B The Change Weekly: July 17, 2020
Delivered on Fridays, B the Change Weekly delivers the most important and most relevant stories about people using business as a force for good. The newsletter features a weekly note from the B the Change team alongside insight and context on the stories we share here on Medium. Below is our latest roundup. To receive these insights directly in your inbox, sign up for B the Change Weekly today. Now on to the good stuff:
“How fast should radical change happen?” asks Dr. Ellonda L. Green, B Lab’s Director of Equity, Diversity and Inclusion, in this article on how B Lab is working to balance the need to do more to address systemic racism and the structures in capitalism that hold racism in place with the appropriate pace of progress. As Green says of the Certified B Corporation community: “Our movement calls for boldness and inclusivity with the purpose of a betterment for all, and it’s imperative that we continue to seek ways to ‘practice what we preach’ at B Lab.”
A key component in achieving systemic economic and social justice is the very governance structures that drive how companies operate, make decisions, and measure success. This week, we share updates on how more inclusive, stakeholder-focused structures are gaining traction with business leaders, investors, markets and shareholders around the globe.
Stakeholder Focus Is a Growing, Resilient Alternative
As a public health crisis reveals systemic cracks — in health care, finance, and racial justice — new calls are rising for a move toward a more resilient and inclusive economy that benefits all stakeholders. Businesses looking to lock in stakeholder governance can turn to a legal status known as the benefit corporation, which is gaining new momentum and attracting new attention from market investors.
Finding Long-Term Value as a B Corp
For multinational food company Danone, a new French law and the COVID-19 pandemic serve as further confirmations for its stakeholder-minded business approach and recent progress toward its global B Corporation certification. “It could not be timelier and more meaningful, as employees, consumers, customers, partners, governments and shareholders now see the critical importance of a balanced multi-stakeholder approach to value creation and sharing,” says Danone Chairman and CEO Emmanuel Faber in this article from B The Change contributor Christopher Marquis.
Responsible Business: From Failure to Fair Play
From hyper-leveraged supply chains unable to cope with a pandemic to the continual stripping of fair pay and dignity from the workforce that feeds injustice and unrest, evidence of the failure of shareholder-focused corporations surrounds us, says Frederick Alexander of the Shareholder Commons. His latest B The Change article outlines why businesses should convert to the benefit corporation structure that requires corporate executives to consider the interests of all stakeholders without prioritizing shareholders.
Stay in the Know
Here’s your chance to catch up on recent articles:
- A 2020 Vision: Giving Us Pause, Helping Us Find Reasons for Hope: How the B Impact Assessment Can Help Businesses Reflect and Plan for a More Resilient Future
- Our Economic System Isn’t Working: The Global Crisis Drives a Renewed Market Focus on Stakeholder Capitalism: Benefit Corporation IPO and Approvals Signals Stakeholder Focus Is a Growing, Resilient Alternative
- B Lab Takes a Stand: A Commitment to Justice and Anti-Racism — and an Invitation for Businesses to Take Action With Us
- Real Change in Real Time: Benefit Corporations See New Interest: Investors Show They’re Eager to Invest in Responsible Businesses
- Dear U.S. Capitalism: Here Are 7 Ways to Build Social Activism: Ideas for Change Include Tapping Into Local Communities and Redistributing Wealth Through Remote Work
- What Certified B Corporations Are Doing to Work Against Racism: 5 Examples of How a Company Can Take Action to Become an Anti-Racist Business
B The Change gathers and shares the voices from within the movement of people using business as a force for good and the community of Certified B Corporations. The opinions expressed do not necessarily reflect those of the nonprofit B Lab.
Address Business Governance to Address Social Injustice was originally published in B The Change on Medium, where people are continuing the conversation by highlighting and responding to this story.
