A group of 14 companies in the natural-products industry is coming together this week to join the Purpose Pledge, a nine-month pilot program that aims to elevate the standards for businesses adopting and redefining stakeholder capitalism.

The companies are agreeing to abide by 10 commitments that define what it means to be purpose-driven and establish a clear framework for measuring progress and set clear, achievable, measurable and meaningful criteria for purpose-led practices.

“The Purpose Pledge is a call for meaningful action, not just intention. We’re inviting the world’s most purpose-driven companies to challenge themselves and each other to take even bigger steps forward, serving as a global business beacon for change,” said Lara Dickinson, executive director and co-founder of One Step Closer, one of three groups spearheading the initiative.

One Step Closer is a nonprofit network of purpose-driven leaders in the natural products industry. It is joined in the Purpose Pledge project by Dr. Bronner’s, makers of a top-selling natural soap brand, and LIFT Economy, a worker-owned cooperative and impact consulting firm whose mission is to create, model and share a racially just, regenerative, and locally self-reliant economy.

Representatives of the three got together in the fall of 2023 to tackle several global crises led by what they saw as a worsening of environmental and social challenges. Their main target: the dominant model of shareholder primacy capitalism, which prioritizes maximizing investor returns over the well-being of all other stakeholders.

“Business-as-usual profit primacy has led us into existential times. Change is necessary for humanity to navigate into a livable future. The commitment of a community of companies to the Purpose Pledge marks a critical leap forward, inspiring businesses to meaningfully contribute to the long arc of transformation of the economy,” said Kevin Bayuk, worker-owner with Lift Economy.

The Purpose Pledge seeks to redefine how business is conducted by fostering a community dedicated to sustainable progress. “With visionary leadership and a well-structured, actionable plan—one that prioritizes transparency, accountability, and real results over rhetoric—it sets a new standard for responsible business,” according to the Purpose Pledge website.

The participating pilot companies joining Dr. Bronner’s are Gaia Herbs, Guayakí Yerba Mate, Kuli Kuli, Lundberg Family Farms, Mountain Rose Herbs, MUD\WTR, Nature’s Path Organic Foods, Numi Tea, Organically Grown Company, Pachamama Coffee Farmers, Philosopher Foods, SIMPLi and Wildway.

The 10 commitments:

1. Product quality: Pledging companies commit to purposefully creating products that benefit the life and wellbeing of their customers/all stakeholders that use or consume them.
2. Independent governance: Prioritizes aligning company decisions with its values and purpose alongside healthy financial performance.
3. Supply web integrity: Primary products must meet rigorous, holistic eco-social standards encompassing regenerative soil health, fair labor and (where applicable) animal welfare.
4. Fair and balanced compensation: A maximum 20:1 ratio between the highest- and lowest-paid employees must be established and maintained by the pledging company for employees in the country where the company’s headquarters resides.
5. Living wage: The Purpose Pledge utilizes the MIT Wage Calculator as a benchmark, guaranteeing employees can afford a decent standard of living in their communities.
6. Inclusion: An inclusive culture will be measured by implementing an annual employee engagement survey to evaluate employees’ sense of inclusion within the workplace and company’s action plan in response to the survey results.
7. Community engagement: A minimum of 1% of pledging company net revenue or 10% of net profits must be allocated to philanthropic initiatives.
8. Climate positivity: Pledging companies must actively strive to be climate positive, exceeding neutrality and becoming agents of positive change to ecosystem health and the atmosphere.
9. Circularity for zero waste: The Purpose Pledge champions a circular economy, urging companies to achieve TRUE (Total Resource Use and Efficiency) certification.
10. Capability building: Pledging companies commit to openness, transparency and knowledge sharing — readily offering expertise, resources and guidance to their peers.

Read more: DEI, but shy: half of U.S. companies won’t cut programs, but won’t talk about them either