There is a reason behind the exponential growth that the Economy for the Common Good (ECG) has experienced in Latin America, specially following the foundation of the Latin American Continental Chapter (CCLA). In the current environmental and socioeconomic landscape, more and more organisations are looking for robust, transparent and adaptable structures that guide them towards ethical and sustainable business practices that are also realistic for their available resources and context.
Since its foundation in 2017, Ecotu SAS BIC has been such an enterprise. Their cosmetic and personal hygiene products are free of harmful chemicals and heavy metals, which are common ingredients in competing products offered on the market. They are designed for a crucial group: pregnant mothers and babies. Over the years, they have developed a selection of 100% natural products, pushed forward by environmental preservation as a constant driving force.
The human team behind the brand has taken concrete steps to reduce the presence of plastics in the ecosystem, recognising the importance of a healthy planet for generations to come and embarked on a mission to raise awareness on the importance of using non-toxic products to prevent illness. With the guidance of a representative of the Bogotá-Sabana Local Chapter, they recently implemented the Common Good Balance Sheet, becoming pioneers in Colombia. This innovative tool allowed them to quantify the impact that their business operations had on society and the environment throughout 2022, transcending the conventional confines of the economy. Furthermore, this process helped them complete a report to qualify as a Commercial Company for Collective Benefit and Interest (BIC) before the Colombian Superintendence of Companies.
There is a real, urgent need for alternative economic models and tools that address the root of environmental and social challenges. ECG companies are committed to the common good, to cultivating solid relationships with stakeholders and strengthening organisational culture in harmony with fundamental values: human dignity, solidarity, democratic participation and ecological sustainability. ECOTU SAS BIC aligns with these priorities, as the founders are convinced that a successful business is not strictly about profit, but about having a positive impact on society and the planet.
This year, another Colombian company became a pioneer for being one of the first to apply the Ecogood Business Canvas, and Uruguay was home to the first Latin American company to complete their Balance Sheet and Audit. All different ways to contribute to the common good by applying the available ECG models and tools.
