In an era where sustainable development and social justice are at the forefront of global discourse, businesses are increasingly recognising their role in fostering positive change. One such company leading this charge is Cotopaxi, an outdoor gear brand that seamlessly integrates sustainability, economic equality, and climate action into its core mission.
A mission-driven inception
Founded in 2014 by Davis Smith, Cotopaxi emerged from a vision to combat extreme poverty through business. The company pledges at least 1% of its revenue towards poverty alleviation initiatives, focusing on health, education, and livelihoods in some of the world's most impoverished communities.
Beyond environmental initiatives, Cotopaxi's social impact is profound. To date, the company has aided more than 3.8 million individuals through partnerships with vetted organisations in education, employment, and healthcare sectors.
This holistic approach addresses economic equality and social justice, aligning with several Sustainable Development Goals (SDGs).
The Cotopaxi Foundation’s global impact
Giving is at the core of Cotopaxi’s mission. The Cotopaxi Foundation provides grants to nonprofits that support communities worldwide facing extreme poverty. To date, the foundation has helped an estimated 4.25 million people by improving access to health, education, and livelihoods.
The foundation primarily directs its efforts towards some of Latin America’s poorest communities, investing in health, education, and economic opportunities—key areas identified by MIT’s Abdul Latif Jameel Poverty Action Lab (J-PAL) as having the greatest potential to alleviate poverty. In addition to long-term initiatives, the foundation also supports grantees responding to emergency humanitarian crises globally. Within the United States, it extends support to nonprofits working to enhance education, health, and economic stability.
Podcast: Masters of Scale (credits: https://mastersofscale.com/) A more compassionate capitalism – Cotopaxi’s Davis Smith
Cotopaxi founder Davis Smith believes business can be a force for change. He built a world-class outdoor brand around a simple but powerful motto: Do Good. In this conversation with host Jeff Berman, Smith shares the spark of inspiration that set Cotopaxi in motion, the hard-won lessons that shaped his approach to building teams, and why he chose to step away from the CEO role amid the company’s impressive growth.
Sustainability at the core
Cotopaxi's commitment to environmental protection is evident in its operations. The company has maintained 100% carbon neutrality for three consecutive years, achieving a carbon intensity score under 1%.
By eliminating single-use plastic packaging and transitioning retail stores to renewable energy, Cotopaxi exemplifies a proactive approach to climate action. Notably, their repurposed fabric programs have diverted over 1.8 million yards of fabric from landfills, showcasing a dedication to circularity and waste reduction.
Global collaboration and future aspirations
Cotopaxi's efforts underscore the significance of global collaboration in achieving sustainability goals. By supporting over 4.25 million people through the Cotopaxi Foundation, the company exemplifies how businesses can be catalysts for societal betterment. Looking ahead, Cotopaxi aims to support over 5 million people in poverty by 2028 and achieve net-zero carbon emissions by 2045, reinforcing their commitment to a sustainable and equitable future.
Cotopaxi stands as a testament to the potential of compassionate capitalism. Through unwavering dedication to no poverty, sustainability, social justice, and economic equality, the brand not only meets consumer needs but also contributes significantly to global well-being. As the world progresses towards the SDGs, Cotopaxi's journey offers a blueprint for integrating purpose with profit, ensuring a harmonious balance between business success and societal advancement.
For further insights into global sustainability efforts and the role of businesses in driving change, explore related initiatives and reports on the progress towards the SDGs.
More information: cotopaxi.com
Youtube credits: https://www.youtube.com/@GearForGood
Podcast credits: https://mastersofscale.com/a-more-compassionate-capitalism/