Impressions, Impact and Improbability - Why Advertising Could Save The World
Since we set up shop back in 2016, Good-Loop has been committed to giving 50% of our revenue to charity. We do this because we believe that advertising can, and should, be a force for genuine good in the world. There's just one catch.
Giving doesn't necessarily equal 'being good'
Yes, it does matter when an oil company sponsors the local kid's football team. And it's heartwarming when a packaging giant builds a house for a homeless family. But does giving, in and of itself, actually make a company 'good'? The reality is that most companies grossly underestimate the impact they have on the world. And as such, when some take steps to do good, those steps are often a long way off being enough. For many, it's this kind of token offset that pollutes the 'purpose' space, with accusations of greenwashing or woke-washing swiftly following.
Encouraging bravery
By contrast, when a company partners with Good-Loop, they plant their flag in the ground as being a company who truly want to make a difference, to be part of a better world. They literally put their money where their mouth is and create meaningful change by turning their ad spend into charitable donations. Yes, a company giving money away doesn't automatically make them a good company, but at the very least via Good-Loop, we can prove the impact their campaign actually achieved, which in turn helps that company answer two vital questions with regard corporate responsibility:
- Is this good enough?
- Is this enough good?
Profits and Purpose = The New Good
As an industry, we have both the creativity to make change, and the financial muscle to see it through. A rare combination, that can be used to change the world positively. We intend to do just that, and having already given close to £500k to charities in the last couple of years, we're on our way. But it's important we keep ourselves in check, to ensure we continue to walk our own talk, and ensure what we're doing as a company is 'good enough'. That's why today Good-Loop is proud to announce it's the first AdTech company in the world to be officially certified as a B Corporation. B Corporations (or B Corps) are a growing group of companies who are reinventing business, by pursuing purpose as well as profit. Good-Loop has been certified as having met rigorous social and environmental standards which represent its commitment to goals beyond shareholder profit. B Corp certification covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with certified companies having to score over 80 and provide evidence of socially and environmentally responsible practices - including energy supplies, waste and water use, worker compensation, diversity and corporate transparency. And importantly, to complete the certification, companies must legally embed their commitment to purpose beyond profit in their company articles. This we have done, and we're delighted that our B Corp certification now officially underlines Good-Loop's commitment to delivering profit with purpose. We welcome the opportunity, and the challenge, of leading the way for others in our industry to make a difference. If you're in the advertising industry, and want to convert your brand's media spend into doing measurable good in the world, please get in touch.
We're ready to help.
