27 Social and Environmental Impact Corporate venturing practices are increasingly used to tackle pressing environmental and social challenges, extending their role beyond traditional business objectives. These initiatives often align with corporate sustainability and social responsi- bility goals, applying venturing strategies to meet non-commercial commitments. The approach varies depending on the focus area, whether advancing environmental sustainability or promot- ing diversity, equity, and inclusion (DEI). Regulatory requirements, shareholder expectations, or emerging market opportunities may drive these efforts. For example, Anglo-American’s venture-building program is a prime example of developing innova- tions that reduce emissions and waste in mining operations, thereby supporting more sustainable practices. Amazon’s AWS Clean Energy Accelerator fosters innovation in clean technology by support- ing startups developing distributed energy solutions, efficiency software, and other green technologies. The program provides mentorship and access to Amazon’s advanced infrastructure, enabling scalable advancements in sustainability. In the realm of DEI, corporate venturing has become a tool for fostering inclusivity and supporting underrepresented groups. For example, American Express launched the Spark program in partnership with Project W to empower women entrepreneurs. The initiative offered pitch sessions and boot camps designed to provide skills-based learning and insights into collaboration opportunities with American Express Ventures. Similarly, JPMorgan Chase offered a range of services to foster entrepreneurship within underrepresented communities in the US. Their partnership with Russell Center in Atlanta is an “all-in-one” incubator, accelerator, innovation lab, and museum featuring the stories of Black entrepreneurs. Likewise, Amazon established Catalytic Capital, a $150 million investment fund that supports entrepreneurs from underrepresented backgrounds, including women, Black, Latino, indigenous, and LGBTQIA+ founders. Corporate venturing also extends its impact to broader social initiatives, such as community development. For instance, Pernod Ricard has partnered with a furniture technology center and a regional economic development agency in South Africa to launch an incubation hub for woodworking and furniture manufacturing entrepreneurs. This center provides workspace, access to advanced machinery, and support for handling large-scale production, demonstrating a commitment to creating lasting social impact through corporate resources. Remarkably, the furniture industry has nothing to do with Pernod Ricard’s business but is vital to the region where the company operates.