What it Means to be a Responsible and Equitable Company
SimpliPhi Power, now a part of the Briggs & Stratton portfolio of companies, achieved its highest 1st Quarter revenue in 2022 with an approximate 42% growth rate over the 1st Quarter in 2021. As a profitable purpose-driven company, we attribute our continued success to executing on the founding principle of an integrated bottom line, where performance is measured through three equally important metrics – people, planet, profit. These principles are central to SimpliPhi’s strategic business decisions and are the backbone of our IDEA campaign to dedicate 1% of our annual revenue to Deliver Energy Access, as well as our commitment to the UN Global Compact and publication of our annual Sustainability Report. I hope you enjoy reading about both initiatives in the Q1 Newsletter.
The world has changed dramatically since the advent of COVID in early 2020. The global pandemic continues to challenge the way we live, driving further lockdowns with increasing socioeconomic inequity, causing dramatic shifts across labor, education, and health care. Escalating supply chain shortages, rising costs and volatile financial markets are accelerated by climate driven disasters – now further exacerbated by recent geopolitical events.
All these forces are in a constant and unpredictable state of flux. But mitigating the rapid progression and devastating impact of climate change is the existential threat of the 21st century. Here, companies have an opportunity, if not an obligation, to make an impact for the better, particularly as governments and political affiliations become more extreme, polarized, and deadlocked. We are seeing a shift away from shareholder capitalism to stakeholder capitalism, where businesses across industries choose to actively incorporate the interests of employees, customers, communities, partners, and society as a whole. This, along with including shareholders and investors in their business plans and decisions, is unlocking healthier financial returns that are well documented. It is my hope that more businesses will heed the data, performance and financial returns evidenced by these companies. People, the planet and indeed profits depend on it.