Values-Focused Businesses
Businesses don’t need certifications or legal statuses to operate for a public good, however, attaining these is one way to substantiate and strengthen your company’s perception by consumers, investors, and current or prospective employees.
- The majority of Generation Z shoppers prefer to buy sustainable brands, and most are willing to spend 10% more on sustainable products.
- 75% of Millennials are eco-conscious to the point of changing their buying habits to favor environmentally-friendly products.
- 89% of investors consider ESG in investment decisions
The following snapshot shows types of values-forward businesses. These are not mutually exclusive, and companies can begin pursuing specific aspects before fully diving into one or the other.
- Social Enterprises: Social enterprises are an alternative to commercial enterprises in that their business activities result in achieving both financial and societal goals. Profits are reinvested into a social or environmental mission instead of a payout to shareholders.
- Example: A company that donates one item for every item sold. Profits are still made on the items sold, which are then put back into the operations of donating.
- Benefit/Public Benefit Corporations: This is a specific legal status for corporate entities. Different states in the U.S. have different definitions and may use slightly different terms, which you can see in the legislation passed by the respective state. Benefit Corporations include stakeholder governance clauses that allow the company to consider actions based on their effect on other stakeholders, not just their shareholders.
- In Delaware, public benefit corporations must identify specific public benefits they will uphold in their business purposes. Public benefit is defined as a positive effect or reduction of negative effects including but not limited to the following: artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious, scientific or technological.
- B Corps: This very comprehensive certification evaluates all parts of a company’s activities, resulting in an impact performance score. If high enough, the company can pursue all additional necessary requirements to be B Corp Certified. Companies are held accountable by the nonprofit organization B Lab, which recertifies a company’s status every three years.
B Corps Assessment - Where LiquiDonate Can Help
By using LiquiDonate, companies can take action in reducing their downstream emissions, interacting with communities in need, and reducing waste often associated with complexities in warehousing, logistics, and excess inventory. We can help provide information for the following topics in the B Impact Assessment:
- Civic Engagement and Giving
- Significant Suppliers
- Scope 3 Greenhouse Gas Emissions
- Monitoring and Managing Waste Production - Reducing Waste
- Managing Product Impacts on Customers
We are proud to have current and prospective B Corp companies among our clients. Certified B Corp Room&Board is an example of a company using LiquiDonate as a tool in their efforts to reduce waste.
Get Started Now
You don't need to be a B Corp or have another social impact certification to get started with us. We’re here to help you build donations to be a foundational part of how you do business for good, or begin tracking metrics for ESG goals. If you are already a B Corp or Benefit Corporation, we can help reinforce your commitments through the use of our platform. All LiquiDonate clients receive specialized impact reporting to help you meet your goals and demonstrate your commitment to making a meaningful difference in all of our communities. Contact us at sales@liquidonate.com today to learn more.
