BrewDog to give away 20% of its profits

Independent craft brewer BrewDog announced on Tuesday that it will give away 20% of its profits every year as part of its new 'Unicorn Fund'.

The company plans to share 10% equally among its staff and to give away a further 10% to charities chosen by its workforce and equity crowdfund investors.

Co-founder James Watt said: "At BrewDog, we care about two things above all else; our beer and our people. We want to make the best beers on the planet, we want to be the best company to work for, and we want to build a radically new type of business that we can all be proud of. Giving away 20% of our profits - forever - is not about altruism. It is about impact. It’s not about profits. It is about purpose. This is the biggest community-fuelled, crowdfunded charity contribution in history.

“Outdated CSR policies have zero consideration for their real-world impact, existing merely for the purpose of an oversized cheque and an awkward photo shoot. This is a call to arms for businesses to democratise the impact their charitable contributions can have on their community, their people, and the world.”

If it hits its projected targets, the brewer - which made a £7.1m profit last year - will give away more than £45m via the Unicorn Fund in the next five years alone. It will reinvest the balance of its profit into the business for at least the next seven years.