In a world that is constantly expanding and evolving, sustainability in every aspect of life is the way of the future. Governments and customers alike are increasing demands for more sustainable and ethical business practices.

The supply chain industry is one of the leaders in emissions and waste energy, but these challenges have brought with them a new wave of sustainable solutions.

Today there are more options for every company to take action and effectively reduce their supply chain footprint. The innovative, growing companies below are industry experts with actionable solutions to share.

Alt Tex

What they do

Alt Tex is a new company composed of entrepreneurs and scientists that have decided to change the way the fashion industry works. They have innovated a process that uses food waste to produce high-quality, sustainable textile products. Their synthetic material can help reduce wasteful practices in the fashion industry and has the potential to evolve into other industries as well.

Why it’s valuable

The fashion industry contributes an astounding 8-10% of the world’s GHG emissions and the production of polyester (used in over 60% of the clothing textiles and consuming 70 million barrels of oil per year) is a main culprit.

Alt Tex fabric is a ground-breaking innovation that will have long-lasting implications for the fashion industry as a whole and other branches of industry that use textiles, replacing high-waste polyester with their biodegradable textiles.

Whether your company holds a spot in the supply chain that will contribute to the development of these textiles or whether you will be using them to create your own sustainable products, you will be reducing your supply chain footprint and contributing to the health of the planet.

How to implement their solution

While Alt Tex is still in the process of commercializing their product, supply chain companies can still contribute to their mission and implement some planet-saving strategies into their practices.

Whether you would like to receive their innovative textiles to create your products, or you have food waste that you’d like to direct to them instead of to the landfill, the folks at Alt Tex will be happy to hear from you.

Evoco LTD.

What they do

Evoco LTD. Is a company that is replacing traditionally-sourced carbon with sustainable and regenerative plant-based carbon. They use trees and other plant matter to create biomass for ‘green’ carbon that is then used to create various bioplastics and other biodegradable materials commonly used in athletic products and footwear.

When these products are composted, they will contribute to the growth of more trees and plant matter to create a sustainable, renewable cycle.

Why it’s valuable

Evoco’s process eliminates the need for fossil fuel carbon, and this in turn maintains the balance of carbon in the atmosphere and lessens the rate at which climate change occurs. Using sustainable foams and other materials produced by Evoco LTD. will reduce your supply chain footprint and will allow you company to contribute to sustainable carbon extraction.

How to implement their solution

Replacing standard plastic and textile use with products from Evoco is the best way to contribute to their goal of creating a sustainable cycle for carbon extraction and development into various products. All of their products have a high percentage of plant-based carbon, and transitioning to those products will help your company find its way to more sustainable practices.

Genecis

What they do

Genecis is a company focusing on the science of plastic. They divert food waste from landfills, ferment those materials with special bacteria, and use the by-products of that fermentation to create biodegradable plastic.

This plastic degrades completely in 30 days in a compost environment, and if it does happen to escape to the ocean, it will degrade in only 1 year.

Why it’s valuable

Not only does diverting food waste reduce the rate at which landfills fill, but the biodegradable plastic created from that food waste will replace standard non-degradable plastics throughout the globe, reducing pollution and contributing to beneficial compost growth.

Using Genecis plastic in your supply chain will reduce your carbon footprint and divert even more materials from landfills.

How to implement their solution

If you’d like to reduce the environmental impact of your supply chain, Genecis plastic is the way to go.

There are three main ways you can work with Genecis to implement this plastic-reducing endeavor: use Genecis plastic to replace standard plastic use in your manufacturing processes, create new products with their bacteria, or license their technology to produce your own plastic within your facility.

BrainBox AI

What they do

BrainBox AI has developed what is essentially a brain for your HVAC system. Their AI technology integrates into your HVAC system in order to learn the heating and cooling patterns and how your building responds to external temperature and weather changes. Then, it will regulate each component of your system in order to maintain set temperatures and eliminate energy waste.

Why it’s valuable

HVAC systems are one of the most wasteful systems in a building, and they also draw a lot of power: up to 50% of a building’s energy consumption goes to the HVAC system, and as much as 35% of that energy can be wasted.

Using the BrainBox AI technology can lower your carbon footprint by 40% and HVAC operation costs by 25%. Plus, you’ll end up extending the life of your HVAC system and increase the comfort of your staff. Say hello to increased productivity and goodbye to unnecessary costs.

How to Implement the Strategies

If implementing this autonomous AI solution sounds like a good deal to you (and you’re right, it is), get in touch with BrainBox AI staff to discuss installation. It can be integrated into any building size and layout, so no matter where your facility sits in the supply chain, you can start saving energy and reducing your carbon footprint.

Extract Energy

What they do

Extract Energy has designed a heat engine that converts waste heat from industrial factories and power plants into electricity. This innovative technology is easy to install, manage, and scale as your production changes. The engine can be affixed to multiple waste heat streams in order to fit into any company’s manufacturing and/or processing facility.

Why it’s valuable

The Extract Energy heat engine can dramatically reduce the amount of waste heat your facility is releasing into the atmosphere. Eliminating emissions will reduce your supply chain footprint, and converting that heat into usable electric energy can reduce operation costs and improve efficiency.

How to implement their solution

If you’re interested in helping Extract Energy perfect their system, give them a call. They’ll assess whether your site is a good candidate for pilot installation of their heat engine units. If your site meets their criteria, congratulations! You can start reducing your carbon footprint immediately. If not, you can reach out again once they are ready for full-scale implementation across the industry.

Xos

What they do

Xos is a leader in battery-operated transportation vehicles. They make fleet vehicles in all sizes (Class 5 through Class 8) that run off of battery power alone, and they also supply companies with the power solutions for those vehicles and a highly intelligent management software to coordinate and monitor their fleet.

Why it’s valuable

A massive 95% of the world’s shipping energy still comes from fossil fuels, and as a result, the transportation industry accounts for around one fifth of the world’s carbon emissions.

Incorporating fully electric vehicles into supply chain transport fleets is valuable in three ways: it lowers operating costs, reduces downtime, and eliminates carbon emissions. Implementing transportation solutions like this is one of the fastest ways we can reduce our negative impact on the planet.

How to implement their solution

Initiating the changeover from gas-powered vehicles to electric is as easy as placing a call to Xos staff. One of their account executives will discuss your fleet and infrastructure needs to come up with a feasible implementation strategy to get your fleet operating with clean, sustainable energy as quickly as possible.

Norsepower

What they do

Norsepower is a second company tackling emissions in transportation, specifically shipping by sea. The company has designed an auxiliary wind propulsion system called Rotor Sail technology that is highly automated and reliable. They believe that bringing sail energy back into ocean transportation is the way to reduce and eventually eliminate carbon emissions from this transportation sector.

Why it’s valuable

More than 3% of global carbon emissions can be attributed to shipping vessels on water. This is equivalent to what the highest-emitting countries produce. Since the shipping industry is only accelerating, taking steps to counter these carbon emissions is vital.

The Rotor Sails designed by Norsepower can reduce consumption of fuel by as much as 20%, with an average between 5 and 10%.

How to implement their solution

Whether your supply chain incorporates passenger ships, cargo ships, tanker ships, or any other kind of ocean-going vessel, Rotor Sails can be the solution for reducing carbon emissions and fuel consumption.

The post 7 emerging cleantech suppliers that can help you create a more sustainable supply chain appeared first on Trade Ready.

For years, climate scientists have been demanding that we – governments, businesses, and citizens – accelerate our timeline for going green before it’s too late. They have continued to reiterate that we must all take steps, large or small, to combat the many challenges facing our environment.

But creating real, lasting change seems to require a community response from countries all over the world. We can reverse a lot of the damage that’s been done and prevent things from reaching that irrevocable point we see looming in our future.

Canada has committed to using various solutions to fight climate change, including accelerating the phase-out of coal, curtailing deforestation, speeding up the switch to electric vehicles and encouraging investment in renewables – all with the goal of reaching net-zero greenhouse gas emissions by 2050.

Why should international businesses care about reducing their CO2 emissions?

For starters:

• There is increasing pressure to do so from stakeholders and consumers alike
• Increasing efficiencies that reduce emissions also often reduce costs
• Private and public investment for sustainable ventures is increasing
• Businesses can reduce their reliance on price-volatile fossil fuels by shifting to renewable energy

There are so many solutions out there for businesses who want to reduce their carbon footprint. Finding those solutions specific to their industry is the first step, but the real challenge is being willing to take the risk to adopt new practices and new technologies. Luckily, no business must start upon this path alone.

If we have any hope of reaching the 2050 net-zero targets set forth by the international energy agency, we must be innovative in our approach to implementing these clean, green solutions.

To find out more about the solutions and how businesses can integrate them to reduce their own greenhouse gas emissions, we talked to Tyler Hamilton and Leah Perry, CITP from MaRS Discovery District, and Evoco, a cleantech venture working hard to usher in the next generation of sustainable goods.

How MaRS DD  is promoting green solutions on a global scale

Those first few steps during a transition to greener practices can be challenging, confusing, and overwhelming. That’s why MaRS DD offers a number of accessible, practical opportunities for getting started.

“We take a very broad definition of cleantech. We work with about 240 different ventures across Canada. It could be any company that’s got water technology, advanced material technologies, circular economy solutions, technologies related to reducing the impact of transportation, the operations of the energy sector, buildings, you name it, anything that reduces environmental and climate impacts, but does so in a way that makes economic and business sense.”

“We work with those companies and provide access to mentorship and advisory support, market intelligence, connections to investors, customers, and potential partners.”

“On top of all that, we also run very specific programs. One is our Mission from Mars program that was launched in February of 2021,” explains Tyler Hamilton – Director of Ecosystem, Cleantech at MaRS Discovery District

Perhaps the most important service they provide is advisory support for startups. Navigating the process of getting to market is difficult, so assistance in getting to market quickly and effectively is essential. They also offer a Women in Cleantech Accelerator program that focuses on scaling women-led cleantech companies.

“The Women in Cleantech program, sponsored by RBC, is an accelerator for women-led businesses in Cleantech. Seven – ten companies are chosen and go through months of programming, typically a monthly workshop as well as facilitating connections to companies, government, investors, academics, and potential customers.”

“We also actually work quite closely with the Trade Commissioner Service (TCS), particularly in New York and San Francisco, to help our participants get connections to investors or corporate partners in the U.S. market,” says Leah Perry, CITP – Manager, Cleantech, Venture Services at MaRS Discovery District

Innovation hubs like MaRS DD play a crucial connector role between international investors and businesses and burgeoning clean technology companies. Together, inexperience is no longer a burden to international businesses who want to go green, or new cleantech startups who want to find national and international partners – meaningful help is accessible for all.

“Because a corporate culture is much different than a venture culture, it’s important to have an organization like MaRS in the middle, doing translation and getting them to all speak the same language. So, for any company that is interested in going down that path, I would encourage them to reach out to us,” Tyler says.

Explore how your venture can work with MaRS.

While these services are priceless (after all, we must be continually innovating), new is not our only option. By focusing on the cleantech solutions already open to us, such as electric vehicles, solar panels, and carbon-neutral shipping, businesses can make immediate changes to how they operate without the risks of new innovations.

Of course, the solutions that already exist do require innovation as well to be scaled and accessible to large and small businesses alike.

Why businesses should be inspired to actively lower CO2 emissions

Historically, international businesses have balked at drastic solutions to climate change and our environmental crisis due to concerns over cost. While understandable, as the risk can be significant when implementing any new technology on a large scale, there are many reasons to take the risk.

First, green practices are often more affordable in the long run. While there is always an upfront expense when implementing new technologies or policies in your business, the long-term result is cost savings on everything from materials to processing to transport. Plus, the price of fossil fuels is constantly in flux, and usually takes a hit when global conditions change for good or bad.

Renewable energy is consistent and more reliable for future budgeting purposes.

Another key motivator to lowering your CO2 emissions is government-mandated emissions goals. Many countries have goals in place for net-zero emissions by a 2050 or sooner, and you may face penalties, fees, and other negative consequences for not jumping on the bandwagon.

Additionally, going above and beyond the current call to reduce your business’ emissions will prevent you from being blindsided and disadvantaged by sudden policy shifts or regulation changes, or from global events that affect costs.

While these are both very good reasons to take inspiration from organizations pushing cleantech solutions, they are not as compelling as protecting your company’s bottom line.

Today’s society is becoming more socially responsible and environmentally conscious. Consumers are seeking cleaner, greener products and services everywhere they can, and businesses who meet this need are going to be able to compete long-term.

The best solutions for lowering CO2 emissions in 2022

There are countless solutions for international businesses who want to reduce their CO2 emissions and work toward a net-zero status. There are even dedicated solutions depending on industry, scale, and future goals.

For those businesses who engineer products, replacing petrochemicals and other harmful materials in your products is an excellent first step. Natural additives are available no matter what material you’re looking to replace, and they’re often more economically viable than your current solution. These include biodegradable, plant-based materials, and polymer upcycling.

How Evoco is disrupting petroleum dependent industries to close the loop in the fashion industry

Cleantech company, Evoco, is disrupting petroleum dependent industries with carbon-reducing technologies – creating innovative and sustainable material solutions for consumer goods.

They operate two different product brands that can both be applied to many industries from fashion to furniture:

FATES, a plant-based bio-foam made up with to 80% plants and reduces CO₂ emissions by up to 70%.

CleansportNXT^TM, all-natural, probiotic odour control product used in a variety of industries from athletics to home furnishings.

“The fashion industry has received a lot of attention for its unsustainable practices. The industry alone produces 8 to 10% of the world’s GHG emissions, (more than the aviation industry which contributes up to 2.5%), that equates to 4000 megatons.” Says Natalie Ashdown, COO of Evoco Ltd.

“We take carbon stored in plants, use it in our chemistry, transform it into materials, brands use our materials as a sustainable alternative, and once consumers are done with their shoes the material biodegrades back into the earth, closing the loop.”

“However, we are just getting started. We will be expanding our technology (over 15 patents) and materials in other verticals. What is innovative about our R&D is that we can manipulate our materials to any specifications, one day your office chair will be made with FATES eco-foam, the mattress you sleep on will be made with plants rather than petrochemicals. Our objective or big, hairy audacious goal (BHAG), is to replace petrochemicals and harmful materials and remove them out of our, our planet earth,” explains Evoco CFO Basima Roshan.

“A common problem with the cleantech industry is that a lot of the products that are coming onto the market are often subpar to the status quo. If consumers are going to take the industry seriously, they ultimately want to have a product that will work and perform. So we work really hard to make sure that our products are performance products as well,” says Natalie.

Today, Evoco works primarily in the fashion industry, with footwear giants like VANS, Timberlands, Keen and Kodiak. But they have their eye on expanding to more of the high-volume retailers like Nike, Adidas and fashion brands like Versace, Chanel, and in the longer-term Tesla.

“People and our planet are inextricably linked. Everyone in our company would love to make an impact and believes that we can actually make an impact. We can make a difference. So I think everyone feels the impact of that every day. Especially when we come up with new, innovative, materials – it’s so exciting for our entire company.” Says Natalie.

One of the most effective ways of reducing your carbon footprint is to invest in new technologies for generating, storing, and distributing energy. These include solar, wind, water, and geothermal energy sources. With this approach, it is equally crucial that you develop new methods of managing your energy and optimizing your consumption, such as using energy-efficient products.

For businesses connected to food production, many new solutions exist for sustainable farming and increased food production without the use of harmful pesticides, fertilizers, and other chemicals. These solutions include urban agriculture, permaculture, biodynamic farming, crop rotation and polycultures, natural animal raising, manual weed control such as AI robots, natural pest management, and more.

For the transportation of goods and people, electric vehicles are the top solution. With many countries enforcing EV goals by 2030 or 2040, the technology is being developed at incredible rates. While this area does face its challenges, such as battery life in cold climates and access to charging stations in remote areas, this is one of the most promising areas for reducing global CO2 emissions.

Since one of the largest contributors to a business’s carbon footprint is their waste, investing in innovative technologies for recycling commercial and industrial waste is a key priority regardless of industry or size. Industrial waste in particular can be quite hazardous, whether it’s food waste, liquid waste, or unused materials.

To manage this waste sustainably, we must focus on using microorganism composting, upcycling to new products, harnessing the emitted gas as an energy source, and more. Of course, the first step to waste management is to develop innovative ways of reducing business waste in general.

Offsetting your CO2 emissions is another simple method of reducing your carbon footprint. Though everyone talks about trees when they discuss CO2, and planting trees is certainly a benefit, one of the best things a business can do is focus on protecting and restoring our oceans as they are responsible for a vast majority of oxygen and CO2 recycling.

Other things you can do to lower your CO2 emissions include:

• Switching to online meetings
• Use car sharing or public transport for business trips
• Invest in hybrid or fully electric company fleets and vehicles
• Use sustainable suppliers
• Prioritize the use of recycled resources
• Purchase used instead of new whenever possible

How Businesses Can Begin to Implement Green Solutions

Before businesses can implement any of the above solutions for reducing their carbon emissions, they must first know how to start. There are several different ways to prepare your business for these changes.

Before any solutions are implemented, there are three options for gaining an understanding of the “greenness” of your business. These are the Higg index, a life cycle analysis, and communicating with employees and customers.

The Higg index is a tool for measuring the sustainability of an apparel or footwear business and product. It looks at facilities, brands, and products to determine the sustainability, emissions, and social impact of a business in this industry. This can be a helpful tool for identifying challenges, weaknesses, and areas for improvement to make the most impact right away – although it has started to face some criticism.

More broadly, a life cycle analysis can be used to evaluate the sustainability and environmental impact of a product throughout its full life cycle. This includes extraction and processing of raw materials, the manufacturing process of making the product, distribution of the product, the use of the product, and disposal of the product. This analysis provides a clear picture of how your product affects the environment and where areas of improvement exist at all stages of the life cycle.

Finally, the biggest tool you have when preparing your business for implementing any variety of cleantech solutions is to speak with your employees and customers. These two groups have the most insight and knowledge of how your product operates, its impact, and how it can be improved.

By communicating a desire for change with them, businesses access a wealth of information that will streamline the process and target key problems in the sustainability of your product.

When your business is prepared for change, the best way to begin implementing green solutions that reduce CO2 emissions is to leverage private and government funding options to lower the risk of investing in new cleantech ventures and technologies.

Sharing the risk makes the needed technologies accessible to everyone and encourages businesses to continue innovating, updating, and improving their sustainability practices.

On the consumer side, transparency in your supply chain is the best way to begin showing your customers that you heard their call for sustainability. Consumers want to know where their products come from and being transparent through your supply chain ensures that your efforts are noticed and rewarded through customer retention, word of mouth, and a green reputation.

More than 50% of businesses would do more to minimize their environmental impact if they had more knowledge about how to do so or had more help and access to resources. Companies like Evoco and MaRS DD are paving the way for big changes in how international businesses reduce their CO2 emissions effectively, responsibly, and seamlessly.

Now is the time to get started improving the sustainability of your business. With role models like these showing us how it’s done, we can all feel more confident implementing these green solutions into our day-to-day business.

The post How Cleantech Ventures are Going Global to Lower CO2 Emissions Worldwide appeared first on Trade Ready.

While it’s not always easy to start something new, there are many ways businesses of all sizes can reduce their environmental impact and reap other benefits along the way.

To help you get started, we wanted to hear from the experts what misconceptions business might face about becoming greener, how businesses can plan out new ideas, and see what options are out there for businesses to use.

This month’s #TradeElite Twitter chat provided the answers to all of these and more, so keep reading to see what the experts had to say!

Moderator:

Marissa Rosen (@MarissaR1) – Owner of Climate Social LLC in St. Louis, MO.

Panelists:

Margaret Cullen (@CullenMargaret) – Trade Commissioner at Global Affairs Canada (GAC) in Miami, FL.

Lisa Ellram (@SupplyChainLisa) – Professor of Supply Chain Management at Miami University in Oxford, OH.

Yvonne Gruenthaler (@TCS_YvonneG) – Trade Commissioner at Global Affairs Canada (GAC) in Calgary, AB.

Irina Rosca (@sustain_SCM) – owner of SustainSCM in San Diego, CA.

Lora Rigutto Vigliatore, CITP|FIBP (@CITPLora) – Marketing Manager at CircuitMeter in Ajax, ON and International Marketing Professor at Durham College.

Q1. What are some of the biggest misconceptions that need to be overcome about making businesses more sustainable or environmentally friendly?

#tradeelite A1 That little progress is being made

— Margaret Cullen (@CullenMargaret) February 15, 2018

A1. Being sustainability doesn’t have to be more costly– big misconception. You can look for ways to reduce waste that will reduce costs. Reducing waste is sustainable. The savings can be reinvesting in more sustainable materials, energy, etc– so it is a win-win. #TradeElite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

Some of the biggest misconceptions about #business #sustainability programs is that they have no immediate #RO, they are costly & hard to quantify improvements & value #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

Sustainability can be defined as #People, #Planet, #Profit – encompassing much more than just the #environmental side of things! #TradeElite https://t.co/193gctOvXF

— Marissa Rosen (@MarissaR1) February 15, 2018

A1. That you have to make HUGE changes. Little changes can have HUGE impact. Simply thinking about your process. Being open to change. #tradeelite

— audrey ross (@tresAudrey) February 15, 2018

A1: That it has to start in an unsustainable manner – the conventional way. Why not start in an environmentally friendly way to begin with? There’s a fear that the people we do business with may not buy in. #tradeelite

— Anuja Sawant Sarangdhar (@anujasaw) February 15, 2018

Q2. How can you assess your business’s current sustainability levels and environmental impact?

A2. If you are early in your journey— look for low hanging fruit and waste that you KNOW exists- start improving and you will discover more. use lean practices #TradeElite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A2. If this is a key #business initiative there are various platforms that can help with assessment of current state and planning for future state. Depending on the #INDUSTRY some assessments will vary; @BCorporation is a great resource #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

#TradeElite A2 There are many platforms available at a low cost that will help organization track their sustainability initiatives. For example, Energy Information Systems (#EIS) will keep track, in #RealTime an organizations #carbonfootprint #GHGs

— Professor Lora (@CitpLora) February 15, 2018

#TradeElite A2 use of advanced algorithms can evaluate multiple scenarios (MEICO) for example

— Margaret Cullen (@CullenMargaret) February 15, 2018

A2. #TradeElite #corporategovernance #Sustainability AS an SME where are the big energy centres in your usiness process ? or where are the process with the reatest environmental Footprint? are there solutions that can reduce mitigate these?

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

Q3. What type of planning should businesses do before implementing a new sustainability initiative?

A3. You should understand the cost and the benefit— and where possible, go for early successes to prove that you are implementing GOOD BUSINESS IDEAS! #tradeelite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A3- love this question! #business #leaders really need to understand how #sustainability fits into the long term #business #strategy. A #financial, #marketplace , #customer and #supplychain plan is needed to start, measure efforts and success along the way #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

A3 Brainstorm with all internal stakeholders. Get buy in first then plan. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

A3. Start where you can! The biggest climate change adaptation challenge is that we are not making the necessary changes fast enough. Small choices have a way of adding up to big impacts. #TradeElite

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

Q4. What do you think are some practical steps small businesses can take to become more sustainable and/or environmentally friendly?

A4. some very basic things #SMBs can implement to become more sustainable involve #supplychain #collaboration, #transparency with downstream & upstream partners. Also just using better lights, offering incentives for #Carpool #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

A4. Look at your day-to-day operations– recycling, use reusable cups, turn off lights, look at your power provider and switch to renewable– change your mindset to questioning all waste. #TradeElite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A4. Finding some leaders in your industry. Talking to your local waste mgmt services. Figuring out what parts of your biz are wasteful & the easiest to change. Making it a company value / priority so your team is on board. #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

A4 Join a local organization with a focus on business sustainability. Great way to piggyback on other initiatives, educate themselves about available programs, network, and motivate internal and external stakeholders at the same time. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

#TradeElite A4
Some companies are reducing materials instead of thrucking them to landfills

— Margaret Cullen (@CullenMargaret) February 15, 2018

#TradeElite A4 And think about the life cycle or life expectancy of what you buy– buy things that last longer so you don’t need to put them in the landfill. Sorry @IKEA

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A4. A lot of companies (especially in Fashion) are looking at how they can reuse their own waste. Or focusing on a key issue – like water consumption. #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

Q5. What other options are available to larger companies to reduce their environmental impact? What are some of the best initiatives you’ve seen lately?

#TradeElite A5 #Walmart rules when it comes to using transportation efficiently. Reduce packaging- you reduce space, reduce waste, reduce landfill, reduce cost. #Amazon also big on this.

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

#TradeElite A5 #Ikea also very good here on packaging reduction and shipping space waste reduction- and make sure packaging is recyclable!

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A5. For large #organization #collaboration & #visibility are key! #Blockchain #datasharing are some of the most exciting #supplychain initiatives I am following #TradeElite @FITTNews #blockchaintechnology

— Irina Rosca (@sustain_SCM) February 15, 2018

A5 #BigDataAnalytics All sustainable initiatives need to start with measurement. You can’t manage what you don’t measure. MEASURE UNDERSTAND CONSERVE. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

#TradeElite A5
Wallmart – in 2015 Wallmart pledged to reduce global supplier sourced greenhouse gas emissions by 20 million metric tons

— Margaret Cullen (@CullenMargaret) February 15, 2018

#TradeElite A5
Apples is another example
They have stated tht they have been working for years to educate workers, improve contitions and make Apples supply chain a model for the industy

— Margaret Cullen (@CullenMargaret) February 15, 2018

A5. 100% agree on the leaders listed- @amazon has exciting #packaging collaborative programs with their suppliers like SIOC-ship in own container which helps them reduce the last mile packaging costs and eliminate #customer frustration #winwin #TradeElite @FITTNews

— Irina Rosca (@sustain_SCM) February 15, 2018

I like the #SIOC concept, but #Amazon still has huge strides to make on packaging, in my opinion. I look forward to seeing what #sustainability initiatives they roll out in the next couple years. #TradeElite #CSR https://t.co/ocy2qCoM8M

— Marissa Rosen (@MarissaR1) February 15, 2018

#TradeElite Industries are looking at sustainability. Toronto was host to a first Fashion sustainability conference last fall and now we are seeing sustainable fashion events happening all over the globe.

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A5. @DHLUS is aggressively moving to reduce carbon pollution by moving to electric bikes in some areas & electric trucks. 50% change by 2020, 100% by 2025. Coming straight from the C-suite. #tradeelite

— audrey ross (@tresAudrey) February 15, 2018

Recommend checking out @optoroinc to optimize management of returns, defects, etc. #tradeelite

— leoraudys (@LeoRaudys) February 15, 2018

a5 #tradeelite Came up also for small companies– but we see here transport is big opportunity. Even companies sharing capacity, And FLY LESS! Teleconference, work from home.

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

Blockchain would be really helpful to eliminate Original Bills of Lading, people are moving to telex, but it’s a bit pricier. However, Originals have to be shipped by courier around the world… *Shudders* #TradeElite https://t.co/Srq2Lk6qg0

— audrey ross (@tresAudrey) February 15, 2018

A5: Transport is one of the largest GHG sources. We are seeing big companies procuring electric trucks for transportation of their products. #tradeelite

— Anuja Sawant Sarangdhar (@anujasaw) February 15, 2018

Q6. What are some other business benefits to becoming more sustainable and environmentally friendly?

A6. Seems cheesy, but knowing that you are being a leader and doing the very best possible version of your product can be individually rewarding. #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

A6 Employee moral and motivation. Great recruiting tool for employers especially those looking to recruit millennials. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

Absolutely! Study: 82% of #Millennials look for opportunities to help their company become more sustainable! https://t.co/BoLUUijxBy @ELDaily @Deloitte #CSR #TradeElite https://t.co/YGVV0cnXnv

— Marissa Rosen (@MarissaR1) February 15, 2018

A6 There is also a strong #businesscase for #sustainability. As was mentioned before, reducing waste can increase your bottom line not to mention all of the added #benefits of being perceived in the market as a good corporate citizen #CSR #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

A6- just continuing to have a license to operate should be important enough. As #business puts more pressure on the #environment and #local #communities there is only so much any #system can #sustain without being replenished. #CustomerLoyalty is also key #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

A6 #TradeElite getting the younger generations on board! genX Gen0 motivation is not just the bottom line. for instance @MycoRemedy founded her company following the realisation that she could have more impact as a #Company than as a #NFP

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A6 #tradeelite Growing evidence that more people are willing to pay more for sustainable products and companies. For example I only buy #MethodProducts cleaning because it is a #Cradle2Cradle #Bcorp and has fab, sustainable products! Loyalty!

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A6: With younger generations increasingly focused on sustainability, making environmentally friendly business decisions may help attract investors, as well. #TradeElite https://t.co/t8y2M13JKM

— M1 Finance (@M1_Finance) February 15, 2018

Q7. What are some examples of sustainability programs in practice that you’re learning from or would recommend to other business leaders?

A7 #tradeelite #Walmart sustainability starting 2005– where they announced they would be more sustainable and it would save them money in the process. Cut waste! Walmart still finding more!

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

@attabotics is introducing robotics to the logistics industry driving efficiences and improving worker safety #TradeElite

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A7 #ISO50001 is an ISO Energy Management standard that incorporates multiple sustainable initiatives under one standard. If more facilities adopted this standard, this would help governments around the globe achieve their #ClimateAction targets #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

Q8. Any other advice for those looking to implement new initiatives?

A8. #tradeelite It’s been said— Find early wins that create #costsavings, get people on board, measure and publicize results– get permission to spend some/part of the savings on the next initiative…

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

Start! the more companies begin to think about their environmental footprint, the more they will identify that can be addressed. #TradeElite

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A8 It is worth it and there are resources to help you! Don’t be conventional be forward thinking! #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

Read the rest of the chat and follow future discussions by following the #TradeElite hashtag. Stay tuned for the next #TradeElite chat in March, and if you haven’t yet, join us on Twitter at @FITTNews.

The post How international businesses can become more environmentally friendly without sacrificing profitability appeared first on Trade Ready.

What should you look out for or expect in the international business world in 2018? Let’s take a look and see what could be dominating the headlines you read over the next twelve months.

1. The CPTPP

Though President Trump withdrew the U.S. from the TPP in January, the remaining 11 countries are working to resurrect the deal as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This deal, if signed, would eliminate approximately 95% of tariffs on trade between these countries, who have a combined GDP of over $10 trillion USD.

In November, Canada surprised the other 10 countries by declining to sign the agreement, to the surprise of the negotiators and the Canadian international trade community. However, amid efforts to diversify exports beyond the American market, it seems unlikely that Canada will continue to drag its heels on an opportunity to gain preferential access to the Japanese market in particular. Expect any final issues to be resolved and the CPTPP to be signed sometime in 2018.

2. Ongoing, contentious Brexit talks

By December 2017, the UK has completed the first phase of Brexit negotiations with the EU, covering issues such as the Irish border, citizens’ rights and financial settlements. The second phase of negotiations will cover the UK’s transition period after formally leaving the EU in March 2019. Discussions over the long-term relationship between the UK and EU will be included in phase three.

This process was complicated on December 13, when several Conservative British MPs joined the opposition to vote for an amendment requiring British Parliament to debate and vote on any final deal with the EU before it can be approved.

The second phase of Brexit negotiations are planned for 2018, and are expected to present few greater challenges than the first phase. The final phase on the long-term relationship between the UK and EU, however, presents several important questions about economic integration and free trade that Britain’s politicians and citizens have not yet agreed upon.

With two sets of challenging negotiations, and the extra hurdle of parliamentary approval, the odds that talks will drag into the final three months before the UK leaves the EU on March 29, 2019 remain high.

3. Sustainable, cleantech exports

If you’re involved in the clean tech and sustainability sector, 2018 should be a strong year for you. Despite the U.S. withdrawal from the Paris Agreement, global regulations are still trending towards stricter environmental and emissions regulations, requiring businesses to invest in cleaner technology in order to meet those standards. According to EDC President and CEO Benoit Daignault, total global investment in cleantech has now exceeded $1 trillion and will reach $2.5 trillion by 2020.

Canada in particular is placing great emphasis on this industry. The Canadian government promised $1 billion towards clean tech in its 2017 budget for R&D. The Trade Commissioner Service is also hiring 15 new Trade Commissioners to focus specifically on cleantech.

4. India, Brazil, and New Zealand – the rising stars of global trade

If you’re looking for new markets over the next 12 months, Morgan Stanley recommends you take a hard look at India. They argue the country’s increased digitization, new tax laws and younger demographics present a bright future, and predict 7.5% GDP growth in 2018. Morgan Stanley also predicts that India will be the world’s fastest growing economy over the coming decade.

Brazil will also see a quick recession recovery, growing an expected by 3.1% in 2018, according to the Brazilian government.

If you’re more interested in fully developed markets, Forbes ranked New Zealand second on its 2018 Best Countries for Doing Business rankings, citing its 3.6% economic growth in 2017, among other factors. The country also ranked highly in several categories for ease of doing business, including first in IP rights, bureaucracy/red tape levels surrounding business, and Transparency International’s Corruption Perception Index.

5. Meaningful action to reduce oil dependency

As Venezuela continues to suffer through the collapse of its oil-dependent economy, and the U.S. plans to become a net exporter of oil within 10 years, several oil-dependent economies are taking steps to diversify their economies.

In Russia, Putin’s approval levels are dropping as the economy struggles through lower oil revenues. Despite making fiscal changes to reduce the national budget’s dependence on oil revenues, he may push for new measures to improve his chances in the country’s 2018 presidential elections.

Saudi Arabia has plans to sell about 5% of Saudi Aramco, the state-owned oil company, through an IPO in 2018 and expects to generate up to $100 billion for the country’s Vision 2030 program, designed to shift the Saudi economy away from oil dependency towards tech and entertainment services.

Nigeria and Angola, meanwhile, are looking to agriculture to reduce their oil dependency issues. Nigeria, dependent on oil for 70% of government revenues, has launched a new program to increase yam exports to Europe and the U.S., as the country produces 60% of the world’s yams. Angola are instead focused on a broader approach to tap into their agricultural potential, which includes producing more cereals, milk, chicken, cassava, and other products.

6. Banks taking on blockchain

It is practically impossible these days to tune into the business or financial news and not hear a story about the latest blockchain or cryptocurrency development. Blockchain technology, allowing multiple players to have access to a live, unalterable digital ledger, offers game-changing possibilities for international trade finance. In 2018 this buzzworthy fintech is moving beyond Silicon Valley start-ups, into the mainstream world of global financial institutions.

In March, 2017, we reported on how banks were working to bring the advantages of blockchain technology to their corporate clients. In May, the R3 Consortium, made up of of 70 of the world’s biggest financial institutions and created to research and develop blockchain adoption, announced it had secured its largest ever investment. Then in October 2017, seven major banks partnered with R3 and Finastra to develop a blockchain-based marketplace for syndicated loans. On December 6, Amazon joined the blockchain party, announcing a partnership with R3 to allow the Corda platform to be the first distributed ledger technology to operate on the Amazon Web Services Platform.

What will we see in 2018? Swiss global financial company UBS has led an initiative to create a “utility settlement coin” that would represent each major national currency. If this coin is launched, the Corda platform could be adapted to facilitate its use.

IBM is working on launching their own blockchain platform that would allow banks to rapidly clear global payment transactions. There are also several start-ups working on digitizing the bill of lading process.

2018 could be the year some of the blockchain-based payment initiatives move from development to adoption.

7. Adoption of futuristic supply chain technology

Machine learning, automation and robotics, self-driving vehicles, new tracking technology – all of these futuristic supply chain tools will see major developments and implementation in 2018.

The past year was a big one for self-driving vehicles, culminating with the reveal of Tesla’s new fully electric semi, gaining pre-orders from big players such as PepsiCo, UPS and Walmart. Companies invested over $1 billion into self-driving and other trucking technologies in 2017.

Speaking of investing in supply chain technology, over $4 billion was invested in AI by U.S. venture capitalists in the past year. One application that has seen immediate return for companies adopting machine learning capable AI is Multi-Echelon Inventory Optimization (MEIO), which has been shown to reduce inventories by 30% while maintaining or improving customer fill rates.

Robots will also continue to play more of a role in warehouses in 2018. While some are increasingly capable of working independently, replacing human workers on the floor, others are working alongside humans, or being controlled by humans using VR applications. There’s no doubt that the demand for the skills needed to work with robotics will continue to rise in the year ahead.

8. Planning for the possibility of a world without NAFTA

The sixth round of NAFTA talks is set to kick off in Montreal January 23. But as the negotiations near, there doesn’t seem to be a lot of positivity. The first five rounds reportedly saw very little progress, putting even more pressure on this next round.

What’s the problem? The U.S. is seemingly immovable on five issues that pose major problems for the agreement’s other two member countries, Canada and Mexico.

The five issues include:

• Removal of reciprocity in government procurement at the sub-national level
• Changes to the rules of origin in the auto sector
• Elimination of the independent dispute resolution clause
• End of Canadian supply management of the dairy, eggs and poultry industries
• Addition of a “sunset clause” on NAFTA itself

“NAFTA, by itself, will not collapse,” said Mexico’s Economy Minister ldefonso Guajardo in October, but even if Mr. Guajardo is right, it may change drastically from what we have in place today.

If this really does spell the end of NAFTA, the Canadian auto, pulp and paper, chemicals, mining, aerospace and oil and gas industries are likely to be most affected, according to BMO chief economist Douglas Porter.

Even without NAFTA, trade between the three nations is inevitable. Supply chains between Canada and Mexico criss-cross the U.S. How businesses adapt to the realities of a new – or non-existent – NAFTA, is something we’ll be watching closely in 2018.

9. Cyber threats and IP risks

As technology gets more sophisticated and ingrained in our work and personal lives, so too does the threat of cyber security breaches, which in turn compromises our intellectual property. Sixty-four percent of companies surveyed reported some experience of web-based attacks in the past year. Companies of all sizes are targeted and face the risk of cyber threats from simply being connected to the internet. And the costs are large – the average cost of a data breach in Canada is a jaw-dropping $6.03M.

So what types of threats are growing in 2018? Phishing, social engineering attacks, malicious code, botnets, denial of service attacks and ransomeware are all on the rise.

Ransomware in particular is growing in frequency, attacks rose an alarming 50% in 2016. Demonstrative of the damage a ransomeware attack can cause was the aftermath of the WannaCry attack in May 2017. Hundreds of thousands of individuals lost access to their data, compromising intellectual property, private customer information, and disrupting commercial processes.

As a business, it has never been more crucial to include cybersecurity programs directly in your strategy, and engage IT professionals to help cover all aspects of your web-based properties.

10. Demand for global trade skills higher than ever

Despite continuing turmoil and uncertainty on the global political stage, Canadian businesses still hold an optimistic outlook about their export opportunities. According to Export Development Canada’s Fall 2017 Survey, the majority of respondents believe that export sales will increase in 2018, citing new opportunities, growing demand, and expansion into new markets as stimulating factors.

As more businesses of all sizes get involved in international markets, the demand for talent skilled in global trade processes, is also growing.

“We hear from exporters all the time that knowledge is one of the most important tools for building international success,” said EDC Senior VP, Business Development Mairead Lavery.

In 2017, the FITTskills international trade training program underwent a major update, including the addition of 60% new content to reflect the changes we’ve seen in technology, ecommerce, trade agreements and more. In October, FITT also partnered with EDC to expand access to the available resources for businesses of all sizes looking to take advantage of international opportunities.

There’s no doubt that we all face an exciting year ahead, full of innovation, an ever-shifting global political environment, and risks, alongside ample new opportunities for business growth.

What trends will you be watching in 2018?

The post 10 global trade trends we’ll be watching in 2018 appeared first on Trade Ready.