Europe leads in sustainable business growth

The pandemic has prompted a reconsideration of many aspects of life, including environmental issues. According to a survey by management consultancy company Accenture, 60 percent of consumers say that they have started making more environmentally friendly, sustainable or ethical purchases since the onset of the pandemic in 2020.

In the business world, sustainability has become a top priority, with major firms such as Unilever and Google announcing significant green pledges over the course of 2020. Venture capital firms have been pouring money into sustainable, purpose-driven start-ups, suggesting that eco-friendly products and services may well be a key area of growth in the post-pandemic world.

Europe’s Top Sustainability Pioneers

One of Europe’s top sustainability pioneers is Swedish oat milk-manufacturer Oatly, which has seen its sales soar as ethically-driven consumers seek alternatives to traditional dairy products. Founded in the 1990s, the company states its aim as: “to make it easy for people to turn what they eat and drink into moments of healthy joy, without recklessly taxing the planets’ resources in the process.”

Oatly is now said to be seeking a valuation of close to $10bn as it prepares to go public on the US stock exchange. The non-dairy milk market has been booming in recent years, and is predicted to reach revenues of over $38bn by 2024.

Another pioneer is EO Charging, a UK-based manufacturer of electric vehicle charging ports, having sold more than 30,000 charging points in over 30 countries in the five years since its launch. Working with high-profile partners such as Uber, Sainsbury’s and Ocado to facilitate a transition to EV, EO Charging was recently named among the Financial Times’ fastest growing companies in Europe.

Tackling Plastic Pollution

Plastic pollution is an area that has come into sharp focus over the course of the past 12 months, with discarded single-use masks becoming an all too common sight since the start of the pandemic. Based in Aarhus, Denmark, Cellugy is a pioneering biotech start-up that is committed to helping to bring an end to plastic pollution through the creation of alternative forms of packaging.

Its innovative product, called EcoFLEXY, is a durable material designed for use in the packaging industry. Made from recycled food waste, the product is all-natural, fully recyclable and biodegradable. In a recent seed round, the company raised €2.38m from the European Innovation Council Accelerator, which will allow it to scale-up production of its EcoFLEXY product.

RanMarine Technology, a Dutch drone technology firm, is the company behind the innovative WasteShark – a product designed to clear plastic and other waste from all manner of waterways. The device has a 10-hour ‘swimtime,’ and is able to clear 500kg of debris from the water each day – with users able to control the device remotely and monitor its progress in real time.

Plant-Based Foods

After years of unstoppable rise, 2020 was the year that plant-based foods well and truly hit the mainstream. In the UK, sales of plant-based foods hit £1bn for the first time, with market research company Kantar finding that 13 million consumers had bought meat-free substitutes and dairy-free milk.