If, if I'm an, social impact investor and,
I know that I'm going to invest in your company, if I know that you're not
going to redistribute more than 35% back to the owners of the company,
that, that means that the 65% of your profits are going to be
reinvested back into the social purposes of your organization.
There are many social impact investors that, that is a comfort to them,
you might say.
But, in, in, in reality, what it's saying is
that you are, you are truly providing a social benefit,
to, to, communities you're working in.
So those are, those are a couple of forms that we're using.
I know other places in the world have, other types of,
of forms I think through, all have variations on the same theme.
But in essence you're talking about how to provide impact investing,
and how to legitimize your social venture, in the social impact space.
>> Could you give an example of such a B Corp company, what it does, and
what makes it different from a normal company.
>> So there's a company in the New York City area, it's called Ice Stone and
Ice Stone takes recycled glass out of, out of the waste stream and combines it with
concrete and creates these wonderful, these wonderful counter tops.
Which are, now, you know, environmentally, are,
they are sustainable because you are actually taking recycled glass plus this,
this concrete mixture and making what looks like granite but it's not.
Or marble, and it's not.
It's, it's a very great process for creating counter tops that could be used
for bathrooms or bars, or for desks or, or what have you.
What makes this company really,
interesting is that they really think about a triple bottom line.
While they, not only are they doing this with an environmentally sensitive
approach, they also produce the materials inside of a, a, a, a lead certified,
it's a environmentally certified, manufacturing space.
They, they have open, an open floor with,
lots of natural light, in fact they change, [LAUGH] what's interesting is
they change the hours though that they're working during the year due to
the sun because they're using so much of the natural light.
It's, it was, set up in an area of New York City, called Brooklyn and
in the Brooklyn Navy Yard, what we see there is there were lots of,
old factories and manufacture spaces that have gone out of business, but
now were repurposed, for this company.
And then lastly, they hire from the local economy.
They hire from folks who traditionally haven't had a whole lot of
great job opportunities and give them living wage jobs.
You know, not just a basic wage or a minimum wage,
but they give them enough money in salary that they can support their families.
So some of the, all of these things are unusual for
companies in the manufacturing environment and, you know,
I really respect what they're doing, but the proof is, in, in what they do.
They're a certified B corp.
They have been evaluated every year in terms of
what kinds of social and environmental, impact that they're making.
And at the end of their, their processes, you know,
they come up with a really great product.
Since there's a trend for greener products in the United States, this company is
well positioned to not only be able to make a social and
environmental impact, but also to be sustainable in the long run.