People often roll their eyes when a company states that it has set out to achieve an aim that not only brings in profits but also benefits society. To be fair to the non-believers, many companies do lose their way once profit margins and shareholders become the drivers of business decisions, and once powerful founding words become just that – phrases that look pretty on walls, rather than binding contracts.
Knowing that we would need to be different, and act differently, to others who have tried to provide the public with an official digital identity, we not only created a company founded on strong values but also put in place a system that would bind us to those values, no matter what. We have to make sure that ‘Simpler, Safer, Fairer’ is not just a pretty phrase but instead something that we live by every day. Take ‘Fairer’ for example:
Yoti will be fair and transparent in how we operate.
For us, being fair goes beyond how we distribute our app or how we deal with our business partners. We also intend to leave positive footprints in other areas, like how we impact the environment, and the well-being of our employees. Our challenge is that, at a certain point in our journey ahead, transparency and fairness will become less visible to external and internal stakeholders. How many of us can confidently claim that we know or understand what goes on behind the scenes of well-known brands?
To ensure that we carry this value with us for the long term, we are proud to announce that we are now a B Corporation; part of a community of companies that use the power of business to solve social and environmental problems.
B Corps are required to consider the impact of their decisions on their employees, suppliers, community, consumers, and environment as well as shareholder value. This certification allows us to introduce conversations about our social and environmental impact into the company, community, and the board room. We are inspired by this movement that overwhelmingly proves the feasible harmony of business interests with social and environmental responsibility.
Our lives, and that of future generations, will become easier if we act with the understanding that we are each dependent upon another.
You can find out more about the B Corps movement here.