FuturePlus revealed as part of Travalyst's sustainability certifications for accommodations

We are excited to announce that FuturePlus has been independently reviewed and selected as one of the first sustainability certification compliant with the Travalyst criteria.

Founded in 2019 by Prince Harry, The Duke of Sussex, Travalyst is a not-for-profit coalition of some of the biggest brands in travel and technology including Booking.com, Expedia Group, Google, Skyscanner, Travelport and Trip.com Group.

The coalition works to bring sustainability information to the forefront to help people make more informed travel choices.

We are delighted that the FuturePlus platform has been included in Travalyst’s list of compliant sustainability certifications for accommodation providers.

Travalyst’s initiative aims to support certifications through an evolving legislative landscape whilst providing consistency across travel booking sites.

“This is the first milestone in a long-term commitment to enhancing the integrity of sustainability information for consumers and the industry at large, and we will continue to work with stakeholders to closely monitor the fast-evolving legislative landscape, and adapt our approach to certifications accordingly.” - Sally Davey, CEO, Travalyst

1 in 5 companies face significant business impacts from supply chain water risks

The 2023 CDP Global Water Report has revealed that 1 in 5 companies face significant water-related risks within their supply chains, threatening billions in assets.

Among the 3,163 companies that participated in the disclosure, those engaging their suppliers were found to be seven times more likely to identify and effectively manage these water risks.

Recognising the urgency of water stewardship, brands like Coca-Cola, L’Oréal, and Kao Corporation are incentivising sustainable practices by linking executive remuneration to water performance targets.

This approach aligns financial rewards with responsible water management, driving meaningful actions across supply chains to mitigate risks and promote sustainability.
“We must come together to reverse course, restoring, protecting, and sustaining the global hydrological cycle.” - Henk Ovink, Executive Director of the Global Commission on the Economics of Water.

Ikea trials second-hand marketplace

Ikea is trialling a new initiative that aligns with its sustainability goals, an online second-hand marketplace called Ikea Preowned.

This platform allows customers to buy and sell pre-owned Ikea furniture directly, bypassing traditional third-party platforms like eBay or Gumtree. Currently being tested in Madrid and Oslo, Ikea plans to roll out this marketplace globally by December, demonstrating its commitment to sustainability and circular economy practices.

The growing market for second-hand furniture, clothing, and equipment reflects a broader consumer shift towards sustainable living. Ikea’s venture into the resale market is a strategic move to reduce waste and extend the life cycle of its products, ensuring that fewer items end up in landfills. By facilitating the resale of its own goods, Ikea not only reinforces its environmental ethos but also taps into a profitable segment of the market.

The introduction of Ikea Preowned aims to encourage customers to consider reuse over disposal. This move is also expected to drive more sales and customer loyalty, as buyers seeking affordable, high-quality furniture turn to Ikea’s marketplace rather than external sites.

With over 10,000 results shown when searching for the retailer on GumTree in the UK, the potential for success is clear. Ikea’s second-hand marketplace not only supports sustainable business practices but also strengthens its position in the resale market.

Venture Capital vs. Venture Building: Key Differences

We feature in Vala Capital’s latest blog which breaks down the key differences between VentureBuilding and VentureCapital, and how the two approaches can be complementary within a diversified EIS portfolio.

Read the blog here.

Tesco pilots Digital Product Passports for F&F clothing

Tesco is pioneering sustainable practices in the fashion industry with a new pilot project introducing Digital Product Passports (DPPs) to its F&F clothing range.

In collaboration with technology provider Fabacus, Tesco is trialling this innovative approach ahead of upcoming EU sustainability regulations, marking a significant move towards promoting circularity and transparency in fashion.

Digital Product Passports are digital records that provide detailed information about a product’s origin, materials, manufacturing process, and sustainability credentials.

As part of the Ecodesign for Sustainable Products Regulation (ESPR), which came into effect on July 18, 2024, DPPs aim to enhance the sustainability and circularity of products within the European Union market.

By 2030, the regulation is expected to mandate DPPs for nearly all categories of physical goods sold in the Eurozone, including apparel.

“We’re pleased to be leading the way with this pilot, collaborating with Fabacus on our F&F clothing range.” - Joe Little, Tesco's Head of Technical.

Currently, DPPs are being introduced sector by sector, starting with batteries.

However, Tesco’s pilot, along with projects already launched by fashion brands like Nobody’s Child and Chinti & Parker, is expected to help the apparel industry prepare for the upcoming changes.

By adopting DPPs, these companies aim to provide consumers with transparent information that can influence more sustainable purchasing decisions.