T H E
M A G A Z I N E
F O R
A N G L O - F R E N C H
FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk
B U S I N E S S JULY / AUGUST 2016
ARE YOU READY TO JOIN
THE CIRCULAR ECONOMY ?
IN THIS ISSUE: HE Ms Sylvie Bermann, French Ambassador to the UK, on Brexit 5 minutes with Tanuja Randery, Zone President UK & Ireland, Schneider Electric Interview: Dame Ellen MacArthur on the Circular Economy Jacques Attali makes the case for positivity at our Annual Gala Dinner Start-up story: Jonathan Benhamou, Founder & CEO of PeopleDoc, talks innovation and globalisation
Proud to be the UK’s largest producer of low carbon electricity Feel better energy To find out more about our low carbon nuclear generation visit www.edfenergy.com/energyfuture. Character under licence from BeatBots LLC. EDF Energy plc, registered number 2366852, registered office: 40 Grosvenor Place, London, SW1X 7EN. Incorporated in England & Wales.
ŠPhoto credits: Pascal le DoarÊ and COSEA photo libraries
CONSTRUCTING A SUSTAINABLE FUTURE At VINCI Construction Grands Projets, we engineer digital solutions that help us and our Clients in the conception and construction of our major projects. On SEA Tours-Bordeaux high speed rail line (302 km and 38 km of connecting track), we developed a bespoke information system allowing sharing of processes and data between all partners (80 design offices, 5 sub-consortiums, 3,500 employees) that offers the most reliable performance. We introduced an Electronic Document Management System (EDMS) and a Geographical Information System (GIS) whose 3D interface fostered collaboration with clients and stakeholders. This real Asset Information Management (AIM) is being transferred to the dedicated company for the maintenance of the project over 45 years.
In the UK, we are currently placing our BIM expertise at the core of infrastructure projects such as Tideway East and the M4 Corridor around Newport, with the aim of providing enhanced collaboration and efficiency. By EXCELLENCE, we mean designing and building quicker, safer and at best value. www.vinci-construction-projects.com/british-isles
EDITORIAL
Estelle Brachlianoff President, French Chamber of Great Britain Senior Executive Vice President of Veolia UK & Ireland
T
he British people have made their choice to leave the European Union. I understand that our members will be concerned and need time to assess the implications, but it is important to remember that the legal situation today is no different to that before the referendum. The UK will remain in the European Union for at least the next two years. We must take advantage of this ‘breathing space’ and ensure the views of the Franco-British business community are heard during the forthcoming negotiations. We, at the Chamber, will do our best to support you in dealing with the inevitable changes. This issue of INFO focuses on a solution to another challenge our world faces, which is how we can creatively and innovatively manage our finite resources and limit the environmental impact of the waste our linear economy churns out. The concept of a circular economy is a topic close to my heart as it is central to my own vision of sustainability and increasingly, businesses both big and small, are looking at ways of becoming more circular in their models, products and processes, or are starting up as circular from the outset. We interview Dame Ellen MacArthur, whose experiences sailing solo around the world taught her the meaning of finite resources, and led her to set up the Ellen MacArthur Foundation, which is leading research and initiatives for the transition to this sustainable, capital-building model. On the macro level, several articles consider the policy mixes and scenarios that would support such a shift, while on the company level, others look at how circular economy strategies could be implemented and what is being done by businesses such as Veolia, Schneider Electric, Renault and VINCI, as well as start-ups, which have broken new ground with their circular models. Read on and judge for yourself whether we really are on the cusp of a new industrial revolution that you should join. As this issue also attests, the Chamber has had a very busy couple of months, topped by our Annual Gala Dinner at which Jacques Attali spoke brilliantly and inspiringly about his vision for a more positive world. Positivity is a strong and hopeful message in these uncertain times, and on that note, I wish you a wonderful summer. I
info
- july / august 2016 - 3
All-New
Renault KADJAR Voted best SUV in the 2016 Auto Express Driver Power Survey. You said it, not us.
Panoramic Sunroof BOSE Energy Efficient Seven-Speaker and Subwoofer Full LED Headlights
To find out more visit renault.co.uk The official fuel consumption figures in mpg (l/100km) for the All-New Renault KADJAR Signature Nav dCi 110 are: Urban 67.3 (4.2); Extra Urban 74.3 (3.8); Combined 72.4 (3.9). The official CO2 emissions are103g/km. EU Directive and Regulation 692/2008 test environment figures. Fuel consumption and CO2 may vary according to driving styles, road conditions and other factors. Model shown is All-New Renault KADJAR Signature Nav dCi 110.
THE CIRCULAR ECONOMY ?
CONTENTS
ARE YOU READY TO JOIN
50 32
42
26 COMME NT
6
HE Ms Sylvie Bermann, French Ambassador to the UK, on Brexit
BUSINE S S WOR LD
8
5 minutes with... Tanuja Randery, Zone President UK & Ireland, Schneider Electric
10 Total inaugurates Laggan-Tormore Project 11 Alstom awarded major resignalling contract 13 Veolia to co-develop Rookery South ERF Legrand Electric acquires CP Electronics 14 Chamber member companies amongst ‘Top 50 Employers for Women’ 15 Start-up & SME news 18 Interview: Tramonex on its government grant for blockchain development 19 Profile: Microsoft Accelerator London 20 Start-up Story: PeopleDoc 21 Reports and research: EY, Sopra Steria, Eptica 23 Charity news: Celebrating 25 years of Emmaus in the UK E DUC ATION
24 News briefs 26 FOCUS
Are you ready to join the circular economy? 27 The circular economy opportunity 28 Interview: Dame Ellen MacArthur 30 What would be the impact of a resource efficient and circular economy? 31 How the circular economy can cut unemployment 32 Circular city: the case for London 33 The social dilemma of the circular economy 34 Tax or target? How to incentivise a shift to closed-loop supply chains 35 The paradigm shift: how the circular economy could work for business 36 How easy is it for companies to implement circular economy ideas? 37 CE100 - businesses taking Circular seriously 38 Veolia: Innovation driven by the circular economy 40 Schneider Electric: Circular by design 42 Renault: The drive towards circularity
28
43 VINCI: Waste optimisation in construction 44 Mossessian Architecture: The built environment and the circular economy 45 Supporting growth & innovation of circular start-ups and SMEs 46 Moi, moche et wonky: rethinking food waste 47 Case study: bio-bean - recycling waste coffee grounds into advanced biofuels 48 Let’s create a future for waste paper 49 Case study: Axelle&Cie - Positive Planet’s circular economy project 50 The circular economy around the world
T H E
M A G A Z I N E
F O R
A N G L O - F R E N C H
FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk
B U S I N E S S JULY / AUGUST 2016
ARE YOU READY TO JOIN
THE CIRCULAR ECONOMY ?
IN THIS ISSUE: HE Ms Sylvie Bermann, French Ambassador to the UK, on Brexit 5 minutes with Tanuja Randery, Zone President UK & Ireland Global Solutions, Schneider Electric Interview: Dame Ellen MacArthur on the Circular Economy Jacques Attali makes the case for positivity at our Annual Gala Dinner Start-up story: Jonathan Benhamou, Founder & CEO of PeopleDoc, talks innovation and globalisation
LIFE S T YLE
52 Reimagining the masters 54 L.E.J.’s London debut 55 Exhibitions and events 56 English bubbles for Vranken-Pommery Monopole 57 Eat, Drink, Stay - briefs 58 Cheese & Wine Press 59 Le Petit Ballon: wine to your taste on order 60 Travelogue: The colour and rhythm of Brazil 61 Books 62 CHAMBE R HAPPE NINGS
63 64 66 67 68 69 70 72
Chamber shorties New members Breakfast with Michael Borrell, Total Ambassador’s Brief: Focus on Ireland Rendez-vous chez... Big Fernand / The Dentist Gallery AGM: Achievements and ambitions Annual Gala Dinner: A positive performance Patron events
FORUMS & CLUBS
73 74 75 76 78 79 80 82
Digital transformation & innovation Alternative funding and liquidity for SMEs What is your climate story? Engagement and retention Data protection compliance: taking your first steps How start-ups can attract and retain talent Are you ready to exit? Forthcoming Forums & Clubs Forthcoming Events
Managing Director: Florence Gomez Editor: Keri Fuller Head of Corporate Communications: Marielle Fraize Graphic design & cover artwork: Katherine Millet Advertising & Sales: Suzanne Lycett Publications Assistant: Aurore Largerie INFO is published every 2 months Printed by: CPI Colour Contributors: Sam Aflaki, Dustin Benton, Estelle Brachlianoff, Jamie Butterworth, Fred Caharel, Eric Charriaux, Teresa Domenech, Mark Esposito, Laurie-Anne Evra-Ancenys, Marie Fouris, Stephanie Godderidge, John Halton, Mathieu Hestin, Nicolas Jacquier, Anne-France Kennedy, Agata Kozolup, Thibault Lavergne, Henry le Fleming, Dame Ellen MacArthur, Shumail Mazahir, Stéphane Eyraud, Khaled Soufani, Adam Thorpe, Jeremy Townsend, Terence Tse, Paul Turner, Rodney Turtle Distribution: French Chamber members, Franco-British decision makers, Business Class lounges of Eurostar, Eurotunnel and Air France in London, Paris and Manchester Editorial and Publishing Office: French Chamber of Great Britain Lincoln House, 300 High Holborn London WC1V 7JH Tel: (020) 7092 6600; Fax: (020) 7092 6601 www.frenchchamber.co.uk
info
- july / august 2016 - 5
COMMENT
HE Ms Sylvie Bermann, French Ambassador to the UK, on
BREXIT
6 - info - july / august 2016
Were you surprised
to be part of the single market, it will have to respect this rule.
by the result of the referendum and how
What will Brexit mean for the 3 million EU citizens living
do you explain it?
and working in the UK, including more than 300,000
It came as sad news.
French people, and 1.2 million British people in Europe?
The United Kingdom is a
As you can imagine, we’re following this issue very closely at
great nation; the British
the Embassy. But in the short term, as long as the UK remains
are a great people.
part of the EU, there will be no change.
Their decision has to be respected. However,
What will the consequences be for the 3,000+ French
the French authorities,
companies and subsidiaries settled in the UK, which
along with the rest of
employ more than 300,000 people?
the EU member states
For now, the situation of French companies in the UK remains
were clear from the start: we wanted the UK to remain a part
unchanged. I am fully aware of how difficult and unstable this
of the European family. This would have been in everyone’s
period is for businesses, and I, along with the various French
interest; as a union we are stronger when it comes to tackling
Embassy departments, are here to support them in any way
the economic, security and environmental issues of the
we can throughout this process.
twenty-first century. With Northern Ireland and Scotland largely voting to Do you think Article 50 should be activated quickly to
remain, do you think Brexit will lead to the end of the
avoid uncertainty or does such a momentous decision
United Kingdom?
require more time?
I can only say that the negotiations we’ll have will only be held
It is of course in everyone’s interest to limit uncertainty.
between the EU and the United Kingdom, not with a part of
France’s position is clear on this: Article 50 should be
the UK.
activated as soon as a new British prime minister is appointed (which should happen early in September), as
How is Brexit perceived in France and could there be a
stated by all EU member states at the last European Council.
push there to leave the EU too? This referendum has increased the need to be more effective
Are EU countries united in wanting to take a tough
in directly addressing the concerns of EU citizens, especially
stance against the UK in the negotiations that follow?
when it comes to ensuring their protection and security,
It is not a question of toughness, but of clarity. France and
by increasing efforts related to border control and fighting
the other member states are united in wanting the official
terrorism, but also in supporting growth and jobs.
negotiations to start as soon as possible. And there can be
The EU needs to be stronger on its high-priority issues but
no informal negotiations beforehand. The longer we wait, the
also take a step back when it comes to issues that individual
more serious the economic, political and financial problems
member states are better at dealing with.
we will have to face. Is the Le Touquet Agreement, which allows UK border What is France’s position?
controls on French soil, in jeopardy?
We are confronted with a very new and complex situation.
The French authorities have been very clear that the
The specific outcomes cannot be predicted for now,
Le Touquet Agreement will be maintained.
especially since we don’t know what the UK will ask for. However, France’s close bilateral cooperation with the UK
Does Brexit have any implications for the Lancaster
will continue, for example through our work together as
House Treaty on bilateral defence co-operation?
members of the Security Council, and on defence.
As President Hollande reiterated following the European Council, whatever happens, France will maintain a strong
Do you think freedom of movement is a prerequisite for
relationship with the UK. Besides our geographical proximity
the UK to remain part of the single market?
and shared history, we have very similar positions on a
To be part of the single market, four categories of freedom of
number of strategic issues. Defence is among the most
movement have to be respected: goods, capital, services and
important of them, and the Lancaster House Treaty will be maintained. I Interview by KF and FA
people. The single market is a whole package. If the UK wants
info
- july / august 2016 - 7
5 minutes with...
Tanuja Randery Zone President UK & Ireland, Schneider Electric You became Schneider Electric’s UK & Ireland President last
Leeds, Swindon and Scarborough together with large facilities
year, having held a number of leadership roles in global
in Maynooth and Galway, Schneider is able to serve customers
technology and telecommunications firms. What do you do
across all sectors in the public and private domain. We also
in your role and has your previous experience fed into what
work closely with our channel partners in electrical distribution,
you do now?
contracting and panel builders to ensure we provide the best
I have broadly split my career between strategy and operations
services to our joint client base.
working across a number of blue-chip technology and telecoms businesses in Europe, the US and now the UK and Ireland. It’s this
What you do as a company intersects two of the big issues of
breadth of experience, international and industry, that enables
the day – digital transformation, which is increasing demand
me to take best practices from across sectors to drive change in
for energy, and climate change, which compels more
the industrial sector.
efficiency and sustainability. Can these be reconciled with
As President of Schneider Electric’s UK & Ireland zone
any innovations that Schneider is bringing to the market?
I’m responsible for our business across IT, Energy, Buildings,
The three megatrends of urbanisation, digitisation and
Infrastructure and Industry. Strategy and execution in region,
decarbonisation are driving significant change. If we take
customer relationships, employees and relationships with
buildings for example, by 2040, the world’s urban population
government, industry associations and analysts also fall within
will have increased by 2.5 billion, requiring a new city the size of
my remit. Accelerating growth in our core business is a key area
Hong Kong approximately every month, for the next 25 years.
of focus and there are two things that are required to make this
In that time, electricity consumption in buildings will increase by
happen. First is a renewed strategic focus and transformation
80%. Buildings already consume 50% of all the power generated
plan. By outlining a clear direction, I can help transition to a more
on Earth and are responsible for 40% of all greenhouse gas
solutions mindset, bringing together our products and services
emissions. Connective technology, combining asset management,
across the various businesses to our customers in a more holistic
energy management and operational efficiency allows more
manner. Second is the focus on operational execution and
effective management, and in turn savings. We are able to take
excellence. Putting the customer at the heart of everything we do
an average building as it is, and achieve a 30% gain in energy
will bring us closer to our customers and help deliver on growth
efficiency. We have already applied these technologies to our
targets.
own HQ.
Schneider Electric is a renowned global specialist in energy
of enterprise digital transformation, unifying OT (operations
management and automation; what is the scope of its UK
technology) and IT, enabled by more affordable ‘connected’
and Ireland activities?
sensors combined with embedded intelligence and control,
Our technologies ensure that Life Is On everywhere, for everyone
faster and more ubiquitous communications networks, Cloud
and at every moment. The UK & Ireland represents Schneider
infrastructure and advanced data analytics capabilities. Staying
Electric’s fourth largest zone and spans the power, industrial,
with the aforementioned building example, not only can
data centre and IT as well as buildings businesses. Across each
significant savings be achieved, but also, with an increased level of
of these, our main objective is to provide systems, products
connectivity, the building environment can easily be managed to
and services that help people use electricity safely, efficiently
ensure people feel safe, comfortable and connected. By bringing
and in ways that conserve energy and other natural resources.
together IT and OT we can connect systems such as lighting,
With nine manufacturing sites in the UK, including Telford,
HVAC (central heating, ventilation and air-conditioning), access
The Internet of Things (IoT) will provide the next wave
8 - info - july / august 2016
5 M I N U T E S W I T H . . . TA N U J A R A N D E R Y
control, space management and even blinds. These capabilities
also brings complete environmental information to everyone,
allow building managers to provide the best possible experience
from homeowners, building managers and architects, to our
for the occupants of the building, whether that is by managing
distributors and OEM partners to help them reach efficiency
the temperature or lighting or enabling easy room scheduling
goals and exceed industry sustainability standards.
from a mobile device. You are very active on Twitter, particularly about gender How is Schneider involved in the IoT revolution?
equality in the energy and technology sectors. What do you
Schneider Electric is an IoT pioneer with a long history
think could be done to get more women into these sectors,
of innovation in open architectures and Ethernet-based
and does Schneider Electric have any of its own initiatives?
technologies. We launched our first digital distributed control
I’m proud of the work Schneider is doing in this area, including
system – by its very nature, digital and connected – in 1987,
our participation in the global HeForShe initiative. It all starts with
four years before the launch of the World Wide Web! By the
our CEO, Jean-Pascal Tricoire, who received a coveted Women’s
1990s, we were implementing Ethernet and web servers in our
Empowerment Principles award earlier this year in recognition of
programmable logic controllers while our competitors were still
his commitment to empowering women in the workplace.
promoting proprietary protocols. We’ve continued to innovate,
We also set clear targets for diversity. Businesses set growth
with products and solutions such as the award-winning Modicon
targets, so why is this any different? We aim to achieve 40%
M580 ePAC, the first controller with Ethernet built right into its
female employees at entry level, 33% at senior management level
backplane. Today, we’re taking it one step further to integrate IT
and this year we are proud to have achieved a 50-50 gender split
with OT with Process Automation. Bringing these areas together
in our graduate intake. Targets are not just internal, we require
with our combination of hardware, software and Cloud services
search firms to include at least one women candidate on all
enables us to drive efficiency and savings across the entire
management position shortlists.
Energy Value chain.
Setting targets for recruitment is a great place to start, but it’s crucial that women are nurtured at all stages of their career. At
The Internet of Things will provide the next wave of enterprise digital transformation
Schneider Electric we look at flexible working policies, recognition and role modelling as well as putting processes in place to ensure talented women don’t miss out on promotion opportunities. Outside of Schneider, I am an active speaker on the topic and also run the Power Women network which brings together a number of senior women in UK industry.
Schneider Electric has been ranked the ninth most
What does Schneider Electric get from being a member of
sustainable company on the planet. What are some of the
the French Chamber?
things you do to earn this accolade?
I’m excited to have recently joined the Advisory Council of the
At Schneider Electric we believe that economic, environmental
French Chamber. Membership offers access to a great network
and social interests are convergent and as such, we remain
of executives with which to discuss common ideas and share
committed to sustainability. We recently pledged a number of
best practices. This benefit spans the business with our teams
commitments at COP21 to help sustain customer resources
in HR, finance and other areas taking advantage of the expert
and reduce CO2 emissions. This includes reducing our own
forums and networking events to grow and develop their skills. As
energy intensity by 3.5% each year, avoiding 120,000 tons of CO2
members we are able to leverage the French Chamber’s voice in
through circular economy ‘end-of-life’ services, as well as investing
key discussions in the UK for the benefit of ours, as well as other
€10bn on innovation in sustainability over the next 10 years.
Franco-British businesses. I Interview by KF
The company also defines and measures specific objectives each quarter in the Planet & Society barometer. This has been
SC H N E I D E R E LEC TR I C: FAC TS A N D FI G U R ES
our sustainability scorecard since 2005 with objectives defined for a three-year period and quarterly results for key performance indicators. Through the BipBop programme, Schneider Electric develops access to safe, reliable, affordable and clean energy for
• UK employees: 4,400
people at the bottom of the pyramid worldwide. Our membership of the CE100 programme (see page 37) is
• Global employees: 160,000
a major step on the journey to a more sustainable and efficient world. A number of initiatives have been implemented to
• Global turnover: ~$30 billion in FY2015
reduce the use of raw materials and waste. In Q1 2015, 39 of
• The UK is one of Schneider Electric’s
our industrial sites tended toward ‘zero waste’: on these sites, non-metallic landfilled waste does not exceed 3% of the total
key markets
production and metallic waste 1%. Our Green Premium ecolabel
info
- july / august 2016 - 9
BUSINESS WORLD - COMPANY NEWS
Total inaugurates Laggan-Tormore Project in the Shetlands
The Laggan-Tormore inauguration ceremony was held on 16 May at the Shetland Gas Plant in the presence of government and industry partners including Amber Rudd MP, the UK Government Secretary of State for Energy and Climate Change and Patrick Pouyanné, Chairman and CEO of Total. The Laggan-Tormore fields began production on 7 February and production has since ramped up to the full capacity of 90,000 barrels of oil equivalent per day (boe/d). UK Government Secretary of State for Energy and Climate Change Amber Rudd said: ‘This vote of confidence in the offshore oil and gas industry is great news for the Shetland Islands and for the UK as a whole, creating jobs and providing secure, affordable energy to the UK’s families and businesses for decades to come. North Sea oil and gas is crucial to our energy mix and this Government is clear that the broad shoulders of the UK are firmly behind this vital industry and the thousands of workers and families it supports. We are 100% committed to helping our oil and gas industry attract investment, unlock new potential and remain competitive for the future.’ I www.total.uk
Above: Shetland Gas Plant Top left: Patrick Pouyanné, Chairman and CEO of Total Left: Patrick Pouyanné and Amber Rudd MP, Secretary of State for Energy and Climate Change
HSBC launches £10bn fund to support UK SMEs The £10bn lending fund is the largest package of support
• Changes that will make banking cheaper for customers: a
to be announced by HSBC for UK SMEs as part of a broader
reduction in the Personal Guarantee Fee from £80 to £10 for
commitment to make banking cheaper and simpler for
any lending facility above £10,000
customers, and it has been structured to ensure it’s truly UK-
• The launch of the Business Lending Eligibility Checker (BLEC):
wide.
an online tool offering potential new customers a credit
The broader package of support also includes:
decision in principle for loans of up to £30,000 in under two
• A free banking offer of up to 18 months for start-ups and 12
minutes
months for switchers
• A free text alert service for informal overdrafts, which will
• The introduction of year-long, fixed-price £5.50 monthly
help customers avoid paying informal overdraft fees and
account tariff, to commence at the end of a customer’s initial
interest. I
free banking period
www.hsbc.co.uk
10 - info - july / august 2016
BUSINE S S WOR LD - COMPANY NE WS
Alstom awarded major resignalling contract in the UK Alstom has been awarded a major
is now responsible
contract worth over €100 million by
for providing
Network Rail for the full resignalling of
signalling renewals
the Great Western Main Line between
and enhancements
Reading and Paddington in the west of
as primary supplier
London.
in three out of eight
Network Rail and Alstom have worked in close collaboration to develop an interlocking solution based
geographical regions in the UK. Meanwhile, Alstom
on Alstom’s Smartlock range, developed
has completed major
for the most complex and challenging
refurbishment work on
major railway resignalling projects. The
the Pendolino fleet which comprises 56
a much broader set of trains, allowing
works, which include both the renewal
Class 390 ‘tilting’ trains used by Virgin
us to significantly increase our
of the existing Interlocking and some
on the West Coast Main Line. The
manufacturing capability in the UK. We
track remodelling, have already started
project is Alstom’s fourth heavy
have supported over 120 local jobs with
and are due to reach completion by
overhaul of the fleet.
this work and put millions of pounds
the end of 2017. ‘Alstom is very proud to take part in
‘This project has been a real success
into the local economy by working
story for Alstom and the team of highly-
closely with local suppliers in the North
this project and will provide Network
skilled engineers who have done a
West,’ said Rob Whyte, Managing
Rail with state-of-the-art, proven
fantastic job in such a short space of
Director Regional and Intercity,
and reliable solutions,’ declared Nick
time. The new facility was purpose-built
Alstom UK&I. I
Crossfield, Managing Director, Train
for our work on the Class 390 trains,
www.alstom.com
Control solutions in the UK. Alstom
but with the flexibility to accommodate
PSA Peugeot Citroën becomes ‘Groupe PSA’ The company has unveiled its new ‘Groupe PSA’ brand and adopted a new logo. The Group’s new identity is aligned with the shift in its business model towards a broader portfolio of business activities and expanding its customer base through digital innovation. I www.psa-peugeot-citroen.com
Aviva enters partnership with The Founders Factory Aviva has entered into a partnership with Founders Factory, a leading multi-sector digital accelerator and incubator, cofounded by Brent Hoberman, Henry Lane Fox and Jim Meyerle. Founders Factory will build and develop over 200 innovative technology businesses over the next five years, providing capital and resources to support their growth. Aviva will be its exclusive financial services partner, working with seven startups, each year, over this period. The partnership will support Aviva’s broader digital strategy, creating opportunities for technical specialists, creative designers and commercial teams to test and develop new ideas and services aimed at making insurance and financial services more tailored and accessible to Aviva’s customers. The in-house team of experts at Founders Factory, many of whom are successful entrepreneurs themselves, will provide hands-on support and advice to participating startups, as well as working with its corporate partners to build and launch new products and services. As part of the agreement, Aviva’s venture capital arm, Aviva
Ventures, has made a multimillion pound equity investment in Founders Factory. Andrew Brem, Chief Digital Officer, Aviva, said: ‘Insurance and financial services has been stuck in a bygone, analogue era when it comes to engaging with customers – we believe it’s high time to bring the industry into the digital age, for the benefit of customers and insurers alike. Partnering with Founders Factory gives us an opportunity to work with a highly talented pool of entrepreneurs who can help us identify new opportunities and deliver them. Only by being brave and disruptive can we truly accelerate our digital strategy and ensure we are giving customers what they rightly expect.’ I www.aviva.com info
- july / august 2016 - 11
BUSINE S S WOR LD - COMPANY NE WS
Atos launches Atos Codex to help companies unlock data value Atos has launched Atos Codex, a fully
deployment and ongoing evolution
value approach, we demonstrated in
integrated and cross market end-to-
management.
various pilots that the actual business
end analytics solution that enables
Ursula Morgenstern, Head of Global
organisations to maximise the value of
Consulting and Systems Integration at
weeks
their data quickly and cost efficiently.
Atos, said: ‘Data is the new black gold
consulting and platform approach.
It
provides
data
analytics
value can be monetised quickly within through
our
out-of-the-box
end-to-
that is fuelling the digital revolution –
In the digital era, smart use of data
end along the complete IT value
but as oil, data is useless in its natural
analytics is a competitive differentiator
chain. The services range from digital
format and needs to be refined. Atos
and we believe that with Atos Codex, we
transformation strategy & consulting,
Codex offers organisations fast and
can help organisations stay one step
use case business modelling, data
cost efficient means to exploit the value
ahead and become disrupters rather
science
of their existing data. With our proof of
than being disrupted.’ I www.atos.net
expertise,
agile
analytics
ENGIE selects Fjord to drive its digital transformation ENGIE, a global provider of electricity, natural gas and energy services, has selected Fjord, a design and innovation consultancy that is part of Accenture, to reinvent its retail business model and drive digital disruption in the market. The two organisations plan to review ENGIE’s retail operations and transform the digital experience for ENGIE’s business and residential customers. This includes reimagining the delivery of traditional commodity services, like selling gas and electricity, and designing new services to disrupt the market, challenge competitors and new entrants, and ultimately position ENGIE to move into new regions. These could include exploring how to service the new era of electric and self-driving vehicles through to connecting the coming wave of home solutions for customers. ‘As part of our ambitious three-year transformation plan to become a forerunner of the future energy world, we are making a big investment to digitise our company, redefine the customer experience and set new rules of engagement in the industry,’ said Isabelle Kocher, CEO of ENGIE. The digital transformation of its retail business will be expanded across the company’s global operations. Tailored to the needs of each market, the program will be designed to benefit its residential customers, as well as small and medium enterprises and large business and industrial sector clients. I www.engie.com
Crowe Horwath Global Risk Consulting buys BaxterBruce Crowe Horwath Global Risk Consulting (CHGRC), has
a reputation for excellence underpinned by deep actuarial,
acquired BaxterBruce Ltd, a specialist insurance industry
regulatory and change management capability.
management consulting firm. By joining forces, the two firms
‘Crowe Horwath Global Risk Consulting and BaxterBruce
will create one of the UK’s premier risk consulting firms to the
have built their businesses on similar values, which we
financial services industry.
believe is key to our success together in the future,’ said CEO
Established in 2009, BaxterBruce specialises in risk
Jonathan Burnett. ‘I am delighted that our people and our
management, capital management and regulatory change to
clients globally will benefit from our two firms joining forces
the insurance industry in the UK. The firm, which has been
in the UK.’ I
expanding at a rate of more than 20% each year, has built
www.crowehorwath.net
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Veolia to co-develop Rookery South Energy Recovery Facility Veolia
and
Covanta
are
joining forces, under a Project Development Agreement, to develop the Energy Recovery Facility at Rookery South Pit near Stewartby, Bedfordshire, which will create sufficient low carbon energy to power up to 65,000 homes. When
completed,
the
facility is expected to generate over 50MWe of electricity and will create around 300 jobs during construction, with 4050 permanent roles including apprenticeships. It is also designed to be combined heat and power ready to allow for the future development of local district heating. The facility will be powered via municipal, commercial and industrial residual waste from the surrounding area. The development will also bring a range of local community, employment, infrastructure and environmental benefits through the legal agreements included within the consent for the site. I www.veolia.co.uk
Legrand Electric acquires CP Electronics Legrand Electric Limited has acquired CP Electronics Limited, the UK leader in energy efficient lighting controls. Solutions from CP Electronics are complementary to Legrand’s offer in the commercial segment, where the company has leading positions in workstation solutions and in cable management systems. More generally, CP Electronics will boost Legrand’s international presence in energy efficient lighting control, a market driven by new building regulations and increased demand for energy saving solutions and where Legrand already commands a leading position in the US thanks to its Wattstopper brand. London-based CP Electronics employs 180 people. CP Electronics will form part of a newly created energy controls business unit, run by CP Electronics management team reporting to Tony Greig, CEO of Legrand Electric. I www.legrand.co.uk
GE gas engine-powered energy centre for NHS GE’s Distributed Power business has officially started up its new high-efficiency trigeneration power plant at Barts Health NHS Trust, which is Europe’s oldest hospital. The new natural gas energy centre was built to increase the hospital’s energy security and efficiency while reducing its fuel costs and curbing its environmental impacts. One of GE’s Ecomagination qualified 1.4-megawatt (MW) Jenbacher gas engines has been installed to supply reliable electricity and heat, while for the combined cooling, heat and power (CCHP) energy centre, a 250-kilowatt absorption chiller will deliver needed cooling water for the hospital and balance of plant equipment. I www.ge.com
info
- july / august 2016 - 13
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easyJet and CFM celebrate 20th anniversary easyJet and aircraft engine manufacturer CFM International,
and 2013, and the airline is already making good progress
which is a joint venture between GE Aviation, a division of General
on its current target of a further 8% reduction between 2013
Electric, and Snecma, a division of Safran, have celebrated their
and 2020. The LEAP-1A engine will play a major role in this
successful 20-year partnership, built on a shared commitment
reduction by delivering a 15% fuel efficiency improvement and
to progressively reduce the cost as well as the impact of flying
CO2 emissions compared to the CFM56. The aircraft is also
and is exemplified by the innovative LEAP-1A engines that will
quieter and will comply with ICAO Chapter 14 regulations.
power easyJet’s Airbus A320neos from 2017.
The engines are assembled at CFM’s factory in Villaroche,
easyJet’s passengers’ carbon footprint is among the lowest
France. Some 450 suppliers provide parts for the LEAP engines
in the industry at 81.05 grams CO2 per passenger kilometre.
and in total, CFM estimates that the new engines support
This has decreased by more than a quarter between 2001
around 10,000 jobs in Europe and the US. I www.easyjet.com
JCDecaux digitalises Oxford Street and other shopping destinations JCDecaux has launched its digitisation of Europe’s busiest shopping destination, Oxford Street with 50 new double-sided digital screens at bus shelters located near premium retailers such as Selfridges, John Lewis, House of Fraser and Debenhams. The digital transformation of Oxford Street’s bus shelter network is part of JCDecaux’s London Digital Network (LDN) roll out of 1,000 84-inch fully connected, dynamic HD screens after being awarded the world’s largest bus shelter advertising concession by Transport for London (TfL) earlier this year. Oxford Street, offers its half million daily visitors a choice of more than 300 retailers and accounts for an annual retail spend of one billion pounds. JCDecaux’s LDN is fuelled by data and allows brands to utilise its media planning and buying tool SmartBRICS and its recently launched SmartCONTENT platform allowing advertisers to make dynamic, contextual ads. The company has also recently added two major shopping centres to its portfolio - the Bentall Centre, Kingston and Telford Shopping Centre. I www.jcdecaux.co.uk
Chamber member companies amongst ‘Top 50 Employers for Women’ Nine Chamber member companies were named as leaders in workplace gender equality in The Times Top 50 Employers for Women 2016, namely Deloitte, EDF Energy, Eversheds LLP, EY, GE, HSBC, KPMG, Lloyds Banking Group and PwC. The list is published in partnership with Business in the Community, the Prince’s Responsible Business Network, as part of the charity’s Responsible Business Week. All organisations within the Top 50 have demonstrated that gender equality is a key part of their business strategy, with consistent commitment to creating workplaces and cultures that are inclusive of women from entry level through to senior leadership. I
14 - info - july / august 2016
BUSINE S S WOR LD - S TART- UPS & SME S
Jean Paul Viguier selected for timber-framed tower complex in Bordeaux French architect Jean-Paul Viguier et Associés has won a competition to design a new 57-metre-high residential tower in Bordeaux. The 17,000-square-metre scheme includes three blocks with engineered timber structures, including an 18-storey tower that could become the world’s tallest modern timber-framed building when complete. Named Hyperion, after the tallest living tree on earth, it was selected ahead of leading firms for the €51 million (£40 million) project, which will create 82 apartments and offices, and will serve as a reference for a new generation of low-carbon buildings. Its pre-fabrication will reduce construction time on site, minimising the negative impacts associated with a traditional process creating dust, vibration and noise. Construction begins in 2017 and its completion is expected in 2019. I www.viguier.com
CWF Retail to produce ZADIG & VOLTAIRE children’s collection CWF, experts in the manufacture and distribution of children’s fashion, have signed a global licensing agreement with ZADIG & VOLTAIRE for the design, manufacture and distribution of a children’s collection under the ZADIG & VOLTAIRE brand name, starting from the Spring/Summer 2017 season. The addition of ZADIG & VOLTAIRE to CWF’s portfolio of licences rounds off their offer of premium brands and reflects the group’s strategy of collaborating with big French and international names. The children’s collections will be inspired by the adults’ ready-to-wear, mirroring its casual cool, rock n’ roll style, and centring on the iconic designs and materials that have made the adult line such a success. I www.groupecwf.com
Silent dance floor & sign language at Dans le Noir? Renowned London venue, Dans le Noir ? is hijacking the senses of London’s clubbers with a unique weekly addition to the Capital’s nightlife scene. Dans le Noir? Otra Vista Social Club offers a fun and thought-provoking way to spend Friday nights, and was launched in conjunction with Dans le Noir?’s 10 th Anniversary. Dans le Noir?, globally recognised for welcoming guests into complete darkness, now welcomes nocturnal nighthawks every Friday night from 10pm until 1am, and offers a unique opportunity to enjoy a silent dance floor with local and international DJs, paired with a chill-out in the pitch dark. The London venue introduced this unique concept after a successful run in their Barcelona branch. I www2.danslenoir.com
movingdesign becomes ADMEMORI movingdesign, the creative studio dedicated to motion design, is now ADMEMORI. The name change describes their raison d’être with much greater precision as memory is central to their business. They receive, convey and own their clients’ message, promoting and developing public spaces. Their strategic thinking is about making the images relate to their clients’ location: the way it’s used, the visitors or customers. I www.admemori.com
info
- july / august 2016 - 15
BUSINE S S WOR LD - S TART- UPS & SME S
GEFCO UK to work with Jaguar Land Rover GEFCO UK will have the role of moving Jaguar Land Rover products from the Halewood production site to dealers in central and southeast UK. This new business agreement ensures a synergy in existing operations, with GEFCO UK’s relationship with Jaguar Land Rover beginning in 2012, as well as a recent contract agreement in 2014 which saw GEFCO invest in a fleet of new transporters specifically tailored for the company’s needs. Jaguar Land Rover will now be able to benefit from the newly introduced GEFCO MAX; a delivery app which will allow customers to track deliveries in real time. I www.gefco.net
Edenred launches TechSave: a new salary sacrifice technology purchase theme Employee benefits provider Edenred has launched a new
for the scheme, a fully outsourced management and
salary sacrifice scheme which allows employers to offer
the opportunity to make savings on National Insurance
employees a way of reducing the cost of buying technology.
Contributions. Andy Philpott, Sales and Marketing Director at
Employees using the scheme will save up to 35% against
Edenred said: ‘TechSave is a fully inclusive benefit appealing
technology purchases compared to high street prices.
to all employees and a win-win for all: employees save
The scheme provides employers with a website and employee communications within one day of signing up
money, employers save money and it doesn’t cost a penny to implement.’ I www.edenred.co.uk
Six Pieds Trois Pouces opens in London Launched in 1980, with eight shops in Paris, Six Pieds Trois Pouces, the iconic children’s shoe store, has opened a boutique in London, South Kensington. Located at 28 Bute Street, SW7 3EX, the shop has been designed to make kids feel at home in a luxury environment. Mixing classic with bold, creative and timeless styles, the collection from Six Pieds Trois Pouces has a wide range of footwear for every day or special occasions, and caters for babies to teenagers (sizes 16 to 40). The shop also stocks a selection of the best international brands for children. I www.sixpiedstroispouces.com
Paddle8 merges with Auctionata Auctionata and Paddle8 have united to form the global online leader in art, collectibles and vintage luxury auctions. Together, they will build the online destination of choice for the 21stcentury collector by providing the most comprehensive experience for purchasing art and luxury items online. By joining forces, Paddle8 and Auctionata become one of the top 10 auction houses worldwide, with 800,000 registered users. I www.paddle8.com
London Languages partners with Paris school London Languages has recently joined forces with a Paris-based professional language school that shares its philosophy. The company has many years’ experience providing business language training to managers and employees working in finance, accountancy and marketing, and this partnership ensures that companies with offices in Paris or employees who travel often, have the convenience of language training in Paris. London Languages has also just launched a new website. I www.londonlanguages.com
16 - info - july / august 2016
BUSINE S S WOR LD - S TART- UPS & SME S
Merci Maman meets Académie du Service Last month synergies between members of the Chamber were created when Merci Maman, the online personalised jewellery brand, met Académie du Service, a consulting and training firm focused on services and people. They discussed the importance of Customer Service and how it is linked with a company’s consistent growth and employees’ engagement. ‘We believe that employees must share the brand’s values: being audacious, not afraid to step out of their comfort zone, sharing ideas, best practices and achievements, and learning from mistakes,’ says Béatrice de Montille, founder of Merci Maman. ‘We pride ourselves in having a customer satisfaction rate of 98%, thanks to our team’s engagement and passion for what they do.’ I www.mercimamanboutique.com www.academieduservice.com
Rival Colour works with Vision de Marques
Victanis Advisory Services supports acquisition of Sigma Components
Introduced by the French Chamber, Rival
Victanis Advisory Services, which specialises in strategic advice
Colour Ltd has helped Vision de Marques to
and transaction support in areas of aerospace, defence and
gain a foothold in the UK market thanks to
security, has recently completed the commercial due diligence
their local knowledge and contacts.
for Silverfleet Capital to support the fund’s investment process to
‘Vision de Marques are using their French
acquire Sigma Components from Avingtrans Plc. The transaction
factory to produce graphics which are
was completed in May 2016 with debt provided by HSBC and
shipped to us and our installers install them,
Santander. Victanis provided advice, informed analysis and expert
enabling Vision de Marques to service their
opinion across all phases of the transaction.
French clients’ UK sites by utilising local sub
Sigma Components is a world-class manufacturer of engine
contractors with the skills and competitive
pipes, tubes and fabrications for aerospace applications such
rates to keep the costs down for the client,’
as aircraft engines and airframes. Its products are supplied to
said Gary Smith, Account Director at Rival
leading aerospace manufacturers such as Rolls Royce, Airbus and
Colour. I
Bombardier as well as to Tier 1 sub-suppliers.
www.rivalcolour.com www.visiondemarques.com
David Mackenzie, Partner at Silverfleet Capital commented: ‘Victanis know their sectors inside and out, which enabled them, in a very short time frame, to deliver a comprehensive and structured piece of due diligence that made Sigma’s positioning, strategy and future prospects easy to understand. Their work was a highly valued part of our investment process, but will also now be a valuable resource for Sigma’s management as the company looks to exploit new opportunities in the future.’ I www.victanis.com
Citizen Press propels the French College of Physicians into video content marketing Editorial content agency, Citizen Press, has helped the College of Physicians to dust off its conventional image by including motion design video in their communication strategy. ‘It was decided that it was time to rejuvenate and re-energise its image in order to better cater to the needs of a new generation of doctors,’ said Sarah Berrier, Citizen Press’ editor-in-chief. This new tool has managed to rouse doctors’ interest and helped to attract a wider audience to the two webzines they produce each year. According to a recent readership survey, 18% of medical advisers are using the webzine and watching the motion design video daily. I www.citizen-press.fr
info
- july / august 2016 - 17
BUSINE S S WOR LD - S TART- UPS & SME S
Fintech TRAMONEX on its £250K government grant Amine Berraoui & Marc Avedissian, Co-founders of Tramonex
Tramonex has received a £250,000 grant from Innovate UK to develop a cross-border blockchain tool. INFO asked its co-founders about it Can you explain what blockchain technology is and the idea
payments and foreign exchange business. We are also building
behind developing this prototype?
partnerships with companies around the world who have an
Blockchain technology is a tool for securing historical data by
interest in applying the technology.
digitally tracking the transaction of assets using a branch of
We would like to believe that successfully doing this through
mathematics called ‘cryptography’. It is distributed over a peer-
the private sector will convince central banks to adopt nationally
to-peer network instantaneously which means you can use it
backed digital currencies.
over the Internet or over a local network depending on your use case.
How will the grant be used?
To elaborate, it is the Internet equivalent of writing
To cover research and development costs –basically to
something in stone – hence why the blockchain is sometimes
pay for skills. It is actually a matching grant, so we also have
referred to as a truth ledger. Once an exchange has been
private investors contributing matching funds. We have agreed
made it is irreversible and cannot be retracted, altered or
deliverables and milestones with Innovate UK.
go missing. This has huge implications on transparency in the industry removing the need for third party verification to
How long do you have to develop it?
ensure the security of your money. Moreover, in addition to
The grant period ends mid-2017. Certain components might
reducing the cost of transacting, it dramatically speeds up the
help accelerate the process of bringing it to market before then.
settlement process (from 2-5 days to under 1 minute for foreign exchange settlement for example) and is accessible from
When it is completed, will you own the product and be able
anywhere with an Internet connection. Essentially, blockchain
to license it out?
technology addresses the complexity companies are facing in
The short answer is ‘yes’. Some aspects of it will be open sourced
managing data and security. Such a ‘fool proof’ system was not
while in other areas, we will seek to protect the Intellectual
possible prior to the emergence of blockchain and so we are
Property. This is one of the benefits of the grant funding model
now finding a growing number of companies across industries
as it gives entrepreneurs the freedom to develop products
experimenting with the technology.
and build businesses without the worry of share dilution and
What makes our project unique is the fact that we have
managing shareholder expectations.
been backed by Innovate UK, the UK government’s innovation agency, to develop a prototype to facilitate foreign exchange
How did the whole process work of getting this grant from
conversion and settlement services using blockchain technology
Innovate UK?
in a regulated environment. As a regulated financial institution
The Innovate UK grant application process is transparent.
we are committed to working closely with the Financial Conduct
Obviously it requires some amount of paperwork including
Authority, the UK’s financial regulatory body on a regular basis
submitting a proposal, a business plan, an exploitation plan and
throughout the development of our prototype. This is key in
a project plan. These are various artefacts that every business
order to ensure any real application.
needs in order to succeed, so the incremental paperwork is quite reasonable. Once the application is submitted, there is
What are your ambitions for this prototype? How do you
an evaluation stage in which certain projects are selected by
foresee it being used?
a committee to receive funding. The process is similar to any
We plan to use it internally at Tramonex for our international
competition for a grant or industry award. I Interview by KF
Blockchain technology ... is the Internet equivalent of writing something in stone... [It] addresses the complexity companies are facing in managing data and security 18 - info - july / august 2016
BUSINE S S WOR LD - S TART- UPS & SME S
MICROSOFT ACCELERATOR London The global technology company is deploying a grassroots approach to helping promising scale-ups and match-making them with corporates
T
he UK is home to over 100 accelerators. It’s a competitive space, where more established start-ups with minimum viable products (MVPs), vie for funding and launch their
marketing. Microsoft Accelerator London (MAL) is a bit different. Eschewing the volume-driven, equity-taking norm, it has instead positioned itself as a scale-up enabler and innovation matchmaker, picking the best, working with them to ensure their technology is viable and scalable, then matching scale-ups with corporates. It is a two-pronged approach. On the one hand, Microsoft has big corporations approaching it for help in the innovation process. On the other hand, MAL selects and works with scale-ups that may have the solutions for those needs. And then it brings them together. It all starts with an Innovation Day, as Kevin Monserrat, Marketing Manager of MAL, explains: ‘We bring together around 20 big corporations – including retailers, banks and market places – and brainstorm with them about what they are striving for, how
Demo day where MAL start-ups pitch to corporates
they want to innovate, and what their pain points are. We then have their issues and needs in mind when recruiting the next
building one of the largest start-up databases at a global level,’
cohort of scale-ups for our programme.’
Kevin adds. Over 12,500 scale-ups apply for Microsoft’s accelerator
MAL runs two four-month programmes a year, picking only 10
programmes around the world* every year and these are tracked
to 12 scale-ups out of 250 applicants in each cohort. These are
over time, allowing Microsoft to analyse their growth curve, learn
later-stage companies that have already raised funds from third
from their reactions and see how they evolve.
parties. Unlike most accelerators, MAL doesn’t take an equity stake
MAL also knows that big corporations will only work with scale-
in these companies; instead it brings in the founders and with them,
ups and adopt new technology if it is sound, integrates with their
look into the viability and scalability of their technology, because, as
enterprise platforms and is globally scalable. ‘They come to us
...big corporations will only work with start-ups and adopt new technology if it is sound, integrates with their enterprise platforms and is globally scalable Kevin points out, ‘no business is sustainable unless it has reached
because they know we would have done our due diligence. We
that point.’ In this way, Microsoft, as a global technology company,
give some sense of guarantee,’ Kevin observes. But it is a long
has an advantage. ‘Every business we work with has challenges
dating game, and many entrepreneurs fail because they have
with their technology, go-to-market strategy or international
not factored in the 9-18 month time frame needed to sell to big
scaling. But this is where we are different and stand out from the
corporations, which means their businesses flounder from lack of
competition. Other accelerators have funds; market, industry and
cash flow. MAL helps its scale-ups avoid this by creating a business
business development knowledge, but often outsource tech clinics
development pipeline, showcasing via a Demo day, and curating
to third parties. We do that ourselves and can dig into the scale-
Customer Access events where its corporate clients can meet
ups’ technology and help make it viable.’
innovative early stage companies. ‘They don’t always team up, but
Along with this support, comes around $500,000 worth
they are listening carefully,’ Kevin says.
of Microsoft technology, licences and software, although the
MAL’s success rate is very high: 87% of its scale-ups are still in
businesses are not obliged to use it. ‘We are very agnostic in
business after three years, compared to the accelerator average
terms of technology,’ Kevin observes. ‘We work to support the
of 60%, and 92% of them get funding – £4.9 million within one
ecosystem not to promote Microsoft as such.’ This ecosystem
year on average. And with 500 graduated companies in its
approach creates what Kevin calls a natural win-win situation. Although Microsoft makes no money out of its accelerators,
alumni worldwide, which have raised $1.9bn in total, Microsoft Accelerators are certainly on to a winner. I KF
it sees them as part of a very long-term strategy to develop the
Corporates or scale-ups interested in being involved should contact
ecosystem, get data insights on scale-ups and gain some traction
Kevin Monserrat on +44 7 773 043 147
for its sustainable and Microsoft-endorsed technology. ‘We are
www.microsoftaccelerator.com/locations/london
*There are Microsoft Accelerators in Seattle, London, Paris, Berlin, Tel Aviv, Bangalore and Beijing. info
- july / august 2016 - 19
BUSINE S S WOR LD - S TART- UP S TORY
PeopleDoc JONATHAN BENHAMOU, Founder and CEO INFO asks the HEC graduate how an idea at business school turned into an international company with an innovative HR solution, used by clients such as Airbus, HSBC and American Express What gave you the idea for PeopleDoc, and how did it all start?
we are also selling to SMEs with 250 employees upwards.
It all started with an idea that Clément Buyse and I had when we were at HEC Business School, which was to revolutionise the
In 2014 you were named a Gartner Cool Vendor. What does
post service by creating a new way to receive mail. We wanted to
that signify?
create a website where consumers could receive, store and share
It means that we have a unique solution that no one else has. It’s
administrative documents securely in a personal digital vault. But
an important recognition for us to be credible in the market, and
we soon realised that although it was a good idea on paper, it was
signifies we have a great product.
hard to execute because we could not convince large companies to entrust their client relationships to us as a small start-up. But
You now work with over 500 customers including Airbus,
two years later, in 2009, we pivoted into the HR space when an
Starbucks, American Express and HSBC, with over 2 million
HR head of a large company told us that in France, pay slips could
users worldwide. How did you expand beyond France and
not be sent to employees electronically, and we realised we could
what are your ambitions?
create a solution for this. So we created a paperless post service
It was part of our strategy and also opportunistic. We wanted to
for the HR department, and PeopleDoc was born.
be very strong in our own market but were also thinking about globalisation. In 2014, I made the decision to move to New York as
How has your solution been innovative?
the CEO to open our US office. With the US market being 17 times
As we began to understand the HR market, we realised that it
larger than France and 10 times larger than the UK or Germany,
was changing. HR departments started to buy Cloud solutions,
we realised that to be a global leader we would have to be in the
but vertical ones for every aspect so that the HR department
US. This year we have opened offices in the UK, Germany and
of a company with 10,000 employees might end up with 10-
Canada. In the UK, PeopleDoc has great ambitions. We are looking
15 different solutions. We came up with one HR employee file
for our first customers and hope to have five or six by year end,
solution called PeopleDoc Enterprise that collated all the right
and ultimately become leader in the HR service delivery market. I
information and employee documentation in one place, allowing
Interview by KF
companies to connect all their systems and giving access to whoever needs it. We also came up with an electronic signature solution to help companies sign contracts and other documents, and later launched a case and HR process management product which digitalises all communication between HR and employee. What we provide today is an interaction centre, where you can communicate, manage documents and the HR administration process, designed with the employee experience in mind and freeing up HR for more valuable direct management. In effect, we have disrupted the shared service model. Is your platform specifically designed for larger companies? Our sweet spot is companies of more than 2,500 employees, but 20 - info - july / august 2016
• Employees worldwide: 140 • Locations: France, UK, Germany, US, Canada • Customers worldwide: over 400 • Backed by Eurazeo and Accel Partners PeopleDoc empowers employees to quickly and easily access relevant HR information, and enables HR to get more done with fewer resources. The cloud-based HR Service Delivery platform is the only comprehensive suite that can automate processes in all stages of the employee lifecycle, from hire to retire. Full integration with HRIS systems, combined with a SaaS delivery model, provides a seamless solution without disrupting processes or impacting IT resources. www.people-doc.co.uk contact.uk@people-doc.com
BUSINE S S WOR LD - R E PORT S & R E SE ARCH
This is a selection of research papers and reports on a variety of topics produced by Chamber member companies
EY UK Attractiveness survey 2016 – A record year for the UK The UK gave an outstanding performance attracting Foreign Direct Investment in 2015, bringing in a record 1,065 FDI projects and creating over 42,000 jobs, the most in any year since the attractiveness programme’s launch in 1997. This 20% growth in projects achieved in a European market that grew 14% means the UK increased its market share from 19.9% to 20.9%, confirming it as Europe’s clear FDI leader. The UK also made progress in several other important areas: • 172% increase in key strategic investments – such as headquarters – giving the UK a 53% share of the European market. R&D project numbers increased 37% in 2015 • Manufacturing continues to do well, with the UK attracting more manufacturing FDI projects than Germany for the second year running • Good balance across the sectors, with financial and business services posting healthy growth. UK Attractiveness survey 2016 – May 2016 Available at: http://www.ey.com/UK/en/Issues/Businessenvironment/ey-attractiveness-survey-2016-uk
Sopra Steria’s Government Digital Trends Survey highlights successes and challenges in implementing digital transformation Now in its second year, this research by Sopra Steria in conjunction with Dods examines the progress that the civil service has made in implementing digital transformation, identifying areas of success and the challenges yet to be overcome. Gathering feedback from over 1,200 civil servants, the responses highlighted their stronger understanding of digital transformation, but also concerns around measurement and a lack of digital training for staff. The idea of digital transformation is firmly embedded in the conscience of the Whitehall workforce. For the second consecutive year, three quarters of civil servants say digital transformation has impacted their work, and 33% say digital transformation is a big part of what they do. However, this year, civil servants showed that they had a much richer view of what digital transformation can achieve. The understanding that digital technology can be a tool to spark organisational change – rather than merely making existing structures more efficient – is now widespread. Government Digital Trends Survey 2016 – May 2016 Available at: http://www.civilserviceworld.com/whitepaper/sopra-steria-government-digital-trendssurvey-2016
Eptica Email beats web for insurance customer service Eptica evaluated 10 leading UK insurers on their ability to provide answers to 10 routine questions as well as their speed and accuracy when responding to email, Twitter, Facebook and Chat, repeating a research carried out since 2011, and aiming to mimic the behaviour of ordinary consumers across digital channels. ‘Insurance is in the midst of a transformation as the internet and digital channels radically change how consumers engage with insurers,’ said Derek Lewis, UK & Ireland Sales Director, Eptica. ‘To drive loyalty, insurers need to be able to have meaningful conversations with individuals, on their channel of choice. The 2016 Eptica Multichannel Customer Experience Study found that insurers are still struggling to adapt – performing well on email, but answering less than half of all questions asked online and via social media.’ The Eptica Study also evaluated businesses in nine other sectors. 2016 Insurance Multichannel Customer Experience Study – April 2016 Available at: http://www.eptica.com/ins2016 info / april 2016 info -- march july / august
- 21
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internationalsos.com
BUSINE S S WOR LD - CHAR IT Y NE WS
CELEBRATING
E
25YEARS OF EMMAUS IN THE UK
mmaus UK’s Royal Patron, Her Royal Highness the Duchess of Cornwall, joined supporters, companions and staff at an
event to celebrate the 25th anniversary of Emmaus in the UK. Hosted by the French Ambassador to the UK, HE Ms Sylvie Bermann, at her London residence, the event celebrated what Emmaus has achieved in its first 25 years in the UK, while also looking to the future. In a speech, the Duchess of Cornwall spoke of the ongoing challenge of homelessness: ‘Emmaus UK’s work today is more important than ever. It is quite horrifying to read that the number of people sleeping rough has increased by 30% in the last year. And it’s hard to imagine that in England tonight, more than 3,500 men, women and youngsters will be sleeping on the streets.’ Selwyn Image, founder of Emmaus UK, also spoke at the
HRH The Duchess of Cornwall with Selwyn Image, Founder of Emmaus UK
event, explaining why he was compelled to bring Emmaus to the UK in 1991: ‘Emmaus UK started because I couldn’t get out
more likely they will be able to find a long-term route out of
of it. Challenged by a homeless man who told me he wanted
homelessness.
meaningful work, a supportive environment and, the clincher
Ahead of cutting the giant birthday cake, prepared especially
for me, the chance to recover his self-respect, he then followed
for the event, Selwyn Image explained that Emmaus’s work is
on by asking me what I was going to do about it, and put my own
far from over. Referring to Abbé Pierre, who founded Emmaus
self-respect on the line.’
in France in 1949 and led the growth of Emmaus into a huge
Selwyn had encountered Emmaus when he was a student in
national and international movement, with a community in
the 1960s. He volunteered at a community in France in order to
every major French conurbation, he said: ‘Our long term aim
improve his French. In her speech, Ambassador Sylvie Bermann
here is to do the same. This will mean around 100 communities,
paid tribute to Selwyn for bringing Emmaus to the UK.
so there is much still to strive for. I hear Abbé Pierre reminding
Since it was established in 1991, Emmaus has grown from one community in Cambridge to 28 communities across the
us gently to get on with it. ‘N’oubliez pas les autres, mes amis’. Au boulot! On with the next 28’.
UK, supporting more than 700 formerly homeless people.
To support the growth of Emmaus in the UK, a special
Companions, as residents are known, are provided with a home
anniversary appeal has been launched, aiming to add another
for as long as they need it, as well as meaningful work in a social
250 rooms to Emmaus communities all over the UK. A gift of:
enterprise. This combination of home and work makes it much
£250 could buy a bed for a new companion room £2,500 could pay for the full fit out of a new companion room
It is quite horrifying to read that the number of people sleeping rough has increased by 30% in the last year. And it’s hard to imagine that in England tonight, more than 3,500 men, women and youngsters will be sleeping on the streets
£25,000 could pay to extend an existing community, providing extra rooms £250,000 could pay for a building for a new community home. To help, please contact Helen Brandley at Emmaus UK T. 0300 303 7555 • hbrandley@emmaus.org.uk Emmaus UK is a registered charity, number 1064470, Limited company number 3422341, registered in England and Wales
CHILDREN OF THE MEKONG Children of the Mekong, the UK arm of the French charity, is launching a campaign to engage companies and their employees with their mission to provide education to ©Antoine Besson
the poorest children in Southeast Asia. Tailor-made programmes, including project funding, student sponsorships, skills transfer initiatives and sports challenges, are developed hand in hand with participants and help create positive change while providing purpose and measurable impact on sustainable development. www.childrenofthemekong.org
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- july / august 2016 - 23
E DUC ATION - NE WS
Université Paris - Dauphine London campus expands student intake in 2016 With strong and growing interest from international and French Lycées all over the world, as well as from France, Université Paris - Dauphine will take in more than 120 bachelor students by September 2016. The university will also significantly extend its scholarship programme for the year 2016-2017. Université Paris - Dauphine was the first French university to launch a Global Bachelor’s programme in London, opening its doors to 25 first year Bachelor’s students in Economics and Management in 2014. The programme was extended to second year Bachelor’s students in 2015. The London curriculum is similar to Dauphine Paris Bachelor’s programme, but classes are exclusively taught in English, primarily by senior lecturers from British universities. Dauphine has a cooperation agreement with UCL, giving students access to UCL societies, sporting and language-training activities. I www.dauphine.fr
38% of Sciences Po Paris graduates start their career outside France The results of the recent Sciences Po survey on employment of
in French public administration and 8% in international and
young graduates revealed that among the respondents, 75%
European organisations and NGOs.
had decided to enter professional
The average annual salary of a
life while 25% opted to carry on
Sciences Po graduate is €37,266,
studying or prepare for exams
which is €3,160 more than the
to enter the French, European or
average salary of other French
international public administration.
selective universities (CGE survey,
Amongst
graduates
2016). Nevertheless the gender pay
currently working, more than 85%
gap persists: the average annual
found their first job within less
salary for a woman is €34k compared
than six months after graduation;
to €41k for a man. Students from a
38% work outside France. 73%
poorer social background (recipients
work
in
the
the
private
sector:
of means-tested bursaries during
mainly in consulting and auditing, banking and insurance,
their studies) earn on average 9% less than others. I
communications and marketing, or legal positions. 18% work
www.sciencespo.fr
EISTI offering two Masters programmes in English for 2016 EISTI, an engineering school with two tracks in Computer Science and Applied Mathematics, located near Paris, offers 11 specialisations in the engineering curriculum taught in French and two master’s programmes entirely taught in English: Big Data and Quantitative Finance & Risk Management. These Master’s courses are still recruiting students for September 2016. EISTI scholarships are available for high profile students. I www.eisti.fr 24 - info - july / august 2016
E DUC ATION - NE WS
French Education Charitable Trust initiates new bilingual free school project in London The French Education Charitable Trust (FECT) is proposing to open a bilingual free school in Newham, East London to provide an outstanding education for pupils wishing to develop language skills in English and French integrated with a traditional British education, studying the English curriculum. Free schools do not have fees and are funded by the Department for Education and monitored by Ofsted. An application to the Department for Education will be submitted in September. Meanwhile, market research and curriculum design are in progress with a view to opening the school in 2017. FECT has been in discussion with NewVIc - Newham Sixth Form College about the possibility of sharing its site with the proposed new bilingual free school. NewVIc would be able to help provide a wide range of post-16 options for students. Turenne Consulting, a UK-based consultancy practice and Chamber member, is advising the FECT on the project. The French Embassy supports the school project as it is in line with its policy of developing bilingual French/English sections in the British education system in addition to existing French schools. I www.turenne.co.uk A public meeting will be held on 18 July at NewVIc - Newham Sixth Form College, London E13 8SG, between 4 and 8pm, so that interested parties can drop in to ask the free school project management team any questions. www.eastlondonbilingualschool.org
ESCP Europe running new Megatrends Workshops ‘As the business landscape reforms itself quickly, CEOs have to
Enterprising dynamics, publishing an article in the Harvard
make correct decisions within a much shorter timeframe. [...]
Business Review. By paying closer attention to them, individuals,
One way to deal with this, is to gain intelligence and insights
companies and governments could have a better understanding
into how the future lies.’ So said the CEO of a global company to
of what is in store for them, take advantage of change, and see
ESCP Europe Professor, Terence Tse, and his academic partner,
a greater impact from their decisions. Their work is now being
Mark Esposito, in an interview on a new idea they were working
used in a very practical way, through workshops for executives
on: ‘Megatrends’.
and managers across organisations.
Through consultations with CEOs and directors of major
Professor Tse led a Megatrends workshop recently for
organisations, they found that organisations are uncertain
human resources leaders from international organisations,
about key questions on: how companies should respond to big
including the European Central Bank, Johnson Matthey, and
changes; the business opportunities that can be developed for
Bouygues at ESCP Europe’s campus in north London.
the future; and the right people strategies for the workplace
Work on the subject is ongoing. London Stock Exchange
of tomorrow. This led them to develop the DRIVE model of
CEO Xavier Rolet and Professor Tse are currently working on a
five Megatrends: Demographic and social changes; Resource
joint research paper on Megatrends and will run a Megatrends
scarcity; Inequalities; Volatility, scale and complexity; and
workshop at the LSE in September 2016. I www.escpeurope.eu
INSEEC Spirits programme visits Scotland In March, 23 students from the INSEEC Wine and Spirits programme headed to Scotland to visit several major single malt distilleries. Visits included tastings at Glenfarclas, Glenfiddich and Glendronach distilleries as well as a fascinating tour of a cooperage factory. The INSEEC Wine and Spirits programme is a one-year Master’s level course that includes a semester of study of the wine industry in Bordeaux followed by an intensive ‘spirits’ semester in London with a range of courses taught by specialists from the industry. I www.groupeinseec-london.co.uk www.wine-institute.com
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- july / august 2016 - 25
focus
ARE YOU READY TO JOIN
THE CIRCULAR ECONOMY ? C
ould circular be the new green? It’s not mainstream yet, but the concept of the circular economy, which turns the traditional ‘take-make-dispose’ linear model into a restorative, regenerative one, is gaining traction. It makes sense: resources are not limitless and our planet cannot absorb our prodigious waste. But turning the ship around is not going to be easy or quick: it is a process, and it is going to require a change in mindset, a revolution in business models, and some bold, brave policy decisions. In this Focus, we start with Dame Ellen MacArthur, the British sailor who became the fastest person to circumnavigate the globe single-handed in 2004, and whose experience of relying on a finite supply of resources on board led her to establish the Ellen MacArthur Foundation with the goal of accelerating the transition to the circular economy. Who better than her to explain what it is all about and to answer some of the tricky questions that it throws up? Government is also starting to get behind the idea, with the EU Commission recently adopting a Circular Economy package ‘to stimulate Europe’s transition towards a circular economy which will boost competitiveness, foster sustainable economic growth and generate new jobs’. The figures are certainly impressive: by 2030, a circular economy in Europe could create a net benefit of €1.8 trillion, an 11% increase in GDP, a halving of carbon dioxide emissions and a 32% drop in primary material consumption. Articles consider the best policy mixes to achieve this, as well as address the social dilemma posed by the circular economy. Moving from a macro level to the nitty-gritty of business, we consider the paradigm shift that is needed in terms of business strategies and approaches. A few large companies have begun making efforts to incorporate circular economy principles in their businesses practices – among them Veolia, Schneider Electric, Renault and VINCI – and there is also a wave of start-ups and SMEs that have seized the opportunities offered by this new industrial revolution, coming up with circular solutions, services or technologies, or adapting their own business models. It won’t happen overnight, and it won’t be down to one or two enlightened companies or countries, but the process has started. Let’s give it momentum! I KF
26 - info - july / august 2016
The circular economy opportunity Today’s linear economy - in which resources are extracted, made into products, sold and ultimately thrown away - arguably faces its biggest challenges, on a number of fronts. Dame Ellen MacArthur sets out a range of global trends suggest that the future economy could be circular, with opportunity awaiting those progressive enough to make an early shift
I
n a context of cheap and accessible energy and materials, the
properly and when they’re about to go wrong. This makes
linear model inherited from the Industrial Revolution proved
product recovery feasible, and opens up new customer service
hugely successful and fuelled the unprecedented economic
or aftermarket opportunities.
development seen throughout the 20th century. With new
Global trends are providing a fertile environment for a shift
discoveries, increased efficiency and new technologies of the
in the economy. In addition to being a new lens for innovation,
1900s, commodity prices steadily declined over the course of
increasing circularity could offer a significant economic advantage
the century. However, the rising volatility of commodity prices –
too. Launched in June 2015 at the European Commission’s
a feature of today’s business landscape – generates an inability
stakeholder conference on the circular economy, our report
to predict resource and energy prices. This can be devastating
Growth Within: A Circular Economy Vision for a Competitive
to companies with high fixed costs, who rely on economies of
Europe,1 produced with the McKinsey Center for Business and
scale. In that context, gradual efficiency gains will not suffice, and
Environment and supported by SUN2 reveals that by adopting
it looks at though ‘business as usual’ is seriously questioned by
circular economy principles, Europe can take advantage of the
the reality in which it operates.
impending technology revolution to create a net benefit of
It would seem that the ‘rules of the game’ for our economy are
€1.8 trillion by 2030, or twice the benefits seen on the current
changing, and business leaders, innovators, academics, students
development path (€0.9 trillion). This would be accompanied
and scientists are looking for a positive way out; a new model
by better societal outcomes including an increase of €3,000 in
through which we can re-think progress in the 21st century.
income for EU households. This would further translate into an
One option is the circular economy, a model that has been
11% GDP increase by 2030 versus today, compared with 4% in
gaining traction around the world in recent years. Such a system
the current development path. The circular economy would also
A circular model generates new revenue streams, reveals overcapacity and maximises asset utilisation is regenerative by design, and primarily relies on optimising two
have significant impacts on the environment for Europe: carbon
distinct material flows – biological and technical. Products and
dioxide emissions would halve by 2030, relative to today’s
services in this model are designed to enable efficient circulation,
levels (48% by 2030 across the three basic needs studied, or
with biological materials returning to the food and farming
83% by 2050). Primary material consumption, measured by car
system, and technical materials being kept in production and
and construction materials, real estate land, synthetic fertiliser,
use loops without loss of quality. A circular model generates
pesticides, agricultural water use, fuels, and non-renewable
new revenue streams, reveals overcapacity and maximises asset
electricity could drop 32% by 2030 and 53% by 2050, compared
utilisation whilst ensuring that, as leading Performance Economy
with today.
thinker Walter Stahel puts it, the ‘goods of today become the resources of tomorrow, at yesterday’s prices’.
In a world of uncertainty, many are asking what the future economy will look like in the context of population growth and
Technological advances are facilitating new business models
resource constraints. Our research and analysis tend to indicate
that maximise asset use – finding and booking the nearest
that a circular economy framework could offer guiding principles
communal car or bike has only been made convenient with
for re-thinking and redesigning our futures. There are promising
smartphones and mobile networking. Product tagging and
signs of a shift taking place, but reaching this goal will require
tracking and the growing ‘Internet of Things’ are also enabling
pioneering ambition, combined with varied collaboration to
manufacturers or service providers to keep an eye on their
deliver the benefits of a system that rebuilds economic, social
products; how much they’re being used, if they’re performing
and natural capital. I
1. www.ellenmacarthurfoundation.org/publications/growth-within-a-circular-economy-vision-for-a-competitive-europe 2. Stiftungsfonds für Umweltökonomie und Nachhaltigkeit (Foundation for Environmental Economics and Sustainability) was established in 2014 by the Deutsche Post Foundation in Bonn, Germany. SUN supports institutions, programmes and projects dealing with the challenges and opportunities of environmental protection and sustainable development.
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- july / august 2016 - 27
DAME ELLEN MACARTHUR Founder of the Ellen MacArthur Foundation
What gave you the idea to set up the Ellen MacArthur Foundation? Realising the true meaning of the word ‘finite’ was a defining moment for me. Sailing around the world against the clock in 2004, I had with me the absolute minimum of resources in order to be as light, hence as fast, as possible. At sea, what you have is all you have, stopping en route to restock is not an option and careful resource management can be a matter of life or death – running out of energy to power the autopilot means you can be upside down in seconds. My boat was my world, I was constantly aware of its supply limits and when I stepped back ashore, I began to see that our world was not any different. I started to research issues around energy and materials, which eventually led me to set up the Foundation in 2010, with the aim to accelerate the transition to a circular, regenerative economy. What is your goal? In a few words, it’s to transition to an economic system that works in the long term, to move from an extractive to a capitalbuilding model; one that relies on innovation and creativity, that maintains value and designs out negative externalities. The Foundation has come up with a strong economic rationale for the circular economy, but how do you convince businesses and sectors locked into a performance-driven linear economy to revolutionise their models and practices? As you point out, the economic rationale is strong, and that is what generates the interest that we see growing among the global business community. There are several disruptive trends currently transforming the economic landscape, and finding innovative ways to adapt to the new context is key for companies who are willing to take a first mover advantage. As our research points out, the digital revolution will generate interesting benefits, but if it is guided by circular economy principles – maximising asset utilisation, adopting optimised 28 - info - july / august 2016
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
materials management processes, etc. – these benefits can
transformation of our economy. Guiding this wave of change
be doubled. This is one of the key conclusions of our Growth
by applying circular economy principles could create value,
Within1 study, which looks at the sectors of mobility, built
and generate wider benefits for society, ushering in a new
environment and food in the European context.
era of growth and development, increasingly decoupled from resource constraints.
What are the greatest challenges in changing from a linear to a circular economy? Surely unless the whole system is
While digital is an enabler of the circular economy, the
circular, it won’t work at all?
hardware side and increasing energy use surely work
We indeed recognise the systemic nature of the shift, the fact
against it. How can this be reconciled?
that it should be seen as a cross-value chain effort. This is why
It is actually not that obvious, since in the B2B sector and
we created, together with the World Economic Forum and
for big servers, practices such as remanufacturing and re-
McKinsey, Project MainStream, from which the New Plastics
purposing are already well established. Performance-based
Economy report2 and initiative directly stem. MainStream, a
models, selling the service rather than the product itself, are
CEO-led platform, is unique because it brings together actors
quite commonplace in the digital world and increasingly we
from across the chain to address leakages and bottlenecks
see the big players that operate data centres move towards
such as lack of information, fragmented innovation or simple
more renewable energy.
lack of dialogue mechanisms. Individual companies can make progress towards more circular practices, but collaboration is a key component when it comes to truly transforming the system. Will the price of resources determine the shift – or not – to a circular economy? Things do change fast, and the big commodity prices hike that we saw between 2000 and 2012 has somewhat taken a back seat. Yet, it triggered the first surge of interest for the circular economy framework, and that has paved the way
... it’s to transition to an economic system that works in the long term, to move from an extractive to a capital-building model; one that relies on innovation and creativity, that maintains value and designs out negative externalities
for a larger scale transformation. And even though prices may be lower today, volatility is still very much a subject of
The circular economy requires a regenerative design
concern... plus analysts tend to agree that a short-term slump
from the outset, so how would it deal with obsolescent
does not actually change much when it comes to the long-
products and components already in the system?
term trend being an upwards one. After all, we are dealing
There are legacy materials, products and components that
with finite stocks of fossil energy and raw materials, and with
will have to be dealt with in the best way possible, but we
increased levels of consumption, things can logically only go
know that in most cases, given their linear nature, this will be
one way. Another factor that needs to be considered is the fact
suboptimal. Having said that, the technologies and processes
that regardless of how cheap resources are, the cost of the
developed for the recovery of materials evolve fast, and even
externalities linked to their extraction and use is increasingly
for linear products we see new solutions emerge rapidly. It’s
being considered: for example, during our research for
clear in the field of electronic products, where the sheer value
the New Plastics Economy report, we found that the United
of materials is an incentive to boost research – but of course,
Nations Environment Programme conservatively values the
design for disassembly and upgrade remain clear priorities
negative impacts of plastic packaging at $40 billion... This will
for a circular economy going forward. It is a transition we
be considered more and more by investors and regulators, so
have embarked on, so as such dealing with the consequences
finding ways to generate positive impacts rather than simply
and by-products of the linear model is required: things won’t
minimising the bad ones is becoming a real argument for
happen overnight, it’s all about keeping a clear vision of the
corporates. Finally, digital technologies are driving a profound
objective. I Interview by KF
1. Growth Within: A circular economy vision for a competitive Europe www.ellenmacarthurfoundation.org/publications/growth-within-a-circular-economy-vision-for-a-competitive-europe 2. The New Plastics Economy: Rethinking the future of plastics www.ellenmacarthurfoundation.org/news/new-plastics-economy-report-offers-blueprint-to-design-a-circular-future-for-plastics
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- july / august 2016 - 29
What would be the IMPACT of a resource efficient and CIRCULAR ECONOMY ? Dr Teresa Domenech, Co-founder of UCL Circular Economy Lab and Research Associate at the Institute for Sustainable Resources (University College London), presents research she was involved with that shows the impact on jobs and growth of different scenarios of circular ambition in Europe
T
he concepts of resource efficiency and the Circular
levels), water stress and consumption of resources will increase
Economy have attracted increasing attention in recent
dramatically. In this scenario, Europe would experience declined
years. Businesses and politicians have looked at alternative
but still positive GDP growth rates, but also a loss of more than
models of production and consumption of resources that are
30 million jobs.
compatible with the preservation of natural systems in the long
In contrast, a global cooperation scenario would contribute
run. However, still many questions remain unanswered: what
to achieving environmental targets while positively impacting on
policies could drive resource efficiency and the circular economy
GDP growth and jobs. This is achieved through a combination
and, also importantly, what would be the socio-economic impacts
of economic instruments and regulation (see Box 2). In this
of those policies?
scenario, CO2 emissions peak in 2020 and then decrease to
The EU-funded project on Policy Mixes for a Resource
2050 (by 2050 they are 11% lower compared to 1990 levels).
Efficient Economy (POLFREE) sought to answer these questions
Resource consumption also declines significantly by 13 Gt by
by providing a complex analysis of the requirements of a policy
2050 compared to 2010 levels, despite population increasing.
mix that would simultaneously achieve environmental targets of a
Global GDP is also consistently higher than in the BAU scenario
climate and a resource policy and its impacts on jobs and growth.
(by 2050: +5.2%) and even better for Europe (by 2050: +8.2%).
The modelling exercise combined two economic-environmental
If global cooperation cannot be achieved, substantial benefits
models, based on Environmentally Extended Global Multi
remain if Europe acts unilaterally to increase resource efficiency
Regional Input-Output models with a bio-physical model. Three
and circularity. In this scenario, although Europe meets its
distinct resource efficient, circular, low-carbon scenarios were
environmental targets, global emissions remain on a trajectory
assessed against a business-as-usual scenario (see Box 1).
of a 4°C warming as non-European countries only pursue
The main conclusion from the modelling exercise is that
moderate climate policy objectives. In this scenario Europe takes
the business-as-usual (BAU) scenario provides a gloomy picture
advantage of the first-mover and GDP growth is even stronger
for the global environment but also for prosperity. While CO2
compare to the BAU (12.5% higher by 2050 compared to BAU),
emissions will more than double to 2050 (compared to 1990
whilst employment increases by 3.5 million jobs. The policy mix
POLFREE SCENARIOS AT A GLANCE
1
1. Global cooperation – all countries co-operate through international agreements and harmonised economic and regulatory policy instruments to pursue decarbonisation and a resource-efficient global economy. 2. EU goes ahead – the EU pursues the development of a low-carbon, resource-efficient economy unilaterally, through strong EU-level economic and regulatory policy instruments instituted by Member States. The rest of the world fails to increase existing ambition. 3. Civil society leads – Civil society, NGOs and businesses drive resource-efficiency and decarbonisation through voluntary changes in preferences and behaviour. Policies are introduced to facilitate such changes. 4. Business-as-usual – An increasing focus or ambition surrounding decarbonisation of resource efficiency in both EU and non-EU countries fails to materialise. This allows a comparative case against which conclusions surrounding the above scenarios may be drawn.
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FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
2
THE POLICY MIX (MAIN INSTRUMENTS) Climate policy focuses on the inputs of fossil fuels and has four pillars: • An upstream carbon tax for all industries • A regulation of the share of renewables in electricity production • A set of regulations and economic instruments favouring e-mobility • Subsidies for investment in the energy efficiency of buildings. Decoupling of economic development and the use of ores and non-metallic minerals is targeted by: • The regulation for recycling of ores and non-metallic minerals
• An upstream tax on ores and non-metallic minerals • A public innovation fund for the material efficiency. Sustainable agricultural land and water use is targeted by: • A regulation for water abstraction of agriculture • An information program to avoid food waste • A tax on meat consumption • An information program to reduce the yield gap in agriculture. Additional tax revenues are used for a reduction of taxes on goods and services with low carbon and resource contents.
under this scenario is similar to that of Global cooperation, with
is close to zero by 2050. The scenario embraces ‘beyond GDP’
some adjustment to the design of taxation instruments that
values, where different measures of progress are used. The
avoid problems of international competitiveness.
impact on jobs is positive (with 9% increase in the number of jobs
The modelling also shows that resource efficiency can be
by 2050). I
achieved through a post-consumerism movement led by civil society. This scenario assumes a decentralised, civil society-led
More detailed information of the findings of the project can be
change that leads to structural changes in the economy. In this
found at www.polfree.eu or by contacting the author
scenario environmental targets are met, though GDP growth
(t.domenech@ucl.ac.uk).
How the circular economy can cut
unemployment
Dustin Benton, Head of Energy & Resources at Green Alliance, takes a snapshot of the employment potential of the circular economy
T
he EU’s circular economy package, launched last December, will increase resource productivity, boost recycling and cut waste. Its original aims were to cut the environmental impact of raw material extraction and use, while securing raw material access for
Europeanmanufacturers. But these goals run the risk of feeling out of step with the big politics of Europe: falling competitiveness compared to rising manufacturing powers; the blight of persistent unemployment; and the rise of poor quality, low wage jobs. All policy is subservient to politics, and so politicians have begun to explore how EU policy can address the grand challenges: to be bigger on these ‘big things’, as Juncker famously put it. The circular economy is no exception. And here our analysis has good news: there is a big social benefit to the circular economy. It can create new, good quality jobs, which cut unemployment in places where it is highest. Last year our analysis, done jointly with WRAP (Waste & Resources Action Programme), showed that a more circular economy could lift 54,000 people out of unemployment across the UK, with the biggest benefits accruing to North East England. We then extended the research to look at Italy, Poland and Germany. Despite differences across the countries, we found big benefits in all the countries we analysed. Equally importantly, we looked at job quality, and found that compared to the average job in the UK, employees in circular economy occupations are less likely to be underemployed, or to be seeking a new job, which points to the attractiveness of these types of jobs. Our conclusion is that the circular economy will be great for the environment and for Europe’s big unemployment and underemployment challenges. The obvious conclusion is that Europe should go big on the circular economy. I
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- july / august 2016 - 31
CIRCULAR CITY: the case for London Paul Turner, Deputy Chair of the London Sustainable Development Commission (LSDC), answers questions on what London is doing and has to do to become truly circular Does London have the potential to be a Circular City? As the sixth biggest metropolitan economy
globally,
London
has
a great opportunity to lead the way in becoming a ‘circular city’. This not only makes sense for the environment but also economically and socially. Moving to a circular economy in London could bring benefits of £7bn per annum by 2036. What role does the LSDC play in championing and facilitating the drive to a circular economy in London? The LSDC brings together experts from a range of sectors to provide independent advice to the Mayor that helps make the city become more sustainable as it continues
looked at the impact of transformative change with substantial
to develop and grow. Championing the circular economy is one
advancement in remanufacturing and servitisation. This scenario
of the Commission’s three priorities. The Commission recently
suggests that by 2030, employment in circular economy activities
worked with the Waste and Resources Action Programme
in London could create 40,000 jobs.
(WRAP), the Greater London Authority and the London Waste and Recycling Board (LWARB) to produce a report on the job creation
What kind of investment is required?
opportunities provided by a move to a circular economy in
The question we need to answer is ‘how do we repurpose existing
London. Following the publication of the report, the Commission
investment pots?’ Our report showed that the net increase in
has been working closely with LWARB which has produced a route
jobs would be much lower than the gross number due to new
map to make London a circular economy capital. Later this year,
roles replacing older linear economy roles. The same must be
the Commission is organising a ‘seeing is believing’ event where
true of investment.
companies can share case studies and leading circular economy companies or entrepreneurs can showcase innovation. The aim
What is already happening in London?
of this initiative is to stimulate collaboration and innovation. We
There is much happening already in London, both large and
also plan to launch a Circular Economy Business Commitment.
small scale. The LSDC’s London Leaders programme aims to demonstrate the power of leadership, collaboration and
What were the findings of the report on Employment and the
innovation in tackling the sustainability challenges inherent in
Circular Economy?
global cities such as London. A number of the London Leaders
The report built on work done by the Green Alliance and WRAP
have tackled issues around the circular economy.1 One example
(see p 31) that looked at the impact on jobs of increasing
is the Restart Project (therestartproject.org), a London-based
resource efficiency and moving towards a more circular economy
social enterprise that encourages and empowers people to use
approach across Britain. Three scenarios were considered, and
their electronics longer in order to reduce waste. It helps people
the same three scenarios were used when looking at London.
learn to repair their own electronics at dedicated events and in
The first scenario assumed that there were no new initiatives.
workplaces. Restart has run more than 70 events in London in
The report concluded that natural growth rates would result, by
the last two years and has created a vibrant community of over
2030, in a modest increase of 3,000 jobs. The second scenario
35 repair coaches. The Restart Project already helped prevent
assumed that we maintain the current development path to
1.2 tonnes of electronic waste. Another is Snact (www.snact.
2030. This would result in the expansion of the circular economy
co.uk), which makes fruit snacks from fruit surplus. Tonnes of
with potential to create 16,000 new jobs. The third scenario
perfectly good fruit gets thrown away in the UK before reaching
1. See www.londonsdc.org/londonleaders/ for more info.
32 - info - july / august 2016
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
shops, but Snact turns that into healthy snacks that contribute
to a circular city model, we need to be able to measure and
to one of your five a day! But a better food system is also about
compare progress with other leading cities. This would generate
the people involved in it, so as the business grows, it plans to
competition and stimulate innovation. I would love to be able to
employ people who’ve been affected by food poverty to help
benchmark London to Paris and New York. In terms of learning
make and sell the snacks.
from others, absolutely – there are some great examples but I have yet to see a city that has implemented a comprehensive
Do you benchmark against other world cities?
strategy. The LSDC will be pressing the Mayor of London to
The honest answer to benchmarking is ‘no’. We would love to
champion the Circular Economy to enable London to become
be able to do this but at the moment the methodology doesn’t
a world leader. I
exist. This highlights a real issue. As we champion the move
Interview by KF
The
social dilemma
of the circular economy
Anne-France Kennedy, Director at ON5, considers how far we are from making the circular economy a social norm
A
wareness and recognition of the benefits of the circular
of developed countries are used to having cheap products
economy should become more prominent in the
renewed or replaced frequently.
next decade as an increasing number of influential
This dilemma corresponds to that of ‘social norms’, which
stakeholders are promoting it, from public institutions1, to
are ‘rules and standards that are understood by members
large corporations (such as Google, Ikea, Kingfisher, Jaguar,
of a group and that guide and/or constrain social behaviour
General Motors, Veolia and Cisco), high profile business
without the force of law’4. Studies have shown that ‘trust
leaders, and now universities (Cranfield University launched
and a shared willingness to live by norms are key factors
the first Master’s in the Circular Economy this year).
determining how efficiently common property resources are
It is also supported indirectly by the convergence of
used’.5 Key questions addressed through social norms are
various schools of thought that are infusing positive change
‘Why do people forego private gains for the public good?’ or
in management studies and leaders’ mindsets. New insights
‘Why would people forego private gains for the public good?’6
from theories like the Blue Ocean Strategy , along with new
Social norms variations are linked to cultures and personal
think tanks such as Blue Print for Better Business and the
values.7 And it is recognised that there are different ‘types’
Aldergaste group are promoting more ethical, transparent and
within populations, some more inclined to cooperation, and
collaborative approaches to running countries, companies and
others more inclined to defection.
2
institutions. Even advertising agencies are breaking away from traditional marketing campaigns to promote sustainable living3.
The days when all consumers ask for ‘circular-made products’, in essence becoming ‘circular buyers’ seem far
For those who study or work ‘in the zone’ of sustainable
away. However, looking at past examples of major shifts in
business, opting for a circular business approach is an obvious
social norms, there is hope that consumer core behaviour
path. But many who run businesses today will perceive it as
will change to become more ‘circular’ within a generation. Just
a leap into the unknown. The practicalities of turning a ‘linear’
think of how people used to smoke indoors at dinner parties,
business into a ‘circular’ one are clearly costly and complex.
in cars and at the office without being aware of the detrimental
One of the main reasons for their reluctance is that consumers
effects cigarettes had on each other’s health, or how parents
do not seem to value the investment. This is what I call the
crammed babies and toddlers into the back of cars without car
‘Circular Economy Dilemma’. Consumers may not care about
seats or seat belts. These behaviours would be unthinkable
products being recycled or re-manufactured or might not even
today, showing that social norms can change. Reputation
buy them if they are more expensive and less attractive.
effects, monitoring and punishment by peers and future gains
The Circular Economy Dilemma is twofold. On the
from cooperation are all potential mechanisms to align social
one hand, at a global level, everyone in the world should
and private incentives. These are not rocket science solutions
be entitled to buy or lease the same amount of food and
so I have hope that I will still be around to be able to see
personal equipment that citizens of developed countries have
most of us naturally embedding ‘circular shopping’ to make it
been enjoying for decades. On the other hand, consumers
everyone’s business. I
1. WRAP estimates that a European transition to the circular economy could create 3m extra jobs by 2030 and reduce unemployment by 520,000 (Edie.net article 8/03/2016). 2. Developed by Harvard’s scholars Chan Kim & Renée Mauborgne is a new way of thinking, a movement away from a competitive mindset. 3. http://sustainablesmartbusiness.com/?wysija-page=1&controller=email&action=view&email_id=92&wysijap=subscriptions. 4. Cialdini and Trost, 1998, 152 5. Bulte and Horan, Identities in the Commons: The Dynamics of Norms and Social Capital, 2010 6. Pro Self vs Prosocial (Bogaert et al, 2008) 7. Dowell et al, 1998; Lindbeck, 1997 info
- july / august 2016 - 33
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
TAX OR TARGET ?
How to incentivise a shift to closed-loop supply chains Policy plays a huge role in getting companies to shift to circular practices, but what works best? Research by Sam Aflaki, Assistant Professor of Operations Management and Information Technology at HEC Paris and Shumail Mazahir, HEC PhD, has looked at the pros and cons of two different approaches and found a hybrid could be the best way to go
T
he
significant
rise
in
global
between legislation and firms’ decision
dual-market strategy) and compare a
to
processes. CLSC management entails
recovery target and a taxation policy
cycles
many important trade-offs such as
that both taxes manufacturing and
has created a mass of unrecovered
those associated with product design,
subsidises remanufacturing from the
consumerism shrinking
in
product
addition life
products that contribute to massive
perspective of a policy maker whose
landfills with significant adverse social
objective includes a range of economic,
and environmental effects. Although this has prompted some firms to voluntarily sustainability
create
value
initiatives
–
through including
product recovery and (in some cases) subsequent remanufacturing – lack of sufficient incentives for that approach has led policy makers to intervene via
legislative
mechanisms
that
encourage firms to take environmental responsibility for their products. In the context of product recovery, a major component
in
closed-loop
A mix of recovery target and remanufacturing subsidy creates the perfect incentive for environmentally beneficial remanufacturing which would ease the need for high production tax levels
supply
fiscal and environmental criteria. Aflaki and Mazahir propose that, in equilibrium, the taxation/subsidy scheme
is
more
environmentally
friendly because it leads to higher remanufacturing product
and
lower
consumption.
new-
However
this policy comes at the expense of customers’ economic welfare as it leads to higher new-product prices. The recovery target policy on the other hand has higher economic but lower environmental
benefits.
However,
chains (CLSC), these legislated schemes
logistics and market positioning of
mixing the former ‘soft’ with the latter
can take different forms.
potential remanufactured products. For
‘hard’ scheme would create a synergic
The European Union’s Directive
example, a major concern associated
effect to yield a policy that encompasses
on Waste Electrical and Electronic
with remanufacturing is the risk of
the economic and the environmental
Equipment (WEEE), whose most recent
new-product demand cannibalisation
benefits of both of its ingredients.
version was enacted in 2012, imposes
by the introduction of remanufactured
A mix of recovery target and
a minimum recovery target for a
products. This, in turn, affects firms’
remanufacturing subsidy creates the
number of categories of electric and
decisions to market remanufactured
perfect incentive for environmentally
electronic products. Alternative policy
products in the same channel (single-
beneficial remanufacturing which would
mechanisms, such as the California
market
in
ease the need for high production tax
Electronic Waste Recycling Act (CEWRA),
a
(dual-market
levels (as compared to a pure tax policy),
impose a recovery tax collected when
strategy).
legislation
both from production quantity and fiscal
the electronic product is sold. These
scheme that promotes remanufacturing
perspectives. Overall, what is needed is
two
should take into account firms’ demand-
a more comprehensive approach in CLSC
cannibalisation fears.
policy design, one that takes a holistic
alternative
approaches
have
different implications for firms’ pricing and marketing decisions, as well as their
strategy)
separate
or
potentially
channel
Therefore
any
To characterise the optimal CLSC
view of firms’ response to legislation
policy, Aflaki and Mazahir build a
with a carefully chosen policy type that
Answering the question of which
stylised equilibrium model to deduce
also incentivises remanufacturing with
scheme is more effective is challenging
a single firm’s behaviour (in terms
its fine-tuned parameters. I
because of the complex interaction
of product pricing and single-versus
subsequent product recovery quantity.
34 - info - july / august 2016
The paradigm shift:
How the circular economy could work for business Mathieu Hestin, Director, BIO, Deloitte France, and Agata Kozolup, Senior Associate, Deloitte, consider what the circular economy means for businesses, and what strategies could be employed to implement it
O
ur historical linear model made (almost) perfect sense in a
consumers tends to put less emphasis on ownership, opening
world with seemingly infinite resources, made available at
opportunities for new business models such as the functional
prices which continued to decrease due to significant investments
economy.
in infrastructure and technological progress. However, the 21st century has seen a dramatic shift in this paradigm: commodity
Business strategies of the circular economy
prices experience rapid growth, along with high volatility and
While the only way to effectively reduce environmental impacts
resulting high supply risk. This trend sends a strong message to
is to improve the environmental performance of the product
businesses which have to respond by implementing profound
throughout its whole life cycle, in most cases, the complexity
changes in their operating models.
of value chains limits the practical application of this approach. The figure below illustrates seven types of strategies for circular
Towards life-cycle responsibility
economy, which fall into three broad categories.
The solution offered by the circular economy can be explained
• Design, often contained within ‘eco-design’ or ‘cradle to cradle’:
in simple words: reduce raw material consumption, maintain
Designing a product for circular economy starts by asking simple
materials and products within the economy for as long as
questions, such as ‘What happens to my product at its end-of-life?’
possible, and eliminate waste. At a company level, it can be
and ‘How can I improve the design of my product to make it more
translated into extending responsibility over the life-cycle of
durable, reusable and recyclable?’.
products, ensuring their durability, reuse and recycling, and thus
• Take-back management: Municipal waste management is the
reducing supply risks and gaining competitiveness.
classic take-back scheme which often offers separate collection
This strategy is highly supported by public policies and
for recyclables. Producers may go beyond that by proposing
consumption trends:
alternative individual or collective take-back schemes, possibly
• Public policies: The EU and the OECD have been targeting
involving reverse logistics or deposit.
the ‘waste problem’ for a long time by ensuring environmental
• Re-loop: Extending lifetime, through repair and refurbishment,
and health quality of disposal options, and actively promoting
remanufacturing, or, at the very least, recovering the materials
recycling and recovery. Importantly, the EU is committed to
through recycling, are the main options to be developed to actually
the ‘life-cycle approach’ which, in some cases, can be made
‘close the loop’ and gain the full benefits of the circular approach.
mandatory through the extended producer responsibility (EPR)
While the above strategies can be adopted individually,
strategy, which renders producers directly responsible for the
they can only realise their full potential when amalgamated and
treatment or disposal of post-consumer products.
combined with enhanced consumer experience, higher product
• New consumption patterns: Thanks to the possibilities offered
quality and cost reduction. Companies willing to not only improve
by digital applications, consumers increasingly co-operate by
but also radically change their business models in order to
sharing, lending, or bartering products. This new generation of
embrace the circular economy will be the leaders of tomorrow. I
Source: Deloitte
info
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How easy is it for companies to implement
circular economy ideas?
When it comes down to business, what steps can be taken to put circular economy theories into practice? Henry le Fleming, Assistant Director - Sustainability & Climate Change at PwC looks at two approaches
T
o the disappointment of theorists and idealists, the
The business operations approach
impact of any idea is limited by its capacity to be applied.
The second approach is to examine business operations and
The circular economy is a collection of great ideas for
identify where circular economy ideas can reduce impacts and
businesses. Do they have the capacity to be applied in the
create value. All companies have some kind of operations, even
practical world of business people? It is perhaps easier for a
if just an office-based organisation, and can apply this method.
start-up business to design itself from scratch to ‘be circular’.
A good place to start is to examine the material flows in the
Most existing companies will examine the ideas of the circular
business and the places where the business creates waste. Whilst many companies are measuring carbon and
economy and wonder how in practice it can be done? In essence there are two approaches that a company can
water emissions, we have been surprised how few are really
take to implement the circular economy. The first will be based
measuring and reducing waste. We did a survey with Business
on products. Can you produce a product which can be serviced
in the Community and found that only 47% measured waste
to remain in use longer or remanufactured? How can you
produced and had a target to reduce waste in place. Similarly
generate more revenue from the servicing or re-manufacturing
only 51% measured the recycling they did and had a target to
of the product? The second approach is to examine your
improve their performance.
business operations. How can these be changed to reduce the
Nearly 40% of those with a target had ‘Zero waste to landfill’ as the target. Whilst this has some environmental
waste you produce?
benefit, it is also a EU and UK policy, so simply doing nothing
The product approach
means companies will meet this target in due course. More
The circular economy theorists like the product approach. It
significantly, only 47% knew the costs of their waste disposal,
has more potential to make significant change to the structure
and 72% had not quantified the benefits from trying to recycle
of a business and the economy as a whole. One of the best
more of their waste streams.
known examples is the Renault remanufacturing unit. This
At PwC in the UK, our teams have wrestled with these issues
takes water pumps from old cars and remanufactures them
for a few years now, both for our own operations and when
to re-use in new cars. Whilst this is a great positive example,
trying to help clients. We use a simple 1-2-3 framework (see
technical development of products can limit the application of
figure below) to develop the targets we set ourselves from
this approach. For example, a seat in a modern car has very
better waste management to circular economy thinking.1 I
little in common in terms of materials and function compared to a seat in a car made 12 years ago.
STAGE
1. Find out more on how we applied this to ourselves at www.pwc.co.uk/assets/pdf/ pwc-going-circular-second-edition.pdf and https://vimeo.com/168181751.
1. WASTE REDUCTION
2. MAXIMISE RECYCLING
3. CIRCULAR ECONOMY
• Audit waste flows • Reduce waste production
• Extend waste management • Extend recycling
• Identify alternative product / material use options
• Separate easy-to-recycle
• Develop third-party material
• Analyse environmental and
ACTIONS
materials
• Reduce high environmental impact disposal methods
re-use loops • Identify sources of problematic material flows – seek alternatives
financial benefits • Work with suppliers to develop eco-products and closed loop treatments
• Support sector changes
Reduce environmental OUTCOME impacts and cost
Positive environmental impact, enhancing core business model
Source: PwC
36 - info - july / august 2016
Minimise environment impacts, optimise value creation from waste
The Circular Economy 100 Businesses taking Circular seriously
T
he Circular Economy 100 (CE100) is a pre-competitive innovation programme established to enable organisations to develop new opportunities and realise
their circular economy ambitions faster. It brings together corporates, governments and cities, academic institutions, emerging innovators and affiliates in a unique multistakeholder platform. Launched by the Ellen MacArthur Foundation in 2013, the CE100 was a response to demands from a small but growing group of leading companies looking to incorporate circular principles into their business models. Over the past three years the network has grown in size and maturity, and is now fully populated. The mission of CE100 is to empower members on every step of their circular economy journey, the first step of which is to nurture and develop thought leadership within an organisation. Research and Insights equip members with the resources to deepen their conceptual understanding of the circular economy, and tailor the principles to their local operations and market.
The transition to a circular economy requires the scaling of innovative business models and technologies Once a member has developed their circular economy vision and objectives, they need to disseminate these
Ellen MacArthur speaking at the annual CEO100 summit
internally. Capacity Building tools, such as communication packs and online learning platforms, designed to effectively
Through tailored bi-annual Acceleration Workshops with
educate and communicate to all levels of the organisation,
representatives from all 100 member organisations, the
build traction around the company’s initiatives.
programme facilitates multilateral, cross value chain, and cross
Taking a system view is fundamental to designing a more effective value-creation mechanism. As a result, the transition
discipline collaboration. Of course this journey is non linear! Networks have been
to a circular economy requires a different approach to doing
launched in both Brazil and the US through the Localised
business. Networking opportunities provide members with
Network programme. The CE100 Brazil and CE100 USA are
the platform to connect with other thought leaders and build
taking the circular economy narrative into new geographies
the external networks they need to implement collaborative
and markets, and members are identifying unique, local
projects.
opportunities and challenges. As the CE100 grows and the
The transition to a circular economy requires the scaling
narrative evolves, the four different programme elements
of innovative business models and technologies. Collaboration
put members in the best position to succeed in leading the
is critical to successful prototyping and achieving scale.
transition to a circular economy. I
info
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VEOLIA
INNOVATION driven by the CIRCULAR ECONOMY Estelle Brachlianoff, Senior Executive Vice-President, UK and Ireland, of Veolia looks at how difficultto-recycle materials are driving innovation to come up with circular solutions
oday’s expanding global population is placing ever-
T
For us, innovation is the key to get new materials and green
increasing demands on our resources and energy
energy, and there is a growing number of examples of how
supply. To sustain this growing demand, and protect the
closed-loop solutions can yield more materials and give them a
environment, we must now get smart and look at all kinds of
second, third and fourth life. Whilst recycling has been around
possibilities to get these resources.
for many years, advances in technology have now given us
By realising this value, less of our waste will go to waste, and it has major economic potential. Independent research
much greater potential for extracting real value from difficultto-recycle materials. It’s time to mine in unusual places.
from Imperial College London, commissioned by Veolia, has
Non-recyclable paper and cardboard from household waste
identified that it could add £2.9bn per annum to UK GDP. But
has been dismissed in the past but is now a valuable material.
to achieve this goal and keep resources in circulation as long
By converting it into a pulp, called Pro Fibre, it can be used
as possible, we need to drive circular economy thinking into
in a range of products such as insulation and construction
a reality.
materials, and packaging. Having identified the potential, Veolia
38 - info - july / august 2016
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
... innovation is the key to get new materials and green energy, and there is a growing number of examples of how closed-loop solutions and yield more materials and give them a second, third and fourth life
is now delivering up to 14,000 tonnes of Pro-Fibre as a costeffective, sustainable feedstock. The eight billion plastic bags discarded in England every year can also lead a double life through the Bag2Bag programme, a scheme which collects bags and processes them to produce new refuse bags that are distributed free to residents of Southwark. Within three months of its launch in 2015, this programme had produced 500,000 new refuse bags. In mobile phones, catalytic converters on vehicles and even in pharmaceuticals, precious metals play a vital role. But the reality is that in their natural form these ores are running out. To counter this, Veolia is working on a number of projects to recover precious metals such as platinum, palladium and rhodium from diverse waste streams including expired pharmaceuticals, and from the oil refining process. If you want a glimpse into the future, take a trip down the Old Kent Road where Veolia’s Southwark hub is a resource centre which separates thousands of tonnes of recycled materials for reprocessing. We know that although some things are not yet viable to recycle, they can still provide energy for communities. After processing, the Southwark facility sends residents’ unrecyclable waste to the nearby SELCHP (South East London Combined Heat and Power) plant, which converts this material into electricity and heat for district heating. It is part of a network of 10 facilities that turn two million tonnes of non-recyclable waste into low carbon energy for over 300,000 homes. Even sewage sludge has a value. It can be processed to produce biogas and generate renewable electricity which currently gives enough to power a city the size of Manchester. Treating the 7 million tonnes of human waste available each year with the latest systems means we could now double this electrical generation and produce enough renewable power for over half a million homes. Instead of throwing things away, we believe everything that we buy, use or consume should be recycled or converted into energy. Analysing what is thrown away, and developing ways of extracting valuable materials will ultimately help sustainability, and support the circular economy objectives recently agreed in Davos. This in turn will protect our resources and the environment for future generations as well as give a boost to GDP. I
info
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SCHNEIDER ELECTRIC
CIRCULAR by DESIGN Rodney Turtle, Vice President of Public Policy and Government Affairs at Schneider Electric, explains how circularity principles have been introduced into the design of the company’s products as part of a sustainability mindset that permeates the business
S
chneider Electric is committed to reducing the environmental impact of its new products and providing its customers with the environmental information they need. On the eve
of the Paris Climate Change Conference (COP21) in late 2015, we announced 10 commitments for sustainability that would be tracked in our Planet & Society barometer. This barometer has been our sustainability scorecard since 2005 and helped us achieve 12th place overall in the 2016 ‘Global 100 Most Sustainable
Corporations in the World’ ranking by Corporate Knights and first place in our sector. We are committed to designing 100% of new offers following the Schneider Electric Eco-Design methodology and to realise 75% of product revenue with our Green Premium eco-label. The
Eco-Design
way
benchmarks
the
environmental
Electric vehicle lab
impact of the Group’s new products against external reference products or previous Schneider Electric ranges. This approach
of Hazardous Substances directive which bans the use of six
aims to measure improvement against a range of different
potentially hazardous substances in manufacture. Second, it must
indicators concerning impact on climate change (including CO2
provide information relating to the presence of Substances of
footprint), consumption of raw materials, reduction of hazardous
Very High Concern (SVHC) as specified by the REACH (Registration,
chemicals, energy efficiency and the serviceability and circularity
Evaluation, Authorisation & restriction of CHemicals) regulation.
profile of the product. Good design can enable the product to
Third, it must have a Product Environmental Profile (PEP)
be more easily repaired or upgraded, easier to reuse and easier
providing a list of materials, a recycling rate and a calculation of 11
at end of life to decompose into valuable waste streams, which
environmental impacts such as raw material, energy consumption,
can then be recycled. For example, Schneider Electric’s Compact
carbon footprint and damage to the ozone layer over the whole
NSX range of moulded-case circuit breakers not only contains
product life cycle from manufacture to end of working life. Forth,
a monitoring unit to control energy consumption and power,
it must contain a guide to identifying and locating the subsets or
but has been designed to provide preventive maintenance
components required for a particular recycling process, known as
indicators and for easy disassembly and recycling. In addition,
the End-of-Life Instruction guide (EoLI).
its electronic monitoring unit can be easily upgraded during
Jean-Pascal Tricoire, Chairman and CEO at Schneider Electric,
the several decades of expected service so that it delivers the
said: ‘Our role is to make sure that Life is On for everyone,
performance advances our customers expect of the latest
everywhere, at every moment. Sustainability is thus at the heart of
electronic technology.
our company strategy. At Schneider Electric, we are convinced that
Our customers want and are beginning to expect
better climate means better economy. We believe we are living in a
environmental information. To meet this need we developed
very exciting time where new technologies enable us to completely
Green Premium as a unique eco-brand. A Green Premium product
rethink the way we deal with energy in a far more sustainable and
must fulfil four criteria. First, it must comply with the Restriction
efficient manner.’ I
40 - info - july / august 2016
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
Source: Schneider Electric
... we are living in a very exciting time where new technologies enable us to completely rethink the way we deal with energy in a far more sustainable and efficient manner
Zero waste to landfill factories Z
ero waste to landfill during manufacturing means that
factory in Leeds, which employs over 400 people, has been
products and the processes used to produce them are
certified as ‘zero waste’. It achieved this by maximising use of
designed to avoid and even eliminate the volume and toxicity of
recycle and return where delivery pallets are returned to our
waste and materials, to conserve the manufacturing resources
suppliers; scrap metal is segregated during production and
and recover them for reuse by others. The objective is the
sold to external recycling companies; plastics and cardboard
prevention of waste.
is formed into bales and taken for recycling. In addition, there
Schneider Electric, as part of its sustainability pledges, has
are two types of bins on site ‘General Waste’ and ‘Dry Mixed
committed to ‘towards zero waste to landfill for 100 industrial
Recycling.’ The former is taken to a local waste-to-energy plant
sites’. At the end of 2015, this amounted to 64 sites worldwide
where all of the waste on site that cannot be recycled is burnt
with eight accredited sites in the UK. This indicator relates to
to generate energy avoiding landfill, whilst the dry mixed waste
production and supply chains of the manufacturing sites which
is commercially recycled. The philosophy which informs the
must be able to recover more than 99% of metal waste and
process design and operation of the site is that all that can be
more than 97% of non-metallic waste.
recycled is, and all that cannot goes to a waste-to-energy plant
Our medium voltage switchgear and distributor transformer
resulting in zero waste to landfill. I
info
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RENAULT
The drive towards CIRCULARITY Jeremy Townsend, Communications Director at Renault UK, details the car manufacturer’s pioneering approach to the circular economy
T
he era of cheap and plentiful fossil fuels and other essential materials is drawing to an end. That reality, combined with demographic pressure and the limited
availability of resources and foodstuffs, underscores the need to revise the current production and consumption model, a linear model that consists in extracting raw materials, using them to produce goods, consuming them and then throwing them away. The new approach is the circular economy, based on a systemic vision inspired by the workings of nature. Nature does not produce waste; everything is reused, composted and digested. Manufactured products themselves can be produced using less energy and reintegrated in the production
Groupe Renault is playing a hands-on role in the transition
process without generating waste, by reusing, repairing or
to the circular economy through its involvement in the
remanufacturing them.
creation of the Ellen MacArthur Foundation, working as part
Groupe Renault is playing an active and pioneering
of the structure and together with other players. It has also
role in the circular economy because its issues are both
structured its commitment to the circular economy by setting
environmental and economic. Extracting and transforming
up a subsidiary, Renault Environment, in 2008. The group
raw materials can harm the environment and reduce their
funds Renault Environment to develop partnerships and
availability for future generations. In parallel, the rise in and
shareholdings in the circular economy sector.
volatility of commodity prices have a negative effect on the
Renault’s circular economy plan starts with the careful eco-design of its vehicles.To cut down on the use of natural
To generate less waste, Renault designs vehicles that can be 95% recoverable and 85% recyclable at end of life
resources, it favours the use of recycled materials in manufacturing. In 2016, the group achieved a ratio of 33% of recycled materials in the total mass of its vehicles. To generate less waste, it designs vehicles that can be 95% recoverable and 85% recyclable at end of life. Renault organises the end-of-life process of its products
current and future profitability of companies around the world. As a major economic player, Renault seeks to ensure
so that parts and materials can enter a new life cycle. It has developed technical, logistical and economic solutions for
the long-term future of its businesses by taking account of
collecting end-of-life vehicles, parts and materials, reusing and
environmental and social challenges. Renault is also convinced
remanufacturing used parts, and transforming used materials
that automobiles, through their intrinsic characteristics, can
to give them a second life. Renault makes a real-life contribution
tie in favourably with a circular economic approach. Vehicle
to these sectors to keep them profitable and improve the
production costs are sensitive to commodity prices because
availability and quality of parts and materials.
commodities account for roughly 20% of the total cost price. Commenting, Jean-Philippe Hermine, Head of the
Looking beyond economic considerations, Renault uses the circular economy to shrink the environmental footprint
Environmental Plan of Groupe Renault, said: ‘Detecting
of its products and activities. Working on the entire life cycle
potential resources in end-of-life products and safeguarding
of its vehicles – and in particular by reducing CO2 emissions –
their technical and economic value is a new, and virtuous,
Renault leads an ambitious policy on the reduction of its carbon
way of sharpening your competitive edge. Who is better able
footprint, the main component of the environmental footprint.
than the producer of the goods and corresponding services to
Renault met its objective to reduce its carbon footprint by 10%
control these resources, ensure their quality and traceability,
between 2010 and 2013. Pursuing its efforts, it is aiming for a
and make optimum use of them?’
3% reduction per year on average between 2010 and 2016. I
42 - info - july / august 2016
VINCI
WASTE OPTIMISATION in construction
Wallasea island ©Crossrail Ltd
The Crossrail project1 - the largest construction project in Europe - has massive potential to generate waste but has been ground breaking in its sustainable approach, as Carine Tribondeau, QSE Manager and Clarence Michel, Senior Communications Manager at VINCI Construction Grands Projets, explain
Aerial view of Wallasea Island
R
educing and, where feasible, eliminating the waste we
our Crossrail project maintaining throughout 2015 the 100% re-
generate and send to landfill in an effort to minimise the
use/recycled rate on a period-by-period basis since July 2012. The
associated environmental impact and associated costs is a
waste produced at Crossrail has been recycled into the following:
key component of our BBMV2 sustainability objectives. To become a more sustainable project, the construction
• Concrete: crushed, pre-sized, sorted, screened to produce high quality aggregate for foundations/roads, etc.
team has focused on reducing waste generated and set a target
• General rubbish: the waste is sorted off site; relevant items are
to divert 95% of our construction waste from landfill. Waste on
sent for recycling and any residue is then sent for incineration
the Crossrail C510 project has been divided into two distinct
to produce energy from waste
categories:
• Metal: processing ferrous and non-ferrous metal scrap into vital secondary raw material for the smelting of new metals
Excavated soils
• Wood: chipwood for animal bedding.
Crossrail is a delivery partner for Wallasea Island Wild Coast project – a landmark conservation and engineering scheme that
M1 motorway innovation
once completed, will provide a haven for a wonderful array of
Overall, VINCI Construction Grands Projets is committed to
nationally and internationally important wildlife. All arisings from
protecting the environment at its worksites by building its own
tunnelling and station construction is being transported to the
environmental protection plan, defining project objectives and
Island. The Royal Society for the Protection of Birds (RSPB) plans
targets, including proper waste management. Another successful
to import 7.5 million m3 of soil to help raise the land level and
example was our M1 Widening project from Junction 25 to 28,
reduce the capacity of the island to a designed level of more than
where a cost-effective and environmentally friendly solution
2 million m3. Towards the end of 2014, our Crossrail project had
was implemented as part of the work carried out on the central
contributed a total of 533,570 m3 of clean inert excavated soil to
reservation of the M1 motorway. This innovative solution recycles
Wallasea Island.
100% of road planing material, which often contains tar, by neutralising it in the extruded concrete (poured in slip forms)
Construction waste
in the sub-base. This material-optimisation process has led to a
Construction waste continued to be a success story last year with
16,000-t CO2 equivalent emission reduction. I
1. Crossrail is the new high frequency, high capacity railway for London and the South East 2. BBMV is a joint venture established by four leading construction companies – Balfour Beatty, BeMo Tunnelling, Morgan Sindall and VINCI Construction – to deliver major packages of the Crossrail project. info
- july / august 2016 - 43
MOSSESSIAN ARCHITECTURE HOW TO CIRCLE THE SQUARE:
The built environment and the circular economy Architect Michel Mossessian considers the challenges of designing sustainable buildings and environments that respond to the realities of society and the changing world
architect Alejandro Aravena created two introductory
© Cristobal Palma
A
t the Venice Architecture Biennale this year, Chilean rooms using over 90 tonnes of waste – scrap metal
and plaster boards – generated by last year’s event. Entitled ‘Reporting from the Front’, the Biennale theme was intended to encourage architects to respond to global issues of economic crisis, housing, migration and waste. Nevertheless, the concept of circularity – recycling or reusing materials and forms in the construction industry – is more a question and provocation today than a reality. Obviously buildings are the biggest energy consumers over their lifespans, from their construction to their heating/cooling,
Aravena’s ‘half a house’ prototypes in Iquique, Chile
powering and dismantling. A building has a lifecycle of 25-30 years, so technically, something of better value could be built,
But architecture is not just about materiality, it is also about
but the industry is set up, within a market economy, to produce
the way you use buildings. That is also undergoing a change as
buildings without questioning too much. It is preoccupied with
ownership is becoming less valued. If we don’t need to own to
the immediacy of delivering square feet to the market against
have, then we don’t need to produce as much as before, and
time, and ideas of rethinking the model and building for the
I hope that gains currency along with a mindset that engages
future are on the periphery.
more with the collective. In New York, they have developed the
Nevertheless, we do have sustainability assessment methods
concept of lifelong rental apartment block living, with not only
for infrastructure and buildings such as BREEAM and LEED, and
shared amenities, services and community spaces, but also the
certification is attractive for clients, tenants and investors as
flexibility of being able to upsize or downsize your apartment
people increasingly want to live and work in clean and green
according to your needs or the stage of your life. This provides
buildings. These are incentives to make better buildings. It is a
better value for the space you are living in as well as enabling
process that starts with design and goes through everything,
community living and social encounters. So 21st century
from materials, longevity and capacity to recycle them to
architecture will become more about creating new spaces and
the energy used. Most buildings coming up in London are
environments to share and enjoy with others collectively as well
expected to have a BREEAM rating of Excellent to Outstanding.
as individually; spaces that perform well not only in terms of
So although we are not consciously thinking of the circular
energy and space efficiency, but also in terms of human energy
economy, by working in this way, we are on track.
and interaction.
High rises are another matter, as these are not as easy to
Architecture will also have to address some of the challenges
dismantle and recycle as a typical urban scale building, and
we face – the movement of people as a result of migration,
there are questions around their value to human society. By
natural catastrophes, terror, poverty and climate change. We
the end of this century, 80-90% of the world population will be
will have to build temporary structures for people to live in,
living in cities and this is where most energy will be needed and
which may become permanent. A few architects are working
consumed, not only in existing cities but also in the megacities
on concepts for the favelas in Brazil or the slums in India, for
being created in the emerging world. Here, dealing with the
example, and interestingly, it is in places like these that the
life cycle of buildings will be challenging, especially in places
concept of community and circularity is best developed. Pritzker
where there is a lot of unregulated construction. We need to
Prize winning Chilean architect Alejandro Aravena, for example,
be smarter in the way we build in such environments, working
has designed a low-cost housing prototype called ‘half a house’
with nature so that buildings consume less and produce more
that people can add to according to their needs and financial
energy. The problem is that it is hard to convince clients, who
situation. Thus architecture is helping to rebalance our social
believe that technology can provide anything they want, that
capacity to share, to define better communities, to create spaces
they can have buildings with natural ventilation, for example,
that can be used by all, not only those who can afford it. But it
or that all-glass megastructures are not appropriate for
is only part of the equation – we also need policy, legislation,
harsh climates.
education and aspiration to create the full circle. I KF
BREEAM (Building Research Establishment Environmental Assessment Method), first published by the Building Research Establishment (BRE) in 1990, is the world’s longest established method of assessing, rating, and certifying the sustainability of buildings. LEED (Leadership in Energy and Environmental Design) is a US third-party certification program for design, operation and construction of high performance green buildings.
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
Supporting growth & innovation of circular START-UPS and SMES As the backbone of the economy, SMEs hold the key to a circular revolution, says Jamie Butterworth, a partner of Circularity Capital, a specialist investment firm supporting the growth and innovation of businesses operating in the circular economy
S
mall to medium-sized businesses (SMEs) are particularly well positioned to capture the commercial opportunities of the circular economy. Their ability to innovate and adapt has led to them playing a key role as both enablers within the supply chains of larger businesses and through disrupting traditional linear business models with superior products and services. SMEs are also the backbone of today’s linear and tomorrow’s increasingly circular economy – across the EU28 last year, some 21.6 million SMEs in the non-financial business sector employed 88.8 million people and generated €3,666 trillion in value added. Expressed another way, 99 out of every 100 businesses are SMEs, and two in every three employees work in an SME and 58 cents in every euro of value added is derived from SMEs. Within the SME ecosystem we can see two circular economy archetypes: SME ‘enablers’ – businesses which have a business model, solution, service or technology which is accelerating the transition towards the circular economy and SME ‘transformers’ – SMEs that are moving away from a traditional linear model to capture more value through circular business models. Desso, a Dutch textiles business specialising in floor coverings, has transformed its operations from a traditional manufacturing business, reliant on significant virgin material inputs and energy, by optimising the design of its products (and their component materials) for regeneration within its own supply chain. Their use of a ‘cradle-to-cradle’ design framework has enabled them to improve margin stability and visibility of earnings, and to stimulate product innovation – including the introduction of a new range of AirMaster carpets, designed to capture harmful particulates and improve indoor air quality. Furthermore, the business has begun to decouple its growth from both primary material inputs and energy use – including investing in its own capacity for renewable energy generation. The business has created significant value for its investors through a series of private equity transactions; during the period 2007-2011 the original private equity investors made an eightfold return on invested capital and the subsequent private equity investors made a twofold return over the period 2011-2014 before the business’s sale to global flooring company Tarkett. SMEs developing circular business models, solutions and technologies range from early-stage start-up businesses to established medium-sized operators. A large number of these businesses are exploring how disrupting traditional ‘product sales’
models in favour of ‘product as a service’ models can capture and create more value. Amsterdam is one of a growing number of European circular economy hotspots, and is proving to be a melting pot for new circular businesses. One such business is Bundles, a Dutch SME which provides clothes washing as a service – selling a bundled service solution of washing machine and detergent to communal housing customers. This change in business model enables them to provide their users (no longer consumers) with access to a superior quality product on a subscription model. This is just one example in the explosion of innovation around new business models – driven in part by advances in technology and data on the location, demand/supply and condition of assets – and in part by a focus on using circular business models to capture more value. Unlocking the full potential of the SME economy will require supporting SMEs in gaining access to the right information, business development opportunities and investors. It was with this in mind that we established Circularity Capital as a specialist private equity firm to support the growth and innovation of SMEs in the circular economy. Fundamental to this is providing management
As the number of multinationals, corporate businesses and governments deploying new circular economy strategies increases, so does the opportunity for entrepreneurs, SMEs and their investors to capture new value as the enablers of a new industrial revolution teams with the expertise, network and investment they require to unlock their full potential and developing an investment strategy that generates an attractive risk adjusted return on capital for private and institutional investors alike. As the number of multinationals, corporate businesses and governments deploying new circular economy strategies increases, so does the opportunity for entrepreneurs, SMEs and their investors to capture new value as the enablers of a new industrial revolution. I info
- july / august 2016 - 45
FOCUS - AR E YOU R E ADY TO JOIN THE CIRCUL AR ECONOMY ?
Moi, moche et wonky: RETHINKING FOOD WASTE Against some shocking food waste statistics, Terence Tse, Associate Professor ESCP Europe Business School, Khaled Soufani, Director of the Circular Economy Research Initiative, Judge Business School, University of Cambridge and Mark Esposito, Visiting Fellow at the Circular Economy Research Initiative, consider how a big business and a start-up are addressing the issue
I
t is shocking how much food we are throwing away. Around
the UK. WOUP, a Cambridge-based social start-up, gets ‘wonky’
88 million tonnes of food are wasted annually in the EU1.At the
(hence the company’s name) and unloved vegetables that have
same time, some 46% of edible mass of fruit and vegetables
either not been harvested or sold or that are simply too ugly to
is lost or wasted2. In the UK, we bin 7
reach the market and turns them into
million tonnes – or some £12.5 billion
soups. One of the two co-founders,
worth – of food and drink every year
Zoë Loughlin, became conscious of
from home 3. A recent report points
food waste when she was working for a
out that manufacturing accounts for
charity. So much so, she even served a
5 million tonnes out of the 6.5 million
meal made from food waste (by fellow
tonnes of food waste created in the
co-founder Alex Collis) on her wedding
supply chain4. This is why, for its circular
day!
economy initiative, the EU Commission
because it cannot be sold. Take leeks
has committed to reducing food waste.
for instance. For some farmers, the
In fact, its ambition is to turn food
cost of harvesting them is higher than
waste into a resource. But how?
the price that they can sell them for, or
‘Sometimes,
food
is
wasted
Often, fruit and vegetables end up
whole fields can be rejected because
in the bins simply because they do not
they don’t meet the stringent cosmetic
meet the cosmetic standard of retailers.
standards imposed on growers by
It has nothing to do with quality. To
the supermarkets. Our business isn’t
take advantage of this, Intermarché,
going to eradicate food waste alone,
France’s third largest supermarket
but we see it as a vital step in plugging
chain, launched a campaign called
some of the gaps in the current food
the ‘Les Fruits et Légumes Moches’
system’, said Loughlin. The start-up is
(‘Inglorious Fruit and Vegetables’). In
focusing on providing a convenient
this case, the supermarket buys the
lunch time option for people working in
non-perfect fruit and vegetables that growers would usually
Cambridge offices – and making them more aware of food waste
discard and then sells them for 30 to 50% cheaper. To raise the
at the same time.
awareness of consumers, these ugly fruit and vegetables get their
WOUP is planning to get fresh bones and carcasses, which
own aisles and labels (e.g. ‘l’orange moche’). In fact, to enable the
normally go to landfill, to make stock for some of the soups.
shoppers to realise how they are benefiting from buying these
In addition, it would like to take old loaves from bakeries and
ugly but good quality fruit and vegetables at a reduced price,
transform them into a range of croutons (called ‘WOUTONS’) to
Intermarché goes as far as listing them as separate items on the
go with the soups.
receipts after checkout! To push the concept further, the retailer
Certainly, a lot more has to be done before a dramatic
designs, produces and sells ‘inglorious’ soups and juices based
decrease in food waste is seen. But these examples represent a
on the ugly fruit and vegetables. The result: not only have sales
very good start. Educating consumers and getting them into the
at Intermarché has gone up, but also consumers are now a lot
habit of thinking about food differently is therefore the key to get
more conscious about food waste.
us to have a better relationship with food. Just some food (waste)
Turning food waste into food source is also happening in 1. Fusions (2015) Reducing foodwaste through social innovation 3. www.lovefoodhatewaste.com
46 - info - july / august 2016
for thought. I
2. FAO (2011) Global food losses and food waste – Extent, causes and prevention. Rome 4. WRAP (2013) Estimates of waste in the food and drink supply chain
C ASE STU DY
Recycling waste coffee grounds into advanced biofuels J
ust a few years ago, bio-bean Founder & CEO Arthur Kay was an architecture student at The Bartlett, UCL, working on a project designing a coffee shop. It was here that he learnt that once processed into your cup of coffee, coffee grounds are considered to
be waste and ultimately end up in landfill. These waste coffee grounds have a very high calorific value, and where others saw waste, Arthur saw an opportunity. What if this coffee waste wasn’t exactly ‘waste’? What if it could be redefined as a resource that could be recycled into something useful? What if the life cycle of a coffee bean could be increased and it didn’t have to end up in landfill? What if it could be used to produce fuel? Fuel that could ultimately power our buildings, cities and even our cars! With that in mind, Arthur turned his idea into reality and founded bio-bean in 2013, becoming the first company in the UK to industrialise the process of recycling waste coffee grounds into advanced biofuels and biochemicals, and building the world’s first coffee waste recycling factory.
Developing an industrial model that contributes towards creating a circular economy is complex. bio-bean has been building capacity by investing heavily in creating strong infrastructure and operations It all starts with extensive research and development into higher value products undertaken in bio-bean’s laboratory in London. Working within the existing waste management infrastructure, bio-bean provides a unique waste coffee ground collection service from a range of businesses such as instant coffee factories, coffee shops, office blocks and transport hubs across the UK. The grounds are then transported to bio-bean’s factory in Cambridgeshire where they go through a range of complex recycling processes to turn them into useful and highly calorific advanced biofuels. The end product – biomass pellets which can fuel buildings – is then sold back to producers of the waste, who would have otherwise spent a great deal of money to get rid of the waste in the first place. bio-bean has been growing steadily and working towards the factory capacity of 50,000 tonnes of waste coffee grounds per annum (accounting for one in 10 cups of coffee drunk in the UK). Following on the success of their business-to-business model, bio-bean is now expanding and investing in developing consumer products such as biomass briquettes (Coffee Logs) which can fuel homes and appliances such as BBQs, chimineas, wood-fired stoves and ovens and even open fires, replacing the need for coal and wood. I Contact: info@bio-bean.com
From left to right: R&D in bio-bean’s labs bio-bean collects waste from across the UK Biomass pellets derived from recycled coffee waste
info
- july / august 2016 - 47
Let’s create a future for WASTE PAPER An article from The Positive Book*, translated into English for the first time, questions the ‘waste’ of a resource that can be recycled and reused multiple times
F
rench singer Régine’s well-known song, where she calls for
Winning the intellectual and symbolic battle
the burning of ‘little papers’, belongs to an economic era that
The first battle that must be fought is semantic and ideological.
must be put to an end: an age of linearity fed by the illusion
The term ‘waste’ implies an absence of value, and we should
of affluence, in total disregard of the ecological balance, which
rather classify waste paper as a ‘secondary raw material’,
originated with the post-World War II economic rebound and
which can by essence be reused and repurposed. Such a
reached its climax with the concept of planned obsolescence for
choice of words would allow the general public to get a better
many electrical appliances. We now have to end this madness. Our
understanding of the importance of recycling. Even though we
generation holds a historic responsibility, for it is able to initiate a
still have a long way to go in terms of eco-friendly behaviours,
new virtuous circle of consumption, that of the circular economy.
France is progressively catching up with some of its European neighbours, with 52% of recycled waste, compared to 65-
Investing in circular economy to foster job creation
70% in some countries. This evolution shows that the actions
For many reasons, paper must be first in line among all the
of eco-organisations are truly efficient. How can we make
resources we will have to learn to preserve and reuse, mainly
this progress last? We must encourage citizens to use the
because it is easy to recycle, which makes it easier to gain the
appropriate sorting containers, in residential buildings as well
support of the citizens, first actors of the recycling process
as on the street – for example, by creating designated paper
Another reason is that our need for paper will not
containers like those for glass or clothes collection – even if it
disappear, but evolve. We will thus be able to find new uses for
means reinventing the urban landscape entirely. To make the
paper (it can be recycled five times), for example by producing
sorting process easier for citizens, we could imagine interactive
medicine or diapers out of it, and also to generate new
information stands that would indicate which containers are
applications for it, thanks to green chemistry. This new virtuous
available, and where and when the collection will take place.
circle would be ecologically, but also economically profitable,
This would all be part of a global strategy with the sole purpose
as the circular economy implies a drop in production costs and
of improving the efficiency of our paper recycling process.
optimises the use of raw materials. Although it might initially
Therefore, we have to foster innovation in the field of waste
cause job destruction in some fields, it will at the same time
collection and rethink our cities just as many other countries
generate new industries and jobs. Thousands of new positions
have.
could be created, whether highly qualified (mainly in research and development) or less qualified, as people will be needed
New tools to turn waste into a resource
to convey waste to sorting and collection centres. We can
If we really want to speed up the necessary transition of our
thus imagine the emergence of ‘neighbourhood caretakers’,
economy in the near future, we must enter the era of waste
who would meet an actual social need and profit from the
resource management by taking action at all levels of the
repurposing of the waste collected. Finally, paper must be put
chain, from the conception of paper to selective sorting. Every
at the forefront of the transition towards a circular economy
stakeholder must be involved and integrated in the value chain,
because it is part of our everyday life; indeed, it is the main
and be provided with sufficient information about tomorrow’s
household waste product in France, with almost 4 million tons
industrial sector. We must also think of new institutional tools,
used every year, or 55kg per person.
and rationalise our production facilities so that the money
We are thus facing a big socioeconomic challenge that requires
saved will be reinvested in the necessary adaptation of our
our full attention and mobilisation. According to the European
industry to our future needs. Finally, we must think of new
Commission, the adoption of the circular economy model could
incentives and innovative means of financing. We have to work
lead to a 4% increase in GDP and 600,000 jobs being created
together in tight cooperation. It is not a utopia: paper can
in Europe, based on a business-as-usual scenario. It would also
create worth! The catchphrase of the manifesto for the Circular
allow us to spare 25 to 30% of virgin raw materials, which would
Economy of Waste Paper1 sums it all up: choosing the path of
represent a huge ecological benefit, as well as the reduction of CO2
circular economy means heading towards ‘Zero waste, 100%
emissions, even if it is more difficult to assess precisely.
growth’. I
Conducted in partnership with Ecofolio, the work of the Positive Lab on the Circular Economy of Waste Paper was directed by Géraldine Poivert, General Manager of Ecofolio, and supervised by Vincent Edin, an independent journalist.
1
48 - info - july / august 2016
C ASE STU DY
Axelle&Cie: Positive Planet’s circular economy project
P
ositive Planet has set itself the task of aiding people around
or thrown in the bin. She re-cut them and coloured them
the globe to create conditions for a better world for coming
with natural dyes and in doing so harmonised the collection,
generations and, in particular, their own descendants. It is
whilst keeping every piece a one-off. At the end of the initial
in the interest of those living today to help future populations,
collaboration, she decided to continue developing the idea and
who in turn will continue the chain. Such is the definition of a
launch her own business.
positive economy.
This is the moment Positive Planet intervened. Axelle came
Many beneficiaries of Positive Planet, whether located in
to us when she needed help structuring her project. She had a
Cameroon, Nepal or even in underprivileged areas of France,
unique idea, she even had been able to test a micro collection,
are already actors in the circular economy, which is of course
but had never completed business school studies. Her Positive
part of the positive economy.
Planet adviser coached her step by step so that she could draft
One of these beneficiaries is Axelle Nick, the founder of the
a business plan answering all the necessary questions: her
Axelle&Cie start-up. Axelle’s success story began when a friend
target clients, marketing and pricing strategies, her business
asked her to contribute to a micro collection of T-shirts. She
objectives, etc. Positive Planet gave her the tools she required
accepted, but only on the grounds that the clothes respected
to go as far as possible… And that’s what Axelle&Cie did! In
the environment and the consumer’s health. When it became
2015, she was named inaugural winner of France’s La Social
clear that she could not afford to buy organic cotton, she
Cup, which allowed her to spend 6 months at the Sensecube in
had the idea of recycling unwanted clothes collected in thrift
Paris, an accelerator programme for social start-ups. Here, she
stores such as Emmaus. The combination of ecological and
was able to share an incredible work space with other young
economical limitations provided the basis for the project!
entrepreneurs, all specialising in social and environmental
Axelle came up with a simple but smart process which
innovation. I
started with the collection of second-hand clothes that in their
Marianne Syed, Executive Director, Positive Planet UK
current state could not be resold due to being unfashionable,
www.axelleetcie.fr
© Axelle & Cie
shabby or stained; items that would normally be recycled
info
- july / august 2016 - 49
The CIRCULAR ECONOMY around the world 17 months, 22 countries and over 100 circular economy initiatives. For entrepreneurs, Jules Coignard and Raphaël Masvigner, this is a world tour with a difference – its aim being to find the most interesting initiatives and show that a large-scale environmentally friendly business model is possible. Aurore Largerie skyped Jules en route in Columbia…
S
hared environmental concerns led Jules and Raphaël to
started their world tour in London at the Resource Event, where
quit their jobs at Airbus in Mexico in 2014 to launch a non-
they introduced their project. As recent graduates from Toulouse
profit initiative called Circul’R. To kick it off, they raised funds,
Business School and Sciences Po, they are giving conferences at
gathered partners and embarked on their journey. Financial
universities en route, their first was held at the London School
partners are covering the team’s living and travelling expenses,
of Economics. They are also raising public awareness through
while others are providing them with support in kind: Air France
social media, articles, and video blogs on their website.
with some flights, AccorHotels with some accommodation,
‘The circular economy is quite a new concept to the general
Generali with insurance and Patagonia with clothing, to name
public, but if you think about it, it’s using natural resources
a few. Institutional partners such as Ashoka, the leading global
smartly and not producing waste. Humankind has been doing
network of social entrepreneurs, and the Institute of Circular
it for thousands of years. It’s only since the Industrial Revolution
Economy in France, are connecting them with some projects.
that we’ve changed the way we do things,’ says Jules.
The pair also launched a crowdfunding campaign, reaching
The worldwide network they have been setting up while
130% of the target, which amounted to 10% of the world tour
travelling aims to connect circular economy actors so that they
budget. But more importantly, it generated additional value by
can share best practice and even work together. For example,
gathering a community around their initiative.
in India, Circul’R connected AccorHotels to Goonj, a social
On the road since March 2015, the two entrepreneurs
enterprise that hires people in poverty and provides them with
Goonj hires people in poverty from rural India and provides them with basic resources for their work such as textiles 50 - info - july / august 2016
Jules Coignard and Raphaël Masvigner
The circular economy is quite a new concept to the general public, but if you think about it, it’s using natural resources smartly and not producing waste. Humankind has been doing it for thousands of years. It’s only since the Industrial Revolution that we’ve changed the way we do things
basic resources for their work. The company is now collecting
in developed countries, although it might face lobbies at first,’
uniforms from AccorHotels to provide people in rural India with
comments Jules. ‘Medicines are really hard to recycle, but those
textiles.
sitting on your shelf are just money sleeping or thrown away.
‘The majority of projects we’ve seen so far are start-ups because transitioning to a complete circular model for big companies is a big change and takes time,’ says
Keeping them in the loop is better for both the economy and the environment.’ From what the pair has seen, the Netherlands is
Jules, citing US carpet maker Interface as an
one of the most advanced countries in
example of a large company that took
terms of the circular economy. Jules
the plunge. When the CEO, Ray
was impressed by the number
Anderson, decided to switch
of projects they uncovered in
from a ‘take-make-waste’ to
only a week there. Examples
a circular model in 1994,
are
its share price dropped
Fairphone,
which
manufactures an easily-
drastically, but today it
reparable
phone,
is a world leader in the
and Philips with its
carpet industry.
circular project. Jules
Another purpose of
the
admits
world
tour is to look at
less
the
France.
differences
between
circular
economy
initiatives
in
emerging
developed
the
and
developed
in
However, government
an energy transition
countries. countries
the
is stepping in with bill that encourages a
Jules observes that in emerging
that
circular economy is
circular economy.
the
So far, the team has
circular economy often goes
already
hand in hand with social goals, such as access to electricity or
140
25 conferences in universities and
poverty reduction. While most of the
made over 100 connections between
initiatives they have come across could be replicated anywhere, they would have to be adapted
uncovered
circular economy projects, given
initiatives. When the tour ends in August, Circul’R will continue to promote the circular economy,
to the local culture, legislation and people, and because their
but to complement this, Jules and Raphaël plan to launch a social
needs diverge, some models from emerging countries wouldn’t
business with a global reach in Paris. ‘The way we do things now
have the same purpose as in developed countries. One example
is not sustainable. Companies will have to either adapt or die.
is a project in Senegal called JokkoSanté which launched
Those that change before the others will have a key advantage,’
a mobile App that acts as a virtual pharmacy distributing
says Jules. Drawing on their expertise and knowledge, their social
surplus medicines to poor people. People can return unused
business will help companies looking to develop activities along
medicines to a pharmacy and get points to use through the
circular economy principles by providing them with consultancy
App in exchange for medicines they will later need or to give to
and training, and help accelerate the development of circular
people who can’t afford them. ‘This initiative could be replicated
economy start-ups by giving them easier access to financing. I
Above: the landfill in Mbeubeuss, Senegal receives 2,000 tons of waste everyday
info
- july / august 2016 - 51
REIMAGINING THE MASTERS It took Catherine Balet two years to put together her book, Looking for the Masters in Ricardo’s Golden Shoes. A homage to the masters of photography, from 1839 to today, it presents an astonishing series of 120 photographs, reinterpreting artists such as Cartier-Bresson, Doisneau, Depardon, Newton and Martin Parr, amongst others. The one common denominator is their model, Ricardo Martinez Paz, a 74-year old Argentinean stylist, and Catherine’s best friend for the past 20 years. They talk to INFO about their project
W
hat gave you the idea to do such a book? Catherine Balet: It started in July 2013, when we were at the Arles’ Photography Festival. There, as a joke, I started taking photos of Ricardo taking poses copied from photos that were exhibited, which I put on Facebook. The reaction to them
was so astonishing that we decided to turn the idea into a professional project. Then, by sheer luck, I met the Festival’s director in the Eurostar, who loved our photos so much he offered to screen them at Arles the following year. It didn’t happen in the end, but it definitely boosted our determination to complete the project. One of our photos (A homage to Diane Arbus, A Young Man in Curlers at
Home on West 20th Street) was exhibited at the National Portrait Gallery for the Taylor Wessing Photographic Prize in November 2014,
so both Ricardo and I went to London. On our way back, we met Martin Parr, once again in the Eurostar and completely by chance. He invited us to talk about the series in Photobook Bristol, which is when the homage developed into a proper reflection into the history of photography. How does it feel to be photographed after a career of styling others? Ricardo Martinez Paz: I arrived in Paris in 1977, worked for decades as a stylist, dressing Jane Birkin, Charlotte Gainsbourg, Carla Bruni and the like for photo shoots. But my first love was acting, which I studied in Buenos Aires, being inspired by Audrey Hepburn, my icon since age 14. The fact is that I’ve always loved posing for photographers, and photographers I worked for as a stylist always loved taking pictures of me, so for me it made sense to finally become Catherine’s model. And why the golden shoes? Ricardo Martinez Paz: I’ve been buying golden shoes for the past 15 years, and they have become my trademark. I have four pairs which I always wear at parties, and sometime even to cycle around Paris. Now that the weather is turning hot, I should think about buying gold flip-flops! Catherine Balet: To me, Ricardo is the personification of light, which is reflected in the colour of his shoes. The golden shoes are also a common denominator in all the photos, this time as a symbol of the history of photography and its continuity.
52 - info - july / august 2016
Which are your best memories and favourite photos from the book? Catherine Balet: For me, the best memory was the homage to Martin Parr’s Luxury series, which we shot like a super-production: we used a make-up artist and friends agreed to pose as models. The shooting was very joyous and the result is both very ironic and very funny. Ricardo Martinez Paz: I agree with Catherine that this particular moment was full of grace and friendship. I am also extremely fond of the photograph of the child and the seashell by Edouard Boubat, which brought me back straight to my childhood. This is the only photo where I feel that I am truly myself- not anymore a 74-year-old man but a seven-year-old child, which made for a very emotional and strong moment. I Interview by Frédérique Andréani Exhibition from 7 September to 29 October at Galerie Thierry Bigaignon, Hotel de Retz, Batiment A, 9 rue Charlot, 75003 Paris. Exhibition from 2 September to 31 November, Photography Never Dies at Galeria Glowny in Wroclaw, Poland, European Capital of Culture 2016. Looking for the Masters in Ricardo’s Golden Shoes, published by Dewi Lewis, 256 pages, 120 photographs, £35.
Top: A homage to Martin Parr, Luxury Above, from L. to R.: A homage to Willy Ronis, The Little Parisian, 1952; A homage to Diane Arbus, A Young Man in Curlers at Home on West 20th Street, N.Y.C., 1966; A homage to Robert Doisneau, Picasso and the loaves, 1952. Opposite page, from L. to R.: A homage to Edouard Boubat, Remi listening to the sea, Paris, 1995; A homage to Man Ray, Black and White, 1926 All photographs: ©Catherine Balet info
- july / august 2016 - 53
L.E.J.’S LONDON DEBUT
F
rance’s got talent – and L.E.J. gave our guests a demonstration at the Chamber’s Annual Gala Dinner, performing for the
have thought two voices and a cello would go viral? Perhaps their boldness explains it: placing the cellist at
very first time in the UK.
the centre, doing an A Capella mash-up of Hip Hop classics
L.E.J. – Lucie, Elisa and Juliette – came into being in 2013 when
or covering Nina Simone. Unconventional, nothing seems to
the three childhood friends from Saint-Denis participated in a
stop L.E.J, and this might just be the reason: the girls have the
cover contest launched by Tryo, a French band. The girls won and got to perform on stage with the band. Their talent did not go unnoticed, and asked for more songs by web users, the three friends decided to post covers and mash-ups on YouTube. And then their ‘Summer 2015’ mash-up went viral.
capacity to appeal to everyone –
L.E.J, the French trio, which went viral after releasing ‘Summer 2015’, a mash-up of covers on YouTube, performed at the Chamber’s Annual Gala Dinner on 14 June
neither young nor old, but modern – both classic and avant-garde – the girls are crossing genres and borders. Taking one step at a time and enjoying what comes their way, the girls have gone from an
undeniable
French
success
From the Music and Dance
to touring as far as the US and
Saint-Denis Conservatoire to the
Canada, while also performing as
Maîtrise de Radio France for Lucie
opening acts to Pharrell Williams,
and Elisa, the three friends have
Grand-Corps Malade and others,
established a solid foundation in
and participating in the closing
classical music. Lucie sings, Elisa
ceremony of the Festival de Cannes.
sings and plays the drum, and Juliette plays the cello.
L.E.J has shown so much talent that everyone is curious to listen to
Two of them envisioned making
their creations. The girls are now
a living out of their music, but none
on tour and planning on releasing
of them had foreseen so much
an album of their own original
success. Today, ‘Summer 2015’ has accumulated over 50 million
compositions mid 2017. The artists said the album will mostly
views. L.E.J’s first album, ‘En attendant l’album’, a collection of
be in French, and are writing the lyrics with their manager,
covers and mash-ups, was released on 4 December 2015, and
Ozarm. All three of them are also writing the music. So far,
has already been awarded French platinum status with more
their only original song, ‘La Dalle’, gives us a taste of their witty
than 250,000 albums sold. The 22 year-olds have also been
songwriting skills. The French song about harassment of girls
extremely busy touring with 98 concerts scheduled. They have
on the streets features on their first album. But the girls didn’t
already given 40 concerts since March 2016.
forget their non-French speaking audience, as English subtitles are available on YouTube. I AL
Surprising and original, L.E.J’s style is unique. Who would
Major donation to the Royal Albert Hall The Hans & Julia Rausing Trust has donated £5 million to the Royal Albert Hall, the largest single donation in the 145-year history of the Grade-I-listed building. This generous donation allows the Hall to progress the final phase of the £37m development programme being undertaken to further improve artists’ and front-of-house facilities. Work will commence on site in October 2016 to create two new basements to the south west of the Hall, which will provide more space and significantly improve backstage facilities. Chris Cotton, Chief Executive of the Royal Albert Hall, said the significant donation would help to generate momentum for the Hall’s remaining capital campaign fundraising efforts. ‘We are enormously grateful to Hans and Julia Rausing for their longstanding and continued support of the Hall. Along with contributions from other generous donors, this significant gift enables us to continue modernising this important Grade-I-listed building to ensure it remains at the forefront of the UK’s live entertainment industry and continues to appeal to a wide range of worldwide artists and audiences.’ In recognition of their outstanding support, the Circle seating level will be renamed ‘The Rausing Circle’. I www.royalalberthall.com
54 - info - july / august 2016
LIFESTYLE -
E XHIBITION S AND E VE NT S
Compiled by Aurore Largerie
VI C TO RI A A N D A L B ERT M USEU M , LO N D O N The V&A opens its first ever Engineering Season The V&A Engineering Season highlights the importance of engineering in our daily lives and considers engineers as the ‘unsung heroes’ of design, who play a vital and creative role in the creation of our built environment. It started with the unveiling of a large-scale garden installation fabricated by a robot. The Elytra Filament Pavilion is the outcome of four years of ground-breaking research on the integration of architecture, engineering and biomimicry principles, and explores how biological fibre systems can be transferred to architecture. The 200m² pavilion structure is inspired by lightweight construction principles found in nature and mimics the fibrous structures of the forewing shells of flying beetles known as elytra. Elytra’s components have been fabricated by a robot at the University of Stuttgart and assembled on site in the V&A’s
Elytra Filament Pavilion at the Victoria and Albert Museum
John Madejski Garden. The pavilion will grow and change its configuration over the course of the V&A Engineering Season
will feature unseen archival materials for projects such as the
in response to anonymous data on how visitors use and move
Sydney Opera House alongside recent prototypes and digital
under the canopy.
animations by Arup, the global engineering consultancy.
The pavilion is on display in the V&A’s John Madjeski Garden
Mind over Matter: Contemporary British Engineering
until the end of the season. On 22 September, visitors will be
features architectural models, drawings and digital renderings
able to see it evolve as new components are fabricated live in
from some of the world’s most cutting-edge engineering
the garden by a Kuka robot.
projects, revealing how British firms are leading the way in
The season is complemented by a series of other displays,
architecture and design. I
events and digital initiatives dedicated to global engineering design, as well as two exhibitions:
Until 6 November / Open daily from 10am to 5:45pm, until
Engineering the World: Ove Arup and the Philosophy
10pm on Fridays / Engineering the World: Ove Arup and
of Total Design is the first major retrospective of Ove Arup
the Philosophy of Total Design - £7; Elytra Filament Pavilion
(1895-1988), the most influential engineer of the 20th century.
and Mind over Matter: Contemporary British Engineering –
Focusing on Ove Arup’s philosophy of total design, this exhibition
free admission
T H E N AT I O N A L GA L L ERY, LO N D O N Painters’ Paintings: From Freud to Van Dyck Painters’ Paintings reveals the private acquisitions of Freud, Matisse, Degas, Leighton, Watts, Lawrence, Reynolds and Van Dyck. The exhibition investigates why these painters acquired other painters’ works – for artistic inspiration, to support fellow artists, as status symbols, as investments, even out of obsession. It also considers the fascinating relations painters had with the paintings, and what happened when they entered public collections. Painters’ Paintings features more than 90 works spanning over 500 years of art history, from Freud’s 2002 ‘Self Portrait: Reflection’ to Bellini’s Agony in the Garden of about 1465. Highlights include Cézanne’s ‘Three Bathers’, once owned by Matisse, Sisley’s ‘The Flood. Banks of the Seine, Bougival’, once owned by Degas, and Gainsborough’s ‘Girl with Pigs’, once owned by Reynolds. I Until 4 September / Open daily from 10am to 6pm, until 9pm on Fridays / Full price £12 Henri Matisse, Self Portrait, 1918, Oil on canvas, Paris, musée d’Orsay.
info
- july / august 2016 - 55
LIFE S T YLE - PROFILE
ENGLISH BUBBLES FOR VRANKEN-POMMERY MONOPOLE Vranken-Pommery Monopole recently announced that it will be working with an English producer to create a sparkling wine that should be on sale by 2019. INFO asked UK Chairman Nicholas Hyde why a French Champagne house is crossing the Channel to make wine
L to R: The Pommery Domaine; Paul-François Vranken, President of Vranken-Pommery Monopole; Thierry Gasco, Chef de Cave
What prompted this decision?
reasons why a growing French interest could rapidly translate
The best of English Sparkling Wine has earned a growing
into action. It’s hard to ignore the increasing recognition of quality,
reputation for quality. Champagne Pommery believes that adding
the growth potential of the category and some of the basic
the experience and resource of a great Champagne house
economics, notably that vineyard land in the South of England is
can create something very special. Now is the time to see what
a fraction of the cost of land in Champagne! Developing our own
is possible while the market for these premium wines is still
vineyards is the natural next step but we know that site selection
relatively undeveloped. Having recently made sparkling wine in
is not simple and we will proceed with some caution.
California, Pommery feels confident about the value it adds by bringing its skills to new markets.
Champagne Pommery has, in fact, long had links with England. Can you tell us about its Anglo-French heritage?
Why did you choose to work with the relatively new winery
Alexandrine Pommery, who took control of the company in 1858
Hattingley Valley?
following the death of her husband, was a great Anglophile. She
We already knew the quality of the wine-making at Hattingley
had studied in England, spoke the language and was an admirer
and had a strong sense of their wine-making philosophy. There
of Victorian England and its empire. The great Pommery Domaine
was also a rapport between Paul-François Vranken, President of
overlooking Reims was created as a tribute to the English
Vranken-Pommery Monopole, and Simon Robinson, the owner
architectural style of the day, largely Victorian gothic and in the
of Hattingley, and, in turn, between their respective winemakers.
18km of cellars below the Domaine, individual cellars are named
Hattingley is our associate in producing a Pommery wine that
after the cities of Great Britain. Most important was that, based
will be developed entirely separately from their other activities.
on her personal experience, Mme Pommery recognised the
Thierry Gasco, the Chef de Cave at Pommery, will be working with
English taste for a drier, or brut, style of wine. In 1874, this insight
the award-winning winemaker Emma Rice and her team. We
led her to create, for the London market, Pommery Brut, a step
will make wine this year, assuming that we are able to purchase
that set a new commercial direction for the Champagne industry.
grapes of appropriate quality. Our hope would be that we will have wine in the market by 2019.
What will be your biggest challenges? Securing the best quality grapes in sufficient quantities every year
Vranken Pommery is the second French Champagne house
will be at the heart of producing a great Pommery wine. This will
to come to England to make wine, after Taittinger acquired
be the biggest challenge in a country with a highly unpredictable
land near Canterbury to plant vines. Why the sudden French
climate. It is why establishing a variety of premium grape
interest in England for this?
sources is a more immediate priority than owning a vineyard. I
It only feels sudden because we and Taittinger happened to
Interview by KF www.vrankenpommery.com/en/
reveal our plans in the past few months. But there are many 56 - info - july / august 2016
@PommeryOfficial
LIFE S T YLE - E AT, DR INK , S TAY
Congratulations to Pierre Hermé, named the World’s Best Pastry Chef
P
ierre Hermé has been named the
covering
‘World’s Best Pastry Chef by the
Therefore, it is more usual for a
World’s 50 Best Restaurants Academy.
pastry chef from a restaurant to be
Receiving the award at a ceremony
awarded the title. Pierre Hermé,
in New York, the French pastry chef-
who began his apprenticeship
chocolatier, said ‘This award is also
at the age of 14 with Gaston
a great honour to all pastry chefs,
Lenôtre,
starting with my teams, the pastry
worked with some renowned
chefs preparing my recipes every
maisons, created Maison Pierre
day, around the world.’ The Academy
Hermé Paris in 1998, and now
comprises 972 gastronomy experts
has boutiques all over the world.
across 5 continents, who each submit,
He is known for his innovative use
by secret ballot, their own personal list
of flavours and unusual pairings.
of 7 restaurants from the 27 regions,
I www.pierreherme.com
the
and
entire
planet.
subsequently
The London Jam Factory launches the Jam Bar
A
ward-winning jam manufacturer, the London Jam Factory,
recently raised £130,000 through the crowdfunding platform
has launched the Jam Bar – an innovative concept offering
Crowdcube. I www.thelondonjamfactory.com
more than 20 different colourful jam miniatures for hotels, to help differentiate their breakfast offer and make their guests feel more at home. The London Jam Factory sells 90 varieties of its fruit-intense, lower sugar jam online in the UK and abroad as well as to delicatessens, coffee shops, bakeries and specialist retailers, but the company’s founder Pierre-Louis Phelipot has set his sights on expanding in new markets, particularly the hotel segment. To fund this expansion with larger production facilities and more staff, the company
The Savannah Bar & Restaurant opens at TheWesley
N
ewly opened at TheWesley in Euston, London, The Savannah is an ethical and eco-friendly bar & restaurant offering a fusion
of European, African and Asian cuisine, alongside some classic favourites. In line with TheWesley’s ethical ethos, the food is sourced from sustainable suppliers, artisans and family-run companies. The restaurant has its own separate entrance and is set over two floors flooded with natural light. Its décor, inspired by the savannah, includes murals and hand-crafted pieces by local artists as well as reclaimed materials, and the restaurant will continue to cultivate emerging creativity by projecting the work of up-and-coming animators, film makers and artists on its walls. I www.thesavannah.co.uk
info
- july / august 2016 - 57
All aboard La Table Orient Express with Potel et Chabot!
S
topping in Paris and Bordeaux for a few exclusive dinners up to 30 July, the travelling restaurant La Table Orient Express is offering its passengers a unique culinary experience, organised by Potel et Chabot. Chef Yannick Alléno is returning to the kitchens of this iconic train for the second time, and together with Pastry Chef Yann Couvreur, has created menus inspired by the history and romance of the Orient Express, whose story began in 1883. I www.poteletchabot.com/en www.orient-express.com/en/booking
CHE E SE & WINE PR E S S
GOAT’S CH EESE FO R SUM M ER by La Cave à Fromage Cooking and eating during hot summer days
Naples, explains how to cook pasta with
can prove challenging, as our cravings tend to
Parmesan. Using cheese
be very different and very much linked to the
cooking often adds a rich and subtle touch to
weather and outside temperatures.
a dish. Over warm summer days, I can safely
in modern day
Some of us may have more time to
recommend beautiful fresh, young and slightly
cook, and be on the search for ideas and
acidic goat cheese for endless combinations
recipes. Cheese has featured in recipes for
in salads, generous when grilled over fresh
centuries. One of the first recorded recipes
seasonal vegetables, even quickly baked to
was published in the early 14th century in what
accompany sumptuous breads.
is considered to be the oldest cookery book,
Each Mediterranean country will provide a
Liber de coquina, now kept in the Bibliothèque
range of fresh goat cheese – all delicious when
Nationale de Paris. In it, the anonymous
artisan made. I
author, who is thought to originate from
by Eric Charriaux
E: eric@cheese.biz T: +44 (0)845 108 8222 W: www.la-cave.co.uk
TO BUY YOUR CHEESE, VISIT LA CAVE A FROMAGE SHOPS 24-25 Cromwell Place, 148-150 Portobello Road, Kensington, London SW7 2LD Notting Hill, London W11 2DZ
34-35 Western Road, Hove, Brighton BN3 1AF
SU N, SE A AN D WI N E! by Wine Story When the blue sky finally turns up, we start thinking about the south, sun and the seaside accompanied by rosé wines, dry whites and fruity reds for barbecues. At Wine Story, we spend time over spring and summer visiting the vineyards to keep in touch with our suppliers and find new ones. After meeting many wine-makers and tasting more than 500 different wines during a three-day trip in the Languedoc region organised by La Maison de la Région Languedoc-Roussillon-Midi-Pyrénées, we have shortlisted a dozen vineyards and will be tasting their wines again at La Maison in London. You will read in future INFOs about the Languedoc wines from well-known AOPs such as Minervois as well as new ones like Les Terrasses du Larzac. I was also recently in Spain where I visited the Vinya Ivo vineyard in Cadaques, Catalonia. Reflecting the artistic heritage of the Alta Emporda region, birthplace of Salvador Dali, Picasso and Miro, Vinya Ivo’s wine labels are created by local artists. The Cuvee Pirata Especial (Especial meaning a blend of few vintages in Spanish viticulture) is the perfect match for grilled lamb cutlets, and the Me Gustas Tu Tempranillo would be ideal with a cheese and cured meat board on a beach picnic. Bonnes vacances! I by Thibault Lavergne TO ORDER MICHELIN-STYLE WINES TO DRINK AT HOME, CONTACT: E: thibault@winestory.co.uk T: +44 (0)7921 770 691 W: www.winestory.co.uk 58 - info - july / august 2016
LIFE S T YLE - PROFILE
LE PETIT BALLON: W I N E T O Y O U R TA S T E O N O R D E R
Martin Ohanessian, President of Le Petit Ballon, gives the run down on their wine subscription start-up, that cuts the guff and demystifies the jargon. With already 40,000 subscribers in France, it is now seeking to introduce the British to an enjoyable - and personal - wine experience Why did you start your own wine subscription company?
of wine goes with what type of dish.
I’ve always loved food and wine, but didn’t know much about it. I took some wine-tasting classes and workshops, but quickly got
Having established yourselves in France and Belgium, how
bored, they were too expensive or too difficult!
did you break into the UK market? Our 40,000 French subscribers helped us develop the brand
How did you come to work with your master sommelier Jean-
through word of mouth, telling people about us here in the UK!
Michel Deluc and sales director Matthieu Lesne?
We’ve been here for six months and have 500 subscribers –
Matthieu and I met at business school and got along very well,
and rising – not only in London but also around the rest of the
so it was very natural for us to work together. I was looking for
UK. The first of our monthly aperitifs was held on 19 April and it
a wine expert and actually met with several,
really exceeded our expectations; the reaction was great. I think
but none really embodied the spirit of
people enjoy the approachability of Le Petit Ballon. It’s something
Le Petit Ballon - the friendliness or accessibility. Until I met
Jean-Michel, Matthieu and I really enjoy doing – meeting our subscribers in person and getting to know what they want.
Jean-Michel. We really hit it off and he really does
Have you noticed any national characteristics with
embody the spirit of our
regard to wine preferences?
company.
all
I think in France, as there’s a large number of
about enjoyment - that’s
domaines and châteaux, French people tend to stick
Wine
is
something he is always
to French wine, as it’s good quality and convenient.
quick to remind us. He was
Obviously there are great domains appearing all over
working at the Ritz in Paris and really wanted to share his love of wine with everybody!
the world, so people are now starting to explore things from further afield. In the UK, for example, people are now realising you don’t have to be an expert to really enjoy wine. However, I’d say the main difference is that UK wine
What does Le Petit Ballon do
drinkers like to explore new things – they jump straight in, which is
differently to other wine subscription
great for us, as we can really show them something they’ve never
companies?
tried before.
We give people the chance to try wines that they wouldn’t have tried before, that you can’t get from the typical supermarket. Our
Do you service all subscriptions from France?
tasting notes and the Gazette, our magazine help people learn
Our headquarters are based in Paris, where we also have a shop.
about wine at their own pace, in a language they can understand!
We found a partner here in the UK for our distribution, meaning
More and more people are telling us they’re getting into wine and
subscribers in the UK get the same high quality service as those in
starting to really understand what kind of wine they like, so in that
France and Belgium.
sense yes, I think we are changing how people consume wine. Where do you go from here? How does your wine profile system work?
The sky’s the limit! We want to transform the way people consume
Our wines are categorised into ‘wine families’ based on their
wine, not just through providing hidden gems and lesser known
character, for example, if a wine is very robust, it goes into the
appellations to consumers, but also through helping them
‘robust’ wine family, with other similar wines. Each wine family
understand wine and understanding exactly what they enjoy
is suitable for different occasions or moods depending on its
drinking. More than just a business – this is an opportunity to create
characteristics. Master Sommelier Jean-Michel Deluc also suggests
a whole new way of thinking about wine! I Interview by KF
dishes you can pair with each wine, so you know exactly what type
www.petitballon.com/uk/
info
- july / august 2016 - 59
This column brings inspiring travel and destination stories from our members in the industry. This time, Exclusif Voyages immerses us in ...
By EXCLUSIF VOYAGES
THE COLOUR & RHYTHM OF J
BRAZIL
ust like its traditional Caïpirinha, Brazil has a taste of tangy
Palace or at the popular bars of Lapa where the furious rhythm
sugar and exuberance. Following the perpetual movement
of samba and Brazilian pop come to the street. The beat of this
of Rio de Janeiro, our trip is filled with varied discoveries and
joyful music compels us to discover more... the multicoloured
with the urban and tropical jungle for background. Through the
features of Pelourinho, the historical suburb of Salvador de
clouds, Chris the Redeemer raises his
Bahia. We head back to the Sao Joaquim
hands to heaven whilst at the summit of
markets where the ‘Baianas’ in their
the Sugar Loaf parades the incredible
traditional costumes carry their sacred
panorama of the Guanabara Bay.
herbs whilst a Capoeira demonstration
We quickly leave the aesthetically
– a mix between a martial art and a
perfect beaches to go for a walk in Santa
tribal dance – is improvised.
Teresa, home to many hidden artistic
Under the porch of the Baroque
workshops and rehabilitation projects.
churches,
One of these projects, called Morrinho,
symbolising good luck, move with the
is a unique piece created by the youth
wind.
colourful
bracelets,
of the Pereira da Silva community. It
We swap the African and colonial
represents a modern vision of a favela
soul of Brazil for the little village of
through the use of recycled materials
Trancoso on the edge of the Atlantic. In
and was declared a contemporary work
this village, Wilbert Das, Diesel’s former
of art at the 2007 Venice Biennale.
artistic
director,
has
transformed
Above Santa Teresa, the tropical jungle Tijuca covers the city
fishermen’s sheds into a simply crafted little haven facing the
in emerald tones. When it is time for a drink, the old tram takes
Quadrado. Under the wild vegetation that borders the beach,
us to Copacabana, filled with an enthusiast crowd of people of all
converted in a cocktail bar, we secretly enjoy the 1960s’
colours. We have a drink at the elegant terrace of Copacabana
bohemian atmosphere of the ‘Trancoso hippie’. I
For more information E: info@exclusifvoyages.co.uk
60 - info - july / august 2016
T: +44 (0) 7931 099 269
W: www.exclusifvoyages.co.uk
LIFE S T YLE - BOOK S
THESE BOOKS, RECENTLY PUBLISHED IN ENGLISH, WERE SELECTED BY THE FRENCH INSTITUTE
CONSTELLATION
ABOUT MY MOTHER
by Adrien
by Tahar
Bosc Published by Serpent’s Tail Translated by Willard Wood Original title: Constellation
Ben Jelloun
Published by Telegram Translated by Ros
(Saqi imprint) Schwartz &
Lulu Norman Original title: Sur ma mère
On 27 October 1949, Air France’s Lockheed Constellation
Since she’s been ill, Lalla Fatma has become a frail little thing
F-BAZN left Paris Orly Airport for New York. Hours later, it
with a faltering memory. As her mind becomes more muddled,
disappeared on approach to a scheduled stopover in the
Fatma starts to believe that she is in Fez in 1944 – where she
Azores. It was found on a mountainside five miles from its
grew up – not in Tangier in 2000, where the story begins. During
intended landing zone. There were no survivors.
his visits, Tahar, her son, patiently sits by her side and listens
Constellation tells the true stories of the 48 passengers
as she summons members of her family who are long dead
who died, their place in the world and their hopes and dreams
and quietly yearns for her first and only love. Guided by these
for the life awaiting them on the other side of the Atlantic; of
fragments, Tahar vividly reimagines his mother’s life in post-war
a heavyweight boxer flying to New York for a world title fight;
Morocco: married while still playing with dolls; widowed too
of a 30-year-old virtuoso violinist; of five Basque shepherds
young; and for whom resignation was the only way out.
emigrating to America; and of the whole constellation of untold stories that tragedy scatters around it like so much debris. Bosc’s magnetic, moving novel is a memorial to an air
Written by award-winning Moroccan novelist Tahar Ben Jelloun, About My Mother explores the sacred bond that exists between a mother and her child. I
disaster that happened half a century ago, and a profound exploration of the nature of collective tragedy. I
PEPLUM ALPHA by Barroux
& Bessora Published by Barrington Stokes Translated by Sarah Ardizzon Original title: Abidjan – Gare du Nord
by Blutch Published by New
York Review Books Gauvin Original title: Péplum Translated by Edward
The man known as Blutch is one of the giants of contemporary comics, and Peplum may be his masterpiece: a grand, strange Alpha is a graphic novel about a refugee’s journey from Africa to
dream of ancient Rome. At the edge of the empire, a gang of
Europe. It counters the dehumanising discourse around refugees
bandits discovers the body of a beautiful woman in a cave;
that shows no signs of letting up. With pared-back text and
she is encased in ice but may still be alive. One of the bandits,
powerful imagery, it has serious impact and is a perfect example
bearing a stolen name and with the frozen maiden in tow, makes
of the power of graphic novels to speak to a wide readership of
his way toward Rome – seeking power, or maybe just survival,
adults and teenagers. With sensibility, Barroux shows the horrors
as the world unravels. Thrilling and hallucinatory, vast in scope
of life as a refugee, his drawings providing a moving insight into
yet unnervingly intimate, Peplum weaves together threads from
this kind of journey.
Shakespeare and the Satyricon along with Blutch’s own distinctive
Alpha is emblematic of the refugee crisis today – he is one of
vision. His hypnotic storytelling and stark, gorgeous art pull us
millions on the move, some fleeing war and others in desperate
into one of the great works of graphic literature, translated into
hope of a better life for their families. I
English for the first time. I
info
- july / august 2016 - 61
M
ay and June have been very busy
heart of business practice in the UK, and
months at the Chamber, as these
by providing these platforms, the Chamber
In line with our strategies set out at
pages will attest. Two of our most
has ensured that our members can
the AGM, we have continued to focus
important annual events – the AGM and
engage, discuss and learn from each other.
on supporting start-ups with various
the Gala Dinner – took place, and we have
Overshadowing everything has been
initiatives including the Start-up Lab pitch
held numerous others – an Ambassador’s
the EU referendum, and now that the
competition, the first of which took place
Brief, an Economic Update, a Breakfast
decision to Brexit has been made, the
on 17 June, and will be reported on in the
with Michael Borrell, Senior VP Europe and
Chamber will be reacting to provide
next issue, and the planning of our next
Central Asia, Total, two Rendez-vous Chez
support and guidance for our members.
Franco-British conference under the ‘Small
and several Patron events.
We have convened an Extraordinary Board
meets Big’ banner. Out of a brainstorming
Our forums and clubs have also been
Meeting to discuss the Chamber’s strategy
meeting involving both big and small
in full swing, holding sessions ranging
in the new context and the next issue of
companies came the title for it – ‘Disrupt or
from ‘Winning hearts and minds around
INFO will be focusing on the impact of Brexit
Be Disrupted’. It promises to be an inspiring
climate change’ to funding and liquidity for
on business. The Chamber has confronted
day and we will keep you informed as the
start-up and SME growth requirements,
crises before, and we will, as always, be
programme develops.
engagement and retention as well as
looking to turn threats into opportunities.
20 Active members joined our ranks.
By the time this issue of INFO is
digital transformation, which was the
On the membership front, we have
published, thoughts will be turning to
topic tackled at the second meeting of
had a spate of new members, and less
summer holidays and for some, activities
our Women’s Business Network. These
attritions, so our number has topped 600.
winding down for a well-deserved mid-year
are all very current issues that go to the
Recently seven Corporate members and
break. May I wish you all a good one! I FG
62 - info - july / august 2016
CHAMBE R HAPPE NINGS - SHORTIE S
Look out for our new Annual Report
O
ur Annual Report 2015 has been published, and should have landed on the desks of all main representatives. Detailing the Chamber’s
activities and results for last year. the report provides many interesting facts and figures, an overview of all our services with testimonials from members and clients, as well as the outlook for 2016. It showcases what we have been doing for the benefit of our members and in particular, the new initiatives in line with our strategy: supporting start-up development and digital transformation, encouraging greater access between categories of members especially through ‘Small meets Big’ events, and further endorsing Corporate Social Responsibility. I
Welcome to 9 new Advisory Councillors
T
he Chamber has welcomed nine new Advisory Councillors: Florence Njamfa, Global Creative and Brand Communication Director,Orange Brand Services Limited; Jules Minvielle, Founder & CEO, Mozoo; Fabrice Bernhard, Cofounder & Chief Technology
Officer, Theodo; Tanuja Randery, Zone President UK & Ireland, Schneider Electric; Louise Tingström, Managing Partner, Chandos Communications; Catherine Palmer, Legal Director, Joseph; Aino-Leena Grapin, CEO, Paddle8; Sylvain Ercoli, General Manager, Bulgari Hotel and Residences, London; Pierre-Louis Phelipot, Founder, The London Jam Factory Ltd. The Advisory Council consists of up to 66 members – including the Directors of the Board – and hosts three sessions a year with a view to advising the management of the Chamber on strategic decisions. The role of the Advisory Council is to increase the effectiveness of the Chamber by actively participating in and leading its activities as well as recruiting new members. I
Hats off to... PHILIPPE HENRY has recently been appointed Global Head of a newly set up Corporate, Financials and Multinationals Banking unit (CFMB) at HSBC. This change occurs as HSBC has restructured its investment bank. Philippe had been Head of Global Banking for all Continental Europe and Africa since March 2012. He will remain based in London. www.hsbc.com
New main representative ANTHONY SAKROUGE is the new main representative for Russell Cooke, replacing Geraldine Fabre, who has moved to Sherrards Solicitors as Partner and Head of the French Desk. Anthony is the Head of the Employment and Immigration Department at Russell-Cooke LLP. The team has been recognised in the legal directories for its work advising organisations, many of which are based abroad, in both areas. www.russell-cooke.co.uk
info
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CHAMBE R HAPPE NINGS - NE W ME MBE R S
7 CORPORATE MEMBERS CMB WEALTH MANAGEMENT
MICROSOFT ACCELERATOR LONDON
Wealth management and
Scale-up tech businesses via Series A
offshore private banking
Represented by by Kevin Monserrat,
Represented by Julian Soper, Managing Director
Social Media & Marketing Manager
www.cmbwm.co.uk
www.microsoftventures.com
CMB Wealth Management is the London subsidiary
Microsoft Accelerator London is an intensive four-month
of Compagnie Monégasque de Banque, a leading
programme
private bank in Monaco, owned by Mediobanca.
technologies to the global market. It works with big corporations
The company specialises in combining private client
as well as emerging tech companies to help bring crucial
services with the institutional investment expertise of
innovation for business growth in a disruptive environment.
that
enables
entrepreneurs
to
bring
new
the Mediobanca Group to meet the financial needs of wealthy clients: portfolio management, mortgage arranging and offshore banking. RYDER CUP EUROPE - PGA EUROPEAN TOUR Organisation of professional golf events EDWIN COE LLP
Represented by Tim Shaw, Group Sales Director
Law firm
www.europeantour.com
Represented by Alexandre Terrasse,
Ryder Cup Europe owns the rights of The Ryder Cup when the
Head of French Inward Investment
competition is held in Europe and is responsible for all matters
www.edwincoe.com
concerning The European Team and the staging of the event
Edwin Coe is a high-quality, commercial law firm
which will be hosted in France for the first time ever in 2018 at
providing tailored and integrated legal services
Le Golf National near Versailles, Paris. Ryder Cup Europe LLP also
across a wide range of practice areas to both UK and
works closely with the French Golf Federation in developing the
international companies and private clients.
game in France and the wider promotion of golf generally.
The firm is ranked at 109 in the latest edition of The Lawyer ‘UK-200’ law firms and has a dedicated French Inward Investment team. WADDINGTON CUSTOT GALLERIES LTD DEVIALET
Art gallery - postwar contemporary
High end wireless speakers
& modern art
& amplifiers
Represented by Jean-François Cécillon, Managing Director
Represented by Joachim Fritsch,
(Acting)
General Manager UK & Ireland
www.waddingtoncustot.com
www.devialet.com
Waddington Custot Galleries, based in Mayfair, specialise
From amplifiers for audiophiles (Expert), awarded best
contemporary and modern works of art: painting, sculpture
sound in the world, to all-in-one wireless speakers
and works on paper. They have very substantial inventory from
(Phantom), Devialet offers a clear, pure sound with
Albers, Chamberlain, Matisse, Picabia, Picasso, Rauschenberg,
no distortion. Launched in Harrods a year ago, now in
Stella, Tapies, Wesley, etc. They represent artists including Peter
Westfield and Apple, Devialet aims to become world
Blake, Ian Davenport, Robert Indiana, Barry Flanagan estate, Jean
leader in audio in the coming years.
Dubuffet and Patrick Heron estates.
in
LONDON STOCK EXCHANGE GROUP Building stable, trusted markets since 1801 Represented by Serge Harry, Member of the Executive Committee www.lseg.com London Stock Exchange Group is a diversified international market infrastructure business. It operates a broad range of international equity, bond and derivatives markets. The Group, a global leader in indexing and analytic solutions with FTSE Russell, offers thousands of indexes, benchmarking global markets. LSEG is also a leading developer of high performance trading platforms, capital markets software and testing capabilities for customers around the world, through MillenniumIT, GATElab and ExactPro. 64 - info - july / august 2016
CHAMBE R HAPPE NINGS - NE W ME MBE R S
20 ACTIVE MEMBERS Adaptive Channel - Software and content provider in the
Groupe Mulliez-Flory - Workwear & corporate clothing
travel market
consulting
adaptive-channel.com
www.mulliez-flory.fr
Represented by David Fairand, CEO
Represented by Nicolas Streichenberger, Country Manager
Anglicity Ltd - French to English digital marketing:
Headley - Printer manufacturer
copywriting, editing/transcreation, translation, blogging
www.headley.co.uk
www.anglicity.com
Represented by Karine Mazuy, Business Development
Represented by Karen Andrews, Director
Manager
Breguet - Swatch Group UK - Swiss luxury watch brand
Hold-On Productions - Mega rear advertising on buses
founded in 1775
across Europe
www.breguet.com
www.holdonproductions.co.uk
Represented by Amandine Hammari, Marketing Executive
Represented by Arnaud Cassat, EMEA Sales Manager
Children of the Mekong - Supports under-privileged
Internshipmapper - Specialist in finding internship
children in South-east Asia through education and child
opportunities in the UK for European students
sponsorships
www.internshipmapper.co.uk
www.childrenofthemekong.org
Represented by Maud Grenier, CEO & Founder
Represented by Eugénie Prouvost Munakarmi, Chief operating officer
Le Petit Ballon - Wine subscription www.lepetitballon.co.uk
Clareville Communications - Public relations, digital and
Represented by Pauline Satiat, Country Manager UK
social media experts www.clareville.co.uk
Lepetitjournal.com London - Information & Online
Represented by John Starr, Managing Director
Newspaper for French community www.lepetitjournal.com/londres
Consulting Quest - Consulting platform serving both
Represented by Laurent Colin, Director
clients and providers www.consultingquest.com
Made.com - Furniture design & e-commerce retail
Represented by Elodie Bocquet, Key account Manager
www.made.com Represented by Julien Callède, COO and Co-Founder
eOffice - Design-led coworking space in central London www.eoffice.net
Orchid Creation - Design of marketing presentation
Represented by Pier Paolo Mucelli, Founder & CEO
content
F-Initiatives - Consulting, innovation financing, R&D tax
Represented by Tafika Ramiaramanana, Account Manager
www.orchidcreation.com reliefs www.f-initiatives.uk
Skylar Group - Galaxis Capital LLP - Financial group
Represented by Vincent Fournié, Managing Director
providing asset management, wealth management, investment services and corporate finance advisory across
GB and Smith - Provider of self-service security management
Europe and Africa
and audit solutions
www.skylar.eu
www.gbandsmith.com
Represented by Grégoire Schöller, Director
Represented by Jonathan Brochet, UK Sales Manager The Universal Matrix LLP - Acting CEO / interim Grenoble IAE - Business school
management / restructuring & turnaround
www.iae-grenoble.fr
Represented by Jean-François Cécillon, Founder & Chairman
Represented by Emily Rankin, Language and International Work Placement Coordinator
info
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ECONOMIC UPDATE -
18 May
Breakfast With...
Michael Borrell, Senior Vice-President Europe & Central Asia, Total Over breakfast at The Berkeley, Michael Borrell gave a clear and fascinating account of the oil and gas industry in a global and UK context, setting out the challenges and opportunities for the energy giant in a period of change Shelf (UKCS), which has four main producing areas: Southern North Sea; Central North Sea; Northern North Sea; and West of Shetland. Out of 375,000 jobs associated with the offshore industry, 65,000 have been lost since 2014 as a result of low prices. In 2010/11, taxes from the oil & gas industry were in the region of £4-6 billion, representing 16.5% of the total tax take, but this was down to £100 million in 2015. Past investment in the North Sea has been huge – £590 billion. But at 50 years old, it is a very mature basin, and one of the big issues facing the industry going forward is decommissioning infrastructure at the end of field life at an estimated cost of £76 billion. North Sea infrastructure is highly interconnected with cost-sharing benefits, so the risk is, if the oil price stays low for a few years, and platforms start coming off stream or being abandoned, the remaining ones will be left to bear a higher proportion of the costs. Thus, the UK government is encouraging the sharing of infrastructure and co-operation between oil companies. What are the challenges?
From 2.7 million barrels of oil a day, the UK now produces
Low oil and gas prices are creating difficult conditions for oil and
800,000, which is only half of its 1.5 million barrel consumption.
gas companies like Total to operate in. Given that this is such a
Coincidentally it also produces only half the gas it consumes. UK
cyclical business, the situation is not unprecedented, but with
operators and assets are consequently facing low returns and
oil at well over $100 a barrel for a sustained period, a certain
negative cash flows, particularly in almost half of the oil fields
amount of complacency had crept into the industry, volumes
that have operating costs above $30 a barrel.
were chased and money invested based on assumptions of continued buoyancy. Since 2014, the price has collapsed, getting to as low as $30 a barrel at the end of 2015. In a world that consumes roughly 95 million barrels of oil a day, what has changed? In short, US shale oil production has seen a huge increase and this has been coupled with a decrease in demand, mostly driven by the Chinese economy. Geopolitics will always play a role, but the core fundamental in the price is the supply/ demand balance.
Total is the largest solar power provider in the world, and it is aiming to become a leader in biofuels... Total has the ambition to become ‘the responsible energy major’ Total’s three large offshore assets are Northern North Sea, which is in late life, Central Graben in mid life and West of Shetland, which has just started production. The latter,
So what happens in the future?
Laggan-Tomore, entails two fields 140km west of the Shetlands,
This is a long-term industry by nature, and production will
drilling 5km down in 600m water. The production facilities are
continue from projects started in previous years, but lower
all located on the sea bed and connected to the dedicated
prices will spur demand and stop investments coming up, so at
Shetland Gas Plant facility onshore by two pipelines. It is a harsh
some point the price will recover. The question is timing.
environment in which to operate, and only possible thanks to
Gas is the other part of the equation, and is particularly
innovative subsea technology that is being used for the first
important for the UK and Total’s business. The gas price is likely
time on the UKCS. For the older fields, to make the most of
to stay low for longer than oil because of the production of
existing infrastructure and extend production, Total has tied in
shale gas in the US, less of a link to oil prices and lower demand.
surrounding fields and additional reservoirs. Production is now
But gas is part of the solution for climate change, generating
predominantly gas, with 50% coming from these satellite fields.
half the CO2 of coal, which is why Total’s strategy for its energy mix has been to go from a third gas, to half today and two thirds
What is Total’s response to these challenges?
in 15 years’ time.
When you can’t control the price, you control the things you
The UK’s oil and gas is extracted from the UK Continental 66 - info - july / august 2016
can and do it really well. The first one is safety – a core value
and a reflection of operational excellence, which makes good
Transitioning to a lower carbon energy mix
business sense. The second is delivery of projects on budget
So how does a leading producer of oil and gas address the
and on time. There is room for improvement on this score,
climate change issue? Total has adapted its strategy to fit the
as the Laggan-Tormore project in the Shetlands showed, and
International Energy Agency scenario based on the 2-degree
performance and production efficiencies are being targeted.
Celsius target in 2035. With the aim of supplying a responsible
The third is costs – managing the cost base so that projects
energy mix with steadily decreasing carbon intensity, it
are economic. When oil prices were high between 2000 and
has placed a high priority on gas as the cleanest fossil fuel.
2014, costs skyrocketed, affecting rates of return, but significant
Renewables are forming an increasing part of its portfolio too.
reductions were made in 2015 with more aggressive targets for
Total is the largest solar power provider in the world, and it is
this year and next. Finally, cash has to be managed to allow for
aiming to become a leader in biofuels. It is also expanding its
continued development and this includes targeted divestments
interests in energy storage, which is essential for renewables.
of non-core assets like mature infrastructure.
An energy major it certainly is, but Total has the ambition to become ‘the responsible energy major’.I KF
PATRON & COR POR ATE E VE NT -
11 May
Ambassador’s Brief: focus on Ireland
T
he second Ambassador’s Brief of the year was unusual in that the Ambassador giving the briefing was not HE Ms Sylvie Bermann, French Ambassador to the UK, but HE Mr Jean-Pierre Thébault, French Ambassador to Ireland. The Ambassador had especially
made the trip to London, accompanied by three French Foreign Trade Advisors – Olivier Melennec, Managing Director, CACI Ireland (Crédit Agricole); Jean-Manuel Lejeune, Business Operations Manager, RPS Group; and David Jullo, Head of EMEA Mobile Strategy, Google Dublin HQ – in order to present what they consider to be the great potential of the Irish economy and opportunities for French businesses. The discussion revolved around the revival of the ‘Celtic Tiger’, which is the fastest growing economy in Europe, with 7.8% growth in 2015, and a projected 2.9% average annual growth rate over the next four years, according to the IMF. The most interesting sectors for investment and business are Energy, particularly renewables in the wake of COP21, Housing & Construction, Health and Infrastructure. The latter three sectors have seen little investment or activity for five years, and are thus ripe for development and revamping, particularly as Ireland has Europe’s youngest population and growing needs. The Irish government plans to invest €27bn in infrastructure over the next five years. While the numbers are impressive, macroeconomics don’t tell the whole story. Ireland’s population may be relatively small at 4.5 million, but it is a market that is greater than the sum of its parts because it is an easy place to do business, a hub for multinational companies’ EMEA HQs, and often a reference market for English-speaking countries. With the UK already doing €1 billion worth of business a week with Ireland, and Germany double that of France, French companies won’t find themselves alone. Also highlighted were the skills, pro-business environment and world-class expertise, particularly in insurance, reinsurance and fintech, that make Ireland so attractive as a European hub. Its ITC sector is especially dynamic, representing 4.4% of GDP currently, and projected to be 13% by 2020. Indeed, 10 out of the world’s top 100 tech companies are in Ireland, and US companies have an increasingly strong presence, with companies such as Google and Facebook employing thousands. Ireland is also the first capital in Europe for investing per capita. For all the potential opportunities, there are some risks and considerations: a bit of political uncertainty; a highly competitive market because of its openness to successful economies; the need to find local partners for the best chance of success and upward pressure on wages. Above all, it is a market that needs to be closely watched to see where the opportunities lie. HE Mr Jean-Pierre Thébault, French Ambassador to Ireland speaking at the briefing
After the briefing, Peter Alfandary, Senior Vice-President of the French Chamber chaired a debate and Q&A session. I KF
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R E NDE Z -VOUS CHE Z -
RENDEZ-VOUS CHEZ...
28 April
Big Fernand B
ig Fernand hosted 35 Chamber members for a convivial evening of networking in their refined
brasserie. Mathieu Durand, ‘Hamburgé’ Ambassador to the UK at Big Fernand, and looking very French, welcomed guests with mini homemade gourmet burgers. The winner of the lucky draw received a dinner for two at Big Fernand. Big Fernand opened in London in 2015. I AL
Mathieu Durand introduces the French-styled ‘hamburgés’ to French chamber members
RENDEZ-VOUS CHEZ...
The Dentist Gallery
C
hamber members had the rare opportunity to enter what reviewers are calling a ‘unique and relaxing place’ for an exclusive photography exhibition of artists Philip Volkers, Toby Tremlett and the Chamber’s own MD, Florence Gomez.
The Dentist Gallery, brainchild of Dr Jérôme Sebah, is the first of its kind – a private dental surgery and art gallery space, and this
Rendez-vous Chez provided the opportunity to showcase its unusual charms, along with the varied and rich photographs on display. Around 40 guests enjoyed networking in a relaxed and convivial atmosphere with the artists, possibly mindful of what they were eating, given the setting. But who wouldn’t want to visit this dentist? Our thanks to Dr Jérôme Sebah for making the event possible. I AL
Dr Jérôme Sebah talking to guests
68 - info - july / august 2016
Admiring the exhibition
ANNUAL GE NE R AL ME E TING -
6 June
ACHIEVEMENTS AND AMBITIONS In time-honoured fashion, 120 members convened for the 81st AGM of the French Chamber of Great Britain to review 2015’s activities and achievements, as well as find out about the Chamber’s future ambitions
F
rench Chamber President Estelle Brachlianoff opened the
the Auditor’s Report. Following that, all the chairs of the Forums
meeting and chaired the proceedings, starting by thanking
and Clubs came up to give presentations on their respective
Reed Smith, and in particular Senior Vice President Peter
achievements and activities over the year and outlook for 2016.
Alfandary for hosting the AGM and cocktail reception at the Reed Smith offices, with their magnificent views over London, for the seventh year running. With the order of business out of the way, she introduced the French Ambassador, HE Ms Sylvie Bermann, who addressed the meeting. The Ambassador spoke about the relationship between Great Britain and France, describing the dialogue and cooperation between the two countries as constant and strong, especially in the realms of defence and climate change, and noting the dynamism bilateral economic and trade relations. ‘The French Chamber has played a key role in developing this relationship on the ground,’ she said, paying tribute to the tireless work of the Chamber’s President Estelle Brachlianoff and Managing Director Florence Gomez. She also thanked the Chamber for supporting French start-ups, which are high on the agenda of the French government, through various events, such as the Franco-British Digital Conference and initiatives such as French Tech Hub. These and other activities, she said, ‘prove that the French Chamber is an essential partner
L to R: Stephen Burgin, HE Ms Sylvie Bermann, Estelle Brachlianoff, Peter Alfandary
of our economic diplomacy. We are privileged to enjoy a great relationship with you.’ The Ambassador ended with a few words
Formal proceedings continued with the votes, the renewal of
about the impending EU referendum, and the substantial impact a
Board Directors, namely Ian Fisher, Chief Country Officer and Head
Brexit vote might have.
of Coverage & Investment, Societe Generale; Brian Gosschalk,
This was followed by the Managing Director Florence Gomez’s
Head of President’s office, Ipsos MORI; and Christian Porta,
operational report, providing a visual overview of the Chamber’s
Chairman & CEO, Pernod Ricard EMEA, and the re-election of
activities and key figures in 2015, a year which saw the Chamber’s
Estelle Brachlianoff, Senior Executive Vice President UK & Ireland,
turnover reach £2.14m. She also set the course for the Chamber’s
Veolia, and Stephen Burgin, Vice-President Europe, GE Power
strategic direction: boosting start-up development, focusing on
Strategic Accounts, as President and Deputy President.
digital transformation, endorsing CSR and further developing
Brian Gosschalk then reported on the EU Referendum survey
links with art and culture. Nicolas Ribollet, Treasurer and Director
of 667 member companies of seven foreign Chambers, including
of the Board then presented the Financial Report for 2015 and
the French Chamber, in which 82% of respondents from the French Chamber indicated that Brexit would have a negative impact on their businesses and 64% indicated that future investment decisions would be negatively affected. Estelle Brachlianoff then thanked all those involved with the Chamber for their motivation and hard work. But before closing the meeting, she gave a special tribute to Peter Alfandary for his 30 years of service to the Chamber’s Board, and a surprise video was played showing Peter at the Chamber over the years, to which he responded with an uncharacteristic loss of words and deep blushes. Members then convened for a networking reception, complete with a glorious sunset over the city skyline. I KF
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A positive performance The chance to hear the renowned Jacques Attali speak and enjoy a sumptuous evening of food, wine and entertainment, brought 430 guests together for the Chamber’s annual gala dinner at the Landmark London Hotel
I
n true French style, the evening began with guests mingling at a Champagne reception in the beautiful glass-roofed atrium, before they repaired to the ballroom, which was resplendent in pink peonies, for dinner. Chamber President Estelle Brachlianoff welcomed the gathering and thanked the sponsors and partners who had made the evening possible – gold sponsors Ardian,
HSBC, PwC and Ceolia, silver sponsors Accor Hotels, Colas Rail, EDF Energy and PSA Groupe, wine and Champagne partners Perrier Jouët Champagne, Le Conseil des Vins de Saint-Emillion, Les Vins de Graves and Les Vins de Pessac Léognan, Chanel, which had presented each guest with a bottle of perfume, and Profirst which had dressed the room. ‘Tonight we should celebrate a vibrant and dynamic Chamber which is buzzing - bringing real value to businesses, whatever their size or sector,’ she said. ‘The reality is, it’s all about you!’ Jacques Attali’s organisation Positive Planet was the beneficiary of the evening’s fundraising, which centred around a silent auction of 23 lots, and a live auction of the top two, all generously donated by Chamber member companies. In total, £23,485 was raised, and a cheque presented to Jacques Attali at the end. It was a manifestation of the ‘selfish altruism’ that he had spoken about, as the money will go towards enlarging a project launched by Positive Plante in Madagascar to improve access to health for vulnerable populations through the creation of mutual health organisations and a technical support platform. Amidst the surfeit and glamour of the occasion, it was a timely reminder of some of the hardships that hamper people’s economic and social development around the world. Giving it more immediacy, Madagascan musician, composer and songwriter Nogabe Randriaharimalala’s heartfelt performance brought his homeland’s rhythm and soul right into the room.
1
2
3
70 - info - july / august 2016
4 6
5
7
It is in our selfish interest to help people develop ... I believe in selfish altruism
G OLD SP ONSORS
Current affairs were also ever present, remarked upon by HE Ms Sylvie Bermann, the French Ambassador to the UK, in her address, and shaping much of Jacques Attali’s speech. The Ambassador focused on much that was positive, particularly in Franco-British business relations, dialogue and cooperation in counter-terrorism, migration, defence & security, nuclear energy as well as climate change. She was particularly complimentary about the Chamber: ‘At the Chamber’s Annual General Meeting last week I was once again struck by the quantity and quality of the events that the Chamber has organised over the past year. I am especially impressed by the way the Chamber has been able to keep a very forwardlooking focus, by organising events and launching initiatives on climate change, cuttingedge technology or gender diversity.’ Jacques Attali called it ‘a strange moment’ when the country was at a crossroads of deciding to continue to be open to the world, accepting and taking what is best, or embark upon a ‘march of folly’ by closing in on itself – ‘suicide’, he called it. ‘The core ideologies of
SILVER SP ONSORS
“me first” and “better before” are a recipe for disaster,’ he said, adding that given its history of openness, the UK should be the last country to do this. ‘The ideological challenge is whether it is better to be alone or better to be with others,’ he said, going on to stress that we need the success of others, which is the philosophy that underpins Positive Planet’s mission to create a better world for future generations. ‘It is in our selfish interest to help people to develop,’ he said. ‘It is rational; technology is moving in that direction through networking, and we see the fruits in our projects in places like Lebanon and Madagascar.’ He concluded his stirring and inspiring speech with the words: ‘This is my humble way of saying, I believe in selfish altruism.’ Spirits were lifted by French band L.E.J, (see page 55) whose rousing performance of their distinctive ‘mash-up’ songs, had feet tapping, bodies swaying and the less inhibited dancing. The evening ended on an overwhelmingly positive note, in more ways than one. I KF PARTNERS
1 Raymond Blanc OBE with HE Ms Sylvie Bermann, French Ambassador to the UK 2 Jacques Attali with Estelle Brachlianoff, President of the French Chamber of Great Britain 3 A guest bidding in the silent auction 4 Nogabe Randriaharimalala performing his Madagascan music 5 L.E.J. in full swing 6 A cheque for £23,485 for Positive Planet being presented to Jacques Attali 7 Jacques Attali addressing a captive audience info
- july / august 2016 - 71
PATRON E VE NT S
London Philharmonic Orchestra
A
contingent of 46 Patron members gathered at the Royal Festival Hall for an exclusive evening listening to Honegger, Saint-Saëns, Dukas and Debussy masterpieces performed by the London Philharmonic Orchestra and conducted by Vladimir Jurowski, Principal Conductor and Artistic Advisor. The night started with a Champagne reception in the beautiful St Paul’s Pavilion, where members enjoyed canapés and an amazing view of the Thames. Guests had the privilege of meeting some of the artists performing. Our thanks to Timothy Walker, Chief Executive and Artistic Director of the London Philharmonic Orchestra, for hosting the event. I AL
Swan Lake Dress Rehearsal P
atron members enjoyed an exclusive evening watching the English National Ballet dancers rehearsing for Derek Deane’s critically acclaimed production of Swan Lake at the Royal Albert Hall. The Tchaikovsky classic was a choreographic kaleidoscope with 60 swans dancing in stunning costumes and sensational lighting transforming the Hall into a magical lake. At the Champagne reception that followed, Mehdi Aoustin– Sellami, Head of Programming, spoke to guests about the Royal Albert Hall’s forthcoming programme. Our thanks to James Ainscough, Chief Operating and Finance Officer of the Royal Albert Hall for hosting this event once again. I AL
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WOMEN’S BUSINESS NETWORK - 22 April
Digital transformation & innovation Digital transformation and innovation was discussed and debated at the second meeting of this new forum, of which Estelle Brachlianoff, President of the French Chamber, has become Chair
A
round 20 women business leaders, as well as the French
investment and the absence of top management leadership.
Ambassador to the UK, HE Ms Sylvie Bermann, were present
According to Mckinsey, French companies could unlock 40%
at the second meeting of the Women’s Business Network, hosted
revenue gains if they undergo digital transformation.
by Chanel in the Salon Privé of their New Bond Street flagship
Nina Bjornstad then presented a more personal perspective
store. The guest speakers – Ursula Morgenstern, Global Head of
on the impact of digital. She said her greatest concern was that the
Consulting & Systems Integration at Atos, and Nina Bjornstad,
industry was becoming fatigued by the concepts before it had come
Country Manager UK & Ireland at Google for Work – spoke
close to achieving what is actually possible. ‘The mobile phone is a
on Digital Transformation, a transversal theme chosen by the
good example of what is digital,’ she said. ‘I am the centre of the
members at the inaugural session.
universe on my mobile. We are all completely different in the way
Ursula Morgenstern started with an overview of what
we like to communicate and connect. We have the opportunity
Digital Transformation means and how it is impacting all business,
to be individual, but still connected as a community. It has what
government and society. ‘It is the first time that IT is really moving
inspires me, what calms me, what distracts me. It encompasses
from nerd territory into how you do things in business,’ she
me as a person. There is a constant stream of innovation and
said. She noted that it is in the making sense of structured and
inspiration on my mobile; we learn by play, intuitively.’
unstructured data that business opportunities are believed to lie.
In comparison, she observed that our desktop work computers
Digital is impacting all business functions, but, she warned, most
largely lack this creative interaction and connectivity. ‘When
companies are going digital without a strategy: 88% report that
you think about what happens so organically and quickly in our
they are undergoing a digital transformation, but only 25% have
personal lives, it is almost a tragedy that we have not allowed that
a strategy. ‘Every company needs to sit down and decide what
into the work world. In the work environment, we treat people the
they are going to do, which is why it is a business topic and not
same and all that is doing is limiting them and their contribution,’
a technology topic any more,’ she said. She noted that the UK is
she said. She went on to explain that technology is not the point at
one of the most advanced digital economies in the world, with 10%
all, but rather the backdrop for leading cultural change.
of its GDP contributed by the Internet (bigger than manufacturing
Noting that the reality of getting to an end game is far from
and retail), but it is dealing with a skills shortage. Lack of digital
linear, Nina pointed out that business processes and plans are
talent is one of the key challenges cited by companies. In France,
actually inhibiting our ability to respond to the market and take
the digital economy accounts for 5.2% of GDP. As a middle-tier
advantage of it. She ended with a challenge ‘to think about how,
digital economy, France has very good broadband infrastructure,
by engaging your employees, doing things in new ways and
but its businesses are slow in take up because of organisational
thinking more flexibly, you can evolve your business model to take
inflexibility, lack of digital talent, tight margins that hamper
advantage of what technology is providing.’ I KF
URSULA MORGENSTERN
NINA BJORNSTAD
Every company needs to sit down and decide what they are going to do, which is why it is a business topic and not a technology topic any more
Technology is not the point at all, but rather the backdrop for leading cultural change
info
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FINANCE FORUM - 5 May
Alternative funding and liquidity for SMEs Stéphane Eyraud, CEO of Chappuis Halder & Cie, and Nicolas Jacquier, Business Development Director at CrowdBnk, outline the non-traditional funding options available to small and medium-sized businesses
S
ince 2005, when the Peer-to-Peer (P2P) segment first
4. Invoice Trading: Enables small businesses to sell their
emerged, the Alternative Lending sector has been growing
invoices or receivables to many individual or institutional
rapidly. Small and Medium Enterprises (SMEs) and individuals
investors at a discount for working capital. Used to raise working
struggling to access the funds they need from traditional lending
capital
routes since the financial crisis struck in 2008, are turning to
5. Community shares: A recognised way of raising finance
peer-to-peer lending, equity crowdfunding, invoice trading and
for projects which then go on to generate a benefit for the
many other models to secure finance for growth.
community (form of share capital also called ‘withdrawable shares’). Help to fuel a local business
Alternative Lending Business Models
6. Reward-based
There are nine types, each with their own specificities and for
involving a group of contributors and a project creator to fund
particular funding needs:
a specific venture through an online platform. Contributions are
crowdfunding:
A
collective
effort
1. B2B Lending: Similar to P2P lending for businesses. It
exchanged for current/future of goods/services. Used to start
enables SMEs to obtain the necessary funding for growth
selling new products
directly from a pool of online investors. Most needs are for
7. Pension-led funding: A business owner needs funding
expansion or growth capital
and has accumulated pensions from present or previous
2. P2P Lending: Built as a dedicated online marketplace
employment. Several owners/ directors could act together to
where individual borrowers take unsecured loans from other
pool their pensions and create a bigger ‘investment pot’. Mainly
individuals. 46% is for purchasing a vehicle, and most of the
used to increase employment but also to raise working capital
money is also used for home improvement or debt consolidation
8. Donation-based crowdfunding: Allows donors to
3. Equity-based crowdfunding: Enables entrepreneurs and
support charitable, social causes or civic projects for no
start-ups to raise early-stage capital in an online marketplace
financial or material returns. Most of the time used to promote
directly from individual investors, angel investors and venture
a campaign
capitalists in exchange for the equity of the company. Half of
9. Debt-based securities: Enable long-term investments
businesses are seeking expansion capital, the other half, seed
focused mainly on renewable energy firms (for instance, to
or start-up capital
finance wind farms or solar panel installations).
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Alternative lending is one of the most attractive fintech
One recent example of this maturity is CrowdBnk. This
segments for the corporate sector as a source of new potential
fintech is a digital crowdfunding platform that allows businesses
clients. It also serves the objective of democratising financial
in the UK to raise funds from investors and supporters. This
services for each company that needs cash but may not qualify
platform is unique in that multiple investors from different
for traditional bank loans. A rising number of new entrants
locations are offered the opportunity to directly lend to exciting
keeps this market active and enables it to respond quickly to
UK businesses and participate in their success. CrowdBnk
new financial product development. Banks themselves are
recently helped businesses such as the English sparkling wine
starting to be involved, which is a good signal that the Alternative
producer Hambledon or the exams revision app Gojimo. For
Lending sector is maturing.
more information visit crowdbnk.com I
CLIMATE CHANGE FORUM - 25 April
What is your
climate story ?
Stephanie Godderidge, Climate & Us Programme Manager at EDF Energy, asks why so many people still find it so difficult to accept climate change
T
hey say knowledge is power. You may be forgiven for
It is, of course, but human nature to delay difficult
thinking that climate change is the exception to the rule;
decisions and postpone unpleasant tasks. This may explain
those who have the most knowledge – climate scientists
why the debate is still stuck on whether the changes are
– seemingly have very little power to influence how much
actually happening, rather than being about what action
action we take about it. Instead, 120 years after human-
we must take now in order to avert them – although this is
caused global warming was first mentioned, and despite
slowly starting to change.
a 97% scientific consensus, a lot of people – including
The media also bears its share of responsibility for
politicians and a large section of the media – still appear
this, playing on our fears and still giving disproportionate
to believe ‘the science is not settled’. What is it about this
exposure to the ‘denier’ camp. Look closely, and vested
particular issue that makes it so hard for people to change
interests come to the surface: political, financial, and
their view?
industrial, all of which very often go hand in hand. Our neoliberal economies are centred on free markets and minimal government interventions. Action on climate change requires big government – and new, more ethical markets. It would require not only a massive shift in how we consume, how we travel, what we eat, but also in how we relate to our environment. It would require us to change the way we apprehend the world – how we define ourselves. Never mind that, even without climate change, our way of life is unsustainable; it would take three planets to support us if everyone on earth had a UK lifestyle. For
... it would take three planets to support us if everyone on earth had a UK lifestyle
things to change, we, successful, wealthy Westerners, would need to let go of our sense of entitlement. And that may be the biggest challenge of all. But if we can see beyond that, and embrace the
Climate change is possibly the biggest story of our
opportunities presented to us by necessity, we could,
age; its impacts are far-reaching, and have the potential
possibly, make a better world, not only for ourselves, but
to threaten our way of life. But then, the scale of action
for all who share the planet with us. A world in which not
needed to limit its effects (assuming we are still in time
only the costs, but also, above all, the benefits of climate
to do this) is so vast that our way of life would also need
action are shared more equitably – making possible fuller,
to change to tackle it, especially in the West with our high
richer lives for as many of us as we can.
individual carbon footprint.
It’s up to us, which climate story we want to tell. I
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HR FORUM - 11 May
ENGAGEMENT
&
RETENTION
In the prevailing war for talent, engaging and retaining employees is no longer just an HR issue, but an important business issue. Jean-Baptiste Aloy, Executive Director-Employee Research at Ipsos, sets out the broad trends, while Brendan Collins, Director of HR at Mazars LLP and Rachel Blackett, Head of Culture Change & Engagement, Royal Mail Group relate how their two very different companies are approaching the issue
E
ngagement is hard to define. It is not a recognised
more complicated. The entire appraisal system is becoming
academic construct, so definitions are many and varied.
meaningless for an increasing number of employees. Also, the
Yet we all have an intuitive understanding of what it
future is about initiative and collaboration, something large
means. Ipsos measures it in terms of three components:
organisations struggle with. Too much change is having a
1. Involvement : satisfaction; motivation; fulfillment; giving
destabilising effect on employees too, and many feel that their
employers are not fully interested in their well being.
one’s best – a willingness to go the extra mile for the
organisation 2. Alignment: having willing employees is not enough; all the
Leadership as a catalyst for engagement
energy should go in the same direction. This involves trust
How can organisations move from a culture built around
in senior management; an understanding of one’s
silos, ‘command & control’ and ‘think & act’, to a different one
contribution; an appreciation of corporate culture and
encompassing collaboration, co-creation and ‘try & learn’?
support for strategy
Within the virtuous circle of employee engagement, leaders
3. Loyalty: important for sustainable engagement, it involves
have a key role to inspire and empower. One potential issue is
that there is a widening gap between managers and the rest of
pride, advocacy, optimism and intent to stay.
the organisation. Employees increasingly don’t have confidence In the UK, employee engagement and retention recovered
in the decisions made by their senior leadership team.
quite quickly after the crisis, but has subsequently dropped and is now stable, on a par with worldwide average levels.
Employee feedback mechanisms
Drilling down, the UK measurements show that although there
90% of large organisations have an employee engagement
is a readiness to ‘go the extra mile’, alignment and loyalty have
programme in place, but only about a quarter use employee
both dropped. Most striking, larger employers have seen a
feedback to its full extent. The number one thing they struggle
significant decline in engagement over the past year, meaning
with is quality of action plans, followed by engagement
large organisations are struggling to engage their staff. Why
activities between surveys, middle management buy-in and
this is happening is still being investigated, but it seems
linkage to business metrics. I KF
that performance management and recognition are getting
How can organisations move from a culture built around silos, ‘command & control’ and ‘think & act’, to a different one encompassing collaboration, co-creation and ‘try & learn’?
76 - info - july / august 2016
C ASE STU D IES
Mazars
T
he global professional services firm has over 920 partners and 17,000 employees across 77 countries. Engagement is a priority for the company because in a really competitive service industry market, attracting the right sort of talent is difficult. Retention is another problem: an attrition rate of 23%, when ideally it should be around 15%, indicated something was wrong. For a business whose success depends on its people to grow, it needs employees who are really motivated and at the top of their game. Mazars’ approach started with Leadership Commitment, demonstrated by a quality and integrity code of conduct. Team engagement was central to this with an objective to improve it from 70% to 75% and ultimately over 80%. A shared Definition of engagement was set as being ‘when people can maximise their own personal idea of success while maximising their contribution to the business’. Training & Development programmes were set up for Partners and team members. Conversations were started around career development, moving away from performance reviews to more coaching and mentoring, while Streaming was introduced to take account of different talents. Measurement is undertaken all the time, through the Great Place to Work survey annually and Pulse surveys quarterly. The results are communicated and acted upon, and people are made accountable for them. Action Planning takes place at both national and local level, with improvement teams given responsibility and accountability. HR support is vital, but crucially it does not belong to HR; everybody owns engagement. Reviews are undertaken regularly. Finally, regular Rewards and Recognition are given to people for increasing their own engagement levels and those of others. As a result of these efforts, attrition rates have reduced in those areas where the leadership has taken engagement seriously; there have been higher levels of performance; a higher number of applicants; engagement levels have increased from 58 to 70% (the threshold for a Great Place to Work); and interestingly, client satisfaction has also increased.
LESSONS LEARNT 1. 2. 3. 4. 5. 6.
The importance of leadership: where leaders have embraced this, engagement is up to 78% compared to 54% where they have not Listening and responding to feedback: where things are not done, engagement levels go down Regular communication: on what is being done and why Constant measurement Team involvement: shared ownership in the improvements and action plans is vital Importance of individual conversations & relationships: where there are high trust levels, there are high engagement levels.
Royal Mail Group
T
he 500 year-old company, which is the UK’s designated Universal Postal Service provider, has over 140,000 employees across the country, and delivers around 1.1 billion parcels and 15.6 billion letters a year to more than 29 million addresses, six days a week.
The company was listed in 2013, and most employees are shareholders. Having a target culture is still new for the company, and it was defined in a bottom-up way through employee focus groups, alongside three core values – Be positive; Be brilliant; Be part of it. A gradual integrated approach is being taken to introducing this to the workforce rather than a big bang, as it is a big step for the company to be looking at how people are achieving things rather than purely judging on metrics and KPIs. Traditionally a command and control organisation, Royal Mail Group is looking at how to improve change management by empowering managers to engage in a two-way iterative process. There is a big focus on cultural drivers to create a consistent culture that will ensure engagement is sustainable; and providing the foundations for colleague learning and development, not just progression, but rather broadening and enhancing skills. Working with Ipsos MORI, Royal Mail has set up ‘Archway’, a system that allows the company’s 2,800 teams to action plan, access results, track trends, comparisons, benchmarks and pinpoint areas they need to focus on. A holistic plan to engage colleagues is not easy in an organisation where the majority of the workforce is not connected because of the nature of their work. Most colleagues complete the Employee Survey on paper and the company has found cost-effective ways of promoting engagement such as a thankyou card scheme for managers to give personal recognition for jobs well done, conducting frontline one-to-ones for the first time, an extranet site and initiating ‘The Big Conversation’, which is a way of building and evolving engagement by asking questions about why Royal Mail matters, what the company looks like at its best, and how that can be achieved.
info
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LEGAL FORUM - 20 April
Data protection compliance: taking your first steps With the date set for the General Data Protection Regulation to come into force, John Halton, Assistant General Counsel for the Financial Times outlines steps businesses need to take to prepare and Laurie-Anne Evra-Ancenys, Senior Associate at Gide Loyrette Nouel Paris, considers where things stand with the Privacy Shield, given recent European Court of Justice rulings
A
fter years of discussion and debate, we now finally have a date
The future of the Privacy Shield
for when the General Data Protection Regulation (GDRP) comes
The ‘Safe Harbour’ adequacy decision was invalidated by the
into force: 25 May 2018. From that date, national data protection
European Court of Justice (ECJ) on 6 October 2015, in the
laws will be replaced by a single, EU-wide regulation.
Maximilian Schrems case, as it allowed the Safe Harbour
That may seem a long way off, but for most businesses this is
principles to be limited ‘to the extent necessary to meet
going to set a challenging timetable, with early action required to
national security’ of the US without showing how US law may
be ready in time. The new law tightens up the rules for processing
limit such interference to what is strictly necessary. Thus,
personal data, and imposes swingeing fines (up to €20 million or 4%
the Commission’s purpose was to draft a new adequacy
of global turnover, whichever is the greater) for non-compliance.
decision explaining how personal data transferred to the US is protected from undue surveillance under US law and
The changes are wide-ranging, but include: • Tighter rules on when consent is needed and how it can be given
showing that such protection meets the EU’s standards. On 29 February 2016, the Commission issued a draft
• Rules to ensure data protection risks are assessed and documented
adequacy decision, along with 7 annexes, intended to form
• An obligation for many businesses to appoint a data protection
the future Privacy Shield. These annexes mainly contain
officer
letters from the US administration explaining how national
• Scrapping the £10 fee for subject access requests, which is likely to
surveillance is limited by law and internal mechanisms,
lead to an upsurge in requests
and how a new Ombudsman will handle enquiries and
• ‘Data portability’, enabling users to transfer their data between
complaints from EU authorities and citizens. However, these
different service providers
letters mainly explain US law and do not correct what may
• A requirement to report all data breaches within 72 hours
fail to meet EU’s standards. Thus, the Commission admitted
• Parental consent for processing data relating to children (defined
in its draft decision that US agencies still intend to conduct
as those aged under 16, though individual states can lower this to 13)
bulk collection of personal data and that Europeans’ right to
• Direct obligations on data processors as well as data controllers.
access data held by such agencies may actually be ineffective.
The new law will also apply to non-EU companies that provide goods
As such, on 13 April, the Article 29 Working Party
or services to EU residents or monitor EU residents’ behaviour within
(comprising the Data Protection Authorities of each EU
the EU.
member state) issued a mitigated (but non-binding) opinion on the draft decision. It outlines that US law does
So what are the immediate priorities?
not fully exclude collection of massive and indiscriminate
This will vary according to your business, but here are some steps
data, while both the Article 29 Working Party and the ECJ
to consider:
have consistently held that such collection is an unjustified
• Ensure your senior decision makers are aware of the GDPR and its
interference with the fundamental rights of individuals. It also
potential impact
expressed concerns as to whether the new Ombudsperson
• Start to assemble the teams and working parties you need to
will have sufficient powers to work effectively. On 26 and
prepare for the GDPR
30 May, the European Parliament and the European Data
• Consider appointing a data protection officer – there is likely to be
Protection
a severe shortage of candidates by May 2018
concerns. Currently, the Privacy Shield is being discussed
• Start mapping your personal data so you know what you have,
by the Article 31 Committee, comprising ministers of each
where you hold it, which suppliers are processing it for you, and what
member state; such process may delay the European
your legal basis for processing the data is
Commission’s decision.
Supervisor
respectively
expressed
similar
• Start to update your privacy policies and data capture notices:
The future of the Privacy Shield is therefore uncertain: if
failure to do so now could mean you lose your ability to use the data
the Commission finally enacts its adequacy decision despite
in future, if you can’t show you have clear consent where required.
numerous criticisms, such decision may still be challenged
• Ensure that contracts with data processors are ‘GDPR-ready’
before the ECJ and invalidated just as the Safe Harbour was.
• Ensure that new products are GDPR-ready, with data protection
Considering such risks, companies intending to transfer
impact assessments, data protection by design and default, and data
data to the US may choose alternative legal basis such as
portability where required
contractual terms or binding corporate rules.
• Establish procedures for detecting and reporting data breaches. I
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START-UP & SME CLUB - 24 May
How start-ups can attract and retain talent Start-ups are not immune to the talent war, and just as susceptible to the problems of recruiting and keeping choice employees as larger companies. Antoine Aubois, Partner at Akoya Consulting, and Fabrice Bernhard, Co-founder and CTO at Theodo, relate their own experiences and lessons learned
Theodo
Akoya
mobile platforms for a wide range of clients, from LaFourchette
no longer be antagonised. That is why we created a strategy
to BNP Paribas and Societe Generale. One of the key reasons
consulting firm dedicated to people. We support HR teams of
we achieve a 97% referral rate from our clients is the excellency
major companies on three dimensions: HR Analytics, Business
of our teams. We hire the best and brightest from top UK and
Partnering and People Innovation.
At Theodo we provide agile tech-teams-for-hire to build web and
At Akoya, we think that pragmatism and humanism should
French universities and train them to become tech and agile experts. Being very selective has not prevented us from growing
HR Analytics are not only for blue chips
from 15 to 120 employees in four years. Here are three key tips
As a consulting firm, Human Capital is definitely our primary asset.
we learnt along the way:
We therefore pay huge attention to each recruitment. However, in 2015, we had reached a point which we considered unsustainable:
If you hire a magician, ask him to show his tricks
we had spent no less than 108 man-days in recruitment activities
All our applicants have to show their skills in action. Tech
for only four hires. We realised that we had to make it more
candidates have to solve three algorithmic exercises and then
efficient. This is why we decided to apply to ourselves the very
pair-program 30 minutes with an architect. Sales candidates
same tools that we deploy for our clients: HR Analytics.
go through three different sales simulations. Not only have we reduced the hiring mistakes from 10% to 2% since, but also have
Using HR Analytics to improve the recruitment process
become more attractive to the best candidates: they prefer to
First, we broke down the recruitment process to get the conversion
join the company that detected their full potential.
rate at each step. Out of 604 received applications, 8% were invited to a first interview, mostly focused on personality. 45% of
The offer is made by a founder
them made it to second round, out of which only 33% passed
Joining a company, especially a small one, is a stressful moment
the business cases. Only 8 people out of 22 met our analytics
for a candidate. Candidates can start to doubt: what if this is all
standards and we were discovering it after only two screening
fake? The opportunity is certainly better than in a big corporate
steps. To make the process more efficient we decided to set up
but less tangible.
an online analytical test prior to the first round of interviews. More
My co-founder and I decided to make the offer ourselves
interestingly, by having discussions with our target population we
and face-to-face. The acceptance rate went from 50% to 90%.
realised that having such an online test also reinforced the process
Only a face-to-face meeting allows us to share our passion, our
credibility in the eyes of young graduates.
long-term vision and clarify the moral contract that will bind us in the coming years.
Using HR Analytics to improve HR marketing mix And we pushed the analysis further. We wanted to better
To retain talent, create a clear progression path
understand the efficiency of our application sources. And we
Hiring smart people and training them well means that our
discovered that more than 50% of the applications were coming
employees get many opportunities outside of Theodo. Our
from job boards but none of them passed the 2 rounds of
strategy to retain them is simple: we make sure we remain
interviews. By contrast, very few applications came from our
the place where they will learn and improve the fastest. Our
sponsoring activities but they counted for half of the proposals
progression path is divided into five levels. To move to the next
we made. Considering they were comparable investments, we
level, you need to convince a jury that you have achieved well-
transferred our job board budget to more direct relationships with
defined targets and are ready to move up. Your manager is
our target universities.
there to help you along the way and ensure you progress as fast as possible.
Key takeaways
We are proud to say that our continued efforts to attract
HR Analytics are not for blue chips only. Using them can make you
and grow the best talent has enabled us to move from the
spare both time and money on the short term. And last but not
second best start-up in 2015 to the best scale-up to work for in
least, confront your solution options with your target population.
France in the 2016 HappyAtWork - Les Echos ranking. I
It can make you realise collateral benefits that you would not have thought of in the first place. I info
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START-UP & SME CLUB - 12 April
Are you ready to exit? Adam Thorpe and Fred Caharel share KPMG’s experience of preparing businesses for a successful exit What is a good exit? In our experience of working with business owners, we often find there can be a gap between the value expected by key stakeholders and the value actually realised on exit. Where valuation expectations are realistic, this suggests that value is being left on the table by shareholders. Of course, it is important to be realistic. Management needs to be comfortable with the business’ performance and its expectations for future results. Not only are the results and forecasts often scrutinised during a due diligence process, but also remaining shareholders and management will typically be tied up for a number of years after the deal through payments made through an earn out mechanism which is calculated based on actual performance post-deal. As a result, the objective for a good exit should not be to maximise but to optimise the value. Simply put, the exit valuation should remain realistic in light of performance and prospects but should be as high as possible given the underlying qualities of the business and the management team being sold. Mechanics of value drivers The value of a business is in most cases the result of a normalised performance benchmark (i.e. EBITDA) times a “multiple”. The performance of the business is usually well known by the seller. The multiple is intangible and often not well understood. The multiple reflects the bidder appetite and their views on the future opportunities for the business (also called the “equity story”). In assessing the equity story, a bidder will generally build a view on how he can grow the business and, in doing so, he will look at the current trading conditions (customers, contracts,
CLARITY OF THE EQUITY STORY BEING TOLD
markets, staff, tax status, ongoing claims, etc.), as well as expected future performance and the capacity of the company to achieve that planned performance. Value is not optimised when there is a lack of conviction or clarity around the equity story or the performance of the business is not in line with the vision being presented. That generally creates the value gap. Pitfalls to avoid The table below is an illustration of the common pitfalls and value downsides which can be avoidable as long as management prepares appropriately to address bidder concerns and key questions. This diagram shows the key elements of any business’ preparation for an exit. By following a process such as this, implementation plans are agreed and management is then free to execute accordingly or may consider seeking expert assistance in certain areas in order to ensure that implementation is a success. In summary, being exit ready requires a well-thought plan including a challenging internal diagnostic in order to avoid any flaws which would only negatively impact the outcome. This process needs to start well in advance of a sale so that actions are realised and results are confirmed as much as possible before the exit. A well-executed exit plan is not conceived at the last minute. Owners and managers should give themselves time to succeed rather than being disappointed when bids are received. Indeed, an “ideal” scenario a motivated buyer will look for can be summarised as below and this should be used as your guide as you are preparing for your exit. I
PURE PERFORMANCE ISSUES
Addressed?
Addressed?
Concerns over the growth potential and equity story is not seen as strong enough or believable / credible
A difference between the growth ambition and the actual business performance
The business strategy is not clear or is unfocused
Slowing growth or sales performance which is not as strong as budgeted or behind peers
The external view of the business is critical or raises concerns over competitive positioning and leadership in the future
Lack of coherence between sales plans and the operationg model, skillsets and capabilities – leading to concerns on execution risks
Product development and innovation concerns
Negative market feedback, customer feedback and reputation issues
Growth plans are not fully justified (documented) and limited actions have been taken to date
Margin concerns and lack of clarity and track record on delivering planned performance improvements
A lack of detailed action plans and responsibilities leading to growth or improvements being perceived as possible upside rather than embedded in valuation
Quality of earnings adjustments or current trading concerns
Management does not appear aligned
Reporting (KPI dashboards), controls and information systems which are not properly supporting the business
Ambition is not backed by the cash flow generation of the business to date
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DIAGNOSTIC
PRIORITIES
ACTIONS
EXECUTION:
12 to 18 months plan implementation
• Clarify your planned equity
• Once diagnostic completed,
• Agree an implementation plan
• Address the value
• Highlight strengths and
define priorities or levers of
• Give clear responsibilities and
gaps, or:
weaknesses
value
timelines
• Agree a plan to resolve them
• Asses underlying performance
• Share findings and highlight
• Define target KPls
•Get external feedback - such
potential actions to consider
as customers, partners and
• Discuss and agree key options
suppliers
Identify the value
Drive the value
Realise the value
C ASE STU DY
Selling my baby - how to become stronger with others Marie Fouris, Co-founder and COO of Edit-place, tells her story Start phase I co-created my own company in October 2010 with my partner Julien. Previously I was a sales director in a start-up that I loved but wanted a new challenge as our company had been sold, and I was no longer a leader but a follower. It was a big jump from wanting to change the rules to creating my own company, but Edit-Place was born with the mission of delivering web content to companies in 40 languages and building editorial content strategies with our clients to increase their organic traffic. Edit-Place was initially based in Paris and we opened a London office in February 2014. By January 2016, the company had grown to 40 employees. Run phase Our company was built with young people and an incredible spirit. Year after year, we created new products and improved our services. After a few years, in the face of competition, we decided to take steps towards internationalisation. During this time we asked those members of our team who wanted to, to take on more responsibilities. Despite team turnover, we stuck to our original DNA: Agility, Speed and Test & Learn. During this phase, we tried to raise funds through a private VC, but were unsuccessful, so continued to grow with family funds. Decision to sell We realised that competition was getting fiercer and if we wanted to continue with a 20% growth in turnover each year, we needed to face reality. Being stronger implied being better leaders. We wanted to find an international partner in order to launch in new countries. We wanted to recruit more senior people to help us in our daily mission; my partner and I were ready to see our baby company live without us. The sale The job is huge and you realise quickly that you need an investment bank to help you. The investment bank knew us very well as they had tried to raise funds with us twice before, and knew in particular our strong entrepreneurial spirit. They organised everything over a short period as it takes time in your day-to-day business. This exercise of selling our company was extremely clear for us. We wanted to find a real financial partner to help us grow in terms of products and internationalisation. We were crystal clear in all our discussions, even when an URSSAF1 control letter has arrived on my desk during negotiations. We faced this problem and even today our best weapon remains our transparency and business anticipation. The company that bought us (Webedia Group) has allowed Julien and myself to remain the heads of our business and has kept all our employees. After selling After six months, I would not change anything. We sold part of our company and will continue working with them for the next three years. When you decide to sell, you realise that although your energy is always strong with your co-founder, it is better deployed when you find partners to help you take a new step. 1 URSSAF (Unions de Recouvrement des Cotisations de Sécurité Sociale et d’Allocations Familiales, meaning the Organizations for the payment of social security and family benefit contributions) is a network of private organizations, created in 1960, whose main task is to collect the employee and employer social security contributions, which finance the Régime general (general account) of France’s social security system info
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FORTHCOMING FORUMS & CLUBS
Legal Forum - By application only
Climate Change Forum - By application only
14 September, 9.00am – 11.00am
27 September, 10.00am – 12.00pm
Chair: Olivier Morel, Partner, Cripps, Vice President of the
Chair: Richard Brown CBE, former CEO & Chairman of Eurostar
French Chamber
Deputy Chair: Jean-Philippe Verdier
Deputy Chair: Ken Morrison, Legal Director, Eurotunnel
Theme: Update on the science behind Climate Change: the
Theme: Potential legal consequences of Brexit
Met Office
Speaker: TBC
Speaker: TBC
All sessions take place at the French Chamber. For more information, contact Nils Jean at njean@ccfgb.co.uk or 0207 092 6638
CHAMBE R HAPPE NINGS - FORTHCOMING E VE NT S
6
September 17.00 - 23.00
DÎNER DES CHEFS AT BELMOND LE MANOIR AUX QUAT’SAISONS Cost: £120+VAT per person for a Champagne reception, canapés, a 4-course menu, petits fours, Grands Crus Classés and Cognac In partnership with: Les Grands Clus Classés de Graves and Pernod Ricard UK Transportation kindly provided by Renault
Join Chamber members for an exclusive dinner at Belmond Le Manoir aux Quat’Saisons with one of the UK’s most celebrated Chefs, Raymond Blanc OBE. Le Manoir has held two Michelin stars for 31 years. For more information, contact Nils Jean at njean@ccfgb.co.uk or 0207 092 6638
14
September
RENDEZ-VOUS CHEZ LE VIEUX COMPTOIR Where: At Le Vieux Comptoir, 26-28 Moxon Street, London W1U 4EU Cost: £20+VAT per person
18.00 - 20.00
Join us to discover Le Vieux Comptoir in the heart of one of the most typical villages in London, Marylebone. You will have the opportunity to meet the team of this beautiful wine shop, while enjoying charcuterie and wine in a convivial atmosphere! For more information, contact Anne-Claire Lo Bianco at alobianco@ccfgb.co.uk or 0207 092 6643
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Patron Members of the French Chamber in Great Britain
L O N D O N B RAN C H
Enhance your career in Energy and Agribusiness Management at ESCP Europe The energy and agriculture sectors are rapidly changing and growing. Today’s managers need to have a broad perspective with an integrated view in order to cope with the complexity of these thriving industries and have a clear understanding of antagonisms across players in the ever-evolving Energy and Agribusiness markets. On these grounds, ESCP Europe has developed three specialised programmes in Energy and Agribusiness Management that will prepare students for a successful career in these expanding sectors: MSc in Energy Management 18 month, full-time postgraduate programme, starting in September 2016 London, Paris – taught in English 16 week integrated internship and master thesis International seminar in Houston (Texas-US) escpeurope.eu/mem
Master in Agribusiness Management
Executive Master in Energy Management
18 month, full-time postgraduate programme, starting in September 2016
12 month, part-time executive programme, starting in September 2016
London, Paris – taught in English
London, Paris, Berlin, Madrid – taught in English
16 week integrated internship and master thesis
International seminar in Houston (Texas-US)
International seminar in Crete (Greece)
escpeurope.eu/emem
escpeurope.eu/mam
A unique Research Centre for Energy Management All programmes are supported by a specialist faculty and the Research Centre for Energy Management (RCEM), based at ESCP Europe’s London campus. Bringing together the expertise of its faculty and its many external associates, the objective of the RCEM is to cooperate with, and assist, key industry players to facilitate the integration of managerial and technological skills and to build a strong proactive partnership between energy cooperation, government agencies and the academic community, in preparation for a new energy era. Find out more at www.rcem.eu Established in 1819, ESCP Europe is at the forefront of education preparing the leaders of tomorrow. One of its core missions is to develop the next generation of leaders in Energy Management and Agribusiness sectors across the globe. To find out more about our unique energy and agribusiness programmes, visit our website or contact Viktorija Nikitina on +44 (0)20 7443 8873 (for the MSc in Energy Management and Master in Agribusiness Management) or Crochenka McCarthy on +44 (0)20 7443 8823 (for the Executive Master in Energy Management).
ESCP Europe is among the 1% of business schools worldwide to be triple-accredited.
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