2017 B Corp Report
2017: Expanding opportunities
2017 was a year of growth for 3Degrees. We celebrated our 10 year anniversary. We deepened our commitment to diversity and inclusion. We moved into new markets and expanded our client base.
But most importantly, in 2017, 3Degrees merged with Origin Climate, growing our capabilities and allowing us to serve more customers, more deeply. There was a natural fit between the two organizations, arising in part from our shared B Corps status. With an aligned view on culture and mission, 3Degrees and Origin staff were able to quickly get down to the business of creating synergies from the different experiences and skills sets each brought to the table.
3Degrees and Origin Climate’s core values and company cultures are perfectly aligned, providing the foundation to craft creative solutions for clients and make a greater impact on energy markets and climate change.”Steve McDougal, CEO, 3Degrees
Impact on our clients
Our business is built...
around helping clients take urgent action on climate change. It is the key way that we deliver positive social impact.
RECS AND CARBON
Renewable energy certificates and carbon offsets provide businesses, universities, government organizations and others a direct opportunity to reduce their climate impact. The merger with Origin brought us new capabilities in carbon offset project development, and 2017 was another recording breaking year for both RECs and offsets. Our leadership in these areas was recognized with awards from Climate Action Reserve and Environmental Finance.
Since our founding, a primary part of our business has been helping utilities design and manage renewable energy options for their customers. This work continues to expand with new customers and a growing interest in community solar and customized renewable energy programs that are meaningful to utility clients.
Investments in 2016 and the merger with Origin Climate has allowed us to grow several new lines of business. Our international work has expanded significantly with work in over 60 countries. In addition, we managed two large renewable energy transactions for Akamai and BART, another key area of focus for us. And, as a final example, we have been able to use our deep utility and commercial experience to bring the two groups together to develop green tariffs.
3Degrees was invaluable in providing both in-depth quantitative analysis along with real-world expertise that allowed us to quickly zero in on the best opportunities for BART.”Holly Gordon, Sustainability Group Manager, BART
Impact on our community
In 2017, 3Degrees sponsored thirteen volunteer opportunities for employees across the country. A total of 62 employees participated in at least one event and staff donated a total of 260 volunteer hours to a variety of environmental non-profits.
In addition, we gave over $8000 to twenty environmental initiatives that our employees care about. Among other causes, these donations helped support community gardens, restore wetlands, and provide environmental education to school children.
This year, we joined with OneEnergy and Net Impact to sponsor the Energy Scholars program, which is designed to foster a new generation of skilled professionals dedicated to fighting climate change. In addition to providing mentoring and networking opportunities, 3Degrees also hosted an Energy Scholar intern.
Building on our sustainability actions (including reporting and offsetting all greenhouse gas emissions), in 2017 we developed a five year comprehensive sustainability action plan covering all business operations including supply chain, travel and commuting, office waste and water usage.
IMPACT ON OUR EMPLOYEES
To celebrate our 10 year anniversary and to build connections with our new colleagues (formerly part of Origin Climate) 3Degrees held a two day retreat in April at Asilomar, California. The agenda included time for planning as well as time for socializing and team building.
In 2017, we worked on building new skills in our employee base with a keen focus on diversity and inclusion. We offered three brown bags with D&I themes in 2017 as well as more than nine other brown bags on a variety of industry trends and other topics.
3Degrees used International Women’s Day 2017 as a way to educate staff on gender and equity issues. The activities including a symbolic strike, a pledge, a donation and education and served as a tie in to our other work that we were doing as part of B Corp’s Inclusion Challenge.
For the fourth year, 3Degrees was recognized as a Bay Area “Best and Brightest” employer which is based on both an employee survey and a review of best practices. Our focus on diversity and inclusion and work-life balance were highlighted in the award.
Our “True to Our Core” initiative provides opportunities for employees to work with senior leaders on key initiatives for 3Degrees. In 2017, nearly one third of our staff participated in shaping company culture and business priorities.
80% of employees found our inaugural diversity and inclusion training to be very or extremely valuable and only 30% of employees had taken diversity training before.”DIVERSITY & INCLUSION TRAINING AT COMPANY RETREAT
PUBLIC BENEFITS AND DISCLOSURES
3Degrees is both a B Corp as well as a benefit corporation under California law. We work to provide a public benefits to our clients, our employees and the community.
3Degrees measures our public benefit through B Lab Impact Assessment which measures a company’s positive social impact on its stakeholders. We have been using this assessment since 2012, the year we registered with B Lab. This audit takes place once every two years and will happen again in 2018.
There is no organizational connection between 3Degrees and B Lab, although a 3Degrees shareholder (and board member) donated a significant amount of money to B Lab when it was founded.
The 3Degrees shareholders with an ownership stake of more than 5% are Daniel Kalafatas, M. Hadley Mullin, Stephen McDougal, Jan McDougal, The Alfred McDougal Trust, Mark Mondik, Erin Craig and American Resources and Biochemical, Inc. (Harry Halloran).
WHAT'S NEXT FOR 2018
We have big plans for 2018, including:
- Completion of our first equity audit
- Formalizing our sustainable purchasing policy
- Launching career development training for staff
- Engaging at least 75% of staff to participate in volunteer activities
- Integrating UN Sustainable Development goals 7 and 13 into all relevant activities