In the last decade, ethics and values have become increasingly critical in contributing to a business’s success or failure.
According to a McKinsey & Company study, younger generations view consumption as access rather than possession, identity expression, and overall a matter of ethical concern. Additionally, any issues regarding ethicality are more easily brought to light with the rise of global connectivity. Fake “woke” is also a concept that does not fly well among younger customers, as they also value authenticity.
This is why companies have become increasingly careful to maintain a good image, starting from the very root of your branding and identity — your business name.
Leveraging Technology for the Environment
Evident in its name, CleanTech Global Renewables Inc. is a renewable energy company that was initiated in the Philippines. The renewable energy industry was not very well funded in the country, but founder Aboy Castro was determined to continue pushing to make tech such as solar panels become more affordable. His efforts were eventually rewarded as the business saw significant success in 2020. CleanTech has even established its very own charity and community project arm, CleanTech Foundation.
Transforming Logistics
Logifruit’s name is witty, fun, and memorable. Originally a logistic operator catering to Mercadona’s fruit and vegetable suppliers, it has grown to become a company that focuses on sanitisation, management, and rents out reusable packaging. Using a Business Name Generator is one way to think up ways to present your company’s values in a unique way that still makes sense, similar to Logifruit’s. Plus, it also allows you to double-check if the name is available and helps consumers to avoid confusing your business with other similar entities.
Creating Sustainable Aviation Fuel
Aemetis’ name was derived from “AE” which means “The One” in Scotting, and “Metis” which is Greek for “Prudent Wisdom”. True enough, the business honed a biorefinery technology platform that enables them to produce specialty biochemical and renewable fuels for large markets. Recently, Qantas Airlines announced a deal with Aemetis to use Sustainable Aviation Fuel (SAF) for flights starting in 2025. The company chose a narrative route for its name, fully embodying this “wisdom” in its smart practices.
Promoting Freedom of Mobility
Transportation alone is responsible for 27% of greenhouse gas emissions. Taxi app Free Now is trying to do its part in reducing this by teaming up with micro-mobility company Tier. Silicon Republic reports that Free Now has announced 100 Tier e-bikes to be available in Dublin and future plans to raise this number to 400. Manager Niall Carson explains that they want to offer this sustainable option to passengers, in addition to their eco-booking taxi option. Their name truly embodies their goal of bringing the freedom of mobility to passengers.
The Future of Ethical Businesses and Their Names
Ethicality and branding have become integral to the success of most of today’s businesses. Consumers want to support brands that serve a greater purpose rather than simply chasing profit. They also want to support brands that are authentic — and what better way to demonstrate authenticity than through one’s name? This is a phenomenon that will continue to gain popularity; one that business owners and entrepreneurs should look out for.
