5 companies which perfectly balance profit and purpose

Here at The World We Want, we believe that Corporate Social Responsibility (CSR) should be more than just a tick in a box. If we are to accelerate progress towards achieving the UN Sustainable Development Goals (SDGs) by 2030, it is important that organisations from around the world are putting CSR at the front of their agenda. By making them more accountable for their actions, companies will be put under the spotlight for how well they are abiding by the CSR policies.

It has been proven that companies can profit from helping to make the world a better place and advocating for what means the most to them can certainly see them reap the rewards. For some companies, CSR is the heartbeat to continued innovation, helping others and ensuring that they remain ahead of their competitors.

Here are five companies who perfectly balance purpose with profit and set the standard for achieving the SDGs.

 

Lego

The Lego Group has won many plaudits for its CSR efforts in recent years. The plastic toy production company has consistently changed its approach to how it produces its famous product. Lego has proudly advocated the values of sustainability, education, and societal contributions. With plastic often seen as one of the major factors contributing towards environmental damage and climate change, the company replaced its plastic materials with plant-based plastics from sugarcane, while it also cut its partnership ties with companies who contribute negatively towards the over environment.

Lego also launched a new “Research Institute” collection featuring female scientists including a female chemist, palaeontologist, and astronomer following a letter from a young girl asking why there were not many “Lego girls” in the toy collection.

 

Microsoft

Microsoft has made greater efforts to inform about product updates and bugs while it has improved its reputation by making sure to empower every person and every organisation on the planet to do more to help make it a better place. This mission has led to a better connection with its customers and drawn it closer to its purpose and ethics. As a result, Microsoft has greatly benefitted from leading the way in changing the world for the better.

 

Nike

Since the rise of the BLM movement in 2020, Nike has been one of the companies which has vowed to do more to tackle racism and inequality, however their efforts to fight against prejudice go even beyond that. In 2018, In 2018, Nike launched a bold advertising campaign with American football star Colin Kaepernick, who was dropped by the NFL after taking a knee during the national anthem in 2016 in protest against police brutality. This sent shockwaves around the world and really began to cement the platform for change when it comes to racism. Despite criticism and those threatening to boycott the company, Nike stood by its stance and has not looked back.

With the BLM movement gathering more momentum, Nike has consciously made more efforts to support black communities. This also includes a pledge of $40 million over the next four years to “support the black community in the US.

 

TOM’s

The popular shoe brand has been doing CSR before it was cool! It is arguably one of the shining lights when it comes to CSR. The company has always prided itself on its ability to make a difference to those in need and shows no signs of slowing down.

Its CSR policy could not be clearer – to donate a pair of shoes for every pair they sell to children in poverty. So far, the company has donated more than 60 million pairs, while company profits are used to help the visually impaired with prescription glasses and medical treatments that they are unable to afford. and has resulted in the donation of over 60 million pairs of shoes to children in need.

TOM’s also work to provide clean drinking water to impoverished communities, while it also fights bullying by working with several non-governmental organisations and non-profits to set examples of ethical behaviour for the rest of the world.

 

Lemonade

The leading insurance company doesn’t just care about the greater good, it makes sure its customers do too. To make insurance a cause for social good, Lemonade launched the Lemonade Giveback to encourage others to donate to causes. When a customer takes out a policy with Lemonade, they are additionally asked to select a non-profit that means the most to them. From this, Lemonade adds up all the unclaimed money left from policies and donates it to the charity the customer has chosen. In 2020 alone, they donated as much as $1.1 million to several charities emphasising a quick and effective way of making a difference without breaking the bank.

 

Today, we are seeing more and more companies dedicate themselves to things that mean a lot to them, including embedding it within the framework of their very business. By putting their money where their mouth is, companies are bringing about change that had so far been neglected. Organisations have the immense power to help achieve the SDGs and effective CSR policies are a way of doing it. As these companies above have shown, they can be incorporated in many different ways and go towards helping address the world’s most pressing issues. In turn, these deeds really resonate with employees and customers alike, allowing them to grow alongside a more prosperous society.