What can the Dales teach us about living and investing with purpose?
There's a special magic in the Yorkshire Dales. Admittedly, I am biased being a Yorkshire “lass” – but hear me out. Beyond the rolling hills and charming dry stone walls, this peaceful landscape has been around far longer than us. The rocks that dominate these valleys were laid down as marine sediments 350 million years ago and the stoic permanence of them, combined with the Yorkshire “be reyt” mentality (which ultimately translates to, “ah, it’ll be alright”), can be valuable reminders when we think about how we manage capital now and for future generations.
Despite our stubborn reputation, Yorkshire folk have navigated several periods of transition and reinvention over the years. Most recently during the eighteenth century, when the Industrial Revolution swept through the Dales and communities were transformed by the arrival of cotton and wool processing mills. Then followed the nineteenth century lead mining boom, which left lasting impressions on the Yorkshire countryside for generations.1
Once a necessary part of life, adaptability, resilience and entrepreneurial spirit have fostered a culture of self-reliance and innovation, providing a platform for those with a vision and the inclination to take a risk. Today, the majority of small businesses in Yorkshire are family run, community-focused and leverage local products and services – something they are rightly proud of. If you take the time to browse the shelves of a small Dales giftshop, you’ll find an array of goods produced on the doorstep, ranging from craft ales (shock), baked goods, pottery and chutneys (to name a few)! Sometimes, it’s the little things that make a difference, like coming across a small company who make bars of soap as beautiful as pieces of art. Not only do they look pretty, they’re local and each bar encapsulates a piece of the Dales, whether it be the Muker meadows in Upper Swaledale or a nod to the lead mining legacy of this area.
To give you context, I’m passionate about anything sustainable, whether it be buying local, promoting a circular economy or supporting social mobility. The Dales is a place where sustainability is deeply embedded. There are local farmers reducing emissions and promoting biodiversity through programmes like the sustainable farms initiative.2 Meanwhile charities, like the Yorkshire Dales Millennium Trust, make a tangible difference with extensive tree planting, habitat restoration and even a groundbreaking plastic tree guard recycling scheme.3 The focus is on long-term wellbeing – for the land, the wildlife and the communities.
Malton and Norton (two Towns based in North Yorkshire) are aiming to be the first in the UK with a circular economy. Volunteers involved with Circular Malton & Norton wanted to empower the local community from the ground up, advocating for environmentally and socially beneficial changes that also make economic sense. So far, 12 businesses have signed up to be part of the initiative, including a butcher sourcing all their meat from a 10-mile radius, a solar powered coffee roastery and independent shops offering refillable products for minimal waste. An anaerobic digester facility has also been planned in Malton, with food and biowaste being collected from local businesses and converted into renewable energy, powering the local enterprises and the facility itself. The project expects to create new local jobs and aid in sustainable agriculture through use of residual materials.4
Giving back to the local economy remains part of the appeal of supporting these initiatives – it promotes a sense of pride, which is more meaningful over the longer term and plays out by seeing your community thrive. There is an undeniable, emotional return on investment by being able to make an informed decision to do good, for your local economy, for the environment and for future generations.
At its heart, sustainability refers to the capacity to maintain or support a process continuously over time, without exhausting resources or causing long-term harm. Yorkshire’s love for tradition and heritage is echoed in local products, and the community spirit fosters social ties, creating hubs and building social capital (such as community ownership and shared identity) as a result. I like to think it is this sense of purpose and connection that has kept Yorkshire agile in its efforts to preserve its way of life, in its own methodical way.
A local example of sustainable investment is Yorkshire GREEN, a project run by National Grid which is upgrading the high-voltage electricity network in Yorkshire with the goal to improve the transfer of clean energy across the country, whilst supporting ambitious net zero targets set by the UK Government.5 The headline beneficiary will be the environment, but National Grid has also pledged to leave a lasting positive impact, allowing those communities hosting the improvements to flourish and to support a sustainable future. It also opens up potential for future opportunity and prosperity in the region.
There are four key areas that National Grid seek to spotlight in bringing benefit to local communities supporting the green energy transition:
Yorkshire GREEN is another instance of a project that targets the environment, while also improving the lives of the communities supporting the goal, through job creation and investment in the next generation.
Sustainability is personal - we all prioritise different aspects. So how can you reflect a sustainable mindset in your investment decisions?
There is a myriad of ways that sustainability can be incorporated in your portfolio. Whether that be the exclusion of potentially controversial investments or the inclusion of best-in-class, ‘green’ companies. You can go further and take on an impact mindset – where companies provide a measurable, positive impact to the environment and society. What is clear at least, is that companies who ignore any ESG considerations today are adding material long term risk to their investment case – and turning off investors at the same time.
A new era of investor consumer behaviours has meant sustainable investing may not represent the “price of having a conscience”, as it once did. Whether you’re a business or an investor, any stakeholder should now consider the price of not having one.
As the Yorkshire Dales can demonstrate, it can be a simple idea: using your money to do well by doing good. Most of the time, benefits are wider reaching than reduced carbon emissions, or a net zero target. By embracing simplicity, championing sustainability, and living with purpose, we can all cultivate a richer, more meaningful existence – and perhaps even build a better world, one purposeful decision at a time.
[4] https://circularmaltonnorton.org/
[2] Mayor launches first of its kind sustainable farms initiative > Mayoral Combined Authority
[3] Yorkshire Dales Millennium Trust | Working together for the Dales
[5] https://www.nationalgrid.com/the-great-grid-upgrade/yorkshire-green/about
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