I’m currently at the Social Enterprise World Forum, a gathering for organisations who put a social mission at the heart of their business model. It was here, two years ago, that a global scheme for verifying social enterprises was launched. Since then, People and Planet First has verified a whole host of amazing organisations, and I’m proud to report that Changeworks has recently collected its own accreditation badge.
What is a social enterprise?
Social enterprises are businesses that have a social or environmental purpose. Instead of making money for shareholders, any profit a social enterprise makes is reinvested in the business, furthering its social or environmental mission.
Legal frameworks for defining a social enterprise differ across the world. That’s why People and Planet First was launched: to come up with a trusted way of verifying social enterprises that’s recognised internationally.
What does our People and Planet First accreditation mean?
It means that Changeworks has been verified as a social enterprise – that we put the needs of people and the planet above any profit motive. To be verified, our organisation has to meet five standards:
Purpose: We exist to solve a social or environmental problem.
Operations: All our operational decisions prioritise our purpose, people, and planet rather than profit.
Revenue: We have a self-sustaining revenue model.
Use of Surplus: We reinvest the majority of any surplus towards our purpose.
Structure: We choose legal structures and financing that protect and lock-in our purpose long term.
Why is our People and Planet First accreditation important?
I believe that verification by People and Planet First shows the world what sort of organisation we are. It recognises that Changeworks exists to make low carbon living a positive reality for everyone, and welcomes us into a growing movement which is trying to do business differently. We’re now part of a global cohort of organisations who are doing great work for the best of reasons, and we’re incredibly proud of that.