Millennials and Corporate Social Responsibility: the perfect match?

On 25 June we were guests at Friesland Campina to give a workshop for ICA (Inter Company Association), an association for young professionals from the fifty top employers in the Netherlands. The theme of the evening was the responsibility of companies for their impact on society, in other words: Corporate Social Responsibility (CSR). More than forty employees (millennials) from companies such as FrieslandCampina, a.s.r, ASML, VolkerWessels, Aegon, Randstad, Tennet, Aon, Arcadis, Eiffel, Royal HaskoningDHV and EY participated in our workshop "CSR Essentials".

CSR, the new normal for companies

Nowadays at almost every large company you can find a CSR-report on the website. Initiatives such as B-corps, The Shared Value Initiative and The Circle Economy are growing every day and help companies to deal positive with the impact they have on society and the environment. In short, CSR is indispensable for most companies.

The importance of CSR was also confirmed by the young professionals who all agreed that companies have a responsibility for their impact on the world. But on the question whether their company itself is active in the field of CSR, other answers were given. For example, 20% of the people in the room felt that their company was totally inactive in the area of CSR. As many as 52.5% of the people indicated that their company is active but not active enough. And only 27.5% people can proudly say: my company is super active!

How do millennials choose their employer?

Research from the Reputation Institute Benelux shows that 'Innovation' and 'CSR' account for more than 55% of the 'drivers' of a company's reputation. But do the young professionals of today also choose for an employer with a high CSR standard?

An European study by YoungCapital in collaboration with the University of Utrecht shows that millennials increasingly choose a fun job with a modal salary over boring work with a top salary. What stands out in the research is that CSR's policy falls outside the top three of what young people consider as the most important when choosing an employer. learning new things, the salary and clear expectations of the employer all go above the performance on CSR. Still 58% of Dutch respondents say CSR is an important subject for choosing a job

How green is the 'green generation'?

The millennials are sometimes called the 'green generation'. But is this title true? Research from Milieu Centraal shows that in practice this is very disappointing. A reason for this is the insufficient knowledge and motivation to make the right sustainable choices.

During the workshop we ask the question whether the young professionals have sufficient knowledge about CSR. More than half said they miss knowledge! Often the millennials are interested in CSR but they have a lack of sufficient knowledge to ensure that CSR comes on the agenda of their business. We believe that more knowledge can lead to a perfect match between CSR and millennials!

CSR something  for  you?

CSR  Essentials workshop is  for  (young) professionals  who  are passionate  about  making a  positive  impact (just  like  us!), and  want  to learn  more  about how  to  get started  with  CSR in  your  organization. This  is  the perfect  workshop  if you:

  • Want to  get  smart on  the  basics of  CSR
  • Area  board  member, manager  or  employee of  a  company that  is  not yet  very  active on  CSR  and you  want  to drive  the  change
  • Areworking  at  a company  that’s  already doing  a  lot with  CSR  and you  want  to get  in  on the  action!

Are you interested in a CSR training? Send an  e-mail to  hello@theterrace.nl and we’ll  get  in touch  with  you ASAP.


Top tips for greenwashing: communicating sustainability in horticulture

In October 2017, The Terrace was invited by the MPS-group to lead a workshop for and with leading growers of flowers and flowering plants from the Netherlands. This was part of event in preparation for an international horticulture trade fair. The focus of the workshop was on how to best communicate on sustainability in the horticulture sector. Here's what I had to say about conviction, focus, collaboration and... greenwashing.

Tip #1: Start from your personal conviction

The trouble with sustainability is the lack of a common definition. It may include topics like environmental protection, labor conditions, community engagement, economic impacts and/or governance. There are so many terms floating around, like CSR, responsible business conduct, future-proof, thriveability... Whatever term you prefer, it needs to be relevant to your core business and your key stakeholders. Most likely, this will be a function of the industry, the cultural/national context and the conviction and focus of senior leadership. So before communicating your sustainability efforts externally, first consider what sustainability means to you. For which parts of sustainability do you care most deeply? Why did you get started with organic flowers? What made you integrate sustainability into your business model?

Tip #2: Focus on what matters

Sustainability is multi-faceted, so your sustainability strategy probably is as well. But while all those facets may be relevant and understood by people within the industry, they won't all be equally relevant for different stakeholders. So when communicating your sustainability strategy, think first and foremost from the perspective of your audience. For different target audiences, focus your sustainability story in different ways. While keeping the overall story the same, differentiate the key topics to highlight for different audiences. Not everyone knows as much about sustainability issues in horticulture - or whatever sector you're in - as you do.

Unilever uses a very powerful analogy to further strengthen its sustainability communications: the sword and the shield. The sword is a strong message that you pro-actively want to share with your target audience. And which is very relevant for that target audience. The shield contains other topics which you are working on in your sustainability strategy, but which are less relevant to your audience, or less easy to talk about as an individual brand or company.

For example, for Lipton's sustainability strategy includes both social and environmental elements. In consumer communication, the social elements are emphasized like a sword. Most consumers realize that picking tea leaves is hard work in tough locations, so this context helps Lipton tell its story about the programs it has in place to make life easier for tea pluckers. The improvements Lipton is making to reduce pesticides is more like a shield. Something to work on very actively, but as most consumers are unaware that nearly all tea in the world contains pesticides, communicating about this as an individual brand is more challenging. So while this may be a great topic for a sustainability website or report, we'd not recommend putting that same story on the pack.

Tip #3: Some stories are better told together

Some topics are difficult to raise, even if you feel it is high time the world knew about the issues and your solutions. This is where sector-wide collaboration and communications may be needed. Just like for tea, for the horticulture sector, pesticides might be such a topic. As an individual grower of flowers, this is a topic you might be able to raise with expert buyers in retail. But with consumers, this is not so easy. If you try to mention this on your packaging, consumers might just link your name to pesticides in general, rather than the reduction you've achieved. To raise awareness of the issues around pesticides, it would be better to collaborate. With industry bodies and certification providers, but potentially also with NGOs and consumer organizations.

Tip #4: Always be honest

Good communications about your sustainability efforts and performance can build trust in your organization and its products. But even if you're selling plants and flowers, and you'd like to make the world a greener place, what you're communicating has to be true. Only balanced communications - sharing both successes and challenges - builds trust. If what you're sharing is not true, then it's merely greenwashing. That word might have a nicer connotation for the horticulture sector than for others, but it will simply erode trust.


Ready to scale-up? Do you have Category Leadership potential?

Having a social start-up means you want to change the world. Your product or service has the potential to create positive change for many. But to have real impact you need to scale-up.

How do you know if your brand is ready for the next step? That is an interesting question. Luckily The Terrace has developed a tool to assess the health of your social brand and it makes clear what you need to do to reach your goal.

A fundamental aspect you need to look at is the so called ‘’Power in the mind’’ of your brand. We have identified two critical checks to see if you are able to get a positive and prominent position in your market.

How single minded is your story?

To get your proposition across you need an extremely clear and simple story. Too many startups lose traction when their fundamental story becomes blurry. A simple but highly effective test is to check if your message can come from one type of personality.

Likewise, a defined corporate culture and a simple and clearly communicated strategy is necessary. You will be amazed by the high rotation of employees at social enterprises. Many times, this is due to unsatisfied employees, having different expectations of the brand and the company. They are disappointed that it was not clear enough how they could help the brand to have more impact.

Important questions you can ask yourself are: How focused is the brand story and sales pitch? How clear are the company values?

Do you have Category Leadership potential?

  • Most social enterprises are too polite. To have impact, you need to shoot for the stars. You must claim some sort of category leadership and act on it.
  • We loved it when Urgenda was the first social enterprise ever to sue the state. It was bold, it was right, and it was a 100% on brand. The same for the bid of VANDEBRON on the Hemkade.
  • Having a clear definition of your category is mandatory. A short cut to get attention is to point out the deadlock in the development of your category and show what you are doing about it.
  • Two important questions you can ask yourself: How many real category leadership actions have been executed? How fit is the company leadership to climb on the stage?

Keep an eye on our website and soon you’ll learn more about how to assess if you’re ready to scale-up! 


Top tips for reading sustainability reports

To mark International Literacy Day, this post is about reading sustainability reports. In 2016, the theme for International Literacy Day actually was “Reading the Past, Writing the Future”. Which is quite similar to our recent blog about transforming sustainability reporting to a tool for positive change. But that's a different story, as this blog is not about writing reports, but rather about reading them.

An ever increasing number of companies publish a sustainability report. Or integrate sustainability into their annual reporting process.  The question is, who reads these reports? And are the readers finding any use for the sustainability data and stories presented in the reports?

Who's reading?

In 2015, the Global Reporting Initiative, creators of the most widely-used sustainability reporting standards, co-authored a report with Oxfam, Informing decisions, driving change, about how different stakeholders read and use sustainability data captured in sustainability reports. It offers a comprehensive view of the key users of sustainability data, such as civil society organizations, investors, business, governments, market regulators, and media.

Some would argue that consumers also belong on that list, as well as prospective employees. Very different stakeholders with very different objectives. Yet all trying to get insights from reading the same sustainability report! Besides a few reporting geeks, many people may wonder how to best read or assess a sustainability report. So here are some tips to guide your reading!

Commitment or compliance?

The fact that a company has a sustainability report, doesn't always guarantee a real commitment to making their company more sustainable. A company may simply report only to comply with regulations. So a key thing to look for when reading a sustainability report is commitment. Is top management involved and engaged? What are they committed to exactly? How are decisions made regarding sustainability topics? The introduction to the report by the CEO or chairman is the best place to look for "commitment" signals. A great way to test the depth of this commitment is to cross-check the introduction of the financial report. If there is no mention of relevant sustainability topics there, then that commitment may not run so deep.

Connected context

The selection of topics for the sustainability strategy and report generally shows how connected a company is to its environment. So the next thing to look for in a sustainability report is a clear understanding of the company's context. Is the sustainability strategy linked to the vision and mission of the company, or is it focused on totally different topics? Are environmental and social risks and opportunities explored in relation to the business model? If you are less familiar with a specific industry, this may be hard to assess. In that case, reading parts of the sustainability reports of companies in the same industry will generate insights on the key topics.

Large companies are expected to act according to the OECD Guidelines and adhere to the UN Guiding Principles on Business and Human Rights. And all companies can use the Sustainable Development Goals as a framework to assess how their business contributes to a better world. So when reading a sustainability report, check whether and how the company references these frameworks.

When done well, companies select their so-called material topics after engaging relevant stakeholders, such as employees, clients, investors, NGOs, and communities. Through a materiality matrix, many companies plot the interests of their stakeholders against the interests or impacts of the company. That matrix and the accompanying text are my favorite parts of any sustainability report.

Completing the cycle

Sustainability is all about the future, yet reports tend to look back in time. So when reading a sustainability report, check whether the report on past performance is in function of the future. Are the long-term objectives clear, as well as the strategies and policies to reach them? Are they closely linked to the material topics identified? Does the report share relevant results for the past year as well as previous years as a benchmark? How do these results stack up against the goals for this reporting year?

Are the results balanced? Not just sharing what went well, but also the learnings from things that did not go as well? And does the report provide insight into the specific goals and action plans for the year ahead? These kinds of questions help you assess whether there is a structured, full circle approach to sustainability for the company. In which reporting is a key instrument to fuel improvement, rather than a goal in itself.

Consistency

The GRI Sustainability Reporting Standards (and Guidelines) help companies to prepare their sustainability report, but they also help the readers. Especially the GRI Content Index, which lists the standard set of disclosures for all companies and includes the material topics selected by the company. With it, the reader can easily find the pages for each topic.

And just like it's useful to scan the sustainability report of a company's peers and the financial report, it can be tremendously useful to have a look at previous reports by the same company. Is the company consistently reporting on the same material topics? If not, are there good reasons to change the scope of the strategy and report due to changes in context? Or is the company cherry picking its stories and KPIs from one year to the other, to always have good news to show?

And last, but not least, is the sustainability report itself consistent with the materiality analysis? Are the topics in the report - and the space they are given - in line with the materiality analysis? If not, it may be time to look for the page that highlights how to get in touch with the company about their report!


In search of purpose for Fairphone: the power of purpose for brands

To really connect with consumers, brands can no longer present a facade and sell. To thrive, brands need to create an emotional connection with people, stemming from a clear brand purpose. A purpose that addresses a real societal issue and that strives to create a movement to resolve this issue. In May 2017, we organized an event about purpose marketing at Fairphone, a social enterprise that makes the world’s first ethical, modular smartphone. The event was organized by the Nyenrode Business University Alumni Circle for Sustainability, in collaboration with the Alumni Circle for Marketing & Digital. Here are some of the key outtakes from the event on purpose marketing.

Creating a fair phone isn't easy

Lina Ruiz, Fairphone's strategic partnerships and events manager, kicked off with an introduction to Fairphone's mission: making a positive impact in how phones are made, used and recycled. Interestingly, she used a video by Milton Friedman  to explain the complexity of supply chains. She then shared Fairphone goal of creating positive social and environmental impact from the beginning to the end of a phone’s life cycle. They do this in four ways.

Fairphone's long-lasting design creates products that last and that are easier to repair. The design helps people understand how to get more years out of the device and move away from the mindset that consumer electronics are semi-disposable objects.

Fairphone traces where the parts come from and therefore creates demand for fair materials that are good for people and planet. One material at a time, Fairphone strives to increase awareness and source better ingredients for their devices.

Fairphone wants to improve working conditions in the electronics sector. With experts, NGOs and other partners, they develop innovative programs to improve worker satisfaction and representation. 

 

To progress towards a circular economy, Fairphone encourages the reuse and recycling of electronics. Withspare parts and recycling programs, they support both consumers and producers. 

The power of purpose for brands

Consumers are increasingly oversaturated with advertising messages. Brands constantly try to sell themselves with beautiful messages, but not all of them are authentic. No wonder the Edelman Trust Barometer shows an implosion of trust in business. At the same time, people look to business to be drivers of change for a better society. From brands, people demand something they can relate to, authenticity and higher ethical standards. The brands that succeed are therefore those that offer shared value for both society and business. That have a purpose that truly connects their business to societal issues in a relevant way. Some companies, like chocolate maker Tony's Chocolonely and transportation company AirHunters, had a clear societal purpose from the start. Tony's wants to abolish slavery in the cocoa industry. Airhunters wants to decrease the carbon footprint and congestion caused by suboptimal transportation. Their brands, therefore, radiate their respective purpose very clearly. Other older and larger companies, like Unilever and Heineken, seem to have veered further from their original purpose but are redefining purpose for their brands with great success. Year on year, Unilever's purpose brands like Dove, Lifebuoy and Ben & Jerry's, outgrow the other brands by 30%.  And Heineken's responsible consumption campaign with DJ Armin van Buren created a global movement of DJs urging people to dance more and drink slowly.

Guiding brands toward purpose

Using the purposeful positioning model developed by The Terrace, the participants then got to work on Fairphone's positioning. The model helps companies and brands find their purpose through an outside-in approach.

1) What are external societal issues that a brand can or should address, such as environmental problems, social issues, latent consumer needs, stakeholder issues and true customer needs?

2) Through the lens of those key issues, how can a brand create shared value? Where are the opportunities for impact or societal value? And how can it create business value in parallel?

3) Who are the people to engage and keep in mind? Through the shared value angle, who are the people that will use the brand? With whom would the brand compete? And which parties are potential collaborators striving for the same societal value?

4) What does the brand really stand for? What are the brand's key benefits, personality, promise and the reasons to believe? This is often more comfortable territory for the marketer.

5) Why is the brand really here? What is the brand's true purpose? The heart of the model brings together the input and perspectives from the previous steps. Once that purpose is distilled and chosen, then go back from the inside out to refine all elements in the model.

Collaboration for positive change

Combining the forces of Nyenrode's sustainability and marketing alumni and their guests, the group came up with various alternate business models. Each stemming from a different angle on the purpose that Fairphone could adopt. Therefore each leading to quite different engagement strategies and tactics. The conclusion of the evening was that there are many opportunities for Fairphone to further focus its purpose and marketing tactics. Even with limited time, the group came up with very actionable ideas, which were gratefully received by the Fairphone team. The other conclusion was that crafting purpose takes more time than the 30 minutes we had available in the context of this workshop - and that is was incredibly inspiring for all involved! Over drinks, the participants continued to talk for hours, sharing how they could put more purpose into their own brands and lives.

A big thank you to Fairphone for hosting this event, to the many people who participated so actively and to the many people involved from the Nyenrode Alumni Circles for Sustainability and Marketing & Digital. Interested in finding out more about purpose marketing, please contact Marjolein.

This blog was originally written by Marjolein Baghuis (@MBaghuis) and Tim Mazajchik (@tmaz85) for the Nyenrode University Alumni website. It has also been posted on the websites of Heartbeat Strategy and Change in Context.


The Terrace boosts reporting practice with Marjolein Baghuis

Marjolein is an expert and thought leader on corporate accountability, sustainability reporting and communications. At The Terrace, she will lead the reporting practice and support companies progress reporting from a burden to an inspiring communications opportunity. She will also be involved in sustainable strategy and communications projects.

The Terrace founder Leontine Gast: “We are pleased to add Marjolein's specific knowledge and expertise to our team. Her enthusiasm for positive change fits perfectly with the values of The Terrace. Together, we have all the skills to support companies in their ambitions to deliver positive change”

Through her work for the Global Reporting Initiative, Innate Motion and Change in Context, she has supported companies and people to create clear strategies and reports for positive change. Marjolein is the founder of Change in Context, an online platform for change towards a sustainable economy, which hosts her well-read blog. She also teaches sustainability at Nyenrode Business University. Previously, Marjolein worked for Procter & Gamble, Synovate and Greenpeace.

She is an active board member for the Nyenrode Alumni Circle for Sustainability and the regional Amstelland library. In addition, she serves on the advisory board of eRevalue, a British service provider in the area of ESG/sustainability big data, and speaks regularly at conferences on sustainability, accountability, and reporting.


What to do with unexpected clients? - And how not to lose them

“You are not really going to ride that ugly car, are you?” Since I admitted to buying a Mitsubishi Outlander I get overwhelmed by disappointed reactions from friends and family. Because they are car lovers. Petrol heads.

I get their point, but…

The diesel guzzlers they love to drive are not very sustainable and a more environmental friendly car had been on top my wish list for quite some time. The Mitsubishi Outlander seemed the ‘least dreadful’ version of all hybrid cars on the market. A little less ugly and dull than the others, so to say. Take into account the tax benefit on top of that and the choice was easy.

Reluctantly though.

Brands are part of our identity

We all have our preferences for specific brands. Whether it is conscious or unconscious. We search for a brand with features that are in line with our own desired personality. By choosing a specific brand, we are associated with a target group to which we would like to belong. While one person does not want to be associated with a Japanese car at all, the next will not stop talking about the amazing technical features of the same car.

But what if ‘your’ brand does not deliver the kind of product or product features that are very important to you? What if none of the brands you prefer offer a sustainable choice?

That will force you to step out of your comfort zone and look at another brand. This brand then has the challenge to connect with these new, unexpected clients. And to keep them, without losing their existing clients.

11.000 sold cars without test-drive (but “Mit-subsidie”)

Mitsubishi is a strong player in the hybrid car market. A few years ago, the Japanese brand said to have the ambition to focus on the production of sustainable SUVs for an affordable price. In 2020, 20% of their cars will be electric or plug-in hybrid. Electric driving will become one of the pillars of their worldwide sales strategy.

And it is already paying off, so it seems. Last year the brand took the semi-electric Outlander PHEV to the European market. Aided by the significant the tax benefit (the Dutch nickname the brand ‘Mit-subsidie’ – with subsidy) there was a big run on this car. No less than 11.000 cars were sold without the future owners even taking a test-drive.

Awkwardness in the showroom

Mitsubishi is known for its user-friendly cars for an affordable price. The dealers have adjusted their sales pitch entirely to this message. But how do you approach this new group of sustainable buyers? They clearly have no idea, so it seems when I walk into the showroom with my wallet already pulled out.

Dealers seem to be ashamed for the relative high price of the sustainable Outlander. They think it is a waste of money to pay for the extra features and have almost nothing to say about the sustainable qualities of the car. With every unanswered question, I get more uncomfortable.

The green ambitions of the management have obviously not yet reached all layers of the company.

But as long as there are no serious alternatives, Mitsubishi will profit from this situation. However, there is no reason to sit back and relax. Other European brands will follow suit with their own affordable hybrid. And if Mitsubishi’s unexpected clients still do not feel at home with their new brand, they will go straight back to their own familiar brands.

Know your customer

Bringing a new sustainable product to the market has a lot of consequences. One of them is that you may gain a new target group. The group of consumers that makes choices based on the sustainability of a brand is growing. This group is focused on innovation in the market and they like to be well informed.

As a brand you need to be prepared for this. Being the first with an innovation only gets you one step ahead on short term. If you want to keep those customers in the long run, you need to make an effort. You have to understand your customers. What motivates them? What are their wishes?

This means that your sales people should learn how to handle different target groups. Which clients is motivated by price and which clients do you seduce with the technical aspects of the product?

Learn their language. If new clients feel understood, they might (unexpectedly) become a regular client


Baby you can drive my car: business opportunities in the sharing economy

A new economy is on the rise. A growing number of companies are gaining interest in an economy where collaboration is essential. This emerging economy has many names, from Collaborative Consumption to lease-society, from peer economy to maker movement. But it all comes down to the same thing: we share. This exchange is not only limited to tangible objects, but can also include the exchange of skills or services, for example a shared car drive.

Sharing is not a new phenomenon. But due to the Internet and other innovations the scale on which the sharing economy is operating is much bigger today. Where does this renewed interest in sharing come from and what are the opportunities for companies?

From hyper consumption to sharing economy

We live in a predominantly capitalistic society. Our way of consuming is based on a fascinating system. In order to sustain itself, it needs to grow. In order to grow, it needs to be fed with more consumption. Psychologically it works like this: people want to own more as they acquire more, which is of great convenience for business, they’ll produce and sell in an equal pace. Within the past century, we saw the unprecedented rise of individual property, credit, and commercials. Together they resulted in a system of hyper consumption.

Entering the 21st century - certainly after the start of the economic crisis of 2008 - we see a shift from a consuming, individual society to a culture where a growing number of people are starting to collaborate. During the crisis, people began to lose their trust in large organizations who seem to appear only as greedy, hungry monsters only looking for one thing: profits. The new emerging economy offers a new perspective to these people. Shared access overrules individual ownership, reputation is the new credit and commercials are replaced by the quality of the community. These three pillars are the basis of the Sharing Economy.

Shared access

In the sharing economy, it’s about ‘access’ over ownership. We have to make a mind shift, instead of owning a product; we’re using the services a product provides. In other words, we don’t need the light bulb, we need the lumen. Like mushrooms in autumn, companies with a sharing philosophy pop up everywhere. On the popular platform of Airbnb, people rent out their spare room, air mattress or backyard tree house to visitors. On peerby, neighbours lend out their toolkits. Do you need advice on your business plan, or do you want to learn Spanish? Konnektid will connect you to a person who can help. And for easy transport, you can always borrow a car via Snappcar. These platforms offer consumer-to-consumer sharing services. A typical B2B platform is Floow2, where heavy construction vehicles and business equipment are being shared. B2C platforms, such as Netflix, see their list of customers grow. Important in the sharing economy is your community or network. The bigger it is and the more whufffie you have, the more access to goods, skills and services are being offered. Which leads us to explore the whuffie-factor.

 Share stuff, gain whuff!

You probably wouldn't lend your car as easy to a stranger as you would with your garden tools. In essence, the exchange comes down to a relation of trust. Trust is mainly build on the reputation of both the lender and the borrower. In the sharing economy, reputation is your capital: it’s social capital. And its’ currency is called Whuffie. Whuffie originates from the book Down and Out in the Magic Kingdom by Cory Doctorow. In this novel, money no longer exists and people pay with whuffie. Whuffie is obtained through sharing goods, skills or other services. The good thing is: the more you share, the more whuffie you receive. For companies, social image or whuffie is just as important. Examples of companies who have already joined the sharing economy are Bosch, with a leasing model for washing machines and refrigerators, and Achmea, who have started their own sharing initiative: WeHelpen.

Community

Whuffie is a strange currency because it’s not directly visible. It is measured only in your relation to other people. You need to build a community of trust with the people or companies around you. Only trying to sell your product will not work. You will have to reach out to your customers and make a real, long-term connection, for example through a leasing system or after-sales services, so they will come back. But also think of the numerous opportunities there are online. The web is getting bigger and bigger and there are an increasing number of websites and apps that offer sharing opportunities all around the world. The sharing economy is a local community on global scale.

Together, we have created a glocal community where people can share items, save money and have more contact with each other, online but even better in real life. For companies, the sharing economy has created new markets via access versus ownership; it sparked the consumer mind-set of we and together instead me, me and me; it has extended customer relationships from ‘point in time’ to ‘point across time’ and created word of mouth through a user community.

The sharing economy is growing. Not only new individuals, but also institutions as the municipality of Amsterdam (Amsterdam Economic Board) and Brussels have shown interest and discuss the possibilities of how to best facilitate the sharing movement. This shows that the sharing economy is not just a flash in the pan but is here to stay.

Author: Fien, intern at The Terrace. In the coming months, she will submerge herself into the world of the sharing economy.