Fintech Mogo responds to U.N.’s “code-red” climate warning

In response to U.N. Secretary-General António Guterres’ stark warning that the Intergovernmental Panel on Climate Change’s 2021 report represents a “code red for humanity,” Mogo has turned its card into a “carbon-sucking machine.”

Through “Code Red Mode,” launched on Aug. 25, the Canadian fintech has partnered with fellow Vancouver-based planting management platform Veritree. For every transaction made using its MogoCard, a new tree will be planted – each with an carbon absorbing impact of 550 pounds. And to kick-off the initiative, Mogo will be planting an additional 100,000 trees.

Given that Canadians make approximately 575 cash, debit or credit transactions per year, Mogo estimates Canadians could each help offset around 318,000 pounds of CO2 per year simply by using the company as their payment provider.

The Body Shop expands refill program

Beauty retailer The Body Shop first used a refill service out of practical necessity. When founder Anita Roddick first opened her store in Brighton in 1976, she would fill customers’ bottles because she simply could not afford new ones, and believed in the need to reuse.

Now some 45 years laters, the company is returning to its roots, launching a national refill program across 400 stores globally this year, followed by another 400 stores in 2022, as the first step in a five-year plan to have refill stations in the majority of its locations worldwide.

By the end of 2021, 79% of Canadian locations will offer refills. Participating locations in Canada will offer a refillable aluminum bottle, and customers can choose from a selection of shower gels, shampoos, conditioners and hand washes.

The company first began testing refill stations in Canada as part of a new eco-friendly store concept back in March 2020.

Lululemon inks deal with biotech firm to create plant-based nylon

The retailer has partnered with Genomatica, a San Diego-based biotech firm specializing in sustainable materials, on a deal to create renewably-sourced, bio-based materials for its assortment of products.

In release, Lululemon said the collaboration represents its “first-ever equity investment in a sustainable materials company and Genomatica’s largest partnership within the retail industry.”

Together, the companies will work to create a lower-impact, plant-based nylon to replace conventional nylon, which Lululemon says currently represents the largest volume of synthetic material used in its products.

The partnership will help Lululemon deliver on its goal, first announced in October 2020, to make 100% of its products with sustainable materials and “end-of-use solutions” by 2030.