The rise of sustainable ecosystems
By John Featherby
A new phase in the transition to a more sustainable economy has begun. And it has all of us environmental and social change agents excited.
The 20th Century gave us sustainable products. The early 21st Century gave us sustainable businesses. And — finally — we now see the formation of sustainable ecosystems.
So, what is a sustainable ecosystem? It’s the creation of an interdependent, self reinforcing web of infrastructure and services that supports sustainable enterprise. A constant source of energy, finance and stability. Trying to run a sustainable business was once like planting and maintaining a tree in an arid landscape; a landscape virtually designed to overcome it. Creating a sustainable ecosystem is like giving that tree a whole new climate; a landscape designed for life.
What’s a good example? Take the ever-growing community of B Corps. Once upon a time, they were just sustainable businesses acting independently. A decade ago it was just a handful of companies doing their own thing, trying to make their own way within a system that was not its immediate friend. Then an idea arose for them to coalesce around; a structure for them to be part of. Now perhaps only 70 countries have a higher GDP than the B Corp community’s aggregate annual turnover and a worldwide movement has emerged around them.
Today, a critical mass has been reached. We are at a tipping point. But we have not reached here without having overcome considerable obstacles. A landscape where the traditional business, not the sustainable one, was underpinned by a breadth of social, public and legal infrastructure that encourages the consumption of their products. Early on, conscious consumers and early adopters were often (but not always) able to support more sustainable enterprises with their willingness to pay a premium or sacrifice quality. But not any more. The scale and maturity of the sustainable marketplace no longer demands this level of homage to the cause: if you want high-quality products from conscientious businesses at the right price you are now spoiled for choice.
Until now, what has been missing is infrastructure beyond the businesses themselves that enables their market penetration. In short, things that make it easier for us to find them and give them our cash. Enter stage left the sustainable ecosystem champions. A small but growing number of enterprises have cottoned on to this economic tipping point and are lubricating the fun we all want to be having: buying from better businesses.
This is great for the customer. But it also provides the fuel and infrastructure these businesses need to deepen their roots and become an irremovable component of this century’s economy-as-usual.
Koin Rewards is one of these sustainable ecosystem champions. Koin Rewards is encouraging access to — and expenditure within — a range of sustainable businesses. An easier way to find products from businesses that are not just in it for the sale. But it also gives the customer something in return: rewards in the form of tokens (like a currency). Rewards schemes are nothing new — they are well established because they work. But this is the first time that a reward scheme has been materially applied for a purpose beyond more consumption at, say, your favourite supermarket. It’s leveraging behavioural and consumer science to build an economy of purpose.
But there is something else. As Koin Rewards grows it will increasingly enable ways for users to use their tokens not only for discounts (as per rewards-as-usual) but to allocate them directly to social and environmental benefits, such as carbon offsetting or impact investments. Being able to allocate those rewards away from more consumption into something regenerative compounds its service to the ecosystem.
Buying good never felt so good.
About John Featherby
John (Founder, Shoremount) is a founding member of the B Corp movement in the UK, and Investment Committee member of a multi-award winning £200m impact investment fund.
