Professional Sports Teams Win Big on Sustainability

By Sara Drexler*

Panelists and Moderators from Friday’s Leadership in Greening the Sports Industry Conference. Courtesy of NRDC.

Last Friday, the Wharton Initiative for Global Environmental Leadership (Wharton IGEL) partnered with the Natural Resources Defense Council (NRDC) and the Wharton Sports Business Initiative to host representatives from the professional sports industry to share ideas around “Leadership in Greening the Sports Industry: Raising the Bar for Sustainability.” Allen Hershkowitz from NRDC, a senior scientist who is a thought leader in sustainability efforts in the sports industry, opened the panel with a remarkable statistic: 13% of people follow science, over 63% follow sports. The sports industry has a unique opportunity to influence trends in sustainability through its significant fan base across all types of sports. Additionally, the sports industry’s unique facilities and operations present significant opportunity for long-term cost savings through investments in environmental sustainability. This combination of financial incentives and a large base of loyal fans positions the sports industry for maximum impact on sustainability.

Can You Leverage a Social Enterprise in the Era of Crowdfunding?

by Ron Ben-Zeev*

That is the question I asked myself a few months ago. I was listening to Brian Meece, Founder and CEO of RocketHub, the third largest such platform in the U.S., who was speaking at a Start-up Weekend event I co-organized in Orlando, Florida.

Crowd funding or crowdfunding (alternately crowd financing, equity crowdfunding, or hyper funding) describes the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations.

As Brian was speaking, my mind was spinning in many directions. Can this help my start-up? How? Can the funds raised make a true difference or is the potential exposure enough?

Penn Enactus Launches Recycling Initiative for Veterans

by Penn Enactus

A close-up of the first mosaic made of recycled tiles and mirrors by the Penn Enactus Green Initiative team. Courtesy of Penn Enactus

In the fall of 2012, our group of students from the University of Pennsylvania undertook the monumental challenge of starting Penn Enactus, the Penn chapter of the entrepreneurial organization Enactus. Our team reached out to various business leaders and faculty members  to gather a sizable Business Advisory Board, and also greatly benefited from the guidance of Professor Keith W. Wiegelt of the Wharton School, and Joanne Spigonardo, Associate Director of the Wharton Initiative for Global Environmental Leadership (Wharton IGEL).

One of Penn Enactus’ three current start-up projects is the Green Initiative, created with guidance and support from Wharton IGEL. With environmental sustainability and economic welfare in mind, the Green Initiative team takes an ambitious approach to a common social problem: unemployed military veterans. Combining the determination of the target group, and the use of recycled tiles, mirrors and pottery, we are teaching veterans in the Philadelphia area the skills they need to make, market, and sell mosaic artworks.

Clean Energy Challenges and Opportunities for Investing in Sustainability

by Sharon Muli*

Jason Baxter of Drexel University

If the Earth had six massive solar installations measuring 200 miles long by 200 miles wide filled with 10% efficient solar cells, it could generate enough energy to meet global demand.  While this is a powerful vision that demonstrates the high potential of solar power, it sounds like a rather absurd thought. Yet this image raises a fundamental question; how can we take better advantage of solar power?

This issue was discussed during the Clean Energy and Sustainability Investing Workshop at the Wharton Social Impact Conference on November 16, 2012, organized by the Wharton Social Impact Initiative.  This year, the theme of the conference was “The Finance of Impact:  Innovative Approaches to Social Change”. The discussion of photovoltaics (PV) emerged as a clear example of how financial investments and technological development can lead to more sustainable change.