Our Economy for the Common Good
What this is and how we score
At i+m, we follow the principles of the Economy for the Common Good (ECG), aligning with a movement that values cooperation and the well-being of all over profit maximisation. Our commitment to this has been verified by external auditors. Curious to see how we performed in different areas? Find out more here (Audit report in German, PDF).
What is the Economy for the Common Good?
The Economy for the Common Good (ECG) is an ethical economic model currently embraced by over 1,000 companies in Germany. It challenges traditional corporate goals by shifting the focus from profit maximisation and competition to promoting the common good and fostering cooperation. A key tool of this model is the common good balance sheet, which quantifies sustainability. The core values include social justice, human dignity, solidarity, ecological sustainability, transparency, and shared decision-making.
For many companies, genuinely sustainable practices remain unappealing because they often come with higher costs upfront. While these additional expenses benefit the common good, they can lead to a significant long-term competitive disadvantage. The forward-thinking concept of the common good balance sheet aims to quantify the extra contribution companies make towards the common good, with the idea that this could eventually be balanced out by tax relief—allowing for fairer competition.
Although tax authorities still need to be convinced of the value of considering the common good balance sheet, we see ourselves, along with other companies using this model, as pioneers in testing and shaping its future. We hope to provide a framework for future legal regulations. However, even without tax incentives, the common good balance sheet increases transparency, makes companies more comparable for consumers, and encourages us to continually reflect on and improve our commitment to the common good.
Our Common Good Balance Sheet
With 607 points on a scale from -3600 to 1000, we’re incredibly proud of our achievement! Especially as a company is considered exemplary in terms of the common good from just 300 points. As one of the first cosmetics companies to have our balance sheet prepared according to ECG standards, we’re setting the bar high. We were assessed based on criteria such as human dignity, solidarity and justice, ecological sustainability, transparency, and co-determination.
In addition to promoting transparency for consumers, the externally verified public interest balance sheet serves another important purpose. Since focusing on the common good and sustainability often results in higher costs, it can put companies like ours at a competitive disadvantage compared to those that don’t prioritise these values. The long-term idea is to offset this imbalance through tax benefits for companies that can provide a common good balance sheet. While this may still be a distant goal, we are confident that we’re on the right path.
Interested in how we’ve scored in each area? You can find all the details in our Common Good Report.
How Do We Put the Economy for the Common Good Into Practice?
Since our founding in 1978, i+m has only ever used natural raw materials, and since 2000, we’ve been fully committed to a vegan approach. All our products are certified according to one of the most respected and stringent standards for natural cosmetics, COSMOS, and are also accredited by The Vegan Society and Leaping Bunny. As a natural cosmetics company, this is central to who we are.
But for us, promoting the common good goes beyond that. Want to see how we put this into action? Here are some of our favourite ways i+m works in the interest of the common good:
FAIR Editions
By purchasing an i+m FAIR Edition – specially designed versions of our products – you can directly support a project in the eco-fair or social sector. We donate either the full sales proceeds or a contribution of €1-2 from each sale to organisations such as PETA, Tierheim Berlin, our school project in Zambia, or the youth network Lambda BB.
Zambia School Project
Our solidarity extends to all people, everywhere, in every possible way. We offer support where it’s needed most. In 2014, i+m envisioned building the first women’s shelter in Zambia – and we made it happen! Since then, the shelter has grown to include a school with 400 children and an orphanage, continuing its success story as TWIKATANE e.V.
Economy for the Common Good
For us, prioritizing the common good and sustainability has always taken precedence over profit. We are now advancing this commitment alongside over 1,000 other companies through the Economy for the Common Good (ECG) model. We’ve created an independently audited common good balance sheet that considers not just economic factors, but also ecology, social justice, transparency, and democratic participation.
25% Donation
Get rich or try sharing! For us at i+m, profit isn’t the goal; it’s about being a living, breathing entity that thrives by giving back. That’s why we share the company’s profits with our team, deliberately steer clear of tax loopholes, and donate 25% of our earnings to eco-social projects that make the world a better place. Let’s change the world with beauty!
Fair Trade Practices
Our heart beats for fairness, which is why we source our raw materials from fair-trade initiatives worldwide whenever possible. Whether it’s Fair Trade certified argan oil from Morocco, avocado oil from Kenya, almond oil from Pakistan, or cocoa butter from Peru, our long-standing partnerships guarantee fair trade, fair wages, and humane working conditions that are regularly inspected.
Where Can We Still Improve?
At i+m, we constantly reflect on how we’ve performed in terms of promoting the common good and focus on where we can still do better. As pioneers in sustainable cosmetic innovation, we’re already taking concrete steps to move forward.
We’re expanding our WE REDUCE! series and, in autumn 2024, will be partnering with Zerooo, a Hamburg-based start-up that has developed a revolutionary deposit system for cosmetics packaging. This aligns perfectly with our commitment to tackling packaging waste sustainably.
We’re also excited to be launching new FAIR Editions, supporting amazing charitable projects that you can help make a difference with. Meanwhile, our purchasing team is always on the lookout for more fair-trade raw materials to add to our range.
Lastly, we’re thrilled to share that we’re supporting another impact project in Kenya: MWINGI. More details will be coming soon – stay tuned!