Every Product & Service Will Have a Real Cost | Lubomila Jordanova | Plan A | firstminute capital

Crazy Until It's Not: Startups, Venture Capital & Big Ideas

On this week’s “Crazy Until It’s Not”, Lubomila Jordanova discusses her ‘crazy’ prediction that every product and service will have a real cost.
What does she mean by real cost?
At the moment, the price of products and services do not take into account their wider environmental and social impact. Ludomila gives the example of a t-shirt. Traditionally, elements which contribute to the final value of the garment include materials, production, transportation and distribution (to name a few). But we also need to consider ethical elements such as if the cotton fields are using environmentally friendly substances or the factory’s conditions for the workers.
Jordanova co-founded Plan A to do just that: help businesses achieve net-zero with their SaaS platform for carbon accounting, decarbonisation and ESG reporting. All in the hopes of helping these brands identify these ‘real’ costs.
In this episode, Lubomila talks about challenges around pricing environmental costs and ESG reporting, her advice for starting a new venture in the climate tech sector and why ESG is important from a financial perspective.