Unlocking scalable technology solutions to address the growing urgency of climate change is key to a decarbonized economy. Regions, like Chicagoland, are ground zero for climate change, and the mission of the Chicagoland Climate Investment Alliance is to see our region thrive in the future as a global hub for climate tech.
The oft-asked question is ‘what can we do?’ and we’re here to share that Chicagoland businesses can contribute towards a circular economy through the Reuse Marketplace. Rheaply estimates an astounding “70% of all carbon emissions can be abated by transitioning to a circular economy.” The lifecycle of a product can be extended through this new model of product creation and consumption, without wasting time and resources on messy supply chain systems and disposal.
Software such as Reuse Marketplace, play an important role in creating even more interconnectedness across Chicago industries and verticals as businesses recapture local assets and integrate them into their pipelines. Businesses can seamlessly share or sell these items to fellow local businesses and nonprofits through a secure platform, diverting surplus from landfills.
The current market size for Chicagoland’s green economy is estimated by the World Business Chicago Research Center to generate over $18 billion in output in 2022 and has shown 180% growth in just six years (Chicagoland’s Green Future). There is also an undeniable talent pipeline, technology and innovation in Chicagoland to fuel the green economy forward.
The strong business case for amplifying climate tech innovation, and the rapidly impending need for a sustainable future are key reasons World Business Chicago and the Chicagoland Climate Investment Alliance enthusiastically support the Chicago Reuse Marketplace.
On December 7th, 2023, members of World Business Chicago business development team, Joanna Madigan and Alexandra Oleksiuk, celebrated the official announcement of the Reuse Marketplace at the, “Roarin for Reuse” launch event held at the iconic Field Museum.
“We were honored to attend and celebrate the dedication of the Rheaply team in their successful launch of the Chicago Reuse Marketplace,” said Joanna Madigan, Business Ecosystem Lead at World Business Chicago. “And connect with other members of Chicago’s sustainability focused ecosystem. Chicago is lucky to continue to be a place where visionary leaders like Garry Cooper, who are committed to adaptive solutions to today’s problems come to work on solutions together.”
Two major Chicago institutions have been using Rheaply to keep assets such as lab equipment, furniture and other supplies in production and out of landfills. Rheaply reports:
A week later on December 14th 2023, Kyle T. Schulz, Chief Growth Officer at World Business Chicago and head of the Chicagoland Climate Investment Alliance, joined as a panelist on the CivStart webinar on the critical role of cities play in sustainable action, with climate – champions:
“Garry Cooper, CEO of Rheaply, is an exemplary figure in the innovative landscape of Chicago, showcasing the city and region’s vibrant entrepreneurial spirit,” said Kyle T. Schulz, Chief Growth Officer, World Business Chicago. “By pioneering an online platform that promotes resource sharing and circular economy principles, Rheaply sets a crucial example for businesses worldwide, offering a sustainable path forward for conserving valuable resources and reducing waste on a global scale.”
The Chicagoland Climate Investment Alliance launched in October 2023 and was announced at the Chicago Venture Summit Future-of-Climate-Tech by World Business Chicago held at 167 Green, with the mission of supporting the commercialization of climate technologies & strengthening the region’s innovation ecosystem in order to address climate challenges.
The Chicagoland Climate Investment Alliance aims to strengthen the region’s innovation ecosystem in order to address climate challenges through technology and innovation. The founding members are the State of Illinois, World Business Chicago, City of Chicago, Evergreen Climate Innovations, Invenergy, ComEd, Nicor Gas, P33 Chicago, People’s Power & Gas, LLC, and JLL.
Learn more about the Chicagoland Climate Innovation Alliance founders and coalition, how Rheaply’s sustainable initiative is supporting Chicago’s small businesses community, the research behind Chicagoland’s green economy, and the Future of Climate Tech: Innovator Vodcast series, below.