Happy Tuesday. We’ve nearly been running for a year now and this week has got to be up there in terms of the most impactful actions taken by businesses.
In today’s edition:
💎 Pandora’s sustainable diamonds
🚖 Uber lead the electric vehicle charge
⛴ Ships and ports paving the way for Green Hydrogen
Big Business (2-minute read)
World’s biggest meat processor invests in plant protein
A report has revealed that alternative proteins could make up 22% of the protein market by 2035. JBS, the world’s largest meat processor, has acquired plant-based protein maker, Viviera, for $409million. The acquisition is aimed at strengthening JBS’s position in the alt-protein market through access to Viviera’s production facilities and intellectual property – reducing the costs linked to building these capabilities in-house. It also allows JBS to diversify its product portfolio, so it’s in a better position to deal with changing consumer demand and expected declines in the growth-rate of meat consumption.
On trend: The tie-up is the latest in a line of animal protein companies acquiring slaughter-free protein alternatives – we’ve previously spoken about Asian seafood giants, Thai Union, investing in cell-based seafood specialists BlueNalu.
Ikea giving furniture a second chance with their buy-back scheme
Ikea has launched its long-awaited furniture buy-back and re-sale scheme, in an attempt to reduce the number of products going to landfill. Customers will get vouchers (ranging from 50% to 30%) to spend in-store if items they no longer need are returned in good condition. Items will be sold in separate areas of the stores, although Ikea has announced a new partnership with Gumtree to sell second-hand products online. A win for the circular economy!
Pandora to ditch mined diamonds over sustainability concerns
The world’s largest jewellery brand, Pandora, has announced plans to stop sourcing mined diamonds and to switch entirely to lab-grown alternatives by 2025, building on previous pledges to use exclusively recycled silver and gold.
But why? The diamond supply chain is plagued with human rights issues including community displacement and forced labour. Mining is also emissions heavy – every carat mined is the equivalent of a 150 mile car journey, so moving to the lab will support Pandora’s 2025 carbon neutrality pledge.
Caution: Lab-grown diamonds aren’t without fault – their production remains energy intensive. However, labs are already 60% powered by renewables, a number set to increase with scale. We recently spoke about the first sustainable diamond certification …Pandora’s range may just get the green tick.
🤖 Future of Tech (1-minute read)
Uber getting into the Electric Vehicles game
A recent study suggests, a solo ride-hailing trip emits nearly 50% more CO2 than in a private vehicle – a result of the significant time that ride-hailing drivers spend driving without a passenger. Uber have taken up the charge (no pun intended) by producing their own fleet of electric cars. Partnering with UK electric bus pioneer, Arrival, the fleet will be developed specifically for ride-hailing drivers. Proposed features include automatic matching of passengers with cars that have sufficient battery range. This builds upon Uber’s latest feature allowing customers in London to opt for an electric
Boosting supply-chain efficiency – Hwy Haul style
The US fruit and veg market is worth over $104billion, yet the industry relies on inefficient logistical practices (phone calls and paperwork). These inefficiencies contribute to $15 billion of food wastage with produce waiting in unfavourable conditions. Startup, Hwy Haul, is modernising how produce goes from field to table through its freight brokerage app. Users login to the online platform and access efficiency-boosting tools specific to their role. The system removes the need for truckers’ daily phone calls to middlemen, with notification of pick-up and drop off arrangements done through the app. Farmers and retailers get instant quotes and shipment booking, while gaining access to load tracking and real-time monitoring as goods move across the country.
💡 Deep Dive (1-minute read)
Ports Paving the Way for the Green Hydrogen Transition
The chicken and the egg: One challenge for green hydrogen production plants is that to be commercially viable they need to produce/sell 10 tons of hydrogen per day. On the roads this demand would require several thousand hydrogen cars locally. However, without appropriate infrastructure to power their vehicles, consumers are unlikely to purchase hydrogen cars in the first place.
Ports could be the answer: A single large shipping vessel could provide the required demand for hydrogen production, so the hydrogen-powered marine industry could serve as an anchor point for establishing on-land Hydrogen. If maritime shipping were a country, it would be the sixth-largest in the world in terms of greenhouse gas emissions – so the need for hydrogen-fuelled vessels is clear.
A unique opportunity… For coastal nations, with access to renewable energy, to kickstart an entirely new economy and become green-hydrogen exporters. An African Hydrogen Partnership was launched last year to bring together organisations in the development of hydrogen markets and map an ‘atlas’ of potential green hydrogen sites.
💭 Little Bytes
Quote: “When you look at the predictions by many global organisations, if we don’t change our ways, it is frightening…Fashion plays a big role here…It’s expecting brands to be transparent, and take their responsibility seriously while they make beautiful clothes… Just not at the cost of ruining the environment.” Vogue India, editor-at-large, Bandana Tewari
Stat: There is 100 times more gold in a tonne of smartphones than a tonne of gold ore, but many phones are not properly recycled, wasting these resources. Accenture has valued this global opportunity at $4.5 trillion – World Economic Forum
Watch: Carpets made from Banana waste
🗞 In other news…
- Nestle to take on Oatly with launch of new pea milk brand
- UK retailer Co-op ditches long life plastic bags
- Blustery Bank Holiday weather sets UK wind power generation record
- Googly eyed scarecrow saving sea birds getting stuck in fishing nets
- China enacts food waste law, meaning bans for binge-eating & fines for leftovers
🎣 Gone Phishing
