Finisterre - 2021 impact report review
Given that I've worn my Finisterre jumper almost every day since the beginning of October, I thought it was only appropriate to review their impact report as part of this series!
And their CEO explicitly asks for feedback on the report - so here you go Tom 🌊
👍🏻 3 things I like...
1. ACTIVITIES ALIGNED WITH MISSION
Something I talk about a lot is the importance of being super-clear on the impact you want to have so that all your activities (e.g. donations, campaign support, volunteering) are aligned with this. Finisterre are doing this brilliantly so I had a massive smile on my face while reading their report! ❤️ ❤️ ❤️
Finisterre wants “to inspire a love of the sea and protect it together” and they are doing so many different things across their three pillars of product, environment and people to deliver on this, including the work of their foundation.
2. DETAILED UNDERSTANDING OF CARBON FOOTPRINT
They’re really getting into the detail in terms of understanding carbon footprint. And they share that.
It’s eye-opening that 68% of their carbon footprint is from materials – wowzers! That shows why all of their product innovation is so important.
3. APPLICATION OF CIRCULARITY PRINCIPLES
I love the specific examples they give of how they're applying circularity principles to different areas of the product lifecycle – it makes it real.
I also love that all the discussion about circularly and extending product lifecycle is in the product section not the environment section, even though the environmental benefits will be massive. That says a lot about the mindset of the people within the business.
❓3 questions it raises
1. WHAT ABOUT EMPLOYEES?
Employees are such a key stakeholder for any business so I was surprised not to learn more about their employees and their employee model in the impact report. They sound like such an awesome organisation in so many ways that I bet there's stuff about their employment approach that other businesses could learn from!
2. WHAT PROGRESS TOWARDS SUPPLY CHAIN TRANSPARENCY?
They talk about wanting to go deeper into their supply chain and be transparent about where their materials come from. They said they’re working on this in 2022 so I’m curious to hear about the progress they’ve made.
3. WHY DID THEIR COMMUNITY SCORE DECREASE?
They share that their Community score on the B Impact Assessment decreased when they re-certified as a B Corp. They’re doing so much amazing stuff, including through the launch of the Foundation, so I was surprised to see this. I’d love to understand the data behind it.
***
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: