There is a growing global movement that promotes the achievement of business and development goals simultaneously through a strategy known as “triple impact”. Investment in these types of companies is good business for the planet, society and companies.
As a result of the COVID-19 pandemic and the revelation of numerous problems for which society wasn’t prepared, people understood the need to look for sustainable reconstruction alternatives and to rethink the “model for a better society”.
Covidnation: Collaborative project.
In these times of crisis, great opportunities also arise. We find ourselves in a pivotal moment in history, where different actors of society are starting to unite to create “sustainable joint venture” models which can significantly contribute to reducing poverty and to promote the preservation of the environment. These initiatives and economic activities improve the well-being of humans and the environment in a profitable manner and this is good for the planet, society and companies.
This new approach is spreading across the globe and it is a good example of how economic growth, environmental sustainability and social equality can all be part of the same strategy.
In order to achieve a triple impact, a cultural change is required, commitments and sacrifices must be made, processes should be restructured, the whole value chain has to be rethought, alliances and ties with suppliers and partners redefined and lastly we should motivate and inspire people to understand the importance of all this for the common good.
More than 3,500 companies have already obtained the “B Company” certification in more than 70 countries.
A company must be financially healthy and successful for the people and the planet to thrive and these three aspects (see illustration) should be taken into consideration simultaneously. Moreover, the systemic strategies which are implemented have to be strengthened by methodologies that incorporate innovation into the whole value chain.
More and more companies are choosing to apply to become a B company. This recognition helps promote the incorporation of new measurement parameters in companies. B companies are obliged by law to take into account the impact they have on all concerned parties, including employees, clients, suppliers, community and the environment. This community of companies is driving a global movement of people who use business as a force for good and it demonstrates each day that the triple impact is good business for everyone.
At DMO we provide support for many companies which are joining the global change movement based on this triple impact and, with help of co-creation, we are working with them to reinvent their businesses and generate solutions to solve the biggest challenges in society by positively impacting on the planet.
Your company has the ability to contribute to the construction of a more inclusive economy and to innovate with high standards of social and environmental responsibility. To achieve this, it’s important to focus on understanding each problem individually and relate it to the global scenario. In addition, creative solutions should lead to sustainable businesses, growth and positive impacts on people’s quality of life.