Being owned by a foundation and donating 10% of NOW’s income to its pro bono projects makes it even clearer to our clients and the world that we serve the common good, not that of individual owners. In many conversations existing and potential clients told us how inspired they are by this ownership constellation.
As a benefit corporation, NOW is committed to higher standards of purpose, accountability and transparency.
Purpose: Benefit corporations commit to creating public benefit and sustainable value in addition to generating profit. This sustainability is an integral part of their value proposition.
Accountability: Benefit corporations are committed to considering the company’s impact on society and the environment in order to create long-term sustainable value for all stakeholders.
Transparency: Benefit corporations are required to report, in most states annually and using a third party standard, showing their progress towards achieving social and environmental impact to their shareholders and in most cases the wider public.
NOW donates 10% of its income to Global Academy Foundation, which serves change leaders who can’t afford our services. In addition and in general, NOW only takes on projects that serve the common good by moving the world towards a regenerative future.
Given that we are a decentralized company, we don’t have company facilities or vehicles and therefore no Scope 1 or 2 emissions. Our Scope 3 emissions overwhelmingly come from unavoidable long distance air travel caused by project work around the world. We have calculated our annual air travel emissions and multiplied the resulting figure by two to make sure that we are on the safe side.
For the resulting current amount of 100 tonnes of CO2, we have purchased carbon offsets that fund the Kenya Biogas Program. Going forward, we will strive to keep our air travel limited to the unavoidable minimum and at the same time make sure our Scope 3 emissions are more than offset.