{"id":949,"date":"2022-02-19T04:30:58","date_gmt":"2022-02-19T04:30:58","guid":{"rendered":"https:\/\/www.mittecomm.com\/sunmoney\/?p=949"},"modified":"2022-11-15T20:15:11","modified_gmt":"2022-11-15T20:15:11","slug":"how-a-sustainable-lifestyle-can-help-expand-your-wealth","status":"publish","type":"post","link":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/2022\/02\/19\/how-a-sustainable-lifestyle-can-help-expand-your-wealth\/","title":{"rendered":"How a sustainable lifestyle can help expand your wealth"},"content":{"rendered":"

Rishabh Mittal began recycling plastic bottles<\/a> from home for the good of the planet.<\/p>\n\n\n\n

But when he discovered ZeLoop \u2013 a UAE-based company and app that rewards people for depositing bottles at registered recycle points \u2013 the Dubai student extended his efforts to include residents in his building.<\/p>\n\n\n\n

That resulted in the 13 year old amassing 500 bottles in one month last year, earning him \u201cEco-Rewards\u201d and providing his family with grocery discounts<\/a> worth Dh1,000.<\/p>\n\n\n\n

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Rishabh Mittal recycled 500 plastic bottles in one month last year using a rewards app called ZeLoop. This provided his family with grocery discounts worth Dh1,000. Antonie Robertson \/ The National<\/figcaption><\/figure>\n\n\n\n

\u201cI wanted to do a recycling project as a service action for my school,\u201d says Rishabh.<\/p>\n\n\n\n

\u201cWhile looking for opportunities on Google, I came across ZeLoop where they encourage you to recycle plastic bottles and reward you \u2026 this seemed interesting and inspiring.<\/p>\n\n\n\n

\u201cI did recycle, but not on a regular basis \u2014 ZeLoop encouraged me to make this part of my daily routine.\u201d<\/p>\n\n\n\n

Rishabh joined the app in August and began collecting bottles at school and picnics, but he then encouraged neighbours in his Business Bay building to give him their empties, which he deposits in basement recycling bins<\/a>.<\/p>\n\n\n\n

The Indian teenager, whose father is a senior finance professional, recognised the fiscal benefit of maintaining his efforts, for which he has since been designated a ZeLoop \u201ceco ambassador\u201d.<\/p>\n\n\n\n

Once registered, users take plastic bottles to recycling points mapped by the ZeLoop community \u2013 the platform geo-locates the user who must upload a snapshot of their bottles.<\/p>\n\n\n\n

More than 5,000 people have joined in the UAE, of which about 2 per cent are participating weekly, while 11,000 registered users in 150 countries feed 5,000-plus collection points, Eric Schaffner, ZeLoop\u2019s founder and chief executive, says.<\/p>\n\n\n\n

For each water, milk, or shampoo bottle deposited \u2013regardless of size, plastic type, clean or crushed \u2013and each new collection point tagged, the user\u2019s blockchain<\/a> virtual wallet is credited with Eco-Rewards, a digital currency token created by Mr Schaffner and his team.<\/p>\n\n\n\n

ZeLoop was deployed worldwide in July 2020 with Eco-Rewards becoming redeemable five months later. Last October, it also became possible to convert them to US dollars or Bitcoin<\/a> via the Binance chain.<\/p>\n\n\n\n

Accumulated rewards can secure discounts with 20 partners on the ZeLoop marketplace \u2013 such as cleaning solutions retailer Al Bayader, sustainable products retailer Blue Terra and beauty brand Secret Skin \u2013 or contribute to tree planting.<\/p>\n\n\n\n

Drawing on 25 years’ experience in the beverage and plastic packaging industry, Mr Schaffner is convinced the circular economy<\/a> can minimise waste and regenerate natural systems.<\/p>\n\n\n\n

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Eric Schaffner, ZeLoop’s founder and chief executive, says the user\u2019s blockchain virtual wallet is credited with a digital currency token when each plastic bottle is deposited. Photo: Courtesy Eric Schaffner<\/figcaption><\/figure>\n\n\n\n

\u201cOne million plastic bottles are produced every minute in the world \u2026 every year 78 million tonnes of plastic ends up in nature or landfill,\u201d he says, highlighting that bottles have actual value, so consigning them to garbage is like throwing money down the drain.<\/p>\n\n\n\n

\u201cFor us, any bottle that doesn\u2019t end up in nature deserves to be rewarded equally,\u201d he says.<\/p>\n\n\n\n

\u201cMost of our partners value a bottle at Dh1, so \u2018ZeLoopians\u2019 have in their wallets half a million dirhams worth of discount vouchers that can save them 10 per cent to 50 per cent off goods available for redeeming.\u201d<\/p>\n\n\n\n

ZeLoop\u2019s gamification<\/a> model also encourages competition and hosts Eco-Missions, a regular challenge with prizes for best collectors over a designated period.<\/p>\n\n\n\n

When the Nestl\u00e9 Pure Life Eco-Mission initiative ran in the UAE on World Recycling Day, in partnership with ZeLoop, participants collected 50,000-plus recyclable plastic bottles during six weeks. So far, UAE users have collected almost 500,000 bottles.<\/p>\n\n\n\n

So what is the incentive for companies to provide discounts on their products?<\/p>\n\n\n\n

\u201cPartner brands are motivated to be part of the programme because they want a tangible and measurable action on the ground that reflects their CSR values and strategy,\u201d says Mr Schaffner.<\/p>\n\n\n\n

\u201cWe are combining blockchain technology and image recognition to offer brands the benefit of a unique, trustable ecosystem.\u201d<\/p>\n\n\n\n

UAE start-up EroeGo also aims to reduce landfill by supplying excess and irregular-shaped fruit and vegetables directly to consumers \u2013 saving them up to 30 per cent and reducing produce waste.<\/p>\n\n\n\n

\u201cWe prefer to rescue excess produce that is already in the country, so we work with local farmers and wholesalers rather than overseas wholesalers,\u201d says Daniel Solomon, a British Nigerian who launched the company in September 2020.<\/p>\n\n\n\n

\u201cWe also rescue \u2018ugly\u2019 groceries \u2013 fruit or vegetable that is too big, too small or has a funny shape \u2013 the produce supermarkets won\u2019t take because of superficial standards.<\/p>\n\n\n\n

\u201cAll these items are perfectly good to eat and when you reclaim this fruit and vegetable, you are saving the water and resources that went into growing them, too.\u201d<\/p>\n\n\n\n

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Daniel Solomon is the founder of EroeGo, a sustainable delivery platform that supplies people with \u2018ugly\u2019 fruits and vegetables that would have otherwise gone to landfill. Photo: Antonie Robertson \/ The National<\/figcaption><\/figure>\n\n\n\n

He describes a win-win situation as a three to four kilogram EroeGo box saves about 4kg of C02 and 842 litres of water, while reducing grocery costs for customers.<\/p>\n\n\n\n

It means wholesalers and farmers are now selling produce that would probably be discarded.<\/p>\n\n\n\n

\u201cThe reason the produce might be slightly lower [priced] than conventional produce sales is because they understand the value in making the planet safer, while not losing return on their investment,\u201d says Mr Solomon, 33.<\/p>\n\n\n\n

\u201cWe want to ensure farmers and wholesalers consider excess and ugly produce as important food that should never be wasted.<\/p>\n\n\n\n

\u201cSince they are perfectly good to eat, we can find a new home for them, while offering additional revenue. And, in the process, the planet smiles because of the water and resources we are saving.\u201d<\/p>\n\n\n\n

<\/p>\n\n\n\n

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Katie Cuthbert with her son Cem. She became a customer of EroeGo after being interested in the sustainability angle offered by the start-up. Photo: Katie Cuthbert<\/figcaption><\/figure>\n\n\n\n

Scottish mum Katie Cuthbert became a customer after spotting EroeGo on Instagram and says she was first interested in the sustainability angle.<\/p>\n\n\n\n

\u201cThe idea that so much food ends up wasted<\/a> just because it\u2019s not the perfect size or shape is shocking,\u201d says Ms Cuthbert, 30.<\/p>\n\n\n\n

The Dubai-based project manager, who lives in The Springs with her husband and baby son, initially ordered a box every two weeks but now has one weekly.<\/p>\n\n\n\n

\u201cI\u2019m not sure how much I\u2019ve saved but it would be at least Dh100 a week, given the amount I receive in each box,\u201d she adds.<\/p>\n\n\n\n

\u201cI love the variety [and] getting a selection, rather than choosing what I buy, means I waste much less.\u201d<\/p>\n\n\n\n

Mr Solomon sees more people from all backgrounds becoming increasingly conscious of their day-to-day actions, be that recycling, composting, using less plastic, or reclaiming fruits and vegetables that would normally have been wasted.<\/p>\n\n\n\n

\u201cOf course, when you know you can do good and enjoy good food without a heavy cost, you are even more invested,\u201d he says.<\/p>\n\n\n\n

\u201cIn the \u2018let\u2019s fight food waste\u2019 community, the motivation is showing that climate action and making our world safer does not have to be expensive.\u201d<\/p>\n\n\n\n

But the Dubai entrepreneur recognises a need for more consumer education in many areas surrounding food waste, including the difference between \u2018best before\u2019 and \u2018use by\u2019 dates; often a major contributor to food waste.<\/p>\n\n\n\n

Mr Solomon, whose company also donates a meal for two people facing hunger for every box delivered, believes there is still much more food to be rescued in the UAE and beyond.<\/p>\n\n\n\n

Is there not a danger, however, that mainstream supermarkets will adopt his model and hit EroeGo\u2019s sales?<\/p>\n\n\n\n

\u201cRather than a danger, we actually think it is a good thing if more supermarkets do this,\u201d he adds.<\/p>\n\n\n\n

\u201cAt the moment, food waste is a huge problem \u2014 8 per cent of total greenhouse gas emissions are caused by food waste \u2014 and in the Mena region, individuals tend to waste 50 per cent more food compared with someone in Europe or the US.<\/p>\n\n\n\n

\u201cSo, to make society safer, it is a massive problem the whole grocery system needs to be tackling together.\u201d<\/p>\n\n\n\n

Solar panels<\/a> on homes have also long been a method to slash regular domestic bills, but they require capital investment, which often only long-term UAE property owners are prepared to consider.<\/p>\n\n\n\n

Dubai-based SunMoney Solar takes the concept a stage further to help investors grow their wealth and help the environment.<\/p>\n\n\n\n

<\/p>\n\n\n\n

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SunMoney Solar Group runs a global community solar power programme that allows individuals and institutional investors to become part of an energy community and enjoy potential returns. Photo: Courtesy SunMoney Solar Group<\/figcaption><\/figure>\n\n\n\n

The company builds, operates and acquires solar power plants in Central Eastern Europe and its global community solar power programme allows individuals and institutional investors to become part of an \u201cenergy community\u201d and enjoy potential returns.<\/p>\n\n\n\n

Once invested, a SunMoney mobile wallet<\/a> enables participants to check and manage their earnings.<\/p>\n\n\n\n

Closer to home, meanwhile, ZeLoop plans to embrace other recyclables in its model, including paper, e-waste, cans and glass, as well as seeking more partners.<\/p>\n\n\n\n

\u201cWe are going to release a new feature that will reward steps<\/a> when ZeLoopians collect litter while jogging or running,\u201d Mr Schaffner reveals.<\/p>\n\n\n\n

\u201cOur ambition is to make the bridge between any eco-friendly gestures for the benefit of participating people and stakeholders, creating a suite of solutions for a more sustainable world.\u201d<\/p>\n\n\n\n

At the grassroots level, Dubai International Academy student Rishabh is busy spreading the word about the ZeLoop mission.<\/p>\n\n\n\n

\u201cYou can create your own deposit points, which can be near your community, which gives you the ease of depositing bottles without having to go far,\u201d he adds.<\/p>\n\n\n\n

\u201cThe rewards they give you to recycle gets you into the habit, even if you have never done it before.\u201d<\/p>","protected":false},"excerpt":{"rendered":"

Rishabh Mittal began recycling plastic bottles from home for the good of the planet. But when he discovered ZeLoop \u2013 a UAE-based company and app that rewards people for depositing bottles at registered recycle points \u2013 the Dubai student extended his efforts to include residents in his building. That resulted in the 13 year old amassing 500 […]<\/p>","protected":false},"author":1,"featured_media":950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/posts\/949"}],"collection":[{"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/comments?post=949"}],"version-history":[{"count":2,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/posts\/949\/revisions"}],"predecessor-version":[{"id":1459,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/posts\/949\/revisions\/1459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/media\/950"}],"wp:attachment":[{"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/media?parent=949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/categories?post=949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mittecomm.com\/sunmoney\/hu\/wp-json\/wp\/v2\/tags?post=949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}