Avsnitt
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Glen Delaney is a project director at the nonprofit Earth Economics. Earth Economics quantifies and values the benefits nature provides, driving effective decisions and systemic change through a combination of education, natural capital analysis, and policy recommendations. As businesses begin to explore their impact and dependency on nature, valuation is a useful tool for integrating nature into their existing frameworks.
In his role, Glen works with climate-impacted communities, tribes, and governments to value ecosystem services—the benefits created by nature—translating their work protecting and restoring nature into a dollar figure.
In this episode, we discuss:
● What “ecosystem goods” and “ecosystem services” are and why they’re valuable
● How and why businesses are starting to value nature
● Frameworks that help businesses embed nature into their strategy and decision-making
Key Takeaways:
● The Economic Wake-Up Call from Nature. The conversation around nature’s value is growing louder, especially as we confront a critical juncture where environmental degradation and climate change start to hit our wallets. Look at California, where leading insurers like State Farm and Allstate stepped back from renewing homeowner policies in 2024 due to increasing risks. This move strips individuals of coverage, leaving them to face financial vulnerabilities on their own. Companies too are grappling with the tangible impacts of climate change, from droughts affecting manufacturing to unpredictable crop yields in supply chains. It’s a stark reminder of an old adage: we often fail to appreciate what we have until it’s under threat. Our collective delay in valuing nature’s gifts is now being countered with the harsh reality of its decline, signaling an urgent call for environmental stewardship.
● Climate Change: The Economics of Health Impacts. The repercussions of climate change extend well beyond financial losses, touching the very essence of our well-being. Health insurance companies are also considering adjusting premiums to reflect the increased risks associated with environmental shifts. Wildfires deteriorating air quality, extreme heatwaves, and out-of-character flooding are translating into higher medical claims and hospitalizations. Droughts leading to wildfires not only claim lives and devastate communities but also jeopardize access to healthcare, contaminate water sources, and degrade air quality far beyond the immediate areas of the fires.
● A Global Domino Effect: From Migration to Food Security. While the U.S. may not be grappling with climate-induced migration or food security yet, the global nature of our supply chains and the pandemic have highlighted our interconnectedness. Events unfolding across the globe offer a glimpse into potential future scenarios closer to home. Our global interdependence reminds us that the impacts of climate change are not confined by borders.
References:
Connect with Glen on LinkedIn
Earth Economics
The Natural Capital Protocol framework by Capitals Coalition
Task Force for Nature-related Financial Disclosures
inVEST by the Natural Capital Project, Stanford University
The Nature Conservancy
Kresge Foundation
Soil and Water Outcomes Fund by Quantified Ventures
Avahoula Climate Mitigation Project with Pachama & Delta Land Services
Stitching the West Back Together: Conservation of Working Landscapes, edited by Susan Charnley, Thomas E. Sheridan, and Gary P. Nabhan
Purpose and Profit episode with Fawn Bergen, lead of Intel’s Corporate Sustainability Group
Ecosystem Services Valuation Database (ESVD)
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Senan Ebrahim is a physician-scientist and entrepreneur dedicated to creating technology to improve global and maternal health. Senan is the founder and CEO of Delfina. He developed Delfina to create lifesaving AI-powered pregnancy care after personally witnessing the challenges faced by pregnant patients and their care teams.
Senan previously founded Hikma Health, a tech nonprofit creating digital health solutions for refugees, migrants, and other vulnerable populations. He has an MD and PhD from Harvard in Computational Neuroscience
In this episode, we discuss:
● Why the United States has the highest rate of maternal mortality in the developed world
● Why maternal health inequity exists across populations
● The importance of data for better decision-making (and better health outcomes)
Key Takeaways:
● Change Takes a Village - Real change, the kind that reshapes systems, is a team effort. It thrives on a network of individuals across the whole system that are ready to rethink, test, and collaborate to create better solutions for us all. Senan's initiative with Delfina in maternal healthcare shines a spotlight on this truth. Senan is the first to acknowledge all of the partners that have shaped Delfina’s journey. From doctors willing to pilot a new idea, to users offering feedback for refinement. The truth is, that it takes a village to create systemic change.
● Tailoring Solutions to Fit the User - The principle of one size fits all falls short in addressing complex human behaviors, especially when it comes to health and wellness. Delfina's approach to maternal healthcare highlights the importance of understanding and respecting individual risk, environment, and challenges. By integrating recommendations that resonate with the individual's daily life and cultural context, Delfina makes behavioral change more approachable and sustainable. This sensitivity to the nuances of the user experience isn't just thoughtful—it's effective, bridging the gap between knowledge and action in meaningful ways that create better outcomes for all.
● Closing the Gap Between Us and “Other” - Refugees are often painted with broad strokes that obscure their individuality and humanity. Senan mentioned his grandmother was a Syrian refugee. My family is intertwined with narratives of displacement and resilience as well. From my father and grandparents' escape from Lithuania during WWII, to my sister-in-law’s flight from war-torn Cambodia. Each story is a testament to the human spirit, and each story reminds us that the plight of refugees is not a distant issue; it's woven into the very fabric of our communities. By bringing these stories into the light, we bridge the gap between 'us' and 'them,' transforming refugees from abstract concepts into fellow humans deserving of empathy, dignity, and support. The more we share stories of displacement, the more the refugee crisis moves out of the shadows of “someone else’s problem to solve”, and gently nestles into our interconnectedness, asking us to care for our fellow humans.
References:
● Connect with Senan on LinkedIn
● Delfina
○ Learn more about Delfina’s collaboration with the Mayo Clinic here
● Hikma Health
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Saknas det avsnitt?
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Shola Richards’ life’s mission is an ambitious one: To end generations of professional suffering, simply by changing how we treat each other at work. An advocate for positive change, Shola addresses the often-ignored issue of workplace bullying by highlighting its impact on trust, communication, and company resources. With a focus on unveiling the cost of toxic behaviors, Shola offers practical solutions for creating healthier work environments.
At his core, Shola is an advocate and humanitarian, guiding us back to our shared humanity. Shola shares his insights as a speaker, coach, consultant, and author. His work includes the best-selling books Go Together and Making Work Work, with a third booking coming out in late 2024.
I met Shola a year ago at an incredible NLP (Neuro-Linguistic Programming) workshop. I immediately gravitated toward his genuine warmth and openness. Shola is a remarkable human-being, making a huge impact.
In this episode, we discuss:
● The transformative power of sharing mental health stories
● The importance of practicing civility in modern-day discourse
● The often-overlooked distinction between being nice and being kind
Key Takeaways:
● Embracing Ubuntu: "I Am Because We Are". Imagine a world where we live by the profound ethos of ubuntu, an African philosophy that teaches, "I am because we are." This philosophy illuminates our inherent interconnectedness. It suggests that our humanity is inextricably linked to the humanity of others, and that our personal well-being is anchored in the collective well-being of society. Shola's exploration of ubuntu in Go Together suggests that adopting this worldview could revolutionize our approach to life, work, and leadership. Ultimately, transforming the world around us.
● Cultivating Culture: A Collective Responsibility. We are all collectively responsible for the culture we live in, the culture we work in, and the culture we’re passing down to the next generation. Simply put, culture is just a collection of the norms we accept, or no longer accept. Culture is powerful because it permeates everything. Seeping into how we behave, how we view the world, and how we view ourselves. What we have compassion for and what we judge. What cultural norms don’t feel right to you? When have you felt like you had to “play the game” when your insides were boiling or crumbling? What if, next time you felt that way, you took a deep breath and said “That didn’t sit well with me. Can you please explain what you meant?”. This could invite a courageous dialogue that might just help pave the road to a better culture.
● Protecting the Heart of the Workplace: Listening to the Empaths. In environments that feel cold and disconnected, those most in touch with their humanity—the empaths—feel the impact most sharply. They are the canary in the coal mine, alerting us to psychological hazards that lurk within toxic cultures. For leaders, the call to action is clear: listen and respond. Ignoring toxic behaviors erodes morale, diminishes trust in leadership, and questions the organizational commitment to employee well-being. Remember, your employees are building your company's future. Their success is your success. As leaders, it's your job to foster a nurturing environment where every team member can thrive, innovate, and excel.
References:
● Connect with Shola on LinkedIn
● Shola’s website
● Books by Shola:
○ Making Work Work: The Solution for Bringing Positive Change to Any Work Environment
○ Go Together: How the Concept of Ubuntu will Change How We Work, Live and Lead
● Keep an eye out for Shola’s next book due out September 2024
○ Civil Unity: The Radical Path to Transform Our Discourse, Our Lives, and Our World
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Dr. Cassandra Zentner is the Vice President of Technology and Sustainability at actnano, the global leader in PFAS-free nanocoatings used to protect circuit boards across industries. Actano was created after the CEO, while working at a different company, saw factory workers getting sick from handling traditional coatings. Actnano’s technology is currently protecting many of the world’s foremost consumer electronic brands, safeguarding millions of vehicles, and defending numerous industrial applications against harsh electrical and environmental conditions.
Cassandra leads actnano’s implementation of innovative protective materials. While driving customer-focused technical initiatives, she also leads the company’s sustainability efforts and commitment to protecting human health and the environment. She brings her scientific background—a PhD in Chemistry from MIT—to drive actnano’s mission to bring safer chemical alternatives to the electronics industry.
In this episode, we discuss:
● PFAS—what they are and why they present a huge problem
● The meaning of “safer chemicals”
● The importance of prevention versus mitigation
Key Takeaways:
● Takeaway 1: Innovating Out of a Broken System. When actnano founder Taymur Ahmad noticed the harmful impact of PFAS in protective coatings, he didn't just stand by. He saw a broken system as a call to action. A puzzle to be solved. By developing PFAS-free nano-coating he stepped up as a true innovator, showing us that discovering a broken system is the first step towards creating a solution. It's a reminder that the world benefits immensely from changemakers like Taymur, who not only dream up safer alternatives but also pave the way for others to adopt these groundbreaking solutions in their operations.
● Takeaway 2: The Invisible Threats Among Us. We're naturally drawn to the big, obvious problems. The proverbial elephant in a room. Yet, it's often what we can't see that poses the greater danger. PFAS, a prevalent yet invisible threat found in countless everyday items—from electronics to personal care products—carries serious health risks, including certain cancers, fertility issues, and developmental delays in children. This hidden danger reminds us that sometimes the most significant threats to our well-being lurk out of sight, challenging us to look beyond the obvious.
● Takeaway 3: Out Of Sight, Out Of Mind. Then there are the enormous issues we choose to ignore, like the Great Pacific Garbage Patch, an immense span of waterborne waste twice the size of Texas, floating in the middle of the Pacific without much attention. This "plastic continent" is a stark example of "out of sight, out of mind," yet its impact on our health and environment is profound. Microplastics, including those containing PFAS, break away from this mass, infiltrating the seafood we eat and carrying with them a host of health risks. It's a clear signal that just because we can't see a problem, or a problem feels far from home, doesn't mean it's any less real or harmful. This unseen danger serves as a critical wake-up call to the interconnectedness of our global ecosystem and the hidden impacts on our health.
References:
● Connect with Cassandra on LinkedIn
● actnano
● EPA page on PFAS
● ChemSec
● North Carolina DEQ page on the Cape Fear River
● Change Chemistry
● EU page on REACH Regulation
● EU page on RoHS
● Purpose and Profit episode with Ken Cook of the Environmental Working Group
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Sam Shiroff is the Senior Director of Global Sustainability for EnerSys. A multibillion-dollar business serving over 10,000 customers in 100 countries, EnerSys is an industrial technology leader offering stored energy solutions that meet the growing need for energy efficiency, reliability, and sustainability. The company’s purpose is “Powering the Future, Everywhere for Everyone”.
Sam combines 20+ years of international corporate ESG, sustainability, and community relations experience with a deep knowledge of carbon finance, energy efficiency, and the nonprofit world. Sam has held leadership roles in sustainability at nonprofit organizations and companies including Bosch, Deutsche Bank, and Signet Jewelers. He was a Fulbright Scholar to Germany, has an MBA, a Creating Shared Value (CSV) accreditation from Harvard Business School, is a LEED Green Associate, and is Global Reporting Initiative (GRI) accredited.
In this episode, we discuss:
● The role of batteries in transitioning to a renewable energy future
● The enormous electronic vehicle market you never considered
● An unexpected gold standard case study in the circular economy
Key Takeaways:
● Climate Tech – A Marriage of Growth and Sustainability. It's so cool to see companies—like EnerSys—whose business success is intrinsically linked to reducing carbon emissions. Their success is a barometer of our collective progress in battling climate change. The more we excel in this fight, the more they thrive. What if all companies had their individual thriving tied to our collective thriving? How would the world look differently? This is a model of growth that raises all boats with the tide.
● The Ebb and Flow of Energy Consumption. I loved the description on how the power grid works—it's an exercise of balance, matching the energy poured in with what's drawn out. Consumer demand for energy is not consistent throughout the day, which is a challenge, but it’s also cool to note that people are using the most energy during the day, and when solar energy is available. It’s neat that our own productive cycle mirrors nature’s in this area.
● The Many Gifts of Environmental Reporting. Sam's insights into environmental reporting sheds light on its multifaceted benefits within organizations. It's not just about compliance or public image; it's a tool that crystallizes sustainability strategies. It aligns teams on key metrics, sets benchmarks, and maps out ambitious goals. More importantly, it ensures a consistent focus on long-term progress and keeps the entire team engaged in the sustainability journey. When done right, environmental reporting acts as a compass guiding organizations towards a greener, more responsible future.
References:
● Connect with Sam on LinkedIn
● EnerSys
● International Renewable Energy Agency (IRENA)
● Ridwell
● Call2Recycle
● Task Force on Climate-Related Financial Disclosures (TCFD)
● Climate Disclosure Project (CDP)
● United Nations Global Compact
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Amelia Nickerson is the CEO of First Step Staffing, an organization that connects people experiencing homelessness, veterans, and recently incarcerated individuals to sustainable employment and income. The First Step team has created an ecosystem for success, coordinating closely with other nonprofits to help provide clients with resources and services such as housing, healthcare, childcare resources, transportation, food, and clothing needs to develop a stable path out of poverty and homelessness.
First Step has successfully replicated the Atlanta-based model they started in 2007 to become the largest nonprofit staffing agency in the U.S., with operations in seven states. They employ more than 1,900 individuals weekly and in 2022, 75 percent of their staffing placements were actively experiencing homelessness, and 25 percent were recently incarcerated.
In this episode, we discuss:
● Untapped talent waiting to fill your labor shortage
● The power of solving social challenges through a business framework
● The importance of avoiding mission creep
Key Takeaways:
● Blending Worlds – Nonprofits and Businesses Learning Together. Imagine a nonprofit moving with the agility and strategic growth mindset of a tech startup, reaching more people, creating greater impact. Now picture a corporate giant, inspired by the heart and purpose of a grassroots organization, igniting passion and commitment in its team. This is the essence of cross-sector learning. Nonprofits using business strategies can scale their impact, ensuring their cause isn't just a flash in the pan but an enduring beacon of change. On the flip side, businesses adopting a nonprofit’s purpose-driven approach can see a transformation in their workforce. It's like adding a soul to the corporate machine; employees are no longer just working for a paycheck, but for a purpose. This cross-pollination of approaches between nonprofits and businesses isn't just beneficial—it's a powerful catalyst for sustainable growth and genuine engagement.
● Reframing Challenges into Opportunities. How we frame a situation can transform it. Take, for instance, the employment of individuals with past criminal records. Viewing this as businesses benefiting from the untapped potential of these individuals, rather than doing them a favor, shifts the entire narrative. The statistics are compelling—$87 billion in GDP is lost from 1.9 million workers excluded due to criminal backgrounds. The unemployment and underemployment rates for formerly incarcerated individuals are staggering, and yet, those who find employment have a 70% lower rate of recidivism (i.e. reentering the prison system). They’re not just employees; they often become dedicated, fast-learning members of the workforce. It’s about changing the story from charity to opportunity, from exclusion to economic empowerment, from broken communities to thriving lives.
● The Power of a Focused Purpose. There's a lesson to be learned from the Swiss army knife: trying to do everything can mean excelling at nothing. In business and life, it's easy to stretch yourself too thin when attempting to be a multi-tool. However, true effectiveness comes from honing in on your core purpose and core skills. Follow the example of First Step Staffing, and avoid mission creep. Stick to your core focus and you'll not only do it well, you'll do it exceptionally. This approach is the key to making a meaningful impact.
References:
● Connect with Amelia on LinkedIn
● First Step Staffing
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Ken Cook is the president and co-founder of Environmental Working Group (EWG), whose mission is to empower individuals with breakthrough research to make informed choices and live a healthy life in a healthy environment. EWG lives its mission by empowering American families with easy-to-use, data-driven tools to help reduce their exposure to potentially harmful ingredients in everyday products like foods, personal care products, cosmetics, and cleaning products.
Ken testifies regularly before House and Senate committees, and for the past 20 years has briefed top White House officials and every U.S. Secretary of Agriculture and EPA Administrator on EWG’s research and policy positions. In the 1990s, EWG’s research was a major factor in the passage of the landmark pesticide reform law, the Food Quality Protection Act.
In this episode, we discuss:
● Why products containing harmful ingredients are sold in retail outlets across the USA
● The changing landscape of environmental policy in the USA
● The power of the Internet to create transparency and empower consumer choice
Key Takeaways:
● Investing in Progress, Not Stagnation - I wonder about the mountains of money poured into lobbying since 1996 to keep industries unregulated, clinging to a harmful status quo. Imagine, for a moment, if those funds were instead channeled into innovating for a better future. Where we direct our resources is a choice between stagnation and evolution. It's high time we bravely choose to evolve, not just for our sake but for the generations to come, shaping a legacy that’s woven together with pride and progress.
● Toxic Products – A Call for Responsibility - It’s wild to me that a lot of products on store shelves contain known toxic ingredients. Known carcinogens as ingredients. The burden of screening products for safety should not be placed on the consumer, it should be placed on the government setting regulations that make toxic-free products a bare minimum before something can be sold. And the accountability should be placed on business leaders, ensuring consumer safety is standard practice.
● California Leading the Charge in US Product Safety - California's recent legislative victories in banning harmful chemicals in cosmetics are a beacon of hope and a call to action. With Governor Newsom's approval of legislation banning 26 toxic chemicals in 2023, following the landmark Toxic-Free Cosmetics Act of 2020, California is trailblazing personal care product safety. When the federal government lags, states like California step up. As the largest economy in the USA, California's laws can create a domino effect. If a company has to innovate safer products for California, those safer products will probably be sold in all states. But let's be clear: we've only scratched the surface. When you compare California’s legislation to the European Union's ban on nearly 2,000 chemicals in personal care products, it's evident that our journey towards safer products is just beginning.
References:
● Connect with Ken on LinkedIn
● Environmental Working Group
○ Skin Deep database
○ Healthy Living App
○ EWG Verified
● Natural Resources Defense Council
● Environmental Defense Fund
● World Wildlife Fund
● EPA page on the 1990 Clean Air Act Amendment
● Henry Rose
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Marissa Fayer is the founder and CEO of HERhealthEQ, a global non-profit with the mission to improve women’s health in developing countries by providing access to medical devices & equipment, creating an equitable standard of care.
Here are two 2020 statistics from the World Health Organization that highlight the inequitable standard of care for women in developing countries that HERhealthEQ is trying to combat:
● 90% of cervical cancer and related deaths worldwide occurred in low- and middle-income countries
● approximately 95% of all maternal deaths occurred in low and lower-middle-income countries, and most could have been prevented
Marissa has spent the last 22 years growing medical device companies into world-class organizations through improvements in their operations, implementation of new innovations, connections to capital sources, and creation of more sustainable impact-driven organizations. She is a strategic advisor, board member, and executive leader of several venture-backed private companies. Marissa is also a UCSC Miller Center Social Entrepreneur Fellow and has been listed as one of the Top 100 Women in Medtech.
In this episode, we discuss:
● Why HERhealthEQ is focused on noncommunicable diseases
● The counterintuitive healthcare consequences of foreign aid ending as a developing country grows its economy
● The importance of strategic partners in creating change
Key Takeaways:
● While we often spotlight sustainability in business, focusing on financial, social, and environmental sustainability, it's crucial to turn this lens inward and consider personal sustainability. This is about finding that sweet spot where what we do aligns with what we love and what we're good at. This harmony is the antidote to burnout. It's about not just being a cog in a machine, but being a vibrant, contributing part of a meaningful pursuit. Working towards something that resonates with our values and beliefs isn’t just fulfilling; it's personally sustaining and personally regenerative.
● There's a curious magic in the act of paying, even a token amount, for something. It's like a psychological switch that flips our perception of value. When people invest in something, even minimally, they're more likely to use and appreciate it. This principle is a fundamental human truth that applies to products and services. Charging a fee isn't just a business strategy; it can be a way to ensure engagement and respect for what's being offered.
● Amazon famously paid zero federal income taxes in 2018, despite an $11.2 billion profit. They achieved this through completely legal tax strategies: heavily reinvesting profits back into the business, which allows for tax deductions; utilizing tax credits, especially for research and development; paying employees with stock options, which can offer tax advantages; and carrying forward financial losses from unprofitable years to offset taxes in profitable years. It feels unfair that a successful company can avoid federal income tax, which supports the common good for a nation including roads, infrastructure, emergency services, and education. However, I love the idea that corporations should only be eligible to enjoy certain tax benefits if they demonstrably contribute to society or the planet. It's about modifying our systems to align financial success with ethical responsibility, transforming business from a mere profit-making entity to a force for positive change.
References:
● Connect with Marissa on LinkedIn
● “How to ensure social enterprises have an impact”, TEDxLugano
● HERhealthEQ
● Doctors Without Borders/Médecins Sans Frontières
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Carrie Freeman is the Chair of the SecondMuse Group, which includes SecondMuse, the SecondMuse Foundation, and SecondMuse Capital. Carrie is also the Interim Executive Director for the SecondMuse Foundation, a non-profit focusing on advocating for building relational wealth as an approach to building inclusive and resilient economies.
SecondMuse focuses on the design, development, and implementation of innovative programming that seeks to benefit people and protect the planet. Over the last decade, SecondMuse has designed and implemented programs on 7 continents with 600+ organizations such as NASA, The World Bank, and Goldman Sachs. SecondMuse’s initiatives have delivered the following impact: accelerating 200 + ventures annually; prototyping 50,000+ solutions; enabling $575M investment to supported ventures, with 80% still in business; and generating $10B in social and environmental impact.
Under Carrie’s leadership, SecondMuse won numerous awards including the Reuters Responsible Business Award, Real Leaders Most Impactful Leaders, and the YPO Global Impact Award.
In this episode, we discuss:
● The importance of collaboration in solving complex challenges
● How the timeline of change can determine who the best change partners are
● The role of intersectionality in systems change
Key Takeaways:
● Navigating the labyrinth of tax and accounting systems is a Herculean task for trailblazing organizations that are marrying commerce with compassion. It's akin to a team of adventurers channeling all their might into deciphering an ancient map, only to have no energy left after deciphering it. This bureaucratic quagmire siphons away the zest they could pour into sculpting a brighter world. As we build a new vision of what a thriving economy, society, and planet means, we need to consider the new types of organizations required to create and sustain that vision. Then, we need to create the systems that allow these new organizational structures to not only exist, but thrive.
● Think of how easy it is for a kid who grows up in a wealthy neighborhood to snag a great internship through family connections—it's like having a VIP pass to the front of the line. Now think of a kid from a regular family, who doesn't have that golden ticket—it's like they're stuck in the line that barely moves. This is just one way life isn't fair. But when we become aware of the value of networks, and the inherent inequity in opportunities caused by networks, we’re able to build solutions that bridge the equity gap. Only then can we find ways to share these VIP passes around so everyone gets a shot at the good opportunities.
● Getting people to come together for a common goal is like lighting a fire that everyone wants to gather around. Carrie talked about the work SecondMuse does to build networks, community, and solutions around a shared objective. The shared objective is the fire. It’s the call to action. This same principle is also powerful inside a company. When you establish a purpose beyond profit for your company, you invite employees and consumers to join a movement that’s bigger than themselves. Your purpose acts as a magnet, attracting employees and consumers with aligned values. This shifts the relationship from transactional to emotional and meaningful.
References:
● Connect with Carrie on LinkedIn
● SecondMuse
● SecondMuse Capital
● SecondMuse Foundation
● NASA International Space Apps Challenge
● Circulate Initiative
● Circulate Capital
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Since 2023, Rukaiyah Adams has served as CEO of the 1803 Fund, an innovative firm that seeks to grow shared prosperity through the alignment of financial investments and investments in community-based organizations. It is not a conventional investment firm, and it is not traditional philanthropy—its work includes aspects of both and is ultimately about ‘investing for the people’.
Rukaiyah has been a pioneer in socially responsible investing, establishing key frameworks in the field. Previously she was CIO at Meyer Memorial Trust, where she spent 8 years growing the foundation’s assets under management to more than $1 billion. Rukaiyah has also managed a $6.5 billion fund at The Standard and chaired the Oregon Investment Council, the board that manages approximately $100 billion of public pension and other assets for the State of Oregon. During her time as chair, the Oregon state pension fund was among the top-performing public pension funds in the United States.
Rukaiyah holds a BA from Carleton College, a JD from Stanford Law, and an MBA from Stanford Graduate School of Business.
In this episode, we discuss:
● A need to move away from putting bandaids on broken systems and move toward building new systems with awareness and intention
● The problem inherent in reacting versus responding
● The gifts of awareness that 2020 brought
Key Takeaways:
● The legacy of African Americans serving as the "original capital" in America is a deep stain on our history. It’s a narrative that's still being wrestled with today. Rukaiyah explained it well: Imagine moving from being an object in the economic system to being a subject in control of it. Moving from being chess pieces to becoming the players. With the lens of being players in control, let’s look at the term “capitalism”. The word "capital" isn't just about dollars; it encapsulates the value and benefits you bring to the table through your skills, energy, and time. Think of it as the ink in your personal narrative. The "ism" suffix? It converts the noun “capital” into action, practice, and process. No matter who you are, or what narrative society has tried to force on you, it’s worth asking yourself: what story do you want to help write with your ink? How do you want to use your inherent capital to contribute to—or reshape—existing narratives? What practices do you want to support, and where can you build something better than we ever imagined possible?
● Language isn't just a collection of words and grammar; it's the very framework that shapes our perceptions and dreams. If your aspirations are so grand that no existing term captures their magnitude, then it's time to create new language. Once that new language is in place, it acts like a bridge, facilitating collaboration and sparking movements. Then we can evaluate the systems that support this new dream and identify those that act as roadblocks. Language shapes the way we think and defines the boundaries of our dreams; it's a tool for both reflection and revolution.
● Discomfort is a precursor to growth. Much like a toddler learning to walk, stepping into unfamiliar territory is bound to involve stumbles and moments of frustration. But it's within this discomfort and uncertainty that expansion takes root. When you stretch beyond your current boundaries, knowledge, and capabilities, you're essentially investing in your future. And the currency? It's your newfound growth and abilities. Discomfort always precedes expansion; it's the gritty, less Instagrammable side of personal development. Yet, it's precisely in navigating this discomfort that your new capabilities evolve and eventually become as natural as walking.
References:
● Connect with Rukaiyah on LinkedIn
● 1803 Fund
● “A Love Letter to Portland, OR”, Rukaiyah’s 2nd TEDx talk
● “Homegirls’ Guide to Being Powerful”, Rukaiyah’s 1st TEDx talk
● Meyer Memorial Trust
● Michael McAfee
● Beyond Doer and Done to: Recognition Theory, Intersubjectivity, and the Third by Jessica Benjamin
● Albina Vision Trust
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Mary Harvey is an accomplished sports governance and sustainability executive with 15+ years of leading worldwide initiatives to achieve societal change and gender equity through sports. As Chief Executive of the Centre for Sport and Human Rights, Mary oversees the Centre’s vision, including facilitating the deliberations of the Centre’s multi-stakeholder Advisory Council, operational and financial management, stakeholder engagement, and good governance. Prior to leading the Centre of Sport and Human Rights, as a FIFA executive, Mary pushed for gender inclusion during a period of organizational reform. She also served as a sport envoy for the US State Department’s Sports Diplomacy Division, and as the Vice Chair of the Board of Directors of the Green Sports Alliance.
Mary’s work has improved the empowerment of girls and women, inclusion of marginalized groups, stewardship of the environment, and achievement of health and educational objectives.
A lifelong athlete, Mary enjoyed an 8-year career with the US Women’s National Soccer Team, winning the inaugural FIFA Women’s World Cup in 1991 and Olympic Gold in 1996.
In this episode, we discuss:
● Why the protection of human rights is needed in sports
● The true heroes who are raising awareness of human rights violations in sports
● How businesses can help push for human rights reforms through sport
Key Takeaways:
● Awareness is where change starts. Simply put, we can't fix problems we don't know about. When we become aware of issues, like injustice or inequality, we begin to understand the need to address them. It's like a lightbulb turning on, showing us where things are going wrong. This understanding helps us take action to make things better. This is why whistleblowers are so important. Once we know about a problem and understand it, we can work together to find solutions and create a better world for everyone.
● The importance of truly understanding a problem before trying to fix it. While this is true in each area of life, it’s especially true when dealing with social problems like human rights abuses. Social problems are complicated. As Mary mentions, you need to get input from every perspective, think very carefully about what you’re trying to do, who you’re trying to help, and what your collective understanding of a desired outcome is.
● Every voice matters in the pursuit of human rights, especially for the most vulnerable among us. The movement to codify human rights in sports is new, but the truth is we need to look for how to protect human rights in every corner of society. It is not just a moral duty but an act of humanity to ensure that every individual, irrespective of their status, feels the protection of rights, respect, and dignity. To successfully disrupt systems that allow for violations and abuses will require collective action and accountability. Every individual deserves an existence in which justice is not a privilege but a universal reality.
References:
● The Centre for Spot and Human Rights is developing a new series produced by BBC StoryWorks Commercial Production. The series will launch in 2024 and will feature documentary-style short films exploring critical issues on the sport and human rights agenda.
● Connect with Mary on LinkedIn
● Centre for Sport and Human Rights
● International Labour Organization (ILO)
● “For the Game. For the World.” FIFA and Human Rights by John G. Ruggie
● U.S. Center for SafeSport
● Council on Foreign Relations page on the kafala system
● Building and Wood Worker’s International (BWI)
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Maximilian Winter is the Founder and General Partner at Harmonix Fund as well as a fourth-generation entrepreneur. Having successfully deployed two funds, Maximilian has invested in over 40 early-stage companies, resulting in an enterprise valuation of $5 billion. Maximilian invests in scalable technological breakthroughs to advance human health and scientific progress. This includes improving healthcare, accelerating life sciences, and helping create deep tech infrastructures—the building blocks for a healthy civilization.
Maximilian's commitment to societal betterment extends to The Winter Family Foundation, a philanthropic organization he co-founded with his brother, Alexander Winter.
In this episode, we discuss:
● Challenges embedded in our current healthcare system
● Science-fiction-sounding advances in bioresearch
● How life’s biggest hurdles can shape an individual's path and purpose
Key Takeaways:
● The metrics we choose to measure, in our lives and in our companies, often turn into the foundation for how we define success. Unfortunately, we’ve defaulted to the easiest-to-measure metric: money. When this metric isn’t attached to anything meaningful, it rings hollow and causes the question, “Isn’t there more to life than this?” to play on repeat as we sit through soulless meeting after soulless meeting. But real success is more complicated and nuanced. Real success asks us to dig deeper with questions like: Are you making a positive impact? Are you giving more than you’re taking? Are you acting with integrity? Are you creating a future that’s better because you existed?
How would your relationship with work change if you changed the metric you used to measure success?
What if you were measuring how many lives you improved, how many endangered species you saved, or how many tons of plastic you diverted? If these questions awaken something in you, then consider where—in your life or business—you can start tracking metrics that align with your values.
● Venture Capital has the ability to foreshadow our future because financiers are investing in the companies they believe will shape industries, or create new industries. They are placing a bet on what the future will look like. What if collectively we only invested in companies that not only have a potential financial return, but that are also designed to improve people, society, and the planet? What if we agreed on impact metrics to intentionally stack the investment deck, and ensure the future will be better?
● Maximilian asked about my experience with our healthcare system. While I was in the Peace Corp, I was in a fatal bus accident. I lost a friend and I sustained a lot of injuries. I have a spiderweb of fractures spanning 7 bones in my face. One of the fractures splintered and punctured my brain lining, causing me to leak brain fluid out of my nose. I was in a hospital in Mocorro for two weeks until it was safe to fly me to the USA for medical treatment. I was lucky that my subsequent surgery to patch the hole in my brain lining was covered by workers' compensation. If it hadn’t been, I would have had mountains of medical debt. The fact that in the USA you can not only have the misfortune of a serious illness or injury, but on top of that be saddled with financial ruin, highlights a very broken system.
References:
Connect with Maximilian on LinkedIn
Harmonix
Population Services International (PSI)
Development Innovation Ventures at USAID
3D Systems (parent of Volumetric)
Peter Attia’s website
Fritz Winter
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Walden Lam is the co-founder and CEO of unspun, whose mission is to reduce global human carbon emissions by 1%. To get there, unspun is focused on zero-waste production and circular reuse for clothing. In their aim to remake the fashion industry, unspun had to remake how clothes are made. They started with digital fit jeans, and then created VEGA, a 3D weaving technology that changes how clothes are made to reduce waste, increase efficiency, and make clothes easier to recycle back into raw materials. unspun is also a certified B corp.
Prior to founding unspun, Walden led growth strategies at Lululemon, worked with innovative companies at IDEO, and invested in early-stage ventures.
I learned about unspun through Unreasonable Ventures, and in full transparency, I was so impressed with the change they’re trying to create in the retail industry that my husband and I became investors in the company.
In this episode, we discuss:
● How a truly ambitious goal can require a foundation of collaboration
● the waste problem at the heart of the global fashion industry
● What retail can learn from the local food movement
Key Takeaways:
● As the unspun website says, “It's a simple enough idea. Start with thousands of individual yarns, and directly weave them into seamless 3D textiles. Think 3D knitting... but 10X faster and 5X cheaper. By skipping entire steps in the conventional cut-and-sew process, Vega™ opens the door to an entirely new world of on-shore and on-demand production for woven apparel.”
● Oversight of a global supply chain for a single company can be very difficult because so much of the production process for a single product is outsourced to other companies. It's not uncommon for clothing items to pass through the hands of 20 to 50 different suppliers, manufacturers, and intermediaries from the raw material stage (e.g., fabric production) to the finished product (e.g., retail distribution). When modern-day slavery or other issues show up in a company’s global supply chain, they are (and should be) held accountable. But it’s important to realize it can be difficult to monitor. What’s unique about unspun is they take the raw material of yarn and turn it into a finished product, all under one roof. As a partner to other clothing brands, unspun’s model drastically simplifies supply chain oversight.
● California Governor Gavin Newsom plans to sign two landmark climate-related disclosure bills into law. The bills will require large companies in the US to disclose their full value chain emissions and report on climate-related financial risks. These laws would introduce the first major mandatory climate-related reporting obligations for many US companies and go beyond proposed SEC rules, including both public and private companies. This increased visibility into scope 3 emissions will change the conversation around global supply chains, giving a huge benefit to companies like unspun that have figured out how to bring manufacturing closer to the end consumer.
References:
● Connect with Walden on LinkedIn
● unspun
● Ellen Macarthur Foundation’s The Jeans Redesign
● Read more about the unspun/Eckhaus Latta collaboration here
● European Commission press release on Extended Producer Responsibility for textiles
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Nick Stone is a Lead Director and Board Member for Wilderness. Known for its once-in-a-lifetime safari experiences, Wilderness was founded in Botswana in 1983 with the goal of introducing visitors to the country’s natural beauty while protecting the environment and providing local jobs. Today, the company has more than six million acres of land under its stewardship and provides an economic support system for the communities where it operates, creating durable, well-paying jobs for roughly 2,600 people from more than 20 different ethnic groups and supporting local farming and infrastructure.
Nick is also a board member of LedderTech and Kelvin Inc. For his day job, Nick is a Partner at FS Investors, a private investment entity with long-term capital. Nick graduated cum laude from Harvard and was an Arjay Miller Scholar at the Stanford Graduate School of Business.
In this episode, we discuss:
● How combining tourism with conservation is changing the economic model for protecting nature
● How expansive wilderness can be a catalyst for deepening interpersonal connection
● The outsized influence of company culture in setting the trajectory of a business
Key Takeaways:
● There's an elusive quality to the energy a place holds. Anyone who's attempted to capture a sunset in a photograph understands how it pales in comparison to the real thing. It's a mere two-dimensional representation of an experience that's inherently three-dimensional and engages all five senses. Nick mentioned the difficulty of articulating the essence of a journey with Wilderness, and I can't help but think there’s a similar challenge at play here. How do you convey the profound experience of venturing into the unspoiled wilderness, where the world still echoes with the rhythms of millennia, when our daily lives have drifted so far from that primal connection? It's akin to stepping back in time, immersing oneself in a natural equilibrium unlike anything we're accustomed to today.
● Exposure to different cultures is a transformative journey of self-discovery. As we engage with diverse customs, beliefs, and perspectives, we gain valuable insights into the human experience, fostering a deeper awareness of our own values and biases. Through these experiences, we become not only more culturally sensitive but also more compassionate and empathetic individuals, contributing to a more harmonious and interconnected world.
● The tragedy of the commons occurs when individuals, acting in their self-interest, deplete shared resources. It's a collective action problem that often arises with public goods - like open wilderness - where individuals have an incentive to exploit the resource to their own advantage. We see this with deforestation across nations, overfishing the oceans, and the shrinking African wilderness. The business model Wilderness has created develops a more attractive alternative to the tragedy of the commons by using the natural resources of the African wilderness to educate on the importance of conservation, to earn funds necessary to support the conservation of the land, and to increase economic opportunity for local communities through well-paying jobs. Where else can we change the economic model away from the tragedy of the commons—which in the short term profits a few—to a model that values community building, increased access and education, and protecting resources for generations to come?
References:
● Wilderness website
● UNESCO page about Okavango Delta
● Children in the Wilderness
● Civilized to Death: The Price of Progress by Christopher Ryan
● The Rise Fund
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Fawn Bergen leads Intel Corporation’s Corporate Sustainability Group. In her role, Fawn directs the implementation of Intel’s sustainability goals across their manufacturing operations and office facilities around the world, including Intel’s commitments to reach net zero GHG emissions by 2040, 100% renewable electricity by 2030, net positive water by 2030, and zero waste to landfill by 2030.
Fawn’s 24+ years of experience in the environmental field has spanned multiple industries and specialties including air quality engineering, environmental engineering, global strategy, and environmental management roles. Prior to leading Intel’s sustainability group, she led their climate change, water stewardship, and corporate air programs globally.
In this episode, we discuss:
● Intel’s ESG Framework called RISE
● Why water is a key sustainability focus for Intel
● How Intel has reached 93% renewable energy across its global operations
Key Takeaways:
● Gone are the days of vertical integration, which meant a business handled all aspects of production internally, from raw materials to final assembly. The Ford River Rouge complex, completed in 1928 in Dearborn, Michigan, was the largest vertically integrated factory in the world. River Rouge was a mile long and 1.5 miles wide. It contained over 100 miles of internal railroad tracks and housed everything from its own energy plant to an integrated steel mill. The factory took raw materials like iron and turned them into fully assembled Fords. Today companies rely on expansive supply chains to create their products, a horizontal integration across many companies. This change in business structure means there is an interconnectedness across companies and stakeholders when it comes to reaching individual corporate ESG goals. Take greenhouse gas (GHG) emissions as an example. There are 3 different scopes for GHG. Scope 3 emissions tend to be the largest emissions category because it covers all the companies up and down your supply chain whose emissions you are indirectly responsible for. A company can’t reduce Scope 3 emissions without collaborating across the supply chain.
● If your company is just beginning its ESG journey, consider starting where you have the most control. To be a great corporate partner requires cleaning up your own operations first. Today no company is an island, and the improvements you make to your own operations will benefit the footprint of the companies you work with across the supply chain.
● Communities are asking for transparency and accountability from the corporations that operate near their homes. Fawn shared great examples of the questions Intel gets from the communities they operate in, as well as the work they’re doing within these communities. If you don’t know the role your company is playing locally, ask. Challenge your leaders on how your organization can leave the community better off by virtue of being there.
References:
● Connect with Fawn on LinkedIn
● Intel’s RISE Strategy and Goals
● The 2022 CDP A-List
● The Nature Conservancy
● National Forest Foundation
● Trout Unlimited
● World Resources Institute Aqueduct page
● WRI’s fact sheet on Renewable Energy Certificates
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Lata Reddy is Senior Vice President of Inclusive Solutions at Prudential, and chair of The Prudential Foundation. In these roles, Lata harnesses the power of capital markets to drive financial and social mobility. By combining diversity strategies, impact investments, philanthropy, corporate contributions, and employee engagement with Prudential’s full business capabilities, she helps position the company to promote inclusive economic opportunity and sustainable growth.
Under Lata’s leadership, Prudential became one of the first institutional investors to grow and manage an impact investing portfolio with $1.2 billion in assets under management. Additionally, she oversees a yearly grant-making budget of over $40 million through The Prudential Foundation, and a $17 million corporate contributions budget.
In this episode, we discuss:
● What it means to be an anchor institution (in your corporate HQ geography)
● How the revitalization of a Newark mansion is supporting equity and access in the city
● The importance of a learning mindset, and systems for continuous improvement
Key Takeaways:
● This conversation reminds me of how small the world is, and the beauty that lies in finding overlapping connection points with others. Lata and I both have immigrant parents. Both of Lata’s parents are from India. My father, and his parents and siblings, were refugees from Lithuania after WWII. When my family immigrated to America, they moved to Chicago. My grandmother found a job as an office cleaning-lady in the Prudential building downtown. Through employment, Prudential played a significant role in supporting the agency and financial security of my family, helping them integrate into a new community. I share this story to highlight the generational ripple effect. If my grandparents couldn’t find work as refugees, my story would be drastically different. During this conversation, we discuss many ways that Prudential supports inclusive growth through its operations, investments, and grants. As Lata defines it, inclusive growth is about creating agency within people’s lives so that they have the ability to make the best decisions for themselves and their families. These actions create ripples.
● Over the course of history, our expectations for the timeline an investment should take has drastically shrunk. The Great Wall of China was built over the course of more than 2,000 years. Notre Dame took more than 100 years of major construction, and work continued for hundreds of years after. The Giza pyramids were built over the course of three generations. In contrast, modern-day shopping mall takes 2-5 years. With these shrunken timelines, the beauty and joy the end result delivers has also plummeted. The same immediacy mindset has happened with financial investments. The existence and growth of day trading is an illustration of this. In day trading, a trader buys and sells a financial instrument within the same trading day. The truth is, most things in life don’t maximize over a day, or even a year. Getting a college education. Having children. Growing your career. Starting a business. If you’re only focused on immediate returns, you can miss out on some of the most rewarding and impactful opportunities. From an investment standpoint, Prudential bucks this immediacy trend. They use a different approach called long-term investing, or patient capital, which means making a financial investment with no expectation of turning a quick profit but an anticipation of more substantial returns down the road. As the saying goes, good things come to those who wait.
References:
● Connect with Lata on LinkedIn
● Corporate Social Responsibility at Prudential
● My Brother’s Keeper Newark (and nationally)
● Makerhoods
● L+M Development Partners page on the Hahne’s department store redevelopment
● Brick City Run Club
● Newark Anchor Collaborative
● Read more about “Equity Re-Imagined” here
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Amy Terpeluk leads the CSR & Social Impact Practice at FINN Partners, a values-based marketing and communications agency. FINN Partners helps brands share their stories in ways that drive business value and make a positive impact in the world. Amy has created initiatives in education, DEI, public health, economic inequality, sustainability, climate change, and veterans’ well-being.
Amy also helped launch the NO MORE Foundation, a global campaign galvanizing greater awareness to end domestic and sexual violence and continues to serve on its board of directors.
In this episode we discuss:
● The process FINN Partners uses to help clients assess the potential risks and rewards of publicly taking a stance on an issue
● The importance of authenticity and transparency in corporate communications
● The impact of company and employee value alignment
Key Takeaways:
● Authenticity is an inside job—for a person and for a company. It means being clear on your values and acting in alignment with them. It means standing up for what you believe in, as well as standing up for yourself. It means staying true to your values, regardless of the pressures you are under to act otherwise.
● One litmus test for authenticity is to ensure that what your company says externally is in alignment with how your company shows up internally (i.e. how your company treats its employees). For example, if your company says they stand behind equality externally, make sure they stand behind equality internally. Ask questions. Here are two examples: has your company ensured that pay and benefits are equal across gender and race within each salary level; has your company instituted hiring practices to remove cognitive bias?
● When a company has strong values, it’s easier to navigate an unexpected PR crisis. When values are referred back to habitually, and used in daily decision making, the shared knowledge of what decisions are right for your company grows across the organization. That means, when hard decisions come your way (as they inevitably will) deciding what to do becomes a little less hard. Values make it easier to land on a clear direction even in the middle of a storm. One classic example of values in action is the Tylonal recall of 1982, after capsules laced with cyanide killed 7 people in Chicago. The Johnson & Johnson CEO at the time, James Burke, credited the Johnson & Johnson Credo—their company value statement—to helping navigate the crisis, and giving him “the ammunition to persuade shareholders and others to spend the $100 million on the recall. A move that would name him as one of history's most outstanding CEO’s. (Read more on that crisis here.
References:
● Connect with Amy on LinkedIn
● FINN Partners
○ Societal Return on Investment Index, with The Harris Poll
○ FINN Purpose Alignment Index
● Miami Lighthouse for the Blind
○ Learn more about FINN’s work with Miami Lighthouse here
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
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Chuck Templeton is a Senior Managing Director at S2G Ventures, the direct investment team at Builders Vision—an impact platform providing philanthropy, investment, and advocacy tools to organizations that are building a more humane and healthy planet. S2G Ventures has 4 focus areas for investment: Clean Energy, Food & Agriculture, Oceans & Seafood, and Special Opportunities.
Once an entrepreneur himself, Chuck founded OpenTable. He is many things: an ultra-runner, a former Army Ranger, a father, a businessperson. Most importantly, he is a citizen of the world who is dedicating his expertise to build, fix, and support a healthy and sustainable ecosystem.
In this episode we discuss:
● The meaning of systems investing
● The importance of real market feedback on a minimal viable product (MVP)
● How to manage risk when investing in new technologies
Key Takeaways:
● The oceans and the air we breathe are shared worldwide. We either all have clean oceans and air, or no one does. When the oceans die and the air is toxic, all humans die. But food stability and access to clean water are not shared worldwide. Food and water instability thrives among the world's most vulnerable populations, not the ones setting regulations. That doesn’t mean rich nations are safe from future insecurity. Climate change is already impacting agriculture in once “safe” geographic environments. Once food and water insecurity hits the doorsteps of the most privileged, it will be too late for all of us. But more importantly, we have a responsibility to look after each other. A responsibility to support our fellow humans who are experiencing food and water instability NOW. A responsibility to leave the planet better off for the next generation than we found it. There are actions each of us can take now to support the transition to sustainable systems, and a healthy planet for future generations. Action can look like buying from food companies that use regenerative farming, sustainable fishing practices, and humane animal welfare. Action can look like supporting companies that have switched to renewable energy (and switching your household to renewable energy too). Action can look like voting for more regulations around emissions. Action can look like switching your financial investments out of harmful industries and into sustainable businesses.
● Chuck sets a great example for all of us. He assessed his skills, then found a way to use them in a capacity that gives him meaning, and that builds a better future for his kids (and everyone's kids). Consider how you can follow Chuck's example and use your energy, skills, and time to support what’s important to you. How can you push your current company to be a better global citizen? If your company doesn’t light you up with meaning, consider finding a company that’s purpose aligns with what’s important to you. Or look into volunteering your skills to a non-profit whose mission you believe in.
References:
Connect with Chuck on LinkedIn: https://www.linkedin.com/in/ctemp/
S2G Ventures: https://www.s2gventures.com/
Once Upon a Farm: https://onceuponafarmorganics.com/
Learn more about the United Nations Sustainable Development Goals: https://sdgs.un.org/
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
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Stephanie Benedetto is the Co-Founder and CEO of Queen of Raw. This award-winning company is turning deadstock pollution into profit through two major channels: 1) its proprietary inventory management software Materia MX, and 2) an integrated deadstock marketplace. Queen of Raw enables fashion companies to sell their excess inventory, while at the same time supporting sustainability compliance measurement and reporting.
Stephanie is a member of Pledge 1% and a founding member of the New York Circular City Initiative. An advocate for women in business and sustainability, her companies have been featured in Good Morning America, The New York Times, and The Wall Street Journal.
In this episode we discuss:
● Why deadstock clothing and textiles are often landfilled or incinerated
● The $280b+ excess inventory sitting in warehouses worldwide
● Why the fashion industry is the 2nd largest contributor to global water pollution
Key Takeaways:
● There is an incredible opportunity for new marketplaces to enable value creation by tapping into unused resources and capacity. These marketplaces allow supply to meet demand. This is what Airbnb does. This is what Uber and Lyft do. And, this is what Queen of Raw does. What makes Queen of Raw’s marketplace stand out is the sustainability component at the heart of what it does. With their focus on unused textiles that would otherwise be burned or end up in landfill, the company is enabling a circular economy across the fashion industry by keeping resources in use longer.
● The early success of Queen of Raw shows the power of a compelling vision that benefits all stakeholders. A key part of this success has been Queen of Raw’s ability to bring in strategic partners—like SAP and UPS—by aligning on values and clearly adding value.
● Currently, 1.1 billion people worldwide don’t have access to clean water. The World Wildlife Fund has stated that by 2025 two-thirds of the world’s population may face water shortages. That’s in just 2 years. That statistic is shocking and hard to absorb when 70% of the world’s surface is covered by water. Water seems abundant. The problem is, only 3% of global water is freshwater, and 66% of fresh water is unavailable to use (i.e. frozen in glaciers or otherwise inaccessible). That leaves just 1% of total water as fresh water that we can use. Currently, 70% of that freshwater is used in agriculture, and the amount of freshwater is declining. The fashion industry contributes to water scarcity in two major ways: 1) through agricultural products used to make textiles like cotton, wool, and leather—as well as any pesticide runoff that contaminates waterways; and 2) through pollution from toxins used in the textile production process—like fabric dyes—that contaminate waterways. Not contaminating what little freshwater we do have is incredibly important.
References:
● Connect with Stephanie on LinkedIn
● Queen of Raw
● Queen of Raw’s low-volume marketplace
● New York Circular City Initiative
● MIT’s Solve
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
-
Lindsey Hoell is co-founder and CEO of Dispatch Goods, a women-founded reverse logistics company building the infrastructure for circular packaging. Dispatch Goods enables direct-to-consumer brands to offer their customers’ meals and groceries in completely reusable packaging, again and again. Their mission is to make single-use waste a thing of the past, with the motto of “better, cheaper, greener”. Since 2020, Dispatch Goods has kept over 2 million single-use items from entering waste streams.
In this episode we discuss:
● Why reusable packaging is the gold-star ambition over compostable packaging
● The moment that inspired Lindsey to tackle single-use plastic
● The immense opportunity in reverse supply chain solutions
Key Takeaways:
● Mastering logistics is HARD. The reason Amazon has turned into one of the first (and few) trillion-dollar businesses is because they mastered logistics: get everything shipped anywhere fast. While Amazon’s logistics mastery is pumping out packages to homes, Dispatch Goods is building reverse logistics, returning packaging from homes so that it can be seamlessly reused for future orders. While it’s difficult for individual companies to build a circular capability in-house, there is a huge opportunity for Dispatch Goods to be a plug-and-play option across companies and become the third sustainable option: recyclable, compostable, or Dispatch. It’s time to keep packaging out of our waste streams.
● There aren’t many women working in logistics. According to JBAndrews Insights, of the 125 million people employed in Logistics & Supply Chain globally only 2% are female. The female-founded Dispatch Goods is a great example of the disruptive ideas that are possible when industry outsiders, and diverse perspectives, enter into a historically homogeneous field.
● I hadn’t thought much about single-use paper products, since all of the paper products I purchase are recycled, bamboo (which is more sustainable), or have been replaced entirely by reusable cloth options. But the other week, single-use paper products floated into my mind. I was driving through the national rainforest on the Olympic Peninsula in Washington State, admiring the beautiful trees lining the road. I realized that the fate of many trees is toilet paper. What a depressing fate for such a majestic living and breathing thing. The average American uses an astounding 141 rolls of toilet paper a year. If the “tree to toilet pipeline” seems wrong to you too, consider switching to a bidet (Tushy is an easy-to-add option to a standard toilet), TP made from recycled paper, or TP made from bamboo (I have a subscription to Rizzi).
References:
Connect with Lindsey on LinkedIn
Dispatch Goods
Oceana
Surfrider Foundation
-Ocean Friendly Restaurants
“Plastic Recycling Is A Dead-End Street,” Greenpeace Report, October 24, 2022
World Centric
Imperfect Foods
Yay Lunch!
Connect & Share:
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!
If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!
Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.
This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at [email protected].
- Visa fler
