With consumers becoming more discerning, choice and loyalty to brands are no longer based on quality and price. Consumers are increasingly interested in corporations’ business practices, values, and accountability.
Organisations must not only innovate in their product offering but ensure they stand to be included on the social front. It is therefore not surprising to see companies taking on non-traditional social roles for the good of society.
By leveraging their resources, infrastructure, and influences, corporate bodies are partnering with communities to maintain relevance and authenticity in the marketplace. In a fast-paced tech-savvy world, organisations must communicate and demonstrate their stand on pressing community needs and ensure all stakeholders are looped in these broad conversations.
To be in the hearts and minds more is expected, and empowering communities has become an integral part of corporate strategy.
This shift has given much-needed tailwinds to independent corporate foundations, and non-profit organisations funded by companies for social impact. Social investments are now shaping consumer choices and are of interest to stakeholders and investors.
Indeed, the most active corporate foundations in Kenya are industry titans. But there is a need for social investments to be linked to the corporate strategy to ensure investments add value, spur growth, and mitigate social risks.
Companies must be strategic in their social investments and ensure alignment with corporate goals.
This allows the companies to achieve multiple goals simultaneously and efficiently. For instance, alive to the climate change challenge and to achieve regulatory compliance, Kenya Pipeline Company (KPC) and its KPC Foundation are supporting a robust environmental conservation programme aimed at habitat restoration and reforestation with a focus on mangroves in Jomvu and Tudor Creeks.
Working in partnership with the local communities’ indigenous varieties of mangroves are planted. The mangroves are the most efficient carbon capture system on the planet storing up to 10 times more carbon than terrestrial forests.
Local communities earn a living from this project as their tree nurseries supply the seedlings. They are also engaged in paying jobs of pitting and planting the mangroves.
These are investments that KPC is leveraging for Carbon Credits. As part of this program, over the next 10 years, the company and its foundation plan to grow 5 million trees at a cost of about Sh500,000,000.
Reflecting on the impact of corporate foundations, an elderly fisherman in the Jomvu Creek, recently spoke hopefully of a return of the budding breeding grounds for fish and marine life in the Creek, that he once knew in his youth.
Planting the mangroves not only protects the shoreline from erosion but also rejuvenates the marine ecosystem, providing a haven for fish and other aquatic life that his family depend on for their livelihood. What he thought was a career at its end has brought hope for fishermen. This encounter encapsulates the essence of why corporate foundations are crucial.
They are not just about financial donations or enhancing company profiles; they are about making tangible differences in people’s lives.
They are about restoring hope, fostering sustainable development, and creating a legacy of positive change. By investing in the communities, they serve, corporate foundations like ours play a pivotal role in building a brighter, more sustainable future for all.
