2023 Year in Review

Dec 2023

The Underswell

2023

Year in Review

TABLE of CONTENTS 2023 Accomplishments

05

Favorite News Stories

09

Favorite Blog Posts

11

Holiday Gift Guide

13

Looking Ahead: 2024 Outlook

15

letter from the CEO “I can’t wait to see what 2024 brings!” - Derek I’ll start by saying that I hope you had a wonderful year. I hope too that each of the 12 months that 2023 afforded us brought something new and enriching to your life. For me, it was a bit of a roller coaster, but I’m ending on a high note and I’m very much looking forward to what’s in store in 2024.

It’s been such a pleasure sharing sustainability insights with you and to those of you who have partnered with us to learn more, and to better understand the rapidly evolving world of sustainability... THANK YOU. I can’t tell you how much your support has meant over these last few years (if you know any other entrepreneurs in your life, I’m sure you have an idea :)

In 2023 we enrolled more students, re-launched the podcast, found more consistency, and learned a LOT. New for me this year, was taking on a role of Senior Director at the sustainability strategy and communications agency, thinkPARALLAX. If you

don’t know about us, come check us out. That fact, however, doesn’t change much here at The Underswell. We’re still enrolling students in the School of Understanding, and still passing on knowledge as we gain it. Thanks for riding the wave with us again. See you next year!

2023 Accomplishments With its ups and downs, 2023 proved to be a challenging but rewarding year - thank you to everyone who was a part of our journey!

We started 2023 energetic and ready to help any brand, retailer, supplier, or organization committed to making sustainability a core function of the business. From returning clients to new connections, we have been fortunate to work with dedicated employees and leaders. New Balance has completed three Accelerator programs with us, with a fourth underway. One of our previous students from New Balance had these kind words to share: “Derek and his School of Understanding absolutely changed my outlook and life.

Sustainability and our on-going climate crisis are daunting to think about, Derek does an amazing job of grounding you in the reality of the world we have created all while instilling you with the idea that if we could create that world, we can create an even better future. As someone who works in a planning function, my role traditionally is not associated with sustainability but Derek, through this course, opened my eyes to the opportunity that every person has to impact how their organization operates.”

We also had the pleasure to work with the team at Compose[d], where we provided them with a quarterly sustainability presentation updating their team on the latest developments in the climate action, regulatory, and ESG spaces. Along with Compose[d], we connected with the sustainability team at ASICS and have graduated ten of their employees from our Level 1 training. We’re looking forward to working with Compose[d] and ASICS again in 2024!

In April, The Underswell team made our first appearance at SurfScape, an annual consumer-facing event getting all surf enthusiasts stoked on surfing. Hosted and organized by SIMA, we were graciously welcomed to the event where we connected with consumers and spread the word on climate action and sustainable fashion. From this event, we welcomed new members to the Crew and continue to grow our audience.

The cherry on top of 2023 was the re-launch of our podcast, Good Things Happening! After taking a couple years off, Derek got back behind the mic to sit with industry experts. From non-profts to social-purpose businesses, all of our guests shared invaluable insights and advice for anyone looking to have an impact career. A big thank you to all of our guests this year and we’re looking forward to the next round of guests slated for 2024!

Favorite News Stories The world made great strides towards true climate action in 2023 - as much as we’d love to feature all of the climate stories, we only have so much room!

We experienced the hottest year on record, an avalanche of new regulations, and largest investment in climate action in U.S. history - all in one year.

To say 2023 was an active year would be an understatement.

We spent the year researching and sharing the biggest news stories with our Crew members via our weekly newsletter, and while 2023 may have felt chaotic, there were good things happening around the world.

We kicked off the year with the unveiling of the KunmingMontreal Framework, a set of goals and targets designed to protect and restore biodiversity around the world. This was the first time ever that countries collaborated to create a pathway to ensure biodiversity thrives for generations to come. As we move into 2024 and beyond, we predict that biodiversity and nature-based solutions will become a hot topic among those in the climate space, and hopefully the Kunming-Montreal will provide us the roadmap we need to make real progress.

Speaking of progress, Fashion Revolution released their 2023 Fashion Transparency Index with some surprising results. The FTI is used to measure the fashion industry’s progress towards transparency across all phases of production and all aspects of the business. In this year’s report, we saw Fashion Revolution digging deep, asking questions about brands’ governance practices, biodiversity, equality, and resource management. The average score for the 250 brands rated was only 26%, showing the fashion industry has a long way to go to create a just, equitable, and sustainable system.

At the Federal level, we saw the Inflation Reduction Act dollars being put to work, with the Biden administration putting billions towards strengthening the electric grid, carbon capture, climate resilience and even a new jobs program designed to help the next generation gain access to climate jobs.

Consumers played a vital role in sustainability California has been hard at work on efforts this year. According to research conducted the climate front, unveiling a new

by NYU Stern Center for Sustainable Business, climate package and filing a lawsuit “consumers of all walks of life and political against big oil. The climate package persuasions are interested in products that includes SB-253, SB-261, and SBimprove their quality of life from a sustainability 252, all of which are targeted perspective, especially when connected to towards decarbonizing California. themselves, their family, and their community.”

The lawsuit filed by the state against the world’s biggest oil Textile Exchange released their annual Materials companies states that the fossil fuel Market Report and we were surprised by some of industry purposely deceived the the ways the industry chose to invest in materials public about the dangers of fossil throughout 2022. BCI continued to be a favorite fuels’ role in climate change. among certified cotton and virgin polyester Governor Newsom said “For more production continued to grow, whereas recycled than 50 years, Big Oil has been materials only made up 1% of the global fiber lying to us - covering up the fact market. that they’ve long known how dangerous the fossil fuels they 2023 was a tug-of-war in terms of sustainability produce are for our planet. and climate action news, but we’re eager to see how California taxpayers shouldn’t have the movement develops in 2024. Volatility is to foot the bill for billions of dollars expected, but support will surely grow across all in damages.” markets.

Favorite Blog Posts Our blog has grown over the past year, and as we’ve explored unique topics, we’ve learned a few things along the way.

Is This the End of Corporations?

01

Inflation, rising cost of living, declining quality of goods, and unsustainable business practices have many consumers shifting their purchases from corporations to local and small businesses. Can corporations survive in these changing times or will small businesses come out on top?

Aesthetics Are In - Is Sustainability Out?

02

Trends are so last season! As Gen Z and Generation Alpha come to dominate the market, we’ve seen a shift away from trends towards a new form of consumerism - aesthetics. From tomato girl to gorpcore, explore how aesthetics came to be and what it all means for sustainability.

Can Embellishments Ever Be Sustainable?

03

Embellishments were the trend for 2023, with everyone from Reformation to H&M participating. But, embellished garments come with their challenges, especially at end of life.

Can embellishments ever be sustainable or are we better off leaving this trend behind?

Externalities Are All Around Us - Why Do We Keep Ignoring Them?

04

Home insurers exiting states, energy companies raising rates, and countless other impacts felt by consumers are the externalities of the biggest companies around the world. Exacerbated by climate change, these externalities will only grow in the coming years.

P-22, Biodiversity, and Human Impact

05

In early 2023, we saw the loss of California’s famous mountain lion, P-22. A symbol of California’s biodiversity and balance between development and nature, P-22's legacy represents all the reasons why protecting global biodiversity has reached a dire status. Can we have economic development while still protecting natural capital?

HOLIDAY GIFT GUIDE Some old friends, some new finds... here are our favorite products of 2023!

The holidays typically don’t go hand-in-hand with sustainability.

We’ve probably all seen debates online about whether getting a real tree or an artificial tree is more sustainable, right? Balancing the holidays and sustainability doesn't have to be hard, which is why we’re lending a helping hand with a few of our favorite ethical gift ideas for everyone on your shopping list. Shop the full list here.

The R-Series surfboards from Almond have been a growing favorite among surfers from far and wide. Besides being fun, durable, and extremely lightweight, the R-Series boards are 100% recyclable. Almond has a great take-back program in which customers drop off their old R-Series boards and receive a $50 voucher for keeping boards out of landfills.

Grab a cozy PJ set from Swedish brand, Djerf Avenue. A favorite among Gen Z consumers, Djerf Avenue was created by Swedish model Matilda Djerf with sustainability in mind. Featuring organic cotton, TENCEL, recycled polyester and more, Djerf Avenue is in the early stages of, but committed to, their sustainability journey.

It wouldn’t be a holiday gift guide without including the National Park Pass. Whether you’re an avid outdoors person or you’ve never been camping in your life, everyone deserves the opportunity to see America’s National Parks. Build family memories or enjoy solitude in nature while also supporting the conservation of these parks.

Instead of going the material route, consider giving the gift that keeps giving - small business lending through KIVA. Help entrepreneurs in developing nations gain access to economic freedom through microfinancing.

If someone on your list is eyeing a career in sustainability, enroll them in our foundational course. Designed to help everyone from retail associates to C-Suite, gain knowledge of the sustainability must-knows, our course will help kickstart their impact career journey.

2024 Outlook We’re looking forward to having you on the journey with us into 2024 and we can promise this year will be full of energy, learning, enthusiasm. Building connections, developing new resources, and creating value for our Crew members are our top priorities moving forward into the new year.

We’re committed to providing further educational value to our Crew members, which is why we’re in the process of creating a new resource guide centered on climate legislation around the world. The changing landscape of regulations is understandably stressful and challenging to navigate.

Recognizing this, we’re researching legislation ranging from communications and marketing to waste management and everything in between to help you and your team navigate the new era of sustainability.

We have openings throughout 2024 for organizations interested in enrolling teams in our Accelerator experience. A 12-week, guided program, the Accelerator will get your team the foundational and industry-specific knowledge needed to become effective agents of change. Seats are open to all departments and all experience levels, with multiple time slots available. If you’re interested in learning more about our Accelerator program, please schedule a call with us here.

Our podcast will continue to grow in the new year, and we’re excited to roll out our new round of guests in the coming weeks. If you’re interested in being on our show or have someone you would like to recommend, please fill out our interest form.

We’re grateful and stoked to have an amazing community of Crew members who have supported us over the years, and who continue to support us in our ongoing endeavors. We hope you have a wonderful holiday season and a happy new year!

Thank You!

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