The European Forum for Risk and Insurance professionnals
US grocery giants Kroger and Walgreens are leading the way in Sustainable Growth as they team up with UPS and TerraCycle to develop an innovative delivery system designed to tackle the issue of packaging and food waste, as reported recently by The Bulletin.
This new system is called “Loop” – named as such because the containers that groceries will be delivered in will be reusable. Loop debuted at the World Economic Forum in Davos in January and launched in cities across the US as well as Paris at the end of May.
When a customer orders their products through the Loop website, their purchases arrive in bespoke brand-owned packaging and specially designed Loop tote bags. When ready, UPS collects the empties for free, Loop sanitizes them, and they are shipped back to the brands to begin the cycle again.
These companies have collaborated, with buy-in from big names such as Nestle, Unilever and Proctor & Gamble, to “reinvent the way we consume by leveraging the sustainable, circular milkman model of yesterday with the convenience of e-commerce,” as Founder and CEO of Loop and TerraCycle, Tom Szaky, said in a news release.
The pace of change in today’s business world is faster, and so is the need for organisations to understand and respond to emerging risks quicker and smarter. Disruption can come from anywhere – even climate change – and debilitate global supply chains, as well as potentially threaten business existence.
How can you as Risk Managers help your company to innovate for a resilient future in the same way as these brands have done, particularly given the unpredictable nature of today’s environment?
What are the learnings we have seen from those organisations that successfully use innovation to understand, mitigate and manage the risks they face?
These and other questions will be explored in our Forum session about innovation, risk management and business resilience, led by FM Global’s Senior Vice President Innovation, Michael Lebovitz. Michael will touch upon his efforts to evolve FM Global’s market-leading innovative products and services to meet the ever-changing needs of the company’s policyholders.
Find out more about this session: How does innovation help companies build and maintain business resilience?
Join us for further insight on Sustainable Growth in Berlin from 17-20th November. Register here.