Climate Scores, Perfume, Awards, Furniture & Gabon

1. Bring on climate (score) change

In what seems, at first, like rather shocking news, Deloitte has recently reported that almost half of FTSE 100 companies have restated their climate and sustainability scores this year. Around 50% of these were due to changes in data collection methodology and one third was due to errors. Generally, these related to greenhouse gas emission reporting and in large part their scope 3, or indirect emissions, such as business travel, for which the data is often approximated.

These climate and sustainability related metrics are increasingly fundamental to businesses, whether it is for clients, investors or even for sustainability-linked loans (where interest rates vary based on emissions). When you put this importance alongside the apparent unreliability of climate reporting and it might appear to be rather a sizeable issue.

And in many ways it is, but overall, we agree with Deloitte’s take that this is not only predictable, but maybe a good thing. Sustainability and climate reporting is at a stage of relative infancy, there is a high data requirement, and complex analysis can be needed to disentangle processes to understand exactly what emissions boundaries are. Thus, there needs to be some allowance for businesses to get it wrong, learn and develop processes for data collection and analysis. The fact that businesses are taking an interest, correcting inaccuracies and developing better methodologies is encouraging for the long-term accuracy of climate reporting and driving effective, data-driven business transformation.

If you need someone to talk to about starting or evolving sustainability or climate processes, drop us a line!

2. Eau de sustainable

Each year, 990 million tonnes of plants go to waste globally, the result of seasonal demand fluctuations and quality issues. In response, Unilever has teamed up with the University of Nottingham to launch a new pilot programme, aimed at repurposing plants that would otherwise not be used.

The programme uses surplus plants supplied by Bridge Farm Group, a company that provides plants to UK retailers and stores unsellable plants in greenhouses to extend their lifespan. Through an accelerated extraction process, plants are heated in a device that extracts naturally occurring essential oils from plants, such as roses and petunias, to create new fragrances. The process also uses sound waves to accelerate cell-wall break down to improve the yield.

In similar vein, Coty, in partnership with LanzaTech, has committed to incorporate carbon-captured ethanol as part of its fragrance production process, committing to a more sustainable production process.

Both programmes highlight the potential for beauty businesses to leverage innovative science and collaboration to help tackle global waste, reduce environmental impact, and shift towards a more circular economy.

3. Green Glam Guide

The perfect guide to the leading sustainable beauty, health, and wellness brands. 

Are you looking to shop for sustainable beauty products that actually work? The annual Marie Claire UK Sustainability Awards are your perfect guide to the leading sustainable beauty, health, and wellness brands.

Judged by a panel of 50 leading sustainability experts, including our own Giles Gibbons , CEO of Good Business, these awards highlight the best in sustainable and ethical practices. Reflecting on the progress since the awards began four years ago, Giles noted the outstanding advancements in creative solutions, with innovations that don’t compromise on quality.

For instance, Conserving Beauty has developed waterless technologies by working in collaboration with a Scottish manufacturer of burn dressings, and has created dissolvable, non-toxic face wipes, sheet masks, and pimple patches that are safe for waterways. Or Make Waves, which offers refillable deodorant with a supply chain entirely based in the UK, working exclusively with low impact ingredients and sustainable partners. And SURI, which has introduced an electric toothbrush with brush heads made from corn starch, bristles from castor oil, and a body crafted from aluminium.

This year’s entries also reflect broader developments in sustainability. Increased legislation is pushing brands towards greater transparency, with more businesses using third-party certifications as a framework for sustainable change and a consumer trust mark. Additionally, an increase in impact reporting and transparency around supply chains has led entries to provide more evidence of supplier scorecards and audits.

The Awards showcase the progress in making the beauty industry more sustainable and ethical, celebrating the brands that are making a positive impact. Why not browse through the winners with your morning coffee?

4. Second-hand takes first place

Did you know that 10% of the second-hand furniture market consists of Ikea products? With the growing popularity of thrifting, vintage shopping, and second-hand marketplaces, it's perhaps surprising that Ikea itself hasn't already joined the movement. But now, it has made its move.

This week, IKEA launched "Ikea Preowned," a peer-to-peer marketplace where customers can sell their used Ikea furniture directly to others. With a global roll out planned for December, sellers will simply enter their product name, receive AI-generated photos and measurements from Ikea, add a comment on the item's condition, and list it for sale. Buyers are responsible for arranging pick-up and inspecting the quality themselves. And to sweeten the deal, sellers have the option to receive cash or a 15% bonus if they choose Ikea vouchers instead. So Ikea joins Zara, Shien, H&M and Lego, throwing themselves into a booming second-hand economy.

It's easy to see why big brands are drawn to the second-hand market. ThredUp, a leading resale platform in the U.S., reports that the global second-hand clothing market has skyrocketed from $141 billion in 2021 to $230 billion this year, and it's expected to hit $350 billion by 2028. This growth rate is estimated to be three times that of new apparel. The key challenge now is to continue shifting consumer habits so they consider second-hand options before buying new to further this path of growth.

For businesses, embracing second-hand products is an exciting opportunity with the potential to demonstrate how they can evolve and thrive.

The Goods: Gabon - Earth’s Last Chance

Gabon: Earth’s Last Chance is a new environmental thriller on Sky; a documentary that delves into the story of Professor Lee White – a zoologist, climate scientist, and former Environment Minister of Gabon – as he confronts the challenges of rainforest destruction and climate change.

Professor White was at the forefront of efforts to protect Gabon, a nation that boasts the second-largest rainforest in the world, one of only eight countries that absorb more carbon than they emit and home to one of the largest populations of lowland gorillas and half of Africa’s Forest elephants.

The documentary explores the battles against corruption, crime, and the bureaucratic hurdles of climate negotiations during COP 26; underscoring the critical importance of preserving one of the world’s most vital natural habitats and shedding light on global climate injustices in a bid to operationalise the loss and damage fund.

In a smart yet complex way, the film raises awareness about both the climate crisis and conservation efforts. It looks like the perfect weekend to settle in at home for this – available on both Sky and Apple TV. Let us know what you think!