SPZ is excited to announce a significant milestone in our journey towards heightened social impact and corporate philanthropy. Joining the global movement of Pledge 1%, we are committing to contribute 1% of our profits and 1% of our team's time to charitable causes.
What is Pledge 1%?
Pledge 1% is a revolutionary initiative that encourages companies to embed social responsibility into their business model. It's not just about donations; it's about making a commitment to integrate giving back into the core of a company's operations. With over 18,000 members in 100 countries, the movement has successfully ignited over half a billion dollars in new philanthropy, proving that corporate giving can be both flexible and impactful.
What is Social Impact to SPZ?
Social impact refers to the measurable effect an organization's actions have on addressing social and environmental challenges within its community or on a broader scale. It encompasses the positive changes a company supports or influences through initiatives, policies, and projects that contribute to societal well-being.
Corporate responsibility, on the other hand, extends beyond direct impact to encompass the overall commitment of a business to ethical, sustainable, and socially conscious practices. It involves the acknowledgment of a company's accountability to not only its shareholders but also its employees, customers, communities, and the environment.
Together, social impact and corporate responsibility underline a business's dedication to making a positive difference in the world, fostering sustainable practices, and contributing to the greater good.
Some examples of social businesses include companies focused on DEI (diversity, equity, and inclusion), clean tech, climate tech, and edtech companies, as well as b corps or benefit corporations and women or minority-led businesses. Many of SPZ’s clients serve these important industries and we are constantly looking to expand our reach to more scaling impactful companies.
How Has SPZ Legal Embodied Social Responsibility?
In practice, SPZ has donated more than 1% of our profits and more than 1% of our team’s time every year since our incorporation. This pledge is a testament to our belief in the power of businesses to make a meaningful impact in society.
At SPZ, we pride ourselves on being a local boutique firm with a global reach, providing exceptional legal services to a diverse range of clients, from bootstrapped startups to venture-backed companies in various industries. Our core focus is on supporting companies that have impact baked into their business model.
The decision to pledge 1% of our profits and 1% of our time is an extension of our commitment to our clients and the communities they support, reflecting our dedication to making a positive difference in the world.
To fulfill our commitment, we will continue to make donations to organizations doing critical work and our team will continue to actively participate in selecting the organizations to receive our support. Additionally, we are dedicated to providing pro bono representation to underrepresented founders through initiatives such as the Startup Legal Initiative (SLI) in partnership with Berkeley Law. This is our way of ensuring that legal services are accessible to those who need them the most, particularly those who are underrepresented in the legal community or lack the funds to afford services.
To date in 2023, SPZ donated to the following charitable organizations:
- Turkish Philanthropy Funds
- Santa Fe Art Institute
- Jane Goodall Foundation
- Sustainable Economies Law Center
Why Businesses Should Consider Committing to Pledge 1%
Pledge 1% is a global movement that encourages businesses of all sizes to commit a portion of their equity, product, profit, or time to address societal challenges. By taking the Pledge, companies integrate philanthropy into their business model, creating a positive impact from the outset.
However, the benefits extend beyond altruism. Committing to Pledge 1% not only aligns a company with a community of like-minded businesses but also enhances its brand reputation, employee engagement, and customer loyalty. Engaging in corporate philanthropy through Pledge 1% fosters a sense of purpose among employees, attracts socially conscious consumers, and can even lead to increased innovation and long-term business sustainability. It's a powerful way for companies to demonstrate their commitment to social responsibility. We encourage other companies and entrepreneurs to consider making the Pledge 1% commitment!
Find out how you can use investment funds to contribute to causes your team cares about - and strategies for doing so.
