Making Fast-Fashion Sustainable & the Pope’s support of Impact Investing
SEA’s weekly round-up of good news in our community, our industry and our world.
Here are this week’s five empowering stories, sure to uplift your spirits. The latest in positive news, from social entrepreneurs to environmental achievements and everything in between. We all need a little positivity, thank you for joining us to celebrate what’s good!
1. Women Started Over 1,800 Businesses Every Day Last Year
Over the past year, women started an average of 1,821 new businesses every day in the US, according to the 2018 State of Women-Owned Businesses Report, commissioned by American Express. Women-owned businesses now employ more than 9 million people and rake in $1.8 trillion in annual revenue.
“This new data demonstrates not only the remarkable impact women entrepreneurs have on our economy when it comes to creating jobs and generating revenue but also the growing role of women-owned businesses in our communities,” Julie Tomich, SVP of American Express Global Commercial Services, said in a statement. In addition, women of color are America’s fastest-growing entrepreneurial population. Though there is still more work needed for equality, founder diversity is expanding every day.
2. 5 New Solutions For The Fashion Industry’s Sustainability Problem
The Global Change Award is a €1 million competition seeking new ideas to help the fashion industry become more sustainable. The competition is seeking innovative solutions to make clothing fully recyclable. Fast fashion has rapidly changed consumers philosophy of clothing, creating a waste endemic in the apparel industry. In order to meet consumers demands while being environmentally conscious, the H&M Conscious Foundation has sponsored this event to find answers. They are currently allowing the public to pick between the five finalists. Ideas range from polyester- eating microbes to recycling food waste into yarn. These revolutionary solutions could inspire other major fashion companies to follow H&M lead.
3. Transformative Volunteering Is Good Citizenship
Research is showing that volunteering has a positive impact on job performance. In Deloitte’s global 2018 Millennial Survey, 39 percent of respondents said employers should be trying to improve society, though only 25 percent of respondents said those ambitions actually reflect what’s happening at their companies. The survey also revealed that organizations and senior leaders who are most aligned with millennials in terms of purpose are likely to draw and retain the best talent. Volunteering is about applying skills, experience, and interest for social good. By applying volunteerism with work, we can improve our company culture as well as our community.
4. Pope leads Catholics to Impact Investing
Charismatic Argentine Pope Francis, who has championed the poor since he took the helm of the 1.3 billion-strong church in 2013, is a key driver of the new impact investing trend. The pope’s support of impact investing has led to the start of the Vatican’s Annual Conference on Impact Investing. As the leader of the Catholic church, many are following his lead. “There’s definitely an increased level of interest of Catholic-based organizations … in impact investing,” said the head of the Swiss foundation. A growing number of Catholics are starting to put their philanthropic billions into profitable investments, experts say this is the step in the right direction to ending poverty.
5. Germany launches world’s first hydrogen-powered train
The world’s first hydrogen train is entering commercial service in Germany. Although hydrogen trains are more costly, these trains have a similar range to diesel trains but at a fraction of the emissions. Not to mention they’re much quieter than diesel trains. With Germany introducing hydrogen trains to its railways, it will be curious to see how quickly other countries follow suit.
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