The B Corporation Movement Goes Global at CGI 2012
B Lab Commits to Certifying 100 B Corps Internationally and Announces Partnership with Sistema B in South America
September 25, 2012: New York, NY
Today,
on the main stage at the 2012 Clinton Global Initiative (CGI) Annual
Meeting, B Lab announced its commitment to certify 100 B Corporations
outside the U.S. in 2013, responding to demand from entrepreneurs around
the world to join the B Corp movement.
“Impact
requires scale and global reach; by extending the B Corp movement into
emerging markets in South America, India, Asia, and Africa, the B Corp
movement will have dramatic impact on the development of more inclusive
and sustainable economies,” said Andrew Kassoy, B Lab Co-founder.
As
part of the launch, B Lab formally announced their first international
partnership, working with Sistema B to build the B Corp movement in
South America. Together they will build a founding class of 100 South
American B Corps by the end of 2013. B Lab also commits to expand the
community to other regions of the world, with the goal of having B Corps
in 20 countries on six continents, and of reaching a total of 750
Certified B Corps globally.
“Quarterly
shareholder value should not be the only benchmark by which we judge
corporations. It’s worth investing in something with a slightly longer
time horizon,” said President Clinton at Resource 2012 at Oxford
University.
Certified
B Corporations are a new type of corporation which uses the power of
business to solve social and environmental problems. To grow outside the
US, B Lab will establish partnerships with organizations that have
regional presence and expertise and leverage financial and technical
support provided by the Inter American Development Bank, the Rockefeller
Foundation, Halloran Philanthropies, Prudential Foundation, Linklaters,
the Ford Foundation, the Avina Foundation, InnovaChile CORFO and
Deloitte LLP.
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B Lab:
is a nonprofit organization dedicated to using the power of business to
solve social and environmental problems. B Lab drives systemic change
through three interrelated initiatives: 1) building a community of
Certified B Corporations to make it easier for all of us to tell the
difference between “good companies” and just good marketing; 2)
accelerating the growth of the impact investing asset class through use
of B Lab’s GIIRS impact rating system by institutional investors; and 3)
passing benefit corporation legislation in all fifty states. For more
information, see www.bcorporation.net
Sistema B:
is a global platform that promotes and facilitates the scaling of
businesses that redefine success in business and in our societies by
using the power of the market to solve social and environmental
problems. It aspires to achieve this by building a strong regional
community of B Corporations, enabling a dynamic support ecosystem and
promoting the necessary public policies and instruments. Sistema B is
currently inspiring and connecting this new generation of entrepreneurs
in Argentina, Chile and Colombia and aspires to formally launch in
Brazil in early 2013. For more information, see www.sistemab.org.
About the Clinton Global Initiative (CGI):
Established in 2005 by President Bill Clinton, the Clinton Global
Initiative (CGI) convenes global leaders to create and implement
innovative solutions to the world’s most pressing challenges. CGI Annual
Meetings have brought together more than 150 heads of state, 20 Nobel
Prize laureates, and hundreds of leading CEOs, heads of foundations and
NGOs, major philanthropists, and members of the media. To date CGI
members have made more than 2,100 commitments, which are already
improving the lives of nearly 400 million people in more than 180
countries. When fully funded and implemented, these commitments will be
valued at $69.2 billion. CGI’s Annual Meeting is held each September in
New York City. CGI also convenes CGI America, a meeting focused on
collaborative solutions to economic recovery in the United States, and
CGI University (CGI U), which brings together undergraduate and graduate
students to address pressing challenges in their community or around
the world. For more information, visit clintonglobalinitiative.org and follow us on Twitter @ClintonGlobal and Facebook at facebook.com/clintonglobalinitiative.
