December 4, 2020

After a tumultuous election, and an even more strenuous year, many organizations and individuals are rethinking the impact we have on the world. From the foods we eat to the clothes we buy to the policies our governments enact, how can we push for more socially responsible action? This year, there has been a spike in the amount of organizations turning to purpose to inform how they serve stakeholders and respond to challenges. Read on to explore inspiring calls to action, commitments, and innovations that aim to make tomorrow a better place for all...   

INSIGHTS | Young People's Plan For Biden 

Grist / Biodiversity Heritage Library / Amazon

DOWN TO BUSINESS

How a Biden administration could push companies further on climate

By Emily Pontecorvo on Nov 13, 202Millennials and Gen Z, 37% of US voters, are presenting the Biden administration with a clear challenge. A coalition of youth-led groups, spearheaded by Young Invincibles, created a 100-Day-Plan to push for policies on areas “long-overdue for change” – such as raising wages, lowering health care and higher education costs, reforming immigration, and addressing climate collapse. While bold, many aspects of the plan align closely with Biden's platform, such as its call to protect the Affordable Care Act, freeze deportations and raise the refugee cap, and recommit to the Paris climate agreement. Do you think pressure from young people can help keep Biden's campaign promises? Read more. 

ENVIRONMENT | Betting on the Planet

Investors are increasingly prioritizing environmental action. Last January, four asset managers asked investors to develop a tool to measure companies' impact on biodiversity. There aren't yet standard global metrics to measure this impact, but two recent initiatives may help change that. The Task Force on Nature-related Financial Disclosures, a new corollary to the Task Force on Climate-related Financial Disclosures, plans to redirect flows of finance at scale towards "nature-positive" outcomes. And two corporate reporting leaders (IIRC and SASB) announced they are merging to create one simplified ESG reporting framework, which may include both climate and nature. Meanwhile, the European Central Bank and the US Federal Reserve are asking lenders to account for climate risks, saying that better disclosure could help avoid financial system shocks. As more investors see that climate risk is business risk, we predict more nuanced approaches to nature-centric metrics to follow. 

DATA | Companies Value Social Impact

A new paper from Deloitte explores the value of corporate purpose. "Skeptics might say that leading with purpose is a luxury," reads the introduction, "but we believe [...] that purpose can be a way for thriving companies to return value to society." This sentiment was echoed in a survey last year that found only 7% of Fortune 500 CEOs believe their companies should “mainly focus on making profits." Based on a recent pulse report from Project Management Institute, companies tend to agree that when purpose is baked into all projects, it creates more meaningful impact. Deloitte's guide outlines four steps that business leaders can take when designing a purpose strategy: assess impact, act consistently, amplify benefits, and differentiate impact. Dig deeper here. 

BRAND ACTIVATION | Retail Brands Embrace Reuse

The secondhand clothing market is projected to jump from $28B to $80B in the next 10 years, and researchers believe that this growing trend could reshape the fashion industry for the better. Several retail brands – taking hints from secondhand sellers – are already seeking to extend the life of their garments. Barbour's 2020 holiday campaign celebrates the value of repairing used clothing, instead of purchasing something new (check out the video above). Several denim brands, such as Nudie Jeans, offer free repairs, while others, such as Eileen Fisher, Patagonia and Levi Strauss, have marketplaces for used clothing. Read about more retail brands extending the life of their products.

BRAND ACTIVATION | Committing to Plant-based Alternatives

Unilever launched its Future Food ambition to encourage healthier diets and reduce environmental impacts, which includes a €1B global sales target for plant-based meat and dairy alternatives in the next 5-7 years. Other targets include halving food waste from direct global operations and doubling the number of nutritious products by 2025. Furniture retailer Ikea is also embracing plant-based food options. It announced that all menus in its restaurants, bistros and food markets – which attract +680 million people each year – will be 50% plant-based by 2025. With Barclays projecting that the alternative meat industry will climb to $140B by 2029, it looks like Unilever and Ikea have tapped into a market that is not only good for business, but people and planet as well. 

INNOVATION | Lab-grown, Cruelty-free Chicken

The Chicken in Tel Aviv, Israel is the world's first restaurant to serve lab-grown meat. All of its chicken is grown from cells in a bioreactor next door. SuperMeat, the startup growing the cultured meat, doesn't charge diners for their meals. Instead, it's asking for feedback on its chicken to help improve the manufacturing process. Cellular agriculture could provide a cruelty-free, lower-emissions alternative to traditional animal agriculture, while still serving up the same taste and texture consumers crave. While cultured meat doesn't have broad regulatory approval, Singapore just became the first government to approve the sale of lab-grown chicken. Once more widely regulated, cellular agriculture could have the potential to rival plant-based meats and dairy alternatives. 

VIDEOS WORTH WATCHING | Triscuit's First Purpose-driven Campaign

Mondelez's cracker brand Triscuit launched the Missing Ingredients Project to help increase access to nutritious and affordable foods in food deserts. In the US, 19 million people live in food deserts – areas where at least 33% of the population cannot easily access healthy options. Triscuit is committing $3M over the next three years to support nonprofits working to address these nutritiously barren areas. This campaign reflects Mondelez's new marketing strategy called "humaning," which is a consumer-centric approach designed to create authentic, purposeful connections with people. Read more.  

Pioneering business and bioscience leader Saundra Pelletier embodies resilience and fortitude. In our most recent episode, she shares how her company, Evofem Biosciences, created the first-of-its-kind, hormone-free, on-demand prescription birth control gel. Saundra calls Evofem’s sole purpose its “soul” purpose—and that centers on bringing to market products that address unmet needs in women’s reproductive and sexual health.

Listen for insights on:

• How social issues and user insights can guide product development
• Why Evofem put social impact at the center of its business
• Why focusing on “the little things”—like kindness and thoughtfulness—can make all the difference

Other Recent Episodes: 

Episode 75: Patagonia is in Business to Save the Planet

Episode 74: Cox Enterprises Puts People and Purpose First

Episode 73: Talking Leadership, Reinvention and Entrepreneurship with Dorie Clark

Episode 72: Pioneering an Industry with Levi Strauss & Co.

SAVE THE DATE | The Purpose Calendar

We remain inspired by the organizations finding creative ways to connect digitally and continue the important work of collaborative, purpose-driven change. Please check each event's website for the most up-to-date information.

Interested in having Carol or one of our other talented partners speak at your event or hold a workshop? Let's chat!

DECEMBER 

• Fortune Brainstorm Design, Dec. 8, virtual, learn how design gives us tools to transform our world for the better
• Reuters The Future of Renewables 2020, Dec. 8-10, virtual, strategic leadership on investment, technology, and policy for the Green Economic Recovery
• Bloomberg Half The Sky, Dec. 9, virtual, discuss how to create a more equal and gender-balanced workforce
• The Conference Board Return to the Workplace Conference, Dec. 10, virtual, learn how to keep employees safe, supported, engaged, and productive as they return to the workplace
• Bloomberg Green Solutions Summit, Dec. 10, virtual, explore how to announce and fulfill a climate pledge
• CECP CEO Investor Forum, Dec. 10, virtual, discuss long-term planning, engagement, and the future of ESG
• The Conference Board Emotional Well-being Forum, Dec. 15, virtual, learn how emotional well-being is part of a  holistic approach to employee well-being, culture, and engagement
• Bloomberg The Way We Work, Dec. 15, virtual, discuss how to make work-from-home work for everyone

JANUARY 

• Reuters NEXT, Jan. 11-14, virtual, reimagine solutions to our most pressing challenges
• CES 2021, Jan. 11-14, virtual, a global stage to launch products, engage with brands and define the future of tech
• Cleantech Forum, Jan. 19-21, virtual, uncover the ideas transforming how we tackle the climate crisis 
• CECP The Evolution of Corporate Giving Budgets, Jan. 20, virtual, webinar on the evolution of corporate giving budgets in the past year

FEBRUARY 

• edie Sustainability Leaders Forum, Feb. 2-4, virtual, connect with leaders around solving the climate crisis
• CECP Disaster Preparedness, Feb. 9, virtual, webinar on how to incorporate disaster relief and response  
• GreenBiz 21, Feb. 9-11, virtual, explore the latest trends, tools and insights shaping sustainability
• Sustainatopia, Feb. 17-18, virtual, focus on accelerating business development + investment acquisition within social, financial and environmental sustainability & impact
• SBSI 2021, Feb. 24, virtual, explore how organizations can develop and build a world that is good for all humans