Belu - 2023 impact report review
I knew this impact report would be a good one because I was lucky enough to work with one of the Belu’s Co-CEO’s (Natalie) a few years ago and so I know (a) she knows all about delivering impact (b) she’s also deeply commercial.
👍🏻 3 things I like...
1. PURPOSE P&L
Belu’s Purpose P&L is a thing of beauty – I definitely recommend you check it out!
It tracks from revenue into the business all the way through to impact delivered, showing how operating profit is allocated to the different SDGs that they’re focused on.
I can imagine helping other businesses to create something similar and then using it as a basis for a discussion about how profit is allocated. E.g. what is the rationale for funding going to anywhere other than to the pillars of their impact strategy?
2. RECOGNISE IMPORTANCE OF PARTNERSHIPS IN DELIVERING IMPACT
“Our impact partnerships enable the part of our Purpose P&L which really makes a difference”
The big gnarly problems that exist in the world are complex and systemic. No one business can tackle them on its own. We need to collaborate to create change.
Belu recognises this and shares detailed information about their key suppliers and charity partners. E.g. their supplier partnership which is helping them achieve net zero glass bottles.
3. CHARITY FUNDING ALIGNED WITH MISSION
Belu’s charitable donations are aligned with their mission. Their long-term partnership with WaterAid makes complete sense. As does the work they’re doing with The Canal & River Trust.
When a business focuses its time and money on a specific problem then, over time, this can add to make a difference.
❓3 questions it raises
1. HOW DO THEY ASSESS IMPACT PARTNERS?
They say “we’ve chosen like minded organisations with expert teams who can maximise the impact of our investments in people and planet”. I’m curious to know how they assess partners so that they’re confident that they are the ones who can maximise impact.
How do they do this initially when establishing the partnership? And how do they keep checking that impact is being maximised on an ongoing basis?
2. HOW WILL FILTERED WATER TAPS IMPACT BUSINESS MODEL?
Filtered water taps are interesting as they are helping Belu shift to a less carbon-intensive, less wasteful, service-based model. I’m curious to see how their business model evolves.
3. WHAT NEXT INTERNATIONALLY?
I love that they say “we will never ship single use product overseas”.
The filtration model has enabled them to move beyond single use products and expand into Hong Kong. This moves the business beyond the UK and opens up potentially huge opportunities. I’m curious to see what strategic decisions they make about international expansion.
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You can read the report for yourself here and let me know what you think.
If you’re preparing to write your own impact report, you might find my FREE Impact Reporting Roadmap helpful: