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New Fund Raises Money for Recyclers

The new Sustainable Jobs Fund(SBJ) will invest in start-up and expanding businesses in recycling, remanufacturing, reuse, and composting industries. One of its objectives is to find jobs for former welfare recipients and people outside the mainstream economy, says David Kirkpatrick, cofounder. “We’ll start by funding small amounts for about 20 seed investments, and the investments will get bigger as the firms grow,” explains Kirkpatrick. SBJ is being organized as a 10-year limited partnership. It will be capitalized by $10 million in investments and $5 million in low-interest loans from financial institutions, foundations, and insurance companies. Most venture capital-funded businesses provide high-tech, white collar, suburban jobs. SJF will focus funding on businesses that provide inner city, blue collar jobs. Kirkpatrick said, “The fund will create 1500-plus jobs and help make recycling markets stronger.” [sorry this link is no longer available]

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Top UK Timber Trader Demands FSC Label

Meyer International, the UK’s largest timber trader, announced that it will only purchase FSC-certified timber. The UK is the second largest net importer of timber in the world, and Meyer is “central” to this industry, WWF UK forestry campaigner Steve Howard said. He predicted the announcement would have knock-off effects worldwide – Meyer sources timber from 40 countries. Meyer, which owns the Jewsons and Harcross chains, pledged that 80 percent of its timber will be FSC-certified within five years. According to Amanda Burton of Meyer, the firm has “always kept a close eye on the development of certification and now, as FSC is entering the mainstream we can see it presents an exciting commercial opportunity.”

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