Electrifying everything should start with the masses

February 26, 2021 by  
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Electrifying everything should start with the masses Sarah Golden Fri, 02/26/2021 – 00:45 The case for electrifying buildings is a no-brainer. It makes buildings healthier , cheaper and is essential to addressing climate change (building operations account for 28 percent of emissions globally — more than all of the transportation sector). That doesn’t mean electrifying buildings will be easy. Beyond the coordination needed between building owners, contractors and occupants to retrofit buildings, electric appliances still have a higher upfront cost (although they are cheaper over the life of the appliance). That means the early adopters tend to be affluent individuals (think early Tesla owners) or companies with healthy profit margins (such as Google and Microsoft).  BlocPower , a New York-based startup, wants to flip that path to adoption upside down. Its vision is to finance all-electric upgrades for buildings in low-income communities to accelerate the speed and scale of deployments.  “We have to start with the mass market and communities of color, and offer them services and projects that make sense to their budget in order to reduce greenhouse gases on a time frame that makes sense,” BlocPower CEO Donnel Baird recently said on the podcast Watt It Takes . This week, the company announced a Series A funding round to the tune of $63 million, led by The Goldman Sachs Urban Investment Group. The fund will enable BlocPower to expand and scale its inner-city energy retrofits to projects across the nation, with $49 million going toward low-income residential buildings and $6 million dedicated to low-income small commercial buildings, houses of worship and other community buildings.  Core to this strategy is keeping the benefit of building electrification in these communities — creating jobs, improving health and saving households money. It also is a glimpse into financing models that can help commercialize technologies, while ensuring all communities have access to climate tech.  Financial innovations are as important as technological innovations There is a beautiful dance between finance and technology that can scale clean energy technologies: Prices fall when deployments increase; deployments increase when prices fall. The challenge is getting this virtuous cycle going. Early technologies are expensive and can have bugs, which can scare away early adopters. Financial innovations can help by jumpstarting the mainstreaming of clean technology and removing the risk from customers. The classic example of this in action is solar , where the innovation of solar loans and leases led to the proliferation of rooftop solar. This supported the rapid reduction of price, with utility-scale solar reaching 6 cents per kilowatt-hour in 2017 — three years before the Department of Energy’s ambitious SunShot goal , once seen as unrealistic.  Many clean energy technologies save money over time, so upfront finance can be a great investment. It’s one reason why there has been a rise in companies that offer energy upgrades as a service — the offtaker pays a subscription fee that is more than offset by energy savings, while the owner of assets gets a return on its investment.  BlocPower is taking this principle and applying it to low-income neighborhoods, often overlooked in financial innovations, and electric appliances, in need of rapid commercialization before they can scale to meet the climate challenge. Keeping economic benefits of clean energy local BlocPower’s model goes beyond bringing the energy savings to poor neighborhoods; it is also working to keep the wealth creation local.  According to Baird, the financial product developed with Goldman creates a holding company that owns the clean energy equipment available to low-income building owners. The twist is these holding companies could be co-owned by low-income community members and nonprofits, so they benefit from the dividends.  “So now the idea or concerns about, ‘How do you get people of color or low-income people in the climate movement?’ Well, we’re going to give you an economic stake,” Baird said on Watt It Takes. “We’re going to give you equity, not just in terms of, ‘Are we going to treat you fairly?’ Equity in terms of, ‘We’re going to give you stock in a new corporation that we’re co-creating so that you have financial incentive to participate in the clean energy economy.” Relatedly, BlocPower strives to create local jobs within the communities where building upgrades occur. While the details of job training aren’t spelled out in the company’s funding release, the idea is solid; workforce training uplifts communities and keeps people engaged in the clean economy.  And there will be enough jobs to go around. Rewiring America , a think tank that has done detailed accounting into what it would take to curb U.S. emissions, estimates that electrifying everything (buildings, transport and industry) would create upwards of 25 million jobs in America alone.  Building electrification is worth it From a climate perspective, electrification is an imperative . There just isn’t a path to a safe climate future without addressing natural gas in buildings. But even if that weren’t the case, electrification is great for building occupants. From a cost perspective, electrification will slash energy bills in new construction and in many retrofits today. Looking forward to the cost of electricity in the years to come, Rewiring America determined that the average American household would save an average of $1,900 per year by going all-electric — including financing to switch to electric appliances and cars.  This is especially valuable for communities of color, who disproportionately suffer from energy poverty, meaning they struggle to afford baseline energy needs. As a percentage of income, Black households pay upwards of threefold more than white households for energy. Relieving monthly expenses associated with inefficient and dirty energy is a natural way to uplift communities and help keep money local.  From a health perspective, a growing mountain of evidence shows natural gas appliances in homes can be dangerous, with research from UCLA showing they produce a range of air pollutants inside homes that can have acute and chronic health impacts. This is especially bad in smaller apartments — where low-income families tend to live.  Want more great analysis of the clean energy transition? Sign up for Energy Weekly , our free email newsletter. Topics Energy & Climate Featured Column Power Points Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off Exterior view of new multifamily residential building facade under construction in San Jose, California. Image by Shutterstock/Michael Vi

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Biden and the future of clean energy politics

January 22, 2021 by  
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Biden and the future of clean energy politics Sarah Golden Fri, 01/22/2021 – 01:00 Have you heard about the clean energy triangle?  The theory goes that in order to rapidly deploy clean energy, you need three elements: technology; policy; and finance. When these components are integrated, we’re able to thoughtfully accelerate the speed and scale of clean technologies. The technology is there and is getting better. The finance is following as investors see there’s money to be made. The only missing piece, before this week, has been policy.  The inauguration of Joe Biden as president is the dawn of a new political era; for the first time, the stars are aligning for the clean energy sector to unleash its full potential.  Biden’s position on clean energy is as diametrically opposed to his predecessor as this analyst can fathom. On his first day, the new president signed executive orders killing the controversial Keystone XL pipeline and recommitting the United States to the Paris climate accord. As a candidate, Biden called for 100 percent clean energy in the U.S. by 2035. He’s integrating climate experts across all departments in “the largest team ever assembled inside the White House to tackle global warming.” The political sea change is larger than the whims of a single politician. It’s a reflection of the growing, influential force of the clean energy sector itself that will be difficult for serious politicians to ignore forevermore.  How clean energy pros helped POTUS land his new job Biden didn’t always make clean energy his issue. He responded to the public’s growing concerns about climate change and listened to experts about its immense economic potential.  That didn’t happen by accident. The clean energy sector has been growing and maturing for years, and in this election cycle, it helped Biden land his dream job thanks in part to the all-volunteer organization Clean Energy for Biden (CE4B) .  “I’m not just hopeful, I’m pretty convinced [clean energy professionals were politically influential],” Dan Reicher, CE4B co-chair and former U.S. Assistant Secretary of Energy, told me in a phone conversation. “They’ve shown themselves to be very capable in President Biden’s victory and made a real difference.” CE4B brought together more than 13,000 individuals in all 50 states, including 40 regional affinity groups in key locations across the county. It raised $3.2 million through more than 100 fundraisers and held hundreds of phone banks to get out the vote. The effort brought together impressive, diverse and passionate professionals  excited about leaders who understand clean energy. (Full disclosure: I’m a volunteer for CE4B.) The success of the CE4B’s organizing and campaign efforts inspired organizers to spin out a newly formed nonprofit, Clean Energy for America, which will support candidates and policies that will accelerate the clean energy transition at the state and national levels.  “Clean Energy for America is a recognition that the transformation that we need to address our clean energy challenges and opportunities needs to happen up and down the ballot,” Reicher said. “It’s not enough to work on a presidential campaign and then close up shop. We’ve got to continue on a variety of races on the national level, but we have to get really focused on state and local races as well.” It’s also a recognition that clean energy professionals are realizing their power and are here to stay. As clean energy continues to disrupt dirty energy incumbents, the sector will grow in numbers and power. It also means those in power today will decide the policy levers that shape our energy future; who benefits and in what way.  Clean Energy for America is continuing with the key tenets of CE4B, organizing around the principles of justice, equity, diversity and inclusion to ensure that the clean energy transition is a just transition for all. The long road to Clean Energy for America  Before Clean Energy for Biden, there was CleanTech for Hillary. Before that, there was CleanTech for Obama.  The evolution of the name — from cleantech to clean energy — is a reflection of the industry itself.  “We treated it as a technology play, not ready for prime time,” said Reicher, who was involved in each organization. “We now call it clean energy. We had decided we had become mainstream; we were no longer a large tech sector backed by venture capital communities. It is a large, mainstream energy sector backed by large investment firms around the U.S. and world.” Today, millions work in clean energy (about  3.4 million before the start of the pandemic), and those numbers translated into a larger network.  “We still marvel today at how fast [CE4B] grew to 13,000 people,” Reicher said. “We never saw that level of growth in the other organizations.” With the birth of Clean Energy for America, the group is poised to continue to mobilize in races quickly. That, combined with the virtuous cycle that promises millions more Americans will be employed by clean energy in the coming decades, plants a clean energy flag in the sand.  Topics Renewable Energy Energy & Climate Jobs & Careers Wind Power Solar Featured Column Power Points Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off Image courtesy of Shutterstock

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It’s time to bridge the clean energy partisan divide

November 13, 2020 by  
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It’s time to bridge the clean energy partisan divide Sarah Golden Fri, 11/13/2020 – 00:30 Partisanship runs deep in America.  We’ve self-organized so our neighbors, friends and social media agree with us, and we gravitate voices who are increasingly vitriolic towards those who don’t. Is it any wonder our empathy muscles have gone into atrophy? But we might be on the precipice of a new era. Last week, the United States elected a new commander-in-chief who is less shouty and divisive. Joe Biden leaned into this brand during his first speech as president-elect Saturday, declared that now “is the time to heal.”  The clean energy sector is not immune to divisions. So let the healing process begin — starting with our own house.  The clean energy divide: the pragmatists versus the enviros A rift is deepening within the clean energy sectors: those who advocate for steady, incremental change; and those who demand urgent transformational change. For lack of more precise terms, I’ll dub these two camps “pragmatists” and “environmentalists,” aka “enviros.” Enviros have long been marginalized by the powers that be, labeled as elitist, unreasonable and/or not understanding how the system works. I’d expect that from incumbent energy forces, and I’m disheartened to hear the extent to which these judgments have infiltrated clean energy spaces.  With increasing frequency, I hear clean energy and corporate sustainability professionals publicly dismiss enviros, implying they have an ax to grind against big business, big agriculture, big oil — as though environmentalists are irrational, rather than responding to decades of corporate malfeasances that allowed an elite few to profit through unsustainable extraction and a disregard for the communities they affect. We need environmentalists to be unflinchingly clear on what is needed to have a chance at a safe climate future. This despite the fact that big green groups, from Sierra Club to Greenpeace to the Natural Resources Defense Council, regularly produce rigorously researched and prescient reports that often foreshadow where mainstream thinking follows.  Likewise, I’ve seen environmental organizations categorically demonize pragmatists, despite ultimately wanting the same thing: a safe climate future. Of course, fringe enviro groups peddle misinformation and anger, but they are truly the minority. Defining the group by its outliers is how we got into this partisan mess in the first place. We can do better.  The importance of a moral compass  Here’s the thing: Enviros are usually right. The pure moral compass isn’t about being holier than thou; it’s because physics is poor at compromises.  Corporations often look at the demands of climate activists and call them unreasonable, pointing to the speed of adoption of technologies and development of markets. But enviros are in no better position to change the rules of climate change than the Lorax was to change the ecosystem needs of the truffala tree. We need environmentalists to be unflinchingly clear on what is needed to have a chance at a safe climate future. And it will feel unreasonable, because in reality we need to move unreasonably quickly to get to where we’re going.  Let’s be more than the sum of our parts The Biden administration has the most bullish climate plan America has seen, and the clean energy sector is about to be thrust into the limelight. Instead of infighting, clean energy factions should use this moment to push and pull each other towards rapid decarbonization. Enviros aren’t an impediment; they’re an asset. They provide a guiding light to push all companies and communities to do more, to move faster and to never pretend half measures are complete solutions. They provide cover for politicians to be ambitious. And they remind all of us that anything less than a holistic solution isn’t a solution.  After all, if we can’t heal the fissures separating us from those working towards the same goals as us, what chance do we have of healing anything else?  This essay first appeared in GreenBiz’s newsletter Energy Weekly, running Thursdays. Subscribe here . Pull Quote We need environmentalists to be unflinchingly clear on what is needed to have a chance at a safe climate future. Topics Energy & Climate Policy & Politics Clean Energy Featured Column Power Points Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off Shutterstock KieferPix Close Authorship

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It’s time to bridge the clean energy partisan divide

How these 2 environmental justice leaders are connecting communities to the clean economy

November 10, 2020 by  
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How these 2 environmental justice leaders are connecting communities to the clean economy This frank conversation with two respected environmental justice leaders will explore how companies can become authentically involved in shaping economic and environmental development programs at the city and state level. This session was held at GreenBiz Group’s VERGE 20, October 26-30, 2020. Learn more about the event here: https://events.greenbiz.com/events/ve…   Watch our other must-see talks here: https://www.youtube.com/channel/UCwW3…   OUR LINKS Website: https://www.greenbiz.com/ Twitter: https://twitter.com/greenbiz LinkedIn: https://www.linkedin.com/company/gree… Instagram: https://www.instagram.com/greenbiz_group Facebook: https://www.facebook.com/GreenBiz YanniGuo Mon, 11/09/2020 – 17:17 Featured Off

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A vote for clean energy

October 16, 2020 by  
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A vote for clean energy Sarah Golden Fri, 10/16/2020 – 01:45 I recently joined the most impressive group of clean energy leaders I’ve known, and it happens to have come together in support of Joe Biden for president. The network: Clean Energy for Biden (CE4B).  It includes more than 9,500 clean energy professionals in the public, private and nonprofit sectors. There are entrepreneurs, engineers, policymakers, technicians and investors. There are thought leaders I’ve long admired and business leaders that have made clean energy more accessible to all people. Clean energy professionals as a voting bloc CE4B is evidence that the clean energy sector is, perhaps for the first time, a significant voting bloc in the United States.  Before the start of the COVID crisis, the clean energy sector employed nearly 3.4 million Americans in all 50 states. In 42 states, more people are included in clean energy than in the fossil fuel industry. If mobilized, these millions of Americans could have a major impact in this and future elections.  CE4B shows that support for clean energy as a voting issue is already widespread. The self-organizing, all-volunteer effort has more than 25 active state teams and organized more than 100 grassroots events, which collectively have raised more than $2.6 million on behalf of the Biden campaign.  The executive council is more than 50 industry leaders, including household names (for energy nerds) and representation from major companies, including Kate Brandt of Google, Jigar Shah of Generate Capital, Kate Gordon of California’s Office of Planning and Research and Jon Wellinghoff, former chair of the Federal Energy Regulatory Commission. Why get political now? We don’t write about politics much at GreenBiz (although I’m sure regular Energy Weeklyians have a sense of my personal politics).  Much about this presidential contest is outside of the purview of my job as an energy analyst. But when it comes to accelerating the adoption of clean energy, I would be remiss to not call attention to what may be the starkest difference in energy platforms in American history.  If I may simplify the two men’s stances, Donald Trump’s energy policy looks backward to the energy that powered our past, and Biden is looking forward to the fuels of the future. I’m not going to dive into either candidate’s specific platform; others already have written much on the topic. Rather, I’m here to highlight that candidates who support clean energy policy are also supporting economic, climate and social justice policies.  Clean energy policy is economic policy As the economic fallout of the COVID pandemic is coming into focus and the job creation is leveling off, the clean energy transition represents an opportunity to put Americans back to work.  First, clean energy is more jobs-rich than fossil fuels, meaning more people are employed per unit of energy created. A 2010 study found that for every $1 million invested, oil and gas would create roughly five jobs, while wind and solar would create 13 or 14 jobs.  Second, clean energy jobs are distributed. While dirty energy is usually centralized — think coal miners in West Virginia or roughnecks in North Dakota — clean energy manufacturers, technicians and installers are needed in every community, and provide options at every skill level. According to E2, all but two of America’s 3,007 counties are home to clean energy jobs.  Third, prioritizing clean energy gives America a chance to be a global leaders in advanced energy technologies. Getting ahead of the innovation curve means the country could be exporting technologies as other nations race to meet climate goals. Which I find a lot more exciting than trying to prop up dinosaur industries.  My two cents: if you are worried about the economy, supporting candidates that understand the jobs potential in the clean energy sector is a smart move.  Clean energy policy is climate policy  Scientists agree that the next decade will be critical to addressing climate change and avoiding the worst of its economic impacts and human toll.  So it makes sense that voters are beginning to see climate as a voting issue. A recent poll from Pew Research shows that 68 percent of likely voters rank climate as “very” or “somewhat” important, up from 44 percent in 2009. Luckily, the same policies that will create clean energy jobs will curb energy-related emissions. While energy is not the only source of climate-changing emissions, it is a sector that has carbon-free solutions today, meaning it must rapidly decarbonize to give us a chance at a safe climate future.  We’re already seeing the economic impacts of extreme weather across the country and world. Politicians that work to curb the worst impacts of climate change are working to curb the human and economic tolls.  Clean energy policy is social justice policy Like so many other issues, those most affected by pollution from dirty energy are low-income communities and communities of color.  If you’re Black in America, you have higher rates of lung cancer and asthma, and are more likely to have (and die from) heart disease, all linked to living with dirty air. Nearly one in two Latinx people in the U.S. live in counties where the air doesn’t meet EPA smog standards. People of color are more likely to live near highways, airports, power plants and refineries.  That all takes a toll on health, economic potential and quality of life. Supporting a just energy transition is synonymous with supporting marginalized communities to become more resilient, prosperous and healthy.  Clean energy technologies — the same that uplift the economy and address climate change — can help all communities thrive. Politicians who understand that are taking the realities of environmental racism seriously.  Vote Clean energy is a rare issue that is win-win-win: it uplifts the economy, creates jobs and helps curb climate change. The only downside is incumbent energy powers need to get out of the way.  Of course, the sector isn’t perfect. Clean energy advocates are working hard to not replicate the same inequities or unintended consequences as the old, dirty energy sources. But I, for one, am ready for political debates about how to best create energy systems for the future, rather than debate if we should stay in the past.  And, no matter what your political ideology is, if you’re a U.S. reader, vote in whatever way you can. It’s what being American is all about.  This essay first appeared in GreenBiz’s newsletter Energy Weekly, running Thursdays. Subscribe here . Topics Energy & Climate Policy & Politics Social Justice Clean Energy Featured Column Power Points Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off

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A vote for clean energy

Luxury in the new normal: Leadership and innovation in 2020 and beyond

October 16, 2020 by  
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Luxury in the new normal: Leadership and innovation in 2020 and beyond Elisa Niemtzow Fri, 10/16/2020 – 01:00 Business as usual for the luxury industry is over. 2020 brings with it the end of a positive growth cycle, as analysts expect global luxury sales to contract 25-45 percent in 2020 , with a recovery that could take up to three years. And yet, the coronavirus pandemic, for all the havoc it has wrought on the industry, has pushed the sustainable business agenda even further, forcing business leaders to reevaluate their role in society and better articulate their value, not just in terms of money, but also in terms of corporate purpose and the way they contribute to the world.   Recent months have revealed several fragilities and also several strengths as the luxury industry navigates its future. Companies demonstrated the depth of their commitment and a certain financial resilience by shifting production lines to manufacture hand sanitizer and masks or forgoing government aid to demonstrate social solidarity. Brands have reimagined design and distribution of products in a context of lower sales volumes and digital acceleration. The crisis also has multiplied the insecurity of some workers and left some precious material supply chains, such as cashmere and exotic skins, even more vulnerable.   As luxury fashion brands adapt and survive in the “new normal,” they can drive a renewed vision of the luxury business that demonstrates how to decouple volume growth from value growth. They can seize opportunities to strengthen resilience and further set the example when it comes to long-term value creation, business transformation and progressive leadership. To drive innovation and demonstrate leadership in the years ahead, luxury leaders should consider these three opportunities: 1. Deepen luxury’s value proposition Luxury brands can deepen their value proposition by further embedding efficiency, sustainability and inclusion into business models and practices, building on the new approaches that the pandemic accelerated. Designers are streamlining collections, focusing on evergreen best sellers and incorporating upcycling, regenerative materials and use of dead stock (French) in collections. Meanwhile, digitization is accelerating efficiency and agility. Design teams are working together online and using virtual sampling. Showrooms and fashion weeks have gone digital. And brands are hurrying to transfer business to online outlets. Supply chain experts argue companies can make less product and increase margins as they reduce waste (via better inventory management), better connect supply and demand (via strengthened omni-channel programs) and optimize understanding of client needs and trends (via enhanced client data). For an industry on the receiving end of considerable finger-pointing for its destruction of unsold merchandise, the win-win of increased embedded efficiency and sustainability is substantial — less environmental impact, more financial resilience and, potentially, redistribution of investment across the supply chain to benefit primary raw material producers and workers upstream. For an industry on the receiving end of considerable finger-pointing for its destruction of unsold merchandise, the win-win of increased embedded efficiency and sustainability is substantial. Optimized distribution of value creation is important in a context where the pandemic has rendered raw material and manufacturing workers more vulnerable. For example, the Sustainable Fibre Alliance raised the alarm of COVID-19’s considerable consequences for the economic security and well-being of cashmere goat herding families. In the case of exotic leather, a controversial material prior to the pandemic according to animal rights activists, conservationists recently have raised their voice about the necessity of protecting the benefits to species, people and ecosystems generated by this trade. At the moment, luxury brands are still struggling to develop the business cases and financially support all of these actors. One promising mechanism to explore is a “reverse-sourcing” approach whereby value chain actors for a specific raw material pilot interventions to drive positive change and then connect the dots to create a traceable, sustainable supply chain. In one example, this approach allowed vulnerable suppliers who committed to improved environmental and social practices to broker a long-term contract with a global beauty company at a premium — enabling investment in long-term sustainability while the beauty brand achieved the security of a traceable, sustainable supply chain. Additionally, luxury brands can leverage sustainable finance mechanisms and growing investor interest in ESG to partner on long-term value creation. Following on the heels of Prada, Burberry, Moncler and other players outside the sector, Chanel made its first public offering on the Luxembourg Stock Exchange in September. Its sustainability bond will support business transformation including raw material extraction, regenerative agriculture and innovation across its supply chain. This announcement is notable as it signals the emergence of a deeper value proposition and the importance of communicating this value to key stakeholders. 2. Build on luxury’s predisposition for circular and regenerative practices Over the last several years, the industry has adopted several circular economy initiatives, such as the CEDRE recycling platform  (French) initiated by LVMH, support for innovation via Fashion for Good and training designers on circular economy principles. Yet huge barriers still exist to scaling an efficient luxury fashion circular ecosystem — whether it’s closing the loop on certain product categories such as luxury leisurewear and sneakers, which have shorter lives than typical luxury items; acquiring sustainable, regenerative materials in sufficient quality and quantity (such as leather); or fully embracing the idea of producing fewer new items, including encouraging the multiple lives of products and brand-controlled secondhand markets (as Gucci has just done with The RealReal). Further, as luxury companies make their way in the “new normal,” there is a strong rationale to focus on the third leg in the circular economy stool: regenerating the natural and agricultural systems they rely on for their high-quality natural materials . With 60 percent of species and ecosystem functionality lost, the clock continues to tick. In 2021, the Convention on Biological Diversity will launch a new 10-year strategic plan with the Business for Nature coalition driving business support for policy changes and new targets. Additionally, late last month, an informal working group, Task Force on Nature-related Disclosure, was launched. The work will take several months but signals an expectation of increasing accountability for companies and investors related to their impacts on nature. Luxury brands are well-poised to demonstrate leadership on this and other aspects of the circular economy. Luxury brands also can explore two newer areas: first, assessing their performance against a comprehensive set of circularity indicators to focus on circular economy practices across entire operations and increase robustness of efforts. Second, brands can explore how to take a people-centered approach to circular fashion systems which ensure that as new infrastructure and business models are created, they are inclusive and fair for people from the outset. 3. Demonstrate socially progressive leadership As described above, in the urgency of initial responses to the coronavirus, luxury companies relied on their financial resources and business infrastructure to contribute to their workforce and local communities. Against the profound upheaval transforming our world, luxury leaders have significant opportunity to continue using this power to drive positive change. Doing so will help to preserve the social acceptance of luxury and create the stable operating environment needed by all businesses. Earlier this year, BSR published a report discussing five principles for business action to contribute towards creating a 21st century social contract that supports economic prosperity and social mobility. While the luxury industry can contribute to all principles, it is well-placed to focus on contributions to developing stakeholder capitalism, an approach to business strategy focused on long-term value creation and based on a multi-stakeholder model. Specific actions luxury companies can take include: ensure that corporate governance structures, including board and executive leadership, are inclusive and consider the interests and perspectives of all; pay their fair share of taxes; and align policy advocacy, participation in industry associations and monetary contributions with environmental and social objectives. What’s next Given luxury’s outsize influence on society, luxury brands and their leaders have significant opportunity to build on their efforts and demonstrate the behaviors we need to drive resilient and thriving societies. When will we see every luxury CEO’s bonus dependent on achieving Scope 3 climate targets, paying a living wage in supply chains and achieving zero product destruction? Thriving in the “new normal” will take nothing less than bold leadership such as this. Pull Quote For an industry on the receiving end of considerable finger-pointing for its destruction of unsold merchandise, the win-win of increased embedded efficiency and sustainability is substantial. Topics Circular Economy Fashion Collective Insight BSR Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off LVMH’s partnership with CEDRE centers on finding second-life uses for its products.

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Luxury in the new normal: Leadership and innovation in 2020 and beyond

International Day of Clean Air for Blue Skies

September 7, 2020 by  
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The biggest problem with fossil fuels is their contribution to … The post International Day of Clean Air for Blue Skies appeared first on Earth 911.

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GreenBiz analysts take stock of the clean economy

March 30, 2020 by  
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How, and how much, is the coronavirus pandemic impacting the clean economy? Our analysts share what they’re seeing.

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Asia’s central banks must rise to the challenge of climate change

March 30, 2020 by  
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Most central banks in Asia already believe they should help to promote green bonds and other low-carbon initiatives.

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Do Electric Vehicles Require Less Maintenance?

February 11, 2020 by  
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Some drivers are joining the clean energy movement and purchasing … The post Do Electric Vehicles Require Less Maintenance? appeared first on Earth911.com.

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