Supporting innovative business
Innovative companies and organisations often develop hybrid models in the way they operate and find financial investments.
Traditional NGOs and Not for Profits are increasingly engaged in social enterprises and venture philanthropy.
Equally traditional for profit companies now operate as socially responsible businesses and have impact investments.
What you can do
As consumers, we play an active role in how we choose to buy from such companies.
How socially innovative are they being?
Which products and solutions will benefit and sustain people and communities locally or elsewhere?
What others have done
Not all innovative businesses are mega companies.
Many Small Medium Enterprises (SMEs) are adopting sustainable models of operating. Some have set up social enterprises where profit is channeled to help specific needs in society.
According to the World Economic Forum Social Enterprises can change entire industries.
This happens in three ways:
1. Raising the possible: showing that it is viable to do business more sustainably, providing inspiration for others and offering up new models that can be copied.
2. Raising the desirable: building the appeal of sustainable business models for consumers, employees and investors.
3. Raising the acceptable: changing the parameters of what is generally considered acceptable or not where it comes to sustainability and inclusiveness.
A checklist
Think about your own checklist.
What values do you want fulfilled when you go to invest or purchase?
Do I have a need for their design?
Will it be useful for the general population?
Are they fulfilling ESG requirements?
Are they socially responsible corporations?
Are they contributing to land regeneration and food security?
Are they solving CO2 and toxic pollutant problems?
What area of the UN SDG’s are they tackling with their innovations?
Are they participating in the Circular Economy?
What areas of The Doughnut model will they help to stop transgress?
Call for change
Where can you find some of the listings of socially responsible, green, and innovative businesses?
Look for listings of sustainable, green and fair businesses in your locality or country.
Check Forbes.com.
In 2020 they listed the 100 most sustainable companies. You still need to check them against ESG standards. Most of them are in Europe and North America with a few in Asia.
Check "The Ethical Consumer"
Without examining company websites and other data it is hard to say how engaged they are with circular economy and sustainability solutions.