3DEGREES 2023 B CORP REPORT

 
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2023 ANNUAL B CORP REPORT

For nearly two decades, 3Degrees has been a driving force in the global fight against climate change, while simultaneously fostering positive social outcomes.

In 2023, we further strengthened our leadership in this arena through strategic investments in technology and the expansion of a diverse and dynamic leadership team. This unwavering commitment to innovation fueled our ability to deliver impactful solutions for our clients, empower our employees, and contribute meaningfully to the communities and environment we serve.

As a certified B Corporation since 2012, 3Degrees is proud to be part of a global movement of businesses redefining success. B Corp certification signifies that we have met rigorous standards of verified transparency, strong corporate governance, and positive social and environmental impact. As a global provider of renewable energy and decarbonization solutions, climate action is at our core. B Corp values are woven into the fabric of our operations, guiding our efforts toward building a more inclusive, equitable, and regenerative economy. We leverage the B Lab framework as a continuous improvement tool, ensuring we remain accountable to these values and contribute to a better future.

2023: A Year of Acceleration

Throughout 2023, our focus remained on advancing technological solutions that empower organizations worldwide to embrace a decarbonized future. We expanded our technological capabilities and bolstered our leadership to further support our clients and their suppliers in achieving their ambitious global sustainability goals. Through this period of accelerated growth, we never lost sight of our core values. Our people, clients, communities, and the environment remain at the forefront of everything we do.

Read on to learn more about how we strived to be a force for good in 2023, making a positive impact on a global scale.

Impact on Employees

At 3Degrees, we’re committed to bold and urgent climate action. We believe a diverse and inclusive environment where employees feel valued and empowered is crucial to achieving our goals. In 2023, as our global presence grew, we prioritized initiatives that fostered a strong and thriving workforce to create (or reinforce) a work environment where employees continue to feel valued, connected, and empowered to contribute their best selves to the critical work we do every day.

BUILDING A DIVERSE AND INCLUSIVE WORKPLACE:

  • Leadership by Example

    We expanded our executive team and Board of Directors with leaders who align with and will champion our values as a mission-driven B Corp. We welcomed and appointed new colleagues from diverse backgrounds with deep expertise in sustainability, technology, environmental markets, legal, finance, risk, and engineering. This expanded leadership team demonstrates diverse perspectives and approaches, reflecting our commitment to fostering an inclusive and equitable workplace.

  • Investing in Global Collaboration

    Recognizing the importance of face-to-face interaction and shared experiences, we opened and expanded offices in New York, NY, the Netherlands, and Norway. Additionally, we launched a flexible hybrid work policy, allowing global teams to seamlessly collaborate in person or remotely. In June, we hosted an offsite for our European employees, “Better Together,” bringing together team members from 9 countries, 15 languages, and 10 departments for a multi-day event that fostered collaboration, and aligned the team on our continuous growth goals and a stronger sense of community.

  • Leading the Charge on Gender Equity

    In 2023, we made significant strides towards achieving gender equity in the workplace. This comprehensive approach was driven not only by our commitment to inclusivity but also by the dedication of our leadership team. Our leaders remained true to our company values by investing time in working with coaches to expand their awareness of gender equity issues. This commitment cascaded down throughout the organization, fostering a strong foundation for our initiatives. We launched a variety of workshops and self-paced resources designed to equip all employees with the knowledge and tools needed to foster a more inclusive environment, particularly for women. The workshop series included thought-provoking sessions such as:

    • “Women in the Workplace: The Latest Research,” which delved into current trends and challenges.
    • “More Than Men and Women: Beyond the Binary” explored gender identity beyond the traditional binary.
    • “Allyship to Women” provided practical strategies for supporting women in the workplace.
    • Additionally, workshops tackled crucial topics like “Working Parents and Work/Life Balance” and “Pay Fairness, Equity + Transparency,” addressing challenges faced by working parents and promoting equal compensation practices.

BUILDING A THRIVING WORKPLACE: WELL-BEING & INCLUSION

  • Investing in Your Well-being

    We prioritize employee well-being by offering a comprehensive benefits package including:

    • Flexible PTO: Take time off to recharge and focus on personal priorities.
    • Wellness Days: Dedicated days to unplug and prioritize self-care.
    • Wellness Benefit Fund: Financial support for activities that promote healthy habits.
    • Paid Volunteer Time: Give back to your community and connect with causes you care about.
  • Cultivating a Culture of Belonging

    We are committed to fostering a welcoming and inclusive work environment for everyone. We actively strive to increase diversity across our workforce, and continue to make positive progress.

    • Talent Pool: The racial diversity of our talent pool has grown significantly, rising from 12% in 2021 to 53% in 2023.
    • Staff Representation: We’re committed to continued progress, with 31% of our current staff identifying as Black, Indigenous, and other People of Color (BIPOC).
  • Building Social Awareness and Inclusivity

    Our employee managed Business Resource Groups (BRGs) played a vital role in fostering social awareness and inclusivity within our global workforce. They spearheaded a series of engaging “Lunch & Learn” sessions focused on employee development in this area.

    • These sessions featured award-winning musician Jake Blount, a specialist in the early folk music of Black Americans, who provided unique insights into cultural heritage. We also welcomed Dr. Dorceta Taylor, a renowned environmental sociologist, who explored the intersection of environmental justice and racism in the environmental movement.
    • In addition to these guest speakers, the BRGs continued to offer guided meditation sessions. These sessions ensured all employees have access to mindfulness practices, which can promote well-being and contribute to a more positive work environment.
  • Invested in employee growth and development

    In 2023 we expanded our focus on employee development by making significant strides in creating a culture of continuous learning and growth, ensuring everyone has the tools and resources they need to thrive.

    • Tailored Learning for Every Step: We revamped our learning and development programs to offer a wider range of content that’s directly relevant to each employee’s role and goals. This means our team members have access to more targeted learning opportunities, allowing them to hone their existing skills and develop new ones that will propel them forward in their careers.
    • Smoother Onboarding for a Faster Start: We evolved our onboarding process to create a more welcoming and inclusive experience for new hires. Our enhanced onboarding modules not only provide essential information but also foster a sense of belonging from day one. This streamlined approach gets new team members up to speed quickly and effectively, allowing them to make meaningful contributions within their first 90 days.
    • Learning Together, Growing Together: We leveraged the strengths of our Business Resource Groups (BRGs) and other internal communities to create a diverse range of learning opportunities across the company. These programs not only equip employees with valuable new skills, but also encourage collaboration and break down silos, fostering a more inclusive and connected work environment.
    • Equal Opportunities for All: We remain committed to ensuring that all employees have an equal opportunity to grow and develop their careers. We’ve made accessibility and inclusivity a core tenet of our learning and development programs, so employees from all backgrounds and abilities can participate and reach their full potential.

IMPACT ON CLIENTS

In 2023, the urgency for climate action continued to accelerate. Global organizations stepped up and responded to that urgency, enlisting 3Degrees as a trusted partner to craft tailored climate strategies and provide seamless implementation support. We leveraged cutting-edge technology to empower clients and their suppliers with a wider range of solutions for navigating and achieving their decarbonization goals, ensuring both business success and a positive impact on people and the planet.

Climate action innovations

New and innovative solutions are required to face the urgency of climate change. That’s why we are expanding our efforts with first-of-its-kind technology, like our methane avoidance project at Skyridge Farms, which was approved last year by Verra, the global carbon standards body. 3Degrees manages the project that uses Livestock Water Recycling’s (LWR) First Wave System and allows Skyridge Farms to eliminate methane production from their onsite waste. Projects like these support our clients’ efforts to decarbonize their supply chain and are a crucial step in reducing scope 3 emissions.

Additionally, 3Degrees expanded its climate tech advisory service by partnering with leading climate tech providers including IBM, Persefoni, and Position Green. The partnerships combine the organization’s cutting-edge climate technology with 3Degrees’ top-tier consulting service and environmental attribute portfolio to help companies onboard the platforms with climate strategy experts.

Creating positive social outcomes

In 2023, 3Degrees was proud to continue to expand our support of Peace Renewable Energy Credits (P-RECs). During the previous year, in collaboration with Energy Peace Partners (EPP), our team facilitated the first P-REC transaction in South Sudan, funding the solar electrification of Malakal Teaching Hospital, which was completed in December 2022. Last year, we supported a repeat P-REC agreement in the climate-fragile country, which will fund the solar electrification of Bor State Hospital. Learn more here.

Equipping gas utilities with an efficient, cost-effective, and low-risk option for customers to take climate action

Since 2022, 3Degrees’ Smart Launch Solution™ has enabled natural gas utilities to offer their customers a choice to address emissions from their natural gas use. This low-cost, low-risk solution empowers gas utilities to easily launch their own voluntary program, allowing customers to take climate action now. Smart Launch Solution provides a blended supply of carbon credits and renewable thermal certificates (RTCs), along with the marketing tools and program management support necessary to get a program approved, launched, and stood-up as efficiently as possible. Learn more here.

IMPACT ON COMMUNITY

At 3Degrees, we made a company-wide effort to strengthen the communities where we work and live. Through our charitable giving and paid volunteerism programs, we encourage employees to support causes they are most passionate about.

Our 3DGives Business Resource Group (BRG) serves to advance 3Degrees’ values, mission, and social mission to advance a just transition in our day-to-day work by empowering all employees to have a meaningful impact on causes they care about, specifically through volunteerism and charitable gifting.

The 3DGives BRG continues its work to encourage charitable giving through our employee-directed donation and matching programs, enabled volunteerism through offering paid volunteer hours to our team, and providing a $10k grant to three organizations that do work to advance a just transition.

 
 

Building a more equitable future requires collaborative action. In 2023, 3Degrees invested in these organizations, aligning our social mission with theirs to advance a just transition to a low-carbon future:

  • Native Renewables: An Arizona-based organization working to empower Native American families to achieve energy independence by growing renewable energy capacity and affordable access to off-grid power.
  • Rising Sun Center for Opportunity: A nonprofit organization building career pathways for economic equity and climate resilience via green training, employment, and residential energy efficiency grounded in equity.
  • RE-Volv Mission: Building a Brighter Solar Future. This climate justice nonprofit equips nonprofits in underserved communities nationwide with solar energy solutions. It raises awareness about equitable climate solutions and cultivates the next generation of clean energy leaders. Its local focus allows communities to accelerate clean energy adoption.

 

BY THE NUMBERS – CHARITABLE GIVING:

  • 102 organizations received donations through both employee-directed donations from 3Degrees and donation matching programs
  • Over half of total donations were gifted to organizations that align with a just transition
  • 110 retired laptops donated to FreeGeek and the Nisqually Youth Center; 3Degrees also purchased and donated laptop power adapters for the Nisqually Tribe

 

BY THE NUMBERS – VOLUNTEER WORK:

  • 52 employees spent a total of 667 hours volunteering during our B of Service week and Servathon, where we encouraged employees to utilize their volunteer benefits, including paid volunteer hours

IMPACT ON ENVIRONMENT

At 3Degrees, sustainability isn’t just a talking point, it’s a guiding principle. As a climate solutions provider, we believe in leading by example. By continuously seeking ways to minimize our environmental impact, we hope to inspire and empower our customers on their own journeys to achieve ambitious climate goals.

We’re relentlessly pursuing a net zero future and, in 2023, we made significant progress towards achieving net zero emissions in our own operations by 2030. Guided by the SME Climate Hub and B Corp’s Climate Collective standards, we appointed a Chief Sustainability Officer, who is diligently leading the company to implement measures to turn our net zero vision into reality.

 

ADVANCED COMPANY SUSTAINABILITY

  • We improved our greenhouse gas accounting methodology, focusing more on impact rather than the time spent accounting to right-size our efforts. Our corporate sustainability team and various departments worked together to account for all impact and improve methodologies. 
  • We purchased water restoration credits to account for all water usage in 3Degrees’ physical offices and remote workspaces. 
  • In 2023, we implemented an internal carbon tax valued at $100 per employee, and used the funds to purchase carbon credits from projects that avoid or remove greenhouse gas emissions from the atmosphere.

 

EMPOWERED INDIVIDUAL CLIMATE ACTION

  • We continued our employee education and engagement efforts via environment-focused Lunch & Learn sessions that featured Tahoma Peak Solutions and REvolv – and hosted an employee-led discussion on Solar, Heat Pumps & EVs with supplemental IRA information. 
  • We partnered with the National Forest Foundation and continued a program that invites employees to opt to plant trees in place of receiving company gifts. To date, 3Degrees employees are responsible for planting over 4,500 trees.

IMPACT ON GOVERNANCE

Inspired by a Global Movement: B Corps are a force for good, driving positive change beyond traditional business goals. We’re proud to be part of this movement, and in 2023, we actively strengthened our commitment through the following initiatives:

  • Advocacy: Our B Corp Business Resource Group serves as a powerful voice promoting social and environmental responsibility. The BRG hosts comprehensive content on our intranet and advocates for policies that support the B Corp movement’s goals, raising awareness within our company and beyond. 
  • Social Media Engagement: We leveraged platforms like LinkedIn, X, and Instagram to share our B Corp story, highlight the social and environmental impact of our work, and celebrate the achievements of other B Corps.
  • Themed Events & Collaborations: Throughout the year, including B Corp Month in March, we organize special events and utilize communication channels to showcase other B Corp products and services. We host webinars, share resources, and run educational and engaging contests.
  • Community Engagement: Our team members actively participate in workshops and retreats that advance the B Corp movement’s goals. Through collaboration and knowledge-sharing, we contribute to the collective progress of this impactful community.

BENEFIT CORPORATION

PUBLIC BENEFITS AND DISCLOSURES:

  • 3Degrees is both a B Corp and a benefit corporation under Delaware law. We provide public benefits to our clients, our employees, and the community.
  • 3Degrees measures our public benefit through the 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 three years and we’re currently undergoing our fifth recertification.
  • 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 McDougal Family Foundation, Mark Mondik, Erin Craig, and ARB, a family investment office.

As we look towards the future, 3Degrees remains committed to building a more sustainable and equitable world. By leveraging the power of leadership, technology, and our dedicated team, we are focused on delivering impactful solutions for our clients, empowering our employees, and contributing meaningfully to the communities and environment we serve.

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