Earth Day April 22 

By Julie Coventry | ESG Officer at NAOS Asset Management

Earth Day 2023 (Saturday April 22nd) promotes awareness of the importance of building a sustainable world and celebrating the achievements made so far. Started in the US over 50 years ago, areas of focus have grown to include reforestation, climate literacy, ending plastic pollution, fashion for the earth and global clean-ups amongst other important and diverse programs.

At NAOS, we have been fortunate to have relationships with two companies that promote and focus on some of these objectives.

Greening Australia is one of our charity partners, who we donate to each year. They are a not-for-profit organisation that is committed to tackling environmental challenges in the landscapes across the country. Its programs include restoring landscapes, carbon offsetting services and now a native seed provider.

Two of the largest issues of our time – biodiversity loss and climate change – are the key drivers of Greening Australia’s work.

Restoration projects are wide and varied and include the rehabilitation of the Great Southern landscapes in conjunction with landholders, improving water quality flowing to the Great Barrier Reef, restoring land in Tasmania to protect flora and fauna, and collaborating with First Nations Peoples to combine traditional knowledge with modern science.

Greening Australia also works with the World Wildlife Foundation - Australia to help prepare Australia for the impacts of a changing climate, asking how we can help nature adapt? With rising average temperatures, longer fire seasons and long-term changes in rainfall already evident, Greening Australia looks for solutions to help with climate-ready restoration. This involves combining all the knowledge available to predict change and developing practical solutions to tackle climate change.

Greening Australia is now also registered as having the largest aggregation for native reforestation carbon with the national energy regulator. Another highlight is the creation and expansion of native seed banks to assist in reforestation, which potentially can be rolled out to the entire country.

Another company helping the environment is Glam Corner, an online designer fashion rental business that has reduced the amount of clothing destined to being discarded after minimal use. Supporting the circular fashion economy rather than the linear economy, the rental of fashion items, has led to a “more sustainable alternative that is better for the community and the environment”. Glam Corner is a holding in the NAOS Private Opportunities Fund.

In 2023, it is estimated that the global economy is only 7.2% circular, a decline from 9.1% in 2018.¹

Material consumption has tripled in the last 50 years, and in advanced countries such as Australia, material consumption is far greater despite having a lower population than many other countries. Classified as a Shift country by the Circularity Gap Reporting Initiative, Australia needs to shift away from over-consuming the planet’s resources.

Glam Corner in this respect, has committed to sustainable practices that minimise the impact to the environment.

To date, as well as sharing 1000kg of clothing amongst its customers, Glam Corner:

• Uses laundry processes that use biodegradable water-based detergents at lower temperatures;
• Uses a dry-cleaning system that uses GreenEarth technology which reuses water and solvents;
• Makes use of cleaning and repairing of garments;
• Uses recyclable, compostable and biodegradable packaging including delivery satchels;
• Sells or donates unwanted items no longer “as new” and when no longer fit-for-use, are sent to create new yarn or shredded to make insulation.

Both companies are tackling environmental change in their own way – one by restoring the earth towards its natural position and the other by reducing the impact of the production of resources.

NAOS is proud to highlight these companies who are creating positive impact and change for the benefit of the environment.

Greening Australia and GlamCorner join NAOS as certified B Corporations, businesses that balance profit with purpose.