The Three P’s by Matt of Parnall Bio Engineering Ltd

How many of us had heard of B-corp status before it became part of Parnall Group strategy? How much does the planet matter to our community? What sacrifices might we need to make? Do we really care? Is the company’s bottom line all that matters?

In reality we will all have varying degrees of commitment to reducing our personal impact on the environment but we all share a common goal in our desire to belong to a successful business that values its community. Businesses that don’t adapt to the changing environmental landscape will ultimately fail because their product, services or raw materials will no longer meet consumer expectations or demnd. A business without a strong environmental impact focus would be taking a huge risk on its profit line and community impact which is why a “Triple Bottom Line” (TPL) or “3P” approach is likely to become mandatory for business over the next five years if not sooner.

HEMPOSITE® is perfectly positioned to deliver a Triple Bottom Line outcome and it has the potential to set a Group benchmark for impact.

How?

Planet
Potential to be “Negative Carbon”. Carbon negativity is the reduction of an entity’s carbon footprint to less than neutral, so that the entity in question has a net effect of removing carbon dioxide from the atmosphere rather than adding it. If successful HEMPOSITE® has the potential to influence green building adoption in the UK.

People
HEMPOSITE® has been designed to deliver increased wellbeing via a higher quality living environment that naturally maintains a constant temperature during the year with fresh filtered air and superior acoustic properties. Peace of mind impact is a factor given the potential “negative carbon” status of the inhabited spaces.  Parnall Bio Engineering aims to provide jobs and prosperity to attached communities through the commercialisation of HEMPOSITE®

Profit
Return for shareholders is no less important for a B-Corp than any other business, without supportive shareholders it is impossible for business to have a positive impact on the planet or community. Even charities have a responsibility to deliver for donors who are effectively shareholders in the outcome. A focus on profit delivery and strong margins builds resistance to economic head winds whilst providing essential reinvestment which in turn leads to further planet and community benefits. To achieve a sustainable financial model a business may require a focus on profit in the short term to deliver long term objectives; this means establishing a realistic set of values to underpin a clear vision and mission strategy. A milestone approach may also be necessary to allow a business to mature before it reaches maximum impact status.

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