You may have recently heard about the statement released from the Business Roundtable – a group of CEOs from some of the worlds top corporations – reprioritizing the purpose of corporations to align with “all stakeholders” and “supporting the communities in which we work”. Of course, it is a welcome change from prioritizing shareholder value as Milton Friedman pioneered in the early 70s. However, this statement says little in regards to the necessary social responsibility objectives that each of these CEOs must define at their respective companies.
In response to this BR statement, another community of business leaders that are proudly members of the sustainable certification organization known as B-corp have offered a helping hand. In a full page ad in The New York Times, B-corp has said, “Let’s get to work”. B-corp has developed a set of standards and objectives that any company – Corp, LLC, nonprofit – can strive to meet in order to hold themselves accountable for their own social and environmental performance. The first 82 B-Corporations were certified in 2007. As of August 25, 2019 there are over 2900 companies that are certified B-corporations. Here’s to hoping that the 181 CEOs that signed that statement of purpose will learn from the 2900 before them and get to work.
Jeff Jones (Founder at Basildata.com)