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Share the Wealth

If business is about making profits, let’s have the award for sustainable business reward businesses whose sustainability practices generate more profits.

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Written by DeletedUser

If business is about making profits, let’s have the award for sustainable business reward businesses whose sustainability practices generate more profits. The award would be annual and worth $10 million. To be considered as a possible recipient of the award, a company would pay money into a pool. Upon paying money, it would also make public (to the pool) its sustainable practices model. Any other company who pays money into the pool would have access to those practices. The winner of the award would be the company whose practices were the most transferable during the past year. Peers in the pool will vote on which company they believe provided the most transferable idea.

How does your concept celebrate, identify or inspire for-profit businesses that act as agents of world benefit?

This concept allows businesses to recognize their peer organizations that have made the greatest contribution to practices that both encourage sustainability and increase profitability. This system allows organizations to share their sustainability practices without being concerned that sharing their innovations will compromise their competitive advantage because in exchange for sharing, they will also receive the collected ideas of similar minded companies. This system encourages companies to actively submit quality ideas because their joining fee is used to reward the most successful entrant.

How will your concept help us create or leverage stories of world benefit that are sticky and shareable?

When companies win this award, they will be able advertise that their innovative ideas have contributed to sustainability across their industry. As word of mouth spreads, more companies will want to join the competition to gain access to the particulars of the sustainability model. There will be a snowball effect leading to increasing use of sustainable and profitable practices.

What will it take to scale your concept so that its reach is global and widespread?

This model will initially appeal to large corporations, many of which are already worldwide in scope. Their use of practices that are both profitable and sustainable will lead organizations of varying sizes in different countries to eventually adopt those practices so they can continue to compete with them as well as protect their environment.

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