B-Corps: Profit Meets Purpose at the ESG Lab in Hong Kong. Three Speakers. Three Key Takeaways.

Picture of attendees at the ESG Lab in Hong Kong 

In today’s rapidly evolving business landscape, it has become increasingly apparent that firms can no longer operate in a vacuum, solely focused on the monetary value their product generates, and disconnected from the larger environmental and social issues. As consumers are now demanding greater accountability, companies are trying to find a way to balance corporate interests and environmental and social governance. This balance? It’s B-Corps! 

At the ESG INNOVATION LAB in Hong Kong, in collaboration with Dream Impact, three speakers – KK Tse from B-Lab, Heidi Spurrell from Future Green Global, and Damian Lai from Dream Impact – delivered a fantastic presentation on how Hong Kong SMEs can become B Corp Certified and add to their business value proposition! Keep on reading to hear our three key takeaways from this event!

Presentation by the three speakers: Heidi Spurrell from Future Green Global, KK Tse from B-Lab Hong Kong, and Damian Lai from Dream Impact

Be a changemaker!  

As the starter of the first certified B-Corp in Hong Kong – Education for Good that focused on entrepreneurship education – KK discussed the importance of being changemakers in today’s society and striving to create a difference in the world. Citing the successful stories of B-Corps such as Patagonia or Ben and Jerry’s, he shares his mission to inspire the creation of more social businesses in Hong Kong and become the drivers of change in today’s society. From success stories of local firms such as Pie Strategy to One Bite Design Studio who have transformed into B-Corps, each with its unique business impact, KK notes the progress that Hong Kong has made in its sustainability journey!

Being a B-Corp adds business and brand value!

With KK we learnt about the ‘changemaking’ aspect of becoming a B-Corp, but Heidi as the CEO and Founder of Future Green Global, shares her experience with how a B-Corp provides a significant competitive advantage to your company. Not only does it demonstrate a strong and certified commitment to ethical and sustainable practices, but it also drives genuine business and brand value. Heidi discusses the importance of communication within a business – effectively communicating your environmental and social impact is crucial as it drives consumers to support your brand. 

Heidi Spurrell delivering a fantastic presentation on how B-Corps add to the brand value of a company!

Embracing the power of having an Impact Business Model 

Speaking of communication, Damian Lai from Dream Impact proposed the importance of a company having a clear Impact Business Model (IBM) embedded within their business structure and creating a specific positive benefit and outcome for its chosen stakeholders. It acts as the signature of your company. Damian explained the importance of adopting an IBM to drive success and long-term growth for a company by creating a specific business framework that aligns a company’s entire operations, policies, and strategies towards a specific impact or goal. Citing the example of Hyginova, a local B-Corp that produces disinfectant and cleaning products with an IBM of toxin reduction and resource conservation, Damian explains how an IBM allows the firm to create its own specialisation in the business world to deliver real value to customers and stakeholders.

Damian Lai from Dream Impact giving a presentation on the importance of having an Impact Business Model 

KK Tse and Damian Lai leading a discussion group with the attendees at the ESG Lab

Businesses can no longer be generalists and this effective balance between stakeholder primacy and environmental or social governance lies in the power of B-Corps. While it is undeniably a challenging process to receive certification, the impact on the world makes this process worth it! 

Watch our reel for a brief summary of the event! 

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