How to spend your money with companies that share your values
From small one-time purchases to monthly service fees, you may not think much about what happens to your money after spending it.
But beyond the typical considerations, such as price and product features, many savvy shoppers are starting to pick their brands and services based on new criteria like ethics. An ethical company treats both its employees and customers fairly and practices environmental sustainability. Luckily, there is some guidance out there for those consumers who want to spend their money with companies that share their values.
We are all aware of the horrors of sweatshops and the environmental impact of “fast fashion,” but clothing manufacturers don’t publish their misdeeds on their care labels. They do, however, usually publish their mission statement on their corporate website. If they are proud of their mission and ethical standards, they will prominent on their website. It’s a great idea to research your favorite brands or stores in your free time so when it comes time to make a purchase you already know where to go.
Patagonia’s mission statement is to “build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” A leader in social and environmental responsibility efforts in the fashion industry, the company is fair-trade certified for all its sewing production and is dedicated to transparency. Consider shopping here if you want to look good and feel good.
One good resource to check out is “The World’s Most Ethical Companies” list, released annually by the Ethisphere Institute. It offers a quantitative assessment of a company’s performance in corporate governance, risk, sustainability compliance and ethics, and knowing a company or brand has scored high on this particular assessment can help set your mind at ease.
For the 10th year in a row, that list includes T-Mobile, which, among other initiatives, committed to move to 100 percent renewable energy by 2021, the only major wireless provider to do so. As one of only five honorees in the telecommunications industry to receive recognition from the Ethisphere Institute in 2018, they also landed on Best Place to Work lists for parents, diversity, the LGBTQ community and more. T-Mobile was also given a perfect score of 100 percent on the Corporate Equality Index by the Human Rights Campaign. For the full list of the 2018 World’s Most Ethical Companies, visit www.worldsmostethicalcompanies.com.
Red or white? The next time you imbibe, consider going beyond the wine’s flavor and potential pairings, seeking a bottle from a company that you know treats its employees well. Included in Glassdoor’s 2018 Best Places to Work Employees’ Choice list was E. & J. Gallo Winery, a familyowned company with a strong internal program to foster diversity and career development among underrepresented communities.
Whether you’re shopping online, hitting the mall or choosing services that help you connect with friends, family and the world around you, consider doing a bit of research before making your next consumer decision to ensure you’re comfortable with where your money is headed.
— StatePoint