How does Commonstake relate to climate change?
Corporate social responsibility (CSR) is not a new topic but one of its components has recently gained a lot more attention. Climate change is the one cause that connects us all and it comes with an apocalyptic deadline. If the current rate of global warming continues, 10 percent of the global population is at risk of forced displacement caused by climate change by the year 2050 (Environmental Justice Foundation)
It's difficult for the private sector to adapt to the times as modern economic theory stipulates that the only social responsibility of professionals and businesses is to increase profits. Fortunately, economic reform is rapidly transforming into a so-called green economy, a shift that’s being driven indirectly by consumer demand, to which companies are happy to cater. By informing and influencing one another, consumers can take control of their supply chain, divesting from fossil fuels and investing in socially responsible, environmentally friendly, ethically governed companies.
As consumers, we are not yet equipped with the data required to control the social and environmental impact of our shopping habits; also, there is a notorious pricing premium on ethical products, making them quantitatively rather than qualitatively beyond reach for most. Scalechange was created to allow conscientious consumers to invest in companies that share their values and divest from those that don’t, closing the gap that prevents the majority of us from shopping responsibly despite the ubiquitous desire to do so (Ogilvy & Mather)
A new digital currency with conscience, $calechange
helps consumers overcome both obstacles through gamification providing a financial incentive to not only shop ethically but to help provide the data necessary to do so.