current linear system that damages our environment so much.”

Morwood adds:

“Bringing businesses together to tackle the climate and waste crises is the only way we can solve the problem; collaboration is crucial."

Customers can also easily join the movement by using the Refill App, managed by the City to Sea project, showing users the nearest refill station and places to eat, drink, and shop using less plastic.

Advanced Refill Stations – interactive stations where customers can fill a ‘Re Smart Bottle’ with a product of their choice; Image: 'Re' program

Co-Founder of Beauty Kitchen and the ‘Re’ program, Jo-Anne Chidley, is excited about expanding the impact of this project and seeing the build-up of a team under the visionary leadership of Morwood.

She emphasises that ‘this is an open initiative for all brands in the cosmetics, beauty and personal care industries’ and that they will support implementing the ‘Re’ system and help partners deliver change and ‘enter this ecosystem.’

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March 2022

Business guide to address the Ukraine humanitarian crisis

Business Spirit News reporting — Fri, 04 Mar 2022 14:04:02 +0000

Business guide to address the Ukraine humanitarian crisis

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The Office for the Coordination of Humanitarian Affairs (OCHA) appeals to the private sector to help people affected by the Russian military offensive in Ukraine.

The UN Office for the Coordination of Humanitarian Affairs (OCHA) has launched a Business Guide document as part of their humanitarian response to the military offensive in Ukraine.

The OCHA Business Guide refers to the need for immediate action, stating that “the intense military escalation has resulted in loss of life, injuries and mass movement of the civilian population throughout Ukraine and to neighbouring countries, as well as severe destruction and damage to civilian infrastructure and residential housing”.

OCHA Business Guide: Ukraine Humanitarian Crisis, Image: OCHA

OCHA appeals to corporates and enterprises to join forces with their humanitarian projects to provide financial support and assistance for the most vulnerable people in regions affected by the war.

One of the five highlighted actions is joining the Ukraine Flash Appeal that runs for a duration of three months, from March to May 2022.

The goal is to raise US$1.1 billion that would be required to help more than 6 million people impacted by the drastic Russian Federation military attacks started on 24 February 2022.

Other options to express support included in the brief are making financial and in-kind contribution, advocating and making a commercial offer.

The organisation asks that financial contributions be made through the UN Ukraine Humanitarian Fund (UHF).

The Office for the Coordination of Humanitarian Affairs (OCHA) coordinates humanitarian action to ensure that crisis-affected people receive assistance and protection.

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March 2022

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.

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January 2022

Early-stage startups in Berlin can apply for business award

Business Spirit News reporting — Tue, 02 Nov 2021 11:11:00 +0000

Early-stage startups in Berlin can apply for business award

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The Berlin Newcomer Startup Award is open for business ideas that are not yet on the market.

The Berlin Newcomer Startup Award 2021, managed by Singa Business Lab, is looking for newcomers with great business ideas who are not yet on the market.

Early-stage businesses that are on the verge of turning their concept into reality, but who may still be lacking capital, contacts or advice can apply for the award to receive support and get recognised.

With digital event formats ranging from Q&A sessions and networking events to the pitches at the award show, organisers want to enable more people to get involved.

The winner of the award can access up to 10.000€ seed capital, and additional coaching budgets, while the amount of seed capital in total is 27.500€ to be split between finalists.

Besides finalist projects get to enjoy more visibility and opportunities for networking and co-creation sessions.

Applications can be submitted online by the end of 2nd November.

Eligibility criteria to apply for the Berlin Newcomer Startup Award:

Live in Berlin, Germany.
Moved to Germany within the last 8 years, i.e. in 2013 or later.
The applicant has the nationality of one of the countries from the DAC List of ODA Recipients.
Aged over 18 years.

The six finalists preselected by the jury will be presented on the award's website for 2 weeks where public can vote on their favorite project.

Winner of the public voting will we rewarded with an extra prize of 5.000€ and 2.500€ additional budget for coaching and consulting.

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November 2021

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

Nature-based Solutions

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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.

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October 2021

Euclid Network

Szilvia Szabó — Mon, 13 Sep 2021 16:45:24 +0000

Euclid Network

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Netherlands

https://euclidnetwork.eu/

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Europe

Euclid Network is the premier European network for organisations that support social entrepreneurs and impact-driven leaders – and we are looking for new members!

Now more than ever, the social enterprise ecosystem needs collaboration and partnerships to revolutionise the world’s economy into a more inclusive system that works better for all living things and the planet.

With our members, we are leading the change and empowering social enterprises to break the mould to deliver innovative solutions towards all of the UN sustainable development goals.

New members would become part of a network that has extensive experience and a proven track record of bringing stakeholders together to advance the social economy agenda within all the EU Member States and their neighbours.

Creating a powerful unified voice of impact-driven leaders

"I see most often that social innovators are ordinary people brave enough to do extraordinary things." Fireside chat with Suzanne Wisse-Huiskes, CEO of Euclid Network

Business

January 2022

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VITA Ireland

Szilvia Szabó — Mon, 13 Sep 2021 16:27:16 +0000

VITA Ireland

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Ireland

https://vita.ie/

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Africa

As regions in East Africa experience some of the worst effects of climate change, we partner with rural communities in Ethiopia and Eritrea to create sustainable, climate smart livelihoods. Our values centre on sustainability and adaptability, with each of our programmes dedicated to not only mitigating climate change but also ensuring that partners, communities, and families are equipped with the skills, training, and resources needed to thrive.

Carbon offsetting with Vita is a straightforward and verified process. Vita creates carbon savings through clean water and fuel-efficient cookstove programmes. These life-saving programmes prevent the cutting down of trees for fuel to cook or sterilise dirty water, thereby saving carbon emissions from being released while also improving the health and livelihoods of vulnerable rural communities.

How can carbon offsetting fix climate and communities at one go?

Creating 'climate smart communities' while cutting back on carbon emissions proved a viable model to tackle the climate crisis.

Inspire

August 2021

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Guinness Enterprise Centre

Szilvia Szabó — Mon, 13 Sep 2021 16:21:04 +0000

Guinness Enterprise Centre

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Ireland

https://www.gec.ie/

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Europe

By providing a world-class entrepreneurial environment, the Guinness Enterprise Centre (GEC) empowers businesses to grow and scale their enterprises. Our vision is to be one of Europe's leading entrepreneurial superhubs and we were named the #1 University Associated Business Incubator in the World!

The GEC is the best place for ambitious and innovative companies. We provide a modern, spacious and flexible working environment supported by the best-in-class business support services.

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ISINNOVA

Szilvia Szabó — Sat, 11 Sep 2021 20:36:00 +0000

ISINNOVA

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Italy

https://www.isinnova.org/

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Europe

ISINNOVA, the Institute of Studies for the Integration of Systems, is an independent research institute that supports international, national and local public bodies, as well as private organisations, as they pursue sustainable visions and policies. They supports communities, authorities and industries, developing research-based and collaborative solutions to complex challenges.

It ideates and runs cross-discipline and cross-sector research and innovation projects that bring together public authorities, industries, research institutions and civil society. Co-creating long-term visions for sustainability and advising on the development of coherent systemic (or strategic) plans, ISINNOVA delivers concrete solutions in response to complex challenges

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research

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Sustainability

Sustainable Development Goals

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