< PreviousCOIL | OUR FOOD FUTURE DRIVING CIRCULAR COLLABORATIONS TO ACHIEVE CANADA’S NET ZERO TARGETS Big things can happen when you start small, and the path to achieving ambitious national or international net-zero targets requires getting things right on a local level first. We spoke with Andrew Telfer, Circular Opportunity Innovation Launchpad and Development Lead, about two circular economy initiatives: Our Food Future and COIL, and how the combination of collaboration, a “think and do” attitude, and strategic funding have helped them accelerate climate-smart efforts through building an inclusive circular food system and advance the economy toward net-zero. 40 MAKE THE WORLD BETTER MAGAZINETell us about your organization's mission. Smart Cities (Guelph-Wellington) is a collaborative committed to driving circular economy development utiliz- ing its local place-based urban-rural testbed. Our developed best practices, learned lessons, and discovered obsta- cles are shared with other cities and regions across the country to accelerate the shift to a circular economy (CE) across Canada. We lead two CE-building ini- tiatives: Our Food Future and Circular Opportunity Innovation Launchpad (COIL). Our Food Future, unveiled in mid- 2019, is creating and implementing a robust circular food system in the Guelph-Wellington area of Ontario. We have four focus areas: reduce food waste, increase food access, drive circular collaborations, and aff ect systems-level change. Our Food Future includes 45+ currently-active or past projects. Projects, innovations, and ideas are tested and piloted in our living CE lab. COIL, announced in spring of 2021, is an innovation platform and network aimed at developing, proving, and scaling transformative solutions that will move Canada toward a prosper- ous, low-carbon circular economy. It contains a comprehensive suite of pro- grams, tools, and resources developed to achieve our goals of embedding and accelerating circularity through businesses and organizations, as well as across supply chains and material streams. Our resources include an ac- celerator, an incubator, upcycled-prod- uct certifi cation, innovation challenges, CE-learning curriculum, material fl ow analyses, as well as other circular econ- omy advancing programs and tools. What inspired you to start your organization? Our Food Future, our fl agship initia- tive, was inspired by Infrastructure Canada’s Smart Cities Challenge to build upon our region’s (City of Guelph and County of Wellington) strengths in agri-food and environ- mentalism. Our region is an inter- nationally-recognized hub of food innovation, production, and process- ing; the City has goals to become a net-zero community and to use 100% renewable energy in all its facilities by 2050; and the County has the largest municipal tree-planting program in North America – with over 2 million trees planted. Circular Opportunity Innovation Launchpad (COIL) was inspired by our eff orts with respect to business and organization collaboration under Our Food Future. We quickly real- ized that there was a growing need to help enterprises understand circular economy principles and implement related thinking in their processes and planning. We announced COIL in April 2021 and launched our fi rst set of CE-building programs by the end of that summer. Our Food Future Unveiled in mid- is creating and implementing a robust circular food system in the Guelph-Wellington area of Ontario We have four focus areas reduce food waste increase food access drive circular collaborations and affect systems-level change Our Food Future includes currently-active or past projects COIL Announced in spring of is an innovation platform and network aimed at developing proving and scaling transformative solutions that will move Canada toward a prosperous low-carbon circular economy It contains a comprehensive suite of programs tools and resources developed to achieve our goals of embedding and accelerating circularity through businesses and organizations as well as across supply chains and material streams Our resources include an accelerator an incubator upcycled-product certifi cation innovation challenges CE- learning curriculum material fl ow analyses as well as other circular economy advancing programs and tools FEB 2023 • ISSUE 04 41What were some of the challenges you encountered? Th e unexpected COVID-19 pandemic is the biggest challenge we have en- countered. We started our fi rst eff orts under Our Food Future in mid-2019, and the pandemic’s full eff ect struck 6-8 months later. Many programs had to be moved online and delivered with new approaches, with planning meetings and collaboration events being held via video conferences – and they all had to be just as engaging as if held in person. We persisted and, to this day, our stakeholders remain committed to our shared vision. What do you consider your organization's biggest success? Collaboration. Th e Smart Cities (Guelph-Wellington) team is fewer than 10 full-time people. We rely heavily on the enthusiastic eff orts of our collaborators. We have both local and national subject-matter-expert networks, and locally and provincially, we work with our City and County colleagues, social enterprises, innovative businesses, resource producers, and related academics. Across Canada, we stay connected with other leading cir- cular economy organizations to ensure our priorities and eff orts are aligned. Collaboration is key as it ensures incre- mental value is truly delivered and that there is little to no duplication of work. Best practices and learnings can quickly and easily be shared along established stakeholder networks so that developed knowledge can inform the current pri- orities and actions of all involved. What makes your organization unique? Our attachment to both the City of Guelph and the County of Wellington makes us unique, provides us a distinct perspective, and allows us to experi- ment within an urban-rural municipal setting. Our organization is a collabo- rative between two local governments, many community agencies, and multiple business leaders. We have an executive director; however, we follow a distributed leadership model with a focus on community-capacity building. How do you feel your organization makes the world better? Smart Cities (Guelph-Wellington) helps aff ect positive change in the world by sharing our circular economy expertise and experience. We know that circularity is an improved economic model versus a linear one – a circular economy is more effi cient, uses resourc- es more productively, and protects bio- diversity. We also know that the shift to a circular economy is essential to achieve net-zero targets, as simply tran- sitioning to renewables is not enough to reduce the amount of greenhouse gas emissions going into our atmosphere. How we help make the world better is by acting on this knowledge. Our organization shares its work and impact with other communities and munici- palities so that they understand both the urgency for and the opportunity of a circular economy. We use our expertise and experience to educate businesses and organizations across supply chains and within mate- rial streams on how circular practices and systems-thinking can help reduce both their costs and their impact on the environment. We consider ourselves a “think and do” organization – we learn from testing ideas and piloting projects, and we share our gained knowledge with others in an eff ort to broaden and accelerate actions that will drive the circular economy across Canada and around the world. How can capital be used as a force for positive change? We are a not-for-profi t organization. Our circular economy initiatives are primarily funded by Infrastructure Canada (Our Food Future) and Federal Economic Development Agency for Southern Ontario (Circular Opportunity Innovation Launchpad). We receive in-kind support from the City of Guelph and the County of Wellington in the form of services such as legal, IT, fi nance, and HR – as well as offi ce space. Some of our specifi c ef- forts and research projects have received support from private-sector funders Our organization is a collaborative between two local governments many community agencies and multiple business leaders 42 MAKE THE WORLD BETTER MAGAZINEsuch as Co-operators, Desjardins (GoodSpark Fund), Maple Leaf Foods, and Scotiabank (Net Zero Research Fund). On a larger scale, both public and private sectors provide capital to support organizations, such as ours, to boost circular economy development, as they have identifi ed the economic, environmental, and social benefi ts of such eff orts. Th en, the capital can be deployed further to enterprises in the form of educational programming or innovation funding to test new ideas, products, or practices. Our work helps identify the strongest ideas and innova- tions that have the greatest positive im- pact on the development of the circular economy in Canada. Th ank you to the governments and businesses who have recognized the need for change and who have provided capital to positively aff ect it. Tell us about your organization's goals. Our goal is to accelerate the transition to a circular economy across Canada, rather than continue with the current linear take-make-waste economic mod- el. Not only will a circular economy be more productive and effi cient in its use of resources, but it is also essential for our country to achieve its net-zero targets under its climate plan. Specifi c to Our Food Future, our goal is to build a technology-enabled and modern circular food economy in Guelph-Wellington, Ontario: a more resilient model where we reimagine an inclusive food-secure ecosystem where access to aff ordable, nutritious food is increased by 50%; where surplus and ex- cess materials are perceived as resources and not “waste;” where at least 50 new circular businesses and/or collaborations are created; and where circular econom- ic revenues are increased by 50%. With COIL, our goal is to acceler- ate climate-smart circularity through businesses, organizations, supply chains, and material streams. We began our eff orts in the food and construction, renovation, and demolition sectors; however, our goal is to advance cir- cular- and systems-thinking across all segments of the economy. Are there any upcoming initiatives or projects you'd like to share? We’re very proud to share that COIL has recently been granted $100,000 from Scotiabank’s Net Zero Research Fund to develop a circular economy as- sessment methodology to identify, eval- uate, and validate the best innovations and practices that will accelerate circu- larity. We are piloting our project in the agriculture sector as there is no current method available for fi rms, NGOs, in- vestors, and policymakers to recognize, assess, and incent the development of innovative practices. Our research work, focused on regenerative farming, will be fi eld-tested in our local living lab here in Guelph-Wellington. Our newly developed methodology will then be replicated in other sectors to ensure that related eff orts and funding will support only the strongest climate-smart ideas, innovations, and practices to advance a new circular economy. What do you most want people to know about your organization? Smart Cities (Guelph-Wellington) is here to help. Everything we do is in service to drive the transition to a circu- lar economy across Canada. With Our Food Future, we share our developed best practices, lessons learned, and identifi ed obstacles with all interested cities and regions so that they can work more quickly in their development of a local circular food system, and we have communicated our work and its impact on both national and interna- tional stages. With COIL, we provide funding, education, and a network to help companies and organizations either start on or move along the path toward circularity. How can people help or contribute to your organization's mission? It starts with rethinking waste. We must stop perceiving products at the end of their life cycle as garbage, but rather as materials that can be used as resourc- es for new and essential items. Our improved perception doesn’t just apply to consumer products – this new lens also concerns buildings, cars, industrial goods, etc. Th e less we have to go back to the earth for its resources, and the more we reuse and recycle materials diverted from landfi lls, the better off we will all be. Our work helps identify the strongest ideas and innovations that have the greatest positive impact on the development of the circular economy in Canada We must stop perceiving products at the end of their life cycle as garbage but rather as materials that can be used as resources for new and essential items coil.eco foodfuture.ca twitter.com/OurFoodFuture instagram.com/gwfoodfuture facebook.com/GWFoodFuture FEB 2023 • ISSUE 04 43UNA TERRA FUNDING SUSTAINABLE SOLUTIONS TO FIGHT CLIMATE CHANGE 44 MAKE THE WORLD BETTER MAGAZINETell us about your organization's mission. Una Terra is on a mission to empower and endorse positive and sustainable change through backing the most promising sustainable technol- ogies. As a venture capital (VC) fund, our vision is to combine focused strategy with passionate people and smart capital, with the aim of elimi- nating greenwashing and creating real change. With climate change mitigation and biodiver- sity recovery in a race against time, Una Terra be- lieves the next 10 years are critical for humanity. Radical acceleration in the adoption and scaling of sustainable technologies is required to achieve global targets. What inspired you and your co-founders to start your organization? Eager to make a diff erence, the founders started investing in companies that could accelerate solu- tions to climate change, but they were frustrated by the structure of the funding and decided there must be a better solution. As such, the germ of an idea – a fund focused on driving and support- ing sustainable green tech and innovation – be- gan to form in their minds. Luca Zerbini, Costas Papikonomou, and I got together and decided to establish a fund that championed sustainability. What were some of the challenges you and your co-founders encountered? Setting up a fund in Luxembourg was a lengthy process. Luxembourg is rated AAA for good reason – the due diligence behind the setup of the fund is incredible, something that many fund managers may be put off by because of the complexity of the process. Creating the right founding team was also a very interesting journey and we landed on a team that is very strong, and that shares the same vision and passion toward building a successful ESG fund where you don’t need to choose between profi t and planet. What do you consider your organization's biggest success? When it comes to the Una Terra Venture Capital Fund, we combine focused strategy with passion- ate people and smart capital. Using our extensive experience, we work close- ly with startups, giving them hands-on support to actively help them scale up. Th e result? No green wishing, just green impact. Th is is our biggest success. What makes your organization unique? Our edge is that we are commercially-viable innovators at heart. In too many well-intended ESG startups and scaleups, we see good money going after bad. At Una Terra we hunt for ideas grounded in the commercial rigor required to be successful. Our founding team each brings over 20 years of experience in scaling products and services in the most competitive markets on Earth. How do you feel your organization makes the world better? We only have one habitable planet, and climate change and biodiversity loss are threatening this beautiful world we live in. We are racing against time! Una Terra (Italian for One Earth) is commit- ted to scaling and accelerating the adoption of ideas the world needs more of – today! Our com- mitment is to reduce CO 2 emissions by 2 GT per year from the environment and 5% of plastic waste in the oceans by 2030. We can achieve this through our portfolio companies, by helping them with a full-fl edged team to accelerate growth and impact. In the world of venture capital, financial returns reign supreme. While that remains true, there is a better path forward where passion, purpose, and profits converge into a model that ultimately produces a win for the planet as well as for investors. Una Terra was founded in order to champion the commercial solutions needed to create a sustainable world. We spoke with Chiara Covone, COO and Founding Partner, about how this European-headquartered venture capital fund is improving the world, one investment at a time. FEB 2023 • ISSUE 04 45How can capital be used as a force for positive change? Th ere are only eight large funds in Europe that are dedicated to the ESG agenda. Th is is a ridiculously small number. Despite the explosion in sustainability-themed investments, only a small percentage goes to highly disruptive businesses that are sec- tor-shaping and fast-scaling through innovation. In fact, over US$30 trillion is fl owing into large cap companies with questionable ESG credentials (according to the Global Sustainable Investment Review), while very little (around $0.2 trillion) is going to innovative growth compa- nies and potential impact unicorns, whose business models are inherently impact-driven. Una Terra’s ambition is to help shift investment to where it is most impactful and meaningful. Tell us about your organization's goals. Una Terra aims to raise €300 million (C$430 million) to back and fuel European ESG startups and scaleups as the world looks to environmentally friendly innovations to create real change. We are focused on acceler- ating the adoption of today’s proven technologies and creating ecosystems for companies to fl ourish and have a positive impact on the world. Ultimately, Una Terra’s goal is to mitigate climate change and support biodiversity restoration through the latest available technologies. Are there any upcoming initiatives or projects you'd like to share? We are extremely proud and excited about the Una Terra Venture Capital Fund. Not only does it bring together a diverse founding partner team of very accomplished professionals and friends, but also allows us to bring to fruition our proven commercial, fi nancial, and operational capabilities to accelerate the profi table growth of ESG scaleups and transform entire industries that have an impact on climate change mitigation and biodi- versity restoration. For a couple of years, we prepared for this – listening to the advice of limited partners (LPs) and inves- tors, we created the best possible Luxembourg-based fund, investing in various startups, assembling an incredible team, and creating strong connections with impressive founders across Europe and beyond. We are convinced that Una Terra will be the platform to invest in sus- tainable innovation, and truly have an impact for our only planet and our children. What do you most want people to know about your organization? We scout for demand-side transfor- mation, that is products and services with proven market pull, that are generating revenue and are scalable. Our stringent selection, based on measurable impact and com- merce-focused due diligence, allows us to identify impact scaleups. All companies selected for investment have commercially viable products or services that businesses and consum- ers can immediately put to good use. Our fund is Article 9 compliant and B Corp pending. We are proud to be recognized as the “Innovative Fund For Our Future” by the World Economic Forum, out of a long list of other global funds. How can people help or contribute to your organization's mission? Follow us on LinkedIn and get in touch! We strongly believe in joining forces to help make the transition to more sustainable technologies smooth and the best choice for everyone. Our commitment is to reduce CO emissions by GT per year from the environment and of plastic waste in the oceans by We can achieve this through our portfolio companies by helping them with a full-fledged team to accelerate growth and impact unaterra.vc linkedin.com/company/ una-terra-vs From left to right: Chiara Covone, Chief Operating Offi cer; Luca A. Zerbini, Chief Executive Offi cer; Costas Papikonomou, Chief Investment Offi cer 46 MAKE THE WORLD BETTER MAGAZINEAmplify your message here Advertise in Make The World Better Magazine On a mission to spark positive change? We know a great audience for your initiatives. Catch the attention of like-minded individuals by advertising your purpose-driven organization in our magazine. To advertise, get in touch with us here: mtwb@sparxpg.com