What’s next for Purpose?
This week, Hein Schumacher, Unilever’s Chief Executive, said he will no longer “force-fit” Purpose on every brand. Giving some brands a social or environmental purpose “simply won’t be relevant, or it will be an unwelcome distraction,” he said.
At GOOD, we welcome this. Far too many brands are claiming purpose without any evidence or demonstration of their commitment. There needs to be a clear positive impact on a specific and relevant social and/or environmental issue for a brand to claim to be purposeful.
But there is a greater need for all businesses to do their fair share in tackling some of the social and environmental crises we face.
As climate scientists report that the earth’s “vital signs” are worse than at any other time in human history, it has never been more important for businesses and brands to act. For those that are Purpose virtue signalling, it’s time to stop the pretence and start demonstrating their commitment with measurable actions. Virtue signalling or Purpose washing creates no value and often does more harm than good.
In the face of the extreme climate crisis, there is an overwhelming imperative for business, which has been and continues to be a massive contributor to the problem to change their ways and move to the right side of history.
Purpose can still help create value for the business bottom line, and generate value by creating positive attitudes and behaviours towards a brand, but the expectation of brands that claim purpose has increased. There needs to be much more clearly defined benefit to the wider society and/or environment, there needs to be longer term commitment to the purpose, there needs to be clear and timely targets, and greater scrutiny of the impact brands purpose actions are actually having.
Purpose pioneers are moving beyond sustainability to docs on regenerative processes and outcomes. They are moving from mitigation, to asking the question how can you do more good, rather than merely less harm? It is no longer enough for business to simply mitigate the harm they’ve had on people and the planet. Instead, businesses and brands need to actively restore the social foundations and environmental systems on which they depend.
Next Tuesday 31st October, GOOD & positive impact consultancy Greenheart are holding a webinar event “Purpose 2.0”. We will uncover the need for a fresh perspective in the face of challenges to Purpose, and how to future-proof your brand whilst creating value for people, planet and shareholders. Sign up to attend here: https://www.eventbrite.co.uk/e/purpose-20-what-next-tickets-728289041127
Posted by Lucy Martin
