BrewDog Will Away Give 20 Percent Of Its Profits
(3BL Media/Justmeans) - BrewDog was woofed up its CSR program and will give away 20 percent of its profits every year, the company has announced. 10 percent will be shared equally among its staff, and a further 10 percent will be channelled to charities chosen by company’s workforce and its thousands of "Equity Punk" investors across the globe. This will be done through the 'Unicorn Fund'.
The latest move is in line with the company's unorthodox modus operandi. It was launched in 2007 with its Equity for Punks crowdfunding program, which BrewDog says helped power its ‘unprecedented' growth'. And if business froths up to the targets the company has set, BrewDog estimates it will donate more than $58 million via Unicorn in the next five years.
The shareholders will gain access to an online platform where they can manage the destination of the funds, comprised of seven 'spotlight' charities, plus another 13. Of the total 10 percent of profits donated to worthy causes, five percent will go to charities chosen by BrewDog’s investors, and five percent will be issued to charities chosen by its global team of employees.
Any funds not allocated voluntarily by staff and Equity Punks from their allowances will be automatically shared out to the spotlight charities. Besides, BrewDog has also committed to reinvesting the balance of its profits back into the business for at least the next seven years.
“In our tenth year at BrewDog, we hope to inspire a new kind of business with the Unicorn Fund—one that doesn’t measure profit in purely monetary terms. Our mission for the next decade at BrewDog is not simply to redefine the beer industry, but to redefine industry itself," said James Watt (pictured, right), BrewDog's co-founder.
Image credit: BrewDog