Social Venture Institute by SBN

I attended the 6th Annual Social Venture Institute yesterday at the Wharton School of PA. The event was organized by the Philadelphia chapter of the Sustainable Business Network and was dedicated to the Triple Bottom Line principles of doing business. It is a two day event but my schedule only permitted me to attend for one day.

The event was better than expected and was perfect for someone like myself who has in their mission that they are a TBL company. It reminded me that, like everything else in my business, I need to continually improve my actions towards people and planet as well as profits. There were a lot of inspirational examples of businesses that have succeeded by paying their workers living wages, using organic materials/foods and greening their businesses.

I think the one issue that was brought up that could most apply to postgreen was the importance of utilizing other local businesses as much as possible. The economist, Michael Shuman, spoke about some interesting statistics regarding local businesses and their impact on the local economy. Here were a couple stats that really hit home:

• For every dollar that is spent at a national chain store, roughly 18 cents remains in the local economy while 45 cents remains in the local economy if the same dollar is spent at a locally owned store. Example - Borders or B&N vs. local book store.
• If 10% of the retail $$ spent in a community shifted towards locally owned businesses then over 1,000 new jobs would be created in the area. If the same 10% shift was made towards chain stores then over 1,000 jobs would be lost in the area.

Most have heard figures like these before but it is always helpful to have a refresher. This got me thinking about the LEED requirement in the homes program to source materials from businesses within 500 miles, in part to reduce transportation effects on the environment. These stats made me realize how important this aspect of the LEED criteria is and that I need to strive to source as many materials and services from companies well within the 500 mile perimeter to really impact postgreen’s immediate communities. Currently I buy business cards, software and hardware online. I have my websites hosted from who knows where. When we start our first project I can look into using local craftsman like welders and glass shops to make materials that I might otherwise buy from businesses outside of Philadelphia’s borders.

I could go on an on about possible ways to improve postgreen’s TBL impact. This was a common theme at the event but it was refreshing to here that others are succeeding with these approaches. It was also important to hear the most successful companies (in terms of TBL) said that achieving a good TBL is a process that takes time. It can be overwhelming at first because there are so many things that could be improved upon but you just have to keep chugging away at it and make a few good changes to your business each year. There are also times when businesses really wanted to implement more but couldn’t for financial reasons. Rather than sacrificing their economic bottom line they realize that there are just some things that might not be able to be implemented, at least not right away.

I also wanted to note that Terry Gillen from Michael Nutter’s administration spoke briefly on some of the changes we can expect in the near future that may positively effect TBL businesses in the area. Some of the highlights of their intended plans are below:

• A process to expedite permitting for development projects that conform to a set of environmental guidelines similar to what Chicago has put in place.
• Focus on making Philly a better place to do business financially by focusing on how businesses are taxed.
• Encourage infill development on Philly’s many vacant lots.
• Green vacant lots and plant a whole bunch of trees.
• Green the city’s municipal buildings and require LEED ratings on any new buildings.
• Improve recycling immediately.
• Create a sustainability cabinet that will be working with all departments of the city.

Check out some of Nutter’s policies in more detail at his website - www.nutter2007.com. He has a detailed plan for the environment on the site which is worth a peruse.