Moving the needle on ESG down under

“I’ve always had the entrepreneurial drive in me,” says founder Sydney Straver. When she found herself moving from her Dutch homeland to New Zealand last year, she decided to bank on it.

Having spent plenty of time down under growing up, Straver was familiar with New Zealand. And, drawing on her experience with ESG in Europe, she was well-placed to recognise a gap in the market. She set up &BLOOM, a self-funded venture helping companies and investors incorporate ESG and sustainability into their investment or business strategy, to fill it. 

ESG refers to Environmental, Social, and Governance factors used to evaluate how a firm’s operations impact both people and the planet, but also how sustainability issues can affect financial well-being.

At present, the majority of &BLOOM’s customers are based in Europe. Straver hopes to flip the balance soon, but as ESG and sustainability often lack formalisation in New Zealand investment and business strategies – and the processes and policies to support them – the company’s current focus is on education and sharing best practices.

“It’s been fun to say that ‘there’s regulation on this in Europe, and it’s probably coming your way’,” she says. 

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Straver sits down with Caffeine to reflect on the early days of her business. 

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What do you wish you knew starting out?

Acknowledging that people are here to help and a lot of people have been on a similar journey. 

On the entrepreneurial side, I should have gone to events earlier to learn from other entrepreneurs and exchange best practices. 

On the client side, ESG is relatively new in New Zealand compared to Europe. It’s a different way of approaching things. I should have put myself out there from the start, talked to clients, and shared insights. 

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What’s been unexpected for you in setting up? 

I’m from the Netherlands and had a great base there in terms of people. When I came to New Zealand, having lived here when I was younger, I had a good network, but it was not professional, and not very much in the private market domain, which is where my clients are. So, I’m starting from scratch, which has been time-intensive. 

The market is also more reserved here than in Europe, and I underestimated the necessary educational component. 

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Who have you worked with that’s been helpful? 

There are two sides to this – one personal and one work-related. 

My parents are entrepreneurs, and though it’s not really advice, they always gave me the space to figure out who I want to be and what I want to do. So that’s been empowering. As has my partner. 

Then, there’s my work. The nature of my job is that the clients constantly challenge me to become a better version of myself. I’ve been lucky to work with global leaders in the private equity domain and their portfolios and it’s driven me to be where I am today. 

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What’s a memorable piece of advice you’ve received? 

This ties back to my academic time. I did my master’s in strategic management and had this entrepreneurship lecturer who said: ‘If there’s one thing I need to teach you guys – and if you want to start a business – it’s all about luck.’ 

I always try to remember that when a day isn’t going well. I’ll just say, ‘today might not be my lucky day’.

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What advice would you give an early-stage entrepreneur? 

Not to always go for 100 percent from the start; always make sure you have a plan B. After leaving my previous job, I started doing freelance work on the side. I made sure I had a secure second income to fall back on if it didn’t go well. 

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What was your first entrepreneurial moment?

As a kid, I was always into Dragon Den; trying to think outside the box and whatnot. My first idea that actually turned into something was when I wrote a vegan cookbook while doing my master’s. It’s called Worth a Shot: Eating with Purpose. I never devoted enough time to fully make it something but it is still in a few bookshops in the Netherlands. 

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