Fashion brand Salvatore Ferragamo launched an upcycled collection, with 2022 auspicious tiger print!

Did upcycled or recycled fashion always sounds cheap and old?

No its not neccessarily have to be like that way!

And we are glad that, the fashion industry is taking the lead in embracing circular economy, and launching upcycled collection.

Here it is from Salvatore Ferragamo!

Salvatore Ferragamo launches 300-piece upcycled collection Icon-Up

Italian luxury house Salvatore Ferragamo has continued their pledge towards sustainability by releasing a limited edition capsule called Icon-Up of upcycled shoes and belts.

This upcycled collection is launched on Farfetch.com.The 3oo piece collection is created in Italy using entirely upcycled materials from Ferragamo’s archives and inventory, resulting in a unique capsule where each style is one-of-a-kind.

The house 2 iconic shoe styles, such as the Varina and Vara shoes utilise existing materials and products from their inventory that might’ve otherwise gone used. When it came to selecting the prints for the shoes and belts, the inspiration traces back to the exhibit at the Salvatore Ferragamo Museum in Florence, Italy.

AND tiger? Tigers have always been an important part of Ferragamo’s world, and with the Year of the Tiger, 2022, quickly approaching, perhaps it’s the time to get some festive gear.

Salvatore Ferragamo
Aside from it’s aesthetic importance, each tiger print is digitally printed with silk onto the shoe’s upper, a method that limits waste.

How Salvatore Ferragamo upcycle the collection?

  1. All the shoes utilized in the collection were pulled from the brand’s inventory, along with the silk fabric used for the bows that grace the shoes and belts. As many of the accessories from the inventory had to be deconstructed, repurposed, and then reconstructed again to create the beloved Vara and Varina silhouettes, thus its a tedious work and requires intensive craftmanship.
  2. Another highlight of this collection is the silk bows, which are included on both the shoes and belts. These bows were created from repurposed silk that was recovered from foulards, ties, pochettes, and stoles from the Ferragamo archive. To turn these accessories into bows, and give them a second life, each silken piece had to be deconstructed by artisans and reworked into the elegant yet undone bow shapes we see in the capsule.
  3. Each style from the Icon-Up capsule collection comes packaged in a reusable drawstring bag created from upcycled fabrics, and a box made from recycled materials.

Read more: Non-leather Chanel bags

Ethical consumerism, does it work for business?

girl in forest

Ethical consumerism

Accoridng to IGD, Ethical Consumerism can be defined as the practice of purchasing products and services produced in a way that minimises social and/or environmental damage, while avoiding products and services deemed to have a negative impact on society or the environment.

From the point of view of ethical consumerism, by choosing certain products over others, or even whether to purchase at all, consumers can choose or reject particular environmental and labour practices and make other value claims based on the ethical values they hold.

Black Payment Terminal

Examples of Ethical consumerism:

According to Britannica, some of the successful campaigns by ethical consumer movements have popularized dolphin-free tuna, foods that are free of genetically modified organisms (GMOs), sweatshop-free clothing, fair-trade coffee, cosmetic products free from animal testing, and conflict-free diamonds.

Why Ethical Consumerism?

In general, as mentioned by WebMD people tend to embrace being more ethical consumers focus on a few main categories of issues, including:

  • Human rights: child labor, fair trade, livable wages, and workers’ rights, health, and safety
  • The environment: climate change, recycling, renewable energy, sustainable farming, ocean conservation
  • Animal protection: humane treatment, factory farming, habitat preservation, animal alternatives, and vegan friendliness
  • Community involvement: family farms, local businesses, sustainable growth, campaign contributions, political corruption
  • Social justice: harassment and discrimination (based on race, gender, age, sexuality, ability, religion, ethnicity), unethical business practices, illegal activities, executive pay

Its found by Lightspeed that the majority of consumers are willing to put their money where their mouth is and combat pressing environmental issues through what they choose to purchase. Therefore, there are the growing economic opportunity of commodity activism (when companies align themselves with a stance on a political or social issue as a means of winning consumers who share that point of view) which present as an opportunity for businesses!

Look up for the trend in Ethical Consumerism:

Ethical trends in business are gaining momentum. Here are four ethical trends which you may expect to find in businesess:

  • Alternatives to single-use plastics
  • Ethical veganism
  • Eco-friendly supply chain practices
  • Sustainable order fulfilment

But, some businesses might see that as a “threat” or a loss of income when people are more conscious of their purchasing habits or practise “ethical consumerism. So, does ethcial consumerism works for businesses?

We think that it is still plenty of business opportunities around with the raising awareness of civic society on ethical consumerism.

Imagine if your competitors have are all pessimism about ethical consumerism, but you know better. You know consumers have ethical conscoiusness, and you know you can help them to embrace this lifestyle. You realize that past market share doesn’t have to mean consumers aren’t looking forwward for the chance to do good while they spend money. By remaining optimistic about ethical consumerism as a business, you have both made a difference in a larger sense, and you have found a competitive spot where you can grow profits and your brand.

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Companies with good ESG practices more resilient during Covid-19 pandemic

checking stock market in phone

According to The Edge,  companies with good environmental, social and corporate governance (ESG) practices have been more resilient since the start of the Covid-19 pandemic. This is because investors’ growing concerns over damage to the environment have led them to put more value on the effective management of ESG risks.

Bursa Malaysia Bhd chief executive officer (CEO) Datuk Muhamad Umar Swift said while sustainable finance is still emerging in ASEAN capital markets, governments and regulators are making some meaningful efforts to promote and support the endeavor.

“The Covid-19 pandemic is widely seen to have given sustainability further impetus. Millennials and Gen Z are showing greater concern with respect to sustainability and changing expectations of businesses’ role in improving society and protecting the environment,” he said in his opening speech at the ASEAN: Beyond the Pandemic Crisis virtual conference.

Malaysia’s green roadmap

“Preliminary work has also commenced for an ASEAN taxonomy of sustainable finance. In Malaysia, we have seen the development of climate change and principles-based taxonomy by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia’s (SC) SRI (Sustainable and Responsible Investment) road map for the Malaysian capital market.

“For Bursa, sustainability has always been a significant growth driver, with our approach having considerable influence on the ecosystem — for our public listed companies, investors and capital market intermediaries,” he said.

With several recent listings of companies involved in the renewable energy space, Bursa sees a potential growth area, given increasing priority by consumers and investors on the sustainability front, Umar said.

“These are some of the important steps that will help drive sustainability across the region. We are confident that the integration of sustainability best practices will see a successful transition to a genuinely sustainable economy for the ASEAN region,” he said.

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The 5 key drivers to the growth of ESG

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First of all, ESG is the acronym for Environmental, Social, and (Corporate) Governance.

The ‘Rethinking ESG in a post COVID-19 world’ publication has identifies the 5 keys for sustainability and how businesses can get ready to meet the sustainability challenges ahead.

The 5 key drivers to the growth of ESG:

  1. Investor expectations – Environmental and social factors are having a greater influence over a company’s future performance and valuation. Returns on socially responsible investment indices are outperforming their conventional index counterparts.
  2. Sustainability reporting – Global investors are now calling for mandatory inclusion of climate risk disclosures in financial accounts for use by companies, banks, and investors in providing information to stakeholders. Bank Negara Malaysia (BNM) and Securities Commission Malaysia are also pushing for the adoption of reporting standards as recommended by the Task Force on Climate-related Financial Disclosures (TCFD) among local financial institutions.
  3. Regulations – There has been an increasing need to address scrutiny and adverse public reaction over environmental and social concerns in several sectors, especially when they are subject to more stringent foreign regulations.
  4. Fiscal policies – Incentives to promote responsible business conducts to be sustainable. The Budget 2021 introduced Malaysia’s first sustainable bond, as well as the extension of the successful Green Technology Financing Scheme (GTFS) to encourage the private sector to participate in green technology.
  5. Customer behaviour – PwC’s Global Consumer Insights Survey 2020 research revealed a clear embrace of sustainability and a sense of civic duty. 52% of our respondents in Southeast Asia say they expect businesses to be accountable for their environmental impact. 52% of them also say they would avoid the use of plastic whenever possible.

ESGSource: CFA Institute

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The COVID-19 lesson: Wise up for corporate sustainability in Malaysia

chart showing growth

The prolonged COVID-19 pandemic in Malaysia with the continuous lockdown measure implementation has caused liquidity issues to the businesses in Malaysia. The MCO, EMCO, CMCO, FMCO… if you are familiar.

Of course, there are some sectors that are flourish during this pandemic such as medical equipment, hand gloves to name a few.

In fact, this pandemic is a wake-up call for corporate sustainability in Malaysia.

Before its too late!

The COVID-19 pandemic highlighted the impact of our businesses and lifestyles have on the environment and biodiversity. Besides systemic inequalities, such as access to healthcare and green spaces, internet connectivity, work and education opportunities. These issues will have significant implications on the sustainability of resources in our communities and wider society.

According to PwC Malaysia,  this is an opportunity for corporates to build trust with their stakeholders, by showing their commitment to addressing ESG issues before it’s too late. ESG is the acronym for Environmental, Social, and (Corporate) Governance

A combined effort from businesses, the government, and the public is needed to drive improvements in environmental and social practices.

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The pre-loved (2nd hand) fashion market, will you take it?

jeans stacked up

The truth is, “fast fashion” is a deeply unsustainable model.

The emphasis of recycling rather than tackling the root cause of why people continue to buy and dispose of larger and larger quantities of lighter, thinner and less well-made clothing, consumers are reassured that they can continue shopping as normal.

The rising of pre-loved market

There is an evident case for the development of new business models in fashion industry — preloved or second hand/ resale market, and much is already happening in the area. Looking for sustainable lifetysle in Malaysia? Click here to know more!

However, of course some people do not like concept of using clothing which someone else has used.

Therefore, there might be a need for rendering the previous user invisible by presenting shops and
clothes clean and “fresh”, removing
the notion of “second hand”.

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Are we there yet for circular economy?

euro coins

What is a circular economy?

A circular economy is an economic system of closed loops in which raw materials, components and products lose their value as little as possible, renewable energy sources are used and systems thinking is at the core.

Looking beyond the current take-make-waste extractive industrial model or linear economy, a circular economy aims to redefine growth, and focus on positive society-wide benefits. Circular economy entails gradually decoupling economic activity from the consumption of finite resources, and designing waste out of the system. The circular model builds economic, natural, and social capital.

In general, circular economy is based on 3 principles:

  • Design out waste and pollution
  • Keep products and materials in use
  • Regenerate natural systems

The linear economy has to change!

In a circular economy, economic activity builds and rebuilds the entire system and process. Circular economy recognize the importance of the economy needing to work effectively at all scales.

As opposed to the popular views, transition to circular economy does not aimed at reducing the negative impacts of the linear economy. Rather, circular economy represent a systemic shift.

How circular economy can save the world?

According to National Geographic, in the same half century, environmentalists have been warning of limits to growth.

However, the new “circular economy” movement is different. It’s a collection of strategies—some old, such as reducing, reusing, and recycling, and some new, such as renting rather than owning things—that together are meant to reshape the global economy to eliminate waste. The circular economy doesn’t aim to end growth; it aims to bend how we do things back into harmony with nature, so that growth can continue.

 

Apple stopped giving chargers with iPhones – is that really for environment sustainability?

iphone and imac

In 2020, Apple announced that they will no longer be giving out charging adapters along with iPhones upon purchase. This decision had caused a massive outcry among buyers.

Let’s face it, iPhones are expensive and the least Apple could do is to provide a charging adapter along with the smartphone.

Here is what’s the response from this tech giant:

Apple response by stating that this move was for the benefit of the environment.

In the Apple 2021 Environmental Progress Report, it was stated:

In 2020, iPhone 12 and Apple Watch Series 6 devices
shipped without power adapters in the box. The change allowed
for smaller, lighter packaging. It also allowed us to fit up to
70 percent more products on a shipping pallet—which, in turn,
helps reduce emissions associated with shipping. This change
also eliminated the need for significant quantities of plastic
and zinc since power adapters comprise our largest usage
of these materials.

🤗Looking to recycle your Apple product? Click here to find out more.

However, there are some arguments on this.

´The charger is essential for the use of the mobile device´

According to Entrepreneur.com, The Procon-SP Foundation says that the charger is essential to be able to use the phone, they also mention that Apple has not shown that old chargers meet the same charging experience as a new one would offer. Nor has it been proven that the use of third-party chargers is not used as a way to evade the warranty by the company.

In addition, due to being a significant and important change in the way said product is marketed, since this device is usually sold with the charger, this modification should have been reported – which never happened – mentioned in its analysis by Procon-SP.

The Question remains, is this really for environmental sustainability?

What are your thoughts on this Apple’s move towards environmental sustainability?

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Reformist vs Transformational approach: Sustainable world

flower and sky

What is the difference between Reformist vs Transformational approach?

Let’s see the comparison between reformist and transformational approach to sustainable world as below:

Reformism

Reformism, is assessed in terms of:

(a) PAT

How to assess PAT?

Ecological Footprint Analysis (Footprint Analysis) in conjunction with PAT identity (PAT representing humanity’s ecological impact (I) as a function of population (P), consumption/production per capita (A), and technologies used in the consumption/production process (T)), and

(b) Sustainable development

Next, some of the key strategies advocated by business by which this sector proposes it can make a contribution to a sustainable world, namely maximisation of renewable natural resource productivity, efficiency of resource use in production, and the uptake of more environmentally friendly production and consumption practices.

Thus, Reformist goal of continued human development or, more commonly, sustainable development (The dominant socio-economic system is that of an economic growth model encompassing free trade, globalisation, a key role for multi-national corporations.

Also, Reformism focus on technological advance, and human wellbeing progressed through increased personal income and consumption.

Transformational

On the other hand, the Transformational approach sees the current dominant socio-economic system as a root cause of current unsustainable behaviours and, to progress a sustainable world, transformational change is needed.

Key features of this approach include:

(a) human wellbeing as best progressed through consumptive sufficiency and a focus on wellbeing through life experiences,

(b) continued consumptive growth as unsustainable and a primary cause of both ecological problems and poverty,

(c) poverty as best resolved through resource reallocation not more global-level resource-throughput growth, with a key role for the rich, to stop the exploitation of resources from the politically and economically weak, and

(d) constraints placed on use of the Earth’s natural resources such that it remains within ecosystem limits.

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How can business response to COVID-19?

holding card with COVID-19

“This is not just a public health crisis; it is a crisis that will touch every sector. So, every sector and every individual must be involved in the fights,” quoted by Dr. Tedros Adhanom Ghebreyesus, Director-General of World Health Organization (WHO).

The coronavirus diseases (COVID-19) pandemic posed a massive global health disaster, economic and social crisis. What are the impacts of COVID-19?

During a critical period like the COVID-19 pandemic disaster filled with fear and uncertainty, the people worldwide are strongly committed to working together and supporting each other in every way possible, including business communities.

Businesses can engage in CSR programs

Business should endure various initiatives to help their employees, customers, and communities during this crisis period through the
various CSR programs as they did before.

CSR is treated as an excellent tool for accomplishing sustainable development by offering a win-win strategy. CSR also permits companies to enhance their financial performance and, at the same time, deliver abundant social benefits that can fuel the people to survive during the COVID-19 pandemic period and overcome the crises.

These CSR actions confirmed that the business and society are intertwined (McLennan & Banks, 2019), as well as it is the best neighbor of the community and vice versa.

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